Core Viewpoint - Hallgain Management Limited has increased its stake in Kwan Tong Group (00148) by purchasing 400,000 shares at an average price of 26.5969 HKD per share, totaling approximately 10.6388 million HKD, raising its ownership to about 477 million shares, which represents 43.05% of the company [1] Summary by Category - **Share Purchase Details** - Hallgain Management Limited acquired 400,000 shares of Kwan Tong Group at an average price of 26.5969 HKD per share [1] - The total investment amounted to approximately 10.6388 million HKD [1] - **Ownership Structure** - Following the purchase, Hallgain Management Limited's total shareholding increased to approximately 477 million shares [1] - The new ownership percentage stands at 43.05% [1]

Group 1 - Hallgain Management Limited increased its stake in Kwan Tong Group (00148) by 400,000 shares at an average price of HKD 26.5969 per share, totaling approximately HKD 10.6388 million [1] - After the increase, Hallgain Management's total shareholding is approximately 477 million shares, representing a stake of 43.05% [1]

Group 1 - Hallgain Management Limited increased its stake in Kwan Tong Group (00148) by 400,000 shares at an average price of HKD 26.5969 per share, totaling approximately HKD 10.6388 million [1] - After the increase, Hallgain Management Limited's total shareholding is approximately 477 million shares, representing a 43.05% ownership stake [1]

Group 1 - Hallgain Management Limited increased its stake in Kwan Tong Group (00148) by 400,000 shares at an average price of HKD 26.5969 per share, totaling approximately HKD 10.6388 million [1] - Following the increase, Hallgain Management Limited's total shareholding in Kwan Tong Group reached approximately 477 million shares, representing a holding percentage of 43.05% [1]

Group 1: Nvidia's New Product and Market Impact - Nvidia has confirmed the use of M9 materials in its next-generation product Rubin, with the CPX and midplane PCBs utilizing M9 CCL, amid a shortage of Q cloth [1] - The Rubin CPX is designed for ultra-long context AI inference tasks, featuring a decoupled inference architecture and significant hardware changes, including a wireless cable architecture [1] - The market potential for CPX, midplane, and orthogonal backplane is nearly 100 billion [1] - By 2027, Nvidia's AI PCB market is projected to reach $6.96 billion, a 142% increase from 2026 [1] Group 2: PCB Industry Growth Driven by AI - The global PCB market is expected to grow from $62 billion in 2020 to $75 billion by 2024, with a compound annual growth rate of 4.9% [2] - The value of PCBs in AI servers is significantly higher than in traditional servers, leading to a substantial increase in demand for high-performance PCBs [3] - Low dielectric constant and low loss factor materials are deemed most suitable for high-performance applications, with Q cloth outperforming second-generation cloth [3] Group 3: Recommendations for M9 and Related PCB Manufacturers - Strong recommendations have been made for M9 upstream and related PCB manufacturers, with companies like 建滔积层板 reporting a revenue increase of 11% year-on-year [4] - 建滔集团 is expanding its production capabilities for AI-related products, with a projected investment of approximately 800 to 1,000 million RMB for a new production line [4] - The demand for copper-clad laminates and printed circuit boards is expected to rise significantly due to the rapid development of AI technologies [4]

Core Viewpoint - Zhang Guorong, an executive director of Kwan Hung Group (00148.HK), reduced his shareholding by selling 754,500 shares at an average price of HKD 27.39 per share, totaling approximately HKD 20.67 million, resulting in a decrease in his ownership percentage from 1.49% to 1.42% [1][2]. Summary by Category - **Shareholding Reduction** - Zhang Guorong sold 754,500 shares on October 21, 2025 [1]. - The average selling price was HKD 27.39 per share, amounting to about HKD 20.67 million [1]. - Following the sale, Zhang's total shareholding is now 15,805,905 shares [1][2]. - **Ownership Percentage** - Zhang's ownership percentage decreased from 1.49% to 1.42% after the transaction [1].

Core Viewpoint - The executive director of Kwan Hung Holdings, Mr. Chan Mau-seng, has resigned from his position effective October 17, 2025, to focus more on personal matters [1] Company Summary - Kwan Hung Holdings (00148) announced the resignation of its executive director, indicating a shift in leadership [1]

Core Viewpoint - JianTao Group (00148.HK) announced the resignation of executive director Chen Maosheng, effective from October 17, 2025, due to his intention to devote more time to personal matters [1]. Summary by Categories Company Announcement - JianTao Group has confirmed the resignation of executive director Chen Maosheng [1]. Leadership Changes - The resignation is set to take effect on October 17, 2025 [1]. - Chen Maosheng's decision is motivated by a desire to focus on personal matters [1].

Core Points - Executive Director Mr. Chan Mau-seng of Kwan Tong Group (00148) has resigned from his board position effective October 17, 2025, to dedicate more time to personal matters [1] Company Summary - Kwan Tong Group is undergoing a leadership change with the resignation of a key executive, which may impact its strategic direction and operations [1] - The resignation is attributed to the executive's desire to focus on personal commitments, indicating a potential shift in the company's management dynamics [1]

執行董事 張國榮先生 （主 席） 鄭永耀先生 （董 事 總 經 理） 張廣軍先生 何燕生先生 張家成先生 何建芬女士 KINGBOARD HOLDINGS LIMITED 建滔集團有限公司 獨立非執行董事 （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） （股 份 代 號：148） 張明敏先生 莊堅琪醫生 陳永棋先生 鍾偉昌先生 董事名單及其角色和職能 董 事 會 設 有 三 個 委 員 會。下 表 提 供 各 董 事 會 成 員 在 該 等 委 員 會 中 所 擔 任 職 位 的 資 料。 建滔集團有限公司董事（「董 事」）會（「董事會」）成 員 載 列 如 下： 附 註： 主 席 相關董事委員會主席 成 員 相關董事委員會成員 香 港，二 零 二 五 年 十 月 十 七 日 | | 董事委員會 | | | | --- | --- | --- | --- | | 董事 | 審核委員會 | 薪酬委員會 | 提名委員會 | | 張明敏先生 | 成員 | 成員 | 主席 | | 莊堅琪醫生 | 成員 | 主席 | 成員 | | 鍾偉昌先生 | 主席 | 成員 | 成員 | | 何建芬女士 | | | 成 ...