Stock Code

Estimation Overview

Last Financial Year Result Financial Year 12/2023 EPS RMB 122.00 cts Net Profit RMB 4,809.20 MIL DPS RMB 48.90 cts Financial Year Net Profit / Loss RMB (MIL) EPS RMB (cts) DPS RMB (cts) NAV RMB Broker Name Rating Price HK$ Report Date 12/2024 6,197.00 156.80 46.90 - BOCI - 19.82 2024.01.05 12/2025 6,866.00 173.80 51.90 - BOCI - 19.82 2024.01.05 12/2024 5,400.00 140.00 54.13 - MACQUARIE OutPerform 17.08 2024.03.28 12/2025 6,000.00 150.00 58.77 - MACQUARIE - 17.08 2024.03.28 12/2026 6,400.00 160.00 63.41 - MACQUARIE - 17.08 2024.03.28 12/2024 6,009.00 152.00 76.00 - JP MORGAN - 19.60 2024.03.17 12/2025 6,596.00 167.00 84.00 - JP MORGAN - 19.60 2024.03.17 12/2024 5,419.00 138.00 55.00 - HAITONG OutPerform 16.80 2024.04.02 12/2025 6,217.00 158.00 63.00 - HAITONG - 16.80 2024.04.02 12/2026 6,749.00 172.00 69.00 - HAITONG - 16.80 2024.04.02 12/2024 5,261.00 133.00 67.00 - UBS Buy 17.08 2024.03.27 12/2025 5,757.00 146.00 73.00 - UBS - 17.08 2024.03.27 12/2026 6,310.00 160.00 80.00 - UBS - 17.08 2024.03.27 12/2024 5,373.00 136.00 61.10 - BANK OF AMERICA Buy 17.08 2024.03.27 12/2025 5,979.00 151.00 75.60 - BANK OF AMERICA - 17.08 2024.03.27 12/2026 6,568.00 166.00 91.30 - BANK OF AMERICA - 17.08 2024.03.27 12/2024 5,410.00 139.00 49.26 - MORGAN STANLEY Overweight 17.00 2024.04.11 12/2025 6,053.00 156.00 53.88 - MORGAN STANLEY - 17.00 2024.04.11 12/2026 6,750.00 174.00 69.27 - MORGAN STANLEY - 17.00 2024.04.11 12/2024 6,413.10 162.10 47.98 - UOB Buy 17.08 2024.03.28 12/2025 7,142.70 180.60 52.62 - UOB - 17.08 2024.03.28 12/2026 7,830.30 198.00 58.81 - UOB - 17.08 2024.03.28 12/2024 6,139.00 155.40 75.65 - CITIGROUP Buy 18.96 2024.03.26 12/2025 6,904.00 174.70 85.97 - CITIGROUP - 18.96 2024.03.26 12/2024 5,454.10 138.00 55.00 - GOLDMAN SACHS Buy 17.32 2024.04.02 12/2025 6,341.60 160.00 64.00 - GOLDMAN SACHS - 17.32 2024.04.02 12/2026 7,134.60 180.00 72.00 - GOLDMAN SACHS - 17.32 2024.04.02 12/2024 5,896.00 149.00 67.00 - HSBC Buy 17.08 2024.03.28 12/2025 6,459.00 163.00 82.00 - HSBC - 17.08 2024.03.28 12/2026 7,065.00 179.00 98.00 - HSBC - 17.08 2024.03.28 12/2024 5,455.00 138.00 62.00 - CICC OutPerform 17.08 2024.03.29 12/2025 6,012.00 152.00 69.00 - CICC - 17.08 2024.03.29 12/2024 5,708.00 145.00 72.40 - CCBI OutPerform 17.50 2024.03.27 12/2025 6,702.00 170.00 85.00 - CCBI - 17.50 2024.03.27 12/2026 7,593.00 193.00 96.30 - CCBI - 17.50 2024.03.27 12/2024 5,472.00 139.00 55.54 - HUATAI FIN HLDGS HK Buy 18.96 2024.03.27 12/2025 6,002.00 153.00 61.04 - HUATAI FIN HLDGS HK - 18.96 2024.03.27 12/2026 6,532.00 166.00 66.37 - HUATAI FIN HLDGS HK - 18.96 2024.03.27 12/2024 5,832.20 147.70 58.84 - JEFFERIES HK Buy 17.10 2024.03.27 12/2025 6,330.50 160.30 63.48 - JEFFERIES HK - 17.10 2024.03.27 12/2026 7,788.90 197.20 77.42 - JEFFERIES HK - 17.10 2024.03.27

