据了解，此次拍卖源于广西平铝集团涉及的一桩合同纠纷案，因需清偿3.55亿元债务，其持有的北部湾 财险股权被列为执行标的。2025年年底，广西壮族自治区南宁市中级人民法院已对该股权组织过首次拍 卖，最终因无人问津流拍。目前，这部分6%的股权仍全部处于质押状态，若后续拍卖成交，广西平铝 集团将彻底退出北部湾财险股东行列。但记者注意到，本次于1月23日10点结束的二次拍卖，全程无投 资者报名。 类似事件并不少见，2025年保险行业股权转让案例超50宗，总金额超50亿元，多数司法拍卖即便多次下 调评估价、降低参与门槛，仍难以达成交易。例如，2018年以来，安诚财险多家股东转让所持部分或全 部股权，却屡遭流拍，有的甚至打7折仍难觅接盘方。幸福人寿3笔合计4.66亿股股权于2022年12月首次 流拍，2023年3月以评估价8折、合计3.14亿元二次拍卖，依旧无人竞价；股东拟清仓的16.59亿股股权， 也因市场冷淡而停滞。民生人寿自2020年以来已有17次股权挂牌记录，均以流拍收场。 股权流动性匮乏正成为中小险企发展路上的"拦路虎"，司法拍卖市场的冷淡表现尤为直观。记者从阿里 拍卖平台获悉，1月23日，广西平铝集团所持北部 ...

2025年12月29日，这1亿股股权首次在阿里资产平台公开拍卖，起拍价定为5.5134亿元，但最终因无人 出价而流拍。鉴于首次拍卖结果，南宁市中级人民法院于2026年1月启动二次拍卖，起拍价大幅下调 20%至4.41亿元，最终由首源欣荣以起拍价成功竞得。 买方首源欣荣的身份同样是本次交易的焦点。天眼查信息显示，首源欣荣是港股上市公司首程控股的全 资子公司，而首程控股与阳光保险存在紧密资本关联，阳光保险正是首程控股的战略股东之一，因此本 次交易构成典型的关联方接盘。 值得一提的是，此次拍卖标的为阳光保险境外上市前的未上市内资股，虽与H股同股同权、共享分红， 但流动性受限，无法在港股直接交易。以1月15日阳光保险港股收盘价4.18港元/股折合人民币3.73元计 算，此次成交价每股4.41元，溢价率达18%。中国企业资本联盟副理事长柏文喜在接受媒体采访时表 示，首程控股通过司法拍卖一次性受让股权，可避免二级市场增持带来的价格扰动，且市场对阳光保险 内资股全流通存在预期，这也构成了此次交易的结构性溢价基础。 行业估值分化加剧，中小险企股权处置遇冷 阿里资产司法拍卖网络平台信息显示，近日，广西远辰投资集团有限公司（以下 ...

智通财经APP讯，首程控股(00697)发布公告，于2026年1月26日该公司斥资328.9万港元回购160万股， 回购价格为每股2.03-2.10港元。 ...

格隆汇1月26日丨首程控股(00697.HK)公告，1月26日耗资328.9万港元回购160万股。 ...

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： 首程控股有限公司 呈交日期： 2026年1月26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 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00697 | 說明 | | | | | | | 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 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件 ...

[Table_Title] 研究报告 Research Report 25 Jan 2026 中国策略 China Strategy 春节红包行情蓄力稳行，科技与价值各有亮点 Spring Festival "Red Packet" Rally Builds Momentum Steadily, with Highlights in Both Tech and Value 周林泓 Amber Zhou 黄雨昕 Yuxin Huang 从本周表现看，大盘如期震荡休整，市场整体情绪有所降温之后更健康，半导体走势偏强，航天军工等方向短期 震荡调整之后再次回暖。 我们判断，春节红包行情仍将蓄力稳行。从结构来看依然聚焦"高科技+强周期"，具体而言： ——高科技方向的机会：一方面，可继续延着当前年报预告业绩超预期的方向，深挖半导体特别是存储、储能、 电网设备、化工、创新药等方向。另一方面根据十五五规划相关的产业引领，进一步聚焦掘金国防军工、国产算 力/芯片、太空算力、可控核聚变等领域龙头。 ——价值方向的机会：首先，继续持有黄金及相关权益资产。其次，在震荡中择机布局性价比高、基本面改善的 低位价值股机会，关注港股具有业绩 ...

