Core Viewpoint - China Feihe (06186.HK) announced a share buyback of 12 million shares at a cost of HKD 50.227 million on October 30 [1] Group 1 - The company executed a buyback program, indicating confidence in its stock value [1] - The total expenditure for the buyback was HKD 50.227 million [1] - The number of shares repurchased was 12 million [1]

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10月30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 。 若股份曾以超過一個每股價格發行/出售/購回/贖回，則須提供每股成交量加權平均價格。 若購回/贖回股份將於期終結存日期之後購回/贖回結算完成之時予以註銷，則該等購回/贖回股份仍屬A部所述期終結存當日的已發行股份的一部分。該等購回/贖回股份的詳情應在B部作 出披露。 第 2 頁 共 6 頁 v 1.3.0 | 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 | ...

Core Viewpoint - On October 28, 32 Hong Kong-listed companies conducted share buybacks, totaling 13.81 million shares and an aggregate amount of HKD 75.40 million [1][2]. Summary by Category Buyback Activity - The company China Feihe repurchased 5.17 million shares for HKD 21.63 million, with a highest price of HKD 4.200 and a lowest price of HKD 4.110, bringing its total buyback amount for the year to HKD 78.70 million [1][2]. - Yum China repurchased 18,200 shares for HKD 6.29 million, with a highest price of HKD 347.600 and a lowest price of HKD 344.000, accumulating a total buyback amount of HKD 1.75 billion for the year [1][2]. - Linklogis Technology-W repurchased 1.46 million shares for HKD 4.76 million, with a highest price of HKD 3.260 and a lowest price of HKD 3.230, totaling HKD 248.10 million in buybacks for the year [1][2]. Top Buyback Companies - The highest buyback amount on October 28 was from China Feihe at HKD 21.63 million, followed by Yum China at HKD 6.29 million [1][2]. - In terms of share quantity, China Feihe also led with 5.17 million shares repurchased, followed by Shoujia Technology and Linklogis Technology-W with 1.55 million and 1.46 million shares, respectively [1][2].

Core Insights - The company Feihe Aiben has been awarded the "Wiley China High Contribution Author Award" for its significant contributions to nutrition research for the elderly, highlighting the global importance of elderly nutrition needs [1][2] - The award is based on the high download rate of their impactful paper published in the journal "Food Science & Nutrition," which discusses sensory characteristics in aging and their effects on dietary intake [2][3] Research Findings - The research identifies the decline in sensory functions such as taste and smell in the elderly, which leads to decreased appetite and insufficient nutrient intake, addressing a common issue in elderly care [3] - It emphasizes the need for a specialized sensory evaluation system for the elderly and suggests further research into the neurobiological mechanisms of sensory decline [3] Product Development - Feihe Aiben has developed the "Aiben Dynamic Protein Nutrition Powder," targeting the muscle loss issue prevalent among the elderly, which affects their mobility and quality of life [4] - The product features "Aiben Dynamic Protein," a small molecule whey protein developed over seven years, designed for better absorption and digestion in older adults [4] Collaborative Efforts - The company has established the "Capital Medical University-Feihe Aiben Life Nutrition Research Center" to conduct clinical trials assessing the dual benefits of their product on muscle and bone health in the elderly [5] Future Plans - Feihe Aiben aims to enhance its research investments in elderly health, focusing on various common health issues such as brain health, immunity, and blood sugar levels, to support a healthier aging population [6]

Summary of Key Points Core Viewpoint - Multiple companies conducted share buybacks on October 28, 2025, with China Feihe (06186) leading in both the number of shares repurchased and the total amount spent. Group 1: Buyback Details - China Feihe (06186) repurchased 5.174 million shares for a total of 21.6293 million yuan, representing 0.209% of its total share capital [1][2] - Lianyi Rong Technology (09959) repurchased 1.4625 million shares for 4.7622 million yuan, accounting for 3.638% of its total share capital [2] - Zhongxu Future (09890) repurchased 301,400 shares for 4.4130 million yuan, which is 1.270% of its total share capital [2] Group 2: Other Notable Buybacks - Mengniu Dairy (02319) repurchased 300,000 shares for 4.2977 million yuan, representing 0.563% of its total share capital [2] - Jitu Express (01519) repurchased 385,000 shares for 3.8812 million yuan, which is 0.014% of its total share capital [2] - Kangning Jereh Pharmaceutical (09966) repurchased 320,000 shares for 3.7683 million yuan, accounting for 0.117% of its total share capital [2] Group 3: Additional Companies Involved - Other companies involved in the buyback include: - Guichuang Tongqiao-B (02190) with 50,000 shares repurchased for 1.2065 million yuan [2] - Green City Services (02869) with 208,000 shares repurchased for 969,700 yuan [2] - Tianfu (06868) with 2,000 shares repurchased for 60,400 yuan [3]

