公告还指出，公司股份收市价从2025年10月15日的0.425港元显著上升，至2026年1月12日为5.87港元， 董事局澄清，上述资料(除股价信息外)摘录自香港证监会公告，公司未独立核实。公司基于可得资料确 认，截至2026年1月16日及公告日期，不少于25%的已发行股份由公众持有，符合联交所上市规则的公 众持股量规定。 俊裕地基公告，公司注意到香港证券及期货事务监察委员会刊发了一份关于公司股权分布的公告。查讯 结果显示，截至2026年1月12日，25名股东和中国创投控股有限公司合计持有公司已发行股份的 90.63%，仅9.37%由其他股东持有。 ...

该公司股份之收市价从2025年10月15日的0.425港元上升1281.2% 至2026年1月12日的 5.87港元。 于2026年1月21日，该公司股价收报 5.99 港元，较2025年10月15日的收市价0.425港元高出1309.4% 。 智通财经APP讯，俊裕地基(01757)发布公告，证监会最近曾就该公司的股权分布进行查讯。查讯结果显 示该公司于2026年1月12日，有25名股东合共持有1.83亿股该公司股份，相当于该公司已发行股本的 15.26%。有关股权连同由一个该公司的主要股东持有的9.04亿股该公司股份(占已发行股本的 75.37%)， 相当于该公司已发行股本之 90.63%。因此，该公司只有1.12亿 股该公司股份(占已发行股本的9.37%)由 其他股东持有。 ...

该公司股份之收市价从2025年10月15日的0.425港元上升1281.2%至2026年1月12日的5.87港元。 于2026年1月21日，该公司股价收报5.99港元，较2025年10月15日的收市价0.425港元高出1309.4%。 俊裕地基(01757)发布公告，证监会最近曾就该公司的股权分布进行查讯。查讯结果显示该公司于2026 年1月12日，有25名股东合共持有1.83亿股该公司股份，相当于该公司已发行股本的15.26%。有关股权 连同由一个该公司的主要股东持有的9.04亿股该公司股份(占已发行股本的75.37%)，相当于该公司已发 行股本之90.63%。因此，该公司只有1.12亿股该公司股份(占已发行股本的9.37%)由其他股东持有。 ...

Core Viewpoint - The Hong Kong Securities and Futures Commission conducted an inquiry into the shareholding distribution of Ximing Life Science Technology Group Limited, revealing a highly concentrated ownership structure with significant implications for stock price volatility [1][4]. Shareholding Distribution - As of December 31, 2025, 20 shareholders and their associates collectively held 1,387,094,033 shares, representing 18.79% of the company's issued share capital [1][3]. - Three major shareholders owned 5,310,485,115 shares, accounting for 71.94% of the issued share capital [1][3]. - Consequently, only 684,197,657 shares, or 9.27% of the issued share capital, were held by other shareholders [1][3]. Stock Price Performance - The closing price of Ximing Life Science shares increased from HKD 0.019 on September 10, 2025, to HKD 0.112 on December 31, 2025, marking a 489% rise [4]. - As of January 12, 2026, the stock price further rose to HKD 0.118, reflecting a 521% increase compared to the closing price on September 10, 2025 [4].

Core Viewpoint - The company, Guorui Life (00108), has acknowledged the announcement from the Securities and Futures Commission (SFC) regarding its shareholding distribution, revealing significant ownership concentration among a few shareholders [1][2] Group 1: Shareholding Structure - As of December 9, 2025, ten shareholders and their related parties collectively held 548 million shares, representing 17.02% of the total issued shares [1] - An additional 430 million shares, accounting for 13.36% of the total issued shares, were held by shareholders who acquired them directly or indirectly from Hongrui International Investment (Hong Kong) Limited [1] - The combined holdings of these shareholders and the two major shareholders amount to 1.953 billion shares, which is 60.66% of the total issued shares, leading to a total of 91.04% of shares held by these parties [1] Group 2: Compliance and Independent Shareholders - The company confirmed that the ten shareholders holding 548 million shares are independent third parties and not related to the company or its connected persons [2] - Hongrui International Investment (Hong Kong) Limited entered into a placement agreement on October 27, 2025, for the placement of 430 million shares, which was completed on November 14, 2025, with 21 independent third-party subscribers [2] - The company verified that at least 25% of its issued shares are held by the public, ensuring compliance with the public float requirements set by the Stock Exchange [2]

Core Viewpoint - Deutsche Bank's stock has experienced a significant decline, dropping over 8% and currently trading at 8.51 HKD, with a trading volume of 8.65 million HKD [1] Group 1: Stock Performance - As of the latest update, Deutsche Bank's stock price fell by 7.9% [1] - The stock has seen a total decline of over 8% recently [1] Group 2: Shareholder Distribution - The Hong Kong Securities and Futures Commission revealed that on November 18, ten shareholders collectively held 546 million shares, representing 98.9% of the company's issued H-shares [1] - Only 6.05 million shares, or 1.1% of the issued H-shares, are held by other investors [1]

