FF305 | | 於下列日期結束時的結存 (註5及6) 2025年12月8日 | 21,533,160,934 | | 0 | | 21,533,160,934 | | --- | --- | --- | --- | --- | --- | --- | | | B. 贖回/購回股份 (擬註銷但截至期終結存日期尚未註銷) (註5及6) | | | | | | | 1). | 購回股份 (擬註銷但截至期終結存日期尚未註銷) | 13,500,000 | 0.052 % | HKD | 37.61 | | | | 變動日期 2025年11月20日 | | | | | | | 2). | 購回股份 (擬註銷但截至期終結存日期尚未註銷) | 8,000,000 | 0.031 % | HKD | 37.92 | | | | 變動日期 2025年11月21日 | | | | | | | 3). | 購回股份 (擬註銷但截至期終結存日期尚未註銷) | 2,500,000 | 0.01 % | HKD | 40.29 | | | | 變動日期 2025年11月25日 | | | | | | | 4). | 購回股份 (擬註 ...

（文章来源：每日经济新闻） 每经AI快讯，12月8日，南向资金净买入约15.40亿港元。小米集团-W、中芯国际分别获净买入约11.73 亿港元、4.67亿港元；腾讯控股遭净卖出7.62亿港元。 ...

哈塞特在接受采访时被问及是否认为联邦公开市场委员会会降息。"我认为应该降息，而且我认为很有可能会降，"哈塞特说道，并指出美联储理事和地区主 席近期的表态显示，"他们现在似乎明显倾向于降息。" 当被问及若获提名并确认领导美联储，可能会推动进一步降息多少次时，这位总统经济顾问回避了该问题，称美联储主席的职责是"对数据做出非常灵敏的 反应"，并考虑调整利率对通胀和就业的影响。 久期财经讯，12月5日，据悉，美国国家经济委员会主任凯文·哈塞特表示，美联储应在下周会议上降息，并预测将降息25个基点。与此同时，有关美国总统 特朗普正准备提名美联储主席人选的猜测日益升温。 特朗普本周早些时候表示，计划于2026年初宣布其美联储主席人选，目前已确定最终候选人。最近几天，他多次称赞哈塞特，并暗示可能提名他。 热点消息 每日发行总结 今日，一级市场，共1家潜在发行： 数据来源：久期财经 | 序号 | 信用主体 | 期限 | | --- | --- | --- | | | 海南天然橡胶产业集 团股份有限公司 | PNC3 | 每日评级总结 今日，共8家公司评级获机构更新： 数据来源：久期财经 龙光集团(03380.HK)发布公告， ...

Core Viewpoint - Xiaomi Group achieved impressive results in Q3 2025, with multiple indicators reaching historical highs, including total revenue of 113,120.73 million RMB, a year-on-year increase of 22.28% [1] Financial Performance - Q3 net profit reached 12,270.87 million RMB, marking a year-on-year increase of 129.35%, a historical high (adjusted) [1] Business Development - Xiaomi's traditional core business, smartphones, remains a key pillar, generating revenue of 46 billion RMB. The combined revenue from smartphones and AIoT reached 84.1 billion RMB in the quarter [1] - The IoT and lifestyle consumer products segment generated revenue of 27.6 billion RMB, reflecting a year-on-year growth of 5.6% [1] - The automotive business achieved a significant breakthrough, with revenue from smart electric vehicles and A1 innovation reaching 29 billion RMB, a year-on-year increase of over 199%, including 28.3 billion RMB from automotive sales. The quarterly delivery volume exceeded 100,000 units, a record high since its launch [1] Profit Forecast - The company expects total revenue for 2025 to reach 409.82 billion RMB, representing a growth of 12%, with an operating profit margin of 5.88%. The corresponding PE ratios for 2025-2027 are projected to be 22.24, 18.60, and 15.02 times, respectively [1]

