Core Viewpoint - The Chinese market holds immense development potential, characterized by creativity, innovation, and vitality, positioning it as a global leader in various industries. Galaxy Corporation emphasizes the importance of the Chinese market in its global strategy and plans to collaborate with strategic partner Juying Legend to explore opportunities in IP, AI, and robotics [1]. Group 1: Company Strategy - Galaxy Corporation aims to innovate industry experiences by integrating entertainment IP with cutting-edge technology, particularly focusing on the Chinese market as a crucial part of its global strategy [1]. - The company plans to establish a joint venture, Galaxy China, with Juying Legend to jointly explore the market in areas such as IP, AI, and robotics [1]. - CEO Choi Yong-hoo highlights the potential of combining Juying Legend's IP resources, including Jay Chou, with Galaxy's star IPs like G-DRAGON and Song Kang-ho for future collaborations [2]. Group 2: Future Outlook - Choi anticipates a future where everyone will have access to robots, indicating significant potential for personalized services in the AI and robotics sectors over the next 5 to 10 years [2]. - The collaboration between Galaxy and Juying Legend aims to leverage China's hardware manufacturing capabilities alongside Korea's software content strengths to expand into broader international markets [2]. - Juying Legend's investment in Galaxy, acquiring up to 7% of its issued share capital, positions it as a strategic partner, facilitating deeper cooperation in both the Chinese and global markets [3]. Group 3: Industry Context - The deepening economic cooperation between China and South Korea is highlighted, with a focus on emerging fields such as high-end manufacturing, AI, and green industries, which encourages multi-level economic exchanges [3]. - Analysts note that Juying Legend's investment in Galaxy connects it to a pool of top international IP resources, enhancing its growth potential in 2026 as cultural cooperation between China and South Korea improves [4]. - Juying Legend's strategic upgrade from an "IP operator" to a "global IP ecosystem builder" is supported by the collaboration with Galaxy, providing multidimensional growth drivers [4].

Core Viewpoint - The Chinese market holds immense development potential, characterized by creativity, innovation, and vitality, positioning it as a global leader in various industries. Galaxy Corporation's CEO emphasizes the importance of the Chinese market in the company's global strategy and plans to collaborate with strategic partner Superstar Legend to explore opportunities in IP, AI, and robotics [1]. Group 1: Company Overview - Galaxy Corporation is a South Korean entertainment technology company that boasts a roster of top-tier artists, including G-DRAGON, Song Kang-ho, and Kim Jong-kook. The CEO describes the company's development stages using the keywords "today," "tomorrow," and "the day after tomorrow" [5]. - The "today" business focuses on IP, where the combination of entertainment and technology is emerging as a significant field with vast market potential. The CEO highlights the potential for collaboration between Galaxy's star IPs and those of Superstar Legend, which owns the Jay Chou IP [5]. Group 2: Strategic Collaboration - Galaxy Corporation plans to establish a joint venture, Galaxy China, with Superstar Legend to deepen cooperation in IP, AI, and robotics, aiming to expand market reach [1][5]. - In November 2025, Superstar Legend announced its investment in Galaxy, acquiring up to 7% of the issued share capital, thereby becoming a strategic shareholder and partner. This collaboration is expected to facilitate deeper cooperation in the Chinese market and globally [6]. Group 3: Market Insights - The CEO expresses a strong belief in the potential of the Chinese market, stating that the strategy prioritizes stability over speed, with local partnerships being crucial for successful market entry [6]. - Analysts note that Superstar Legend's investment in Galaxy systematically links it to a pool of international top-tier IP resources. As cultural cooperation between China and South Korea improves, the collaboration in IP operations and AI+robotics is expected to significantly expand business growth opportunities by 2026 [7].

当前，中韩经贸合作正不断深化。商务部近日表示，将深挖高端制造、人工智能、绿色产业、银发经济 等新兴领域合作潜力，鼓励两国开展多层级、多形式的经贸交流，不断做大中韩共同利益蛋糕。在此背 景下，Galaxy与中国企业巨星传奇的深度合作成为行业关注焦点。 崔龙湖多次表达对中国市场潜力的坚定看好，并指出Galaxy的中国策略是"重视稳定性胜过速度"，本地 合作伙伴是实现稳健落地的关键。他表示，与巨星传奇这样的战略伙伴合作，"可降低进入中国市场的 门槛，对于公司体系化进入中国市场大有帮助"。 分析人士指出，巨星传奇通过投资Galaxy，已系统性地链接了国际顶级IP资源池。随着中韩文化合作环 境进一步改善，以及公司与Galaxy在IP运营、AI+机器人等具体业务上的合作深化，其2026年的业务增 长空间有望显著扩大。巨星传奇从"IP运营者"向"全球IP生态构建者"的战略升级，正获得更多维度的动 力支撑。 在描绘公司"明天"的重点领域——AI和机器人产业时，崔龙湖认为，未来5到10年将进入人人拥有机器 人的时代，个性化服务潜力巨大。他透露，Galaxy正与巨星传奇共同推进AI及机器人相关业务，并分析 称："中国的硬件制造实 ...

