Core Viewpoint - The report from CMB International indicates a slight recovery in consumption in 2025, with moderate growth expected to continue into 2026. The current consumer market is undergoing multi-dimensional changes, primarily shifting towards a consumer-centric approach. The key drivers of current consumption decisions are value for money and emotional value, which provide important directions for companies in product innovation and brand establishment [1]. Group 1: Investment Strategy - The company suggests adopting a balanced strategy focusing on three types of enterprises: - The first category includes companies benefiting from supply-demand improvements and expected to release profit elasticity through efficiency enhancements, such as Shenzhou International (02313), rated "Buy" [1]. - The second category consists of nimble companies that capture consumer trends and possess rapid growth potential, such as Pop Mart (09992) and Miniso (09896), both rated "Buy" [1]. - The third category includes industry leaders with a solid growth foundation, strong competitive advantages, and cyclical resilience, such as Anta Sports (02020) and China Resources Beer (00291), both rated "Buy" [1].

Group 1 - The Hang Seng Index opened down 0.44%, and the Hang Seng Tech Index fell by 0.51%. The new energy vehicle sector continued its downward trend, with Xpeng Motors (09868) dropping by 2.6%. Meanwhile, the new Hong Kong stock LeMo Technology opened up 62%, trading at HKD 64.8, compared to its issue price of HKD 40 [1] - According to CMB International, domestic demand policies are being promoted, and the market is focusing on the "New Year Opening" expectations. After a consolidation phase in November, the Hong Kong stock market is expected to welcome a layout window for the year-end rally in December. Attention is shifting from external environments to internal policies, particularly the Central Economic Work Conference scheduled for mid-December, which is expected to further detail the "14th Five-Year Plan" and set the fiscal tone for 2026 [1] - China Galaxy stated that as the year-end approaches, market risk appetite is becoming cautious, and the Hong Kong stock market may continue its volatile trend. Suggested sectors to watch include: (1) cyclical stocks that may continue to rebound due to changes in supply-demand dynamics and rising downstream commodity prices; (2) defensive dividend stocks as market risk appetite declines; (3) the positive development of China-U.S. trade relations, which is beneficial for overseas sectors in the medium to long term [1] Group 2 - GF Securities noted that historical data shows the Hong Kong Stock Connect High Dividend Total Return Index is about to enter a period (from December to mid-January) where calendar effects are most significant. The probability of achieving absolute and excess returns during this period is relatively high, and the performance of returns is expected to be considerable. In the current market environment, focusing on the allocation opportunities in the Hong Kong Stock Connect high dividend sector may become an effective strategy for investors to enhance year-end and early-year returns [1][2]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年11月30日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 交銀國際控股有限公司 | | | 呈交日期: | 2025年12月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 (A). 股份期權（根據發行人的股份期權計劃） 不適用 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03329 | 說明 | 不適用 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 2,734,392,000 | | 0 | | 2,734 ...

The EGM will be held at Conference Room 1, 9/F, Man Yee Building, 68 Des Voeux Road Central, Hong Kong and online through online platform on Wednesday, 17 December 2025 at 11:00 a.m.. The EGM will be a hybrid meeting. Shareholders have the option of attending, participating and voting in the EGM through the online platform. Shareholders attending the EGM using the online platform will also be counted towards the quorum and they will be able to cast their votes and submit questions through the online platfor ...

N O T I F I C AT I O N L E T T E R 通 知 信 函 Dear Non-registered Shareholders(Note 1) , BOCOM International Holdings Company Limited (the "Company") – Publication of the Circular dated 28 November 2025 containing Notice of Extraordinary General Meeting (the "Current Corporate Communications") The Current Corporate Communications of the Company have been published in English and Chinese languages and are available on the Company's website at www.bocomgroup.com and the HKEXnews's website at www.hkexnews.hk. If ...

N O T I F I C AT I O N L E T T E R 通 知 信 函 Dear Registered Shareholders, 28 November 2025 BOCOM International Holdings Company Limited (the "Company") – Publication of the Circular dated 28 November 2025 containing Notice of Extraordinary General Meeting together with Proxy Form (the "Current Corporate Communications") The Current Corporate Communications of the Company have been published in English and Chinese languages and are available on the Company's website at www.bocomgroup.com and the HKEXnews's we ...

