Core Viewpoint - Delin Holdings (01709) has seen a significant increase of over 10% in its stock price, attributed to the conditional approval of its subsidiary, Delin Securities, to provide virtual asset trading services under a comprehensive account arrangement [1] Group 1: Stock Performance - Delin Holdings' stock price rose by 10.78%, reaching HKD 2.26, with a trading volume of HKD 15.5059 million [1] Group 2: Regulatory Approval - Delin Securities, in which Delin Holdings holds a 70% stake, has received conditional approval from the Hong Kong Securities and Futures Commission to offer virtual asset trading services [1] - The approval is contingent upon Delin Securities meeting certain conditions related to its existing Type 1 (Securities Trading) regulated activity license [1] Group 3: Bitcoin Production and Mining Equipment - The company announced that the total Bitcoin production from December 1 to December 30, 2025, is projected to be 25.2107 Bitcoins, averaging approximately 0.8404 Bitcoins per day [1] - Delin Holdings has completed the acquisition of 9,148 Bitcoin mining machines [1]

Core Viewpoint - Delin Holdings (01709) has seen a significant increase of over 10% in its stock price, currently trading at HKD 2.26 with a transaction volume of HKD 15.5059 million [1] Group 1: Company Developments - Delin Holdings announced that its subsidiary, Delin Securities, has received conditional approval from the Hong Kong Securities and Futures Commission to provide virtual asset trading services under a comprehensive account arrangement, pending acceptance of certain conditions related to its existing Type 1 (Securities Trading) regulated activity license [1] - The company reported that the total Bitcoin production from December 1 to December 30, 2025, is projected to be 25.2107 Bitcoins, averaging approximately 0.8404 Bitcoins per day [1] - Delin Holdings has completed the acquisition of 9,148 Bitcoin mining machines [1]

Market Overview - The Hong Kong stock market closed with a slight decline, with the Hang Seng Index down 0.87% to 25,630.54 points, and a total trading volume of HKD 118.97 billion. The Hang Seng China Enterprises Index fell 0.86%, while the Hang Seng Tech Index dropped 1.12% [1] - For the year 2025, the Hang Seng Index recorded a cumulative increase of 27.77%, marking its best performance since 2017, while the China Enterprises Index and Tech Index rose by 22.27% and 23.45%, respectively [1] - Looking ahead to 2026, it is expected that under a backdrop of loose monetary policy, foreign and southbound capital will continue to flow into the market, potentially leading to a substantial increase in the profitability of Hong Kong-listed companies [1] Blue-Chip Stocks Performance - Baidu Group-SW (09888) rose 1.39% to HKD 131.5, contributing 3.55 points to the Hang Seng Index, driven by growth in its AI business [2] - Other blue-chip stocks included Sunny Optical Technology (02382) up 1.16%, Zijin Mining (02899) up 0.85%, while Innovent Biologics (01801) fell 3.66% and New Oriental-S (09901) dropped 2.49% [2] Sector Highlights - Major technology stocks mostly declined, with Alibaba down over 1% and Tencent down 0.17%, while Baidu saw an increase [3] - The airline sector saw a collective rise, with China Eastern Airlines (00670) up 4.92%, China Southern Airlines (01055) up 4.3%, and Air China (00753) up 3.36%, attributed to increased travel demand during the New Year holiday [4] - The film industry remained active, with the total box office for the New Year season surpassing HKD 5 billion, marking a new high for the past eight years [3] Mining Sector - Zijin Mining Group reported a projected net profit of USD 1.5-1.6 billion for 2025, a year-on-year increase of approximately 212%-233%, while Zijin Mining expects a net profit of CNY 51-52 billion, up 59%-62% year-on-year [5] - Zijin Mining's production targets for 2026 include 105 tons of gold and 120,000 tons of copper, indicating a strong growth trajectory [5] Automotive Sector - The automotive sector showed mixed results, with Great Wall Motors (02333) up 3.24% and GAC Group (02238) up 0.74%, while Li Auto-W (02015) fell 1.44% [6] - New policies for 2026 regarding vehicle subsidies have been announced, which may stabilize consumer expectations for car purchases [6] Notable Stock Movements - In the AI-driven pharmaceutical sector, Insilico Medicine (03696) surged 23.88% to HKD 37.14, reflecting its advancements in drug discovery [7] - Delin Holdings (01709) rose 9.68% to HKD 2.04 after announcing conditional approval for virtual asset trading services [8] - Jiangxi Copper (00358) reached a new high, up 5.36% to HKD 42.88, supported by rising copper prices [9] - KANAT Optical (02276) increased by 4.25% to HKD 54, benefiting from new policies supporting digital and smart products [10]

