The ASX’s China-focused dairy formula stocks are showing signs of recovery after a lean few months, with the majority of companies seeing share price improvement and a new business set to join them.

The sub-sector is up 6 per cent in the past month, though year-on-year is still down 15 per cent.

Today the crew gains a new member, with Australian Nutrition Dairy & Sports (ASX:AN1) to join the official list. The company was raising money in February to fund sales and marketing for its range of dairy and protein formula.

Bubs Australia (ASX:BUB) is currently leading the way, with its shares rising 42 per cent in the past month to 79c.

That is thanks to news $1.3 billion domestic Chinese infant formula business Beingmate would distribute and promote Bubs’ infant formula and organic baby food products in China.

A recovering Bellamy’s (ASX:BAL) has regained 30 per cent in that time, boosting its market cap back over the billion-dollar mark, with shares sitting at $11.27 a pop on Tuesday.

It is still down 42 per cent year-on-year, however.

Clover Corp (ASX:CLV) is another small cap punching above its weight, with its shares rising 19 per cent in the past month, after it reported a 10 per cent boost in revenue and 40 per cent boost in profit for the 2019 half-year.

Clover last year cited Chinese enthusiasm for its nutrient-rich formula additives as a key reason for a doubling in full-year profit.

Read: Dairy formula – who’s dabbling in it right now and are they exporting to China?

Wattle Health (ASX:WHA) has suffered a 15 per cent drop in the past month, down to 76c though it announced during the period a joint venture to create organic A2 nutritional dairy powder as well as finalising a Chinese supply agreement.

Other bellwether stocks, A2 Milk (ASX:A2M) and Synlait Milk (ASX:SM1), are down 1 per cent and up 2 per cent respectively.

Here is a table of companies and share price movement. Click headings to sort

ASX codeCompanyToday's PriceMarket cap1-yr change1-mnth change
WHA WATTLE HEALTH AUSTRALIA LTD0.76 $ 145,877,360.00 -66-15
AHF AUSTRALIAN DAIRY NUTRITIONAL0.1275 $ 33,412,244.00 -31-4
BFC BESTON GLOBAL FOOD CO LTD0.13 $ 55,414,484.00 -38-4
A2M A2 MILK CO LTD14.03 $ 10,046,046,208.00 19-1
AU8 AUMAKE INTERNATIONAL LTD0.195 $ 52,933,568.00 -300
BXN BIOXYNE LTD0.023 $ 14,723,344.00 -720
JAT JATENERGY LTD0.058 $ 47,909,172.00 -742
SM1 SYNLAIT MILK LTD10.28 $ 1,833,451,520.00 292
AN1AUSTRALIAN NUTRITION & SPORTS LTD- ---
KTD KEYTONE DAIRY CORP LTD0.375 $ 57,000,000.00 3
CLV CLOVER CORP LTD2.11 $ 355,140,640.00 13019
BAL BELLAMY'S AUSTRALIA LTD11.27 $ 1,303,735,424.00 -4230
BUB BUBS AUSTRALIA LTD0.79 $ 353,646,656.00 1042
LGOLONGREACH OIL LTDsusp $ 9,680,000.00 suspsusp