Market Overview - The Hong Kong stock market faced pressure, with the Hang Seng Index dropping over 1%, closing at 25,965.36 points, down 1.23% or 319.72 points, with a total turnover of HKD 206.23 billion [1] - The Hang Seng China Enterprises Index fell by 1.25% to 9,083.53 points, while the Hang Seng Tech Index remained flat at 5,662.55 points [1] Blue Chip Performance - Baidu Group-SW (09888) led blue-chip stocks, rising 3.45% to HKD 125.8, contributing 8.38 points to the Hang Seng Index [2] - Other notable performers included SMIC (00981) up 2.94% and China Ping An (02318) up 2.15%, while China Construction Bank (00939) fell 4.01%, dragging the index down by 54.39 points [2] Sector Highlights - Major technology stocks generally declined, with Alibaba down over 1% and Tencent down 0.82% [3] - Chinese brokerage stocks rose against the trend, with Huatai Securities (06886) up 5.17% and GF Securities (01776) up 3.1% [3][4] - The light communication sector saw significant gains, with Huiju Technology (01729) rising 7.65% [4] - Lithium stocks mostly increased, with Ganfeng Lithium (01772) up 6.95% and CATL (03750) up 3.28% [5] Regulatory Developments - The Chairman of the China Securities Regulatory Commission (CSRC) emphasized the need to accelerate the development of top-tier investment banks and institutions, indicating a potential easing of regulations for quality institutions [4] - The CSRC plans to optimize risk control indicators and open up capital space and leverage limits [4] New Drug Listings - The National Healthcare Security Administration announced the addition of 114 new drugs to the 2025 National Medical Insurance Drug List, with a success rate of 88%, significantly higher than the previous year's 76% [6] New Listings and Stock Movements - New listings included Zhuoyue Ruixin (02687), which surged 87.26% to HKD 126.4, while Naxin Micro (02676) fell 4.31% [7] - Restructured Energy (02570) saw a significant drop of 27.33% on its first trading day after the lock-up period ended [8] - Silver Pharma-B (02591) experienced a decline of 14.32% as it was adjusted into the Hong Kong Stock Connect [9] - Sutech (02498) performed well, rising 5.23% after securing a major contract with FAW Toyota [10]

Core Viewpoint - The stock of Excellence Ruixin (2687.HK) surged over 88% on its first day of trading, closing at 127 HKD, reflecting strong market interest in the company, which specializes in digital solutions for higher education [1]. Financial Performance - Revenue projections for Excellence Ruixin are 400 million CNY for 2022, 653 million CNY for 2023, and 848 million CNY for 2024 [1]. - Gross profit is expected to be 177 million CNY in 2022, 396 million CNY in 2023, and 525 million CNY in 2024, with corresponding gross margins of 44.1%, 60.7%, and 61.9% [1]. - Operating profit forecasts indicate losses of 79.39 million CNY in 2022, followed by profits of 87.09 million CNY in 2023 and 109 million CNY in 2024, with operating profit margins of -19.8%, 13.3%, and 12.8% respectively [1]. - The net profit attributable to owners is projected to be -59.11 million CNY in 2022, 81.42 million CNY in 2023, and 105 million CNY in 2024, with net profit margins of -14.8%, 12.5%, and 12.4% [1].

每经AI快讯，12月8日，港股新股卓越睿新尾盘涨幅扩大至85%，股价现报125港元，总市值超83亿港 元。 （文章来源：每日经济新闻） ...

Core Viewpoint -卓越睿新 (02687) has been listed today, experiencing a significant surge of over 80% in its stock price, closing at 123 HKD with a trading volume of 115 million HKD [1] Company Overview -卓越睿新 is a provider of digital solutions for higher education institutions, established in 2008 and launched its brand "Smart Tree" in 2013 [1] -According to Frost & Sullivan,卓越睿新 ranks second in the Chinese higher education digital teaching market by revenue, holding a market share of 4.0% as of 2024 [1] -The company ranks first in the digital teaching content production market within Chinese higher education, with a market share of 7.3% [1] Financial Performance -For the years 2022 to the first half of 2025, the company's revenues were 400 million, 653 million, 848 million, and 275 million HKD respectively [1] -The gross profit margins for the same periods were 44.1%, 60.7%, 61.9%, and 46.9% [1] -However, due to seasonal industry patterns, the company's net profit attributable to shareholders for the first half of this year was -98.96 million HKD [1]

