Market Overview - The Hong Kong stock market experienced fluctuations and adjustments, with the Hang Seng Index down 0.92% to 25,737.85 points, the Hang Seng Tech Index down 1.79% to 5,537.11 points, the National Enterprises Index down 1.2% to 8,970.29 points, and the Red Chip Index down 0.3% to 4,137.97 points due to the significant drop in US stocks last Friday [1] - Major technology stocks saw declines, with Alibaba down 2.73%, Tencent Holdings down 1.54%, JD Group down 1.12%, Xiaomi down 2.28%, NetEase down 0.18%, Meituan down 1.07%, Kuaishou down 3.85%, and Bilibili down 1.12% [1] - Insurance stocks performed well, with China Ping An reaching a four-year high, while the biopharmaceutical sector weakened, with Baijiazhensheng down over 6% [1] - Semiconductor stocks faced significant declines, with Huahong Semiconductor down over 6% [1] Company News - China Merchants Energy (01138.HK) signed shipbuilding contracts with Dalian China Merchants Heavy Industry, Yangzhou China Merchants Heavy Industry, and Guangdong China Merchants Heavy Industry for the construction of one ethylene ship and eighteen oil tankers, with a total cost of RMB 7.882 billion [2] - ZhongAn Online (06060.HK) reported a cumulative original insurance premium income of approximately RMB 32.904 billion for the first eleven months [3] - R&F Properties (02777.HK) achieved total sales revenue of approximately RMB 12.7 billion in the first eleven months, representing a year-on-year increase of 24.63% [4] - Yida China (03639.HK) reported a contract sales amount of approximately RMB 681 million for the first eleven months, a year-on-year decrease of 23.22% [5] - Kason International (00496.HK) signed a steel structure procurement contract with suppliers, involving an investment of RMB 43.5366 million [5] Clinical and Regulatory Updates - Boke Vision Cloud-B (02592.HK) successfully held a meeting after the second phase of clinical trials for CBT-004 [6] - Fuhong Hanlin (02696.HK) received acceptance from the National Medical Products Administration for the listing registration application of Hanshuo® in combination with chemotherapy for neoadjuvant/adjuvant treatment of gastric cancer, which has been included in priority review [6] - Shijiazhuang Pharmaceutical Group (01093.HK) received approval for a new indication for Donyi® (liposomal irinotecan injection) for first-line treatment in patients with metastatic pancreatic cancer [6] - Hengrui Medicine (01276) received a clinical trial approval notice for HRS-1780 tablets [8] Investment Insights - Guosen Securities indicated that the short-term adjustment in the Hong Kong stock market opens up space for a market rise in 2026, with net inflows from southbound funds exceeding RMB 110 billion in November [13] - Dongwu Securities highlighted that the main focus for Hong Kong stocks is on technology and cyclical sectors, while also paying attention to innovative drugs, suggesting a barbell allocation strategy due to potential macro and political risks [13] - CITIC Securities projected that the Hong Kong stock market will benefit from internal "14th Five-Year Plan" catalysts and external fiscal and monetary easing from major economies, expecting a sustainable upward trend in revenue and profit [13] - Dongwu Securities also forecasted a continued recovery in the Hong Kong stock market in 2026, citing expected interest rate cuts by the Federal Reserve and a temporary easing of Sino-US relations [14]

