今年港股赚钱效应很高，局部牛市下出现了多只大牛股，作为TIC行业龙头，力鸿检验（01586）今年市值涨幅也达到了28.9%，但相比于其他标的，该公司 走长牛路线，近三年升幅超过100%，近六年升幅超300%。 力鸿检验能够走出长牛，这主要得益于该公司强劲的基本面+回购及分红等提升股东回报措施，持续吸引价值投资者加注。 该公司主要有三大业务，包括检测服务、鉴定服务和见证及辅助服务，通过"AI+机器人"布局双轮驱动技术突破，加速全业务场景的智能化改造。2025年上 半年，该公司通过自主研发的"力鸿AI系统"，率先实现AI大模型与能源检验核心业务的深度融合，标志着传统检验业务正式迈入"智能化驱动"新阶段。 而根据数据，TIC行业龙头力鸿检验（01586）于去年12月13日至今年9月29日合计回购116次，累计回购1764万股，占比总股本3%，回购金额4025.4万港 元。在这回购期间，该公司市值升幅达48.7%。截止2025年6月，该公司拥有现金等价物2.16亿港元，相比于去年同期高出13.1%。 回购具有高度灵活性，依托于账上的现金资源，不仅可以维稳投资者信心及股价，同时注销回购股份后也可以提升权益股东的内在回报 ...

Strategic Overview - The company has launched the "X3 Strategy" to drive high growth from 2025 to 2027, focusing on three main sectors: large infrastructure, new insurance, and new industries [2][3] - The "X3 Strategy" aims to transform the company into a digital platform through advanced technology [3] Strategic Goals - Five key strategic upgrades include: 1. Transitioning from construction consulting to professional technical services (TIC) [3] 2. Expanding business model to include energy, new consumption, insurance, and large infrastructure sectors [3] 3. Shifting from a service + platform + data model to a service + platform + product integrated solution [3] 4. Moving from a labor-intensive model to a technology-driven approach [3] 5. Balancing internal growth with external mergers and acquisitions [3] Investment and R&D - The company plans to focus on investment and acquisitions under the "X3 Strategy," utilizing AI and new technologies for business enhancement [4] - R&D investment for H1 2025 was 15.23 million yuan, showing a slight increase year-on-year [5] - The company is collaborating with Hong Kong University of Science and Technology on a project that significantly improves efficiency in building inspections [5] Customer Structure and Revenue - In H1 2025, new customer contracts increased, with revenue from industrial and insurance clients rising by 13.72% and 46.79% respectively, while real estate client revenue dropped to 40.03% [6] Employee Incentives - The employee stock ownership plan has a 12-month lock-in period, while the stock incentive plan has a 36-month lock-in period, targeting different employee groups [6] - Total cost for the employee stock ownership plan is 4.78 million yuan, while the stock incentive plan's total cost over three years is 17.35 million yuan [7]