FII(SH:601138) Nan Fang Du Shi Bao·2025-11-27 06:56Core Viewpoint - The company has adjusted its share repurchase plan, raising the maximum repurchase price from 19.36 CNY to 75 CNY per share, an increase of 287.4% [1][3]. Group 1: Share Repurchase Plan - The company initially announced a plan to repurchase shares using self-owned funds between 5 billion CNY and 10 billion CNY, with a maximum repurchase price of 20.00 CNY per share [1]. - The maximum repurchase price was later adjusted to 19.36 CNY due to the company's 2024 annual equity distribution [1]. - As of now, the company has repurchased approximately 7.6974 million shares, with a total expenditure of about 1.47 billion CNY [1]. Group 2: Stock Performance - The company's stock price has shown strong performance, reaching 61.66 CNY per share as of November 27, with a market capitalization of 1.224966 trillion CNY [4]. - The stock price has increased over 200% from the initial repurchase price limit of 19.36 CNY [4]. - However, the stock experienced significant volatility, with a nearly 30% decline since reaching a historical high at the end of October [4]. Group 3: Financial Performance - For the first three quarters of the year, the company reported a revenue of 603.931 billion CNY, a year-on-year increase of 38.4%, and a net profit attributable to shareholders of 22.487 billion CNY, up 48.52% year-on-year [4]. - The third quarter alone saw record revenue of 243.172 billion CNY and net profit of 10.373 billion CNY [4]. Group 4: Cash Flow Situation - The company's cash flow situation is under short-term pressure, with a net cash flow from operating activities of -4.14 billion CNY for the first three quarters, a significant decline due to large-scale inventory buildup to meet strong demand in the AI server market [5].