格隆汇9月12日｜德国商业银行分析师Thu Lan Nguyen说，欧元兑美元EUR/USD可能升至1.20上方，但 这未必会给欧洲央行带来问题。欧洲央行副行长金多斯曾表示，这样的水平可能会很棘手。然而，正如 欧洲央行在周四的会议上所说，增长前景有所改善。在这方面，对于欧元进一步走强的容忍度可能会更 高。德国商业银行将欧美年底预估从之前的1.20调高至1.22，理由是预期美联储将进一步降息，且美联 储的独立性将受到侵蚀。她说，欧洲央行将难以应对美元走软导致的欧元走强。 来源：格隆汇APP ...

截至月份: 2025年8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: 民生國際有限公司 (於百慕達註冊成立的有限公司) 呈交日期: 2025年9月1日 FF301 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 第 1 頁 共 10 頁 v 1.1.1 | 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) | 00938 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.5 HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.5 HKD | ...

Group 1: Core Insights - Rongchang Biologics (09995.HK) announced that its innovative drug Taitasip (brand name: Tai Ai®) for treating primary Sjögren's syndrome has met the primary endpoint in a Phase III clinical trial in China [1] - Taitasip is the first BLyS/APRIL dual-target fusion protein drug to complete Phase III research in the field of Sjögren's syndrome globally [1] - The clinical trial was a multi-center, randomized, double-blind, placebo-controlled study aimed at evaluating the efficacy and safety of Taitasip, with the primary endpoint being the change in ESSDAI score at week 24 compared to baseline [1] Group 2: Disease Background and Drug Mechanism - Sjögren's syndrome is a chronic inflammatory autoimmune disease characterized by lymphocytic infiltration and damage to exocrine glands, leading to persistent dry mouth and dry eyes, and can affect multiple organ systems [2] - The prevalence of Sjögren's syndrome in China is estimated to be between 0.3% and 0.7%, with an increasing trend indicating a significant unmet clinical need [2] - Taitasip is a novel dual-target fusion protein developed by the company that simultaneously inhibits the overexpression of BLyS and APRIL, effectively preventing abnormal differentiation and maturation of B cells [2] Group 3: Regulatory and Clinical Recognition - Taitasip has received multiple authoritative guideline recommendations in China, including the "Clinical Practice Guidelines for Sjögren's Syndrome" and the "Expert Consensus on B-cell Targeted Therapy for Rheumatic and Immune Diseases" [2] - Internationally, Taitasip has been granted Fast Track designation by the U.S. FDA for its indication in Sjögren's syndrome and has been approved to conduct global multi-center Phase III clinical trials [2]

Core Viewpoint - Minsheng International (00938.HK) is expected to report a profit before tax ranging from HKD 436.5 million to HKD 482.5 million for the six months ending September 30, 2025, a significant turnaround from a loss of HKD 174.6 million in the same period of 2024 [1] Group 1 - The anticipated profit improvement is primarily attributed to a one-time gain of approximately HKD 473.6 million from the completion of a major sale of all issued shares of Yuenian Investment Limited and its subsidiaries on April 11, 2025 [1] - The board emphasized that the expected profit improvement is due to this one-time gain rather than from regular operational activities [1]

Core Viewpoint - Minsheng International (00938) expects to achieve a profit before tax ranging from HKD 437 million to HKD 483 million for the six months ending September 30, 2025, a significant turnaround from a loss of HKD 175 million in the same period of 2024 [1] Financial Performance - The anticipated profit turnaround is primarily attributed to a one-time gain of approximately HKD 474 million from the completion of a major disposal of all issued shares of Yuenian Investment Limited and its subsidiaries on April 11, 2025 [1]

Core Viewpoint - Minsheng International (00938) expects to achieve a profit before tax ranging from HKD 437 million to HKD 483 million for the six months ending September 30, 2025, compared to a loss of HKD 175 million in the same period of 2024 [1] Group 1 - The anticipated turnaround to profitability is primarily due to a one-time gain of approximately HKD 474 million from the completion of a significant sale of all issued share capital of Yuenian Investment Limited and its subsidiaries on April 11, 2025 [1]

