Summary of Key Points Core Viewpoint - On June 19, 36 Hong Kong-listed companies conducted share buybacks totaling 41.06 million shares, with a total buyback amount of 698 million HKD [1][2]. Group 1: Company Buyback Details - Tencent Holdings repurchased 1.002 million shares for 500 million HKD, with a highest price of 506.000 HKD and a lowest price of 496.200 HKD, bringing its total buyback amount for the year to 33.037 billion HKD [1][2]. - AIA Group repurchased 1.4 million shares for 94.1 million HKD, with a highest price of 68.250 HKD and a lowest price of 66.600 HKD, totaling 13.729 billion HKD in buybacks for the year [1][2]. - Pacific Basin Shipping repurchased 19 million shares for 38.6 million HKD, with a highest price of 2.070 HKD and a lowest price of 2.020 HKD, totaling 164 million HKD in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on June 19 was from Tencent Holdings at 500 million HKD, followed by AIA Group at 94.1 million HKD [1][2]. - In terms of share quantity, Pacific Basin Shipping led with 19 million shares repurchased, followed by COSCO Shipping Development and China Eastern Airlines with 5 million and 2.5 million shares, respectively [1][2].

创新奇智与库卡机器人签署战略合作协议，双方将基于创新奇智的AInnoGC工业大模型，共同开发新一 代智能工业机器人系统和机械臂，并在多个方面展开合作。创新奇智表示，此次合作是公司在工业机器 人领域的重要布局，有助于促进工业自动化与智能化的融合。创新奇智成立于2018年，由李开复旗下创 新工场投资孵化，为国内企业级AI解决方案供应商和"AI+制造"解决方案供应商。公司尚未实现盈利， 2021-2024年经调整净亏损分别为1.42亿元、1.38亿元、1.54亿元及1.17亿元，但公司表示将继续大力投 资研发，力争成为面向制造领域智能工业机器人头部企业。(智通财经) ...

Core Viewpoint - The partnership between Innovusion (02121.HK) and KUKA Robotics marks a significant step in the integration of AI and manufacturing, focusing on the development of intelligent industrial robot systems driven by the AInnoGC industrial model [1][10]. Company Overview - Innovusion was established in 2018 and is backed by Innovation Works, specializing in enterprise-level AI solutions and "AI + manufacturing" solutions across various sectors including steel metallurgy, semiconductor panels, high-tech, automotive equipment, energy, food and beverage, and new materials [3]. - The company's development strategy is based on a "one model, one body, two wings" approach, leveraging its self-developed AInnoGC industrial model as the technical foundation and AI agents as the driving force in industrial software and robotics [4]. Industry Trends - The integration of AI into industrial robotics is increasingly recognized as a trend, with major companies like ABB and others planning to deepen their collaboration with AI technologies by 2025 [5][6]. - The concept of industrial embodied intelligence robots, which utilize large models to enhance robotic capabilities, is gaining traction, allowing robots to adapt to flexible production and complex tasks [6]. Market Position - Innovusion ranks third in China's computer vision market, fourth in machine learning platforms, first in AI industrial quality inspection solutions, and seventh in the large model application market according to IDC [7]. - Despite its strong market position, Innovusion has not yet achieved profitability, reporting adjusted net losses of 142 million, 138 million, 154 million, and 117 million yuan from 2021 to 2024 [8][9]. Financial Performance - The company reported a 21.1% decrease in R&D expenses in the previous year, amounting to 355 million yuan, attributed to improved efficiency and effective management of R&D spending [9]. - Innovusion emphasizes that the intelligent industrial robots powered by large models are still in the early stages of application, with the market landscape yet to be fully established [10].

| 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 | 97.50 | 50031.85 | 518.000 | 508.000 | 3053502.29 | | 01299 | 友邦保险 | 65.00 | 4496.05 | 69.600 | 68.750 | 1262654.38 | | 01519 | 极兔速 递-W | 115.00 | 776.50 | 6.780 | 6.690 | 26921.74 | | 01458 | 周黑鸭 | 162.10 | 398.80 | 2.490 | 2.430 | 16172.16 | | 01907 | 中国旭阳 集团 | 132.20 | 338.58 | 2.590 | 2.530 | 9131.98 | | 09896 | 名创优品 | 5.54 | 198.68 | 36.400 | 35.60 ...

