Group 1 - The company Hongfuhuan (301086) announced the repurchase of 339,500 shares, accounting for 0.38% of its total share capital [1] - The highest transaction price during the repurchase was 61.20 CNY per share, while the lowest was 55.34 CNY per share [1] - The total amount spent on the repurchase reached 20.0098 million CNY, excluding transaction fees [1] Group 2 - The repurchase period was from August 14, 2024, to September 9, 2025 [1] - The repurchase amount has reached the lower limit of the planned repurchase fund total, and does not exceed the upper limit [1] - The repurchase has been completed as per the company's announcement [1]

Core Viewpoint - Hongfuhuan has established partnerships with major players in the server industry and ZTE for its liquid cooling products, while also gaining sample qualification from a major North American client [1] Group 1: Company Developments - Hongfuhuan primarily provides functional structural components for Apple products, with an expected increase in orders due to the launch of foldable smartphones next year [1] - The company's liquid cooling products focus on the network communication and server sectors, with key offerings including liquid cooling plate modules and comprehensive liquid cooling solutions [1] Group 2: Partnerships and Market Expansion - Domestically, Hongfuhuan has formed collaborations with ZTE and leading manufacturers in the server field [1] - Internationally, the company has secured sample qualification from a major North American client and is actively working on the introduction of related liquid cooling products [1]

Core Viewpoint - Hongfuhan (301086) focuses on liquid cooling products for the network communication and server sectors, highlighting its core products such as liquid cooling plate modules and comprehensive liquid cooling solutions [1] Group 1: Product Focus - The company’s liquid cooling products are primarily aimed at the network communication and server industries [1] - Current core products include liquid cooling plate modules and full-chain liquid cooling solutions [1] Group 2: Partnerships and Collaborations - Domestically, the company has established partnerships with ZTE and leading manufacturers in the server field [1] - Internationally, the company has obtained sample qualification from major North American clients and is actively working on the introduction of related liquid cooling products [1]

Core Viewpoint - In the first half of 2025, Hongfuhuan experienced revenue growth but a significant decline in net profit, attributed to market fluctuations and increased operational costs [2][3]. Group 1: Financial Performance - In the first half of 2025, Hongfuhuan achieved a revenue of 355.41 million yuan, representing a year-on-year increase of 9.37% [2] - The net profit attributable to shareholders was 22.73 million yuan, showing a year-on-year decrease of 52.41% [2] - The decline in profit is primarily due to market environment fluctuations, pressure on core product profitability, and increased fixed costs due to strategic investments [2] Group 2: Future Strategies - The company plans to focus on three key areas: enhancing technology and market collaboration, optimizing production efficiency, and deepening refined management [3] - Investment in liquid cooling technology will be increased, with efforts to expand into new markets like Thailand and Vietnam [3] - The goal is to improve production capacity utilization and reduce fixed costs through better production scheduling and resource management [3] Group 3: Business Insights from Q&A - The company primarily provides functional structural components for Apple products, with expectations of increased orders following the launch of foldable smartphones next year [4] - Liquid cooling products are targeted at the telecommunications and server sectors, with collaborations established with major clients like ZTE [4] - The company is optimistic about performance in the second half of the year, citing a peak season for consumer electronics and improved order fulfillment [4] - Various costs have risen due to business expansion, including sales and management expenses [4] - Strategic partnerships have been formed with Huawei for microgrid and related equipment [4] - The company has established production bases in multiple locations, including Shenzhen and overseas in the U.S., Vietnam, and Thailand, to meet customer demands [4] - Emphasis is placed on the role of AI technology in enhancing product offerings, particularly in cooling solutions for servers and wearable devices [4]

Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 355.41 million yuan, a year-on-year increase of 9.37% [2] - The net profit attributable to shareholders was 22.73 million yuan, a year-on-year decrease of 52.41% [2] - Operating costs increased by 20.64% year-on-year, driven by business scale expansion [6] - Sales expenses rose by 20.42% due to increased sales personnel compensation and market expansion efforts [6] - Management expenses increased by 26.66%, primarily due to higher salaries for new market management personnel and increased service fees [6] - Financial expenses surged by 247.56%, mainly due to reduced interest income and increased interest expenses [6] Group 2: Strategic Focus and Future Plans - The company plans to enhance technology research and market expansion, particularly in liquid cooling technology and new markets like Thailand and Vietnam [3] - Efforts will be made to optimize production efficiency and reduce fixed costs through better production scheduling and coordination [3] - The company aims to deepen refined management and improve resource allocation to enhance input-output efficiency [3] - Future growth will focus on expanding market share in the server cooling product sector and increasing customer acquisition [5] Group 3: Market and Product Development - The company provides functional structural components for Apple products, with expected order increases following the launch of new devices [4] - Liquid cooling products are focused on the network communication and server sectors, with partnerships established with major domestic and international clients [4][7] - The company has obtained sample qualification from major North American clients and is actively working on product integration [7] - New customer acquisitions include partnerships with major firms like Pegatron, Murata Group, Foxconn, Meta, and Amazon [5] Group 4: Operational Challenges - Profit decline is attributed to multiple factors, including market fluctuations and increased resource investments during strategic expansions [3] - The company is currently in a traditional peak season for consumer electronics, with saturated order levels expected to improve operational metrics [6] - The company is committed to addressing rising costs and optimizing its operational structure to enhance profitability [3][5]

