Core Viewpoint - The company, Shengye (06069.HK), has announced a placement agreement with Guotai Junan International to issue up to 56.286 million shares at a price of HKD 10.66 per share, aiming to raise approximately HKD 600 million for various strategic initiatives [1]. Group 1: Placement Details - The maximum number of shares to be placed represents approximately 5.58% of the existing issued share capital as of the announcement date [1]. - If all shares are fully placed, the total proceeds from the placement will be around HKD 600 million, with net proceeds estimated at approximately HKD 593 million [1]. Group 2: Use of Proceeds - The net proceeds will primarily be used for the development of innovative technologies such as AI Agents, aimed at creating a global supply chain technology platform [1]. - The company plans to utilize the funds for international expansion and strategic investments to build a global supply chain service network [1]. - Additional uses of the proceeds include general working capital [1].

假设根据配售协定配售最高数目配售股份，配售所得款项总额将约为6亿港元，净筹约5.93亿港元，拟 用于AI Agent等创新技术研发，国际化扩张及战略投资及其他一般营运资金用途。 盛业(06069)公布，于2025年9月3日(交易时段前)，该公司与配售代理订立配售协定，据此公司已委任配 售代理按尽力而为基准促使不少于6名承配人按每股配售股份10.66港元的价格认购最多5628.6万股配售 股份。配售价较联交所于2025年9月2日(即最后交易日期)所报每股股份收市价11.23港元折让约5.08%。 ...

Core Viewpoint - The company, Shengye (06069), has entered into a placement agreement to issue up to 56.286 million shares at a price of HKD 10.66 per share, representing a discount of approximately 5.08% from the last closing price of HKD 11.23 on September 2, 2025 [1] Group 1 - The total amount raised from the placement, assuming the maximum number of shares is issued, will be approximately HKD 600 million, with net proceeds expected to be around HKD 593 million [1] - The funds raised will be allocated for the development of innovative technologies such as AI Agents, international expansion, strategic investments, and general working capital [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 明 確 表 示，概 不 對 因 本 公 告 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。 本公告僅供參考，並不構成收購、購買或認購本公司任何證券的邀請或要約。 SY HOLDINGS GROUP LIMITED 盛業控股集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：6069） 根據一般授權配售新股份 配售代理 配 售 於2025年9月3日（交 易 時 段 前），本 公 司 與 配 售 代 理 訂 立 配 售 協 定，據 此 本 公 司 已 委任配售代理按盡力而為基準促使不少於6名承配人按每股配售股份10.66港 元 的價格認購最多56,286,000股配售股份。 於 本 公 告 日 期，本 公 司 已 發 行 股 份 數 目 為1,008,518,792股。配 售 項 下 最 高 數 目 56,286,000股配售股份佔(i)於本公告日期本公司現有已發行股本約5.58%；及(ii) 因 配 發 及 發 行 全 部 配 ...

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: 盛業控股集團有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2025年9月2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) | 06069 | 說明 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | 5,000,000,000 | HKD | | 0.01 HKD | | 50,000,000 | | 增加 / 減少 (-) | | | 0 | | HKD | | | | 本月底結存 | | 5,000,000,000 | HKD | | 0.01 HKD | | 50,000,000 | 本月底法定/註冊股本總額： HKD 50,0 ...

Core Viewpoint - The company is undergoing a platform transformation, with a significant increase in revenue from inclusive matching services, AI technology commercialization, and a rising e-commerce segment driving growth [1][2][3] Group 1: Financial Performance - The company reported a main business revenue of 4.05 billion RMB, a year-on-year decrease of 7.10%, while the net profit attributable to shareholders was 2.00 billion RMB, an increase of 28.66% [1][2] - The platform technology service revenue reached 2.11 billion RMB, reflecting a year-on-year increase of 36.95%, with a total fund turnover of 2,780 billion RMB, up 28.7% [1][2] - The company adjusted its revenue forecasts for 2025 to 2027 to 10.94 billion, 11.88 billion, and 12.50 billion RMB, with respective year-on-year changes of -6.81%, +8.63%, and +5.17% [1][3] Group 2: Business Development - The company is enhancing its platform model, with the matching business accounting for 88% of its operations and technology service revenue making up 51.50% [2] - The e-commerce segment has seen a nearly eightfold increase in fund matching scale to 2.8 billion RMB, covering six leading platforms [1][3] - The company is expanding into new sectors, including robotics and international markets, with partnerships established in Southeast Asia [3] Group 3: Research and Development - The company has invested approximately 2.7 billion RMB in R&D, with R&D personnel constituting about 30% of its workforce [3] - The average business volume handled per employee increased by 27%, and the sales scale of assisted clients surged by over 60% [3]

