Goldman Sachs: Expects Mengniu's first quarter sales/shipping volume to strengthen, rates it as "Buy".

Goldman Sachs released a report stating that Mengniu Dairy announced its preliminary performance for the 2025 fiscal year, with annual revenue reaching 81.6 billion to 82.5 billion yuan, exceeding market expectations by about 1% at the median; the core operating profit margin basically meets market expectations. Looking ahead to 2026, Goldman Sachs points out that the key observation point is the sustainability of performance in March, expecting shipment data for January and February to increase by about high single digits, with sales volume gradually strengthening each quarter. The bank's target price for Mengniu is 20.5 Hong Kong dollars, with a "buy" rating.