Core Viewpoint - Multiple companies conducted share buybacks on August 29, 2025, with Tencent Holdings leading in both the number of shares repurchased and the total amount spent [1][2]. Group 1: Company Buyback Details - Tencent Holdings (00700) repurchased 919,000 shares for a total of 550 million [2]. - Weichai Power (02338) repurchased 16.42 million shares for 250 million [2]. - China Hongqiao (01378) repurchased 8.92 million shares for 227 million [2]. - Hang Seng Bank (00011) repurchased 210,000 shares for 23.52 million [2]. - MGM China (02282) repurchased 1 million shares for 16.06 million [2]. - Other notable buybacks include Zhongxu Future (09890) with 664,200 shares for 10 million and Weigao Group (01066) with 1.26 million shares for 7.45 million [2]. Group 2: Cumulative Buyback Data - Tencent Holdings has a cumulative buyback of 46.66 million shares, representing 0.508% of its total share capital [2]. - Weichai Power's cumulative buyback stands at 39.14 million shares, accounting for 0.449% of its total share capital [2]. - China Hongqiao's cumulative buyback is 88.67 million shares, which is 0.950% of its total share capital [2]. - Other companies like YUM China (09987) and IGG (00799) have cumulative buybacks of 545.32 million shares (1.460%) and 13.60 million shares (1.166%), respectively [2].

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 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: 中國宏橋集團有限公司 呈交日期: 2025年9月1日 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) | 01378 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | USD | | 0.01 | USD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 20,000,000,000 | USD | | 0.01 | USD | | 200,000,000 | 本月底法定/ ...

Investment Rating - The report maintains an "Overweight" rating for the non-ferrous metals industry [2]. Core Views - The report highlights a bullish outlook for precious metals, particularly silver, driven by rising interest rate cut expectations and a weakening dollar, with silver prices reaching new highs [1][34]. - For industrial metals, the report is optimistic about copper prices due to macroeconomic easing and seasonal demand, while aluminum prices are expected to fluctuate in the short term [1][4]. - Energy metals, particularly lithium, are experiencing price declines amid weaker market sentiment, although demand remains stable due to seasonal factors [1][24]. Summary by Sections Precious Metals - Silver prices have surged, with COMEX silver reaching $40.75 per ounce, marking a significant technical breakout [1][34]. - Gold prices are also approaching $3,500 per ounce, with expectations of inflation rising in the U.S. economy [1][34]. Industrial Metals - Copper: The report anticipates a price increase due to macroeconomic easing and seasonal demand, with global refined copper production expected to rise by 3.6% year-on-year [1][4]. - Aluminum: The report notes a slight increase in theoretical operating capacity in China's aluminum industry, but anticipates price fluctuations due to mixed production adjustments [1][4]. Energy Metals - Lithium: Prices have declined, with battery-grade lithium carbonate dropping to 80,000 yuan per ton, while production and inventory levels are also decreasing [1][24]. - Metal Silicon: The report indicates stable supply and demand dynamics, with short-term price fluctuations expected [1][24]. Key Stocks - The report recommends several stocks in the non-ferrous metals sector, including: - Shandong Gold (Buy) with an EPS forecast of 1.75 yuan for 2027 [3]. - Chifeng Jilong Gold Mining (Buy) with an EPS forecast of 2.01 yuan for 2027 [3]. - China Hongqiao Group (Buy) with an EPS forecast of 2.83 yuan for 2027 [3].

| 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.08.29 | 892.35 | 25.440 | 25.440 | 22701.38 | | 2025.08.28 | 1057.45 | 25.160 | 25.160 | 26605.44 | | 2025.08.26 | 203.40 | 24.620 | 24.620 | 5007.71 | | 2025.08.22 | 1302.70 | 24.160 | 24.160 | 31473.23 | | 2025.08.21 | 146.95 | 23.940 | 23.860 | 3516.03 | | 2025.08.20 | 331.80 | 23.700 | 23.280 | 7840.33 | | 2025.08.19 | 398.15 | 23.460 | 23.380 | 9328.65 | | 2025.08.18 | 1015.10 | 23.240 | 22.100 | 23443.53 | | 2 ...

