Core Viewpoint - Hard Egg Innovation (00400) has seen a significant increase in stock price, rising by 3.4% to HKD 3.04, following the announcement of a proposed spin-off and A-share listing for its subsidiary, Keton Technology [1] Group 1: Company Announcement - The Hong Kong Stock Exchange has confirmed that Hard Egg Innovation can proceed with the proposed spin-off and A-share listing according to Listing Rule 15 [1] - Keton Technology, the exclusive distributor for NVIDIA in China, plans to issue new shares and list on a Chinese stock exchange [1] - The company believes that the spin-off will allow investors to better assess the value of the remaining group focused on AIoT business [1] Group 2: Financial Implications - The spin-off is justified as Keton Technology has developed a business scale sufficient for independent listing [1] - Post-spin-off, Keton Technology will continue to be a subsidiary of Hard Egg Innovation, with its income statement and balance sheet items consolidated into the financial reports of Hard Egg Innovation [1] - The board of directors believes that this status will benefit Hard Egg Innovation [1]

Core Viewpoint - Hard Egg Innovation (00400) has received confirmation from the Stock Exchange to proceed with a proposed spin-off and A-share listing, which is expected to enhance investor assessment of the remaining group's value focused on AIoT business [1] Group 1: Company Developments - Hard Egg Innovation's stock opened over 3% higher, currently trading at 3.04 HKD with a transaction volume of 2.3864 million HKD [1] - The company plans to spin off its subsidiary, Keton Technology, which is the general agent for NVIDIA in China and collaborates with over 80 leading chip manufacturers globally [1] Group 2: Financial Implications - The proposed spin-off and A-share listing are believed to allow better valuation of the AIoT-focused segment of the group, as the scale of the spun-off business has reached a level sufficient for independent listing [1] - Keton Technology's financial results will continue to be consolidated into Hard Egg Innovation's financial statements post-spin-off, which is expected to benefit the company [1]

Core Viewpoint - The company, Hard Egg Innovation (00400), announced plans for a proposed spin-off and A-share listing of its subsidiary, Keton Technology, on a Chinese stock exchange, which is expected to enhance investor assessment of the remaining group's value focused on AIoT business [1] Group 1: Proposed Spin-off and Listing - Keton Technology intends to issue new shares and list on a Chinese stock exchange, leading to a reduction in the company's equity stake in Keton Technology [1] - The proposed spin-off and A-share listing will be treated as a sale of the company's equity in Keton Technology as defined by listing rules [1] - The company believes that the spin-off will allow for better valuation of the remaining group focused on AIoT business [1] Group 2: Financial Implications - The business scale of Keton Technology has developed sufficiently to achieve independent listing status [1] - Keton Technology will continue to be a subsidiary of the company, and its income statement and balance sheet items will remain consolidated in the company's financial reports post-spin-off [1] - The board of directors believes that this status will benefit the company [1]

Core Viewpoint - Xiaomi Group's stock has declined over 30% from its peak in June, with a current drop of 3.08% to HKD 42.1, amid increasing short-selling activity by hedge funds [1][1][1] Group 1: Stock Performance - Xiaomi's stock price has fallen to HKD 42.1, representing a decline of over 30% since June's highest point [1] - The trading volume reached HKD 30.76 billion, indicating significant market activity [1] Group 2: Hedge Fund Activity - Hedge fund short positions on Xiaomi surged by 53% in the past week, reflecting growing bearish sentiment [1] - Recent data shows that selling pressure from pension funds and hedge funds has dominated the market in the last two weeks [1] Group 3: Investor Sentiment - Investor sentiment is turning cautious ahead of Xiaomi's third-quarter earnings report scheduled for November 18 [1] - Feedback from hedge funds suggests that Xiaomi is viewed as a consensus short/sell target in the short term due to a lack of catalysts [1] Group 4: Analyst Outlook - Goldman Sachs has lowered its target price for Xiaomi, citing rising storage chip prices that suppress smartphone gross margins [1] - The growth rate of Xiaomi's AIoT business has slowed to single digits, and delays in the electric vehicle phase two factory are impacting deliveries [1]