Core Insights - On October 16, 17 companies announced a total of 17 stock repurchase updates, indicating a significant activity in the market [1] Group 1: First Disclosure of Repurchase Plans - Three companies disclosed their stock repurchase plans for the first time, with proposed repurchase amounts of up to 400 million yuan, 150 million yuan, and 100 million yuan respectively for Hengmingda, Qizhong Technology, and Kangchen Pharmaceutical [1] Group 2: Approval of Repurchase Plans by Shareholders - Five companies had their repurchase plans approved by shareholder meetings, with the highest proposed repurchase amounts being 150 million yuan for Fenghuo Communication, 70 million yuan for Shaanxi Jinye, and 10 million yuan for Youkede-W [1] Group 3: Progress of Implemented Repurchase Plans - Four companies reported on the progress of their repurchase plans, with the highest repurchase amounts being 37.86 million yuan for Jiuan Medical, 11.19 million yuan for Intercontinental Oil and Gas, and 3.09 million yuan for Jiansheng Group [1] Group 4: Completed Repurchase Plans - Five companies completed their repurchase plans, with the highest completed amounts being 797 million yuan for Zhongwei Co., 200 million yuan for Shuangta Food, and 7.5177 million yuan for Shapais [1]

Core Points - The stock of Qizhong Technology (688352) closed at 13.54 yuan on October 15, 2025, marking a 1.42% increase from the previous trading day, with a total market capitalization of 16.1 billion yuan [1] - The company announced an adjustment to the maximum repurchase price of its shares following the implementation of the 2025 semi-annual profit distribution, reducing the maximum repurchase price from 16.61 yuan to 16.56 yuan per share [1] - The repurchase plan, approved on June 18, 2025, allows for a repurchase amount between 75 million yuan and 150 million yuan, with an estimated repurchase quantity of 4.529 million to 9.058 million shares, representing 0.38% to 0.76% of the total share capital [1]

Core Points - The company, Qizhong Technology, announced an adjustment to its share repurchase price limit, reducing it from RMB 16.61 per share (including tax) to RMB 16.56 per share (including tax) [2] - The new share repurchase price limit will take effect starting from October 22, 2025 [2] Summary by Category Company Actions - Qizhong Technology has officially announced a change in its share repurchase price limit [2] - The previous price limit was set at RMB 16.61 per share, which has now been lowered to RMB 16.56 per share [2] Timeline - The adjustment in the share repurchase price limit will commence on October 22, 2025 [2]

Group 1 - The company announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 0.5 yuan per 10 shares (including tax) [2] - The record date for the dividend is set for October 21, 2025, and the ex-dividend date is October 22, 2025 [2]

Core Viewpoint - Hefei Qizhong Technology Co., Ltd. has announced an adjustment to the upper limit of its share repurchase price from RMB 16.61 per share to RMB 16.56 per share, effective from October 22, 2025 [1][3]. Group 1: Share Repurchase Overview - On June 18, 2025, the company’s board approved a plan to repurchase shares through centralized bidding, with a repurchase amount between RMB 75 million and RMB 150 million [2]. - The initial upper limit for the repurchase price was set at RMB 16.61 per share, with a repurchase period of 12 months from the board's approval [2]. Group 2: Reason for Price Adjustment - The adjustment in the repurchase price is due to the company's profit distribution for the first half of 2025, which includes a cash dividend of RMB 59,016,140.25 [3]. - The record date for the dividend is October 21, 2025, and the ex-dividend date is October 22, 2025 [3]. Group 3: Specifics of the Adjustment Calculation - The formula for adjusting the repurchase price is based on the cash dividend per share and the change in circulating shares, resulting in a new upper limit of RMB 16.56 per share [4]. - The repurchase quantity is estimated to be between 4.529 million and 9.058 million shares, representing 0.38% to 0.76% of the total share capital [4]. Group 4: Other Matters - Aside from the adjustment in the repurchase price, all other aspects of the share repurchase plan remain unchanged, and the company will comply with disclosure obligations during the repurchase period [5].

证券代码：688352 证券简称：颀中科技 公告编号：2025-055 合肥颀中科技股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 一、回购股份的基本情况 合肥颀中科技股份有限公司（以下简称"公司"）于 2025 年 6 月 18 日召 开第二届董事会第五次会议，审议通过了《关于公司以集中竞价交易方式回购 公司股份方案的议案》，同意公司使用超募资金、自有资金及股票回购专项贷 款资金通过上海证券交易所交易系统以集中竞价交易方式回购公司已发行的 部分人民币普通股（A 股）股票。本次回购价格不超过人民币 16.61 元/股（含 税），回购股份期限为自公司董事会审议通过本次回购方案之日起 12 个月内。 回购股份金额不低于人民币 7,500 万元（含），不超过人民币 15,000 万元（含）。 具体内容详见公司披露于上海证券交易所网站（www.sse.com.cn）的《合肥颀 中科技股份有限公司关于以集中竞价交易方式回购公司股份方案的公告》（公 告编号：2025-028）、《合肥颀中科技股份有限公司关 ...

