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之內容概不負責， 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 部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 華控康泰集團有限公司 主席 王飛飛 香港，二零二六年三月十六日 董事會會議召開日期 華控康泰集團有限公司（「本公司」）宣佈，本公司謹訂於二零二六年三月二十七日 （星期五）舉行董事會（「董事會」）會議，藉以（其中包括）考慮及批准本公司及其附屬 公司截至二零二五年十二月三十一日止年度之年度業績及其發佈，以及考慮派發末 期股息（如有）。 代表 於本公告日期，董事會由三名執行董事王飛飛先生（主席兼總裁）、郭姿秀女士（財 務總監）及劉劍焜先生；一名非執行董事黃俞先生；以及三名獨立非執行董事鄧麗 華博士、何昊洺博士及姚小民先生組成。 ...

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之內容概不負責， 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 部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 本集團於二零二五財政年度的綜合虧損淨額增加主要由於本集團健身業務產生之減 值虧損所致，具體而言，(i)預期信貸虧損模式下金融資產減值虧損約169.3百萬港 元；(ii)無形資產減值虧損約123.9百萬港元；及(iii)健身業務分部商譽減值虧損約 100.4百萬港元至122.7百萬港元。上述減值虧損乃主要由於(a)因本集團之一間聯營 公司（即全真概念健康事業股份有限公司「全真概念」，本公司間接擁有其29%股權） 經營困難及資金緊絀而終止於台灣的特許經營健身業務（誠如本公司日期為二零二 五年八月十五日的盈利警告公告（內容有關減值虧損）、本公司日期為二零二五年八 月二十八日的截至二零二五年六月三十日止六個月的中期業績公告（尤其是當中第 15頁）及本公司日期為二零二五年九月三十日的內幕消息公告（「二零二五年九月三 盈利警告 本公告乃由華控康泰集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據 香港聯合 ...

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 公司名稱: 華控康泰集團有限公司 呈交日期: 2026年3月3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) | 01312 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.002 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | HKD | | 0.002 | HKD | | 200,000,000 | ...

Core Insights - Diversification is the cornerstone of modern asset allocation theory, aiming to optimize risk-adjusted returns by constructing a diversified asset portfolio that reduces unsystematic risk while retaining expected returns [1] - The Hang Seng Index exhibits a significant "triple structure" characteristic, with approximately 35% comprising local blue-chip stocks, 50% from mainland enterprises listed in Hong Kong, and the remainder from international large companies, providing a unique regional distribution that benefits from Hong Kong's status as an international financial center [1] Group 1: Market Dynamics - The long-term correlation between the Hang Seng Index and other indices like the CSI 300 and S&P 500 is low, allowing Hong Kong stocks to exhibit differentiated performance during market fluctuations driven by mainland liquidity cycles or U.S. Federal Reserve policies [4] - In 2025, the Hang Seng Index achieved a year-to-date increase of 28.89%, serving as an effective beta hedge during global market turbulence [4] Group 2: Currency and Profit Structure - The Hang Seng Index is traded in Hong Kong dollars, but over half of its underlying assets are from mainland enterprises, with revenue structures encompassing multiple currencies, making it a natural currency hedge [4] - The index benefits from currency fluctuations, as appreciation of the Renminbi enhances the index's performance when mainland earnings are converted to Hong Kong dollars, while a strong U.S. dollar maintains stability through the linked exchange rate system [4] Group 3: Sectoral Differences - The technology sector in A-shares focuses on hard manufacturing such as semiconductors and new energy, while the Hong Kong tech sector is dominated by internet giants, with over 60% of the Hang Seng Tech Index comprising information technology [5][6] - The structural differences in underlying assets lead to significant divergence in performance between A-shares and Hong Kong stocks, providing effective industry risk hedging opportunities [6] Group 4: Capital Flows - The Hong Kong stock market benefits from a dual-driven capital structure of "southbound funds + international allocation funds," contrasting with the A-share market dominated by domestic retail and institutional investors [6] - Continuous inflows of southbound funds can provide independent support for Hong Kong stocks during liquidity crises in A-shares, while reverse allocations from mainland funds can stabilize the market during geopolitical tensions [8] Group 5: Investment Products - The Huatai-PineBridge Hang Seng Tech ETF Connect (QDII) C (013128) is designed for investors looking to capture the valuation recovery window of the Hang Seng Tech Index, featuring a cost-effective fee structure [8][9] - The fund tracks the Hang Seng Tech Index, which balances soft and hard technology sectors, with major internet platforms like Tencent and Alibaba accounting for over 50% of the index [8] - Other investment products include the Huatai-PineBridge Hang Seng Tech ETF Connect (C) focusing on AI and the Huatai-PineBridge Hong Kong Stock Connect Technology Select Mixed Fund (C) employing active management strategies to identify high-potential assets [10]

