Core Viewpoint - Derin Holdings (01709) has signed formal agreements for the acquisition of BM mining machines, aiming to become the first listed "Bitcoin computing power stock" in Hong Kong, with a total hash power of approximately 2.1 million TH and an annual production target of around 350 Bitcoins [1][4]. Group 1: Acquisition Details - The company has entered into agreements for the acquisition of 1,900 units of BM mining machine 1 for a total cost of approximately $8.3491 million (equivalent to HKD 65.1228 million) and 1,095 units of BM mining machine 2 for approximately $10.8766 million (equivalent to HKD 84.8378 million) [1]. - The total expected annual output from the BM mining machines is approximately 175 Bitcoins, based on a total hash power of about 1.06 million TH/s [1]. Group 2: Operational Management - The digital asset department has dedicated operational personnel and utilizes a transparent third-party ASIC mining management platform to monitor hash power, temperature, and performance data in real-time [2]. - The company will sign a framework agreement with designated hosting service providers for the daily operation and maintenance of the BM mining machines, ensuring operational efficiency and uninterrupted mining activities [3]. Group 3: Strategic Partnerships - Bitmain, the parent company of BM1 and BM2, is recognized as the largest and most technologically advanced Bitcoin mining machine manufacturer, providing significant operational efficiency and competitive advantages through its advanced cooling technology [4]. - The board believes that signing the formal agreements will bring long-term financial returns and value to shareholders, reinforcing the company's leadership position in the Bitcoin mining business among Hong Kong listed companies [4].

Core Viewpoint - The company has signed formal agreements for the acquisition of BM mining machines, aiming to become the first listed "Bitcoin computing power stock" in Hong Kong, with a total hash power of approximately 2.1 million TH and an annual production target of around 350 bitcoins [1][4]. Group 1: Acquisition Details - The total cost for the acquisition of 1,900 BM mining machines 1 and 1,095 BM mining machines 2 is approximately $8.3491 million (equivalent to HKD 65.1228 million) and $10.8766 million (equivalent to HKD 84.8378 million) respectively [1]. - The expected annual output from the BM mining machines is approximately 175 bitcoins, contributing to a total planned reserve of over 1,000 bitcoins [1]. Group 2: Operational Management - The company's digital asset department employs dedicated operational personnel and utilizes a transparent third-party ASIC mining management platform for real-time monitoring of hash power, temperature, and performance data [2]. - The digital asset department is led by a professional with over 10 years of experience in the cryptocurrency and blockchain industry, ensuring effective management and compliance [2]. Group 3: Hosting and Maintenance - The company will sign a hosting service framework agreement with designated service providers for the daily operation and maintenance of the BM mining machines, ensuring a controlled environment and stable power supply [3]. - All mined bitcoins will be securely stored in a custodian wallet, adhering to institutional-grade custody standards for asset protection [3]. Group 4: Strategic Partnerships - Bitmain, the parent company of BM1 and BM2, is recognized as the largest and most technologically advanced bitcoin mining machine manufacturer, providing significant operational efficiency and competitive advantages [4]. - The partnership with Bitmain ensures continuous supply, technical support, and operational expertise, reinforcing the company's technological advantages and resilience in a competitive industry [4]. Group 5: Financial Outlook - The board believes that the signing of the formal agreements will bring long-term financial returns and value to shareholders, enhancing the company's leadership position in the bitcoin mining business among Hong Kong listed companies [4].

Core Insights - The company reported a customer retention rate of 99% for its supply chain financial technology solutions in the first nine months of 2025, an increase of 3 percentage points compared to the end of 2024 [1] - The total number of core enterprise partners reached 2,798, reflecting a growth of 29.8% from the end of 2024 [1] - The total transaction volume processed by the company's supply chain financial technology solutions was 329.37 billion yuan, a year-on-year increase of 29.2% [1] - The company is focusing on "AI + industrial finance" and digital assets, aiming for quality growth despite global economic uncertainties [2] - The company achieved significant breakthroughs in emerging technology applications, including winning a project for a Web3.0-based supply chain financial platform for a major state-owned enterprise [2] - The company is actively pursuing a share buyback plan, demonstrating management's confidence in future growth and commitment to long-term shareholder value [2] Financial Performance - The total transaction volume for emerging solutions was 6.8197 billion yuan, showing a year-on-year decrease of 5.1% [1] - The total transaction volume for technology solutions was 336.19 billion yuan, reflecting a year-on-year growth of 28.2% [1] Strategic Initiatives - The company continues to implement its core strategies, focusing on high-value-added businesses and optimizing product structure to maintain market leadership [2] - The collaboration with the state-owned enterprise will enable efficient, low-cost cross-border settlements and tokenized asset circulation, showcasing the company's innovative capabilities in trade finance based on Web3.0 [2] - The company plans to continue leveraging its core strategies of "AI + industrial finance," strategic acquisitions, and digital assets to drive sustainable business growth [2]

