股份方面，该行短期看好金沙中国(01928)，因预期公司将于2月底宣布提高2026年度派息，同时预计公 司第四季的市场份额及利润份额均将有所提升; 现予目标价24.5港元，评级"增持"。长期而言，维持首 选银河娱乐(00027)，因公司兼具强劲价值及长远增长潜力，加上第四期发展项目或于明年起反映在股 价之中;目标价50港元，亦获"增持"评级。同时，该行继续建议避开新濠国际发展(00200)及澳博控股 (00880)，分别予"减持"及"中性"评级。 智通财经APP获悉，摩根大通发布研报称，数据显示澳门12月首七天的博彩总收入为52亿澳门元(下 同)，即日均约7.42亿元，较11月升逾5%，亦较去年同期增长超过25%，虽然基数较低。乐观情境下， 若升幅能持续至月底，今年第四季的博彩总收入或同比升18%至19%，按季升8%至9%，达至六年高 位，显著高于该行及市场预期的13%至14%。该行认为，目前行业估值极低，2026年EV对EBITDA比率 为9倍，低于历史平均值13倍。该行估算，估值倍数每扩张1倍，股权价值可提升15%以上; 在最乐观情 境下，若估值完全回复至历史平均水平，该板块总市值有望提升超过60%。 ...

股份方面，该行短期看好金沙中国(01928)，因预期公司将于2月底宣布提高2026年度派息，同时预计公 司第四季的市场份额及利润份额均将有所提升;现予目标价24.5港元，评级"增持"。长期而言，维持首选 银河娱乐(00027)，因公司兼具强劲价值及长远增长潜力，加上第四期发展项目或于明年起反映在股价 之中;目标价50港元，亦获"增持"评级。同时，该行继续建议避开新濠国际发展(00200)及澳博控股 (00880)，分别予"减持"及"中性"评级。 新濠国际发展 银河娱乐 澳博控股 金沙中国有限 分时图 日K线 周K线 月K线 4.75 -0.04 公司 -0.84% 0.84% 0.63% 0.21% 0.00% 0.21% 0.63% 0.84% 4.75 4.76 4.78 4.79 4.80 4.82 4.83 09:30 10:30 12:00/13:00 14:00 16:10 0 6万 11万 17万 摩根大通发布研报称，数据显示澳门12月首七天的博彩总收入为52亿澳门元(下同)，即日均约7.42亿 元，较11月升逾5%，亦较去年同期增长超过25%，虽然基数较低。乐观情境下，若升幅能持续至月 底，今 ...

Core Viewpoint - Morgan Stanley's research report indicates that Macau's total gaming revenue for the first seven days of December reached 5.2 billion MOP, averaging approximately 742 million MOP per day, representing an increase of over 5% from November and more than 25% year-on-year, albeit from a low base [1] Group 1: Industry Performance - If the optimistic scenario continues until the end of the month, the total gaming revenue for Q4 could increase by 18% to 19% year-on-year and by 8% to 9% quarter-on-quarter, reaching a six-year high, significantly above the bank's and market's expectations of 13% to 14% [1] Group 2: Company Outlook - In the short term, the company is optimistic about Sands China, anticipating an announcement in late February regarding an increase in the 2026 dividend, along with expected improvements in market share and profit share for Q4; a target price of 24.5 HKD is set with a "Buy" rating [1] - In the long term, the company maintains a preference for Galaxy Entertainment due to its strong value and long-term growth potential, with the fourth phase development project expected to reflect in the stock price starting next year; a target price of 50 HKD is also set with a "Buy" rating [1]

FF301 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: 金沙中國有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年12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) | 01928 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 16,000,000,000 | USD | | 0.01 | USD | | 160,000,000 | | 增加 / 減少 (-) | | | | 0 | | | USD | | | | 本月底結存 | | | 16,000,000,000 | USD | | 0.01 | USD ...

智通财经APP获悉，摩根大通发布研报称，澳门博彩业势头持续向好，总收入再创强劲佳绩。11月博彩 总收入同比增长14%，达211亿澳门元，恢复至疫情前水平的92%，为疫情以来最佳复苏状态。随著盈 利可见度提高及投资者基础扩大，该行认为未来数季其行业估值存显著上调空间。该行的投资排序为： 金沙中国(01928)及银河娱乐(00027)＞永利澳门(01128)及美高梅中国(02282)＞新濠博亚娱乐(MLCO.US) ＞澳博控股(00880)＞新濠国际发展(00200)。 小摩现预计，12月博彩总收入同比增15%以上，且仍有上调空间或出现20%以上的增长。该行认为，若 达成此目标，今年第四季澳门博彩总收入年增将达15-16%，季增5-6%，为六年来最佳季度，远超该行 及市场普遍预期的约12%同比增长。 该行表示，看好2026年澳门博彩股，尽管市场已有所预期，但12月博彩总收入的加速增长仍将提振短期 市场情绪，同时，金沙中国有望于2月将其每股派息翻倍，美高梅中国或将在3月提高派息比率，这将体 现运营商对盈利及现金流可持续增长的强大信心。该行预计，受惠于低基数效应，增长势头有望延续至 明年首季。 ...

