On December 12, 2025, CHINA FEIHE (06186.HK) repurchased over 5.65 million shares on the Hong Kong Stock Exchange. The company has now cumulatively bought back more than 236 million shares, with total repurchase expenditures exceeding HK$900 million. (This forms part of FEIHE's "Share Repurchase Plan" announced in July 2025.)
Earlier, in its interim earnings forecast on July 4, 2025, FEIHE announced plans to allocate no less than RMB 1 billion for share repurchases, targeting up to 10% of its total shares. The company also reaffirmed its commitment to stable dividend payouts, projecting total 2025 dividends of at least RMB 2 billion.
FEIHE's aggressive buyback strategy and consistent dividends reflect its robust operating cash flow and management's confidence in sustained growth. As China's infant formula market leader for six consecutive years, FEIHE exemplifies high-quality development in the dairy industry.
In October 2025, FEIHE launched its "New Generation, Better Fit" initiative, achieving breakthroughs across four dimensions: full-industry chain optimization, human milk-inspired formulations, fresh nutrition, and feeding efficacy. Its proprietary "Fresh Nutrition System" ensures end-to-end quality control from milk sources to finished products. The company has achieved 100% self-sufficiency in producing 11 core ingredients and full supply-chain traceability, advancing its "fresh nutrition" philosophy into a "better fit" era.
Recently, FEIHE introduced two new products—Ji Cui and Qi Cui—embodying its upgraded "New Generation, Better Fit" approach. These innovations pioneer "freshness-from-source" standards in infant formula, propelling the industry into a 6.0 era of "human milk-inspired formulas + fresh-extraction active processing."
Beyond industry leadership, FEIHE maintains strong social responsibility, donating RMB 840 million by end-2024 across healthcare, education, and maternal-infant care initiatives. Since 2022, its "Supporting Longjiang Education" program has invested over RMB 65 million to benefit 3.3 million teachers and students.
Simultaneously, FEIHE drives innovation with R&D spending growing at a 30% CAGR from 2018–2024. In 2025, it unveiled "Fresh Milk Protein Extraction Technology" and established a world-leading HMOs (Human Milk Oligosaccharides) database. Expanding its "Whole Lifecycle Nutrition" strategy, FEIHE has diversified into children's and adult functional nutrition products, including protein supplements like Ai Ben Active.
Internationally, FEIHE obtained Canadian infant formula production certification in March 2024, with products now available in 1,500+ North American stores including Walmart.
From share buybacks to groundbreaking product launches, FEIHE signals a new phase of high-quality growth, positioning itself for a promising future.
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