Core Insights - The strategic partnership between Zhaojin Mining (01818.HK) and Ant Group's SigmaLayer aims to explore innovations in the gold industry through digitalization, tokenization, intelligent risk control, and ESG applications [1] Company Summary - Zhaojin Mining's stock closed at HKD 29.1 on November 3, 2025, with a slight increase of 0.14% and a trading volume of 16.38 million shares, amounting to a turnover of HKD 468 million [1] - The company has received a majority of "Buy" ratings from investment banks, with six firms issuing buy recommendations in the last 90 days, and an average target price of HKD 31.82 [1] - The latest report from First Shanghai gives Zhaojin Mining a buy rating with a target price of HKD 43.72 [1] Industry Summary - Zhaojin Mining ranks second in the gold industry with a market capitalization of HKD 83.738 billion [2] - Key financial metrics for Zhaojin Mining compared to the industry average include: - ROE: 10.87% vs. industry average of 18.53% - Market capitalization: HKD 83.738 billion vs. industry average of HKD 38.544 billion - Revenue: HKD 13.896 billion vs. industry average of HKD 55.935 billion - Net profit margin: 25.48% vs. industry average of 11.17% - Gross profit margin: 43.74% vs. industry average of 30.19% - Debt ratio: 52.66% vs. industry average of 57.07% [2]

随着全球数字化进程加速，人工智能与区块链技术的融合已成为推动产业发展的关键力量。此次与蚂蚁 数科战略合作，将充分发挥双方各自的优势：蚂蚁数科在人工智能与区块链领域的技术专长，结合集团 在矿业领域的专业经验，共同探讨海外黄金产业数字化升级的新路径。此次战略合作不仅将巩固本集团 在矿业领域的地位，同时亦助力蚂蚁数科深化人工智能及区块链技术应用。预期双方将产生显着的协同 效应，创造新的增长机遇。 根据备忘录，集团与蚂蚁数科将基于区块链及人工智能核心技术的应用，于多个领域建立战略合作关 系，包括构建及探索海外黄金资产数字化与通证化；以AI人工智能驱动的智能供应链与风险控制系 统；以及在可持续发展与环境、社会及管治领域实现可信赖的价值交付等。据此拟进行的任何具体活动 及项目须在严格遵循合规安全的前提下，随后由备忘录各方签署正式协议。 格隆汇11月3日丨招金矿业(01818.HK)宣布，于2025年11月3日，公司全资附属公司香港招金矿业有限公 司(「香港招金」)与SigmaLayer Company Limited(「SigmaLayer」，蚂蚁集团科技商业化板块(「蚂蚁数 科」)旗下成员公司)订立战略合作备忘录。 ...

Core Viewpoint - Yili Holdings (00076) announced a collaboration agreement with Goldpay Limited for a blockchain voucher project aimed at enhancing product sales, but Goldpay has requested to terminate the partnership due to a change in its registration strategy [1] Group 1: Collaboration Agreement - Yili Holdings' subsidiary, Yili Graphite Limited, signed a cooperation agreement with Goldpay on October 10, 2025, for the issuance of a practical blockchain voucher [1] - The blockchain voucher was intended to facilitate sales collaboration between the two companies [1] Group 2: Termination of Agreement - Goldpay recently requested to terminate the collaboration on the blockchain voucher project, citing a change in its strategy regarding the choice of registration location [1] - A termination agreement was signed on November 3, 2025, effectively ending all cooperation related to the blockchain voucher and associated projects [1] Group 3: Project Status - As reported by Goldpay, the blockchain voucher development project has not been completed, and no payments have been made by any individuals or companies for the voucher or related projects [1] - Both parties agreed to waive any claims against each other, including but not limited to expenses incurred [1]

Group 1 - Standard Chartered CEO Bill Winters predicts that nearly all global transactions will be completed through digital blockchain ledgers as mainstream banks and financial institutions increasingly adopt cryptocurrencies [1] - Winters emphasizes that the financial system will be fundamentally reshaped, necessitating practical exploration of this transformation [1] - Tokenized assets, which are digital versions of real assets like stocks, bonds, or commodities, can be recorded and traded on blockchains or distributed ledgers [1] Group 2 - Winters believes that Hong Kong dollar stablecoins could emerge as a new digital payment method in international trade [2] - In August, Standard Chartered (Hong Kong) announced a joint venture with Animoca Brands and HKT to focus on the issuance and promotion of regulated stablecoins [2] - The Hong Kong Monetary Authority and the Securities and Futures Commission issued a joint statement regarding recent market fluctuations related to stablecoins, which appear to stem from announcements and speculations about stablecoin issuance licenses [2]

