Market Overview - The Hong Kong stock index opened higher but showed mixed performance, with the Hang Seng Index up 0.18% at 25,848.99 points, the Hang Seng Tech Index down 0.42% at 5,503.87 points, the National Enterprises Index up 0.11% at 8,949.28 points, and the Red Chip Index up 0.39% at 4,091.24 points [1] - Major tech stocks exhibited varied movements, with Alibaba up 0.68%, Tencent down 1.46%, JD.com up 0.98%, Xiaomi down 1.66%, NetEase up 0.19%, Meituan up 0.39%, Kuaishou down 3.6%, and Bilibili up 0.41% [1] - Wind power stocks led the gains, with Dongfang Electric rising over 5%, while gold stocks continued their upward trend, with Shandong Gold also up over 5% [1] - The lithium battery sector saw significant increases, with Ganfeng Lithium up over 4%, and building materials and cement stocks remained active, with Dongwu Cement reaching a historical high [1] - Mobile game stocks, Apple concept stocks, and new energy vehicle companies mostly declined [1] - Newly listed company Relax Health saw a first-day increase of over 145%, while Nobi Kan surged 338.75% in half a day [1] Corporate News - Vanke Enterprises (02202.HK) extended the grace period for the principal and interest payment of its fourth phase of medium-term notes (total principal of 2 billion yuan) to 30 trading days [2] - Cathay Pacific (00293.HK) reported 2.5304 million passengers in November, a year-on-year increase of 26% [3] - Shanhigh New Energy (01250.HK) signed an EPC contract with China Railway 17th Bureau for a total price of 405.5 million yuan [3] - China General Nuclear Power (01816.HK) announced that the commissioning of Units 1 and 2 in Huizhou has been adjusted to the first half and second half of 2026, respectively [3] - Lehua Entertainment (02306.HK) entered into a business cooperation framework agreement with Youku Information Technology [4] - Xinyang Global Holdings (00723.HK) signed a cooperation agreement with Guangxi Fenglin (601996.SH) to jointly develop the EU wood board and related product market [4] - Tabo (06110.HK) reported a high single-digit year-on-year decline in total sales for its retail and wholesale business in Q3 of the 2025/26 fiscal year [4] - Dipo Technology (01384.HK) entered into a strategic cooperation agreement with Muxi Co., aiming to deepen their strategic partnership in enterprise-level large model AI applications [4] - He Yu-B (02256.HK) received approval from China's NMPA for its CSF-1R inhibitor Beijiemai® [5] - Saint Noble Pharmaceuticals-B (02257.HK) completed Phase I trials for its experimental drug STP707 and formally submitted a clinical research report to the FDA [6] - Nanshan Aluminum International (02610.HK) increased its annual production capacity for alumina to 4 million tons [7] - Rungo Interactive (02422.HK) plans to sell 75% of its stake in Xi'an Tiantai Innovation Technology Co., Ltd. for 11.3 million yuan [8] - China Tianhua Chemical (00362.HK) received guidance from the Hong Kong Stock Exchange for resuming trading, but remains suspended [9] Institutional Insights - Huatai Securities noted that the market is still in a left-side layout phase, with the right-side turning point not yet clear. There is strong consensus on an early spring rally, but year-end supply and demand pressures create uncertainty for a "Santa rally." The first quarter may present a higher probability phase for investment [10] - CITIC Securities observed that after a unilateral rise in September, the Hong Kong stock market has experienced fluctuations since October due to repeated overseas macro expectations. Quality assets in the Hong Kong market have re-entered a high cost-performance zone, and with continued northbound capital inflow and improved profit expectations, the market is entering a significant year-end trading window [10] - China Galaxy suggested focusing on the technology sector as a long-term investment theme, which is expected to rebound after previous adjustments. The consumer sector is anticipated to receive substantial policy support, with current valuations at relatively low levels, indicating significant long-term upside potential [11]

Company News - Vanke Enterprise (02202.HK) has extended the grace period for the principal and interest payment of its fourth tranche of medium-term notes (total principal of 2 billion yuan) to 30 trading days [1] - Cathay Pacific Airways (00293) reported a passenger count of 2.5304 million in November, representing a year-on-year increase of 26% [1] - Shandong High New Energy (01250.HK) announced that its subsidiary Wuxiang Beiqing Smart Energy has signed an EPC contract with China Railway 17th Bureau, with a total contract value of 405.5 million yuan [1] - China General Nuclear Power (01816) reported that the commissioning of Units 1 and 2 in Huizhou has been adjusted, with expected operational dates moved to the first half and second half of 2026, respectively [1] Strategic Partnerships - Lehua Entertainment (02306.HK) has signed a business cooperation framework agreement with Youku Information Technology and Youku for 2026 [2] - Xinbao Global Holdings (00723.HK) has entered into a cooperation agreement with Guangxi Fenglin (601996.SH) to jointly develop the EU wood board and related product market [2] - Dipo Technology (01384.HK) has established a strategic cooperation agreement with Muxi Co., aiming to deepen collaboration in enterprise-level large model AI applications across key industries such as manufacturing, commercial circulation, transportation, and healthcare [2] Product Development - He Yu-B (02256.HK) announced that its CSF-1R inhibitor Beijiemai® has received approval from China's NMPA [3] - Saint Noble Pharmaceuticals-B (02257.HK) has completed Phase I trials for its investigational drug STP707 and has formally submitted the clinical research report to the FDA [4] - Nanshan Aluminum International (02610.HK) has increased its annual production capacity for alumina to 4 million tons [5] Share Buybacks - Tencent Holdings (00700.HK) repurchased 1.035 million shares at a cost of 636 million HKD, with repurchase prices ranging from 610.5 to 620 HKD [8] - Xiaomi Group-W (01810.HK) spent approximately 149 million HKD to repurchase 3.75 million shares, with prices between 37.61 and 42.50 HKD [9] - Giant Bio (02367.HK) repurchased approximately 14.43 million HKD worth of 400,000 shares, with prices between 34.71 and 36.34 HKD [10]

