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 通 告 之 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 通 告 全部或任何部份內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 OSL Group Limited OSL集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：863） 股 東 特 別 大 會 通 告 除 另 有 指 明 者 外，本 通 告 所 界 定 的 詞 彙 與 本 公 司 日 期 為 二 零 二 五 年 十 二 月 三 十 一 日 的 通 函（「通 函」）所 界 定 者 具 有 相 同 涵 義。本 通 告 所 載 決 議 案 詳 情 載 於 通 函 內。 茲 通 告OSL集 團 有 限 公 司（「本 公 司」）謹 訂 於 二 零 二 六 年 一 月 二 十 一 日（星 期 三） 上 午 十 時 三 十 分 假 座 香 港 銅 鑼 灣 希 慎 道33號 利 園 一 期39樓 舉 行 股 東 特 別 大 會（「股 東 特 別 大 會」）或 ...

此 乃 要 件 請 即 處 理 閣 下 對 本 通 函 任 何 方 面 或 應 採 取 的 行 動 如 有 任 何 疑 問，應 諮 詢 閣 下 的 持 牌 證 券 交 易 商、 銀 行 經 理、律 師、專 業 會 計 師 或 其 他 專 業 顧 問。 閣 下 如 已 出 售 或 轉 讓 名 下 所 有OSL集 團 有 限 公 司 股 份，應 立 即 將 本 通 函 連 同 隨 附 的 代 表 委 任 表 格 轉 交 買 方 或 承 讓 人 或 經 手 出 售 或 轉 讓 的 銀 行、持 牌 證 券 交 易 商 或 其 他 代 理 以 轉 交 買 方 或 承 讓 人。 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 通 函 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 通 函 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 OSL Group Limited OSL集團有限公司 ...

Group 1 - The top three companies with the highest short positions are Vanke Enterprises (02202), COSCO Shipping Holdings (01919), and Heng Rui Medicine (01276), with short ratios of 18.48%, 16.79%, and 15.54% respectively [1][2] - The companies with the largest absolute increase in short positions are CATL (03750), Lens Technology (06613), and UBTECH Robotics (09880), which increased by 2.35%, 2.34%, and 1.29% respectively [1][2] - The companies with the largest absolute decrease in short positions are Changfei Optical Fiber (06869), Mao Ge Ping (01318), and Meilan Airport (00357), which decreased by -1.26%, -0.68%, and -0.67% respectively [1][2] Group 2 - The latest short ratio for Vanke Enterprises (02202) is 18.48%, down from 19.04% previously [3] - The latest short ratio for COSCO Shipping Holdings (01919) is 16.79%, down from 16.79% previously [2] - The latest short ratio for Heng Rui Medicine (01276) is 15.54%, up from 3919.30 million shares to 4011.67 million shares [2]

Group 1 - Daiwa has set a target price of HKD 18.8 for OSL Group (00836) and maintains a "Buy" rating, identifying OSL as its preferred cryptocurrency company in Hong Kong [1] - HashKey (03887) is set to list on December 17, raising HKD 1.6 billion through its IPO, which is faster than expected by major banks [1] - The IPO pricing for HashKey is approximately 13 times the projected revenue for 2026, aligning closely with OSL's current trading valuation [1] Group 2 - Despite the recent weakness in the cryptocurrency market and declining trading volumes globally, investor confidence in HashKey and OSL may remain low in the short term [1] - However, there is an optimistic outlook for the cryptocurrency industry in Q1 2026, driven by the potential approval of the first stablecoin license in Hong Kong and improved liquidity in the U.S. market due to a shift in Federal Reserve policy [1]

Core Viewpoint - Daiwa has set a target price of HKD 18.8 for OSL Group (00836) and maintains a "Buy" rating, identifying OSL as its preferred cryptocurrency company in Hong Kong [1] Group 1: Company Analysis - OSL is compared to HashKey (03887), which is set to list on December 17 and has raised HKD 1.6 billion through its IPO, with its listing progress exceeding market expectations [1] - HashKey's IPO pricing is based on a price-to-sales (P/S) ratio of approximately 13 times the expected revenue for 2026, which aligns closely with OSL's current trading valuation [1] Group 2: Market Outlook - Despite the recent weakness in the cryptocurrency market and a continuous decline in global exchange trading volumes, investor confidence in HashKey and OSL may remain low in the short term [1] - However, Daiwa holds an optimistic view on the cryptocurrency industry's prospects for Q1 2026, driven by the anticipated approval of the first stablecoin license in Hong Kong and improvements in U.S. market liquidity due to a shift in Federal Reserve policy [1]

茲提述(i) OSL集團有限公司（「本公司」）日期為二零二五年六月二十七日內容有關 Banxa之建議收購事項之公告（「該公告」）；(ii)日期為二零二五年九月三十日之通 函 及股 東特 別 大會 通告 ；及 (iii) 日 期為 二 零二 五年 十 月二 十二 日 之股 東特 別 大會 之投票結果公告。除非另有界定，否則本公告所用詞彙與該公告所界定者具有相 同涵義。 根據安排協議，如未獲得若干監管批准，任何一方有權將終止日期延長不少於三 十(30)天的連續期間（ 惟自二零二五年十二月二十九日起不超過180天 ），惟未能獲 得 任 何 該 等 監 管 批 准 並 非 主 要 因 該 訂 約 方 故 意 違 反 其 於 安 排 協 議 項 下 之 契 諾 所 致。由於需要額外時間達成及╱或豁免（ 視情況而定 ）安排協議中載述之條件，故 於 二 零 二 五 年 十 二 月 十 七 日 ， Banxa 向 本 公 司 及 買 方 發 出 書 面 通 知 ， 以 根 據 安 排 協議將終止日期由二零二五年十二月二十九日延長至二零二六年一月二十九日。 股 東 及 潛 在投 資 者 務 請 注 意 ， 建 議收 購 事 項 ...

