Group 1 - Haitai Weiye's dark market closed up 3.86% on June 18, with a final price of HKD 37.7 and a total market capitalization of HKD 219.56 billion, indicating strong market recognition [1] - The listing of Haitai Weiye on the Hong Kong Stock Exchange is expected to provide significant capital support and enhance its international visibility and brand influence [1] Group 2 - Shiyuan Technology submitted its listing application to the Hong Kong Stock Exchange on June 17, holding a leading position in the interactive smart panel and LCD main control board sectors [2] - The company's projected revenues for 2022 to 2024 are HKD 20.99 billion, HKD 20 billion, and HKD 22.4 billion, with net profits of HKD 2.1 billion, HKD 1.4 billion, and HKD 1 billion respectively [2] - The listing is a significant step for Shiyuan Technology towards the international capital market, which will enhance its brand influence [2] Group 3 - Xie Ruilin expects a loss of no more than HKD 200 million for the fiscal year ending March 31, 2025, a significant reduction of over 46% compared to the previous year's loss of HKD 374 million [3] - The improvement in performance is attributed to the successful implementation of business transformation strategies and increased profit contributions from its franchise operations in mainland China [3] - This positive trend indicates the company's potential for future financial performance and market competitiveness [3] Group 4 - Zhou Li Fu, Sheng Bei La, and Ying Tong Holdings are simultaneously conducting an IPO in Hong Kong, with subscription ending on June 23 [4] - The offering prices are set at HKD 24, HKD 2.8-3.28, and HKD 6.58 respectively, with cornerstone investors participating and all companies having an over-allotment option [4] - Zhou Li Fu is expanding rapidly through a franchise model, while Ying Tong Holdings boasts a strong brand portfolio and sales network; Sheng Bei La focuses on high-end postpartum care with significant revenue growth but increasing losses [4]

Group 1 - The Federal Reserve decided to maintain the federal funds rate target range at 4.25% to 4.50%, marking the fourth consecutive meeting without a rate change. Officials expect inflation in the U.S. to worsen in the coming months but anticipate two rate cuts by the end of 2025 [4] - The Fed projects that by the end of 2025, the U.S. inflation rate will rise to 3%, the unemployment rate will increase to 4.5%, and economic growth will slow to 1.4% [4] - Fed Chairman Jerome Powell cautioned against over-reliance on interest rate predictions, emphasizing that forecasts may change based on incoming data, particularly inflation data [4] Group 2 - U.S. stock indices closed mixed, with the Nasdaq up 0.13%, while the S&P 500 and Dow Jones fell by 0.03% and 0.1%, respectively. Circle saw a significant increase of nearly 34%, reaching a new high [5] - Major tech stocks had varied performances, with Intel rising over 3% and Tesla up more than 1%, while Google and Amazon fell over 1% [5] - Chinese concept stocks mostly declined, with the Nasdaq Golden Dragon China Index down 0.82% [5] Group 3 - International gold prices decreased, with spot gold down 0.55% at $3368.47 per ounce, and COMEX gold futures falling 0.6% to $3386.40 per ounce [6] - International oil prices also saw slight declines, with WTI crude oil down 0.22% at $73.11 per barrel, and Brent crude down 0.26% at $76.25 per barrel [7] Group 4 - The Central Financial Committee issued opinions to support the accelerated construction of the Shanghai International Financial Center, aiming for a comprehensive enhancement of its capabilities within five to ten years [10] - The action plan includes promoting the gathering of financial institutions, improving financial services for the real economy, expanding institutional openness, enhancing regulatory standards, and improving policy support [10] Group 5 - The China Securities Regulatory Commission (CSRC) announced the establishment of a growth tier on the Sci-Tech Innovation Board to enhance institutional inclusiveness and adaptability [12] - The CSRC will allow qualified foreign investors to participate in ETF options trading starting from October 9, 2025, aimed at hedging purposes [13] Group 6 - JD.com announced its entry into the hotel and travel industry, offering hotel operators up to three years of zero commission to attract participation in its membership program [23] - The collaboration between ByteDance's Seed team and BYD on lithium battery development aims to leverage AI technology for advancements in battery research [25] Group 7 - Minimax, an AI unicorn, is considering an IPO in Hong Kong, currently in the preliminary preparation stage [27] - Haitian Flavoring and Food Company has seen significant interest in its IPO, with subscription amounts exceeding 400 billion HKD, indicating strong investor confidence [28]

证券代码：603288 证券简称：海天味业 公告编号：2025-029 佛山市海天调味食品股份有限公司 关于 H 股公开发行价格的公告 公司本次发行的 H 股预计于 2025 年 6 月 19 日在香港联交所主板挂牌并开 始上市交易。 特此公告。 佛山市海天调味食品股份有限公司董事会 二〇二五年六月十八日 1 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 佛山市海天调味食品股份有限公司（以下简称"公司"）正在进行发行 H 股股票并在香港联合交易所有限公司（以下简称"香港联交所"）主板挂牌上市 （以下简称"本次发行上市"）的相关工作。 因本次拟发行的 H 股股份的认购对象仅限于符合相应条件的境外投资者及 依据中国相关法律法规有权进行境外证券投资管理的境内证券经营机构和合格 境内机构投资者等。因此，本公告仅为境内投资者及时了解公司本次发行上市的 相关信息而作出，并不构成也不得被视为是对任何个人或实体收购、购买或认购 公司任何证券的要约或要约邀请。 公司已于 2025 年 6 月 16 日确定本次 H 股发行的最终价格为每股 36 ...