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12月31日 狀態: 新提交 | 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) | 06683 | 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 | USD | | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | 本月底法定/註冊股本總額： USD 50,000 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存 ...

Group 1 - The top three companies with the highest short-selling ratios are Cheung Kong (00001), CLP Holdings (00002), and Hong Kong and China Gas (00003), all reporting a short-selling ratio of 0.00% [1][2] - The top three companies by short-selling amount are also Cheung Kong (00001), CLP Holdings (00002), and Hong Kong and China Gas (00003), with amounts not specified [1][2] - The companies with the highest deviation values are Energy and Energy Global (01142), Hu Shang Ayi (02589), and China Shipbuilding Defense (00317), with deviation values of -0.41%, -0.41%, and -0.66% respectively [1][2] Group 2 - The top ten short-selling ratios include Cheung Kong (00001), CLP Holdings (00002), and Hong Kong and China Gas (00003), all at 0.00%, with significant negative deviation values [2] - The top ten short-selling amounts also feature Cheung Kong (00001), CLP Holdings (00002), and Hong Kong and China Gas (00003), all at 0.00% short-selling ratio and notable negative deviation values [2] - The top ten companies with the highest deviation values include Energy and Energy Global (01142), Hu Shang Ayi (02589), and China Shipbuilding Defense (00317), with deviation values indicating a decline compared to their average short-selling ratios over the past 30 days [2][3]

Group 1 - The 2025-2026 Zhejiang TV New Year's Eve Gala will be held in Quzhou Sports Center, featuring a 4K HDR live broadcast and a creative stage design that emphasizes unity and warmth [1] - The brand "Modong," under Giant Star Legend (6683.HK), will be a special supporting brand for the gala, showcasing its long-standing partnership with Zhejiang TV [1][3] - The original IP "WAKAEMO" will make its debut at the gala, representing a significant expansion of the company's IP ecosystem [1][3] Group 2 - Modong brand focuses on "scientific weight management" and has established a strong market reputation, winning the "Jiangsu Province High-Profile Trademark" award in 2024 [2] - Modong coffee has maintained its leading position in China's bulletproof beverage market for five consecutive years from 2020 to 2024, according to Zhi Shi Consulting [2] - The brand is set to launch the MODONG MAGIC series in March 2025, promoting health management in daily life [2] Group 3 - The collaboration with Zhejiang TV for the New Year's Eve gala represents a strategic upgrade for Modong, enhancing its public perception as a trusted advocate for healthy living [3][4] - The integration of health and trendy elements into the gala aims to further solidify Modong's market positioning as a "happiness experience ecosystem operator" [4] - The partnership with Zhejiang TV allows for a deep fusion of quality health branding, emotional connection through original IP, and a significant cultural moment for the audience [4]

Group 1: Food and Beverage Industry - The report indicates a gradual recovery in the food and beverage sector, with soft drinks and snacks leading the recovery, followed by the catering supply chain, condiments, dairy products, beer, and finally, liquor [2][9][10] - The analysis draws parallels with Japan's 1990s consumption differentiation, highlighting that successful industries often address demand pain points and have low penetration rates [10][11] - Investment strategies focus on sectors with stabilizing ROA and potential valuation recovery, emphasizing price as the primary selection logic, while volume is secondary [11][12] Group 2: Construction and Building Materials - The construction sector is expected to experience a "spring rally" in 2026, supported by historical investment patterns and major national projects [13][14] - The report highlights three core investment themes: major national projects, high-dividend low-valuation state-owned enterprises, and private construction firms leveraging cash flow for new growth areas [14][15] - Infrastructure investment data shows a decline in both narrow and broad infrastructure investment, indicating a need for policy support to stabilize the sector [15][16] Group 3: Real Estate Industry - The real estate sector continues to face pressure, with significant declines in new housing sales and investment, despite government efforts to promote high-quality development [18][20] - The report notes that the Ministry of Housing and Urban-Rural Development emphasizes maintaining a balance in supply and demand, which is crucial for economic stability [20][22] - Specific data indicates a 31.4% year-on-year decline in real estate development investment and a 26.1% drop in sales revenue, highlighting ongoing challenges in the market [20][21] Group 4: Electronics and Robotics - The report on Changying Precision emphasizes the introduction of employee stock ownership and stock option plans to enhance long-term development confidence and attract core talent [23][24] - The company is positioned as a leader in solder paste printing equipment, with a focus on high-end product demand driven by AI trends [33][34] - New product lines, including dispensing and packaging equipment, are expected to contribute to growth, with significant revenue increases anticipated [34][36] Group 5: Media Industry - The report on Giant Legend highlights the rapid growth of its IPs, particularly the "Zhou Classmate" and "Liu Genghong," which have gained substantial popularity on social media platforms [28][29] - The company is expanding its strategic investments to enhance collaboration with international stars and develop consumer products linked to its IPs [29][30] - Future growth is expected through a diversified approach that integrates emotional value into various products and experiences, positioning the company as a "disseminator of happiness" [30][31] Group 6: Mechanical and Building Materials - The report on Kaige Precision Machine outlines the company's leadership in solder paste printing equipment and its expansion into new product categories driven by AI [33][34] - The company is expected to see significant growth in its new product lines, including flexible automation equipment, which are crucial for enhancing manufacturing efficiency [34][36] - Profit forecasts indicate strong growth potential, with expected net profits increasing significantly over the next few years [36]

