Group 1 - On December 1, 2025, Alibaba-W (09988), Xiaomi Group-W (01810), and Meituan-W (03690) ranked as the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 76.90 billion, 29.10 billion, and 27.80 billion respectively [1][2] - In the Shenzhen-Hong Kong Stock Connect, Alibaba-W (09988), Meituan-W (03690), and Tencent Holdings (00700) were the top three companies by trading volume, with amounts of 33.84 billion, 17.15 billion, and 16.53 billion respectively [1][2] Group 2 - The top active companies in the Southbound Stock Connect included Alibaba-W (09988) with a net buy of 5.44 billion, Meituan-W (03690) with a net buy of 4.27 billion, and Xiaomi Group-W (01810) with a net buy of 75.15 million [2] - In the Shenzhen-Hong Kong Stock Connect, Alibaba-W (09988) had a net buy of 7.77 billion, Meituan-W (03690) had a net buy of 1.67 billion, and Tencent Holdings (00700) had a net buy of 6.77 billion [2]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中芯國際集成電路製造有限公司 呈交日期： 2025年12月1日 第 1 頁 共 6 頁 v 1.3.0 | 2). 就根據股份計劃授予參與人（發行人的董事除外）的股份獎勵或期權 | | | 13,382 | 0.00017 % | HKD | 0.031 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 而發行新股或轉讓庫存股份 - 涉及新股 | | | | | | | | | 非本公司董事因行使根據2014以股支薪獎勵計劃(於2013年6月13日 | | | | | | | | | 獲採納)所授予的受限制股份单位而發行的普通股股份 | | | | | | | | | 變動日期 | 2025年12月1日 | | | | | | | | 於下列日期結束時的結存 (註5及6) | | 2025年12月1日 | 6,000,721,923 | | 0 | | 6,000,721,923 | | B. 贖 ...

Core Viewpoint - Semiconductor Manufacturing International Corporation (SMIC) announced the issuance of 94,200 ordinary shares due to the exercise of restricted stock units granted under the 2024 Share Award Plan, adopted on June 28, 2023, and 13,400 ordinary shares under the 2014 Share-Based Payment Award Plan, adopted on June 13, 2013 [1] Summary by Categories - **Share Issuance Details** - 94,200 ordinary shares will be issued as a result of the exercise of restricted stock units under the 2024 Share Award Plan [1] - 13,400 ordinary shares will be issued due to the exercise of restricted stock units under the 2014 Share-Based Payment Award Plan [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中芯國際集成電路製造有限公司 呈交日期： 2025年12月1日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00981 | 說明 港股 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | 事件 | | 已發行股份（不包括庫存股 ...

Summary of Key Points Core Viewpoint - The Hong Kong stock market experienced significant net inflows from northbound trading, with a total net buy of 21.48 billion HKD on December 1, 2023, indicating strong investor interest in certain stocks while others faced net sell-offs [1]. Group 1: Northbound Trading Activity - Northbound trading saw a net buy of 29.13 billion HKD through the Shenzhen Stock Connect and a net sell of 7.65 billion HKD through the Shanghai Stock Connect [1]. - The most bought stocks included Alibaba-W (09988), ZTE Corporation (00763), and Meituan-W (03690) [1]. - The most sold stocks were SMIC (00981), CNOOC (00883), and China Pacific Insurance (02328) [1]. Group 2: Individual Stock Performance - Alibaba-W (09988) had a net buy of 13.21 billion HKD, driven by the launch of Quark AI glasses and increased interest in Alibaba Cloud [4]. - ZTE Corporation (00763) saw a net buy of 6.06 billion HKD, with news of the Nubia M153 smartphone featuring the Doubao assistant technology [5]. - Meituan-W (03690) received a net buy of 5.94 billion HKD, reflecting positive market sentiment [6]. - Xiaomi Group-W (01810) had a net buy of 1 billion HKD, indicating stable investor confidence [6]. - CNOOC (00883) faced a net sell of 2.72 billion HKD, suggesting negative market sentiment [6]. - China Pacific Insurance (02328) experienced a net sell of 1.29 billion HKD amid rumors regarding its leadership [6]. - SMIC (00981) had a net sell of 3.02 billion HKD following the termination of an asset acquisition plan [6].

