Core Insights - The article discusses the significant restructuring of the semiconductor industry in the United States over the past three years, driven by initiatives like the CHIPS Act and state-level competition to attract wafer fabs and R&D centers [2][11]. Group 1: California Semiconductor Ecosystem - California is home to the largest integrated cluster of design, software, IP, and equipment, primarily located in the San Jose-Santa Clara-San Diego corridor, which focuses on GPU, AI, mobile communications, and server SoCs [5][9]. - Major companies in California include NVIDIA, AMD, Broadcom, Qualcomm, and many others, making it a vital hub for chip innovation [9]. - California also leads in semiconductor equipment and materials, with companies like ASML, Lam Research, and Applied Materials contributing to a comprehensive advanced manufacturing ecosystem [10]. Group 2: Arizona as a New Wafer Manufacturing Center - Arizona has become a focal point for wafer manufacturing, with TSMC and Intel establishing significant operations, supported by favorable environmental policies and infrastructure [11][13]. - The state boasts a complete semiconductor ecosystem, including advanced processes, OSAT capabilities, and a robust materials supply chain [14]. - Arizona is positioned to become a major player in U.S. wafer manufacturing, akin to Taiwan's Hsinchu Science Park, aiming to mitigate geopolitical risks in global supply chains [14]. Group 3: Texas as a Center for IDM and Automotive Electronics - Texas is recognized as the largest center for Integrated Device Manufacturers (IDM), microcontroller units (MCU), and automotive electronics in the U.S. [15]. - Key players include Texas Instruments, Samsung, and NXP, with a strong focus on automotive and power semiconductor applications [17]. - The state is evolving into a new growth hub for semiconductors, driven by the convergence of automotive, power, and AI technologies [18]. Group 4: Northeast Research Corridor - The Northeast region, encompassing New York, Massachusetts, and New Jersey, is a leading area for semiconductor research, hosting prestigious institutions like MIT and Harvard [19][20]. - Companies such as IBM and GlobalFoundries are pivotal in advancing semiconductor technology and manufacturing capabilities in this corridor [20]. - The region's ecosystem is further strengthened by a network of universities and research institutions, fostering innovation in materials, EDA, and photonics [24][27].

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: 中國上城集團有限公司 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) | 02330 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 30,000,000,000 | HKD | | 0.01 HKD | | 300,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 30,000,000,000 | HKD | | 0.01 HKD | | 300,000,000 | 第 1 頁 共 10 頁 v 1.1.1 F ...

10月28日，中国上城发布公告，配售协议所载的所有条件已获达成，而配售事项已于2025年10月28日完 成。合共7547.43万股配售股份已成功由配售代理根据配售协议的条款及条件按每股配售股份0.180港元 的配售价配售予叁位承配人，陈晖先生为一位投资者;刘晓玲女士为一位投资者;及李艳勇先生为一位投 资者，占公司紧接配售事项后经配发及发行配售股份扩大的公司已发行股本约16.67%。 来源：智通财经网 香港联交所最新资料显示，12月2日，中国上城(02330)股东将股票由中国银河证券香港转入中国银行(香 港)，转仓市值406.81万港元，占比6.28%。 ...

Core Viewpoint - The recent transfer of shares for China Shangcheng (02330) indicates a strategic shift in shareholder structure, with significant implications for the company's market positioning and investor confidence [1] Group 1: Shareholder Activity - On December 2, China Shangcheng's shares were transferred from China Galaxy Securities Hong Kong to Bank of China (Hong Kong), with a market value of HKD 4.0681 million, representing 6.28% of the total shares [1] - The transfer reflects a notable change in the company's shareholder base, which may influence future investment strategies and market perception [1] Group 2: Placement Agreement - On October 28, China Shangcheng announced that all conditions of the placement agreement had been met, and the placement was completed on the same date in 2025 [1] - A total of 75.4743 million shares were successfully placed at a price of HKD 0.180 per share to three investors, which included Mr. Chen Hui, Ms. Liu Xiaoling, and Mr. Li Yanyong [1] - Following the placement, the newly issued shares accounted for approximately 16.67% of the company's expanded issued share capital [1]

香港联交所最新资料显示，12月1日，中国上城(02330)股东将股票由粤商国际证券转入香港上海汇丰银 行，转仓市值610.69万港元，占比8.48%。 10月28日，中国上城发布公告，配售协议所载的所有条件已获达成，而配售事项已于2025年10月28日完 成。合共7547.43万股配售股份已成功由配售代理根据配售协议的条款及条件按每股配售股份0.180港元 的配售价配售予叁位承配人，陈晖先生为一位投资者;刘晓玲女士为一位投资者;及李艳勇先生为一位投 资者，占公司紧接配售事项后经配发及发行配售股份扩大的公司已发行股本约16.67%。 ...

