PresentationDavid RobinsonFladgate LLP Good afternoon. Thanks, Mark. So good afternoon, everyone. Welcome to this virtual town hall meeting. I'll deal with some administrative matters first. The meeting is being recorded to ensure that a complete and accurate record is kept. As Mark mentioned, if you wish to ask questions, please use the chat function on the video conference platform. It will be helpful in your question if you could identify yourself either as a holder of shares, ADSs or notes in the compan ...

本次重组有助于加快建设一流投资银行，支持金融市场改革与证券行业高质量发展。通过重组各方能力 资源的有机结合、优势互补，力争在合并后实现规模经济和协同效应，提高公司服务国家战略和实体经 济的质效，并提升股东回报水平。 MACD金叉信号形成，这些股涨势不错！ 格隆汇11月19日丨中金公司(601995.SH)公布，公司与东兴证券股份有限公司（以下简称"东兴证 券"）、信达证券股份有限公司（以下简称"信达证券"）正在筹划由公司通过向东兴证券全体A股换股 股东发行A股股票、向信达证券全体A股换股股东发行A股股票的方式换股吸收合并东兴证券、信达证 券（以下简称"本次重组"）。鉴于上述事项存在重大不确定性，为保证公平信息披露，维护投资者利 益，避免造成公司股价异常波动，根据上海证券交易所的相关规定，经公司申请，公司A股股票（证券 简称：中金公司，证券代码：601995）将于2025年11月20日（星期四）开市时起开始停牌。本次重组涉 及到A+H股两地上市公司同时吸收合并两家A股上市公司，涉及事项较多、流程较为复杂，根据上海证 券交易所的相关规定，预计停牌时间不超过25个交易日。 登录新浪财经APP 搜索【信披】查看更多考 ...

| | | 编辑 ｜ 钉钉 11月19日晚间，中金公司公告，公司与东兴证券、信达证券正在筹划由中金公司通过换股方式吸收合并东兴证券、信达证券。为保证公平信息披露，维 护投资者利益，避免造成公司股价异常波动，公司A股股票将于2025年11月20日开市时起停牌，预计停牌时间不超过25个交易日。 公告称，本次重组有助于加快建设一流投资银行，支持金融市场改革与证券行业高质发展。 ...

Core Viewpoint - The proposed takeover of Comvita by rival Florenz has failed due to insufficient shareholder votes, leading both companies to mutually terminate the deal [1] Company Situation - Comvita's board is exploring alternative options, including a recapitalization process, following the failed takeover [2] - The company has faced significant challenges in recent years, including sector pressures, market conditions, and a complex turnaround [3] - Structural changes in the Manuka honey sector have resulted in oversupply, price volatility, and intense competition [3] Financial Performance - Comvita reported a net debt of NZ$67.4 million (approximately $38.2 million) and an EBIT profit of NZ$0.7 million for the first quarter of fiscal 2026, which was better than the anticipated NZ$1.7 million loss [3] - Revenue for the first quarter was NZ$45.6 million, exceeding both Comvita's estimate of NZ$43.8 million and the NZ$42.3 million from the previous year [4] - The forecast for full-year EBIT is NZ$13.5 million [4] Recapitalization Efforts - The board is actively working with advisers and banking partners to evaluate funding options as part of contingency planning [4] - The intention is to assess options for recapitalizing the company to stabilize the business and reduce risks to shareholders [5] - Comvita reported a full-year fiscal 2025 net profit loss of NZ$104.8 million, widening from a NZ$80.4 million loss the previous year, with revenue dropping 4% to NZ$192.5 million [6]

Core Viewpoint - Country Garden announced a series of proposed restructuring transactions aimed at improving its financial position and operational efficiency [1] Group 1: Proposed Transactions - The company plans to issue mandatory convertible bonds under special authorization [1] - It suggests issuing SCA warrants based on special authorization [1] - The company intends to issue new shares according to work fee arrangements and restructuring support agreements under special authorization [1] - A proposal to issue new shares as part of a bilateral loan solution with Dafeng Bank is also included [1] - There are related transactions involving the capitalization of shareholder loans, which includes issuing new shares to the controlling shareholder under special authorization [1] - The management incentive plan is proposed for adoption [1] - The company plans to sell stakes in several subsidiaries and offset shareholder loans through related transactions and ongoing related transactions [1]

11月12日，大智慧（601519.SH）股价大幅下挫，盘中一度跌停，报收12.60元/股，总市值为250.6亿 元。 直至此番重组，今年3月，两家公司同步公告筹划重组，湘财股份拟通过换股方式吸收合并大智慧，并 配套募资不超过80亿元。根据交易方案，湘财股份将向大智慧全体股东发行A股股票，换取其持有的大 智慧股份。交易完成后，大智慧将终止上市并注销法人资格，湘财股份作为存续主体，全面承接其所有 资产、负债、业务和人员。 中介机构：股东大会决议合法有效 面对指控，大智慧及其多家中介机构迅速作出回应。 11月11日晚，大智慧发布公告称，截至本公告日，公司已按照吸收合并的相关规则逐步完成各项工作， 履行了相关审议程序，股东大会决议合法有效，后续将按照相关规则积极处理本次诉讼。 消息面上，大智慧与湘财股份的合并之路再遇波澜，引发市场广泛关注。 诉讼突袭 据悉，大智慧正推进由湘财股份有限公司换股吸收合并自身的重组事项，公司于2025年10月13日召开的 第二次临时股东大会审议通过了本次重组相关议案。 然而，11月11日晚，大智慧公告称，公司收到上海市浦东新区人民法院的《应诉通知书》（【2025】沪 0115民初1388 ...

