Group 1 - UBS increased its stake in Longpan Technology (02465) by purchasing 2.532 million shares at a price of HKD 15.4925 per share, totaling approximately HKD 39.227 million [1] - After the purchase, UBS's total shareholding in Longpan Technology reached 14.348 million shares, representing a holding percentage of 11.96% [1]

Core Viewpoint - Lithium battery stocks are experiencing a rebound, with significant price increases observed in several companies, driven by optimistic industry forecasts and demand growth [1] Group 1: Stock Performance - Ganfeng Lithium (01772) increased by 4.44%, reaching HKD 61.1 - Tianqi Lithium (09696) rose by 4.34%, reaching HKD 55.34 - Longpan Technology (02465) saw a 3.88% increase, reaching HKD 15 - Zhengli New Energy (03677) increased by 2.73%, reaching HKD 9.41 - CATL (03750) rose by 1.69%, reaching HKD 512.5 [1] Group 2: Industry Outlook - The 15th High-Performance Lithium Battery Conference is taking place in Shenzhen, with expectations of over threefold growth in China's lithium battery shipments from 2025 to 2035 [1] - GGII's latest analysis indicates that the period from 2027 (or 2028) to 2030 will be crucial for the large-scale construction of GWh-level solid-state lithium battery capacity [1] Group 3: Market Dynamics - CITIC Securities highlights that the ongoing strength in energy storage demand will lead to a price increase across the entire lithium battery supply chain, significantly improving the supply-demand fundamentals for lithium carbonate [1] - Static forecasts predict global lithium resource supply will reach 2.089 million tons and consumption will be 2.004 million tons in 2026, resulting in a surplus of only 85,000 tons, which is a reduction compared to 2025 [1] - Considering inventory adjustments, a structural shortage of lithium is expected in 2026, shifting the price driver from supply pressure to demand-driven increases [1]

Core Insights - The article highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies [1][2][3] Group 1: Companies with Increased Holdings - Giant Legend (06683) saw an increase of 3.51%, bringing its latest holding percentage to 17.25% [1] - China Duty Free Group (01880) experienced a 1.41% increase, with a current holding of 41.04% [1] - Haotian International Investment (01341) had a 1.23% increase, now holding 68.80% [1] - In the last five trading days, Haotian International Investment (01341) led with a 6.07% increase, followed by Giant Legend (06683) at 4.77% [2] Group 2: Companies with Decreased Holdings - Hang Seng China Enterprises (02828) faced the largest decrease of 6.93%, now at 0.57% [1] - Longpan Technology (02465) decreased by 5.35%, with a current holding of 34.19% [1] - The Yingfu Fund (02800) saw a reduction of 4.03%, now at 0.78% [1] - Over the last five trading days, Longpan Technology (02465) had the most significant drop at 13.07% [2] Group 3: Notable Trends - The article provides a detailed list of companies with the highest increases and decreases in holdings over different time frames, indicating market sentiment and potential investment opportunities [2][3] - Companies like Aijia Food (02648) and Shandong Molong (00568) also showed notable increases in their holding percentages, suggesting positive investor interest [2][3]

Core Viewpoint - The energy storage market has seen a significant surge in demand for lithium battery materials, leading to substantial price increases, making the lithium battery materials sector a standout performer in the A-share market [1] Group 1: Market Demand and Supply - Since the third quarter, the demand for lithium battery materials such as lithium hexafluorophosphate, lithium iron phosphate, and lithium carbonate has rapidly increased due to the explosion of the energy storage market [1] - A carbon lithium production company in Sichuan reported that even with full production capacity, they cannot meet customer demand, indicating a strong market demand [1] - The chairman of Ganfeng Lithium predicts that global lithium carbonate demand will reach 1.55 million tons in 2025, with a potential increase to 1.9 million tons by 2026, suggesting a tightening supply-demand balance [1] Group 2: Price Trends - The price of lithium carbonate may see upward pressure if demand growth exceeds 30% next year, potentially reaching 150,000 to 200,000 yuan per ton [1] - The downstream investment and operation segments of energy storage are expected to pass on excess profits to upstream materials, batteries, and integration sectors, indicating a potential for price increases across the lithium battery supply chain [2] Group 3: Industry Opportunities - CITIC Construction continues to favor materials, particularly lithium hexafluorophosphate, lithium iron phosphate, anode materials, separators, and battery segments, highlighting opportunities in these areas [3] - The upcoming peak production season is expected to lead to a supply-demand imbalance, driving prices higher [4] - Changes in pricing models are anticipated, which may further impact the market dynamics [5] Group 4: Related Companies - Key companies in the lithium battery materials sector include Ganfeng Lithium (01772), Tianqi Lithium (09696), and Zhongwei New Materials (02579) [6] - In the energy storage sector, notable companies include BYD (01211), Zhongxin Innovation (03931), and Ruipu Lanjun (00666) [6]

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。 Jiangsu Lopal Tech. Group Co., Ltd. 江蘇龍蟠科技集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2465） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 茲 載 列 江 蘇 龍 蟠 科 技 集 團 股 份 有 限 公 司（「本 公 司」）在 上 海 證 券 交 易 所 網 站(https://www.sse.com.cn/)刊發的《關於變更保薦機構後重新簽署募集資金監管協 議的公告》如下，僅供參閱。 承董事會命 江蘇龍蟠科技集團股份有限公司 董事長 石俊峰 中國‧南京 二零二五年十一月十七日 於本公告日期，董事會包括執行董事石俊峰先生、呂振亞先生、秦建先生、沈志勇 先生及張羿先生；非執行董事朱香蘭女士；及獨立非執行董事李慶文先生、葉新先 生、耿成軒女士以及康錦里先生。 证券代码：603906 证券简称：龙 ...

