香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任 何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 供股所得款項用途的最新變動公佈 茲提述青島控股國際有限公司（「本公司」，連同其附屬公司統稱「本集團」）於 2022年6月30日、2022年7月19日、2023年3月28日及2024年8月7日刊發的公佈（「該等 公佈」）、本公司2024年年度報告（「2024年年報」）及本公司2025年中期報告（「2025 年中報」）。除非本公佈另有界定，本公佈所用詞彙具有該等公佈界定的相同涵義。 所得款項用途變更及預期時間表 誠如2025年中報所披露，於2021年5月11日名列本公司股東名冊的股東以每持有一 股現有股份獲發一股供股股份之供股（「供股」）所得款項淨額（「所得款項淨額」） 為約人民幣159.90百萬元。所得款項淨額人民幣69.35百萬元尚未於2025年6月30日 動用，而於刊發2025年中報時悉數動用未動用所得款項淨額的預期時間表為2025 年12月31日。自2025年6月30日起至本公佈日期，本公司未能發現 ...

Group 1: Market Performance - Tencent reported a quarterly profit of 70.6 billion HKD, an increase of 18% compared to the previous year, exceeding expectations[2] - The Hang Seng Index closed at 27,073 points, up 150 points or 0.56% for the day, with a year-to-date increase of 34.96%[3] - The Shanghai Composite Index rose to 4,029.50 points, reflecting a daily change of 0.73% and a year-to-date increase of 20.22%[3] Group 2: Economic Indicators - The foreign exchange fund earned 274 billion HKD in the first three quarters, marking a record high for the same period[2] - The foreign exchange fund's investment income for the last quarter was 60 billion HKD, a year-on-year decrease of 48%[2] - China's GDP grew by 4.8% year-on-year in Q3, surpassing market expectations of 4.7%[14] Group 3: Stock Recommendations - Wei Long Snacks (9985.HK) has a suggested buy price of 11.50 HKD, with a target price of 13.00 HKD, currently trading at 12.01 HKD[14] - Tencent Holdings (700.HK) has a target price of 550 HKD, with a current price of 554 HKD, reflecting a 6.18% increase from the suggested buy price[11] - BYD Company (1211.HK) has a suggested buy price of 125.22 HKD, with a target price of 141.89 HKD, currently trading at 135.6 HKD[11]

Market Overview - The Hang Seng Index closed at 25,906.65 points, down 1.43% for the day and up 29.15% year-to-date[5] - The total trading volume was HKD 257.612 billion, a decrease of 27.2% from the previous day[7] - The technology index fell by 2.37%, while the financial index decreased by 0.30%[5] Stock Performance - Alibaba (9988.HK) dropped by 4.1%, Xiaomi (1810.HK) fell by 2.2%, and Kuaishou (1024.HK) decreased by 3.1%[7] - Pharmaceutical stocks rebounded, with Sanofi (1530.HK) rising by 11.3% and Innovent Biologics (1801.HK) increasing by 7.8%[7] Economic Indicators - The U.S. stock market showed signs of stabilization, with the Dow Jones up 0.09% and the Nasdaq rising by 0.61%[7] - The U.S. plans to attack military targets in Venezuela, leading to a 0.68% increase in New York crude oil prices, closing at USD 60.98 per barrel[7] Company News - Penske (2469.HK) announced the purchase of 800,000 shares at an average price of HKD 2.796, totaling approximately HKD 2.23688 million[7] - New World Development (17.HK) proposed to replace part of its bonds, potentially issuing up to USD 1.9 billion (approximately HKD 14.82 billion) in new perpetual bonds[7] Technical Analysis - The Hang Seng Index has broken through the short-term support level of 26,200 points, indicating potential volatility in the near term[10] - Short-term support levels to watch are between 25,000 and 25,100 points[10]

