New IPOs - The largest biotech IPO in Hong Kong for 2025 is initiated by Insilico Medicine (03696), which boasts the fastest global progress in AI drug development [1] - Lin Qingxuan (02657) will conduct its IPO from December 18 to December 23, attracting cornerstone investors like Fidelity [1] - Woan Robotics (06600) is set to launch its IPO during the same period, with an expected listing date of December 30 [1] - Meilian Holdings (02671) and Wuyi Vision (06651) will also hold their IPOs from December 18 to December 23, both expected to list on December 30 [1] - Xun Ce (03317) will follow the same IPO schedule, with a listing anticipated on December 30 [1] - Zhihui Mining (02546) achieved a remarkable 5248.15 times subscription in its public offering, with a listing date of December 19 [1] - China National Airlines (00753) plans to invest in Shenzhen Airlines' equity financing, with Kunhang Investment, a state-owned entity, being shortlisted [1] - Sensetime-W (00020) intends to place 1.75 billion new Class B shares, aiming to raise approximately HKD 3.146 billion [1] - Fosun Pharma (02196) is enhancing its overseas innovative drug strategy by signing a cooperation and option agreement with Clavis Bio [1] - WuXi AppTec (02359) invested around EUR 30 million to acquire a 3.22% stake in a French biopharmaceutical fund [1] - Minhua Holdings (01999) plans to acquire 100% equity in the American soft furniture company Gainline Recline Intermediate Corp [1] Share Buybacks - Tencent Holdings (00700) repurchased 1.055 million shares for HKD 636 million on December 18 [2] - Xiaomi Group-W (01810) spent HKD 151 million to buy back 3.75 million shares on the same day [2] - COSCO Shipping Holdings (01919) repurchased 5.9 million shares for HKD 80.557 million [2] - Country Garden Services (06098) bought back 2.7 million shares for HKD 17.136 million [2] - Jiangsu Ninghu Expressway (00177) saw an increase of 52.862 million shares by Yunsong Capital [2]

2025年12月18日，知名全球游戏发行商贪玩(9890.HK)发布公告，宣布发行总规模为4.68亿港币(约6,000 万美金)的零息可转换债券。本次募集资金将专项用于AI相关产业的战略性布局与投资，为公司全面加 速推进"AI+游戏"战略提供长期资本支持，助力公司构建未来核心竞争力。 高转股溢价彰显市场信心，战略融资支持长期发展 根据公司与独家配售代理德意志银行及认购方LMR基金签署的认购协议，本次可转换债券的转换价格 为每股23.50港元。这一转换价格较协议签署前最后一个交易日收盘价17.00港元溢价约38.24%，较前五 个交易日平均收盘价16.59港元溢价约41.67%。本次发行成为自香港资本市场出现该类产品以来，历史 上溢价率最高的香港上市公司一年期可转债发行交易。 按此价格计算，全部债券可转换为19,914,804股新股份。悉数转股后，约占公司现有总股本的约 3.79%，及经发行扩大后股本的约3.65%。本次可转债在"高溢价+零息"条款下的成功发行，是国际投资 者支持公司于"AI+游戏"赛道持续投入的积极信号，体现了投资者对公司当前价值的认可，也传递出其 对企业长期战略与增长前景的坚定信心。 结语 ...

贪玩(09890)发布公告，于2025年12月18日，公司、配售代理及认购人(即LMR Multi-Strategy Master Fund Limited)就认购人认购公司将发行的本金总额为4.68亿港元的可换股债券订立协议，惟须遵守协议 所载条件。 假设可换股债券按初始转换价格每股转换股份23.50港元转换，则可换股债券将可转换为1991.48万股新 股份。转换股份占公司的现有已发行股份约3.79%(不包括库存股份)。初始转换价格每股转换股份23.50 港元较股份于协议日期前最后交易日在联交所所报收市价每股股份17.00港元溢价约38.24%。 公司将申请可换股债券在维也纳证券交易所运营的维也纳MTF上市。公司亦将向联交所上市委员会申 请批准可换股债券转换后可能发行的转换股份上市及买卖，且公司将遵守中国证监会规则，并完成与中 国证监会就发行可换股债券的备案工作。 发行可换股债券的所得款项总额将为4.68亿港元，而发行可换股债券的所得款项净额将约为4.586亿港 元。集团拟根据协议条款将所有所得款项净额用于AI相关业务投资及AI相关产业的股权投资，以加速 公司在"AI+游戏"领域的战略布局，惟须遵守上市规则 ...

