Core Viewpoint - Lenovo Group is committed to exploring a new paradigm of industry-university-research collaboration to accelerate the commercialization of scientific research results and achieve a win-win situation between industry and academia [1][12]. Group 1: Event Overview - Lenovo held the first Industry-University-Research Cooperation Forum and Outstanding Achievement Award Ceremony on May 7 during the Lenovo 2025 Innovation Technology Conference in Shanghai, themed "Leading New Industry-University-Research Cooperation, Supporting the New Decade of AI" [1][12]. Group 2: Awarded Projects - Three projects received the "Outstanding Cooperation Achievement Award": 1. High-brightness magnesium alloy in collaboration with Shanghai Jiao Tong University, which has achieved ten times the corrosion resistance of traditional magnesium alloys and a 30% weight reduction compared to traditional aluminum alloys [3][5]. 2. Hybrid cloud root cause positioning and trend prediction, which has been applied to Lenovo's global data centers and smart cloud products [7]. 3. Human-aligned common technology based on large language models, which has created several industry-first records [9]. Group 3: Technological Innovations - The high-brightness magnesium alloy project has been successfully registered as the first national standard in its field and is used in Lenovo's ThinkBook X and YogaBook 9i laptops, as well as in the SJTU Siyuan II lunar satellite [5]. - The hybrid cloud project has made breakthroughs in private cloud architecture design and operational strategy planning, enhancing the planning capabilities and fault diagnosis levels of Lenovo's smart cloud products [7]. - The large language model project has developed a framework for adaptive instruction data generation and fine-tuning, improving task understanding and instruction following capabilities [9]. Group 4: New Paradigm of Cooperation - Lenovo's new paradigm of industry-university-research collaboration is characterized by four "new" aspects: seizing new opportunities in AI, strengthening the role of "new chain leaders," reshaping relationships between partners, and aiming for new peaks in technological achievements [13][15]. Group 5: Recognition and Support - Lenovo awarded the "Best Cooperation Partner Award" to several institutions, including Shanghai Jiao Tong University and Tsinghua University, to recognize their contributions [14]. - Each awarded project team received funding from the Next Big Exploration Fund to support further research [9].

Group 1 - The core point of the article is that Far East Horizon (03360) announced a strategic acquisition of an 80% stake in TH Tong Heng Machinery Sdn. Bhd. for approximately 176 million MYR (around 299 million RMB) to enhance its market position in Southeast Asia [1][2] - The acquisition will allow Far East Horizon to integrate a mature sales and distribution network in Malaysia, expanding its overseas asset base and customer reach [2] - The transaction is expected to create synergies with the existing operations in Malaysia, enhancing the overall product supply and distribution capabilities of the company [2][3] Group 2 - The buyer, Horizon Construction Development Investment (HongKong) Limited, has entered into a share subscription agreement with the sellers, Chan Heng Choy and How Mee Cheng, to acquire the shares [1] - A shareholder agreement was also established, granting the buyer options to purchase the remaining 20% equity from Chan Heng Choy [2] - The board believes that this transaction will enhance the operational advantages of the group and align with the overall interests of the company and its shareholders [3]

Core Insights - A significant event occurred as BeeQiao Capital liquidated its entire stake in Pop Mart, cashing out approximately HKD 2.2 billion [2] - The founder of BeeQiao Capital, Tu Zheng, was one of the earliest investors to recognize the potential of Pop Mart [2][4] - Pop Mart's stock has seen a dramatic increase since its IPO, with a maximum rise of over 10 times, and its current market capitalization stands at HKD 240 billion [4] Company Performance - Pop Mart reported a revenue of CNY 13.04 billion for 2024, marking a year-on-year growth of 106.9%, with a net profit of CNY 3.4 billion, up 185.9% [5] - The revenue from mainland China reached CNY 7.97 billion, a 52.3% increase, while overseas and Hong Kong/Macau revenue surged to CNY 5.07 billion, growing by 375.2% [5] - In Q1 2025, Pop Mart's revenue is projected to grow by 165%-170%, with mainland revenue increasing by 95%-100% and overseas revenue by 475%-480% [5] Investment Background - Tu Zheng's initial investment in Pop Mart was made at an estimated valuation of CNY 80 million, where he invested CNY 6 million [4] - After the establishment of BeeQiao Capital in 2018, it collaborated with other investors to inject CNY 40 million into Pop Mart [4] - The decision to liquidate the stake coincided with Pop Mart's peak performance since its inception [4]

