Core Insights - The IPO market for Chinese companies has shown signs of recovery in the first three quarters of 2025, with an increase in the number of IPOs supported by VC/PE institutions and a rise in average issuance returns [4][23]. VC/PE Supported IPO Performance - In the first three quarters of 2025, there were 102 IPOs supported by VC/PE institutions, involving 562 organizations, marking a year-on-year increase of 18.6% [6][13]. - The total financing amount for these IPOs reached approximately RMB 98.746 billion, reflecting an increase of 83.4% year-on-year [13]. - The average book value of shares held by VC/PE institutions in newly listed companies was about RMB 183.312 billion, up 93.8% year-on-year [6]. Market Penetration and Trends - The VC/PE penetration rate in the IPO market was approximately 63.4%, a decrease of 2.8 percentage points compared to the entire year of 2024, indicating a relatively low level [16]. - The penetration rate for A-shares was 73.1%, down 1.9 percentage points, while the overseas market's penetration rate was 54.2%, a decline of 2.6 percentage points [16]. Average Book Return - The average book return multiple for VC/PE supported IPOs was 3.58 times, with A-shares showing a return multiple of 3.30 times, which is higher than the overseas market's 3.79 times [20]. Conclusion - The first three quarters of 2025 have released positive signals for the Chinese IPO market, with a steady increase in new stock issuance and a growing trend of companies going public in Hong Kong [23]. - Despite the recovery signs, the overall penetration rate of VC/PE institutions remains low, and the number of IPOs is not expected to return to the peak levels of 2021 in the short to medium term [23].

Group 1 - The core point of the article is that Qingke Holdings (01945.HK) has subscribed to a financial product issued by Fosun, with a total principal amount of 1.2 million USD, set to mature on October 15, 2025 [1] - Prior to the latest subscription, Qingke Hong Kong had already subscribed to several financial products issued by Fosun, with an outstanding principal amount of 3.5 million USD that has not yet been redeemed as of the announcement date [1]

Core Viewpoint - Qingke Holdings (01945) has announced that its indirect wholly-owned subsidiary, Qingke Hong Kong, has subscribed to a financial product issued by Fosun with a total principal amount of 1.2 million USD [1] Summary by Categories Subscription Details - Qingke Hong Kong has subscribed to a financial product from Fosun with a principal amount of 1.2 million USD, set to mature on October 15, 2025 [1] - Prior to this latest subscription, Qingke Hong Kong had already subscribed to several financial products from Fosun, with an outstanding principal amount of 3.5 million USD that has not yet been redeemed [1]

Core Viewpoint - Qingke Holdings (01945) announced that its indirect wholly-owned subsidiary, Qingke Hong Kong, has subscribed to a financial product issued by Fosun with a total principal amount of 1.2 million USD [1] Group 1 - Prior to the latest subscription, Qingke Hong Kong had already subscribed to several financial products issued by Fosun, with an outstanding principal amount of 3.5 million USD that has not yet been redeemed [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倚賴該等內容而引致的任 何損失承擔任何責任 。 ZERO2IPO HOLDINGS INC. 須予披露交易 認購理財產品 認購理財產品 董 事 會 宣 佈，於2025年10月15日，本 公 司 的 間 接 全 資 附 屬 公 司 清 科 香 港已認購由復星發售的本金總額為1.2百 萬 美 元 之 理 財 產 品。於 最 新 復 星 認 購 事 項 前，清 科 香 港 已 認 購 由 復 星 發 售 的 若 干 理 財 產 品，截 至 本 公 告 日 期，本 金 金 額 為3.5百萬美元之理財產品尚未贖回。 上市規則的涵義 由 於 已 向 復 星 認 購 的 理 財 產 品 性 質 相 若，故 於 計 算 相 關 百 分 比 率 時， 將根據上市規則第14.22條 於 相 關 期 間 進 行 合 併 計 算，猶 如 與 復 星 僅 進 行 一 項 交 易。 由於最新復星認購事項之合併計算的最高適用百 ...

格隆汇10月10日丨清科控股(01945.HK)发布公告，2025年10月13日以2016港元回购1600股，回购价格每 股1.25-1.27港元。 ...

清科控股(01945)发布公告，该公司于2025年10月13日斥资2016港元回购1600股股份，每股回购价格为 1.25-1.27港元。 ...

智通财经APP讯，清科控股(01945)发布公告，该公司于2025年10月13日斥资2016港元回购1600股股份， 每股回购价格为1.25-1.27港元。 ...

如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 備註： *僅供識別 第 1 頁 共 7 頁 v 1.3.0 FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) FF305 表格類別： 股票 狀態： 新提交 公司名稱： 清科控股有限公司* 呈交日期： 2025年10月13日 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 01945 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | ...

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 | | | 致：香港交易及結算所有限公司 公司名稱: 清科控股有限公司* 呈交日期: 2025年10月8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) | 01945 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | USD | | 0.0001 | USD | | 50,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | 0 | | 本月底結存 | | | 500,000,000 | USD | | 0.0001 | USD | | 50,000 | 本月底法定/註冊股本總額： USD 50,000 備註： * 僅供 ...