Market Overview - Hong Kong stocks opened higher but closed lower, with the Hang Seng Index rising 0.24% to 26,095.05 points and a total turnover of 178.25 billion HKD [1] - The Hang Seng Tech Index fell 0.37% to 5,624.04 points, while the Hang Seng China Enterprises Index increased by 0.11% to 9,182.65 points [1] Blue Chip Performance - Galaxy Entertainment (00027) led blue-chip stocks, rising 2.81% to 40.98 HKD, contributing 3.88 points to the Hang Seng Index [2] - Other notable blue-chip performers included Hengan International (01044) up 2.69% and Budweiser APAC (01876) up 2.35% [2] - WuXi AppTec (02359) fell 3.13%, negatively impacting the index by 2.2 points [2] Sector Highlights - Macau's November gaming revenue reached 21.09 billion MOP, a 14.4% year-on-year increase, exceeding market expectations [4] - The mobile phone supply chain remained active, with notable gains in companies like AAC Technologies (02018) and BYD Electronics (00285) [4][5] - The automotive sector showed mixed results, with BYD (01211) up 2.19% while Xpeng Motors (09868) fell 5.52% [5][6] Notable Stock Movements - Conant Optical (02276) surged 10.58% to 54.85 HKD following the launch of AI glasses in collaboration with Alibaba [8] - Giga Biotech (02367) rose 8.53% after announcing a share buyback plan [9] - GAC Group (02238) increased by 7.32% due to positive management announcements regarding new battery technology and partnerships [10] - Longpan Technology (02465) saw a 4.1% increase amid industry price adjustments in lithium iron phosphate [11] - 3SBio (01530) faced pressure, dropping 4.61% after announcing a share placement to raise capital [12]

金沙中国有限公司(1928.HK)：业绩渐回稳健轨道 伦敦人增长带动市占率提升 金沙中国有限公司 (01928.HK)：得益于再投资率项目 公司市场份额增长= 大行评级丨摩根大通：预测澳门12月博彩总收入 增长15%以上 长期首选银河娱乐 银河娱乐(00027.HK)因股份奖励计划获采纳发行434.47万股 相关事件 摩根大通发表研报指，澳门11月博彩总收入按年增长14%至211亿澳门元，恢复至疫情前水平的92%， 为疫情爆发以来的最佳复苏表现。摩通认为，目前预测12月博彩总收入增长15%以上，但所有迹象均显 示有上行风险；又认为即使录得逾20%增长亦不奇怪，很可能使2025年以全年最佳业绩收官。 该行短期(约6个月内)看好金沙中国，因其有望于2026年提高股息(2月下旬)，并预计其在2025年第四季 度将赢取市场及利润份额。长期而言(12个月以上)，银河娱乐仍是其长期首选，因该行认为银娱兼具强 劲价值与长期增长潜力，且第四期工程(预计2027年开业)的潜在价值可能于明年某个时候反映在股价 中。 ...

每经AI快讯，港股博彩股悉数上扬，截至发稿，美高梅中国(02282.HK)涨2.48%，报16.97港元；金沙中 国(01928.HK)涨2.15%，报21.88港元；银河娱乐(00027.HK)涨1.96%，报40.64港元；永利澳门 (01128.HK)涨1.54%，报6.59港元。 ...

智通财经APP获悉，博彩股悉数上扬，截至发稿，美高梅中国(02282)涨2.48%，报16.97港元；金沙中国 (01928)涨2.15%，报21.88港元；银河娱乐(00027)涨1.96%，报40.64港元；永利澳门(01128)涨1.54%，报 6.59港元。 消息面上，12月1日，澳门博彩监察协调局公布，11月份澳门幸运博彩毛收入为210.9亿澳门元，同比增 长14.4%。今年前11个月澳门博彩毛收入累计达2265.2亿澳门元，同比升8.6%。摩通大根此前研报认 为，澳门博彩收入略微强劲，但博彩股股价略低，看好博彩股在明年的趋势。 ...

Group 1: Stock Movements - Emperor International (00163) rose nearly 6% after reaching an agreement with banks to restore existing loan arrangements based on previously agreed commercial terms [1] - Gaming stocks generally increased, with MGM China (02282) up 3.43%, Melco International Development (00200) up 2.24%, Sands China (01928) up 2.32%, and Galaxy Entertainment (00027) up 1.81%. Morgan Stanley reported that total gaming revenue for the first 23 days of the month was MOP 15.6 billion, averaging MOP 678 million per day [1] - Dongyue Group (00189) increased nearly 5% as PVDF market prices rose from CNY 49,000 per ton at the beginning of November to CNY 52,000 per ton as of November 20 [1] - UBTECH Robotics (09880) surged over 4% after announcing a successful bid for a humanoid robot data collection and training center project in Jiangxi, valued at CNY 143 million [1] Group 2: Strategic Partnerships and Collaborations - China Energy Storage Technology (02399) fell over 6% after announcing a non-binding memorandum of understanding for strategic cooperation with Guo Heng Group Pte. Ltd. [2] - Yujian Technology (02432) rose over 6% after signing a strategic cooperation framework agreement with Green Source Group (02451) to promote the application of 5,000 robotic dogs in smart store upgrades [2] - Junsheng Electronics (00699) and Hezhima Intelligent (02533) continued to rise, with Junsheng up 4.14% after announcing a strategic cooperation to jointly develop robot control systems and solutions [3] Group 3: Market Trends and Consumer Behavior - Gold stocks collectively rose, with Zhenfeng Gold (01815) up 5.8%, China Silver Group (00815) up 2.99%, Lingbao Gold (03330) up 4.66%, Chifeng Gold (06693) up 3.3%, and China Gold International (02099) up 5.38%. Recent comments from Federal Reserve officials and delayed economic data have supported expectations for interest rate cuts [2] - Mixue Group (02097) saw a nearly 3% increase amid speculation about launching a breakfast menu, with initial trials in select cities [3] - Pop Mart (09992) rose nearly 4% following a government initiative aimed at enhancing consumer goods supply and promoting diverse consumption [4]