Market Overview - The Hang Seng Index is expected to hold at 25,000 points, reflecting a forecasted price-to-earnings ratio of 12 times over the next 12 months [2] - The U.S. Federal Reserve's recent hawkish stance on interest rate cuts has led to reduced expectations for future rate reductions, with the potential for only one cut in 2026 [3] - The U.S.-China trade tensions are anticipated to escalate, impacting investment sentiment and increasing market volatility [2][3] Economic Indicators - In September, China's exports in U.S. dollars grew by 8.3% year-on-year, while imports increased by 7.4%, both exceeding market expectations [8] - The trade surplus for September was reported at $90.45 billion, slightly below the anticipated $98.05 billion [8] - The retail sales volume in China's passenger car market reached 2.241 million units in September, marking a year-on-year increase of 6.3% [8] Corporate News - New China Life Insurance (1336) is expected to report a year-on-year increase in net profit attributable to shareholders of 45% to 65% for the first three quarters [9] - Country Garden (2007) has successfully restructured eight domestic bonds involving approximately 13.4 billion yuan [9] - Xiaomi (1810) faced a tragic incident involving a vehicle fire that resulted in a fatality, raising concerns about vehicle safety features [9] Sector Focus - Gold mining stocks are gaining attention due to heightened risk aversion and rising gold prices [7] - AI concept stocks are also in focus as mainland China accelerates the application of "Artificial Intelligence+" [7] Regulatory Developments - The Securities and Futures Commission has launched a dedicated line for Real Estate Investment Trusts (REITs) to facilitate the listing of new housing REITs [8]

Market Overview - The Hang Seng Index is expected to rise towards 28,000 points due to the extension of the 90-day tariff truce between China and the US, along with improved trade agreements with other countries, easing trade tensions [2] - Despite no improvement in corporate earnings, the resurgence of AI-related stocks is leading the market, with expectations of favorable policies ahead of the October Fourth Plenary Session [2] Sector Focus - The focus is on the US October Michigan Consumer Sentiment Index and the impact of recent macroeconomic data from China, including a 7.6% year-on-year increase in the value added by industrial SMEs in the first eight months [3][8] - The Chinese government has implemented export controls on certain rare earth materials, which may affect related industries [8] Corporate News - Sunny Optical (2382) plans to transfer equity to increase its stake in GoerTek, while Innovent Biologics (2577) is raising over 1.5 billion HKD through an 8% discounted placement [4] - NIO (9866) is restructuring its autonomous driving department to facilitate the development of its World Model 2.0 [4] - Shandong Gold (1787) received a 120 million RMB increase in shareholding from its controlling shareholder [4] IPO Market - KPMG reports that Hong Kong is poised to reclaim its position as the top global IPO market by the end of 2025, with nearly 300 IPO applications submitted, marking a historical high [9] - The first three quarters of 2025 saw a total of 930 IPOs globally, raising 111.6 billion USD, with Hong Kong leading in A+H listings [9] Economic Indicators - The consumer spending during China's Golden Week reached 809 billion RMB, with 888 million domestic trips taken, indicating a strong recovery in consumer confidence [8] - The box office for the National Day holiday in China fell by 13% year-on-year, reflecting a shift towards more refined market preferences [8] Regulatory Developments - The Chinese government has issued a notice addressing the issue of disorderly competition, emphasizing the need for fair pricing practices to maintain market order [8] - New export controls on rare earth materials and related technologies have been implemented to safeguard national security and interests [8]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Pangaea Connectivity Technology Limited 環 聯 連 訊 科 技 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1473） 有關潛在合作之 補充公告 茲提述環聯連訊科技有限公司（「本公司」，連同其附屬公司統稱「本集團」）於二零 二五年八月二十六日刊發之公告（「該公告」），內容有關就潛在合作訂立無法律約 束力的諒解備忘錄。除另有界定者外，本公告所用詞彙與該公告所界定者具有相 同涵義。 本公司預期將認購與Mile Green成立之策略合營企業（「新公司」）的非控股股權（ 投 資 金 額 待 議 ）， 該 合 營 企 業 將 持 有 控 制 權 並 向 新 公 司 注 入 收 入 資 產 。 該 等 資 產 之 最終組成仍須經雙方最終協議，並可能包括東南亞房地產及╱或電動車的收入來 源。 新 ...

