Group 1 - The core point of the article is that Zhou Guohui has reduced his stake in Weishi Jiajie (00856) by selling 10 million shares at a price of HKD 9.44 per share, totaling approximately HKD 94.4 million [1] - Following the sale, Zhou Guohui's remaining shareholding is approximately 222 million shares, representing a holding percentage of 15.47% [1] - The transaction involves other related parties, including Eternal Asia (HK) Limited, Shenzhen State-owned Assets Supervision and Administration Commission, Shenzhen Yiyaton Investment Holdings Co., Ltd., and Shenzhen Investment Holdings Co., Ltd. [1]

截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 偉仕佳杰控股有限公司 呈交日期: 2025年11月3日 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 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) | 00856 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | 本月底法定/註冊 ...

Group 1: Netflix (NFLX) - Investment Rating: Buy with a target price of 1,319.00 USD, representing a 20.5% upside from the current price of 1,094.69 USD [3][13] - Core Viewpoint: Short-term tax issues and industry consolidation do not alter the long-term growth logic of Netflix, as global users continue to shift towards streaming, with cable TV market share declining [8][9] - 2025 Q3 Performance Summary: Revenue grew 17% year-on-year to 11.51 billion USD, with a diluted EPS increase of 9% to 5.87 USD. Free cash flow rose 21% to 2.66 billion USD [11][12] Group 2: 伟仕佳杰 (856) - Investment Rating: Buy with a target price of 14.8 HKD, indicating a 47.6% upside from the current price of 10.03 HKD [4][18] - Core Viewpoint: The company is deeply engaged in the Asian ICT distribution market, with rapid growth in cloud and AI businesses, projecting a 28% increase in cloud revenue for 2024 [17][18] - Financial Performance: The company has maintained a consistent revenue growth rate of 24% since its listing, with a return on equity (ROE) above 10% for 23 consecutive years [20][22] Group 3: Uranium Industry - Core Viewpoint: The uranium sector is entering a new development cycle driven by increased demand, midstream capacity constraints, and a decrease in secondary supply [34][35] - Investment Opportunities: Companies like Cameco (CCJ) are well-positioned to benefit from the supply-demand imbalance, with a target price of 101 USD and a buy rating [37] - Market Dynamics: The nuclear energy sector contributes significantly to global electricity generation, with uranium demand expected to rise due to geopolitical factors and energy transition policies [35][36]

Core Viewpoint - The report highlights the strong growth potential of 伟仕佳杰 (856.HK) in the Asian ICT distribution market, driven by its cloud and AI business expansion, and assigns a target price of HKD 14.8 with a buy rating [1][3]. Group 1: Company Overview - 伟仕佳杰 is a leading ICT solutions platform in the Asia-Pacific region, with operations in enterprise system distribution, consumer electronics distribution, and cloud computing/AI services, covering 9 countries in China and Southeast Asia [1]. - The company has a robust client base with over 50,000 channel partners and deep collaborations with more than 300 leading global and Chinese technology manufacturers, including Huawei, Alibaba Cloud, AWS, Dell, HP, and Lenovo [1]. Group 2: Financial Performance - Since its listing, the company has achieved an average revenue growth rate of 24% up to the end of 2024, with a continuous ROE above 10% for 23 years and a total of HKD 3.3 billion in share buybacks and dividends [2]. - In the first half of 2025, the enterprise systems business generated HKD 25.7 billion, accounting for 57% of total revenue, benefiting from the domestic innovation wave, with over 70% of revenue from domestic brands [2]. - The consumer electronics business reported HKD 17.2 billion in revenue for the first half of 2025, representing 38% of total revenue, supported by a recovery in the smartphone and PC markets [2]. - The cloud computing business is projected to be a significant growth driver, with expected revenue of HKD 3.9 billion in 2024 (+28%) and AI-related revenue of HKD 3.78 billion (+42%), with a 67.9% year-on-year growth in the first half of 2025 [2]. Group 3: Market Position and Growth Prospects - The domestic IT distribution market is valued at approximately RMB 1.43 trillion, with a diverse and fragmented structure, positioning 伟仕佳杰 among the top tier alongside companies like 神州数码 and 长虹佳华 [3]. - In the cloud management services sector, the company ranks among the top five in IDC's third-party cloud management market in China [3]. - Revenue projections for 2024 indicate HKD 58.4 billion for North Asia (including mainland China, Hong Kong, Macau, Taiwan, and Japan) with a 4% growth, and HKD 30.7 billion for Southeast Asia with a remarkable 74% growth [3]. - The target price of HKD 14.8 represents a 43% upside from the current price, with projected net profits of HKD 1.19 billion, HKD 1.41 billion, and HKD 1.63 billion for 2025-2027 [3].

