Group 1 - The company China Hongqiao (01378) announced a share buyback plan, intending to repurchase 178,000 shares at a cost of HKD 4.805 million [1]

智通财经APP讯，中国宏桥(01378)发布公告，于2025年10月9日斥资480.5万港元回购17.8万股。 ...

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 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) | 01378 | 說明 | | | | | | | 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) | ...

Core Viewpoint - China Hongqiao (1378.HK) has seen a significant stock price increase, reaching a historical high of 28.02 HKD, with a year-to-date gain of 160.89% and a market capitalization of approximately 266.9 billion HKD [1] Company Summary - China Hongqiao has been actively repurchasing its shares, spending 2.3371 million HKD to buy back 88,500 shares on October 8, with repurchase prices ranging from 26.12 to 26.58 HKD per share [1] - Jefferies has indicated that, in addition to the 2.6 billion HKD already repurchased in the first half of 2025, China Hongqiao plans to conduct at least 3 billion HKD in stock buybacks, with an annual dividend yield exceeding 60%, reflecting management's confidence in the company's performance [1] - Recent buyback activities show that the cumulative number of shares repurchased in the latest round is 15.4 million, accounting for 1.64% of the total share capital [6][8] Industry Summary - The Ministry of Industry and Information Technology and seven other departments have issued the "Nonferrous Metals Industry Stabilization and Growth Work Plan (2025-2026)", aiming for an average annual growth of around 5% in the value added of the nonferrous metals industry and a 1.5% annual increase in the production of ten major nonferrous metals from 2025 to 2026 [1] - The plan highlights the rapid development of China's nonferrous metals industry while addressing issues such as insufficient resource security, aiming to enhance the level of the industrial and supply chain [1] - CITIC Securities suggests that concerns over U.S. government shutdowns, potential interest rate cuts, and recession expectations are driving global investor worries about U.S. dollar credit and sovereign debt, which in turn is boosting prices of precious metals like gold and silver, as well as Bitcoin, indicating investment opportunities in the nonferrous metals sector [1]

Core Viewpoint - China Hongqiao (01378) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1 - The company will repurchase 88,500 shares at a total cost of HKD 2.337 million [1] - The buyback is scheduled for October 8, 2025, reflecting a strategic move to enhance shareholder value [1]

中国宏桥(01378)发布公告，于2025年10月8日斥资233.7万港元回购8.85万股。 ...

表格類別： 股票 狀態： 新提交 公司名稱： 中國宏橋集團有限公司 呈交日期： 2025年10月9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) | 01378 | 說明 | | | | | | | 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) | 庫存股份數目 | 每股發行/出售價 ( ...

