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汇丰:维持飞鹤(06186)“持有”评级 看好人口政策提振利润
Zhi Tong Cai Jing·2025-08-29 12:31

Core Viewpoint - HSBC Research projects that China Feihe (06186) will maintain a compound annual growth rate (CAGR) of 2.4% in revenue and 5.5% in earnings before interest and taxes (EBIT) from 2025 to 2028, driven by favorable government population policies [1][1][1] Financial Performance - For the interim period of 2025, China Feihe reported revenue of 9.15 billion yuan and a net profit of 1.03 billion yuan, with cash and cash equivalents amounting to 6.48 billion yuan, indicating a solid operational foundation [1][1][1] Shareholder Returns - Based on robust performance and strong cash flow, China Feihe plans to utilize no less than 1 billion yuan for share repurchases and anticipates distributing approximately 1 billion yuan in dividends for the interim period of 2025, with a total dividend distribution of no less than 2 billion yuan for the year 2025, enhancing earnings per share through active buybacks [1][1][1]