Chaozhou Three-circle Group Co Ltd

On the afternoon of August 21, the MLCC concept rebounded in volatile trading, with Sinocera Materials rising more than 10%, and Sidike, Torch Electron, Boqian New Materials, Three-Circle Group, Fenghua Advanced Technology and other stocks among the top gainers. Behind the market action is the sustained price increase in the MLCC spot market that began in June 2026. As of August 2026, spot prices for ordinary standard products have risen more than 20%, while high-capacitance products such as 10 microfarad and 20 microfarad types used in AI servers have seen average increases of 60% to 80%, and some special models have doubled in price. Overseas leaders' earnings further confirm incremental AI computing demand. Murata's revenue in the second quarter of 2026 was 502.3 billion yen, up 20.7% year on year, and operating profit was 98.85 billion yen, up 59.8% year on year, with both revenue and profit setting record highs for a second quarter. Its MLCC business revenue was 282.508 billion yen, up 30% year on year, with orders in hand up 49.4% quarter on quarter and new orders up 85.5% year on year. Murata raised its full-year revenue guidance for fiscal 2026 to 2.11 trillion yen, an upward revision of 7.7% from its previous forecast, and added 80 billion yen specifically for expanding server MLCC production capacity. Samsung Electro-Mechanics reported second-quarter revenue of about 3.46 trillion won, up 24.2% year on year and a record quarterly high, with operating profit of 440.4 billion won, up 106.7% year on year. Institutions broadly expect this cycle to persist. Sealand Securities believes the shortage is spreading to consumer products, and the supply-demand gap for high-capacitance MLCCs may widen further in 2027. GF Securities notes that the current MLCC industry cycle is still in the early stage of an upcycle, and there may still be considerable room for price and profit elasticity to play out.

Companies listed on the Shenzhen Stock Exchange have recently been disclosing progress on buybacks and share purchases at a rapid pace. Since July, a total of 478 announcements on buybacks and share purchases have been made, with 147 new plans added. The combined upper limit for planned share purchases and buybacks has reached 69.306 billion yuan. Sanhuan Group completed an 895 million yuan buyback on July 30 and immediately launched a new buyback plan worth between 500 million and 1 billion yuan. Wangsu Science and Technology plans to spend 300 million to 600 million yuan on share buybacks and cancel all repurchased shares. Sanhua Intelligent Controls completed its first buyback of nearly 100 million yuan. Qu Jianguo, the actual controller of Canature Health, proposed spending 25 million to 50 million yuan on buybacks. Sieyuan Information launched a buyback plan of 30 million to 60 million yuan. Five senior executives, including Hou Zhenfu, chairman of Guangzhi Technology, plan to increase their shareholdings by a combined upper limit of 22 million yuan. Xinghui New Materials has cumulatively repurchased 2.1367 million shares, with a transaction value of approximately 80.6584 million yuan. Industry insiders say the intensive buybacks and share purchases are both a rational response to valuation levels and are expected to further bolster investor confidence.

Hairong Technology has signed a long-term strategic cooperation agreement with Hema China and others, while Yuntianhua says it will speed up the construction of its phosphogypsum-to-acid project. Hairong Technology agreed to use 130 million yuan of its own funds to acquire a 55 percent stake in Tanghe Food held by Tangdou Technology, with the cooperation period running until December 31, 2030. Yuntianhua stated that accelerating the phosphogypsum-to-acid project can partially reduce reliance on external sulfur purchases and strengthen its independent sulfur resource security capability. In addition, Sanhuan Group plans to repurchase no less than 500 million yuan and no more than 1 billion yuan of its own shares, while TGOOD plans to repurchase no less than 300 million yuan and no more than 600 million yuan of its own shares. A wholly owned subsidiary of Soling Industrial has signed an electronic equipment supply contract with Mitsubishi Heavy Industries worth approximately 130 million US dollars, accounting for 120 percent of the company's audited 2025 annual revenue.

Three-Circle Group announced that it has received a loan commitment letter from the Chaozhou branch of Industrial and Commercial Bank of China. The loan amount is up to 900 million yuan, with a term of no more than three years, specifically for the company's stock buyback. The commitment letter provides financing support for the company's share repurchase, and the specific loan terms will be governed by the loan agreement signed by both parties.

Sanhuan Group announced it will implement a second-phase repurchase, planning to buy back company shares for 500 million to 1 billion yuan. The company previously held the 22nd meeting of the 11th Board of Directors on July 20, 2026, where it approved the first-phase repurchase plan, which has been fully completed, with a cumulative repurchase of 8.5473 million shares for a total transaction amount of 895 million yuan. The new repurchase price cap is 135 yuan per share, funded by own or self-raised funds, and the repurchased shares will be used for equity incentives, employee stock ownership plans, or maintaining company value. Sanhuan Group expects its attributable net profit for the first half of this year to grow 45% to 65% year-on-year, and as of the close on July 30, its total market capitalization reached 209.322 billion yuan.