Core Points - The China Securities Index for Hong Kong Stock Connect Real Estate has shown significant growth, with a 9.35% increase over the past month, 7.83% over the last three months, and a 3.95% rise year-to-date [2]. Group 1: Index Performance - The current value of the China Securities Index for Hong Kong Stock Connect Real Estate is reported at 1488.12 points [1]. - The index was established on November 14, 2014, with a base value of 3000.0 points [2]. Group 2: Index Composition - The index includes a maximum of 50 eligible Hong Kong-listed companies that reflect the real estate theme [2]. - The top ten weighted companies in the index are: - Sun Hung Kai Properties (14.39%) - China Resources Land (12.18%) - Cheung Kong Property (8.91%) - China Overseas Land & Investment (7.68%) - Sino Land (4.76%) - Wharf Real Estate Investment (4.51%) - Henderson Land Development (4.28%) - Longfor Group (3.65%) - China Resources Mixc Lifestyle (3.3%) - Wharf Holdings (3.09%) [2]. Group 3: Sector Allocation - The index's holdings are entirely composed of companies listed on the Hong Kong Stock Exchange [3]. - The sector breakdown of the index holdings is as follows: - Real Estate Development: 77.56% - Real Estate Management: 11.73% - Real Estate Services: 10.71% [3]. Group 4: Index Adjustment Mechanism - The index samples are adjusted biannually, specifically on the next trading day after the second Friday of June and December [3]. - In special circumstances, the index may undergo temporary adjustments, such as when a sample company is delisted or when new companies meet the eligibility criteria for inclusion [3].

Group 1: New Market Entries and Performance - The new tea beverage brand, Hu Shang A Yi, debuted on the Hong Kong Stock Exchange with a first-day opening increase of 68.49%, reaching HKD 190.6, and achieving a market capitalization of HKD 19.523 billion [1] - Hu Shang A Yi's IPO saw a global offering of 2.4113 million H shares, with the public offering being oversubscribed by 3,616.83 times, marking it as the second-highest in the new tea beverage sector after Mi Xue Group [1] - The company plans to use the IPO proceeds for digital upgrades, product development, and supply chain enhancement while expanding into lower-tier cities [1] Group 2: Industry Growth and Market Dynamics - The beverage consumption in China is significantly influenced by national consumer spending power, with GDP expected to grow steadily, leading to increased market demand for the beverage industry [2] - The third and fourth-tier markets in China are still in the brand consumption phase, providing ample growth opportunities for the industry [2] Group 3: Company Developments and Collaborations - WinnCafe, a coffee brand utilizing AI technology, successfully secured several million in angel funding, which will be allocated for technology development, business construction, and brand promotion [3] - Hai Rong Technology has established business relationships with several tea beverage clients, providing customized products and services to meet market demands [7] - Hengxin Life confirmed that Mi Xue Bing Cheng is one of its clients, primarily collaborating in the areas of paper and plastic products [8] Group 4: International Expansion - Nai Xue's Tea is set to open its first U.S. store under the name "Naisnow" in Flushing, New York, targeting a diverse consumer base with a daily foot traffic of over 100,000 [4] - The U.S. tea beverage market is experiencing a compound annual growth rate of 7.42%, but competition remains fierce with established brands like Starbucks holding a 35% market share [4]

5月8日，沪上阿姨正式在港交所挂牌。沪上阿姨每股发行价为113.12港元，募资净额约为1.95亿港元， 上市首日开盘价190.6港元/股，较发行价上涨68.48%。 2025年新茶饮迎来了上市的好时候，继奈雪的茶、茶百道、古茗、蜜雪冰城成功上市后，沪上阿姨成为 港股市场上的第五家新式茶饮品牌。沪上阿姨发行估值要远远高于蜜雪集团。蜜雪集团发行市值达到 763亿港元，估值为16倍。蜜雪集团获得超过1.84万亿港元认购金额。而沪上阿姨的发行市值约为118.6 亿港元，估值33.58倍。沪上阿姨5月2日截止新股招股认购，其融资超购逾3300倍，冻资约940亿港元。 这不仅是资本市场对下沉市场红利的集体投票，更折射出新茶饮行业从"规模竞速"转向"生态博弈"的深 层逻辑。相较于霸王茶姬以"东方美学+全球化叙事"抢占高端心智，沪上阿姨也丝毫不落于后，以"摩登 东方"美学与猎豹IP的塑造，打破传统茶饮品牌形象同质化，通过也精准捕捉Z世代对"国潮轻奢"的消费 想象。 据招股书，在过去的2022年、2023年和2024年，沪上阿姨的营业收入分别为人民币21.99亿、33.48亿和 32.85亿元，相应的净利润分别为人民币1.49 ...