Market Overview - The Hang Seng Index is facing resistance at 26,000 points, with recent developments indicating a temporary easing in the US-China trade war and a potential shift in the Federal Reserve's policy stance towards interest rate cuts [2][4][6] - The overall market sentiment remains active, with capital rotating across different sectors, and the expectation is for the market to continue consolidating at high levels [2][4] Company Specifics - New World Development (0016) reported a 0.5% increase in its annual underlying profit, maintaining a dividend of 2.8 HKD [4] - Alibaba (9988) initiated an offer to exchange its outstanding senior notes, involving a total of 2.65 billion USD [4] Economic Indicators - The US Federal Reserve maintained interest rates in July, with expectations of two rate cuts totaling 0.5% by the end of the year, reflecting a cautious approach towards future inflation uncertainties [4][8] - The People's Bank of China conducted a 1 trillion RMB reverse repurchase operation to maintain liquidity in the banking system [8] Sector Focus - The consumer electronics sector is entering its traditional peak season, with major brands set to launch new smartphones [7] - The AI and robotics sectors are seeing increased activity, with initiatives to promote "AI+" applications and advancements in humanoid robots [7][8] Investment Trends - The Chinese stock market saw a net inflow of approximately 3.1 billion USD in August, indicating a significant increase in foreign investment interest [8] - The investment product trading volume reached a record high of 6.07 trillion RMB last year, with a notable increase in participation from various companies [9] Regulatory Environment - Chinese regulators are considering measures to cool down speculative activities in the stock market, including potential restrictions on short selling and speculative trading [8] - The Chinese government is pushing for advancements in chip technology and strengthening the domestic supply chain [8]

Report Summary Global Market Performance - The Hang Seng Index opened 164 points higher but closed 153 points or 0.6% lower at 25,343 points. The China Enterprises Index fell 58 points or 0.6% to 9,050 points, and the Hang Seng Tech Index dropped 44 points or 0.8% to 5,683 points. The total turnover of the market was HK$267.647 billion [1]. - The Shanghai Composite Index lost 44 points or 1.16% to close at 3,813 points, while the Shenzhen Component Index declined 81 points or 0.65% to 12,472 points. The ChiNext Index rose 27 points or 0.95% to 2,899 points [1]. - The Nasdaq Composite Index gained 218 points or 1% to 21,497 points, the Dow Jones Industrial Average fell 24 points to 45,271 points, and the S&P 500 Index rose 32 points or 0.5% to 6,448 points [2]. Central Bank Operations - The People's Bank of China conducted 229.1 billion yuan of seven - day reverse repurchase operations at an unchanged rate of 1.4%. With 379.9 billion yuan of reverse repurchases maturing, there was a net withdrawal of 150.8 billion yuan [1]. Index Changes - FTSE Russell announced the quarterly review results of the FTSE China Index Series for September. The changes will take effect on September 22. The FTSE China A50 Index will include BeiGene (688235.SH), New Fiber Optic Network (300502.SZ), WuXi AppTec (603259.SH), and Zhongji Innolight (300308.SZ), while removing China National Nuclear Power (601985.SH), China Unicom (600050.SH), Guodian NARI (600406.SH), and Wanhua Chemical (600309.SH) [2]. Economic Conditions - The Fed's Beige Book survey showed that economic activity in most parts of the US has remained little changed in recent weeks. Consumer spending was flat or down as wage growth for many households did not keep up with price increases [2][3]. Company Performance - Country Garden (02007.HK) reported that in August, the contract sales attributable to shareholders' equity were about 2.96 billion yuan, down 13.7% year - on - year, and the contract sales area was about 350,000 square meters, unchanged from the previous year [3].

