Core Viewpoint - The establishment of a joint venture, Jinteng Technology, between the company and Tencent Digital marks a pioneering move in the Chinese securities industry, enhancing the company's capabilities in digital operations and technology innovation [1] Group 1: Joint Venture and Collaboration - In June 2020, the company formed a joint venture with Tencent Digital to create Jinteng Technology, which is a specialized information technology subsidiary [1] - Jinteng Technology integrates the company's financial industry expertise with Tencent's user ecosystem and technological capabilities [1] Group 2: Technological Advancements - The joint venture aims to introduce leading digital concepts, technologies, and high-end technical talent to improve user experience and digital operations [1] - Jinteng Technology primarily provides wealth management and retail brokerage technology platform construction and digital operation support services for the company and its subsidiaries [1] Group 3: Industry Impact - The venture actively explores the provision of intelligent solutions and digital tools to the industry, contributing to the development of an efficient and inclusive financial service system [1]

Group 1 - The core viewpoint of the article indicates that the Chinese stock market has not yet shown typical bull market top signals, despite the impact of the "Wash Shock" on Chinese and US stocks and commodities [2][6] - The market remains supported by ample liquidity and marginal improvements in earnings, with no substantial changes in positive factors [2][6] - The long-term drivers of the market are identified as the restructuring of monetary order and trends in the AI industry, with a continued positive outlook on the revaluation of Chinese assets [2][6] Group 2 - Huabao Fund has launched three major broad-based ETFs tracking the China A50, A100, and A500 indices, providing investors with diverse options for exposure to the Chinese market [2][6] - The A50 ETF focuses on the top 50 core leading companies, while the A100 ETF encompasses the top 100 industry leaders [2][6] - The total trading volume in the market was 2.15 trillion yuan, a decrease of 305 billion yuan from the previous day, with a total of 2,550 stocks rising and 2,749 falling [1][6]

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。 本公告不適於向(i)在美國境內的任何人士或地址；或(ii)任何美國人士（如1933年美 國證券法S規例（經修訂）（「美國證券法」）所定義）派發。 本公告僅供說明用途，並不構成收購、購買或認購證券的邀請或要約。本公告亦不 構成招攬購買證券的邀請或要約。 本公告所述證券並無亦不會根據美國證券法或向美國任何州份的任何證券監管機 構或其他司法權區登記，而除非已根據美國證券法或所適用的州份或當地證券法的 登記規定取得相關豁免或交易不受限於該等登記規定，否則本公告所述證券不得在 美國境內發售或出售，或向美國人士或代其或以其利益發售或出售。 China International Capital Corporation Limited 中國國際金融股份有限公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：03908） 自願公告 根據一百億美元擔保中期票據計劃 發行 於二零二八年到期的550,000,00 ...

Core Viewpoint - The Shenzhen Stock Exchange's M&A Review Committee approved Qingdao Doublestar Co., Ltd.'s transaction to acquire assets through share issuance and cash payment, which meets restructuring conditions and information disclosure requirements [1][2]. Group 1: Transaction Details - Qingdao Doublestar plans to issue shares and pay cash to acquire assets, ultimately achieving a 45% stake in Kumho Tire Co., Inc. and controlling it [2][3]. - The total transaction price for the restructuring is approximately 4.93 billion yuan, with 99.94% paid in shares and 0.06% in cash [4][8]. - The independent financial advisor for the transaction is China International Capital Corporation [9]. Group 2: Financial Assessments - As of December 31, 2023, the assessed value of the total equity of the target assets is approximately 492.52 million yuan for Star Investment Fund and 493.01 million yuan for Star Micro International [4]. - A subsequent assessment as of June 30, 2025, indicated an increase in value for both Star Investment Fund and Star Micro International, with appreciation rates of 43.33% and 57.74%, respectively [5]. Group 3: Performance Commitments - The performance commitments for the target company include net profits of 226.89 billion won, 243.74 billion won, and 239.42 billion won for the years 2026 to 2028 [6]. Group 4: Funding and Regulatory Requirements - The company plans to raise up to 80 million yuan through a private placement to fund the transaction, with specific limits on the amount raised from individual investors [7]. - The transaction requires approval from the Shenzhen Stock Exchange and registration with the China Securities Regulatory Commission before implementation [2][7][8].

