Core Insights - The report highlights changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies. Group 1: Recent Increases in Holdings - VITASOY INT'L (00345) saw an increase of 0.09%, bringing its latest holding percentage to 3.75% [1] - 恒生科技ETF (03032) increased by 0.04%, with a current holding of 18.49% [1] - 永升服务 (01995) experienced a rise of 0.01%, now holding 4.57% [1] - 南方东西精选 (03441) had the largest increase over five days at 18.46%, reaching 41.03% [4] - 喜相逢集团 (02473) increased by 10.04%, with a holding of 45.14% [4] - 兆易创新 (03986) rose by 4.95%, now at 6.65% [4] Group 2: Recent Decreases in Holdings - 南方恒生科技 (03033) experienced the largest decrease of -0.14%, with a current holding of 68.87% [2] - 医渡科技 (02158) decreased by -0.03%, now at 22.59% [2] - 盈富基金 (02800) saw a reduction of -0.02%, with a holding of 3.49% [2] - 山东墨龙 (00568) had a five-day decrease of -1.30%, now at 53.56% [5] - 亿华通 (02402) decreased by -1.00%, with a holding of 27.49% [5] - 国富氢能 (02582) saw a reduction of -0.90%, now at 20.14% [5] Group 3: Long-term Trends in Holdings - Over a 20-day period, 喜相逢集团 (02473) had the highest increase of 42.45%, reaching 45.14% [6] - 南方东西精选 (03441) increased by 27.31%, now at 41.03% [6] - 钧达股份 (02865) rose by 15.74%, with a holding of 64.80% [6] - 天齐锂业 (09696) experienced a significant decrease of -6.48%, now at 31.50% [6] - 金风科技 (02208) decreased by -5.88%, with a holding of 42.49% [6]

Group 1 - Anta Sports-R (82020), JD Health-R (86618), and Geely Automobile-R (80175) have the highest short-selling ratios at 100.00%, 100.00%, and 95.46% respectively [1] - Tencent Holdings (00700), Alibaba-W (09988), and Meituan-W (03690) lead in short-selling amounts, with 2.193 billion, 1.867 billion, and 1.658 billion respectively [1] - Geely Automobile-R (80175), Tencent Holdings-R (80700), and Blue Moon Group (06993) have the highest deviation values at 56.09%, 35.57%, and 33.29% respectively [1] Group 2 - The top short-selling ratio rankings show Anta Sports-R (82020) at 100.00% with a short-selling amount of 29.79 thousand, followed by JD Health-R (86618) at 100.00% with 9.88 thousand, and Geely Automobile-R (80175) at 95.46% with 31.09 thousand [2] - The top short-selling amounts are led by Tencent Holdings (00700) at 2.193 billion, Alibaba-W (09988) at 1.867 billion, and Meituan-W (03690) at 1.658 billion [2] - The highest short-selling deviation values are led by Geely Automobile-R (80175) at 56.09%, followed by Tencent Holdings-R (80700) at 35.57%, and Blue Moon Group (06993) at 33.29% [2]

港股通红利低波ETF基金（159118）现任基金经理为严筱娴。严筱娴自2025年11月17日管理（或拟管 理）该基金，任职期内收益3.06%。 最新定期报告显示，港股通红利低波ETF基金（159118）重仓股包括远东宏信、中国神华、中国石油股 份、中国海洋石油、江西铜业股份、恒隆地产、恒安国际、信和置业、电讯盈科、中国石油化工股份， 持仓占比如下。 股票代码股票名称持仓占比持仓股数（股）持仓市值（元）03360远东宏信1.07%70.30万498.70万01088 中国神华1.06%13.40万493.23万00857中国石油股份1.05%59.40万486.83万00883中国海洋石油1.05%24.40 万487.94万00358江西铜业股份1.05%17.60万487.23万00101恒隆地产1.04%58.30万483.12万01044恒安国 际0.91%16.65万423.93万00083信和置业0.91%46.40万425.49万00008电讯盈科0.85%72.50万393.49万 00386中国石油化工股份0.84%94.60万392.83万 来源：新浪基金∞工作室 2月24日，华夏标普港股通 ...

