摩根士丹利发布研报称，美图公司(01357)日前公布，已完成向阿里巴巴-W(09988)发行总值2.5亿美元的 可换股债券。若所有可换股债券悉数转换，阿里巴巴将持有美图6.82%的股份，成为其第三大股东。该 行认为是次进展为正面消息，预期美图与阿里巴巴的合作将进一步深化，尤其在电子商务设计领域可产 生强大的协同效应；现予美图目标价15.7港元及"增持"评级。 ...

Group 1 - Morgan Stanley reported that Meitu Inc. has completed the issuance of convertible bonds worth $250 million to Alibaba Group [1] - If all convertible bonds are converted, Alibaba will hold 6.82% of Meitu's shares, becoming its third-largest shareholder [1] - The report views this development as positive news, anticipating that the collaboration between Meitu and Alibaba will deepen, particularly generating strong synergies in the e-commerce design sector [1] Group 2 - Morgan Stanley has set a target price of HKD 15.7 for Meitu and assigned an "Overweight" rating [1]

Group 1: Market Overview - The Hong Kong stock market opened positively on the first trading day of 2026, with the Hang Seng Index rising by 0.34% and the Hang Seng Tech Index increasing by 0.58% [1] - Wall Street analysts suggest that the Federal Reserve's expected interest rate cuts and potential expansion of its balance sheet may reduce policy uncertainty and market volatility, presenting opportunities in global equities and commodities [1] - Despite the current low trading volume and market differentiation in Hong Kong, there are opportunities for gradual accumulation of undervalued assets with resilient fundamentals [1] Group 2: Company News - Meitu Inc. has completed all conditions for a $250 million convertible bond agreement with Alibaba, expected to close by December 31, 2025, with proceeds intended for general business purposes [2] - CITIC Resources anticipates a significant decline in its unaudited consolidated net profit for the year ending December 31, 2025, estimated between HKD 170 million to 230 million, representing a year-on-year decrease of approximately 60% to 70% [2] - XPeng Motors delivered 37,500 smart electric vehicles in December 2025, marking a 2% year-on-year increase, with total deliveries for the year reaching 429,400 units, a 126% growth compared to the previous year [2] - Geely Automobile reported total vehicle sales of 236,817 units in December 2025, a year-on-year increase of approximately 13%, with total annual sales reaching 3,024,567 units, up 39% from the previous year [2] - NIO delivered 48,100 vehicles in December 2025, achieving a monthly record with a year-on-year growth of 54.6%, bringing the cumulative delivery total to 997,600 units by December 31, 2025 [2]

Group 1 - The company, Meitu Inc. (01357), announced the grant of a total of 249,800 shares as part of its share award plan, effective January 1, 2026 [1] - The awarded shares represent approximately 0.01% of the total issued shares as of the date of the announcement, pending acceptance by the grantees [1]

Group 1 - The company, Meitu Inc. (01357), announced the issuance of a total of 249,800 shares as part of its share award plan, effective January 1, 2026 [1] - The awarded shares represent approximately 0.01% of the total issued shares as of the announcement date [1] - The issuance is subject to acceptance by the designated recipients [1]

Core Viewpoint - Meitu has successfully issued $250 million convertible bonds to Alibaba, marking a significant step in their strategic partnership focused on e-commerce, large models, and cloud computing [1] Group 1: Financial Details - The convertible bonds issued by Meitu have a principal amount of $250 million [1] - The net proceeds from this issuance are intended for general business purposes [1] Group 2: Strategic Partnership - Meitu and Alibaba signed a business cooperation agreement on December 30, which will further detail their collaboration [1] - The partnership aims to explore opportunities in e-commerce, large models, and cloud computing [1]

