Group 1 - Company GCL-Poly Energy (03800) experienced a stock price increase of over 5%, currently trading at HKD 1.31 with a transaction volume of HKD 235 million [1] - The company announced a subscription agreement to issue a total of 4.736 billion shares at a subscription price of HKD 1.15 per share, which represents an approximate discount of 8.73% compared to the last closing price of HKD 1.26 [1] - The total proceeds from the subscription are expected to be around HKD 5.446 billion, with a net amount of approximately HKD 5.392 billion after deducting related fees and expenses [1] Group 2 - The company plans to allocate 65% of the net proceeds from the subscription for three main purposes: firstly, to support supply-side reforms and structural adjustments in polysilicon production capacity; secondly, to enhance its second growth curve by leveraging its leading capacity and output of silane gas to meet the increasing demand in semiconductor integrated circuits and the transition of TOPCon batteries to solar BC batteries; thirdly, to optimize the company's capital structure [2] - The remaining 35% of the net proceeds will be used for general working capital and to repay existing loans [2]

Core Viewpoint - GCL-Poly Energy Holdings Limited (协鑫科技) has announced a subscription agreement to issue a total of 4.736 billion shares at a subscription price of HKD 1.15 per share, representing an approximate discount of 8.73% compared to the last closing price of HKD 1.26 [1][2] Group 1: Subscription Details - The total proceeds from the subscription are expected to be approximately HKD 5.446 billion, with a net amount of about HKD 5.392 billion after deducting related fees and expenses [2] - The subscription shares represent approximately 16.63% of the existing issued share capital as of the announcement date and about 14.26% of the enlarged issued share capital post-issuance [2] Group 2: Use of Proceeds - 65% of the net proceeds will be allocated for supply-side reform, specifically for structural adjustments in polysilicon capacity, enhancing the company's second growth curve, and optimizing capital structure [2] - The remaining 35% will be used for general working capital and repayment of existing loans [2]

认购股份相当于(i)公司于本公告日期现有已发行股本约16.63%;及(ii)经配发及发行认购股份扩大后的公 司已发行股本约14.26%(假设除配发及发行认购股份外，公司已发行股本自本公告日期起至完成日期止 概无变动)。 认购事项的所得款项总额将为约54.46亿港元。经扣除相关配售代理费、成本及认购事项开支后，认购 事项的所得款项净额合共将约为53.92亿港元。公司拟按以下方式应用认购事项所得款项净额：(i)65% 主要用于三个方面：首先，用于供给侧改革的资金储备，推进多晶硅产能结构性调整;其次，强化第二 曲线，以全球第一的硅烷气产能和产量，完成海外替代，在半导体集成电路对电子特气需求的提升、 TOPCon电池向太阳能BC电池转型对硅烷需求的放量，锂电行业固态、半固态电池对硅烷的应用需求以 及显示面板对硅烷气品质的高要求的多重背景下，以硅烷气打造协鑫新增长极;第三，优化公司资本结 构;及(ii)35%用于一般营运资金用途及偿还现有贷款。 智通财经APP讯，协鑫科技(03800)发布公告，公司于2025年9月16日(交易时段前)与认购方(i)订立认购 协议，据此，认购方已有条件同意认购，而公司已有条件同意发行及配 ...

Core Viewpoint - The company plans to issue preferred shares to raise up to 8.2 billion yuan, aiming to enhance its capital structure and support the real estate market recovery while providing value returns to investors [1][2]. Group 1: Financing Details - The preferred shares will be issued to no more than 200 market investors, with a total fundraising target of up to 8.2 billion yuan [1]. - The issuance of preferred shares is a novel financing tool for the real estate sector, reflecting the company's strategic decision-making and experience in capital operations [1][2]. - Preferred shareholders will receive fixed dividends and will not participate in the distribution of residual profits, ensuring that ordinary shareholders can benefit from the company's performance recovery during the industry's stabilization [2]. Group 2: Financial Impact - The issuance is expected to increase the company's net assets by 2.94% and reduce the debt-to-asset ratio by 0.64 percentage points, significantly optimizing the capital structure [3]. - The raised funds will be allocated to 11 real estate development projects in core first- and second-tier cities, including Beijing, Shanghai, Guangzhou, and Shenzhen, enhancing the company's market share and profitability in these regions [3]. Group 3: Performance Overview - The company reported a revenue of 51.485 billion yuan in the first half of the year, a year-on-year increase of 0.41%, and a net profit of 1.448 billion yuan, up 2.18% [4]. - In the first eight months of the year, the company achieved a cumulative contracted sales amount of 124 billion yuan [4].

票据发行是阿里巴巴集团战略的一部分，旨在利用有利的市场条件及融资成本，以优化本公司的资本结 构。由于票据的总成本较低且无息，票据发行预期将降低本公司整体资本成本。一般而言，限价看涨交 易预期能减少对本公司股东的潜在摊薄。通过将票据转换价格有效提高至235.46美元，本公司对业务策 略及股份长期价值保持坚定信心。票据发行不会影响本公司强劲的信用状况，确保在为其股东创造长期 价值方面继续保持灵活性。 阿里巴巴-W(09988)发布公告，董事会欣然宣布其本金总额约为32亿美元于2032年到期零息可转换优先 票据的定价，票据将依据美国证券法下的S条例向某些非美国人士发行进行离岸交易。作为票据发售的 一部分，本公司订立了限价看涨交易，以减少票据的潜在摊薄影响及/或本公司为结算已转换票据而需 要支付的任何现金。 阿里巴巴集团计划将票据发行的募集资金净额用于一般公司用途，战略重点是增强其云基础设施能力及 拓展国际商业业务营运。具体而言，约80%将被分配用于增强云基础设施，包括扩大数据中心、升级技 术及优化服务以满足增长需求。其余20%将用于拓展国际商业营运，重点进行营运投资以使本公司得以 提升市场地位与效率。阿里巴巴集团预 ...

