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： 固生堂控股有限公司 呈交日期： 2025年11月10日 FF305 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) | 02273 | 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 ...

Core Insights - Southbound funds saw significant inflows into Southern Hang Seng Technology, Alibaba-W, and Xiaomi Group-W, with net inflows of 1.286 billion, 0.885 billion, and 0.650 billion respectively [1][2] - Conversely, Huahong Semiconductor, SMIC, and Bilibili-W experienced the largest net outflows, with amounts of -0.642 billion, -0.505 billion, and -0.188 billion respectively [1][2] Net Inflow Summary - The top three stocks by net inflow were: - Southern Hang Seng Technology (03033) with a net inflow of 1.286 billion and a closing price of 5.670 (-0.61%) [2] - Alibaba-W (09988) with a net inflow of 0.885 billion and a closing price of 158.500 (-0.31%) [2] - Xiaomi Group-W (01810) with a net inflow of 0.650 billion and a closing price of 43.320 (-0.23%) [2] Net Outflow Summary - The top three stocks by net outflow were: - Huahong Semiconductor (01347) with a net outflow of -0.642 billion and a closing price of 73.450 (-3.10%) [2] - SMIC (00981) with a net outflow of -0.505 billion and a closing price of 71.700 (-0.21%) [2] - Bilibili-W (09626) with a net outflow of -0.188 billion and a closing price of 220.200 (-4.09%) [2] Net Inflow Ratio Summary - The top three stocks by net inflow ratio were: - Qingdao Bank (03866) with a net inflow ratio of 83.58% and a closing price of 4.240 (-1.17%) [1][2] - China Communication Construction (03969) with a net inflow ratio of 56.27% and a closing price of 3.490 (+1.16%) [2] - Datang New Energy (01798) with a net inflow ratio of 55.14% and a closing price of 2.470 (+0.82%) [2] Net Outflow Ratio Summary - The top three stocks by net outflow ratio were: - Yimaitong (02192) with a net outflow ratio of -51.15% and a closing price of 10.210 (+0.39%) [3] - China Oriental Education (00667) with a net outflow ratio of -48.49% and a closing price of 6.310 (-2.77%) [3] - Gushengtang (02273) with a net outflow ratio of -46.32% and a closing price of 28.180 (-1.33%) [3]

Market Overview - The Hong Kong stock market failed to maintain its strong performance from the previous day, with all three major indices closing lower. The Hang Seng Index fell by 0.92% or 244.07 points, closing at 26,241.83 points, with a total trading volume of HKD 2,096.44 million. The Hang Seng China Enterprises Index decreased by 0.94% to 9,267.56 points, while the Hang Seng Tech Index dropped by 1.8% to 5,837.36 points. For the week, the Hang Seng Index rose by 1.29%, while the China Enterprises Index increased by 1.08%, and the Tech Index fell by 1.2% [1] Blue Chip Performance - Xinyi Solar (00968) led the blue-chip stocks, rising by 7.86% to HKD 3.98, contributing 2.08 points to the Hang Seng Index. Industrial Securities noted that the trend of reduced losses in the photovoltaic main chain for Q3 is becoming an industry trend, suggesting a positive outlook for the photovoltaic sector [2] - Other notable blue-chip performances included Henderson Land (00012) up 3.97% to HKD 29.36, contributing 2.52 points, and Zijin Mining (02899) up 1.81% to HKD 32.64, contributing 5.17 points. Conversely, New Oriental (09901) fell by 4.95% to HKD 41.86, dragging down the index by 2.62 points, and Alibaba (09988) decreased by 2.97% to HKD 160.1, impacting the index by 74.15 points [2] Sector Highlights - The large technology stocks faced pressure, with Alibaba down nearly 3% and Tencent down over 1%. In contrast, photovoltaic stocks rose against the market trend, with Flat Glass (06865) up 9% and Xinyi Solar (00968) up 7.86% [3] - A consortium of leading polysilicon companies is planning to establish a fund of approximately HKD 70 billion to facilitate acquisitions, with discussions ongoing regarding the specifics of the acquisition plan. This initiative is expected to drive price increases in the photovoltaic sector [4] - The lithium battery sector showed strong performance, with Longpan Technology (02465) up 8.05% and Tianqi Lithium (09696) up 7.51% [4][5] AI Sector Concerns - There is growing concern regarding the high valuations of AI-related companies, particularly following comments from OpenAI's CFO about seeking financial backing from banks and private equity to support significant chip investments. This has intensified discussions about a potential "AI bubble" [6] - Huatai Securities highlighted that while the AI revolution is expected to significantly enhance productivity, recent discussions about an AI bubble, combined with high valuations of overseas tech stocks, may lead to increased short-term volatility [7] Notable Stock Movements - Dongyue Group (00189) saw a significant increase, closing up 7.85% at HKD 10.71, driven by the organic silicon concept's surge in the A-share market [8] - Gushengtang (02273) also performed well, rising 7.27% to HKD 29.8, following the board's decision to repurchase shares to enhance shareholder value [9] - China Duty Free Group (01880) continued its upward trend, closing up 4.35% at HKD 70.75, with expectations of growth in the duty-free market following the upcoming launch of the Hainan Free Trade Port [10] - XPeng Motors (09868) was active, rising 1.68% to HKD 90.9, as it announced the pre-sale of its new model [11] - Xiaomi Group (01810) faced pressure, dropping 2.76% to HKD 42.24, with hedge funds increasing short positions amid concerns over its growth prospects [12]

