Group 1 - The company plans to repurchase shares through centralized bidding, with a total amount between 20 million and 40 million yuan, and a maximum repurchase price of 10.00 yuan per share, which is 24.53% higher than the current price of 8.03 yuan [1] - The repurchase is seen as a price stabilization measure, allowing the company to buy back its issued shares, which can be canceled or used for employee stock ownership plans or equity incentive plans [1] - The company is based in Xi'an, Shaanxi Province, and was established on May 16, 2002, with its shares listed on August 12, 2010. Its main business involves the research, production, and sales of asphalt heating, storage, transportation equipment, and related machinery [1] Group 2 - As of September 30, the number of shareholders of the company is 14,100, a decrease of 14.45% from the previous period, while the average circulating shares per person increased by 16.89% to 22,555 shares [2] - For the period from January to September 2025, the company achieved operating revenue of 128 million yuan, a year-on-year increase of 4.29%, while the net profit attributable to the parent company was -25.4954 million yuan, a year-on-year increase of 7.72% [2] Group 3 - The company has distributed a total of 113 million yuan in dividends since its A-share listing, with no dividends distributed in the last three years [3]

Group 1 - The company, Luxshare Precision, announced a share buyback plan with a total amount between 1 billion and 2 billion yuan, with a maximum buyback price of 86.96 yuan per share, which is 53.34% higher than the current price of 56.71 yuan [1] - Luxshare Precision's main business involves the research, production, and sales of connectors, primarily applied in the 3C (computer, communication, consumer electronics), automotive, and communication equipment sectors [1] - The company's revenue composition includes 78.55% from consumer electronics, 8.91% from communication interconnect products and precision components, 6.95% from automotive interconnect products and precision components, 3.93% from computer interconnect products and precision components, and 1.65% from other connectors and businesses [1] Group 2 - As of December 19, Luxshare Precision reported a total revenue of 220.915 billion yuan for the period from January to September 2025, representing a year-on-year growth of 24.69%, with a net profit attributable to shareholders of 11.518 billion yuan, up 26.92% year-on-year [2] - The company has distributed a total of 7.652 billion yuan in dividends since its A-share listing, with 4.530 billion yuan distributed over the past three years [3] - As of September 30, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 428 million shares, an increase of 84.421 million shares compared to the previous period [3]

Group 1 - The company announced a change in the purpose of repurchased shares from "employee stock ownership plan or equity incentives" to "cancellation to reduce registered capital" [1][3] - The total number of shares to be canceled is 18.4988 million, which will reduce the company's total share capital and registered capital by the same amount [1][3] - After the cancellation, the total share capital will decrease from 393 million shares to 375 million shares, and the registered capital will decrease by 18.4988 million yuan [3][4] Group 2 - The share repurchase plan began in November 2024, with a total repurchase fund range of 80 million to 150 million yuan, and a maximum repurchase price of 10.00 yuan per share [2] - The company completed the repurchase of 18.4988 million shares, accounting for 4.7042% of the total share capital at that time [2] - The change in the purpose of repurchased shares aims to enhance long-term investment value and increase earnings per share, thereby boosting investor confidence [3][5] Group 3 - The cancellation of shares will not significantly impact the company's operations, financial status, debt repayment ability, or future development [5] - The company will proceed with the necessary procedures for share cancellation and amend its articles of association and business registration accordingly [5] - Market analysis suggests that share cancellation is generally viewed as a positive signal for boosting stock prices and protecting shareholder interests [5]

Core Viewpoint - Miao Exhibition, a leading company in self-organized exhibitions abroad, is seeking to list on the Hong Kong Stock Exchange to create a dual capital platform, facing significant operational challenges and cash flow pressures amid its transformation [1] Financial Performance - The financial data of Miao Exhibition shows significant volatility, with revenue increasing from 348 million to 835 million CNY between 2022 and 2024, then declining to 751 million CNY. Net profit rose from 50 million to 188 million CNY, then fell to 155 million CNY. In the first three quarters of 2025, revenue decreased by 5.67% to 401 million CNY, and net profit halved by 49.17% to 35 million CNY [2] - The company's revenue is heavily reliant on self-organized exhibitions abroad, which account for over 90% of its income, primarily from emerging markets like Indonesia, UAE, and Vietnam. External shocks, such as heavy rains in Indonesia and changes in US trade policies, have exacerbated its performance vulnerability [2] Business Structure Risks - Miao Exhibition's business model is characterized by a high dependency on overseas markets, with over 99% of its revenue coming from domestic sources but primarily serving international clients. The exhibition hosting services contribute over 90% of its revenue, making it highly tied to the demand from Chinese foreign trade enterprises [3] - The company has invested 64.918 million CNY in R&D (2.78% of revenue) to drive digital transformation, launching the "AI Smart Exhibition" platform. However, revenue from digital exhibitions accounted for only 2.14% in 2024, indicating a slow scaling of technological empowerment [3] Governance and Financial Challenges - Miao Exhibition has distributed a total of 344 million CNY in dividends since its listing, which is 92.35% of its net profit, reflecting a "pay out all profits" approach. The 302 million CNY raised during its A-share IPO was exhausted by the end of 2024, leaving only 1.2295 million CNY for working capital [4] - The company's reliance on high dividends and the need for refinancing have raised market concerns about its long-term investment capacity. As of September 2025, the company had no bank loans, with cash reserves of 559 million CNY and financial products worth 64 million CNY, but its debt ratio increased by 5.74% year-on-year, and the current ratio decreased by 8.58%, indicating weakened short-term solvency [4] Conclusion - Miao Exhibition's journey to the Hong Kong market reflects the transition of traditional exhibition companies from scale expansion to quality survival. While it has established a competitive edge through its overseas exhibition network, its business singularity, centralized governance, and cash flow pressures highlight the need to shift from "capital dependence" to "internal growth" [5]

