Group 1 - A total of 173 stocks reached a 52-week high as of September 18, with notable performers including Brilliant Tomorrow (01351), Hong Kong Broadband (01310), and Meijie Holdings (01389) achieving high rates of 85.26%, 70.25%, and 70.21% respectively [1] - The top three stocks by closing price that reached their 52-week high are: Brilliant Tomorrow (0.600), Hong Kong Broadband (8.630), and Meijie Holdings (0.720) [1] - Other significant stocks that reached their 52-week high include Kaisa Capital (00936) at 50.00%, Yihua Tong (02402) at 42.86%, and Zhongyu Energy (03633) at 37.55% [1] Group 2 - The report includes a detailed list of stocks that reached their 52-week highs, with their respective closing prices and the percentage increase from their previous highs [1] - The data indicates a strong market performance, particularly in the technology and telecommunications sectors, as evidenced by the high rates of increase among the leading stocks [1] - The overall trend suggests a bullish sentiment in the market, with many stocks showing significant recovery or growth compared to their previous performance [1]

Group 1 - The fifth China Quality Award has announced its winners, with China Feihe Dairy receiving a nomination for its "dual-chain integration intelligent manufacturing quality management model" [2] - The China Quality Award, organized by the State Administration for Market Regulation, aims to recognize significant innovations in quality management practices and systems, having been held since 2013 [2] - Feihe is the only infant formula company among the nominees, competing with enterprises from aerospace, military, new energy, and heavy industry sectors [2] Group 2 - Since its establishment in 1962, Feihe has maintained a record of zero accidents in safety production for 63 years [2] - Since 2006, Feihe has developed an integrated industrial cluster in the golden milk source belt at 47°N, controlling the entire process from source to end [2] - Feihe's raw milk has a bacterial count index that is 20 times better than EU standards and 400 times better than national standards [2] Group 3 - In research and development, Feihe leads a key national R&D project and has established the largest maternal and infant health cohort in China, along with the first comprehensive HMOs structural database [3] - Feihe has implemented 1,322 quality management systems covering all processes, with 24-hour monitoring and 25 detection procedures involving 411 tests [3] - As one of the first AI-driven dairy companies, Feihe has developed an AI monitoring system that enables millisecond-level online monitoring of the entire milk powder production process, improving overall supply chain efficiency by 40% [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 China Feihe Limited 中國飛鶴有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：6186） 須予披露交易 認購金融產品 認購金融產品 茲 提 述 本 公 司 日 期 為 二 零 二 五 年 一 月 十 五 日、二 零 二 五 年 一 月 二 十 二 日、二 零 二 五 年 二 月 十 一 日、二 零 二 五 年 二 月 十 八 日、二 零 二 五 年 三 月 二 十 四 日、二 零 二 五 年 五 月 八 日、二 零 二 五 年 五 月 十 四 日、二 零 二 五 年 五 月 二 十 日、二 零 二 五 年 八 月 四 日 及 二 零 二 五 年 九 月 十 日 的 公 告，內 容 有 關 本 集 團 認 購 若 干 浦 發 銀 行的理財及結構性存款金融產品（「認購浦發銀行金融產品」）。 董 ...

Group 1 - China Feihe donated to the Special Fund for the Protection and Utilization of the Site of the Japanese Army's Unit 731, demonstrating its commitment to historical heritage protection [1][3] - The donation aims to support the application of the Unit 731 site for World Cultural Heritage status, showcasing the company's role in social responsibility and historical memory preservation [3] - Founded in 1962, China Feihe is one of the earliest milk powder companies in China, originating from Qiqihar, Heilongjiang [3] Group 2 - The donation serves as a high-standard practical example for social participation in historical heritage protection, emphasizing its historical, public, and educational value [3] - The financial support provided by China Feihe strengthens the foundation for the protection of the Unit 731 site [3] - The act reflects China Feihe's commitment as a national enterprise to uphold the memory of the nation and fulfill its social responsibilities [3]

