Core Viewpoint - Industrial Fulian has adjusted its share repurchase price ceiling from 19.36 yuan per share to 75.00 yuan per share, reflecting confidence in the company's future development and value recognition [2][4]. Group 1: Share Repurchase Plan - The company plans to use between 5 billion yuan and 10 billion yuan for share repurchase through centralized bidding, with an initial price ceiling of 20.00 yuan per share, later adjusted to 19.36 yuan per share after the 2024 annual equity distribution [4]. - As of now, Industrial Fulian has repurchased approximately 7.6974 million shares, with the highest repurchase price at 19.84 yuan per share and the lowest at 18.40 yuan per share, totaling around 147 million yuan in funds used [4]. Group 2: Stock Price Performance - Since reaching a peak on October 30, the company's stock price has seen a significant decline, dropping nearly 30% in November, with market capitalization falling from over 1.6 trillion yuan to 1.12 trillion yuan [5]. - On November 24, the stock hit a new low in two months, prompting investor inquiries about the company's repurchase plans and progress [5]. Group 3: Company Operations and Clarifications - The company confirmed that its fourth-quarter operations, including the shipment of products like GB200 and GB300, are proceeding as planned, with strong customer demand and no adjustments to profit targets [5]. - Industrial Fulian issued a clarification on November 24, denying rumors about lowering fourth-quarter performance targets and adjustments in major customer business models, stating that such claims are untrue [7].

Group 1 - The Ministry of Industry and Information Technology and five other departments issued a plan to enhance the adaptability of supply and demand for consumer goods, aiming for a significant optimization of the supply structure by 2027, with the formation of three trillion-level consumption fields and ten hundred-billion-level consumption hotspots [2] - The State Council Information Office will hold a press conference on November 27, 2025, to discuss policies related to enhancing the adaptability of supply and demand for consumer goods [2] - The National Development and Reform Commission will hold a news conference on November 27, 2025, to provide updates on relevant policies [2] Group 2 - Guangdong issued a plan to support enterprises in conducting industrial chain integration and mergers, aiming to enhance the competitive advantages of industrial clusters in the Guangdong-Hong Kong-Macao Greater Bay Area by 2027 [3] - The China Insurance Industry Association issued a risk warning regarding "Anwo Stock Insurance," clarifying that it is not an approved insurance institution and that stock investment losses are not covered by insurance [3] Group 3 - Changguang Huaxin has achieved mass production of 100G EML in the optical communication field, and 200G EML has begun sampling [5] - Shida Group noted that it has not engaged in business cooperation with Alibaba Cloud despite market rumors [6] - Jindike will not issue new quadrivalent influenza virus split vaccines this year [7] - Zhongshui Fishery reported no significant changes in its operating conditions and external environment [8] - Maoye Commercial is currently operating normally [9] - Industrial Fulian raised the upper limit for share repurchase to no more than 75 yuan per share [10] - China Iron and Steel's controlling shareholder plans to increase its stake in the company by 65 million to 130 million yuan [11] - Boda Pharmaceutical has not organized the production and sale of related influenza drugs, and it is expected that there will be no impact on the company's operating performance for a considerable period [11] - Muxi Co., Ltd. announced that the subscription date for its issuance is December 5 [11] - Pinming Technology may apply for a trading suspension if its stock continues to experience abnormal fluctuations [12]