Core Viewpoint - The company, China International Capital Corporation (CICC), is expected to see significant profit growth in 2025, with net profit projected to increase by 50% to 85% compared to the previous year [3]. Company Overview - CICC is a state-owned enterprise controlled by Central Huijin Investment Ltd, and it operates under the category of "中字头" stocks, indicating its ties to central state-owned enterprises [3]. - The company was established on July 31, 1995, and went public on November 2, 2020. Its main business areas include investment banking, equity sales and trading, fixed income, commodities, wealth management, and investment management [6]. Financial Performance - For the period from January to September 2025, CICC reported revenue of 20.76 billion yuan, representing a year-on-year growth of 54.36%. The net profit attributable to shareholders was 6.57 billion yuan, showing a remarkable increase of 129.75% [7][8]. - The company has distributed a total of 5.36 billion yuan in dividends since its A-share listing, with 3.04 billion yuan distributed over the past three years [8]. Market Activity - On February 6, CICC's stock price decreased by 0.17%, with a trading volume of 618 million yuan and a turnover rate of 0.61%. The total market capitalization stood at 167.12 billion yuan [1]. - The stock has seen a net outflow of 78.58 million yuan from major investors today, with a total net outflow of 1.17 billion yuan over the past three days [4]. Technical Analysis - The average trading cost of CICC's shares is 36.01 yuan, with the current stock price fluctuating between a resistance level of 34.85 yuan and a support level of 34.12 yuan, indicating potential for range trading [5].

Core Viewpoint - The company, OBI Technology Group Co., Ltd. (奥比中光), has received approval from the Shanghai Stock Exchange for its application to issue A-shares to specific investors in 2025, pending final approval from the China Securities Regulatory Commission (CSRC) [1][5]. Summary by Sections Issuance Details - The company plans to raise a total of up to RMB 980 million (approximately 98,000 million) through this issuance, which will be allocated to projects including the development of an AI vision and spatial perception technology platform and the construction of an AI visual sensor and smart hardware manufacturing base [1][3]. - The total investment for the AI vision and spatial perception technology platform project is RMB 179,632.49 million, with RMB 85,788.10 million expected to be funded from the issuance. The AI visual sensor and smart hardware manufacturing base project has a total investment of RMB 19,033.12 million, with RMB 12,211.90 million planned from the issuance [3]. Issuance Mechanism - The issuance will be directed towards no more than 35 specific investors, including qualified institutional investors and natural persons, as per CSRC regulations. The pricing will be based on 80% of the average trading price over the 20 trading days prior to the issuance date [4]. - The maximum number of shares to be issued is capped at 120,343,272 shares, which is 30% of the company's total share capital prior to the issuance [4]. Control and Ownership - As of June 30, 2025, the company's total share capital is 401,099,840 shares, with the controlling shareholder, Huang Yuanhao, holding 27.15% directly and an additional 8.48% indirectly, totaling 35.64% of the voting rights [5][6]. - Post-issuance, Huang Yuanhao is expected to control 27.41% of the shares and 55.66% of the voting rights, ensuring that the control of the company remains unchanged [6]. Sponsorship - The issuance is sponsored by China International Capital Corporation Limited, with representatives Yang He and Peng Zhao Zhen overseeing the process [6].