Core Viewpoint - Minsheng International (00938.HK) expects to record a profit before tax ranging from HKD 436.5 million to HKD 482.5 million for the six months ending September 30, 2025, compared to a loss of HKD 174.6 million in the same period of 2024 [1] Group 1 - The expected turnaround to profitability is primarily due to a one-time gain of approximately HKD 473.6 million from the completion of a significant disposal of all issued share capital of Yu Nian Investment Limited and its subsidiaries on April 11, 2025 [1]

民生國際有限公司 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公告的內容概不 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 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 截 至2025年9月30日止六個月預計扭虧為盈主要乃由於於2025年4月11日完成有 關出售譽年投資有限公司及其附屬公司全部已發行股本的非常重大出售事項 及關連交易（「出售事項」）產生的一次性收益約473.6百 萬 港 元，有 關 詳 情 分 別 載 於本公司日期為2025年3月18日 及2025年4月11日 的 通 函 及 公 告。 董 事 會 謹 此 強 調，預 期 溢 利 改 善 主 要 由 於 出 售 事 項 的 一 次 性 收 益，而 非 經 常 性 業 務 營 運 所 致。董 事 會 繼 續 致 力 探 索 進 一 步 機 遇，以 加 強 本 集 團 的 核 心 業 務， 並 為 股 東 創 造 長 期 價 值。 – 1 – 股 東 及 潛 在 投 資 者 務 請 注 意，本 公 告 所 載 資 料 僅 基 於 董 事 ...

FF301 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 截至月份: 2025年7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: 民生國際有限公司 (於百慕達註冊成立的有限公司) 呈交日期: 2025年8月1日 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) | 00938 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.5 HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.5 HKD | | 500,000,000 | 本月底法 ...

Core Viewpoint - Minsheng International (00938) reported a revenue of HKD 138 million for the fiscal year ending March 31, 2024, reflecting a year-on-year growth of 8.95%, while the net loss attributable to shareholders increased to HKD 592 million from HKD 552 million in the previous year [2] Financial Performance - The company achieved a revenue of HKD 138 million, marking an 8.95% increase year-on-year [2] - The net loss attributable to shareholders was HKD 592 million, compared to a loss of HKD 552 million in the previous year [2] - The net cash flow from operating activities was -HKD 5.85 million, an improvement from -HKD 45.88 million in the previous year [2] - Basic earnings per share were -HKD 0.92 [2] Valuation Metrics - As of July 29, the price-to-book ratio (TTM) was approximately -0.25 times, and the price-to-sales ratio (TTM) was about 2.72 times [2] Business Segments - The company operates through four main segments: 1. Chongqing Property Division, focusing on residential apartments, serviced apartments, and shopping malls [10] 2. Property Management Services Division, offering property management, housekeeping, and landscaping services [10] 3. Renovation and Decoration Division, involved in the decoration of hotels, malls, offices, schools, and hospitals [10] 4. Japanese Hotel Operations Division, managing resort hotels in Hokkaido, Japan [10] Cash Flow Analysis - The net cash flow from financing activities was HKD 147.23 million, a decrease of HKD 296.01 million year-on-year [21] - The net cash flow from investing activities was -HKD 4.067 million, compared to -HKD 3.364 million in the previous year [21] Asset and Liability Changes - Investment properties decreased by 12.49% compared to the previous period, with a 1.42 percentage point drop in total asset proportion [30] - Contract assets increased by 113.56%, contributing to a 0.47 percentage point rise in total asset proportion [30] - Accounts payable and notes payable surged by 663.04%, increasing their proportion of total assets by 48.5 percentage points [33] - Short-term borrowings rose by 7.5%, with a 12.11 percentage point increase in total asset proportion [33] Liquidity Ratios - The current ratio was 0.13, and the quick ratio was 0.03 [36]