Elevator Pitch
Hong Kong-listed Chinese dairy company China Mengniu Dairy Co., Ltd. (OTCPK:CIADF) (OTCPK:CIADY) [2319:HK] is the second largest player in the China drinking milk products market with a 19.4% market share behind market leader Inner Mongolia Yili Industrial [600887:CH] which has a 21.7% market share, according to a Euromonitor research report published in September 2019.
China Mengniu trades at 24.2 times consensus forward FY2020 P/E representing a slight premium to its historical five-year average forward P/E of approximately 22 times. The stock also offers a consensus forward FY2020 dividend yield