New IPOs - The largest biotech IPO in Hong Kong for 2025 is initiated by Insilico Medicine (03696), which boasts the fastest global progress in AI drug development [1] - Lin Qingxuan (02657) will conduct its IPO from December 18 to December 23, attracting cornerstone investors like Fidelity [1] - Woan Robotics (06600) is set to launch its IPO during the same period, with an expected listing date of December 30 [1] - Meilian Holdings (02671) and Wuyi Vision (06651) will also hold their IPOs from December 18 to December 23, both expected to list on December 30 [1] - Xun Ce (03317) will follow the same IPO schedule, with a listing anticipated on December 30 [1] - Zhihui Mining (02546) achieved a remarkable 5248.15 times subscription in its public offering, with a listing date of December 19 [1] - China National Airlines (00753) plans to invest in Shenzhen Airlines' equity financing, with Kunhang Investment, a state-owned entity, being shortlisted [1] - Sensetime-W (00020) intends to place 1.75 billion new Class B shares, aiming to raise approximately HKD 3.146 billion [1] - Fosun Pharma (02196) is enhancing its overseas innovative drug strategy by signing a cooperation and option agreement with Clavis Bio [1] - WuXi AppTec (02359) invested around EUR 30 million to acquire a 3.22% stake in a French biopharmaceutical fund [1] - Minhua Holdings (01999) plans to acquire 100% equity in the American soft furniture company Gainline Recline Intermediate Corp [1] Share Buybacks - Tencent Holdings (00700) repurchased 1.055 million shares for HKD 636 million on December 18 [2] - Xiaomi Group-W (01810) spent HKD 151 million to buy back 3.75 million shares on the same day [2] - COSCO Shipping Holdings (01919) repurchased 5.9 million shares for HKD 80.557 million [2] - Country Garden Services (06098) bought back 2.7 million shares for HKD 17.136 million [2] - Jiangsu Ninghu Expressway (00177) saw an increase of 52.862 million shares by Yunsong Capital [2]

敏实集团(00425)发布公告，于2025年12月18日或以前根据于2012年5月22日采纳的购股权计划行使购股 权而发行合共27.5万股股份。 ...

智通财经APP讯，敏实集团(00425)发布公告，于2025年12月18日或以前根据于2012年5月22日采纳的购 股权计划行使购股权而发行合共27.5万股股份。 ...

FF305 第 1 頁 共 6 頁 v 1.3.0 | 2). 就根據股份計劃授予發行人的董事的股份獎勵或期權而發行新股或轉 | 150,000 | 0.0128 % | HKD | 23.85 | | | --- | --- | --- | --- | --- | --- | | 讓庫存股份 - 涉及新股 | | | | | | | 於2025年12月18日根據於2012年5月22日採納的購股權計劃行使購 | | | | | | | 股權 | | | | | | | 變動日期 2025年12月18日 | | | | | | | 於下列日期結束時的結存 (註5及6) 2025年12月18日 | 1,167,829,799 | | 11,130,000 | | 1,178,959,799 | | B. 贖回/購回股份 (擬註銷但截至期終結存日期尚未註銷) (註5及6) | | | | | | 第 2 頁 共 6 頁 v 1.3.0 FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 敏實集團有限公司 呈交日期： ...

12月18日，受美股科技股集体下挫影响，港股今日维持低位震荡走势，截止收盘，恒生指数涨0.12%报 25498.13点，恒生科技指数跌0.73%报5418.29点，国企指数跌0.02%报8841.51点，红筹指数跌0.26%报 4049.62点。 盘面上，大型科技股走势分化，阿里巴巴跌1.3%，京东集团跌0.09%，小米集团跌2.47%，网易涨 0.67%，美团涨0.1%，快手涨0.23%，哔哩哔哩涨0.26%；航空股延续涨势，东方航空涨超7%；煤炭股 午后走强，汇力资源涨超9%；锂电池股跌幅居前，宁德时代跌超3%；新消费概念股走弱，名创优品跌 超3%；其他股票中，舜宇光学科技跌超1%；曹操出行跌超12%，恒大物业跌超9%，中国中免跌超 5%；上海复旦涨超7%，招金矿业涨超6%。 企业新闻 远大医药(00512.HK)：自主研发的重磅全球创新放射性核素偶联药物 GPN01530 在美国获批开展临床研 究。 和谐汽车(03836.HK)：附属iCar Group Limited可能通过引入新投资者开展进一步股权融资，涉资4000万 美元。 中国中车(01766.HK)：集团及下属企业近三个月合计签订约533.1 ...

