Group 1 - A-share companies are increasingly seeking listings on the Hong Kong Stock Exchange, with over 80 companies having submitted applications this year alone [1][3] - The number of A+H listed companies has reached 160, with 16 companies successfully listing in Hong Kong this year, surpassing the total from the previous five years [2][3] - Major A-share companies that have recently listed include Ningde Times, which raised nearly 40 billion HKD, and others like Sails and Sany Heavy Industry, each raising over 10 billion HKD [2] Group 2 - The sectors attracting A-share companies to Hong Kong include biomedicine, technology, and consumer goods, reflecting investor interest in these areas [3][4] - The Hong Kong Stock Exchange has optimized its listing mechanisms, making it easier for companies to access capital, which is crucial for their growth [4] - The trend of A+H listings is driven by the desire of mainland companies to enter international markets, leveraging Hong Kong's unique position and regulatory environment [5] Group 3 - The Hong Kong Stock Exchange has seen record revenue and net profit in the first three quarters of the year, driven by high trading activity and a surge in new listings [6] - There are currently around 300 listing applications being processed, with half from new economy sectors such as electric vehicles and biotechnology [6] - Despite the overall positive trend, some new listings have faced challenges, with instances of stocks dropping below their issue price on debut, leading to delays in some IPOs [6][7]

Major Events - Hong Kong Stock Exchange (00388) plans to make a strategic investment in Xunqing Settlement Holdings Limited [1] - Lai Kai Pharmaceutical-B (02105) signs an exclusive licensing agreement with Qilu Pharmaceutical for LAE 002 (AFURESERTIB) in China [1] - TECHSTARACQ-Z (07855) is expected to inherit the company Tuda Tong's listing on the main board of the Stock Exchange on December 10 [1] - Superstar Legend (06683) intends to establish a joint venture with Yushu Technology to develop consumer-grade IP robots and IP derivative products [1] - Beijing Enterprises Holdings (00392) plans to acquire 100% equity of Beijing Beiran Special Equipment Inspection and Testing Co., Ltd. for 54.6 million yuan [1] - CSPC Pharmaceutical Group (01093) has its application for the marketing of Pertuzumab Injection accepted by the National Medical Products Administration [1] - Rongli Construction (09639) plans to collaborate with CATL to develop efficient energy storage systems and solutions [1] Operating Performance - BeiGene (06160) reports a net profit attributable to shareholders of 1.139 billion yuan for the first three quarters, turning from loss to profit year-on-year [1] - Tencent Music-SW (01698) reports a net profit attributable to equity holders of 2.15 billion yuan in the third quarter, a year-on-year increase of 36.0% [1] - Zhou Li Fu (06168) sees a 32% year-on-year increase in e-commerce revenue for the first ten months, with net profit rising 71% year-on-year [1] - China Resources Land (01109) reports a cumulative contract sales amount of approximately 169.6 billion yuan for the first ten months, a year-on-year decrease of 16.6% [1]

Core Points - The Hong Kong Monetary Authority (HKMA) has introduced the Hong Kong Stock Exchange (HKEX) as a strategic shareholder in its subsidiary, Clearstream Settlement Holdings Limited [1][3] - The agreement involves the HKMA retaining 80% ownership through the Exchange Fund and HKEX acquiring a 20% stake via new share subscriptions [1][3] Group 1 - The partnership aims to transform the Central Moneymarkets Unit (CMU) into a diversified asset settlement platform, enhancing commercial development and integrating bond and stock custody management systems [3] - This collaboration is expected to improve investment efficiency and flexibility, enhance liquidity, promote product innovation, and strengthen Hong Kong's role as a risk management center [3] - The initiative supports the internationalization of the Renminbi and aims to elevate Hong Kong's status as an international financial center, which is significant for the financial development of Hong Kong [3] Group 2 - The HKMA's president emphasized that this strategic cooperation lays the foundation for the CMU to evolve into a multi-asset platform, allowing investors to manage stocks and bonds in a one-stop manner [3] - The HKEX's CEO highlighted that developing fixed income and currency business is a key strategic focus, and this investment reflects their commitment to building a diverse and vibrant multi-asset ecosystem [3]