中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐人"）作 为合肥颀中科技股份有限公司（以下简称"颀中科技"或"公司"）首次公开发 行股票并在科创板上市的保荐人，根据《上海证券交易所科创板股票上市规则》 《证券发行上市保荐业务管理办法》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等有关法律法规和规范性文件的要求，对颀中科技 2025 年 半年度利润分配涉及的差异化分红事项进行了核查，并发表核查意见如下： 一、本次实施差异化权益分派的原因 中信建投证券股份有限公司 关于合肥颀中科技股份有限公司 差异化分红事项的核查意见 2025 年 6 月 18 日，公司召开第二届董事会第五次会议，审议通过了《关于 公司以集中竞价交易方式回购公司股份方案的议案》，同意公司使用超募资金、 自有资金及股票回购专项贷款资金通过上海证券交易所交易系统以集中竞价交 易方式回购公司已发行的部分人民币普通股（A 股）股票。本次回购价格不超过 人民币 16.61 元/股（含税），回购股份期限为自公司董事会审议通过本次回购方 案之日起 12 个月内。回购股份金额不低于人民币 7,500 万元（含），不超过人民 币 15, ...

中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 电话：（86-10）5809 1000 传真：（86-10）5809 1100 北京市竞天公诚律师事务所 关于合肥颀中科技股份有限公司 2025 年半年度差异化分红事项的 法律意见书 致：合肥颀中科技股份有限公司 为出具本法律意见书之目的，本所律师对公司提供的、本所律师认为出具本 法律意见书所需的文件进行了法律审查，并就公司本次差异化分红相关事项向有 关管理人员作了询问或与之进行了必要的讨论。 本所律师依据本法律意见书出具日为止中国现行有效的法律、法规和规范性 文件，以及对公司本次差异化分红所涉及的有关事实的了解发表法律意见。 本所律师对本法律意见书的出具特作如下声明： 1、本法律意见书是根据本法律意见书出具之日以前已经发生或已经存在的 有关事实和中国现行法律、法规和规范性文件，并且是基于本所对有关事实的了 解和对有关法律、法规和规范性文件的理解作出的，对于出具法律意见书至关重 要而无法得到独立证据支持的事实，本所依赖于有关政府部门、公司或者其他有 关单位出具的证明文件和口头确认； 2、本所及经办律师声明，截至本法律意见 ...

证券代码：688352 证券简称：颀中科技 公告编号：2025-054 合肥颀中科技股份有限公司 2025年半年度权益分派实施公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 每股现金红利0.05元 相关日期 司回购专用证券账户中的股份将不参与公司本次利润分配。 3. 差异化分红送转方案： | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/10/21 | 2025/10/22 | 2025/10/22 | 一、 通过分配方案的股东会届次和日期 本次利润分配方案经合肥颀中科技股份有限公司（以下简称"公司"）2025 年 9 月 16 日的2025年第一次临时股东大会审议通过。 二、 分配方案 1. 发放年度：2025年半年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 根据《上海证券交易所上市公司自律监管指引第 7 号——回购股份 ...