Core Viewpoint - SMIC (Semiconductor Manufacturing International Corporation) is experiencing a positive market response, with a slight increase in stock price and significant trading volume, indicating investor interest and confidence in the company's growth potential [1]. Group 1: Company Overview - SMIC is the largest integrated circuit manufacturing enterprise in mainland China, recognized for its advanced technology and comprehensive support [3]. - The company specializes in wafer foundry services across various technology nodes, providing design services, IP support, and photomask manufacturing [3]. - As of September 30, 2025, SMIC reported a revenue of 49.51 billion yuan, reflecting a year-on-year growth of 18.22%, and a net profit of 3.82 billion yuan, up 41.09% from the previous year [7]. Group 2: Investment and Shareholding - The National Integrated Circuit Industry Investment Fund holds a 1.61% stake in SMIC, indicating institutional support [2]. - As of September 30, 2025, the number of shareholders in SMIC increased to 336,200, with an average of 6,134 shares held per shareholder, showing growing retail investor interest [7]. - Major institutional shareholders include various ETFs, with notable reductions in holdings from some funds, while new entries have been observed [8]. Group 3: Market Performance - On December 1, SMIC's stock price increased by 0.70%, with a trading volume of 3.725 billion yuan and a market capitalization of 915.22 billion yuan [1]. - The stock's average trading cost is reported at 122.64 yuan, with the current price approaching a resistance level of 119.22 yuan, suggesting potential for upward movement if this level is surpassed [6].

Core Viewpoint - SMIC's stock performance shows a slight increase, with significant trading activity and a notable balance in margin trading, indicating investor interest and market dynamics [1][2]. Group 1: Stock Performance and Trading Activity - On November 28, SMIC's stock rose by 0.79%, with a trading volume of 3.487 billion yuan [1]. - The margin trading data for the same day indicates a financing purchase of 418 million yuan and a repayment of 488 million yuan, resulting in a net financing outflow of 69.965 million yuan [1]. - As of November 28, the total margin trading balance for SMIC reached 13.291 billion yuan, with the financing balance accounting for 5.84% of the circulating market value, which is above the 80th percentile of the past year [1]. Group 2: Shareholder and Financial Performance - As of September 30, the number of shareholders for SMIC increased to 336,200, a rise of 33.27%, while the average circulating shares per person decreased by 25.41% to 6,134 shares [2]. - For the period from January to September 2025, SMIC reported a revenue of 49.51 billion yuan, reflecting a year-on-year growth of 18.22%, and a net profit attributable to shareholders of 3.818 billion yuan, up 41.09% year-on-year [2]. - The top ten circulating shareholders include several ETFs, with notable reductions in holdings for some, while new entries were observed for others, indicating shifts in institutional investment [2].

智通财经APP获悉，根据2025年11月28日披露数据，中国电信（00728）、绿色动力环保（01330）、大 眾公用（01635）位居港股通持股比例前3位，分别为72.72%、69.20%、68.60%。此外，万国黄金集团 （03939）、阿里巴巴－W（09988）、快手-W（01024）在最近有统计数据的5个交易日内，持股额增 幅最大，分别为+119.66亿元、+108.43亿元、+12.76亿元;盈富基金（02800）、中芯国际（00981）、恆 生中国企业（02828）在最近有统计数据的5个交易日内，持股额减幅最大，分别为-26.36亿元、-15.15 亿元、-8.09亿元。 具体数据如下（交易所数据根据T+2日结算）： 1、港股通最新持股比例排行（前20名） | 公司名称 | 持股额变动 | 持股数变动 | | --- | --- | --- | | 万国黄金集团(03939) | +119.66亿元 | +37582.04万股 | | 阿里巴巴－W(09988) | +108.43亿元 | +7157.37万股 | | 快手-W(01024) | +12.76亿元 | +1881.69万股 | | ...

