瑞银发布研报称，澳博控股(00880)宣布斥17.5亿港元收购凯旋门酒店，当中包括1.75亿港元用于股份收 购，以及约17.5亿港元用于代表卖方梁安琪偿还债务。瑞银给予澳博"沽出"评级，目标价2.8港元，并认 为此次收购对澳博有利。 瑞银认为，此次收购将使澳博能够继续在凯旋门酒店经营博彩业务，并计划将赌桌数量增加至约90张。 随着其余卫星赌场将于2025年底前关闭，预计此举将带动凯旋门的中场博彩收入从2024年的14亿港元水 平进一步提升。报告提及，收购将通过澳博未提取的信贷额度进行融资，杠杆影响将主要被凯旋门市场 份额增长带来的额外EBITDA所抵消，并得益于澳博在半岛的集群效应和凯旋门资产的更好利用。 ...

瑞银认为，此次收购将使澳博能够继续在凯旋门酒店经营博彩业务，并计划将赌桌数量增加至约90张。 随着其余卫星赌场将于2025年底前关闭，预计此举将带动凯旋门的中场博彩收入从2024年的14亿港元水 平进一步提升。报告提及，收购将通过澳博未提取的信贷额度进行融资，杠杆影响将主要被凯旋门市场 份额增长带来的额外EBITDA所抵消，并得益于澳博在半岛的集群效应和凯旋门资产的更好利用。 智通财经APP获悉，瑞银发布研报称，澳博控股(00880)宣布斥17.5亿港元收购凯旋门酒店，当中包括 1.75亿港元用于股份收购，以及约17.5亿港元用于代表卖方梁安琪偿还债务。瑞银给予澳博"沽出"评 级，目标价2.8港元，并认为此次收购对澳博有利。 ...

消息面上，澳博控股发布公告，承接董事会先前有意收购十六浦娱乐场的所在物业，经过全面审慎的业 务评估，以及对长远业务布局、商业考量及本集团整体资源优先分配的深入考虑后，澳娱综合将不会进 行该收购。此次结果反映了集团审慎务实的资本规划，以及其专注于强化核心业务以配合市场发展和集 团长远发展的战略方针。因此，于2025年11月20日，澳娱综合与十六浦娱乐集团有限公司(十六浦，一 间由澳娱综合持有51%权益的附属公司)，相互同意及订立终止协议。 澳博控股(00880)跌近3%，截至发稿，跌2.21%，报2.65港元，成交额2211.66万港元。 ...

Group 1 - The Hong Kong gaming stocks experienced a collective decline, with specific companies like Galaxy Entertainment and Sands China seeing drops of over 5% [1][2] - The Macau government anticipates that the tourism industry will continue to develop in the next fiscal year (2026), estimating the total gaming revenue for next year to be 236 billion MOP [1] - Earlier, the government had revised its gaming revenue forecast for 2025 from 240 billion MOP down to 228 billion MOP [1] Group 2 - Morgan Stanley's report indicates that the growth rate for November may slow down to between 8% and 10% compared to October due to a more challenging base [1]

花旗认为，澳博控股以17.5亿元收购凯旋门酒店，作价较预期更为合理。管理层决定不继续收购十六浦 49%权益的决策亦令人鼓舞。不过，该行仍忧虑集团短期内或面临的市场份额流失。完成收购凯旋门酒 店以及其他物业后，集团的净负债与EBITDA比率将轻易突破7倍，而截至第三季为6.5倍。该行亦预计 全年减值亏损将增加，因集团决定停止十六浦赌场营运，并将继续持有其51%权益。因应负债比率上 升，该行将目标价由2.85港元下调至2.65港元，维持"沽售"评级。 ...

消息面上，澳博控股发布公告，承接董事会先前有意收购十六浦娱乐场的所在物业，经过全面审慎的业 务评估，以及对长远业务布局、商业考量及本集团整体资源优先分配的深入考虑后，澳娱综合将不会进 行该收购。此次结果反映了集团审慎务实的资本规划，以及其专注于强化核心业务以配合市场发展和集 团长远发展的战略方针。因此，于2025年11月20日，澳娱综合与十六浦娱乐集团有限公司(十六浦，一 间由澳娱综合持有51%权益的附属公司)，相互同意及订立终止协议。 智通财经APP获悉，澳博控股(00880)跌近3%，截至发稿，跌2.21%，报2.65港元，成交额2211.66万港 元。 ...