Summary of Minth Group Limited Conference Call Company Overview - **Company**: Minth Group Limited - **Industry**: China Autos & Shared Mobility - **Ticker**: 0425.HK - **Market Cap**: Rmb31,298 million - **Current Share Price**: HK$30.12 (as of December 17, 2025) - **Price Target**: HK$43.00, indicating a potential upside of 43% from the current price [8][8] Key Developments - **Strategic Collaboration**: Minth announced a three-year strategic collaboration with a humanoid robot integrator to support manufacturing and delivery in Europe, marking progress in humanoid development and expansion into overseas markets [1][1] - **Global Footprint Advantage**: The company has a competitive edge due to its established production capacity and strong relationships with global auto OEMs, positioning it well for assisting humanoid customers in overseas market expansion [2][2] Financial Performance - **Recent Share Price Movement**: Minth's share price fell by 12% over the past month, compared to a 2% decline in the Hang Seng Index (HSI). This decline is attributed to negative sentiment in the auto sector and concerns over lower growth in EV battery housing due to the EU's removal of the 2035 ICE ban [3][3] - **Revenue Exposure**: Minth has 65% of its revenue exposure from overseas markets, which provides additional growth opportunities in humanoid robots and AIDC liquid cooling [4][4] Financial Projections - **Earnings Per Share (EPS)**: Projected EPS for the next fiscal years are as follows: - 2025: Rmb2.56 - 2026: Rmb3.31 - 2027: Rmb4.17 [8][8] - **Revenue Growth**: Expected revenue growth from Rmb23,147 million in 2024 to Rmb37,504 million by 2027 [8][8] - **Valuation Metrics**: - P/E ratio projected to be 10.6 in 2025, decreasing to 6.5 by 2027 - EV/EBITDA expected to rise from 4.4 in 2025 to 4.8 in 2027 [8][8] Risks and Opportunities - **Upside Risks**: - More-than-expected new project/client wins for aluminum battery housing products - Faster-than-expected overseas market expansion - Success in humanoid project wins [12][12] - **Downside Risks**: - Significant long-term slowdown in China's PV market - Sluggish overseas market sales growth - Increases in labor costs [12][12] Analyst Rating - **Current Rating**: Overweight (OW) [8][8] - **Industry View**: In-Line [8][8] Conclusion Minth Group Limited is positioned for growth through strategic collaborations and a strong overseas revenue base, despite facing challenges in the auto sector. The company's focus on humanoid robots and innovative products may provide significant upside potential in the coming years.

Group 1 - The core point of the article is that Sensata Group has entered into a strategic cooperation agreement with a robotics company to enhance their partnership in the field of artificial intelligence and robotics, specifically focusing on the European market [1][2] Group 2 - The strategic cooperation agreement spans three years and includes two main aspects: contract manufacturing and distribution of general embodied intelligent robots in Europe [1] - Sensata Group will act as a contract manufacturer for specific models of robots in the European market, prioritizing local production and delivery, and will be the preferred supplier for robot components [1][2] - The robotics company will supply Sensata Group with competitively priced robots that meet European standards for distribution, with Sensata Group serving as a distributor in the automotive sector and a value-added distributor in non-automotive applications [1][2] Group 3 - The company emphasizes the importance of the layout and commercialization of robotics-related products, including the design, production, and manufacturing of core components and modular products [2] - The partnership aims to advance the expansion in the European market, focusing on local assembly, delivery, and gradual localization of core component supply as key strategies for steady development [2] - Sensata Group aims to become a leading global supplier of localized robotic system components and expand its international contract manufacturing business in the field of embodied intelligent robots [2]

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，概不對因本公告全部或任何 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。 MINTH GROUP LIMITED 敏實集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：425） 自願公告 人工智能機器人領域之戰略合作 本公司欣然宣佈，本集團已與機器人公司訂立戰略合作協議，該協議涵蓋在歐洲地 區經銷及代工生產通用具身智能機器人，藉此進一步深化雙方在人工智能和機器人 領域的合作夥伴關係。 戰略合作協議之概要 機器人公司是一家智能生產力公司，致力於人工智能與機器人的融合創新，旨在成 為人形機器人與智能科技的領先製造商。機器人公司創始團隊由產業資深骨幹、來 自知名跨國企業的資深高管、頂尖科學家與產業思想領袖組成，具有深厚的核心技 術、產業管理經驗和產業資源。 訂立合作的理由及裨益 本集團高度重視機器人相關產品的佈局及商業化落地，包括從機器人核心零部件、 模塊化產品的設計、生產與製造，到整機代工業務的拓展。機器人公司是行業領先 且具備全球競爭力的具身智能機器人企業，全球化發展 ...

敏实集团(00425)公布，于2025年12月16日因购股权获行使合共发行65万股股份，每股发行价23.85港 元。 ...

智通财经APP讯，敏实集团(00425)公布，于2025年12月16日因购股权获行使合共发行65万股股份，每股 发行价23.85港元。 ...