Group 1 - The core viewpoint of the articles highlights the strong performance and strategic initiatives of the company in the supply chain finance technology sector, showcasing significant growth in customer retention and transaction volumes [1][2] Group 2 - As of the first nine months of 2025, the customer retention rate for supply chain finance technology solutions reached 99%, an increase of 3 percentage points compared to the end of 2024 [1] - The total number of core enterprise partners increased to 2,798, reflecting a growth of 29.8% from the end of 2024, while the number of financial institution partners reached 405 [1] - The total transaction volume processed by the company's supply chain finance technology solutions amounted to 329.37 billion, representing a year-on-year growth of 29.2%, while emerging solutions saw a transaction volume of 6.8197 billion, a decrease of 5.1% [1] - The total transaction volume for technology solutions was 336.19 billion, showing a year-on-year increase of 28.2% [1] Group 3 - In Q3 2025, the company continued to execute its core strategy, focusing on "AI + industrial finance" and digital assets, leading to quality business growth despite global economic uncertainties [2] - The multi-level circulation cloud business maintained strong growth, driven by increased penetration among customer groups and a solid market foundation [2] - The company achieved a significant breakthrough in emerging technology applications by winning a project for a Web 3.0-based supply chain finance platform for a major state-owned enterprise, marking a milestone in its "stablecoin +" strategy [2] - The integration of the company's stablecoin application framework into the enterprise's ecosystem will enable efficient, low-cost cross-border settlements and tokenized asset circulation [2] - The company is steadily advancing its share repurchase plan, reflecting management's confidence in future growth and commitment to creating long-term value for shareholders [2] - The company will continue to focus on its three core strategies: "AI + industrial finance," strategic mergers and acquisitions, and digital assets, to seize market opportunities and drive sustainable growth [2]

Core Insights - The company continues to execute its core strategy in "AI + industrial finance" and digital assets, aiming for quality growth despite global economic uncertainties [1][2] - Strong growth momentum in multi-level circulation cloud business is attributed to increased penetration among customer groups and solid market foundation [1] - Significant breakthrough in emerging technology applications with a major contract win for a Web3.0-based supply chain finance platform project for a large state-owned enterprise [1] Business Developments - The project marks an important milestone under the company's "stablecoin+" strategy, showcasing the application of stablecoin and digital asset solutions in real supply chain scenarios [1] - Integration of the company's stablecoin application framework into the enterprise's ecosystem will enable efficient, low-cost cross-border settlements and tokenized asset circulation [1] - The company is steadily advancing its share buyback plan, reflecting management's confidence in future growth and commitment to long-term shareholder value [2] Strategic Focus - The company will continue to focus on three core strategies: "AI + industrial finance," strategic mergers and acquisitions, and digital assets to seize market opportunities and drive sustainable growth [2]

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 何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 Linklogis Inc. 聯易融科技集團 （於開曼群島註冊成立以不同投票權控制的有限公司） （股份代號：9959） 自願性公告 業務發展 本公告乃聯易融科技集團（「本公司」）自願刊發，以告知本公司股東及潛在投資者 有關本公司連同其附屬公司及關聯併表實體（「本集團」）的最新業務發展資料。 首席執行官寄語 在2025年第三季度，本集團繼續堅定執行核心戰略，在「AI+產業金融」和數字資 產領域深化佈局，推動業務實現有質量的增長。儘管全球宏觀經濟環境依然存在 不確定性，但我們通過持續聚焦高附加值業務、優化產品結構，鞏固了在市場中 的領先地位。第三季度，我們的多級流轉雲業務繼續保持強勁增長勢頭，這主要 得益於產品在客戶群體中的滲透率進一步提升以及市場基礎的持續鞏固。同時， 我們在新興技術應用領域取得重大突破，成功中標某特大型央企的基於Web 3.0的 供應鏈金融平臺項目。此項目是本集團「穩定幣+」戰略下的一個 ...

