智通财经APP讯，方正控股(00418)发布公告，于2025年9月29日斥资14.65万港元回购20.2万股股份。 ...

方正控股(00418)发布公告，于2025年9月29日斥资14.65万港元回购20.2万股股份。 ...

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 公司名稱： 方正控股有限公司 呈交日期： 2025年9月29日 FF305 | 13). | 股份購回 – 於2025年9月9日購回，但尚未註銷之股 | 50,000 | 0.0042 % | HKD | 0.82 | | --- | --- | --- | --- | --- | --- | | | 變動日期 2025年9月9日 | | | | | | 14). | 股份購回 – 於2025年9月10日購回，但尚未註銷之股 | 50,000 | 0.0042 % | HKD | 0.81 | | | 變動日期 2025年9月10日 | | | | | | 15). | 股份購回 – 於2025年9月12日購回，但尚未註銷之股 | 200,000 | 0.0167 % | HKD | 0.79 | | | 變動日期 2025年9月12日 | | | | | | 16). | 股份購回 – 於2025年9月18日購回，但尚未註銷之股 | 114,000 | 0.0095 ...

Core Viewpoint - Ford China is restructuring its sales channels by establishing a wholly-owned subsidiary, Ford Automotive Sales Service (Shanghai) Co., Ltd., to manage marketing, sales, and service for Ford's passenger cars and pickups in China, effective October 1 [2][4]. Group 1: Company Restructuring - The new subsidiary will consolidate the sales services of Ford's two joint ventures in China: Jiangling Ford and Changan Ford, aiming to enhance operational efficiency and profitability amid increasing market competition [3][6]. - Chen Xiaobo has been appointed as the president of the new sales service company, reporting to Ford China's president and CEO, Wu Shengbo [5][6]. - Jiangling Motors has signed a distribution service contract with the new company, indicating that it will still participate in the sales of Ford vehicles, sharing sales responsibilities with the new entity [7]. Group 2: Market Challenges - Ford is facing significant pressure in the Chinese market, with declining sales and the need for transformation, as evidenced by a 16.43% year-on-year drop in Changan Ford's sales in the first five months of the year [4][12]. - Jiangling Ford's projected sales from 2022 to 2024 are not expected to exceed 50,000 units, with losses exceeding 1.6 billion yuan during the same period [13]. - The competitive landscape in the Chinese automotive market is intensifying, prompting Ford to consolidate resources to improve efficiency and maintain competitiveness [10][14]. Group 3: Historical Context - This is not Ford's first attempt at channel integration in China; previous efforts, such as the establishment of the National Dealer Service Development (NDSD) in 2018, were unsuccessful due to limitations in resource allocation [9]. - The automotive industry expert Mei Songlin noted that the current market conditions necessitate channel consolidation to enhance operational efficiency, especially as foreign and joint venture brands face declining sales [10].

(股份代號: 00418) 持續關連交易 ( i )方正印捷租賃協議之補充協議； ( i i)方正印捷管理協議之變更協議；及 ( i i i)年度上限之修訂 方 正 印 捷 租 賃 協 議 及 方 正 印 捷 管 理 協 議 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內 容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 補 充 租賃協議 及 變 更 管理協議 於二零二五年九月二十六日，方正印捷與新方正博雅訂立了補充租賃協議，根 –1– 據該協議 ，其中包括，雙方同意終止該物業某些區域之租賃，並調整剩餘的季 度租金和年度租金總額。 鑒於該物業某些區域的租賃之終止，方正印捷與上海德麟於二零二五年九月二 十六日訂立了變 更 管 理 協 議 ，根據該協議 ，雙方同意調整服務範圍和剩餘之月 度管理費。 上市規則之涵義 茲提述本公司日期為二零二四年十二月三十日之公告，有關(其中包括) (i)方正 印捷與新方正博雅於二零二四年十二月三十日訂立之方正印捷租賃協議，以於 二零二五年一月一日至二零二五年十二月三十一日期 ...

