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： 中國飛鶴有限公司 呈交日期： 2025年12月2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) | 06186 | 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 ...

Summary of Key Points Core Viewpoint - A total of 40 companies conducted share buybacks on December 1, 2025, with Tencent Holdings (00700) leading in both the number of shares repurchased and the total amount spent. Group 1: Buyback Details - Tencent Holdings (00700) repurchased 1.029 million shares for a total of 636 million yuan, representing 0.881% of its total share capital with a year-to-date cumulative buyback of 80.99 million shares [1][2] - Xiaomi Group-W (01810) repurchased 10 million shares for 402 million yuan, accounting for 0.290% of its total share capital with a cumulative buyback of 75.795 million shares [2] - VITASOY International (00345) repurchased 1.974 million shares for 13.0162 million yuan, which is 1.678% of its total share capital with a cumulative buyback of 17.614 million shares [2] - China Merchants Industry Holdings (01919) repurchased 945,000 shares for 12.7619 million yuan, representing 1.998% of its total share capital with a cumulative buyback of 57.543 million shares [2] - Other notable buybacks include China Feihe (06186) with 1.5 million shares for 6.3165 million yuan (2.105% of total share capital) and Mengniu Dairy (02319) with 200,000 shares for 3.0355 million yuan (0.711% of total share capital) [2][3] Group 2: Additional Companies - Other companies that conducted buybacks include: - 瑞声科技 (02018) with 300,000 shares for 11.3636 million yuan (0.420% of total share capital) [2] - 国鸿氢能 (09663) with 1.581 million shares for 7.981 million yuan (0.824% of total share capital) [2] - 美高梅中国 (02282) with 380,000 shares for 6.2746 million yuan (0.774% of total share capital) [2] - 德康农牧 (02419) with 72,600 shares for 5.3578 million yuan (0.679% of total share capital) [2] - 碧桂园服务 (06098) with 687,000 shares for 4.4254 million yuan (0.686% of total share capital) [2]

（文章来源：证券时报网） 今年以来该股累计进行28次回购，合计回购1.91亿股，累计回购金额8.16亿港元。（数据宝） 中国飞鹤回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.12.01 | 150.00 | 4.230 | 4.190 | 631.65 | | 2025.11.28 | 230.00 | 4.220 | 4.150 | 958.58 | | 2025.11.27 | 400.00 | 4.230 | 4.120 | 1667.63 | | 2025.11.26 | 230.00 | 4.140 | 4.120 | 949.01 | | 2025.11.25 | 220.00 | 4.140 | 4.110 | 907.80 | | 2025.11.24 | 723.30 | 4.170 | 4.110 | 2996.68 | | 2025.11.21 | 1230.00 | 4.200 | 4.140 | 5140.41 | | 2025.11. ...

中国飞鹤(06186)发布公告，于2025年12月1日斥资631.65万港元回购150万股。 ...

智通财经APP讯，中国飞鹤(06186)发布公告，于2025年12月1日斥资631.65万港元回购150万股。 ...

格隆汇12月1日丨中国飞鹤(06186.HK)发布公告，2025年12月1日耗资631.65万港元回购150万股，回购 价格每股4.19-4.23港元。 ...

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： 中國飛鶴有限公司 呈交日期： 2025年12月1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) | 06186 | 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 ...

Core Insights - China Feihe held its 2025 Partner Conference in Wuhan, focusing on high-quality development in the dairy industry and emphasizing the company's commitment to innovation and collaboration with partners [1][2]. Group 1: Market Position and Growth - The global infant formula market is stabilizing, with significant growth in the ultra-premium segment, driven by consumption upgrades and supportive fertility policies in China, which remains the largest market for infant formula [2]. - Feihe has established itself as a market leader by pioneering the first complete industrial chain in the industry in 2006 and leading various initiatives, including the national "14th Five-Year Plan" key projects [2][3]. Group 2: Innovation and Product Development - Feihe's "New Generation More Suitable" strategy aims to address evolving consumer needs through comprehensive breakthroughs in the supply chain, breast milk-based formulas, and active nutrition systems [3]. - The company has introduced the "Fresh Nutrition System," which utilizes fresh milk extraction technology to ensure 100% self-sufficiency in key nutrients and traceability of raw materials [3]. Group 3: Collaboration and Ecosystem - The company emphasizes a "coexistence" philosophy, fostering a win-win ecosystem with partners and aligning closely with consumer needs to drive industry progress [4]. - Feihe has recognized outstanding partners at the conference, highlighting collaborative achievements in channel expansion, marketing innovation, and service upgrades [2][4]. Group 4: International Expansion - Feihe has accelerated its internationalization, obtaining the first infant formula production license in Canada and expanding its presence in over 1,500 major supermarkets in North America, with a 270% increase in store numbers in the first half of 2025 [5]. - The company is also advancing its product offerings in Southeast Asia and focusing on adult nutrition and functional products to enhance its product matrix [5].

Core Insights - China Feihe held its 2025 Partner Conference in Wuhan, focusing on high-quality development in the dairy industry and emphasizing the company's commitment to innovation and collaboration with partners [1][3][17] Industry Overview - The overall mother and baby market is stabilizing, with significant growth in the ultra-premium segment, driven by consumption upgrades and supportive fertility policies [3][5] - China remains the largest infant formula market globally, with steady release of consumption potential [3] Company Achievements - Feihe has established itself as a market leader by pioneering the first complete industrial chain in the infant formula sector in 2006 and leading various innovations, including the "Fresh Nutrition System" [5][9] - The company has achieved 100% self-supply capability for 11 key nutrients and is the first in the industry to implement raw material traceability [9][11] Strategic Direction - Feihe's "New Generation More Suitable" strategy aims to address evolving consumer needs and enhance product quality across the entire supply chain [7][9] - The company plans to launch new products that significantly improve nutrient absorption and cognitive development for infants [9][11] Collaborative Ecosystem - Feihe emphasizes a collaborative approach with partners, recognizing their contributions to expanding channels, marketing innovations, and service upgrades [5][15] - The company has accelerated its international expansion, securing a production license in Canada and increasing its presence in North America and Southeast Asia [15][16] Future Outlook - Feihe aims to continue enhancing its product offerings across all life stages, focusing on adult nutrition and functional products, while also expanding its market reach [15][16][17]

Core Viewpoint - China Feihe has been actively repurchasing its shares, indicating a strategy to support its stock price and enhance shareholder value [2][3] Share Buyback Summary - On November 28, China Feihe repurchased 2.3 million shares at a price range of HKD 4.150 to HKD 4.220, totaling HKD 9.5858 million [2] - The stock closed at HKD 4.140 on the same day, reflecting a decrease of 0.24% with a total trading volume of HKD 79.1103 million [2] - Since October 24, the company has conducted share buybacks for 25 consecutive days, acquiring a total of 187 million shares for a cumulative amount of HKD 801 million [2] - During this period, the stock price has increased by 2.99% [2] - In 2025, the company has completed 27 buyback transactions, repurchasing a total of 189 million shares for a total expenditure of HKD 810 million [2] Detailed Buyback Data - The buyback details include various dates, number of shares repurchased, highest and lowest prices, and total amounts spent, showcasing a consistent buyback strategy [2][3]