Market Overview - The Hang Seng Index (HSI) closed at 25,485.70, down by 10.85 points or 0.04% as of September 2, 16:00 Eastern Time [1] - The index reached a high of 25,496.61 and a low of 25,284.62 during the trading session, with a trading volume of 95.8438 million [1] - The 52-week high for the index is 25,778.47, while the 52-week low is 17,034.99, indicating a trading range of 0.83% [1] Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 100.038, up by 0.29% compared to the Hong Kong close [2] - Tencent Holdings closed at HKD 603.227, reflecting an increase of 0.45% from the Hong Kong close [2] Individual Stock Movements - Tencent Holdings (00700) latest price is HKD 600.500, down by HKD 4.500 or 0.74% [3] - Alibaba Group (09988) latest price is HKD 134.700, down by HKD 2.400 or 1.75% [3] - China Construction Bank (00939) latest price is HKD 7.700, up by HKD 0.150 or 1.99% [3] - Xiaomi Group (01810) latest price is HKD 55.850, up by HKD 1.850 or 3.43% [3] - AIA Group (01299) latest price is HKD 72.700, down by HKD 1.400 or 1.89% [3] - Hong Kong Exchanges and Clearing (00388) latest price is HKD 443.600, down by HKD 4.400 or 0.98% [3] - JD.com (09618) latest price is HKD 119.600, down by HKD 1.800 or 1.48% [3]

牛市之下，很多投资标的都展示出了不错的投资机会。 最近，全球最大电解铝巨头的中国宏桥表现也堪称漂亮，股价持续单边波动上涨，年内至今以累计大涨达到了1.36倍。而如果从2024年初算起，其股价不 到两年甚至飙涨了4.7倍（前复权），丝毫不逊色于当下热度很高的AI和芯片概念龙头。 目前其总市值来到了2460亿港元，且PE估值仅有8.7倍。 | | ■ 01378 分时 多日 日K 周K 月K 章K 华K 1分 3分 5分 10分 15分 30分 v 5天:5分K v 品示 × ◎ ■× ◎ ○ ▽ VS FID ■ | | 图价 分析 | | 资讯 · 评论 · | | --- | --- | --- | --- | --- | --- | | | (0) (x) MA v MA5: 34.966 * MA10: 32.230 . MA20: 28.017 = MA30: 26.015 = MA61: MA120: MA250 高度 | 200 | 01378 中国宏桥 25.680 t +0.240 +0.94% | | | | 37,754 | | 37,754 | 四号 200 2 2 2 2 | | | ...

以金额进行统计，9月1日回购金额最多的是腾讯控股，回购金额为5.50亿港元；其次是中国宏桥，回购 金额为3.92亿港元；回购金额居前的还有快手-W、恒生银行等。回购数量上看，9月1日回购股数最多 的是中国文旅农业，当日回购量为2250.40万股；其次是中国宏桥、普华和顺等，回购数量分别为 1527.55万股、320.00万股。 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 值得关注的是，中国文旅农业本次回购为年内首次进行回购。本次回购5.50亿港元的腾讯控股，年内则 进行多次回购，合计回购金额为460.99亿港元。（数据宝） （文章来源：证券时报网） | 代码 | 简称 | 回购股数 | 回购金额（万 | 回购最高价 | 回购最低价 | 年内累计回购金额 | | --- | --- | --- | --- | --- | --- | --- | | | | （万股） | 港元） | （港元） | （港元） | （万港元） | | 00700 | 腾讯控股 | 91.00 | 55047.65 | 609.500 | 601.500 | 4609949.54 | | 01378 | 中国宏桥 | ...

Core Viewpoint - The article highlights the significant stock buybacks by various Hong Kong-listed companies, indicating a trend of companies returning capital to shareholders through repurchases, with Tencent Holdings leading in buyback amounts [1] Group 1: Stock Buybacks - On September 1, a total of 31 Hong Kong stocks conducted buybacks, with 5 stocks exceeding 10 million HKD in buyback amounts [1] - Tencent Holdings, China Hongqiao, and Kuaishou-W had the largest buyback amounts, at 550 million HKD, 392 million HKD, and 83.7162 million HKD respectively [1] - Year-to-date, 224 Hong Kong stocks have conducted buybacks, with 44 stocks having cumulative buyback amounts exceeding 100 million HKD [1] Group 2: Cumulative Buyback Amounts - The companies with the highest cumulative buyback amounts this year are Tencent Holdings at 46.099 billion HKD, HSBC Holdings at 24.145 billion HKD, and AIA Group at 17.693 billion HKD [1]

