(Incorporated in Hong Kong with limited liability) SHARE OPTION SCHEME adopted on 28 June 2022 and amended on [ ] __________________________________________________ __________________________________________________ YUNFENG FINANCIAL GROUP LIMITED 雲鋒金融集團有限公司 (Incorporated in Hong Kong with limited liability) YUNFENG FINANCIAL GROUP LIMITED 雲鋒金融集團有限公司 SHARE OPTION SCHEME 1. DEFINITIONS 1.01 In this Scheme the following words and expressions have the following meanings. | "Adoption Date" | means 28 June 2022 ...

Adopted pursuant to an ordinary resolution of the shareholders of Yunfeng Financial Group Limited at the extraordinary general meeting held on [ ] 2025 (Incorporated in Hong Kong with limited liability) SHARE AWARD SCHEME RULES OF YUNFENG FINANCIAL GROUP LIMITED 雲鋒金融集團有限公司 | | PAGE | | --- | --- | | 1. | Definitions and Interpretations 1 | | 2. | Purposes, Conditions, Duration and Administration 6 | | 3. | Operation of the Scheme 9 | | 4. | Lapsed Share Awards 21 | | 5. | Scheme Mandate Limit and Service Pr ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之持牌證券交易商或註冊證券機構、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下全部之雲鋒金融集團有限公司股份，應立即將本通函及隨附之代表委任表格 交予買主或承讓人，或經手買賣或轉讓之銀行、持牌證券交易商或註冊證券機構或其他代理，以便轉 交買主或承讓人。 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通函之內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不會因本通函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。 Yunfeng Financial Group Limited 雲 鋒 金 融 集 團 有 限 公 司 （ 於 香 港 註 冊 成 立 之 有 限 公 司 ） （股份代號：376） 建議 (1)採納二零二五年股份獎勵計劃； (2)修訂二零二二年購股權計劃；及 (3)修訂發行股份及購回股份之一般授權 及 股東特別大會通告 本封面所用詞彙與本通函所界定者具有相同涵義。 雲鋒金融集團有限公司謹訂於二零二五年十二月十八日（星期四）下午三時正（或如黑色暴雨警告信號 ...

Core Viewpoint - Yunfeng Financial Group and its subsidiary, Wantong Insurance, announced an emergency donation of 10 million HKD to support residents affected by the fire in Tai Po, Hong Kong, for medical treatment, emergency accommodation, and transitional living assistance [1] Group 1 - The donation amount is 10 million HKD, which is aimed at providing critical rescue assistance [1] - The funds will be allocated for medical treatment, emergency accommodation, and transitional living support for the affected residents [1]

Core Viewpoint - A major fire occurred in Hong Kong's Tai Po district, resulting in significant casualties and prompting various sectors to respond with support and donations for emergency relief efforts [1] Group 1: Insurance Industry Response - China Ping An initiated a donation of 10 million HKD for emergency relief and post-disaster recovery efforts, providing essential supplies and financial support to affected residents [1] - Sunshine Insurance Group announced an emergency donation of 10 million HKD to assist in the fire rescue efforts in Tai Po [1] - Waterdrop Inc. pledged a donation of 1 million HKD to support the rescue efforts for residents impacted by the fire [1] - Yunfeng Financial Group and its subsidiary, Wantong Insurance, committed to a donation of 10 million HKD specifically for medical treatment, emergency housing, and transitional living assistance for affected residents [1] - The Fosun Public Welfare Foundation, in collaboration with Fosun International and other affiliated companies, donated 10 million HKD for urgent rescue and post-disaster reconstruction efforts [1]

Group 1 - Cryptocurrency concept stocks experienced significant gains, with notable increases in shares such as Mistrategy (02440) up 7.26% to HKD 2.66, Yunfeng Financial (00376) up 5.88% to HKD 3.78, and Huajian Medical (01931) up 5.99% to HKD 6.72 [1] - The cryptocurrency market is witnessing a strong rebound, with Bitcoin surpassing USD 91,000, currently priced at USD 90,913.3 per coin, reflecting a nearly 4% increase over 24 hours, while Ethereum is priced at USD 3,020.77 per coin, up 2.57% [1] - According to CME FedWatch, the probability of a 25 basis point rate cut by the Federal Reserve in December has risen to 85%, indicating a shift in market expectations [1] Group 2 - JPMorgan economists have revised their predictions, now expecting the Federal Reserve to initiate a rate cut in December, reversing their previous assessment that a cut would be delayed until January [1]

