Ann: 1H24 Results Call Notification, page-31

Not really. I borrowed the extract below from another site. I believe it's from Forsyth Barr news letter or something

Births in China during 2023 of 9.02m were +15% ahead of our 7.86m forecast (and likely notably ahead of market expectations). At this stage we leave our earnings forecasts for The a2 Milk Company (ATM) unchanged but increase our 2024 new birth forecasts. Under our revised industry model changes, we estimate the current share price implies ~+100 bps of China Infant Formula (IF) market share gains over the medium term, assuming ~15% EBITDA margins. We are more optimistic and forecast ~+200–250 bps of market share expansion. We continue to see the risk reward as positively skewed, particularly in light of recent constructive Kantar data and ongoing industry consolidation.
2023 new births +15% ahead of our forecast
We are not demographers and hence had low conviction in our 2023 new birth forecast but numerous anecdotes through 2023 suggested new births of around ~8m (or potentially lower). At ATM's ASM in November, management also indicated an expectation of ~8m. Expectations were low ahead of the data release and investors have been cautious on China's birth outlook. While the positive 2023 surprise isn't structurally significant in the context of China's infant population, we see this as favourable for investor sentiment.
2024 could be better again; we revise our assumptions upwards

Things I highlighted indicate that those so called market "analysts" had absolutely no clue whatsoever of what to expect and took their estimation numbers out of thin air put them into their BS modeling got BS target prices and were trying to convince everyone that this is what you should expect. Now when real data came out and which is far from their BS estimates they need time to recalibrate their BS models and algos with new BS estimations. This might take day or two and this is why algos where trading in holding pattern today. What will happen after that I don't know. But, with all possible bad news like China's birth rate, a2 removal from all possible indexes, SAMR approval, etc. (I believe Synlait saga will have positive effect at the end) behind us and if a2 management won't screw up with another miserable update at HY presentation I expect next six months should be positive share price wise.