Group 1 - Haitai Flavor Industry's Hong Kong stock saw a significant increase, with a peak rise of nearly 10% in the dark market, currently up nearly 5% [1] - The company's offering price for each H-share was set at HKD 36.30 [1] - The stock's trading volume reached 5.5252 million shares, with a total transaction value of HKD 2.17 billion [1] Group 2 - The stock's highest price during trading was HKD 40.95, while the lowest was HKD 38.00, indicating a trading range of 8.13% [1] - The current market capitalization of Haitai Flavor Industry is approximately HKD 221.597 billion [1] - The price-to-earnings ratio (P/E) stands at 32.06, and the price-to-book ratio (P/B) is 6.58 [1]

海天味业(03288.HK)暗盘涨超6%，明日港交所上市。 ...

Group 1: Market Performance - The consumption ETF managed by Jiashi recorded a trading volume of 982,300 yuan on the trading day, with an average daily trading volume of 10.1366 million yuan over the past year [2] - The consumption ETF's scale increased by 12.4 million yuan over the past year, with a recent weekly share increase of 3.9 million shares [2] - The latest price-to-earnings ratio (PE-TTM) of the index tracked by the consumption ETF is 18.76, which is in the 0.4% percentile over the past year, indicating a valuation lower than 99.6% of the time in the past year, suggesting historical low valuations [2] Group 2: Economic Indicators - In May, the total retail sales of consumer goods reached 41,326 billion yuan, showing a year-on-year growth of 6.4%, marking the highest growth rate in 2024 [2] - The retail sales of goods in May amounted to 36,748 billion yuan, with a year-on-year increase of 6.5%, also the highest growth rate in 2024 [2] - The catering revenue in May was 4,578 billion yuan, growing by 5.9%, the highest growth rate since April 2024 [2] Group 3: Industry Composition - The consumption ETF tracks the CSI Major Consumption Index, which includes leading consumer stocks in A-shares, covering various sectors from liquor, pork, dairy, condiments to food processing [3] - The liquor industry is the largest sector within the index, accounting for 45% of the total weight, indicating a significant focus on alcoholic beverages [3] Group 4: Investment Opportunities - Investors can also access the consumption recovery trend through the Jiashi Consumption ETF linked fund (009180) [5]

Group 1: Market Performance - As of June 18, 2025, the CSI Major Consumer Index (000932) increased by 0.82%, with notable gains from Yanjing Beer (000729) at 3.58%, Jinshiyuan (603369) at 2.96%, and Gujing Gongjiu (000596) at 1.87% [1] - The Major Consumer ETF (159672) rose by 0.93%, with the latest price reported at 0.76 yuan [1] Group 2: Beer Consumption Trends - With rising temperatures, beer consumption is entering a peak season, supported by consumption policies that are expected to boost beer sales [1] - Yanjing Beer reported strong growth in its U8 product line from January to May, indicating a positive sales trend [1] Group 3: ETF Performance Metrics - The Major Consumer ETF has achieved a maximum monthly return of 24.35% since its inception, with an average monthly return of 4.87% [2] - The ETF's maximum drawdown this year is 6.05%, with a relative benchmark drawdown of 0.34% [2] - The management fee for the ETF is 0.50%, and the custody fee is 0.10%, making it one of the lowest in its category [2] Group 4: Valuation Insights - The latest price-to-earnings ratio (PE-TTM) for the CSI Major Consumer Index is 18.76, indicating it is at a historical low, below 99.6% of the time over the past year [2] Group 5: Top Holdings - As of May 30, 2025, the top ten weighted stocks in the CSI Major Consumer Index account for 67.15% of the index, with notable companies including Yili (600887), Kweichow Moutai (600519), and Wuliangye (000858) [3]

