Core Viewpoint - SalMar ASA has announced a share buyback program aimed at facilitating the delivery of shares to employees as part of its share-based incentive programs [1][2]. Group 1: Share Buyback Program Details - The share buyback program will start on 21 August 2025 and conclude no later than 30 September 2025 [2]. - The program allows for the purchase of up to 100,000 shares, with a maximum expenditure of NOK 65 million [2]. - DNB Carnegie has been appointed to manage the share repurchases, making trading decisions independently of SalMar [3]. Group 2: Regulatory Compliance - The share buyback will be conducted in accordance with Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) No 2016/1052 [3]. - The company retains the right to modify the terms of the program and will announce any changes accordingly [4].

Group 1 - The company, Guichuang Tongqiao, repurchased 100,000 shares at an average price of HKD 23.20, totaling approximately HKD 2.32 million, with a cumulative repurchase of 4.0145 million shares this year, representing 1.26% of the total share capital [1] - As of the market close on the same day, Guichuang Tongqiao's stock price decreased by 1.18%, closing at HKD 23.38 per share [1] - Stock repurchase is typically a strategy employed by management when they believe the company's stock is undervalued, indicating confidence in future development despite market perceptions [1] Group 2 - Guichuang Tongqiao is an innovative medical device company listed on the Hong Kong Stock Exchange, focusing on the research, production, and sales of neuro and peripheral vascular interventional medical devices [2] - The company invests significantly in technology research and development, holding a series of proprietary technologies, and its product range includes various interventional medical devices such as stents [2] - With the growing demand for interventional treatments in the medical industry, Guichuang Tongqiao faces opportunities for development while also needing to address market competition and technological advancements [2]

Group 1 - The core viewpoint of the report is that Pacific Securities has given a "buy" rating for Pro Pharmaceutical (000739.SZ) based on several positive indicators [2] - Q2 revenue and profit faced pressure, but gross margin showed significant improvement [2] - The CDMO (Contract Development and Manufacturing Organization) business is gradually entering a harvest period, with gross margin contribution surpassing that of the API (Active Pharmaceutical Ingredient) business for the first time [2] - The stock buyback reflects the company's confidence in its long-term development [2]

Financial Data and Key Metrics Changes - Mount Gibson Iron reported sales for the year at 2,610,000 wet metric tonnes, down from 4,100,000 tonnes in the previous year, reflecting weaker prices and challenging mining conditions [4] - Sales revenue totaled AUD 330.5 million, with cash operating costs increasing to AUD 101 per wet metric ton, compared to AUD 74 in the prior year [4] - The company recorded a net loss after tax of AUD 82.2 million, compared to a net profit of AUD 6.4 million in the previous year, largely due to non-cash accounting impairments totaling AUD 90.4 million [5] Business Line Data and Key Metrics Changes - Coolin Island generated operating cash flow of AUD 26.5 million, with a profit before interest, tax, and impairments of AUD 29.3 million, but recorded a loss before interest and tax of AUD 61.1 million after impairment expenses [9] - The average waste to ore strip ratio increased to 3:1 in fiscal '25, but is expected to decrease to approximately 1.3:1 in the remaining mine life, which will enhance future sales and reduce unit costs [8] Market Data and Key Metrics Changes - The 62% FE Platts Index averaged USD 101 per dry metric ton, down from USD 119 per ton in the prior year, with high-grade 65% FE fines averaging USD 114 per ton compared to USD 131 per ton previously [10] - The average price for Pullen Island Fines rated 64.5% FE was USD 83 per ton FOB, down from USD 110 per ton for slightly higher material at 65.3% in the prior year [11] Company Strategy and Development Direction - The company is targeting strong cash flow over the next 12 to 18 months at Coolin Island, while also pursuing the acquisition of a 50% interest in the Central Tanami gold project, which is seen as a significant growth opportunity [6][13] - The focus remains on maximizing production and cash flow from Coolin Island while exploring organic growth and external investment opportunities in the mineral sector [12][17] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment was impacted by global uncertainties, including conflicts in Europe and the Middle East, which affected pricing [10] - The company expressed confidence in the upcoming fiscal year, anticipating higher-grade iron ore sales and improved cash flow following the completion of current mining activities [9][17] Other Important Information - The company has initiated a share buyback program, aiming to repurchase up to 10% of its issued capital, reflecting its strong cash position and focus on capital growth [16] - The share buyback program has seen 38.8 million shares repurchased at an average price of AUD 0.313 per share [16] Q&A Session Summary Question: Were there any questions from participants? - There were no questions from participants during the call [18]

Group 1 - On August 19, a total of 6 Hong Kong stocks were repurchased by companies, with 3 stocks having repurchase amounts exceeding 10 million HKD [1] - Tencent Holdings, China Hongqiao, and Hang Seng Bank had the largest repurchase amounts, totaling 550 million HKD, 93.2865 million HKD, and 22.3848 million HKD respectively [1] - As of August 19, 218 Hong Kong stocks have been repurchased this year, with 43 stocks having a cumulative repurchase amount exceeding 100 million HKD [1] Group 2 - Tencent Holdings, HSBC Holdings, and AIA Group had the largest cumulative repurchase amounts this year, totaling 41.144 billion HKD, 22.781 billion HKD, and 17.693 billion HKD respectively [1]

