Core Viewpoint - Nobikang (02635.HK) announced the end of its global offering stabilization period on January 17, 2026, which is 30 days after the deadline for submitting the Hong Kong public offering application [1] Group 1 - The final offer price and allocation results announcement date is December 22, 2025 [1] - There was no overallotment of H-shares in the international offering [1] - The stabilizing agent or any person acting on its behalf did not take any stabilizing actions during the stabilization period [1] Group 2 - The sponsor and overall coordinator, on behalf of the international underwriters, did not exercise the overallotment option [1] - The overallotment option will expire on January 17, 2026, and thus, the company has not issued or will not issue H-shares based on the overallotment option [1]

Core Viewpoint - The company announced the end of the global stabilization price period on January 17, 2026, which is 30 days after the deadline for submitting the Hong Kong public offering application [1] Group 1 - The final offer price and allocation results announcement is scheduled for December 22, 2025 [1] - There was no over-allotment of H-shares in the international offering [1] - The stabilizing agent or any person acting on its behalf did not take any stabilizing actions during the stabilization price period [1] Group 2 - The sponsor and overall coordinator did not exercise the over-allotment option, which will expire on January 17, 2026 [1] - As a result, the company did not issue or will not issue H-shares based on the over-allotment option [1]

Core Viewpoint - The company announced the end of the global stabilization price period on January 17, 2026, which is 30 days after the deadline for the Hong Kong public offering application [1] Group 1 - The final offer price and allocation results will be announced on December 22, 2025 [1] - There was no over-allotment of H-shares during the international offering [1] - The stabilizing agent or any person acting on its behalf did not take any stabilizing actions during the stabilization period [1] Group 2 - The sponsor and overall coordinator did not exercise the over-allotment option, which will expire on January 17, 2026 [1] - As a result, the company has not issued or will not issue H-shares based on the over-allotment option [1]

Nuobikan Artificial Intelligence Technology (Chengdu) Co., Ltd. 諾 比 侃 人 工 智 能 科 技（ 成 都 ）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：2635） 香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司對 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。 本公告不得直接或間接於或向美國（包括其領土及屬地、美國任何州以及哥倫比亞特區）發佈、 刊發、派發。本公告並不亦無意構成亦不屬於在美國境內或於任何其他司法權區購買或認購證 券的要約或招攬的一部分。發售股份並無亦不會根據1933年美國證券法（經不時修訂）（「美國證 券法」）或美國任何州或其他司法權區的證券法登記，且不會於美國境內提呈發售、出售、質押 或以其他方式轉讓，惟獲豁免遵守美國證券法或任何適用州立證券法登記規定或不受其規限的 交易則另作別論。發售股份不會於美國公開發售。發售股份僅可依據美國證券法S規例以及 ...

诺比侃(2635.HK)盘中一度涨近10%，最高触及474.4港元，续创历史新高。 本文源自：金融界AI电报 ...

Core Viewpoint - Nobikang (2635.HK) has seen a significant stock price increase, reaching a historical high of 474.4 HKD, with a cumulative rise of over 490% since its listing on December 23, 2022 [1] Company Overview - Nobikang was established in 2015 and focuses on applying advanced artificial intelligence and digital twin technologies in complex open scenarios, integrating deeply with practical applications [1] - The company's core product is a hardware-software integrated solution based on a full-stack AI industry model, applicable in various scenarios such as equipment monitoring, fault detection, and operational management [1] Market Position - By 2024, Nobikang is positioned as the second-largest provider of AI-powered power supply detection and monitoring systems in China within the rail transit sector [1] - In terms of revenue from rail transit, Nobikang ranks third among companies providing AI detection and monitoring solutions in the Chinese rail transit industry [1]

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12月31日 狀態: 新提交 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) | 02635 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 30,434,578 RMB | | | 1 RMB | | 30,434,578 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 30,434,578 RMB | | | 1 RMB | | 30,434,578 | | 2. 股份分類 | 普通股 | 股份類別 | | 其他類別 (請註明) | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | ...

