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China Feihe Limited logo

China Feihe Limited

6186.HK

HKSEConsumer DefensivePackaged Foods

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Latest quote

HK$3.185

−HK$0.035 · -1.09%

Aug 24, 11:59 AM HKT

6186.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

China Feihe Limited operates as an investment holding entity primarily engaged in the production and sale of infant formula, serving consumers across Mainland China and the United States. Its comprehensive product portfolio extends to include raw and liquid milk, adult milk powders, various healthcare products, and specialized powders like soybean and goat milk. Furthermore, the company retails vitamins, minerals, herbal supplements, and other nutritional items. Products reach consumers through a multi-channel approach, utilizing third-party distributors, prominent e-commerce platforms such as Tmall, JD.com, and Suning.com, alongside its official website and mobile applications, including WeChat. By December 31, 2021, its extensive distribution network involved approximately 2,000 offline customers, managing 110,000 retail points of sale. China Feihe Limited was established in 1962 and is headquartered in Beijing, People's Republic of China.

Industry
Packaged Foods
Sector
Consumer Defensive
Headquarters
CN
CEO
Youbin Leng
Listed since
Nov 13, 2019
Employees
9,480

Market position

Day range

Current HK$3.185

52-week range

Current HK$3.185

Open
HK$3.22
Previous close
HK$3.22
Volume
4.04M
0.19× average
Average volume
21.8M
Average daily volume
Market cap
28.05B HKD
Beta
0.53
Market reference 1
50-day average
HK$3.1277
+1.83% above average
200-day average
HK$3.6186
-11.98% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
26.87B CNY
P/E (TTM)
13×
P/B (TTM)
1.05×
P/S (TTM)
1.33×
EV / EBITDA
8.14×
Earnings yield
5.76%
Free cash flow yield
1.91%
Dividend yield
7.85%

Profitability & efficiency

Gross margin
65.01%
Operating margin
13.25%
Net margin
10.71%
Return on equity
7.93%
Return on assets
5.70%
Return on invested capital
5.37%

Financial health

Debt / equity
0.04×
Current ratio
3×
Altman Z-score
4.95
Piotroski F-score
7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends76%52%29%5%Gross margin, FY2021: 70.28%Gross margin, FY2022: 65.46%Gross margin, FY2023: 64.83%Gross margin, FY2024: 66.34%Gross margin, FY2025: 65.01%Operating margin, FY2021: 33.56%Operating margin, FY2022: 25.23%Operating margin, FY2023: 26.45%Operating margin, FY2024: 26.83%Operating margin, FY2025: 13.25%Net margin, FY2021: 30.17%Net margin, FY2022: 23.19%Net margin, FY2023: 17.36%Net margin, FY2024: 17.21%Net margin, FY2025: 10.71%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 70.28%. Gross margin FY2022 65.46%. Gross margin FY2023 64.83%. Gross margin FY2024 66.34%. Gross margin FY2025 65.01%. Operating margin FY2021 33.56%. Operating margin FY2022 25.23%. Operating margin FY2023 26.45%. Operating margin FY2024 26.83%. Operating margin FY2025 13.25%. Net margin FY2021 30.17%. Net margin FY2022 23.19%. Net margin FY2023 17.36%. Net margin FY2024 17.21%. Net margin FY2025 10.71%.

