融创中国公告称，境内债务重组，根据一般授权发行新股份，将向特殊目的公司发行7.54亿股新股份。 ...

格隆汇7月4日丨融创中国(01918.HK)公布，有关融创房地产(公司全资附属公司)进行的境内债务重组。 如先前公告所述，境内债务重组方案经相关境内债券持有人会议审议通过后，融创房地产将安排境内债 券持有人就其持有的境内债券在债券购回(即现金要约收购)、股票经济收益权兑付及以资抵债等重组方 案选项中进行选择。 融创房地产已于2025年4月根据债券购回选项的安排以人民币约8亿元购回金额约人民币40亿元的境内债 券。目前，就股票选项而言，根据境内债务重组的条款，选择股票选项的每人民币100元面值的境内债 券可以获得对应的13.5股本公司股份的处置所得资金净额收益权。 为了配合境内债务重组中的股票选项的有序实施，于2025年7月3日，公司与特殊目的公司订立认购协 议，据此，特殊目的公司有条件同意认购，而公司有条件同意配发及发行合共754,468,943股股份。特殊 目的公司处置该等股份所获资金净额等额的境内资金将用于偿付选择股票选项的境内债券持有人所持有 的合计金额约人民币56亿元的相关境内债券。认购股份将根据一般授权配发及发行。 据悉，特殊目的公司为一间于英属维尔京群岛注册成立的有限公司， 其全部已发行股本由晟嘉 ...

Group 1 - Bilibili (09626.HK) shares have increased by 5% [1]

Core Points - GAMECO has officially obtained ISO27001 certification, becoming one of the few aircraft maintenance companies in the industry to achieve this international standard, marking a significant step towards its goal of becoming a world-class aviation maintenance enterprise [1][2] - ISO27001 is an international standard aimed at helping organizations establish, implement, maintain, and continuously improve their information security management systems, focusing on risk management principles to protect the confidentiality, integrity, and availability of information [1] - Under the requirements of its shareholder, China Southern Airlines, GAMECO has been mandated to enhance its data processing compliance management system, including information security aspects, with some international clients requiring ISO27001 certification as a prerequisite for service providers [1] Company Initiatives - GAMECO formed a project team to advance the certification process, achieving efficient implementation through collaboration across departments, identifying over 17,000 information assets, assessing and addressing 2,500 risks, conducting more than 10 training sessions, and developing 45 system manuals and procedures [1] - The successful certification enhances GAMECO's credibility and competitiveness within the industry, allowing for accelerated application of information technology in the aviation maintenance sector, thereby injecting new momentum for high-quality development [2]

稳定币概念港股涨幅扩大 国泰君安国际涨20% 智通财经7月4日电，截至发稿，国泰君安国际(01788.HK)涨20%，多点数智(025860.HK)涨19%，胜利证 券(08540.HK)涨7%。 ...

Core Viewpoint - 泰德医药 officially listed on the Hong Kong Stock Exchange on June 30, 2025, raising funds to expand production capacity and focusing on the GLP-1 pipeline development in response to increasing competition and regulatory challenges in the U.S. market [1][2][3] Group 1: Company Overview - 泰德医药 is a biopharmaceutical company based in Hangzhou, providing full-cycle services from early discovery to commercial production, primarily focusing on peptide NCE discovery and synthesis (CRO services) and peptide CMC development and commercial production (CRDMO services) [1][2] - The company has a project pipeline that includes 1,217 ongoing CRO projects and 332 ongoing CDMO projects, with a strategic focus on GLP-1 pipeline construction [1][3] - In 2023, 泰德医药 became the third largest global CRDMO focused on peptides, holding a market share of 1.5%, following Swiss leaders Bachem and PolyPeptide [1] Group 2: Financial Performance - 泰德医药's revenue for 2022, 2023, and projected 2024 are 350 million RMB, 330 million RMB, and 440 million RMB respectively, with net profits of 53.98 million RMB, 48.91 million RMB, and 59.17 million RMB [2] - The company plans to utilize 76.4% of the 4.11 billion HKD raised from the IPO to build or acquire production facilities in China and the U.S. to enhance production capacity [3] Group 3: Market Position and Strategy - 泰德医药's overseas revenue accounted for 78% in 2023, with the U.S. being the largest market, contributing 37.7%, 34.1%, and 55.0% of revenue from 2022 to 2024 [7][8] - The company aims to increase local production capacity in the U.S. to mitigate potential impacts from U.S. tariff policies, with plans to complete a facility in Rocklin, California, by the second half of 2025 [9] - The global peptide drug market is projected to grow significantly, with a market size of 38.9 billion USD in 2023 and a compound annual growth rate of 33.2% [3] Group 4: Industry Context - The biopharmaceutical industry in Hangzhou's 钱塘区 is rapidly developing, with 泰德医药 being the third listed company in the area in 2025, highlighting the region's focus on attracting high-quality biopharmaceutical enterprises [10] - The company is part of a broader trend where Chinese CXO firms are increasing local production capabilities in response to global market dynamics and regulatory challenges [9]

