Ann: Appointment of Executive Director, page-23

I see A2M is showing no signs of slowing down.

In his final communication to investors as chief executive of The a2 Milk Company, Geoffrey Babidge says he is expecting further revenue growth this year after posting a 68 per cent jump in sales in 2018.
The dual-listed group, which makes milk products and baby formula, said unaudited revenue for the year ended June 30 reached $NZ922 million ($845.3 million), which came in towards the top of recent guidance.

A2M is capped at $8b on that revenue. We all know that A2M is a major established company but it provides a yard stick to multiples and value if WHA delivers on its growth moving forward. On the same revenue and profitability, WHA would have a market cap closer to $1b once its up and running with the CFDA issued. This also does not allow for other countries like Singapore, Vietnam and Malaysia. All countries WHA are in discussion with. That is on its $130m in potential revenue it has already locked in.
We all know the downside of companies, but the upside to this company is many times the current price into next year. This might indicate why the management think $16 is possible down the track. You can see a possible merger or take over coming down the track once this is all bedded down. Please dyor and it wont happen over night.