Group 1 - The stock of Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. (*ST Suwu) closed at 0.95 yuan on September 18, 2025, with a market capitalization of 675 million yuan, reflecting a 2.15% increase from the previous trading day [1] - The stock experienced a trading volume of 28.05 million yuan and a turnover rate of 4.14% on the same day [1] Group 2 - Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. issued its eleventh risk warning regarding the potential for major illegal forced delisting due to suspected violations of information disclosure [2] - The company has been under investigation by the China Securities Regulatory Commission (CSRC) since February 26, 2025, for alleged violations [2] - The company’s subsidiaries were found to have inflated revenue, costs, and profits through transactions with related companies, with inflated revenues reported from 2020 to 2023 totaling approximately 494.26 million yuan, 468.51 million yuan, 430.75 million yuan, and 376.66 million yuan, representing 26.46%, 26.39%, 21.26%, and 16.82% of the respective reported revenues [2] - The inflated total profits during the same period amounted to approximately 14.58 million yuan, 20.27 million yuan, 19.92 million yuan, and 21.22 million yuan [2] - The stock has been subject to delisting risk warnings since July 14, 2025, and if formal penalties confirm delisting criteria, the stock will be terminated from listing [2]

Core Viewpoint - Melco International Development (00200) has announced a new operational agreement for its subsidiary, Melco Leisure, with Zhi Zhi Imaging, focusing on establishing a private hospital specializing in imaging and diagnostic medical services at the Melco Leisure Integrated Resort, effective from January 1, 2025 [1] Group 1 - The operational agreement grants Zhi Zhi Imaging the rights to operate the private hospital within the Melco Leisure Integrated Resort [1] - The initial term of the agreement will commence from the transaction start date, tentatively set for October 1, 2025, and will last until November 30, 2034 [1] - The agreement includes provisions for two renewal periods, each lasting five years, subject to mutual consent from both parties [1]

Core Viewpoint - The company Melco International Development Limited (00200) has entered into an operational agreement with Zhi Zhi Imaging for a private hospital focused on imaging and diagnostic medical services at the Studio City resort, effective from January 1, 2025 [1] Group 1 - The agreement grants Zhi Zhi Imaging the rights to operate the private hospital within the Studio City integrated resort [1] - The initial term of the agreement is from the start date of the transaction, tentatively set for October 1, 2025, until November 30, 2034 [1] - The agreement can be renewed for two additional terms, each lasting five years, upon mutual consent of the parties involved [1]

格隆汇9月16日丨新濠国际发展(00200.HK)宣布，于2025年9月16日，公司的附属公司新濠影汇商业与卓 智影像订立新濠影汇营运协议，自2025年1月1日起生效，据此，新濠影汇商业授予卓智影像权利在新濠 影汇综合度假村经营一所专注于影像及诊断医疗服务的私家医院，协议初步期限自交易开始日期(暂定 为2025年10月1日)起至2034年11月30日止，经订约各方相互同意可重续两期，每期为五年。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何 部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 新濠國際發展有限公 司 （於香港註冊成立之有限公司） 網址：www.melco-group.com （股份代號：200） 公佈 持續關連交易 新濠影滙營運協議 董事會欣然宣佈，於二零二五年九月十六日，本公司之附屬公司新濠影匯商業 與卓智影像訂立新濠影滙營運協議，自二零二五年一月一日起生效，據此，新 濠影匯商業授予卓智影像權利在新濠影滙綜合度假村經營一所專注於影像及診 斷醫療服務之私家醫院，協議初步期限自交易開始日期（暫定為二零二五年十 月一日）起至二零三四年十一月三十日止，經訂約各方相互同意可重續兩期，每 期為五(5)年。 上市規則之涵義 於本公佈日期，卓智影像由Zedra Asia Limited間接持有約40.63%權益，而Zedra Asia Limited為一個全權家族信託之受託人，該信託之受益人包括何猷龍先生及 其家庭成員。因此，根據上市規則第十四A章，卓智影像為本公司主席、行政總 裁兼執行董事 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 新濠國際發展有限公司 呈交日期: 2025年9月4日 I. 法定/註冊股本變動 不適用 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00200 | 說明 | 不適用 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 2,275,025,632 | | | | 2,275,025,632 | | 增加 / 減少 (-) | | | 0 | | | | | | 本月底結存 | | | 2,275,025,632 | | 0 | | 2,275,025,6 ...

