Core Viewpoint - A2 Milk Company is strategically focusing on the Chinese market by acquiring a factory from Yashili International Group for approximately NZD 282 million (around RMB 1.2 billion) to enhance its product offerings and market access in China [1][2]. Group 1: Acquisition and Strategy - A2 Milk Company has acquired the Pokeno factory, which has been approved for two new national standard formula registrations, providing a significant advantage in the competitive Chinese infant formula market [2][4]. - The acquisition allows A2 to bypass lengthy approval processes and directly gain valuable registration qualifications, addressing the urgent need for stable and controllable production capacity in China [2][5]. - A2 plans to invest NZD 382 million (approximately RMB 1.6 billion) in the new factory to enhance production capacity and create over 100 new jobs, indicating a long-term commitment to the Chinese market [1][2]. Group 2: Divestment and Focus Shift - Concurrently, A2 Milk Company is selling its stake in Mataura Valley Milk (MVM) to Open Country Dairy, optimizing its asset layout and focusing on high-value consumer products [6][7]. - This divestment allows A2 to stabilize its raw material supply while freeing up capital and management resources to concentrate on more profitable finished products [6][7]. Group 3: Financial Performance - For the fiscal year ending June 30, 2025, A2 Milk Company reported a revenue increase of 13.5% to NZD 1.902 billion, with a net profit after tax of NZD 202.9 million, reflecting a growth of 21.1% [8]. - Despite a general decline in the Chinese infant formula market, A2's revenue in China and other Asian regions grew by 13.9% to NZD 1.302 billion, highlighting the importance of this market for the company's overall performance [8]. - A2's market share in the Chinese infant formula sector increased from 7.1% in FY 2024 to 8.0%, positioning the company among the top four brands in the market [8].

Core Insights - a2 Milk Company reported a 13.5% increase in annual revenue to NZD 1.902 billion for the fiscal year ending June 30, 2025, with a net profit after tax (NPAT) growth of 21.1% to NZD 202.9 million [1] - The company experienced significant growth in the Chinese and other Asian markets, with a revenue increase of 13.9% to NZD 1.302 billion, and a 22.5% growth in the U.S. market, while the Australia-New Zealand region remained stable [1] - The infant formula segment grew by 9.9%, with the a2 Platinum infant formula series generating NZD 632.5 million, a 3.3% increase year-on-year [1] Regional Performance - In the Chinese and other Asian regions, the revenue from family nutrition products surged by 33.1% to NZD 110.3 million [2] - The sales of English standard products in China and other Asian regions reached NZD 559.1 million, reflecting a 24.9% year-on-year growth [1][2] - The overall cross-border infant formula market grew by 11.9% year-on-year, driven by increasing market demand and a trend towards premiumization, with the cross-border segment's market share rising from 14% in FY22 to 19% [1] Strategic Developments - The company acquired an integrated nutrition product manufacturing facility in Pokeno, New Zealand, from Yashili New Zealand Dairy Co., Limited, for approximately NZD 282 million [2] - Following the acquisition, a2 Milk Company plans to invest around NZD 100 million in the new Pokeno facility to enhance production capacity and create over 100 new jobs [2] - The company aims to secure product registrations for two new national standard infant formula products, with potential for a third registration in the future [3]

在消费升级与健康理念深化的双重驱动下，中国乳制品市场正迈向精细化、专业化发展新阶段。a2牛奶 公司凭借独有的A2型蛋白质科研优势与持续创新，构建起覆盖全年龄段的营养产品矩阵，以科学配方 和本土化设计，引领家庭乳品消费新潮流。 婴幼儿营养领域，a2至初婴幼儿配方奶粉始终是品质标杆。这款源自新西兰专属牧场的产品，采用仅含 A2型蛋白质的鲜奶一次成粉工艺，锁住HMO、OPN等原生珍稀营养群，通过中新双重严格认证。其中 乳铁蛋白纯度超95%，含量较上一代大幅提升，搭配GOS益生元和全乳糖配方，经科学试验证实能助力 宝宝消化吸收。 科研实力是产品创新的根基。a2多项研究成果登国际权威期刊，系统论证其对消化舒适与营养吸收的积 极作用。从婴幼儿奶粉的协同营养研究，到儿童奶粉的双引擎配方实证，每款产品都有科学支撑， 让"科学、专业、高品质"的品牌形象深入人心。 从宝宝到老人，从日常营养到精准养护，a2以多元新品和精准营养方案，成为中国家庭乳品消费升级路 上的贴心伙伴，引领消费升级。 家庭营养需求的多元化催生出更细分的产品布局。针对孕产妇，a2奶粉在满足营养需求的同时提升吸收 率；3岁以上儿童有"双核营养"儿童奶粉a2？臻智护 ...