Core Viewpoint - Maoye International (00848) announced the sale of 7.812 million shares of Maoye Commercial, generating approximately RMB 45.26 million, with an average selling price of RMB 5.79 per share. Following this transaction, the group's equity interest in Maoye Commercial decreased from 85% to 84.55% [1] Group 1 - Maoye International's subsidiary, Maoye City Commercial Management, is conducting the sale in the open market [1] - The total proceeds from the sale are approximately RMB 45.26 million, excluding transaction costs [1] - The average selling price per share is approximately RMB 5.79 [1] Group 2 - After the completion of the sale, the group's total equity interest in Maoye Commercial will decrease from 85% to 84.55% [1]

Core Viewpoint - Maoye International (00848.HK) announced the sale of shares in Maoye Commercial by its indirect wholly-owned subsidiary, Maoye City Commercial Management, indicating a strategic move to liquidate assets in the public market [1] Group 1: Share Sale Details - Maoye City Commercial Management plans to sell a total of 25,113,500 shares of Maoye Commercial from November 28 to December 1, 2025, for approximately RMB 160.77 million (excluding transaction costs) [1] - On December 8, 2025, Maoye City Commercial Management further sold 7,811,960 shares of Maoye Commercial at an average price of approximately RMB 5.79 per share, totaling around RMB 45.26 million (excluding transaction costs) [1]

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 。 Maoye International Holdings Limited 茂業國際控股有限公司 (於開曼群島註冊成立的有限公司) 進一步出售茂業商業股份 茲提述本公司日期為 2025 年 12 月 2 日之公告，內容有關本公司之一間接全資附 屬公司名為包頭市茂業城市商業管理公司（「茂業城市商業管理」）於 2025 年 11 月 28 日至 2025 年 12 月 1 日期間在公開市場上出售合共 25,113,500 股茂業商 業股份，總代價約為人民幣 160.77 百萬元（不包括交易成本）。 於 2025 年 12 月 8 日，茂業城市商業管理在公開市場上進一步出售共 7,811,960 股茂業商業股份，總代價約為人民幣 45.26 百萬元（不包括交易成本），每股茂 業商業股份的平均售價约為人民幣 5.79 元。 出售事項後，截至本公告之日，茂業城市商業管理分別於 2025 年 11 月 2 ...

截至月份: 2025年11月30日 狀態: 新提交 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 | 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) | 00848 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 9,000,000,000 | HKD | | 0.1 | HKD | | 900,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 9,000,000,000 | HKD | | 0.1 | HKD | | 900,000,000 | 本月底法定/註冊股本總額： HKD 900,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 致：香港交易及結算所有限公 ...

Market Overview - The Hong Kong stock market experienced fluctuations, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The US stock market saw declines across major indices, with the Dow Jones falling by 427.09 points or 0.90% [2] - Southbound funds maintained a net inflow of 121.9 billion HKD in November, indicating continued interest in Hong Kong stocks [3] Sector Performance - The materials sector, particularly non-ferrous metals, led the gains in the Hong Kong market, with notable increases in stock prices for companies like Sunny Optical Technology, which rose by 6.2%, and Zijin Mining, which increased by 5.3% [1][5] - In the US market, technology stocks faced profit-taking pressure, particularly in AI-related stocks, contributing to the overall market decline [2] Investment Opportunities - The report emphasizes the importance of technological self-reliance as a core theme for future performance in the Hong Kong market, suggesting that leading companies in AI, semiconductors, and industrial software may present long-term growth opportunities [3] - Specific recommendations include focusing on sectors with lower valuations and higher dividends, as well as companies benefiting from anticipated Federal Reserve interest rate cuts [3] Company Highlights - XPeng Motors reported a 19% year-on-year increase in vehicle deliveries for November, totaling 36,728 units, and a cumulative delivery of 391,937 units for the year, reflecting a 156% increase [9] - Alibaba, ZTE, and Meituan were among the top net purchases by southbound funds, indicating strong investor interest in these companies [9] Stock Performance - The Hang Seng Index and its sub-indices showed varied performance over the past month, with the Hang Seng Technology Index up by 0.8% [16] - Notable stock performances include Tencent Holdings, which saw a 1.3% increase, and Alibaba, which rose by 2.2% [16]

