date:Feb 13, 2014
brokerage Ample Finance Group.
Mengniu stock trades at 24.8 times 12-month forward earnings, compared with an average of 19.6 times for Hong Kong-listed food products companies, according to data from StarMine. The average for the Asia-Pacific region is 18 times.
Booming Chinese demand for dairy products has sparked a raft of deals in the country's dairy sector. Food-safety scares have also boosted demand for foreign baby milk formula, pushing Chinese dairy firms to seek ties with foreign make