https://www.scmp.com/rss/204318/feed The latest news, analysis and opinion on Mengniu. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com A mainland boy band competition show has been taken off the air after the parents of one of its contestants were alleged to have links to illegal businesses. The Beijing Municipal Radio and Television Bureau on Tuesday suspended Youth With You Season 3, produced by Chinese streaming website iQiyi, after meeting with iQiyi’s producers to require compliance with broadcasting regulations. The suspension came after the show’s leading contestant, Tony Yu Jingtian, was embroiled in scandals about his... https://www.scmp.com/lifestyle/arts-culture/article/3132355/chinese-boy-band-tv-show-youth-you-blackpinks-lisa-judge?utm_source=rss_feed https://www.scmp.com/lifestyle/arts-culture/article/3132355/chinese-boy-band-tv-show-youth-you-blackpinks-lisa-judge?utm_source=rss_feed Wed, 05 May 2021 09:45:15 +0000 Hong Kong’s stock benchmark gained for the first time this week as Xiaomi rallied to an all-time high and as investors assessed the prospect of a fresh US stimulus package and smartphone maker Xiaomi rose to a record. The Hang Seng Index added 0.9 per cent to 26,343.10 at the close on Wednesday. The gauge had lost 2.5 per cent over the past three trading days amid concerns about a resurgence in Covid-19 cases locally and in Europe. The Shanghai Composite Index advanced 0.8 per cent. Markets... https://www.scmp.com/business/markets/article/3115049/hong-kong-stocks-fluctuate-us-stimulus-doubt-covid-19-variant-dims?utm_source=rss_feed https://www.scmp.com/business/markets/article/3115049/hong-kong-stocks-fluctuate-us-stimulus-doubt-covid-19-variant-dims?utm_source=rss_feed Wed, 23 Dec 2020 02:53:39 +0000 China Mengniu Dairy will not acquire Japanese drinks company Kirin Holding’s Australia-based asset Lion Dairy & Drinks after failing to get approval from the Australian government, the latest incident in escalating trade tensions between Beijing and Canberra. Hong-Kong listed Mengniu Dairy agreed in November to pay A$600 million (US$429 million) for Lion Dairy & Drinks, well-known locally for its Berri and Pura brands of milk as well as the Mac’s and Hopt drinks brands sold in New Zealand. The... https://www.scmp.com/economy/china-economy/article/3098758/chinas-mengniu-calls-deal-buy-australian-drinks-company-after?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3098758/chinas-mengniu-calls-deal-buy-australian-drinks-company-after?utm_source=rss_feed Tue, 25 Aug 2020 10:30:15 +0000 Australia will not approve China Mengniu Dairy Company’s proposed buyout of some of Australia’s best-known milk brands from Japan’s Kirin Holdings, the Australian Financial Review reported on Thursday. Australia Treasurer Josh Frydenberg has gone against the advice of the Foreign Investment Review Board (FIRB) which was to approve the A$600 million (US$434 million) deal, the report said, citing unidentified sources. China Mengniu Dairy Company offered to buy Lion Dairy & Drinks from Kirin... https://www.scmp.com/economy/china-economy/article/3098071/australia-block-china-mengniu-dairy-companys-buyout-lion?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3098071/australia-block-china-mengniu-dairy-companys-buyout-lion?utm_source=rss_feed Thu, 20 Aug 2020 03:08:03 +0000 After being battered by the coronavirus, China Mengniu Dairy says its sales recovered to double-digit growth in April and May compared to the same period last year, sending its shares soaring in Hong Kong on Tuesday. China’s second-largest producer of everything from milk to ice cream and yogurt warned that its first-half net profit fell between 45 per cent to 60 per cent, according to a stock exchange filing posted before the market opened. That was less than a forecast of an 80 per cent drop... https://www.scmp.com/business/companies/article/3088155/china-mengniu-dairy-shares-soar-it-reports-sales-recovery-after?utm_source=rss_feed https://www.scmp.com/business/companies/article/3088155/china-mengniu-dairy-shares-soar-it-reports-sales-recovery-after?utm_source=rss_feed Tue, 09 Jun 2020 04:58:35 +0000 China Mengniu Dairy has offered A$1.5 billion (US$1 billion) to take over Australian infant milk formula maker Bellamy’s Australia, reflecting the dairy products giant’s goal to expand aggressively abroad. The Inner Mongolia