Core Viewpoint - AAC Technologies (瑞声科技) shares rose nearly 3%, currently up 2.08% at HKD 38.28, with a trading volume of HKD 71.175 million, following the launch of Alibaba's first self-developed flagship dual-display AI glasses, Quark AI Glasses S1, which emphasizes a super AI assistant experience [1] Group 1: Product Development - Alibaba's Quark AI Glasses S1 features a high-precision audio pickup system developed in collaboration with AAC, consisting of 5 high-performance microphones and 1 bone conduction microphone [1] - The AI phone, Doubao, utilizes AAC's self-developed high-performance X-axis linear motor and dual speaker system to enhance immersive voice and tactile interaction experiences [1] Group 2: Strategic Collaborations - AAC has reportedly collaborated deeply with several overseas large model and smart terminal companies to explore innovative paths for "AI + terminal" applications [1] - In addition to its traditional strengths in acoustic and haptic devices, AAC is expanding its business boundaries by providing optical waveguides, high-end cooling systems, and other perception solutions and core products for AI phones, XR wearable devices, and new forms of smart hardware [1]

Core Viewpoint - AAC Technologies (瑞声科技) shares rose nearly 3%, currently trading at 38.28 HKD, with a transaction volume of 71.1751 million HKD, following the launch of Alibaba's first self-developed flagship dual-display AI glasses, Quark AI Glasses S1, which emphasizes a super AI assistant experience [1] Group 1: Product Development - Alibaba's Quark AI Glasses S1 features a high-precision audio pickup system developed in collaboration with AAC, consisting of 5 high-performance microphones and 1 bone conduction microphone [1] - The AI phone, Doubao, utilizes AAC's high-performance X-axis linear motor and dual speaker system to enhance immersive voice and tactile interaction experiences [1] Group 2: Strategic Collaborations - AAC has engaged in deep collaborations with multiple overseas large model and smart terminal companies to explore innovative applications of "AI + terminal" [1] - The company is expanding its business boundaries by providing optical waveguides, high-end cooling systems, and other perception solutions and core products for AI phones, XR wearable devices, and new forms of smart hardware [1]

Core Insights - Multiple companies, including Tencent Holdings and China Petroleum & Chemical Corporation, conducted share buybacks on December 5, 2025, with Tencent leading in both volume and monetary value [1][2] Company Summaries - **Tencent Holdings (00700)**: Repurchased 1.046 million shares for a total of 636 million, with a year-to-date total of 85.148 million shares, representing 0.927% of total share capital [2] - **China National Offshore Oil Corporation (01919)**: Bought back 3 million shares for 41.6745 million, with a cumulative total of 6.9543 million shares, accounting for 2.415% of total share capital [2] - **Kuaishou-W (01024)**: Acquired 438,000 shares for 29.9859 million, with a year-to-date total of 682,460 shares, representing 0.159% of total share capital [2] - **Fenbi (02469)**: Conducted a buyback of 6.657 million shares for 21.0954 million, with a cumulative total of 26.657 million shares, accounting for 1.193% of total share capital [2] - **Jinxin Fertility (01951)**: Repurchased 7.722 million shares for 19.7977 million, with a total of 7.722 million shares year-to-date, representing 0.280% of total share capital [2] - **Yum China (09987)**: Engaged in two buybacks, totaling 57,000 shares for 19.1905 million, with a cumulative total of 16.2024 million shares, accounting for 4.350% of total share capital [2] - **China Feihe (06186)**: Bought back 3 million shares for 12.3 million, with a cumulative total of 208 million shares, representing 2.295% of total share capital [2] - **Haier Smart Home (06690)**: Acquired 450,000 shares for 12.1991 million, with a total of 330,000 shares year-to-date, representing 0.116% of total share capital [2] - **Vitasoy International (00345)**: Repurchased 1.302 million shares for 8.6504 million, with a cumulative total of 1.928 million shares, accounting for 1.837% of total share capital [2] - **Coolpad Group (02369)**: Conducted a buyback of 4.144 million shares for 5.5725 million, with a total of 15.048 million shares year-to-date, representing 3.925% of total share capital [2]

Summary of Key Points Core Viewpoint - 瑞声科技 has been actively repurchasing its shares, indicating a strategy to support its stock price amidst recent declines [1]. Group 1: Share Buyback Details - On December 5, 瑞声科技 repurchased 150,000 shares at prices ranging from HKD 38.280 to HKD 39.220, totaling HKD 5.7897 million [1]. - The stock closed at HKD 38.480 on the same day, down 1.08%, with a total trading volume of HKD 203 million [1]. - Since December 3, the company has repurchased shares for three consecutive days, totaling 450,000 shares and an aggregate amount of HKD 17.4123 million, with the stock down 2.48% during this period [1]. Group 2: Year-to-Date Buyback Activity - Year-to-date, 瑞声科技 has conducted 89 buyback transactions, repurchasing a total of 26.5685 million shares for an aggregate amount of HKD 1.029 billion [1].

格隆汇12月5日丨瑞声科技(02018.HK)公告，12月5日耗资579万港元回购15万股，每股购回价38.28- 39.22港元。 本文源自：格隆汇 ...

瑞声科技(02018)公布，2025年12月5日耗资约578.97万港元回购15万股股份。 ...

智通财经APP讯，瑞声科技(02018)公布，2025年12月5日耗资约578.97万港元回购15万股股份。 （原标题：瑞声科技(02018)12月5日耗资约578.97万港元回购15万股） ...

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) FF305 表格類別： 股票 狀態： 新提交 公司名稱： 瑞聲科技控股有限公司（於開曼群島註冊成立之有限公司） 呈交日期： 2025年12月5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) | 02018 | 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 ...

Summary of Key Points Core Viewpoint - 瑞声科技 has been actively repurchasing its shares, indicating a strategy to enhance shareholder value amidst recent stock price fluctuations [1]. Share Buyback Details - On December 4, 瑞声科技 repurchased 150,000 shares at a price range of HKD 38.640 to HKD 39.000, totaling HKD 5.8279 million [1]. - The stock closed at HKD 38.900 on the same day, reflecting a 0.78% increase, with a total trading volume of HKD 105 million [1]. - Since December 3, the company has conducted buybacks for two consecutive days, acquiring a total of 300,000 shares for a cumulative amount of HKD 11.6226 million [1]. - The stock has seen a cumulative decline of 1.42% during this buyback period [1]. Year-to-Date Buyback Activity - In 2025, 瑞声科技 has executed 88 buyback transactions, acquiring a total of 26.4185 million shares for a total expenditure of HKD 1.024 billion [1].

Core Viewpoint - AAC Technologies (02018) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1: Share Buyback Details - The company will repurchase 150,000 shares at a total cost of HKD 5.8279 million [1] - The buyback price range is set between HKD 38.64 and HKD 39.00 per share [1]