（原标题：港股异动 | 金界控股(03918)再跌超5% 驻柬使馆提醒柬泰边境的中国公民加强安全防范） 智通财经APP获悉，金界控股(03918)再跌超5%，截至发稿，跌3.53%，报4.92港元，成交额1513.09万港 元。 消息面上，柬泰边境冲突已持续多日。据新华社报道，中国驻柬埔寨大使馆10日晚发布领事消息，提醒 靠近柬泰边境地区的中国公民尽快转移至安全地带。消息说，有网络媒体10日报道称，柬埔寨奥多棉吉 省部分区域遭到炮击，有中国公民受伤。中国驻柬使馆正积极核实有关情况。 高盛近日发布研报称，将金界控股评级由"中性"升至"买入"，因对公司的博彩总收入及EBITDA持续上 升充满信心。该行指，全新的德崇国际机场已启用，客运力大幅提升。该行数据显示，第四季至今，前 往金边的航班数量持续强劲增长，整体同比增幅达10%至15%，其中中国航线更升40%至50%。另外， 柬埔寨政府最近亦对中国旅行试行免签政策。 ...

每经AI快讯，金界控股(03918.HK)午后跌超4%，截至发稿跌3.39%，报5.13港元，成交额2282.57万港 元。 ...

消息面上， 柬泰边境冲突已持续多日，中国驻柬埔寨使馆提醒靠近柬泰边境的中国公民加强安全防 范。据中国驻柬埔寨大使馆微信公众号消息，12月10日，有网络媒体报道称，柬埔寨奥多棉吉省奥斯玛 赌场区域遭到炮击，有中国公民受伤。中国驻柬使馆正积极核实有关情况。 高盛近日发布研报称，将金界控股评级由"中性"升至"买入"，因对公司的博彩总收入及EBITDA持续上 升充满信心。该行指，全新的德崇国际机场已启用，客运力大幅提升。该行数据显示，第四季至今，前 往金边的航班数量持续强劲增长，整体同比增幅达10%至15%，其中中国航线更升40%至50%。另外， 柬埔寨政府最近亦对中国旅行试行免签政策。 金界控股(03918)午后跌超4%，截至发稿，跌3.39%，报5.13港元，成交额2282.57万港元。 ...

高盛近日发布研报称，将金界控股评级由"中性"升至"买入"，因对公司的博彩总收入及EBITDA持续上 升充满信心。该行指，全新的德崇国际机场已启用，客运力大幅提升。该行数据显示，第四季至今，前 往金边的航班数量持续强劲增长，整体同比增幅达10%至15%，其中中国航线更升40%至50%。另外， 柬埔寨政府最近亦对中国旅行试行免签政策。 智通财经APP获悉，金界控股(03918)午后跌超4%，截至发稿，跌3.39%，报5.13港元，成交额2282.57万 港元。 消息面上， 柬泰边境冲突已持续多日，中国驻柬埔寨使馆提醒靠近柬泰边境的中国公民加强安全防 范。据中国驻柬埔寨大使馆微信公众号消息，12月10日，有网络媒体报道称，柬埔寨奥多棉吉省奥斯玛 赌场区域遭到炮击，有中国公民受伤。中国驻柬使馆正积极核实有关情况。 ...

Core Viewpoint - Goldman Sachs upgraded the rating of Kwan Cheung Holdings (03918) from "Neutral" to "Buy" due to confidence in the company's increasing gaming revenue and EBITDA [1] Group 1: Company Performance - Kwan Cheung Holdings' stock rose by 3.07%, reaching HKD 5.37, with a trading volume of HKD 21.02 million [1] - The company is expected to see a 13% year-on-year growth in gaming revenue and a 15% increase in EBITDA for the fiscal year 2026 [1] - The estimated free cash flow yield is approximately 11%, and the dividend yield is around 8% [1] Group 2: Market Conditions - The newly opened Dechong International Airport has significantly increased passenger capacity [1] - Flight numbers to Phnom Penh have shown strong growth, with an overall year-on-year increase of 10% to 15%, and a 40% to 50% increase in flights from China [1] - The Cambodian government has recently implemented a visa-free policy for Chinese travelers [1] Group 3: Valuation and Forecast - The current valuation of the company is not considered excessive, with an enterprise value to after-tax EBITDA ratio of 5 times for the fiscal year 2026 [1] - Historical industry upcycle valuations have reached 6 to 7 times [1] - Goldman Sachs adjusted its EBITDA forecasts for 2025 to 2027, increasing estimates by 34% to 40%, and raised the target price from HKD 3.88 to HKD 7.5 [1]

