Major Events - HASHKEY HLDGS (03887) plans to conduct an IPO from December 9 to December 12, aiming to globally offer 241 million shares and has secured cornerstone investors including UBS AM Singapore [1] - Tuda Tong (02665) is set to list on December 10 with a share price of HKD 10 [1] - Federated Pharmaceuticals (03933) has received approval from the National Medical Products Administration for its moxifloxacin hydrochloride eye drops [1] - Shou Cheng Holdings (00697) has attracted investments from Beijing Robotics Fund and Shou Bao Fund for its subsidiary Yun Shen Chu Technology [1] - Botai Vehicle Link (02889) has been selected by a leading OEM in the new energy vehicle sector as a supplier for the next-generation smart car cockpit project [1] - Guangdong-Hong Kong-Macau Holdings (01396) subsidiary Tiandun Data has signed a strategic cooperation agreement with Huagong Technology (000988.SZ) [1] Operating Performance - China Life Insurance (02628) reported total premiums exceeding CNY 700 billion by the end of November [1] - Datang Renewable (01798) achieved a cumulative power generation of approximately 31.6521 million MWh in the first 11 months, representing a year-on-year increase of 10.58% [1] - Longfor Group (00960) recorded total contract sales of CNY 59.39 billion in the first 11 months [1] - China Jinmao (00817) reported a cumulative contracted sales amount of CNY 100.679 billion in the first 11 months, reflecting a year-on-year growth of 21.3% [1] - New Town Development (01030) reported a cumulative contract sales amount of approximately CNY 17.917 billion in the first 11 months, a year-on-year decrease of 51.53% [1] - CIFI Holdings Group (00884) achieved a cumulative contract sales amount of approximately CNY 15.1 billion in the first 11 months [1]

Core Viewpoint - HashKey Holdings is planning a global offering of approximately 241 million shares, with a price range of HKD 5.95 to 6.95 per share, aiming to raise around HKD 14.264 billion if the midpoint price is applied [2][13]. Group 1: Offering Details - The company intends to offer about 24.057 million shares in Hong Kong and approximately 217 million shares internationally, with the offering period set from December 9 to December 12, 2025, and the expected pricing date on December 15, 2025 [2]. - The shares will be traded in lots of 400 shares, with J.P. Morgan and Guotai Junan International acting as joint sponsors [2]. - A cornerstone investment agreement has been established, with cornerstone investors agreeing to subscribe for shares totaling USD 75 million (approximately HKD 584 million) under certain conditions [2]. Group 2: Company Overview - HashKey provides a licensed digital asset platform offering trading facilitation, on-chain services, and asset management, and has launched HashKey Chain, a scalable Layer 2 infrastructure [4]. - The company is recognized as the largest regional onshore platform in Asia by trading volume as of 2024, and it is also the largest on-chain service provider and digital asset management institution in Asia by staked assets [4][5]. - As of September 30, 2025, HashKey's platform supports 80 types of digital asset tokens, including major Layer-1 assets and DeFi tokens [5]. Group 3: Financial Performance - HashKey's revenue sources include trading facilitation, on-chain services, and asset management, with significant growth in trading volumes from HKD 4.2 billion in 2022 to HKD 328 billion in 2023 [11][13]. - The company recorded revenues of HKD 129 million, HKD 208 million, and HKD 721 million for the years 2022, 2023, and 2024, respectively, indicating rapid expansion in trading facilitation services [11]. - As of August 31, 2025, HashKey held HKD 1.657 billion in cash and cash equivalents, along with HKD 592 million in digital assets, with 84% of the digital assets being mainstream tokens [12]. Group 4: Use of Proceeds - The company plans to allocate approximately 40% of the global offering proceeds for technology and infrastructure upgrades, another 40% for market expansion and ecosystem partnerships, and the remaining 20% for operational and risk management as well as general corporate purposes [14].

