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中國飛鶴(06186.HK):茁然產品增速遠超行業整體 續拓成人奶粉發展
阿思達克 08-19 11:45
中國飛鶴(06186.HK)管理層在業績發布會上指出,今年上半年中國兒童奶粉市場增速約32%,公司茁然產品增速逾800%,遠超行業整體增速,而飛鶴所有四段產品在兒童奶粉市佔率為16.3%。公司透露2024-28年未來五年規劃中,期望收入每年平均增速在15%左右,並穩步發展嬰兒配方奶粉市場,冀到2028年相關收入佔整體約50%左右,另外將延續兒童奶粉市場發展,拓展高端成人奶粉,公司在今年下半年將推出功能性成人奶粉,期望到2023至28年成人奶粉仍作為第二增長曲線之一,帶動未來業務動長。 管理層指出公司產品價格維持穩定,僅有個別區域有價格壓力,反映公司採取的策略有效,而在費用率方面,今年上半年營銷費用有所提升,主要因為去年上半年很多線下活動未能進行,只可線上投入,而線上費用投入相對少,故令去年上半年基數異常低。今年上半年公司進行較多社區及線下活動,故活動費用有所上升,強調針對品牌未來發展,費用投入合理。 管理層指出公司一直強調母乳是最好的,任何嬰兒奶粉與母乳相比都只能是模仿,不能超越,他透露一、二段奶粉上半年的佔比近45%左右,整體增長亦不錯,錄逾15%增長。在監管方面,管理層認為主要是流言,現時為止無聽到或看到政策層面的變化,認為國家對國產品牌發展是肯定的。(el/k) ~
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