Market Overview - The Hong Kong stock market failed to maintain its previous day's gains, with the Hang Seng Index closing down 0.33% at 26,346.14 points and a total turnover of HKD 242.7 billion [1] - The Hang Seng China Enterprises Index fell by 0.97% to 9,375.79 points, while the Hang Seng Tech Index dropped 1.26% to 6,093.44 points [1] Blue-Chip Performance - HSBC Holdings (00005) led the blue-chip stocks, rising 4.41% to HKD 106.5, contributing 92 points to the Hang Seng Index [2] - HSBC reported a pre-tax profit of USD 7.3 billion for Q3 2025, a decrease of USD 1.2 billion year-on-year, but a fixed-rate pre-tax profit of USD 9.1 billion, up 3% year-on-year [2][6] - Other notable blue-chip movements included Xinyi Solar (00968) up 4.27% and AIA Group (01299) up 3.4%, while Zijin Mining (02899) fell 5.59% [2] Sector Performance - Large tech stocks generally declined, with Tencent and Alibaba both dropping over 1% [3] - Gold stocks experienced significant declines, with Chifeng Jilong Gold Mining (06693) down over 6% [3] - Hong Kong banking stocks rose against the trend, with HSBC's strong Q3 performance boosting investor confidence [5][6] New Listings - Four new stocks debuted positively, with Dipo Technology (01384) surging 150.56% and Baima Tea (06980) rising 86.7% [4][5] - Dipo Technology's IPO was highly sought after, with a subscription rate of 7,590 times, attracting approximately 239,000 investors [5] Gaming and Gambling Sector - Macau's gaming revenue showed signs of recovery, with October's revenue potentially reaching MOP 23 billion, the highest in 71 months [6] - Notable gains were seen in gaming stocks, with Sands China (01928) up 2.46% and Melco International Development (00200) up 1.24% [6] Notable Stock Movements - Fuyao Glass (06865) saw a strong performance, rising 12.29% after reporting a 21% year-on-year revenue increase [7] - Bilibili (09626) gained 5.31% following the successful launch of its new game, which sold over 200,000 copies shortly after release [8] - China Southern Airlines (01055) rose 3.01% after reporting a 2.23% increase in revenue for the first three quarters of 2025 [10]

智通财经APP讯，鸿盛昌资源(01850)发布公告，于2025年10月28日或前后，本公司接获王乐先生日期为 2025年10月27日的函件(该要求)，要求本公司董事会根据本公司的公司细则第 58条召开本公司股东特别 大会，借以考虑及酌情通过以下决议案为本公司普通决议案： "动议根据本公司的公司细则第83(5)条谨此撤销李俊衡先生担任本公司执行董事职务，自本决议案获通 过后即时生效。" "动议根据本公司的公司细则第83(5)条谨此撤销宣超慧先生担任本公司独立非执行董事职务，自本决议 案获通过后即时生效。" "动议谨此撤销于日期为2025年10月27日有关召开股东特别大会的要求通知至股东特别大会日期之间获 委任加入本公司董事会的各位本公司董事(惟将于股东特别大会上获委任为本公司董事的人士除外)担任 本公司董事职务，自本决议案获通过后即时生效。" "动议根据本公司的公司细则第83(6)条谨此委任王乐先生担任本公司执行董事职务，自本决议案获通过 后即时生效。" "动议根据本公司的公司细则第83(6)条谨此委任叶丽平女士担任本公司独立非执行董事职务，自本决议 案获通过后即时生效。" "动议根据本公司的公司细则第83(6 ...

智通财经APP讯，乐氏国际控股(01529)发布公告，由于其他工作及个人事务，黎嘉浩先生已辞任执行董 事职务，且不再为公司薪酬委员会成员，自2025年10月28日起生效。 ...

Group 1 - Baima Tea officially listed on the Hong Kong Stock Exchange on October 28, 2023, becoming the third Chinese tea company to go public after Tianfu Tea and Lancang Ancient Tea [2] - The company offered 9 million H-shares at an issue price of HKD 50.00 per share, raising a net total of HKD 389.89 million [2] - Baima Tea's stock price surged to HKD 93.35 per share by the end of the trading day, marking an increase of 86.7% and a total market capitalization of HKD 79.35 billion [2][3] Group 2 - Baima Tea's business model includes 3,716 offline stores, with 234 direct stores and a significant portion of revenue coming from franchise sales, which accounted for approximately 50% of total revenue in recent years [4][5] - The average selling price of Baima Tea's products decreased from HKD 694 per kilogram in 2022 to HKD 657 per kilogram by mid-2025, indicating challenges in maintaining high-end pricing [5][6] - The company's marketing expenses have been high, exceeding 30% of revenue, which has impacted profitability [6] Group 3 - The founders of Baima Tea, Wang Wenli and Wang Wenbin, come from a family with a long history in tea production, and the company remains a family-controlled business [7] - The Wang family collectively holds 55.90% of the voting rights in Baima Tea, with a significant portion of shares held post-IPO [7][8] - The family connections extend to other prominent businesses, including the well-known brand Seven Wolves, indicating a network of influential relationships within the industry [8]

中国经济网北京10月28日讯 滴普科技股份有限公司（以下简称"滴普科技"，01384.HK）今日在港交所 上市，开盘报56.50港元。截至今日收盘，滴普科技报66.80港元，涨幅150.56%。 滴普科技专注于为企业提供企业级大模型人工智能应用解决方案，助力企业大规模高效整合数据、决策 及运营。 根据最终发售价及配发结果公告，滴普科技本次发行发售股份数目为26,632,000股股份，其中，公开发 售的发售股份数目（重新分配后） 为5,326,400股股份，国际发售的发售股份数目（重新分配后）为 21,305,600股股份。滴普科技于上市后已发行的股份数目为326,632,000股股份。 滴普科技本次发行的联席保荐人、整体协调人、联席全球协调人、联席账簿管理人及联席牵头经办人为 中信证券（香港）有限公司、民银资本有限公司、国泰君安融资有限公司、浦银国际融资有限公司、交 银国际（亚洲）有限公司。 于2022年、2023年、2024年以及截至2025年6月30日止六个月，滴普科技的收入分别为人民币100.5百万 元、人民币129.0百万元、人民币242.9百万元及人民币132.1百万元，净亏损分别为人民币655.2 ...