据了解，这项战略性投资建基于香港交易所与迅清结算于2025年3月签订的合作备忘录。而迅清结算是 香港金管局旗下公司，负责营运债务工具中央结算系统（CMU）。 南方财经 21世纪经济报道记者 张伟泽 香港报道 11月12日，香港交易所宣布，与迅清结算有限公司（迅清结算）达成协议，投资最多4.55亿港元购入迅 清结算控股新发行的股份。交易完成后，香港交易所与香港金融管理局（香港金管局）旗下外汇基金将 分别持有迅清结算控股的20%及80%股权。 香港特区政府财政司司长陈茂波指出，香港要通过制度创新开辟新的增长曲线。这次双方合作有三大战 略意义，包括提升投资效率和灵活度；释放流动性，促进产品创新，提升香港风险管理中心的功能以及 助力人民币国际化。 陈茂波表示，过去CMU专注于提供债券相关服务，未来将发展成为多元化的资产交收结算平台。这不 仅会加速其商业化发展，更重要的是打破债券和股票之间的传统壁垒，推动跨产品、跨市场、跨领域的 抵押品互通，并围绕相关增值服务进行创新发展。 港交所CEO陈翊庭表示，发展固定收益及货币业务是交易所重点业务战略之一，有关投资展现交易所致 力构建多元资产类别生态圈，有助于市场长远稳健发展，旨 ...

金管局表示，香港交易所将以认购新股形式，持有迅清结算控股的20%股权。交易完成后，由金管局管 理的外汇基金和香港交易所将分别持有迅清结算控股的80%和20%股权。 新华社香港11月12日电（记者刘英伦）香港金融管理局12日宣布，旗下迅清结算控股有限公司引入香港 交易所及结算有限公司为策略性股东，以优化香港资本市场的金融基建，支持香港固定收益和货币市场 生态系统的长远发展。 金管局总裁及迅清结算控股董事会主席余伟文表示，金管局、迅清结算和香港交易所的策略性合作是香 港金融基建发展的重要里程碑，为推动CMU发展成为多元资产平台奠定基础，让投资者可一站式管理 股票及债券，同时促进内地、香港与国际市场之间高效的双向投资流动。 香港交易所集团行政总裁陈翊庭表示，随着全球投资者越来越关注亚洲机遇，香港交易所将与监管机构 及市场参与者紧密合作，进一步提升香港作为全球债券融资、风险管理及离岸人民币业务枢纽的地位， 发挥香港作为全球固定收益及货币中心的潜力。 外汇基金于2025年10月成立迅清结算控股，旨在全资拥有迅清结算有限公司，后者负责运营债务工具中 央结算系统（CMU）。 ...

Core Insights - The Hong Kong Monetary Authority (HKMA) has announced that its subsidiary, Xunqing Clearing Holdings, will introduce the Hong Kong Stock Exchange (HKEX) as a strategic shareholder, acquiring a 20% stake through a new share subscription for up to HKD 455 million [1] - This investment aligns with HKEX's strategic goals in the fixed income and currency (FIC) market, aiming to enhance Hong Kong's status as an international financial center [1][2] - The collaboration is expected to advance Hong Kong's post-trade securities infrastructure, establishing it as a major Central Securities Depository (CSD) in the region [2] Group 1 - The partnership will leverage resources, technology, talent, and expertise from both HKMA and HKEX to enhance the Central Moneymarkets Unit (CMU) and expand investor services [2] - The CMU aims to facilitate one-stop management of stocks and bonds for investors, promoting efficient cross-border investment flows between mainland China, Hong Kong, and international markets [2] - The strategic cooperation is seen as a significant milestone in the development of Hong Kong's financial infrastructure [2] Group 2 - HKEX's CEO expressed enthusiasm for the collaboration, emphasizing the importance of developing the fixed income and currency ecosystem as a key business strategy [3] - The investment reflects Hong Kong's commitment to building a diverse and vibrant multi-asset ecosystem, contributing to the long-term stability of the market [3] - As global investors increasingly focus on opportunities in Asia, HKEX aims to strengthen its position as a hub for bond financing, risk management, and offshore RMB business [3]

