Core Viewpoint - China Financial Leasing (02312.HK) has announced a conditional agreement for the sale of shares, resulting in a significant change in ownership structure and future investment strategies [1][2][3]. Group 1: Share Sale Agreements - Seller A, Mr. Lin Shusong, and the offeror Longling Capital Ltd have agreed to a sale of 95.71 million shares, representing approximately 27.59% of the total issued shares, for a total cash consideration of HKD 36,368,447.58, equating to HKD 0.38 per share [1]. - Seller B, Like Capital Limited, has agreed to sell 25.56 million shares, representing about 7.37% of the total issued shares, for a total cash consideration of HKD 9,711,498.12 [1]. - Following the completion of these agreements, the offeror will hold approximately 34.96% of the company, necessitating a mandatory conditional cash offer for all issued shares under the takeover code [1]. Group 2: Offer Price and Premium - The cash offer price of HKD 0.38 per share represents a premium of approximately 13.43% over the closing price of HKD 0.335 per share on June 12, the last trading day [2]. Group 3: Future Investment Plans - The offeror intends to maintain the existing investment business of the group post-offer, focusing on a diversified investment portfolio including bonds and financial derivatives in Hong Kong, China, and the U.S. [3]. - Plans include establishing an asset management platform to invest in technology incubation companies in Hong Kong, increasing investments in artificial intelligence, Web3 industries, and digital asset financial products [3]. - The offeror will review the group's operations and business activities to formulate long-term strategies, potentially exploring other investment opportunities and considering capital and debt financing to enhance long-term growth potential [3]. Group 4: Trading Resumption - The company has applied for the resumption of trading of its shares on the Stock Exchange starting from 9:00 AM on June 25, 2025 [4].

证券研究报告 | 2025年06月13日 OSL 集团（00863.HK） 优于大市 净利润首度转正，外延收购加速全球扩张 核心观点 公司研究·海外公司财报点评 传媒·数字媒体 | 证券分析师：张衡 | 证券分析师：陈瑶蓉 | | --- | --- | | 021-60875160 | 021-61761058 | | zhangheng2@guosen.com.cnchenyaorong@guosen.com.cn | | | S0980517060002 | S0980523100001 | | 基础数据 | | | 投资评级 | 优于大市(首次) | | 合理估值 | | | 收盘价 | 12.76 港元 | | 总市值/流通市值 | 7992/7992 百万港元 | | 52 周最高价/最低价 | 13.30/4.16 港元 | | 近 3 个月日均成交额 | 18.61 百万港元 | 市场走势 资料来源：Wind、国信证券经济研究所整理 相关研究报告 2024 年公司业绩首度转正。1）公司是目前亚洲唯一上市的持牌合规虚拟资 产交易所，提供大宗经纪服务、数字资产托管服务、电子交易平台，并为机 构客户 ...