Summary of Key Points Core Viewpoint - As of July 7, a total of 102 stocks reached their 52-week highs, indicating a positive market trend with notable performances from specific companies such as China National Cultural Industry, Shoujia Technology, and Yunzhisheng [1]. Group 1: Stocks Reaching 52-Week Highs - China National Cultural Industry (00745) achieved a closing price of 0.430 with a peak of 0.435, marking a high rate of 24.29% [1]. - Shoujia Technology (00103) closed at 0.550, reaching a high of 0.610, reflecting a 17.31% increase [1]. - Yunzhisheng (09678) had a closing price of 386.800 and a peak of 391.600, with a high rate of 15.65% [1]. - Other notable stocks include Charoen Pokphand International (03839) at 15.09%, Japan Kyosei (00627) at 13.92%, and China San San Media (08087) at 11.05% [1]. Group 2: Additional Stocks with Significant Increases - Green Tea Group (06831) reached a high of 10.33% with a closing price of 9.080 [1]. - Beihai Kangcheng-B (01228) and Pinchuang Holdings (08066) both achieved a high rate of 10.00% [1]. - Other companies with notable increases include Zhongshen Jianye (02503) at 9.45% and Baishida Holdings (01168) at 7.73% [1]. Group 3: Stocks with Lower Performance - The report also highlights stocks that did not perform as well, with some reaching 52-week lows, such as Aidewei Construction Group (06189) with a low rate of -11.11% [3]. - Other underperformers include Macau Legend (01680) at -6.33% and Gu Dou Holdings (08308) at -6.00% [3].

OpenAI首席执行官Sam Altman：随着数据中心生产的自动化，人工智能成本最终将接近电费。 ChatGPT平均一次查询耗电约0.34 瓦时，相当于烤箱一秒钟多一点的耗电量，或高效灯泡几分钟的耗电 量。还会消耗大约0.000085加仑的水，大约是十五分之一茶匙的水。 ...

Core Viewpoint - The arrival of a low interest rate era highlights the importance of dividend assets, particularly in the Hong Kong stock market, where state-owned enterprises play a significant role in dividend distribution [1] Group 1: Dividend Assets in the Market - A-shares are expected to see total dividends exceed 2.4 trillion yuan in 2024, with state-owned enterprises accounting for over 80% of this amount [1] - Hong Kong's central enterprises are positioned as key dividend payers, offering both high yields and valuation advantages [1] - The current trading congestion of Hong Kong dividend assets has decreased, supported by the ongoing pilot programs for long-term capital inflows [1] Group 2: Investment Strategies and Recommendations - The banking sector continues to show mid-to-long-term investment value, with ongoing dividend plans and valuation enhancement initiatives from major banks [1] - High dividend yield and strong asset quality banks are recommended for their absolute return potential and cost-effectiveness in allocation [1] Group 3: Performance of Dividend Indices and ETFs - The leading dividend index in the Hong Kong market is the Hang Seng Hong Kong Stock Connect High Dividend Yield Index, with the corresponding ETF, Bosera (513690), ranking first in both scale and daily trading volume [2] - As of June 4, 2025, the Bosera ETF reached a new high in price and size, totaling 4.043 billion yuan [2] Group 4: Advantages of the Bosera ETF - The Bosera ETF has a leading dividend yield of 8.02%, significantly higher than its peers, making it an attractive option for investors seeking stable income [4] - The top holdings of the ETF focus on energy and financial sectors, with notable performance in recent months, showcasing both cyclical resilience and defensive attributes [5] - The ETF employs strict risk control measures, excluding stocks with significant price declines and ensuring liquidity, thus enhancing the investment experience [7]

