此次榜单的发布，不仅是对上榜企业可持续发展实践的权威肯定，更向全行业传递了ESG核心价值理念。面对全球性挑战与高质量发展的时代要求，ESG 已不再是企业的"加分项"，而是不可或缺的"必修课"。我们号召更多企业以百强标杆为榜样，重视 ESG 体系建设与实践创新，将ESG理念深度融入战略 规划、生产运营与产业链协同之中，通过绿色投资、技术革新、责任担当与治理升级，实现商业价值与社会价值的共生共赢。 附："2025中国企业ESG百强"榜单 | 排名 | 公司名称 | 公司标识 | 得分星级 行业分类 | | | --- | --- | --- | --- | --- | | | 建设银行 SH601939 | 山国建成家 | ★★★★★ | 金融 | | | 中国移动 (HK0941) | ■国移动 | ★★★★★ | 电信服务 | | | 农业银行 (HK1288) | 中国农业银行 C | ★★★★★ | 美部 | | 4 | 腾讯 容股 HK0700 | Tencent 腾讯 | ★★★★★ | 信息技术 | | 5 | 中国银行 SH601988 | 中国娱行 | ★★★★★ | 金融 | | 24 | 中 ...

Core Viewpoint - Nestlé has initiated a global recall of infant formula products due to potential quality issues with ARA (Arachidonic Acid) sourced from suppliers, affecting over 50 countries and raising public concern about the safety of infant formula ingredients [1] Group 1: Company Responses - Mengniu stated that its ARA raw material suppliers are unrelated to the European recall incident, and all products undergo strict quality control [3] - Feihe confirmed that its ARA raw materials are not affected by any issues related to Bacillus cereus toxins, and the company adheres to stringent quality standards [3] - Junlebao mentioned that its ARA suppliers are Roget and Runke Bio, and the company follows internal control standards that exceed national regulations [3] - Danone emphasized that all its infant formula products are produced under high standards and do not use ARA from the suppliers involved in the recall [4] - Arla conducted a comprehensive review of its infant nutrition products and confirmed that its ARA suppliers are not linked to the recall issues [4] - HiPP stated that the ARA used in its products is sourced from suppliers not involved in the recall, ensuring safety and reliability [4] Group 2: Regulatory Oversight - The State Council's Food Safety Office and the Market Supervision Administration have urged Nestlé (China) to effectively manage the recall of affected products in China, ensuring consumer rights are protected [2] - The recall in the Chinese market includes four brands: Litojing, Platinum Enfamil, Shuyi Enfamil, and Wyeth's children's growth milk powder, totaling 30 batches [2]

北京商报讯近日，雀巢因供应商提供的花生四烯酸（ARA）可能含有蜡样芽孢杆菌呕吐毒素 （Cereulide），预防性召回多批次婴幼儿配方奶粉，多家供应商和乳企纷纷回应。1 月 9 日，中国飞鹤 向北京商报记者回应称，旗下产品的ARA原料不受任何蜡样芽胞杆菌毒素相关问题的影响，可放心食 用。 飞鹤进一步强调，产品均采用粉状ARA作为原料，与涉事外资公司召回产品所使用的液态ARA非同一 种原料。其所用的ARA等核心原料入厂前均执行严于欧盟标准的内部质量标准，在生产过程中制定和 严格遵循对蜡样芽孢杆菌在内的微生物指标检测频率及质量标准，以确保生产过程无污染，产品各项指 标检测合格后方能出厂。 （文章来源：北京商报） ...

Group 1 - The article discusses the importance of infant complementary foods, which include various types of food beyond breast milk, such as juices, purees, and solid foods, emphasizing the need for balanced nutrition during the critical growth period of infants [2] - The report titled "2026-2032 China Infant Formula Market Panorama Survey and Investment Potential Analysis" consists of eleven chapters, covering the market development environment, operational status, competitive landscape, key enterprise analysis, and future trends in the infant food industry [2] - The report serves as a crucial tool for understanding the infant food industry and for potential investors looking to enter this market [2] Group 2 - The research data is primarily sourced from national statistics, customs data, survey data, and various market monitoring databases, ensuring a comprehensive analysis of the infant formula industry [3] - The report includes an overview of the infant formula industry, its development environment, and the current operational status, along with a competitive analysis of the market [3][4] - The analysis covers the macroeconomic environment in China, including population birth rates and the implications for the infant formula market from 2021 to 2025 [4] Group 3 - The report highlights the competitive landscape of the infant formula market, noting the increasing competition from foreign brands and the strategies domestic brands must adopt to maintain market share [5][6] - It discusses the significance of product quality and brand value as key factors for success in the high-end infant formula market, which is expected to see significant growth [10][11] - The report predicts that the infant formula market will experience a shift towards high-quality, natural products, with an emphasis on organic options [11]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國飛鶴有限公司 呈交日期: 2026年1月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06186 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000,000 | USD | 0.000000025 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 2,000,000,000,000 | USD | 0.000000025 | USD | | 50,000 | 本月底法定/註冊股本總額： U ...