Core Viewpoint - Yili Holdings (00076.HK) announced the termination of its collaboration with Goldpay regarding a blockchain voucher project, which was initially set to enhance product sales through a practical blockchain voucher issued by Goldpay [1] Group 1: Collaboration Agreement - Yili Holdings' subsidiary, Yili Graphite Co., signed a cooperation agreement with Goldpay on October 10, 2025, for the issuance of a blockchain voucher aimed at promoting product sales [1] - The collaboration was intended to leverage blockchain technology to facilitate transactions related to the company's products [1] Group 2: Termination of Agreement - Goldpay requested to terminate the collaboration due to a change in its strategy regarding the choice of the company's registered location [1] - On November 3, 2025, both parties signed a termination agreement, effectively ending all cooperation related to the blockchain voucher and associated projects [1] Group 3: Project Status - Goldpay reported that the blockchain voucher development project has not been completed, and no payments have been made by any individuals or companies for the voucher or related projects [1] - Both parties agreed to waive any claims against each other, including but not limited to expenses incurred [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佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 ELATE HOLDINGS LIMITED 誼礫控股有限公司 （ 於香港註冊成立之有限公司） （ 股份代號： 076） 自願公告 業務發展最新情況 誼礫控股有限公司董事會謹在此知會市場有關本集團之最新業務發展。 此乃由誼礫控股有限公司（「本公司」）作出之自願性公告，使其股東及潛在投 資者知悉本公司及其附屬公司（合稱「本集團」）之最新業務發展。 茲提述本公司於二零二五年十月十日刊發之公告，內容有關本公司之全資附屬公 司誼礫石墨有限公司（「子公司」）和 Goldpay Limited（「Goldpay」）於二零二五 年十月十日簽訂合作協議（「該協議」）。根據該協議，Goldpay 將發行一款主要應 用方為子公司的實用型區塊鏈代金券，以促進本公司產品銷售的合作計畫。 子公司與 Goldpay 雙方已於二零二五年十一月三日按上述內容簽署終止合作協 議，雙方同意終止 Goldpay 與子公司在區塊鏈代金券以及與 ...

Core Insights - The "Hong Kong FinTech Week x StartmeupHK Festival 2025" will take place from November 3 to 4, featuring key officials discussing the latest developments in Hong Kong's fintech sector [1] Group 1: Government Initiatives - Hong Kong's Chief Executive, John Lee, highlighted measures to strengthen Hong Kong's position as an international financial center, including support for mainland tech companies to raise funds and encouraging overseas companies to list in Hong Kong [2] - The Hong Kong Monetary Authority (HKMA) will leverage currency swap arrangements with the People's Bank of China to provide long-term RMB financing for enterprises [2] - A newly established "Mainland Enterprises Going Global Task Force" aims to assist mainland companies in expanding into overseas markets through Hong Kong [2] Group 2: FinTech Growth - There are currently over 1,200 fintech companies in Hong Kong, representing a 10% increase from the previous year, with projected total revenue for the fintech sector to exceed $600 billion by 2032, growing at an annual rate of over 28% [2] - The Hong Kong government plans to relax restrictions to attract more investors into the fintech sector and is exploring tokenization in traditional finance [2] Group 3: Key Technologies - The Secretary for Financial Services and the Treasury, Christopher Hui, emphasized that blockchain and AI are critical technologies for fintech, with around 75% of financial institutions currently adopting or trialing generative AI [3] - The HKMA is promoting seamless cross-border payments between Hong Kong and mainland China to enhance the credit system and payment convenience in the Greater Bay Area [3] Group 4: "FinTech 2030" Vision - The HKMA introduced the "FinTech 2030" vision, focusing on four key areas known as "DART," which includes over 40 specific projects aimed at establishing Hong Kong as a resilient international fintech hub [4] - The vision includes developing a new generation of data and payment infrastructure to support secure and efficient data sharing and cross-border payments [4] - The HKMA will launch a new AI strategy to promote responsible AI application in the financial sector, enhancing service accessibility and personalization while maintaining transparency [4] Group 5: Resilience and Tokenization - The HKMA is taking proactive measures to enhance business and technological resilience, including establishing a new certification framework for fintech cybersecurity [5] - The authority is also preparing for the future of quantum finance by promoting the development of post-quantum cryptography and building quantum-resistant infrastructure [6] - To foster a vibrant tokenization ecosystem, the HKMA will advance the tokenization of real-world assets and lead by example with the issuance of tokenized government bonds [6]