Estimation Overview

Last Financial Year Result Financial Year 12/2023 EPS RMB 122.00 cts Net Profit RMB 4,809.20 MIL DPS RMB 48.90 cts Previous Close HK$ 15.200 Financial Year Net Profit / Loss RMB (MIL) Change (%) EPS RMB (cts) Estimated PE Ratio (x) Broker Name Report Date 12/2024 6,197.00 28.86% 156.80 8.79 x BOCI 2024.01.05 12/2025 6,866.00 10.80% 173.80 7.93 x BOCI 2024.01.05 12/2024 5,400.00 12.28% 140.00 9.85 x MACQUARIE 2024.03.28 12/2025 6,000.00 11.11% 150.00 9.19 x MACQUARIE 2024.03.28 12/2026 6,400.00 6.67% 160.00 8.62 x MACQUARIE 2024.03.28 12/2024 6,009.00 24.95% 152.00 9.07 x JP MORGAN 2024.03.17 12/2025 6,596.00 9.77% 167.00 8.26 x JP MORGAN 2024.03.17 12/2024 5,419.00 12.68% 138.00 9.99 x HAITONG 2024.04.02 12/2025 6,217.00 14.73% 158.00 8.73 x HAITONG 2024.04.02 12/2026 6,749.00 8.56% 172.00 8.02 x HAITONG 2024.04.02 12/2024 5,261.00 9.39% 133.00 10.37 x UBS 2024.03.27 12/2025 5,757.00 9.43% 146.00 9.44 x UBS 2024.03.27 12/2026 6,310.00 9.61% 160.00 8.62 x UBS 2024.03.27 12/2024 5,373.00 11.72% 136.00 10.14 x BANK OF AMERICA 2024.03.27 12/2025 5,979.00 11.28% 151.00 9.13 x BANK OF AMERICA 2024.03.27 12/2026 6,568.00 9.85% 166.00 8.31 x BANK OF AMERICA 2024.03.27 12/2024 5,410.00 12.49% 139.00 9.92 x MORGAN STANLEY 2024.04.11 12/2025 6,053.00 11.89% 156.00 8.84 x MORGAN STANLEY 2024.04.11 12/2026 6,750.00 11.51% 174.00 7.92 x MORGAN STANLEY 2024.04.11 12/2024 6,413.10 33.35% 162.10 8.51 x UOB 2024.03.28 12/2025 7,142.70 11.38% 180.60 7.64 x UOB 2024.03.28 12/2026 7,830.30 9.63% 198.00 6.96 x UOB 2024.03.28 12/2024 6,139.00 27.65% 155.40 8.87 x CITIGROUP 2024.03.26 12/2025 6,904.00 12.46% 174.70 7.89 x CITIGROUP 2024.03.26 12/2024 5,454.10 13.41% 138.00 9.99 x GOLDMAN SACHS 2024.04.02 12/2025 6,341.60 16.27% 160.00 8.62 x GOLDMAN SACHS 2024.04.02 12/2026 7,134.60 12.50% 180.00 7.66 x GOLDMAN SACHS 2024.04.02 12/2024 5,896.00 22.60% 149.00 9.25 x HSBC 2024.03.28 12/2025 6,459.00 9.55% 163.00 8.46 x HSBC 2024.03.28 12/2026 7,065.00 9.38% 179.00 7.70 x HSBC 2024.03.28 12/2024 5,455.00 13.43% 138.00 9.99 x CICC 2024.03.29 12/2025 6,012.00 10.21% 152.00 9.07 x CICC 2024.03.29 12/2024 5,708.00 18.69% 145.00 9.51 x CCBI 2024.03.27 12/2025 6,702.00 17.41% 170.00 8.11 x CCBI 2024.03.27 12/2026 7,593.00 13.29% 193.00 7.14 x CCBI 2024.03.27 12/2024 5,472.00 13.78% 139.00 9.92 x HUATAI FIN HLDGS HK 2024.03.27 12/2025 6,002.00 9.69% 153.00 9.01 x HUATAI FIN HLDGS HK 2024.03.27 12/2026 6,532.00 8.83% 166.00 8.31 x HUATAI FIN HLDGS HK 2024.03.27 12/2024 5,832.20 21.27% 147.70 9.34 x JEFFERIES HK 2024.03.27 12/2025 6,330.50 8.54% 160.30 8.60 x JEFFERIES HK 2024.03.27 12/2026 7,788.90 23.04% 197.20 6.99 x JEFFERIES HK 2024.03.27

Remarks :
1.	Changes are calculated by the following year estimation figures and the last company financial year result. If the result is not yet announced, it will be calculated by the research reports estimation figures only.
2.	Estimated PE Ratio is based on the broker's research reports EPS and the stock's previous closing price.

	CHINA MENGNIU DAIRY CO. LTD. Stock Code : 02319 Internet Address : http://www.mengniuir.com

Estimation Consensus Financial Year Net Profit / Loss RMB (MIL) EPS RMB (cts) DPS RMB (cts) NAV RMB Highest RMB (MIL) Lowest RMB (MIL) 12/2024 5,472.00 140.00 58.84 - 6,413.10 5,261.00 12/2025 6,330.50 160.00 64.00 - 7,142.70 5,757.00 12/2026 6,750.00 174.00 72.00 - 7,830.30 6,310.00 Rating Overview Rating / Strong Buy / ( 1 ) Buy / ( 2 ) Hold / ( 3 ) Sell / ( 4 ) Strong Sell / ( 5 ) Average Rating Total Broker Reports (13) 0 13 0 0 0 2 Remarks : Average rating ranges from 1 to 5. The lowest is the figure, the higher the rating and the vice versa.

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