PresentationLadies and gentlemen, welcome to the PCCW 2025 Annual Results Announcement. Presenting today are Ms. Susanna Hui, Acting Group Managing Director and Group CFO; and Mr. Michael Wong, Head of Investor Relations. Over to Susanna, please.Hon Hing HuiActing Group MD, Group CFO & Executive Director Thank you. Despite global trade uncertainties and cautious consumer sentiment, the Hong Kong economy recovered steadily throughout 2025. And against this market backdrop, PCCW delivered a resilient performa ...

Major Events - Xian Dao Intelligent (00470) received a subscription rate of 79.54 times for its public offering in Hong Kong, with a final issue price of HKD 45.8 per share [1] - Shishi Pharmaceutical Group (02005) is expected to win bids for 45 products in the national centralized procurement [1] - Gilead Sciences-B (01672) has selected the oral amylin receptor agonist peptide ASC36 for clinical development [1] - China Railway Construction (01186) recently won major projects totaling CNY 451.42 billion [1] - Shoucheng Holdings (00697) invested in Qimiao Labi through its subsidiary fund, focusing on expanding its product matrix around core intellectual property [1] - Minshi Group (00425) plans to establish a joint venture to produce aluminum body frame components [1] - Fubo Group (03738) has reached a strategic cooperation with Xinglu Technology [1] - Jin Xun Resources (03636) plans to increase capital by a total of USD 44 million for its overseas subsidiaries [1] - Changfei Optical Fiber and Cable (06869) experienced abnormal fluctuations in A-share trading, clarifying that it does not engage in CPO-related businesses [1] Operating Performance - SMIC (00981) reported Q4 revenue of USD 2.489 billion, a quarter-on-quarter increase of 4.5%, with a gross margin of 19.2% [1] - PCCW (00008) reported a loss attributable to shareholders of HKD 253 million for the fiscal year 2025, narrowing by 16% year-on-year [1] - WuXi Biologics (02269) issued a positive profit alert, expecting a year-on-year profit increase of approximately 46.3% to CNY 4.908 billion for the fiscal year 2025 [1] - Dongyue Group (00189) issued a positive profit alert, anticipating over 100% year-on-year growth in profit attributable to owners for 2025 [1] - Elephant Future Group (02309) issued a positive profit alert, expecting a mid-term profit attributable to owners of approximately HKD 178 million, reversing from a loss [1] - Sihuan Pharmaceutical (00460) issued a positive profit alert, expecting revenue of no less than CNY 2.5 billion for 2025, with a growth rate exceeding 30% compared to the previous year [1] - Beijing Automotive (01958) expects a net profit attributable to the parent company of approximately CNY 110 million to CNY 130 million for 2025, a year-on-year decrease of about 86.4% to 88.5% [1] - COFCO Joycome (01610) issued a profit warning, expecting a loss attributable to shareholders of approximately CNY 230 million to CNY 350 million, reversing from profit year-on-year [1] - New Town Development (01030) achieved a contract sales amount of approximately CNY 714 million in January, a year-on-year decrease of 29.79% [1] - Yue Yuen Industrial (00551) reported a net operating income of approximately USD 705 million in January, a year-on-year decrease of 12.5% [1] - Baoshan International (03813) reported a cumulative net operating income of CNY 1.748 billion in January, a year-on-year decline of 32.5% [1]

Core Viewpoint - The company reported a 7% increase in revenue to HKD 40.252 billion and a 3% increase in EBITDA to HKD 13.290 billion for the fiscal year ending December 31, 2025, with a narrowed loss attributable to equity holders by 16% to HKD 253 million [1] Group 1: Financial Performance - Revenue increased by 7% to HKD 40.252 billion [1] - EBITDA rose by 3% to HKD 13.290 billion [1] - Loss attributable to equity holders narrowed by 16% to HKD 253 million, with a basic loss per share of HKD 0.0327 [1] Group 2: Viu's Market Position and Strategy - Viu continues to strengthen its regional leadership by providing high-quality, localized content across 15 markets in Southeast Asia, the Middle East, and South Africa [1] - The platform added 1.3 million new paying users, bringing the total to 16.8 million [1] - Strong performance in Thailand, Indonesia, and Malaysia driven by closer collaboration with local partners and strategies to enhance market penetration [1] Group 3: Content Strategy and Growth - The growth is attributed to a balanced and well-planned content mix, including over 200 new productions, with a focus on high-quality content [2] - Popular titles like "Taxi Driver 3" and "Shining for You" significantly contributed to user growth and engagement [2] - Viu's subscription revenue grew by 13%, while the EBITDA for the over-the-top (OTT) business surged by 56% [2]

