6月24日国新办发布会确认，9月3日将举行阅兵，军工股延续近期涨势，机构称国防军工板块具备长期 成长确定性。中航科工(02357)涨4.46%；中船防务(00317)涨2.19%。 香港财政司司长陈茂波表示，稳定币有望为资本市场带来变革，将推动发行人把稳定币应用推广至不同 场景。渣打集团(02888)早盘涨超3%，欧盟或发布稳定币新规，渣打香港计划发行港元稳定币。 华兴资本控股(01911)涨超10%，公司拟斥资1亿美元进军Web3.0和加密货币资产领域。 国泰君安国际(01788)涨超11%，机构称短期内资金认可稀缺牌照叠加较小市值的弹性空间。 OSL集团(00863)涨超6%，拟计划收购加密货币基础设施提供商Banxa全部股份。 宜搜科技(02550)大涨超70%，与一家华为云解决方案供应商订立框架合作协议，开发数字资产及数据中 心建设。 老铺黄金(06181)涨超16%股价突破1000港元，新加坡首店开业表现超预期，机构称海外成长空间可期。 智通财经APP获悉，港股恒生指数跌0.42%，跌101点，报24182点；恒生科技指数涨0.12%。港股早盘成 交1181亿港元。 半导体供应链国产化持续推进，美拟 ...

Executive Compensation - The total compensation for CEO Mr. Cui Song for the year ending December 31, 2024, is HKD 1,960,000, which includes HKD 1,918,000 in salary and allowances, and HKD 42,000 in retirement plan contributions[4] Leadership Appointment - The company has appointed Mr. Cui Song as the CEO, effective August 5, 2024[4] Governance Structure - The board of directors includes both executive and non-executive members, ensuring a diverse governance structure[6]

众安在线（06060）：为香港稳定币概念核心标的，公司联营公司ZA Bank是首家为香港稳定币发行人 提供储备银行服务的本地数字银行，与香港金管局稳定币沙盒计划参与者圆币科技合作。 华兴资本控股（01911）：6月6日早间宣布，其管理的华兴新经济基金所投企业Circle Internet Group成 功登陆纽交所上市，成为全球稳定币领域第一个IPO的标志性事件。 OSL集团（00863）：香港合规交易所，香港版"Coinbase"，和Ethena合作推出稳定币生息产品。 中国光大控股持股（00165）：Circle的重要投资方之一，2016年Circle完成6000万美元的D轮融资，光 大控股作为投资方参与。 智通财经APP获悉，当地时间周周二，美国参议院通过了具有里程碑意义的加密货币立法，旨在促进该 行业的增长。这是数字资产公司在参议院首次针对加密货币全面监管改革投票中取得的历史性游说胜 利。 参议院以 68 票赞成、30 票反对的结果通过该法案，18 名民主党人与多数共和党人共同支持将其提交众 议院。这项由田纳西州共和党参议员比尔·哈格蒂主导的法案，将首次为与美元价值挂钩的稳定币建立 美国监管框架。此次 ...

Core Viewpoint - The article highlights significant stock movements in the Hong Kong market, driven by various company announcements and market conditions, indicating potential investment opportunities in specific sectors and companies. Group 1: Company Performances - Xiaomi Group-W (01810) rose over 3% as Lei Jun announced the release of new products, with Morgan Stanley suggesting these could be key to stock price increases [1] - Kingsoft Software (03888) increased by over 12% due to the upcoming public test of its new game, which has over 520,000 reservations, with Morgan Stanley optimistic about its revenue potential [1] - Sany International (00631) saw a rise of over 5% after reporting a 23% increase in net profit for the first quarter, alleviating growth concerns according to 招银国际 [1] - Ronghui International (00990) rose over 4% after issuing new shares to raise HKD 400 million and plans to rename itself to "Zhiyuan Holdings" [1] - Tongguan Gold (00340) increased by over 7% as gold prices surpassed USD 3,400, driven by heightened demand for safe-haven assets amid Middle East tensions [1] - Goldwind Technology (02208) rose over 6% with a 72% increase in wind power approvals, leading Guojin Securities to revise industry demand expectations upward [1] - Hec Pharma-B (02142) increased by over 4% due to collaboration with Visterra to advance HCAb technology for immune disease drug development [1] - Kangfang Biotech (09926) rose over 7% following the release of data on its drug for cervical cancer at the ASCO annual meeting, reinforcing its treatment value [1] - He Yu-B (02256) increased by over 5% after completing the first patient dosing of Ipagufungin, receiving breakthrough therapy designation from CDE [1] Group 2: Market Trends - The real estate sector saw a general rise, with Guangzhou lifting purchase restrictions, leading to increases in stocks like Jin Hui Holdings (09993) by 6.91% and others [2] - The luxury goods sector collectively rose, with Chow Tai Fook (01929) up 5.4% and LVMH reaffirming its investment in China, predicting that the mainland will account for 25% of global luxury market share by 2030 [4] - The stablecoin concept stocks opened higher, benefiting from the upcoming implementation of the Hong Kong stablecoin regulations [3] - The energy sector saw a significant rise, with Shandong Molong (00568) increasing over 40% due to Middle East conflicts driving oil prices up [2] Group 3: International Market Movements - In the US market, Austin Technology (OST.US) rose over 5% due to its involvement in various display module applications [6] - Circle (CRCL.US), the issuer of the USDC stablecoin, saw its stock price increase by over 25% amid major retailers exploring their own stablecoins [6] - Oracle (ORCL.US) rose over 7% as it projected a 40% year-on-year growth in cloud business revenue for fiscal 2026 [6]

