Core Viewpoint - On September 2, 35 Hong Kong-listed companies conducted share buybacks, totaling 71.32 million shares and an amount of HKD 1.645 billion [1][2]. Group 1: Buyback Details - China Hongqiao repurchased 36.65 million shares for HKD 942 million, with a highest price of HKD 25.92 and a lowest price of HKD 24.70, accumulating HKD 5.244 billion in buybacks for the year [1][2]. - Tencent Holdings repurchased 913,000 shares for HKD 55 million, with a highest price of HKD 608.00 and a lowest price of HKD 599.50, accumulating HKD 46.65 billion in buybacks for the year [1][2]. - Hang Seng Bank repurchased 210,000 shares for HKD 23.66 million, with a highest price of HKD 113.30 and a lowest price of HKD 111.30, accumulating HKD 526.4 million in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on September 2 was from China Hongqiao at HKD 942 million, followed by Tencent Holdings at HKD 55 million [1][2]. - In terms of buyback volume, China Hongqiao led with 36.65 million shares, followed by Sihuan Pharmaceutical and Linklogis Technology with 13.10 million shares and 367,000 shares, respectively [1][2].

Group 1 - The article reports on share buybacks conducted by various companies on September 2, 2025, with a total of 30 companies participating in the buyback program [1] - China Hongqiao (01378) had the largest buyback amount, repurchasing 36.65 million shares for a total of 942 million [2] - Tencent Holdings (00700) repurchased 913,000 shares for 550 million, while Hang Seng Bank (00011) bought back 210,000 shares for 23.66 million [2] Group 2 - The cumulative buyback quantity for China Hongqiao (01378) for the year reached 14.1 million shares, representing 1.5% of its total share capital [2] - Other notable buybacks include Vitasoy International (00345) with 718,000 shares for 6.57 million and MGM China (02282) with 1 million shares for 15.90 million [2] - The buyback activity reflects a trend among companies to return capital to shareholders, with varying percentages of total share capital being repurchased across different firms [2][3]

Summary of Key Points Core Viewpoint - The company, Sihuan Pharmaceutical, has been actively repurchasing its shares, indicating a strategy to enhance shareholder value and confidence in its stock performance [2]. Repurchase Details - On September 2, 2025, Sihuan Pharmaceutical repurchased 13.096 million shares at a price range of HKD 1.480 to HKD 1.510, totaling HKD 19.572 million [2]. - The stock closed at HKD 1.500 on the same day, reflecting a decline of 1.32%, with a total trading volume of HKD 135 million [2]. - Year-to-date, the company has conducted 12 share repurchase transactions, acquiring a total of 130 million shares for a cumulative amount of HKD 104 million [2]. Repurchase Breakdown - The following table summarizes the repurchase activities: | Date | Shares Repurchased (10,000 shares) | Highest Price (HKD) | Lowest Price (HKD) | Total Amount (10,000 HKD) | |------------|-------------------------------------|---------------------|--------------------|---------------------------| | 2025.09.02 | 1309.60 | 1.510 | 1.480 | 1957.20 | | 2025.06.17 | 2000.00 | 1.100 | 1.080 | 2182.00 | | 2025.05.12 | 1000.00 | 0.700 | 0.680 | 688.80 | | 2025.05.06 | 2000.00 | 0.740 | 0.730 | 1468.40 | | 2025.05.02 | 268.20 | 0.710 | 0.710 | 190.42 | | 2025.04.30 | 68.50 | 0.710 | 0.710 | 48.64 | | 2025.04.29 | 187.40 | 0.690 | 0.690 | 129.31 | | 2025.04.28 | 1617.40 | 0.680 | 0.660 | 1088.67 | | 2025.04.16 | 1000.00 | 0.640 | 0.620 | 627.40 | | 2025.04.09 | 1000.00 | 0.600 | 0.580 | 586.60 | | 2025.04.07 | 1500.00 | 0.600 | 0.550 | 875.40 | | 2025.02.11 | 1000.00 | 0.580 | 0.570 | 572.30 | [2]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 20% against the market benchmark within the next six months [19]. Core Insights - The company has shown a significant turnaround in its financial performance, achieving a net profit of 0.66 billion yuan in the first half of 2025, compared to a loss in the previous year [3][7]. - The revenue for the first half of 2025 reached 1.15 billion yuan, reflecting a year-on-year growth of 20.7%, driven by the high-margin medical aesthetics business [3]. - The company has a strong cash position with total cash and equivalents amounting to 3.89 billion yuan, ensuring robust cash flow and payment capabilities [3]. Summary by Sections Medical Aesthetics - The medical aesthetics segment generated 0.59 billion yuan in revenue for the first half of 2025, marking an impressive year-on-year growth of 81.3%, with segment profit increasing by 215.3% to 0.31 billion yuan [4]. - The company has expanded its partnerships, adding 44 key cooperative groups and penetrating over 1,000 high-end medical aesthetics institutions [4]. Generic Drugs - The generic drug business experienced a revenue decline of 15.8% to 0.50 billion yuan in the first half of 2025 due to national procurement policies, but operating profit increased by 1.2% to 0.17 billion yuan [5]. Innovative Drugs - The innovative drug segment saw a revenue increase of 96.6% to 0.058 billion yuan in the first half of 2025, with significant growth in sales of diabetes medications and the launch of new oncology drugs [6]. - The company has a pipeline of over 10 innovative drug products under development, with two already approved for market [6]. Financial Forecast and Valuation - The company is projected to achieve revenues of 2.43 billion yuan, 3.71 billion yuan, and 5.08 billion yuan for 2025, 2026, and 2027 respectively, with growth rates of 28%, 53%, and 37% [7]. - The forecasted net profit for 2025 is 0.18 billion yuan, with significant increases expected in subsequent years [7].