Core Viewpoint - Maoye International (00848) announced the sale of a total of 25.1135 million shares of Maoye Commercial, representing approximately 1.45% of its issued share capital, for around RMB 161 million, with an average selling price of RMB 6.40 per share [1] Group 1: Share Sale Details - The shares will be sold in two tranches: 2 million shares on November 28, 2025, and 23.1135 million shares on December 1, 2025 [1] - Following the sale, the company's equity interest in Maoye Commercial will decrease from 86.45% to 85% [1] Group 2: Financial Implications - The board believes that the sale will help optimize the company's financial structure [1] - The proceeds from the sale will be used to repay loans and supplement working capital [1] - The sale will not affect the group's consolidated profit and loss for the current period, as Maoye Commercial is a subsidiary within the consolidation scope [1]

董事会认为该等出售事项将可以使公司进一步优化财务结构。因为茂业商业为公司合并范围内的子公 司，因此，该等出售事项将不会影响集团当期合并损益。集团计划将该等出售事项所得款项用于偿还借 款及补充流动资金。 智通财经APP讯，茂业国际(00848)发布公告，公司的间接全资附属公司包头市茂业城市商业管理公司 (曾用名：包头市茂业东正房地产开发有限公司)分别于2025年11月28日及2025年12月1日在公开市场出 售200万股及2311.35万股(总计2511.35万股)茂业商业股份，占茂业商业截至本公告已发行股本约1.45% ，总代价约为人民币1.61亿元(不包括交易成本)，每股茂业商业的平均出售价约为人民币6.40元。出售 事项后，公司合并持有的茂业商业的权益将由86.45%减少至85%。 ...

Core Viewpoint - Maoye International (00848.HK) announced the sale of a total of 25.1135 million shares of Maoye Commercial (600828.SH), representing approximately 1.45% of Maoye Commercial's issued share capital, for a total consideration of approximately RMB 160.77 million, reducing its stake from 86.45% to 85% [1] Summary by Sections - **Share Sale Details** - The indirect wholly-owned subsidiary of Maoye International, Baotou Maoye Urban Commercial Management Co., Ltd., sold 2 million shares on November 28, 2025, and 23.1135 million shares on December 1, 2025 [1] - The average selling price per share of Maoye Commercial was approximately RMB 6.40 [1] - **Impact on Shareholding** - Following the sale, the company's consolidated equity interest in Maoye Commercial will decrease from 86.45% to 85% [1]

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 。 Maoye International Holdings Limited 茂業國際控股有限公司 (於開曼群島註冊成立的有限公司) (股份代號: 848) 主要交易 出售茂業商業股份 出售事項 董事會宣佈，本公司之間接全资附屬公司包頭市茂業城市商業管理公司（曾 用 名 ： 包 頭 市 茂 業 東 正 房 地 產 開 發 有 限 公 司 ） 分 別 於 20 2 5 年 11 月 28 日 及 20 2 5 年 12 月 1 日 在 公 開 市 場 出 售 2, 0 0 0 , 0 0 0 股 及 23 , 1 1 3 , 5 0 0 股 （ 總 計 25 , 1 1 3 , 5 0 0股）茂業商業股份，佔茂業商業截至本公告已發行股本約1. 4 5 % ，總代價約為人民幣16 0 . 7 7 百萬元（不包括交易成本），每股茂業商業之平 均出售價約為人民幣6. 4 0元。出售事項後，本公司合併持有的 ...

Summary of Key Points Core Viewpoint - As of November 21, 14 stocks reached their 52-week highs, with Hengfa Optical (01134), Chaowei Holdings (08059), and Cassava Resources (00841) leading the gains at 42.11%, 30.56%, and 22.49% respectively [1]. 52-Week Highs - Hengfa Optical (01134) closed at 0.375, with a peak price of 0.540, marking a 42.11% increase [1]. - Chaowei Holdings (08059) closed at 0.030, reaching a high of 0.047, reflecting a 30.56% rise [1]. - Cassava Resources (00841) closed at 0.200, with a maximum price of 0.207, indicating a 22.49% increase [1]. - Other notable stocks include Sibor Systems (08319) at 15.04%, MOS HOUSE (01653) at 11.46%, and Tianjin Jianfa (02515) at 5.19% [1]. 52-Week Lows - China Pengfei Group (03348) reached a low of 1.100, down 20.09% from its peak [1]. - China Information Technology (08178) closed at 0.285, reflecting a 19.35% decrease [1]. - XL Ernan Strategy - U (09799) saw a decline of 14.27% [1]. - Other significant declines include Hesai - W (02525) at -10.54% and MBC Bitcoin - U (03425) at -9.09% [1]. Additional Notable Stocks - Stocks like MBC Bitcoin (03430) and Tongyuan Kang Pharmaceutical - B (02410) also experienced declines of 6.64% and 6.62% respectively [2]. - The overall trend indicates a mix of significant gains in certain stocks while others are facing substantial losses, reflecting a volatile market environment [1][2].