Core Viewpoint - Guanghe Tong (00638) experienced a significant drop of 11.72% on its first trading day, breaking the record of 16 consecutive new stocks in Hong Kong that had risen on their debut, indicating a volatile market response despite increasing southbound capital holdings [1] Group 1: Initial Trading Performance - The stock price of Guanghe Tong fell below its issue price during the dark trading phase prior to its official listing, signaling potential investor concerns [2] - On its first trading day, Guanghe Tong had a turnover rate of 41.29%, with over 40% of investors choosing to sell, resulting in a total sell-off amounting to 307 million HKD [3] - The stock continued to decline by 6.95% on the second trading day, but the turnover rate decreased to 9.99%, indicating a reduction in panic selling [3] Group 2: Market Dynamics and Support - After two days of rapid decline, Guanghe Tong entered a "support" phase, aided by the main underwriter, CITIC Securities, which began repurchasing shares [4] - During this support phase, the stock price rose by 10.25% on the third trading day, reflecting some investor confidence returning [4][6] - The stock price reached a high of 20.66 HKD during this phase, nearing its issue price of 21.5 HKD, but subsequently entered a "correction" phase after the stabilization period ended [6] Group 3: Southbound Capital Involvement - Southbound capital, referred to as "mysterious funds," has been steadily increasing its holdings in Guanghe Tong, reaching 8.3% by December 8 [1][11] - By December 4, southbound capital held 1244.72 million shares, indicating a strong accumulation strategy during the stock's downturn [11] - The rapid increase in southbound capital holdings suggests a strategic positioning for potential future price recovery, as the stock remains undervalued compared to its A-share counterpart [13][14]

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分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Fibocom Wireless Inc. 深圳市廣和通無線股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代碼：00638） 海外監管公告 本公告由深圳市廣和通無線股份有限公司（「本公司」）根據香港聯合交易所有限公 司證券上市規則第13.10B條作出。 以下為本公司於深圳證券交易所網站( http://www.szse.cn ) 及巨潮資訊網 ( www.cninfo.com.cn )所發佈之《深圳市廣和通無線股份有限公司關於控股股東、 實際控制人部分股份質押的公告》，僅供參閱。 承董事會命 深圳市廣和通無線股份有限公司 董事長 張天瑜 中國，2025年12月9日 於本公告日期，本公司董事會成員包括執行董事張天瑜先生、應凌鵬先生及許寧 先生；及獨立非執行董事王寧先生、趙靜女士及吳承剛先生。 证券代码：300638 证券简称：广和通 公告编号：2025-088 深圳市广和通无线股份有限公 ...

Group 1 - The article highlights the top three and bottom three AH premium rates for stocks as of December 8, with Northeast Electric (00042) leading at 900.00% [1] - The second and third highest AH premium rates are for Hongye Futures (03678) at 271.02% and Zhejiang Shibao (01057) at 263.14% [1] - The lowest AH premium rates are for Ningde Times (03750) at -7.18%, followed by China Merchants Bank (03968) at 0.50% and Hengrui Medicine (01276) at 3.12% [1] Group 2 - The article provides a detailed ranking of the top ten AH stocks by premium rate, with Northeast Electric (00042) having a significant premium of 900.00% and a deviation value of 33.05% [1] - Other notable stocks in the top ten include Sinopec Oilfield Service (01033) with a premium of 259.21% and a deviation value of -5.20% [1] - The bottom ten AH stocks by premium rate include Weichai Power (02338) with a premium of 5.92% and a deviation value of -3.57% [1] Group 3 - The article also lists the top ten AH stocks by deviation value, with Northeast Electric (00042) again leading with a deviation of 33.05% [1] - Guanghetong (00638) and Beijing Jingcheng Machinery (00187) follow with deviation values of 28.42% and 26.94% respectively [1] - The bottom three stocks by deviation value include GAC Group (02238) at -17.56%, Jiangsu Ninghu Expressway (00177) at -17.19%, and Shenzhen Expressway (00548) at -11.56% [1]

Core Insights - The article highlights the top and bottom AH premium rates for various stocks, indicating significant disparities in market valuations between A-shares and H-shares [1][2] - Northeast Electric (00042) leads with a premium rate of 900.00%, while CATL (03750) shows a negative premium rate of -4.93%, suggesting potential investment opportunities and risks [1] AH Premium Rate Rankings - The top three stocks with the highest AH premium rates are: - Northeast Electric (00042) with a premium of 900.00% and a deviation value of 34.85% [1] - Hongye Futures (03678) with a premium of 272.56% and a deviation value of 8.87% [1] - Zhejiang Shibao (01057) with a premium of 261.81% and a deviation value of 5.38% [1] - The bottom three stocks with the lowest AH premium rates are: - CATL (03750) with a premium of -4.93% and a deviation value of 6.10% [1] - China Merchants Bank (03968) with a premium of -1.58% and a deviation value of -1.24% [1] - Heng Rui Medicine (01276) with a premium of 0.64% and a deviation value of -2.66% [1] Deviation Value Rankings - The top three stocks with the highest deviation values are: - Guanghetong (00638) with a deviation value of 36.62% [1] - Northeast Electric (00042) with a deviation value of 34.85% [1] - Beijing Machinery (00187) with a deviation value of 27.48% [1] - The bottom three stocks with the lowest deviation values are: - GAC Group (02238) with a deviation value of -20.57% [1] - Jiangsu Ninghu Highway (00177) with a deviation value of -13.89% [1] - Shenzhen Expressway (00548) with a deviation value of -12.04% [1]

FF301 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 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00638 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 135,080,200 | RMB | | 1 | RMB | | 135,080,200 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 135,080,200 | RMB | | | 1 RMB | | 135,080,200 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | -- ...