Investment Rating - The report does not explicitly provide an investment rating for the industry or companies discussed. Core Insights - The technology industry experienced 196 financing events globally from December 22, 2025, to January 1, 2026, with 181 events in China and 15 abroad, highlighting significant investment activity in advanced manufacturing, artificial intelligence, and enterprise services [9]. - The semiconductor sector is witnessing advancements with the global release of high-purity P-type SiC substrates and the development of the first 12-inch high-quality silicon carbide epitaxial wafer, which are expected to enhance production efficiency and reduce costs in the semiconductor industry [33][38]. - The artificial intelligence sector is advancing with new technologies such as the TurboDiffusion framework for video generation, which can accelerate video creation by up to 200 times, and the introduction of the "Shan Hai" S30FP/S30P SPU IP, which provides comprehensive security solutions for high-performance computing chips [4][41]. Summary by Sections Financing Overview - A total of 196 financing events occurred in the technology sector during the specified period, with advanced manufacturing, artificial intelligence, and enterprise services leading the way in terms of the number of events [9]. IPO Updates - Several companies went public, including: - **InSilico Medicine** listed on the Hong Kong Stock Exchange, focusing on AI-driven drug discovery, significantly reducing the time for drug development from an average of 4.5 years to 12-18 months [11][12]. - **Tiansu Measurement** listed on the Shenzhen Stock Exchange, providing independent third-party measurement and testing services across various industries [15][16]. - **Nobikang** also listed on the Hong Kong Stock Exchange, specializing in AI solutions for railway and power companies [18][19]. Semiconductor Sector Developments - **SuperChip** launched a high-purity P-type SiC substrate, addressing critical impurities that have historically hindered the industry, thus enhancing the reliability of high-voltage IGBT devices [33][36]. - **Hantian Technology** developed the world's first 12-inch high-quality silicon carbide epitaxial wafer, which is expected to significantly improve production efficiency and lower costs in the semiconductor industry [38][40]. - **Arm Technology** introduced the "Shan Hai" S30FP/S30P SPU IP, enhancing security for high-performance computing applications [41][42]. AI and Quantum Technology Innovations - The report highlights advancements in AI, including a collaboration between Shenshu Technology and Tsinghua University to accelerate video generation, and IBM's new framework for large language model planning [4][41]. - In quantum technology, IonQ has established a significant presence in South Korea with its quantum computing capabilities, marking a strategic expansion in the global infrastructure [4][6].

Group 1 - In 2025, the Hong Kong stock market experienced a long-awaited "structural bull market," with major indices ranking among the best globally [1][4] - The Hang Seng Index recorded a total increase of 27.77% for the year, marking its best annual performance since 2017 [1][4] - The Hang Seng Tech Index rose by 23.45%, while the China Enterprises Index increased by 22.27% [1][4] Group 2 - A total of 117 new stocks were listed on the Hong Kong stock market by December 31, 2025, an increase of 47 compared to the previous year [1][4] - The total fundraising amount reached 285.693 billion HKD, surpassing the combined IPO fundraising amounts of 2023 (46.3 billion HKD) and 2024 (88.147 billion HKD), representing a year-on-year growth of 224.11% [1][4] - Notable first-day performances of new stocks included Nobikang with a rise of over 363%, Golden Leaf International Group at 330%, and Xipuni at 258.11%, ranking as the top three in first-day gains [1][4][5]

Group 1: Company Overview - Sichuan Yingaotong Camshaft Technology Co., Ltd. (Yingaotong) is a "hidden champion" in the manufacturing sector, focusing on camshafts and related components for motorcycles, automobiles, and general machinery, with products integrated into the supply chains of global brands like Honda, BMW, and Changan [2][4] - The company has achieved significant growth, with revenue exceeding 400 million yuan and a net profit of over 50 million yuan in 2024, driven by a 51.84% year-on-year increase in revenue from its new energy vehicle motor shaft business in the first half of 2025 [5] Group 2: Leadership and Strategy - The chairman, Wu Liangqian, is a seasoned veteran in the manufacturing industry, having over 50 years of experience and a strong family ownership structure, with the family holding 85% of the company's shares [4][5] - Wu took over the company in 1999 and has successfully diversified its operations from motorcycle components to core parts for general engines and automotive transmissions, demonstrating a keen business acumen [5] Group 3: Market Position and Future Plans - Yingaotong's attempt to enter the capital market is not new; the company previously initiated a listing process in June 2022 but terminated it in September 2024 due to strategic considerations [6] - The company is now preparing for a new listing attempt, indicating a commitment to further growth and expansion in the capital market [6] Group 4: Industry Context - Chengdu Maikang Biological Technology Co., Ltd. (Maikang Biological) is another company that recently completed listing counseling, focusing on innovative vaccines and adjuvants, highlighting the growing importance of biotechnology in the region [7][9] - The founder, Chen Dexiang, has a strong background in vaccine development, having worked with top international organizations, and aims to address the gap in China's innovative vaccine research, particularly in adjuvant technology [10][12]