Core Insights - The MEMS industry in Greater China is projected to reach $1.7 billion in revenue in 2024, with a year-on-year growth of 8.4% and an estimated shipment of 5.4 billion units [1] - The market is expected to grow at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2030, reaching $2 billion in revenue and 6.6 billion units sold by 2030 [1] - Chinese manufacturers are positioned to capitalize on this growth, particularly in the "AI + IoT + automotive electronics" wave [1] Market Dynamics - Consumer electronics remain the largest application segment for MEMS, with strong demand for inertial sensors, microphones, and pressure sensors in wearable devices like TWS headphones and smartwatches [3] - Major Chinese companies such as Silan Microelectronics, AAC Technologies, Goermicro, MiraMEMS, and MEMSensing are key players in the supply chain, leveraging performance, reliability, and cost advantages [3] - Goermicro is projected to achieve over 4.5 billion yuan in revenue in 2024, making it the largest smart sensor interaction solution provider in China [3] Revenue Growth - Silan Microelectronics reported a 10% increase in revenue for its MEMS sensor products in the first half of 2025, with a market share of 20%-30% in domestic smartphone brands [3] - AAC Technologies' sensor and semiconductor business revenue reached 608 million yuan in the first half of 2025, a 56.2% increase, driven by high signal-to-noise ratio microphones [4] - MEMSensing achieved a record revenue of 300 million yuan in the first half of 2025, a 47.82% increase, with significant upgrades in acoustic sensor technology [5] Industry Expansion - Chinese MEMS manufacturers are expanding into high-value sectors like automotive and industrial applications, with Silan Microelectronics developing high-precision inertial sensors for automotive use [6] - The automotive sector is seeing increased demand for MEMS microphones due to the rise of smart cockpits and voice control systems [6] - The industrial sector is leveraging MEMS accelerometers and microphones for equipment health monitoring, aligning with the cost and manufacturing flexibility of Chinese firms [7] Emerging Applications - The medical market is expected to be one of the fastest-growing segments for MEMS, particularly with the opening of the OTC hearing aid market in the U.S. and China [7] - MEMS technology is also being integrated into AI infrastructure, with demand for MEMS optical switches and micro-mirrors in optical communication systems [8] Device Maturity - The variety of MEMS devices includes inertial, acoustic, environmental, optical, medical, and energy-related types, with applications expanding beyond consumer electronics [9] - Chinese manufacturers have achieved near-complete domestic production of MEMS microphones, reaching international performance standards [10] Manufacturing Advancements - The MEMS foundry sector in Greater China is projected to grow by 14.3% in 2024, becoming a new growth engine for the industry [13] - Companies like Chipone Integrated Circuits and Huazhong University of Science and Technology are emerging as key players in MEMS wafer foundry [16][17] - The transition from 8-inch to 12-inch wafer production lines is underway, with Guangzhou Zengxin launching the first 12-inch MEMS sensor production line in China [18] Future Outlook - Chinese MEMS companies are expected to gain unprecedented development opportunities, benefiting from their position as a core manufacturing hub for consumer electronics, automotive, and industrial sectors [12] - The focus on manufacturing capabilities is shifting from "filling gaps" to "building advantages," enhancing China's bargaining power and technological influence in the global MEMS market [21]

