Group 1 - The core viewpoint of the article highlights that Guoen Technology (02768) has transferred shares from Morgan Stanley Hong Kong Securities to Huatai Hong Kong, with a market value of HKD 68.6328 million, accounting for 5.53% of the total shares [1] - Guoen Technology officially listed on the Hong Kong Stock Exchange on February 4, and was included in the Stock Connect on its first trading day [1] - The company specializes in chemical new materials and upstream and downstream products of gelatin and collagen, serving the chemical and health industries through research, production, and sales of industrial and commercial products [1] Group 2 - According to Frost & Sullivan, Guoen Technology is the second-largest organic polymer modified materials and organic polymer composite materials company in China by sales revenue, with a market share of 2.5% projected for 2024 [1]

Group 1 - The core viewpoint of the article highlights that Guo'en Technology (02768) has transferred shares from Morgan Stanley Hong Kong Securities to Huatai Hong Kong, with a market value of HKD 68.6328 million, representing 5.53% of the total shares [1] - Guo'en Technology officially listed on the Hong Kong Stock Exchange on February 4 and was included in the Stock Connect on its first trading day [1] - The company specializes in chemical new materials and upstream and downstream products of gelatin and collagen, serving both the chemical and health industries [1] Group 2 - According to Frost & Sullivan, Guo'en Technology is the second-largest organic polymer modified materials and organic polymer composite materials enterprise in China by sales revenue, with a market share of 2.5% projected for 2024 [1]

Core Insights - The report by CITIC Financial Holdings Wealth Committee Asset Management Studio highlights the stable development of China's asset management industry since the implementation of new regulations, with various financial institutions participating and competing effectively [1][3] Industry Overview - As of the end of 2025, the total scale of China's asset management industry is projected to reach 184.53 trillion yuan, representing a growth of approximately 13.1% compared to the previous year [1][3] - The industry encompasses multiple segments, including bank wealth management, public funds, insurance asset management, trusts, securities firms' asset management, and private equity funds [1][3] Segment Breakdown - The breakdown of the asset management industry by segment as of the end of 2025 is as follows: - Bank wealth management: 33.29 trillion yuan - Public funds: 37.71 trillion yuan - Private equity funds: 22.15 trillion yuan - Pension funds managed by fund companies: 6.85 trillion yuan - Private asset management by securities and futures institutions: 12.30 trillion yuan - Insurance fund utilization balance: 37.46 trillion yuan - Trust assets managed by trust companies: 32.43 trillion yuan [1][3] Product Trends - By the end of 2025, the number of existing bank wealth management products is expected to reach 46,300, reflecting a growth of 14.89% since the beginning of the year [2][4] - Fixed-income products dominate the investment types, with a significant share of the total scale; the structure of open-ended and closed-end products is relatively balanced [2][4] - Although the number of newly issued products by wealth management companies slightly decreased in the fourth quarter of 2025, the diversity of product types has increased, with joint-stock bank wealth management subsidiaries remaining the main issuers [2][4]

Summary of Key Points Core Viewpoint - The A-share IPO market is active with three companies approved for listing, while the Hong Kong IPO market continues to thrive, particularly in the innovative drug and high-end manufacturing sectors, with several key players making significant moves [2][6]. Group 1: A-share IPO Approvals - Three companies received approval for IPOs this week: Guangdong Huahui Intelligent Equipment Co., Ltd., Anhui Xinfeng New Energy Technology Co., Ltd., and Shandong Chunguang Technology Group Co., Ltd. [2][3][4]. - Huahui Intelligent focuses on high-end intelligent equipment and has seen rapid revenue growth, projecting over 4.2 billion yuan in revenue for 2024 and over 620 million yuan in net profit [3]. - Xinfeng Technology specializes in thermal management components for electric vehicles, with projected revenues of 6 billion yuan in 2024 and 13.81 billion yuan in 2025 [4][5]. - Chunguang Group leads in the production of soft magnetic ferrite powder, with revenues of 10.15 billion yuan in 2022 and a planned fundraising of 7.51 billion yuan for its IPO [5]. Group 2: Hong Kong IPO Market Activity - The Hong Kong IPO market welcomed five new listings, including four companies and one on the Sci-Tech Innovation Board, covering diverse sectors such as chemical new materials and cardiovascular medical devices [6][7]. - Guoen Technology debuted on the Hong Kong Stock Exchange, raising approximately 1 billion HKD, with plans for expansion in Thailand and domestic production [6]. - Beixin Life, the first medical device company listed on the Sci-Tech Innovation Board, saw its stock price surge by 183.33% on its first day, focusing on cardiovascular intervention devices [7]. - Leading companies in the PCB equipment sector, such as Dazhu CNC, raised significant funds for expansion into Southeast Asia, while Zhuozheng Medical and Muyuan Foods had mixed performances post-listing [8]. Group 3: Upcoming IPOs and Market Trends - The Hong Kong IPO market continues to be driven by hard technology, with companies like Danuo Pharmaceutical and Xian Dao Intelligent preparing for their listings, focusing on innovative drugs and lithium battery equipment [9][10]. - Danuo Pharmaceutical is set to raise funds for global clinical advancements, with its core product showing promising clinical data [9]. - Xian Dao Intelligent aims to raise 41.66 billion HKD, with a significant projected profit increase of 424% by 2025, expanding its services beyond lithium battery equipment [10]. - Wolong Nuclear Materials is also preparing for an IPO, focusing on new materials and global capacity expansion, with a fundraising target of up to 27.34 billion HKD [11].