Market Overview - The Hang Seng Index is constrained by the March high of 24,874 points, with expectations of new financial policies from mainland China to stabilize the market, including reserve requirement ratio cuts and interest rate reductions [2] - The recent US-China trade negotiations have led to a temporary reduction in tariffs, but ongoing tensions remain, particularly with accusations from President Trump regarding China's compliance with agreements [2] - The Hang Seng Index's valuation has returned to reasonable levels, requiring significant positive developments in trade agreements and corporate earnings improvements to maintain upward momentum [2] Macro Focus - The Shanghai Lujiazui Forum is expected to announce a series of policies that could impact the financial sector [4][9] - The People's Bank of China conducted a reverse repurchase operation of 197.3 billion yuan, maintaining a rate of 1.4%, indicating a stable liquidity environment [9] - Foreign investment in domestic stocks has increased, with a net inflow of 33 billion USD in May, reflecting a stable economic outlook in China [9] - Hong Kong's unemployment rate has risen to 3.5%, the highest in two and a half years, with significant increases in the construction, retail, and real estate sectors [9] Company News - Haitan Flavor Industry (3288) has set its IPO price at 36.3 HKD, raising a total of approximately 10.1 billion HKD [11] - Yingtong Holdings (6883) has begun its IPO process, aiming to raise up to 1.1 billion HKD [11] - Chow Tai Fook (6168) has also initiated its IPO, targeting a maximum of 1.1 billion HKD [11] - Pop Mart (9992) has opened its second jewelry store in Beijing, with products selling out quickly, indicating strong consumer demand [11] - JD Group (9618) plans to enter the liquor and travel industry, reflecting diversification efforts [11] - Alibaba's Gaode Map has launched a taxi-hailing service in Macau, enhancing cross-border travel integration [11] - The Hong Kong Stock Exchange (0388) is optimistic about the return of Chinese companies to the Hong Kong market, citing strong liquidity and market capacity [11]

Core Viewpoint - The successful H-share IPO of Haitian Flavor Industry Co., Ltd. (海天味业) reflects strong market confidence and a turnaround in the company's performance under the new leadership of Cheng Xue, following a challenging period marked by declining profits and controversies [2][4][10]. Group 1: H-share IPO Details - The H-share IPO was oversubscribed with a subscription multiple of 698.57 times, raising approximately HKD 101 billion (around RMB 92 billion) at a final price of HKD 36.3 per share [2][9]. - The IPO attracted significant interest from global investors, with cornerstone investors collectively subscribing to about 129 million shares, totaling approximately HKD 47 billion [9]. - The company plans to issue approximately 279 million H-shares, with the shares expected to begin trading on June 19 [8][9]. Group 2: Financial Performance - After two years of declining profits, the company reported a revenue of RMB 269.01 billion and a net profit of RMB 63.44 billion in 2024, marking a year-on-year growth of 9.53% and 12.75% respectively [13]. - In the first quarter of 2024, the company continued its growth trajectory with revenues of RMB 83.15 billion and a net profit of RMB 22.02 billion, reflecting increases of 8.08% and 14.77% year-on-year [13]. - The company had previously faced challenges, with revenues and net profits declining in 2022 and 2023 due to controversies and market pressures [12][13]. Group 3: Strategic Goals and Global Expansion - The primary objectives of the IPO include enhancing global brand image, increasing international competitiveness, and expanding overseas market presence [15]. - The company aims to increase the proportion of overseas revenue to 15% within three years, targeting approximately RMB 40 billion in overseas income based on projected revenues of RMB 270 billion [17]. - Plans for international expansion include establishing production bases in Indonesia and Europe, with a goal of sourcing over 50% of raw materials from overseas [15][17].

Group 1 - Company Haitian Flavor Industry has made progress towards its listing on the Hong Kong Stock Exchange, with its public offering ending on June 16, achieving a subscription multiple of 698.57 times and raising approximately 400 billion yuan [2] - The company aims to enhance its global strategy and brand image through this listing, as it has faced challenges in its core soy sauce business due to increased competition [2][3] - Despite a historical revenue growth rate of over 10% from 2010 to 2020, the company's revenue and net profit declined in 2022 and 2023, with 2022 revenue at 25.61 billion yuan (up 2.42%) and net profit at 6.20 billion yuan (down 7.09%) [3][4] Group 2 - In 2024, the company reported a revenue of 26.90 billion yuan (up 9.53%) and a net profit of 6.34 billion yuan (up 12.75%), indicating a recovery [3][4] - The soy sauce business generated 13.76 billion yuan in revenue in 2024, growing by 8.87%, but the revenue was still lower than in 2022 despite an increase in sales volume [4] - The company plans to allocate approximately 20% of the net proceeds from the IPO to establish a global brand image and enhance overseas supply chain capabilities, with a target of increasing overseas revenue to 15% within three years [5] Group 3 - The domestic seasoning market is experiencing intense competition, prompting the company to seek growth opportunities in overseas markets through its Hong Kong listing [4][6] - The company has established international operations, including a new investment entity in Hong Kong and a subsidiary in Indonesia, to facilitate its overseas expansion [6] - Competitors in the seasoning industry have already established strong international presences, posing challenges for the company's global strategy [7]