格隆汇12月18日丨贪玩(09890.HK)发布公告，2025年12月18日，公司、配售代理(即德意志银行香港分 行)及认购人就认购人(即LMR Multi-Strategy Master Fund Limited)认购公司将发行的本金总额为4.68亿港 元的可换股债券订立协议，惟须遵守协议所载条件。 假设可换股债券按初始转换价格每股转换股份23.50港元转换，则可换股债券将可转换为1991.48万股新 股份。转换股份占公司的现有已发行股份约3.79%(不包括库存股份)。初始转换价格每股转换股份23.50 港元较股份于协议日期前最后交易日在联交所所报收市价每股股份17.00港元溢价约38.24%。转换股份 将根据一般性授权配发及发行。 发行可换股债券的所得款项总额将为4.68亿港元，而发行可换股债券的所得款项净额将约为4.586亿港 元。集团拟根据协议条款将所有所得款项净额用于AI相关业务投资及AI相关产业的股权投资，以加速 公司在"AI+游戏"领域的战略布局，惟须遵守上市规则的适用规定。 ...

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份內容而產生或 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，並非收購、購買或認購任何證券的邀請或要約，或訂立協議以進行任何該 等事宜的邀請，亦非旨在邀請任何要約以收購、購買或認購任何證券。 本公告並非亦不構成於美國（包括其領土和屬地、美國任何州份和哥倫比亞地區）出售證券的 要約或邀請。本公告或其任何內容或其副本亦不得攜進美國境內或於美國境內直接或間接派 發。除非有關證券根據證券法或美國的任何其他適用證券法律辦理登記或獲得豁免遵守證券 法或美國任何其他適用證券法律的登記規定，否則有關證券未曾亦不會根據經修訂的1933年 《美國證券法》（「證券法」）或美國任何其他適用證券法律登記，且不得於美國提呈發售、出售 或以其他方式轉讓。任何在美國提呈的證券公開發售必須由本公司刊發招股說明書，當中須 載列本公司及管理層以及財務報表的詳細資料。本公司並無計劃在美國公開發售任何證券。 Tanwan Inc. （ 於 開 曼 群 島 貪玩 註 冊 成 立 的 有 限 ...

Group 1 - The Hang Seng Index rose by 0.22%, gaining 55 points to reach 25,291 points, while the Hang Seng Tech Index increased by 0.02% with a trading volume of 84.8 billion HKD in the morning session [1] - Yichun City announced the cancellation of 27 mining rights, leading to a surge in lithium stocks, with Ganfeng Lithium rising over 6% and Tianqi Lithium increasing by over 5% [1] - Airlines showed strong performance in November's off-peak season, with Southern Airlines up over 7%, Eastern Airlines up over 5%, and Air China rising by 5% [1] Group 2 - Jiangxi International Resources saw a 6% increase as tungsten prices accelerated, reaching a historical high for tungsten concentrate [1] - Junda Co., Ltd. rose over 6% after its Chuzhou base achieved large-scale production of TOPCon batteries [1] - Changfei Optical Fiber and Cable increased by nearly 11% driven by AI computing power demand [2] Group 3 - Yaojie Ankang-B surged by 18% after announcing positive clinical results for Tiengatin in a sub-journal of The Lancet [3] - Li Ning rose by 4% with the launch of new Dragon Store and Honor Gold Standard product series, expected to create strong synergy [4] - Zhongjiao Holdings increased by 6% as its adjusted annual EBITDA exceeded expectations, with institutions focusing on subsequent classification registration progress [5] Group 4 - Tanwan rose over 4%, accumulating over 30% growth this month, partnering with COEXIST to expand its trendy toy industry layout [6] - Zhaoyan Pharmaceutical increased by over 10% as the price of experimental monkeys rose, with institutions expecting a tight supply-demand situation to persist [7] - Yidu International fell over 12% in the morning session, giving back most of its gains for the month, as Muxi Co., Ltd. listed on the Sci-Tech Innovation Board today [8]

