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佈全部或任何部分內 容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 HAO BAI INTERNATIONAL (CAYMAN) LIMITED 浩柏國際(開曼)有限公司 （ 於開曼群島註冊成立的有限公司） （ 股份代號：8431） 自願公告建議成立合營企業的諒解備忘錄 本公告乃由浩柏國際(開曼)有限公司(「本公司」，連同其附屬公司統稱「本集 團 」）自願作出，以向本公司股東及潛在投資者提供有關本集團最新業務發展 的消息。 合營企業協議諒解備忘錄 本公司董事（「董事 」）會（「董事會 」）欣然宣佈，本公司全資子公司中國 賓利投資有限公司近期與胡建勇先生（「胡先生 」，連同本公司統稱「訂約 方 」）訂立不具法律約束力的諒解備忘錄（「諒解備忘錄 」），內容涉及專注 於在中國建設開發中心、資訊技術服務及人工智慧領域，同時涵蓋雲端運算、 數位貨幣及數位產品開發等尖端技術。雙方擬共同設胡眾智算集團有限公司 （「合營公 司」）。 有關 胡建勇先 生的資料 胡建勇先生現任胡眾集團董事長 ...

IVD Medical Holding Limited 華檢醫療控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1931） 補充公告 (1)穩 定 幣 牌 照 申 請 進 度 更 新； (2)有 關 潛 在 加 密 貨 幣 購 買 的 重 大 收 購 事 項； (3)有 關 收 購 國 富 量 子 創 新 有 限 公 司 的 須 予 披 露 交 易 失 效；及 (4)進一步闡述本集團戰略發展方向 茲提述(i)華 檢 醫 療 控 股 有 限 公 司（「本公司」）於 二 零 二 五 年 七 月 十 七 日 刊 發 之 公 告、二 零 二 五 年 七 月 二 十 日 刊 發 之 有 關 戰 略 進 展 之 自 願 性 公 告；(ii)二 零 二 五 年 八 月 八 日 刊 發 之 自 願 性 公 告（「該公告」），內 容 有 關（其 中 包 括）本 集 團 推 出「ivd.xyz Exchange」－全 球 首 個 聚 焦 醫 療 創 新 藥NewCo高科技資產的真實世 界資產（「RWA」）交易所生態，以及「IVDD」穩定幣計劃。該計劃致力於通過「NewCo + RWA」Web3交 易 所 生 態 營 ...

Core Viewpoint - The collaboration between Four Seasons Pharmaceutical and Abalone Bio aims to develop innovative obesity treatment drugs by targeting metabolic GPCRs, addressing current limitations in weight loss therapies and meeting unmet clinical needs globally [1][2] Group 1: Collaboration Details - Four Seasons Pharmaceutical has signed a formal cooperation agreement with Abalone Bio to jointly advance the research and development of next-generation obesity treatment drugs [1] - The project focuses on enhancing energy expenditure safely and effectively while maintaining or increasing muscle mass, which is a significant challenge in current weight loss therapies [1] Group 2: Technical and Strategic Aspects - Abalone Bio will provide its core technology and platform support in GPCR antibody discovery, while Four Seasons will contribute its research and development resources in metabolic diseases and its established business framework in Greater China [2] - The collaboration is built on a prior strategic investment made by Four Seasons in Abalone earlier this year, marking a transition from capital investment to business execution [2] Group 3: Market Positioning and Future Prospects - This partnership strengthens Four Seasons' innovative positioning in the weight loss sector and accelerates the development of new weight loss and muscle gain therapies [2] - The collaboration is also a strategic move to deepen Four Seasons' involvement in the GPCR target area, following its investment in DJS Antibodies, which focuses on GPCR-targeted antibodies [2]

Industry Trend - The World Economic Forum officially announced that we are entering the Fifth Industrial Revolution in early 2025 [1] - Artificial intelligence, robotics, platformization, and biotechnology are rewriting the rules of the economy and wealth distribution [1] Investment Platform - IB盈透证券 is a leading and trusted global investment platform covering 150 markets [1] - IB盈透证券 offers low costs and flexible funds, making it an ideal choice for diversified investment [1] Disclaimer - The channel is not a financial advisor and all videos are for educational purposes only [1] - All investments have risks, and investment is the individual's responsibility [1] - The channel is sharing personal views and does not constitute investment advice, nor does it guarantee investment returns or losses [1]