Group 1 - The Hang Seng High Dividend Yield Index (HSSCHKY) has shown a strong increase of 1.54% as of June 3, 2025, with notable gains in stocks such as China CITIC Bank (00998) up 4.88%, Swire Properties (01972) up 3.94%, and Agricultural Bank of China (01288) up 3.41% [2] - The Bosera Hang Seng High Dividend ETF (513690) has risen by 0.72%, with a latest price of 0.99 yuan and a trading volume of 61.74 million yuan [2] - The Bosera Hang Seng High Dividend ETF has a recent scale of 4.005 billion yuan and has seen a net financing amount of 1.201 million yuan in the previous trading day [3] Group 2 - The Bosera Hang Seng High Dividend ETF has achieved a net value increase of 32.41% over the past two years, ranking 120 out of 2187 in the index stock fund category [4] - The ETF has a maximum monthly return of 24.18% since inception, with an average monthly return of 4.99% [4] - The ETF's management fee is 0.50% and the custody fee is 0.10%, with a tracking error of 0.055% over the past six months [4] Group 3 - As of June 2, 2025, the top ten weighted stocks in the Hang Seng High Dividend Yield Index account for 28.55% of the index, including Yanzhou Coal Mining Company (01171) and Cheung Kong Infrastructure Holdings (00008) [5][7] - The weight of the top stock, Yanzhou Coal Mining Company, is 4.39%, while the second, Cheung Kong Infrastructure Holdings, has a weight of 2.66% [7]

智通财经APP获悉，5月30日，香港《稳定币条例》作为全球首个针对法币稳定币的专项立法正式落 地，有效填补了法币稳定币监管空白，加快推动稳定币合规化发展。 此前，香港立法会已经在5月21日正式通过该条例草案，用以在香港设立"法币稳定币"发行人的发牌制 度。今年年底前，合规的香港稳定币有望正式落地。香港金管局已公开首批稳定币发行人沙盒名单，包 括圆币创新科技等。 众安在线(06060)：众安在线持股43.43%的众安银行是中国香港首家为稳定币发行方提供储备银行服务 的数字银行；持股8.7%的圆币创新科技是中国香港金管局首批沙盒参与者之一。国金证券指出，众安 银行虚拟资产业务布局深入，有望受益；瑞银指出，市场预期众安将从以下两方面受益：圆币创新科技 估值上升潜力、可观的净利息差。 连连数字（02598）：连连数字通过多层全资子公司间接持有连连国际（LianLian Pay Global Limited） 100%股权。连连国际与圆币科技合作稳定币在跨境支付的场景应用项目。此外连连数字子公司DFX Labs早前已取得香港VATP牌照，正式进军Crypro领域。 电讯盈科（00008）：2024年7月，渣打银行、An ...

截至2025年5月27日收盘，盐 田 港(000088)报收于4.7元，上涨0.21%，换手率0.66%，成交量20.78万 手，成交额9736.7万元。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 当日关注点 交易信息汇总: 主力资金净流出1527.06万元，而散户资金净流入1148.06万元。 公司公告汇总: 盐田港2024年度分红派息方案为每10股派发现金红利1.30元，股权登记日为2025年 6月4日，除权除息日为2025年6月5日。 交易信息汇总 5月27日，盐田港的资金流向显示，主力资金净流出1527.06万元；游资资金净流入379.0万元；散户资金 净流入1148.06万元。 公司公告汇总 深圳市盐田港股份有限公司发布了2024年度分红派息实施公告。根据公告，公司2024年度利润分配方案 为：以现有总股本5,199,483,346股为基数，向全体股东每10股派发现金红利1.30元（含税），分配金额 总计675,932,834.98元。此外，公司将按2024年度公司净利润的10%提取法定盈余公积金113,387,69 ...