目录 邹菁 李元婷 | 作者 六、小结 在私募行业高速发展的十几年，上市公司以各种形式参与一级市场私募股权投资，其主要目的是挖掘、孵化、锁定相关行业及上下游产业链中的优质标 的，拓展产业发展与投资的路径。而由上市公司主导的CVC基金在资本市场中"大显身手"，已然成为私募股权投资市场里不可或缺的关键力量，但又因此 饱受市场的诟病。这是因为上市公司本身处于公募市场，可以募集社会公众的资金，而其又可在私募市场募集合格投资人的资金，往往可能产生利益联 结，对于证券市场的影响力放大，故这种业务模式近年来被冠上"类金融"业务的标签，受到证监会、证券交易所（以下简称"交易所"）等监管部门的严格 限制，从而使得A股上市公司参与私募业务受到直接冲击。 设立上市公司背景的CVC基金，第一步是上市公司及相关主体在中国证券投资基金业协会（以下简称"中基协"）申请私募基金管理人资格。自《私募投资 基金登记备案办法》（以下简称《登记备案办法》）于2023年5月1日正式实施以来，与上市公司有关的私募管理人已成功落地多个案例，本篇文章拟对管 理人资格申请的路径及合规关注点进行分析，以供市场参考。 1 上市公司及关联方设立私募基金管理人的路径 ...

Core Insights - The industrial large model represents a new industrial form empowered by large models for industrial applications, with significant commercial implementation progress in recent years [1][2][3] - The market size for AI applications in China's manufacturing sector is projected to grow from 0.8 billion yuan in 2018 to 8.7 billion yuan in 2024, and is expected to exceed 14 billion yuan by 2025 [1][2][3] Industry Overview - Industrial large models are defined as large models that empower industrial applications, involving the integration of data, computing power, models, and applications to reshape the entire manufacturing value chain [2][5] - The industrial large model industry is experiencing rapid growth opportunities, driven by the transition of manufacturing towards digitalization, networking, and intelligence [7][8] Current Market Landscape - Major companies in the industrial large model space include Huawei, Innovation Works, iFlytek, and others, each developing their own industrial large model products [13][15] - The application of industrial large models spans various sectors, including automotive, home appliances, and energy management, with significant competition among key players [13][14] Future Trends - The industrial large model is evolving towards multi-modal integration, supporting the combination of text, images, voice, and sensor data, enhancing design and operational efficiency [19][20] - There is a trend towards miniaturization and lightweight models to meet real-time industrial needs, improving deployment efficiency in edge computing scenarios [20][21] - Domestic industrial large models are accelerating to overcome technological barriers, focusing on building a self-controlled ecosystem from chips to algorithms [21][23]

创新奇智被誉为AI+制造;第一股，公司专注于企业级AI市场，专注于服务B端企业客户，主要面向钢铁 冶金、能源电力、汽车装备、高科技/3C、金融等垂直领域的客户提供AI产品及解决方案，帮助客户在 产品质量控制、流程管理、人工成本、安全管控等方面提升效率和转型智能化，使AI技术真正脱虚向 实;。 近日，公司发布公告称，与亨利加（03638.HK）、钉钉签署战略合作协议，聚焦人工智能大模型及金 融服务场景应用，为公司注入增长动能，也将全面提升公司在AI金融服务领域的竞争力，这或导致了 公司股价的走强。与此同时，5月16日，港股的亨利加集团跳空大涨17.11%，资本市场的情绪较为乐 观。 5月16日，港股的AI公司创新奇智（02121.HK）涨9.57%，报4.58港元/股，市值25.8亿港元。 不过创新奇智去年业绩似乎平平。2024年公司实现营收12.22亿元（人民币，下同），同比大幅下降 30.2%，公司实现经调整净亏损1.17亿元，同比有所收窄。 此外，创新奇智2024年经营活动所用现金流量净额也有大幅改善，期末现金及现金等价物12.05亿元， 流动性较为充足，这或许也是公司敢于回购的底气所在。 部分机构对公司 ...

