Core Viewpoint - The Hong Kong stock market experienced a significant decline in technology stocks, with the Hang Seng Technology Index dropping over 2% [1] Group 1: Market Performance - BYD Electronics fell by over 5%, while other notable declines included ASMPT, JD Health, SMIC, SenseTime-W, Kingdee International, Baidu, which all dropped over 3% [1] - Other companies such as Sunny Optical, Kingsoft, Huahong Semiconductor, Alibaba Health, Tencent Music, Alibaba, and Meituan saw declines exceeding 2% [1] Group 2: Stock Performance Data - BYD Electronics: -5.50% YTD change, market cap of 87.469 billion [2] - Horizon Robotics-W: -4.57% YTD change, market cap of 122.49 billion [2] - ASMPT: -3.74% YTD change, market cap of 26.6656 billion [2] - JD Health: -3.66% YTD change, market cap of 198.171 billion [2] - SMIC: -3.59% YTD change, market cap of 570.005 billion [2] - SenseTime-W: -3.21% YTD change, market cap of 93.204 billion [2] - Kingdee International: -3.46% YTD change, market cap of 52.461 billion [2] - Sunny Optical: -2.74% YTD change, market cap of 85.559 billion [2] - Kingsoft: -2.71% YTD change, market cap of 45.206 billion [2] - Huahong Semiconductor: -2.27% YTD change, market cap of 138.142 billion [2] - Alibaba Health: -2.27% YTD change, market cap of 97.232 billion [2] - Tencent Music-SW: -2.25% YTD change, market cap of 269.509 billion [2] - Alibaba-W: -2.23% YTD change, market cap of 3,010 billion [2] - Meituan-W: -2.23% YTD change, market cap of 590.049 billion [2]

Core Viewpoint - The performance of popular Chinese concept stocks showed mixed results, with the Nasdaq Golden Dragon China Index declining by 0.91% [1] Group 1: Stock Performance - JD.com experienced a decline of over 1% [1] - Tencent Music saw a drop of over 1% [1] - XPeng fell by more than 1% [1] - Manbang Group increased by over 1% [1] - New Oriental dropped by more than 5% [1]

Market Overview - The market experienced a low opening followed by a rise, but ultimately remained weak, with the Dow Jones up by 0.44%, the Nasdaq down by 0.76%, and the S&P 500 down by 0.16% [1] Banking Sector - The banking sector continued its strong performance, with notable gains: - Alliance West Bank surged by 4.13% - Citigroup increased by 3.89% - Zions Bank rose by 2.66% - United Bank up by 2.72% - Bank of America gained 2.52% - U.S. Bancorp increased by 2.01% - However, Goldman Sachs and JPMorgan Chase saw declines [3] Technology Sector - The technology sector faced a collective pullback, with significant drops: - Nvidia fell by 4.4% - Intel decreased by 4.27% - Tesla dropped by 1.53% - Amazon declined by 1.67% - Other tech stocks like Qualcomm, Microsoft, Netflix, and META also experienced slight declines, while Apple, Google, and AMD saw minor gains [3] Chinese Concept Stocks - Chinese concept stocks showed weakness, with the China Golden Dragon index down by 1.95% - Notable declines included: - NIO down by 5.29% - Baidu down by 4.6% - Bilibili down by 3.45% - Tencent Music down by 3.15% - Other companies like Xpeng, Alibaba, and NetEase also faced declines exceeding 2% [3] Gold Market - COMEX gold opened high and reached a new high, closing up by 0.72% at $4159.6 per ounce - The intraday range was between a low of $4105 and a high of $4190.9 - The current sentiment towards gold is mixed, with fears of high prices on one side and a prevailing trend on the other [3]

Core Viewpoint - Tencent Music Entertainment Group (01698.HK) will hold a board meeting on November 11, 2025, to review and vote on the unaudited financial results for the three months ending September 30, 2025, along with other announcements [1] Summary by Category - **Company Announcement** - The board meeting is scheduled for November 11, 2025, to discuss the financial performance for the period ending September 30, 2025 [1] - **Financial Reporting** - The meeting will include the review of unaudited financial results for the specified three-month period [1] - **Future Outlook** - The announcement indicates a structured approach to financial reporting and governance within the company [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。 Tencent Music Entertainment Group 騰訊音樂娛樂集團 我們將於 2025 年 11 月 12 日（星 期 三）（香 港 時 間）在 香 港 市 場 交 易 時 間 後 及 美 國 市 場 開 市 前， 上 傳 第 三 季 度 業 績 公 告 至 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）網 站www.hkexnews.hk及本公司網站https://ir.tencentmusic.com。 承董事會命 騰訊音樂娛樂集團 執行董事長 彭迦信 香港，2025年10月14日 於本公告刊發日期，本公司董事會由董事彭迦信先生、梁柱先生、胡敏女士、James Gordon Mitchell先生、 Brent Richard Irvin先生及曾偉業先生，以及獨立董事顏文玲女士、麥佑基先生及陳劍音女士組成。 （港交所股份代號：1698） （紐交所股份代號：TME） 董事會行動 ...

