Core Insights - The report highlights the pressure on US stock markets, with the Dow Jones Industrial Average closing at 46,021 points, down 203 points or 0.44% [8] - It emphasizes the importance of finding "valuation safety + short-term catalysts" amid ongoing geopolitical tensions in the Middle East, which are affecting inflation and supply chains [8] - The report suggests a strategic asset allocation towards defensive and resource-related assets while maintaining cash reserves to navigate market adjustments [8] Market Overview - The US 10-year Treasury yield rose by 7.1 basis points to 4.329% [8] - Asian stock markets experienced declines, with the Hang Seng Index dropping 524 points or 2.02% to close at 25,500 points [12] - The report notes that Brent crude oil prices surged over 10%, reflecting heightened concerns about inflation and potential interest rate hikes by the Federal Reserve [10][12] Company Performance - Alibaba reported a 36% year-on-year revenue growth in its cloud segment, with total revenue for the quarter reaching 43.3 billion RMB [12] - AIA Group's operating profit after tax increased by 7% to 7.136 billion USD, with a 12% rise in earnings per share [12] - JD Cloud announced it would not follow the trend of price increases for its core products, ensuring cost stability for customers [12] Economic Data - The US Department of Labor reported a decrease in initial jobless claims to 205,000, down 8,000 from the previous week [10] - February new home sales in the US fell sharply by 17.6% month-on-month, with an annualized rate of 587,000 units, significantly below expectations [10] - The report indicates that foreign holdings of US Treasury securities increased to 9.31 trillion USD, an 8% year-on-year rise, primarily driven by Japan, the UK, and China [10]

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: | | --- | | 2026年2月28日 | | 狀態: | | 新提交 | 致：香港交易及結算所有限公司 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 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) 01310 說明 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 1,478,921,568 0 1,478,921,568 增加 / 減少 (-) 0 0 本月底結存 1,478,921,568 0 1,478,921,568 公司名稱: 香港寬頻有限公司 呈交日期: 2026年3月5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) | 01310 | 說明 | | | | | ...

致：香港交易及結算所有限公司 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 | | | 公司名稱: 香港寬頻有限公司 呈交日期: 2026年2月5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) | 01310 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,800,000,000 | HKD | | 0.0001 HKD | | | 380,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | 0 | | 本月底結存 | | | 3,800,000,000 | HKD | | 0.0001 HKD | | | 380,000 | 本月底法定/註冊股本總額： HKD 380,000 FF3 ...

Group 1 - The top three companies with net inflow of southbound funds are SMIC (00981) with 458 million, Sanhua Intelligent Control (02050) with 405 million, and Hua Hong Semiconductor (01347) with 390 million [1] - The top three companies with net outflow of southbound funds are China Mobile (00941) with -601 million, UBTECH (09880) with -516 million, and Sanofi (01530) with -357 million [1] - In terms of net inflow ratio, Haitian Flavoring (03288) leads with 76.61%, followed by Southern Hong Kong Stock Connect (03432) with 62.50%, and CIMC (02039) with 59.57% [1] Group 2 - The top ten companies by net inflow include Tencent Holdings (00700) with 272 million and Alibaba-W (09988) with 263 million [2] - The top ten companies by net outflow include Meituan-W (03690) with -287 million and Bilibili-W (09626) with -242 million [2] - The top three companies with the highest net outflow ratio are Dekang Agriculture (02419) at -50.69%, Sanofi (01530) at -47.05%, and Jianfa International Group (01908) at -45.45% [3]

Core Viewpoint - The announcement indicates that Qiming Star has entered into a framework agreement with Hong Kong Broadband, focusing on providing cybersecurity products and solutions in Hong Kong and Macau until the end of 2028 [1] Group 1: Agreement Details - Qiming Star's subsidiary, Beijing Qiming Star Information Security Technology Co., Ltd., will supply cybersecurity products and services to Hong Kong Broadband and its group members [1] - The agreement is effective until December 31, 2028, with annual transaction limits set for the years 2026, 2027, and 2028 [1] - The transaction limits are capped at 32 million HKD for both 2026 and 2027, and 38 million HKD for 2028 [1] Group 2: Stakeholder Information - Both Qiming Star and Hong Kong Broadband are ultimately controlled by China Mobile Group [1]

Core Viewpoint - The announcement indicates that a wholly-owned subsidiary of the company has signed a framework agreement with Hong Kong Broadband to provide cybersecurity products and solutions until December 31, 2028, which is expected to enhance the company's presence in the Hong Kong and Macau markets [1] Group 1 - The transaction limits for the years 2026 to 2028 are set at HKD 32 million, HKD 32 million, and HKD 38 million respectively [1] - Both parties are ultimately controlled by China Mobile Group, making this transaction a related party transaction [1] - The agreement has been approved by the board of directors and does not require shareholder approval [1] Group 2 - Hong Kong Broadband is reported to have a good operational and financial status, which supports the viability of the transaction [1] - There have been no related party transactions between the two parties from the beginning of the year until the date of disclosure [1]

於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 （股份代號： 1310） HKBN Ltd. 香 港 寬 頻 有 限 公 司 持續關連交易 分銷框架協議 於 本 公 告 日 期，本 公 司 與 啟 明 星 辰 訂 立 分 銷 框 架 協 議，年 期 自 該 協 議 日 期起直至2028 年12 月31 日（包 括 首 尾 兩 日）為 止，內 容 有 關 由 啟 明 星 辰（及╱ 或 其 聯 屬 公 司）供 應 以 及 本 集 團 在 香 港 及 澳 門 購 買 及 分 銷 網 絡 安 全 產 品 及 解 決 方 案 服 務。 上市規則之涵義 香港交易及結算所有限公司和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 就 因本公告全部或任何部分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。 （ ） 框架協議 於 本 公 告 日 期，本 公 司 與 啟 明 星 辰 訂 立 分 銷 框 架 協 議，年 期 自 本 公 告 日 期起直至2028 年12 月31 日（包 括 首 尾 兩 日 ...

Core Viewpoint - Hong Kong Broadband Network (01310.HK) has announced that approximately 370.8 million shares, representing about 25.07% of the company's total issued shares, are held by the public, thus meeting the minimum public float requirement for listing [1] Group 1 - The company has restored compliance with the listing rules regarding the minimum public float of 25% of its issued shares [1]

Core Viewpoint - Hong Kong Broadband (01310) announced that its major shareholder, China Mobile Hong Kong, maintains its stake of 1.107 billion shares, representing approximately 74.84% of the company's total issued shares [1] Shareholding Changes - The number of shares held by core related parties (excluding China Mobile Hong Kong) decreased from 33.207 million shares (approximately 2.25% of total issued shares) to 1.3235 million shares (approximately 0.09% of total issued shares) [1] - As of the announcement date, 371 million shares (approximately 25.07% of total issued shares) are held by the public, thus restoring the minimum public float requirement of 25% as per listing rules [1]

Core Viewpoint - Hong Kong Broadband (01310) announced that China Mobile Hong Kong, along with its concert parties, maintains its shareholding at 1.107 billion shares, representing approximately 74.84% of the company's total issued shares [1] Shareholding Changes - The number of shares held by core connected persons (excluding China Mobile Hong Kong) decreased from 33.207 million shares (approximately 2.25% of total issued shares) to 1.3235 million shares (approximately 0.09% of total issued shares) [1] - As of the announcement date, 371 million shares (approximately 25.07% of total issued shares) are held by the public, thus restoring the minimum public float requirement of 25% as per listing rules [1]