The a2 Milk company asked that its shares be placed in a trading halt until Thursday after The Financial Review reported its long-awaited application was under “active review”, pending an update this week. The ASX and NZX issued please explains to the company which apeared to be giving market updates through media. A2 Milk told the ASX that company was nearing approval from the FDA but “at this stage there is no certainty as to the outcome of the application or the timing of any approval”.
Meanwhile another report in the Financial Review highlighted claims by a Daigou recruiter Wenjun Zhang (self-claimed as the largest corporate daigou in Australia for products in several categories) that2 Milk has lost sight of the power of the smaller daigou to help propel brand loyalty in the Chinese market amid a rise in nationalism of locally made products. The a2 Milk strategy has been to push more product into cross-border e-commerce.