Group 1 - The Hong Kong stock market saw a collective rise in Apple-related stocks, with notable increases in several companies [1] - Hongteng Precision experienced an 8.06% increase, reaching a latest price of 5.900 and a total market capitalization of 43.091 billion [2] - Weishi Jiajie rose by 6.26%, with a latest price of 10.010 and a total market capitalization of 14.312 billion, marking a year-to-date increase of 102.51% [2] Group 2 - Gaoweidian increased by 5.04%, with a latest price of 33.760 and a total market capitalization of 29.303 billion, reflecting a year-to-date increase of 19.29% [2] - Lens Technology saw a rise of 2.92%, with a latest price of 26.760 and a total market capitalization of 141.409 billion, showing a year-to-date increase of 48.09% [2] - Fuzhikang Group increased by 2.39%, with a latest price of 18.830 and a total market capitalization of 14.739 billion, achieving a year-to-date increase of 104.67% [2]

Group 1 - The stock of Weishi Jiajie (00856.HK) rose over 6% in the morning session on October 24, reaching an increase of 6.26% and trading at 10.01 HKD [1] - The trading volume amounted to 64.6455 million HKD [1]

Core Viewpoint - Weishi Jiajie (00856) has seen a significant stock price increase of over 6% following the launch of its cloud computing platform, highlighting its advancements in AI and cloud services [1] Group 1: Company Developments - Weishi Jiajie's subsidiary, Jiajie Cloud Star, has officially launched a community version of its computing power scheduling platform, which aims to provide a one-stop management solution for heterogeneous computing power cards [1] - The platform is designed to meet the lightweight needs of multi-tenant environments, enabling flexible scheduling and easy management, thereby improving overall management efficiency and reducing computing power usage costs [1] Group 2: Product and Market Position - Jiajie Cloud Star focuses on software development for AI and cloud computing, with two core self-developed product systems: the computing power scheduling and operation platform, and the RightCloud multi-cloud management platform [1] - The company supports seven out of nine national-level new generation AI public computing power open innovation platforms approved by the Ministry of Science and Technology, showcasing its strong market position [1] - The platform is compatible with major chip architectures such as NVIDIA and Huawei Ascend, and supports the development, training, and deployment of large models like Pangu and DeepSeek, with applications spanning intelligent computing center construction, large model industrialization, and academic research [1]

Core Viewpoint - Weishi Jiajie (00856) has seen a significant stock price increase of over 6%, reaching HKD 10.01, driven by the launch of its new computing power scheduling platform, which aims to enhance management efficiency and reduce costs in the AI and cloud computing sectors [1] Company Summary - Weishi Jiajie has officially launched the community version of its computing power scheduling platform under its subsidiary, Jiajie Cloud Star, which integrates heterogeneous computing power cards for flexible scheduling and easy management [1] - Jiajie Cloud Star focuses on software development for AI and cloud computing, with two core self-developed product systems: computing power scheduling and operation platform, and RightCloud multi-cloud management platform [1] - The company supports seven out of nine national-level new generation AI public computing power open innovation platforms approved by the Ministry of Science and Technology, showcasing its significant role in the industry [1] Industry Summary - The new platform is compatible with major chip architectures such as NVIDIA and Huawei Ascend, supporting the development, training, and deployment of large models like Pangu and DeepSeek [1] - The practical applications of the platform span three key areas: intelligent computing center construction, large model industrial applications, and university research [1]