Group 1 - Innovation Qizhi Technology Group, Henry Group, and DingTalk signed a strategic cooperation agreement focusing on AI large models, smart asset management, and collaborative platform technology in financial services [1][3] - The collaboration aims to leverage Hong Kong as a strategic hub to promote global resource integration and technological implementation, contributing to the innovation of Hong Kong's financial ecosystem [1][3] - Innovation Qizhi's CEO emphasized that this partnership marks a significant milestone for expanding into Hong Kong and global markets, enhancing the company's competitiveness in smart finance [3][5] Group 2 - Innovation Qizhi has been deeply involved in the financial services sector since its inception, focusing on AI-driven solutions for banks and securities firms [3][6] - The company offers solutions such as intelligent data governance, smart data asset management, and investment decision support systems, which help financial clients upgrade their data governance systems and enhance risk management capabilities [3][6] - Henry Group specializes in financial and technology sectors, providing comprehensive family office services for high-net-worth families, focusing on asset allocation and risk management [4][7] Group 3 - DingTalk, developed by Alibaba Group, is a smart mobile office platform that enhances communication efficiency and execution for enterprises, becoming a key tool for digital transformation in China [4][8] - Since its entry into the Hong Kong market in 2024, DingTalk has been improving its products to meet the needs of international enterprises and has established a localized ecosystem [4][8] - The collaboration among the three parties aims to create intelligent solutions for the financial services industry and drive the digital transformation of Hong Kong's financial enterprises [5]

智通财经APP获悉，摩比发展(00947)、方正控股(00418)、富智康集团(02038)、时代电气(03898)、国泰 君安国际(01788)、清科创业(01945)、蒙牛乳业(02319)、昊海生物科技(06826)、百宏实业(02299)、上海 石油化工股份(00338)、信利国际(00732)、旭日企业(00393)、中远海发(02866)、归创通桥-B(02190)、中 远海控(01919)、玄武云(02392)、友邦保险(01299)、IGG(00799)、周黑鸭(01458)、太古地产(01972)、希 玛眼科(03309)、创新奇智(02121)、天鸽互动(01980)、和铂医药-B(02142)、连连数字(02598)、太古股份 公司A(00019)、四环医药(00460)、欧康维视生物-B(01477)、彩客新能源(01986)、民银资本(01141)、思 派健康(00314)、嬴集团(00397)、KEEP(03650)、和誉-B(02256)、天福(06868)、乐声电子(00213)、中国 东方航空股份(00670)、药师帮(09885)、极兔速递-W(01519)、太古股份公司B ...

| 朝云集团(06601) | 558.91 | 0.87 | 1 | | --- | --- | --- | --- | | 招商银行(03968) | 90208.86 | 0.84 | 1 | | 新天绿色能源(00956) | 3408.94 | 0.81 | 3 | | 新吉奥房车(00805) | 519.87 | 0.79 | 2 | | 赢家时尚(03709) | 881.37 | 0.78 | 1 | | 耀才证券金融(01428) | 142664.51 | 0.78 | 1 | | 粤港湾控股(01396) | 829.66 | 0.76 | 5 | | 同源康医药-B(02410) | 8492.89 | 0.73 | 2 | | 长飞光纤光缆(06869) | 12912.22 | 0.70 | 1 | | 国美零售(00493) | 297.49 | 0.70 | 1 | | 中远海运港口(01199) | 3644.33 | 0.68 | 6 | | 亨利加集团(03638) | 165.42 | 0.60 | 4 | | 茂盛控股(00022) | 512.32 | 0.59 ...