Core Viewpoint - China Feihe's H1 2025 performance report highlights strong revenue growth and profitability, showcasing a robust financial structure and strategic resilience in a complex market environment [1] Financial Performance - In H1 2025, Feihe achieved revenue of 9.15 billion RMB and a net profit of 1.03 billion RMB, with cash and cash equivalents totaling 6.48 billion RMB, indicating strong cash flow and a healthy financial structure [1] Market Position and Innovation - Feihe maintained its leading position in the infant formula market with the highest market share and sales, driven by a focus on technological innovation [2] - The company invested in basic scientific research and established a global collaborative innovation network with over 20 top research institutions [2] - Feihe launched a groundbreaking "milk protein fresh extraction technology," enhancing the quality and domestic production capacity of protein raw materials [2] Product Development - Feihe released China's first comprehensive database of human milk oligosaccharides (HMOs), providing a scientific basis for developing infant formula closer to Chinese breast milk [3] - The company received awards for its smart manufacturing practices, achieving international standards in digital and intelligent manufacturing management [4] Global Expansion - Feihe's overseas revenue reached approximately 110 million RMB in H1 2025, with significant progress in North America and Southeast Asia [7] - The Kingston factory in Canada received the first local infant formula production license, marking a quality benchmark for "Made in China" products [7] - In Southeast Asia, Feihe launched AceKid pure fresh milk formula in the Philippines, with plans to expand to Vietnam and Indonesia [9] Social Responsibility and Community Engagement - Feihe initiated a 1.2 billion RMB maternity subsidy plan to support families during pregnancy, expected to benefit over 800,000 newborn families [11] - The company created 170,000 jobs and increased the income of 160,000 farmers through its "common prosperity chain" initiative [11] Shareholder Returns - Feihe announced a share buyback plan of at least 1 billion RMB and a stable dividend policy, projecting a mid-year dividend of approximately 1 billion RMB for 2025 [13] - The company aims to strengthen shareholder returns while continuing to focus on core business and innovation [13]
飞鹤2025年半年报：营收91.5亿元筑牢基本盘，科技创新与全球化双轮驱动长期价值增长