Core Insights - A total of 176 ETF funds experienced net inflows from financing, while 32 funds saw net outflows from securities lending [1] - The top five ETFs with significant net inflows include Convertible Bond ETF (511380.SH) with 213.18 million CNY, Chinese Concept Internet ETF (513050.SH) with 109.56 million CNY, and others [3][8] - Conversely, the top three ETFs with notable net outflows from securities lending are CSI 1000 ETF (512100.SH) with 30.11 million CNY, CSI 500 ETF (510500.SH) with 25.44 million CNY, and CSI 300 ETF (510300.SH) with 19.08 million CNY [5][10] Financing Net Inflows - 30 ETFs had financing net inflows exceeding 5 million CNY, with Convertible Bond ETF leading at 213.18 million CNY [1][3] - Other notable inflows include Hang Seng Technology ETF (513130.SH) with 65.99 million CNY and Short-term Bond ETF (511360.SH) with 50.99 million CNY [1][3] - Over the past five days, 60 ETFs had financing net inflows exceeding 5 million CNY, with Convertible Bond ETF and Nasdaq Technology ETF among the top performers [6][8] Securities Lending Net Outflows - Three ETFs had net outflows from securities lending exceeding 5 million CNY, with CSI 1000 ETF leading at 30.11 million CNY [5][10] - Other significant outflows include CSI 500 ETF with 25.44 million CNY and CSI 300 ETF with 19.08 million CNY [5][10] - Over the past five days, six ETFs had net outflows from securities lending exceeding 5 million CNY, with CSI 500 ETF experiencing a notable outflow of 20.45 million CNY [6][10]

出 品 | 异观财经 作 者 | 炫夜白雪 今年以来，港股市场表现良好，在港股牛市的浪潮之下，A股各行业龙头企业开始加速赴港IPO。 据港交所近日披露，上海锦江国际酒店股份有限公司(600754.SH)向港交所主板递交上市申请，东方证券国际为独家保荐人。若成功，锦江酒店将成为国内 首家"A+H"双上市的酒店集团。 锦江酒店赴港IPO，意欲何为？ 近几年，酒店行业的发展可谓冰火两重天。从数据来看，行业整体呈现出规模持续扩张，但盈利能力却在下滑的态势。 有报告数据显示，截至2024年底，我国住宿业设施总数约为57万家，客房总规模约1927万间，其中，酒店业设施增长9%至34.87万家（连锁酒店约9.33万 家），客房总数增长7%至1764万间（连锁客房数约707万间），连续三年实现增长。 酒店数量不断增长的同时，需求端却并未同步跟上。2024年国内出游人次56.15亿，同比增长14.8%，而2019年同期为60.06亿人次，2024年仅恢复至2019年 同期的93.49%。商务出行需求也因企业成本控制而减少，进一步压缩了酒店尤其是高端酒店的市场需求。 供大于求的局面直接导致酒店房价下滑，行业三大核心经营指标全面下 ...

Core Viewpoint - Yangjie Technology has terminated its original plan to acquire Better Electronics through a combination of issuing shares and cash payments, opting instead to pursue a cash acquisition plan [2][3]. Group 1: Acquisition Details - Yangjie Technology signed a cash acquisition intention agreement with six major shareholders of Better Electronics on July 2, 2025, indicating a shift to negotiate a cash purchase of all or part of Better Electronics' shares [3][11]. - The original acquisition plan involved issuing shares and cash to 67 parties for 100% of Better Electronics, but the new plan significantly reduces the number of parties involved to just six [7][8]. - The decision to terminate the original plan was influenced by the changing capital market environment and the inability to reach an agreement on the terms of the share issuance and cash payment [8]. Group 2: Financial Performance - Yangjie Technology reported a revenue of 6.033 billion yuan in 2024, a year-on-year increase of 11.53%, and a net profit of 1.002 billion yuan, up 8.50% [12]. - In the first quarter of 2025, the company continued its growth trajectory with a revenue of 1.579 billion yuan, representing an 18.90% increase year-on-year, and a net profit of 273 million yuan, up 51.22% [12]. Group 3: Market Position and Strategy - Better Electronics specializes in the research, production, and sales of power electronic protection components, which aligns with Yangjie Technology's strategic focus on over-voltage protection products [11]. - The acquisition is expected to enhance Yangjie Technology's market position and competitiveness in the downstream customer segment [11].

花旗：将腾讯音乐(01698.HK)目标价格从17美元上调至23美元。 ...