Core Insights - Baima Tea officially launched its IPO process, planning to issue 9 million shares at a price of HKD 50 per share, aiming to raise a total of HKD 450 million [1] - After deducting listing-related expenses of HKD 60.11 million, the net fundraising amount is approximately HKD 390 million [1] - The company is set to be listed on the Hong Kong Stock Exchange on October 28, 2025 [1] Group 1 - The successful listing on the Hong Kong market marks the completion of Baima Tea's nine-month journey towards IPO, following two unsuccessful attempts to submit a prospectus for the A-share market [3] - After transitioning to the Hong Kong market, the company submitted its listing application in January 2025 and received listing approval after regulatory review [3] - On the first trading day, the stock opened at HKD 80, a significant increase of 60% from the issue price, with intraday gains reaching 70%, resulting in a market capitalization exceeding HKD 7.2 billion [3] Group 2 - As a leading retail enterprise in the tea industry, Baima Tea has established a comprehensive operational system covering the entire industry chain, including tea planting, product development, standard formulation, and brand retail [3] - The product matrix includes five major tea categories: Oolong, black, red, green, and white tea, along with related products such as tea utensils and tea foods [3] - The company employs a combination of direct sales and franchising to expand its market presence, forming a nationwide sales network [3] Group 3 - The number of stores has shown continuous growth, with a total of 3,585 stores nationwide as of June 30, 2025, an increase of nearly 1,000 from 2,613 at the beginning of 2022 [3] - The proportion of franchised stores has significantly increased, rising from 2,203 at the beginning of 2022 to 3,341, indicating the effective implementation of the company's light-asset expansion strategy [3] - This franchising-focused expansion model reduces operational costs while accelerating market penetration efficiency [3]

配售事项的所得款项净额约为港币1352万元。公司拟将约港币1352万元用作本集团的一般营运资金，用 于支付集团的员工成本、专业费用、租金及一般行政及营运开支。 格隆汇10月28日丨中国上城(02330.HK)发布公告，配售协议所载的所有条件已获达成，而配售事项已于 2025年10月28日完成。合共7547.43万股配售股份已成功由配售代理根据配售协议的条款及条件按每股 配售股份0.180港元的配售价配售予三位承配人，占公司紧接配售事项后经配发及发行配售股份扩大的 已发行股本约16.67%。 ...

格隆汇10月28日丨鸿盛昌资源(01850.HK)公布，于2025年10月28日或前后，公司接获王乐日期为2025年 10月27日的函件，要求公司董事会根据公司的公司细则第58条召开公司股东特别大会，藉以考虑及酌情 通过以下决议案为公司普通决议案： 1.「动议根据公司之公司细则第83(5)条谨此撤销李俊衡担任公司执行董事职务，自本决议案获通过後即 时生效。」 2.「动议根据公司之公司细则第83(5)条谨此撤销邹艺娬担任公司执行董事职务，自本决议案获通过後即 时生效。」 6.「动议根据公司之公司细则第83(5)条谨此撤销宣超慧担任公司独立非执行董事职务，自本决议案获通 过後即时生效。」 7.「动议谨此撤销于日期为2025年10月27日有关召开股东特别大会的要求通知至股东特别大会日期之间 获委任加入公司董事会的各位公司董事(惟将于股东特别大会上获委任为公司董事之人士除外)担任公司 董事职务，自本决议案获通过後即时生效。」 8.「动议根据公司之公司细则第83(6)条谨此委任王乐担任公司执行董事职务，自本决议案获通过後即时 生效。」 9.「动议根据公司之公司细则第83(6)条谨此委任叶丽平担任公司独立非执行董事职务， ...

Core Viewpoint - The company reported a significant decline in revenue and profit for the nine months ending September 30, 2025, primarily due to decreased sales in intravenous infusion and ampoule injection products, alongside intensified price pressures from expanded procurement initiatives and increased competition in the industry [1] Financial Performance - The company's unaudited revenue for the nine months ending September 30, 2025, was approximately HKD 3.102 billion, representing a year-on-year decrease of 31.6% [1] - The unaudited gross profit for the same period was approximately HKD 1.294 billion, down 46.1% year-on-year, with a gross profit margin of 41.7%, a decline of 11.3 percentage points compared to the previous year [1] - The unaudited profit attributable to shareholders for the nine months was approximately HKD 399 million, reflecting a year-on-year decrease of 56.6% [1]

国富量子(00290)发布公告，自2025年10月28日起生效：陈健生先生因决定退休，已提出辞任独立非执 行董事，彼将不再担任董事会主席、董事会提名委员会主席、董事会审核委员会及董事会薪酬委员会各 自的成员以及公司根据香港联合交易所有限公司证券上市规则第3.05条所设立的授权代表。执行董事孙 青女士已获调任为董事会主席;孙青女士亦已获委任为授权代表、提名委员会主席。 ...