Group 1 - MGM China announced the appointment of Feng Xiaofeng as the new Chief Executive Officer, effective from December 19, 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。 MGM CHINA HOLDINGS LIMITED 美 高 梅 中 國 控 股 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號：2282） 於本公告日期及根據證券及期貨條例第XV部之涵義，馮先生獲授本公司購股權計劃項 下之2,861,100份購股權。 馮先生與本公司任何其他董事、高級管理層、主要或控股股東（定義見上市規則）概無任 何關係。 除上文所披露者外，(i)馮先生於過去三年並無於其他上市公眾公司擔任任何董事職務或 於本公司或其任何附屬公司擔任任何其他職務，且並無任何其他重大委任及專業資格； 及(ii)概無根據上市規則第13.51(2)(h)至13.51(2)(v)條之任何規定而須予披露之進一步資 料，亦無有關馮先生獲委任之其他事宜須敦請本公司股東垂注。 委任首席執行官 本公告乃根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.51(2)條而 ...

Group 1 - The core viewpoint of the report indicates that Macau's average daily gaming revenue over the past week is approximately 650 million MOP, a decline from the previous week's 743 million MOP, attributed partly to lower VIP room win rates [1] - The average daily gaming revenue for the month to date remains around 696 million MOP, reflecting a year-on-year growth of about 19%, but a slight month-on-month decrease of approximately 1%, contrasting with the typical 1% month-on-month increase recorded from 2015 to 2019 during the same period [1] Group 2 - The report expresses a positive outlook on Galaxy Entertainment, Wynn Macau, and MGM China, identifying them as industry favorites with target prices set at 46.9 HKD, 8.9 HKD, and 20.3 HKD respectively, all rated as "Buy" [1]

Group 1 - The company, MGM China, announced the cancellation of 879,400 repurchased shares on December 15, 2025 [1]

Group 1 - MGM China (02282) announced the cancellation of 879,400 repurchased shares on December 15, 2025 [1]

Group 1 - MGM China (02282.HK) announced the cancellation of 879,400 shares that were repurchased on December 15, 2025 [1] - On December 9, MGM China spent HKD 870,000 to repurchase 52,500 shares [1]

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) 表格類別： 股票 狀態： 新提交 公司名稱： 美高梅中國控股有限公司(於開曼群島註冊成立的有限公司) (註7) (i) 上市發行人已收取其在是次股份發行或庫存股份出售或轉讓應得的全部款項； (viii) 有關債券、借貸股份、票據或公司債券的信託契約/平邊契據經已製備及簽署，有關詳情已送呈公司註冊處處長存檔（如法律如此規定）。 呈交日期： 2025年12月15日 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 。 | | | | | | | | | | 第一章節 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 1. 股份分類 ...

Group 1 - The gaming stocks have experienced significant declines, with MGM China down 3.55% to HKD 15.74, Sands China down 3.67% to HKD 19.96, Wynn Macau down 1.6% to HKD 6.15, and Melco International Development down 1.52% to HKD 4.55 [1] - The Macau SAR government has projected that the gross gaming revenue for the next year will be estimated at MOP 236 billion, considering various favorable factors and external uncertainties [1] - Citigroup's research report indicates that Macau will continue to be a preferred tourist destination for wealthy travelers from mainland China, with a forecasted 6% year-on-year growth in gaming revenue and a 10% increase in industry EBITDA for the next year, maintaining an EBITDA margin of approximately 29% [1]

Core Viewpoint - The Macau gaming stocks have experienced significant declines, with major companies like MGM China, Sands China, Wynn Macau, and Melco International Development all reporting drops in their stock prices amid concerns over the gaming industry's future performance [1] Group 1: Stock Performance - MGM China shares fell by 3.55%, trading at HKD 15.74 [1] - Sands China shares decreased by 3.67%, trading at HKD 19.96 [1] - Wynn Macau shares dropped by 1.6%, trading at HKD 6.15 [1] - Melco International Development shares declined by 1.52%, trading at HKD 4.55 [1] Group 2: Government and Market Outlook - The Macau SAR government has projected that the gaming gross revenue for the next year will be MOP 236 billion, considering various favorable factors and external uncertainties [1] - Citigroup's research report indicates that Macau will continue to be a preferred travel destination for affluent mainland tourists, supported by rich concert activities, luxurious new hotel offerings, and new baccarat side bet options [1] Group 3: Revenue Projections - Citigroup forecasts a 6% year-on-year growth in Macau's gaming revenue for the upcoming year [1] - The industry EBITDA is expected to grow by 10% year-on-year, with an EBITDA margin remaining stable at approximately 29% [1]

Core Insights - A technological revolution in human-robot collaboration is taking place in China's manufacturing sector, with humanoid and collaborative robots becoming integral to production lines, enhancing flexibility and operational efficiency [1][2] - The year 2025 is anticipated to be a pivotal year for humanoid robot mass production and industry acceleration, with robots increasingly visible in various public and industrial settings [1] - Major robot companies are transitioning from experimental phases to commercial applications, with significant order volumes indicating a robust market demand [2][6] Industry Developments - Companies like Ubiquity have secured over 1.3 billion yuan in humanoid robot orders, including a record 264 million yuan contract, marking a significant milestone in the commercialization of humanoid robots [2][7] - The global humanoid robot market is projected to reach 6.339 billion yuan this year, with sales expected to exceed 12,400 units, while the overall robot market could surpass 400 billion USD by 2029 [2][6] - The industry is witnessing a surge in orders, with major players like Ubiquity and Xinjian Robotics leading the charge, indicating a trend towards large-scale production and application across various sectors [6][7] Capital Investment Trends - The investment landscape for humanoid robots is heating up, with significant funding rounds and a shift towards companies demonstrating real commercial viability and production capabilities [9][10] - Notable investments include a nearly 1 billion yuan A+ round for Star Motion, reflecting the growing interest in the sector from top-tier investors [9][10] - The first half of 2025 saw 144 financing events in the humanoid robot industry, totaling 19.5 billion yuan, indicating a strong upward trend in capital inflow [12] Technological Advancements - The evolution of humanoid robots is characterized by a transition from isolated technological breakthroughs to a more integrated and mature system, enhancing their functionality in real-world applications [13][14] - Companies are focusing on reducing barriers to entry for developers, enabling broader participation in technology development and accelerating innovation [14] - The ultimate goal of these technological advancements is to address real-world problems, with feedback from practical applications serving as a critical measure of success [15] Market Expansion - The B2B sector is currently favored for its clear demand and application pathways, while the B2C market is gradually evolving with the introduction of affordable consumer-grade robots [16][17] - The launch of consumer-grade robots priced around 10,000 yuan is expected to broaden market access and application scenarios, moving beyond traditional industrial uses [16][17] - The synergy between B2B and B2C developments is driving the transition of robots from specialized tools to everyday partners in various aspects of life [17]