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8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 秀商時代控股有限公司 呈交日期: 2025年9月2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) | 01849 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/ ...

Group 1 - Hong Kong film stocks experienced a surge, with New Stone Culture rising over 9% [1] - China Star Group increased by more than 7% [1] - Damai Entertainment saw a rise of over 6% [1]

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7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 秀商時代控股有限公司 呈交日期: 2025年8月4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) | 01849 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/ ...

Core Viewpoint - Xiushang Times Holdings (01849) announced the resignation of Ms. Liang Ke-yi as the co-company secretary and authorized representative effective from July 29, 2025, with Ms. Lin Yanling appointed as the new co-company secretary and authorized representative [1] Company Changes - Ms. Liang Ke-yi will resign from her position as co-company secretary and authorized representative [1] - Ms. Lin Yanling has been appointed to take over the role of co-company secretary and authorized representative [1]

Group 1 - The company Xiushang Times Holdings (01849) announced that Ms. Liang Ke-yi will resign as the co-company secretary and authorized representative effective from July 29, 2025 [1] - Ms. Lin Yan-ling has been appointed as the co-company secretary and authorized representative [1]

Core Viewpoint - Xiushang Times Holdings (01849.HK) announced the resignation of Liang Ke-yi, effective July 29, 2025, from multiple positions including co-secretary and authorized representative under Hong Kong company regulations [1] Group 1 - Liang Ke-yi has resigned from the positions of co-secretary, authorized representative for legal documents, and authorized representative under the Listing Rules, effective July 29, 2025 [1] - Lin Yanling has been nominated and appointed by Baodelong Enterprise Services (Hong Kong) Limited as the new co-secretary and authorized representative, effective July 29, 2025 [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（「聯交所」）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，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 (i) 本公司之聯席公司秘書（「聯席公司秘書」）； (ii) 根據《公司條例》（香港法例第622章）第16部項下代表本公司於香港接收送達的 法律程序文件及通知之本公司獲授權代表（「根據《公司條例》的獲授權代表」）； 及 (iii) 根據聯交所證券上市規則第3.05條項下本公司之授權代表（「根據《上市規則》的 授權代表」）。 委任聯席公司秘書及授權代表 AM GROUP HOLDINGS LIMITED 秀商時代控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1849） 聯席公司秘書及授權代表之變更 辭任及退任聯席公司秘書及授權代表 秀商時代控股有限公司董事會（分別為「本公司」、「董事」及「董事會」）謹此宣佈，梁 可怡女士（「梁女士」）已辭任並退任以下職務，自二零二五年七月二十九日起生效： 梁女士已確認彼與董事會並無意見分歧，亦無與其辭任及退任上述職務有關之事項 須提請本公司股東 ...

補充公告 謹此提述秀商時代控股有限公司（「本公司」）日期為二零二四年二月二十九日的公告 及本公司日期為二零二五年二月二十六日的公告（統稱「該等公告」），內容有關陳佳 仁先生（「陳先生」）及許聞釗先生（「許先生」）各自獲委任為本公司的獨立非執行董事 （「董事」）。除非文義另有指明，否則本公告所用的專有詞彙應具有該等公告所界定 的相同涵義。 董事謹此補充，陳先生及許先生已分別確認，於彼等各自的公告所載各項任命的生 效日期，以及直至本公告日期為止，彼等各自(i)已符合上市規則第3.13條所載的獨 立性準則；(ii)於本公司或其附屬公司的業務中並無擁有任何過往或現有財務或其 他權益，與本公司任何核心關連人士（定義見上市規則）亦無任何關聯；及(iii)並無 可能影響其獨立性的其他因素。 繼續暫停買賣 （於開曼群島註冊成立的有限公司） 香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 AM GROUP HOLDINGS LIMITED （股份代號：1 ...

Summary of Key Points from Conference Call Industry Overview - The conference call focuses on the **data center industry** in China, particularly the impact of the H20 ban and the overall market dynamics related to AI and data centers [1][3][19]. Core Insights and Arguments - **Impact of H20 Ban**: The H20 ban has not significantly affected the server and switch deployment rates of major IDC companies. For instance, Century Internet raised its full-year performance guidance due to better-than-expected deployment rates in Inner Mongolia [3][19]. - **Strong Demand for Domestic Computing Power**: Despite initial concerns following the H20 ban, the demand for domestic computing power remains robust, with several leading companies showing improved profitability in Q2 [3][12]. - **Growth in Optical Module and Switch Industries**: The optical module and switch sectors are experiencing high demand, with companies like LightSpeed and Huagong expected to achieve record revenues in Q2, indicating a strong growth momentum in the supply chain [4][19]. - **Shift in AI Investment Focus**: There is a notable shift in overseas AI investment from training to inference and application, with significant increases in demand for ASICs and inference capabilities, suggesting that domestic AIDC will benefit from global AI development [5][19]. - **REITs Performance**: The issuance of data center REITs by Century Internet and Runze was highly successful, with subscription multiples reaching 167 times, indicating strong investor confidence in data centers as quality assets in the AI era [6][7][19]. - **Price Trends and Deployment Rates**: Data center deployment rates are steadily increasing, and a price turning point is anticipated as supply-demand dynamics shift. Local governments are becoming more cautious regarding land and energy approvals, which may influence future construction [10][11][19]. Additional Important Insights - **Profitability Improvement Factors**: The improvement in data center profitability is driven by increased deployment rates and rising rental prices. If new GPU versions resolve supply issues, deployment rates could accelerate further [9][19]. - **Investment Value of Data Centers**: The stability of rental income and the potential for future rental increases enhance the investment value of data centers, particularly in first-tier cities [8][19]. - **Regional Advantages**: Ulanqab is highlighted as a significant AI computing center due to its low electricity costs and abundant resources, making it an attractive location for data center development [16][19]. - **Market Dynamics in First-tier Cities**: There is a notable increase in data center demand in first-tier cities, driven by AI inference needs, which is expected to lead to a tightening supply and potential price increases [17][19]. - **Long-term Outlook for Overseas Data Centers**: The overseas data center market remains in a high-growth phase, with strong demand continuing, suggesting that China could replicate this growth trajectory despite short-term challenges [18][19]. - **Future Catalysts for Industry Growth**: Key factors influencing future industry growth include advancements in domestic and international models, application deployment, and potential increases in capital expenditures from major internet companies [21][19].

AM GROUP HOLDINGS LIMITED 秀商時代控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1849） 提名委員會職權範圍 （經本公司於二零一九年六月三日舉行的董事會會議上採納， 並根據日期為二零二五年六月二十四日的董事會書面決議案修訂） 組成 1. 提名委員會乃根據本公司董事會（「董事會」，董事會各董事稱為「董事」）的決議 案成立。 成員 會議次數及程序 – 1 – 2. 提名委員會的成員須由董事會從董事之中委任，而提名委員會須由不少於三名 成員組成，其中過半數應為獨立非執行董事，且至少有一名不同性別的成員。 提名委員會會議的法定人數須為提名委員會任何兩名成員，而其中一名必須為 獨立非執行董事。 3. 提名委員會主席須由董事會主席或一名獨立非執行董事擔任。 4. 提名委員會成員的任期須由董事會決定。 5. 除非本文另有註明，否則提名委員會的會議受本公司組織章程細則中監管董事 會議及程序的條文規管。 6. 提名委員會每年至少須舉行一次會議。提名委員會的主席須應提名委員會任何 成員的要求召開會議。 7. 會議的議程及任何相關的委員會文件應全部及時送交提名委員會全體成員，並 須至少於提 ...