Market Overview - US stock market continued to rise on December 5, supported by expectations of Federal Reserve interest rate cuts and positive US-China trade signals, with all three major indices closing higher [1] - The Dow Jones Industrial Average increased by 0.22% to 47,954.99 points, the Nasdaq Composite rose by 0.31% to 23,578.13 points, and the S&P 500 gained 0.19% to close at 6,870.40 points, marking four consecutive days of gains for the S&P 500 [1] Technology Sector Performance - Major US technology stocks mostly rose, with the US Tech Giants Index increasing by 0.20%. Facebook saw a nearly 2% rise, Google over 1%, Microsoft up 0.48%, Amazon up 0.18%, and Tesla up 0.1% [2] - Despite declines in Apple and Nvidia by 0.68% and 0.53% respectively, the overall performance of technology stocks remained strong [2] Chinese Stocks Performance - The Nasdaq Golden Dragon China Index rose by 1.29%, with notable individual stock performances including Baidu up nearly 6%, Xiaomi over 2%, Meituan nearly 2%, and Xpeng, iQIYI, and TAL Education all up over 2% [3] - Dingdong Maicai led the gains among Chinese stocks with an increase of over 11% [3] Mergers and Acquisitions - Netflix announced its agreement to acquire Warner Bros. Discovery for approximately $72 billion [4] - SoftBank is reportedly in talks to acquire AI infrastructure investment company DigitalBridge [4] - Albemarle, the world's largest lithium producer, saw a 5% increase in stock price after UBS upgraded its rating from "neutral" to "buy" and raised the target price from $107 to $185 per share [4] Commodity Market Movements - Gold prices experienced volatility, closing at $4,197.4 per ounce, down 0.26%, after initially rising over 1% [5] - Silver prices, after reaching a historical high, ultimately closed up 2.07% [5] - In the oil market, WTI crude oil futures for January delivery rose by 0.69% to $60.08 per barrel, while Brent crude for February delivery increased by 0.49% to $63.75 per barrel, supported by ongoing geopolitical risks [5] Cryptocurrency Market - The cryptocurrency market faced pressure, with Bitcoin dropping below $89,000, down 3.59% in a single day, and major altcoins like Ethereum and Solana also experiencing declines of over 3% [8] US-China Trade Relations - Positive signals emerged from US-China trade relations, with discussions between Chinese Vice Premier He Lifeng and US Treasury Secretary Yellen focusing on practical cooperation and addressing mutual concerns in the economic field [9] Federal Reserve Interest Rate Expectations - Market attention is on the Federal Reserve's interest rate cut expectations, with the core PCE price index for September at 2.8%, below the expected 2.9%, reinforcing the likelihood of a rate cut next week [10] - The probability of a 25 basis point rate cut next week is at 87%, according to CME's FedWatch tool [10]

Core Viewpoint - The Hang Seng Index rose by 0.58% on December 5, with southbound capital recording a total transaction amount of HKD 82.7 billion, resulting in a net inflow of HKD 13.41 billion [2] Group 1: Southbound Capital Transactions - Total southbound capital transactions amounted to HKD 82.7 billion, with buy transactions at HKD 42.02 billion and sell transactions at HKD 40.68 billion, leading to a net buy of HKD 13.41 billion [2] - The Shenzhen Stock Connect saw a cumulative transaction amount of HKD 35.38 billion, with net buying of HKD 17.35 billion, while the Shanghai Stock Connect recorded a cumulative transaction amount of HKD 47.32 billion, resulting in a net sell of HKD 3.94 billion [2] Group 2: Active Stocks - Alibaba-W had the highest transaction amount among southbound stocks at HKD 69.86 billion, but experienced a net sell of HKD 17.76 billion, despite a closing price increase of 0.39% [2][3] - Xiaomi Group-W recorded a total transaction amount of HKD 65.04 billion with a net buy of HKD 30.13 billion, closing up by 1.91% [3] - Meituan-W had a total transaction amount of HKD 17.28 billion with a net buy of HKD 6.07 billion, closing up by 0.97% [3] Group 3: Continuous Net Buying and Selling - Xiaomi Group-W and Meituan-W were among the stocks with the longest continuous net buying days, with 6 and 7 days respectively, and total net buys of HKD 50.66 billion and HKD 28.96 billion [3] - Tencent Holdings and SMIC were notable for continuous net selling, with total net sells of HKD 39.05 billion and HKD 35.68 billion respectively [3][4]

