Core Insights - The report highlights significant changes in the Hong Kong Stock Connect holdings, with notable increases and decreases in ownership percentages for various companies [1][2][3] Group 1: Companies with Increased Holdings - Guofu Hydrogen (02582) saw the largest increase in holdings, up by 5.52%, bringing its total to 14.45% [2] - Longpan Technology (02465) experienced a 2.85% increase, with a new holding percentage of 39.00% [2] - Yingfu Fund (02800) increased by 2.53%, now holding 3.54% [2] - Over the last five trading days, Guofu Hydrogen (02582) had the highest increase at 7.02%, with a total holding of 14.45% [3] - Other notable increases include Juxing Legend (06683) at 4.80% and Yihua Tong (02402) at 4.15% [3] Group 2: Companies with Decreased Holdings - Sanhua Intelligent Control (02050) had the largest decrease, down by 0.83% to 19.79% [2] - ZTE Corporation (00763) saw a reduction of 0.66%, now at 49.46% [2] - Goldwind Technology (02208) decreased by 0.60%, with a holding of 46.93% [2] - In the last five trading days, Heng Seng China Enterprises (02828) experienced the largest drop at 3.11%, now at 2.87% [3] - Other significant decreases include Chongqing Steel (01053) at -2.84% and Goldwind Technology (02208) at -1.59% [3] Group 3: Long-term Trends - Over a 20-day period, Haotian International Construction Investment (01341) had the highest increase at 18.08%, reaching 68.79% [4] - Qingdao Bank (03866) increased by 11.25%, now holding 18.52% [4] - Anji Food (02648) saw a 10.18% increase, with a total holding of 36.77% [4] - Conversely, New Tian Green Energy (00956) had the largest decrease at -8.28%, now at 57.05% [4] - Longpan Technology (02465) also saw a significant drop of -5.78%, maintaining a holding of 39.00% [4]

Core Viewpoint - Sanhua Intelligent Control (02050) announced a share buyback of 699,300 A-shares for a total expenditure of RMB 30.0075 million, with the buyback price ranging from RMB 42.73 to 43 per share [1] Group 1 - The company plans to repurchase shares to enhance shareholder value [1] - The total amount allocated for the buyback is RMB 30.0075 million [1] - The number of shares to be repurchased is 699,300 [1]

Group 1 - The company, Sanhua Intelligent Control (02050.HK), announced a share buyback plan on November 14, 2025, involving an expenditure of RMB 30.075 million to repurchase 699,300 A-shares [1] - The buyback price is set between RMB 42.73 and RMB 43 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 公司名稱： 浙江三花智能控制股份有限公司 呈交日期： 2025年11月14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 | A | | 於香港聯交所上市 | 否 | | | | 證券代號 (如上市) | 002050 | 說明 | A股 (於深圳證券交易所上市) | | | | | | | 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 | | | ...

Market Performance - The Hang Seng Index increased by 1.26% this week, closing at 26,572.46 points, while the Tech Index decreased by 0.42% to 5,812.80 points, and the National Enterprises Index rose by 1.41% to 9,397.96 points [2][4]. Market Dynamics - The fluctuations in the Hong Kong stock market are closely related to external environments, particularly the impact of the U.S. government shutdown, which temporarily locked nearly one trillion dollars in liquidity, raising the cost of dollar funds and pressuring risk assets like U.S. and Hong Kong stocks [4]. - A recent report from Western Securities suggests that the end of the U.S. government shutdown may release previously "frozen" dollar liquidity, potentially leading to a liquidity-driven rally in the Hong Kong stock market [4]. Capital Inflows - Southbound capital has provided strong support, with net purchases through the Stock Connect exceeding HKD 1.3 trillion this year, totaling over HKD 5 trillion, indicating a shift towards a "semi-onshore market" where domestic capital plays a more significant role in pricing [4]. Sector Performance - Pharmaceutical stocks have seen renewed interest, with notable gains: - Gilead Sciences (01672.HK) up 45.40% - Clover Biopharmaceuticals (02197.HK) up 29.95% - Yummy (02589.HK) up 18.81% - The positive performance is attributed to strong Q3 results in innovative drugs and life sciences sectors [5]. - Other notable performers include: - HuShang Ayi (02589.HK) up 31.44% due to a new ten-year H-share incentive plan and reaching over 10,739 stores [5]. - Lee & Man Paper (00746.HK) up 17.37% benefiting from rising paper prices [5]. - Conversely, companies like Sanhua Intelligent Control (02050.HK) and Legend Holdings (06683.HK) faced declines of 10.93% and 19.82%, respectively, due to market risk aversion and concerns over equity dilution from a recent share placement [5]. Gold and Automotive Sectors - Gold stocks weakened following hawkish comments from Federal Reserve officials, with China Gold International (02099.HK) down 3.94% and Zijin Mining (02899.HK) down 2.94% [6][7]. - The automotive sector also faced declines, with Xpeng Motors (09868.HK) down 6.80% amid a drop in retail sales of passenger cars by 19% year-on-year for the first nine days of November [10][11]. Brokerage and Semiconductor Stocks - Chinese brokerage stocks adjusted, with major firms like GF Securities (01776.HK) and China Galaxy (06881.HK) experiencing declines due to a significant drop in new account openings [13]. - Semiconductor stocks also fell, influenced by a broader sell-off in U.S. tech stocks, with Shanghai Fudan (01385.HK) down 5.92% and SMIC (00981.HK) down 2.78% [14][16]. Individual Stock Movements - Lehua Entertainment (02306.HK) rose nearly 8% amid speculation regarding a contract renewal with a prominent artist [18]. - Zhonghui Biopharmaceuticals (02627.HK) increased by over 6% after announcing the initiation of Phase I clinical trials for its flu vaccines [19].