Core Viewpoint - The Chinese noodle brand "Yujian Xiaomian" (02408.HK) debuted on the Hong Kong Stock Exchange on December 5, but faced a significant drop in share price, falling by 28.69% on its first day, resulting in a market capitalization of less than 4 billion HKD [2]. Group 1: Company Structure and Shareholding - The significant drop in share price may be attributed to the company's highly concentrated shareholding structure, with the controlling shareholders holding 45.7% of the shares [3]. - The top ten and top twenty-five shareholders collectively hold 88.3% and 95.3% of the shares, indicating a notable concentration of ownership [3]. Group 2: IPO Details and Market Reception - Yujian Xiaomian issued 97.3645 million H-shares at an IPO price of 7.04 HKD per share, raising approximately 617 million HKD, with plans to allocate about 60% of the funds for restaurant network expansion and market penetration [5]. - The public offering received high interest, with a subscription rate of 425.97 times for the Hong Kong portion and 4.99 times for the international portion [5]. Group 3: Business Performance and Strategy - Yujian Xiaomian operates 451 restaurants in mainland China and 14 in Hong Kong, with an additional 115 new stores in preparation [7]. - The company has experienced rapid growth in total merchandise transaction volume and order quantity since 2022, primarily due to rapid store expansion and price reductions to attract consumers [7]. - However, the average order value at direct-operated restaurants has decreased from 36.2 RMB in 2022 to 31.8 RMB in the first half of 2025, indicating that price cuts have not effectively improved single-store profitability [7]. - The average daily sales per direct-operated restaurant fell from 12,700 RMB in the first half of 2024 to 11,800 RMB in the first half of 2025, and the overall turnover rate of direct-operated stores decreased from 3.8 times per day to 3.4 times per day [7].

Core Viewpoint - The stock price of Dejin Tianxia, a leading commercial vehicle service provider, experienced significant volatility due to the Hong Kong Securities and Futures Commission's disclosure of highly concentrated shareholding, leading to a drop of 27.99% on December 3, 2023, and raising concerns about its business fundamentals and industry position [1][2]. Shareholding Concentration - As of November 18, 2023, 98.90% of Dejin Tianxia's 546 million H shares were held by 10 shareholders, leaving only 1.10% for public investors, indicating an extremely high level of share concentration [1][2]. - The Hong Kong Securities and Futures Commission warned that such concentration could lead to significant price volatility, prompting market panic and a rapid decline in stock price [1][2]. Regulatory Context - The Hong Kong Stock Exchange requires a minimum public shareholding of 25%, but emphasizes actual liquidity; a concentration of over 90% among the top ten shareholders may be deemed insufficient in terms of liquidity [2]. Market Performance - Dejin Tianxia's stock surged by 184.58% and 37.22% in September and October 2023, respectively, before the recent downturn, with the rise attributed to a logistics cooperation agreement with Yongqing Group [2]. - The company has faced long-term trading inactivity, with an average daily trading volume of only 2.8 million HKD in 2023, and its stock price had previously been below 1 HKD for an extended period [2]. Financial Performance - For 2024, Dejin Tianxia reported revenues of 2.628 billion HKD and a net profit of 153 million HKD, reflecting a year-on-year growth of 2.7%, although revenue has shown a declining trend from 3.127 billion HKD in 2021 to 3.119 billion HKD in 2023, and a further projected decline of 15.7% in 2024 [3]. - The company's gross margin improved from 12.3% to 14.5%, primarily due to an increase in high-margin supply chain financial services and a reduction in high-cost long-distance orders [3]. Business Dependency - Dejin Tianxia's revenue is heavily reliant on its parent company, Shaanxi Automobile Group, with 62.2% of its income in 2024 coming from Shaanxi and its affiliates, up from 58% at the time of its IPO [3][4]. - The logistics and supply chain services segment is the core pillar of the business, generating 74.0% of total revenue in 2024, with over 60% of the 131,200 commercial vehicles serviced being related to Shaanxi [3].

Core Viewpoint - Deutsche Bank Tianxia (02418.HK) experienced a significant drop in stock price, closing at HKD 7.05, with a decline of 27.988% due to concerns over its highly concentrated shareholding structure [1] Shareholding Concentration - As of November 18, 98.90% of Deutsche Bank Tianxia's shares are held by ten shareholders, totaling 546 million H-shares, leaving only 6.0545 million H-shares (1.10%) available to other investors [1] - The Hong Kong Securities and Futures Commission highlighted that the concentrated shareholding could lead to substantial price volatility, even with minimal trading activity [1]

Core Viewpoint - Deutsche Bank's stock, 德银天下, experienced a significant drop of 43.82% to 5.5 HKD, marking a new low since October 13, with a current decline of 31.36% at 6.72 HKD [1][5]. Group 1: Stock Performance - The stock price surged from 2.3 HKD on September 29 to 9.29 HKD by November 18, representing a 3.3 times increase [3][7]. - As of December 1, the stock closed at 9.88 HKD, reflecting a year-to-date increase of 6.77 times [3][7]. - The stock's trading volume reached 3.3024 million shares, with a market capitalization of 14.659 billion HKD [2][6]. Group 2: Shareholding Structure - The Hong Kong Securities and Futures Commission highlighted that the shareholding of 德银天下 is highly concentrated, with the top 10 shareholders holding 98.9% of the H-shares, equating to 546 million shares, leaving only 1.1% or 6.0545 million shares in public hands [2][6]. - In addition to H-shares, 德银天下 has 1.629 billion domestic shares [2][6].