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China Feihe Limited
(6186)
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Rating:63Neutral
Price Target:
HK$2.50
▼(-14.97% Downside)
Action:Reiterated
Date:08/28/26
The score is driven primarily by a resilient, low-leverage balance sheet, offset by deteriorating 2025 fundamentals (revenue decline, margin compression, and sharply weaker free cash flow/FCF conversion). Valuation is a clear positive (P/E ~12.9 and ~8.5% dividend yield), but technicals remain a headwind with the stock trading below major moving averages.
Positive Factors
Conservative Balance Sheet
Very low leverage and substantial equity backing provide financial resilience through operating volatility. This conservative capital structure can preserve funding flexibility for product development, marketing, and other business needs while limiting debt-related pressure on future earnings.
Negative Factors
Revenue and Margin Contraction
The combination of a sharp revenue decline and materially lower net margin signals weakened operating momentum and reduced earnings resilience. If this persists, Feihe may have less capacity to fund brand investment and could face a slower recovery in profitability over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage and substantial equity backing provide financial resilience through operating volatility. This conservative capital structure can preserve funding flexibility for product development, marketing, and other business needs while limiting debt-related pressure on future earnings.
Read all positive factors
China Feihe Limited (6186) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$22.87B
Dividend Yield8.21%
Average Volume (3M)19.90M
Price to Earnings (P/E)11.3
Beta (1Y)0.63
Revenue Growth-4.22%
EPS Growth-30.99%
CountryHK
Employees9,480
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)0.20
Shares Outstanding9,067,252,000
10 Day Avg. Volume32,217,704
30 Day Avg. Volume19,896,200
Financial Highlights & Ratios
PEG Ratio-0.38
Price to Book (P/B)1.35
Price to Sales (P/S)1.82
P/FCF Ratio51.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$3.52Price Target Upside19.84% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.22
Revenue Forecast (FY)HK$18.42B
China Feihe Limited Business Overview & Revenue Model
Company Description
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 ...
How the Company Makes Money
China Feihe makes money primarily by manufacturing and selling branded dairy nutritional products, with infant formula typically being the core revenue driver. The company generates revenue by (1) selling packaged infant formula and other milk pow...
China Feihe Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
88
Very Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 18.32B | 18.11B | 20.75B | 19.53B | 21.31B | 22.78B |
| Gross Profit | 11.94B | 11.78B | 13.76B | 12.66B | 13.95B | 16.01B |
| EBITDA | 3.31B | 3.30B | 6.24B | 5.51B | 6.25B | 8.41B |
| Net Income | 1.78B | 1.94B | 3.57B | 3.39B | 4.94B | 6.87B |
Balance Sheet | ||||||
| Total Assets | 34.56B | 34.05B | 35.73B | 36.19B | 35.52B | 31.48B |
| Cash, Cash Equivalents and Short-Term Investments | 15.39B | 16.30B | 19.00B | 19.15B | 19.11B | 17.18B |
| Total Debt | 541.21M | 855.59M | 1.08B | 1.64B | 1.50B | 1.11B |
| Total Liabilities | 8.52B | 7.92B | 8.32B | 9.86B | 10.04B | 9.08B |
| Stockholders Equity | 24.28B | 24.44B | 25.93B | 24.94B | 23.99B | 20.92B |
Cash Flow | ||||||
| Free Cash Flow | 1.24B | 643.12M | 2.68B | 2.61B | 3.80B | 4.80B |
| Operating Cash Flow | 2.10B | 2.21B | 4.18B | 4.15B | 6.28B | 6.81B |
| Investing Cash Flow | 175.98M | 9.56M | -1.32B | 386.70M | -4.80B | -2.44B |
| Financing Cash Flow | -1.87B | -3.47B | -3.03B | -2.71B | -1.98B | -4.25B |
China Feihe Limited Technical Analysis
Negative
2.94
Price Trends
3.01
Negative
3.02
Negative
3.33
Negative
Market Momentum
-0.13
Positive
23.12
Positive
2.30
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6186, the sentiment is Negative. The current price of 2.94 is above the 20-day moving average (MA) of 2.90, below the 50-day MA of 3.01, and below the 200-day MA of 3.33, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 23.12 is Positive, neither overbought nor oversold. The STOCH value of 2.30 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6186.