Group 1 - The core point of the article is that China Shangcheng (02330) has completed a share placement, with a total of 75.4743 million shares sold at a price of HKD 0.180 per share, representing approximately 16.67% of the company's enlarged issued share capital after the placement [1][1][1] - On December 1, shareholders transferred shares from Yue Shang International Securities to HSBC Hong Kong, with a transfer value of HKD 6.1069 million, accounting for 8.48% of the total shares [1][1][1] - The placement agreement conditions were fulfilled, and the placement was completed on October 28, 2025 [1][1][1]

Core Insights - On November 27, China Shangcheng (02330) shareholders transferred stocks from Construction Asia to China Galaxy Securities Hong Kong, with a market value of HKD 20.486 million, accounting for 9.05% of the total [1] Summary by Sections Shareholder Activity - Shareholders of China Shangcheng transferred stocks valued at HKD 20.486 million to China Galaxy Securities Hong Kong, representing 9.05% of the total [1] Placement Agreement - On October 28, China Shangcheng announced that all conditions of the placement agreement had been met, and the placement was completed on October 28, 2025 [1] - A total of 75.4743 million shares were successfully placed by the placement agent at a price of HKD 0.180 per share to three investors: Mr. Chen Hui, Ms. Liu Xiaoling, and Mr. Li Yanyong [1] - Following the placement, the newly issued shares accounted for approximately 16.67% of the company's expanded issued share capital [1]

Core Viewpoint - The recent stock transfer of China Shangcheng (02330) from Construction Asia to China Galaxy Securities (601881) indicates a significant shift in shareholder structure, with a market value of HKD 20.486 million, representing 9.05% of the company [1] Group 1: Stock Transfer - On November 27, China Shangcheng's shares were transferred from Construction Asia to China Galaxy Securities, with a total market value of HKD 20.486 million [1] - The transfer represents 9.05% of the company's total shares [1] Group 2: Placement Agreement - On October 28, China Shangcheng announced that all conditions of the placement agreement had been met, and the placement was completed on October 28, 2025 [1] - A total of 75.4743 million shares were successfully placed at a price of HKD 0.180 per share to three investors, including Mr. Chen Hui, Ms. Liu Xiaoling, and Mr. Li Yanyong [1] - Following the placement, the newly issued shares represent approximately 16.67% of the company's expanded issued share capital [1]

Core Viewpoint - China Shangcheng (02330) experienced a significant decline of 75% during intraday trading, dropping to a low of HKD 0.125, effectively erasing all gains made since early October. As of the report, the stock was down 51.2% at HKD 0.244, with a trading volume of HKD 32.43 million [1] Stock Movements - Recent stock transfer activities have been noted for China Shangcheng, with multiple significant transfers occurring. On October 28, shares worth HKD 18.49 million were deposited into Yuan Ku Securities, representing 16.67% of the total. On November 17, shares valued at HKD 17.49 million were transferred from Huiying Securities to Yue Shang International Securities, accounting for 7.43%. On November 21, shares worth HKD 17.88 million were moved from China Galaxy Securities Hong Kong to Hang Seng Securities, making up 7.45% [1][1][1] Placement Completion - The company announced that a placement of shares was completed on October 28, with a total of 75.47 million shares successfully placed at a price of HKD 0.180 per share to three subscribers. This placement represents approximately 16.67% of the company's issued share capital following the placement [1][1][1]

Core Viewpoint - China Shangcheng (02330) experienced a significant decline of 75% during intraday trading, dropping to a low of HKD 0.125, effectively erasing all gains made since early October. As of the report, the stock was down 51.2% at HKD 0.244, with a trading volume of HKD 32.43 million [1] Group 1: Stock Performance - The stock price of China Shangcheng fell sharply, reaching a low of HKD 0.125, marking a 75% decline [1] - The stock has returned all gains made since early October, indicating a significant loss of investor confidence [1] - As of the latest update, the stock was trading at HKD 0.244, reflecting a 51.2% decrease [1] Group 2: Shareholder Activity - Recent shareholder activities included multiple transfers of shares, with significant values being moved to different securities firms [1] - On October 28, shares worth HKD 18.49 million were deposited into Yuan Ku Securities, representing 16.67% of the total [1] - On November 17, shares valued at HKD 17.49 million were transferred from Huiying Securities to Yue Shang International Securities, accounting for 7.43% [1] - On November 21, shares worth HKD 17.88 million were moved from China Galaxy Securities Hong Kong to Hang Seng Securities, making up 7.45% [1] Group 3: Placement Completion - China Shangcheng announced the completion of a placement on October 28, with a total of 75.47 million shares successfully placed at a price of HKD 0.180 per share [1] - The placement accounted for approximately 16.67% of the company's enlarged issued share capital following the placement [1]