Group 1 - The core point of the news is that Fosun Pharma plans to spin off its subsidiary, Fosun Antigen (Chengdu) Biopharmaceutical Co., Ltd., for a separate listing on the Hong Kong Stock Exchange [1] - The board of directors approved the proposal for the spin-off and listing on January 22, 2026 [1] - Fosun Antigen serves as the vaccine business platform for the group, focusing on research, production, and sales of vaccines using various technological platforms [1] Group 2 - After the proposed spin-off, Fosun Antigen will remain a subsidiary of the company, and its financial status and profitability will still be reflected in the consolidated financial statements of the group [2] - In the short term, the net profit (or loss) attributable to Fosun Antigen may decrease, but in the long term, its financing capabilities are expected to strengthen, enhancing operational scale, production, and R&D capabilities [2] - The spin-off is anticipated to improve the overall profitability and long-term value of the group by increasing the comprehensive competitiveness, brand recognition, and market influence of Fosun Antigen [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，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購任何證券的邀請或要約，亦非旨在邀請任何該等要約或邀請。 具體而言，本公告並不構成亦並非在香港、美國或其他地方要約出售任何證券或邀請或招攬購買或認購任何 證券的要約。於未根據1933年美國證券法（ 經修訂（）「美國證券法」）辦理登記手續或未獲豁免相關登記規定之 情况下，不得在美國提呈或出售任何證券。本公告所述的證券沒有亦將不會根據美國證券法進行登記。概不 會在美國、或香港以外的其他司法權區公開發售證券。 本公告所載全部或任何部分資料不得直接或間接於、向或從美國或任何根據有關法例或規例不得將其發佈、 刊發或分發之司法權區發佈、刊發或分發。 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 Shanghai Fosun Pharmaceutical (Group) Co., Ltd. * （ 於中華人民共和國註冊成立的股份有限公司） （股份代號：02196） ...

北京商报讯（记者 王寅浩 宋雨盈）1月22日，复星医药发公告称，公司拟分拆其所属子公司复星安特金 至香港联交所主板上市。本次分拆完成后，复星医药的股权结构不会因此发生重大变化，且预计仍将维 持对复星安特金的控制权。 根据公告，通过本次分拆，复星安特金将作为复星医药下属疫苗业务平台实现独立上市，借助香港资本 市场拓宽融资渠道、增强资金实力，并完善激励机制，有利于其持续强化在疫苗领域的综合竞争力、品 牌知名度和市场影响力。 ...

中金发表报告指，创维集团发布公告，拟将其持有的所有创维光伏股份分派给全体股东，创维光伏将以 介绍方式在联交所主板上市，此过程不涉及公开发售新股，同时进行股份回购实现私有化。该行认为分 拆上市有望充分反映创维光伏新能源业务资产价值，同时为其建立独立融资平台，支持光储业务扩张。 考虑到公司拟分拆上市，新能源业务内在价值有望充分体现，该行上调创维集团目标价100%至8港元， 评级"跑赢行业"。 ...

创维集团(00751)昨日暴涨37%，今日早盘再涨超5%。截至发稿，涨4.92%，报7.47港元，成交额5162.88 万港元。 消息面上，1月20日，创维集团公告，董事会已决议推进公司私有化退市，并同步分拆旗下光伏业务板 块创维光伏独立上市。中金发布研报称，创维光伏作为分布式光伏开发龙头企业，有望转型为全球化能 源服务商。 该行指出，根据公司公告，若选择现金代价，结合分派的创维光伏股份，每股计划股份的理论总价值约 为4.03+0.37*16.57=10.16港元。该行认为分拆上市有望充分反映创维光伏新能源业务资产价值，同时为 其建立独立融资平台，支持光储业务扩张。 ...

该行指出，根据公司公告，若选择现金代价，结合分派的创维光伏股份，每股计划股份的理论总价值约 为4.03+0.37*16.57=10.16港元。该行认为分拆上市有望充分反映创维光伏新能源业务资产价值，同时为 其建立独立融资平台，支持光储业务扩张。 创维集团(00751)昨日暴涨37%，今日早盘再涨超5%。截至发稿，涨4.92%，报7.47港元，成交额5162.88 万港元。 消息面上，1月20日，创维集团公告，董事会已决议推进公司私有化退市，并同步分拆旗下光伏业务板 块创维光伏独立上市。中金发布研报称，创维光伏作为分布式光伏开发龙头企业，有望转型为全球化能 源服务商。 ...

