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： 百融雲創 (於開曼群島註冊成立以不同投票權控制的有限公司) 呈交日期： 2025年12月4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 。 FF305 | 13). | 購回以作註銷但尚未註銷之股份 | | 248,500 | % | HKD | 8.0163 | | --- | --- | --- | --- | --- | --- | --- | | | 變動日期 | 2025年6月2日 | | | | | | 14). | 購回以作註銷但尚未註銷之股份 | | 362,500 | % | HKD | 8.1491 | | | 變動日期 | 2025年6月6日 | | | | | | 第一章節 | | | | | | | | | - ...

百融云-W回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.12.03 | 33.60 | 9.680 | 9.430 | 321.15 | | 2025.06.06 | 36.25 | 8.200 | 8.050 | 295.41 | | 2025.06.02 | 24.85 | 8.200 | 7.660 | 199.21 | | 2025.05.28 | 11.30 | 7.820 | 7.750 | 88.10 | | 2025.05.26 | 37.95 | 8.050 | 7.800 | 299.19 | | 2025.05.23 | 12.40 | 8.140 | 7.970 | 99.74 | | 2025.05.20 | 21.30 | 8.040 | 7.660 | 166.54 | | 2025.05.19 | 51.70 | 7.980 | 7.540 | 396.87 | | 2025.05.08 | 24.00 | 8.270 | 8.0 ...

Investment Rating - The report assigns a rating of "Buy" for the company, with a target price of HKD 3.91, corresponding to a 20x P/E for 2025 [7][11]. Core Insights - The company is expected to maintain high growth in performance due to an increase in the proportion of used car financing, a successful transition to a light asset model driving SaaS business growth, and the application of AI in the automotive industry [3][11]. - The company’s used car financing transactions reached 235,000 in Q3 2025, a year-on-year increase of 22.6%, with financing amounts totaling CNY 21.2 billion, and used car credit growth of 51.3% to CNY 12.1 billion, increasing its share to 56.9% [11]. - The SaaS business facilitated financing of CNY 11.4 billion in Q3 2025, a 102% year-on-year increase, contributing 53.7% to total financing [11]. - The company is expected to see continued improvement in performance in the second half of 2025, with AI products like "X Call" enhancing efficiency in credit applications and customer management [11]. Financial Summary - Total revenue projections for 2025-2027 are CNY 115.99 billion, CNY 129.40 billion, and CNY 144.39 billion, representing year-on-year growth of 17%, 12%, and 12% respectively [11]. - Net profit estimates for the same period are CNY 11.86 billion, CNY 14.59 billion, and CNY 18.16 billion, with growth rates of 46%, 23%, and 24% respectively [11]. - The company’s P/E ratios are projected to be 6.55 for 2024, increasing to 15.36 in 2025, and then decreasing to 10.03 by 2027 [11].

格隆汇12月3日丨百融云-W(06608.HK)公告，12月3日耗资321.2万港元回购33.6万股。 ...

智通财经APP讯，百融云-W(06608)发布公告，于2025年12月3日斥资321.15万港元回购33.6万股。 ...

FF305 第 2 頁 共 8 頁 v 1.3.0 | 1). | 購回以作註銷但尚未註銷之股份 | | 259,000 | % | HKD | 7.5622 | | --- | --- | --- | --- | --- | --- | --- | | | 變動日期 2025年4月28日 | | | | | | | 2). | 購回以作註銷但尚未註銷之股份 | | 263,500 | % | HKD | 7.5799 | | | 變動日期 2025年4月29日 | | | | | | | 3). | 購回以作註銷但尚未註銷之股份 | | 4,000 | % | HKD | 7.76 | | | 變動日期 2025年4月30日 | | | | | | | 4). | 購回以作註銷但尚未註銷之股份 | | 50,000 | % | HKD | 7.8246 | | | 變動日期 | 2025年5月2日 | | | | | | 5). | 購回以作註銷但尚未註銷之股份 | | 251,500 | % | HKD | 7.9262 | | | 變動日期 | 2025年5月6日 | | | | | | 6). | 購 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 百融雲創 (於開曼群島註冊成立以不同投票權控制的有限公司） 呈交日期: 2025年12月3日 I. 法定/註冊股本變動 FF301 第 2 頁 共 10 頁 v 1.1.1 | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | B | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06608 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.00002 | USD | | 40,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | 0 | | 本月底結存 | | ...

