The a2 Milk Co Ltd

ATM: XNZE (NZL)
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A2 Milk Commands a Strong Brand in Chinese Infant Formula

Business Strategy and Outlook

A2 Milk has built a brand that we expect to protect economic profits for years to come. China is the key battleground. A2's future growth relies heavily on further successful penetration of the Chinese infant formula market, which we estimate makes up the vast majority of earnings.

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