Mengniu Dairy (02319) rose more than 3% in the afternoon, and as of press time, it rose 3.13% to HKD 13.16 with a turnover of HKD 213 million.
According to the WiseMoney APP, Mengniu Dairy (02319) rose more than 3% in the afternoon, and as of press time, it rose 3.13% to HKD 13.16 with a turnover of HKD 213 million.
In terms of news, the Shanghai Milkground Food Tech announced that the company plans to purchase 100% equity of Inner Mongolia Mengniu Cheese Co., Ltd. held by its controlling shareholder Inner Mongolia Mengniu Dairy (Group) Co., Ltd. for CNY 448 million in cash. Shanghai Milkground stated that this acquisition will solve the problem of same-industry competition between the company and the promise provider in the cheese business, further enhance the company's profit and core competitiveness, and consolidate its position as a leader in the cheese category.
It is worth noting that on the evening of March 26th, Mengniu announced that the former Senior Vice President and the head of the Ambient Temperature Business Unit, Gao Fei, took over as the CEO and as an executive director. Gao Fei thus became the fifth CEO of Mengniu. On May 23rd, Qing Lijun replaced Chen Lang as the chairman of the Mengniu Board of Directors. Dairy industry analyst Song Liang stated that after the new CEO Gao Fei took office, he has always emphasized the need to improve the flat management level of the overall business, and integrate business sectors that can be merged, such as the current combination of Shanghai Milkground and Mengniu Cheese.