Thanks healthyinvestor for that link.IMO, a2m is very exposed...

Thanks healthyinvestor for that link.

IMO, a2m is very exposed right now from an opportunistic takeover. M&A is definitely a near term possibility.

DB has outlined a base case scenario in his qualitative outlook with no allowance for retail Daigou coming back anytime soon.

The conservative outlook is typical for a new ceo who wants to avoid future downgrades and will own any upside improvements from his mngt decisions. This is borne out by his October investor day as this will be his baby rather than reporting last weeks results, based on decisions from previous mngt.

I was heartened to hear that he agreed with the strategy behind the MVM purchase and his hints that they will be introducing new products in the super premium China market and also heavily target theChina domestic online with liquid milk( fresh and UHT) and milk powders. This platform is where A2m is under represented.

overall, I feel DB has Re-set the company to succeed from new reporting structures to mngt appointments and with the world opening up by christmas(hopefully), we should benefit from the mobility which will foster the re-emergence of Daigou.