来源：新浪基金∞工作室 2月3日，港红利（520890）收盘涨1.17%，成交额4971.89万元。 港股通红利低波ETF华泰柏瑞（520890）现任基金经理为李茜。李茜自2024年9月4日管理（或拟管理） 该基金，任职期内收益49.36%。 最新定期报告显示，港股通红利低波ETF华泰柏瑞（520890）重仓股包括首钢资源、兖矿能源、兖煤澳 大利亚、恒生银行、VTECH HOLDINGS、深圳国际、工商银行、远东宏信、中国光大银行、中煤能 源，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）00639首钢资源3.77%192.40万509.17万 01171兖矿能源2.70%42.00万364.94万03668兖煤澳大利亚2.68%15.63万361.69万00011恒生银行2.63%2.56 万354.93万00303VTECH HOLDINGS2.62%6.40万354.64万00152深圳国际2.58%44.70万349.23万01398工 商银行2.56%61.00万346.56万03360远东宏信2.47%45.90万333.32万06818中国光大银行2.42%99.30万 3 ...

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: | 2026年1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: | VTech Holdings Limited | | | | | | 呈交日期: | 2026年2月3日 | | | | | | I. 法定/註冊股本變動 | | | | | | | 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) | 00303 | 說明 | | | | | | | 法定/註冊股份數目 | | 面值 | 法定/註冊股本 | 上月底結存 400,000,000 USD 0.05 USD 20,000,000 增加 / 減少 (-) USD 本月底結存 400,000,000 USD 0.05 USD 20,000,000 本月底法定/註冊股本總額： USD 20,000,000 FF301 第 1 頁 共 10 ...

2025 年 1 月，公司完成对"新加坡辅仁国际学校"的收购，其主营业务为国际剑桥 O-level 和 A-level 课 程教育服务，毕业生主要升学至海外QS 排名前50的知名高校。通过本次收购，不但使公司吸纳了优质 资产、助力业绩改善，同时推动了公司实现多元化、高质量发展，在保持主营业务稳健开展的基础上， 开拓国际业务版图，向海外国家与地区输送高质量、高水准的教育产品与服务。 格隆汇1月30日丨*ST传智（维权）(003032.SZ)公布，预计2025年营业收入36,000万元～40,000万元，亏 损7,000万元～10,000万元，上年同期亏损13,392.34万元，扣非亏损8,200万元～11,200万元。 ...

截至月份: 2025年12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: VTech Holdings Limited 呈交日期: 2026年1月5日 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 I. 法定/註冊股本變動 | 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) | 00303 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 400,000,000 | USD | | 0.05 | USD | | 20,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 400,000,000 | USD | | 0.05 | USD | | 20,000,000 | 本 ...

Group 1: Company Overview - Company is the largest global provider of electronic learning products for infants and preschoolers, as well as the largest manufacturer of home telephones, established in 1976 [1] - For the fiscal year 2025, the company achieved revenue of $2.18 billion, a year-on-year increase of 1.5%, and a net profit attributable to shareholders of $160 million, a year-on-year decrease of 5.9% [1] - Revenue breakdown includes electronic learning products at $830 million (38%), telecommunications products at $420 million (19%), and contract manufacturing services at $930 million (43%), with North America and Europe accounting for 85% of total revenue [1] Group 2: Electronic Learning Products - The company holds a strong position in the electronic learning products sector, with a market share of 12% in the U.S. infant/preschool toy market, which is projected to reach $3.4 billion in 2024 [1] - Revenue from electronic learning products for fiscal year 2025 is $830 million, with a compound annual growth rate (CAGR) of 2% from 2015 to 2025 [1] - The acquisition of LeapFrog in 2016 has successfully complemented the business and contributed to scale growth, with strong brand recognition and user loyalty expected to drive long-term growth, particularly in AI products and online channels [1] Group 3: Telecommunications Products - The global fixed-line telephone industry is in decline, with subscriptions expected to drop from approximately 1.25 billion in 2009 to about 820 million by 2025, reflecting a CAGR of -2.7% [2] - Despite the overall decline, there is still rigid demand in niche markets such as home security and small business communication systems [2] - The company achieved revenue of $420 million from telecommunications products in fiscal year 2025, a year-on-year increase of 37%, primarily due to the acquisition of Gigaset, a leader in the European DECT phone market [2] Group 4: Contract Manufacturing Services - The global EMS (Electronic Manufacturing Services) market is valued at approximately $515 billion, with the company ranked 29th among the top 50 global EMS providers in 2024 [2][3] - Revenue from contract manufacturing services grew from $530 million in 2015 to $930 million in fiscal year 2025, with a CAGR of about 6%, making it the main growth driver for the company [3] - The company has a strong manufacturing advantage and strategic positioning in contract manufacturing, which helps to smooth capacity utilization and expand the customer base [3] Group 5: Financial Outlook - The company is expected to achieve net profits of $150 million, $160 million, and $170 million for the fiscal years 2025, 2026, and 2027, respectively, with year-on-year changes of -4.8%, +7.6%, and +6.8% [3] - A target price of $2.5 billion is set based on a 17X PE for fiscal year 2026, indicating an upside potential of 28% [3]

