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Hong Kong stocks surge | Mengniu Dairy (02319) up more than 3%, Shanghai Milkground Food Tech plans to acquire Mengniu Cheese for 448 million yuan and has been approved.
Mengniu Dairy (02319) rose more than 3%, as of press time, up 3.57%, at HKD 14.50, with a turnover of HKD 207 million.
Public Companies Invested in Shanghai Milkground Food Tech Co., Ltd (SHSE:600882) Copped the Brunt of Last Week's CN¥417m Market Cap Decline
Key Insights The considerable ownership by public companies in Shanghai Milkground Food Tech indicates that they collectively have a greater say in management and business strategy A total of 2 inve
Xuanwu Cloud (02392.HK) collaborates with Shanghai Milkground Food Tech to create smart Milkground.
With the national production of dairy products by large-scale enterprises reaching 30.55 million tons from January to December 2023, a year-on-year increase of 3.08%, the dairy industry is showing steady growth. In this context, the progress of technology, particularly digital technology, is profoundly changing the operational mode and industrial chain structure of enterprises. Digitization is not only a key factor in enhancing the competitiveness of enterprises, but also the core driving force for promoting high-quality development of the industry. "Making cheese with love, fulfilling dreams. Firmly pursue high growth and set sail again." As the "leader" of the development of the Chinese cheese industry, Shanghai Milkground Food Tech actively promotes the development of the Chinese cheese industry into a new stage.
Mengniu Dairy (02319) rose 3.45% on the Hong Kong stock connect. Shanghai Milkground Food Tech plans to acquire Mengniu cheese for RMB 448 million.
Mengniu Dairy (02319) is doing well and is currently trading at 13.2 HKD, up 3.45%, with a turnover of 280 million Hong Kong dollars. According to the announcement from Shanghai Milkground Food Tech, the company plans to acquire 100% equity of Inner Mongolia Mengniu Cheese Co., Ltd., held by Inner Mongolia Mengniu Dairy Group Co., Ltd., a controlling shareholder, for 448 million yuan in cash. The move is intended to address the issue of competition between Milkground and Mengniu Cheese in the cheese business, further enhance Milkground's profitability and core competitiveness, and consolidate its leadership position in the cheese category.
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