Core Viewpoint - Moody's has confirmed AAC Technologies Holdings Inc.'s "Baa3" issuer rating and senior unsecured debt rating, upgrading the outlook from stable to positive, reflecting the company's leading position in acoustic and haptic components, improving business diversification, and strong capital structure and liquidity [1] Group 1: Financial Performance and Projections - Moody's expects AAC Technologies' revenue to grow approximately 10% annually over the next 12-18 months, driven by a strong product portfolio and increasing customer penetration [1] - The EBITDA margin is projected to remain around 19% in 2024, with the adjusted debt-to-EBITDA ratio expected to decrease to about 2.0 times by the end of 2025 due to increasing EBITDA and stable debt levels [1] Group 2: Business Segments - In the optical business, AAC Technologies has established itself as a key supplier, with significant contributions expected from high-end products and improved operational efficiency over the next 12-18 months [2] - The automotive business is benefiting from synergies gained from the acquisition of Premium Sound Solutions (PSS), enhancing product diversification and market exposure [2] - The optical business has achieved a CAGR of 36% since 2019, with revenue expected to exceed 5 billion RMB in 2024, and the company ranks among the top three globally in optical lens shipments [2] - The automotive acoustic business is also experiencing rapid growth, with projected revenue of 3.52 billion RMB and a gross margin of 24.8% in 2024, with products widely used by both traditional and luxury car brands [3]

作者：董静，华尔街见闻 美国最大加密货币交易所Coinbase第二季度利润激增至14亿美元，主要得益于其对Circle Internet Group 投资获得的巨额收益，但收入未达华尔街预期，股价盘后下跌超8%。 7月31日，Coinbase Global发布的二季度财报显示，第二季度每股收益达5.14美元，远超去年同期的3600 万美元利润。利润暴增主要源于稳定币供应商Circle 6月IPO表现强劲，为Coinbase带来税前投资收益。 据此前报道，"稳定币第一股"Circle上市10天累计涨超675%， 不过，作为Coinbase主要收入驱动力的总交易量仍实现增长，从去年同期的2260亿美元上升至第二季度 的2370亿美元。这表明尽管交易活动有所增加，但公司从每笔交易中获得的收益率有所下降。 公司将收入环比下滑归因于市场波动性降低。加密货币市场波动通常会刺激更多交易活动，为交易所带 来更高收入。 业务多元化战略加速推进 为推动下一阶段增长，Coinbase表示将致力于成为"全能交易所"，重点关注代币化业务，即将传统金融 和现实世界资产转换为区块链上可交易代币的过程。 公司还在加速业务多元化，最近与摩根大 ...

财报显示，Coinbase的交易收入从去年同期的7.81亿美元下降至7.64亿美元，反映出截至6月30日三个月 期间现货加密货币交易活动的低迷。 不过，作为Coinbase主要收入驱动力的总交易量仍实现增长，从去年同期的2260亿美元上升至第二季度 的2370亿美元。这表明尽管交易活动有所增加，但公司从每笔交易中获得的收益率有所下降。 公司将收入环比下滑归因于市场波动性降低。加密货币市场波动通常会刺激更多交易活动，为交易所带 来更高收入。 业务多元化战略加速推进 美国最大加密货币交易所Coinbase第二季度利润激增至14亿美元，主要得益于其对Circle Internet Group 投资获得的巨额收益，但收入未达华尔街预期，股价盘后下跌超8%。 7月31日，Coinbase Global发布的二季度财报显示，第二季度每股收益达5.14美元，远超去年同期的3600 万美元利润。利润暴增主要源于稳定币供应商Circle 6月IPO表现强劲，为Coinbase带来税前投资收益。 据见闻此前文章，"稳定币第一股"Circle上市10天累计涨超675%， 尽管利润大幅增长，但Coinbase总收入仅从去年同期的14 ...