阿里巴巴集团计划将票据发行的募集资金净额用于一般公司用途，战略重点是增强其云基础设施能力及 拓展国际商业业务营运。具体而言，约80%将被分配用于增强云基础设施，包括扩大数据中心、升级技 术及优化服务以满足增长需求。其余20%将用于拓展国际商业营运，重点进行营运投资以使公司得以提 升市场地位与效率。阿里巴巴集团预估，扣除初始买方的折扣及公司应支付的预估发行费用后，票据发 行所得募集资金净额将约为31.3亿美元。 票据发行是阿里巴巴集团战略的一部分，旨在利用有利的市场条件及融资成本，以优化公司的资本结 构。由于票据的总成本较低且无息，票据发行预期将降低公司整体资本成本。一般而言，限价看涨交易 预期能减少对公司股东的潜在摊薄。通过将票据转换价格有效提高至235.46美元，公司对业务策略及股 份长期价值保持坚定信心。票据发行不会影响公司强劲的信用状况，确保在为其股东创造长期价值方面 继续保持灵活性。 格隆汇9月11日丨阿里巴巴-W(09988.HK)公告，董事会欣然宣布其本金总额约为32亿美元于2032年到期 零息可转换优先票据定价，票据将依据美国证券法下的S条例向某些非美国人士发行进行离岸交易。作 为票据发售的一部 ...

公告表示，出售事项基于三项关键裨益：(i)优化卖方的资本结构及提升其流动性状况；(ii)藉与经验丰 富的战略伙伴携手契机，共同推动目标公司业务发展及价值创造，同时保持卖方于医疗健康行业关键战 略资产的控制权；及(iii)强化股权结构，为目标公司的中期增长提供更强的支持与动力。 目标公司(即Luz Saúde, S.A.)为一间根据葡萄牙法律成立的有限责任公司，其为葡萄牙医疗市场上最大 的私人医疗集团之一，在葡萄牙提供广泛的综合医院及临床服务。截至本公告日期，其为Fidelidade的 附属公司。Fidelidade拟将出售事项的所得款项用于优化其资本结构及偿付能力状况。 格隆汇9月5日丨复星国际(00656.HK)发布公告，2025年9月4日(里斯本时间)，Fidelidade(公司的间接附 属公司，作为卖方)与MEIF 7(作为买方)签订协议，据此，卖方同意出售目标公司40%的股份及表决权， 基础代价为欧元3.10亿元。交割后，卖方将持有目标公司59.86%的股份及表决权，而目标公司将仍为公 司的附属公司。 ...

据悉，目标公司为葡萄牙医疗市场上最大的私人医疗集团之一，在葡萄牙提供广泛的综合医院及临床服 务。截至本公告日期，其为Fidelidade的附属公司。 公告称，出售事项基于叁项关键裨益：(i)优化卖方之资本结构及提升其流动性状况;(ii)借与经验丰富的 战略伙伴携手契机，共同推动目标公司业务发展及价值创造，同时保持卖方于医疗健康行业关键战略资 产的控制权;及(iii)强化股权结构，为目标公司的中期增长提供更强的支持与动力。 复星国际(00656)公布，于2025年9月4日(里斯本时间)，Fidelidade(该公司的间接附属公司，作为卖方)与 MEIF7(作为买方)签订协议，据此，卖方拟向买方出售Luz Saúde,S.A.40%的股份及表决权，基础代价为 欧元3.1亿元。交割后，卖方将持有目标公司59.86%的股份及表决权，而目标公司将仍为公司的附属公 司。 ...

Group 1 - Shandong Gold (600547)(01787) experienced a nearly 5% drop in early trading but later rose by 2.29% to HKD 30.68, with a trading volume of HKD 4.52 billion [1] - The company plans to issue up to 136.5 million shares at a price of HKD 28.58 per share, representing an approximately 8.98% discount to the previous closing price of HKD 31.40, aiming to raise about HKD 38.924 billion for debt repayment [1] - Huatai Securities reported that Shandong Gold achieved revenue of CNY 56.766 billion in the first half of the year, a year-on-year increase of 24.01%, and a net profit attributable to shareholders of CNY 2.808 billion, up 102.98% year-on-year [1] Group 2 - The company is recognized as a leader in the gold industry, and Huatai Securities believes that gold prices have long-term upward potential, indicating that gold stocks may still hold investment value [1] - The brokerage has raised its profit forecast for Shandong Gold for the years 2025 to 2027, primarily due to actual gold price increases exceeding their expectations [1]

Core Viewpoint - Shandong Gold (600547)(01787) aims to enhance its international capital market presence and optimize its capital structure through a share placement, targeting a total of 136.5 million shares at a price of HKD 28.58 per share, representing an approximate discount of 8.98% from the closing price on September 1, 2025 [1] Group 1 - The company has entered into a placement agreement with placement agents to issue up to 136.5 million shares [1] - The expected net proceeds from the placement are approximately HKD 3.8924 billion, which will be used to repay company debts [1] - The placement is part of the company's strategy to promote healthier, sustainable, and high-quality development, aiming to build a globally competitive world-class gold mining enterprise [1]