Core Viewpoint - MGM China Holdings Limited (02282) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1: Share Buyback Details - The company will repurchase 101,300 shares at a total cost of HKD 1.7057 million [1] - The buyback price per share ranges from HKD 16.65 to HKD 16.83 [1]

Group 1 - MGM China announced a share buyback on December 2, spending HKD 1.706 million to repurchase 100,000 shares [1] - The buyback price ranged from HKD 16.65 to HKD 16.83 per share [1]

Core Viewpoint - MGM China Holdings Limited announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1: Share Buyback Details - The company plans to repurchase 101,300 shares at a total cost of HKD 1.7057 million [1] - The buyback price per share is set between HKD 16.65 and HKD 16.83 [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) 呈交日期： 2025年12月2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 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 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) | 02282 | 說明 | 普通股 | | | | | | | 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 | | | 庫存股份變動 | | | ...

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: 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) II. 已發行股份及/或庫存股份變動 | 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) | 02282 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 3,801,514,301 | | 0 | | 3,801,514,301 | | 增加 / 減少 (-) | | | -1,083,050 | | | | | | 本月底結存 | | | 3,800,431,251 | | 0 | | 3,800,431,251 | 第 2 頁 共 10 頁 v 1.1.1 呈交日期: 20 ...

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]

Group 1 - The core viewpoint of the article is that Macau's gaming revenue in November reached 21.1 billion MOP, a year-on-year increase of 14%, surpassing market expectations of a 10.5% increase [1] - Morgan Stanley predicts that Macau's gaming revenue will grow by 22% in December, indicating a year-on-year growth of 17% and a quarter-on-quarter growth of 8% for the fourth quarter [1] - The growth momentum has accelerated compared to previous quarters, with the second quarter showing an 8% year-on-year increase and the third quarter showing a 12.5% increase [1] Group 2 - Since May, Macau gaming stocks have experienced significant upward movement due to positive earnings forecast revisions and valuation recovery [1] - Morgan Stanley has upgraded its rating on MGM China (02282) to "overweight," noting an increase in the company's market share in October, which is seen as beneficial for the entire sector [1]

Core Insights - Morgan Stanley reports that Macau's gaming revenue for November reached 21.1 billion MOP, a year-on-year increase of 14%, surpassing market expectations of 10.5% growth [1] - The firm forecasts a 22% growth in Macau's gaming revenue for December, indicating a 17% year-on-year increase and an 8% quarter-on-quarter increase for Q4 overall [1] - Compared to previous quarters, Q2 saw a year-on-year growth of 8% and Q3 a growth of 12.5%, highlighting a significant acceleration in growth momentum [1] Industry Analysis - Since May, Macau gaming stocks have experienced substantial upward movement due to positive earnings forecast revisions and valuation recovery [1] - The report suggests a high likelihood of upward adjustments in future earnings forecasts for gaming stocks [1] Company Insights - Morgan Stanley has upgraded its rating for MGM China (02282) to "overweight," noting an increase in the company's market share in October [1] - The firm believes that MGM China's growth will positively impact the entire sector [1]

Core Viewpoint - UBS reports that Macau's total gaming revenue in November reached approximately 21.1 billion MOP, representing a year-on-year increase of about 14%, but a month-on-month decline of approximately 12% [1] Group 1: Revenue Performance - November's average daily gaming revenue was approximately 703 million MOP, showing a month-on-month decrease of about 10%, yet exceeding market expectations of around 679 million MOP [1] - The last week of November saw an estimated average daily gaming revenue of about 784 million MOP, higher than the first 23 days of November, which was approximately 678 million MOP [1] Group 2: Market Predictions - The market currently forecasts that Macau's average daily gaming revenue in December will be around 675 million MOP, reflecting a year-on-year increase of about 15% but a month-on-month decline of approximately 4% [1] - UBS believes there is still room for upward adjustments in market forecasts, noting that historical data from 2015 to 2019 indicated an average month-on-month increase of about 1% during the same period [1] Group 3: Preferred Stocks - UBS's top stock picks include Galaxy Entertainment (00027), Wynn Macau (01128), and MGM China (02282), all rated as "Buy" [1]

Core Viewpoint - Morgan Stanley's report indicates that Macau's gaming revenue for November reached 21.1 billion MOP, representing a year-on-year increase of 14%, surpassing market expectations of a 10.5% rise [1] Group 1: Revenue Growth - The forecast for Macau's gaming revenue in December is projected to grow by 22%, suggesting a year-on-year increase of 17% and a quarter-on-quarter increase of 8% for Q4 overall [1] - In comparison, the year-on-year growth rates for Q2 and Q3 were 8% and 12.5% respectively, indicating a significant acceleration in growth momentum [1] Group 2: Stock Performance - Since May, Macau gaming stocks have experienced substantial upward movement due to positive earnings forecast revisions and valuation recovery [1] - Morgan Stanley has upgraded its rating on MGM China to "Overweight," noting an increase in market share in October, which is expected to benefit the entire sector [1]