Core Insights - The article highlights the top and bottom AH share premium rates as of December 3, with Northeast Electric (00042) leading at a premium rate of 900.00% [1][2]. Group 1: Top AH Share Premium Rates - Northeast Electric (00042) has the highest premium rate at 900.00% with H-share priced at 0.270 HKD and A-share at 2.25 CNY [2]. - Hongye Futures (03678) follows with a premium rate of 276.85%, H-share at 3.240 HKD and A-share at 10.19 CNY [2]. - Sinopec Oilfield Service (01033) ranks third with a premium rate of 265.79%, H-share at 0.760 HKD and A-share at 2.32 CNY [2]. Group 2: Bottom AH Share Premium Rates - Contemporary Amperex Technology (03750) has the lowest premium rate at -4.88%, with H-share priced at 473.600 HKD and A-share at 376.08 CNY [2]. - China Merchants Bank (03968) has a premium rate of -0.25%, H-share at 51.650 HKD and A-share at 43.01 CNY [2]. - Heng Rui Medicine (01276) follows with a premium rate of 1.71%, H-share at 71.800 HKD and A-share at 60.97 CNY [2]. Group 3: Premium Deviation Values - Guanghe Communication (00638) has the highest deviation value at 49.00% [1][3]. - Northeast Electric (00042) also features prominently with a deviation value of 36.60% [1][3]. - Chenming Paper (01812) ranks third with a deviation value of 26.74% [1][3]. Group 4: Bottom Premium Deviation Values - GAC Group (02238) has the lowest deviation value at -26.76% [1][3]. - Junsheng Electronics (00699) follows with a deviation value of -18.54% [1][3]. - Jiangsu Ninghu Highway (00177) has a deviation value of -15.01% [1][3].

（文章来源：每日经济新闻） 每经AI快讯，广和通(00638.HK)回落逾5%，本周累计涨幅仍超8%。截至发稿跌5.14%，报17.9港元，成 交额9279.53万港元。 ...

智通财经APP获悉，广和通(00638)回落逾5%，本周累计涨幅仍超8%。截至发稿，跌5.14%，报17.9港 元，成交额9279.53万港元。 广和通三季报显示，前三季度公司营业收入53.66亿元，同比下降13.69%；归母净利润3.16亿元，同比 下降51.50%。中信建投指出，可比口径营收同比增长7%，毛利率下降影响利润表现；公司端侧AI、机 器人等解决方案业务持续推进，前景乐观。 消息面上，11月28日10时08分，华为首款AI情绪陪伴玩具"智能憨憨"在官方渠道正式开售，售价399元 的三款配色产品瞬间售罄。据悉，"智能憨憨"AI玩具由珞博智能与华为共同设计开发。而广和通已与珞 博智能达成战略合作，将共同推进AI潮玩产品Fuzozo芙崽的全球化布局。 ...

Group 1 - The top three companies with the highest AH premium rates are Northeast Electric (00042) at 900.00%, Hongye Futures (03678) at 272.78%, and Sinopec Oilfield Service (01033) at 262.34% [1] - The bottom three companies with the lowest AH premium rates are CATL (03750) at -5.04%, China Merchants Bank (03968) at -0.84%, and Heng Rui Medicine (01276) at 2.24% [1] - The companies with the highest deviation values are Guanghe Tong (00638) at 43.63%, Northeast Electric (00042) at 37.21%, and Beijing Jingcheng Machinery Electric (00187) at 23.54% [1] Group 2 - The top ten AH stocks by premium rate include Zhejiang Shibao (01057) at 261.04%, Beijing Jingcheng Machinery Electric (00187) at 247.49%, and Chenming Paper (01812) at 244.44% [1] - The bottom ten AH stocks by premium rate include Weichai Power (02338) at 5.66%, Midea Group (00300) at 8.00%, and Zijin Mining (02899) at 8.86% [2] - The top ten AH stocks by deviation value also include Dazhong Public Utilities (01635) at 17.92% and Shandong Xinhua Pharmaceutical (00719) at 12.79% [2]

Core Insights - The article highlights the changes in the Hong Kong Stock Connect holdings, indicating which companies saw the largest increases and decreases in ownership percentages over recent trading days [1][2][3]. Group 1: Recent Changes in Holdings - Cambridge Technology (06166) saw the largest increase in ownership percentage, rising by 1.35% to a total holding of 4.12% [2] - The largest decrease was observed in Times China Holdings (01233), which fell by 1.10% to a holding of 4.65% [2] - In the last five trading days, Lion Group (02562) experienced the most significant increase in ownership, up by 5.46% to 24.80% [3] Group 2: Top Gainers and Losers - The top three companies with the highest increases in ownership over the last five days were Lion Group (02562), Longpan Technology (02465) with an increase of 4.69%, and Vanke Enterprises (02202) with an increase of 3.82% [3] - Conversely, the largest decreases in ownership over the same period were seen in Hang Seng China Enterprises (02828), which dropped by 6.21% to 0.76%, and the Yingfu Fund (02800), which decreased by 5.22% to 1.87% [3][4] Group 3: Long-term Trends - Over the last 20 days, the company with the highest increase in ownership was Haotian International Construction (01341), which rose by 16.10% to 68.36% [4] - The largest decrease in ownership over the same period was recorded for New天绿色能源 (00956), which fell by 8.12% to 57.66% [4]