Summary of Key Points Core Viewpoint - The company Guoquan (02517.HK) has been actively repurchasing its shares, with a total repurchase amount of HKD 126 million this year, indicating a strong commitment to enhancing shareholder value [1]. Repurchase Details - On September 29, 2025, Guoquan repurchased 1.5544 million shares at prices ranging from HKD 3.120 to HKD 3.250, totaling HKD 4.9942 million [1]. - The stock closed at HKD 3.240 on the same day, reflecting a 2.53% increase with a total trading volume of HKD 33.7938 million [1]. - Year-to-date, the company has conducted 24 repurchase transactions, acquiring a total of 55.4292 million shares for a cumulative amount of HKD 126 million [1]. Historical Repurchase Data - The repurchase history includes significant transactions, such as: - On June 9, 2025, 12.688 million shares were repurchased at a total cost of HKD 39.1015 million [1]. - On April 22, 2025, 3.1744 million shares were bought back for HKD 6.9629 million [1]. - The lowest repurchase price recorded was HKD 1.690 on January 13, 2025 [1].

Group 1 - The company, Guoquan (02517), announced a share buyback plan on September 29, 2025, involving an expenditure of HKD 4.9942 million [1] - A total of 1.5544 million shares will be repurchased at a price range of HKD 3.12 to HKD 3.25 per share [1]

Group 1 - The company, Guoquan (02517), announced a share buyback on September 29, 2025, spending HKD 4.9942 million to repurchase 1.5544 million shares [1] - The buyback price per share ranged from HKD 3.12 to HKD 3.25 [1]

Group 1 - The company, Guoquan (02517.HK), announced a share buyback on September 29, spending HKD 5 million to repurchase 1.55 million shares [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： 鍋圈食品(上海)股份有限公司 確認 不適用 第一章節註釋： 若股份曾以超過一個每股價格發行/出售/購回/贖回，則須提供每股成交量加權平均價格。 呈交日期： 2025年9月29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 | H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02517 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括 ...

Group 1 - The company plans to repurchase up to HKD 100 million of its H shares in the open market, reflecting confidence in its performance and commitment to shareholder returns [1] - The company has announced three repurchase plans since 2024, each not exceeding HKD 100 million, with the first two already completed [1] - The company has prioritized shareholder returns, distributing dividends of RMB 200 million at the end of 2024 and RMB 190 million in mid-2025, indicating strong management confidence [1] Group 2 - The company opened 250 new stores in H1 2025, with a net increase of 270 stores in rural areas, aligning with the trend of expanding into lower-tier markets [1] - The company is expected to successfully achieve its goal of adding 1,000 new stores this year, with strong demand anticipated in Q4 [1] - The company has demonstrated improved operational capabilities, with same-store revenue growth and a significant turnaround of loss-making stores, validating positive operational trends [2] Group 3 - The company's core operating profit margin reached 5.9% in H1 2025, an increase of 1.2 percentage points year-on-year, while the net profit margin also improved to 5.9%, up by 2.7 percentage points [2] - The company is currently valued at less than 20 times earnings for 2025, suggesting a favorable investment opportunity [2] - Revenue projections for 2025-2027 are estimated at RMB 7.29 billion, RMB 8.39 billion, and RMB 9.55 billion, with corresponding net profits of RMB 420 million, RMB 500 million, and RMB 580 million, indicating strong growth [2]

Group 1 - The core viewpoint of Dongwu Securities maintains the previous profit forecast for Guoquan (02517), expecting revenue from 2025 to 2027 to be 7.29/8.39/9.55 billion yuan, with year-on-year growth of +13%/+15%/+14% and net profit attributable to shareholders to be 420/500/580 million yuan, with year-on-year growth of +81%/+19%/+17% [1] - The company has announced multiple share buybacks, which not only enhance shareholder returns but also demonstrate the company's confidence [1] - The company has completed two of the three announced buybacks since 2024, with a total buyback amount not exceeding 100 million Hong Kong dollars, and has also prioritized cash dividends, distributing 200 million yuan at the end of 2024 and 190 million yuan in mid-2025 [1] Group 2 - The company opened 250 new stores in the first half of 2025, with a net increase of 270 stores in rural areas, aligning with the consumption trend in lower-tier markets [2] - The company has a first-mover advantage and scale advantage in the rural market, where competition is currently insufficient, and the feedback from grassroots research indicates strong willingness from franchisees [2] - The company plans to add 1,000 new stores this year, and the expectations for store openings in Q4 are anticipated to be met [2] Group 3 - The company's same-store revenue has maintained positive growth year-to-date, and loss-making stores have significantly turned profitable, validating the positive trend in store operations [3] - The core operating profit margin reached 5.9% in the first half of 2025, an increase of 1.2 percentage points year-on-year, while the net profit margin was also 5.9%, up by 2.7 percentage points year-on-year [3] - The current valuation for 2025 is below 20 times earnings, and the company continues to be a key recommendation [3]