Group 1 - The company, 贪玩 (09890.HK), experienced a significant increase in stock price, rising over 7% in early trading [1] - The cumulative increase for the month has exceeded 30% [1] - As of the latest update, the stock price is reported at 17.56 Hong Kong dollars, with a trading volume of 24.4488 million Hong Kong dollars [1]

Group 1 - The core viewpoint of the article highlights the significant stock price increase of Tanwan (09890), which rose over 7% in early trading and has accumulated a gain of over 30% this month, with the current stock price at 17.42 HKD and a trading volume of 26.6895 million HKD [5][6]. - On November 27, Tanwan's wholly-owned subsidiary focused on the trendy toy business signed a cooperation agreement with COEXIST Group to develop and promote derivative art products, integrating over 200 trendy toy artists for a five-year collaboration [5][6]. - This partnership signifies Tanwan's strategy to leverage its digital entertainment experience to expand its trendy toy industry layout and enhance its business ecosystem, marking a new chapter in the integration of classic IP and artist IP [5][6]. Group 2 - According to Guotai Junan Securities, Tanwan possesses multiple IP resources, including "Legend," "Douluo Dalu," and "Blood Legend," and has been actively exploring new avenues in recent years [5]. - Looking ahead, the company has a substantial product reserve in various IPs such as "Legend," "Miracle," "Blood Jianghu," "Douluo Dalu," and "Jin Yong's Martial Arts," which are expected to contribute to future performance growth [5].

Core Viewpoint - The company Tanwan, a wholly-owned subsidiary of 贪玩, has signed a five-year cooperation agreement with COEXIST Group to develop and promote derivative products from over 200潮玩 artists, indicating a strategic expansion into the潮玩 industry and enhancing its business ecosystem through the integration of classic IP and artist IP [1] Group 1 - 贪玩’s stock price increased by over 7% in early trading, with a cumulative increase of over 30% in the month [1] - As of the report, the stock price reached 17.56 HKD with a trading volume of 24.4488 million HKD [1] Group 2 - According to Guotai Junan Securities, 贪玩 possesses multiple IP resources including "Legend," "Douluo Dalu," and "Hot Blood Legend," and has been actively exploring new business avenues [1] - The company has a significant product reserve related to its IPs such as "Legend," "Miracle," "Hot Blood Jianghu," "Douluo Dalu," and "Jin Yong's Martial Arts," which is expected to contribute to future performance growth [1]

Core Viewpoint - The company 贪玩 (09890) has seen a significant increase in stock price, rising over 30% in the month, with a current price of 17.56 HKD and a trading volume of 24.44 million HKD [1] Group 1: Business Developments - On November 27, 贪玩’s subsidiary TANWAN signed a cooperation agreement with COEXIST Group to develop artist works, integrating over 200 toy artists for derivative product development, sales, and promotion over a five-year period [1] - This collaboration signifies 贪玩’s strategy to leverage its digital entertainment background to expand into the潮玩 (trendy toy) industry, enhancing its business ecosystem and initiating a new chapter in the integration of classic IP and artist IP [1] Group 2: Future Outlook - According to Guotai Junan Securities, 贪玩 possesses multiple IP resources, including 《传奇》 (Legend), 《斗罗大陆》 (Douluo Continent), and 《热血传奇》 (Hot Blood Legend), and has been actively exploring new avenues [1] - The company has a substantial product pipeline related to its IPs such as 传奇 (Legend), 奇迹 (Miracle), 热血江湖 (Hot Blood Jianghu), 斗罗大陆 (Douluo Continent), and 金庸武侠 (Jin Yong's Martial Arts), which is expected to contribute to future performance growth [1]