Core Viewpoint - Derlin Holdings (01709.HK) announced that its subsidiary, Derlin Securities, has received conditional approval from the Hong Kong Securities and Futures Commission (SFC) to provide virtual asset trading services under a comprehensive account arrangement, pending acceptance of certain conditions related to its existing Type 1 (securities trading) regulated activity license [1] Group 1 - Derlin Securities must establish and maintain a comprehensive account to provide virtual asset trading services through a licensed platform operated by the SFC [1] - The services will only be offered to professional investors, who must always be clients of Derlin Securities' Type 1 regulated activities [1] - As of December 29, 2025, Derlin Securities has accepted the aforementioned conditions and will commence virtual asset trading services upon receiving formal approval from the SFC [1] Group 2 - The company is also working on upgrading Derlin Securities' Type 4 (advising on securities) regulated activity license, which is currently under final approval by the SFC [1]

Core Viewpoint - The A-share market experienced a relatively flat performance, but new stocks became a highlight, with 蘅东光 achieving a maximum intraday increase of 1128%, marking it as the second stock this year to rise over 10 times on its first trading day [1][2][3]. Summary by Sections New Stock Performance - 蘅东光 opened with a surge exceeding 1000%, reaching a maximum intraday increase of 1128%, making it the second stock in 2025 to achieve such a rise on its debut, following 大鹏工业, which had a maximum increase of 1666.67% [3]. - 新广益 also listed today, experiencing a maximum increase of 337.21% before triggering a trading halt [6]. Company Profiles - 蘅东光 focuses on the research, development, manufacturing, and sales of passive optical devices in the optical communication field, with major products including optical fiber connectors and passive optical components. The company has established long-term stable partnerships with notable clients such as AT&T, Verizon, Google, and Amazon, among others [5]. - 新广益 specializes in the research, production, and sales of high-performance specialty functional materials, including anti-overflow adhesive films and high-resistance specialty films. Since its establishment in 2004, the company has aimed for technological innovation and has become a leading player in its market segment [8].

Group 1 - The core point of the article is that Derlin Holdings (1709.HK) experienced a significant stock price increase after its subsidiary, Derlin Securities, received conditional approval from the Securities and Futures Commission to provide virtual asset trading services [1] - Derlin Holdings' stock surged by 44.62% to HKD 2.69 at the beginning of trading, before settling at a 15% increase, with trading volume reaching nearly HKD 500 million [1] - The approval allows Derlin Securities to operate under a comprehensive account arrangement and to accept certain conditions related to its existing Type 1 (securities trading) regulated activity license [1]

Core Viewpoint - Delin Holdings (01709) experienced a significant increase in stock price, rising over 14% following the announcement of conditional approval for its subsidiary, Delin Securities (Hong Kong) Limited, to provide virtual asset trading services under a comprehensive account arrangement [1] Group 1: Company Developments - Delin Holdings announced that as of December 29, 2025, Delin Securities has received conditional approval from the Hong Kong Securities and Futures Commission (SFC) to offer virtual asset trading services [1] - The approval is contingent upon Delin Securities meeting certain conditions related to its existing Type 1 (securities trading) regulated activity license [1] - Delin Securities is required to operate a comprehensive account on a platform licensed by the SFC and can only provide services to professional investors as defined by the Securities and Futures Ordinance [1] Group 2: Future Plans - Delin Holdings is committed to upgrading Delin Securities' Type 4 (advising on securities) regulated activity license, with the SFC currently conducting final approvals [1] - The company will make appropriate announcements upon receiving the relevant approvals from the SFC [1]