Core Viewpoint - The report highlights the top short-selling stocks in the Hong Kong market, indicating significant investor sentiment and potential market movements for these companies [1][2]. Group 1: Top Short-Selling Ratios - Sun Hung Kai Properties (80016), BYD Company (81211), and JD Health (86618) have the highest short-selling ratios at 100.00% [1][2]. - SenseTime (80020) follows with a short-selling ratio of 87.67%, while Xiaomi Group (81810) has a ratio of 84.37% [2]. Group 2: Top Short-Selling Amounts - Xiaomi Group leads in short-selling amount with HKD 1.43 billion, followed by Alibaba (09988) at HKD 1.368 billion and Tencent Holdings (00700) at HKD 1.251 billion [1][2]. - China Ping An (02318) and Meituan (03690) also feature prominently with short-selling amounts of HKD 1.115 billion and HKD 956 million, respectively [2]. Group 3: Top Short-Selling Deviation Values - Xiaomi Group (81810) has the highest deviation value at 41.14%, indicating a significant difference from its average short-selling ratio [1][2]. - BYD Company (81211) follows closely with a deviation value of 40.41%, while Far East Consortium (00035) has a deviation of 33.08% [2].

Group 1 - The core point of the news highlights the top short-selling ratios and amounts for various companies, indicating significant market activity and investor sentiment towards these stocks [1][2]. Group 2 - The top three companies with the highest short-selling ratios are New World Development Co. (80016), Anta Sports (82020), and JD Health (86618), all at 100.00% [1][2]. - The companies with the highest short-selling amounts are Alibaba (09988) at 3.027 billion, Xiaomi (01810) at 1.338 billion, and Tencent (00700) at 1.136 billion [1][2]. - The highest deviation values in short-selling are led by SenseTime (80020) at 37.00%, followed by Yum China (09987) at 26.80%, and JD Health (86618) at 25.81% [1][2].

Group 1 - Bitcoin has fallen below $86,000, leading to a collective decline in cryptocurrency-related stocks in the Hong Kong market [1] - The stock of Boyaa Interactive dropped over 5%, while Okcoin Chain, Huaxing Capital Holdings, and New Fire Technology Holdings fell over 4% [1] - Jinyong Investment experienced a decline of over 3% [1] Group 2 - Boyaa Interactive's latest price is $3.370, with a market capitalization of 2.592 billion and a year-to-date decline of 21.14% [2] - Okcoin Chain's latest price is $0.178, with a market capitalization of 0.956 billion and a year-to-date increase of 7.23% [2] - Huaxing Capital Holdings' latest price is $4.370, with a market capitalization of 2.506 billion and a year-to-date increase of 52.80% [2] - New Fire Technology Holdings' latest price is $2.850, with a market capitalization of 2.144 billion and a year-to-date increase of 50.79% [2] - Jinyong Investment's latest price is $3.000, with a market capitalization of 0.770 billion and a year-to-date increase of 5.26% [2] - OSL Group's latest price is $17.490, with a market capitalization of 13.897 billion and a year-to-date increase of 118.63% [2] - Liufeng Financial's latest price is $3.140, with a market capitalization of 12.746 billion and a year-to-date increase of 201.92% [2] - Guofu Quantum's latest price is $2.470, with a market capitalization of 22.477 billion and a year-to-date increase of 212.66% [2] - Xiongan Technology's latest price is $0.077, with a market capitalization of 9.201 million and a year-to-date increase of 4.05% [2] - Guotai Junan International's latest price is $2.540, with a market capitalization of 24.206 billion and a year-to-date increase of 141.90% [2] - Huajian Medical's latest price is $3.980, with a market capitalization of 6.388 billion and a year-to-date increase of 121.11% [2] Group 3 - Bitcoin is currently priced at $85,786, down 3.93%, while Ethereum is priced at $2,939, down 5.5% [2]

Core Viewpoint - USDGO is a new USD-pegged stablecoin aimed at enhancing cross-border payments and settlements for e-commerce, gaming, and trade sectors, while also serving as a reliable medium for investors to manage digital assets through OSL's global trading and payment platform [1][2] Group 1: Product Overview - USDGO is set to launch in Q1 2026 and will be fully regulated, backed 1:1 by USD, and subject to rigorous third-party audits [1][3] - The stablecoin will adhere to the highest standards of anti-money laundering (AML) and know your customer (KYC) requirements [1] - Anchorage Digital Bank will issue USDGO, bringing U.S. banking-level regulatory oversight to a global stablecoin [2] Group 2: Strategic Importance - USDGO represents OSL Group's commitment to upgrading its payment segment and establishing a secure operational environment [1] - The stablecoin aims to lower transaction costs, improve capital management, and optimize liquidity, acting as a bridge between fiat and digital worlds [1] - OSL Group is enhancing its global compliance payment network with the introduction of USDGO, which is a cornerstone of its global payment infrastructure [4] Group 3: Technical Aspects - USDGO will adopt a multi-chain strategy to maximize accessibility and interoperability across major blockchain ecosystems [2] - Solana will be the first public blockchain to deploy USDGO, with plans to expand to additional chains in the future [2]