Group 1: Stock Market Performance - Hang Seng Index dropped 222 points or 0.9% to close at 24,858 after four consecutive days of gains; China Enterprises Index fell 86 points or 1%, closing at 8,895; Hang Seng Tech Index declined 86 points or 1.6%, ending at 5,460. Total turnover of the market was HK$206.72 billion, and the net inflow of southbound capital was HK$6.271 billion [1] - Shanghai Composite Index fell 4 points or 0.1% to 3,635, with a turnover of RMB713.6 billion; Shenzhen Component Index dropped 29 points or 0.3% to 11,128, with a turnover of RMB996.7 billion; ChiNext Index declined 8 points or 0.4% to 2,333, with a turnover of RMB500.3 billion [1] - US stocks rose on Friday. The Nasdaq Composite Index rose 207 points or 1% to a record closing high of 21,450; the Dow Jones Industrial Average rose 206 points or 0.5% to 44,175; the S&P 500 Index rose 49 points or 0.8% to 6,389 [2] Group 2: Policy and Exchange Rate - The People's Bank of China conducted 7 - day reverse repurchase operations worth RMB122 billion at an unchanged rate of 1.4% on the 8th, with RMB126 billion of reverse repurchases maturing, resulting in a net回笼 of RMB4 billion. The central parity rate of the RMB against the US dollar was lowered by 37 points to 7.1382 [1] - On the 8th, the CFETS RMB exchange - rate index fell 0.90 week - on - week to 96.04; the BIS currency basket RMB exchange - rate index dropped 1.05 to 101.76; the SDR currency basket RMB exchange - rate index also declined 0.78 to 90.82 [2] Group 3: Company - Specific News - NVIDIA (NVDA.US) and AMD (AMD.US) agreed to pay 15% of their sales revenue from Chinese chips to the US government as a condition for obtaining export licenses to China. The US Commerce Department issued an export license for NVIDIA's H20 chips to China last week [2] - The WeChat public account "Yuyuantan Tian" under CCTV discussed the "backdoor" issue of NVIDIA's H20 AI chips. Professional人士 believe that functions like "tracking and positioning" and "remote shutdown" can be technically achieved [3] - In July 2025, the national consumer price index (CPI) was flat year - on - year. The average CPI for the first seven months of 2025 was 0.1% lower than the same period last year [3] - Greentown China (03900.HK) issued a profit warning, expecting its profit for the six months ended June to decline by about 90% compared to the same period in 2024, mainly due to uneven delivery rhythm and asset impairment losses [3] - HKT (00215.HK) reported its interim results for the six months ended June. Its turnover was HK$2.216 billion, up 7.7% year - on - year. It turned a profit of HK$6 million, compared to a loss of HK$12 million in the same period last year, and declared an interim dividend of 2.28 HK cents per share [4]

Market Performance - Hang Seng Index fell by 403 points, or 1.6%, closing at 24,773 points[1] - Shanghai Composite Index dropped by 42 points, or 1.18%, closing at 3,573 points[2] - S&P 500 decreased by 23 points, or 0.4%, closing at 6,339 points, marking the third consecutive day of decline[2] Currency and Economic Indicators - Hong Kong Monetary Authority bought HKD 39.25 billion during New York session due to a weak HKD[1] - People's Bank of China conducted a 7-day reverse repo operation of CNY 283.2 billion at a steady rate of 1.4%[2] - July's official manufacturing PMI in China fell to 49.3, below expectations[2] Real Estate and Corporate Performance - Top 100 real estate companies in China reported total sales of CNY 2.07 trillion in the first seven months, a year-on-year decline of 13.3%[4] - Internet and related services companies in China generated revenue of CNY 961.3 billion in H1, a year-on-year growth of 3.1%[4] - Sinopec expects H1 2025 net profit to be between CNY 20.1 billion and CNY 21.6 billion, a year-on-year decline of 39.5% to 43.7%[6] Automotive Sector - XPeng Motors delivered 36,717 smart electric vehicles in July, a year-on-year increase of 229%[7] - Cumulative deliveries exceeded 800,000 units as of July, with a total of 233,906 units delivered in the first seven months, marking a 270% year-on-year growth[7]