Haitong International has released a report maintaining its "Outperform" rating for AUSNUTRIA (01717), projecting the company’s revenues for 2025, 2026, and 2027 to be HKD 7.67 billion, HKD 7.88 billion, and HKD 8.04 billion, reflecting year-on-year growth of 3.6%, 2.8%, and 2.1%, respectively. The net profit attributable to shareholders is expected to reach HKD 310 million, HKD 340 million, and HKD 390 million in the same years, with growth rates of 21.0%, 8.0%, and 15.0%. Earnings per share (EPS) are projected to be HKD 0.18, HKD 0.19, and HKD 0.22, respectively, with a target price set at HKD 3.10.
In the first half of 2025, AUSNUTRIA's overseas market has already become a vital second growth engine for the company, with revenue increases of 54.2% in the Middle East and 138.7% in North America. The report notes that the company has proactively initiated an internal code system upgrade and inventory adjustment in channels during the first half of 2025. Although this has resulted in a temporary reduction in shipment volumes, it has improved product freshness and channel transparency, contributing to the long-term health of the brand.
Moreover, AUSNUTRIA is intensifying its focus on its internationalization strategy. With a dual-driver approach from both cow and goat milk products, the goat milk formula continues to make significant inroads in overseas markets due to its differentiated advantages. The product Kabrita, which is the first infant formula goat milk product approved by the US FDA, has been successfully introduced to channels such as Walmart in North America.
The company is also advancing its "Milk Powder + Nutrition Products" family nutrition strategy, enhancing efficiency through improved global supply chain management and utilizing global resources for product innovation and upgrades. The Nutrition Care and Ai Yi Sen brands launched within the nutrition segment leverage substantial scientific research capabilities to drive category breakthroughs and inject new momentum into the company. With rapid growth in overseas markets, synergy in cow and goat milk products, and a comprehensive rise in nutrition product operations, AUSNUTRIA demonstrates considerable corporate resilience, positioning itself for steady growth amid a complex and changing market environment.