You have constructed an interpretation that suits your narrative and then argue against it. Basically you are arguing against your own point, so there is nothing I can say to that.
What I have been saying all along and have reiterated is the fact that A2M is facing two systemic issues: the massive drop in babies being born in China; and the increasing competition posed by Chinese domestic brands. The fact that other international brands are also struggling is hard proof of this.
$6.90 Party, page-17
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