Performance Summary - China Railway Construction (01186.HK) reported a revenue of 489.2 billion yuan, a decrease of 5.2% year-on-year, with a net profit of approximately 10.7 billion yuan, down 10.1% [2] - Industrial and Commercial Bank of China (01398.HK) achieved a revenue of 409.1 billion yuan, an increase of 1.8% year-on-year, while net profit fell by 1.4% to 168.1 billion yuan [2] - Agricultural Bank of China (01288.HK) recorded a revenue of 369.79 billion yuan, up 0.7% year-on-year, and a net profit of 139.51 billion yuan, an increase of 2.66% [2] - China Construction Bank (00939.HK) reported a revenue of 385.91 billion yuan, a 3% increase year-on-year, with net profit around 162.08 billion yuan, down 1.4% [2] - Bank of China (03988.HK) had a revenue of 329.42 billion yuan, up 3.61% year-on-year, while net profit decreased by 0.85% to 117.59 billion yuan [2] - Postal Savings Bank of China (01658.HK) reported a revenue of 179.53 billion yuan, a 1.5% increase year-on-year, with net profit of 49.23 billion yuan, up 0.85% [2] - China Merchants Bank (03968.HK) achieved a revenue of 169.92 billion yuan, down 1.7% year-on-year, while net profit increased by 0.3% to 74.93 billion yuan [2] - Bank of Communications (03328.HK) reported a revenue of 133.50 billion yuan, up 0.7% year-on-year, with net profit of 46.02 billion yuan, an increase of 1.6% [2] - Minsheng Bank (01988.HK) had a revenue of 70.70 billion yuan, up 7.8% year-on-year, while net profit decreased by 4.9% to 21.38 billion yuan [2] - China Everbright Bank (06818.HK) reported a revenue of 65.95 billion yuan, down 5.6% year-on-year, with net profit of 24.62 billion yuan, an increase of 0.55% [2] - BYD Company (01211.HK) achieved a revenue of 371.28 billion yuan, up 23.3% year-on-year, with net profit of 15.51 billion yuan, an increase of 13.8% [2] - China Communications Construction Company (01800.HK) reported a revenue of 335.45 billion yuan, down 5.8% year-on-year, with net profit of 9.99 billion yuan, down 16.9% [2] - Lenovo Holdings (03396.HK) achieved a revenue of 281.59 billion yuan, up 21% year-on-year, with net profit of 699 million yuan, an increase of 144% [2] - Great Wall Motors (02333.HK) reported a revenue of 92.34 billion yuan, up 1% year-on-year, with net profit of 6.34 billion yuan, down 10.2% [2] - BYD Electronics (00285.HK) achieved a revenue of 80.61 billion yuan, up 2.6% year-on-year, with net profit of 1.73 billion yuan, an increase of 14% [2] - Country Garden (02007.HK) reported a revenue of 72.57 billion yuan, with a net loss of 19.078 billion yuan [2] - China Reinsurance (01508.HK) achieved a revenue of 61.03 billion yuan, up 0.6% year-on-year, with net profit of 6.244 billion yuan, an increase of 9.03% [2] - Yanzhou Coal Mining Company (01171.HK) reported a revenue of 53.966 billion yuan, down 13.17% year-on-year, with net profit of 4.731 billion yuan, down 38.7% [2] - Jitu Express (01519.HK) achieved a revenue of 5.499 billion USD, up 13.1% year-on-year, with net profit of 156 million USD, an increase of 147.1% [2] - AVIC Industry (02357.HK) reported a revenue of 37.465 billion yuan, up 11.43% year-on-year, with net profit of 1.03 billion yuan, down 17.67% [2] - CITIC Financial Assets (02799.HK) achieved a revenue of 31.136 billion yuan, up 2.9% year-on-year, with net profit of 6.168 billion yuan, an increase of 15.7% [2] - Bank of China Hong Kong (02388.HK) reported a net interest income of 25.06 billion HKD, down 3.5% year-on-year, with net profit of 22.12 billion HKD, an increase of 10.54% [2] - Zoomlion Heavy Industry (01157.HK) achieved a revenue of 24.855 billion yuan, up 1.3% year-on-year, with net profit of 2.765 billion yuan, an increase of 20.84% [2] - New Town Development (01030.HK) reported a revenue of 22.1 billion yuan, down 34.82% year-on-year, with net profit of 895 million yuan, down 32.11% [2] - Huatai Securities (06886.HK) achieved a revenue of approximately 20.98 billion yuan, up 5.86% year-on-year, with net profit of 7.549 billion yuan, an increase of 42.16% [2] - China Sanjiang Chemical (02198.HK) reported a revenue of 9.106 billion yuan, down 1.5% year-on-year, with net profit of 301 million yuan, an increase of 95.5% [2] - Tianjin Bank (01578.HK) achieved a revenue of 8.828 billion yuan, up 0.8% year-on-year, with net profit of 1.988 billion yuan, an increase of 1.1% [2] - Harbin Bank (06138.HK) reported a revenue of 7.386 billion yuan, up 2.6% year-on-year, with net profit of 915 million yuan, an increase of 20% [2] - Qingjian International (01240.HK) achieved a revenue of approximately 4.404 billion HKD, down 9.8% year-on-year, with net profit of 2.992 million HKD, an increase of 25.6% [2] - Xingye Alloy (00505.HK) reported a revenue of 4.389 billion yuan, up 22.1% year-on-year, with net profit of 106 million yuan, down 24.7% [2] - 3SBio (01530.HK) achieved a revenue of 4.355 billion yuan, down 0.8% year-on-year, with net profit of 1.358 billion yuan, an increase of 24.6% [2] - Huya Technology (01860.HK) reported a revenue of 938 million USD, up 47% year-on-year, with adjusted EBITDA of 88.681 million USD, an increase of 41% [2] - Haitong Securities (01905.HK) achieved a revenue of 3.521 billion yuan, down 12.6% year-on-year, with net profit of 785 million yuan, down 3.4% [2] - Dazhong Public Utilities (01635.HK) reported a revenue of approximately 3.449 billion yuan, down 5.8% year-on-year, with net profit of approximately 333 million yuan, an increase of 172.6% [2] Company News - China Biologic Products (01177.HK) received approval for the launch of Zongaitini tablets for the treatment of HER2-mutant non-small cell lung cancer [3] - Shandong High-Speed New Energy (01250.HK) reported a total operating power generation of approximately 3.6744 million MWh, an increase of approximately 6.9% year-on-year [3] - Fosun International (00656.HK) reached a settlement with Cainiao regarding a share buyback involving 350 million USD [3] Buyback Activities - Tencent Holdings (00700.HK) repurchased approximately 55 million HKD worth of shares, buying back 919,000 shares at prices ranging from 594.5 to 605 HKD [3] - China Hongqiao (01378.HK) repurchased approximately 22.7 million HKD worth of shares, buying back 8.9235 million shares at a price of 25.44 HKD [3] - HSBC Holdings (00005.HK) repurchased approximately 15.3 million HKD worth of shares, buying back 1.5276 million shares at prices ranging from 99.8 to 100.7 HKD [3] - Hang Seng Bank (00011.HK) repurchased approximately 2.3517 million HKD worth of shares, buying back 210,000 shares at prices ranging from 111.5 to 112.5 HKD [3] - MGM China (02282.HK) repurchased approximately 1.60602 million HKD worth of shares, buying back 1 million shares at prices ranging from 15.92 to 16.27 HKD [3] - Sinopec Engineering (02386.HK) canceled 136,500 shares that had been repurchased [3]

中国宏桥(01378.HK)8月29日耗资2.27亿港元回购892.35万股 中国宏桥(01378.HK)8月28日耗资2.66亿港 元回购1057.45万股 相关事件 格隆汇8月29日丨中国宏桥(01378.HK)发布公告，2025年8月29日耗资2.27亿港元回购892.35万股，回购 价格每股25.44港元。 ...

智通财经APP讯，中国宏桥(01378)发布公告，于2025年8月29日，该公司斥资2.27亿港元回购892.35万 股。 ...

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 FF305 公司名稱： 中國宏橋集團有限公司 呈交日期： 2025年8月29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 ...

中国宏桥(01378)发布公告，本公司的子公司山东宏桥新型材料有限公司(山东宏桥)于2025年上半年取得 营业收入782.08亿元，同比增加8.55%;归属于母公司所有者的净利润124.67亿元，同比增加27.49%。 ...

智通财经APP讯，中国宏桥(01378)发布公告，本公司的子公司山东宏桥新型材料有限公司(山东宏桥)于 2025年上半年取得营业收入782.08亿元，同比增加8.55%;归属于母公司所有者的净利润124.67亿元，同 比增加27.49%。 ...