Group 1 - The stock of Dianhun Network closed at 18.51 yuan on December 31, with a slight decline of 0.05% [1] - Two block trades occurred, totaling 797,000 shares and a transaction amount of 13.43 million yuan [1] - The first trade was executed at a price of 16.85 yuan for 297,000 shares, with a transaction amount of 5.00 million yuan and a premium rate of -8.97% [1] - The second trade also occurred at 16.85 yuan for 500,000 shares, with a transaction amount of 8.43 million yuan and the same premium rate of -8.97% [1] Group 2 - Over the past three months, the stock has seen a total of three block trades with a cumulative transaction amount of 15.71 million yuan [1] - In the last five trading days, the stock has increased by 0.49%, with a net inflow of 925,500 yuan from main funds [1]

12月31日，键凯科技收涨0.02%，收盘价为82.20元，发生6笔大宗交易，合计成交量27万股，成交金额 2011.5万元。 第1笔成交价格为74.50元，成交4.20万股，成交金额312.90万元，溢价率为-9.37%，买方营业部为广发 证券股份有限公司总部，卖方营业部为平安证券股份有限公司泉州滨海街证券营业部。 第2笔成交价格为74.50元，成交2.70万股，成交金额201.15万元，溢价率为-9.37%，买方营业部为机构 专用，卖方营业部为平安证券股份有限公司泉州滨海街证券营业部。 第3笔成交价格为74.50元，成交8.40万股，成交金额625.80万元，溢价率为-9.37%，买方营业部为瑞银 证券有限责任公司上海花园石桥路证券营业部，卖方营业部为平安证券股份有限公司泉州滨海街证券营 业部。 第5笔成交价格为74.50元，成交2.70万股，成交金额201.15万元，溢价率为-9.37%，买方营业部为中国 银河证券股份有限公司晋城黄华街证券营业部，卖方营业部为平安证券股份有限公司泉州滨海街证券营 业部。 第6笔成交价格为74.50元，成交6.00万股，成交金额447.00万元，溢价率为-9.37%，买方 ...

12月31日，博睿数据收涨4.76%，收盘价为62.68元，发生4笔大宗交易，合计成交量24.43万股，成交金 额1315.56万元。 第4笔成交价格为53.85元，成交6.00万股，成交金额323.10万元，溢价率为-14.09%，买方营业部为广发 证券股份有限公司总部，卖方营业部为兴业证券股份有限公司上海金陵东路证券营业部。 进一步统计，近3个月内该股累计发生5笔大宗交易，合计成交金额为5525.48万元。该股近5个交易日累 计上涨2.02%，主力资金合计净流出2410.36万元。 责任编辑：小浪快报 第1笔成交价格为53.85元，成交10.43万股，成交金额561.66万元，溢价率为-14.09%，买方营业部为中 信证券股份有限公司天津分公司，卖方营业部为兴业证券股份有限公司上海金陵东路证券营业部。 第2笔成交价格为53.85元，成交4.00万股，成交金额215.40万元，溢价率为-14.09%，买方营业部为中信 建投证券股份有限公司北京望京证券营业部，卖方营业部为兴业证券股份有限公司上海金陵东路证券营 业部。 第3笔成交价格为53.85元，成交4.00万股，成交金额215.40万元，溢价率为-14.0 ...

责任编辑：小浪快报 第1笔成交价格为20.00元，成交34.90万股，成交金额698.00万元，溢价率为-13.94%，买方营业部为华 泰证券股份有限公司深圳科苑南路华润大厦证券营业部，卖方营业部为国投证券股份有限公司青岛分公 司。 12月31日，聚石化学（维权）收涨0.96%，收盘价为23.24元，发生1笔大宗交易，合计成交量34.9万 股，成交金额698万元。 进一步统计，近3个月内该股累计发生1笔大宗交易，合计成交金额为698万元。该股近5个交易日累计上 涨6.51%，主力资金合计净流出754.73万元。 ...

12月31日，中国联通收涨0.39%，收盘价为5.11元，发生1笔大宗交易，合计成交量200万股，成交金额 934万元。 第1笔成交价格为4.67元，成交200.00万股，成交金额934.00万元，溢价率为-8.61%，买方营业部为长江 证券股份有限公司武汉分公司，卖方营业部为华泰证券股份有限公司武汉江汉路证券营业部。 责任编辑：小浪快报 进一步统计，近3个月内该股累计发生3笔大宗交易，合计成交金额为2046.25万元。该股近5个交易日累 计下跌0.39%，主力资金合计净流出1.57亿元。 ...

进一步统计，近3个月内该股累计发生1笔大宗交易，合计成交金额为202.1万元。该股近5个交易日累计 上涨15.60%，主力资金合计净流入7.93亿元。 责任编辑：小浪快报 12月31日，烽火通信收涨10.01%，收盘价为32.08元，发生1笔大宗交易，合计成交量6.3万股，成交金 额202.1万元。 第1笔成交价格为32.08元，成交6.30万股，成交金额202.10万元，溢价率为0.00%，买方营业部为中信证 券股份有限公司上海浦东新区东方路证券营业部，卖方营业部为华安证券股份有限公司广东分公司。 ...