Core Viewpoint -卓越睿新 (02687) has been listed today, experiencing a significant surge of over 80%, with a current price of 123 HKD and a trading volume of 115 million HKD [1] Group 1: Company Overview -卓越睿新 is a provider of digital solutions for higher education institutions, established in 2008 and launched the brand "Wisdom Tree" in 2013 [1] -According to Frost & Sullivan,卓越睿新 ranks second in the Chinese higher education digital teaching market by revenue, holding a market share of 4.0% as of 2024 [1] -The company ranks first in the digital teaching content production market within Chinese higher education, with a market share of 7.3% [1] Group 2: Financial Performance -From 2022 to the first half of 2025, the company's revenues were 400 million, 653 million, 848 million, and 275 million respectively [1] -The gross profit margins for the same period were 44.1%, 60.7%, 61.9%, and 46.9% respectively, indicating a relatively high level of profitability [1] -However, due to seasonal industry patterns, the company's net profit attributable to shareholders for the first half of this year was -98.96 million [1]

公开资料显示，卓越睿新本次全球发售666.67万股H股，发行价确定为每股67.50港元，公开发售超额认购达4813.4倍。招股书显示，卓越睿新是一家国内高 等教育教学数字化解决方案提供商，公司产品与服务覆盖教、学、练、考、评、管等环节。 2022年至2024年，卓越睿新收入为4亿元（人民币，下同）、6.53亿元、8.48亿元，对应净利润分别为-5911万元、8142万元、1.05亿元。2025年上半年，卓 越睿新收入为2.75亿元，净利润为-9895.6万元。 来源：上海证券报·中国证券网 上证报中国证券网讯（记者 唐燕飞）12月8日，卓越睿新登陆港交所主板，股价高开23.85%，盘中一度涨超32%。截至10时42分，卓越睿新涨24.67%，报 84.15港元/股，成交额超9000万港元，总市值约为56亿港元。 | | HK 卓越容新 | | | | --- | --- | --- | --- | | | 02687 L2 ▼ | | | | 84.150 >> | 83.600 最高 | 89.500 最低 | | | 换手 24.67% 16.650 | 1.67% 总量 103.7万股 金额 | | | ...

Group 1 - The core point of the article is the successful listing of卓越睿新 (02687) on the stock market, with shares priced at HKD 67.50 and a total issuance of 6.6667 million shares, raising approximately HKD 394 million in net proceeds [1] - As of the report, the stock has increased by 23.85%, trading at HKD 83.6 with a transaction volume of HKD 74.0574 million [1] -卓越睿新 is recognized as a leading provider of digital solutions for higher education institutions in China, focusing on digital educational content and teaching environments [1] Group 2 - According to Frost & Sullivan, the top five companies in the Chinese higher education digital market hold a combined market share of 12.9% as of 2024 [1] -卓越睿新 ranks second in revenue among all companies in the Chinese higher education digital teaching market with a market share of 4.0% for 2024 [1] - In the digital content production market for higher education in China, the company holds the first position with a market share of 7.3% [1]

Core Viewpoint -卓越睿新 (02687) has successfully listed its shares at a price of HKD 67.50, raising approximately HKD 394 million, with a notable initial increase of 23.85% to HKD 83.6 per share [1] Company Overview -卓越睿新 is a prominent provider of digital solutions for higher education institutions in China, focusing on digital educational content and teaching environments [1] - The company's services encompass all critical aspects of education, including teaching, learning, practice, assessment, and management [1] Market Position - According to Frost & Sullivan, the top five companies in the Chinese higher education digital market hold a combined market share of 12.9% as of 2024 [1] -卓越睿新 ranks second in revenue among all companies in the Chinese higher education digital teaching market, with a market share of 4.0% [1] - In the digital content production segment for higher education, the company holds the top position with a market share of 7.3% [1]

中介团队方面，ABCI担任本次全球发售的独家保荐人、独家整体协调人、独家全球协调人及独家账簿 管理人，农银国际、利弗莫尔证券、老虎证券为联席牵头经办人。卓越睿新H股预计于2025年12月8日 在香港联合交易所开始买卖，每手交易单位为100股。 点击查看公告原文>> 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 来源：新浪港股-好仓工作室 上海卓越睿新数码科技股份有限公司（股份简称：卓越睿新，股份代号：2687）公布全球发售结果，最 终发行价确定为每股67.50港元。本次全球发售共计6,666,700股H股，其中香港公开发售666,700股，国 际配售6,000,000股。按最终发行价计算，本次发行所得款项总额为4.5亿港元，扣除估计应付上市开支 ...

卓越睿新(02687)公布配发结果，公司全球发售666.67万股H股，香港公开发售占10%，国际发售占 90%。每股发售价67.5港元，全球发售净筹约3.94亿港元。每手100股H股，预期H股将于2025年12月8日 (星期一)上午九时正开始在联交所买卖。 其中，香港公开发售获4813.4倍认购，国际发售获2.33倍认购。 ...