On the evening of July 30, a number of Shenzhen- and Shanghai-listed companies released positive announcements. Chifeng Gold disclosed that its controlled subsidiary Vientiane Mining has updated the mineral resource estimate for the SND gold-copper project at the Sepon mine in Laos, with gold-equivalent metal resources increasing from 107 tonnes to 260 tonnes, a rise of about 143%. Eastroc Beverage released its half-year report, with first-half 2026 operating revenue reaching 12.443 billion yuan, up 15.89% year-on-year, and net profit attributable to shareholders of the listed company of 2.867 billion yuan, up 20.72% year-on-year, and plans to distribute a cash dividend of 30 yuan per 10 shares. Rongbai Technology plans to invest about 4.723 billion yuan to build a 300,000-tonne-per-year integrated sodium-ion battery cathode material project in Xiantao, to be advanced in three phases. Youyan New Materials plans to invest 486 million yuan in the second-phase expansion of high-purity sputtering targets for integrated circuits, to boost high-end target production capacity. A subsidiary of Soling Industrial has signed a supply contract worth about 883 million yuan with Mitsubishi Heavy Industries, accounting for 120% of the company's 2025 annual operating revenue. In addition, Three-Circle Group plans to repurchase shares for 500 million to 1 billion yuan, the actual controller of Forehope Electronic proposes a repurchase of 100 million to 150 million yuan, Hairong Technology plans to acquire a 55% stake in Tanghe Food for 130 million yuan and has signed a long-term strategic cooperation agreement with Freshhema, Tianwei Electronics plans to acquire a 60% controlling stake in Xiuwei Technology for 90 million yuan, and Yujing Machinery plans a private placement to raise 176 million yuan for cutting, grinding and polishing equipment and other projects.

On the evening of July 30, several listed companies disclosed important announcements. Dongpeng Beverage released its semi-annual report, with operating revenue reaching 12.443 billion yuan in the first half of 2026, up 15.89% year-on-year, and net profit attributable to shareholders of the listed company of 2.867 billion yuan, up 20.72% year-on-year. It also plans to distribute a cash dividend of 30 yuan for every 10 shares to all shareholders. The controlling shareholder of Dongyangguang proposed that the company repurchase shares with 300 million to 600 million yuan, while the controlling shareholder itself plans to increase its holdings by no less than 300 million yuan. Jahwa United announced that the tender offer results from Hangzhou Pinpianyi have been confirmed, and the company's shares will resume trading from July 31. In addition, Sanhuan Group, Wangsu Science & Technology, TGOOD, and other companies disclosed buyback plans, with buyback amounts ranging from tens of millions to 1 billion yuan. Huashu High-Tech expects first-half net profit to increase by about 87% year-on-year, while Yaxiang Integrated's net profit increased by 204.80%. Youyan New Materials plans to invest 486 million yuan to build the second-phase expansion project for high-purity sputtering targets for integrated circuits, and Rongbai Technology plans to invest about 4.723 billion yuan to build an integrated project in Xiantao with an annual output of 300,000 tons of sodium-ion battery cathode materials.

Changsheng High-End Equipment Hybrid A disclosed its second-quarter 2026 report, with a second-quarter fund profit of 547 million yuan and a net value growth rate of 60.64%. As of the end of the second quarter, the fund size was 1.353 billion yuan. Fund manager Guo Kun stated that the market diverged significantly in the second quarter, with growth indices such as the STAR 50 and STAR ChiNext 50 performing exceptionally well. The electronics and communications sectors surged 90.92% and 63.84%, respectively. The fund mainly increased holdings in electronics, electrical new energy, and pharmaceuticals. As of July 21, the fund's one-year cumulative net unit value growth rate was 71.86%, ranking 76 out of 809 among comparable funds. At the end of the second quarter, the top ten heavy-weighted stocks included NAURA Technology Group, Three-Circle Group, and Zhongji Innolight.

DSBJ announced plans to repurchase shares for 200 million to 300 million yuan, with a buyback price not exceeding 367.04 yuan per share, for employee stock ownership plans or equity incentives. Sanhua Intelligent Controls' controlling shareholder proposed repurchasing A-shares for 200 million to 400 million yuan. Three-Circle Group plans to repurchase shares for 450 million to 900 million yuan. Huayou Cobalt plans to repurchase shares for 600 million to 1 billion yuan. Broad-Ocean Motor terminated its H-share issuance and plans to repurchase shares for 120 million to 160 million yuan. Zhifei Biological plans to repurchase shares for 150 million to 300 million yuan. Puya Semiconductor's controlling shareholder proposed repurchasing shares for 30 million to 50 million yuan. Chunzhong Technology's chairman proposed repurchasing shares for 50 million to 100 million yuan to reduce registered capital. Kedali's controlling shareholder proposed repurchasing shares for 150 million to 300 million yuan. Sany Heavy Industry's chairman proposed repurchasing shares for 400 million to 800 million yuan. On the share increase side, Chuantou Energy's controlling shareholder plans to increase holdings by 200 million to 300 million yuan. China State Construction's controlling shareholder plans to increase holdings by 500 million to 1 billion yuan. Gongda Electroacoustic's controlling shareholder's concert party plans to increase holdings by 150 million to 250 million yuan. In addition, SDIC Power plans to jointly build the Yagen II Hydropower Station with CATL, with a total investment of 33.394 billion yuan. Hangdian Cable plans a private placement to raise no more than 2.88 billion yuan for optical fiber preform and other projects. Dajin Heavy Industry's subsidiary signed a shipbuilding contract worth about 2.1 billion yuan. Xingyun Technology signed a 300 million yuan computing power service contract. Yangdian Technology's wholly-owned subsidiary signed an 860 million yuan computing power service contract. Yushun Electronics' subsidiary signed a 731 million yuan computing power server lease contract. On the performance front, Raycus Laser's first-half net profit rose 117 percent year-on-year. Han's Laser's semi-annual net profit rose 163.47 percent year-on-year. Raytron Technology's first-half net profit is expected to increase by 242 percent to 270 percent. Haozhi Electromechanical's semi-annual net profit rose 267 percent year-on-year.

Sanhuan Group announced that the company plans to use its own funds or self-raised funds to repurchase shares, with the total repurchase amount no less than 450 million yuan and no more than 900 million yuan, and the repurchase price not exceeding 135 yuan per share. The repurchased shares will be used for equity incentive plans or employee stock ownership plans, as well as to maintain company value and shareholder interests.