Core Viewpoint - Yidu International Holdings (00259.HK) announced that its associate company, Suzhou Qingyue, received a "Notice of Investigation" from the China Securities Regulatory Commission (CSRC) regarding suspected false records in its periodic financial reports [1] Group 1 - Suzhou Qingyue holds approximately 28.08% of its shares listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board [1] - The company will fully cooperate with the CSRC's investigation [1] - Suzhou Qingyue's business operations remain normal [1]

智通财经APP讯，亿都(国际控股)(00259)发布公告，苏州清越(本集团联营公司，其股份于上交所科创板 上市，本集团持有该公司约 28.08%的股权)于2025年11月1日公告，已收到中国证监会就苏州清越定期 财务报告中涉嫌虚假记载发出的"立案告知书"。 苏州清越进一步公布，将对中国证监会的调查予以全面配合。此外，苏州清越的业务保持正常运营。 ...

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，概不對因本公佈全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 YEEBO (INTERNATIONAL HOLDINGS) LIMITED 億都（國際控股）有限公司 （於百慕達註冊成立之有限公司） 中國證監會對蘇州清越下發立案告知書 本公佈乃由本公司根據上市規則第13.09條以及證券及期貨條例第XIVA部項下的 內幕消息條文而發出。 蘇州清越（本集團聯營公司，其股份於上交所科創板上市，本集團持有該公司約 28.08%的股權）於二零二五年十一月一日公告，已收到中國證監會就蘇州清越定 期財務報告中涉嫌虛假記載發出的「立案告知書」。 蘇州清越進一步公佈，將對中國證監會的調查予以全面配合。此外，蘇州清越的 業務保持正常運營。 蘇州清越於二零二五年十一月一日就所述事件發佈的中文公告可通過上交所網站 ( www.sse.com.cn )查閱。 本公司股東及有意投資者於買賣本公司股份時務請審慎行事。 （股份代號：259） 「證券及期貨條例」 指 香港法例第571章證券及期貨條例 ...

Core Viewpoint - BYD's 3Q25 earnings showed a quarter-on-quarter recovery, although the pace was slower than expected, supported by its industry-leading technologies and lessons learned from pricing strategy and inventory management [1][2]. Financial Performance - BYD's 3Q25 revenue decreased by 3% year-on-year, with a 2% decline in sales volume [2]. - Gross profit margin (GPM) in 3Q25 widened by 0.7 percentage points quarter-on-quarter but narrowed by 2.5 percentage points year-on-year to 17.6%, which was below forecasts [2]. - Net profit rose by 23% quarter-on-quarter but fell by 33% year-on-year to RMB 7.8 billion in 3Q25, translating to a net profit per vehicle of approximately RMB 7,000 [2]. Future Outlook - BYD is reducing dealer inventories, which may enhance sales volume in 4Q25 [3]. - The FY25 sales volume forecast has been revised down from 4.9 million units to 4.61 million units, with an estimated 1.34 million units for 4Q25 [3]. - GPM is expected to gradually recover to 18.0% in 4Q25, with net profit per vehicle projected to rise to about RMB 7,700 [3]. - The decline in profitability since 2Q25 is attributed to increased competition in China, with other automakers launching competitive PHEVs [3]. - BYD's introduction of advanced technologies in 2025 is anticipated to support future sales and earnings, with projected sales volumes of 5.25 million and 5.8 million units in FY26 and FY27, respectively [3]. - Net profits are expected to increase by 30% and 20% year-on-year to RMB 43.8 billion and RMB 52.5 billion in FY26 and FY27, respectively [3]. Valuation - The target price for BYD's H-shares has been adjusted from HK$140 to HK$125, based on a 20x FY27E P/E ratio [4]. - The A-share target price is set at RMB 125, reflecting an A/H premium of 8% [4].

