Core Viewpoint - The announcement by Giant Legend (06683) highlights a significant sales contract with Adata Technology for the procurement of 1,000 quadruped robots, valued at over RMB 20 million, marking a substantial advancement in the IP commercialization of quadruped robots [1] Group 1 - The sales contract was signed between Giant Legend's subsidiary, Giant Cultural Intellectual Property (Hong Kong) Limited, and Adata Technology, with Adata acting as the distributor for the quadruped robots [1] - The product's technical and hardware development, as well as related application programming, will be managed by Yushu Technology, with testing expected to be completed this year and mass production slated for early next year [1] - The signing of the sales contract signifies a tangible progress in the IP development of quadruped robots, enhancing the company's ability to expand the application boundaries of its IP and improve monetization capabilities [1] Group 2 - The board believes that the contract will promote stable sales of IP-related products in the company's daily operations, aligning with the company's future development strategy [1]

智通财经APP讯，巨星传奇(06683)发布公告，于2025年11月3日(交易时段后)，巨星文创智权(香港)有限 公司及威刚科技股份有限公司订立销售合同，据此威刚科技作为经销商向巨星文创采购1000台四足机器 人，总价超过人民币2000万元。 董事会认为签订销售合同将有利于促进集团日常业务中IP相关产品的稳定销售，与集团的未来发展吻 合。 集团作为领先的IP创造与运营商，长期致力于拓展IP的价值边界与呈现形式。销售合同的签署标志着集 团在四足机器人IP化领域取得实质性进展，推动了四足机器人产品的IP化及商业化落地，进一步拓宽公 司IP的应用边界，增强IP的产业延展与变现能力，符合公司在IP业务战略的发展方向。 宇树科技将负责该产品的技术、硬件研发及生产，和相关应用程式的研发等。该产品预期今年完成测 试，并于明年初量产。 ...

宇树科技将负责该产品的技术、硬件研发及生产，和相关应用程式的研发等。该产品预期今年完成测 试，并于明年初量产。威刚科技为一间根据中国台湾法律成立的公司，于中国台湾证券交易所上市(股 票代号：3260)，其主要从事记忆体与储存产品、AI与工业应用、绿色能源创新及文化创意事业。 格隆汇11月4日丨巨星传奇(06683.HK)发布公告，2025年11月3日，巨星文创智权(香港)有限公司("巨星 文创"，为公司全资附属公司)及威刚科技股份有限公司("威刚科技")订立销售合同，据此威刚科技作为 经销商向巨星文创采购1000台四足机器人("该产品")，总价超过人民币2000万元。 公告表示，集团作为领先的IP创造与运营商，长期致力于拓展IP的价值边界与呈现形式。销售合同的签 署标志着集团在四足机器人IP化领域取得实质性进展，推动了四足机器人产品的IP化及商业化落地，进 一步拓宽公司IP的应用边界，增强IP的产业延展与变现能力，符合公司在IP业务战略的发展方向。董事 会认为签订销售合同将有利于促进集团日常业务中IP相关产品的稳定销售，与集团的未来发展吻合。 ...

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 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。 Star Plus Legend Holdings Limited 巨星傳奇集團有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股 份 代 號：6683） 自願公告 四足機器人銷售合同 董事會認為簽訂銷售合同將有利於促進本集團日常業務中IP相關產品的穩定 銷 售，與 本 集 團 的 未 來 發 展 吻 合。 訂約方資料 茲提述本公司日期為2025年7月30日 的 公 告（「該公告」），據 此 本 公 司 擬 與 宇 樹 科 技共同打造具有較強IP屬 性 的 消 費 級 機 器 人 產 品。除 非 另 有 界 定，本 公 告 所 用 詞 彙 應 與 該 公 告 所 界 定 者 具 有 相 同 涵 義。 銷售合同 本 公 司 董 事 會（「董事會」）欣 然 宣 佈 ...