Core Viewpoint - Company aims to integrate the emotional value of IP into diverse physical scenarios and innovative products, transitioning from an "IP creator and operator" to a "disseminator of happiness" [1][2] Group 1: Growth and IP Development - The "Zhou Classmate" IP, designed based on Jay Chou, has gained over 48 million followers on Kuaishou through the production of the reality show series "Zhou You Ji" [1] - The "Liu Genghong" IP was incubated in 2021, leveraging the pandemic-driven demand for home fitness, resulting in a tenfold increase in followers on Douyin from April to May 2022, adding nearly 60 million followers [1] - The launch of the core product "Magic Coffee" in April 2019, which achieved sales of 550,000 boxes and revenue of 333 million yuan in Q2 2020, marking a 363% year-on-year growth [1] Group 2: Strategic Investments and Partnerships - Investment in Galaxy Corporation, acquiring up to 7% of its issued share capital, opens channels for collaboration with globally influential artists [2] - Acquisition of 1.17% stake in the National Stadium (Bird's Nest) positions the company as the only private shareholder, allowing deeper involvement in IP derivative business within the venue [2] - Partnership with Yuzhu Technology to develop consumer-grade IP robots, resulting in 6,000 orders worth over 120 million yuan [2] Group 3: Future Revenue Projections - Revenue forecasts for 2025-2027 are projected at 795 million, 1.113 billion, and 1.553 billion yuan, with year-on-year growth rates of 36.2%, 40.0%, and 39.5% respectively [3] - Current stock price corresponds to a PE ratio of 58, 41, and 31 for the years 2025, 2026, and 2027 [3]

Core Viewpoint - Company aims to transition from an "IP creator and operator" to a "disseminator of happiness," integrating emotional value of IP into diverse physical scenarios and innovative products to create tangible and perceptible experiences for users [1][4] Group 1: IP Development and Growth - The "Zhou Classmate" IP, inspired by Jay Chou, has gained significant traction, with over 48 million followers on its official account on Kuaishou [2] - The "Liu Genghong" IP was successfully developed during the pandemic, leading to a tenfold increase in followers on Douyin, adding nearly 60 million new fans from April to May 2022 [2] - The launch of the core product "Magic Coffee" in April 2019, linked to the Zhou Chou IP, saw sales reach 550,000 boxes and revenue of 333 million yuan in Q2 2020, marking a 363% year-on-year increase [2] Group 2: Strategic Investments and Collaborations - Company invested in Galaxy Corporation, acquiring up to 7% of its issued share capital, opening channels for collaboration with international stars [3] - The acquisition of a 1.17% stake in the National Stadium (Bird's Nest) positions the company as the only private shareholder, allowing deeper involvement in IP derivative business within the venue [3] - Collaboration with Hangzhou Yushu Technology aims to commercialize consumer-level IP robots, with 6,000 orders valued at over 120 million yuan already secured [3] Group 3: Future Outlook and Revenue Projections - Company is expected to achieve total revenues of 795 million, 1.113 billion, and 1.553 billion yuan for the years 2025, 2026, and 2027, with year-on-year growth rates of 36.2%, 40.0%, and 39.5% respectively [5] - Current stock price corresponds to a PE ratio of 58, 41, and 31 for the years 2025, 2026, and 2027 [5]

Group 1 - The article highlights the top short-selling ratios, with three companies showing a short-selling ratio of 0.00% [1][2] - The top three companies by short-selling amount are listed, but specific amounts are not provided [1][2] - The companies with the highest deviation values are identified, with values of -0.37%, -0.41%, and -0.69% for the respective companies [1][2] Group 2 - The top ten short-selling ratios are presented, all showing a ratio of 0.00% [2] - The top ten short-selling amounts are also listed, with no specific amounts provided [2] - The top ten deviation values are detailed, with the lowest being -19.38% [2]