Core Insights - The article highlights the top and bottom AH share premium rates, indicating significant discrepancies in market valuations between H-shares and A-shares for various companies [1][2][3]. Group 1: Top AH Share Premium Rates - Northeast Electric (00042) leads with a premium rate of 815.25%, followed by Hongye Futures (03678) at 277.62% and Sinopec Oilfield Service (01033) at 276.83% [1][2]. - The premium rates for the top three companies indicate a strong market preference for their H-shares compared to A-shares [2]. Group 2: Bottom AH Share Premium Rates - Contemporary Amperex Technology (03750) has the lowest premium rate at -7.20%, with China Merchants Bank (03968) at -0.80% and Heng Rui Medicine (01276) at 4.11% [1][3]. - The negative premium for Contemporary Amperex Technology suggests a potential undervaluation of its H-shares relative to A-shares [3]. Group 3: Premium Deviation Values - Zhongwei New Materials (02579) has the highest deviation value at 77.12%, indicating a significant difference from its historical average premium rate [1][4]. - The lowest deviation values are seen in Northeast Electric (00042) at -22.71%, suggesting a consistent underperformance compared to its historical premium [1][5].

Group 1 - Longpan Technology (02465.HK) saw an increase of nearly 4%, with a current rise of 3.82%, trading at HKD 15.23 [1] - The trading volume reached HKD 220 million [1]

Core Viewpoint - Dragon Power Technology (02465) has seen a nearly 4% increase in stock price, attributed to the recovery of lithium prices and the growing demand for energy storage globally [1] Group 1: Market Trends - Lithium iron phosphate (LFP) prices have been recovering, with a rise of approximately 10% since October, driven by stabilizing lithium prices and proactive strategies from automotive manufacturers and battery producers [1] - As of November 13, the average price of LFP is around 36,900 CNY per ton, reflecting an increase of 3,300 CNY per ton since early October [1] Group 2: Company Developments - Dragon Power Technology has announced plans to enhance its operations in the new energy and new materials sectors, focusing on the development of LFP cathode materials and expanding overseas production capacity [1] - The company aims to strengthen its product promotion in the fields of new energy vehicles, energy storage, and data centers, particularly for its cooling liquid products [1] - In the third quarter, the company significantly reduced its losses and is implementing cost-cutting and efficiency-boosting strategies to improve its operational performance [1]

Core Viewpoint - The report highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies, which may signal investment trends and market sentiment. Group 1: Companies with Increased Holdings - Shandong Molong (00568) saw the largest increase in holdings, up by 3.46% to a total holding of 60.02% [1][2] - Juxing Legend (06683) experienced a 0.83% increase, bringing its holding to 13.74% [2] - GCL-Poly Energy (03800) had a 0.75% increase, resulting in a holding of 38.78% [2] - In the last five trading days, Haotian International Investment (01341) had the highest increase of 10.00%, reaching 67.57% [3] - Anjuke Food (02648) increased by 3.02% to 35.68% [3] - Tianyue Advanced (02631) rose by 2.52%, with a holding of 23.00% [3] Group 2: Companies with Decreased Holdings - Longpan Technology (02465) experienced the largest decrease, down by 1.62% to 39.54% [1][2] - Haotian International Investment (01341) also saw a decrease of 1.38%, now holding 67.57% [2] - Nanjing Panda Electronics (00553) decreased by 0.83%, resulting in a holding of 41.80% [2] - In the last five trading days, Zhongze Feng (01282) had the largest decrease of 7.47%, with a holding of 8.57% [3] - Longpan Technology (02465) again showed a significant decrease of 7.41% [3] - Chongqing Steel (01053) decreased by 2.85%, now at 26.13% [3] Group 3: Notable Trends - The report indicates a trend of increasing foreign investment in certain companies, particularly in the technology and food sectors, while others are experiencing a pullback [1][2][3] - The data suggests that investors are actively reallocating their portfolios based on recent performance and market conditions [1][2][3]

Core Viewpoint - Haige Communication plans to raise up to 800 million RMB through public listing to introduce strategic investors into its wholly-owned subsidiary, Tian Teng Industry, which will still remain a controlled subsidiary of the company after the investment [1][4]. Group 1: Investment and Financial Details - The investment will not exceed 800 million RMB, and the new investors will hold no more than 43.44% of Tian Teng Industry's equity after the capital increase [1]. - Tian Teng Industry was established in February 2022 with a registered capital of 900 million RMB and is the main body for the construction of Haige Communication's Tian Teng Information Industry Base [4]. - As of early September this year, the Tian Teng Information Industry Base project is progressing smoothly, with the main structure of three zones completed and operational areas for unmanned vehicles and drones already in use [4]. Group 2: Business Operations and Strategic Importance - The Tian Teng Information Industry Base is the first domestic base integrating "R&D, intelligent manufacturing, testing, and simulation training" across multiple domains, including land, air, and water [4]. - The overall expected completion date for the Tian Teng Information Industry Base is by the end of 2026 [4]. - Haige Communication's business covers four main areas: wireless communication, Beidou navigation, aerospace, and digital ecology, with a focus on innovation and mixed-ownership reform [6]. Group 3: Market Position and Future Plans - The company aims to enhance its core competitiveness and accelerate the construction of the industry base to seize market opportunities in the unmanned and low-altitude economy sectors [7]. - The Guangzhou Digital Technology Group, the controlling shareholder of Haige Communication, is actively participating in the construction of low-altitude economic infrastructure in Guangzhou [7].