Gained share in what exactly? The report was made vague by intention. The only data that is important is the total number of tins of infant formula sold by A2M each year, and we know there have been sheer drops in that number. As far as I am concern, there is no chance for the number to ever grow again, let alone return to the level seen prior to Covid. All the data provided in the report by A2M, I believe, are superfluous and was intentionally designed to give the illusion that things are okay. It was corporate tactic 101. The reality is that things are not okay and all the damage sustained by A2M is permanent and will only get worse over time. In addition to all the market related issues, A2M’s entire operation, its entire existence, is highly dependent on China’s whims, which threatens the company’s existence. Case in point: Bellamy.
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