Core Viewpoint - The strategic partnership between PCCW Solutions Holdings Limited and Lenovo Group aims to enhance the IT solutions business in the Asia-Pacific region through a significant transaction valued at $613.6 million, which includes both cash and equity components [1][2]. Group 1: Transaction Details - The agreement involves the sale of 80% of PCCW Lenovo Technology Solutions and 20% of PCCW Network Services to Lenovo Group for a total consideration of $613.6 million, with $513.6 million paid in cash and $100 million through equity issuance [1]. - Upon completion, the company will indirectly hold 80% of PCCW Network Services and maintain 100% ownership of its enterprise solutions, while Lenovo will directly own 80% of PCCW Lenovo Technology Solutions and 20% of PCCW Network Services [1]. Group 2: Strategic Benefits - The transaction is expected to leverage the combined strengths of both companies to accelerate the expansion of the IT solutions business in the Asia-Pacific region [2]. - It aims to optimize resource allocation and capture growth opportunities in the IT solutions industry, creating value through synergies from the partnership [2]. - Lenovo Group will gain control over PCCW Lenovo Technology Solutions, enhancing its capabilities in system integration and application development, which are crucial for expanding its IT service offerings [2][3]. Group 3: Market Positioning - The IT solutions business is recognized as a leading IT service provider in the Asia-Pacific region with over 20 years of strong performance [2]. - The partnership allows Lenovo to enhance its service portfolio, expand its customer base, and improve regional and vertical coverage in the IT services market [2]. - The collaboration is strategically significant for Lenovo's long-term development and diversification into the IT services sector, aligning with the trend of digital transformation [2][3].

Core Viewpoint - The Hang Seng High Dividend Yield Index (HSSCHKY) has shown positive performance, with significant increases in constituent stocks, indicating a potential recovery in the Hong Kong real estate market and overall economic stability [2]. Group 1: Market Performance - As of April 25, 2025, the HSSCHKY index rose by 0.85%, with notable increases in stocks such as China Resources Land (4.64%) and China Overseas Development (3.76%) [2]. - The Bosera Hang Seng High Dividend ETF (513690) increased by 1.20%, with a latest price of 0.93 yuan and a trading volume of 16.6197 million yuan [2]. - Over the past year, the Bosera Hang Seng High Dividend ETF has seen an average daily trading volume of 78.9566 million yuan [2]. Group 2: Economic Measures - A recent State Council meeting focused on stabilizing employment and the economy, emphasizing the need to maintain a stable stock market and promote healthy development in the real estate sector [2]. - Despite a slight decline in new home sales and falling second-hand home prices, historical trends suggest that the real estate sector often rebounds before the fundamentals stabilize, supported by strong expectations for new policies [2]. Group 3: ETF Performance Metrics - The Bosera Hang Seng High Dividend ETF has a current size of 3.731 billion yuan, with net inflows remaining balanced recently [3]. - The ETF's net value increased by 22.27% over the past year, with a maximum monthly return of 24.18% since inception [3]. - The ETF's Sharpe ratio for the past year is 1.48, indicating a favorable risk-adjusted return [3]. Group 4: Index Composition - As of April 24, 2025, the top ten weighted stocks in the HSSCHKY index account for 28.32% of the index, with Yanzhou Coal Mining (4.39%) and Hang Lung Properties (3.38%) being the most significant [4][6].

