Changes in Hong Kong stocks | Modern Animal Husbandry (01117) rose more than 9%, and its shareholding in China's Shengmu increased to more than 83%, accounting for 10% of the country's total dairy stock

The Zhitong Finance App learned that Modern Animal Husbandry (01117) has increased by more than 9%, and the cumulative increase since June 26 has exceeded 90%. As of press release, it rose 8.52% to HK$1.72, with a turnover of HK$104 million.

According to the news, Hyundai Animal Husbandry and China's Holy Animal Husbandry jointly announced that Hyundai Animal Husbandry's mandatory unconditional cash offer has ended. Modern Animal Husbandry and its supporters together hold about 7 billion shares, accounting for about 83.52% of the issued share capital. After the acquisition was completed, Hyundai Animal Husbandry and China's Shengmu dairy cows reached a total of 604,000 heads, accounting for 10.4% of the country's total inventory.

Furthermore, according to Hyundai Animal Husbandry's recent earnings report, the profit before tax for the first half of the year is expected to be no less than 43 million yuan, turning a loss into a profit over the previous year. Huaxi Securities pointed out that in the first half of the year, the company's profit increased confidence in a significant improvement in annual profits, gradually progressing from financial improvements on the reporting side to improvements in operating profits. Furthermore, leading animal husbandry companies turned losses into profits, and it was initially revealed that the milk price cycle has entered a reversal phase.