呈交日期： 2025年10月24日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02319 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | | 庫存股份數目 | 每股發行/出售價 (註4) | 已發行股份總數 | | 於下列日期開始時的結存(註1) ...

Core Insights - BlackRock's stake in Mengniu Dairy's H-shares decreased from 6.02% to 5.97% as of October 20 [1] Company Summary - BlackRock's ownership in Mengniu Dairy has seen a slight reduction, indicating potential shifts in investment strategy or market conditions [1]

Core Insights - The HICOOL2025 Global Entrepreneur Summit was held in Beijing, focusing on creating a global innovation and entrepreneurship ecosystem, with Mengniu Group showcasing its initiatives [1][3] - Mengniu's Vice President Li Pengcheng emphasized the company's commitment to innovation, digital transformation, and green transition to enhance productivity and support the dairy industry's modernization [3][4] Group 1: Innovation Initiatives - Mengniu is implementing a "one body, two wings" strategy, focusing on innovation, digital upgrades, and green transformation to develop new productivity [4] - The company has cultivated six domestic alfalfa varieties at its Inner Mongolia research base, achieving over 90% import substitution [4] - Mengniu is executing a "Million Dairy Cattle Genetic Improvement Plan" and has established two national core breeding farms [4] Group 2: Digital Transformation - Mengniu is advancing a dual "digital flywheel" strategy, embracing AI and accelerating the application of IoT, digital twins, and smart detection technologies [4] - The establishment of smart factories and pastures in regions like Ningxia and Wuhan aims to enhance industrial efficiency and lead the digital transformation of the industry [4] - The company is also focusing on channel innovation and product traceability through digital applications, achieving efficiency, cost reduction, and precision [4] Group 3: Green Transition - Mengniu is committed to sustainable development across the entire industry chain, promoting green organic pastures and transforming over 200 square kilometers of desert into an oasis [4] - The company has built 37 national-level green factories and two zero-carbon factories, emphasizing environmental responsibility [4] - Initiatives such as packaging recycling and beach clean-up campaigns are part of Mengniu's efforts to encourage broader participation in green practices [4] Group 4: Health and Nutrition Focus - Mengniu has successfully incubated several health and nutrition projects, focusing on precision nutrition, sports nutrition, and special medical foods [4] - The company aims to collaborate with the HICOOL platform and various societal forces to develop new productivity and enhance the dairy growth curve [4]

Major Events - Minglue Technology (02718) plans to offer 7.219 million Class A shares globally from October 23 to October 28, with cornerstone subscriptions amounting to $59 million [1] - Wisco Properties (00230) received a privatization offer from Wisco Hong Kong at a premium of approximately 104.08%, with trading resuming on October 24 [1] - Junyu Foundation (01757) was acquired by China Venture Capital Holdings for 75% of its shares at a discount of about 79.06%, with trading resuming on October 24 [1] - Kangda Foods (00834) was acquired by Gaosi Shi for approximately 54.69% of the company’s shares at a premium of about 16.23%, with trading resuming on October 24 [1] - Hutchison China MediTech (00013) presented data on HMPL-A251 at the AACR-NCI-EORTC International Conference on Molecular Targeted and Cancer Therapeutics [1] - Giant Bio (02367) received a medical device registration certificate for its Type I α1 collagen lyophilized fiber product [1] - Yiming Anke-B (01541) completed the first patient dosing in the Phase IB/II clinical trial of IMM2510 combined with IMM01 [1] - Heng Rui Medicine (01276) received approval to conduct clinical trials for injection of Rikan Trastuzumab [1] - Hansoh Pharmaceutical (03692) had its application for HS-10365 capsule marketing approval accepted by the National Medical Products Administration [1] - Baixin An-B (02185) completed market access and the first commercial surgery for the IBERIS® RDN system in Switzerland [1] - Haotian International Construction Investment (01341) purchased a total of 646 units of Ethereum as of October 23 [1] Share Buybacks/Reductions - Cornerstone Pharmaceuticals-B (02616) saw CEO Yang Jianxin and senior management purchase an additional 1 million shares [2] - Midea Group (00300) repurchased 1.3434 million A shares for approximately 99.998 million yuan on October 23 [2] - China Communications Construction (01800) repurchased 119.45 million A shares for approximately 10.5994 million yuan on October 23 [2] - Mengniu Dairy (02319) repurchased 700,000 shares for approximately 10.0692 million HKD on October 23 [2] - Lianlian Digital (02598) spent about 7.5555 million HKD to repurchase 967,000 shares on October 23 [2] - Lianyi Rong Technology-W (09959) repurchased 2.47 million shares for approximately 7.4137 million HKD on October 23 [2] - Heng Rui Medicine (01276) repurchased 97,500 A shares for approximately 6.2808 million yuan on October 23 [2] - Gushengtang (02273) repurchased 19,860 shares for approximately 5.8634 million HKD on October 23 [2] Operating Performance - Ping An Good Doctor (01833) reported total revenue of approximately 3.725 billion yuan for the first three quarters, a year-on-year increase of 13.6%, and plans to continue expanding AI technology to enhance medical service efficiency and quality [2] - Sands China Ltd. (01928) reported a 7.5% year-on-year increase in net revenue to $1.9 billion for the third quarter [2] - Livzon Pharmaceutical (01513) announced a net profit attributable to shareholders of 1.754 billion yuan for the first three quarters, a year-on-year increase of 4.86% [2] - China Railway Construction (01186) signed new contracts totaling 1.518765 trillion yuan in the first three quarters, a year-on-year increase of 3.08% [2] - Prada (01913) reported net revenue of 4.07 billion euros for the first three quarters, a year-on-year increase of 9% [2] Additional Performance Metrics - Baio Family Interactive (02100) reported 10.2 million active accounts in the third quarter, a year-on-year increase of 37.8% [3] - Anton Oilfield Services (03337) secured new orders worth 1.273 billion yuan in the third quarter [3]

