Summary of Key Points Core Viewpoint - A total of 30 companies conducted share buybacks on November 17, 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 10.81 million shares for a total of 47.19 million yuan, representing 1.532% of its total share capital [2]. - COSCO Shipping Holdings (01919) repurchased 3 million shares for 41.62 million yuan, accounting for 1.083% of its total share capital [2]. - Sinopec Limited (00386) repurchased 3.79 million shares for 16.73 million yuan, which is 0.120% of its total share capital [2]. Group 2: Other Notable Buybacks - Lianlian Digital (02598) repurchased 1.71 million shares for 13.67 million yuan, representing 2.608% of its total share capital [2]. - Linklogis Technology (09959) repurchased 2.65 million shares for 7.40 million yuan, accounting for 4.885% of its total share capital [2]. - Jitu Express (01519) repurchased 640,000 shares for 6.25 million yuan, which is 0.041% of its total share capital [2]. Group 3: Additional Companies - Mengniu Dairy (02319) repurchased 200,000 shares for 2.98 million yuan, representing 0.660% of its total share capital [2]. - Kangning Jereh Pharmaceutical (09966) repurchased 350,000 shares for 3.42 million yuan, accounting for 0.211% of its total share capital [3]. - Huajian Medical (01931) repurchased 593,000 shares for 3.64 million yuan, which is 0.660% of its total share capital [3].

粉笔(02469)发布公告，于2025年11月17日，该公司斥资64.2万港元回购20万股股份，每股回购价3.21港 元。 ...

格隆汇11月17日丨粉笔(02469.HK)公告，11月17日耗资64.2万港元回购20万股。 ...

智通财经APP讯，粉笔(02469)发布公告，于2025年11月17日，该公司斥资64.2万港元回购20万股股份， 每股回购价3.21港元。 ...

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) | 02469 | 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 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 (註4) | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2025年11月1 ...

Core Insights - The company, Fenbi, is leveraging AI technology to enhance both online and offline business operations, aiming to maintain a competitive edge in the vocational education sector [1][3] - The vocational education market is experiencing growth opportunities due to relaxed age restrictions for civil service examinations, leading to increased demand for efficient exam preparation solutions [2] - Fenbi has strategically shifted its focus by abandoning less profitable business lines to navigate intense price competition in the industry [2][3] AI Integration and Product Development - Fenbi's AI applications have served over 15 million users since 2020, with more than 1.5 million paying users utilizing various AI products [3] - The company has launched multiple AI educational products, including AI interview coaching and exam preparation systems, with significant sales growth reported for its AI exam preparation classes [3] - The gross margin for AI exam preparation classes is projected to exceed 85%, significantly higher than the traditional large class model's margin of around 60% [3] R&D Investment and Competitive Advantage - Fenbi's R&D expenditure reached 108 million yuan in the first half of 2025, maintaining a leading position in the industry [6] - The company is reallocating IPO funds to enhance AI model development and infrastructure, reinforcing its technological moat [6] - Fenbi's competitive advantages in AI stem from its extensive user base, data accumulation, and personalized service capabilities [6] Future Outlook and Market Position - Fenbi's leadership expresses confidence in sustaining a competitive edge in AI technology for over five years, anticipating revenue and profit growth driven by AI business expansion [7] - The company plans to extend its services beyond civil service and vocational training to include teacher recruitment and general employment sectors [7] - The industry is expected to continue evolving, with companies needing to optimize their operations and invest in technology to achieve long-term success [8]

Core Viewpoint - Multiple companies conducted share buybacks on November 14, 2025, with China Feihe (06186) leading in both the number of shares repurchased and the total amount spent [1][2]. Group 1: Buyback Details - China Feihe (06186) repurchased 10.70 million shares for a total of 46.13 million yuan, representing 1.412% of its total share capital [2]. - COSCO Shipping Holdings (01919) repurchased 3.00 million shares for 42.58 million yuan, accounting for 0.979% of its total share capital [2]. - Sinopec Limited (00386) repurchased 6.74 million shares for 29.82 million yuan, which is 0.120% of its total share capital [2]. - AAC Technologies (02018) repurchased 300,000 shares for 11.97 million yuan, representing 0.212% of its total share capital [2]. - Yimeng Sunshine (N23020) repurchased 604,000 shares for 9.97 million yuan, accounting for 1.732% of its total share capital [2]. Group 2: Other Notable Buybacks - Kweichow Moutai (09987) repurchased 17,400 shares for 6.27 million yuan, which is 3.190% of its total share capital [2]. - Antong Oilfield Services (03337) repurchased 6.01 million shares for 5.99 million yuan, representing 1.660% of its total share capital [2]. - MGM China (02282) repurchased 338,700 shares for 5.45 million yuan, accounting for 0.763% of its total share capital [2]. - China Feihe (06186) has a cumulative buyback of 12.8 million shares for the year, which is 1.412% of its total share capital [2].

粉笔(02469)发布公告，于2025年11月14日，该公司斥资918.2万港元回购300万股股份，每股回购价格为 3.03-3.08港元。 ...

智通财经APP讯，粉笔(02469)发布公告，于2025年11月14日，该公司斥资918.2万港元回购300万股股 份，每股回购价格为3.03-3.08港元。 ...

格隆汇11月14日丨粉笔(02469.HK)公告，11月14日耗资918万港元回购300万股。 ...