| 港股通(沪)活跃成交股 | | --- | | 快手-W | 1.42亿 | 3.99亿 | 5.411 | | --- | --- | --- | --- | | HK 01024 | | | -2.57 | | 中国海洋石油 | 2.75亿 | 2.13亿 | 4.881 | | HK 00883 | | | +6206.91 | | ASMPT | 634.52万 | 4.461乙 | 4.521 | | HK 00522 | | | -4.39 | | 比亚迪股份 | 3.77亿 | 3808.91万 | 4.151 | | HK 01211 | | | +3.39 | 港股通(深)活跃成交股 小米集团-W(01810)获净买入30.13亿港元。消息面上，高盛发布研报称，预期未来数季将有更多AI成果公布，并应用于小米集团生态圈及其全球规模最大的 AIoT连网装置，将驱动差异化发展，并支持小米"人车家"生态圈的升级策略。予小米"买入"评级，目标价53.5港元。 智通财经APP获悉，12月5日港股市场，北水成交净买入14.8亿港元，其中港股通(沪)成交净卖出3.94亿港元，港股通(深)成交净买入17. ...

每经AI快讯，12月5日，南向资金净买入约13.41亿港元。小米集团-W、美团-W分别获净买入约30.13亿 港元、6.07亿港元；阿里巴巴-W遭净卖出17.76亿港元。 （文章来源：每日经济新闻） ...

小米AI布局方面，报告指，小米积极探索边缘端大型语言模型与云端大型语言模型，以满足不同场景 对灵活性与便利性的多元需求。该公司已推出多款专业化大型语言模型，涵盖视觉、音频、语音及本地 化智能助手，并于11月21日新发布跨具身基础模型MiMo-Embodied。 12月1日，字节跳动发布豆包手机助手技术预览版，专为智能手机品牌设计，将豆包大型语言模型整合 至行动作系统，可实现视觉化屏幕内容解读及跨应用程序作等多步骤任务。该预览版已作为工程原型嵌 入全新nubia M153手机机型。此前豆包行动键盘已于11月下旬登陆iOS与Android平台，显示字节跳动正 战略性拓展至移动互联网基础设施与智能手机生态领域。 高盛发布研报称，预期未来数季将有更多AI成果公布，并应用于小米集团-W(01810)生态圈及其全球规 模最大的AIoT连网装置，将驱动差异化发展，并支持小米"人车家"生态圈的升级策略。予小米"买入"评 级，目标价53.5港元。 ...

小米AI布局方面，报告指，小米积极探索边缘端大型语言模型与云端大型语言模型，以满足不同场景 对灵活性与便利性的多元需求。该公司已推出多款专业化大型语言模型，涵盖视觉、音频、语音及本地 化智能助手，并于11月21日新发布跨具身基础模型MiMo-Embodied。 智通财经APP获悉，高盛发布研报称，预期未来数季将有更多AI成果公布，并应用于小米集团- W(01810)生态圈及其全球规模最大的AIoT连网装置，将驱动差异化发展，并支持小米"人车家"生态圈 的升级策略。予小米"买入"评级，目标价53.5港元。 12月1日，字节跳动发布豆包手机助手技术预览版，专为智能手机品牌设计，将豆包大型语言模型整合 至行动作系统，可实现视觉化屏幕内容解读及跨应用程序作等多步骤任务。该预览版已作为工程原型嵌 入全新nubia M153手机机型。此前豆包行动键盘已于11月下旬登陆iOS与Android平台，显示字节跳动正 战略性拓展至移动互联网基础设施与智能手机生态领域。 ...