company said on Monday that it would buy Bellamy’s at A$13.25 a share, which represents a 59 per cent premium to the Australian company’s closing price of A$8.32 on Friday. The deal, accepted by the board of Bellamy’s, is subject to a review by Australia’s Foreign Investment... https://www.scmp.com/business/companies/article/3027418/mengniu-dairy-moves-buy-australia-baby-milk-formula-maker?utm_source=rss_feed https://www.scmp.com/business/companies/article/3027418/mengniu-dairy-moves-buy-australia-baby-milk-formula-maker?utm_source=rss_feed Mon, 16 Sep 2019 06:16:35 +0000 A row is brewing between China’s two largest dairy producers over sponsorship rights for the 2022 Winter Olympics in Beijing, underscoring what’s at stake for corporate branding in the biggest winter sporting event on earth. Inner Mongolia Yili Industrial Group, China’s largest milk company and exclusive dairy products sponsor of the 2022 Winter Games, is threatening to pull its sponsorship after accusing its smaller rival China Mengniu Dairy of buying its way into the marketing campaign and... https://www.scmp.com/business/companies/article/3015425/chinas-yili-and-mengniu-spar-over-sponsorship-status-2022-winter?utm_source=rss_feed https://www.scmp.com/business/companies/article/3015425/chinas-yili-and-mengniu-spar-over-sponsorship-status-2022-winter?utm_source=rss_feed Thu, 20 Jun 2019 22:00:08 +0000 China’s second biggest dairy producer said it is in talks with football’s governing body about sponsoring the World Cup in Qatar in 2022 as it strives to boost its brand and gain the edge over rivals. China Mengniu Dairy was an official sponsor of last year’s World Cup competition in Russia, investing 1 billion yuan (US$149 million), a move that greatly increased brand recognition and revenue, according to chief executive Lu Minfang. “Sports have always been our interest and we will continue... https://www.scmp.com/business/companies/article/3004016/chinese-dairy-giant-mengniu-talks-fifa-about-sponsoring-world?utm_source=rss_feed https://www.scmp.com/business/companies/article/3004016/chinese-dairy-giant-mengniu-talks-fifa-about-sponsoring-world?utm_source=rss_feed Sun, 31 Mar 2019 23:30:11 +0000 China Mengniu Dairy, the mainland’s second largest dairy producer, reported a 49 per cent rise in 2018 net profit, bolstered by rising sales and the introduction of premium products. Net profit was up 48.6 per cent to a record 3.04 billion yuan (US$452 million) for the year ended December 31, while revenue jumped 14.7 per cent to 68.98 billion yuan. The company declared a final dividend of 0.181 yuan per share, up 50.8 per cent year on year. Shares in Mengniu jumped 5.5 per cent to close at... https://www.scmp.com/business/companies/article/3003692/mengniu-dairy-2018-profit-surges-49-cent-lifted-strong-sales-new?utm_source=rss_feed https://www.scmp.com/business/companies/article/3003692/mengniu-dairy-2018-profit-surges-49-cent-lifted-strong-sales-new?utm_source=rss_feed Thu, 28 Mar 2019 10:02:34 +0000 Mengniu Dairy, China’s second-largest dairy product producer, said it faced challenges in securing the supply chain for production when opening a new milk-based drink plant in Indonesia in November. This is the latest example of Chinese dairy producers venturing abroad to secure safe sources of supply since the industry’s melamine scandal 10 years ago. Lu Minfang, chief executive of Mengniu Dairy, said it was an ordeal to secure raw materials and packaging needed to get the project into... https://www.scmp.com/business/companies/article/2176034/chinas-second-largest-dairy-producer-mengniu-dairy-says-indonesia?utm_source=rss_feed https://www.scmp.com/business/companies/article/2176034/chinas-second-largest-dairy-producer-mengniu-dairy-says-indonesia?utm_source=rss_feed Sun, 02 Dec 2018 22:30:45 +0000 China Mengniu Dairy, the country's largest manufacturer of liquid dairy products, plans to pay HK$3.18 billion to dramatically boost its stake in China Modern Dairy, in an attempt to get a tighter hold of its raw milk supply. The deal, if completed, will make Mengniu the biggest shareholder in the milk supplier, with a 28 per cent stake, and will help Mengniu boost its overall revenue, an analyst said. Mengniu announced in a filing with the Hong Kong stock exchange yesterday that it had agreed... https://www.scmp.com/business/companies/article/1232940/china-mengniu-pay-us410m-modern-dairy-stake?utm_source=rss_feed