Core Viewpoint - 首佳科技 is a leading enterprise in the steel cord industry in China, with strong shareholder backing and the unique capability to upgrade its steel cord products to robotic tendons [1][4] Group 1: Company Overview - 首佳科技 was established in 1991 and is headquartered in Hong Kong, being one of the first steel cord manufacturers listed on the Hong Kong Stock Exchange in 1992 [1] - The company has established long-term stable partnerships with leading tire manufacturers, and plans to expand its steel cord production capacity to over 300,000 tons [1] Group 2: New Business Development - The company is focusing on developing robotic tendons by leveraging its existing steel cord production technology and investing in specialized production equipment [2] - A collaboration has been established with 星尘智能 for joint research and development in tendon technology, supported by the extensive investment in the robotics sector from its parent company, 首钢集团 [2] Group 3: Financial Forecast - Revenue projections for 首佳科技 from 2025 to 2027 are estimated at HKD 2.42 billion, 2.58 billion, and 2.79 billion, reflecting year-on-year growth of 0.9%, 6.8%, and 8.0% respectively [3] - The net profit attributable to shareholders is expected to reach HKD 56.86 million, 70.86 million, and 87.41 million, with significant growth rates of 79.7%, 24.6%, and 23.4% (excluding acquisitions) [3] Group 4: Investment Recommendation - The company is compared with A-share listed 大业股份, with 首佳科技 having a lower projected PE ratio of 32.1 compared to 45.3 for 大业股份 [4] - A DCF valuation estimates 首佳科技's market value at HKD 2.61 billion, corresponding to a share price of HKD 4.9, indicating a potential upside of 43% from the current price [4]

Core Viewpoint - Multiple companies conducted share buybacks on November 14, 2025, with China Feihe (06186) leading in both the number of shares repurchased and the total amount spent [1][2]. Group 1: Buyback Details - China Feihe (06186) repurchased 10.70 million shares for a total of 46.13 million yuan, representing 1.412% of its total share capital [2]. - COSCO Shipping Holdings (01919) repurchased 3.00 million shares for 42.58 million yuan, accounting for 0.979% of its total share capital [2]. - Sinopec Limited (00386) repurchased 6.74 million shares for 29.82 million yuan, which is 0.120% of its total share capital [2]. - AAC Technologies (02018) repurchased 300,000 shares for 11.97 million yuan, representing 0.212% of its total share capital [2]. - Yimeng Sunshine (N23020) repurchased 604,000 shares for 9.97 million yuan, accounting for 1.732% of its total share capital [2]. Group 2: Other Notable Buybacks - Kweichow Moutai (09987) repurchased 17,400 shares for 6.27 million yuan, which is 3.190% of its total share capital [2]. - Antong Oilfield Services (03337) repurchased 6.01 million shares for 5.99 million yuan, representing 1.660% of its total share capital [2]. - MGM China (02282) repurchased 338,700 shares for 5.45 million yuan, accounting for 0.763% of its total share capital [2]. - China Feihe (06186) has a cumulative buyback of 12.8 million shares for the year, which is 1.412% of its total share capital [2].

智通财经APP讯，首佳科技(00103)发布公告，于2025年11月14日，该公司斥资16.25万港元回购4.68万 股。 ...

首佳科技(00103)发布公告，于2025年11月14日，该公司斥资16.25万港元回购4.68万股。 ...

格隆汇11月14日丨首佳科技(00103.HK)发布公告，2025年11月14日耗资16.25万港元回购4.68万股，回购 价格每股3.43-3.75港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 呈交日期： 2025年11月14日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00103 | 說明 | 股份 | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 ...

Summary of Key Points Core Viewpoint - A total of 30 companies conducted share buybacks on November 13, 2025, with China Feihe (06186) leading in both the number of shares repurchased and the total amount spent on buybacks, amounting to 20 million shares and 87.858 million yuan respectively [1][2]. Group 1: Buyback Details - China Feihe (06186) repurchased 20 million shares for 87.858 million yuan, with a year-to-date total of 117 million shares, representing 1.294% of its total share capital [2]. - COSCO Shipping Holdings (01919) repurchased 3 million shares for 42.9502 million yuan, with a year-to-date total of 25.188 million shares, accounting for 0.875% of its total share capital [2]. - China International Marine Containers (02039) repurchased 2.8054 million shares for 20.01 million yuan, with a year-to-date total of 3.66303 million shares, representing 1.190% of its total share capital [2]. Group 2: Other Notable Buybacks - Sinopec Limited (00386) repurchased 3.468 million shares for 15.3039 million yuan, with a year-to-date total of 139 million shares, accounting for 0.110% of its total share capital [2]. - Yip's Chemical Holdings (06826) repurchased 39,500 shares for 1.1077 million yuan, with a year-to-date total of 580,100 shares, representing 1.482% of its total share capital [3]. - Kangji Medical Holdings (01681) repurchased 20 million shares for 300,000 yuan, with a year-to-date total of 9.898 million shares, accounting for 11.627% of its total share capital [3].

格隆汇11月13日丨首佳科技(00103.HK)发布公告，2025年11月13日耗资15.02万港元回购4.2万股，回购 价格每股3.53-3.62港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 公司名稱： 首佳科技製造有限公司 呈交日期： 2025年11月13日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00103 | 說明 | 股份 | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | 庫存股份變動 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3 ...

Summary of Key Points Core Viewpoint - A total of 30 companies conducted share buybacks on November 12, 2025, with China COSCO Shipping Holdings (01919) leading in terms of buyback amount and quantity. Group 1: Buyback Details - China COSCO Shipping Holdings (01919) repurchased 3 million shares for a total of 43.1382 million yuan, representing 0.770% of its total share capital [1][2] - Sinopec Limited (00386) repurchased 3.708 million shares for 16.5210 million yuan, accounting for 0.110% of its total share capital [2] - China International Marine Containers (02039) repurchased 2 million shares for 14.1189 million yuan, which is 1.090% of its total share capital [2] Group 2: Other Notable Buybacks - China Feihe Limited (06186) repurchased 2 million shares for 8.8511 million yuan, representing 1.074% of its total share capital [2] - AAC Technologies Holdings (02018) repurchased 221,500 shares for 8.8302 million yuan, which is 0.186% of its total share capital [2] - Linklogis Inc. (09959) repurchased 1,208,000 shares for 3.7894 million yuan, accounting for 4.685% of its total share capital [2] Group 3: Additional Companies - Mobi Development (00947) repurchased 50,000 shares for 8.0500 million yuan, which is 0.222% of its total share capital [3] - Tianfu (06868) repurchased 10,000 shares for 30,000 yuan, representing 0.051% of its total share capital [3] - Hylink Digital Solutions (01586) repurchased 80,000 shares for 22,100 yuan, accounting for 4.305% of its total share capital [3]