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]

Core Viewpoint - OSL Group has announced the launch of USDGO, a USD-pegged stablecoin, which aims to enhance its global compliance payment network and provide efficient payment solutions for various sectors [1][2]. Group 1: USDGO Overview - USDGO is designed to be a fully regulated stablecoin, pegged 1:1 to the US dollar, and will undergo strict third-party audits to comply with anti-money laundering (AML) and know your customer (KYC) standards [1][3]. - The stablecoin is set to be launched in Q1 2026 and will serve as a reliable medium for cross-border payments and settlements in e-commerce, gaming, and trade [1]. Group 2: Strategic Partnerships - Anchorage Digital Bank, the first federally regulated crypto bank in the US, will issue USDGO, bringing US banking-level regulatory oversight to a global stablecoin [2]. - OSL Group will handle the branding and distribution of USDGO, ensuring compliance with regulatory standards in its operations [3]. Group 3: Technological Aspects - USDGO will adopt a multi-chain strategy to maximize accessibility and interoperability across major blockchain ecosystems, starting with deployment on the Solana blockchain [2].

Core Viewpoint - The launch of USDGO, a USD-backed stablecoin by OSL Group and Anchorage Digital, aims to enhance global compliance in payment networks and provide efficient payment solutions for various sectors, including e-commerce and gaming [1][2]. Group 1: USDGO Overview - USDGO is set to officially launch in the first quarter of 2026 and will be fully regulated, pegged 1:1 to the US dollar, and subject to strict 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]. Group 2: Strategic Importance - The introduction of USDGO reflects OSL Group's commitment to strategically upgrade its payment segment while maintaining global regulatory and security standards [1]. - USDGO is designed to serve as a bridge between fiat and digital currencies, enhancing transaction efficiency and liquidity management for partners [1]. Group 3: Technological and Operational Aspects - Anchorage Digital will issue USDGO, bringing US banking-level regulatory oversight to a global stablecoin, which is crucial for institutional use in real-world payments [2]. - USDGO will adopt a multi-chain strategy to maximize accessibility and interoperability across major blockchain ecosystems, starting with deployment on the Solana blockchain [2].

Core Viewpoint - OSL Group has evolved from a traditional digital asset exchange to a leading stablecoin trading and payment platform in Asia, emphasizing compliance and strategic development in the digital finance sector [1][2]. Group 1: Company Evolution and Strategy - OSL Group celebrates its five-year anniversary of compliant operations, having established a standard for the industry as the first licensed digital asset platform in Hong Kong [2]. - The company aims to expand its role beyond trading to become a key player in the payment industry, facilitating global capital flow and empowering real economic growth [2][3]. Group 2: Bridging Fiat and Digital Currencies - OSL Group is focused on building a compliant and efficient "bridge" between fiat and digital currencies, addressing the barriers that hinder the free flow of funds in various sectors, including e-commerce and cross-border trade [3]. - The company has obtained or is in the process of acquiring over 50 licenses and registrations across more than 10 regions globally, including Hong Kong, Japan, Southeast Asia, Europe, Australia, North America, and Latin America [3]. Group 3: Stablecoin as a Key Component - Stablecoins are identified as crucial for connecting the real and digital worlds, with increasing demand from businesses seeking to address issues like long settlement periods and high costs in cross-border payments [4]. - A report indicates that from January 2023 to August 2025, the total settlement amount for identifiable stablecoin payments is projected to reach $136 billion, with B2B payments being the largest growth driver [4]. Group 4: Future Outlook - OSL Group anticipates that stablecoins will play a more significant role in its trading and payment ecosystem, meeting merchant needs and supporting the real economy [5][6]. - The company is committed to maintaining its core principles of openness, security, and compliance while strategically expanding its digital asset payment business [6].

Group 1 - The core viewpoint of the articles highlights significant stock movements in the Hong Kong and US markets, driven by company announcements and strategic partnerships [1][2][5][6][7]. Group 2 - Gilead Sciences-B (01672) saw a nearly 9% increase after announcing a share buyback plan, utilizing up to 300 million HKD for repurchases [1]. - OSL Group (00863) rose nearly 2% as it plans to offer compliant digital asset trading services in Europe by Q1 2026 [1]. - Gako Science-B (01167) increased over 5% following a 125 million RMB payment from Haisheng Capital, enhancing its cash reserves for oncology therapy development [1]. - Zhida Technology (02650) surged over 4%, reaching a new high, after signing a sales order exceeding 100 million RMB with Saudi Controls Ltd for a five-year collaboration [2]. - Capital界金控 (00204) fell over 40%, marking a historical low, with a cumulative decline exceeding 80% for the week [2]. - Semiconductor stocks performed well, with Huahong Semiconductor (01347) up 3.18%, Shanghai Fudan (01385) up 2.79%, and SMIC (00981) up 1.86% [2]. - Pacific Shipping (02343) rose nearly 5% as the Baltic Dry Index reached 2845 points, a 9.42% increase, marking the largest rise since October 2025 [3]. - Aoda Holdings (09929) resumed trading with a surge of over 200%, following a major share sale involving 1.5 billion shares at a price of 0.11 HKD per share [4]. - Robotics stocks saw significant gains, with Dechang Motor Holdings (00179) up 9.11% and Sanhua Intelligent Control (02050) up 9.06% [4]. - Ansem Semiconductor (ON.US) rose 11.01% after announcing a strategic partnership with Innosec to advance GaN technology applications [5]. - The Nasdaq Golden Dragon Index fell 1.38%, with notable declines in popular Chinese stocks like Xpeng Motors (XPEV.US) down 4.02% and Alibaba (BABA.US) down 1.89% [5]. - Microchip Technology (MCHP.US) increased by 12.17% after raising its revenue and earnings per share forecasts due to strong booking performance [6]. - Bitcoin-related stocks saw gains, with Iren Ltd (IREN.US) up 6.91% and Coinbase (COIN.US) up 5.19% [6]. - The robotics sector in the US experienced a boost, with Richtech Robotics (RR.US) up 18.54% and iRobot (IRBT.US) up 73.85% amid government support for the industry [7].