Group 1 - The 2025 Financial Street Forum Annual Conference will be held in Beijing from October 27 to 30, 2025, focusing on financial technology innovations [1] - The AI + Finance Forum will discuss the future of financial technology, emphasizing the integration of AI in various financial applications [1] - The Beijing municipal government aims to support the integration of AI and other advanced technologies into the financial sector, promoting digital finance in a secure and sustainable manner [1] Group 2 - The application of AI in the insurance sector is enhancing business efficiency and service quality, addressing issues in traditional insurance pricing and risk management [2] - Future improvements in digital insurance require better data governance, including data integration, standardization, and quality enhancement [2] - The financial technology sector is presented with significant opportunities during the 14th Five-Year Plan, necessitating a balance between development and security [2] Group 3 - A technology finance system that aligns with technological innovation is essential for optimizing economic structure and enhancing national competitiveness [3] - Current challenges in technology finance include a reliance on indirect financing and mismatches between bank risk control and the characteristics of tech enterprises [3] - Future strategies should focus on enhancing banks' capabilities to support technological innovation and improving direct financing channels for tech companies [3] Group 4 - The asset management industry is expected to align social capital allocation with technology-driven economic upgrades, focusing on new asset values [4] - Digitalization and intelligent methods will be employed to better understand investor needs and address funding homogeneity versus demand differentiation [4] - The forum featured over a hundred experts from government, financial institutions, enterprises, and academic organizations, highlighting the collaborative effort in advancing financial technology [4]

Core Viewpoint - The article discusses the developments and future plans for Hong Kong's fintech sector, highlighting the government's initiatives to strengthen its position as an international financial center and the expected growth in the fintech industry. Group 1: Government Initiatives - Hong Kong's Chief Executive, John Lee, announced measures to support fundraising for mainland tech companies and encourage overseas companies to list in Hong Kong, including welcoming the return of Chinese concept stocks [3] - The establishment of a "Mainland Enterprises Going Global Task Force" aims to assist mainland companies in expanding into overseas markets through Hong Kong [3] - The Hong Kong Monetary Authority (HKMA) is collaborating with the People's Bank of China to provide long-term RMB financing for enterprises [3] Group 2: Fintech Growth - There are currently over 1,200 fintech companies in Hong Kong, representing a 10% increase from the previous year [3] - The total revenue of Hong Kong's fintech industry is expected to exceed $600 billion by 2032, with an annual growth rate of over 28% [3] Group 3: Key Technologies - Blockchain and AI are identified as critical technologies for fintech, with 75% of financial institutions currently adopting or trialing generative AI, aiming to increase this to over 87% in the next 3 to 5 years [4][5] - The HKMA is promoting the tokenization of assets, including government bonds, to enhance market efficiency and attract investment [5][8] Group 4: Financial Technology Vision - The "Fintech 2030" vision aims to position Hong Kong as a robust and forward-looking international fintech hub, focusing on four key areas: Data and Payment Infrastructure, Artificial Intelligence, Resilience, and Tokenization [6][7] - The HKMA plans to develop a new AI strategy to enhance the responsible application of AI in the financial sector [7] - Initiatives will include creating a new certification framework for fintech cybersecurity and preparing for the quantum computing era [8]

Core Insights - Blockchain and AI are identified as key technologies in fintech, providing substantial benefits at market, enterprise, and individual levels [1] - The Hong Kong government has taken leading initiatives in blockchain, such as promoting the tokenization of bond issuance to enhance market efficiency [1] - Approximately 75% of financial institutions have adopted or are trialing generative AI, with a goal to increase this to over 87% in the next 3 to 5 years [1] - Efforts are underway to facilitate seamless cross-border payments between Hong Kong and mainland China, enhancing the credit system and payment convenience in the Greater Bay Area [1] - The tokenization of the money market is seen as an attractive opportunity that could draw significant capital [1] - Many enterprises have substantial idle funds available for investment, and blockchain technology can enable seamless investment of these funds, reducing the time lag between fund availability and returns [1] - Several asset management companies in Hong Kong are considering and adopting relevant technologies to maximize investment efficiency when market opportunities arise and regulatory requirements are met [1]