Group 1 - Industrial Fulian adjusts the maximum repurchase price from 19.36 CNY to 75 CNY per share, which is 150% of the average trading price over the last 30 trading days [1] - The company has repurchased a total of 7.6974 million shares, using a total of 147 million CNY [1] - The adjustment aims to ensure the smooth implementation of the repurchase plan and complies with relevant laws and regulations [1] Group 2 - China International Capital Corporation (CICC) continues to suspend trading due to significant uncertainties related to its restructuring with Dongxing Securities and Xinda Securities [2] - The company is planning a share swap to absorb and merge with these two securities firms [2] Group 3 - Shida Group clarifies that it has not initiated any business cooperation with Alibaba Cloud, addressing rumors circulating on online platforms [3] Group 4 - Changguang Huaxin reports uncertainty regarding the sales and profit contributions of several optical communication chips for the current year [4] - The company has achieved mass production of its 100G EML and is in the sampling phase for its 200G EML, but there are risks associated with product development and market expansion [4] Group 5 - Muxi Co., Ltd. announces its initial public offering (IPO) on the Sci-Tech Innovation Board, with a planned issuance of 40.1 million shares [5] - The initial strategic placement is set at 8.02 million shares, with the subscription date on December 5, 2025 [5] Group 6 - Yidong Electronics plans to invest 61.2 million CNY to acquire a 51% stake in Shenzhen Guanding Metal Technology Co., Ltd., focusing on AI server liquid cooling products [6] Group 7 - Zhejiang Pharmaceutical is planning to spin off its subsidiary, Zhejiang Xima Biopharmaceutical Co., Ltd., for a listing on the Hong Kong Stock Exchange to enhance its drug biopharmaceutical segment [7] - The plan is still in the preliminary stages, and specific details are yet to be finalized [7] Group 8 - Meiyan Jixiang's subsidiary has received acceptance for its mineral resource reserve review application from the Ministry of Natural Resources [8] Group 9 - *ST Baoshi's major shareholder plans to increase its stake by up to 0.66%, amounting to no more than 7.515 million shares [9] - The increase will be funded through self-owned or raised funds, with a minimum investment of 21 million CNY [9] Group 10 - Debang Technology reports that the National Integrated Circuit Fund has reduced its stake by 2% from September 11 to October 16, totaling 2.8448 million shares [10] Group 11 - New Sharp Co., Ltd. announces that a shareholder intends to reduce its stake by up to 0.50%, equating to 126.22 million shares, due to personal financial needs [11] Group 12 - China Iron & Steel's major shareholder plans to increase its stake by 65 million to 130 million CNY within six months, having already acquired 596.92 million shares [12] Group 13 - Zhongchuang Co., Ltd. sets the inquiry transfer price at 25.75 CNY per share, with all shares fully subscribed by nine institutional investors [13] Group 14 - Guangdian Yuntong wins a bid for an artificial intelligence application pilot base construction project worth 308 million CNY [14] - Aolaide plans to raise up to 300 million CNY through a private placement for its OLED display core material production base project [14] Group 15 - Tianshan Aluminum announces that the first batch of electrolytic cells for its 1.4 million-ton green low-carbon energy efficiency improvement project has commenced operation [15] - The project aims to enhance the company's electrolytic aluminum production capacity and improve energy efficiency [14]

工业富联表示，鉴于公司股票价格持续高于原回购价格上限，基于对公司未来持续稳定发展的信心和对公司价值的认可，同时为了保障回购方案顺利实 施，公司董事会决定调整价格上限。 据公告，工业富联2025年4月30日召开2025年第一次临时股东大会审议通过《关于以集中竞价交易方式回购公司股份的议案》。公司拟使用自有资金不低 于5亿元（含）且不超过10亿元（含），以集中竞价交易方式进行股份回购，回购股份的价格不超过人民币20.00元/股，回购股份实施期限自公司股东大 会审议通过回购股份方案之日起不超过12个月。 因公司实施2024年年度权益分派，上述股份回购价格上限由不超过人民币20.00元/股调整为不超过人民币19.36元/股，调整后的回购价格上限于2025年7月 31日起生效。 截至目前，工业富联已累计回购股份约769.74万股，回购最高价格为19.84元/股，回购最低价格为18.40元/股，使用资金总额约1.47亿元。 11月26日晚，工业富联（601138）公告，公司将回购股份价格上限从不超过19.36元/股调整为不超过75.00元/股。该价格不高于董事会审议通过《关于调整 回购股份价格上限的议案》决议前30个交易 ...

Suspension and Resumption - China International Capital Corporation (CICC) is continuing its suspension of trading due to planning a major asset restructuring [1] - Pinming Technology may apply for a trading suspension for verification if its stock continues to experience abnormal fluctuations [1] Mergers and Acquisitions - Hainan Highway's wholly-owned subsidiary plans to acquire 51% equity in Hainan Huate, which specializes in asphalt storage and processing, providing stable supply chain support for transportation materials post-acquisition [2] - Yidong Electronics intends to invest 61.2 million yuan to acquire 51% equity in Shenzhen Guanding, aiming to further develop products and businesses in AI server liquid cooling [2] - Huafeng Aluminum plans to acquire 100% equity in Huafeng Puen for 100 million yuan, which will support the launch and scale expansion of new businesses such as stamping parts and new alloy materials [2] Share Buybacks and Increases - China Railway Materials' controlling shareholder plans to increase its stake in the company by 65 million to 130 million yuan [3] - Industrial Fulian has adjusted its share repurchase price ceiling from no more than 19.36 yuan per share to no more than 75 yuan per share [4] Investment Cooperation and Operational Status - Wanbangde's subsidiary has obtained a drug registration certificate for the imported product, sildenafil citrate oral suspension [5] - Aolaide plans to raise no more than 300 million yuan through a private placement to fund the production base project for OLED display core materials [6] - Century Huatong's games launched in 2023 are still reaching new highs, with no observed peak in their lifecycle; the game "Bengben Kingdom" is progressing slowly domestically, while "Kingshot" is breaking records overseas [6] - Weichai Power has reached intention cooperation for SOFC business with several leading domestic and international companies, with data center market sales growing over three times in the first three quarters [6] - Dongwei Technology's PCB plating equipment orders have surged due to rapid development in PCB and memory sectors, with expected order amounts reaching a historical high this year [7] - Longjing Environmental Protection currently has a full order book for energy storage cells, with production schedules extending to June 2026 [7]