消息面上，德林控股发布公告，于2025年12月29日，公司持有70%权益的附属公司德林证券(香港)有限 公司已获香港证券及期货事务监察委员会有条件批准在综合账户安排下提供虚拟资产交易服务，惟须待 德林证券接纳其现有第1类(证券交易)受规管活动牌照的若干条件方可作实。 该等条件包括：德林证券须透过经营在证监会持牌平台(定义见证券及期货条例及其附属法例)设立及维 持的综合账户提供虚拟资产交易服务；德林证券须遵守《在综合帐户安排下提供虚拟资产交易服务的持 牌法团或註册机构的条款及条件》(经不时修订)；及德林证券仅向专业投资者(定义见证券及期货条例及 其附属法例)提供虚拟资产交易服务，而该等专业投资者在任何时间均为其第1类受规管活动(证券交易) 业务的客户。 智通财经APP获悉，德林控股(01709)高开逾14%，截至发稿，涨14.42%，报2.13港元，成交额597.68万 港元。 于2025年12月29日，德林证券已接纳上述条件，并将于接获证监会的正式批准后开展虚拟资产交易服 务。公司致力于推进德林证券第4类(就证券提供意见)受规管活动牌照的升级，目前证监会正进行最后 审批，公司将于接获证监会的相关批准后作出适当 ...

Core Viewpoint - Derlin Holdings (01709) announced that its subsidiary, Derlin Securities (Hong Kong) Limited, has received conditional approval from the Hong Kong Securities and Futures Commission to provide virtual asset trading services under a comprehensive account arrangement, pending acceptance of certain conditions related to its existing Type 1 (securities trading) regulated activity license [1] Group 1 - Derlin Securities must establish and maintain a comprehensive account to provide virtual asset trading services through a licensed platform regulated by the SFC [1] - The company is required to comply with the terms and conditions for licensed corporations or registered institutions providing virtual asset trading services under the comprehensive account arrangement [1] - Virtual asset trading services will only be offered to professional investors, who are clients of Derlin Securities' Type 1 regulated activity (securities trading) business [1] Group 2 - As of December 29, 2025, Derlin Securities has accepted the aforementioned conditions and will commence virtual asset trading services upon receiving formal approval from the SFC [1] - The company is also working on upgrading Derlin Securities' Type 4 (advising on securities) regulated activity license, which is currently under final approval by the SFC [1] - An appropriate announcement will be made once the company receives the relevant approvals from the SFC [1]

智通财经APP讯，德林控股(01709)发布公告，于2025年12月29日，公司持有70%权益的附属公司德林证 券(香港)有限公司已获香港证券及期货事务监察委员会有条件批准在综合账户安排下提供虚拟资产交易 服务，惟须待德林证券接纳其现有第1类(证券交易)受规管活动牌照的若干条件方可作实。 该等条件包括(i)德林证券须透过经营在证监会持牌平台(定义见证券及期货条例及其附属法例)设立及维 持的综合账户提供虚拟资产交易服务，(ii)德林证券须遵守《在综合帐户安排下提供虚拟资产交易服务 的持牌法团或註册机构的条款及条件》(经不时修订)，及(iii)德林证券仅向专业投资者(定义见证券及期 货条例及其附属法例)提供虚拟资产交易服务，而该等专业投资者在任何时间均为其第1类受规管活动 (证券交易)业务的客户。 于2025年12月29日，德林证券已接纳上述条件，并将于接获证监会的正式批准后开展虚拟资产交易服 务。公司致力于推进德林证券第4类(就证券提供意见)受规管活动牌照的升级，目前证监会正进行最后 审批，公司将于接获证监会的相关批准后作出适当的公告。 ...