来源：瞭望智库 "我是黑土地的孩子，一辈子就想做'母亲的事业'，做良心的事业。" 说起乳业，飞鹤董事长冷友斌的语速不自觉地放得很慢，思绪仿佛回到童年的黑龙江农垦牧场。牧场的 雾气，牛棚的热气，为家里十几头牛割草、挤奶的背影……让他难以忘怀。从那个时候开始，这个生在 黑土地、长在牛棚边的孩子，再没离开过乳业。 在同行眼中，冷友斌总爱做些"不合时宜的傻事"，自建牧场、自研生产线，这些重资产的投入一度让乳 业圈不看好。飞鹤却能逆势翻盘，从地方小厂逐渐蜕变为国产奶粉标杆，乃至将中国婴儿奶粉推向全球 舞台。有人说他"敢赌""有魄力"，但在冷友斌看来，与其说是"赌赢了"，不如说是有战略眼光，选对了 方向，且坚定专注于婴儿奶粉事业。 40年来，中国乳业经历了追赶与重塑，冷友斌既是见证者，也是破局者。飞鹤的逆袭轨迹，也是中国乳 业从低谷到奋起、从跟跑到领跑的缩影。他和飞鹤的故事，有中国乳业如何学习、如何创新、如何超越 又如何在世界舞台上重新定义自己的探索实践。 为了探寻这位中国乳业坚守者的奋斗故事，瞭望智库携手中华酒打造的《品味中华·对话新时代企业 家》栏目走进飞鹤，与中国飞鹤董事长冷友斌展开深度对话，揭开那些不为人知的坚持 ...

Summary of Key Points Core Viewpoint - On December 30, 61 Hong Kong-listed companies conducted share buybacks, totaling 45.6855 million shares and an aggregate amount of HKD 906 million [1]. Group 1: Buyback Details - Tencent Holdings repurchased 1.062 million shares for HKD 636.5 million, with a highest price of HKD 600.5 and a lowest price of HKD 594.5, bringing its total buyback amount for the year to HKD 79.401 billion [1][2]. - China COSCO Shipping Holdings repurchased 4.3715 million shares for HKD 61.0054 million, with a highest price of HKD 14.06 and a lowest price of HKD 13.86, totaling HKD 6.9266 billion for the year [1][2]. - China Feihe repurchased 8.837 million shares for HKD 36.3424 million, with a highest price of HKD 4.12 and a lowest price of HKD 4.07, totaling HKD 1.10005 billion for the year [1][2]. Group 2: Notable Buybacks - The largest buyback amount on December 30 was from Tencent Holdings at HKD 636.5 million, followed by China COSCO Shipping Holdings at HKD 61.0054 million [1][2]. - In terms of share quantity, China Feihe had the highest buyback volume on December 30 with 8.837 million shares, followed by Maple Leaf Education and China COSCO Shipping Holdings with 7.648 million and 4.3715 million shares, respectively [1][2]. Group 3: First-Time Buybacks - Notably, Sunac Services and Changfeng Pharmaceutical conducted their first buybacks of the year on this date [2].

