🏢 公司Newsroom01378Doubao · 实盘不做把握 8/10不做原因:风险收益比不佳
北京时间·🕒 发布 10-26(香港日)仅日期·时区推断·⟳ 抓取 09:57:11回填·⚡ 决策 10-26 09:58:33·1.6 天前
中国宏桥10月23日场内回购2402.65万股，涉资约4.50亿港元，占已发行股份约0.24%
这是依据既有年度回购授权的常规单日场内回购，金额约4.5亿港元，仅占总股本0.24%、相对中国宏桥约1900亿港元市值不足0.25%，且回购已于10月23日完成、属事后披露，缺乏新增计划或超预期规模，不足以驱动可交易的价格重定价；同时公司近20日下跌约10%，回购更像价格偏离后的信心表态而非盈利催化。
📄 原文01378↗ 原文
Voluntary announcement - on-market share repurchas...
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the con…
不做 中国宏桥集团有限公司（01378.HK）
既有回购授权下的常规单日场内回购，金额约4.5亿港元、仅占股本0.24%（相对约1900亿港元市值不足0.25%），且已于10月23日完成、事后披露，无新增计划或超预期规模；近20日股价约-10%，现价19.23已高于回购最高价19.11，信心信号难构成短线正edge，不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
中国宏桥披露10月23日约4.5亿港元的单日场内回购（占股本0.24%），属既有授权下小额、事后披露的常规操作，相对近1900亿港元市值量级过小，无新增回购计划，正面但不构成可交易edge，回避。
🔎 新鲜度:最早出现 2026-10-26 · 扩散 low · price-in 风险 medium ↗
关键理由
- 回购均价约18.72港元，董事会明确表示现价偏离价值且不排除继续回购，对股价有底部信号意义
主要风险
- 单日回购规模仅占市值约0.24%且已完成，若后续不持续或铝价/盈利走弱，托底信号难以扭转近期下行趋势（近20日约-10%）
反向证据
- 做多前查反向 · 来源 stock_quote · 日期 2026-10-26 · 影响 weakens
近20日累计约-10%、10月15日单日-6.65%，股价处于下行通道，回购或为对冲跌势的信心动作而非基本面催化
检索:中国宏桥 近期 铝价 盈利下修 利空 回购
先例如何影响了这次决策
对本次决策的影响:因量级不足且无新增计划，先例不改变回避结论；不据此设定交易幅度
方向:常规小额单日回购（占股本<0.5%）的信号意义通常偏中性偏正，缺乏可锚定的高相似对齐先例来支撑短线涨幅
涨幅量级:量级相对市值过小，不具备用先例校准tp/sl的基础
形态:授权内常规回购多为事后公告、市场当日反应有限，未见可引用的见光死统计
工具执行结果 · 成功 1 · 降级 1 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 49 ms
{"result": "search_processed_events:agent query=`china hongqiao on-market share repurchase 23 october 2026 | 中国宏桥 1378 回购 24,026,500 股 | 宏桥 449,708,800 港元 购回股份`；结构化索引覆盖完整 6 小时；旧记录兼容扫描近 5.7/6 小时、416 条本臂决策(完整)，返回 0 条候选。未命中只表示这些 agent query 表达式没有召回候选，不能据此证明消息首发或不是重复；按当前事件继续正常研判。"} - stock_quote 降级 stock_tools HTTP · 734 ms
{
原文全文
展开原文 · 3,743 字
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take
no responsibility for the contents of this announcement, make no representation as to its accuracy or
completeness, and expressly disclaim any liability whatsoever for any loss howsoever arising from or in
reliance upon the whole or any part of the contents of this announcement.
China Hongqiao Group Limited
中國宏橋集團有限公司
(Incorporated under the laws of Cayman Islands with limited liability)
(Stock Code: 1378)
VOLUNTARY ANNOUNCEMENT
ON-MARKET SHARE REPURCHASE
UNDER THE REPURCHASE MANDATE
This is a voluntary announcement made by China Hongqiao Group Limited (the “Company”). The board
of directors of the Company (the “Board”) hereby announces that on 23 October 2026, pursuant to the
share repurchase mandate granted by the shareholders of the Company at the annual general meeting
held on 19 May 2026, the Company purchased 24,026,500 ordinary shares of the Company at the highest
and lowest prices of HK$19.11 and HK$17.80 per share respectively (“Share Repurchase”).