Core Insights - The company has seen a significant increase in stock price, rising by 12.36% in the afternoon trading session [1] - The company has become a strategic shareholder of Galaxy, a well-known South Korean talent agency [1] Company Developments - The partnership with Galaxy marks a strategic move for the company, potentially enhancing its market position in the entertainment industry [1] - The investment in Galaxy may provide the company with access to new talent and opportunities within the South Korean market [1]

Core Viewpoint - The company, 巨星传奇, has become a strategic shareholder of the well-known South Korean talent agency Galaxy, acquiring up to 7% of its issued share capital through an industry fund, which is expected to enhance its global IP layout and create various synergistic benefits [1] Group 1: Investment Details - The company has invested $8 million to acquire a 16% stake in the industry fund that holds the shares of Galaxy, with the remaining equity held by two independent third parties [1] - The initial delivery of the investment has been completed, marking a significant step in the company's strategic expansion [1] Group 2: Strategic Collaboration - The company anticipates multiple collaborative opportunities with Galaxy, including but not limited to hosting exhibitions, concerts, and developing artist IP and derivative products [1] - Galaxy represents globally influential artists such as 权志龙, 金钟国, and 宋康昊, which enhances the potential for successful collaborations [1] Group 3: Market Reaction - Following the announcement, the stock of 巨星传奇 surged by over 12%, indicating positive market sentiment regarding this strategic move [1]

Market Overview - Hong Kong stocks opened positively in November, with major indices rising, and the Hang Seng Index closing at 26,158.36 points, up 0.97% or 251.71 points, with a total turnover of HKD 228.68 billion [1] - The Hang Seng China Enterprises Index increased by 0.98% to 9,258.73 points, while the Hang Seng Tech Index rose by 0.24% to 5,922.48 points [1] Blue Chip Performance - Chow Tai Fook (01929) led the blue-chip decline, falling 8.67% to HKD 13.9, impacting the Hang Seng Index by 4.04 points [2] - AIA Group (01299) rose 5.96%, contributing 75.25 points to the index, while Wanzhou International (00288) increased by 4.69%, adding 4.62 points [2] Sector Performance Technology Sector - Technology stocks showed mixed results, with Alibaba down 1.15% and Tencent down 0.16%, while Kuaishou rose 1.52% [3] Oil Sector - Oil stocks experienced a broad increase, with China National Offshore Oil Corporation (00883) up 3.49% and China Petroleum (00857) up 3.37%, following OPEC+'s announcement to pause production increases in early 2024 [3] Coal Sector - Coal stocks generally rose, with China Qinfa (00866) up 7.53% and Yanzhou Coal (01171) up 4.69%, driven by seasonal demand and safety production assessments [4] AI Application Sector - AI application stocks were active, with Fenbi (02469) surging 10.36% after announcing a share buyback plan, reflecting strong market interest in AI education products [4][10] Gold and Jewelry Sector - Gold mining and jewelry stocks fell sharply, with Chow Tai Fook down 8.67% and Lao Pu Gold (06181) down 7.16%, following new tax policies affecting gold trading [6] Automotive Sector - The automotive sector showed varied performance, with XPeng Motors (09868) up 4.59% and NIO (09866) up 4.21%, supported by strong October delivery figures for new energy vehicles [7] Notable Stock Movements - Minglue Technology (02718) debuted with a significant rise of 106.1%, closing at HKD 290.6, indicating strong investor interest in data intelligence applications [8] - WuXi AppTec (02126) surged 16.09% due to positive developments regarding its CAR-T cell therapy's inclusion in commercial health insurance [9]

Group 1 - Galaxy Corporation achieved a significant performance turnaround in the first half of 2025, with sales reaching 1.26 trillion KRW and net profit of 130 billion KRW, doubling sales compared to the entire year of 2024 [1] - The company's valuation has risen to 1 trillion KRW, bolstering its confidence and preparation for listing on the KOSDAQ in 2026 [1] - Strategic investments from major players like ADATA Technology and the Hong Kong-listed company Superstar Legend, totaling 50 million USD, highlight Galaxy's growing importance in the AI entertainment technology sector [1] Group 2 - Superstar Legend, known for its IP creation and operation, has developed two major IPs, "Zhou Classmate" and "Coach Liu," which collectively have a fan base of 280 million, making them significant forces in the global cultural entertainment industry [3] - The "Zhou Classmate" IP has collaborated with over 200 brands since its launch in 2019, generating over 1 billion CNY in sales from licensed products [3] - The partnership between Galaxy and Superstar Legend is expected to enhance brand influence and recognition in international markets, creating more global collaboration opportunities [3]

