Core Viewpoint - The report maintains a "Buy" rating for SF Express (09699), highlighting continued revenue growth driven by deepening key account (KA) engagement, mid-tier expansion, and penetration into lower-tier markets, with profit growth supported by increased order density, AI scheduling, and the scaling of unmanned vehicles [1] Group 1: Revenue Growth - In H1 2025, the company achieved operating revenue of 10.24 billion yuan, a year-on-year increase of 49% [2] - Revenue from B-end same-city delivery services, C-end same-city delivery services, and last-mile delivery business reached 4.5 billion, 1.3 billion, and 4.5 billion yuan respectively, with year-on-year growth of 55%, 13%, and 57% [2] - The number of active merchants on the B-end platform reached 850,000, a 55% increase year-on-year, with county-level merchants doubling their daily order volume [2] Group 2: Last-Mile Delivery Growth - Last-mile business revenue in H1 2025 was 4.5 billion yuan, reflecting a 57% year-on-year increase [3] - Growth was driven by deep collaboration with SF Group's trunk network, with rapid increases in e-commerce parcel delivery scale and proportion [3] - Daily order volume in the collection segment increased by 150% year-on-year during peak periods such as nights, holidays, and shopping festivals [3] Group 3: Profitability Improvement - The company's gross margin in H1 2025 was 6.7%, with a net profit of 137 million yuan, representing a 120% year-on-year increase [4] - The net profit margin improved by 0.4 percentage points to 1.3% [4] - Profitability enhancement was primarily due to scale effects from increased order volume, improved network density, and cost reductions from refined management [4]

Company News - Sun Hung Kai Properties (00016.HK) reported a revenue of HKD 79.721 billion for the fiscal year 2025, an increase of 11.5% year-on-year; net profit reached HKD 19.277 billion, up 1.2% year-on-year [2] - Sincere Watch International (00732.HK) recorded a net operating revenue of approximately HKD 11.011 billion for the first eight months, a decrease of 5.5% year-on-year; in August, the net operating revenue was about HKD 1.445 billion, down 6.5% year-on-year [2] Financial Activities - China Construction Bank (00939.HK) announced that CCB Financial Leasing plans to increase its capital by HKD 3 billion to CCB Shipping and Aviation [3] Pharmaceutical Developments - Heng Rui Medicine (01276.HK) received approval to conduct clinical trials for RSS0393 ointment, which can alleviate tissue damage and inflammation related to atopic dermatitis [4] - Heng Rui Medicine (01276.HK) also received approval for clinical trials of HRS-4729 injection, a tri-agonist for GLP-1R/GIPR/GCGR [4] Real Estate Sales Performance - China Overseas Land & Investment (00688.HK) reported a contracted sales amount of HKD 150.331 billion for the first eight months, a decline of 16.5% year-on-year; August contracted sales were HKD 18.33 billion, down 0.7% year-on-year [5] - Sunac China (01918.HK) recorded a contracted sales amount of approximately HKD 30.47 billion for the first eight months, a decrease of 13% year-on-year; August contracted sales were HKD 5.39 billion, down 26.7% year-on-year [5] - China Overseas Grand Oceans Group (00081.HK) reported a contracted sales amount of HKD 20.783 billion for the first eight months, a decline of 10.6% year-on-year; August contracted sales were HKD 2.133 billion, an increase of 6.1% year-on-year [5] - Gemdale Corporation (00535.HK) reported a total contracted sales of approximately HKD 7.588 billion for the first eight months, a decrease of 39% year-on-year; August contracted sales were HKD 608 million, down 52.9% year-on-year [5] - Hongyang Real Estate (01996.HK) reported a contracted sales amount of HKD 3.506 billion for the first eight months, a decrease of 42.2% year-on-year; August contracted sales were HKD 299 million, down 48.5% year-on-year [5] - Ronshine China Holdings (03301.HK) reported a contracted sales amount of approximately HKD 2.7 billion for the first eight months, a decline of 46.4% year-on-year; August contracted sales were about HKD 130 million, down 87.9% year-on-year [5] Share Buyback Activities - HSBC Holdings (00005.HK) repurchased 2.01 million shares at a cost of approximately HKD 200 million, with prices ranging from HKD 98.75 to HKD 100.3 [6] - Midea Group (00300.HK) repurchased 310,000 shares at a cost of approximately HKD 25.849 million, with prices ranging from HKD 83.3 to HKD 83.5 [6] - Hang Seng Bank (00011.HK) repurchased 210,000 shares at a cost of approximately HKD 23.799 million, with prices ranging from HKD 112.9 to HKD 113.7 [6] - MGM China Holdings (02282.HK) repurchased 1 million shares at a cost of approximately HKD 15.687 million, with prices ranging from HKD 15.58 to HKD 15.97 [6] Shareholding Changes - Kanglong Chemical (03759.HK) completed a share reduction plan, with a total of 26.6729 million shares reduced [6] - Sinopec Limited (00386.HK) canceled 67.624 million shares that had been repurchased [6]

