Market Overview - The A-share market opened with all three major indices rising: Shanghai Composite Index up 0.09% to 3903.89, Shenzhen Component Index up 0.13% to 13333.29, and ChiNext Index up 0.05% to 3210.55 [2][3] - The Hang Seng Index opened up 0.66% at 25710.61, while the Hang Seng Tech Index rose 0.55% to 5611.93 [4][5] Sector Performance - Active sectors included precious metals, Hainan Free Trade Zone, and commercial aerospace, while server-related stocks, first-release economy, and cross-strait integration concepts showed weakness [3] - Notable individual stock movements included Lens Technology, which opened over 7% higher following the announcement of its plan to acquire 100% of Peimei Gao International Co., Ltd. to expand into AI computing power infrastructure [3] Individual Stock Highlights - Lens Technology's stock price increased by 7.27% to 31.00, with significant trading volume and a net inflow of capital [4] - The stock's trading volume reached 3.08 billion, indicating strong investor interest [4]

Group 1 - The core point of the news is that Lens Technology (300433) has signed a letter of intent for equity acquisition to purchase 100% of PMG International Co., LTD, with specific transaction details to be negotiated later [2] - The acquisition is intended to enhance the company's capabilities in AI computing hardware solutions by integrating advanced technologies and customer certifications from PMG International [2] - The agreement is non-binding and does not constitute a related party transaction or a major asset restructuring, thus not impacting the company's current year operating performance [2] Group 2 - Lens Technology has begun to gradually layout its strategy in the computing infrastructure sector, collaborating closely with North American AI hardware clients [3] - The company plans to start developing AI server-related products in 2024, beginning with chassis structural components and expanding into liquid cooling modules and solid-state drive assembly [3] - Lens Technology has shown consistent revenue growth, with a projected revenue of 53.663 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 16.08%, and a net profit of 2.843 billion yuan, up 19.91% [3]

Core Viewpoint - The company is strategically positioning itself in the AI hardware sector by acquiring Yuans Technology Co., Ltd., which will enhance its capabilities in AI server solutions and liquid cooling systems, marking a significant step towards becoming a global AI hardware innovation platform [1][6][10]. Group 1: Acquisition Details - The company signed a share acquisition intention agreement to indirectly acquire 95.11645% of Yuans Technology Co., Ltd. through PMG International Co., Ltd. [6][9]. - The specific transaction amount and terms will be determined after due diligence and negotiations [7]. - The acquisition aims to leverage existing technologies and customer certifications in the server cabinet business, enhancing the company's competitive edge in AI computing hardware [9][12]. Group 2: Strategic Focus on AI Hardware - The company views AI servers as a critical strategic area to meet the growing demand for computing power, with plans to expand into liquid cooling modules and SSD assembly [1][10]. - The chairman emphasized that the hardware industry is undergoing a significant transformation, predicting 2026 as the "AI edge year" [11]. - The company has been actively recruiting key technical positions to support its focus on AI server and cooling technologies, aiming for mass production of structural components by the second half of this year [12][14]. Group 3: Broader Industry Trends - The company is capitalizing on the emerging opportunities in AI edge hardware, including AI smartphones, smart glasses, and intelligent vehicles [1][12]. - A new manufacturing facility has been established to support the production of AI hardware, including intelligent robots, with a significant annual output capacity [14]. - The company has set a three-year plan to increase R&D investment and focus on core areas such as consumer electronics and intelligent vehicles, aiming to become a leader in AI edge hardware manufacturing [14].

Core Viewpoint - Lens Technology is actively pursuing acquisitions to strengthen its position in the AI server and AI computing infrastructure market, marking a strategic shift towards becoming a global AI hardware innovation platform [2][6][9] Group 1: Acquisition Details - On December 10, Lens Technology signed a share acquisition intention agreement to indirectly acquire 95.11645% of Yuans Technology Co., Ltd. through PMG International Co., Ltd. [6][8] - The specific transaction amount and plan will be determined through further negotiations based on due diligence and audit results [6][8] Group 2: Strategic Expansion in AI Hardware - Lens Technology aims to capture the AI server market, having already achieved mass production of server chassis components and is expanding into liquid cooling modules and SSD assembly [2][10] - The acquisition is expected to enhance the company's core competitiveness in AI computing hardware solutions by integrating advanced liquid cooling systems and established customer certifications [8][10] Group 3: Market Outlook and Future Plans - The company anticipates a significant hardware revolution as AI transitions from cloud to edge devices, predicting 2026 to be a pivotal year for AI edge hardware [9][10] - Lens Technology is committed to increasing R&D investment and focusing on edge hardware, multi-modal integration technology, and new material processes, aiming to become a global leader in AI edge hardware manufacturing [12]