Market Overview - The Hong Kong stock market opened lower on December 15, with the Hang Seng Index down 1% at 25,718.14 points, the Hang Seng Tech Index down 1.34% at 5,562.67 points, and the State-Owned Enterprises Index down 1.09% at 8,980.13 points [1] - Major tech stocks declined, including Alibaba down 2.14%, Tencent down 1.62%, and JD.com down 0.61% [1] - The innovative drug sector saw several stocks open lower, with Genscript Biotech down 5.92% and Zai Lab down 3.48% [1] - Chinese brokerage stocks collectively fell, with Everbright Securities dropping over 1% [1] - The automotive sector also experienced declines, with Li Auto down over 2% and XPeng down nearly 2% [1] - However, three-child policy concept stocks and photovoltaic stocks mostly rose, with star stock Jinxin Fertility rising about 3% [1] Company News - China Merchants Energy (01138.HK) signed shipbuilding contracts for one ethylene ship and eighteen oil tankers, totaling RMB 7.882 billion [2] - ZhongAn Online (06060.HK) reported cumulative original insurance premium income of approximately RMB 32.904 billion for the first eleven months [3] - R&F Properties (02777.HK) achieved total sales revenue of approximately RMB 12.7 billion in the first eleven months, a year-on-year increase of 24.63% [4] - Yida China (03639.HK) reported contract sales amounting to approximately RMB 681 million in the first eleven months, a year-on-year decrease of 23.22% [5] - Bole Technology (02592.HK) successfully held a meeting after the second phase of clinical trials for CBT-004 [6] - Junshi Biosciences (02696.HK) received acceptance for its marketing application for Hansizhuang® in combination with chemotherapy for gastric cancer [6] - CSPC Pharmaceutical Group (01093.HK) received approval for a new indication for its drug, Donyin® (liposomal irinotecan injection), for first-line treatment in metastatic pancreatic cancer patients [6] - Biyuan (00926.HK) increased its investment in ERX to maintain a 3% stake to support innovative research and development of non-GLP-1 weight loss therapies [7] - Hengrui Medicine (01276) received approval for clinical trials for HRS-1780 tablets [8] - AVIC Industry (02357.HK) plans to acquire a 59.1816% partnership interest in Hangtou Yuhua for a consideration of RMB 202 million [9] - China Environmental Resources (01130.HK) intends to acquire 90% equity in Sichuan Yuanlai Shun Recycling Resources Co., Ltd. for RMB 9 million [10] - AVIC Industry (02357.HK) proposed to implement full circulation of H-shares [11] - Yabo Technology Holdings (08279.HK) signed a framework agreement with Alipay (Hangzhou) [12] Institutional Insights - Guosen Securities indicated that the short-term adjustment in the Hong Kong stock market opens up space for a market rise in 2026, with net inflows from southbound funds exceeding RMB 110 billion in November [13] - CITIC Securities noted strong performance in gold and silver, while other risk assets were weak, predicting a segmented market for precious metals in 2025 [13] - CITIC Securities also emphasized the importance of resource self-sufficiency in the lithium industry, highlighting the need for low-cost quality resources to navigate market cycles [14]

Company News - China COSCO Shipping Energy Transportation Co., Ltd. (中远海能) has signed shipbuilding contracts with Dalian COSCO Shipping Heavy Industry, Yangzhou COSCO Shipping Heavy Industry, and Guangdong COSCO Shipping Heavy Industry for the construction of one ethylene ship and eighteen oil tankers, with a total cost of RMB 7.882 billion [1] - ZhongAn Online P&C Insurance Co., Ltd. (众安在线) reported a total original insurance premium income of approximately RMB 32.904 billion for the first eleven months [2] - R&F Properties Co., Ltd. (富力地产) achieved total sales revenue of approximately RMB 12.7 billion in the first eleven months, representing a year-on-year increase of 24.63% [3] - Yida China Holdings Limited (亿达中国) reported a contracted sales amount of approximately RMB 681 million for the first eleven months, a year-on-year decrease of 23.22% [4] - Karsen International Holdings Limited (卡森国际) has entered into a steel structure procurement contract with suppliers, involving an investment of RMB 43.5366 million [4] Clinical and Regulatory Updates - Bolex Cloud-B (拨康视云-B) successfully held a meeting after the second phase of clinical trials for CBT-004 [5] - Innovent Biologics, Inc. (复宏汉霖) has had its application for the marketing registration of Hansizhuang® combined chemotherapy for gastric cancer accepted by the National Medical Products Administration, and it has been included in the priority review [5] - CSPC Pharmaceutical Group Limited (石药集团) received approval for a new indication for Donyi® (Irinotecan Liposome Injection) for first-line treatment in patients with metastatic pancreatic cancer [5] - Heng Rui Medicine (恒瑞医药) received a clinical trial approval notice for HRS-1780 tablets [7] Investment and Acquisition Activities - AVIC Aviation Industry Corporation (中航科工) plans to acquire a 59.1816% partnership interest in Hangtou Yuhua for a consideration of RMB 202 million [8] - China Environment Resources Holdings Limited (中国环境资源) intends to acquire 90% equity in Sichuan Yuanlai Shun Recycling Resources Co., Ltd. for RMB 9 million [9] - AVIC Aviation Industry Corporation (中航科工) has proposed to implement full circulation of H-shares [10] - Yabo Technology Holdings Limited (亚博科技控股) has entered into a framework agreement with Alipay (Hangzhou) [11] Financing and Buyback Activities - Yum China Holdings, Inc. (百胜中国) has entered into a share buyback agreement with a total repurchase amount of approximately USD 460 million, including about HKD 880 million under the Hong Kong plan, as part of a plan to return USD 1.5 billion to shareholders through dividends and share buybacks by 2026 [12] - Tencent Holdings Limited (腾讯控股) repurchased approximately 1.044 million shares for about HKD 636 million, with repurchase prices ranging from HKD 601.5 to HKD 616 [13] - Xuanwu Cloud (玄武云) repurchased 6,000 shares for a total of HKD 6,467.79, with prices between HKD 1.05 and HKD 1.07 [14] - China COSCO Shipping Holdings Co., Ltd. (中远海控) repurchased approximately 4.461 million shares for about HKD 60.8605 million, with prices ranging from HKD 13.38 to HKD 13.82 [15] - Geely Automobile Holdings Limited (吉利汽车) repurchased approximately 1.362 million shares for about HKD 23.9241 million, with prices between HKD 17.29 and HKD 17.82 [16] - China Anshun Energy (中国安储能源) plans to issue a total of 524 million shares at a discount of approximately 19.12%, aiming to raise about HKD 288.2 million [16]

