Market Overview - The Hong Kong stock market opened high but experienced fluctuations, with the Hang Seng Index up 0.09% at 25,563.05 points, while the Tech Index fell 0.65% to 5,544.57 points [1] - Major tech stocks showed mixed performance, with Alibaba down 0.78%, Tencent down 0.08%, and JD.com down 0.44%, while Xiaomi rose 0.81% and Meituan increased by 0.8% [1] - Lithium battery stocks performed well, with CATL rising over 2%, while chip stocks weakened, with ZTE down over 9% [1] Company News - Sunny Optical Technology (02382.HK) reported November mobile lens shipments of approximately 119 million units, a month-on-month decrease of 2.3% but a year-on-year increase of 7.5% [2] - Q Technology (01478.HK) saw November mobile camera module sales of 38.05 million units, down 13.6% month-on-month and down 5.6% year-on-year [2] - Yuanyuan Group (00551.HK) reported a net operating income of approximately $660 million in November, a year-on-year decrease of 3.1% [2] - Baoshan International (03813.HK) reported a net operating income of 1.172 billion yuan in November, down 5.1% year-on-year [3] - Morning News Technology (02000.HK) reported unaudited revenue of 44.3 million HKD in November, up 48.4% month-on-month and 19.73% year-on-year [4] - Ocean Group (03377.HK) reported a cumulative contract sales amount of approximately 23.79 billion yuan for the first 11 months [5] - Jianye Real Estate (00832.HK) reported a total property contract sales amount of 7.168 billion yuan for the first 11 months, a year-on-year decrease of 16.3% [6] - Yuzhou Group (01628.HK) reported a cumulative sales amount of 6.196 billion yuan for the first 11 months [7] - COFCO Joycome (01610.HK) reported a pig slaughtering volume of 559,000 heads in November, a month-on-month decrease of 4.44% [8] - CSPC Pharmaceutical Group (01093.HK) received clinical trial approval in the U.S. for its fully human anti-ACTRIIA/IIB monoclonal antibody (JMT206) [9] - China Digital Technology (01796.HK) entered into a strategic cooperation agreement with Xinhua Pharmaceutical [10] - China Hongqiao (01378.HK) announced that the acquisition of Hongtu Industrial by Hongchuang Holdings was approved by the Shenzhen Stock Exchange's M&A Review Committee [11] - CICC (03908.HK) plans to issue perpetual subordinated bonds of no more than 3 billion yuan [12] Institutional Insights - Everbright Securities noted that compared to previous bull markets, the current index has significant upside potential, but the duration of the bull market may be more important than the magnitude of the increase [13] - Guosen Securities indicated that the recent adjustments in the Hong Kong market could open up space for a market rise in 2026, with over 110 billion yuan of net inflow from southbound funds in November [13] - CITIC Securities predicted a second round of valuation recovery for the Hong Kong market in 2026, emphasizing the need to focus on "earnings certainty + valuation elasticity" in sectors like technology, pharmaceuticals, resources, and essential consumption [13]

Core Viewpoint - The strategic cooperation agreement between China Digital Technology (01796) and Xinhua Pharmaceutical Development (Qianjiang) aims to explore collaboration opportunities in traditional Chinese medicine and the health industry in China [1] Group 1: Strategic Cooperation - The agreement focuses on resource development, production, supply chain, modern product research and development, marketing, and capital market collaboration in the traditional Chinese medicine sector [1] - The goal of the strategic cooperation is to achieve resource complementarity and synergistic development between the two companies [1] Group 2: Technological Integration - Both parties intend to leverage big data and advanced intelligent computing to drive the standardization, modernization, and marketing of traditional Chinese medicine through artificial intelligence [1] Group 3: Management and Progress - The companies will hold senior management meetings periodically to discuss the forms, directions, and other related matters of the cooperation projects based on market conditions and collaboration progress [1]

Core Viewpoint - The strategic cooperation agreement between China Digital Technology (01796) and Xinhua Pharmaceutical Development (Qianjiang) aims to explore collaboration opportunities in traditional Chinese medicine and the health industry in China [1] Group 1: Strategic Cooperation - The agreement focuses on resource development, production, supply chain, modern product research and development, marketing, and capital market collaboration in the traditional Chinese medicine sector [1] - The goal of the strategic cooperation is to achieve resource complementarity and synergistic development [1] Group 2: Technological Integration - Both parties intend to leverage big data and advanced intelligent computing to drive the standardization, modernization, and marketing of traditional Chinese medicine through artificial intelligence [1] Group 3: Management Engagement - The companies will hold senior management meetings periodically to discuss the forms, directions, and other related matters of the cooperation projects based on market conditions and progress [1]