Group 1 - The Hang Seng Technology Index (HSTECH) experienced a decline of 2.29% as of February 24, 2026, while NIO-SW and Lenovo Group saw increases of 2.29% and 1.17% respectively. Kingdee International led the decline, with SenseTime-W and Tencent Music-SW also falling [1] - The Hang Seng Technology ETF managed by Huatai-PineBridge has seen continuous net inflows over the past 11 days, with a peak single-day net inflow of 41.84 million yuan, totaling 418 million yuan and an average daily net inflow of 37.96 million yuan [1] - As of February 13, 2026, the unit net value of the Huatai-PineBridge Hang Seng Technology ETF Connect Fund (QDII) C (013128) was 0.85 yuan [1] Group 2 - The technology economy is rapidly replacing the real estate economy as a new growth engine, with new productive forces in emerging manufacturing and high-value-added services expected to have a greater impact on total output than traditional real estate construction chains by 2025 [2] - The Huatai-PineBridge Hang Seng Technology ETF Connect Fund (QDII) C (013128) has achieved a maximum monthly return of 29.52% since its inception, with the longest consecutive monthly gains of 5 months and an average monthly return of 7.37% [2] - The fund has a Sharpe ratio of 1.14 over the past two years, ranking 6th out of 26 comparable funds, indicating a favorable risk-return profile [2] Group 3 - The Huatai-PineBridge Hang Seng Technology ETF Connect Fund (QDII) C is an other-type fund established on October 31, 2022, aiming to closely track the performance of the Hang Seng Technology ETF Huatai-PineBridge (513260) [3] - The current fund manager, Le Wuqiong, has 11.7 years of experience in the securities industry and has achieved a return of 66.33% since taking office on October 31, 2022 [3] Group 4 - The Huatai-PineBridge Hang Seng Technology ETF Connect Fund (QDII) C (013128) serves as a flagship broad-based fund for the Hong Kong technology sector, aiming for balanced allocation of core assets in Hong Kong technology and capturing the long-term growth momentum of China's new economy [4] - The Huatai-PineBridge Hong Kong Stock Connect China Technology ETF Connect C (025167) focuses on core assets in the "Hong Kong M7" and covers the entire AI industry chain, aiming to capture the core value of AI [4] - The Huatai-PineBridge Hong Kong Stock Connect Technology Selected Mixed Fund (025545) employs an active management strategy to dynamically select high-potential assets within the Hong Kong Stock Connect range [4]

Group 1 - The Hang Seng Technology Index (HSTECH) increased by 3.58% as of February 23, 2026, with Meituan-W rising by 5.63% and SMIC by 5.10% [1] - The Hang Seng Technology ETF from Huatai-PineBridge saw continuous net inflows over 11 days, with a maximum single-day net inflow of 41.84 million yuan, totaling 418 million yuan, averaging 37.96 million yuan per day [1] - As of February 13, 2026, the unit net value of the Huatai-PineBridge Hang Seng Technology ETF Connect Fund (QDII) C (013128) was 0.85 yuan [1] Group 2 - Huajin Securities indicated that the post-holiday spring market may continue, with technology growth and cyclical industries performing relatively well, particularly in media (AI applications, gaming), computing (AI applications), electronics (semiconductors, AI hardware), and communications (AI hardware) [2] - The Huatai-PineBridge Hang Seng Technology ETF Connect Fund (QDII) C (013128) achieved a maximum monthly return of 29.52% since inception, with the longest consecutive monthly gains of 5 months and an average monthly return of 7.37% [2] - The fund's Sharpe ratio over the past two years was 1.14, ranking 6th out of 26 comparable funds, indicating a high risk-return profile [2] Group 3 - The Huatai-PineBridge Hang Seng Technology ETF Connect Fund (QDII) C was established on October 31, 2022, and aims to closely track the performance of the Hang Seng Technology ETF, minimizing tracking deviation and error [3] - The current fund manager, Le Wuqiong, has 11.7 years of experience in the securities industry and has achieved a return of 66.33% since taking office on October 31, 2022 [3] Group 4 - The Huatai-PineBridge Hang Seng Technology ETF Connect Fund (QDII) C serves as a flagship broad-based fund for the Hong Kong technology sector, aiming for balanced allocation of core assets in the Hong Kong technology market [4] - The Huatai-PineBridge Hong Kong Stock Connect China Technology ETF Connect C focuses on core assets in the "Hong Kong M7," covering the entire AI industry chain [4] - The Huatai-PineBridge Hong Kong Stock Connect Technology Selected Mixed Fund C employs an active management strategy to dynamically select high-potential assets within the Hong Kong Stock Connect range [4]

