Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling over 200 points, closing below 25,000 points, and the Hang Seng Technology Index dropping by 1.56% [1] - Major technology stocks saw a broad decline, with Alibaba down 2.4% and JD.com down 1.44% [2] Sector Performance - The semiconductor sector faced significant losses, with SMIC dropping over 8%, marking the worst performance in the sector [4] - Gaming stocks also fell sharply, with Wynn Macau down over 7% and MGM China down over 6% [6] - The paper industry saw declines, with Chenming Paper down over 8% [7] - Innovative drug stocks continued to decline, with Hutchison China MediTech down over 15% and Zai Lab down over 10% [8] Positive Performances - Gold stocks led gains in the metals sector, with Zhaojin Mining and Lingbao Gold both rising over 3% [3][10] - Heavy machinery stocks showed resilience, with Zhonglian Heavy Industry rising nearly 6% [3] - Cement stocks performed well, with Shanshui Cement up over 6% [9] - Wind power stocks also saw increases, with Goldwind Technology rising over 10% [11] Capital Flows - Southbound funds recorded a net inflow of 6.271 billion HKD, with the Shanghai-Hong Kong Stock Connect contributing 3.28 billion HKD and the Shenzhen-Hong Kong Stock Connect contributing 2.992 billion HKD [12] Future Outlook - Huatai Securities suggests that the recent pullback in the Hong Kong market is due to adjustments in expectations, but the medium-term liquidity remains accommodative. They recommend focusing on sectors with improving conditions and low valuations, particularly in technology [13]

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。 承董事會命 永利澳門有限公司 主席 盛智文博士 香港，2025年8月8日 於本公告日期，董事會成員包括執行董事潘國宏及羅偉信； 執行董事兼副主席陳志玲； 非執行董事 Ellen F. Whittemore及Julie M. Cameron-Doe；獨立非執行董事兼主席盛智文；及獨立非執行董事林健鋒、 Bruce Rockowitz、蘇兆明及葉小偉。 * 僅供識別 （於開曼群島註冊成立之有限公司） （股份代號：1128及債務股份代號：5280、40102、40259、40357、5754） 董事會召開日期 永利澳門有限公司（「本公司」）董事會（「董事會」）兹通告謹定於2025年8月20日（星期三） 舉行本公司董事會會議，以考慮及通過本公司及其附屬公司截至2025年6月30日止的六 個月中期業績，考慮宣派、建議或支付股息（如有）及處理其他事項。 ...

花旗发表研究报告，永利澳门次季收入按年持平于8.83亿美元，调整后物业EBITDA按年减10%至2.54亿 美元。经赢率调整后EBITDA达2.66亿美元，大致上符合该行预期。该行指，管理层预计，迈向2025年 底，将面对轻微营运干扰，主要是扩建永利皇宫主席俱乐部博彩区的和改造永利大厦，并预计今年新项 目资本支出为2亿至2.5亿美元。花旗将集团2025年至2027年盈利预测下调2%至8%，维持目标价为6.75 港元，评级为"中性"。 ...

瑞银发布研报称，永利澳门(01128)控股股东永利渡假村(Wynn Resorts)公布，澳门调整后物业EBITDA 为2.54亿美元，较去年同期下降约10%，EBITDA达2.66亿美元，低于预期，主要是博彩表现低于预期。 该行维持永利澳门目标价为6.1港元，其评级为"中性"。 瑞银指，永利澳门管理层预料博彩需求于6、7月加速，调整后EBITDA运行速度为每日330万美元。管 理层将继续进行物业升级改造，以保持竞争力，包括扩建永利皇宫主席俱乐部博彩区，以及翻新永利大 厦客房。管理层预计，活动及娱乐中心的建设将于2028年之后完成，但需获得政府批准。该行指，永利 澳门管理层将今年资本支出指引下调5,000万美元，至2亿至2.5亿美元，明年指引维持不变，为4.5亿至5 亿美元。 ...