Core Viewpoint - Far East Holdings International (00036) announced a memorandum of understanding for a potential acquisition of a target group engaged in property-related services, which includes real estate securities, facility management, and safe deposit box services [1] Company Summary - The target group primarily provides services to various entities such as the Hong Kong Housing Authority, Hong Kong Housing Society, schools, hotels, commercial buildings, industrial buildings, and private residences, with approximately 200 ongoing projects as of the announcement date [1] - The board of directors believes that the target group's main business can provide auxiliary and supporting services to the property investment business, enhancing the company's operational capabilities [1] Industry Summary - The Hong Kong property market has faced challenges due to uncertain external economic prospects, geopolitical tensions, and tight financial liquidity, leading to cautious sentiment affecting asset prices [1] - The board regularly reviews its investment properties and tenant portfolio to ensure stable income and capital appreciation, indicating a proactive approach to market conditions [1] - The potential acquisition is seen as an opportunity to diversify income sources, enhance financial stability, and reduce risks, aligning with the overall interests of the company and its shareholders [1]

目标集团主要从事提供物业相关服务，包括房地产证券服务、设施管理服务及保险箱服务。其主要为中 国香港政府部门(如中国香港房屋委员会)、中国香港房屋协会、学校、酒店、商业大厦、工业大厦及私 人住宅提供服务。于本公布日期，约有200个进行中项目。 多年来，由于外围经济前景不明朗、地缘政治局势紧张及金融流动资金紧绌，中国香港物业市场一直面 临挑战，资产价格受制于审慎情绪。董事会不时检讨其投资物业及租户组合，旨在为集团带来稳定收入 及达至资本增值。董事会认为，目标集团的主要业务可为物业投资业务提供辅助及配套服务。潜在收购 事项为集团带来良机，将业务垂直展至物业相关服务。董事会相信，潜在收购事项倘若实现，可使收入 来源更多元化，从而提升财务稳定性及减低所承受风险，符合公司及其股东的整体利益。 智通财经APP讯，远东控股国际(00036)发布公告，于2025年7月31日，公司全资附属公司Gold Sky Finance Limited(买方)与卖方订立谅解备忘录，据此，卖方拟出售及促使出售，而买方拟购买目标集团 全部已发行股本(潜在收购事项)。 ...

Core Viewpoint - The strategic cooperation agreement between Zhong An Smart Life and Shenzhen Mai Guang Huo Supply Chain Co., Ltd. aims to enhance supply chain management, brand operation, and resource sharing, thereby improving competitiveness in the Chinese market and beyond [1][2]. Group 1: Strategic Cooperation Details - The agreement includes collaboration in optimizing and innovating various aspects of the supply chain, such as business models, team management, and product management [1]. - Both parties will explore market resources, including brand operation, channel expansion, and customer resource sharing [1]. - The cooperation will promote synergy between Mai Guang Huo's e-commerce platform and the group's lifestyle service platform, enhancing market influence [1]. Group 2: Company Background and Benefits - Mai Guang Huo, established in 2022, provides comprehensive product supply chain services and enterprise management consulting services [1]. - The e-commerce platform operated by Mai Guang Huo facilitates B2B and B2C transactions and has a network of enterprise clients and supply chain resources [1]. - The board believes that the strategic cooperation will create more business opportunities, enhance customer experience and quality in management consulting and supply chain services, and promote diversified business development [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之內容概不 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依賴該等內容而引致之任何損失承擔任何責 任。 众安智慧生活服务有限公司 Zhong An Intelligent Living Service Limited （於開曼群島註冊成立的有限公司） 本公告是由众安智慧生活服务有限公司（「本公司」，連同其附屬公司統稱「本 集團」）自願刊發，以讓本公司股東及潛在投資者知悉本集團的最新業務發展。 戰略合作協議 本公司董事會（「董事會」）欣然宣佈，本公司與深圳市賣光貨供應鏈有限公司 （「賣光貨」）於2025年7月28日（交易時段後）訂立戰略合作協議（「戰略合作協 議」），據此，本公司及賣光貨同意在供應鏈管理、供應鏈服務、品牌運營及供 應鏈資本規劃等領域建立戰略合作關係（「戰略合作」），發揮本公司及賣光貨 的互補業務優勢。 1 根據戰略合作協議，本公司及賣光貨同意在以下領域展開合作，包括： 通過戰略合作，雙方將整合資源，發揮協同發展的優勢，提升雙方在中國市場 及其他潛在市場的競爭力。 訂立戰略合作協議的理由及裨 ...