Core Viewpoint - Runge Interactive (02422) announced the sale of equity stakes in Xi'an Tiantai Innovation Technology Co., Ltd. to Xi'an Yunce Zhichain and Shanghai Zhihuihui for a total consideration of 8.3 million and 3 million respectively, aimed at risk control and resource optimization [1] Group 1 - The company plans to sell a 55% stake for 8.3 million and a 20% stake for 3 million [1] - The target company specializes in providing software systems and equipment solutions related to lottery [1] - The main assets of the target company include contract assets and bank balances and cash [1] Group 2 - The proposed sale is part of the company's strategy to prudently manage related risks [1] - The transaction is expected to optimize resource allocation within the group [1]

本文源自：金融界AI电报 润歌互动(02422.HK)公布，于2025年12月22日，该公司间接全资附属公司润歌投资拟向西安云策智链 (作为买方一)、上海致辉汇(作为买方二)分别出售西安天泰创新科技有限公司55%股权、20%股权，代价 分别为830万元、300万元。 ...

Group 1 - The company, Runge Interactive (02422), announced the sale of 55% and 20% stakes in Xi'an Tiantai Innovation Technology Co., Ltd. to Xi'an Yunce Zhichain and Shanghai Zhihuihui for 8.3 million and 3 million respectively [1] - The target company primarily engages in providing lottery-related software systems and equipment solutions [1] - The proposed sale aims to help the group prudently control related risks and optimize resource allocation [1]

Core Viewpoint - Runge Interactive (02422.HK) announced a conditional agreement for the sale of 75% equity in its subsidiary, Xi'an Tiantai Innovation Technology Co., Ltd., to Xi'an Yunce Zhichain Enterprise Management Co., Ltd. and Shanghai Zhihuihui Information Consulting Studio for a total consideration of RMB 11.3 million [1] Group 1 - The transaction is set to be completed by December 22, 2025, after which the company will retain a 25% indirect stake in the target company [1] - The target company, established on June 13, 2007, primarily provides software systems and equipment solutions related to the lottery [1] - As of the announcement date, the main assets of the target company include contract assets and bank balances and cash, with no other significant assets disclosed [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。 Rego Interactive Co., Ltd （潤歌互動有限公司） （於開曼群島註冊成立的有限公司） （股份代號：2422） 須予披露交易 出售目標公司股權 出售事項 董 事 會 宣 佈，於 二 零 二 五 年 十 二 月 二 十 二 日（於 交 易 時 段 後），賣 方（為 本 公 司 的 間 接 全 資 附 屬 公 司）與 買 方（獨 立 第 三 方）訂 立 股 權 轉 讓 協 議，據 此，買 方 有 條 件 同 意 收 購，而 賣 方 有 條 件 同 意 出 售 目 標 公 司 之75%股 權，總 代 價 為 人民幣11.3百 萬 元。本 次 交 易 完 成 後，本 集 團 將 繼 續 間 接 持 有 目 標 公 司25% 股 權。目 標 公 司 將 不 再 是 本 公 司 附 屬 公 司。 上市規則涵義 由 於 有 關 股 權 轉 讓 ...

致：香港交易及結算所有限公司 公司名稱: 潤歌互動有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 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 | 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) | 02422 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.001 USD | | | 2,000,000 | | 增加 / 減少 (-) | | | | | | USD | | | | | 本月底結存 | | | 2,000,000,000 | USD | | 0.001 USD | | | 2,000,000 | 截至月份: 2025年11 ...

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。 Rego Interactive Co., Ltd （潤歌互動有限公司） （於開曼群島註冊成立的有限公司） （股份代號：2422） 更改供股所得款項用途 茲 提 述 本 公 司 日 期 為 二 零 二 三 年 十 一 月 二 十 日 的 供 股 章 程（「供股章程」），內 容 有關建議按於記錄日期每持有兩(2)股股份獲配發一(1)股供股股份的基準按非 包 銷 基 準 進 行 供 股（「供 股」）。除 文 義 另 有 指 明 外，本 公 告 所 用 之 詞 彙 與 供 股 章 程 所 界 定 者 具 有 相 同 涵 義。 董 事 會 謹 此 提 供 有 關 建 議 更 改 供 股 所 得 款 項 用 途 的 最 新 資 料，更 改 方 式 載 列 如 下。 供股的所得款項用途 誠 如 供 股 章 程 所 披 露，供 股 的 所 得 款 項 淨 額 約 ...

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10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 潤歌互動有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年11月3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) | 02422 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.001 USD | | 2,000,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 2,000,000,000 | USD | | 0.001 USD | | 2,000,000 | II. 已 ...