Core Viewpoint - *ST Suwu (600200.SH) has experienced significant stock price volatility, with a shift from a limit down to a limit up on September 2, indicating potential irrational speculation and multiple delisting risks [1] Financial Performance - For the first half of 2025, the company reported a net profit attributable to shareholders of -44.42 million yuan, representing a 281.63% decrease compared to the same period last year [1] Regulatory Issues - The company received an administrative penalty notice from the China Securities Regulatory Commission on July 13, 2025, citing inflated revenue, costs, and profits, with false records in annual reports from 2020 to 2023, which may lead to mandatory delisting [1] Operational Risks - The company faces multiple risks, including significant fund occupation by the controlling shareholder, complete freezing of shares held by the controlling shareholder, and the termination of exclusive agency agreements for medical beauty products, resulting in business stagnation [1] Delisting Risks - There are various delisting risks for the company, including financial delisting, par value delisting, and mandatory delisting due to serious violations [1]

Group 1 - The core viewpoint of the report indicates that Macau's gaming revenue (GGR) reached a post-pandemic high in August, growing 12% year-on-year to MOP 22.2 billion, aligning with market expectations [1] - Compared to pre-pandemic levels, August's gaming revenue has recovered to 91% of the figures [1] - The report suggests that the performance in August reflects a turning point for the Macau gaming industry, driven by wealth effects and ample liquidity in the Hong Kong market [1] Group 2 - The company anticipates that the strong momentum will continue for some time, projecting a year-on-year growth of 15% in gaming revenue and 21% in EBITDA for the first quarter of next year [1] - In terms of stock recommendations, the company prefers Galaxy Entertainment and MGM China, with target prices set at HKD 54 and HKD 23 respectively [1] - Sands China is the second choice with a target price of HKD 24.5, all rated as "buy," while Melco International Development is rated as "sell" with a target price of HKD 4.5 [1]

Core Viewpoint - The Macau gaming sector shows strong performance with record monthly gross gaming revenue and increased tourist arrivals, indicating a positive outlook for the industry [1] Group 1: Gaming Revenue - Macau's gross gaming revenue for August reached 22.16 billion MOP, marking a new monthly high for the year, with a month-on-month increase of 0.14% and a year-on-year increase of 12.2% [1] - From January to August, the total gross gaming revenue amounted to 163.05 billion MOP, reflecting a year-on-year growth of 7.2% [1] Group 2: Tourist Arrivals - The Macau Public Security Police reported that the number of inbound tourists during the summer of 2025 (July to August) reached 7.68 million, averaging 123,000 visitors per day, which is a year-on-year increase of 15.2% [1] Group 3: Stock Performance - Major gaming stocks in Hong Kong saw gains, with SJM Holdings up 2.40%, Galaxy Entertainment up 2.14%, and Sands China up 1.29% among others [1]

Group 1 - The core viewpoint of the article highlights the significant increase in the stock price of Melco International Development, which rose over 14%, leading the gains in Macau gaming stocks [1] - Melco International Development reported a net revenue of HKD 19.965 billion for the six months ending June 30, 2025, representing a year-on-year increase of 12.38% [1] - The company achieved a profit attributable to shareholders of HKD 351 million, marking a turnaround from a loss in the previous year, with basic earnings per share of HKD 0.18 [1] Group 2 - The Macau hotel and tourism industry anticipates a boost in tourism due to upcoming major events such as the National Day Golden Week, the 15th National Games, and the Grand Prix, which are expected to drive visitor numbers close to 2019 levels [1] - Analysts suggest that the concentration of large events in Macau during the second half of the year will directly enhance tourist volume and stimulate gaming demand, providing fundamental support for gaming stocks [1]