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Major Chinese raw-milk producer operating large dairy farms, closely tied to Mengniu.
Major Chinese raw-milk producer operating large dairy farms, closely tied to Mengniu.
Sells raw milk under long-term supply agreements, mostly to Mengniu, so earnings depend on the milk price against feed costs (corn, alfalfa, soy) and on each cow's yield. It also breeds its own herd, so changes in the value of its cattle also affect results.
Moat: narrow (scale, customer qualification). Large-scale, quality-certified farms with a long-term supply relationship to Mengniu.
Headquarters: Beijing, China · Founded: 2005 · Employees: 9,178
Size China Modern Dairy (1117.HK) is a Hong Kong Consumer Staples company (Agricultural Commodities/Milling) with a market value of $1.37B, the 512th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$1.36 on 6 Nov 2026.
Performance Over six months the shares gained 3.0%, against -11.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue grew 5.1% over the last twelve months (peer median +0.2%); the operating margin is -15.3% (peer median 4.0%).
Valuation It trades at 1.11× book value against a peer median of 1.90× (4th cheapest of 21).
Price implies The share price implies a return on equity of about 11.4%; China Modern Dairy delivers -2.3%, so the price asks more than the business earns today.
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$14.6B | HK$13.6B | HK$14.3B | HK$14.8B | HK$14.3B |
| Revenue growth | — | -5% | -3% | +4% | — |
| Gross profit | -HK$844M | HK$538M | HK$514M | HK$474M | HK$283M |
| EBITDA | -HK$1.67B | -HK$209M | -HK$216M | -HK$381M | -HK$377M |
| Net income | -HK$218M | -HK$1.22B | -HK$1.54B | HK$194M | HK$654M |
| Free cash flow | -HK$1.15B | -HK$1.83B | -HK$2.67B | HK$841M | -HK$3.32B |
| Capital expenditure | HK$3.73B | HK$4.10B | HK$4.80B | HK$4.78B | HK$4.77B |
| Total debt | n/a | HK$24.0B | HK$18.0B | HK$14.9B | HK$15.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| China Modern Dairy 1117.HK | $1.37B | +3% | +5% | -2% | 1.11× | 11.4% |
| Inner Mongolia Yili Industrial 600887.SS | $29.3B | +15% | +2% | 18% | 3.50× | 17.8% |
| China Youran Dairy 9858.HK | $2.15B | -4% | +7% | 5% | 1.05× | 11.3% |
| Health and Happiness (H&H) International 1112.HK | $2.05B | +70% | +24% | 12% | 2.09× | 21.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1117.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.6% | -5.5% | 10th highest of 21 |
| 6-month return | +3.0% | -11.8% | 3rd highest of 20 |
| Return on equity | -2.3% | 6.1% | 6th lowest of 21 |
| Price / book | 1.11× | 1.90× | 4th cheapest of 21 |
| ROE the price implies | 11.4% | 13.2% | 9th least demanding of 21 |
| ROE delivered | -2.3% | 4.7% | 6th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| China Modern Dairy 1117.HK | Hong Kong | $1.37B | +3% | +5% | -2% | 1.11× | 11.4% | -2.3% |
| Beijing Shunxin Agriculture 000860.SZ | China | $1.36B | -4% | -20% | -6% | 1.38× | 14.7% | -6.3% |
| Adecoagro AGRO | United States | $1.30B | -31% | +7% | 3% | 0.75× | 5.5% | 3.2% |
| Del Monte DMC | United States | $1.29B | -27% | +1% | 4% | 0.64× | 5.2% | 4.0% |
| Great Wall Enterprise 1210.TW | Taiwan | $1.28B | -4% | +2% | 14% | 1.64× | 5.1% | 13.9% |
| Kernel KER.WA | Poland | $1.47B | 0% | -1% | 14% | 0.66× | 11.0% | 14.5% |
| Balrampur Chini Mills BALRAMCHIN.NS | India | $1.50B | +28% | +11% | 10% | 2.99× | 33.7% | 9.7% |
| Godrej Agrovet GODREJAGRO.NS | India | $1.23B | +3% | +9% | 21% | 5.69× | 63.8% | n/a |
| Shandong Yisheng Livestock & Poultry Breeding 002458.SZ | China | $1.54B | -16% | +15% | 13% | 2.23× | 21.0% | 13.2% |
| LT Foods LTFOODS.NS | India | $1.55B | -3% | +24% | 14% | 2.98× | 51.3% | 14.5% |
| M.P. Evans MPE.L | United Kingdom | $1.20B | -5% | +1% | 21% | 1.89× | 12.2% | 21.1% |
| Leshan Giantstar Farming & Husbandry 603477.SS | China | $1.19B | -19% | -2% | -44% | 3.29× | 24.6% | -43.7% |
| Shandong Denghai Seeds 002041.SZ | China | $1.19B | -12% | -1% | 3% | 2.14× | 14.0% | 2.7% |
| Liuliumei 6658.HK | Hong Kong | $1.58B | n/a | +6% | 24% | 7.83× | 21.0% | n/a |
| Dekon Food And Agriculture 2419.HK | Hong Kong | $1.16B | -16% | -10% | -12% | 2.54× | 17.3% | -12.2% |
| Shenzhen Agricultural Products 000061.SZ | China | $1.63B | -22% | -22% | 5% | 1.31× | 10.7% | 5.3% |
| Fujian Aonong Biological Technology Group Incorporation 603363.SS | China | $1.09B | -21% | +12% | -24% | 2.65× | 9.8% | -23.9% |
| Tecon Biology 002100.SZ | China | $1.72B | +6% | -8% | -12% | 1.80× | 9.2% | -11.8% |
| Xinjiang Guannong 600251.SS | China | $1.09B | -27% | -32% | 14% | 1.71× | 15.0% | 13.6% |
| Jiangsu Provincial Agricultural Reclamation & Dev 601952.SS | China | $1.72B | -16% | -5% | 7% | 1.59× | 6.5% | 6.8% |
| Yuan Longping High-Tech Agriculture 000998.SZ | China | $1.77B | -11% | -5% | 3% | 1.92× | 12.4% | 2.6% |