https://www.scmp.com/business/companies/article/1232940/china-mengniu-pay-us410m-modern-dairy-stake?utm_source=rss_feed Wed, 08 May 2013 06:18:49 +0000 China Mengniu Dairy said news of its milk products containing unsafe levels of a cancer-causing substance had affected sales in January, but it was confident it would meet this year's sales target. The mainland's largest dairy reported net profit last year jumped 28.4 per cent to 1.59 billion yuan (HK$1.96 billion), and revenue grew 23.5 per cent to 37.4 billion yuan. Wu Jingshui, the chief financial officer, said the incident in December had taken a toll on January sales, but refused to... https://www.scmp.com/article/996815/mengniu-confident-despite-tainted-milk-scare?utm_source=rss_feed https://www.scmp.com/article/996815/mengniu-confident-despite-tainted-milk-scare?utm_source=rss_feed Tue, 27 Mar 2012 16:00:00 +0000 State-owned food conglomerate Cofco is playing a more active role in China Mengniu Dairy, and has raised its stake after an excessive amount of a carcinogenic substance was found in its dairy products last month. The mainland's largest grain trader has reportedly been participating in Mengniu's daily operations, including quality control, despite having said it would not do so when it became a shareholder four years ago. In addition, Cofco increased its equity to 28.09 per cent from 27.96 per... https://www.scmp.com/article/989470/cofco-raises-stake-mengniu-and-offers-help?utm_source=rss_feed https://www.scmp.com/article/989470/cofco-raises-stake-mengniu-and-offers-help?utm_source=rss_feed Fri, 06 Jan 2012 16:00:00 +0000 China Mengniu Dairy (2319), China's biggest milk seller, dropped 24 per cent on Wednesday after the company revealed that its milk contained flavacin M1, a toxin known to cause severe liver damage, even cancer. The news pressed the hot-button issue of food safety on the mainland for a sensitive consumable: milk. In 2008, Mengniu was among the major dairies found to be distributing melamine-tainted milk. The company said the contamination was caused by cows eating mouldy feed at a farm run by... https://www.scmp.com/article/989013/market-calls?utm_source=rss_feed https://www.scmp.com/article/989013/market-calls?utm_source=rss_feed Sun, 01 Jan 2012 16:00:00 +0000 The discovery of an unsafe level of a cancer-causing substance in China Mengniu Dairy's milk products in Sichuan sent the stock plummeting 24 per cent yesterday. One of 25 batches of UHT milk from Mengniu's Meishan plant was found with 140 per cent of the permitted level of aflatoxin M1. It was part of a random check on more than 200 samples from 128 dairy plants in October, according to a report released at the weekend by the General Administration of Quality Supervision, Inspection and... https://www.scmp.com/article/988759/china-mengnius-shares-fall-24pc?utm_source=rss_feed https://www.scmp.com/article/988759/china-mengnius-shares-fall-24pc?utm_source=rss_feed Wed, 28 Dec 2011 16:00:00 +0000 Excessive levels of a cancer-causing toxin were found in milk produced in Sichuan in October by dairy giant Mengniu, the mainland's product quality watchdog said at the weekend. The General Administration of Quality Supervision, Inspection and Quarantine announced on Saturday that pure milk produced by a Mengniu subsidiary in Meishan on October 18 contained as much as 1.4 times the national standard for aflatoxin M1. Milk produced by another firm, Changfu in Fujian, also had excessive... https://www.scmp.com/article/988607/dairy-giants-milk-tests-positive-cancer-toxin?utm_source=rss_feed https://www.scmp.com/article/988607/dairy-giants-milk-tests-positive-cancer-toxin?utm_source=rss_feed Mon, 26 Dec 2011 16:00:00 +0000 China Mengniu Dairy is considering a bid for Pfizer's infant nutrition business, which is about twice the size of the mainland's biggest dairy firm. The Financial Times reported on Sunday that the dairy company was in talks with the bank UBS to bid for the American health-care giant's US$10 billion nutrition unit, the owner of popular infant formula brand Wyeth. Mengniu shares fell 5.92 per cent yesterday morning before closing at HK$25.75, down 1.72 per cent on the day, against the Hang Seng... https://www.scmp.com/article/982870/mengniu-mulls-bid-pfizer-milk-unit?utm_source=rss_feed