CHINA MENGNIU DAIRY COMPANY LIMITED * 2319 25,564,409 25,835,834 (1.1)% 8,142,810 8,381,818 (2.9)% 1,338,669 1,048,609 27.7% 0.689 0.540 27.6% 0.686 0.534 28.5% * 1
C 27.7% 100% SAP Danone NBA 2011 2
4 25,564,409 25,835,834 (17,421,599) (17,454,016) 8,142,810 8,381,818 4 177,611 250,872 (6,912) 3,345 (5,565,274) (5,897,135) (1,093,651) (962,047) 5 (182,839) (556,196) 1,471,745 1,220,657 273,764 253,868 7 (134,616) (176,248) 143,306 183,180 6 1,754,199 1,481,457 8 (321,343) (252,501) 1,432,856 1,228,956 9 (8) (22) 1,432,848 1,228,934 3
1,338,669 1,048,609 94,179 180,325 1,432,848 1,228,934 10 0.689 0.540 0.689 0.540 0.686 0.534 0.686 0.534 11 4
9,561,985 9,667,308 2,213,966 2,030,097 70,860 103,814 1,096,149 1,050,567 5,837,501 5,837,501 1,616,377 1,620,375 4,077,563 3,840,594 503,365 379,910 182,270 160,271 2,266,368 1,894,059 121,919 163,704 27,548,323 26,748,200 5,884,029 8,338,024 33,446 17,455 4,289,320 4,342,292 12 1,864,042 1,148,186 1,429,381 1,573,053 441,622 255,589 8,606,899 4,649,560 22,548,739 20,324,159 9 8,257 8,433 22,556,996 20,332,592 13 5,160,711 4,991,847 4,955,686 4,554,420 5,052,277 4,360,618 172,965 118,365 13,836 4,506 23,921 23,537 284,625 297,280 15,664,021 14,350,573 9 398 572 15,664,419 14,351,145 6,892,577 5,981,447 34,440,900 32,729,647 5
5,416,792 5,464,050 47,077 63,812 244,690 270,477 93,836 92,076 13,660 7,618 2,390,435 2,338,741 8,206,490 8,236,774 26,234,410 24,492,873 196,459 196,246 (347,830) (489,075) 13,412,945 14,963,385 8,157,513 6,818,844 21,419,087 21,489,400 4,815,323 3,003,473 26,234,410 24,492,873 6
1. 2. 34 19 19 7
2 3 9 39 8 8 12 8 12 3 8
16 38 1638 24 3 3 3 13 13 9 39 13 40 40 3 40 3 40 9
3. UHT 10
21,940,946 1,644,268 1,783,488 195,707 25,564,409 299,468 109,649 24,197 143,866 577,180 22,240,414 1,753,917 1,807,685 339,573 26,141,589 (577,180) 25,564,409 1,924,679 57,951 27,201 (170,009) 1,839,822 273,764 (134,616) (6,912) 143,306 (361,165) 1,754,199 (321,343) 1,432,856 23,855,618 2,573,786 16,126,657 2,202,031 44,758,092 (8,830,462) 14,169,432 8,257 50,105,319 13,083,343 1,848,813 2,598,436 1,428,995 18,959,587 (8,830,462) 13,741,386 398 23,870,909 11
21,764,843 1,988,376 1,933,841 148,774 25,835,834 525,241 62,344 231,533 7,699 826,817 22,290,084 2,050,720 2,165,374 156,473 26,662,651 (826,817) 25,835,834 1,303,907 137,889 255,716 (7,627) 1,689,885 253,868 (176,248) 3,345 183,180 (472,573) 1,481,457 (252,501) 1,228,956 22,706,898 2,583,398 12,409,854 1,795,576 39,495,726 (9,242,313) 16,818,946 8,433 47,080,792 13,408,400 1,715,683 2,408,830 1,048,115 18,581,028 (9,242,313) 13,248,632 572 22,587,919 12
4. 25,564,409 25,835,834 12,753 9,776 56,768 66,173 94,903 22,916 49,989 15,991 42,110 57,104 177,611 250,872 25,742,020 26,086,706 5. (28,013) 87,858 23,808 261,176 7,153 9,415 8,059 6,721 129,088 125,531 23,283 50,780 19,461 14,715 182,839 556,196 13