工业富联（601138）(601138.SH)发布公告，鉴于公司股票价格上涨造成回购股份价格上限低于公司二 级市场股价，基于对公司未来持续稳定发展的信心和对公司价值的认可，同时为了保障本次回购股份方 案的顺利实施，公司将回购股份价格上限调整为不超过75元/股。 ...

格隆汇11月26日丨工业富联(601138.SH)公布，截至本公告披露日，公司通过上海证券交易所交易系统 以集中竞价交易方式累计回购公司股份7,697,400股，占公司目前总股本0.04%，回购最高价格人民币 19.84元/股，回购最低价格人民币18.40元/股，使用资金总额人民币147,089,384.00元（不含交易佣金、 过户费等交易费用）。上述回购股份情况符合法律法规的规定及公司回购股份方案。 鉴于公司股票价格上涨造成回购股份价格上限低于公司二级市场股价，基于对公司未来持续稳定发展的 信心和对公司价值的认可，同时为了保障本次回购股份方案的顺利实施，公司将回购股份价格上限调整 为不超过人民币75.00元/股，该价格不高于董事会审议通过《关于调整回购股份价格上限的议案》决议 前30个交易日公司股票交易均价的150%。本次除调整回购股份价格上限外，公司以集中竞价交易方式 回购公司股份的其他事项均无变化。具体回购数量及回购金额以本次回购完毕或回购实施期限届满时公 司的实际回购情况为准。 ...

人民财讯11月26日电，工业富联（601138）11月26日公告，鉴于公司股票价格上涨造成回购股份价格上 限低于公司二级市场股价，为了保障本次回购股份方案的顺利实施，公司将回购股份价格上限调整为不 超过人民币75元/股。本次除调整回购股份价格上限外，公司以集中竞价交易方式回购公司股份的其他 事项均无变化。调整前回购价格上限：不超过19.36元/股。 ...

Core Viewpoint - Industrial Fulian has announced an adjustment to its share repurchase plan, raising the maximum repurchase price to 75 yuan per share, reflecting confidence in the company's future development and value recognition [1] Group 1: Share Repurchase Plan - The company has spent 147 million yuan to repurchase 7.6974 million shares to date [1] - The adjustment in the repurchase price is due to the company's stock price consistently exceeding the original repurchase price limit [1] - Over the past three years, the company has invested nearly 1.7 billion yuan in share repurchases, with a notable 200-300 million yuan cancellation repurchase plan launched in July 2024 [1] Group 2: Dividend Distribution - The company has proposed a cash dividend plan of 6.55 billion yuan for the first half of 2025, which has been approved by the shareholders' meeting [1] - To date, the company has completed seven cash dividend distributions, totaling 56.54 billion yuan, maintaining its position as the top dividend payer in the A-share electronics industry [1]

证券代码：601138 证券简称：工业富联 公告编号：临 2025-084 号 富士康工业互联网股份有限公司 第三届董事会第二十九次会议决议公告 一、关于调整回购股份价格上限的议案 议案表决情况：有效表决票 7 票，同意 7 票，反对 0 票，弃权 0 票。 鉴于公司股票价格上涨造成回购股份价格上限低于公司二级市场股价，基于对公 司未来持续稳定发展的信心和对公司价值的认可，同时为了保障本次回购股份方案的 顺利实施，公司将回购股份价格上限调整为不超过人民币 75.00 元/股，该价格不高于 董事会审议通过《关于调整回购股份价格上限的议案》决议前 30 个交易日公司股票 交易均价的 150%。本次除调整回购股份价格上限外，回购股份方案的其他内容不变。 具体回购数量及回购金额以本次回购完毕或回购实施期限届满时公司的实际回购情 况为准。 具体内容详见公司于上海证券交易所网站（www.sse.com.cn）及指定媒体披露的 《富士康工业互联网股份有限公司关于调整回购股份价格上限的公告》（公告编号： 临 2025-085 号）。 特此公告。 富士康工业互联网股份有限公司董事会 二〇二五年十一月二十七日 本公司董事会及全体 ...