Group 1 - The company, Xingsheng International, announced a total subscription amount of 44.88 million USD for the Industrial Global Dollar Currency Fund during the period from January 28, 2025, to September 4, 2025 [1] - The subscription has been confirmed for the specified period, and the participation shares have been allocated to Xingsheng International Securities and CISI Capital [1] - The total consideration for the subscription is 44.88 million USD, excluding transaction costs [1]

Group 1 - The core point of the article is that Xingsheng International (06058) announced a subscription for a total of $44.88 million in fund participation shares through its wholly-owned subsidiary Xingsheng International Securities and indirectly through CISI Capital [1] - The subscription period is from January 28, 2025, to September 4, 2025, and the participation shares have been confirmed and allocated to Xingsheng International Securities and CISI Capital [1] - The total consideration for the subscription amounts to $44.88 million, which is approximately HKD 352 million, excluding transaction costs [1]

Group 1 - The company, Xingsheng International, announced that its wholly-owned subsidiary, Xingsheng International Securities, and its indirectly wholly-owned subsidiary, CISI Capital, will subscribe for a total of HKD 174 million in fund participation shares from January 28, 2025, to September 4, 2025 [1] - The subscription has been confirmed for the period from January 28, 2025, to September 4, 2025, and the participation shares have been allocated to Xingsheng International Securities and CISI Capital [1] - The total consideration for the subscription amounts to HKD 174 million, excluding transaction costs [1]

Group 1 - The company, Xingsheng International (06058), announced that its wholly-owned subsidiary, Xingsheng International Securities, and its indirectly wholly-owned subsidiary, CISI Capital, will subscribe for a total of HKD 174 million in fund participation shares [1] - The subscription period is from January 28, 2025, to September 4, 2025, and the subscriptions have been confirmed during this period [1] - The total consideration for the participation shares is HKD 174 million, excluding transaction costs [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。 China Industrial Securities International Financial Group Limited 興證國際金融集團有限公司 (於開曼群島註冊成立之有限公司) (股份代號：6058) 有關認購基金之須予披露交易 認購事項 本公司直接全資附屬公司興證國際證券及間接全資附屬公司CISI Capital於自二零二五年一 月二十八日至二零二五年九月四日期間認購總額為44,880,000美元(相當於約352,308,000港 元)之基金參與份額，有關認購已於自二零二五年一月二十八日至二零二五年九月四日期間 分別獲確認，而參與份額已獲分配予興證國際證券及CISI Capital，總代價為44,880,000美元 (相當於約352,308,000港元)，不包括交易成本。 上市規則之涵義 由於上市規則第14.07條項下各自有關(i)本次認購事項(獨立計算)；及(ii)本次認購事項與過 往認 ...

Core Viewpoint - The company, Xingzheng International, announced a total subscription of HKD 174 million for fund participation from January 28, 2025, to September 4, 2025, through its wholly-owned subsidiary and indirect subsidiary [1] Group 1 - The total amount subscribed for the fund participation is HKD 174 million [1] - The subscription period is from January 28, 2025, to September 4, 2025 [1] - The fund referred to is the Industrial Bank Global Hong Kong Dollar Money Market Fund [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。 China Industrial Securities International Financial Group Limited 興證國際金融集團有限公司 (於開曼群島註冊成立之有限公司) (股份代號：6058) 有關認購基金之須予披露交易 認購事項 本公司直接全資附屬公司興證國際證券及間接全資附屬公司CISI Capital於自二零二五年一月 二十八日至二零二五年九月四日期間認購總額為174,250,000港元之基金參與份額，有關認購 已於自二零二五年一月二十八日至二零二五年九月四日期間分別獲確認，而參與份額已獲分 配予興證國際證券及CISI Capital，總代價為174,250,000港元，不包括交易成本。 本公司直接全資附屬公司興證國際證券及間接全資附屬公司CISI Capital於自二零二五年一 月二十八日至二零二五年九月四日期間認購總額為174,250,000港元之基金參與份額，有關 認購已 ...

FF301 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8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 興證國際金融集團有限公司 (於開曼群島註冊成立之有限公司) 呈交日期: 2025年9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) | 06058 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.1 HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.1 HKD | | 2,000,000 ...