Core Insights - The top three stocks with net inflows are Alibaba-W (09988) with 1.522 billion, Pop Mart (09992) with 385 million, and China Merchants Bank (03968) with 330 million [1] - The top three stocks with net outflows are the Tracker Fund of Hong Kong (02800) with -2.261 billion, Tencent Holdings (00700) with -1.182 billion, and Hang Seng China Enterprises (02828) with -833 million [1] - In terms of net inflow ratios, China National Freight (00598) leads with 73.90%, followed by Southern Eastern Select (03441) with 64.44%, and COSCO Shipping Ports (01199) with 60.69% [1] - The stocks with the highest net outflow ratios include Ruian Real Estate (00272) at -64.09%, CNOOC Services (02883) at -62.56%, and Haitian International (01882) at -55.09% [1] Net Inflow Rankings - The top ten stocks by net inflow include: - Alibaba-W (09988): 1.522 billion, 8.82% [2] - Pop Mart (09992): 385 million, 19.66% [2] - China Merchants Bank (03968): 330 million, 32.52% [2] - CSPC Pharmaceutical Group (01093): 241 million, 20.20% [2] - Vanke Enterprises (02202): 196 million, 35.18% [2] - Yangtze Optical Fibre and Cable (06869): 180 million, 11.11% [2] - China Life Insurance (02628): 168 million, 15.04% [2] - UBTECH Robotics (09880): 148 million, 21.68% [2] - Bilibili-W (09626): 135 million, 20.46% [2] - Lion Group (02562): 132 million, 17.89% [2] Net Outflow Rankings - The top ten stocks by net outflow include: - Tracker Fund of Hong Kong (02800): -2.261 billion, -16.10% [2] - Tencent Holdings (00700): -1.182 billion, -13.16% [2] - Hang Seng China Enterprises (02828): -833 million, -10.01% [2] - Meituan-W (03690): -365 million, -2.74% [2] - China Mobile (00941): -268 million, -23.21% [2] - SMIC (00981): -255 million, -7.67% [2] - Hua Hong Semiconductor (01347): -227 million, -10.96% [2] - China Hongqiao Group (01378): -196 million, -18.31% [2] - BYD Company (01211): -153 million, -5.55% [2] - HSBC Holdings (00005): -153 million, -14.03% [2] Net Inflow Ratios - The top stocks by net inflow ratio include: - China National Freight (00598): 73.90%, 13.0298 million [3] - Southern Eastern Select (03441): 64.44%, 3.7299 million [3] - COSCO Shipping Ports (01199): 60.69%, 11.5153 million [3] - Qingdao Bank (03866): 54.25%, 11.6628 million [3] - China Power (02380): 51.21%, 15.0679 million [3] - Tanwan (09890): 47.54%, 2.8146 million [3] - Power Development (01277): 47.25%, 9.1556 million [3] - Shougang Resources (00639): 45.84%, 15.6165 million [3] - Dashi Holdings (01405): 44.46%, 5.6236 million [3] - Qingdao Port (06198): 44.08%, 2.5357 million [3] Net Outflow Ratios - The top stocks by net outflow ratio include: - Ruian Real Estate (00272): -64.09%, -1.9067 million [3] - CNOOC Services (02883): -62.56%, -56.8889 million [3] - Haitian International (01882): -55.09%, -10.1836 million [3] - Hong Kong and China Gas (00003): -54.67%, -129 million [3] - Angelalign Technology (06699): -48.57%, -34.5458 million [3] - Anhui Wanshan Expressway (00995): -46.19%, -22.9518 million [3] - 361 Degrees (01361): -42.89%, -3.5273 million [3] - Greentown Management Holdings (09979): -42.86%, -5.2056 million [3] - Weigao Group (01066): -42.55%, -44.5428 million [3] - Fenbi (02469): -41.23%, -14.4094 million [3]

Core Viewpoint - The acquisition of Zhongxin Ningbo by Guoke Micro has been terminated due to the inability to reach consensus on related matters within the expected timeframe, prioritizing the long-term interests of the company and its investors [1][6]. Group 1: Announcement of Termination - Guoke Micro announced the termination of the acquisition of Zhongxin Ningbo on November 28, following the approval of the board and supervisory committee [1][5]. - The termination was formalized through a signed agreement with relevant parties, including Zhongxin International's wholly-owned subsidiary [5]. Group 2: Background of the Acquisition - The acquisition plan was initially announced on June 5, where Guoke Micro intended to purchase 94.366% of Zhongxin Ningbo's shares through a combination of stock issuance and cash payment [4]. - Guoke Micro had issued multiple progress announcements regarding the acquisition from July to October [4]. Group 3: Reasons for Termination - The termination was attributed to the inability to reach agreement on various aspects of the transaction despite efforts from all parties involved [6]. - The decision was made after thorough communication and consideration, emphasizing a cautious approach to protect the interests of the company and its investors [6]. Group 4: Expert Opinions - Experts had previously expressed skepticism about the acquisition, noting the lack of synergy between Guoke Micro, a fabless chip design company, and Zhongxin Ningbo, a foundry specializing in RF devices and MEMS [7]. - The differing focuses of the two companies raised concerns about the limited collaborative potential between digital chip design and analog chip foundry services [7].