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9月5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 | | | | | | ...

Group 1 - The core point of the news is that Mengniu Dairy has been actively repurchasing its shares, with a total of 332.80 million shares repurchased since August 28, amounting to HKD 50.23 million [2][3] - On September 4, the company repurchased 600,000 shares at a price range of HKD 14.890 to HKD 15.030, totaling HKD 8.98 million [2] - The stock price increased by 0.74% on the same day, closing at HKD 14.990, despite a cumulative decline of 7.47% during the repurchase period [2] Group 2 - Year-to-date, Mengniu Dairy has conducted 70 repurchase transactions, acquiring a total of 17.53 million shares for a total amount of HKD 295 million [3] - The repurchase details indicate varying prices, with the highest repurchase price recorded at HKD 18.840 and the lowest at HKD 14.890 during the recent transactions [3][4] - The company has shown a consistent strategy in share buybacks, which may reflect its confidence in long-term growth despite short-term stock price fluctuations [2][3]

Investment Rating - The report maintains a "Strong Buy" rating for the company [1][4]. Core Insights - The company experienced a year-on-year decline in revenue and net profit of 6.95% and 16.37% respectively in the first half of 2025, which aligns with market expectations. Despite challenges in the external environment, the company has shown improvement in core operating profit margins and cash flow [1][4]. - The company has adjusted its earnings per share (EPS) estimates for 2025 and 2026 to 1.04 and 1.17 respectively, with a corresponding valuation of 13 times for 2025 [1][4]. Financial Performance Summary - Revenue for H1 2025 was 415.67 billion, down 6.95% year-on-year, while net profit was 20.46 billion, down 16.37% year-on-year. The decline was primarily due to an oversupply of raw milk and slower-than-expected demand recovery [3][4]. - The liquid milk segment saw a revenue decline of 11.22% to 321.92 billion, while other segments like ice cream and cheese reported growth of 15.04% and 12.28% respectively [3][4]. - The overall gross margin improved to 41.7%, up 1.4 percentage points year-on-year, benefiting from lower raw milk prices [3][4]. - The operating profit margin improved to 8.5%, an increase of 1.5 percentage points year-on-year, reflecting effective operational management [3][4]. Future Outlook - The company plans to launch over 100 new products to meet diverse consumer needs and is focusing on brand innovation to enhance market presence [3][4]. - The company has proactively adjusted prices for its ambient milk products to capture market share amid uncertain demand conditions [3][4].

智通财经APP讯，蒙牛乳业(02319)发布公告，该公司于2025年9月4日斥资898万港元回购60万股股份， 每股回购价格为14.89-15.03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： 中國蒙牛乳業有限公司 呈交日期： 2025年9月4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 ...

Summary of Key Points Core Viewpoint - Mengniu Dairy has been actively repurchasing its shares, indicating a strategy to support its stock price amid recent declines [1][2]. Share Buyback Details - On September 3, 2025, Mengniu Dairy repurchased 700,000 shares at a price range of HKD 14.870 to HKD 14.950, totaling HKD 10.43 million [1]. - The stock closed at HKD 14.880 on the same day, reflecting a decrease of 0.47%, with a total trading volume of HKD 371 million [1]. - Since August 28, 2025, the company has conducted buybacks for five consecutive days, acquiring a total of 2.728 million shares for a cumulative amount of HKD 41.25 million, during which the stock price fell by 8.15% [1]. Year-to-Date Buyback Activity - Year-to-date, Mengniu Dairy has executed 69 buyback transactions, acquiring a total of 16.93 million shares for a total expenditure of HKD 286 million [2].

北京商报讯（记者 孔文燮）9月3日，蒙牛乳业在港交所发布公告称，当日在香港斥资约1043.4万港元回 购70万股，每股回购价在14.87至14.95港元。 ...

Core Viewpoint - Mengniu Dairy (02319) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1 - The company plans to repurchase 700,000 shares at a total cost of HKD 10.4339 million [1] - The buyback price per share ranges from HKD 14.87 to HKD 14.95 [1]

格隆汇9月3日丨蒙牛乳业(02319.HK)发布公告，2025年9月3日耗资1043.39万港元回购70万股，回购价 格每股14.87-14.95港元。 ...

智通财经APP讯，蒙牛乳业(02319)发布公告，该公司于2025年9月3日斥资1043.39万港元回购70万股股 份，每股回购价格为14.87-14.95港元。 ...