盘面上，大型科技股普遍走低，阿里巴巴跌4.65%，腾讯跌1.77%。AI概念相关股今日悉数下挫，中 芯、华虹均跌超6%；广期所对碳酸锂限仓，碳酸锂期货今日跌停，"锂矿双雄"均跌超一成；澳门预期 明年博彩收入2360亿澳门元，博彩股集体承压；加密货币市场抛售潮持续，相关概念股下行；医药、有 色、光伏等纷纷飘绿。另一边，个别内房股逆市上升，富力地产涨5%。 1. 科技股全天承压。截至收盘，中芯国际(00981)跌6.39%，报68.8港元；华虹半导体(01347)跌6.09%， 报73.25港元；阿里巴巴-W(09988)跌4.65%，报147.6港元；腾讯(00700)跌1.77%，报610港元。 智通财经APP获悉，隔夜美股市场上演过山车行情，港股今日随外围向下，恒指及国指跌超2%，恒科 指数则大跌超3%。截止收盘，恒生指数跌2.38%或615.55点，报25220.02点，全日成交额为2857.02亿港 元；恒生国企指数跌2.45%，报8919.78点；恒生科技指数跌3.21%，报5395.49点。全周来看，恒指累跌 5.09%，国指累跌5.09%，恒科指数累跌7.18%。 国证国际指出，当前市场正处于关键 ...

因此，于2025年11月20日，澳娱综合与十六浦娱乐集团有限公司(十六浦，一间由澳娱综合持有51%权 益的附属公司)，相互同意及订立终止协议。根据上市规则第十四A章，十六浦并非公司的关联人士。 根据终止协议，由相同订约方订立日期为2022年12月30日(经日期为2023年3月30日的补充协议修订)的 《提供服务协议》将自2025年11月29日起提前终止。于终止后，十六浦将不再于十六浦娱乐场向澳娱综 合提供服务，而十六浦娱乐场将结束营运。 董事会认为，终止协议及结束十六浦娱乐场将不会对集团整体的业务、经营、流动性或财务状况产生任 何重大不利影响。 澳博控股(00880)公布，承接董事会先前有意收购十六浦娱乐场的所在物业，经过全面审慎的业务评 估，以及对长远业务布局、商业考量及本集团整体资源优先分配的深入考虑后，澳娱综合将不会进行该 收购。是次结果反映了集团审慎务实的资本规划，以及其专注于强化核心业务以配合市场发展和集团长 远发展的战略方针。 ...

Core Viewpoint - OKURA HOLDINGS has seen a significant stock price increase of over 90% following the announcement of a share placement agreement, indicating strong market interest and potential for capital raising [1][2]. Group 1: Share Placement Details - The company has entered into a placement agreement with a placement agent to issue up to 120 million shares at a price of HKD 0.18 per share, which represents a premium of approximately 14.65% over the closing price of HKD 0.157 on the date of the agreement [1]. - If the share placement is fully subscribed, the total proceeds from the placement are expected to be HKD 21.6 million, with net proceeds estimated at around HKD 19 million after deducting commissions and other costs [2]. Group 2: Use of Proceeds - The company plans to allocate approximately 50% of the net proceeds for the purchase of Japanese pachinko machines and 30% for the renovation or enhancement of existing Japanese pachinko game halls and marketing expenses [2]. - The remaining 20% of the net proceeds will be used for general operational funding [2].