Group 1 - The Shenzhen Stock Exchange's Listing Review Committee approved Shandong Chunguang Technology Group Co., Ltd. for IPO, marking the 18th company to pass the review in 2026 [1] - Chunguang Group specializes in the research, production, and sales of soft magnetic ferrite powder, and is expanding its product line to include soft magnetic ferrite cores and electronic components [1] - The company plans to publicly issue no more than 54,933,340 shares, accounting for at least 25% of the total share capital post-issue [1] Group 2 - Chunguang Group aims to raise 750.711 million yuan for projects including smart power magnetic materials, upgrading its R&D center, and supplementing working capital [2] - The company’s chairman, Han Weidong, directly holds 34.04% of the shares and indirectly controls 21.48% of the voting rights, totaling 55.52% [1] Group 3 - The Listing Committee raised questions regarding the market competition landscape for soft magnetic materials, changes in downstream market demand, raw material prices, and the sustainability of the company's performance growth [3] - Further clarifications are required on the sales volume and growth rate of soft magnetic ferrites in China, as well as the company's technological capabilities in high-performance soft magnetic materials [4]

Group 1 - The current spot gold price has dropped by 1.63%, falling below $4700 per ounce, while spot silver has decreased by 5.86%, reported at $66.55 per ounce, with a significant drop of over 20% yesterday [1][2] - Market analysts warn that both gold and silver are facing selling pressure in the short term, indicating that the price trends are not bullish [2][3] - The recent sell-off in precious metals is viewed as a market adjustment rather than a trend reversal, suggesting that prices may rise at a stable, non-linear pace rather than explosive growth seen in previous months [3] Group 2 - Analysts from various financial institutions believe that the current bull market for gold may continue for some time, despite potential headwinds, as the Federal Reserve's policies and the U.S. economy have not yet shown signs of a turning point [3] - There are two potential scenarios for the end of the current gold bull market: the Federal Reserve ending its rate-cutting cycle or significant advancements in the U.S. AI revolution that could boost economic growth and lower inflation [3] - Strategic recommendations include maintaining an overweight position in gold and taking advantage of market pullbacks to accumulate [3]

Group 1 - The three major indices narrowed their declines after initially dropping over 1%, with the North Stock 50 Index falling over 2% [1] - The total trading volume in the Shanghai and Shenzhen markets was 2.18 trillion, a decrease of 304.8 billion compared to the previous trading day [1] - Over 3,700 stocks in the market declined, while the consumer sector saw significant gains, particularly in food and beverage, retail, film and television, and tourism [1] Group 2 - CITIC Securities predicts faster profit growth in sectors such as aerospace, electricity, and non-ferrous metals based on industrial indicators [2] - The Industrial Prosperity Index, constructed using six industrial indicators, shows a strong correlation with profit growth in manufacturing companies [2] - The index indicates that over 60% of industry prosperity indices correlate with corresponding profit growth rates above 50% [2] Group 3 - Huatai Securities reports that the ongoing negotiations regarding Indonesia's coal production quotas for 2026 are impacting spot coal exports [3] - The reduction in Indonesian coal spot exports is estimated to affect China's monthly average thermal coal consumption and import volumes by 0.5% and 4.2%, respectively [3] - The timing of the quota negotiations coincides with the Lunar New Year, which may amplify the emotional impact on coal consumption beyond the fundamental effects [3]

于2026年2月12日发行2028票据本金总额为5.5亿美元，利率为SOFR复合指数 + 每年0.48厘浮动利率， 到期日2028年2月12日或与其最近的派息日;于2026年2月12日发行2029票据本金总额为8.5亿美元，利率 为SOFR复合指数 + 每年0.53厘浮动利率，到期日2029年2月12日或与其最近的派息日。 已向联交所申请票据的上市及允许买卖，票据以仅售予专业投资者的债务证券方式于联交所上市及买 卖。预期票据的上市将于2026年2月13日生效。 智通财经APP讯，中金公司(03908)发布公告，于2026年2月5日，发行人、担保人及本公司就根据计划发 行票据与联席全球协调人以及联席帐簿管理人和联席牵头经办人订立认购协议。 ...