Today's highlights.
1. ZJ INNOLIGHT (ASX: 300308): roughly 4.997 billion yuan of repurchased shares will be fully cancelled, with net profit for the first three quarters at 22.238 billion yuan. ZJ INNOLIGHT announced that between September 1 and September 23, 2026, it repurchased a cumulative 5.6531 million shares through centralized bidding, representing 0.48% of total share capital, with a total payment of 4.997 billion yuan. The purpose of the repurchased shares was changed from an employee stock ownership plan or equity incentive to full cancellation and reduction of registered capital, and the proposal still requires shareholder meeting approval. In the first three quarters, the company's operating revenue was 69.547 billion yuan, up 178.13% year on year, and net profit attributable to shareholders of the listed company was 22.238 billion yuan, up 211.81% year on year. The company said orders for products such as 800G and 1.6T in the third quarter all achieved quarter-on-quarter growth compared with the second quarter. The company also mentioned that the People's Bank of China and two other departments have made clear that the relending policy for stock repurchases and increases will shift from a phased arrangement to a long-term institutional arrangement, with the relending rate to be lowered from 1.25% to 1% starting November 4, 2026.
2. Wuliangye (ASX: 000858): the controlling shareholder's 3.014 billion yuan increase plan has been fully implemented, with its stake rising to 21.70%. Wuliangye announced that from May 7 to November 6, 2026, Wuliangye Group increased its holdings by a cumulative 40.9675 million shares through centralized bidding, representing 1.06% of the company's total share capital, with an increase amount of 3.014 billion yuan, and the increase plan has been fully implemented. After the increase, Wuliangye Group's shareholding ratio rose from 20.65% to 21.70%, and together with its concert party Yibin Development Holding, the combined stake is 56.14%.
3. China Molybdenum (ASX: 603993): plans to repurchase shares for 1 billion to 2 billion yuan, with a maximum price of 22.78 yuan per share. China Molybdenum announced that it plans to repurchase A-shares through centralized bidding using its own funds or self-raised funds, with a repurchase amount of 1 billion to 2 billion yuan and a repurchase price of no more than 22.78 yuan per share. The implementation period is three months, and based on the upper limit, it is expected to repurchase 87.7963 million shares, accounting for 0.41% of total share capital. This repurchase is intended to safeguard the company's value and shareholder rights, as the company's closing share price has fallen below 50% of its highest closing price in the past year.
4. Fawer Automotive Parts and Faway Automobile Components: China FAW enters through gratuitous transfer, and the actual controller changes to the State-owned Assets Supervision and Administration Commission of the State Council. Fawer Automotive Parts (ASX: 000030) announced that its controlling shareholder Jilin Provincial State-owned Capital Operation Group and its controlled Tianyi Company plan to transfer 29.84% of shares gratuitously to China FAW. After the transfer, China FAW will directly and indirectly control a total of 55.54% of shares, the controlling shareholder will change to China FAW, and the actual controller will change from the Jilin Provincial State-owned Assets Supervision and Administration Commission to the State-owned Assets Supervision and Administration Commission of the State Council. Faway Automobile Components (ASX: 600742) announced on the same day that its controlling shareholder Yadong Investment plans to transfer 15.45% of shares gratuitously to China FAW. After the transfer, China FAW will hold a total of 38.39% of shares, and the controlling shareholder and actual controller will change accordingly.
5. ST Longda: actual controller Dai Xuebin is placed on file for suspected market manipulation. ST Longda (ASX: 002726) announced that its actual controller Dai Xuebin received a case filing notice from the China Securities Regulatory Commission, which decided to place him on file for suspected market manipulation. Dai Xuebin does not hold a position in the company and does not participate in daily operating decisions. The company's board of directors is operating normally, and production and operations are normal.
6. China Rare Earth: plans to issue shares to acquire equity in China Rare Earth Liangshan, and the stock will remain suspended. China Rare Earth (ASX: 000831) announced that it is planning to purchase equity in China Rare Earth Liangshan Rare Earth Co., Ltd. by issuing shares and raise supporting funds. The stock has been suspended since the market opened on November 2, 2026, and the suspension is expected to last no more than 10 trading days. At present, the transaction plan is still under negotiation and the transaction draft is still being prepared, so the company's stock will remain suspended.
Operating performance.
1. Shaanxi Coal Industry: October power generation rose 29.94% year on year, with coal output at 15.35 million tons. Shaanxi Coal Industry (ASX: 601225) announced that October sales of self-produced coal were 14.10 million tons, up 1.36% year on year.
2. Ningbo Port: October container throughput was 4.82 million TEUs, up 5.6% year on year. Ningbo Port (ASX: 601018) announced that October cargo throughput was 98.56 million tons, down 2.3% year on year.
Repurchases and increases or decreases in holdings.
1. WUS Printed Circuit: chairman proposes repurchase of 500 million to 1 billion yuan. WUS Printed Circuit (ASX: 002463) announced that chairman Chen Meifang proposed a share repurchase for equity incentives or reduction of registered capital.
2. Ganfeng Lithium: actual controller and chairman propose repurchase of 200 million to 400 million yuan. Ganfeng Lithium (ASX: 002460) announced that the repurchased shares will be used to safeguard the company's value and shareholder rights, with a term of 12 months.
3. Telling Telecommunication: shares held by a concert party of the controlling shareholder were sold in a judicial auction for 503 million yuan. Telling Telecommunication (ASX: 000829) announced that another 30.036 million shares failed to sell due to no bids, together accounting for 9.63% of total share capital.
Major contracts.
1. Optics Technology: subsidiary wins a long-term indium phosphide order from Coherent, expected to be no less than 601 million US dollars. Optics Technology (ASX: 300489) announced that it will supply 6-inch indium phosphide substrates from 2027 to 2029, and the agreement is a letter of intent.
2. Jiechuang Intelligent: signs a 4.915 billion yuan computing power technical service contract with a term of 60 months. Jiechuang Intelligent (ASX: 301248) announced that the contract amount is a provisional total price, and each batch will be subject to the actual signed order.
Other news.
1. G-bits: third-quarter cash dividend of 6 yuan per share, totaling 431 million yuan. G-bits (ASX: 603444) announced that the record date is November 12, and shares in the repurchase special account will not participate in the distribution.
2. Phoenix Shipping: placed on file by the CSRC for suspected information disclosure violations. Phoenix Shipping (ASX: 000520) announced that all business activities are operating normally and that it will actively cooperate with the investigation.
Comments