Core Viewpoint - China Feihe Dairy has been awarded the nomination for the 5th China Quality Award, becoming the only infant formula company to receive this honor, which signifies a significant recognition of its quality management practices and a milestone for the Chinese dairy industry [1][2]. Group 1: Award Significance - The China Quality Award is the highest honor in quality management, established by the central government and organized by the State Administration for Market Regulation, aimed at recognizing significant innovations in quality management [2]. - Feihe's nomination alongside major companies in aerospace, new energy, and heavy industry highlights its quality management system's alignment with national standards [2]. Group 2: Quality Management Practices - Feihe has maintained a record of zero accidents in safety production for 63 years, emphasizing its commitment to quality as the lifeline of the company [4]. - The company implements a "dual-chain integration" model of intelligent manufacturing quality management, integrating the entire industry chain with technological innovation [7][10]. Group 3: Research and Development - Feihe leads national research initiatives on breast milk, establishing the largest maternal and infant health cohort in China and developing a comprehensive database for HMOs [8]. - The company has innovatively applied research findings to its products, achieving a DHA:ARA ratio of 1:1.7 and high levels of active N-glycans in its formulations [8][12]. Group 4: Technological Innovations - Feihe has established a rigorous quality assurance system, including a cleanroom standard equivalent to pharmaceutical-grade facilities and innovative detection methods that significantly enhance efficiency [10][11]. - The company has adopted AI technologies for real-time monitoring of the entire production process, improving supply chain efficiency by 40% [11]. Group 5: Market Position and Recognition - Feihe has maintained the top position in the Chinese infant formula market for six consecutive years and has been the global leader in sales for four years [11][12]. - The brand's recognition rate reached 99% in Q2 2025, solidifying its position in consumer awareness [11]. Group 6: Future Outlook - Feihe aims to continue its commitment to quality and technological innovation, enhancing its quality management system to lead the industry towards high-quality development [14].

Core Viewpoint - China Feihe Dairy has been awarded the nomination for the 5th China Quality Award, becoming the only infant formula company to receive this honor, which signifies a significant advancement in the quality management level of China's dairy industry [1][4][6] Group 1: Quality Management Achievements - The China Quality Award is the highest honor in quality management, established by the central government, aimed at recognizing significant innovations in quality management models and methods [4] - Feihe's innovative quality management model has set a benchmark for the dairy industry and is seen as a vital reference for promoting high-quality development in China's manufacturing sector [1][4][6] - Feihe has maintained a record of zero accidents in safety production for 63 years, emphasizing its commitment to quality as the lifeline of the enterprise [5][7] Group 2: Technological Innovations - Feihe has developed a comprehensive industrial cluster that integrates grass planting, feed processing, large-scale breeding, production, and logistics, ensuring quality control from source to end [5][6] - The company has established a rigorous quality assurance system, including a 10,000-level cleanroom standard and innovative detection methods that significantly enhance efficiency and accuracy [7] - Feihe's AI-based production management system allows for real-time monitoring of the entire milk powder production process, improving supply chain efficiency by 40% [7] Group 3: Market Position and Recognition - Feihe has ranked first in the Chinese infant formula market for six consecutive years and has been the global leader in sales for four years [8][10] - The brand has achieved a recognition rate of 99% among consumers, solidifying its position in the market [8] - Feihe has received numerous awards, including the World Food Quality Award and the National Technology Innovation Demonstration Enterprise title, reflecting its commitment to quality and innovation [10][11] Group 4: Future Directions - The company aims to continue its focus on quality and technological innovation, enhancing its quality management system to lead the high-quality development of the dairy industry [13]

Core Viewpoint - China Feihe Dairy has been awarded the nomination for the 5th China Quality Award, becoming the only infant formula company to receive this honor, which signifies a significant advancement in the quality management level of China's dairy industry [1][4][6]. Group 1: Award Significance - The China Quality Award is the highest honor in quality management, established by the central government and organized by the State Administration for Market Regulation, aimed at recognizing significant innovations in quality management [4]. - Feihe's nomination is a testament to its long-standing commitment to high-quality development and serves as a benchmark for the dairy industry [1][4]. Group 2: Quality Management Practices - Feihe has maintained a record of zero accidents in safety production for 63 years, emphasizing its core principle that quality should not be compromised [6][12]. - The company has developed a comprehensive quality management system, including 1,322 quality management regulations covering all processes from farming to production [12]. Group 3: Innovation and Research - Feihe has established an integrated industrial chain model that combines agriculture, animal husbandry, and manufacturing, ensuring quality control from source to end product [7][10]. - The company leads national research on breast milk, creating the largest maternal and infant health database in China, which supports the development of infant formula tailored to Chinese babies [10][15]. Group 4: Market Position and Recognition - Feihe has been the top seller in the Chinese infant formula market for six consecutive years and ranks first globally in sales [13][15]. - The brand has achieved a recognition rate of 99% among consumers, solidifying its position as a market leader [13]. Group 5: Future Directions - Feihe aims to continue its commitment to quality and innovation, enhancing its quality management system to lead the high-quality development of the dairy industry [16].