Core Viewpoint - HashKey Holdings Ltd., the largest licensed virtual asset exchange in Hong Kong, is seeking to raise up to HKD 1.67 billion (USD 215 million) through an initial public offering (IPO) [1][3]. Group 1: IPO Details - The company announced it will issue 240.6 million shares at a price range of HKD 5.95 to HKD 6.95 per share [1][3]. - If priced at the upper limit, HashKey's valuation will reach approximately HKD 19 billion [1][3]. - The subscription period for investors is from Tuesday to Friday, with the stock expected to be listed on December 17 [1][3]. Group 2: Industry Context - This IPO represents a critical test for Hong Kong's ambition to establish itself as a regional digital asset hub [1][3]. - It is among the last batch of companies driving a surge in IPO activity this year, with the total IPO financing in Hong Kong expected to reach a four-year high [1][3]. Group 3: Company Background - HashKey is one of the first cryptocurrency exchanges to receive a license following the introduction of a dedicated digital asset regulatory framework in Hong Kong in 2022 [1][3]. - The company's business includes cryptocurrency trading, venture capital, and asset management [1][3]. - Proceeds from the IPO will be used for technology and infrastructure upgrades, talent recruitment, and enhancing risk control [1][3]. Group 4: Underwriters - JPMorgan and Guotai Junan are serving as joint sponsors for this transaction [2][4].

Core Viewpoint - HASHKEY HLDGS has officially launched its global offering in Hong Kong, aiming to raise approximately HKD 14.264 billion through the issuance of around 241 million shares, with a price range of HKD 5.95 to HKD 6.95 per share [2] Group 1: Offering Details - The global offering consists of approximately 241 million shares, with around 217 million shares allocated for international offering and 24.06 million shares for public offering in Hong Kong [2] - The offering period for the public sale is from December 9 to December 12, with the final offer price and allocation results expected to be announced on December 16 [2] - Trading of the shares on the Hong Kong Stock Exchange is set to commence on December 17, with a stock code of 3887 and an entry fee of approximately HKD 2,808.04 [2] Group 2: Investor Support - The offering has secured support from nine cornerstone investors, including UBS AM Singapore, Fidelity, CDH, and others, who have committed to subscribe for shares totaling USD 75 million (approximately HKD 584 million) at the offer price [3] Group 3: Company Overview - HASHKEY HLDGS is a licensed digital asset company providing trading facilitation, on-chain services, and asset management, holding 13 licenses across various jurisdictions including Hong Kong, Singapore, and Japan [3] - The company is a leading player in the virtual asset exchange sector in Hong Kong, with a trading volume of HKD 638.4 billion in 2024, capturing over 75% market share [3] Group 4: Financial Performance - The company has experienced rapid revenue growth, with a cumulative increase of nearly 460% from 2022 to 2024, projecting revenue of HKD 721 million in 2024 [4] - Despite significant investments in technology and compliance, the company has not yet achieved profitability, forecasting a net loss of HKD 1.19 billion in 2024 and over HKD 500 million in the first half of 2025 [4] - User growth has been explosive, increasing from 18 registered users at the end of 2022 to 1.4469 million by June 2025, with a customer retention rate of 99.9% during the historical record period [4]

HashKey Holdings Limited （於開曼群島註冊成立的有限公司） 股份代號 : 3887 全球發售 聯席保薦人、整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 重要提示 重要提示：閣下如對本招股章程的任何內容有任何疑問，應尋求獨立專業意見。 HashKey Holdings Limited （於開曼群島註冊成立的有限公司） 全球發售 | 全球發售項下的發售股份數目 | ： | 240,570,000股發售股份（視乎發售量調 | | --- | --- | --- | | | | 整權及超額配股權行使與否而定） | | 香港發售股份數目 | ： | 24,057,200股發售股份（可予重新分配及 | | | | 視乎發售量調整權行使與否而定） | | 國際發售股份數目 | ： | 216,512,800股發售股份（可予重新分配 | | | | 及視乎發售量調整權及超額配股權行 | | | | 使與否而定） | | 最高發售價 | ： | 每股發售股份6.95港元，另加1%經 | | | | 紀佣金、0.0027%證監會交易徵費、 | | | | 0.00565%聯交所交易費及0.0 ...