Core Viewpoint - Sanhua Intelligent Control (02050) has seen a decline of over 5%, retreating more than 20% from its year-to-date high, with a current trading price of 33.82 HKD and a transaction volume of 533 million HKD [1] Group 1: Company Performance - Sanhua Intelligent Control's stock dropped by 5.05% as of the latest report [1] - The company has recently been involved in rumors regarding a significant order from Tesla, which it denied, stating it has not secured any large orders [1] Group 2: Industry Insights - Goldman Sachs conducted a field research report on the Chinese humanoid robot supply chain from November 3 to 6, surveying nine companies, including Sanhua Intelligent Control [1] - The report indicates that these companies are actively planning production capacity both domestically and internationally, with annual capacity planning ranging from 100,000 to 1 million units of robot equivalents [1] - Goldman Sachs forecasts a global shipment of 1.38 million units by 2035, reflecting an optimistic outlook on the industry's growth potential [1] - None of the surveyed companies confirmed any substantial orders or provided a clear mass production timeline [1] Group 3: Strategic Developments - Sanhua Intelligent Control is focusing on its "thermal management" core technology to expand into the robotics business [1] - The company has acquired approximately 200,000 square meters of land in Thailand specifically for humanoid robot actuator assembly, and has initiated production capacity at this site [1]

Core Viewpoint - Sanhua Intelligent Control (02050.HK) announced a private arrangement to repurchase 912,000 A-shares at a cost of RMB 9.93 million, with a repurchase price range of RMB 9.05 to 11.4 per share [1] Summary by Category - **Company Actions** - The company plans to repurchase a total of 912,000 A-shares [1] - The total expenditure for the repurchase is RMB 9.93 million [1] - The repurchase price per share is set between RMB 9.05 and 11.4 [1]

Group 1 - The company, Sanhua Intelligent Control (stock code: 02050), announced a share buyback plan involving a total expenditure of 9.9315 million yuan to repurchase 912,000 A-shares [1]

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： 浙江三花智能控制股份有限公司 呈交日期： 2025年11月13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 | A | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | 002050 | 說明 | A股 (於深圳證券交易所上市) | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | 佔有關事件前的現有已發 | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：2050） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條 而 做 出。 茲載列浙江三花智能控制股份有限公司於深圳證券交易所網站(www.szse.cn)刊 登 的 公 告 如 下，僅 供 參 閱。 承董事會命 浙江三花智能控制股份有限公司 董事長兼執行董事 張亞波 香 港，2025 年11月13日 於本公告日 期，董事會包 括 (i)執行董事張亞波先 生、王大勇先 生、倪曉明先生 及陳雨忠先 生；(ii)非執行董事張少波先生及任金土先生 及 (iii)獨立非執行董事 鮑恩斯先 生、石建輝先 生、潘亞嵐女士以及葛俊先 生。 ZHEJIANG SANHUA INTELLIGENT CONTROLS CO., LTD. 浙江三 ...