此增长的关键，源于我们持续拓展均衡及悉心策划的内容组合，涵盖多种类型和语言。在聚焦优质内容 的策略下，我们推出了逾200部新作品，包括多部全新韩国剧集、因应区内需求激增而扩展的华语节目 阵容，以及一系列为当地观众度身订造的ViuOriginal原创内容。韩国剧集《模范的士3》及华语剧《许 我耀眼》等热门作品在多个市场带来显着的付费用户增长及用户参与度。Viu订购用户基础不断扩大， 加上审慎的内容投资，推动Viu订购收益增长13%，而over-the-top(OTT)业务EBITDA增长56%。 Viu在其区域领导地位的基础上，继续致力为东南亚、中东及南非15个市场的观众提供优质、区域化和 本地化内容。年内，Viu净增加130万名付费用户，总付费用户达到可观的1680万名。泰国、印尼及马来 西亚的业务表现尤为强劲，主要受惠于与当地合作伙伴更紧密的协作，以及提升这些关键市场渗透率的 策略。展望未来，Viu将优先投资于已建立稳固根基的市场，以实现规模经济效益。 智通财经APP讯，电讯盈科(00008)发布截至2025年12月31日止年度业绩，收益增加7%至402.52亿港 元，EBITDA增加3%至港币132.90 ...

Core Viewpoint - The announcement details the appointment of Mr. Feng Lanxiao as a non-executive director and a member of the remuneration committee, effective February 10, 2026, while Ms. Meng Shusen resigns from the same positions due to a work relocation, also effective February 10, 2026 [1]. Group 1 - Mr. Feng Lanxiao has been appointed as a non-executive director of the company [1] - Mr. Feng will also serve as a member of the remuneration committee [1] - Ms. Meng Shusen will resign from her position as a non-executive director and member of the remuneration committee [1]

Core Viewpoint - The company reported a year-on-year increase in comprehensive income and EBITDA, while also reducing its losses compared to the previous year, indicating a positive trend in financial performance [1] Financial Performance - The comprehensive income for the year ending December 31, 2025, was HKD 40.252 billion, representing a 7% increase year-on-year [1] - The comprehensive EBITDA was HKD 13.290 billion, showing a 3% growth compared to the previous year [1] - The loss attributable to equity holders was HKD 0.253 billion, an improvement from a loss of HKD 0.300 billion in the prior year [1] - The proposed final dividend is HKD 0.284 per ordinary share, leading to a total annual dividend of HKD 0.3825 per ordinary share [1] Revenue Breakdown - Revenue from telecommunications in Hong Kong grew by 5% to HKD 36.553 billion [1] - OTT business revenue increased by 5% to HKD 2.579 billion [1] - Revenue from free television and related businesses was HKD 1.034 billion [1] Digital and Broadcasting Performance - The local broadcasting business, ViuTV, received positive reviews from both audiences and critics, solidifying its position as a preferred platform for young viewers in Hong Kong [1] - The number of digital subscribers grew by over 3.6% to 3.4 million, with viewing time increasing significantly by 6.7%, reflecting the enhanced appeal of the content [1]

Group 1 - The core point of the article is the appointment and resignation of directors at PCCW Limited (00008.HK) [1] - Feng Lanxiao has been appointed as a non-executive director and a member of the remuneration committee of the board [1] - Meng Shusen has resigned from his position as a non-executive director and a member of the remuneration committee due to job relocation, effective February 10, 2026 [1]