Core Insights - The Hang Seng Tech Index exhibits a highly concentrated weight structure, with the top ten constituent stocks accounting for nearly 70% of the total weight, highlighting a significant disparity in market capitalization distribution [1][4]. Group 1: Weight Distribution and Market Capitalization - The top five constituent stocks of the Hang Seng Tech Index have a combined weight of 39.69%, while the top ten account for 69.09%, and the top fifty make up 99.99%, indicating a highly concentrated characteristic [4]. - The largest individual stock, Alibaba, has a market capitalization of HKD 48,764.54 billion, while the smallest stock has a market capitalization of HKD 388.48 billion, with an average market capitalization of HKD 5,183.27 billion and a median of HKD 1,827.69 billion, reflecting significant market capitalization disparity [4]. Group 2: Industry Analysis of Top Constituents - Alibaba is categorized under consumer discretionary and internet platform sectors, with core businesses including retail, cross-border commerce, cloud computing, and digital media, demonstrating strong platform attributes and resilience against cyclical risks [4]. - SMIC (Semiconductor Manufacturing International Corporation) belongs to the information technology and semiconductor sector, positioned at the core of the semiconductor supply chain, benefiting from domestic substitution and AI computing demand [4]. - BYD is classified under consumer discretionary and the electric vehicle sector, with a comprehensive layout across vehicles, batteries, semiconductors, and rail transit, making it one of the most integrated companies in the new energy industry [4]. Group 3: Overall Index Characteristics - The Hang Seng Tech Index is characterized by a concentration of leading firms, distinct technological attributes, and high growth potential, with the top ten constituent stocks focusing on internet platforms, semiconductors, new energy, and consumer electronics, covering the core asset matrix of China's digital economy [5]. - The ETF aims to balance the allocation of core assets in Hong Kong's technology sector while capturing the medium to long-term growth momentum of China's new economy [5].

Group 1 - The Hang Seng Tech Index (HSTECH) increased by 3.20%, with Meituan-W rising by 7.06% and Hua Hong Semiconductor by 4.99% as of February 23, 2026 [1] - The Hang Seng Tech ETF from Huatai-PineBridge has seen continuous net inflows over the past 11 days, with a maximum single-day net inflow of 41.84 million yuan, totaling 418 million yuan, averaging 37.96 million yuan per day as of February 13, 2026 [1] - The upcoming "Two Sessions" starting on March 4, 2026, will focus on promoting technological innovation and developing artificial intelligence, with expectations of more proactive fiscal policies and flexible monetary policies [1] Group 2 - Historical analysis shows that the technology growth sector tends to perform strongly in the 5 to 10 trading days after the Spring Festival, driven by policy and industry catalysts, as well as the performance of tech sectors in both Hong Kong and US markets [2] - The Huatai-PineBridge Hang Seng Tech ETF has achieved a maximum monthly return of 29.52% since its inception, with an average monthly return of 7.37% and a historical holding period profit probability of 78.13% over three years as of February 13, 2026 [2] - The fund has a Sharpe ratio of 1.14 over the past two years, ranking 6th out of 26 comparable funds, indicating a favorable risk-return profile [2] Group 3 - The Huatai-PineBridge Hang Seng Tech ETF is designed to closely track the performance of the Hang Seng Tech Index, aiming to minimize tracking deviation and error, with a return of 66.33% since its manager took over on October 31, 2022 [3] - The fund manager, Le Wuqiong, has 11.7 years of experience in the securities industry [3] Group 4 - The Huatai-PineBridge Hang Seng Tech ETF serves as a flagship broad-based fund for the Hong Kong tech sector, aiming to balance the allocation of core assets in the new economy [4] - The Huatai-PineBridge Hong Kong Stock Connect China Tech ETF focuses on core assets in the AI industry, covering the entire AI value chain [4] - The Huatai-PineBridge Hong Kong Stock Connect Tech Select Mixed Fund employs an active management strategy to identify high-potential assets within the Hong Kong Stock Connect framework [4]

