We present an analysis of the young stellar moving group ASCC 127 using Gaia DR3 data, significantly expanding its membership to 3971 stars-double the number identified in previous studies. Using kinematic and distance criteria, ASCC 127 is divided into five subgroups (Groups 1-5) with ages spanning from 15 to 32 Myr. Groups 1-5 are spatially linked to the Cepheus Flare star-forming region, revealing potential evidence of four sequential star formation episodes at approximately 32Myr, 20Myr, 15Myr, and 7Myr. Through dust and gas mapping, we identify a spatial cavity extending several tens of parsecs, which may have resulted from feedback processes such as supernovae associated with earlier generations of stars in the region. This structure, along with the larger Loop III feature, indicates that feedback from massive stars likely influenced the interstellar medium (ISM). By integrating young stellar populations with ISM studies, we provide a detailed picture of the feedback- driven star-formation history in the Cepheus Flare region.