Sihuan Pharmaceutical Holdings Group Ltd. 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 全部或任何部份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。 關於四環醫藥 四 環 醫 藥 創 立 於 二 零 零 一 年，二 零 一 零 年 於 聯 交 所 主 板 上 市，是 一 家 以 創 新 為 引 領，擁 有 獨 立 領 先 的 自 主 研 發 技 術 平 台、具 備 豐 富 的 全 球 化 產 品 管 線、強 大 的 產 品 註 冊 能 力、高 效 率 及 低 成 本 的 全 劑 型 生 產 平 台 和 成 熟 卓 越 銷 售 體 系 的 國 際 化 製 藥 及 醫 美 企 業。四 環 醫 藥 一 直 秉 承「堅 持 全 速 推 進 四 環 醫 美 及 生 物 製 藥 雙 輪 驅 動 戰 略」的 整 體 戰 略 目 標 來 打 造 中 國 領 先 醫 美 及 生 物 製 藥 企 業。 – 2 – 四環醫藥控股集團有 ...

四环医药(00460)发布公告，于2025年9月2日该公司斥资1957.2万港元回购1309.6万股，回购价格为每股 1.48-1.51港元。 ...

格隆汇9月2日丨四环医药(00460.HK)公告，9月2日耗资1957.19万港元回购1309.6万股，每股回购价1.48- 1.51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) 第 1 頁 共 6 頁 v 1.3.0 FF305 確認 不適用 表格類別： 股票 狀態： 新提交 公司名稱： 四環醫藥控股集團有限公司 呈交日期： 2025年9月2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) | 00460 | 說明 | 面值港幣 0.01 元普通股 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份 ...

截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 四環醫藥控股集團有限公司 呈交日期: 2025年9月1日 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00460 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.01 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | HKD | | 0.01 | HKD | | 1,000,000, ...

Core Viewpoint - Four Seasons Pharmaceutical (0460.HK) has seen a significant stock price increase, rising 7.53% to HKD 1.57, nearing its 3.5-year high of HKD 1.58, with a market capitalization exceeding HKD 14 billion. The stock has appreciated approximately 138% year-to-date, nearly doubling from its low of HKD 0.53 on April 7, 2023 [1] Group 1 - The company announced a framework agreement with Deep Origin Pharmaceutical Biotechnology (Beijing) Co., Ltd. to promote the application of artificial intelligence (AI) in the research and development of medical beauty products [1] - A joint AI R&D company will be established, led by Four Seasons Pharmaceutical, to explore AI-driven new medical beauty product development, marking a significant step in the company's strategic layout in the "AI + Medical Beauty" innovation sector [1] - The collaboration focuses on deep integration of "resources + technology" to create a "dry-wet closed-loop" R&D platform, enhancing the value of the company's medical beauty business through two main aspects: overcoming raw material bottlenecks and reducing costs while increasing efficiency [1] Group 2 - The AI R&D company will serve as the core of the company's ongoing efforts to deepen AI applications in medical beauty R&D, addressing unmet market needs and injecting momentum into the long-term development of the medical beauty business [1] - The initiative aims to enhance the company's core competitiveness and market value within the medical beauty industry through technological innovation and platform synergy [1]