Core Viewpoint - Bairong Cloud-W (06608) announced a share buyback plan worth up to HKD 450 million, reflecting the company's confidence in its business outlook and potential to create value for shareholders [1] Group 1: Share Buyback Announcement - The company plans to repurchase shares valued at no more than HKD 450 million [1] - The board believes that the share buyback will demonstrate confidence in the company's business prospects [1] - The company has sufficient financial resources to support the buyback while maintaining a stable financial position [1] Group 2: Market Reaction - Bairong Cloud's stock rose over 4% in early trading and was up 2.49% at HKD 9.45 at the time of reporting [1] - The trading volume reached HKD 1.851 million [1]

Major Events - 加科思-B (01167) published data on KRAS G12C and SHP2 combination therapy in The Lancet Respiratory Medicine [1] - 励晶太平洋 (00575) announced strategic entry into the US market by Deep Longevity in Q1 2026 [1] - 和誉-B (02256) received FDA approval for IND application of oral small molecule KRAS G12D inhibitor ABSK141 [1] - 中国生物制药 (01177) completed the first patient enrollment in Phase I clinical trial for its self-developed innovative drug TRD208 in China [1] - 天图投资 (01973) plans to sell 45.22% stake in 优诺中国 for HKD 814 million [1] - 万国黄金集团 (03939) donated HKD 7 million to support victims of the Hong Kong fire [1] - 和谐汽车 (03836) donated HKD 5 million for fire rescue efforts in Hong Kong [1] - 博雅互动 (00434) donated HKD 1 million for post-disaster reconstruction in Hong Kong [1] - 粤港湾控股 (01396) launched a self-developed quantum computing cloud service scheduling platform [1] - 中基长寿科学 (00767) plans to acquire 25% stake in 综合细胞库有限公司 for HKD 300 million [1] - 众安集团 (00672) plans to place approximately 7.15% of its shares at a premium of about 1.96%, raising approximately HKD 74.96 million [1] - 江苏宏信 (02625) plans to increase investment in 海科宏信 by HKD 53.21 million [1] Share Buybacks/Reductions - 百融云-W (06608) plans to repurchase up to HKD 450 million of Class B shares [2] - 锦欣生殖 (01951) intends to repurchase shares for no less than HKD 100 million [2] - 小米集团-W (01810) repurchased 10 million shares for HKD 402 million on December 1 [2] - 腾讯控股 (00700) repurchased 102.9 million shares for HKD 636 million on December 1 [2] - 美的集团 (00300) repurchased 125.48 million A shares for HKD 9.9971 million on December 1 [2] - 中远海控 (01919) repurchased 94.5 million shares for HKD 12.76 million on December 1 [2] - 美丽田园医疗健康 (02373) saw non-executive director 李方雨 increase holdings by 41,500 shares [2] Operating Performance - 比亚迪股份 (01211) reported approximately 4.182 million electric vehicle sales in the first 11 months, a year-on-year increase of 11.3% [2] - 吉利汽车 (00175) achieved total vehicle sales of 2.78775 million units in the first 11 months, a year-on-year increase of 42% [2] - 长城汽车 (02333) reported approximately 1.19965 million vehicle sales in the first 11 months, a year-on-year increase of 9.26% [2] - 赛力斯 (09927) recorded total vehicle sales of 58,100 units in November, a year-on-year increase of 36.34% [2] - 蔚来-SW (09866) delivered approximately 36,300 vehicles in November, a year-on-year increase of 76.3% [2] - 小鹏汽车-W (09868) delivered 36,728 smart electric vehicles in November, a year-on-year increase of 19% [2] - 奇瑞汽车 (09973) reported total sales of 255,800 vehicles across five brands in November, a year-on-year decrease of approximately 2% [3] - 理想汽车-W (02015) delivered 33,181 new vehicles in November [3]

Core Viewpoint - The company plans to repurchase up to HKD 450 million of its Class B shares within the next 12 months, subject to shareholder approval at the upcoming annual general meeting on May 30, 2025, demonstrating confidence in its business outlook and prospects [1] Group 1 - The board has resolved to seek shareholder approval for the share buyback authorization at the annual general meeting [1] - The repurchase is intended to create value for shareholders and reflect the company's confidence in its future [1] - The company believes it has sufficient financial resources to conduct the buyback while maintaining a robust financial position [1]