Group 1 - The company's operating revenue for H1 2025 is approximately 405 million yuan, a year-on-year decrease of 7.1%, primarily due to the shift from self-owned financing to technology integration platform financing [1] - The platform technology service revenue has shown strong performance, reaching about 211 million yuan, a year-on-year increase of 37.0%, accounting for over 50% of total revenue for the first time [1] - The net profit for the company is approximately 203 million yuan, a year-on-year increase of 22.9%, benefiting from AI technology cost reduction and the performance contribution from joint ventures [1] Group 2 - The company has achieved its first commercial success with AI Agent, generating 400,000 yuan in revenue by providing targeted bidding information and industry trend analysis [2] - The company has expanded its platform ecosystem, with over 19,100 cumulative clients as of June 30, 2025, a year-on-year growth of 14.4%, and a client retention rate exceeding 80% [2] - The total amount of supply chain assets processed by the company has reached 2.78 trillion yuan, a year-on-year increase of 28.7% [2] Group 3 - The company has issued over 2.8 billion yuan in loans in the e-commerce sector, an increase of nearly 8 times compared to the same period last year [3] - The company has formed a strategic partnership with a top global industrial mobile robot company, entering the 190 billion yuan Chinese robot market [3] - The company is actively expanding into strategic emerging industries such as e-commerce, robotics, and AI applications while continuing to focus on key national pillar industries [3] Group 4 - The company is expected to continue rapid growth in performance, focusing on innovative fields such as e-commerce, AI applications, and robotics [4] - Revenue forecasts for FY2025 are adjusted to 499 million yuan for digital financial solutions, 543 million yuan for platform technology services, and 49 million yuan for supply chain asset sales [4] - The projected net profit for the company for FY2025-FY2027 is 489 million yuan, 644 million yuan, and 826 million yuan respectively, with a target market capitalization of 19.32 billion yuan [4]

