Group 1 - The core viewpoint of the article indicates that Bruker (00325) experienced volatility in its stock price, initially rising over 5% before declining more than 4% in the afternoon, ultimately trading down 3.6% at HKD 107.1 with a trading volume of HKD 405 million [1] - Bruker announced a share buyback plan until December 31, funded by existing cash reserves and free cash flow, with the buyback not involving proceeds from the global share offering. The shares repurchased will be used for future employee equity incentives [1] - The board has been authorized to repurchase up to 10% of the total issued shares, which amounts to a maximum of 24.925 million shares [1] Group 2 - Citigroup released a report indicating that due to delays in the launch of new products, Bruker has revised its revenue guidance for the year to a growth of over 50% year-on-year, with expectations of a 70% to 80% revenue increase in the second half [1] - The management attributed the decline in gross margin in the first half to the costs associated with new products and initial overseas expansion. It is expected that as overseas business and new product sales grow, the impact on gross margin will lessen [1] - Citigroup believes that due to Bruker's ongoing investment in new products and R&D, the gross margin may take time to recover to last year's levels, and has lowered the target price for the company from HKD 155 to HKD 128. The market will continue to focus on the progress of new product launches in the short term [1]

Core Viewpoint - The company Bruco (00325) has announced a share buyback plan funded by its cash reserves and free cash flow, while also facing challenges with delayed new product launches that have led to a downward revision of its revenue guidance for the year [1][1]. Group 1: Share Buyback Plan - Bruco plans to repurchase shares until December 31, using available cash reserves and free cash flow, with no involvement of funds from the global share offering [1][1]. - The board has been authorized to buy back up to 10% of the total issued shares, which amounts to a maximum of 24.925 million shares [1][1]. Group 2: Revenue Guidance and Financial Performance - Citigroup has downgraded Bruco's revenue guidance for the year to a growth of over 50% year-on-year due to delays in new product launches [1][1]. - The company expects revenue growth of 70% to 80% in the second half of the year [1][1]. - The decline in gross margin for the first half is attributed to new product costs and initial transportation costs related to overseas expansion, but this impact is expected to lessen as overseas business and new product sales increase [1][1]. Group 3: Market Sentiment and Target Price - Citigroup has lowered the target price for Bruco from 155 HKD to 128 HKD, reflecting concerns over the new product launch timeline [1][1]. - The market is currently focused on the progress of new product releases as a key factor influencing Bruco's short-term performance [1][1].