Core Viewpoint - China Feihe has been actively repurchasing its shares, indicating a strong commitment to enhancing shareholder value and confidence in its stock performance [2][3] Group 1: Share Buyback Details - On October 28, China Feihe repurchased 5.174 million shares at a price range of HKD 4.110 to HKD 4.200, with a total buyback amount of HKD 21.6293 million [2] - The stock closed at HKD 4.200 on the same day, reflecting a 2.44% increase, with a total trading volume of HKD 222 million [2] - Since October 24, the company has conducted buybacks for three consecutive days, totaling 16.945 million shares and a cumulative buyback amount of HKD 69.3991 million, during which the stock price increased by 4.48% [2] Group 2: Year-to-Date Buyback Summary - Year-to-date, China Feihe has completed five buyback transactions, totaling 18.945 million shares and a cumulative buyback amount of HKD 78.6991 million [3] - The detailed buyback transactions include: - October 28: 517.40 thousand shares at a maximum price of HKD 4.200 and a minimum price of HKD 4.110, totaling HKD 21.6293 million [3] - October 27: 588.60 thousand shares at a maximum price of HKD 4.090 and a minimum price of HKD 4.080, totaling HKD 24.0721 million [3] - October 24: 588.50 thousand shares at a maximum price of HKD 4.030 and a minimum price of HKD 4.020, totaling HKD 23.6977 million [3] - July 23: 100.00 thousand shares at a price of HKD 4.700, totaling HKD 4.700 million [3] - July 9: 100.00 thousand shares at a price of HKD 4.600, totaling HKD 4.600 million [3]

Investment Rating - The report provides various investment ratings for companies in the consumer staples sector, with "Outperform" ratings for companies like China Feihe, Haidilao, and China Resources Beer, while Budweiser APAC is rated as "Neutral" [1]. Core Insights - The report highlights a rise in packaging material prices and an increase in the beer spot cost index by 2.96% year-on-year, indicating upward pressure on costs in the consumer staples sector [1][35]. - The cost indices for six categories of consumer goods monitored by HTI mostly increased, with notable changes in spot and futures indices across beer, frozen food, soft drinks, instant noodles, dairy products, and condiments [35]. Summary by Category Beer - The beer spot cost index is at 116.32, down 0.06% from last week, while the futures index is at 115.68, up 1.2% [13]. - Year-to-date, the spot index has decreased by 0.86%, and the futures index has decreased by 7.13% [14]. Condiments - The condiments spot cost index is at 100.51, down 0.1%, and the futures index is at 101.3, up 1.55% [17]. - Year-to-date, the spot index has decreased by 2.66%, and the futures index has decreased by 7.47% [17]. Dairy Products - The dairy products spot cost index is at 101.25, down 0.13%, and the futures index is at 91.04, up 0.69% [20]. - Year-to-date, the spot index has decreased by 2.89%, and the futures index has decreased by 3.28% [20]. Instant Noodles - The instant noodles spot cost index is at 103.62, down 0.23%, and the futures index is at 102.53, up 0.88% [23]. - Year-to-date, the spot index has decreased by 2.29%, and the futures index has decreased by 5.47% [24]. Frozen Food - The frozen food spot cost index is at 120.39, up 1.02%, and the futures index is at 119.44, up 1.72% [28]. - Year-to-date, the spot index has decreased by 0.17%, and the futures index has decreased by 1.35% [28]. Soft Drinks - The soft drinks spot cost index is at 109.39, up 0.22%, and the futures index is at 109.26, up 0.72% [31]. - Year-to-date, the spot index has decreased by 3.04%, and the futures index has decreased by 9.54% [31].

Core Insights - Hubei's business environment is highly praised by industry leaders, indicating a favorable climate for investment and operations [1][3] Company Focus - China Feihe Dairy has strategically positioned Hubei as a key market for its operations over the years [3] - In January, China Feihe Dairy launched a logistics benchmark warehouse in collaboration with JD Logistics in Wuhan, enhancing its logistics capabilities in the region [3] - The company has established a comprehensive storage warehouse in Hubei, which serves logistics transportation for several surrounding provinces, demonstrating its commitment to the region [3]

Group 1 - The company China Feihe (06186.HK) announced a share buyback on October 28, 2025, spending HKD 21.63 million to repurchase 5.174 million shares at a price range of HKD 4.11 to 4.20 per share [1] - Following the buyback announcement, the stock price of China Feihe increased by 1.5%, indicating positive market sentiment [1] - The dairy product sector is experiencing a rebound, with related stocks such as You Ran Mu Ye rising by 4% [1]

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) FF305 確認 不適用 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10月28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 ...