6. 17,421,634 17,451,250 (35) 2,766 17,421,599 17,454,016 678,071 614,747 1,586 1,693 12,135 13,015 8,798 8,645 258,452 163,510 95,741 127,751 343,950 235,078 1,871,540 1,503,677 7. 3,508 4,660 64,711 109,422 3.50%500,000,000 57,730 56,985 4,814 5,181 3,853 134,616 176,248 14
8. 439,940 699,629 (118,597) (447,128) 321,343 252,501 (a) (b) (i)(ii) (iii) 9. 64% 36%5,763,000 15
10. 33 1,942,963 1,941,431 2,282 12,819 4,761 10,160 1,950,006 1,964,410 11. 0.28 0.20 16
12. 3 1,752,101 1,018,735 4 6 71,352 82,420 7 12 8,656 20,722 1 31,933 26,309 1,864,042 1,148,186 13. 3 4,634,600 4,200,799 4 6 480,408 752,738 7 12 35,194 30,792 1 10,509 7,518 5,160,711 4,991,847 17
UHT UHT 45% 18
C 20 11 BrandZ TM 201518 Campaign Asia-Pacific 1000 (C-BPI) C-BPI 19
Danone S.A. Danone Danone 9.9% Danone Danone80% 20% 50% Danone Danone Danone C 170 20
Danone Arla Foods Arla Foods Arla Foods Arla Foods Arla Foods Arla Foods 11 Arla Arla Gaarden Arla Foods Arla FoodsArla Foods Arla Foods UHT 100% Arla 21
1230 Danone Asia Baby Nutrition Pte. Ltd 25% 51% 14,180 2,500 - Arla FoodsArla - 22
Danone The WhiteWave Foods Company WhiteWave WhiteWave WhiteWave 51% 49% SAP LIMS(Laboratory Information Management System) Danone 100% 23
68 2,200100% 14 E-learning C AsureQuality 100% 24
2020 SPA W-W W-W 123 24 100 25
Wei Sales Platform WSP Central Business Unit CBU Route to Market RTM CBU CBU WSP WSP WSP CBU Key Account KA KAKA 1 618 26
C C NBA NBA NBA NBA NBA 27
+ + + + 10 10 10 10 TFBOYS 28
8 SAP SAP SAP SAPEnterprise Resource Planning ERPCustomer Relationship Management CRMSAP SAP SAPBusiness Intelligence BIPlant Maintenance PM Customer Relationship ManagementCRM Finance Shared Service Center FSSC 29
255.644 258.358 1.1%11.615 15.457 0.5% 244.029 242.901 C 81.428 83.818 0.531.9% 75.733 75.48631.0%0.1 5.695 8.332 68.418 74.154 26.8% 28.7%62.231 67.168 25.5% 27.7% 5.6%55.653 58.971 21.8% 22.8% 50.417 53.252 20.7% 21.9% 1.2 30
19.9% 22.902 28.606 9.0% 11.1%21.9% 20.890 26.757 8.6% 11.0% 2.4 15.9%12.765 15.182 5.0% 5.9% 11.814 13.916 4.8% 5.7% 0.9 (EBITDA) 13.4%23.156 20.419EBITDA 9.1% 7.9% EBITDA22.893 17.934EBITDA 9.4% 7.4% 27.7%13.387 10.4864,181 0.689 0.540 27.6% 12.969 9.310 39.3% 18.3% 1.3 18.5%0.7 31
14.396 14.8513.1% 13.9903,065 1,00012.378 10.772 2.018 21.073 15.465 104.69198.247 93.500 90.621 18.62251.751 44.266 52.123 262.344 244.929 39.9%40.1% 1.346 1.7620.5% 0.7% 1.322 0.5% 0.2 32
219.409 217.648 85.8% 84.2% UHT 107.104 123.653 48.8% 56.8% NBA Arla 33
56.578 58.262 25.8% 26.8% TFBOYS ZUO Fun C 34025% 100 C 55.727 35.733 25.4% 16.4% 170 16.443 19.884 6.4% 7.7% + + 34
17.835 19.338 7.0% 7.5% Arla Arla Baby & Me 1.957 1.488 0.8% 0.6% - Arla Arla Foods 33 861 810 35
89 2020 53 1510 3.1 7.73 412 53 2,2005,424 1,496 165 1+1 36
30 11 38,800 4,364 18.715 15.037 100 100 100 37
100Top 20100 Senior100 Junior 100 MT 100 GT 15 1,406 400 100 100 100 100 100 100 GT 10 912 228 360 UHT 38
SAP 39
0.68 2,358,000 Julian Juul Wolhardt (www.mengniuir.com) (www.hkexnews.hk) Finn S. Hansen Christian Neu Julian Juul Wolhardt 40
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