Core Insights - MSCI has included Lianyi Rong (09959.HK) in its China Index for the first time, indicating strong recognition of the company's value and growth potential in the international capital market [1] - The inclusion of Lianyi Rong among 26 new stocks in the MSCI China Index highlights its representative position in the supply chain finance technology sector [1] - DBS Bank has released a report expressing optimism about Lianyi Rong's growth potential, particularly in the digital asset space, which is seen as a significant growth catalyst [2] Company Overview - Lianyi Rong has focused on supply chain financial technology since its establishment in 2016, utilizing advanced technologies such as AI, blockchain, and cloud computing to create a cloud-native supply chain financial solution [2] - The company was listed on the Hong Kong Stock Exchange in April 2021, becoming the first publicly traded company in China's supply chain financial technology SaaS industry [2] - As of mid-2025, Lianyi Rong has served supply chain assets exceeding 17 trillion RMB, collaborating with over 2,900 core enterprises and financial institutions, and has empowered more than 380,000 SMEs globally [3] Market Position and Future Outlook - Lianyi Rong's investment value is gaining attention from global markets due to positive expectations from international institutions and its recent index inclusion [3] - The company aims to continue leveraging technological innovation to enhance its service offerings for SMEs and contribute to the high-quality development of China's supply chain finance industry [3]

智通财经APP讯，联易融科技-W(09959)公布，2025年11月6日耗资约747.45万港元回购238万股股份。 ...

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： 聯易融科技集團（於開曼群島註冊成立以不同投票權控制的有限公司) 呈交日期： 2025年11月6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 | | 不同投票權架構公司普通股 | 股份類別 B | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 09959 | | 說明 普通股 | | | | | | | 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 | ...

Core Viewpoint - The company, Lianyi Rong Technology-W, has been actively repurchasing its shares on the Hong Kong Stock Exchange, indicating a strategy to support its stock price amidst a declining market trend [1]. Share Buyback Summary - On November 5, the company repurchased 2.42 million shares at a price range of HKD 2.960 to HKD 3.160, totaling HKD 7.4481 million [1]. - The stock closed at HKD 3.120 on the same day, reflecting a decrease of 1.89% with a total trading volume of HKD 27.5907 million [1]. - Since September 11, the company has conducted buybacks for 37 consecutive days, acquiring a total of 78.6745 million shares for a cumulative amount of HKD 255 million [1]. - During this period, the stock has seen a total decline of 2.19% [1]. - Year-to-date, the company has executed 45 buybacks, totaling 90.4925 million shares and an aggregate buyback amount of HKD 285 million [1]. Detailed Buyback Data - The buyback details include various dates, number of shares repurchased, highest and lowest prices, and total amounts spent, showcasing a consistent effort to stabilize the stock price [2].

联易融科技-W(09959)发布公告，该公司于2025年11月5日斥资744.81万港元回购242万股股份，每股回 购价格为2.96-3.16港元。 ...

智通财经APP讯，联易融科技-W(09959)发布公告，该公司于2025年11月5日斥资744.81万港元回购242万 股股份，每股回购价格为2.96-3.16港元。 ...

格隆汇11月5日丨联易融科技-W(09959.HK)发布公告，2025年11月5日耗资744.81万港元回购242万股， 回购价格每股2.96-3.16港元。 ...

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： 聯易融科技集團（於開曼群島註冊成立以不同投票權控制的有限公司) 呈交日期： 2025年11月5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 | | 不同投票權架構公司普通股 | 股份類別 B | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | | 09959 | 說明 普通股 | | | | | | | 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 | | | ...

Summary of Key Points Core Viewpoint - On November 4, 38 Hong Kong-listed companies conducted share buybacks, totaling 62.68 million shares and an aggregate amount of HKD 294 million [1][2]. Group 1: Buyback Details - China Feihe repurchased 18 million shares for HKD 76.11 million, with a highest price of HKD 4.260 and a lowest price of HKD 4.210, bringing its total buyback amount for the year to HKD 233 million [1][2]. - COSCO Shipping Holdings repurchased 4.5 million shares for HKD 61.70 million, with a highest price of HKD 13.960 and a lowest price of HKD 13.600, accumulating a total buyback amount of HKD 45.30 billion for the year [1][2]. - Pacific Shipping repurchased 10 million shares for HKD 26.09 million, with a highest price of HKD 2.640 and a lowest price of HKD 2.580, totaling HKD 22.91 million in buybacks for the year [1][2]. Group 2: Notable Companies - The largest buyback amount on November 4 was by China Feihe at HKD 76.11 million, followed by COSCO Shipping Holdings at HKD 61.70 million [1][2]. - In terms of share quantity, China Feihe led with 18 million shares repurchased, followed by Pacific Shipping with 10 million shares and Sinopec with 5.15 million shares [1][2]. - Noteworthy is that companies like Fenbi and Taimei Medical Technology conducted their first buybacks of the year on this date [2].

Core Viewpoint - CICC maintains the profit forecast for Lianyi Rong Technology-W (09959) for 2025 and 2026, adjusting the target price upward by 77% to HKD 3.6, reflecting a strategic breakthrough and business structure optimization [1] Company Status - As of Q3 2025, the number of core enterprise/financial institution partners increased by 30% and 7% year-to-date to 2,798 and 405 respectively, while the number of revenue-generating clients rose by 40% and 4% to 1,346 and 152 respectively, with a customer retention rate up by 3 percentage points to 99% [2] - The total asset processing scale for the first three quarters of 2025 increased by 28% year-on-year to CNY 336.2 billion, with Q3 2025 transaction volume up by 30% year-on-year and 28% quarter-on-quarter to CNY 132.6 billion, marking a record high for the first three quarters [2] Business Growth - Direct financing business transaction volume for the first three quarters of 2025 increased by 44% year-on-year to CNY 252.3 billion, with Q3 2025 transaction volume up by 54% year-on-year and 17% quarter-on-quarter, driven by the focus on key industries and innovative financial solutions [3] - Asset securitization business transaction volume for the first three quarters of 2025 was CNY 77 billion, with Q3 2025 showing a 77% quarter-on-quarter increase to CNY 37.5 billion, benefiting from deepening penetration in the infrastructure sector [3] - Cross-border cloud transaction volume for the first three quarters of 2025 was CNY 6.8 billion, with the company undergoing a rebranding of its international business in early October, which is expected to provide long-term growth momentum [3] Strategic Developments - The company successfully won a bid for a large central enterprise's Web 3.0-based supply chain finance platform project in Q3 2025, indicating potential breakthroughs in the Web 3.0 trade finance sector [4] - The company is steadily advancing its share repurchase plan, reflecting a commitment to shareholder returns and management's confidence in future development [4]