Group 1: Market Activity - Net inflows into various stocks include 791 million HKD into the Tracker Fund, 747 million HKD into Tencent, and 523 million HKD into Meituan, while net outflows include 792 million HKD from SMIC and 520 million HKD from Xiaomi [1] - Southbound funds have continuously net bought Meituan for 8 days, totaling 5.20617 billion HKD, and China National Offshore Oil Corporation (CNOOC) for 8 days, totaling 3.79839 billion HKD [1] Group 2: Stock Performance - Alibaba saw a decrease of 1.6% with a net outflow of 200 million HKD, while SMIC dropped by 4.5% with a net inflow of 265 million HKD [4] - Tencent experienced a slight increase of 0.4% with a net inflow of 275 million HKD, and Meituan rose by 0.6% with a net inflow of 312 million HKD [4] Group 3: Company Developments - Tencent is recommended as a top pick in the internet services sector due to its limited revenue exposure in the U.S. and potential benefits from domestic consumption stimulus policies [5] - Meituan launched a new instant retail brand "Meituan Flash Purchase," aimed at meeting daily shopping needs for consumers across nearly 3,000 regions in China [5] - China Mobile has launched the first "Four-in-One" computing power network scheduling platform, enhancing efficiency by 20% and supporting a significant scale of computing power [6] Group 4: Industry Insights - The long-term outlook for gold investment is positive due to increasing political instability in the U.S. and the weakening of the dollar's credit and international status [6]

强制收购将于2025年4月17日完成，届时于2025年4月16日名列本公司股东名册的股东(余下股份持有人) 将所有余下要约股份转让予华瑞予以登记。务请余下少数股东(或(视情况而定)其继承人)注意，彼等将 于强制收购完成后方可就余下要约股份收取强制收购代价(该笔金额须经扣除卖方从价印花税(按相关代 价0.1%计算)后支付)。应付余下少数股东(或(视情况而定)其继承人)的强制收购代价(经扣除卖方从价印 花税，按相关代价0.1%计算)将由华瑞支付予本公司，而非直接支付予余下少数股东(或(视情况而定)其 继承人)，而本公司须将该款项存入单独的银行账户，直至本公司根据法定程序或按公司条例准许的其 他方式向余下少数股东(或(视情况而定)其继承人)悉数支付上述款项为止。 联交所已根据上市规则第6.15条批准撤销股份于联交所的上市地位。股份于联交所的上市地位将自2025 年4月22日(星期二)上午九时正起撤销。 智通财经APP讯，中粮包装(00906)与要约人华瑞凤泉发展有限公司联合公布，强制收购通知已于2025年 2月13日寄发予余下少数股东。诚如寄发公告所述，余下少数股东有权在强制收购通知发出之日起计两 个月内提出异议申 ...

- 净利润攀升22.96%，全年派息比率约为31% - 集信国控业绩飙升，与国企实现跨区域合作，启动增长新引擎 投资亮点 - 业绩高速增长，收入及利润大幅攀升 - 积极拓展市场版图，跨区域与佛山市高明区国企合作成立子公司 - 持续优化服务，把握市场机遇 - 行业前景可期，政策助力发展 竞争优势 - 资金端政策红利，助力公司业务拓展 - 房地产行业转型，带来新的业务增长点 一、业绩高速增长，收入及利润大幅攀升 于回顾年内，公司业绩表现卓越，收入及利润均录得显著增长。 公司收入大幅提升至约人民币55.26百 万元，较去年的人民币41.50百万元增长33.16%，年内利润较去年的人民币13.25百万元增长22.96%至约 人民币16.30百万元。 这充分展现了公司在检测认证行业的强劲竞争力和卓越的市场表现。 公司通过不 断拓展业务领域、提升服务质量和效率，成功把握市场机遇，實現了收入和利潤的雙豐收。 公司每股基本盈利为人民币0.61元。 为让股东们能一起分享成果，董事会建议派发末期股息每股人民币 0.15元（含适用税项）。 全年派息合共约人民币5.09百万元，全年派息比率约为31%。 业务回顾 公司的收入主要来自提 ...

Core Viewpoint - The collectible card company, Kayo, has updated its prospectus after more than a year, showcasing significant revenue growth and profitability despite challenges related to IP dependency and market fluctuations [1] Financial Performance - In 2024, Kayo achieved revenue of 10.057 billion yuan, a year-on-year increase of 280% [2] - The adjusted net profit reached 4.466 billion yuan, reflecting a year-on-year growth of 380% [2] - Kayo's gross margin for collectible cards is as high as 70%, contributing to a net profit margin exceeding 40% [2] - Kayo's profitability has surpassed that of the popular Hong Kong stock, Pop Mart, generating 1 billion yuan more in profit with 3 billion yuan less in revenue [2] IP Dependency and Market Dynamics - Kayo has successfully leveraged popular IPs like My Little Pony, which has expanded its audience from elementary school students to young professionals [2] - Despite the success, Kayo remains dependent on external IPs, facing challenges such as a copyright dispute over "Classic Ultraman" that resulted in a loss [2] - In 2023, Kayo's revenue declined by 45.24% to 2.262 billion yuan due to adjustments in its IP matrix [2] - Currently, 10 out of 70 IPs have generated over 100 million yuan in revenue, with the top five IPs contributing 86.1% of total revenue [2] Product Diversification - Kayo is working to optimize its product structure and reduce reliance on major products, with over 80% of its revenue coming from collectible cards, stable compared to the previous year [2] - Revenue from peripheral products, including badges and card collections, reached 1.023 billion yuan, increasing by 6.2 percentage points to 10.2% of total revenue [3] - The revenue from stationery products, which are popular among middle and primary school students, doubled to 513 million yuan in 2024 [4] Profitability of Peripheral Products - The gross margins for peripheral and stationery products are relatively lower at 57.1% and 39.4%, respectively, compared to the high margins of collectible cards [5]

