Having read the update by BAL in detail, I don't see any serious problems for BAL in the long term, there might be some minor problems in the short term though.
China is NOT a problem. More babies are born there, more middle class consumers who prefer safe and clean IF from overseas, particularly from New Zealand and Australia, more relaxed regulations which are favourable to IF producers like A2MC and BAL, more strict measures which will remove most of the small IF makers, and more positive polices from the government to encourage the development of cross-border e-commerce platforms, even Bellamy's itself anticipates that "the upcoming regulatory changes should have a positive effect in both online and offline channels"...
Why blame China then?!
I think BAL's update today is very strange and opaque, and I am expecting some clarification from the management of BAL soon...