Group 1 - Cryptocurrency concept stocks experienced a significant rise, with notable increases in shares such as Mistral Strategies (02440) up 7.26% to HKD 2.66, Yunfeng Financial (00376) up 5.88% to HKD 3.78, and Huajian Medical (01931) up 5.99% to HKD 6.72 [1] - The cryptocurrency market is witnessing a strong rebound, with Bitcoin surpassing USD 91,000, currently priced at USD 90,913.3, reflecting a nearly 4% increase over 24 hours, while Ethereum is priced at USD 3,020.77, up 2.57% [1] - According to CME's FedWatch, the probability of a 25 basis point rate cut by the Federal Reserve in December has risen to 85%, indicating a shift in market expectations [1]

Core Viewpoint - The Hong Kong stock market saw a collective rebound in Bitcoin-related stocks, indicating a positive sentiment in the cryptocurrency sector [1] Group 1: Company Performance - OK Blockchain (01499.HK) increased by 5.24%, reaching HKD 0.201 [1] - Boyaa Interactive (00434.HK) rose by 4.66%, trading at HKD 3.82 [1] - Yaocai Securities Financial (01428.HK) gained 4.64%, with a price of HKD 7.22 [1] - Yunfeng Financial (00376.HK) saw a rise of 4.39%, priced at HKD 3.57 [1]

Core Viewpoint - Bitcoin-related stocks experienced a collective rebound following significant volatility in the cryptocurrency market, with Bitcoin rebounding to over $87,000 after weeks of decline, although still down over 30% from its October peak of $126,000 [1][1][1] Group 1: Market Performance - Okex Chain (01499) rose by 5.24% to HKD 0.201, Boyaa Interactive (00434) increased by 4.66% to HKD 3.82, Yaocai Securities (01428) gained 4.64% to HKD 7.22, and Yunfeng Financial (00376) climbed 4.39% to HKD 3.57 [1][1][1] Group 2: Economic Indicators - New York Fed President Williams hinted at a 70% probability of a rate cut in December, indicating a shift in market expectations regarding Federal Reserve actions [1][1][1] - Goldman Sachs noted that concerns over economic growth may be overstated, and liquidity conditions are expected to improve, with increased focus on AI productivity themes in client discussions [1][1][1] Group 3: Investment Sentiment - Many clients view Bitcoin and other high-beta assets as indicators of risk appetite, suggesting that an improvement in Bitcoin's performance could signal a potential rebound in U.S. equities by year-end [1][1][1]

Investment Rating - The report does not explicitly state an investment rating for Yunfeng Financial (376 HK) Core Insights - Yunfeng Financial operates as an innovative fintech enterprise with core businesses in insurance, securities, asset management, and fintech, leveraging a "Web2 + Web3" dual ecosystem strategy [2][15] - The company aims to integrate Web2 and Web3 business synergies to enhance customer value through cross-selling and expand its customer base [20] - The strategic vision is to build a next-generation Web3 financial service ecosystem, promoting the concept of "Tokenize Everything, Connect the Globe" [20] Summary by Sections Shareholder Structure - Core shareholders include Yunfeng Financial Holdings Limited (45.02% stake) and MassMutual (23.65% stake), with a partnership with Ant Group [3][16] Licensing and Regulatory Framework - The group holds Hong Kong SFC Licenses Type 1, 4, and 9, and has upgraded its Type 1 License to support virtual asset trading and management services [17][3] Web3 Strategic Focus - The company has identified four core strategic focuses for its Web3 initiatives, including the tokenization of real-world assets and the establishment of a compliant virtual asset trading platform [18][21] Competitive Advantages - Yunfeng Financial's competitive advantages include a robust enterprise ecosystem, a stable core insurance business, early blockchain infrastructure investments, and a strong talent pool in Web3 [5][19] Customer Engagement Strategy - The company plans to utilize its existing client base and sales network, including 4,000 insurance agents, to cross-sell virtual asset trading services [20]