Group 1: Company Developments - Xinda Biologics announced that its dual receptor agonist, Masitide, achieved primary and all key secondary endpoints in Phase III clinical trials for obesity in China, showing a significant weight reduction of 20.08% compared to placebo in subjects with a BMI ≥30 [1] - Xinda Biologics plans to submit a marketing application for Masitide 9mg for adult weight management to the National Medical Products Administration [1] - RoboSense has secured a three-year exclusive partnership with FAW Toyota for a new electric vehicle model, marking the first Chinese tech company to enter Toyota's lidar supply chain [6] Group 2: Market Trends - The U.S. stock market experienced significant declines, with the Dow Jones down 386.51 points (0.84%), S&P 500 down 103.4 points (1.56%), and Nasdaq down 486.18 points (2.15%) [2] - The U.S. non-farm payrolls added 119,000 jobs in September, exceeding expectations of 50,000, indicating a shift in economic data and Federal Reserve stance [2] - The domestic smartphone market in China saw a shipment of 27.93 million units in September 2025, a year-on-year increase of 10.1%, with 5G phones accounting for 86.3% of total shipments [4] Group 3: Financial Performance - Luxshare Precision Holdings expects a mid-term profit increase of approximately 40% to 50% for the six months ending September 30, 2025, driven by effective product differentiation and sales strategies [13] - Yidu International Holdings reported a net profit of approximately HKD 1.218 billion for the six months ending September 30, 2025, reflecting an increase of about 1155% year-on-year [14] - NetEase reported a third-quarter net profit of approximately RMB 8.616 billion (USD 1.2 billion), a year-on-year increase of 31.77% [15][16]

Core Viewpoint - 澳博控股 has decided not to proceed with the acquisition of the property housing 十六浦娱乐场 after thorough business evaluation and consideration of long-term strategic planning [1] Group 1: Acquisition Decision - 澳博控股 will not acquire the property of 十六浦娱乐场, reflecting the company's prudent capital planning and focus on strengthening core business [1] - The decision aligns with the company's strategy to adapt to market developments and long-term growth [1] Group 2: Termination Agreement - A termination agreement was mutually agreed upon between 澳博控股 and 十六浦娱乐集团有限公司, effective November 20, 2025 [1] - The service agreement established on December 30, 2022, will be terminated early on November 29, 2025, resulting in 十六浦 not providing services to 澳博控股 anymore [1] - Following the termination, 十六浦娱乐场 will cease operations, but the board believes this will not significantly impact the overall business, operations, liquidity, or financial condition of the group [1]

因此，于2025年11月20日，澳娱综合与十六浦娱乐集团有限公司(十六浦，一间由澳娱综合持有51%权 益的附属公司)，相互同意及订立终止协议。根据上市规则第十四A章，十六浦并非公司的关联人士。 根据终止协议，由相同订约方订立日期为2022年12月30日(经日期为2023年3月30日的补充协议修订)的 《提供服务协议》将自2025年11月29日起提前终止。于终止后，十六浦将不再于十六浦娱乐场向澳娱综 合提供服务，而十六浦娱乐场将结束营运。 智通财经APP讯，澳博控股(00880)公布，承接董事会先前有意收购十六浦娱乐场的所在物业，经过全面 审慎的业务评估，以及对长远业务布局、商业考量及本集团整体资源优先分配的深入考虑后，澳娱综合 将不会进行该收购。是次结果反映了集团审慎务实的资本规划，以及其专注于强化核心业务以配合市场 发展和集团长远发展的战略方针。 董事会认为，终止协议及结束十六浦娱乐场将不会对集团整体的业务、经营、流动性或财务状况产生任 何重大不利影响。 ...

Group 1 - The acquisition involves the purchase of all issued shares of Kai Tak Development Limited for a total consideration of HKD 1.75 billion, with a face value of MOP 180,000 [1][2] - The buyer will repay a loan from Industrial and Commercial Bank of China, capped at HKD 1,749,825,243, which corresponds to the valuation of the Kai Tak hotel property [1] - The acquisition aligns with the strategic goal of integrating resources to provide long-term value and synergies for the company [2] Group 2 - The Kai Tak hotel is strategically located near the city center of Macau, enhancing its attractiveness as an asset [2] - The acquisition is expected to create operational synergies across hotel accommodation and dining services, benefiting the overall group [2] - The board believes that this acquisition will significantly contribute to the long-term development and market positioning of the company in the Macau Peninsula [2]