The aggregate purchase price paid (excluding commission and other expenses) for the Share Repurchase
was approximately HK$449,708,800. The repurchased shares represent approximately 0.24% of
the existing total number of issued shares of the Company as at the date of this announcement. The
Company will subsequently cancel the repurchased shares and it is expected that after the cancellation
of all the repurchased shares, the reduced total number of issued shares of the Company will be
9,795,371,341 shares, of which (i) 6,139,031,073 shares are expected to be held by its controlling
shareholders, representing approximately 62.67% of the reduced total number of issued shares of the
Company; and (ii) 8,870,000 shares are expected to be held by a director of the Company, representing
approximately 0.09% of the reduced total number of issued shares of the Company. After the completion
of this repurchase and cancellation of the shares, the public float of the Company will be approximately
37.24%. According to the relevant public float waiver granted to the Company, the public float that the
Company should fulfil is 15.04%.
1
The Board is of the view that the current share price deviates from the Company’s value and would not
preclude to further repurchase in accordance with the market condition, and that the Share Repurchase
reflects the confidence of the Board and the management team in the long-term strategy and growth
of the Company and considers that the Share Repurchase is in the best interest of the Company and its
shareholders as a whole.
By order of the Board
China Hongqiao Group Limited
Zhang Bo
Chairman
Shandong, the PRC
23 October 2026
As at the date of this announcement, the Board comprises eleven directors, namely Mr. Zhang Bo, Mr.
Zhang Jinglei, Ms. Zhang Ruilian and Ms. Wong Yuting as executive directors, Mr. Yang Congsen,
Mr. Tu Yikai (Mr. Zhang Hao as his alternate) and Ms. Sun Dongdong as non-executive directors, and
Mr. Meng Xianzhong, Mr. Wen Xianjun, Ms. Fu Yulin and Mr. Ma Jin as independent non-executive
directors.
2
no responsibility for the contents of this announcement, make no representation as to its accuracy or
completeness, and expressly disclaim any liability whatsoever for any loss howsoever arising from or in
reliance upon the whole or any part of the contents of this announcement.
China Hongqiao Group Limited
中國宏橋集團有限公司
(Incorporated under the laws of Cayman Islands with limited liability)
(Stock Code: 1378)
VOLUNTARY ANNOUNCEMENT
ON-MARKET SHARE REPURCHASE
UNDER THE REPURCHASE MANDATE
This is a voluntary announcement made by China Hongqiao Group Limited (the “Company”). The board
of directors of the Company (the “Board”) hereby announces that on 23 October 2026, pursuant to the
share repurchase mandate granted by the shareholders of the Company at the annual general meeting
held on 19 May 2026, the Company purchased 24,026,500 ordinary shares of the Company at the highest
and lowest prices of HK$19.11 and HK$17.80 per share respectively (“Share Repurchase”).
The aggregate purchase price paid (excluding commission and other expenses) for the Share Repurchase
was approximately HK$449,708,800. The repurchased shares represent approximately 0.24% of
the existing total number of issued shares of the Company as at the date of this announcement. The
Company will subsequently cancel the repurchased shares and it is expected that after the cancellation
of all the repurchased shares, the reduced total number of issued shares of the Company will be
9,795,371,341 shares, of which (i) 6,139,031,073 shares are expected to be held by its controlling
shareholders, representing approximately 62.67% of the reduced total number of issued shares of the
Company; and (ii) 8,870,000 shares are expected to be held by a director of the Company, representing
approximately 0.09% of the reduced total number of issued shares of the Company. After the completion
of this repurchase and cancellation of the shares, the public float of the Company will be approximately
37.24%. According to the relevant public float waiver granted to the Company, the public float that the
Company should fulfil is 15.04%.
1
The Board is of the view that the current share price deviates from the Company’s value and would not
preclude to further repurchase in accordance with the market condition, and that the Share Repurchase
reflects the confidence of the Board and the management team in the long-term strategy and growth
of the Company and considers that the Share Repurchase is in the best interest of the Company and its
shareholders as a whole.
By order of the Board
China Hongqiao Group Limited
Zhang Bo
Chairman
Shandong, the PRC
23 October 2026
As at the date of this announcement, the Board comprises eleven directors, namely Mr. Zhang Bo, Mr.
Zhang Jinglei, Ms. Zhang Ruilian and Ms. Wong Yuting as executive directors, Mr. Yang Congsen,
Mr. Tu Yikai (Mr. Zhang Hao as his alternate) and Ms. Sun Dongdong as non-executive directors, and
Mr. Meng Xianzhong, Mr. Wen Xianjun, Ms. Fu Yulin and Mr. Ma Jin as independent non-executive
directors.
2
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