Core Viewpoint - Galaxy Entertainment's Q3 2025 performance aligns with market expectations, showing a revenue of HKD 12.163 billion, a 14% year-on-year increase and a 1% quarter-on-quarter increase, recovering to 96% of Q3 2019 levels [1] Financial Performance - Adjusted EBITDA for the company was HKD 3.341 billion, reflecting a 14% year-on-year increase but a 6% quarter-on-quarter decline, recovering to 81% of Q3 2019 levels, closely matching Bloomberg's expectation of HKD 3.321 billion [1] - The increase in operational expenditure and normalization of VIP business win rates are identified as key factors affecting performance [1] Development Trends - Galaxy aims for a total gaming revenue market share of 20-22%, with strong performance noted in October 2025 due to higher VIP business win rates [1] - Management observed an improvement in demand in the last weeks of October 2025, with expectations for a strong finish in Q4 2025 [1] - One-time marketing expenses during the summer led to a 300 basis point decline in profit margins, while average fixed operating costs remained stable compared to Q2 2025 [1] - The company plans to host large concerts and sports events in Macau, having signed partnerships with UFC, Tencent, and Damai for various events and services [1] - Galaxy intends to relocate some gaming tables from Galaxy Macau to the StarWorld Hotel, anticipating demand from existing satellite casino customers after the satellite casino's closure at the end of 2025 [1] - Phase 4 of Galaxy is expected to be completed by 2027, with Broadway potentially serving as future land reserves for redesign or reconstruction for Phase 5 expansion [1] - Despite delays in the legalization of Thai gambling, Galaxy remains interested in investment opportunities in Thailand [1] Earnings Forecast and Valuation - Due to increased operational expenditures, the adjusted EBITDA forecasts for 2025 and 2026 have been revised down by 1% and 3% to HKD 14.031 billion and HKD 14.923 billion, respectively [2] - The current stock price corresponds to 9 times the 2026 EV/Adjusted EBITDA, with a maintained "outperform" rating and a target price of HKD 44.80, indicating a 16% upside potential based on an 11 times 2026 EV/Adjusted EBITDA valuation [2]

Core Viewpoint - OKURA HOLDINGS (01655) has announced a conditional placement agreement to issue up to 120 million shares at a price of HKD 0.18 per share, representing a premium of approximately 14.65% over the closing price of HKD 0.157 on the date of the agreement [1] Group 1: Placement Details - The placement will involve at least six subscribers and is expected to increase the company's total issued share capital by approximately 16.7% if all shares are successfully placed [1] - The total expected proceeds from the placement are HKD 21.6 million, with a net amount of approximately HKD 19 million after deducting placement agent commissions and other costs [1] Group 2: Use of Proceeds - The company plans to allocate approximately 50% of the net proceeds for the purchase of Japanese pachinko machines and Japanese slot machines [1] - About 30% of the net proceeds will be used for renovating or upgrading existing Japanese pachinko game halls and for marketing expenses [1] - The remaining approximately 20% will be utilized for general working capital of the group [1]

Core Viewpoint - OKURA HOLDINGS has entered into a placement agreement to issue up to 120 million shares at a price of HKD 0.18 per share, representing a premium of approximately 14.65% over the closing price on the date of the agreement [1] Group 1: Placement Details - The company has appointed a placement agent to facilitate the placement to at least six subscribers [1] - The total expected proceeds from the placement, if fully subscribed, will amount to HKD 21.6 million, with a net amount of approximately HKD 19 million after expenses [1] Group 2: Use of Proceeds - Approximately 50% of the net proceeds will be allocated for the purchase of Japanese pachinko machines and Japanese slot machines [1] - About 30% of the net proceeds will be used for the renovation or enhancement of existing Japanese pachinko game halls and for marketing expenses [1] - The remaining approximately 20% will be utilized for general working capital of the group [1]

Core Viewpoint - OKURA HOLDINGS has announced a placement agreement to issue up to 120 million shares at a price of HKD 0.18 per share, representing a 14.65% premium over the closing price on the agreement date [1] Group 1: Placement Details - The placement will involve at least six subscribers and is expected to raise approximately HKD 21.6 million, with a net amount of around HKD 19 million after deducting commissions and expenses [1] - The maximum number of shares to be placed represents about 16.7% of the company's enlarged issued share capital post-placement [1] Group 2: Use of Proceeds - Approximately 50% of the net proceeds will be allocated for the purchase of Japanese pachinko machines, while 30% will be used for refurbishing existing game halls and marketing expenses [1] - The remaining 20% of the net proceeds will be utilized for general working capital of the group [1]