1. Report Industry Investment Rating No information about the industry investment rating is provided in the report. 2. Core Viewpoints of the Report - Since August, the pace of changes in the supply - demand structure of the convertible bond market has accelerated. On the demand side, insurance funds have rapidly and significantly reduced their holdings of convertible bonds, while the demand from public funds has remained stable. On the supply side, although the number of forced redemptions has increased significantly since August, the enthusiasm for new convertible bond proposals has been high, and the review speed has marginally accelerated [1][10][14]. - The A - share market fluctuated sharply this week. The current A - share market valuation has significantly recovered. Large - scale equipment renewal and consumer product trade - in measures are expected to boost domestic demand, and the export growth rate may decline. The Fed has re - entered the interest rate cut cycle, and the weak resonance between the domestic economic fundamentals and the capital side is expected to gradually start [27]. - Considering the impact of refinancing policies, the subsequent issuance pressure of convertible bonds is expected to be low. The risk of a correction in convertible bond valuations has been temporarily alleviated. However, in the context of stock market volatility and the strong "taking - profits" sentiment of institutions in the fourth quarter, the short - term profit - making effect of the convertible bond market may be weak. Attention should be paid to the band - trading opportunities of convertible bonds in a volatile market [28]. 3. Summary According to the Directory 1. Convertible Bond Weekly Special Topic and Outlook 1.1 What are the Highlights of New Convertible Bond Issues? - Since August, the demand - side of the convertible bond market has seen insurance funds significantly reducing their holdings, while public funds have increased their positions. On the supply - side, new convertible bond proposals have been actively submitted, and the review speed has accelerated. For example, in August, 18 new convertible bond proposals passed the board of directors, reaching the level of March 2023. In September, 17 proposals passed the general meeting of shareholders, and 7 passed the listing committee review, reaching the level of January 2024 [1][10][14]. - As of October 10, there are 4 convertible bond proposals awaiting issuance after obtaining the CSRC's approval for registration, and 8 public convertible bond proposals have passed the listing committee review, with a total scale of 530.5 million yuan. The industry distribution of these convertible bonds is mainly in TMT, advanced manufacturing, and cyclical industries [15][20]. 1.2 Weekly Review and Market Outlook - This week, the A - share market fluctuated sharply. Before the holiday, the A - share market rose, with the new energy industry chain and semiconductors leading the gains. After the holiday, the market first rose and then fell. The current A - share market valuation has recovered, and domestic demand is expected to be boosted, but the export growth rate may decline [27]. - In the convertible bond market, the subsequent issuance pressure is expected to be low. The short - term profit - making effect may be weak, and attention should be paid to band - trading opportunities. Industries to focus on include popular themes such as semiconductors and AI, domestic - demand - oriented sectors, and central state - owned enterprises under the China - specific valuation system [28][29]. 2. Weekly Tracking of the Convertible Bond Market 2.1 The Equity Market Style is Differentiated, and Pro - cyclical Sectors are Strengthening - From September 29 to October 10, the equity market showed mixed performance. The market style was more inclined to large - cap growth stocks. 26 Shenwan industry indices rose, and 5 declined. The non - ferrous metals, steel, and basic chemical industries led the gains [32][34]. 2.2 The Convertible Bond Market Rose Narrowly, and the Premium Rate for 100 - yuan Par Value Rebounded - From September 29 to October 10, the convertible bond market rose. The average daily trading volume decreased. Most individual bonds rose. The non - ferrous metals, beauty care, and non - bank financial industries led the gains in the convertible bond market, while the communication industry declined [38][39]. - The weighted conversion value of the entire market increased, and the premium rate rose. The median price of convertible bonds increased, and the number of medium - and low - priced convertible bonds decreased [45][49]. 2.3 High - frequency Tracking of Different Types of Convertible Bonds 2.3.1 Classification Valuation Changes - This week, the valuations of equity - biased and balanced convertible bonds increased. Among different par - value convertible bonds, the valuation of 80 - 90 yuan par - value convertible bonds increased more significantly. The valuations of AA + and AA - rated convertible bonds decreased, while those of other ratings increased. The valuations of large - cap and small - cap convertible bonds increased significantly, while those of other scales decreased [60]. - Since the beginning of 2024, the conversion premium rates of equity - biased and balanced convertible bonds have rebounded from the bottom [60]. 2.3.2 Market Index Performance - This week, convertible bonds of all ratings and scales rose. Since 2023, high - rated AAA convertible bonds have shown stable performance, while low - rated convertible bonds have shown weaker anti - decline ability and greater rebound strength [71]. 3. Tracking of Convertible Bond Supply and Terms 3.1 This Week's Primary Proposals Issuance - This week, there were no newly listed convertible bonds, and there were 3 convertible bonds awaiting listing, with a total scale of 730.2 million yuan. The number of primary approvals was 10 [76]. - From the beginning of 2023 to October 10, 2025, there were 103 convertible bond proposals in total, with a total scale of 15.8329 billion yuan. The number and scale of proposals at different stages vary [77]. 3.2 Downward Revision & Redemption Clauses - This week, 9 convertible bonds were expected to trigger downward revisions, 4 announced no downward revisions, 0 proposed downward revisions, and 1 actually carried out a downward revision. Six convertible bonds were expected to trigger redemptions, 0 announced no redemptemptempt 0 announced no redemptions, and 5 announced early redemptions [5][83][84]. - As of the end of this week, there were 0 convertible bonds in the put - option declaration period and 9 in the company's capital - reduction repayment declaration period [88].