Core Points - Ford China has established a wholly-owned subsidiary, Ford Sales and Service (Shanghai) Co., Ltd., to manage marketing, sales, and service for Ford brand passenger cars and pickups in China, starting operations on October 1 [2] - The appointment of Chen Xiaobo as president of the new subsidiary indicates a strategic shift in Ford's operations in China, consolidating sales channels [2][3] - The signing of a distribution service contract between Jiangling Motors and Ford Sales and Service Company allows the latter to distribute vehicles produced by Jiangling [3] Summary by Sections Company Structure and Management - Chen Xiaobo has joined Ford China as the president of Ford Sales and Service Company, reporting to Wu Shengbo, the CEO of Ford China and the International Markets Group [2] - The establishment of Ford Sales and Service Company signifies the consolidation of Ford's sales channels in China, which had previously been fragmented between two joint ventures [3] Financial Performance and Challenges - Jiangling Ford Technology Company has been operating at a loss since its inception, with reported revenues of 1.24 million, 6.43 million, and 53.23 million from 2022 to 2024, and net losses of 1.06 million, 8.39 million, and 6.77 million respectively [4] - Cumulatively, Jiangling Ford has incurred losses of approximately 1.62 billion over three years, with total assets of about 875 million and negative net assets of 1.42 billion as of mid-2023 [4] Strategic Adjustments - The formation of Ford Sales and Service Company aligns with Ford's global strategy to reduce investments in China and focus on high-return businesses, as stated by CEO Jim Farley [5] - The integration of sales channels is seen as a necessary step for Ford to streamline operations and improve profitability in the Chinese market [5][6] Future Outlook - The new sales service company will unify the sales of various Ford models, including those from Jiangling and Changan Ford, and will oversee the rebranding of over 380 4S stores [5][6] - The transition to a unified sales model aims to enhance brand identity and operational efficiency, although challenges remain in balancing the different product attributes of Changan Ford and Jiangling Ford [6]

Core Viewpoint - The integration of Jiangling Ford is seen as a response to challenges rather than a strategic expansion, with Ford taking control of distribution rights and restructuring its operations in China [2][3][5]. Group 1: Company Actions - Jiangling Ford has transferred the distribution rights of Ford brand passenger cars and pickups to a wholly-owned sales service company established by Ford in Shanghai [2]. - Both Jiangling and Ford have jointly invested 2.478 billion yuan to address debt issues, with Jiangling contributing 1.26378 billion yuan through debt-to-equity conversion and Ford providing 1.21422 billion yuan in cash [2]. - The annual distribution service fee is expected to be around 250 million to 300 million yuan, indicating a significant shift in profit allocation towards Ford [2]. Group 2: Market Context - Ford's previous attempts to unify its distribution channels in China have faced challenges, including strong resistance from Jiangling dealers, leading to failed initiatives [3]. - The sales volume of Ford in China has drastically declined from nearly 1 million units in 2016 to less than 200,000 units in 2019, highlighting a deeper crisis in the market [3]. - Despite achieving profitability in 2024 due to export growth, the domestic market remains stagnant, with Ford lagging in electric vehicle competitiveness and facing issues with hybrid product distribution [3][4]. Group 3: Strategic Implications - The channel unification is perceived as a contraction of Ford's strategy in China, transitioning to a light asset operation model while maintaining brand presence through a sales service company [3][4]. - The lack of new products and a clear technological roadmap raises concerns about the sustainability of this light asset approach, which may be viewed as a retreat rather than a proactive strategy [4][5].

Group 1 - The article reports on share buybacks conducted by various companies on September 19, 2025, with Tencent Holdings (00700) having the largest buyback amount of 551 million yuan for 857,000 shares [1][2] - Other notable companies involved in buybacks include Shankou Holdings (00412) with 3.7 million shares repurchased for 22.62 million yuan, and Tianli International Holdings (01773) with 3.41 million shares for 10.62 million yuan [2] - The total number of shares repurchased by Tencent Holdings in the year reached 59.863 million, accounting for 0.651% of its total share capital [2] Group 2 - Haier Smart Home (06690) repurchased 300,000 shares for 8.08 million yuan, representing 0.011% of its total share capital [2] - Other companies like Coolpad Group (02369) and Weigao Group (01066) also participated, with Coolpad repurchasing 1.092 million shares for 1.42 million yuan, and Weigao repurchasing 440,000 shares for 2.56 million yuan, accounting for 3.365% of its total share capital [2] - The buyback activities reflect a trend among companies to utilize excess cash for share repurchases, potentially signaling confidence in their future performance [1][2]

方正控股(00418)发布公告，该公司于2025年9月19日斥资15.6万港元回购20万股股份，每股回购价格为 0.78港元。 ...

智通财经APP讯，方正控股(00418)发布公告，该公司于2025年9月19日斥资15.6万港元回购20万股股 份，每股回购价格为0.78港元。 ...