Core Insights - ST Bailing (002592.SZ) reported a revenue of 168 million yuan for Q3 2025, representing a year-on-year increase of 7.45% [1] - The net profit for Q3 2025 reached 36.6492 million yuan, showing a significant year-on-year growth of 81.03% [1] - For the first three quarters of 2025, the company achieved a total revenue of 451 million yuan, which is a 4.96% increase compared to the same period last year [1] - The net profit for the first three quarters was 93.4249 million yuan, reflecting an impressive year-on-year growth of 82.71% [1]

Core Viewpoint - Yidu International Holdings (00259) reported a loss attributable to owners of approximately RMB 13 million for the third quarter of 2025, with a total loss of approximately RMB 43 million for the first three quarters of 2025 [1] Financial Performance - The loss for Q3 2025 is approximately RMB 13 million [1] - The cumulative loss for the first three quarters of 2025 amounts to approximately RMB 43 million [1]

Core Points - The company Yidu (International Holdings) reported a loss attributable to Suzhou Qingyue of approximately RMB 13 million for the quarter ending September 30, 2025 [1] - For the nine months ending September 30, 2025, the loss attributable to Suzhou Qingyue amounted to approximately RMB 43 million [1]

（股份代號：259） 蘇州清越截至二零二五年九月三十日止季度 未經審核業績 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。 YEEBO (INTERNATIONAL HOLDINGS) LIMITED 億都（國際控股）有限公司 （於百慕達註冊成立之有限公司） 釋義 公司秘書 劉紹基 香港，二零二五年十月三十日 本公佈由本公司根據上市規則第13.09條及證券及期貨條例第XIVA部之內幕消息 條文發出。 於本公佈日期，本公司之董事會包括執行董事方仁德先生、李國偉先生、梁子權 先生及張偉文先生；及獨立非執行董事朱知偉先生、劉源新先生及劉紀美教授。 蘇州清越（本集團擁有約28.08%權益之聯營公司）於二零二五年十月三十日宣佈其 截至二零二五年九月三十日止季度之未經審核業績。截至二零二五年九月三十日 止季度，蘇州清越擁有人應佔虧損約為人民幣13,000,000元（相等於約14,000,000 港元）。截至二零二五年九月三十日止九個月，蘇州清越擁有人應佔虧損約為人 ...

Core Viewpoint - Yidu International (00259) experienced a significant decline of over 23% in its stock price, closing at 4.51 HKD with a trading volume of 58.31 million HKD, amidst the backdrop of the successful listing of Muxi Technology on the Sci-Tech Innovation Board, marking a notable event in the domestic high-performance GPU sector [1] Group 1: Company Performance - Yidu International's stock price has doubled over the past two months, driven by market speculation surrounding Muxi Technology [1] - The company's stock fell by 22.38% as of the latest report, indicating a sharp market reaction [1] Group 2: Industry Developments - Muxi Technology has officially passed the listing committee review for the Sci-Tech Innovation Board, aiming to raise funds for the development and industrialization of new high-performance general-purpose GPUs and AI inference GPUs [1] - The funding will also support high-performance GPU technology research for emerging applications and frontier fields [1] - Suanfeng Information, a wholly-owned subsidiary of Yidu International, is a core customer and shareholder of Muxi Technology, highlighting the interconnectedness within the industry [1] - At the WAIC exhibition, Suanfeng Information collaborated with multiple institutions, including Muxi Technology, to develop the domestic high-density computing system known as Shanghai Cube [1]

Core Viewpoint - Yidu International (00259) experienced a significant decline of over 23% in its stock price, closing at 4.51 HKD with a trading volume of 58.31 million HKD, amidst news of Muxi Technology's successful listing on the Sci-Tech Innovation Board, marking a notable event in the domestic high-performance GPU sector [1]. Group 1: Company Developments - Muxi Technology has officially passed the review of the Sci-Tech Innovation Board, aiming to raise funds primarily for the research and industrialization of new high-performance general-purpose GPUs, next-generation AI inference GPUs, and high-performance GPU technology for emerging applications [1]. - Yidu International's stock price has doubled over the past two months, driven by market speculation surrounding Muxi Technology [1]. Group 2: Industry Context - Yidu International's wholly-owned subsidiary, Sannong Information, is a core customer and shareholder of Muxi Technology, which is recognized as a leading domestic AI chip company [1]. - At the WAIC exhibition, Sannong Information collaborated with Muxi Technology and several institutions to develop the domestic high-density computing system, Shanghai Cube [1].