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，並明確表示概不會就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的任何損失承 擔任何責任。 Meitu, Inc. 美图公司 （於開曼群島註冊成立的有限公司，並以「美圖之家」名稱於香港經營業務） (股份代號:1357) 根據股份獎勵計劃授出股份獎勵 本公告乃由美图公司（「本公司」，連同其子公司及合併聯屬實體，統稱「本集團」）根據上市 規則17.06A發佈。 股份獎勵將於股份獎勵計劃的計劃授權上限内透過發行新股份予以滿足。 每股股份獎勵代表一項有條件的權利，在歸屬後可按零購買價格獲得一股股份。於2025年12 月31日，即緊接授出日期（該日為非交易日）前的交易日的股份收市價格為每股港幣7.00元。 1 如承授人不再為僱員（退休原因除外,如適用）或被宣佈破產或無力償債或與其債權人訂立任 何一般安排或妥協，則該承授人的任何尚未歸屬的股份獎勵將自動失效（除非董事會另有決 定）。 授出之原因及裨益 授出股份獎勵之目的為通過股份所有權、股息及就股份支付的其他分派及╱或股份價值的提 升，令承授人的利益與本集 ...

Company News - Meitu Inc. (01357.HK) has fulfilled all conditions for a $250 million convertible bond agreement with Alibaba, expected to complete by December 31, 2025, with net proceeds intended for general business purposes [1] - CITIC Resources (01205.HK) anticipates an unaudited consolidated net profit of approximately HKD 170 million to HKD 230 million for the year ending December 31, 2025, representing a decrease of about 60% to 70% year-on-year [1] - China Power (02380.HK) reported a total consolidated electricity sales volume of 10.0997 million megawatt-hours in November, an increase of 15.38% year-on-year [1] - Huilong Holdings (08021.HK) announced interim results for the period ending October 31, 2025, with revenue of HKD 39.537 million, a decrease of 15.51% year-on-year, while net profit rose by 149.19% to HKD 75.967 million [1] - Xunzhong Communication (02597.HK) has established a holding subsidiary, Anhui Yuhua Shitong Intelligent Technology Co., Ltd., in Ma'anshan City, Anhui Province, for strategic planning and business development [1] - China Biologic Products (01177.HK) has completed the first patient enrollment in a phase clinical trial for its self-developed TDI01 "ROCK2 inhibitor" for the treatment of idiopathic pulmonary fibrosis (IPF), marking it as the first ROCK2 selective inhibitor to enter IPF phase clinical trials globally [1] Collaboration Opportunities - China Digital Technology (01796.HK) has preliminarily agreed with San Zhu Grain Group to explore cooperation opportunities in agricultural digitalization, health food R&D, supply chain digitalization, and market expansion [2] Government Subsidies - Shandong Molong (00568.HK) has recently received a government subsidy of RMB 20 million in cash, which is related to its revenue [3] Buyback Activities - Tencent Holdings (00700.HK) repurchased 1.061 million shares at a cost of HKD 635 million, with buyback prices ranging from HKD 596 to HKD 602 [3] - Xiaomi Group-W (01810.HK) repurchased 3.8 million shares for HKD 149 million, with buyback prices between HKD 39.14 and HKD 39.30 [3] - Yunji (02670.HK) plans to repurchase H-shares in the open market, with a maximum amount not exceeding HKD 100 million [4]

Core Viewpoint - Meitu has successfully completed the conditions for the $250 million convertible bond agreement with Alibaba, with the transaction set to be finalized by December 31, 2025 [1] Group 1 - Meitu issued $250 million in convertible bonds to Alibaba as per the subscription agreement [1] - The net proceeds from the bond issuance will be used for general business purposes [1]

Group 1 - The core point of the article is that Meitu Inc. has completed all the prerequisites for a $250 million convertible bond agreement with Alibaba, with the transaction expected to close by December 31, 2025 [1] - The net proceeds from the issuance of the convertible bonds will be used for general business purposes [1] - In a previous announcement on May 20, Meitu Inc. stated that the partnership with Alibaba would focus on strategic cooperation in e-commerce, large models, and cloud computing, aiming to create unique experiences for users on both platforms [2]