According to the annual report recently announced by China Feihe (6186.HK), revenue for 2023 was 19.532 billion yuan, and net profit to mother was 3.39 billion yuan. The company plans to pay a final dividend of HK$0.1484 per share, combined with an interim dividend of HK$0.1349 per share, with a dividend ratio of approximately 7.70%.

Guoyuan Securities released a research report commenting on China's Feihe 2023 report, saying that China's Feihe has leading R&D capabilities and the product structure continues to be upgraded. As a leading enterprise in China's infant formula industry, in 2023, Feihe pioneered the launch of the first domestic HMO milk powder, Xingfeifan Zhuorui Stage 4, to restore the active nutrition of breast milk in China to a greater extent and promote the continuous high-quality development of the domestic milk powder industry. As the company continues to promote structural upgrades for high-end products represented by Starfly and Zhuorui, the company's performance is expected to continue to grow and maintain a “buy” rating.