Core Viewpoint - The company, Guoshengtang (02273), has seen its stock price increase by over 4%, currently trading at 28.98 HKD with a transaction volume of 42.5 million HKD, following the announcement of share buyback plans and the commitment of its founder to increase shareholding [1] Group 1: Share Buyback Authorization - Guoshengtang announced that shareholders approved a resolution at the annual general meeting on June 20, 2025, granting the board the authority to repurchase up to 23.6965 million shares, representing 10% of the total issued shares as of that date [1] - On August 29, 2025, the board decided to exercise the buyback authorization, planning to repurchase shares in the open market for a total price of up to 300 million HKD [1] - Additionally, on November 6, the board resolved to further exercise the buyback authorization, planning to repurchase shares in the open market for another total price of up to 300 million HKD [1] Group 2: Founder’s Shareholding Commitment - The company responded to changes in major shareholder holdings, stating that founder Tu Zhiliang has never reduced his stake and has continuously increased it, demonstrating confidence in the company's development [1] - Since the company's listing in 2021, Tu Zhiliang has not only refrained from selling shares but has also made five purchases in the secondary market, accumulating a total of 2,824,828 shares [1] - This consistent increase in shareholding reflects Tu Zhiliang's strong belief in the company's long-term business prospects and value [1]

Core Viewpoint - The company, Gushengtang (02273), has seen its stock price increase by over 4%, currently trading at 28.98 HKD with a transaction volume of 42.5 million HKD, following announcements regarding share buybacks and the founder's continued investment in the company [1] Group 1: Share Buyback Authorization - Gushengtang announced that shareholders approved a general authorization for the board to repurchase up to 23.6965 million shares, representing 10% of the total issued shares as of June 20, 2025 [1] - On August 29, 2025, the board decided to exercise the buyback authorization, allowing for the repurchase of shares in the open market for a total price of up to 300 million HKD [1] - Additionally, on November 6, the board resolved to further exercise the buyback authorization, allowing for another repurchase of shares in the open market for an additional 300 million HKD [1] Group 2: Founder’s Shareholding Activity - The company responded to changes in major shareholder holdings, stating that founder Tu Zhiliang has never reduced his stake and has continuously increased it, demonstrating confidence in the company's development [1] - Since Gushengtang's listing in 2021, Tu Zhiliang has not only refrained from selling shares but has also made five purchases in the secondary market, accumulating a total of 2,824,828 shares [1] - This activity reflects Tu Zhiliang's strong belief in the company's long-term business prospects and value [1]

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].

Summary of Key Points Core Viewpoint - The company, Guosheng Tang, has been actively repurchasing its shares, indicating a strategy to support its stock price amidst a decline in market performance. Share Buyback Details - On November 6, the company repurchased 493,500 shares at a price range of HKD 27.740 to HKD 28.200, totaling HKD 13.7699 million [2] - Since September 10, the company has conducted buybacks for 39 consecutive days, acquiring a total of 7.848 million shares for a cumulative amount of HKD 237 million [2] - The stock has experienced a cumulative decline of 16.55% during the buyback period [2] - Year-to-date, the company has executed 62 buybacks, totaling 10.8026 million shares and an aggregate amount of HKD 331 million [2] Historical Buyback Data - The buyback details include various dates, share quantities, highest and lowest prices, and total amounts spent, showcasing a consistent effort to stabilize the stock price [3][4] - For instance, on October 31, the company repurchased 582,000 shares at a maximum price of HKD 28.680, amounting to HKD 16.5874 million [3] - The highest recorded buyback price during this period was HKD 33.900 on June 19, with a total of 195,000 shares repurchased [4]

固生堂(02273)发布公告，根据股东于2025年6月20日举行的股东周年大会上通过的股东决议案，公司董 事获授购回最多2369.65万股公司股份的一般授权，占截至2025年6月20日已发行股份总数的10%(购回授 权)。于2025年8月29日，董事会决议行使购回授权，适时于公开市场购回股份，总价最多3亿港元(先前 建议股份购回)。除先前建议股份购回总价，于2025年11月6日，董事会决议进一步行使购回授权，适时 于公开市场购回股份，再次增加最多3亿港元(建议股份购回)。 ...

智通财经APP讯，固生堂(02273)发布公告，根据股东于2025年6月20日举行的股东周年大会上通过的股 东决议案，公司董事获授购回最多2369.65万股公司股份的一般授权，占截至2025年6月20日已发行股份 总数的10%(购回授权)。 于2025年8月29日，董事会决议行使购回授权，适时于公开市场购回股份，总 价最多3亿港元(先前建议股份购回)。除先前建议股份购回总价，于2025年11月6日，董事会决议进一步 行使购回授权，适时于公开市场购回股份，再次增加最多3亿港元(建议股份购回)。 ...

格隆汇11月6日丨固生堂(02273.HK)公告，于2025年8月29日，董事会决议行使购回授权，适时于公开市 场购回股份，总价最多300百万港元。除先前建议股份购回总价，于2025年11月6日，董事会决议进一步 行使购回授权，适时于公开市场购回股份，再次增加最多3亿港元。 ...