Subscriber Growth - Viu's subscriber base grew by 17% to 15.5 million, with strong growth in Indonesia, Malaysia, and Thailand[4]. - Viu's subscription user base grew by 17% to 15.5 million, with subscription revenue increasing by 15%[25]. - ViuTV's registered user base grew by 6% year-on-year to over 3.2 million, indicating strong engagement among younger audiences[29]. Revenue and Financial Performance - Revenue increased by 3% to HKD 37.557 billion, while EBITDA reached HKD 12.849 billion[5]. - Total revenue for the year ended December 31, 2024, increased to HKD 37,557 million, up from HKD 36,347 million in 2023, representing a growth of 3.3%[63]. - Total revenue (excluding mobile communications product sales) increased by 2% to HKD 32.031 billion, with overall revenue rising by 1% to HKD 34.753 billion[21]. - The revenue from the media business reached HKD 3,515 million in 2024, up from HKD 3,404 million in 2023, marking a growth of about 3.3%[80]. - The external revenue from Hong Kong increased to HKD 29,145 million in 2024, compared to HKD 28,477 million in 2023, reflecting a growth of about 2.3%[83]. EBITDA and Profitability - EBITDA for Hong Kong Telecommunications was HKD 13.743 billion in 2024, reflecting a 3% growth from the previous year[14]. - The EBITDA for the group in 2024 was HKD 12,849 million, slightly up from HKD 12,831 million in 2023, indicating a stable performance[82]. - The overall EBITDA margin for Hong Kong Telecommunications was 40% in 2024, up from 39% in 2023[16]. - Operating profit for the year was HKD 5.388 billion, an 8% increase compared to the previous year[14]. Loss and Net Income - The company reported a significant reduction in loss attributable to equity holders to HKD 300 million for the year[4]. - The net profit for the year decreased to HKD 1,941 million, down from HKD 2,090 million in 2023, reflecting a decline of 7.1%[63]. - The basic and diluted loss per share for the year was HKD 3.88, compared to HKD 6.10 in 2023[63]. - The loss attributable to equity holders of the company narrowed significantly to HKD 300 million, compared to HKD 471 million in the previous year[43]. Dividends - The final dividend declared is HKD 0.2848 per share, totaling an annual dividend of HKD 0.3825 per share[4]. - Proposed final dividend per share is HKD 0.4588, bringing the total annual dividend to HKD 0.7880[22]. - The company proposed a final dividend of HKD 0.2848 per share for the year ending December 31, 2024, consistent with the previous year[55]. Advertising Revenue - Viu's advertising revenue grew by 17% due to the introduction of an AVOD model for connected TV users[7]. - Viu's advertising revenue increased by 17% year-on-year, driven by sponsorships and the introduction of an AVOD model[26]. Operating Costs - Total operating costs increased by 6% year-on-year, amounting to HKD 19.127 billion in 2024[14]. - Operating costs rose by 3% to HKD 5.581 billion, primarily due to increased promotional expenses for OTT services[35]. Customer and Service Growth - Mobile communication service revenue grew by 5% to HKD 11.484 billion in 2024, driven by increased roaming contributions and a growing postpaid customer base[17]. - Roaming revenue increased by 37% year-on-year, reaching 98% of pre-pandemic levels in 2024[17]. - The number of 5G customers reached 1.747 million by the end of 2024, marking a 25% year-on-year growth[17]. - Local data service revenue rose by 6% to HKD 13.552 billion, while local telecom service revenue increased by 3% to HKD 17.350 billion[18]. Capital Expenditure and Debt - Capital expenditure for the year ending December 31, 2024, was HKD 2.341 billion, slightly up from HKD 2.324 billion in 2023, with approximately 95% attributed to Hong Kong Telecommunications[47]. - The group maintained a debt-to-asset ratio of 53% as of December 31, 2024, down from 55% in the previous year[45]. - As of December 31, 2024, the total debt of the group was HKD 52.393 billion, compared to HKD 52.329 billion on December 31, 2023[45]. Employee and Organizational Changes - The group employed over 14,600 staff globally as of December 31, 2024, a decrease from 15,000 employees in 2023[54]. Risk Management - The group has established risk management measures to manage market risks associated with foreign currency and interest rates, with most financing denominated in foreign currencies[49]. - The group has no assets pledged as collateral for bank loans as of December 31, 2024[51].

