Fonterra has forecast a net profit of between CNY28m ( $4m ) and CNY78m for NZD755 and Child in 2018 , and is optimistic that the Chinese infant formula maker is now recovering. The turn of events is quite dramatic for Beingmate which reported its first ever loss of NZD196m ( between CNY28m ) for the year ending July because of a Chinese m writedown on its initial NZD755 m stake in Beingmate . At the same time there was the rapid expansion of the daigou trade channel - which essentially amounts to parallel importing. Fonterra holds an 18.8% stake in Beingmate , which has suffered two years of big losses following the shift in Chinese consumer buying towards online sales of infant formula and the expansion of daigou trading.
Fonterra has forecast a net profit of between CNY28m ( $4m ) and CNY78m for NZD755 and Child in 2018 , and is optimistic that the Chinese infant formula maker is now recovering. The turn of events is quite dramatic for Beingmate which reported its first ever loss of NZD196m ( between CNY28m ) for the year ending July because of a Chinese m writedown on its initial NZD755 m stake in Beingmate . Fonterra holds an 18.8% stake in Beingmate , which has suffered two years of big losses following the shift in Chinese consumer buying towards online sales of infant formula and the expansion of daigou trading.