本公告僅供參考，並不構成收購、購買或認購本公司證券的邀請或要約。本公告並非招股章 程。潛在投資者在決定是否投資發售股份前，務請細閱招股章程，以了解有關本公司及下述全 球發售的詳細資料。有關發售股份的任何投資決定應僅依賴招股章程所載資料作出。 本公告不會直接或間接於或向美國（包括其領土及屬地、美國任何州及哥倫比亞特區）發佈、刊 發、派發。本公告並非且不擬構成或組成在美國境內或於任何其他司法權區要約出售任何證券 或招攬購買或認購任何證券的一部分。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，亦不得在美國境內提呈發 售、出售、質押或以其他方式轉讓，惟根據美國證券法的登記規定的適用豁免或在不受該登記 規定約束的交易中進行且遵守任何適用的州證券法則除外。發售股份根據美國證券法S規例在 美國境外以離岸交易方式，或在美國境內根據第144A條或美國證券法的任何其他登記規定豁免 向合資格機構買家提呈發售及出售。 就全球發售而言，J.P. Morgan Securities (Asia Pacific) Limited作為穩定價格操作人（「穩定價格 操作人 ...

香港聯合交易所有限公司及證券及期貨事務監察委員會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，並表明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。 HashKey Holdings Limited （於開曼群島註冊成立的有限公司） 警告 本公告乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會 （「證監會」）的要求而刊發，僅用作向香港公眾人士提供資料。 閣下閱覽本公告，即表示 閣下知悉、接納並向HashKey Holdings Limited（「本公 司」）、其聯席保薦人、整體協調人、顧問或包銷團成員表示同意： 1 (a) 在聯交所網站登載本公告，並不會引致本公司、其聯席保薦人、整體協調 人、顧問或包銷團成員須於香港或任何其他司法管轄區進行發售或配售的責 任。本公司最終會否進行發售或配售仍屬未知之數； (b) 本公告所涉及的上市申請並未獲批准，聯交所及證監會或會接納、發回或拒 絕有關的公開發售及╱或上市申請； (c) 本公告不應被視為勸誘認購或購買任何證券，亦不擬構成該等勸誘； (d) 本公司或其任何聯屬人士、顧問或其包銷團成員概無透過 ...

HashKey Holdings Limited Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Post Hearing Information Pack, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Post Hearing Information Pack. Post Hearing Information Pack of (the "Compan ...

香港交易及結算所有限公司、香港聯合交易所有限公司與證券及期貨事務監察委員會對本聆訊後資料集的 內容概不負責，對其準確性或完整性亦不發表任何意見，並明確表示概不就因本聆訊後資料集全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 HashKey Holdings Limited （「本公司」） （於開曼群島註冊成立的有限公司） 的聆訊後資料集 警告 本聆訊後資料集乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」）的 要求而刊發，僅用作提供資料予香港公眾人士。 本聆訊後資料集為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代 表 閣下知悉、接納並向本公司、本公司的保薦人、整體協調人、顧問或承銷團成員表示同意： 本公司招股章程根據香港法例第32章公司（清盤及雜項條文）條例送呈香港公司註冊處處長登記前，本公 司不會向香港公眾人士提出要約或邀請。倘在適當時候向香港公眾人士提出要約或邀請，有意投資者務請 僅依據於香港公司註冊處處長註冊的本公司招股章程作出投資決定，招股章程的文本將於發售期內向公眾 人士刊發。 (a) 本文件僅為向香港公眾人士提 ...

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. HashKey Holdings Limited (Incorporated in the Cayman Islands with limited liability) WARNING The publication of this announcement is required by T ...