Core Viewpoint - Three D Partners Limited has purchased a total of 107 million shares of Zhitong Technology (09911.HK) from the market between April 28, 2023, and November 19, 2025, followed by an additional purchase of 2.05 million shares during the period from November 20 to November 26, 2025 [1] Summary by Relevant Sections - **Share Purchase Details** - Three D Partners Limited acquired 107 million shares from April 28, 2023, to November 19, 2025 [1] - An additional 2.05 million shares were purchased from November 20 to November 26, 2025 [1]

Core Viewpoint - Three D Partners Limited has acquired a total of 107 million shares from the market between April 28, 2023, and November 19, 2025, indicating a significant investment in the company [1] - Additionally, Three D Partners Limited plans to purchase an additional 2.052 million shares from November 20 to November 26, 2025, suggesting ongoing confidence in the company's future performance [1] Summary by Relevant Sections - **Share Acquisition** - Three D Partners Limited purchased a total of 107 million shares from the market during the specified period [1] - An additional purchase of 2.052 million shares is planned for the following week [1] - **Holding Period** - The shares acquired will be held until they vest under the restricted share unit award plan [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公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公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。 NEWBORN TOWN INC. 赤子城科技有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9911） 自願公告 根據受限制股份單位獎勵計劃購買股份 茲提述赤子城科技有限公司（「本公司」）於2023年4月27日就其有意向受限制股份 單位受託人及Three D Partners Limited提供資金，以根據受限制股份單位獎勵計 劃從市場按現行市價購買本公司股份作出的公告以及本公司分別於2023年4月28 日、2023年5月5日、2023年5月12日、2023年5月19日、2023年5月25日、2023 年6月2日、2023年6月9日、2023年6月16日、2023年6月23日、2023年6月30 日、2023年7月7日、2023年7月14日、2023年7月21日、2024年1月18日、2024 年7月17日、2024年7月19日、2024年7月24日、2024年7月26日、2024年10月4 日 ...

长桥证券（香港）持有赤子城科技最近1年来持股变化图中显示，最近半年，通过长桥证券（香港）操 作的资金，在股价冲高时减仓，在股价回调时买入，做了一套清晰的逆向操作，动作迅速不拖泥带水。 作为中东社交泛娱乐头部公司，赤子城科技日前获得了花旗的首次覆盖。花旗研报指出，公司强劲的增 长得益于几个方面支撑：一是"产品复制"策略的成功；二是全球业务尤其是在中东北非、东南亚地区的 稳固增长；三是游戏、社交电商和短剧的潜在增长；四是战略投资得到了很好验证；五是AI对业务的 赋能。 此外，摩根士丹利国际、UBS SECURITIES (HK) LTD 席位亦增持了赤子城科技 79.48 万股和 22.83 万 股。 上述 5 个席位，期内合计买入 1399.09 万股赤子城科技股份。 业内人士分析，国际资金选择在最近两周内增持，或与股价低估有关。 除国际资本外，还有港资最近通过长桥证券（香港）增持了赤子城科技。11 月 7 日至 11 月 21 日，该 席位持仓从 117.20 万股，提升至 126.80 万股。持仓量接近 1 年以来的高点。 根据 龙虎榜数据，过去两周间（11 月 7 日至 11 月 21 日），有国际资本通 ...

Group 1: Overall Strategy and Market Trends - The report highlights a dual-driven strategy where technology and cyclical sectors are rebalancing, with opportunities in the chemical industry emerging under the "anti-involution" trend [7][8] - The A-share market is experiencing accelerated capacity clearance, indicating a turning point for cyclical industries, particularly in chemicals, which show significant advantages over traditional sectors like steel and coal [8][9] - The chemical industry is expected to enter a new prosperity cycle driven by supply-demand recovery and anti-involution policies, with a notable decrease in capital expenditure and a resilient export market [9][10] Group 2: Industry-Specific Insights - The military industry is currently facing high valuations, with a PE-TTM of 67.34, indicating a slight decrease from previous weeks, while geopolitical uncertainties are expected to accelerate military orders [13][14] - The real estate sector shows signs of stabilization, with new home transaction areas increasing month-on-month, supported by government policies aimed at boosting investment and consumption [17][21] - The consumer services sector, particularly in tourism and dining, is witnessing a recovery, with companies like Ctrip and Haidilao reporting strong performance and expansion plans [24][25] Group 3: Company-Specific Developments - Lenovo Group is benefiting from the Windows 11 upgrade cycle, with a projected non-GAAP net profit growth of 21.8% for FY2026, reflecting strong supply chain resilience [29][30] - NetEase is expected to see growth driven by overseas gaming expansion and new game launches, with a projected net profit increase of 31.8% in Q3 2025 [34][35] - Dawi Technology is focusing on AI data centers, with plans to enhance its competitive edge through strategic partnerships and infrastructure development [38][39]