Core Insights - The FDA granted marketing authorization for ProSense® for the local treatment of low-risk breast cancer in patients aged 70 and above, following the TME Fall Summit, which is expected to enhance commercial traction due to significant interest from key opinion leaders [2][5]. Company Overview - IceCure Medical Ltd. specializes in minimally-invasive cryoablation technology, which destroys tumors by freezing, providing an alternative to surgical tumor removal [1][8]. - The ProSense® Cryoablation System is the first and only device authorized by the FDA for treating low-risk breast cancer in specific patient demographics, including those unsuitable for surgery [5][6]. Event Participation - IceCure participated in the TME Take the Lead in Breast Cancer Care Fall Summit, which gathered over 40 key opinion leaders to discuss advancements in breast cancer care, particularly focusing on de-escalation strategies and minimally invasive options [1][2]. Clinical Engagement - The company received high interest during a cryoablation faculty session led by Dr. Richard Fine, a prominent investigator in the ICE3 trial, which is the largest cryoablation study in the U.S. [3][4]. - The TME summit highlighted the growing relevance of cryoablation in breast oncology treatment planning, indicating a shift towards less invasive treatment options [2][3]. Product Features - ProSense® utilizes liquid nitrogen to create large lethal zones for effective tumor destruction, enhancing patient recovery by reducing pain and surgical risks [6][7]. - The system is designed for easy transport and can facilitate fast, office-based procedures for breast tumors, making it a convenient option for both patients and providers [7][8].

根据产业报告，预期腾讯音乐将按计划达成第三季度总营收及非国际财务报告准则盈利预测。按业务板 块划分，维持在线音乐服务与社交娱乐收入预测。音乐订阅业务方面，同时维持第三季净增约130万用 户的预测。另外，预测今年第三季度，腾讯音乐总收入同比增长17%，至82亿元人民币，季度用户 ARPU为11.9元人民币，毛利约35.9亿元人民币，毛利率可达43.8%，主要受惠其他收入更快增长，初步 预测其他收入为22亿元人民币，同比增长35%。 富瑞发布研报称，腾讯音乐-SW(01698)行业最新产业（300832）趋势分析再次印证业务动向，基于每月 iOS收入数据分析各子产业趋势。该行认为，优质增长与SVIP服务是关键，重点领域包括SVIP功能升 级、粉丝经济潜力及线下演唱会发展，对腾讯音乐维持"买入"评级。 ...

智通财经APP获悉，富瑞发布研报称，腾讯音乐-SW(01698)行业最新产业趋势分析再次印证业务动向， 基于每月iOS收入数据分析各子产业趋势。该行认为，优质增长与SVIP服务是关键，重点领域包括SVIP 功能升级、粉丝经济潜力及线下演唱会发展，对腾讯音乐维持"买入"评级。 根据产业报告，预期腾讯音乐将按计划达成第三季度总营收及非国际财务报告准则盈利预测。按业务板 块划分，维持在线音乐服务与社交娱乐收入预测。音乐订阅业务方面，同时维持第三季净增约130万用 户的预测。另外，预测今年第三季度，腾讯音乐总收入同比增长17%，至82亿元人民币，季度用户 ARPU为11.9元人民币，毛利约35.9亿元人民币，毛利率可达43.8%，主要受惠其他收入更快增长，初步 预测其他收入为22亿元人民币，同比增长35%。 ...

Market Overview - The Hang Seng Index (HSI) closed at 26,857.70, down by 100.07 points or 0.37% as of October 7, 16:00 Eastern Time [1] - The index reached a high of 27,169.45 and a low of 26,849.11 during the trading session, with a trading volume of 47.63 million [1] - The HSI's 52-week high is 27,275.90 and the low is 18,856.77, indicating a trading range of 1.19% [1] Blue-Chip Stocks Performance - Major blue-chip stocks mostly declined, with HSBC Holdings closing at HKD 110.069, down 0.75% from the Hong Kong market close [2] - Tencent Holdings closed at HKD 670.363, down 1.05% compared to the Hong Kong market close [2] Individual Stock Movements - Tencent Holdings (00700) saw a slight increase of 0.59% to HKD 677.500, but its ADR price was HKD 670.363, reflecting a decrease of 7.137 [3] - Alibaba Group (09988) decreased by 2.49% to HKD 180.500, with its ADR price at HKD 176.415, down by 4.085 [3] - HSBC Holdings (00005) increased by 0.91% to HKD 110.900, while its ADR price was HKD 110.069, down by 0.831 [3] - Other notable declines include Xiaomi Group (01810) down 2.09% to HKD 53.850 and JD.com (09618) down 2.14% to HKD 137.200 [3]

Group 1: U.S. Universities and Federal Funding Mandate - Nine major U.S. universities are responding to a Trump administration proposal that ties federal funding to specific campus reforms, with a deadline of November 21, 2025 [2][4] - The "Compact for Academic Excellence in Higher Education" includes demands such as halting race and gender considerations in admissions, requiring standardized test scores, freezing tuition for five years, and capping international student enrollment at 15% [3] - Universities that sign the compact could receive substantial federal grants and increased overhead payments, but non-compliance could result in the repayment of federal funds [3] Group 2: China's Internet Sector Growth - China's internet sector reported strong revenue growth in the first eight months of 2025, with national online retail sales increasing by 9.6% and online services consumption growing by 18.9% [5][9] - Key product categories such as smart wearables, computers, and mobile phones saw significant online sales growth of 25.2%, 23.7%, and 20.2% respectively [6] - Major internet companies generated approximately 961.3 billion yuan (about US$133.3 billion) in business revenue, marking a 3.1% year-on-year increase, with R&D spending rising by 2.6% to 48.56 billion yuan [6] Group 3: Japan's Labor Market Trends - Japan's jobless rate rose to 2.6% in August, the highest level in 13 months, with a jobs-to-applicants ratio easing to 1.20, indicating a slight decrease in job availability [8][10] - The number of employed individuals decreased by 0.3% to 68.1 million, while the number of unemployed individuals increased by 9.1% to 1.79 million [10] - Voluntary job leavers increased by 13.2% to 770,000, and dismissals rose by 19.4% to 430,000, suggesting companies are cautious in hiring due to budget constraints [10]