Group 1 - Tencent Holdings has resumed its stock buyback program after the earnings "quiet period," signaling strong confidence in the company's long-term value [1][2] - On August 18, Tencent repurchased approximately 931,000 shares at a cost of about 550 million HKD, marking the start of a new buyback round [2][4] - Year-to-date, Tencent's total buyback amount has exceeded 40 billion HKD, reflecting management's commitment to the company's long-term value [2][4] Group 2 - The total buyback amount for Hong Kong-listed companies has reached approximately 1,074.81 billion HKD, with Tencent leading at 405.93 billion HKD [4] - Compared to the same period in 2024, the buyback activity has decreased significantly, with a drop of nearly 600 billion HKD in total buyback amounts [4][5] - The reduction in buyback activity is seen as a reasonable market response as the Hong Kong stock market has shown recovery, with the Hang Seng Index rising over 25% year-to-date [5] Group 3 - Tencent has strategically planned its buyback windows to minimize the impact of the "quiet period," despite not applying for an exemption [3] - The company's total share capital has decreased from approximately 9.629 billion shares in July 2022 to 9.225 billion shares by the end of 2024, enhancing earnings per share (EPS) for shareholders [3] - The trend of share buybacks is gaining traction among companies as it is seen to provide better market value management compared to cash dividends [3]

从已完成回购来看，宝信软件、华凯易佰、新相微已完成回购金额最高，分别回购1.85亿元、9470.17万 元、5568.13万元。 （文章来源：每日经济新闻） 每经AI快讯，Wind数据显示，8月20日，18家公司共发布19个股票回购相关进展。其中，8家公司首次 披露股票回购预案，10家公司回购方案已实施完毕。 从首次披露回购预案来看，若羽臣、中顺洁柔、山外山回购预案金额最高，分别拟回购不超2.0亿元、 1.6亿元、1411.46万元。 ...

Group 1 - Tencent Holdings has initiated a stock buyback plan after the earnings quiet period, spending approximately 5.5 billion HKD on August 18 and 19 [1] - The total buyback amount for the year has exceeded 40 billion HKD, reflecting management's strong confidence in the company's long-term value [1] - The total share capital has decreased from approximately 9.629 billion shares in July 2022 to 9.225 billion shares by the end of 2024 [1] Group 2 - Compared to the same period in 2024, the buyback activity of Hong Kong-listed companies has weakened, with a total buyback amount of 1,645.50 billion HKD last year, nearly 600 billion HKD more than this year [1] - As the Hong Kong stock market gradually recovers, a reduction in buyback activity is seen as a reasonable market response [1] - The rising cost of stock buybacks due to increased valuations may lead companies to retain more capital for other business developments or investment projects [2]

Revenue Composition - In 2024, the revenue composition of Ruoyuchen is as follows: 43.25% from agency operations, 28.38% from brand management, 27.42% from Lycocelle, 0.69% from Finenutri, and 0.26% from other proprietary brands [1] Share Buyback Announcement - Ruoyuchen announced a share buyback plan on August 19, with a total amount not less than 100 million RMB and not exceeding 200 million RMB, funded by the company's own funds and special loan funds [2] - The buyback will be conducted through the Shenzhen Stock Exchange's centralized bidding system, with a maximum price of 76.8 RMB per share, which is 150% of the average trading price over the last 30 trading days prior to the board's resolution [2] - The implementation period for the buyback is set for 12 months from the date of board approval [2]

Core Viewpoint - Tencent Holdings has resumed its stock buyback program after the earnings "quiet period," signaling strong confidence in the company's long-term value [1][6]. Buyback Details - On August 18, Tencent Holdings repurchased approximately 931,000 shares at a cost of about 550 million HKD, marking the start of a new buyback round after pausing on July 11 [2][6]. - The total buyback amount for the year has exceeded 40 billion HKD, demonstrating management's commitment to the company's long-term value [4][6]. Market Context - The buyback trend among Hong Kong-listed companies has seen a decrease compared to the same period in 2024, with Tencent's buyback amount significantly lower than last year's [3][9]. - As of August 18, 216 Hong Kong-listed companies have repurchased shares totaling 1,074.81 billion HKD, with Tencent leading at 405.93 billion HKD [9]. Impact of Buybacks - Buybacks are often seen as a signal that companies believe their stock is undervalued, which can help stabilize investor confidence and stock prices [5][10]. - Tencent has reduced its total share capital from approximately 9.629 billion shares in July 2022 to 9.225 billion shares by the end of 2024, which directly boosts earnings per share (EPS) [7]. Market Trends - The reduction in buyback activity is viewed as a rational market response to the recovery of the Hong Kong stock market, where the Hang Seng Index has risen over 25% this year [10]. - As market valuations improve, companies may opt to reduce buybacks to allocate capital more efficiently for other business developments or investment projects [10].