During a period of industry adjustment, the willingness and ability of listed companies to return value to shareholders is put to the ultimate test. Although China Risun Group (01907) continues to see its share price under pressure amid irrational market sentiment, the world-leading energy and chemical company has persisted with a "buyback plus dividend" combination to reinforce shareholder returns, giving back to investors with real money. Recently, Risun Group restarted large-scale share buybacks. On September 24, Risun Group spent HK$3.2085 million to repurchase 2 million shares at an average price of HK$1.604; on the 25th, the company repurchased another 1 million shares for HK$1.589 million; on the 28th and 29th, Risun wasted no time in repurchasing 319,000 and 500,000 shares respectively. Looking at a longer time frame, this marks Risun Group's return to buybacks after nearly two months since late July, with the single-day buyback intensity noticeably larger than during July.

In terms of buyback patterns, Risun Group's share repurchases exhibit clear characteristics of continuity and phased execution. From June 18 to July 27 this year, the company spent a total of over HK$55 million to repurchase 26.438 million shares; afterward, the company deliberately slowed its pace until it began ramping up again on September 24. Based on past patterns, once a buyback window opens, Risun Group typically operates continuously and at high frequency over the following period, so it is reasonable to expect the company to maintain this buyback rhythm in the upcoming fourth quarter.

Looking back at historical data, Risun Group has in fact always placed great importance on shareholder returns, with buybacks being one of its routine mechanisms. Data shows that in 2023 the company's buyback amount was approximately HK$41 million, which rose sharply to HK$354 million in 2024, while in 2025 it maintained a buyback intensity of HK$196 million. Entering 2026, as of the close on September 29, the company had cumulatively repurchased 30.257 million shares during the year, accounting for approximately 0.71% of issued share capital, at a cost of about HK$61 million. If the buyback amounts from subsequent trading days are included, the full-year 2026 buyback scale is expected to move further toward historical highs.

When buybacks and dividends are viewed together, Risun Group's emphasis on shareholder returns is even more pronounced. Risun Group declared an interim dividend of 1.44 cents per share for 2026, with total dividend payout reaching 61.231 million yuan, a significant strengthening compared with 0.20 cents in the same period last year. At the bottom of the industry cycle, Risun Group did not choose to retain cash but instead insisted on continuously rewarding shareholders with real money—a decision that in itself conveys management's full confidence in the company's cash flow position and future profitability.

Looking back at Risun Group's fundamentals, its previously disclosed 2026 interim results show that its industrial layout has initially formed a situation where its three pillar industries—chemicals, coke, and new energy—are advancing in parallel. At this stage, Risun's financial indicators are undergoing comprehensive repair, while growth potential is being released at an accelerating pace. Looking ahead, the anti-cyclical development capability built on the coordinated development of these three industries—chemicals, coke, and new energy—will inevitably continue to amplify Risun Group's growth visibility and sustainability. With multiple financial indicators recovering sequentially, earnings inflection point signals strengthening, shareholder returns continuing to increase, and considering that Risun Group's current valuation remains at historical lows, the company's investment value urgently needs to be re-examined by the market.