Core Insights - On May 8, Li Auto-W made its first appearance on the Hong Kong Stock Connect active trading list in a month, with a trading volume of 21.02 billion HKD and a net sell of 1.34 billion HKD, closing up 4.96% [2][3] - The total trading volume of active stocks on the Hong Kong Stock Connect reached 314.80 billion HKD, accounting for 39.02% of the day's total trading amount, with a net sell of 36.80 billion HKD [2] - Xiaomi Group-W led the trading volume among active stocks with 57.05 billion HKD, followed by Alibaba-W and SMIC with 45.77 billion HKD and 41.01 billion HKD respectively [2] Trading Activity Summary - The most frequently listed stocks in the past month include Alibaba-W and Meituan-W, each appearing 17 times, indicating strong interest from Hong Kong Stock Connect funds [2] - Other notable stocks include Tencent Holdings with a trading volume of 38.42 billion HKD and a net sell of 11.80 billion HKD, and SMIC with a trading volume of 41.01 billion HKD and a net sell of 6.97 billion HKD [2] - The trading performance of various stocks on May 8 shows mixed results, with some stocks like Li Auto-W experiencing gains while others like Pop Mart and Shandong Molong faced declines [2]

吉利汽车：极氪已就对极氪私有化建议之非约束性报价函向美国证券交易委员会递交表格6-K。 ...

沪上阿姨登陆港 股，市值一度突 破200亿港元_南 方+_南方plus 时隔2个月，新 茶饮上市赛道又 迎一员。5月8 日，沪上阿姨登 陆港交所，以 190.6港元/股开 盘，最高涨至 197.6港元/股， 较招股价大涨 74.68%，市值一 度突破200亿港 元。 招股书显示， IPO所得资金预 计将用于提升数 字化能力、产品 研发、升级机器 设备、强化供应 链、提升品牌势 能、投资营销活 动等方面，同时 继续深耕现有市 场，并计划将业 务扩展至更多三 线及以下城市。 获超3600倍认 购，人气紧 跟"雪王" 今年以来，蜜雪 冰城、古茗、霸 王茶姬相继登陆 资本市场，再加 上2021年上市的 奈雪的茶、2024 年上市的茶百 道，沪上阿姨成 为第六家上市的 新茶饮品牌。除 霸王茶姬在美股 上市外，其余新 茶饮品牌均在港 股市场交易。 实际上，自4月 28日启动招股 后，投资者对沪 上阿姨的打新热 情便不断攀升。 5月7日晚间，沪 上阿姨公布配发 结果：在本次 IPO发行中总计 发行241.134万 股H股，其中， 香港公开发售获 3616.83倍认 购，国际发售获 2.57倍认购。 据了解，此前在 港股上市 ...

Group 1 - The core index, the China Securities Hong Kong Dividend Equal Weight Index (HK Dividend EW), reported a value of 2925.69 points, showing a monthly increase of 10.78%, a three-month increase of 5.02%, and a year-to-date increase of 3.83% [1] - The index consists of 30 securities selected from the Hong Kong Stock Connect, characterized by high cash dividend yields, stable dividends, and certain liquidity, calculated using equal weight to reflect the overall performance of high dividend yield securities [1] - The index's top ten holdings include China Unicom (4.23%), China People's Insurance Group (3.95%), CITIC Bank (3.94%), China Telecom (3.9%), Bank of China (3.82%), Minsheng Bank (3.82%), Yuehai Investment (3.82%), Bank of Communications (3.78%), Agricultural Bank of China (3.7%), and China Mobile (3.68%) [1] Group 2 - The industry composition of the index holdings shows that finance accounts for 36.88%, energy for 20.24%, industrials for 12.68%, communication services for 11.81%, materials for 9.32%, real estate for 5.25%, and utilities for 3.82% [2] - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December, with a sample adjustment ratio generally not exceeding 20% [2] - In special circumstances, the index may undergo temporary adjustments, such as when a sample security is delisted or undergoes mergers, acquisitions, or splits [2]