首程控股(00697)公布，2026年1月23日耗资约125.03万港元回购60万股股份。 ...

智通财经APP讯，首程控股(00697)公布，2026年1月23日耗资约125.03万港元回购60万股股份。 ...

FF305 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00697 | 說明 | | | | | | 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 | | 庫存股份變動 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 (註4) | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2026年1月21日 | 8,303,774,573 | | 90,972,000 | | 8,394,746,573 | | 1). 購回股份 (股份被持作庫存股份) | | | -600,000 0.0072 % | 600,000 HKD | 2.0838 | | | 變動日期 2026年1月23日 | | | | | ...

Core Viewpoint - The robotics industry is transitioning from technological breakthroughs to large-scale applications, with Yushu Technology as a leading enterprise in the bipedal robot sector, attracting market attention for its IPO prospects. Shicheng Holdings, deeply invested in the robotics sector and synergizing with Yushu Technology, is not merely a financial investor but has established a robust ecosystem through a "full industry chain layout + multi-scenario implementation + commercial closed loop" strategy, which is becoming the core support for its value reassessment as Yushu approaches its IPO [1]. Full Industry Chain Layout - Shicheng Holdings has developed a comprehensive ecosystem that spans from upstream materials to downstream applications, providing systematic support for technology implementation. The company has established an advanced materials subsidiary focusing on key materials like electronic skin and lightweight PEEK, addressing critical performance and cost control issues for robotics [2]. - In the midstream, Shicheng has created a diversified enterprise matrix through strategic investments, including Yushu Technology and other leading firms, covering essential areas such as humanoid robot bodies and intelligent algorithms. The downstream focuses on integrating robotics technology with infrastructure and resources to promote practical applications [2]. Scene Implementation Breakthroughs - Shicheng Holdings has successfully commercialized robotics technology across multiple core sectors, creating replicable and scalable application models that serve as important market validation platforms for ecosystem companies like Yushu [3]. Smart Transportation - Shicheng collaborated with Wanxun Technology to establish China's first automated charging station for robots in Chengdu, which can autonomously identify vehicle types and connect to charging interfaces, covering over 90% of mainstream vehicle brands. This technology aims to create a "fully automated charging loop" [4]. Events and Consumer Recognition - At the 2025 Beijing Yizhuang Humanoid Robot Half Marathon, Shicheng's portfolio companies showcased their products, with Yushu's G1 humanoid robot completing the 21.0975 km course, setting three world records. This event demonstrated the practical capabilities of the technology [5]. - The "Tao Zhu New Creation Bureau" robot experience brand has opened three stores in key urban areas, providing immersive experiences and product sales, with plans to expand to over 20 stores in major cities within six months [5]. Intelligent Manufacturing - Shicheng signed a strategic cooperation agreement with Alter Group to promote the industrialization of "robot + automotive" applications, focusing on key technologies such as motion control and structural optimization [6][7]. Education and Healthcare - The company has initiated projects to integrate robotics into educational settings and has successfully completed complex surgeries using surgical robots in hospitals, demonstrating the practical value of robotics in everyday life [8]. Commercial Closed Loop - Shicheng has established a diversified monetization path through "channel distribution + scene operation + service value addition," creating independent profitability while sharing the growth benefits of ecosystem companies [8]. - The company has signed approximately 100 core agents in the robotics industry chain and plans to launch live broadcasts on platforms like Douyin and Video Number to enhance market communication [8]. Value Resonance - The IPO process of Yushu Technology and the operational capabilities of Shicheng Holdings create a strong value resonance, mutually enhancing each other's strengths. Shicheng's resources provide critical support for Yushu's market entry, while Yushu's IPO is expected to yield direct equity appreciation for Shicheng [9]. - Shicheng's established operational capabilities and service systems are independent of equity returns, allowing it to continue benefiting from the growth of the robotics industry even after Yushu's IPO [9]. Future Outlook - As the robotics industry enters a phase of practical application, Shicheng's comprehensive layout and successful implementations position it as a unique investment opportunity. The expansion of the "Tao Zhu New Creation Bureau" experience stores and the deepening of cross-industry collaborations are expected to continuously release commercial returns [10].