证券研究报告 | 2025年06月13日 OSL 集团（00863.HK） 优于大市 净利润首度转正，外延收购加速全球扩张 核心观点 公司研究·海外公司财报点评 传媒·数字媒体 | 证券分析师：张衡 | 证券分析师：陈瑶蓉 | | --- | --- | | 021-60875160 | 021-61761058 | | zhangheng2@guosen.com.cnchenyaorong@guosen.com.cn | | | S0980517060002 | S0980523100001 | | 基础数据 | | | 投资评级 | 优于大市(首次) | | 合理估值 | | | 收盘价 | 12.76 港元 | | 总市值/流通市值 | 7992/7992 百万港元 | | 52 周最高价/最低价 | 13.30/4.16 港元 | | 近 3 个月日均成交额 | 18.61 百万港元 | 市场走势 资料来源：Wind、国信证券经济研究所整理 相关研究报告 2024 年公司业绩首度转正。1）公司是目前亚洲唯一上市的持牌合规虚拟资 产交易所，提供大宗经纪服务、数字资产托管服务、电子交易平台，并为机 构客户 ...

此前参议院曾于 5 月尝试推进该法案但未获通过，约一周后以 66 票对 32 票再次通过程序性动议。 法案要求稳定币以美元或等值高流动性资产全额储备，并对市值超过 500 亿美元的发行方进行年度审 计。 美国财长贝森特：甚至可能看到稳定币法案的需求超过 2 万亿美元。政府致力于维护美元的储备货币地 位。 中信建投最新研报认为，对稳定币持有者而言，他获得了一枚兼具交易便利性、隐私性、同时币值极其 稳定的货币，这是一枚有史以来交易属性最立体的货币。 稳定币的优质交易属性，或预示着未来交易支付将迎来新纪元。这或许是当前美国、香港等政府部门关 注到了稳定币，并加以监管引导，以准备迎来一个更加稳定的稳定币发展时代。 稳定币概念相关港股企业： 众安在线（06060）：为香港稳定币概念核心标的，公司联营公司ZA Bank是首家为香港稳定币发行人 提供储备银行服务的本地数字银行，与香港金管局稳定币沙盒计划参与者圆币科技合作。 智通财经APP获悉，美国参议院以 68 票对 30 票通过对《GENIUS 稳定币法案》修正案的程序性动议 （cloture），为最终表决铺路，最快将于下周一进行，除非两党达成缩短辩论时间的协议。 华兴 ...

通过此次合作，MoneyHero用户可以比较更多元化的理财产品，包括由OSL等受香港证监会监管的平台 提供的数字资产账户产品，以及保险、股票和银行账户等理财产品，帮助用户做出更全面和明智的金融 决策。随着香港对数字资产的兴趣与日俱增，市场对多元化金融解决方案的需求日益旺盛。根据香港证 监会辖下投资者及理财教育委员会(IFEC)的数据，在2023年有8%的香港零售投资者投资于虚拟资产及 相关产品，较2019年的1%有显著增长。另有11%的零售投资者表示有意投资相关产品。此次MoneyHero 和OSL的合作，正在积极回应这一趋势，满足市场和投资者对数字资产日益增长的需求和兴趣。 MoneyHero首席执行官Rohith Murthy表示："我们非常高兴与OSL达成策略合作，OSL是亚洲受规管数 字资产领域的领军企业。这次合作充分体现我们作为大东南（002263）亚地区大多数银行首选的数字获 客伙伴的独特优势，并将这一优势延伸至数字资产市场。我们致力于以可靠且透明的方式，为用户提供 全面的金融解决方案以及新兴资产类别的投资机会。OSL在监管合规及机构专业能力方面的优势，为我 们进军该领域提供了强而有力的支持，我们 ...