China Feihe Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$6.43B | 24.62 | 9.30% | 2.73% | -3.39% | 20.09% | |
63 Neutral | HK$22.87B | 11.26 | 7.29% | 8.21% | -4.22% | -30.99% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | HK$33.44B | 5.83 | 25.72% | 3.81% | 5.80% | -9.69% | |
60 Neutral | HK$11.05B | 12.83 | 11.77% | 5.67% | 24.27% | ― | |
57 Neutral | HK$69.92B | 32.66 | 4.53% | 3.25% | 3.48% | ― | |
52 Neutral | HK$2.05B | -2.87 | -11.03% | 4.35% | -8.08% | -376.61% |
* Consumer Defensive Sector Average
HK:6186
China Feihe Limited
2.58
-1.35
-34.39%
HK:0151
Want Want China Holdings
2.84
-2.77
-49.39%
HK:1112
Health and Happiness (H&H) International Holdings
17.28
3.37
24.23%
HK:2319
China Mengniu Dairy Co
18.36
3.73
25.53%
HK:0345
Vitasoy International Holdings
6.40
-2.30
-26.46%
HK:1717
Ausnutria Dairy Corp. Ltd.
1.15
-1.30
-53.08%
China Feihe Limited Corporate Events
China Feihe backs non-executive director after HKEX censure linked to former role
Sep 9, 2026
China Feihe has disclosed that non-executive director Gao Yu was publicly censured by the Hong Kong Stock Exchange in connection with his former role as chairman and non-executive director of Home Control International. The bourse’s Listing ...
China Feihe’s First-Half Profit Falls Despite Modest Revenue Growth
Aug 26, 2026
China Feihe Limited reported interim results for the six months ended 30 June 2026, posting revenue of RMB9.36 billion, up 2.3% year on year, and gross profit of RMB5.80 billion, a 2.9% increase. Despite higher sales and gross margins, profit for ...
China Feihe Declares Interim Dividend for First Half of 2026
Aug 26, 2026
China Feihe Limited has declared an interim ordinary cash dividend of HKD 0.0828 per share for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The dividend will be paid in Hong Kong dollars on 22 September 2026, ...
China Feihe deploys RMB200 million idle funds into SPD Bank wealth products
Aug 21, 2026
China Feihe Limited has again tapped the mainland financial markets to manage surplus cash, with its wholly owned unit Feihe HLJ subscribing on 21 August 2026 to two non‑principal‑guaranteed Shangxin Xinyue Fengli assembled fund trust ...
China Feihe Sets August Board Meeting to Approve Interim Results and Dividend
Aug 14, 2026
China Feihe Limited has scheduled a board meeting for 26 August 2026 to review and approve the group’s interim results for the six months ended 30 June 2026. The directors will also consider the declaration of an interim dividend, if any, an...
China Feihe Commits RMB 1.4 Billion to CMB Wealth Products in Discloseable Deal
Aug 3, 2026
China Feihe Limited has subscribed to a series of wealth management and structured deposit financial products from China Merchants Bank and its branches during 2025 and 2026, with a total principal of RMB 1.4 billion allocated to fixed-income-focu...
China Feihe buys Heilongjiang industrial land in related-party deal
Jul 28, 2026
China Feihe’s wholly owned unit Feihe HLJ has agreed to buy the land use rights for two industrial land parcels and associated factory buildings in Kedong County, Qiqihar City, Heilongjiang, for RMB28.4 million in cash, funded from internal ...
China Feihe Deploys RMB200 Million in CITIC Wealth Product to Boost Treasury Returns
Jul 15, 2026
China Feihe has stepped up its use of treasury management tools, with wholly owned subsidiary Feihe HLJ subscribing on 15 July 2026 to a CITIC Bank wealth management product worth RMB200 million. The non‑principal‑guaranteed product, i...
China Feihe Deploys RMB200 Million Into SPD Bank Wealth Product
Jul 13, 2026
China Feihe’s Heilongjiang subsidiary has subscribed to a new wealth management product, Shangxin Ruby T+N Phase 132, from Shanghai Pudong Development Bank using RMB200 million of idle funds. The non-principal-guaranteed fixed-income product...
China Feihe Deploys RMB300 Million Into SPD Bank Wealth Products
Jul 8, 2026
China Feihe has subscribed to new wealth management products offered by SPD Bank through its wholly owned subsidiary Feihe HLJ, deploying RMB300 million of idle funds into non-principal guaranteed fixed-income trust schemes maturing in April 2027....
China Feihe boosts CITIC wealth product holdings with new RMB200m subscription
Jun 12, 2026
China Feihe’s wholly owned subsidiary Feihe HLJ has subscribed to a CITIC Bank wealth management product known as Xinyin Wealth Management Allwin Xiangzhiying Fixed Income Enhanced Profit Closed-ended Wealth Management Product No. 30, invest...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.