Group 1: Strategy Overview - The report highlights that the first anniversary of the bull market has resulted in absolute returns for dividend assets, but the perceived gains are weak, with relative returns lagging behind the market [17][18][19] - From October 24, 2024, to September 25, 2025, the banking sector contributed +5 percentage points to absolute returns, while coal was a significant drag on performance [17][18][23] - The report indicates that the current AH premium index is at the 2nd percentile over the past 15 years, suggesting potential for upward correction in A-share dividend assets [18][19] Group 2: Financial Sector Insights - The banking sector is expected to stabilize its interest margins this year, with insurance funds actively increasing stock allocations [17][18] - Recommendations include focusing on banks with high dividend yields and solid asset quality, particularly smaller regional banks like Chengdu Bank and Jiangsu Bank [17][18] - The report suggests that the economic structural transformation will provide greater elasticity in the fundamentals and valuations of banks, with a focus on banks like China Merchants Bank and Ningbo Bank [17][18] Group 3: Transportation and Utilities - The report identifies several high-yield stocks in the transportation sector, emphasizing the investment value of dividend assets [17][18] - Key recommendations include Sichuan Chengyu and Anhui Expressway, which are noted for their growth potential [17][18] - In the port sector, China Merchants Port is highlighted for its overseas asset layout and increasing dividend payout ratio [17][18] Group 4: Energy and Chemicals - The petrochemical industry is expected to see accelerated transformation and growth, with a focus on energy security and long-term cash flow stability [17][18] - Recommendations include major players like China Petroleum and China National Offshore Oil Corporation [17][18] - The report suggests that coal prices may strengthen due to recent policy measures, with a focus on companies like China Shenhua Energy and Shaanxi Coal and Chemical Industry [17][18] Group 5: Food and Beverage Sector - The report notes that leading companies in the food and beverage sector are showing resilience, with a focus on improving bottom-line signals [17][18] - Recommendations include high-dividend stocks like Moutai and Wuliangye, which are expected to maintain strong cash flows [17][18] - The report also highlights the stability of traditional leaders like Yili and Shuanghui, emphasizing their shareholder return strategies [17][18] Group 6: Home Appliances - The home appliance sector is characterized by quality and cyclical dividends, with a focus on leading companies [17][18] - Recommendations include Midea Group and Haier Smart Home, which are expected to benefit from policy support and improving domestic sales [17][18] - The report also suggests monitoring small appliance leaders like Supor, which are positioned to capitalize on changing consumer demands [17][18] Group 7: Real Estate - The report indicates a recovery in new home transactions from a low base, with a focus on core segments [17][18] - Recommended stocks include Greentown China and Swire Properties, which are noted for their stable cash flows and dividend commitments [17][18] - The report emphasizes the importance of monitoring rental income and occupancy rates in the commercial real estate sector [17][18] Group 8: Metals - The report highlights the recovery of profitability in the metals sector, particularly in aluminum, which is seen as a resilient dividend asset [17][18] - Recommendations include China Hongqiao and Tianshan Aluminum, which are expected to maintain or increase dividend payouts [17][18] - The report also notes the potential for high-dividend stocks in the sector, such as Zhongfu Industrial [17][18] Group 9: Publishing - The education publishing sector is characterized by stability and high dividend yields, with a focus on companies like Southern Publishing [17][18] - The report suggests that companies are actively exploring new business directions, such as AI education, which may provide upside potential [17][18] - Recommendations include Zhongyuan Publishing and Changjiang Publishing, which are noted for their solid fundamentals and dividend policies [17][18] Group 10: Selected Dividend Asset Portfolio - The report presents a curated list of stable dividend assets, including Sichuan Chengyu in transportation and Wuliangye in food and beverage [12][17] - Quality dividend assets highlighted include Midea Group and Southern Publishing, while cyclical dividend assets include Shaanxi Coal and China Hongqiao [12][17] - Potential dividend assets include China Merchants Port in the transportation sector, indicating a diversified approach to dividend investing [12][17]

Summary of Key Points Core Viewpoint - Multiple companies conducted share buybacks on October 6, 2025, with Tencent Holdings leading in both the number of shares repurchased and the total amount spent [1]. Group 1: Buyback Details - Tencent Holdings (00700) repurchased 815,000 shares for a total of 550 million [2]. - Hang Seng Bank (00011) repurchased 200,000 shares for 23.98 million [2]. - Mengniu Dairy (02319) repurchased 1 million shares for 14.41 million [2]. - Antonoil Oilfield Services (03337) repurchased 8.4 million shares for 9.99 million [2]. - Cloud Factory (N23027) repurchased 1.896 million shares for 9.17 million [2]. Group 2: Cumulative Buyback Data - Tencent Holdings has a cumulative buyback of 68.257 million shares, representing 0.743% of its total share capital [2]. - Hang Seng Bank has a cumulative buyback of 9.13 million shares, representing 0.485% of its total share capital [2]. - Mengniu Dairy has a cumulative buyback of 15.516 million shares, representing 0.397% of its total share capital [2]. - Antonoil Oilfield Services has a cumulative buyback of 10.5 million shares, representing 0.350% of its total share capital [2]. - Cloud Factory has a cumulative buyback of 10.24 million shares, representing 2.226% of its total share capital [2].

中国宏桥(01378)发布公告，该公司于2025年10月6日斥资796.87万港元回购30万股股份，每股回购价格 为26.46-26.58港元。 ...