Investment Rating - The report assigns a "Buy" rating for VTech Holdings, marking its first coverage [3][8]. Core Insights - VTech Holdings is a leading global player in electronic learning products for infants and preschoolers, as well as a major manufacturer of home telephones. The company has a strong brand presence and a diversified product portfolio, including electronic learning toys, telecommunications products, and contract manufacturing services [7][20]. - The company is expected to achieve revenues of $2.177 billion in 2025, with a slight growth of 1.5% year-on-year. However, net profit is projected to decline by 5.9% to $157 million in the same year [2][8]. - The electronic learning products segment is anticipated to generate $830 million in revenue for the fiscal year 2025, with a compound annual growth rate (CAGR) of 2% from 2015 to 2025. The company holds a 12% market share in the U.S. infant and preschool toy market [7][64]. Financial Data and Profit Forecast - Revenue and profit forecasts for VTech Holdings from 2024 to 2028 are as follows: - Revenue: $2,146 million (2024), $2,177 million (2025), $2,006 million (2026), $2,046 million (2027), $2,099 million (2028) - Net Profit: $167 million (2024), $157 million (2025), $149 million (2026), $160 million (2027), $171 million (2028) - Earnings per Share: $0.66 (2024), $0.62 (2025), $0.59 (2026), $0.63 (2027), $0.68 (2028) [2][8]. Business Segments - **Electronic Learning Products**: This segment is a key growth driver, with a strong brand and high customer loyalty. The U.S. market for educational toys is projected to grow significantly, driven by parents' demand for quality educational products [7][64][56]. - **Telecommunications Products**: Despite a declining global fixed-line market, VTech's telecommunications segment is expected to grow by 37% in 2025, primarily due to the acquisition of Gigaset, which enhances its product offerings and market reach [7][11][19]. - **Contract Manufacturing Services**: This segment has shown steady growth, with revenues expected to rise from $530 million in 2015 to $930 million in 2025, reflecting a CAGR of approximately 6% [7][19]. Market Position and Competitive Advantage - VTech has established a strong market position in the electronic learning products sector, with significant barriers to entry for competitors. The company has successfully integrated acquisitions to enhance its product offerings and expand its market presence [7][11][60]. - The telecommunications segment benefits from a stable demand for home security and communication systems, positioning VTech favorably against market perceptions of being in a declining industry [11][19]. Dividend Policy - VTech has maintained a high dividend payout ratio, consistently returning over 90% of its net profits to shareholders since 2009, indicating strong shareholder returns [8][19].

免責聲明 | 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告的內容概不負責，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 | | | --- | --- | | 公告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。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | VTech Holdings Limited | | 股份代號 | 00303 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至二零二五年九月三十日止六個月之中期股息 | | 公告日期 | 2025年12月10日 | | 公告狀態 | 更新公告 | | 更新/撤回理由 以港元派發截至二零二五年九月三十日止六個月之中期股息的匯率 | | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2026年3月31日 | | 宣派股息的報告期末 | 2025年9月30日 | | 宣派股息 | 每 股 0.17 USD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | ...

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11月30日 | | 狀態: | | 新提交 | 致：香港交易及結算所有限公司 公司名稱: VTech Holdings Limited 呈交日期: 2025年12月2日 I. 法定/註冊股本變動 本月底法定/註冊股本總額： USD 20,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 | 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) | 00303 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 400,000,000 | USD | | 0.05 | USD | | 20,000,000 | | 增加 / 減少 (-) | | | | ...

VTech Holdings Limited 偉易達集團* Notification of Publication of 2025/2026 Interim Report ("Current Corporate Communication") and Arrangements on Electronic Dissemination of Corporate Communications (Incorporated in Bermuda with limited liability) ( 於百慕達註冊成立之有限公司 ) (Stock Code 股份代號：303) Dear Non-registered Shareholder(s), 2 December 2025 Should you have any queries relating to this letter, please call the telephone hotline of the Company at (852) 2667 3221 during business hours from 9:00 a.m. to 6:00 p.m., Mond ...

VTech Holdings Limited 偉易達集團* ( 於百慕達註冊成立之有限公司 ) (Stock code 股份代號：303) 各位登記股東： 二零二五╱二零二六中期報告書（「本次公司通訊」）之刊發通知 及以電子方式發布公司通訊之安排 本次公司通訊之刊發通知 偉易達集團*（「本公司」）本次公司通訊的英文版和中文版已上載於本公司網站 www.vtech.com 及香港聯合交易所有限公司（「聯交所」） 網站 www.hkexnews.hk。如 閣下欲收取本次公司通訊的印刷本，請以書面方式通知本公司的香港股份過戶登記分處（「香港股份過戶登記 處」）香港中央證券登記有限公司，地址為香港灣仔皇后大道東 183 號合和中心 17M 樓，或電郵至 investor_relations@vtech.com，本公司在收 到 閣下的要求後，將立即向 閣下免費發送本次公司通訊的印刷本。 以電子方式發布公司通訊之安排 根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 2.07A 條以電子方式發布公司通訊規定，本公司已採用以電子方式發布公司通 訊（「公司通訊」）之安排，該公司通訊指本公司為向其任何證券持有人或投資大 ...