Core Viewpoint - Tencent Music's board of directors will review and vote on the company's unaudited performance for the three months ending March 31, 2025, on May 12, 2025 [1] Group 1 - The board meeting is scheduled for May 12, 2025 [1] - The meeting will include the review of the first quarter performance announcement [1]

就在4月14日，江苏正力新能电池技术股份有限公司(股票代码：03677.HK)正式在港交所主板挂牌上 市，首发募集资金10.05亿港元。 正力新能成立于2019年，主要专注于动力电池产品、储能电池产品及航空电池产品的研发、生产及销 售，为客户提供电芯、模组、电池包、电池簇、电池管理系统的一体化方案，致力于拓展电化学产品在 陆海空互联下的大规模应用。 成立以来，正力新能为包括油电混合动力在内的全场景、多路径的全球出行领域客户提供高品质的动力 电池产品，配套规模累计接近400万台，是国内动力电池装机量长期稳居行业前十的最年轻企业。 映恩生物是一家临床阶段的创新生物药企，专注于为癌症和自身免疫性疾病患者研发新一代抗体偶联药 物(ADC)。映恩生物已成功构建了多个具有全球知识产权的新一代ADC技术平台。基于对疾病生物学机 制的深入研究和探索，映恩生物拥有丰富的临床ADC研发管线，并在超过17个国家开展多个全球多中 心临床试验，入组超过2000名患者。 同时，映恩生物与全球制药公司和顶尖创新药企达成多项海外授权合作。作为全球ADC创新引擎，映 恩生物持续开发下一代新型ADC，包括双抗ADC、全新机制载荷ADC和自免AD ...

Group 1 - The core viewpoint of UBS indicates a continuous decline in China's dairy cow inventory, with a year-on-year decrease of 5.7% and a month-on-month decrease of 0.5%, reaching 6.09 million heads as of March 2025 [1] - The profitability of dairy farming is under pressure, with approximately 93% of farming groups operating at a loss, an increase of 4 percentage points from the previous month, resulting in a milk production profit of -0.36 yuan per kilogram, which is a deterioration of 0.14 yuan month-on-month [1] - Major dairy companies, including Yili and Feihe, have announced fertility subsidy plans in response to national policies, with Yili providing 1.6 billion yuan and Feihe 1.2 billion yuan to support families preparing for childbirth [2] Group 2 - The demand for dairy products remains weak, with retail sales continuing to decline year-on-year in the first quarter of 2025 [2] - The price of raw milk has slightly decreased to 3.07 yuan per kilogram, reflecting a month-on-month decline of 0.3% and a year-on-year decline of 12% [3] - The cost pressures from soybean meal have eased due to sufficient supply from South America, although recent tariffs on U.S. agricultural imports may create upward pressure on soybean meal and alfalfa prices [3]

与国内电池回收市场不同，海外市场的产业体系相对成熟，回收渠道在整个回收链条中扮演着重要角 色，因此海外回收市场素有"得渠道者得天下"之称。且由于回收渠道的搭建投资大、建设周期长等特 点，不利于快速拓展，因此国内锂电池厂商及储能制造商在出海时往往选择与拥有丰富回收渠道及强大 运营实力的公司进行合作。 而于全球28个国家拥有超过70个服务网点及本地业务的晋景新能便成为了国内锂电池厂商及储能制造商 出海时首选的合作对象，国轩高科、晶科储能纷纷展开与晋景新能的合作便是基于此产业逻辑。 而此次晋景新能与晶科储能签署的谅解备忘录主要涉及两个方面，其一是双方将在全球回收市场展开合 作，专注于建立全面的回收网络，晋景新能将向晶科储能开放其全球回收网点，促进双方资源共享，最 大限度地提高双方的营运效率及在全球回收市场的影响;其二是未来双方在全球范围内探索特定战略市 场的合作机会，以实现全球伙伴关系。 虽然更多的合作机会需要在未来进一步探讨，但二者全球伙伴关系的定调意味着这是双方全球深度战略 合作的开始，且晶科能源在储能方面的高速扩张计划将让晋景新能电池回收业务的未来发展充满想象空 间。 作为光伏组件领域的龙头企业，晶科能源20 ...

智通财经4月15日电，香港交易所信息显示，摩根大通在友邦保险的持股比例于04月09日从7.06%降至 6.98%，平均股价为49.9479港元。 ...

智通财经4月15日电，香港交易所信息显示，摩根大通在中国财险的持股比例于04月09日从6.96%升至 7.03%，平均股价为13.2900港元。 ...