Core Viewpoint - Northern Mining (00433) has announced a conditional agreement to sell all issued shares of its subsidiary, Jiulong Investment (Shanghai) Co., Ltd., to buyer Li Xiaolong for HKD 1 million, marking a strategic shift to focus on its mining operations [1] Group 1: Transaction Details - The sale involves the entire issued share capital of Jiulong Investment (Shanghai) Co., Ltd. [1] - The transaction price is set at HKD 1 million, payable in cash upon completion [1] - Following the sale, mining operations will become the sole primary business of the remaining group [1] Group 2: Business Focus - The mining business primarily involves the exploration, production, and sale of molybdenum concentrate in China [1] - The mining operations have been conducted through the subsidiary Shaanxi Luonan Jiulong Mining Co., Ltd. since December 2009 [1] Group 3: Financial Performance - The group's financial performance has mainly stemmed from the chemical trading operations of Anhui Tongxin and its subsidiaries [1] - The aluminum trading business, which commenced in the second half of 2024, has generated only minimal revenue and does not hold any significant assets [1] - Other members of the group do not operate any business or hold any significant assets [1] Group 4: Strategic Rationale - The board believes that the proposed sale represents a valuable opportunity to reshape the group's business strategy and reallocate resources to develop its core mining operations [1]

Core Viewpoint - Northern Mining (00433) has entered into a conditional sale agreement to sell all issued shares of its subsidiary, Jiulong Investment (Shanghai) Co., Ltd., to buyer Li Xiaolong for HKD 1 million, with cash payment upon completion [1] Group 1: Transaction Details - The sale is set to be completed on December 4, 2025, after trading hours [1] - The mining business will become the sole major operation of the remaining group, focusing on the exploration, production, and sale of molybdenum concentrate in China [1] - The sale price for the shares is HKD 1 million, payable in cash at completion [1] Group 2: Business Strategy - The financial performance of the group has primarily stemmed from the chemical trading operations of Anhui Tongxin and its subsidiaries [1] - The group plans to launch its aluminum metal trading business in the second half of 2024, which has generated only minimal revenue since its inception and holds no significant assets [1] - The board believes that the proposed sale represents a valuable opportunity to reshape the group's business strategy and reallocate resources towards developing its core mining operations [1]

Core Viewpoint - Northern Mining (00433.HK) has entered into a conditional sale agreement to sell its wholly-owned subsidiary, Jiulong Investment (Shanghai) Co., Ltd., for HKD 1 million, with cash payment upon completion [1] Group 1: Transaction Details - The sale agreement involves the complete divestment of Jiulong Investment, which will no longer be a subsidiary of the group post-completion [1][3] - The financial performance, assets, and liabilities of Jiulong Investment will not be consolidated into the group's financial statements after the sale [1][3] Group 2: Business Strategy - The board believes that the proposed sale represents a valuable opportunity for the group to reshape its business strategy and reallocate resources towards its core mining operations [2] - For the six months ending June 30, 2025, the mining segment recorded significant segment profit of approximately HKD 515 million and segment earnings of about HKD 172 million [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佈的內容概不負責，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。 NORTH MINING SHARES COMPANY LIMITED 北方礦業股份有限公司 （於百慕達註冊成立之有限公司 ） （股份代號：433） 涉及 建議出售目標公司全部已發行股本的 非常重大出售事項 買賣協議 於二零二五年十二月四日（交易時段後），本公司（作為賣方）與買方（作為買方） 訂立買賣協議，據此，本公司有條件同意出售，而買方有條件同意購買銷售 股份。 於完成後，目標公司將不再為本集團的附屬公司，且其財務業績、資產及負 債亦不再於本集團的綜合財務報表綜合入賬。 上市規則的涵義 由於建議出售事項涉及的最高適用百分比率（定義見上市規則第14.07條）超過 75%，故根據上市規則第14章，建議出售事項構成本公司的非常重大出售事 項，因而須遵守上市規則第14章項下通知、公佈及股東批准的規定。 – 1 – 股東特別大會 一般資料 一份載有（其中包括）(i)建議出售事項詳情；(ii)出售集團財務資料； ...

致：香港交易及結算所有限公司 公司名稱: 北方礦業股份有限公司 呈交日期: 2025年12月1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) | 00433 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 25,000,000,000 | HKD | | 0.02 HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 25,000,000,000 | HKD | | 0.02 HKD | | 500,000,000 | 本月底法定/註冊股本總額： HKD 500,000,000 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 ...

Group 1 - The core theme of the forum is "Governance for a Sustainable Future" and focuses on corporate sustainable development and ESG ecosystem building [1] - Northern Mining Co., Ltd. received the "Third National Cup ESG Excellence Central Enterprise Golden Bull Award" for its innovative practices and outstanding achievements in the ESG field [1] - The award selection process emphasizes transparency and objectivity, aiming to encourage more companies to engage in sustainable development [1] Group 2 - Northern Mining has established a sustainable development governance structure that integrates project companies, enhancing its ability to respond to opportunities and challenges in sustainable development [2] - The company promotes local management and operations, implementing community development plans to create an integrated economic ecosystem around its projects [2] - Northern Mining adheres to compliance and international best practices in ESG management, ensuring effective governance [2] Group 3 - By 2025, the company aims to enhance its mineral resource supply capacity and green low-carbon transformation efficiency, while integrating international ESG governance concepts into its practices [3] - The focus will be on developing new productive capacities in mining, improving digitalization, intelligence, and green development levels [3] - The company seeks to create infinite value from limited resources, contributing to global sustainable development [3]