Core Viewpoint - UBS reports that Wynn Macau's parent company, Wynn Resorts, announced an adjusted property EBITDA of $254 million, a decrease of approximately 10% year-over-year, with EBITDA at $266 million, falling short of expectations due to underperformance in gaming [1] Group 1: Financial Performance - Adjusted property EBITDA for Wynn Macau is reported at $254 million, down about 10% compared to the same period last year [1] - Total EBITDA reached $266 million, which is below market expectations primarily due to weaker gaming performance [1] Group 2: Management Outlook - Wynn Macau's management anticipates an acceleration in gaming demand in June and July, with an adjusted EBITDA run rate of $3.3 million per day [1] - The management plans to continue property upgrades to maintain competitiveness, including the expansion of the Wynn Palace Chairman's Club gaming area and renovations of the Wynn Tower rooms [1] Group 3: Capital Expenditure Guidance - The management has lowered the capital expenditure guidance for this year by $50 million to a range of $200 million to $250 million, while maintaining next year's guidance at $450 million to $500 million [1] - The construction of the activity and entertainment center is expected to be completed after 2028, pending government approval [1]

本文源自：金融界AI电报 里昂发表研究报告，永利澳门次季核心物业息税折旧摊销前利润较上季增长1%至19.79亿港元，低于预 期。即使永利皇宫贵宾厅赢率低于正常水平导致季绩表现不如预期的原因之一，但经运气调整(luck- adjusted)后贵宾厅利润率亦略低于预期。该行指，永利将今年特许经营相关的资本支出目标下调至2亿 至2.5亿美元，但由于永利澳门专属Chairman's Club贵宾博彩区扩建和永利塔酒店客房的翻新，预计会 略有影响。该行维持永利澳门目标价为7港元，评级为"跑赢大市"。 ...

本文源自：智通财经网 消息面上，永利澳门公布控股股东Wynn Resorts, Limited2025年第二季度业绩，澳门业务经营收入约 1.28亿美元，同比减少20.78%；经调整后的物业EBITDAR约2.54亿美元，同比减少9.51%。其中，永利 皇宫经调整后的物业EBITDAR为1.572亿美元，而2024年第二季则为1.845亿美元；永利澳门经调整后的 物业EBITDAR为9,650万美元，而2024年第二季则为9,590万美元。 智通财经获悉，永利澳门(01128)跌超7%，截至发稿，跌7.52%，报6.27港元，成交额1.83亿港元。 ...

智通财经APP获悉，永利澳门(01128)跌超7%，截至发稿，跌7.52%，报6.27港元，成交额1.83亿港元。 消息面上，永利澳门公布控股股东Wynn Resorts, Limited2025年第二季度业绩，澳门业务经营收入约 1.28亿美元，同比减少20.78%；经调整后的物业EBITDAR约2.54亿美元，同比减少9.51%。其中，永利 皇宫经调整后的物业EBITDAR为1.572亿美元，而2024年第二季则为1.845亿美元；永利澳门经调整后的 物业EBITDAR为9,650万美元，而2024年第二季则为9,590万美元。 ...

Group 1 - Wynn Macau's stock price fell nearly 8%, reaching HKD 6.24, marking a new low since July 8 [1] - Wynn Resorts Limited reported a second-quarter adjusted property EBITDAR of USD 25.4 million for its Macau operations, a year-on-year decline of 9.51%, with operating revenue at USD 12.8 million, down 20.78% [1] - The operating revenue for Wynn Palace in the second quarter was USD 540 million, a decrease of 1.5% year-on-year, with adjusted property EBITDAR at USD 16 million, down 14.8% [1] Group 2 - The percentage of table game win for the mass market was 22.3%, lower than the 23.6% recorded in the same period last year [1] - The percentage of VIP table game win as a share of turnover was 2.9%, below the expected range of 3.1%-3.4% for the property and lower than the 4.1% recorded in the second quarter of 2024 [1]

2025年第二季永利皇宫的经营收益为5.396亿美元，较2024年第二季的5.480亿美元减少840万美元。2025 年第二季永利皇宫经调整后的物业EBITDAR为1.572亿美元，而2024年第二季则为1.845亿美元。中场业 务的赌枱赢额百分比为22.3%，低于2024年第二季录得的23.6%。贵宾赌枱赢额占转码数百分比为 2.86%，低于3.1%至3.4%的物业预期范围，并低于2024年第二季录得的4.10%。 2025年第二季永利澳门的经营收益为3.438亿美元，较2024年第二季的3.373亿美元增加650万美元。2025 年第二季永利澳门经调整后的物业EBITDAR为9,650万美元，而2024年第二季则为9,590万美元。中场业 务的赌枱赢额百分比为17.4%，略低于2024年第二季录得的17.5%。贵宾赌枱赢额占转码数百分比为 3.41%，略高于3.1%至3.4%的物业预期范围，并高于2024年第二季录得的2.19%。 永利澳门(01128)公布控股股东Wynn Resorts,Limited2025年第二季度业绩，澳门业务经营收入约1.28亿美 元，同比减少20.78%。经调整后的物业EBI ...