Summary of Key Points Core Viewpoint - Mengniu Dairy has been actively repurchasing its shares, indicating a strategy to enhance shareholder value amidst market fluctuations [2]. Share Buyback Details - On October 23, 2025, Mengniu Dairy repurchased 700,000 shares at a price range of HKD 14.330 to HKD 14.400, totaling HKD 10.0692 million [2]. - The stock closed at HKD 14.400 on the same day, reflecting a 0.42% increase, with a total trading volume of HKD 138 million [2]. - Since October 16, 2025, the company has conducted buybacks for six consecutive days, acquiring a total of 4.6 million shares for HKD 66.0454 million, despite a cumulative stock price decline of 1.03% during this period [2]. Year-to-Date Buyback Activity - Year-to-date, Mengniu Dairy has executed 97 buybacks, acquiring a total of 29.368 million shares for a total expenditure of HKD 468 million [2].

Core Viewpoint - Mengniu Dairy (02319) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1: Company Actions - The company plans to repurchase 700,000 shares at a total cost of HKD 10.0692 million [1] - The buyback price per share ranges from HKD 14.33 to HKD 14.40 [1]

Core Viewpoint - Mengniu Dairy (02319) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Summary by Categories Company Actions - The company plans to repurchase 700,000 shares at a total cost of HKD 10.0692 million [1] - The buyback price per share ranges from HKD 14.33 to HKD 14.4 [1] Financial Implications - The total expenditure for the buyback reflects the company's strategy to enhance shareholder value [1]

格隆汇10月23日丨蒙牛乳业(02319.HK)公告，10月23日耗资1006.9万港元回购70万股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中國蒙牛乳業有限公司 呈交日期： 2025年10月23日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02319 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫 ...

Core Insights - The dairy industry is facing increasing survival pressures, with major players like Mengniu and Yili needing to collaborate to reshape the industry landscape [3][8] - The average price of fresh milk in Q2 this year was only 3.04 yuan/kg, significantly below the breakeven point of 3.5 yuan/kg for most farms, leading to over 90% of dairy farms operating at a loss [3][8] Company Strategies - Mengniu's premium product, "Te Long Su," has achieved sales exceeding 30 billion yuan, becoming the largest single product in the global dairy industry, while also launching a new "desert organic" product [5][8] - Yili's "Jindian" focuses on creating a high-end image through organic branding but lacks a clear connection between organic and source quality, which may limit its competitive edge [5][8] Market Trends - The dairy market is characterized by a dominance of liquid milk, with 92.7% of total dairy production in China being liquid milk, while deep-processed products like cheese and butter account for less than 7.3% [8][9] - The B2B dairy market has expanded to a scale of hundreds of billions, with significant demand for dairy products from coffee chains like Starbucks and Luckin Coffee [9] Competitive Landscape - Both Mengniu and Yili have faced challenges with product packaging similarities, leading to consumer confusion, but Mengniu has chosen to focus on its development strategy rather than legal disputes [6][7] - The overall dairy consumption has declined, with a 9.6% drop in sales across all channels, prompting companies to shift focus towards product quality and pricing [7][8]