他还表示，此次合作将助力人民币国际化，进一步提升香港国际金融中心地位。离岸人民币市场持续发 展，人民币国际化正稳慎推进，市场对离岸人民币资金管理及投资产品的需求持续提升。高效、综合的 平台有助降低国际投资者持有和交易人民币资产的门槛与成本，鼓励国际资本更多配置中国资产，为人 民币国际化的稳慎推进贡献力量。 另外，陈茂波呼吁各界于12月7日香港立法会选举中投票。 11月12日，香港金管局、港交所(00388)及迅清结算控股就深化策略伙伴合作举行签约仪式。香港财政 司司长陈茂波致辞时指，此次策略性合作是加速推动金融基建高效联通关键一步，更加是香港金融市场 跨越式发展。他称，此次合作在香港的金融发展蓝图中有着重大意义。该交易突显香港力求杠杆更大的 市场力量，加速推动金融基建的高效联通与创新发展。香港金管局和港交所强强联手，为香港国际金融 市场提速和深化发展创造有利条件。 陈茂波指出，这次双方的合作，有三大战略意义。此次合作提升投资效率和灵活度，相信未来将有更多 国际投资者配置包括中国国债的内地资产。香港作为全球最大离岸人民币中心，以及点心债主要交易市 场，流入香港的资金量及香港托管的资产总值将持续增加。对于投资者而 ...

他续指，此次合作将释放流动性、促进产品创新，提升香港风险管理中心的功能。此次合作亦将促进探 索双方托管的债券及资产作为抵押品的互通性，提升抵押品管理效率、有效释放潜在流动性，并促进股 票市场和固定收益及货币市场更好联动发展。通过建立综合的抵押品平台，有助市场参与者更好地进行 对冲和风险管理，提升香港风险管理中心的功能，有关基建亦会引入数字资产，例如代币化债券和股 票。 另外，陈茂波呼吁各界于12月7日香港立法会选举中投票。 智通财经APP获悉，11月12日，香港金管局、港交所(00388)及迅清结算控股就深化策略伙伴合作举行签 约仪式。香港财政司司长陈茂波致辞时指，此次策略性合作是加速推动金融基建高效联通关键一步，更 加是香港金融市场跨越式发展。他称，此次合作在香港的金融发展蓝图中有着重大意义。该交易突显香 港力求杠杆更大的市场力量，加速推动金融基建的高效联通与创新发展。香港金管局和港交所强强联 手，为香港国际金融市场提速和深化发展创造有利条件。 他还表示，此次合作将助力人民币国际化，进一步提升香港国际金融中心地位。离岸人民币市场持续发 展，人民币国际化正稳慎推进，市场对离岸人民币资金管理及投资产品的需求持续 ...

Group 1 - Hong Kong Stock Exchange (HKEX) announced a strategic investment to acquire a 20% stake in Xunqing Clearing Holdings [1] - The transaction agreement was signed during a ceremony attended by the Exchange Fund, HKEX, and Xunqing Clearing Holdings [1]

Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) announced a strategic investment to acquire a 20% stake in Xunqing Clearing Holdings, formalized through a transaction agreement signed during a recent ceremony involving the Exchange Fund, HKEX, and Xunqing Clearing Holdings [1] Group 1 - HKEX is pursuing a strategic investment to enhance its market position and expand its service offerings [1] - The acquisition of a 20% stake in Xunqing Clearing Holdings signifies HKEX's commitment to strengthening its clearing and settlement capabilities [1] - The transaction agreement was signed in the presence of key stakeholders, indicating a collaborative approach to the investment [1]