Core Viewpoint - NetDragon (00777) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1: Share Buyback Details - The company will repurchase 340,000 shares at a total cost of HKD 3.9201 million [1] - The buyback price per share ranges from HKD 11.45 to HKD 11.61 [1]

翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 網龍網絡控股有限公司 FF305 FF305 確認 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： (註7) (i) 上市發行人已收取其在是次股份發行或庫存股份出售或轉讓應得的全部款項； 呈交日期： 2025年11月26日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適 ...

Core Viewpoint - The internet giant reported a strong financial performance for Q3 2025, with revenue of approximately 247.8 billion yuan, a 15% year-on-year increase, surpassing market expectations, driven by robust growth in the "AI + Cloud" business [1] Financial Performance - The company's cloud intelligence group generated revenue of 39.82 billion yuan, reflecting a 34% year-on-year growth [1] - AI-related product revenue has achieved triple-digit year-on-year growth for nine consecutive quarters, indicating significant progress in AI commercialization [1] Market Reaction - Following the positive earnings report, the Hong Kong tech sector showed signs of recovery, with the Hang Seng Tech ETF (513130) experiencing active trading, reaching a transaction volume of 2.673 billion yuan by 11:30 AM [1] - As of November 25, 2025, the ETF's latest size reached 43.592 billion yuan, with 5.8892 billion shares, both marking new highs since its inception [1] Industry Insights - The Hang Seng Tech Index, closely tracked by the ETF, includes 30 competitive Hong Kong internet and leading companies, providing a balanced exposure to various sectors and potential investment opportunities in economic transformation and AI industry upgrades [1] - The top five constituents of the index include Alibaba-W, Tencent Holdings, SMIC, Meituan-W, and NetEase-S, showcasing a diverse representation of the tech sector [1] Market Sentiment - Recent market fluctuations were attributed to concerns over interest rate cuts and AI bubble theories, but analysts from China Merchants Securities view this as a phase of irrational panic, expecting market sentiment to recover as external pressures ease [1] - The report suggests that the AI industry does not exhibit systemic bubbles, with issues primarily concentrated in speculative AI concept stocks, and highlights the differences between Chinese and American AI companies [1] Investment Opportunities - With the anticipated easing of liquidity constraints due to rising expectations of Federal Reserve interest rate cuts, and supported by strong earnings and AI developments, concerns over AI bubbles are expected to diminish [1] - The Hang Seng Tech ETF (513130) is recognized as a preferred tool for investors looking to allocate to Hong Kong tech assets, boasting advantages such as large scale, good liquidity, and a low management fee of 0.2% [1]

Core Viewpoint - A leading internet company reported its Q2 FY2026 earnings, showing revenue of approximately 247.8 billion yuan, a 15% year-over-year increase after excluding the impact of divested businesses, surpassing market expectations [1] Group 1: Company Performance - The "AI + Cloud" business segment demonstrated strong growth, with cloud intelligent group revenue reaching 39.82 billion yuan, a 34% year-over-year increase [1] - AI-related product revenue has achieved triple-digit year-over-year growth for nine consecutive quarters, indicating significant progress in AI commercialization [1] Group 2: Market Reaction - Following the positive earnings report, the Hong Kong technology sector continued its recovery, with the Hang Seng Tech ETF (513130) experiencing active trading, reaching a transaction volume of 2.673 billion yuan by 11:30 AM [1] - As of November 25, 2025, the ETF's latest size reached 43.592 billion yuan, and the number of shares reached 5.8892 billion, both hitting record highs since its inception [1] Group 3: Investment Opportunities - The Hang Seng Tech Index, closely tracked by the ETF, includes 30 competitive Hong Kong internet and leading companies, providing a balanced exposure to investment opportunities in economic structural transformation and AI industry upgrades [1] - The top five constituents of the index as of November 25, 2025, are Alibaba-W, Tencent Holdings, SMIC, Meituan-W, and NetEase-S [1] Group 4: Market Sentiment - Recent market fluctuations were attributed to "interest rate cut disagreements and AI bubble theories," but a report from China Merchants Securities suggests this is a phase of irrational panic, with expectations for market sentiment to recover as external negative factors ease [1] - The report indicates that the AI industry may not have a systemic bubble, with issues primarily concentrated in speculative AI concept stocks, and highlights the differences between Chinese and U.S. AI companies [1] Group 5: Future Outlook - With expectations of easing liquidity constraints due to rising interest rate cut expectations, and supported by strong earnings and AI developments, concerns over an AI bubble are likely to diminish, positioning technology growth as a key market trend [1] - The Hang Seng Tech ETF is recognized as a preferred tool for investors looking to allocate to Hong Kong technology assets, with over 220,000 account holders as of the latest mid-year report [1]