Core Viewpoint - The announcement by Superstar Legend (06683.HK) regarding its acquisition of up to 7% of the issued share capital of the South Korean talent agency Galaxy has significantly boosted market enthusiasm, leading to a notable increase in the company's stock price and market capitalization [1][2]. Company Summary - Superstar Legend has invested $8 million to acquire a 16% stake in the industry fund that holds the shares of Galaxy, with the first delivery of shares successfully completed [1]. - Galaxy, established in August 2019, is a comprehensive entertainment company in South Korea, involved in traditional talent management as well as innovative fields like metaverse virtual image creation and content production for variety shows [1][2]. - The strategic partnership with Galaxy is expected to bring various synergistic benefits, including collaboration on exhibitions, concerts, and the development of artist IP and related products [2]. Financial Performance - For the first half of the fiscal year ending June 30, 2025, Superstar Legend reported revenue of 355 million yuan, a 33% increase from 267 million yuan in the same period last year, although net profit fell by 58.9% to 10.27 million yuan [2]. - Revenue from IP creation and operation decreased by 8.9% to 144 million yuan compared to the previous year [2]. Market Reaction - The stock price of Superstar Legend surged by 14.3% following the announcement, with a peak increase of 12.7% during trading, bringing the share price to 9.85 HKD and the market capitalization to 8.8 billion HKD [1][4]. - Previous market reactions to the company's announcements, such as Jay Chou's entry into Douyin and the launch of the "Superstar Dog," have also resulted in significant stock price increases, indicating strong market sensitivity to the company's developments [3]. Industry Context - The Chinese IP industry has reached a scale of hundreds of billions, with product licensing being a major model, capable of leveraging over 25 times the gross merchandise value (GMV) from unit licensing fees [3]. - Compared to developed countries like the US and Japan, China's IP licensing industry still has considerable growth potential, particularly for celebrity IPs like those associated with Jay Chou, which have strong commercial viability and fan bases [3].

Core Viewpoint - The announcement of a partnership between Giant Star Legend and Galaxy has led to a significant stock price increase, but the long-term investment potential in celebrity concept stocks remains questionable [1]. Group 1: Company Announcement and Market Reaction - Giant Star Legend announced it will acquire up to 7% of Galaxy, a well-known South Korean talent agency, leveraging the popularity of its star Jay Chou [1]. - Following the announcement, Giant Star Legend's stock price surged over 14%, opening 8% higher on the day of the news [1]. - The collaboration is seen as a major draw due to the combined star power of both companies, with Galaxy managing high-profile artists like G-Dragon and Song Kang-ho [1]. Group 2: Historical Stock Performance - Giant Star Legend's stock previously experienced two notable surges: first in early July when it rose from 5 HKD to 17 HKD due to Jay Chou's entry into Douyin, and again in late July when it partnered with Yushutech to develop IP-based consumer robots, although the latter did not sustain its gains [2]. - Other celebrity concept stocks in the Hong Kong market include Lehua Entertainment, which saw its stock double this year, and Grass Sister Group, which has seen a significant decline from its peak price of 4.9 HKD to around 1.2 HKD [3]. Group 3: Industry Insights and Risks - The involvement of top-tier celebrities in Hong Kong stocks offers more diversification compared to A-shares, but these stocks are often seen as financing platforms for entertainment companies rather than viable long-term investments [4]. - The performance of these stocks is heavily tied to the popularity of the celebrities involved, creating a risk of significant downturns if a celebrity's public image falters or their popularity wanes [4].