Market Overview - The Hong Kong stock market indices collectively declined, with the Hang Seng Index stopping a three-day rise, closing down 0.48% at 23,792.54 points, with a total turnover of HKD 235.62 billion [1] - The Hang Seng China Enterprises Index fell 0.63% to 8,629.75 points, and the Hang Seng Tech Index also dropped 0.63% to 5,286.52 points [1] - For the week, the Hang Seng Index rose 2.16%, the China Enterprises Index increased by 2.34%, and the Tech Index gained 2.25% [1] Blue Chip Performance - Kuaishou-W (01024) continued its upward trend, rising 8.44% to HKD 59.1, contributing 22.8 points to the Hang Seng Index [2] - The annualized revenue run rate for Kuaishou's AI product exceeded USD 100 million as of March, with monthly payments surpassing RMB 100 million in April and May [2] - Other blue-chip stocks included CSPC Pharmaceutical Group (01093) up 12.72%, Hansoh Pharmaceutical (03692) up 2.84%, while SMIC (00981) fell 4.85% and Trip.com Group (09961) dropped 3.31% [2] Sector Highlights - Large tech stocks generally declined, with Xiaomi down over 2% and Alibaba down over 1%, while Kuaishou rose over 8% [3] - Precious metals saw gains, with China Silver Group rising 26% and silver prices reaching a 13-year high, driven by industrial demand [3] - The innovative drug sector saw gains, with CSPC Pharmaceutical up 12.72% and other biotech firms also performing well, indicating a positive outlook for the sector [4] Stablecoin Sector - The stablecoin sector experienced a pullback after Circle's successful NYSE listing, with China Everbright Holdings (00165) dropping 17.2% [5] - The Hong Kong government announced the implementation of the Stablecoin Regulation on August 1, 2025, which aims to reshape the regulatory framework for stablecoins [6] Automotive Sector - Automotive stocks declined, with XPeng Motors (09868) down 1.77% and Great Wall Motors (02333) down 1.76% [6] - Concerns over a price war in the automotive industry were raised, with profit margins for the sector declining [6] Notable Stocks - WanGuo Gold Group (03939) reached a new high, rising 11.73% to HKD 30, supported by positive mining contracts [7] - Xinyi Energy (03868) increased by 7.07% as it submitted listing materials for a solar power infrastructure REIT in China [8] - Juzhibio (02367) faced pressure, down 3.04%, amid ongoing controversies regarding its product composition [9]

香港特区政府今日于宪报刊登《稳定币条例公告》，指定二O二五年八月一日为《稳定币条例》开始实 施的日期。 香港财经事务及库务局局长许正宇表示："《条例》生效后，该发牌制度将为相关的稳定币活动提供适 切规范，是促进香港的稳定币和数码资产生态圈可持续发展的里程碑。" 国泰海通发布研报称，稳定币作为加密货币交易的一般等价物，当前全球市场规模已突破2500亿美元， 并形成发行方、托管方、资产管理方、交易平台方和做市商五方参与的完整生态。 美国《GENIUS法案》与中国香港《稳定币条例草案》的相继落地，标志着全球监管框架加速完善。行 业呈现USDT(市占率61.2%)与USDC(24.4%)双寡头格局，后者因合规性优势正推进IPO。 中国光大控股持股（00165）：Circle的重要投资方之一，2016年Circle完成6000万美元的D轮融资，光 大控股作为投资方参与。 渣打集团（02888）+电讯盈科（00008）：2024年7月，渣打银行、Animoca Brands和电讯盈科宣布合 作，探索稳定币发行。2025年2月，三方宣布成立合资企业，申请HKMA的稳定币发行许可。该合作旨 在利用渣打银行的专业知识和金融基础 ...

Group 1 - The core viewpoint of the news is the significant rise in stablecoin concept stocks following the enactment of the Stablecoin Ordinance in Hong Kong, which aims to promote financial innovation while maintaining financial stability [1] - The Hong Kong government officially published the Stablecoin Ordinance on May 30, marking a crucial step in the digital asset sector by establishing a licensing system for issuers of "fiat-backed stablecoins" [1] - As of May this year, the global stablecoin market reached a size of $238 billion, with projections by Standard Chartered estimating it will grow to $2 trillion by 2028 [1] Group 2 - Several Hong Kong-listed companies are strategically positioning themselves in the stablecoin sector, with Circle, a major stablecoin player, expected to go public on June 5 on the NYSE, marking the first IPO in the stablecoin space [2] - China Everbright Holdings announced a partnership with IDG Capital to invest in Circle, becoming a significant strategic shareholder since June 2016 [2] - Linklogis, another key player, obtained a digital banking license in Singapore in 2019 and has collaborated with Standard Chartered to develop a blockchain trade finance platform [2]