Core Insights - The Hang Seng Tech Index tracked by the Huatai-PineBridge Hang Seng Tech ETF (QDII) exhibits a highly concentrated weight structure, with the top ten constituent stocks accounting for nearly 70% of the total weight [1][6] - The index reflects a significant market capitalization distribution disparity, indicating a power-law distribution characteristic dominated by leading firms [1][6] Weight Distribution and Market Capitalization - The cumulative weight of the top five constituent stocks is 39.69%, while the top ten stocks account for 69.09%, and the top fifty stocks cover 99.99% of the index [2][6] - The total market capitalization of the constituents is notably diverse, with the largest stock (Alibaba) valued at 48,764.54 billion HKD, the smallest at 388.48 billion HKD, an average of 5,183.27 billion HKD, and a median of 1,827.69 billion HKD [6] Analysis of Top Constituents 1. **Alibaba (9988.HK)**: Belongs to the consumer discretionary and internet platform sector, with core businesses in retail, cloud computing, and digital media, demonstrating strong platform attributes and resilience across cycles [6] 2. **SMIC (0981.HK)**: Part of the information technology and semiconductor sector, as a leading foundry in mainland China, it benefits from domestic substitution and AI computing demand [6] 3. **BYD (1211.HK)**: Associated with consumer discretionary and the electric vehicle sector, it has a comprehensive layout across the new energy supply chain, including vehicles, batteries, and semiconductors [6] Overall Index Characteristics - The Hang Seng Tech Index is characterized by a concentration of leading firms, distinct technological attributes, and high growth potential, with the top ten stocks focusing on internet platforms, semiconductors, new energy, and consumer electronics, covering the core assets of China's digital economy [7]

Core Viewpoint - The Hang Seng Technology Index (HSTECH) has experienced a decline of 2.91% as of February 20, 2026, indicating a challenging market environment for technology stocks in Hong Kong [1]. Group 1: Fund Performance and Inflows - The Huatai-PineBridge Hang Seng Technology ETF has seen continuous net inflows over the past 11 days, with a peak single-day net inflow of 41.84 million yuan, totaling 418 million yuan, averaging 37.96 million yuan in daily net inflows [1]. - Since July 2025, overseas-listed ETFs tracking Chinese assets have accumulated net inflows exceeding 14 billion USD, marking a shift in the Chinese market from "tradable" to "investable" [1]. - The Huatai-PineBridge Hang Seng Technology ETF has achieved a maximum monthly return of 29.52% since its inception, with the longest streak of monthly gains being 5 months and an average monthly return of 7.37% [2]. Group 2: Risk and Return Metrics - The Huatai-PineBridge Hang Seng Technology ETF has a Sharpe ratio of 1.14 over the past two years, ranking 6th out of 26 comparable funds, indicating a favorable risk-return profile [2]. - The maximum drawdown for the fund year-to-date is 9.85%, with a relative benchmark drawdown of 0.07% [2]. Group 3: Fund Management and Strategy - The Huatai-PineBridge Hang Seng Technology ETF was established on October 31, 2022, and aims to closely track the performance of the Hang Seng Technology ETF, minimizing tracking deviation and error [3]. - The current fund manager, Le Wuqiong, has 11.7 years of experience in the securities industry and has achieved a return of 66.33% since taking over the fund [3]. Group 4: Investment Tools and Strategies - The Huatai-PineBridge Hang Seng Technology ETF serves as a flagship broad-based fund, aiming for balanced exposure to core Hong Kong technology assets and capturing long-term growth momentum in China's new economy [4]. - The Huatai-PineBridge Hong Kong Stock Connect China Technology ETF focuses on core assets in the "Hong Kong M7," covering the entire AI industry chain, and aims to capture core AI value [4]. - The Huatai-PineBridge Hong Kong Stock Connect Technology Select Mixed Fund employs an active management strategy to dynamically select high-potential assets within the Hong Kong Stock Connect framework [4].