Market Overview - The Hang Seng Index is expected to hold around 25,000 points, reflecting a forecasted P/E ratio of 12 times over the next 12 months, amid uncertainties in U.S. monetary policy and ongoing U.S.-China trade tensions [2] - The U.S. Federal Reserve's recent hawkish stance on interest rate cuts has led to reduced expectations for future rate reductions, with only one cut anticipated in 2026, which is lower than market expectations [5][10] Corporate News - Anta (2020) reported low single-digit growth in retail sales for its brand products in Q3 [12] - Cansino (6185) benefited from sales of its meningitis vaccine, with net profit increasing 842% year-on-year in Q3 [5] - China Aluminum (2600) achieved a net profit of 3.8 billion RMB in Q3, marking a 90.3% increase [5] - Meituan (3690) announced that its rider social security subsidies will now cover the entire country, becoming the first to establish a comprehensive protection system for all riders [12] - Pony.ai plans to raise over 7.56 billion HKD through its IPO, with a focus on expanding its autonomous driving services [12] - WeRide (0800) aims to raise over 3.09 billion HKD in its IPO, positioning itself as a leader in L4 autonomous driving solutions [12] Macro Focus - In September, profits of large-scale industrial enterprises in China increased by 21.6% year-on-year, with a cumulative growth of 3.2% for the first three quarters [10] - The Chinese government is set to deepen reforms in the ChiNext board to optimize financing and regulatory systems [10][11] - The Hong Kong government reported a 16.1% increase in exports and a 13.6% increase in imports in September, both exceeding market expectations [11] Sector Insights - The insurance sector is expected to benefit from strong A-share performance, leading to improved investment returns in Q3 [8] - AI concept stocks are gaining traction as mainland China accelerates the application of "Artificial Intelligence+" [8] - The report indicates that Alibaba and Baidu hold the top two positions in China's AI cloud market, with market shares of 30.2% and 22.5% respectively [11]

Market Overview - The Hang Seng Index is expected to hold at 25,000 points, reflecting a forecasted P/E ratio of 12 times over the next 12 months, amid concerns over U.S.-China relations and domestic economic performance [2] - The U.S. Federal Reserve's recent hawkish stance on interest rate cuts has led to reduced expectations for future rate reductions, impacting market sentiment [2][4] Company News - Seres is reportedly planning an IPO in Hong Kong, aiming to raise between $1.5 billion and $2 billion, with a focus on expanding marketing channels and enhancing global brand recognition [9] - JD.com has seen a nearly 48% year-on-year increase in active users since the start of its "Double 11" shopping festival, indicating strong consumer engagement [9] - ZTE has successfully shipped its automotive-grade chip, the Han域 M1, which is designed for next-generation automotive electronic architectures [9] - BYD is considering establishing a manufacturing facility in Spain due to lower production costs and a clean energy network [9] Industry Insights - The Chinese automotive market reported a 14.9% year-on-year increase in sales for September, with new energy vehicle sales rising by 24.6% [8] - The International Monetary Fund (IMF) has expressed concerns over China's economic outlook, emphasizing the need for a shift towards domestic demand due to weak export growth [8] - The oil market is facing a more severe oversupply situation than previously anticipated, with global oil supply expected to increase significantly while demand growth remains sluggish [8]

Core Viewpoint - The company, Jin Yi Group Holdings, is in discussions to potentially acquire a stake in Nexovia Terra Limited, which operates in the artificial intelligence sector, indicating a strategic move towards diversification of its business operations [1] Group 1: Acquisition Details - Jin Yi Group Holdings announced a memorandum of understanding regarding the potential acquisition of shares in Nexovia Terra Limited, with the possibility of acquiring up to 100% of the company [1] - The sellers include related parties to the company, which may influence the transaction dynamics [1] Group 2: Target Company Profile - Nexovia Terra Limited was established in July 2025 in the British Virgin Islands and is involved in the application and development of artificial intelligence platforms and software [1] - The company is a subsidiary of Jin Yi Group Holdings, which is registered in the Cayman Islands and listed on the Hong Kong Stock Exchange, primarily focusing on property operations [1] Group 3: Strategic Implications - The board believes that the potential acquisition will provide a good opportunity for the company to diversify and enhance its existing business operations [1] - Golden Might Limited, a wholly-owned subsidiary of Jin Yi Group, was established in May 2025 in the British Virgin Islands and primarily focuses on investment holding [1]