Group 1 - The core viewpoint of Dongwu Securities maintains the previous profit forecast for Guoquan (02517), expecting revenue for 2025-2027 to be 7.29/8.39/9.55 billion yuan, with year-on-year growth of +13%/+15%/+14% and net profit attributable to shareholders to be 420/500/580 million yuan, with year-on-year growth of +81%/+19%/+17%, corresponding to PE ratios of 19/16/14X, and maintains a "Buy" rating [1] - The company has announced multiple share buybacks, which not only enhance shareholder returns but also demonstrate the company's confidence [1] - The company has completed two of the three announced buybacks since 2024, with a total buyback amount not exceeding 100 million Hong Kong dollars, and has also prioritized shareholder returns with cash dividends of 200 million yuan at the end of 2024 and 190 million yuan in mid-2025 [1] Group 2 - The company opened 250 new stores in the first half of 2025, with a net increase of 270 stores in rural areas, aligning with the consumption trend in lower-tier markets [2] - The company has a first-mover advantage and scale advantage in the rural market, where competition on the supply side is insufficient, providing diverse and cost-effective products to rural consumers [2] - Based on grassroots research feedback, the company is expected to successfully achieve its plan of adding 1,000 new stores this year, with expectations for a strong performance in the Q4 peak season [2] Group 3 - The company's same-store revenue has maintained positive growth year-to-date, and loss-making stores have turned profitable, validating the positive trend in store operations [3] - The company's core operating profit margin reached 5.9% in the first half of 2025, an increase of 1.2 percentage points year-on-year, while the net profit margin was also 5.9%, up 2.7 percentage points year-on-year [3] - The current valuation for 2025 is below 20 times earnings, and the company continues to be a key recommendation [3]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company has demonstrated confidence through multiple share buybacks, with a total of up to HKD 100 million planned for repurchase, reflecting management's commitment to shareholder returns [7] - The company is expected to open 1,000 new stores this year, capitalizing on the growing demand in lower-tier markets, with a strong performance in the first half of 2025 [7] - The company's operating capabilities have been validated, with a significant increase in profitability and a low valuation, making it a recommended investment [7] Financial Projections - Revenue projections for 2025-2027 are estimated at RMB 72.9 billion, RMB 83.9 billion, and RMB 95.5 billion, representing year-on-year growth of 13%, 15%, and 14% respectively [1] - The net profit attributable to the parent company is forecasted to be RMB 4.2 billion, RMB 5.0 billion, and RMB 5.8 billion for the same period, with growth rates of 81%, 19%, and 17% respectively [1] - The company's earnings per share (EPS) is projected to increase from RMB 0.15 in 2025 to RMB 0.21 in 2027 [1]

消息面上，锅圈发布公告，2025年9月25日，董事会作出决议，拟根据回购股份授权，自2025年9月26日 起至回购股份授权到期之日止，使用最多1亿港元于公开市场以自有资金进一步回购H股股份。公司每 次回购的每股H股的实际回购价比紧随每次回购前五个交易日内H股股份平均收市价溢价不得高于5%或 以上。根据回购股份授权进行回购的H股股份将可能会被注销或持作库存股份。 智通财经APP获悉，锅圈(02517)早盘涨超4%，截至发稿，涨3.76%，报3.32港元，成交额1799.09万港 元。 董事会认为，当前的股份成交价格并未充分反映公司的内在价值及业务前景，于现况下进行股份回购将 彰显公司及管理层团队对公司的业务发展前景及增长潜力充满信心，最终会为公司带来裨益并为股东创 造价值。 ...