Group 1 - The core viewpoint of the article highlights that Guoen Technology (02768) experienced a decline of over 5% on its second day of trading, closing at HKD 37.94 with a transaction volume of HKD 117 million [1] - Guoen Technology officially listed on the Hong Kong Stock Exchange on February 4 and was included in the Hong Kong Stock Connect on its first trading day [1] - The company specializes in chemical new materials and upstream and downstream products of gelatin and collagen, serving both the chemical and health industries [1] Group 2 - According to the prospectus, Guoen Technology is the second-largest organic polymer modified materials and organic polymer composite materials company in China by sales revenue, holding a market share of 2.5% as of 2024 [1]

Core Viewpoint - Guoen Technology (02768) experienced a decline of over 5% on its second day of trading, closing at HKD 37.94 with a transaction volume of HKD 117 million [1] Group 1: Company Overview - Guoen Technology officially listed on the Hong Kong Stock Exchange on February 4 and was included in the Stock Connect on its first trading day [1] - The company specializes in chemical new materials and upstream and downstream products of gelatin and collagen, serving both the chemical and health industries [1] - Guoen Technology is engaged in the research, development, production, and sales of products for industrial and commercial use [1] Group 2: Market Position - According to Frost & Sullivan, Guoen Technology is the second-largest organic polymer modified materials and organic polymer composite materials company in China by sales revenue, holding a market share of 2.5% as of 2024 [1]

Group 1 - The core viewpoint of the article highlights the successful listing of Qingdao Guoen Technology Co., Ltd. on the Hong Kong Stock Exchange, marking it as the first company in Shandong Province to achieve A+H dual listing in 2026 [2] - On its first trading day, Guoen Technology's stock surged by 37.06%, reaching a market capitalization of 14.864 billion HKD, indicating strong market performance [2] - The company specializes in chemical new materials and health sectors, focusing on upstream and downstream products such as gelatin and collagen, positioning itself as a key supplier in these industries [2] Group 2 - The successful listing of Guoen Technology contributes to the growth of the Qingdao Stock Exchange, with the total number of listed companies in Qingdao reaching 21 and IPO fundraising exceeding 13 billion CNY [3] - There are currently 6 companies awaiting approval for listing on the Hong Kong Stock Exchange and 2 companies have announced plans for A+H listings [3] - The municipal financial office plans to deepen cooperation with the Hong Kong Stock Exchange to support more companies in accessing global capital and enhancing the quality of the real economy [3]

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之內 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份內容而產生或因倚賴該等內容而引致之任 何 損 失 承 擔 任 何 責 任。 Qingdao Gon Technology Co., Ltd. 青島國恩科技股份有限公司 本 公 告 乃 由 青 島 國 恩 科 技 股 份 有 限 公 司（「本公司」）根 據 香 港 聯 合 交 易 所 有限公司證券上市規則第13.10B條 作 出。 茲 載 列 本 公 司 於 深 圳 證 券 交 易 所 網 站 發 佈 之《青 島 國 恩 科 技 股 份 有 限 公 司 關 於 控 股 股 東 及 一 致 行 動 人 權 益 變 動 的 提 示 性 公 告》，僅 供 參 閱。 承董事會命 青島國恩科技股份有限公司 董事長兼執行董事 王愛國先生 香 港，2026年2月4日 截 至 本 公 告 日 期，本 公 司 的 執 行 董 事 為 王 愛 國 先 生、李 宗 好 先 生、李 慧 穎 女 士 以 及 韓 博 先 生；及 本 公 司 ...

Qingdao Gon Technology Co., Ltd. 青島國恩科技股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） 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之內 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份內容而產生或因倚賴該等內容而引致之任 何 損 失 承 擔 任 何 責 任。 （股 份 代 號：2768） 海外監管公告 王愛國先生 香 港，2026年2月4日 截 至 本 公 告 日 期，本 公 司 的 執 行 董 事 為 王 愛 國 先 生、李 宗 好 先 生、李 慧 穎 女 士 以 及 韓 博 先 生；及 本 公 司 的 獨 立 非 執 行 董 事 為 王 亞 平 先 生、孫 建 強 先 生 以 及 項 婷 女 士。 青岛国恩科技股份有限公司 简式权益变动报告书 | 公司名称 | 青岛国恩科技股份有限公司 | | --- | --- | | 上市地点 | 股） 深圳证券交易所（A 股）、香港联合交易所有限公司（H | | 股票简称 | 国 ...

Core Viewpoint - Qingdao Guoen Technology Co., Ltd. (referred to as "Guoen Technology") has successfully listed on the Hong Kong Stock Exchange, raising a total of HKD 1.08 billion through the issuance of 30 million shares at an offering price of HKD 36 per share [1][3]. Group 1: Company Overview - Guoen Technology specializes in chemical new materials and upstream and downstream products such as gelatin and collagen, serving the chemical and health industries [4]. - The company has a diverse customer base, including manufacturers in the automotive, new energy, and home appliance sectors, as well as pharmaceutical manufacturers in the health sector [4]. - Guoen Technology has made several strategic acquisitions to enhance its vertical integration and expand its presence in the health industry, including the acquisition of Yiqing Bio and Dongbao Bio [4]. Group 2: Financial Performance - The company's revenue for 2022, 2023, and 2024 is projected to be RMB 134 billion, RMB 174.4 billion, and RMB 191.9 billion, respectively, with net profits of RMB 7.2 billion, RMB 5.4 billion, and RMB 7.2 billion during the same periods [5][6]. - For the first ten months of the 2025 fiscal year, Guoen Technology reported revenue of RMB 174.4 billion and a net profit of RMB 7.21 billion [7]. Group 3: Shareholder Structure - The controlling shareholders of Guoen Technology are Wang Aiguo and his wife, holding 56.6% of the shares [8]. - Wang Aiguo, the founder and chairman, holds 46.45% of the shares, while other significant shareholders include Qingdao Century Star Hao Investment Co., Ltd. and Xu Bo [15][16].