Income trends

Revenue

18.11B CNY-12.70%

Operating income

2.4B CNY-56.87%

Net income

1.94B CNY-45.68%
Income trends across reported periods24.86B CNY16.53B CNY8.19B CNY−144.22M CNYRevenue, FY2021: 22.78B CNYRevenue, FY2022: 21.31B CNYRevenue, FY2023: 19.53B CNYRevenue, FY2024: 20.75B CNYRevenue, FY2025: 18.11B CNYOperating income, FY2021: 7.64B CNYOperating income, FY2022: 5.38B CNYOperating income, FY2023: 5.17B CNYOperating income, FY2024: 5.57B CNYOperating income, FY2025: 2.4B CNYNet income, FY2021: 6.87B CNYNet income, FY2022: 4.94B CNYNet income, FY2023: 3.39B CNYNet income, FY2024: 3.57B CNYNet income, FY2025: 1.94B CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 22.78B CNY. Revenue FY2022 21.31B CNY. Revenue FY2023 19.53B CNY. Revenue FY2024 20.75B CNY. Revenue FY2025 18.11B CNY. Operating income FY2021 7.64B CNY. Operating income FY2022 5.38B CNY. Operating income FY2023 5.17B CNY. Operating income FY2024 5.57B CNY. Operating income FY2025 2.4B CNY. Net income FY2021 6.87B CNY. Net income FY2022 4.94B CNY. Net income FY2023 3.39B CNY. Net income FY2024 3.57B CNY. Net income FY2025 1.94B CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue18.11B CNY20.75B CNY19.53B CNY21.31B CNY22.78B CNY
Cost of goods sold6.34B CNY6.98B CNY6.87B CNY7.36B CNY6.77B CNY
Gross profit11.78B CNY13.76B CNY12.66B CNY13.95B CNY16.01B CNY
Research and development530.11M CNY——493.39M CNY425.76M CNY
Selling, general, and administrative8.84B CNY8.86B CNY8.47B CNY8.08B CNY7.94B CNY
Operating expenses9.37B CNY8.2B CNY7.5B CNY8.57B CNY8.36B CNY
Interest income466.86M CNY468.37M CNY470.03M CNY349.43M CNY355.65M CNY
Interest expense31.77M CNY44.65M CNY53.13M CNY33.64M CNY29.15M CNY
Depreciation and amortization474.24M CNY648.5M CNY607.93M CNY494.44M CNY443.35M CNY
Operating income2.4B CNY5.57B CNY5.17B CNY5.38B CNY7.64B CNY
Net income1.94B CNY3.57B CNY3.39B CNY4.94B CNY6.87B CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
27%
3 beats, 8 misses, 0 met estimates
Average EPS surprise
-8.30%
11 comparable reports
Latest EPS result
0.13
Estimate 0.17 · Miss by 20.01%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.380.290.20.1Q4 '22BeatQ2 '23MissQ4 '23MissQ2 '24MissQ4 '24MissQ2 '25MissQ1 '26MissQ3 '26Estimate
Q4 2022, reported Dec 31, 2022: actual 0.341, estimate 0.34, surprise +0.29%, Beat. Q2 2023, reported Jun 30, 2023: actual 0.202, estimate 0.292, surprise -30.71%, Miss. Q4 2023, reported Dec 31, 2023: actual 0.206, estimate 0.253, surprise -18.46%, Miss. Q2 2024, reported Jun 30, 2024: actual 0.223, estimate 0.236, surprise -5.88%, Miss. Q4 2024, reported Dec 31, 2024: actual 0.199, estimate 0.277, surprise -28.08%, Miss. Q2 2025, reported Jun 30, 2025: actual 0.121, estimate 0.208, surprise -41.98%, Miss. Q1 2026, reported Mar 26, 2026: actual 0.134, estimate 0.167, surprise -20.01%, Miss. Q3 2026, reported Aug 26, 2026: actual —, estimate 0.162, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates13.78B12.25B10.71B9.17BQ4 '22BeatQ2 '23MissQ4 '23MissQ2 '24BeatQ4 '24BeatQ2 '25MissQ1 '26MissQ3 '26Estimate
Q4 2022, reported Dec 31, 2022: actual 13.25B HKD, estimate 13.2B HKD, surprise +0.38%, Beat. Q2 2023, reported Jun 30, 2023: actual 10.53B HKD, estimate 10.85B HKD, surprise -2.98%, Miss. Q4 2023, reported Dec 31, 2023: actual 10.84B HKD, estimate 11.04B HKD, surprise -1.74%, Miss. Q2 2024, reported Jun 30, 2024: actual 10.84B HKD, estimate 9.91B HKD, surprise +9.42%, Beat. Q4 2024, reported Dec 31, 2024: actual 11.33B HKD, estimate 11.28B HKD, surprise +0.47%, Beat. Q2 2025, reported Jun 30, 2025: actual 10.01B HKD, estimate 10.05B HKD, surprise -0.34%, Miss. Q1 2026, reported Mar 26, 2026: actual 9.97B HKD, estimate 10.78B HKD, surprise -7.50%, Miss. Q3 2026, reported Aug 26, 2026: actual —, estimate 9.7B HKD, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.2841