Core Viewpoint - Goldman Sachs upgraded the rating of Kwan Cheung Holdings (03918) from "Neutral" to "Buy" due to confidence in the company's increasing gaming revenue and EBITDA [1] Group 1: Company Performance - Kwan Cheung Holdings' stock rose by 3.07%, reaching HKD 5.37, with a trading volume of HKD 21.02 million [1] - The company is expected to see a 13% year-on-year growth in gaming revenue and a 15% increase in EBITDA for the fiscal year 2026 [1] - The estimated free cash flow yield is approximately 11%, and the dividend yield is around 8% [1] Group 2: Market Conditions - The newly opened Dechong International Airport has significantly increased passenger capacity [1] - Flight numbers to Phnom Penh have shown strong growth, with an overall year-on-year increase of 10% to 15%, and a 40% to 50% increase in flights from China [1] - The Cambodian government has recently implemented a visa-free policy for Chinese travelers [1] Group 3: Valuation and Forecast - The current valuation of the company is not considered excessive, with an enterprise value to post-tax EBITDA ratio of 5 times for the fiscal year 2026 [1] - Historical industry upcycle valuations have reached 6 to 7 times [1] - Goldman Sachs adjusted its EBITDA forecasts for 2025 to 2027, increasing estimates by 34% to 40%, and raised the target price from HKD 3.88 to HKD 7.50 [1]

Core Viewpoint - Goldman Sachs upgraded the rating of Golden Entertainment (03918) from "Neutral" to "Buy" due to confidence in the company's increasing gaming revenue and EBITDA [1] Group 1: Company Valuation - The current valuation of the company is not considered excessive, with an enterprise value to after-tax EBITDA ratio of 5 times for the fiscal year 2026, compared to a historical peak of 6 to 7 times during industry upcycles [1] - Goldman Sachs adjusted its EBITDA forecasts for 2025 to 2027, increasing estimates by 34% to 40%, and raised the target price from HKD 3.88 to HKD 7.5 [1] Group 2: Market and Operational Insights - The newly opened Decho International Airport has significantly enhanced passenger capacity, contributing to a strong growth in flight numbers to Phnom Penh, with an overall year-on-year increase of 10% to 15%, and a 40% to 50% increase in flights from China [1] - The Cambodian government has recently implemented a visa-free policy for Chinese travelers, which is expected to further boost gaming revenue [1] Group 3: Financial Projections - For the fiscal year 2026, the company is projected to see a 13% year-on-year increase in total gaming revenue and a 15% increase in EBITDA, which could yield approximately 11% free cash flow yield and 8% dividend yield [1]

Core Viewpoint - Goldman Sachs upgraded the rating of Golden Century Holdings (03918) from "Neutral" to "Buy" due to confidence in the company's increasing gaming revenue and EBITDA [1] Group 1: Company Valuation - The current valuation of the company is not considered excessive, with an enterprise value to after-tax EBITDA ratio of 5 times for the fiscal year 2026, compared to historical peaks of 6 to 7 times during industry upcycles [1] - Goldman Sachs adjusted its EBITDA forecasts for 2025 to 2027, increasing estimates by 34% to 40%, and raised the target price from HKD 3.88 to HKD 7.5 [1] Group 2: Market and Operational Insights - The newly opened Dechong International Airport has significantly increased passenger capacity, contributing to a strong growth in flights to Phnom Penh, with an overall year-on-year increase of 10% to 15%, and a 40% to 50% increase in flights from China [1] - The Cambodian government has recently implemented a visa-free policy for Chinese travelers, which is expected to further boost tourism and gaming revenue [1] Group 3: Financial Projections - For the fiscal year 2026, the company is projected to see a year-on-year increase in gaming revenue and EBITDA of 13% and 15%, respectively, which could yield approximately 11% free cash flow yield and 8% dividend yield [1]

Core Viewpoint - Goldman Sachs upgraded the rating of Goldfield Holdings from "Neutral" to "Buy" due to confidence in the continuous increase in the company's gaming revenue and EBITDA [1] Group 1: Company Performance - The newly opened Dechong International Airport has significantly enhanced passenger capacity [1] - The Cambodian government has recently implemented a visa-free policy for Chinese travelers, which is expected to boost tourism [1] Group 2: Financial Projections - For the fiscal year 2026, the company’s gaming revenue and EBITDA are projected to grow by 13% and 15% year-on-year, respectively [1] - This growth is estimated to yield approximately an 11% free cash flow yield and an 8% dividend yield [1] Group 3: Valuation and Target Price - The current valuation of the company is not considered excessive, with an enterprise value to after-tax EBITDA ratio of 5 times for fiscal year 2026 [1] - Historically, during industry upcycles, valuations can reach 6 to 7 times [1] - The target price has been raised from HKD 3.88 to HKD 7.5, with EBITDA forecasts for 2025 to 2027 adjusted between 34% to 40% [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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: NagaCorp Ltd. 金界控股有限公司 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03918 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 8,000,000,000 | USD | 0.0125 | USD | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | 0 | | 本月底結存 | | | 8,000,000,000 | USD | | 0.0125 USD | | 100,000,000 | 本月底法 ...