AI 赋能成效显著，Chinagoods 平台"小商AI"系列应用累计访问量突破10 亿人次。公司与腾讯、百度共 建AI 导航导购系统；联合阿里云研发的"世界义乌"商贸大模型突破多语言翻译、智能对话等关键技 术。Chinagoods 平台"AI 翻译官"支持116 种语言互译同传，成为助力商户对接全球市场的工具。 Chinagoods 平台经营主体2025 上半年净利润达1.55 亿元，同比增长109.69%，凸显技术赋能实效。 跨境金融服务和香港金融牌照布局助力公司国际化进程提速。 2025 年上半年，公司义支付（YiwuPay）跨境收款金额突破25亿美元，同比增长47%，业务覆盖全球超 170 个国家和地区。通过加密传输、智能风控及"7×24 小时"专家应急响应的"三位一体"智能支付生态系 统，稳健支撑安全高效的跨境结算。公司同步加速推进香港金融牌照布局，公司以香港作为海外业务的 重要支撑地，前期已在香港设立相关公司并启动申请TCSP、MSO等牌照的工作，国际化进程全面提 速。 事件： 公司发布2025 年三季度报告。2025 年Q1-Q3，公司实现营收130.61 亿元，同比增长23.07%，归母净利 ...

Core Viewpoint - Hong Kong-based financial firms, particularly securities companies, are increasingly targeting the U.S. capital market for overseas listings, with a notable surge in IPO activities on NASDAQ in 2023 [1][5]. Group 1: Successful Listings - A total of 32 Hong Kong enterprises have successfully listed in the U.S. this year, including 4 securities firms that have gone public on NASDAQ, raising a total of $40.775 million [1][4]. - The four successful Hong Kong securities firms listed on NASDAQ are Bluemount Holdings Limited, Grande Group Limited, Waton Financial Limited, and Plutus Financial Group Limited, with listing dates ranging from February to July 2025 [2][3]. Group 2: Characteristics of Listed Firms - The listed securities firms exhibit two main characteristics: small to medium fundraising sizes, typically between $5 million and $10 million, and diversified business structures [4]. - Specific allocations of raised funds include 30% for AI systems by Waton Financial, 25% for enhancing IPO teams by Grande Group, and 20% for acquiring U.S. and Southeast Asian brokerage licenses by Plutus Financial [4]. Group 3: Upcoming Listings - At least 27 additional Hong Kong enterprises are preparing for U.S. listings, with six securities firms, including Beta Financial Technology and Hobo Capital, having disclosed their plans [5][6]. - The upcoming listings include various strategies, such as Beta Financial's plan to raise up to $10 million and Mango Financial's intention to merge with a SPAC for its listing [6][7]. Group 4: Motivations for U.S. Listings - Hong Kong financial institutions are attracted to the U.S. market for several reasons: diversified financing channels, enhanced global brand recognition, and the potential to replicate the success of peers like Futu Holdings [8]. - The current trend of Hong Kong securities firms listing in the U.S. is also influenced by the favorable market conditions in Hong Kong, allowing firms to capitalize on the bullish sentiment [8].