蒙牛乳业- 分析师会议要点：2026 年盈利展望积极

Flash | 26 Mar 2026 06:51:32 ET │ 11 pages Mengniu (2319.HK) Analyst Briefing Takeaways: Positive 26E Outlook CITI'S TAKE Mgt guided MSD YoY growth in group sales in 26E, given HSD YoY growth in group sales in 1Q26 (with positive growth on both ASP & vol). It intends to maintain OPM stable YoY in 26E, if not slightly improving YoY (vs its multi-year high level of ~8%). Below EBIT line, we expect substantial YoY reduction of "other expenses" (incl bulk WMP inventory write-down loss, which amounted to Rmb469m ...