停牌12个交易日后，港股上市公司创维集团于1月21日复牌，早盘一度涨超46%。前日晚间，公司发布了有关"分派创维光伏股份、介绍创维光伏上市、撤 销创维集团上市地位"等事宜的公告。 图片来源：创维集团公告 根据公告，创维集团将向全体股东分派所持创维光伏股份，后者将申请以介绍方式在港交所主板上市。同时，创维集团将通过计划安排进行股份回购，注 销计划股份，计划股东可选择每股计划股份获4.03港元现金或1股新股份。分派、创维光伏上市及股份回购的完成互为条件，将同日或大致同日发生。 截至1月21日收盘，创维集团报7.12港元/股，涨37.45%。 | < V | | 创维集团 00751 港股通 ▼ | | CG Q | | --- | --- | --- | --- | --- | | 7.120 | 今开 | 7.390 最高 | 7.590 最低 | 6.600 | | 5.37% 总手 | 37.45% 1.940 块子 | | 1.02亿 金额 | 7.19亿 | | 总值 134.7亿 市盈T™ 40.86 市净 | | | 0.71 | 車ミ | | 收市竞价参考价: 7.160 | | | | | | ...

Core Viewpoint - The company, CK Hutchison Holdings (00001), is reportedly considering a spin-off of its global telecommunications business, which includes operations in Europe, Hong Kong, and Southeast Asia, with potential listings in Hong Kong and London. However, the company has stated that no decisions have been made regarding this or any related transactions [1][2]. Group 1: Spin-off Plans - Recent media reports suggest that CK Hutchison is contemplating a spin-off of its global telecommunications business, potentially valuing the business at around $20 billion [1]. - The company has engaged with investment banks such as Goldman Sachs, Citigroup, and Deutsche Bank to explore the spin-off listing [1]. - CK Hutchison has clarified that it has not made any decisions regarding the independent listing of its telecommunications or retail assets [1]. Group 2: Internal Evaluations - There are indications that CK Hutchison is also evaluating a merger between its Italian telecommunications unit Wind Tre and Iliad's operations in Italy, which may lead to a pause in the spin-off plans [2]. - Internal discussions within CK Hutchison regarding the future direction of its global telecommunications business are reportedly divided, with a decision expected in the coming weeks [2].

Core Viewpoint - The company is considering a potential spin-off of its global telecommunications business, which includes operations in Europe, Hong Kong, and Southeast Asia, with plans for listings in Hong Kong and London [1] Group 1: Spin-off Considerations - The company has engaged Goldman Sachs, Citigroup, and Deutsche Bank to assist with the potential spin-off [1] - The company has stated that no decisions have been made regarding the independent listing of its telecommunications or retail assets [1] - Recent media reports suggest that the company is exploring opportunities to enhance long-term shareholder value, including the possibility of independent listings for certain assets [1] Group 2: Valuation and Market Impact - The global telecommunications business is estimated to be valued at approximately $20 billion, with London being considered as the primary listing location and Hong Kong as a secondary option [1] - Following the spin-off, the global telecommunications business could be quickly included in the FTSE 100 index [1] Group 3: Internal Evaluations and Future Directions - There are differing opinions within the company regarding the future direction of the global telecommunications business [1] - The company is also evaluating a potential merger between its Italian telecommunications unit Wind Tre and Iliad's operations in Italy, which may delay the spin-off plans [1] - A decision regarding the future of the global telecommunications business is expected within the coming weeks [1]

传统家电业务增长放缓之际，创维集团做了一个"聪明的选择"。 1月21日，创维集团（00751.HK）正式复牌，当日高开超42%。这是市场资金给予创维集团的明确信号。 根据创维集团公告，公司于1月4日董事会议决分派创维光伏上市及股份回购计划。股份回购计划生效后，公司将向联交所申请撤销上市地位，公司将向全体 股东（包括控股股东）分派所持有的创维光伏股份。 图片来源：图虫创意 而创维光伏将以介绍方式申请在香港联交所主板上市。公司将通过股份回购计划撤销上市地位，当中涉及注销计划股份，以换取现金选择，即每股计划股份 兑换4.03港元的现金，或股份选择，即每股计划股份兑换一股新股份。 这意味着，如股东选择现金方案，每股既能拿到4.03港元的现金，同时又能获得约6.13港元的创维光伏股份，理论每股总对价约为10.16港元。这套组合拳为 股东提供了理论价值约10.16港元/股的对价方案，较停牌前收盘价5.18港元/股溢价高达96.14%。 此外，公告明确指出，根据2025年11月30日估算的估值，每股创维光伏股份价值约为12.90元至17.26元，按估值参考汇率换算，约为14.18港元至18.96港元。 就私有化及分拆上市相 ...