https://www.scmp.com/article/982870/mengniu-mulls-bid-pfizer-milk-unit?utm_source=rss_feed Mon, 24 Oct 2011 16:00:00 +0000 Mainland dairy giant Mengniu, which boasted a 27.6 per cent gain in net profit in the first six months of 2011, has pledged 700 million yuan (HK$854 million) to ensure the quality of its milk supply. Mengniu yesterday reported earning 789.8 million yuan in the first half of this year up from 618.8 million yuan during the same period last year. Its revenue increased 28.7 per cent from 14.4 billion yuan to 18.6 billion yuan. Executive director and chief financial officer Wu Jingshui said the... https://www.scmp.com/article/977599/mengniu-splashes-out-improve-milk-quality?utm_source=rss_feed https://www.scmp.com/article/977599/mengniu-splashes-out-improve-milk-quality?utm_source=rss_feed Tue, 30 Aug 2011 16:00:00 +0000 Milk producer and top executives sell shares to raise HK$2.7b China Mengniu Dairy, the country's largest liquid milk producer, yesterday joined a series of mainland companies that have raised money from big share sales over the past two months. Market watchers said many more were expected to join the rush to raise fresh capital amid the recent stock-market highs. Inner Mongolia-based Mengniu, along with its senior management, tapped the equity market by offering HK$2.7 billion worth of new... https://www.scmp.com/article/588929/mengniu-joins-rush-market-funds?utm_source=rss_feed https://www.scmp.com/article/588929/mengniu-joins-rush-market-funds?utm_source=rss_feed Fri, 13 Apr 2007 16:00:00 +0000 China Mengniu Dairy, the country's biggest producer of liquid milk, is buying the remaining 48 per cent stake it does not own in a Wuhan venture for 134.4 million yuan to expand in central China. Mengniu wanted to buy the stake in Mengniu (Wuhan) from its indirect subsidiary, Wuhan Frealth Dairy, Hong Kong-listed Mengniu said. The net loss attributable to the 48 per cent Mengniu (Wuhan) holding was 4.3 million yuan last year, while the stake's net asset value was 68.6 million yuan at the... https://www.scmp.com/article/587932/mengniu-buys-out-unit-expansion?utm_source=rss_feed https://www.scmp.com/article/587932/mengniu-buys-out-unit-expansion?utm_source=rss_feed Thu, 05 Apr 2007 16:00:00 +0000 Shareholders of China Mengniu Dairy, the mainland's largest milk producer, are raising as much as HK$1.4 billion from the sale of 65 million existing shares, market sources said. The shares were marketed at an indicative range of HK$20.60 to HK$21.50 each, representing a 4 to 8 per cent discount to the stock's HK$22.40 close yesterday. ABN Amro Rothschild is arranging the sale. Mengniu's shares have risen 9.5 per cent this year, compared with the Hang Seng Index's 2.5 per cent gain, and... https://www.scmp.com/article/580988/mengniu-investors-seek-hk14b-share-sale?utm_source=rss_feed https://www.scmp.com/article/580988/mengniu-investors-seek-hk14b-share-sale?utm_source=rss_feed Mon, 05 Feb 2007 16:00:00 +0000 Milk producer to sell yogurt products with French dairy giant China Mengniu Dairy, the mainland's largest milk producer, is forming joint ventures with Paris-based Groupe Danone, the world's biggest yogurt maker, to sell yogurt products in China. Total investment for the three ventures would be about 1.6 billion yuan, Mengniu said yesterday. Hong Kong-listed Mengniu said it would hold 51 per cent of the ventures and Danone 49 per cent. Mengniu said it would finance the deals from internal... https://www.scmp.com/article/575980/mengniu-16b-yuan-venture-danone?utm_source=rss_feed https://www.scmp.com/article/575980/mengniu-16b-yuan-venture-danone?utm_source=rss_feed Mon, 18 Dec 2006 16:00:00 +0000 An enormous modern glass and concrete palace complete with fountains and a well-appointed guest house rises out of the arid plains less than an hour's drive from Hohhot, the provincial capital of Inner Mongolia. This is the house that milk built. Or more exactly, the house that China Mengniu Dairy's Hong Kong initial public offering proceeds paid for. Under the tutelage of maverick director and president Niu Gensheng, who likes to quote Mao Zedong and runs his company like an army, Mengniu... https://www.scmp.com/article/514915/mengniu-milks-fat-land-amid-dairy-revolution?utm_source=rss_feed https://www.scmp.com/article/514915/mengniu-milks-fat-land-amid-dairy-revolution?utm_source=rss_feed Sun, 04 Sep 2005 16:00:00 +0000