China Modern Dairy (HKG:1117) subsidiary Modern Farming Saibei agreed to supply whole milk powder and skimmed milk powder to Mengniu's subsidiaries Shanxi Yashili and Oushi Mengniu for a period starting from the date of the agreement until Dec. 31, 2025, a Tuesday filing with the Hong Kong Exchange said.
The agreement set 10 million yuan as the annual cap from the procurement date until Dec. 31, 2024, and 100 million yuan for the financial year ending Dec. 31, 2025.
The dairy company seeks to overcome the issue of oversupply of raw milk in the market resulting from weak demand under the current market conditions in China by producing powdered milk and having a stable source of income through the purchasers.
The company's shares were up nearly 4% in recent trade.
Price (HKD): $0.79, Change: $+0.030, Percent Change: +3.95%
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。