Summary of Key Points Core Viewpoint - Multiple companies, including Tencent Holdings and China Hongqiao, conducted share buybacks on September 1, 2025, with Tencent leading in terms of buyback amount and quantity [1][2]. Group 1: Buyback Details - Tencent Holdings (00700) repurchased 910,000 shares for a total of 550 million [2]. - China Hongqiao (01378) repurchased 15,275,500 shares for a total of 392 million [2]. - Weichai Power (02338) repurchased 7,300,000 shares for a total of 109 million [2]. - Kuaishou-W (01024) repurchased 113,700 shares for a total of 83.72 million [2]. - Hang Seng Bank (00011) repurchased 210,000 shares for a total of 23.57 million [2]. Group 2: Cumulative Buyback Data - Tencent's cumulative buyback for the year reached 47,571,000 shares, accounting for 0.518% of its total share capital [2]. - China Hongqiao's cumulative buyback reached 104 million shares, accounting for 1.110% of its total share capital [2]. - Weichai Power's cumulative buyback reached 46,442,500 shares, accounting for 0.533% of its total share capital [2]. - Kuaishou's cumulative buyback for the year was 113,700 shares, accounting for 0.026% of its total share capital [2]. - Hang Seng Bank's cumulative buyback reached 4,440,000 shares, accounting for 0.236% of its total share capital [2].

中国宏桥(01378)公布，2025年9月1日耗资约3.92亿港元回购1527.55万股股份。 ...

Group 1 - The company China Hongqiao (01378.HK) announced a share buyback plan, intending to repurchase 15.2755 million shares at a total cost of HKD 392 million [1] - The buyback price is set at HKD 25.66 per share, indicating a strategic move to enhance shareholder value [1]

智通财经APP讯，中国宏桥(01378)公布，2025年9月1日耗资约3.92亿港元回购1527.55万股股份。 ...

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： 中國宏橋集團有限公司 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) | 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 ...

Core Viewpoint - The electrolytic aluminum industry is in an upward cycle, benefiting from rising aluminum prices and low coal prices, leading to significant profit elasticity for China Hongqiao (01378) [1] Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 81 billion yuan, a year-on-year increase of 10.1%, with a gross profit of 20.8 billion yuan, up 30 billion yuan, representing a growth rate of 17% [1] - The net profit attributable to shareholders reached 12.4 billion yuan, a year-on-year increase of 32%, with a basic earnings per share of 1.314 yuan, up approximately 36% [1] Group 2: Business Segments - The revenue from liquid aluminum alloys and aluminum alloy ingots was approximately 51.9 billion yuan, a year-on-year increase of 5%, with a gross profit of 13.1 billion yuan, up 9.5 billion yuan, representing an 8% growth [2] - The revenue from alumina was about 20.7 billion yuan, a year-on-year increase of 28%, with a gross profit of 5.9 billion yuan, up 18 billion yuan, representing a 44% growth [2] - The revenue from aluminum processing products was approximately 8.1 billion yuan, a year-on-year increase of 6%, with a gross profit of 1.9 billion yuan, up 2.8 billion yuan, representing an 18% increase [3] Group 3: Capacity and Cost Management - The increase in shareholding in Yunnan Hongtai from 75% to 100% will enhance the company's rights to 203,000 tons of electrolytic aluminum capacity, resulting in an increase of approximately 40,600 tons in equity capacity [4] - The average electricity price in Yunnan is expected to decrease from 0.49 yuan per kWh in the first half of 2024 to 0.42 yuan per kWh in the second half, significantly reducing production costs [5] Group 4: Mining Operations - The profit from the Guinea bauxite mine increased to approximately 1.8 billion yuan in the first half of 2025, a year-on-year increase of 119% [6] - The company has established a strong raw material supply capability through its overseas bauxite layout and is expected to enhance profits with the upcoming West Simandou iron ore project [6] Group 5: Shareholder Returns - The company plans to repurchase shares for no less than 3 billion Hong Kong dollars, reflecting confidence in its long-term value [7] - The company has maintained a high dividend payout ratio of around 50% since 2021, with a cash dividend total of 13.9 billion yuan in 2024 [7]