User Growth and Engagement - Viu achieved a milestone of 11.7 million paid users as of June 30, 2024, with over 110 new titles added during the period, driving subscriber growth[14] - ViuTV's digital membership increased by 6% to 3.2 million, driven by engaging content and unique productions[16] - Viu's paid user base reached 11.7 million, adding over 110 new titles[50] - Viu's paid user base reached 11.7 million, an 11% year-on-year increase, with significant growth in Indonesia, Thailand, and the Middle East[61] Financial Performance - For the six months ending June 30, 2024, the company reported a revenue growth of 5% and EBITDA growth of 1% due to increased contributions from its media business and cost efficiencies[19] - Revenue increased by 5% to HKD 17.698 billion[50] - Total revenue for the six months ended June 30, 2024, was HKD 17,698 million, an increase of 5.0% compared to HKD 16,850 million in 2023[110] - The media business generated external revenue of HKD 1,325 million for the six months ended June 30, 2024, up from HKD 1,146 million in the prior year, marking a growth of around 15.7%[110] - The net profit for the six months ended June 30, 2024, decreased to HKD 351 million, down 31.4% from HKD 512 million in 2023[89] Revenue Breakdown - Hong Kong telecommunications revenue (excluding mobile product sales) rose by 3% to HKD 15.683 billion[50] - OTT business revenue increased by 12% to HKD 1.089 billion[50] - Free TV and related business revenue rose by 23% to HKD 480 million[50] - Mobile communication service revenue grew by 5% to HKD 3,990 million, driven by increased roaming revenue and a net increase in postpaid customers[55] - The external revenue from Hong Kong Telecommunications segment was HKD 16,000 million for the six months ended June 30, 2024, compared to HKD 15,335 million in the same period of 2023, reflecting an increase of approximately 4.3%[110] Cost and Expenses - The cost of sales for the same period rose to HKD 8,939 million, reflecting a 7.8% increase from HKD 8,292 million in 2023[89] - The group's operating costs rose by 5% to HKD 30.87 billion, primarily due to increased promotional costs for OTT services aimed at boosting market penetration and paid subscriptions[70] - The total sales cost, excluding the cost of goods sold, rose slightly from HKD 5,739 million in 2023 to HKD 5,776 million in 2024, an increase of 0.6%[113] EBITDA and Profitability - EBITDA increased by 1% to HKD 5.672 billion[50] - EBITDA for the six months ended June 30, 2024, rose by 3% to HKD 6.168 billion, with an EBITDA margin stable at 37%[58] - The EBITDA for Hong Kong Telecom was HKD 6,009 million, with an EBITDA margin of 37%[54] - The company experienced a 10% increase in operating profit, amounting to HKD 1,824 million[51] Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.0977 per ordinary share for the six months ending June 30, 2024, reflecting a cautious dividend policy aimed at strengthening financial stability[19] - The interim dividend declared for the six months ended June 30, 2024, is HKD 0.0977 per share, unchanged from the previous year[87] Debt and Financing - The total debt as of June 30, 2024, was HKD 563.84 billion, up from HKD 523.29 billion as of December 31, 2023, with a debt-to-asset ratio of 59%[79] - Interest income for the six months ended June 30, 2024, was HKD 68 million, while financing costs rose by 21% to HKD 13.90 billion, leading to a net financing cost increase of 24% to HKD 13.22 billion[73] - The financing costs increased to HKD 1,390 million for the six months ended June 30, 2024, from HKD 1,153 million in the same period of 2023, representing an increase of approximately 20.6%[111] Operational Strategy and Future Outlook - The company is focused on prudent expansion in the video streaming and local television sectors, leveraging the robust foundation of Hong Kong Telecom to drive profit growth[13] - The company plans to continue leveraging its integrated fiber and mobile networks to provide innovative service solutions amid a challenging business environment[54] - The company plans to continue investing in enhancing digital capabilities and expanding the 5G network, considering current market conditions[81] Management and Governance - 唐永博 appointed as Vice Chairman of PCCW in August 2023, bringing extensive telecommunications management experience[29] - Meng Shusen serves as a non-executive director and is currently the Chairman and CEO of China Unicom International, with a strong background in international business[31] - Wei Zhe has over 20 years of experience in investment and operations management, previously serving as CEO of Alibaba Group during its IPO in 2007[32] Share Incentive Plans - The company plans to continue its share incentive program to align the interests of participants with those of shareholders[177] - The share incentive plan includes vesting periods ranging from 1 to 4 years, promoting long-term commitment from participants[177] - The total number of shares awarded under the 2020 plan is 6,141,746 shares, with 3,895,874 shares that have vested[178]