CITI says sell, page-7

The Chinese dairy companies can say whatever they want but unfortunately all dairy producers in mainland China are seen by the Chinese as medium to low end product. A2 and to a lesser extant Bellameys are seen as high end. Another analogy is Geely saying they are after the market share that MB and Audi have in China but no amount of browbeating, posturing and discounting is going to get you market share when the Chinese people perceive your product to be low end or worse still taking a chance health-wise in feeding it to your loved ones.

The middle class buying choice in IF is not going to be swayed by this mans words or anyone else's. It takes many years to build up your brand to be seen to be a top end product and only one scandal to trash your reputation which many a Chinese dairy company has done in recent times to A2 benefit.

Maybe one day the day will come that a Chinese IF company will be seen in the same light as A2 or Bellamys but can any of us actually believe, in the next 20years or more, with some of Chinese people that are willing to seize any opportunity along the production supply process to make a quick buck ?