根据战略合作协议，公司与新华医药初步同意将会在中华人民共和国的传统中医药与大健康产业共同探 讨合作机遇。为把握中药与大健康产业的政策机遇及市场增长潜力，双方有意在中药资源开发、生产及 供应链、现代中药产品研发、生产及市场推广以及资本市场及产业合作等领域建立战略合作。是次战略 合作的目标是实现资源互补及协同发展。双方亦会进行深度合作，结合大数据及先进智能计算，聚焦以 人工智能驱动中药标准化、现代化及营销。双方可根据市况及合作进度，不时举行高级管理层会议，以 商讨合作项目的形式、方向及其他相关事宜。 格隆汇12月10日丨中国数智科技(01796.HK)宣布，于2025年12月10日，公司与新华医药发展(潜江)有限 公司(「新华医药」)订立了一项战略合作协议。 ...

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 就 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 之 任 何 損 失 承 擔 任 何 責 任。 Metaspacex Limited 中國數智科技集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號︰1796） 自願性公告 戰略合作協議 中 國 數 智 科 技 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）謹 此 發 表 自 願 性 公 告，向 本 公 司 股 東 及 有 意 投 資 者 提 供 有 關 本 集 團 最 新 業 務 發 展 的 最 新 情 況。 訂立戰略合作協議 本 公 司 董 事（「董 事」）會（「董事會」）謹 此 宣 佈，於 二 零 二 五 年 十 二 月 十 日，本 公 司 與 新 華 醫 藥 發 展（潛 江）有 限 公 司（「新華醫藥」）訂 立 了 一 項 戰 略 合 作 協 議（「戰 略 合作協議」）。 根 據 ...

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: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國數智科技集團有限公司 呈交日期: 2025年12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) | 01796 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | 1,000,000,000 | | HKD | | 0.01 | HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 | HKD | | 10,000,000 | 本月 ...

Core Viewpoint - China Digital Technology (01796) reported a revenue of approximately HKD 110 million for the six months ending September 30, 2025, representing a year-on-year decrease of 20.49% [1] - The company recorded a loss attributable to equity holders of approximately HKD 3.746 million, which is a 64.2% reduction compared to the previous year [1] - The decrease in revenue is primarily due to the completion of large projects and a reduction in the number of large projects available in the market [1] Financial Performance - Revenue for the period was approximately HKD 110 million, down 20.49% year-on-year [1] - Loss attributable to equity holders was approximately HKD 3.746 million, a decrease of 64.2% year-on-year [1] - Basic loss per share was HKD 0.78 [1] Project and Market Analysis - The decline in revenue is attributed to the completion of large projects undertaken by the company [1] - There has been a noticeable decrease in the number of large projects available for the company to undertake in the market [1]

Core Viewpoint - China Smart Technology (01796) reported a revenue of approximately HKD 110 million for the six months ending September 30, 2025, representing a year-on-year decrease of 20.49% [1] - The company recorded a loss attributable to equity holders of approximately HKD 3.746 million, which is a 64.2% reduction compared to the previous year [1] - The decrease in revenue is primarily due to the completion of large projects and a reduction in the number of large projects available in the market [1] Financial Performance - Revenue for the period was approximately HKD 110 million, down 20.49% year-on-year [1] - Loss attributable to equity holders was approximately HKD 3.746 million, a decrease of 64.2% year-on-year [1] - Basic loss per share was HKD 0.78 cents [1] Project and Market Analysis - The decline in revenue is attributed to the completion of large projects undertaken by the company [1] - There has been a noticeable decrease in the number of large projects available for the company to undertake in the market [1]

Core Viewpoint - China Digital Technology (01796.HK) reported a significant decline in revenue for the six months ending September 30, 2025, primarily due to the completion of large projects and a decrease in available large projects in the market [1] Financial Performance - The company's revenue decreased by approximately HKD 28.4 million or 20.5% to about HKD 110 million, compared to approximately HKD 139 million for the same period in 2024 [1] - The net loss for the company was approximately HKD 3.7 million, which is a reduction of about HKD 6.8 million compared to a net loss of approximately HKD 10.5 million in the same period of 2024 [1] - The reduction in net loss was mainly attributed to a decrease in administrative and other operating expenses [1]

