Summary of Key Points Core Viewpoint - The article discusses the stock buyback activities of various companies, highlighting the amounts repurchased and their significance in terms of total shares outstanding. Group 1: Major Buybacks - Tencent Holdings (00700) had the largest buyback, repurchasing 1.044 million shares for a total of 636 million [1][2] - China Merchants Industry Holdings (01919) repurchased 4.461 million shares for 60.86 million, representing 2.986% of its total shares [2] - Geely Automobile (00175) bought back 1.362 million shares for 23.92 million, which is 0.078% of its total shares [2] Group 2: Notable Buyback Activities - China Feihe (06186) repurchased 5.655 million shares for 23.18 million, accounting for 2.605% of its total shares [2] - Yum China (09987) conducted two buybacks totaling 58,000 shares for 21.67 million, representing 4.750% of its total shares [2] - Kweichow Moutai (01951) repurchased 772,200 shares for 19.35 million, which is 0.280% of its total shares [2] Group 3: Other Companies Involved - Vitasoy International (00345) repurchased 2,000 shares for 13,300, which is 2.209% of its total shares [3] - Yanzhiyu (01497) bought back 200,000 shares for 1.39 million, representing 0.786% of its total shares [3] - Weigao Group (01066) repurchased 120,000 shares for 631,000, which is 5.179% of its total shares [3]

Core Viewpoint - Jinxin Reproductive Medicine (01951.HK) has conducted share buybacks for six consecutive days, totaling 30.946 million shares repurchased, amounting to HKD 77.515 million [1] Buyback Details - On December 12, the company repurchased 7.722 million shares at prices ranging from HKD 2.460 to HKD 2.530, with a total buyback amount of HKD 19.352 million [1] - The stock closed at HKD 2.510 on the same day, reflecting a 3.29% increase, with total trading volume of HKD 65.944 million [1] - Cumulatively, since December 5, the stock has increased by 0.40% during the buyback period [1] Buyback Summary Table - The buyback details are as follows: - December 12: 772.20 thousand shares, max price HKD 2.530, min price HKD 2.460, total amount HKD 19.352 million - December 11: 384.60 thousand shares, max price HKD 2.530, min price HKD 2.430, total amount HKD 9.542 million - December 10: 192.55 thousand shares, max price HKD 2.490, min price HKD 2.430, total amount HKD 4.766 million - December 9: 380.20 thousand shares, max price HKD 2.500, min price HKD 2.400, total amount HKD 9.208 million - December 8: 592.85 thousand shares, max price HKD 2.580, min price HKD 2.470, total amount HKD 14.849 million - December 5: 772.20 thousand shares, max price HKD 2.580, min price HKD 2.550, total amount HKD 19.798 million [1]

Group 1 - The company, Jinxin Reproductive Medicine (01951), announced a share buyback plan, committing to repurchase 7.722 million shares at a total cost of HKD 19.3521 million [1]

Core Viewpoint - Jinxin Reproductive (01951.HK) announced a share buyback on December 12, spending HKD 19.352 million to repurchase 7.722 million shares [1] Group 1 - The company executed a buyback of shares, indicating a strategic move to enhance shareholder value [1] - The total expenditure for the buyback was HKD 19.352 million, reflecting the company's commitment to returning capital to shareholders [1] - A total of 7.722 million shares were repurchased, which may influence the stock's liquidity and market perception [1]

公司名稱： 錦欣生殖醫療集團有限公司 呈交日期： 2025年12月12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) | 01951 | 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 (註4) | 已發行股份總數 ...

Group 1 - The company, Jinxin Reproductive Medicine (01951), announced a share buyback plan on December 11, 2025, involving an expenditure of HKD 9.5421 million to repurchase 3.846 million shares [1]

Group 1 - The company, Jinxin Reproductive Medicine (01951.HK), announced a share buyback on December 11, 2023, spending HKD 9.542 million to repurchase 3.846 million shares [1] - The buyback price ranged from HKD 2.43 to HKD 2.53 per share [1]

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 FF305 第 2 頁 共 7 頁 v 1.3.0 公司名稱： 錦欣生殖醫療集團有限公司 呈交日期： 2025年12月11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) | 01951 | 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 ...

Core Insights - The pharmaceutical and biotechnology index experienced a decline of 0.64% during the week, underperforming the Shanghai Composite Index by 1.34 percentage points, ending a two-week upward trend [4] - The National Healthcare Security Administration released the 2025 National Basic Medical Insurance Drug List, which included 114 products, achieving a success rate of 88% in negotiations, the highest in recent years [5] - The launch of the commercial health insurance innovative drug list included 19 drugs, complementing the basic medical insurance list and indicating a shift towards a multi-tiered healthcare system in China [5][19] Weekly Market Performance - The A-share market saw significant gains for Haiwang Bio, which rose by 71.20%, while Zhongsheng Pharmaceutical increased by 15.56% [2] - In the Hong Kong market, Jinxin Reproductive Medicine and Boan Biotechnology saw increases of 7.53% and 8.62%, respectively [2] Clinical Trials and Innovations - Kangfang Biopharma's dual-antibody drug, Kadunilumab, has initiated a Phase II clinical trial for esophageal squamous cell carcinoma, a prevalent cancer type in China [13][14] - A clinical trial for a gout treatment, polyethylene glycol-uricase injection (HZBio1), has also commenced, targeting patients with poorly controlled uric acid levels [17][18] New Drug Developments - Baoyi Pharmaceutical's stock surged nearly 140% on its first trading day, with a market capitalization of HKD 20.5 billion, despite a significant net loss of CNY 183 million in the first half of 2025 [6][7] - The company has 12 self-developed products, with SJ02 being the first long-acting FSH-CTP product approved in China [7] Industry Trends - The trend of "innovation + internationalization" remains a core direction for the pharmaceutical sector, supported by policies and increasing global competitiveness [5] - The demand for more effective and safer uric acid-lowering drugs is rising due to the increasing prevalence of gout, particularly among younger populations in China [18]

Summary of Key Points Core Viewpoint - A total of 30 companies conducted share buybacks on December 10, 2025, with Tencent Holdings (00700) leading in both the number of shares repurchased and the total amount spent on buybacks. Group 1: Companies with Significant Buybacks - Tencent Holdings (00700) repurchased 1.06 million shares for a total of 636 million, representing 0.961% of its total share capital [2] - Xiaomi Group-W (01810) repurchased 2.4 million shares for 101 million, accounting for 0.400% of its total share capital [2] - China Feihe (06186) repurchased 5.47 million shares for 22.94 million, which is 2.521% of its total share capital [2] Group 2: Other Notable Buybacks - Geely Automobile (00175) repurchased 1.54 million shares for 27.14 million, representing only 0.047% of its total share capital [2] - Kweichow Moutai (600519) repurchased 204,000 shares for 8.82 million, which is 0.180% of its total share capital [2] - Vitasoy International (00345) repurchased 404,000 shares for 2.67 million, accounting for 2.180% of its total share capital [2] Group 3: Companies with Lower Buyback Amounts - 康臣药业 (01681) repurchased 354,000 shares for 5.28 million, which is 15.048% of its total share capital [2] - 瑞声科技 (02018) repurchased 150,000 shares for 5.76 million, representing 0.492% of its total share capital [2] - 周黑鸭 (01458) repurchased 160,500 shares for 2.68 million, which is 1.407% of its total share capital [3]