Group 1: AI Industry Insights - The report highlights the release of the "Artificial Intelligence+" action plan by the State Council, which aims to strengthen foundational support capabilities in AI, including innovation in AI chips and software ecosystem development [3] - The action plan is expected to provide long-term institutional guarantees for the development of the AI industry, addressing current bottlenecks such as insufficient computing power and low-quality data supply [3] - Companies to watch include those involved in AI technology and applications, such as Kingdee International, Meituan, and various players in AI education and healthcare [3] Group 2: Economic and Market Outlook - The "14th Five-Year Plan" emphasizes the need for a unified market to break local protectionism and promote efficient resource allocation [4] - The plan also aims to support consumer spending and upgrade consumption structures, indicating a shift in fiscal spending towards improving livelihoods [4] - The capital market reform during this period is expected to transition from policy-driven to institution-driven, promoting high-quality development of the capital market [4] Group 3: Aerospace Industry Developments - China's commercial aircraft market share exceeds 20%, with the C919 aircraft production capacity expanding, potentially breaking the Airbus and Boeing duopoly [4] - The demand for commercial engines in China is projected to exceed $600 billion over the next 20 years, with an average annual demand of over 200 billion RMB [4] - The report indicates that the domestic aerospace industry is likely to experience significant growth due to the focus on local market development and self-sufficiency [4] Group 4: Semiconductor Sector Performance - Changdian Technology reported a revenue of 18.605 billion RMB for the first half of 2025, reflecting a year-on-year growth of 20.14%, driven by increased domestic orders and market demand recovery [8][34] - The company's net profit decreased by 23.98% due to ongoing construction of new factories and rising financial costs, but gross margin improved from 12.6% to 14.3% [34][38] - The semiconductor industry is experiencing a recovery, with global sales expected to continue growing, providing opportunities for companies in this sector [36] Group 5: Consumer Electronics and Home Appliances - Wanhe Electric reported a revenue of 4.08 billion RMB in the first half of 2025, with overseas revenue growing by 26.5% while domestic revenue declined by 4.4% [16] - The company is focusing on digital transformation and cost optimization to enhance its competitiveness in both domestic and international markets [16] - The report anticipates steady growth in the home appliance sector, driven by innovations and expansion into overseas markets [16] Group 6: Automotive and New Energy Sectors - Tuhu-W reported a revenue of 7.877 billion RMB in the first half of 2025, with a year-on-year growth of 10.54%, driven by expansion into lower-tier cities [17] - The company is enhancing its supply chain and logistics efficiency, which has positively impacted its operational performance [17] - The new energy vehicle segment is emerging as a significant growth driver, with a notable increase in transaction users on the platform [17]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 21 HKD, representing a potential upside of over 20% from the current price of 13.04 HKD [3]. Core Insights - The company has demonstrated significant resilience in profitability, with a net profit of approximately 2.03 billion HKD in the first half of 2025, reflecting a year-on-year increase of 22.9% [1]. - The shift towards a light asset model has resulted in a notable increase in platform technology service revenue, which reached about 2.11 billion HKD, marking a 37.0% year-on-year growth and surpassing 50% of total revenue for the first time [1]. - The company has successfully commercialized its AI applications, generating 400,000 HKD in revenue from AI-driven order matching services in the first half of 2025 [2]. - The total number of clients on the platform has exceeded 19,100, representing a 14.4% year-on-year growth, with a client retention rate exceeding 80% [2]. - The company has established strategic partnerships in the robotics sector, aiming to penetrate the 1.9 trillion HKD Chinese robotics market [2]. Summary by Sections Financial Performance - The company's total revenue for the first half of 2025 was approximately 4.05 billion HKD, down 7.1% year-on-year due to the transition to a light asset model [1]. - The projected revenue for FY2025 is adjusted to 4.99 billion HKD for digital financial solutions, 5.43 billion HKD for platform technology services, and 490 million HKD for supply chain asset sales [3]. Business Strategy - The company is focusing on expanding its platform-based services in e-commerce, AI applications, and robotics, which are expected to drive future growth [3]. - The company has committed to maintaining a high dividend payout ratio of no less than 90% for the years 2024-2026, with total dividends expected to approach 9.5 billion HKD in 2025 [1]. Market Position - The company has increased its funding partners to 181, a 31.2% year-on-year growth, highlighting the effectiveness of its light asset operational model [2]. - The company has made significant strides in the e-commerce sector, with total loans exceeding 2.8 billion HKD, an increase of nearly 800% year-on-year [2].

Core Viewpoint - The company Shengye (6069.HK) has successfully launched the first supply chain asset tokenization project in the Asia-Pacific region on the HashKey Chain, marking a significant milestone in its strategy to integrate AI with international supply chain technology [1] Group 1: Company Developments - Shengye's stock price surged nearly 13% to reach a historical high of 14.71 HKD during trading [1] - The company has established a shelf size of 100 million USD for the initial phase of the RWA tokenization project, which will be issued in tranches using multiple currencies and stablecoin settlements [1] - The project is linked to high-quality supply chain assets across various industry sectors, including e-commerce, within Shengye's supply chain technology platform [1] Group 2: Strategic Implications - The successful launch of the RWA tokenization project aligns with Shengye's global expansion strategy and its goal to create an "AI + international supply chain technology platform" [1] - This initiative is expected to accelerate the transformation of "real asset certainty" into "on-chain value configurability" [1] - The project has garnered positive subscriptions from international investors, indicating strong market interest and confidence in the company's offerings [1]