Group 1 - The core viewpoint indicates that Apple-related stocks in Hong Kong have collectively declined, with significant drops in companies such as 富智康集团 (5.5% down) and others like 鸿腾精密 and 丘钛科技 (over 4% down) [1] - Renowned Apple analyst 郭明錤 from 天风国际 has reported that the demand for iPhone Air is lower than expected, leading the supply chain to reduce shipments and production capacity [1] - The supply chain's production capacity is expected to shrink by over 80% by Q1 2026, with some components anticipated to cease production by the end of 2025 due to the inability to find new market segments [1] Group 2 - Specific stock performance includes 富智康集团 at 18.240 with a decline of 5.49%, and other companies like 丘钛科技 at 14.090 (down 4.28%) and 蓝思科技 at 25.880 (down 4.01%) [2] - Other notable declines include 比亚迪电子 (3.58% down), 高伟电子 (3.40% down), and 舜宇光学科技 (2.32% down) [2] - The overall trend reflects a challenging environment for Apple-related stocks, driven by reduced demand and production adjustments in the supply chain [1][2]

Core Viewpoint - Multiple companies in China conducted share buybacks on October 20, 2025, with notable activity from Mengniu Dairy, which had the largest buyback amount of 10.14 million yuan for 700,000 shares [1][2] Summary by Company - **Mengniu Dairy (02319)**: - Buyback of 700,000 shares - Total buyback amount of 10.14 million yuan - Year-to-date cumulative buyback of 1.92 million shares, representing 0.491% of total share capital [2] - **YunGongChang (N23027)**: - Buyback of 1.87 million shares - Total buyback amount of 7.53 million yuan - Year-to-date cumulative buyback of 2.45 million shares, representing 5.33% of total share capital [2] - **Lianyi Rong Technology (09959)**: - Buyback of 2.45 million shares - Total buyback amount of 7.44 million yuan - Year-to-date cumulative buyback of 6.54 million shares, representing 3.06% of total share capital [2] - **Guoshengtang (02273)**: - Buyback of 232,000 shares - Total buyback amount of 6.83 million yuan - Year-to-date cumulative buyback of 467,810 shares, representing 1.97% of total share capital [2] - **Antong Oilfield Services (03337)**: - Buyback of 4.42 million shares - Total buyback amount of 4.94 million yuan - Year-to-date cumulative buyback of 3.37 million shares, representing 1.14% of total share capital [2] - **Weishi Jiajie (00856)**: - Buyback of 500,000 shares - Total buyback amount of 4.53 million yuan - Year-to-date cumulative buyback of 663,800 shares, representing 0.462% of total share capital [2] - **Beisen Holdings (09669)**: - Buyback of 400,600 shares - Total buyback amount of 3.24 million yuan - Year-to-date cumulative buyback of 143,260 shares, representing 0.204% of total share capital [2] - **Zhongxu Future (09890)**: - Buyback of 228,200 shares - Total buyback amount of 3.13 million yuan - Year-to-date cumulative buyback of 598,580 shares, representing 1.12% of total share capital [2] - **Shoujia Technology (00103)**: - Buyback of 2.8 million shares - Total buyback amount of 2.21 million yuan - Year-to-date cumulative buyback of 5.75 million shares, representing 2.45% of total share capital [2] - **Meili Tianyuan Medical Health (02373)**: - Buyback of 70,000 shares - Total buyback amount of 2.21 million yuan - Year-to-date cumulative buyback of 30,050 shares, representing 0.127% of total share capital [2] - **Kangchen Pharmaceutical (01681)**: - Buyback of 100,000 shares - Total buyback amount of 1.54 million yuan - Year-to-date cumulative buyback of 623,200 shares, representing 7.32% of total share capital [2]