Core Viewpoint - The company Gelonghui announced the resignation of Li Xiaoyang as co-secretary and authorized representative under the Hong Kong Stock Exchange Listing Rules, effective November 17, 2025 [1] Group 1 - Li Xiaoyang has proposed to resign from his positions as (i) co-secretary of the company and (ii) authorized representative under the Hong Kong Stock Exchange Listing Rules [1] - Following Li Xiaoyang's resignation, Huang Yating has been appointed as co-secretary and authorized representative, effective November 17, 2025 [1]

Group 1 - The company, Kewang Technology (02543), announced the resignation of Mr. Li Xiaoyang as the co-secretary and authorized representative [1] - Ms. Huang Yating has been appointed as the co-secretary and authorized representative, effective from November 17, 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，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 DAHON TECH (SHENZHEN) CO., LTD. 大 行 科 工（ 深 圳 ）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：2543） (1)更換聯席公司秘書及授權代表；及 (2)豁免嚴格遵守上市規則第3.28及8.17條 更換聯席公司秘書及授權代表 大行科工（深圳）股份有限公司（「本公司」，連同其附屬公司，統稱「本集團」）董事 （「董事」）會（「董事會」）謹此宣佈，李曉陽先生（「李先生」）已提出辭任(i)本公司聯席 公司秘書（「聯席公司秘書」）；及(ii)香港聯合交易所有限公司（「聯交所」）證券上市規 則（「上市規則」）第3.05條項下之本公司授權代表（「授權代表」），自2025年11月17日 起生效。 李先生確認，彼與董事會並無意見分歧，亦無任何有關彼辭任之事宜須提請聯交所 或本公司股東垂注。 董事會進一步宣佈，繼李先生辭任後，黃雅婷女士（「黃女士」）已 ...

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: 大行科工（深圳）股份有限公司（「本公司」） 呈交日期: 2025年11月3日 備註： FF301 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02543 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 7,920,000 | RMB | | | 1 RMB | | 7,920,000 | | 增加 / 減少 (-) | | | 1,121,000 | | | | RMB | | 1,121,000 | | 本月底結存 | | | 9,041,000 | RMB | | | 1 RM ...

Summary of Conference Call for Daxing Technology Company Overview - **Company**: Daxing Technology - **Industry**: Folding Bicycles and Electric Bicycles Key Points Industry and Market Expansion - Daxing has actively expanded its offline store network, adding approximately 100 new stores, bringing the total to over 820, with 60% located in new second-tier and third-fourth tier cities to meet the demand for folding bicycles in lower-tier markets [2][3][5] - Online sales have increased to 30% of total sales, up from 15% last year, indicating a significant shift towards e-commerce [3][5] Product Development and Launches - Daxing's joint venture with Dajin Technology has begun mass production at its Tianjin factory, focusing on mid to low-end products, which have a gross margin advantage of 10-12 percentage points in northern markets [2][4] - The P8 model continues to show strong growth, while the new P10 model targets the mid-range market, priced 500 RMB higher than P8, with a higher gross margin due to its aluminum alloy construction [2][8] - A new three-fold bicycle is set to launch by the end of 2025 or early 2026, aimed at the leisure cycling demographic, with a price range of 5,000-7,000 RMB, expected to enhance overall gross margins [2][11] Financial Performance and Projections - In the first half of 2025, Daxing reported approximately 50% growth in both revenue and net profit, with expectations for continued strong performance in the third quarter [3][5] - Revenue growth is projected to exceed 50% for both 2025 and 2026, with net profit margins expected to improve by about one percentage point due to demand growth and high-margin product adjustments [5][17] - The company anticipates a 45% growth in domestic offline channels and a 70% growth in online channels for 2025, with overseas revenue expected to reach 70-80 million RMB [5][12] Competitive Advantages - Daxing's folding bicycles are positioned against competitors like Decathlon, with a focus on high-quality and innovative designs that enhance the riding experience [14][16] - The company has established a strong brand reputation and technical advantages, making it a preferred choice among cycling enthusiasts [16][29] Future Strategies - Daxing plans to continue expanding its offline store network and strengthen its online presence, with a focus on producing cost-effective low-end products at the Tianjin factory [9][20] - The company aims to reduce reliance on outsourcing, which currently incurs higher costs, to improve gross margins and net profits [18][19] International Market Outlook - By 2026, Daxing expects its overseas market share to reach around 15%, with significant growth potential in the US and European markets [20][21] - The company has seen a 50% growth in its overseas business in the first half of 2025, with expectations for a 200%-300% increase by year-end [21] Store Development and Investment - Daxing has seen a structural change in its store network, with a significant number of flagship stores contributing to higher revenue per store [22][23] - The investment required to open a Daxing store is approximately 300,000-400,000 RMB, with a payback period of about one year based on sales performance [25][27] Conclusion - Daxing Technology is positioned for robust growth in the folding bicycle market, leveraging its product innovation, strong brand reputation, and strategic expansion plans to capture increasing market demand and enhance profitability [28][29]

Group 1 - The stock of Da Hang Ke Gong (02543) rebounded over 10%, reaching a high of 50.8 HKD, recovering from the previous drop below the IPO price of 49.5 HKD [1] - As of the report, the stock was up 8.75%, trading at 50.2 HKD with a transaction volume of 11.23 million HKD [1] - On October 4, Da Hang Ke Gong announced that the exclusive overall coordinator partially exercised the over-allotment option, involving a total of 1.121 million shares, approximately 14.15% of the total offering, at a price of 49.5 HKD per share, generating a net additional income of 52.8 million HKD [1] Group 2 - Cathay Haitong released a research report stating that Da Hang Ke Gong specializes in the research, production, and sales of folding bicycles and related accessories, with bicycle revenue dominating at 98.1% [1] - The company's gross profit margin remains stable at over 30% [1] - The report highlights that Da Hang Ke Gong operates in a high-growth segment of the folding bicycle market, and due to its comprehensive product matrix and channel expansion, it has been given a "buy" rating with a target price of 76.57 HKD [1]