Market Overview - The US stock market reached new highs, with the three major indices hitting record levels on the "quadruple witching day" [9] - Global equity funds attracted $68.4 billion, the highest since December of the previous year, with $57.7 billion flowing into US equity funds [11] - Emerging market funds saw inflows of $7.6 billion, marking the highest since May [11] - The 10-year US Treasury yield rose to 4.147%, reflecting market concerns about inflation [9] - Gold prices strengthened, closing up 1.12% near the day's high [9] Investment Strategies - The report recommends prioritizing investments in leading companies within the "artificial intelligence and semiconductor" sectors due to the growing demand for AI [9] - For fixed income, it is suggested to reduce holdings in US Treasuries and shift towards investment-grade corporate bonds (IG) and floating-rate notes (FRN) [9] - A recommendation for structured products includes "dual-leverage linked notes" tied to major commodities (such as oil and copper) to capture price fluctuations [9] Company Highlights - Sanofi reported Q2 net sales of €9.994 billion, a year-on-year increase of 10.1%, with earnings per share rising by 8.3% to €1.59 [24] - FedEx Corporation announced an increase in revenue and profit guidance for FY2026, driven by higher volume in its priority delivery service and cost-saving measures [25] - The report highlights the strong performance of the company 创科实业 (Techtronic Industries), which achieved a record revenue of $7.833 billion in H1 2025, with net profit growing to $628 million and a gross margin improvement to 40.3% [21] - 京东 (JD.com) has formed a strategic partnership with China Resources to open its first physical store in Hong Kong by 2026, focusing on international and mainland tech brands [13] Economic Data Releases - Key economic data releases include the M3 money supply in Switzerland, unemployment rate in Taiwan, and consumer price index in Hong Kong, all scheduled for September 22, 2025 [19]

Market Overview - The Nasdaq index rose by 1%, with Google shares increasing over 9%, reaching a historical high [8] - Spot gold surpassed $3,550, indicating a continued rise in safe-haven demand [8] - The 30-year U.S. Treasury yield approached 5% before retreating, while the 10-year yield was at 4.199% [8] - Southbound capital net purchased Hong Kong stocks worth $5.5 billion, with Alibaba seeing three consecutive days of increased holdings [8] - The Hong Kong PMI rose to 50.7 in August, indicating a significant improvement in the business environment [12] Company Focus - **Siengene (2096)**: Reported total revenue of RMB 3.585 billion for the first half of 2025, a year-on-year increase of 15.1%. Innovative drug revenue accounted for over 75%, growing by 26% [20] - **China Petroleum Engineering (2386)**: Achieved revenue of RMB 31.559 billion in the first half of 2025, a 10.1% year-on-year increase, with net profit reaching RMB 1.388 billion, up 4.8% [20] - **Longi Green Energy (6869)**: Revenue increased by 19.4% year-on-year, driven by strong overseas market demand, with overseas revenue growing by 52.8% [20] Economic Data - U.S. factory orders decreased by 1.3% month-on-month in July, with durable goods orders revised down by 2.8%, aligning with expectations [10] - The U.S. JOLTS job openings for July were reported at 7.181 million, lower than expected [10] - The U.S. trade balance for July showed a deficit of $77.9 billion [18] ETF and Stock Recommendations - **Gold ETFs**: Recommended for allocation due to strong safe-haven demand, with options like GLD or IAU [8] - **Alphabet Inc. (GOOG)**: The U.S. court ruling allowed Google to retain its Chrome browser, providing a short-term price increase opportunity [22][23] - **Adobe Inc. (ADBE)**: Actively integrating AI into core products, with over 35% of Photoshop subscribers using generative AI features, indicating a positive impact on user engagement [24][25]

Core Viewpoint - Delin Holdings (01709) has entered into a subscription agreement with Carmel Reserve LLC to acquire approximately 15.10% of the existing B-class member interests, with a total investment of approximately $10.32 million (around HKD 80.52 million), which will increase the company's stake to about 32.97% post-transaction [1][2][4] Group 1: Investment Details - The subscription agreement involves acquiring B-class member interests in Carmel Reserve LLC, which is developing the "ONE Carmel" luxury residential project in California [1][2] - The project spans 891 acres (approximately 3.6 square kilometers) and is planned to consist of 73 lots, with an average lot size of 4.38 acres (approximately 17,725 square meters) [2] - The first phase of the "ONE Carmel" project is expected to be completed by 2026 [2] Group 2: Strategic Importance - The board views this subscription as a significant strategic opportunity to deepen investment in the luxury residential development in Carmel Valley, California [2][3] - The investment will convert previous debt investments into equity and inject an additional $8 million in new funds to support ongoing development [2][3] Group 3: Project Potential - "ONE Carmel" is considered a high-quality real estate asset with significant future tokenization potential, aligning with the company's goals in digital finance and blockchain [3] - The project aims to meet the growing demand for ultra-luxury, sustainable living spaces, particularly appealing to high-net-worth individuals [3] - The development will feature modern designs, top-tier amenities, and advanced technology, enhancing operational efficiency and asset value [3] Group 4: Financial Outlook - The board believes that the subscription will generate sustainable value for shareholders through financial returns from the project [4] - The terms of the subscription agreement are deemed fair and reasonable, aligning with the overall interests of the company and its shareholders [4]