China Mengniu Dairy Co Ltd

02319: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Mengniu Earnings: Impairment Dragged Performance but Set for Rebound; Raise Valuation by 12%

Jacky Tsang

Mar 26, 2026

Mengniu's 2025 net income of CNY 1.55 billion was dragged by roughly CNY 2.32 billion in impairment losses associated with idle production facilities and financial assets. Operating margin fell 20 basis points year on year to 8%.

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China Mengniu Dairy Co Ltd

Mengniu Earnings: Impairment Dragged Performance but Set for Rebound; Raise Valuation by 12%

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