Market Overview - The Hang Seng Index fell by 1.61%, down 415 points, closing at 25,472 points, while the Hang Seng Tech Index dropped by 2.81%. The early trading volume in the Hong Kong market was HKD 153.2 billion [1] Energy Sector - Gas stocks rose, with Zhongyu Energy (03633) increasing by over 10%. This surge is attributed to the early initiation of winter heating in Gansu and other regions due to continuous temperature drops, leading to increased natural gas demand [1] Biotechnology Sector - Newly listed stock Xuan Zhu Bio-B (02575) surged over 13%, reaching a new high, and is up more than 190% from its IPO price. Yimai Sunshine (02522) rose over 4% following the global launch of its medical imaging model product AIR. The performance of medical stocks varied, with Yaojie Ankang-B (02617.HK) up over 21%, Baize Medical (02609) up over 5%, while Kangfang Biotech (09926) fell by 2%. Kangning Jereh Pharma-B (09966) increased by over 13% after announcing a share buyback plan, with market attention on significant data from the ESMO conference [2] Precious Metals Sector - Laopu Gold (06181) rose over 4%, benefiting from increased channel expansion and upgrades, with institutions indicating that rising gold prices favor its high-end brand positioning [3] Hospitality Sector - Wanda Hotel Development (00169) increased by over 10% after completing a sale and announcing a special dividend of HKD 0.462 per share to be paid next month [4] Digital Assets Sector - Delin Holdings (01709) rose over 3% after entering a strategic cooperation agreement with Antalpha to promote business in the digital asset sector [5] Telecommunications Sector - Changfei Optical Fiber and Cable (06869) fell over 6%, having dropped 40% from its September peak due to declining fiber optic prices and shareholder sell-offs. Cryptocurrency-related stocks collectively declined, with Bitcoin experiencing significant volatility and a recent incident in the US stablecoin market. Mi Strategy (02440) fell by 4.36%, and OSL Group (00863) dropped by 3.99% [6] Semiconductor Sector - Chip stocks continued to decline, with SMIC (00981) down over 5% and Huahong (01347) down over 3%, as US export controls accelerate domestic semiconductor replacements [6]

Group 1: Hong Kong Stock Market - Changfei Optical Fiber Cable (06869) fell over 4%, down more than 40% from its September peak due to declining fiber optic prices and shareholder sell-offs [1] - Solar stocks continued to decline, with Fuyao Glass (03606) down over 3%, New Special Energy (01799) down over 5%, Xinyi Solar (00968) down over 5%, and Folaite Glass (06865) down over 4%. Rumors about the establishment of a polysilicon storage platform were found to be untrue, and future installation demand remains to be observed [2] Group 2: US Stock Market - United Airlines (UAL.US) fell 5.63% after reporting third-quarter revenue slightly below market expectations [3] - TSMC (TSM.US) decreased by 1.60%, with Q3 net profit reaching a record high of 452.3 billion New Taiwan dollars [3] - Micron Technology (MU.US) rose 5.52% as Morgan Stanley upgraded its rating from "hold" to "buy" [4] Group 3: Technology and Innovation - Google (GOOGL.US) increased by 0.17% after launching a new video generation model, Veo 3.1, which improved audio output and editing control [4] - Thermo Fisher Scientific (TMO.US) rose 1.69% as it collaborates with OpenAI to enhance drug development speed and success rates [4] Group 4: Other Notable Movements - DoorDash (DASH.US) fell 2.18% after announcing a partnership with Waymo to launch autonomous delivery services [5] - Derin Holdings (01709) rose over 3% after signing a strategic cooperation agreement with Antalpha to promote digital asset business [5] - NIO-SW (09866) increased over 2% after responding to a lawsuit from a Singapore sovereign wealth fund, stating that the allegations have no factual basis [5]

Core Viewpoint - Derlin Holdings (01709) has entered into a non-binding strategic cooperation agreement with Antalpha Platform Holding Company, aiming to leverage both parties' strengths in traditional finance and digital assets to develop innovative financial solutions and explore market potential in the digital asset ecosystem [1][2] Group 1: Strategic Cooperation Framework - The strategic cooperation framework will focus on multiple core areas, including a Bitcoin mining strategic alliance to support Derlin's goal of becoming a leading publicly listed Bitcoin mining company in Asia [2] - The collaboration will also enhance and expand the Tether Gold (XAU) global ecosystem, aiming to create a comprehensive infrastructure that connects traditional precious metals markets with innovative digital asset solutions [2] Group 2: Financial Commitment - To support the strategic cooperation, Derlin Holdings will enter into a purchase agreement through its wholly-owned subsidiary DL HODL Limited to acquire approximately $5 million worth of XAU from a subsidiary of Antalpha [2]

智通财经APP获悉，德林控股(01709)盘中涨超6%，截至发稿，涨4.44%，报3.28港元，成交额1.03亿港 元。 为配合该集团与Antalpha的战略合作，于2025年10月16日透过其全资附属公司DL HODL Limited与 Antalpha的一间附属公司订立购买协议，购买价值约500万美元的XAU₮。 消息面上，德林控股发布公告，于2025年10月16日，公司与 Antalpha Platform Holding Company(Antalpha)订立不具约束力的战略合作协议。订约双方均认可结合Antalpha于数字资产领域的机 构级能力与集团于传统金融专业及监管基础方面的深厚经验，将可共同开发创新型金融解决方案，并于 数字资产生态体系中释放可观的市场潜力。因此，公司与Antalpha将建立一项全面的战略合作框架，借 以发挥各自竞争优势，携手推动数字资产领域的业务增长及市场拓展。 待公司与Antalpha进行进一步协商并达成协议，且符合所有适用法律及法规的前提下，公司与Antalpha 已同意建立以多个核心领域为重点的战略合作框架，以充分发挥双方在传统金融、区块链技术及数字资 产方面的优势。该 ...