Summary of Key Points Core Viewpoint - A total of 30 companies conducted share buybacks on November 6, 2025, with China Feihe (06186) leading in both the number of shares repurchased and the total amount spent on buybacks [1]. Group 1: Buyback Details - China Feihe (06186) repurchased 6.806 million shares for a total of 29.4298 million yuan, representing 0.746% of its total share capital [2]. - Kexin Pharmaceutical-B (02171) repurchased 1.734 million shares for 26.3078 million yuan, accounting for 0.380% of its total share capital [2]. - COSCO Shipping Holdings (01919) repurchased 1.53 million shares for 20.9869 million yuan, which is 0.409% of its total share capital [2]. Group 2: Other Notable Buybacks - Gushengtang (02273) repurchased 493,500 shares for 13.7699 million yuan, representing 3.435% of its total share capital [2]. - China Petroleum & Chemical Corporation (00386) repurchased 2.398 million shares for 10.1066 million yuan, which is 0.100% of its total share capital [2]. - Lianyi Technology-W (09959) repurchased 2.38 million shares for 7.4745 million yuan, accounting for 4.298% of its total share capital [2]. Group 3: Additional Companies - Other companies that conducted buybacks include: - Ruisheng Technology (02018) with 165,000 shares repurchased for 6.5033 million yuan [2]. - MGM China (02282) with 400,000 shares repurchased for 6.3701 million yuan [2]. - Huajian Medical (01931) with 922,000 shares repurchased for 5.9985 million yuan [2]. Group 4: Smaller Buybacks - Companies with smaller buyback amounts include: - Yidian Cloud (02416) with 130,000 shares repurchased for 264,000 yuan [3]. - International Home Retail (01373) with 150,000 shares repurchased for 118,500 yuan [3]. - Mobi Development (00947) with 70,000 shares repurchased for 1.167 million yuan [3].

Core Viewpoint - The MEMS (Micro-Electro-Mechanical Systems) industry in the Greater China region is projected to reach a global revenue of $1.7 billion in 2024, with a year-on-year growth of 8.4%, driven by the convergence of AI, IoT, and automotive electronics [2]. Group 1: Market Dynamics - The MEMS market is expected to have a compound annual growth rate (CAGR) of 3.6% from 2024 to 2030, with sales reaching 6.6 billion units and revenue hitting $2 billion by 2030 [2]. - Consumer electronics remain the largest application segment, particularly in TWS earbuds, smartwatches, and AR glasses, where demand for inertial sensors, microphones, and pressure sensors is strong [4][5]. Group 2: Chinese Manufacturers' Role - Chinese companies such as Silan Microelectronics, AAC Technologies, Goermicro, MiraMEMS, and MEMSensing are becoming key drivers in the MEMS market, leveraging advantages in performance, reliability, and cost [5]. - The domestic MEMS microphone industry has achieved nearly complete localization, forming a complete ecosystem from wafer to packaging, with performance metrics approaching international standards [12]. Group 3: Technological Advancements - MEMS acoustic sensors are set to undergo significant upgrades in technical specifications, particularly in signal-to-noise ratio, creating new market opportunities [6]. - The automotive and industrial sectors are seeing increased demand for high-reliability MEMS products, with applications in safety-related systems and device health monitoring [7]. Group 4: Emerging Markets - The medical market is anticipated to be one of the fastest-growing segments for MEMS, especially with the opening of the OTC hearing aid market in the U.S. and China [8]. - The demand for MEMS in communication and AI infrastructure is also rising, driven by the surge in data traffic and AI training scales [8]. Group 5: Manufacturing and Supply Chain - The MEMS foundry sector in Greater China is expected to grow by 14.3% in 2024, with companies like Chipone, Silex, and Huazhong University of Science and Technology leading the charge [17]. - The transition from 8-inch to 12-inch wafer production lines is underway, which will significantly reduce costs and increase output [19][21]. Group 6: Future Outlook - Chinese MEMS companies are positioned to seize unprecedented growth opportunities, benefiting from their proximity to key markets and the ability to respond quickly to customer needs [14][15]. - The next decade will be crucial for achieving breakthroughs in high performance, intelligence, and system integration within the MEMS industry [24].