Core Viewpoint - The Hong Kong stock market's technology sector continues to rebound, with the Hong Kong Technology ETF (513020) rising nearly 1.5% and a net inflow of over 220 million yuan in the past five days [1] Group 1: Alibaba's Financial Performance - Alibaba reported its Q2 fiscal year 2026 earnings, showing a 34% year-on-year growth in cloud revenue [1] - AI-related product revenue has achieved triple-digit year-on-year growth for nine consecutive quarters [1] - Capital expenditure for the quarter was 31.5 billion yuan, with approximately 120 billion yuan spent on AI and cloud infrastructure over the past four quarters [1] Group 2: AI Product Development - Alibaba's self-developed AI assistant, Qianwen APP, has surpassed 10 million downloads within a week of its public testing starting on November 17 [1] - The growth rate of Qianwen APP's downloads exceeds that of several well-known AI applications, including ChatGPT, Sora, and DeepSeek, indicating strong market response [1] Group 3: Hong Kong Technology ETF - The Hong Kong Technology ETF (513020) tracks the CSI Hong Kong Stock Connect Technology Index, which includes leading technology stocks in internet, chips, new energy, and innovative pharmaceuticals [1] - The ETF comprises popular stocks such as Alibaba, Xiaomi, Tencent, Meituan, Lenovo, BYD, and SMIC, making it a quality target for investors looking to capitalize on the rebound in the Hong Kong market [1]

智通财经APP讯，网龙(00777)发布公告，该公司于2025年11月25日斥资36.3万港元回购3.1万股股份，每 股回购价格为11.7-11.73港元。 该信息由智通财经网提供 ...

格隆汇11月25日丨网龙(00777.HK)发布公告，2025年11月25日耗资36.3万港元回购3.1万股，回购价格每 股11.7-11.73港元。 相关事件 网龙(00777.HK)11月25日耗资36.3万港元回购3.1万股 网龙(00777.HK)11月21日耗资219.01万港元回购20 万股 ...

公司名稱： 網龍網絡控股有限公司 呈交日期： 2025年11月25日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00777 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（不包括庫存股份）數 目 ...

Core Viewpoint - The Hong Kong stock market is experiencing a rebound in technology stocks, particularly in the internet sector, with significant inflows into the Hong Kong Internet ETF (513770) indicating strong investor interest [1][3]. Group 1: Market Performance - As of November 24, the Hong Kong stock market opened higher, with major tech stocks like Kuaishou-W rising over 2%, and Tencent, Xiaomi, and Alibaba each increasing by more than 1% [1]. - The Hong Kong Internet ETF (513770) has seen a net inflow of 71.14 million CNY over the past week, with a total inflow exceeding 1 billion CNY in the last 20 days [1][3]. Group 2: Valuation Metrics - The price-to-earnings (P/E) ratio of the index tracked by the Hong Kong Internet ETF is currently at 21.93, which is at a historical low, positioned at the 8.3% percentile over the past decade [2][3]. - The ETF's latest scale exceeds 10.9 billion CNY, with an average daily trading volume of over 600 million CNY this year, indicating good liquidity [4]. Group 3: Key Holdings - The top three holdings in the Hong Kong Internet ETF are Alibaba-W (18.89% weight), Tencent Holdings (17.01% weight), and Xiaomi Group-W (10.05% weight), collectively representing over 73% of the ETF's portfolio [3][4]. - The ETF is designed to passively track the CSI Hong Kong Stock Connect Internet Index, which focuses on leading internet companies [3].

格隆汇11月21日丨网龙(00777.HK)发布公告，2025年11月21日耗资219.01万港元回购20万股，回购价格 每股10.9-11.07港元。 网龙(00777.HK)11月21日耗资219.01万港元回购20万股 网龙(00777.HK)11月20日耗资111.31万港元回购 10万股 相关事件 ...