Summary of Key Points Core Viewpoint - Hongfuhan (SZ 301086) announced a share buyback program, successfully repurchasing approximately 340,000 shares, which represents 0.38% of the total share capital, with a total transaction amount of approximately 20.01 million yuan [1]. Group 1: Share Buyback Details - The company conducted the buyback through a special securities account via centralized bidding [1]. - The highest transaction price was 61.2 yuan per share, while the lowest was 55.34 yuan per share [1]. - The buyback period was from August 14, 2024, to September 9, 2025, and the total amount has reached the lower limit of the buyback plan [1]. Group 2: Financial Performance - For the first half of 2025, the revenue composition of Hongfuhan was 95.04% from manufacturing and 4.96% from other businesses [1]. - As of the announcement, the market capitalization of Hongfuhan was 5.5 billion yuan [1].

Core Viewpoint - Hongfuhang (301086.SZ) has completed a share buyback program, repurchasing a total of 339,500 shares, which represents 0.38% of the company's total share capital, with a total transaction amount of 20.0098 million yuan [1] Summary by Relevant Sections - **Share Buyback Details** - The company repurchased shares through a special securities account via centralized bidding [1] - The highest transaction price was 61.20 yuan per share, while the lowest was 55.34 yuan per share [1] - The buyback period was from August 14, 2024, to September 9, 2025 [1] - **Financial Implications** - The total amount spent on the buyback reached the lower limit of the planned buyback fund, without exceeding the upper limit [1] - The total transaction amount for the buyback was 20.0098 million yuan, excluding transaction fees [1]

证券代码：301086 证券简称：鸿富瀚 公告编号：2025-061 深圳市鸿富瀚科技股份有限公司 关于回购股份实施完成暨股份变动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 深圳市鸿富瀚科技股份有限公司（以下简称"公司"）于2025年4月28日召开 第二届董事会第十三次会议、第二届监事会第十三次会议审议通过了《关于回购 公司股份方案的议案》，同意公司使用不低于人民币2,000万元（含）且不超过人 民币3,000万元（含）的自有资金或自筹资金，以集中竞价交易方式回购公司部分 已发行的人民币普通股（A股）股份，用于员工持股计划或者股权激励，回购股份 的价格不超过人民币62.00元/股（含），具体内容详见公司在巨潮资讯网 （www.cninfo.com.cn）披露的《关于回购公司股份方案的公告》（公告编号： 2025-021）、《回购股份报告书》（公告编号：2025-029）。 公司已取得中国建设银行股份有限公司深圳市分行出具的《承诺函》，承诺 为公司提供不超过人民币2,700万元的贷款专项用于公司回购股票。具体内容详见 公司于2025年5月16日在巨潮 ...

Group 1 - Shenzhen Hongfuhan Technology Co., Ltd. signed a cooperation agreement with Huawei Digital Energy to focus on creating a smart, efficient, and reliable green energy foundation globally [1] - The collaboration aims to reshape the microgrid system and develop resilient and competitive microgrid operations through intelligent microgrid solutions [1] - Hongfuhan has established itself as a "little giant" and a national high-tech enterprise, gaining partnerships with renowned manufacturers and component producers [1] Group 2 - Hongfuhan plans to enhance its technology research and market expansion, particularly in liquid cooling technology, while accelerating project implementation in emerging markets like Thailand and Vietnam [2] - The company aims to optimize production efficiency and management, transitioning towards a high-quality development phase that balances scale and efficiency [2] - Hongfuhan is committed to deepening collaborations with leading technology companies to become a top domestic and internationally recognized supplier [2]

Core Viewpoint - Hongfuhuan (301086) announced a share buyback plan, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Summary by Categories Share Buyback Details - As of August 31, 2025, the company has repurchased a total of 126,900 shares, representing 0.14% of its total share capital [1] - The highest price paid for the shares was 55.70 RMB per share, while the lowest price was 55.34 RMB per share [1] - The total amount spent on the buyback was 7,046,141.00 RMB, excluding transaction fees [1] Compliance and Regulations - The buyback is in accordance with the company's share repurchase plan and relevant laws and regulations [1]