Market Overview - The Hong Kong stock market opened slightly lower on December 31, with the Hang Seng Index down 0.21% at 25,801.49 points, the Hang Seng Tech Index down 0.22% at 5,566.24 points, and the National Enterprises Index down 0.23% at 8,970.49 points [1] - Major tech stocks mostly declined, with Alibaba down 0.55%, Tencent down 0.42%, and JD.com down 1.32%. Conversely, Xiaomi rose by 0.86% [1] Company News - Zijin Mining (02899.HK) expects to achieve a net profit of approximately RMB 51-52 billion for the fiscal year 2025, representing a year-on-year increase of about 59%-62% due to increased production and sales prices [2] - Starry Development (00640.HK) reported revenue of approximately HKD 835 million for the fiscal year ending September 30, 2025, a year-on-year increase of 13.4%, and a net profit of approximately HKD 122 million, up 21.7% [2] - Shanghai Electric (02727.HK) plans to sell a 47.4% stake in Electric Guoxuan and waive its preemptive rights to an additional 3.6% stake [3] - CNOOC Services (02883.HK) has recently purchased bank wealth management products totaling HKD 3 billion [4] Clinical Trials and Drug Approvals - Fosun Pharma (02196.HK) has initiated clinical trials for its integrated diagnosis and treatment nuclear medicine project SRT-007 within China [5] - Hutchison China MediTech (00013.HK) announced that its new drug application for Savolitinib, intended for treating gastric cancer patients with MET amplification, has been accepted and prioritized for review [5] Strategic Partnerships - Linkong Biotechnology Group (00690.HK) has established a strategic partnership with Wenzhou Medical University National Engineering Research Center and the Ouhai District People's Government [6] Financing Activities - Youlian International Education Leasing (01563.HK) has entered into a financing lease agreement for energy-saving equipment [7] Stock Buybacks - Tencent Holdings (00700.HK) repurchased 1.062 million shares for HKD 636 million at prices ranging from HKD 594.5 to HKD 600.5 [8] - COSCO Shipping Holdings (01919.HK) repurchased 4.3715 million shares for HKD 61.05 million at prices between HKD 13.86 and HKD 14.06 [9] - China Feihe (06186.HK) repurchased 8.837 million shares for HKD 36.34 million at prices between HKD 4.07 and HKD 4.12 [10] - Kuaishou-W (01024.HK) repurchased approximately 464,000 shares for HKD 29.88 million at prices between HKD 63.75 and HKD 64.75 [10] - Giant Bio (02367.HK) repurchased 400,000 shares for HKD 13.44 million at prices between HKD 33.48 and HKD 33.76 [11] Institutional Insights - Everbright Securities notes that the overall profitability of Hong Kong stocks remains strong, with relatively scarce assets in internet, new consumption, and innovative pharmaceuticals. Despite recent gains, valuations are still considered low, suggesting long-term investment potential [12] - Founder Securities highlights positive signals from government policies aimed at optimizing the "two new" policies, which may enhance the competitive environment in the automotive industry [12] - CITIC Securities anticipates a 7.9% increase in Hong Kong private residential transaction volumes in 2026, driven by a favorable interest rate environment and increased asset allocation demand [12]

Summary of Key Points Core Viewpoint - The article highlights the significant stock buybacks by various companies in Hong Kong, indicating a trend of companies returning capital to shareholders through repurchases, with notable amounts recorded in December 30. Group 1: Stock Buybacks - On December 30, a total of 61 Hong Kong stocks were involved in company buybacks, with 7 stocks having buyback amounts exceeding 10 million Hong Kong dollars [1] - Tencent Holdings, China COSCO Shipping Holdings, and China Feihe had the largest buyback amounts, with Tencent repurchasing 636 million Hong Kong dollars, COSCO 61.05 million Hong Kong dollars, and Feihe 36.34 million Hong Kong dollars [1] Group 2: Year-to-Date Buyback Data - As of December 30, 268 Hong Kong stocks have conducted buybacks this year, with 72 stocks having cumulative buyback amounts exceeding 100 million Hong Kong dollars [1] - The companies with the highest cumulative buyback amounts for the year include Tencent Holdings at 79.401 billion Hong Kong dollars, HSBC Holdings at 30.257 billion Hong Kong dollars, and AIA Group at 17.693 billion Hong Kong dollars [1]

Summary of Key Points Core Viewpoint - A total of 70 companies conducted share buybacks on December 30, 2025, with Tencent Holdings (00700) leading in both the number of shares repurchased and the total amount spent on buybacks. Group 1: Buyback Details - Tencent Holdings (00700) repurchased 1.062 million shares for a total of 636 million, representing 1.098% of its total share capital [2][3] - China Merchants Industry Holdings (01919) repurchased 4.3715 million shares for 61.05 million, accounting for 4.283% of its total share capital [2][3] - China Feihe (06186) repurchased 8.837 million shares for 36.34 million, which is 2.863% of its total share capital [2][3] Group 2: Other Notable Buybacks - Kuaishou-W (01024) repurchased 464,000 shares for 29.88 million, representing 0.413% of its total share capital [2][3] - Vitasoy International (00345) repurchased 626,000 shares for 3.99 million, which is 2.368% of its total share capital [2][3] - Mindray Bio-Medical Electronics (02367) repurchased 400,000 shares for 13.44 million, accounting for 0.486% of its total share capital [2][3] Group 3: Additional Companies - Keep (03650) repurchased 100,000 shares for 35.84 million, representing 0.146% of its total share capital [3] - Health Road (02587) repurchased 98,000 shares for 42.94 million, which is 0.116% of its total share capital [3] - Longwind Pharmaceutical (02652) repurchased 24,000 shares for 83.02 million, accounting for 0.008% of its total share capital [3]