Group 1 - The core point of the article is that Three D Partners Limited has purchased a total of 105,550,000 shares of Zhi Zi Cheng Technology (09911) from the market between April 28, 2023, and April 25, 2025, under a restricted stock unit award plan [1] - Additionally, Three D Partners Limited will acquire another 1,612,000 shares from the market between November 17 and November 19, 2025 [1] - The shares purchased by Three D Partners Limited will be held until they vest according to the restricted stock unit award plan [1]

Core Viewpoint - The company, Zhi Zi Cheng Technology (09911), has announced the purchase of a total of 105,550,000 shares by Three D Partners Limited from the market under a restricted share unit award plan between April 28, 2023, and April 25, 2025, followed by an additional purchase of 1,612,000 shares from November 17 to November 19, 2025 [1] Summary by Relevant Sections - Share Purchase Details - Three D Partners Limited acquired 105,550,000 shares from the market between April 28, 2023, and April 25, 2025 [1] - An additional purchase of 1,612,000 shares occurred from November 17 to November 19, 2025 [1] - Restricted Share Unit Award Plan - The shares purchased will be held by Three D Partners Limited until they vest according to the terms of the restricted share unit award plan [1]

Core Viewpoint - Three D Partners Limited has been actively purchasing shares of Zhi Zi Cheng Technology (09911.HK) from the market, indicating a strategic investment approach by the company [1] Group 1: Share Purchases - From April 28, 2023, to April 25, 2025, Three D Partners Limited purchased a total of 105,550,000 shares [1] - Additionally, from November 17 to November 19, 2025, Three D Partners Limited acquired another 1,612,000 shares [1] - The shares purchased will be held until they vest under the restricted share unit award plan [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公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公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。 於2023年4月28日至2025年4月25日期間，Three D Partners Limited從市場購買 合共105,550,000股股份。此後，於2025年11月17日至11月19日（「相關期間」）， Three D Partners Limited根據股份購買進一步從市場購買合共1,612,000股股份。 Three D Partners Limited將持有根據股份購買所購買的股票，直到其按照受限制 股份單位獎勵計劃歸屬。有關Three D Partners Limited於相關期間相購買及其持 有的股份資料詳情如下： 購買股份總數：1,612,000股股份 購買股份佔目前已發行股份總數的百分比：約0.11% 每股股份平均代價：約9.29港元 購買股份總代價：約14,981,920港元 Three D Partners Limited根據受限制股份單位獎勵計劃所持股份結餘：83,955,403 ...

Core Viewpoint - Citigroup's latest report initiates coverage on Zhibo City Technology Co., Ltd. (09911.HK) with a "Buy" rating, highlighting potential strong seasonal performance in Q4 2025 due to product annual gala and marketing activities [2] Group 1: Factors Driving Future Stock Performance - Four key factors are identified that may drive Zhibo City Technology's future stock performance: 1. Q3 2025 operational data exceeding expectations 2. Stronger seasonal performance in Q4 2025 influenced by annual gala and marketing activities 3. Expected announcement of commercialized new products 4. Potential inclusion in "Hong Kong Stock Connect" [2] Group 2: Revenue Growth and Business Contributions - For the first three quarters of 2025, total revenue is projected to reach between 4.91 billion to 4.99 billion yuan, reflecting a year-on-year growth of 37.6% to 39.9% [2] - The growth in innovative business is attributed to the contribution from "short dramas," with steady revenue growth from traffic monetization, social e-commerce, and the newly contributing short drama business [2] - The global short drama market is experiencing rapid growth, providing a broad development outlook for Zhibo City Technology's short drama business [2] Group 3: Operational Strategies and AI Integration - Zhibo City Technology's strong performance is supported by several factors: 1. Successful "product replication" strategy, particularly with SUGO 2. Solid growth in global markets, especially in the Middle East and North Africa, and Southeast Asia 3. Potential growth in gaming, social e-commerce, and short dramas 4. Validation of strategic investments 5. Empowerment of business through AI [3] - AI technology has been deeply integrated into Zhibo City Technology's operations, enhancing product efficiency through the self-developed multimodal algorithm model Boomiix, which improves social matching efficiency and operational intelligence [3]