Group 1 - The article highlights the launch of a fresh whey drink by HeRun, which has garnered significant industry attention and sparked discussions about the potential of whey-based products [1][2]. - Whey is defined as a byproduct of cheese production, previously considered waste but now recognized for its nutritional value, including high-quality protein and lactose [4][5]. - The processing of whey has evolved, allowing it to be transformed into various forms such as whey powder, demineralized whey powder, and whey protein powder, catering to different food industry needs [5][7]. Group 2 - The global whey market was valued at $9.9 billion in 2023 and is projected to reach $17.82 billion by 2032, with a compound annual growth rate (CAGR) of 8.76% [11]. - In China, the whey protein market is expected to grow from $34.6 million in 2021 to $51.8 million by 2025, with an annual growth rate of 11.238%, surpassing the global average [11]. - The primary applications of whey include functional foods, with yogurt, adult milk powder, and milk beverages being the most common products utilizing whey as a key ingredient [11][12]. Group 3 - The article discusses various innovative applications of whey in beverages, snacks, and baking, emphasizing its role as a high-quality protein source that enhances nutritional value and product characteristics [15][18]. - Whey protein is increasingly used in sports nutrition products, including protein powders and energy bars, to meet the demands of different consumer groups [20]. - The competitive landscape of the whey powder market is characterized by leading companies leveraging product quality, brand recognition, pricing strategies, and distribution channels [21]. Group 4 - Major players in the whey market include Yili Group, Mengniu, and FrieslandCampina, which dominate the high-end market in China, collectively holding over 40% market share [21][22]. - Companies like Actus Nutrition and Agropur are recognized as leading manufacturers of whey protein ingredients, supplying a wide range of products for various applications, including infant formula and sports nutrition [22]. - The article also highlights the technological advancements in whey processing, such as membrane filtration and enzymatic hydrolysis, which are helping domestic companies reduce reliance on imports and improve product quality [21][22].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 China Feihe Limited 中國飛鶴有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：6186） 須予披露交易 認購金融產品 認購金融產品 茲 提 述 本 公 司 日 期 為 二 零 二 五 年 一 月 十 五 日、二 零 二 五 年 一 月 二 十 二 日、二 零 二 五 年 二 月 十 一 日、二 零 二 五 年 二 月 十 八 日、二 零 二 五 年 三 月 二 十 四 日、二 零 二 五 年 五 月 八 日、二 零 二 五 年 五 月 十 四 日、二 零 二 五 年 五 月 二 十 日 及 二 零 二 五 年 八 月 四 日 的 公 告，內 容 有 關 本 集 團 認 購 若 干 浦 發 銀 行 的 理 財 及 結 構 性 存 款 金融產品（「認購浦發銀行金融產品」）。 董 事 會 宣 佈， ...

Core Viewpoint - The announcement by the National Health Commission and the State Administration for Market Regulation regarding the implementation of digital labels for pre-packaged foods aims to enhance food safety and consumer information accessibility through the use of technology [1] Group 1: Digital Transformation of Food Labels - The digital label initiative addresses previous issues with traditional food labels, such as small text and cluttered information, by utilizing QR codes and other digital means to provide clearer and more accessible information [2] - Digital labels allow for richer content that was previously limited by physical label space, including detailed ingredient sourcing, production processes, and nutritional information [3] - The application of digital labels simplifies the presentation of key information, focusing on consumer interests while reducing production costs for food companies [4] Group 2: Benefits for Consumers - Digital labels enhance convenience for consumers by ensuring clarity and readability, while prohibiting distracting elements like pop-up ads [5] - The integration of multiple functions into a single QR code streamlines the process of accessing food information, traceability, and payment [5] Group 3: Industry Transformation - Many food companies are currently in a wait-and-see mode regarding the transition to digital labels due to compliance concerns, but the announcement provides clear guidance for reform [6] - The National Health Commission recommends that companies establish comprehensive digital label management systems, including version control and detailed operational logs to ensure traceability [7] - Companies like Mengniu, Pepsi, and Starbucks are already responding positively to the digital label initiative, with over a thousand products across various categories adopting digital labels [8]