Core Viewpoint - Yida China (03639) reported a significant decline in contract sales and sales area for the period ending November 30, 2025, indicating potential challenges in the real estate market [1] Group 1: Sales Performance - The group's contract sales amount for November 2025 was approximately RMB 0.30 billion, with equity contract sales also at around RMB 0.30 billion [1] - For the 11 months ending November 30, 2025, the group's contract sales totaled approximately RMB 6.81 billion, while equity contract sales were about RMB 6.62 billion, representing year-on-year decreases of 23.22% and 22.84% respectively [1] - The sales area for the same 11-month period was 5.47 million square meters, with equity sales area at 5.17 million square meters [1] Group 2: Sales Price - The average sales price for the group was approximately RMB 13,600 per square meter, with equity sales price at around RMB 12,800 per square meter [1] - The average sales price for November 2025 was approximately RMB 13,600 per square meter, consistent with the overall sales price trend [1]

Core Viewpoint - Yida China (03639) reported a significant decline in contract sales and sales area for the period ending November 2025, indicating challenges in the real estate market [1] Group 1: Sales Performance - The group's contract sales amount for November 2025 was approximately RMB 0.30 billion, with equity contract sales also at about RMB 0.30 billion [1] - For the 11 months ending November 30, 2025, the group's contract sales totaled approximately RMB 6.81 billion, while equity contract sales were around RMB 6.62 billion, representing year-on-year decreases of 23.22% and 22.84% respectively [1] - The sales area for the same 11-month period was 5.47 million square meters, with equity sales area at 5.17 million square meters, showing a decline in sales activity [1] Group 2: Sales Price Trends - The average sales price for the group was approximately RMB 13,600 per square meter in November 2025, consistent with the equity sales price of the same amount [1] - The average sales price for the 11-month period was about RMB 12,500 per square meter for total sales and RMB 12,800 per square meter for equity sales, indicating a slight decrease in pricing [1]

Core Viewpoint - Yida China (03639.HK) reported contract sales figures for November 2025, indicating a total contract sales amount of approximately RMB 0.30 billion and an equity contract sales amount of approximately RMB 0.30 billion, with a sales area of 2,189 square meters and an average sales price of RMB 13,563 per square meter [1] Group 1 - For the eleven months ending November 30, 2025, the company achieved a total contract sales amount of approximately RMB 6.81 billion and an equity contract sales amount of approximately RMB 6.62 billion [1] - The total sales area for the same period was 54,647 square meters, while the equity sales area was 51,653 square meters [1] - The average sales price for the eleven months was approximately RMB 12,467 per square meter for total sales and RMB 12,807 per square meter for equity sales [1]