Group 1 - The core point of the article is that Macau Legend Development Limited (01680.HK) has decided to terminate its service agreement with Australia Leisure Group Limited, which was originally set to expire on December 31, 2025, and will now end early on November 13, 2025 [1] - The termination of the service agreement will lead to the closure of the Legend Palace Casino located at Fisherman's Wharf in Macau [1] - The company will implement appropriate measures to ensure an orderly shutdown of the casino operations [1]

Core Insights - U.S. stocks experienced a decline, with the Dow Jones index dropping over 400 points on Thursday [1] - Datadog, Inc. reported strong third-quarter financial results, exceeding expectations, and raised its guidance for the fourth quarter and FY25 [1][2] Datadog, Inc. - Datadog's quarterly earnings were 55 cents per share, surpassing the analyst consensus estimate of 46 cents per share [2] - The company reported quarterly sales of $885.651 million, exceeding the analyst consensus estimate of $852.781 million [2] - Following the earnings report, Datadog shares surged 20% to $186.13 [2] Other Notable Stocks - Forge Global Holdings, Inc. shares increased by 67.6% to $43.80 after an acquisition agreement with Charles Schwab [4] - Golden Entertainment, Inc. gained 40% to $29.77 following an acquisition announcement at $30 per share [4] - Stagwell Inc. surged 38.2% to $6.65 after reporting better-than-expected third-quarter results and issuing FY25 sales guidance above estimates [4] - SiTime Corporation rose 37.5% to $383.00 after reporting strong quarterly results and receiving a price target increase from Needham [4] - Fastly, Inc. gained 28.3% to $10.35 after raising its full-year earnings and sales guidance [4] - Brighthouse Financial, Inc. increased by 27.3% to $65.94 following an acquisition agreement at $70 per share [4] - Hecla Mining Company rose 26.7% to $15.35 after reporting better-than-expected quarterly results [4] - Haemonetics Corporation gained 24% to $62.87 following positive quarterly results [4] - Forward Air Corporation jumped 23% to $21.75 after third-quarter results [4] - Warrior Met Coal, Inc. gained 21.3% to $80.10 after beating third-quarter earnings and revenue estimates, with a price target increase from BMO Capital [4] - Penumbra, Inc. jumped 20% to $270.56 after reporting strong quarterly results and raising FY25 sales guidance [4] - Coherent Corp. gained 14.3% to $153.84 after better-than-expected first-quarter results and issuing second-quarter sales guidance above estimates [4] - Planet Fitness, Inc. rose 11.4% to $102.16 after beating third-quarter earnings and revenue estimates [4] - Air Products and Chemicals, Inc. gained 10% to $261.19 after reporting better-than-expected quarterly adjusted EPS results and issuing FY26 adjusted EPS guidance above estimates [4] - Snap Inc. rose 10% to $8.03 after reporting better-than-expected third-quarter results [4] - WW International, Inc. gained 9% to $36.19 following third-quarter results [4]

Core Viewpoint - Melco International Development's subsidiary, Melco Resorts & Entertainment, reported a significant increase in operational revenue for Q3 2025, driven by improved performance in both gaming and non-gaming operations [1] Financial Performance - Total operational revenue for Q3 2025 reached $1.31 billion, an increase of approximately 11% compared to $1.18 billion in Q3 2024 [1] - Operational income for Q3 2025 was $184.5 million, up from $138.6 million in Q3 2024 [1] - Adjusted property EBITDA for Q3 2025 was $380.4 million, compared to $322.6 million in Q3 2024 [1] Net Income - Net income attributable to Melco Resorts for Q3 2025 was $74.7 million, or $0.19 per American Depositary Share, compared to $27.3 million, or $0.06 per American Depositary Share in Q3 2024 [1] - Non-controlling interests reported net losses of $12.6 million and $14.6 million for Q3 2025 and Q3 2024, respectively, primarily related to losses from Studio City and City of Dreams Mediterranean [1]