Pondering, page-17

The naysayers have no brains, and no insight. They don't even get close to the big picture. This morning Morgan Stanley put out a piece of trash basically insinuating that A2 was discounting and that must mean the demand is falling off. This is a complete furphy.
Yes a2 has been discounting and some cases significantly. But no demand was not falling off, it was increasing dramatically as the marketing increased the visibility and the time limit discounting drove up the demand enormously.
So we now know from the numbers and yzho147s numbers that two major seismic shifts in a2's presence in China have occurred.
1. They have gone from about 5 or 6 highest seller by units to the No I seller by units on the main ecommerce channels. This is huge because before this Aptamil used to outsell the second highest seller 2 to1. The increase in sales cannot be overemphasised and its not up ramping its fact.
2. The rate of growth of ecommerce sales has been so significant that according to yzho147 reporting of numbers on 5 main ecommerce channels that a2 is just slightly trailing Aptamil by VALUE of sales even given the discounting. This means revenue from the ecommerce channels must have grown by much more than the consensus estimates.

A2 has used the twin spears of its marketing research and increased marketing expenditure, and discounting, to grab a quantum leap in market share.