Core Points - The company, AAC Technologies, has been actively repurchasing its shares, with a total of 16,500 shares bought back on November 6 at prices ranging from HKD 39.100 to HKD 39.500, amounting to HKD 6.5033 million [2] - Since November 4, the company has conducted share buybacks for three consecutive days, totaling 765,000 shares and a cumulative amount of HKD 29.7104 million, despite a slight decline of 0.40% in the stock price during this period [2] - Year-to-date, AAC Technologies has executed 74 buyback transactions, repurchasing a total of 2,284,700 shares for a total expenditure of HKD 888 million [3] Buyback Details - On November 6, the company repurchased 16.50 thousand shares at a maximum price of HKD 39.500 and a minimum price of HKD 39.100, with a total buyback amount of HKD 650.33 thousand [3] - The buyback activity includes previous transactions on November 5 and November 4, where 30,000 shares were repurchased each day for amounts of HKD 1,148.92 thousand and HKD 1,171.79 thousand respectively [3] - The buyback trend indicates a consistent strategy by the company to support its stock price and return value to shareholders [3][4]

Core Viewpoint - AAC Technologies (02018) announced a share buyback plan, investing HKD 6.5033 million to repurchase 165,000 shares at a price range of HKD 39.1 to 39.5 per share [1] Group 1 - The company will execute the buyback on November 6, 2025 [1] - The total investment for the share repurchase is approximately HKD 6.5 million [1] - The number of shares to be repurchased is 165,000 [1]

Core Viewpoint - AAC Technologies (02018) announced a share buyback plan, investing HKD 6.5033 million to repurchase 165,000 shares at a price range of HKD 39.1 to 39.5 per share [1] Summary by Category - **Company Actions** - The company will repurchase a total of 165,000 shares [1] - The total expenditure for the buyback is HKD 6.5033 million [1] - The buyback price per share is set between HKD 39.1 and HKD 39.5 [1]

Core Viewpoint - 瑞声科技 announced a share buyback of 165,000 shares at a cost of HKD 6.5 million on November 6 [1] Company Summary - The company executed a buyback program, indicating a potential strategy to enhance shareholder value [1] - The total expenditure for the buyback was HKD 6.5 million, reflecting the company's commitment to returning capital to shareholders [1] - The number of shares repurchased was 165,000, which may influence the stock's liquidity and market perception [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 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11月6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 | 每股發行/出售價 (註4) | 已發行股份總數 | | | 事件 | 已發行 ...

Group 1 - Goldman Sachs has raised GDP growth expectations for China and India due to manufacturing and export growth [1] - The report expresses a more favorable outlook for the technology, materials, insurance, and industrial sectors this month [1] - Ratings for the energy sector and other industries have been downgraded [1] Group 2 - Goldman Sachs has released a new list of buy-rated stocks in the Hong Kong market, including AIA (01299.HK), Techtronic Industries (00669.HK), China Pacific Insurance (02328.HK), and Lenovo Group (00992.HK) among others [2] - The list features a total of 25 companies, indicating a diverse range of sectors and investment opportunities [2][3]

Group 1 - Goldman Sachs has raised GDP growth expectations for China and India due to manufacturing and export growth [1] - The report expresses a positive outlook for the technology, materials, insurance, and industrial sectors this month [1] - Ratings for the real estate and energy sectors have been downgraded [1] Group 2 - A list of recommended stocks for investment in the Hong Kong market includes: AIA (01299.HK), Xiaomi-W (01810.HK), Hong Kong Exchanges (00388.HK), Ping An (02318.HK), Zijin Mining (02899.HK), Techtronic Industries (00669.HK), China Pacific Insurance (02328.HK), China Life Insurance (02601.HK), Lenovo Group (00992.HK), Luoyang Molybdenum (03993.HK), Hua Hong Semiconductor (01347.HK), Zhaojin Mining (01818.HK), Chalco (02600.HK), Weichai Power (02338.HK), CICC (03908.HK), Jiangxi Copper (00358.HK), AAC Technologies (02018.HK), Conch Cement (00914.HK), BYD Electronics (00285.HK), Minmetals Resources (01208.HK), CRRC (01766.HK), JD Logistics (02618.HK), Swire Properties A (00019.HK), China National Building Material (03323.HK), and Times Electric (03898.HK) [1]