Group 1: Industry Overview - The Ministry of Industry and Information Technology announced a new round of stable growth work plans for ten key industries, including steel, non-ferrous metals, petrochemicals, and building materials, focusing on structural adjustments, supply optimization, and phasing out outdated production capacity [1] - The specific work plans for the petrochemical industry are expected to be released soon, which may lead to the elimination of outdated production capacity and further benefit company profitability [1] Group 2: Company Strategy and Performance - The company is positioned to benefit from the chemical industry's anti-involution by providing energy, basic chemicals, and logistics services to other chemical enterprises within the Jiaxing Chemical New Materials Park, ensuring a stable performance base [1] - The company has established an internal production cycle by recycling by-products across its business segments, which helps reduce overall production costs [1] - The company's diversification into areas such as fatty alcohols, chlor-alkali, sulfonated pharmaceuticals, hydrogen energy, and photovoltaic power plants ensures stable profitability and supports national carbon reduction goals [1] - The company has implemented a proactive and steady dividend policy and share repurchase plan, aiming to repurchase shares worth 400 to 600 million RMB within 12 months at a price not exceeding 11.82 RMB per share, reflecting confidence in long-term development [2] - As of July 7, 2025, the company has repurchased approximately 14.1 million shares, accounting for 1.04% of total share capital, with a total expenditure of 119 million RMB [2] - Future projects, such as the second phase of fatty alcohols and energy-saving upgrades for boilers, are expected to enhance long-term development prospects [2] Group 3: Financial Projections - The company is expected to achieve net profits attributable to shareholders of 1.26 billion, 1.44 billion, and 1.57 billion RMB for the years 2025 to 2027 [2]

电讯数码控股(06033)发布公告，于2025年7月29日(交易时段后)，买方Telecom Digital Investment Limited(公司的全资附属公司)与卖方TD King Finance Group Ltd订立买卖协议，据此，买方有条件同意 收购，而卖方有条件同意出售待售股份(相当于目标公司电讯数码证券有限公司的全部已发行股本)，代 价为4000万港元，并将以现金支付。 公告称，收购事项将通过探索相关行业的商机使集团业务及收入来源多元化。收购事项(如落实)代表集 团正式进军香港金融及证券市场。通过进军香港金融及证券市场，集团旨在把握资本市场强劲复苏的机 遇。自2025年初以来，香港股市日均成交额已突破2000 亿港元，这主要受惠于本地及国际投资者的参 与。基于市场流动性及情绪改善以及估值回升，公司对市场前景持审慎乐观态度。凭借目标公司的专业 知识及成熟的基础实施，收购事项将使集团能够利用该等有利条件产生稳定的收入，并通过金融服务与 集团的服务及产品组合形成互补。 目标公司为获证监会发牌可从事证券及期货条例项下第1类(证券交易)及第2类(期货合约交易)受规管活 动的法团，主要于香港从事提供证券 ...

格隆汇7月29日丨电讯数码控股(06033.HK)公告，于2025年7月29日，买方（公司的全资附属公司）与卖 方订立买卖协议，据此，买方有条件同意收购，而卖方有条件同意出售待售股份（相当于目标公司电讯 数码证券有限公司的全部已发行股本），代价为4000万港元，并将以现金支付。 收购事项将通过探索相关行业的商机使集团业务及收入来源多元化。收购事项（如落实）代表集团正式 进军香港金融及证券市场。通过进军香港金融及证券市场，集团旨在把握资本市场强劲复苏的机遇。自 2025年初以来，香港股市日均成交额已突破2,000亿港元，这主要受惠于本地及国际投资者的参与。基 于市场流动性及情绪改善以及估值回升，公司对市场前景持审慎乐观态度。凭藉目标公司的专业知识及 成熟的基础实施，收购事项将使集团能够利用该等有利条件产生稳定的收入，并通过金融服务与集团的 服务及产品组合形成互补。 预期收购事项将通过不同方式与集团的现有业务产生协同效应。首先，集团的财务实力及於香港的长期 声誉将会促进目标公司的业务及扩张，并在需要时使其能够扩大证券经纪服务的规模，从而提升其对集 团的收益贡献。第二，收购事项将会提供独特的推广机会，提高目标公司在 ...