Financial Performance - For the six months ending September 30, 2025, the group's revenue decreased by approximately HKD 28.4 million or 20.5% to about HKD 110.1 million, compared to HKD 138.5 million for the same period in 2024[12][13] - The group's gross profit slightly decreased by approximately HKD 0.1 million or 3.0% to about HKD 5.1 million, with a gross profit margin of approximately 4.6%, up from 3.8% in the previous period[14] - For the six months ended September 30, 2025, the group recorded a net loss of approximately HKD 3.7 million, a decrease of about HKD 6.8 million or 64.8% compared to the net loss of approximately HKD 10.5 million for the same period in 2024[18] - The company's financing activities generated a net cash inflow of HKD 2,513,000, compared to a cash outflow of HKD 500,000 in the previous year[36] - The company reported a loss attributable to equity holders of HKD 3,746,000 for the six months ended September 30, 2025, compared to a loss of HKD 10,465,000 in the same period of 2024, indicating an improvement of approximately 64.1%[55] - Basic loss per share for the six months ended September 30, 2025, was HKD 0.78, compared to HKD 2.18 for the same period in 2024, reflecting a significant reduction in losses[55] Revenue and Expenses - The decrease in revenue was primarily due to the completion of large projects and a reduction in the number of large projects available in the market[13] - Administrative and other operating expenses, along with expected credit loss provisions, amounted to approximately HKD 9.4 million, a reduction of HKD 3.5 million or 27.0% from approximately HKD 12.9 million in the same period of 2024[16] - Financial costs decreased to approximately HKD 2.1 million, down by HKD 0.7 million or 23.4% from approximately HKD 2.8 million for the same period in 2024, primarily due to a reduction in the average interest rate on borrowings[17] - The total employee costs for the six months ended September 30, 2025, were approximately HKD 8.9 million, a decrease from approximately HKD 12.2 million for the same period in 2024[28] - Employee costs, including directors' emoluments, totaled HKD 8,935,000 for the six months ended September 30, 2025, down from HKD 12,161,000 in the same period of 2024, a decrease of approximately 26.5%[51] Cash Flow and Liquidity - The total cash and cash equivalents as of September 30, 2025, were approximately HKD 44.3 million, an increase from approximately HKD 43.1 million as of March 31, 2025, due to a net cash inflow of approximately HKD 1.2 million from operating and financing activities[19] - The company reported a net cash outflow from operating activities of HKD 1,332,000 for the six months ended September 30, 2025, an improvement from HKD 10,362,000 in the same period last year[36] - Cash and bank balances reached HKD 44,270,000 as of September 30, 2025, compared to HKD 43,089,000 as of March 31, 2025[65] Assets and Liabilities - The group's debt-to-equity ratio increased from approximately 82.8% as of March 31, 2025, to approximately 93.5% as of September 30, 2025, mainly due to an increase in borrowings[19] - The total liabilities increased from HKD 63,313,000 to HKD 67,903,000, marking an increase of approximately 7.5%[34] - The total assets minus current liabilities amounted to HKD 140,717,000, compared to HKD 139,873,000 as of March 31, 2025, reflecting a slight increase of 0.6%[33] - The company's non-current assets decreased from HKD 1,625,000 to HKD 1,160,000, representing a decline of approximately 28.5%[33] - Trade and other receivables decreased from HKD 25,541,000 to HKD 17,691,000, a reduction of about 30.8%[33] Business Outlook and Strategy - The economic outlook for Hong Kong in the second half of 2025 is expected to remain stable with a GDP growth rate projected between 2% and 3%[12] - The company is actively exploring new business opportunities, particularly in the Web3.0 and new energy sectors, which are strongly supported by government policies[12] - The group aims to maintain flexibility and enhance resilience to thrive in the changing economic environment in mainland China and Hong Kong[12] Shareholder Information - Major shareholders include China Sports Asset Management Co., Ltd., holding 360,000,000 shares, representing 75% of the total issued share capital[77] - The company has adopted a share option scheme allowing for a maximum of 48,000,000 shares to be granted, which is 10% of the issued shares as of the report date[80] - The company has not purchased, sold, or redeemed any of its securities during the six months ending September 30, 2025[88] - The company has maintained sufficient public float as required by listing rules as of September 30, 2025[91] Corporate Governance - The company has adopted and complied with the Corporate Governance Code during the reporting period[93] - The Audit Committee, consisting of three independent non-executive directors, reviewed and approved the interim financial statements for the six months ending September 30, 2025[96]