Fonterra has forecast a net loss of between £1 m ( $ 4 m ) and CNY78 m for Beingmate Mother and Child in 2018 , and is optimistic that the Chinese infant formula maker is now recovering . The turn of events is quite dramatic for China which reported its first ever loss of NZD196 m ( $ 4 m ) for the year ending 2018 because of a NZD405 m writedown on its initial NZD755 m stake in Beingmate . "If you go back five years China was not a massive market for us. 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 loss of between £1 m ( $ 4 m ) and CNY78 m for Beingmate Mother and Child in 2018 , and is optimistic that the Chinese infant formula maker is now recovering . The turn of events is quite dramatic for China which reported its first ever loss of NZD196 m ( $ 4 m ) for the year ending 2018 because of a NZD405 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 .