2025 complete year-37.7% since 2021

2026 partial: HK$0.129

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Jun 9, 2026

HK$0.129

Semi-Annual

Record Jun 10, 2026 · Payment Jun 24, 2026

Dividend

Ex-dividend Sep 10, 2025

HK$0.1209

Semi-Annual

Record Sep 11, 2025 · Payment Sep 24, 2025

Dividend

Ex-dividend Jun 2, 2025

HK$0.1632

Semi-Annual

Record Jun 3, 2025 · Payment Jun 16, 2025

Dividend

Ex-dividend Sep 10, 2024

HK$0.1632

Semi-Annual

Record Sep 11, 2024 · Payment Sep 30, 2024

Dividend

Ex-dividend May 24, 2024

HK$0.1484

Semi-Annual

Record May 27, 2024 · Payment Jun 5, 2024

Dividend

Ex-dividend Sep 11, 2023

HK$0.1349

Semi-Annual

Record Sep 12, 2023 · Payment Sep 22, 2023

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ETFs holding 6186.HK

Funds reporting this stock among their holdings, ordered by reported position size.

Global X Hang Seng High Dividend Yield ETF (HKD) logoGlobal X Hang Seng High Dividend Yield ETF (HKD)3110.HK
Market value
150.24M
Weight
2.55%
AUM
5.93B HKD
Expense ratio
0.68%
Price / 1D
HK$31.78-0.50%
Vanguard Total International Stock ETF logoVanguard Total International Stock ETFVXUS
Market value
20.48M
Weight
0.00%
AUM
646.2B USD
Expense ratio
0.05%
Price / 1D
$87.71+0.78%
Vanguard FTSE Emerging Markets ETF logoVanguard FTSE Emerging Markets ETFVWO
Market value
19.9M
Weight
0.01%
AUM
162.3B USD
Expense ratio
0.06%
Price / 1D
$60.45+0.72%
iShares Core MSCI Emerging Markets ETF logoiShares Core MSCI Emerging Markets ETFIEMG
Market value
16.64M
Weight
0.01%
AUM
160B USD
Expense ratio
0.09%
Price / 1D
$81.57+0.64%
Avantis Emerging Markets Equity ETF logoAvantis Emerging Markets Equity ETFAVEM
Market value
11.24M
Weight
0.04%
AUM
27.89B USD
Expense ratio
0.33%
Price / 1D
$94.24+0.75%
iShares MSCI Emerging Markets ETF logoiShares MSCI Emerging Markets ETFEEM
Market value
3.7M
Weight
0.01%
AUM
31.22B USD
Expense ratio
0.72%
Price / 1D
$67.12+0.75%
iShares MSCI China ETF logoiShares MSCI China ETFMCHI
Market value
3.49M
Weight
0.06%
AUM
6.29B USD
Expense ratio
0.59%
Price / 1D
$55.66+0.27%
Vanguard FTSE All-World ex-US ETF logoVanguard FTSE All-World ex-US ETFVEU
Market value
3.25M
Weight
0.00%
AUM
95.9B USD
Expense ratio
0.04%
Price / 1D
$85.69+0.82%

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