Core Viewpoint - The recent lawsuit involving Dazhihui (601519) regarding its restructuring has attracted market attention, with the company affirming the legality of its shareholder meeting resolutions and the ongoing merger process with Xiangcai Co., Ltd. [1][2] Group 1: Legal Proceedings - Dazhihui disclosed that multiple intermediary institutions confirmed the legality and validity of the resolutions from the second extraordinary general meeting held on October 13, 2025, despite a lawsuit filed by individual Wang Gongwei [1] - Wang Gongwei's lawsuit claims that the company failed to hire intermediaries for auditing or evaluating the transaction targets, which he argues violates relevant regulations [1] - Legal opinions from Beijing Guofeng Law Firm and Guohao Law Firm (Shanghai) support Dazhihui's position, stating that the merger does not require the auditing or evaluation of Xiangcai Co. and that the shareholder meeting procedures were compliant with laws and regulations [2] Group 2: Company Response - Dazhihui stated that it will actively respond to the lawsuit and protect the legal rights of the company and its shareholders, with updates on the restructuring process to be disclosed in a timely manner [3]

Group 1 - The change in control of BiaoBang Co., Ltd. was terminated after a week of suspension, leading to a significant drop in stock price, reflecting investors' disappointment in the failed restructuring expectations [2] - Prior to the suspension, BiaoBang's stock price had surged over 70% from September 16 to October 30, significantly outperforming the market's 4.05% increase during the same period, raising suspicions of insider trading or information leakage [2] - The company reported a revenue of 397 million yuan and a net profit of 90.45 million yuan for the first three quarters of the year, showing a year-on-year growth of 10.5% and 1.87% respectively, but overall performance growth is slow [3] Group 2 - The termination of the control change means that BiaoBang is unlikely to gain new growth momentum through restructuring in the short term, which raises concerns among investors [3] - The significant stock price fluctuations highlight the need for investors to remain rational when facing similar restructuring expectations, emphasizing the importance of focusing on the company's fundamental improvements and long-term potential [3] - The situation underscores the importance of information transparency and regulatory oversight in the capital market, ensuring a fair environment for investors to make informed decisions [3]

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 部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何法律 責 任。 IBO TECHNOLOGY COMPANY LIMITED (In Liquidation) 艾 伯 科 技 股 份 有 限 公 司 （清 盤 中） （於開曼群島註冊成立之有限公司） （股份代號：2708） 就復牌進展之季度更新 及 繼續暫停買賣 本 公 告 乃 艾 伯 科 技 股 份 有 限 公 司（清 盤 中）（「本公司」，連 同 其 附 屬 公 司，統 稱「本 集 團」）根 據 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）證 券 上 市 規 則（「上市規則」）第 13.09條及第13.24A條，以 及 香 港 法 例 第571章《證 券 及 期 貨 條 例》第XIVA部項下的 內 幕 消 息 條 文（定 義 見 上 市 規 則）作 出。 茲提述本公司日期為2024年3月18日、2024年4月24日、2024年4月25日、 ...

Core Insights - Porsche reported a significant loss of €966 million (approximately ¥8 billion) in Q3, leading to a 99% year-on-year decline in sales profit for the first three quarters of the year [1] Financial Performance - For the first nine months of the year, Porsche's revenue was approximately €26.86 billion, a decrease of 6% year-on-year [1] - The company's sales profit was only €40 million, down from €4.035 billion in the same period last year, marking a 99% decline [1] Strategic Adjustments - Porsche announced the postponement of several electric vehicle launches, extended the market lifecycle of various fuel and hybrid models, and terminated its battery production plan, resulting in an additional expenditure of approximately €2.7 billion (around ¥22.4 billion) [1] Impact of Tariffs - The U.S. tariff policy has added pressure on Porsche's performance, with an additional cost of €300 million incurred in the first nine months [1] - The company estimates that the U.S. tariffs will result in a loss of about €700 million for the entire year, prompting plans to increase prices in the U.S. market [1] Workforce Restructuring - In response to current operational pressures, Porsche has initiated an organizational restructuring, planning to lay off 1,900 employees over the next few years and cut 2,000 temporary positions within the year [1] - A second round of layoffs is expected to be announced by the end of this year [1]