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01717 AUSNUTRIA
RTNominal up2.310 +0.010 (+0.435%)
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15/08/2019 11:02

Blue Orca values Ausnutria Dairy (01717) at HK$5.78

[ET Net News Agency, 15 August 2019] Short-seller Blue Orca said its investigation on
Ausnutria Dairy Corp Ltd (01717) indicates that the company inflates revenues, hides
costs, misleads Chinese consumers and secretly enriches executives through undisclosed
related party transactions.
It said all of the infant milk products sold by the company in China are imported from
company-owned factories or third-party suppliers in Europe, New Zealand and Australia.
However, publicly available customs records indicate that Ausnutria is importing far
less infant milk formula than the company claims, indicating that Ausnutria is overstating
both its revenues and profits, Blue Orca noted.
It values Ausnutria at HK$5.78 per share. At 11 a.m. the shares fell 9% to HK$11.08.
(KL)

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