Core Viewpoint - The stock of Da Hang Ke Gong (02543) rebounded over 10%, reaching a high of HKD 50.8, recovering from its previous drop below the IPO price of HKD 49.5, indicating positive market sentiment and investor confidence [1] Group 1: Stock Performance - As of the report, the stock increased by 8.75%, trading at HKD 50.2 with a transaction volume of HKD 11.23 million [1] - The stock's rebound follows the partial exercise of the over-allotment option by the sole global coordinator on October 4, involving a total of 1,121,000 shares, approximately 14.15% of the total offering [1] Group 2: Financial Insights - The additional net proceeds from the share issuance amounted to HKD 52.8 million [1] - The stabilization period for the global offering ended on October 4 [1] Group 3: Company Overview - Da Hang Ke Gong specializes in the research, production, and sales of folding bicycles and related accessories, with bicycle revenue dominating at 98.1% of total income [1] - The company maintains a stable gross margin of over 30% [1] Group 4: Market Position and Analyst Rating - According to Cathay Haitong's research report, Da Hang Ke Gong operates in a high-growth segment of the folding bicycle market, which is considered a prominent growth area within the two-wheeled transportation sector [1] - The company is recognized for its comprehensive product matrix and channel expansion, leading to an "Accumulate" rating with a target price of HKD 76.57 [1]

Core Viewpoint - The report from Guotai Haitong highlights the strong growth potential of the folding bicycle segment, recommending a "buy" rating for the company with a target price of HKD 76.57, projecting significant revenue and profit growth from 2025 to 2027 [1] Group 1: Financial Projections - The company is expected to achieve revenues of 6.76 billion, 8.86 billion, and 11.11 billion from 2025 to 2027, with corresponding net profits of 0.79 billion, 1.05 billion, and 1.32 billion, reflecting year-on-year growth rates of 50.7%, 32.9%, and 25.8% respectively [1] - Earnings per share (EPS) are projected to be 2.49, 3.31, and 4.16 for the years 2025, 2026, and 2027 [1] Group 2: Competitive Advantages - The company has a diversified channel layout, with offline distribution accounting for 68.2% of revenue in 2024, showing a year-on-year increase of 45.2%, while online direct sales are growing even faster, expected to reach 1.00 billion in 2024 with a 72.5% year-on-year growth [2] - The product matrix is comprehensive, covering five categories: urban commuting, outdoor exploration, fashion, high-performance racing, and practical utility, with price ranges from over 5000 yuan to under 2500 yuan [2] - The company boasts strong R&D capabilities, holding 135 domestic and international patents and participating in the formulation of the national bicycle safety standard [2]

Core Viewpoint - The report from Guotai Junan highlights the strong growth potential of the folding bicycle segment, positioning the company as a prominent player in the two-wheeled transportation market, with a target price of HKD 76.57 and an "Accumulate" rating [1] Group 1: Financial Projections - The company is projected to achieve revenues of 6.76 billion, 8.86 billion, and 11.11 billion for the years 2025, 2026, and 2027 respectively, with corresponding net profits of 0.79 billion, 1.05 billion, and 1.32 billion [1] - Year-on-year growth rates for net profit are forecasted at 50.7%, 32.9%, and 25.8% for the years 2025, 2026, and 2027 respectively [1] - Earnings per share (EPS) are expected to be 2.49, 3.31, and 4.16 for the years 2025, 2026, and 2027 respectively [1] Group 2: Competitive Advantages - The company has a diversified channel layout, with offline distribution accounting for 68.2% of revenue in 2024, showing a year-on-year increase of 45.2%, while online direct sales are growing even faster at 72.5% year-on-year, reaching 1.00 billion [2] - The product matrix is comprehensive, covering five categories: urban commuting, outdoor exploration, fashion, high-performance racing, and practical utility, with a price range that includes high-end (≥5000), mid-range (2500-5000), and budget (<2500) models [2] - The company leads in R&D capabilities, holding 135 domestic and international patents as of April 2025, and has been invited to participate in the formulation of the "National Bicycle Safety Standard" [2]

Summary of Key Points Core Viewpoint - As of October 14, a total of 75 stocks reached their 52-week highs, with notable performances from Lihua Securities Holdings (08350), Deutsche Bank Tianxia (02418), and Chuangsheng Holdings (02680) [1]. 52-Week Highs - Lihua Securities Holdings (08350) achieved a closing price of 0.325, with a peak of 0.390, marking a high rate of 34.48% - Deutsche Bank Tianxia (02418) closed at 8.120, reaching a maximum of 8.990, with a high rate of 24.86% - Chuangsheng Holdings (02680) closed at 12.100, peaking at 12.350, with a high rate of 23.50% - Other notable stocks include Century United Holdings (01959) with a high rate of 20.97% and Silicon Xin Group (08349) with 14.38% [1]. 52-Week Lows - Hengda Group Holdings (03616) recorded a closing price of 0.345, with a low of 0.300, reflecting a decline rate of -11.76% - China Technology Industry Group (08111) reached a low of 0.085, with a decline rate of -8.89% - Other significant declines include Golden Leaf International Group (08549) at -8.06% and Changfeng Pharmaceutical (02652) at -4.90% [3].