Core Insights - DAHON, the largest manufacturer of folding bicycles globally, has successfully launched its subsidiary DAHON Tech on the Hong Kong Stock Exchange, achieving a subscription rate of 7,558, marking it as the most oversubscribed listing in Hong Kong history [1] - The successful IPO will provide DAHON with increased capital to further its mission in green mobility innovations, including a strategic alliance with Golden Wheel Group to establish Dagold Technology in Tianjin, China [1] Company Growth Strategy - DAHON aims to optimize stakeholder value through three main growth trajectories: 1. Establishing a global elite team by engaging top international consulting firms to enhance brand presence and digital marketing strategies [3] 2. Improving technology and R&D culture by strengthening partnerships with universities to develop high-level professionals in bicycle manufacturing [3] 3. Expanding the DELTECH technology ecosystem, which significantly enhances bicycle frame rigidity, providing a competitive edge in speed and performance [3] Market Position and Performance - DAHON ranked first in global sales of folding bicycles in 2024 and holds the largest number of folding bicycle patents in China, demonstrating its market leadership [3] - The company has shown resilience with strong performance even in challenging markets, indicating robust operational capabilities [3] - The successful listing in Hong Kong was supported by a solid roster of leading investors and substantial cash flow, confirming the company's capital strength [3]

Summary of Key Points Core Viewpoint - As of November 21, 14 stocks reached their 52-week highs, with Hengfa Optical (01134), Chaowei Holdings (08059), and Cassava Resources (00841) leading the gains at 42.11%, 30.56%, and 22.49% respectively [1]. 52-Week Highs - Hengfa Optical (01134) closed at 0.375, with a peak price of 0.540, marking a 42.11% increase [1]. - Chaowei Holdings (08059) closed at 0.030, reaching a high of 0.047, reflecting a 30.56% rise [1]. - Cassava Resources (00841) closed at 0.200, with a maximum price of 0.207, indicating a 22.49% increase [1]. - Other notable stocks include Sibor Systems (08319) at 15.04%, MOS HOUSE (01653) at 11.46%, and Tianjin Jianfa (02515) at 5.19% [1]. 52-Week Lows - China Pengfei Group (03348) reached a low of 1.100, down 20.09% from its peak [1]. - China Information Technology (08178) closed at 0.285, reflecting a 19.35% decrease [1]. - XL Ernan Strategy - U (09799) saw a decline of 14.27% [1]. - Other significant declines include Hesai - W (02525) at -10.54% and MBC Bitcoin - U (03425) at -9.09% [1]. Additional Notable Stocks - Stocks like MBC Bitcoin (03430) and Tongyuan Kang Pharmaceutical - B (02410) also experienced declines of 6.64% and 6.62% respectively [2]. - The overall trend indicates a mix of significant gains in certain stocks while others are facing substantial losses, reflecting a volatile market environment [1][2].

Group 1 - The company, 大行科工 (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]

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]