BOCOM INTERNATIONAL HOLDINGS COMPANY LIMITED （於香港註冊成立的有限公司） （股份代號：3329） 於2025年12月17日（星期三）舉行之股東特別大會及其任何續會之代表委任表格 本人╱吾等 （附註1） 地址為 為交銀國際控股有限公司（「本公司」） 股普通股的登記持有人 （附註2） ， 茲委任大會主席或 （附註3） 地址為 郵箱地址 （附註11） 為 為本人╱吾等的代表，代表本人╱吾等出席將於2025年12月17日（星期三）上午十一時正假座香港德輔道中68號萬宜大廈 9樓1號會議室及通過網上平台 https://meetings.computershare.com/BOCOMI_2025EGM2 舉行的本公司股東特別大會（「股東 特別大會」）（及其任何續會）以考慮並酌情通過召開股東特別大會通告（「通告」）所載之下列決議案，並依照下列指示代表本 人╱吾等在股東特別大會及其任何續會上投票，倘無作出任何指示，則本人╱吾等之受委代表可自行酌情投票。 | | 普通決議案 | （附註4） 贊成 | （附註4） 反對 | | --- | --- | --- | --- | | 1 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通告全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 BOCOM INTERNATIONAL HOLDINGS COMPANY LIMITED 交銀國際控股有限公司 （於香港註冊成立的有限公司） （股份代號：3329） 股東特別大會通告 茲通告交銀國際控股有限公司（「本公司」）謹訂於2025 年 1 2 月 1 7 日（星期 三）上午十一時正假座香港德輔道中6 8 號萬宜大廈9 樓 1 號會議室及通過網上平 台 https://meetings.computershare.com/BOCOMI_2025EGM2 舉行股東特別大會（「股東 特別大會」），旨在考慮及酌情通過下列決議案（不論有否予以修訂）。本股東特別大會 通告未明確界定之詞彙及表達與本公司日期為2025年11月28日的通函（「該通函」）所界 定者具有相同涵義。 普通決議案 – 1 – 1. 「動議： (a) 謹此於所有方面批准、追認及確認自動重續物業租賃框架協議的年期至截 至2028年12月31 ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之持牌證券交易商、註冊證券機構、銀行經理、 律師、專業會計師或其他專業顧問獲取獨立意見。 閣下如已將名下之交銀國際控股有限公司的全部股份出售或轉讓，應立即將本通函及隨附之代表委任表格送交買主或 承讓人，或經手買賣或轉讓之銀行經理、持牌證券交易商或註冊證券機構或其他代理商，以便轉交買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函的內容概不負責，對其準確性或完整性亦不發表任何 聲明，並明確表示，概不對因本通函全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 BOCOM INTERNATIONAL HOLDINGS COMPANY LIMITED （於香港註冊成立的有限公司） （股份代號：3329） (1)有關自動重續物業租賃框架協議 及新持續關連交易框架協議 之持續關連交易； 及 (2)股東特別大會通告 獨立董事委員會及獨立股東之 獨立財務顧問 ALTUS CAPITAL LIMITED 浩德融資有限公司 除文義另有所指外，本封面頁所使用詞彙與本通函所界定者具有相同涵義。 董事會函件載於本 ...

Core Viewpoint - The report from CMB International maintains a target price of HKD 62.7 for NIO-SW (09866) in Hong Kong and USD 8 in the US, with a "Buy" rating, citing strong gross margin performance in Q3 2025 and historic high guidance for Q4 [1] Group 1: Financial Performance - NIO's Q3 total revenue reached RMB 21.79 billion, a year-on-year increase of 16.7% and a quarter-on-quarter increase of 14.7%, aligning with the upper limit of previous guidance [1] - The gross margin for vehicles improved significantly to 14.7% in Q3, up from 10.3% in Q2, while the overall gross margin rose to 13.9%, marking a three-year high [1] - The company provided guidance for Q4 deliveries of 120,000 to 125,000 units, representing a year-on-year increase of 65% to 72%, with projected revenue between RMB 32.76 billion and RMB 34.04 billion [1] Group 2: Future Outlook - For 2026, the company plans to enter a strong product cycle with the launch of three new large SUVs, aiming to establish a high-end product matrix of five large vehicles [2] - The company targets adjusted profitability and stable vehicle gross margins above 20% for the full year of 2026 [2] - In the overseas market, the company will shift to a "partner" model to reduce capital expenditures and establish a joint venture for chip development to explore new avenues for technology monetization [2]