二零二五年十一月未經審核營運數據 億達中國控股有限公司（「本公司」）董事會（「董事會」）宣佈本公司及附屬公司 （「本集團」）就二零二五年十一月的若干未經審核營運數據統計如下： 上述銷售數據未經審核，乃根據本集團初步內部資料編製，該等銷售數據與本公 司按年度或半年度刊發的經審核或未經審核綜合財務報表中披露的數據可能存在 差異。因此，上述數據僅供投資者參考。投資者買賣本公司證券時務須謹慎行 事，並避免不恰當地依賴該等資料。如有任何疑問，投資者應尋求專業人士或財 務顧問的專業意見。 億達中國控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3639） 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。 YIDA CHINA HOLDINGS LIMITED 1 • 於二零二五年十一月，本集團的合約銷售金額約為人民幣0.30億元及本集團 的權益合約銷售金額約為人民幣0.30億元。同期，本集團的銷售面積為2,189 平方米及權益銷售面積為2,189平方米， ...

Core Insights - As of December 10, 30 stocks reached their 52-week highs, with Design Metropolis (01545), Platinum Holdings (00459), and China Boton (03318) leading the increase rates at 40.82%, 35.48%, and 30.23% respectively [1][2] 52-Week Highs - Design Metropolis (01545) closed at 0.124, with a peak of 0.138, achieving a high rate of 40.82% [1] - Platinum Holdings (00459) closed at 0.121, with a peak of 0.126, achieving a high rate of 35.48% [1] - China Boton (03318) closed at 2.090, with a peak of 2.800, achieving a high rate of 30.23% [1] - Other notable stocks include: - China New Holdings (08125) at 25.00% [1] - Qiaoyang International Holdings (08070) at 14.46% [1] 52-Week Lows - The stock with the largest decline was Jingye Mingbang Group (02231), which fell to 0.099, a decrease of 26.40% [2] - Other significant declines included: - Zhonggang Petroleum (00632) at -16.40% [2] - Guofu Hydrogen Energy (02582) at -13.31% [2] - Additional stocks with notable declines: - Haotian International Construction Investment (01341) at -11.11% [2] - Jiaming Group Holdings (01271) at -10.00% [2]

億達中國控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3639） YIDA CHINA HOLDINGS LIMITED （住址） 或如未能出席，委任大會主席 （見附註2） 作為本人╱吾等的委任代表，出席本公司謹訂於二零二五年十二月二十九 日（星期一）上午十時正假座中國遼寧省大連市沙河口區東北路93號億達廣場10樓董事會議廳召開及舉行的股東特別 大會及其任何續會，並就會上的任何決議案或就此提呈的動議代表本人╱吾等投票。本人╱吾等授權及指示委任代 表，按指示 （見附註3） 對以下決議案進行投票： | | 普通決議案 | （見附註3） 贊成 | 反對 | （見附註3） | | --- | --- | --- | --- | --- | | 1. | 謹此批准、確認及追認抵頂協議及其項下擬進行之交易；及一般及無條件 | | | | | | 授權本公司任何一名或多名董事為及代表本公司使抵頂協議及其項下擬進 | | | | | | 行交易生效或與之相關而作出彼等認為屬必要、適當、合宜或權宜的一切 | | | | | | 行動及事宜，簽署及簽立所有有關文件（及於必要時加蓋本公司公章）。 | | | | 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通告之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示概不就因本通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。 YIDA CHINA HOLDINGS LIMITED 億達中國控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3639） 股東特別大會通告 主席兼行政總裁 姜修文 普通決議案 「動議： 承董事會命 億達中國控股有限公司 香港，二零二五年十二月八日 – 1 – (a) 謹此批准、確認及追認抵頂協議及其項下擬進行之交易；及 (b) 一般及無條件授權本公司任何一名或多名董事為及代表本公司使抵頂協議 及其項下擬進行交易生效或與之相關而作出彼等認為屬必要、適當、合宜 或權宜的一切行動及事宜，簽署及簽立所有有關文件（及於必要時加蓋本公 司公章）。」 茲通告億達中國控股有限公司（「本公司」）謹訂於二零二五年十二月二十九日（星 期一）上午十時正假座中國遼寧省大連市沙河口區東北路93號億達廣場10樓董事會議 廳舉行股東特別大會（「股東特別大會」），藉以考慮並酌情通過（不論有否作出修訂）以 下決議案（將作為本公 ...