Group 1 - The company Shenzhen Huaqiang (000062) has received the "Gold Component Partner" certification from Ascend APN [1] - The company has initiated the research and development of Ascend application solutions [1] - The company plans to leverage its distribution strength and technical capabilities to enhance the application of Ascend in edge and end-side scenarios [1]

Group 1 - The company has been deeply engaged in the distribution industry for over 20 years, emphasizing "steady operation" as its foundation for development [1] - The company acknowledges that cross-industry development faces significant risks and challenges [1] - The company plans to gradually advance cooperation with the real economy when the timing is right [1]

Group 1 - The company reported a significant increase in both revenue and profit, with main revenue reaching 45.574 billion yuan, a year-on-year increase of 13.6%, and net profit attributable to shareholders at 610 million yuan, up 34.67% year-on-year [1] - The growth in revenue and profit is attributed to the increasing proportion of high-margin cloud service management and AI computing services, along with efforts in cost control and operational efficiency [1] - The cloud computing sector emerged as a major growth driver, with revenue from this segment reaching 2.62 billion yuan, a remarkable year-on-year growth of 67.88%, supported by deepening collaborations with major cloud providers [1] Group 2 - The Southeast Asian market showed exceptional performance, with revenue growing by 22.5% to 16.7 billion yuan, accounting for 37% of total revenue, making it a core growth engine [1] - The company has established itself as a key partner for the "Starlink" network in Asia, exclusively representing its HPI TKDN products in Malaysia and Indonesia, further expanding its business boundaries [1] - The company is intensifying its focus on AI and cloud computing, managing 25 new-generation integrated intelligent computing centers domestically and planning to launch more AI computing scheduling and management solutions [2] Group 3 - The company is collaborating with leading cloud vendors to explore commercial scenarios in AI large model training and edge computing, leveraging a network of 50,000 channel partners to enhance channel value [2] - The company maintains its profit forecast, expecting net profits attributable to shareholders to be 1.171 billion yuan, 1.349 billion yuan, and 1.535 billion yuan for 2025-2027, corresponding to current P/E ratios of 8.0, 6.9, and 6.1 times [2] - The company continues to expand rapidly in the Southeast Asian market, maintaining an "outperform the market" rating [2]

Group 1 - The core point of the article is that Ying Tang Intelligent Control (SZ 300131) held its sixth board meeting on August 25, 2025, to review the agenda regarding the 2025 semi-annual report and its summary [1] - For the year 2024, the revenue composition of Ying Tang Intelligent Control is as follows: 91.31% from the electronic distribution industry, 8.14% from electronic component manufacturing, 0.33% from the software industry and others, and 0.22% from the electronic intelligent control industry [1] - As of the report date, the market capitalization of Ying Tang Intelligent Control is 10.9 billion yuan [1] Group 2 - The pet industry is experiencing a significant boom, with a market size of 300 billion yuan, leading to a surge in stock prices for related listed companies [1]

Core Viewpoint - Guotai Junan International maintains a "Buy" rating for Weishi Jiajie (00856.HK) and raises the target price to HKD 14.00 based on a 14.3 times 2025 price-to-earnings ratio, following stronger-than-expected earnings in the first half of 2025 [1] Group 1: Financial Performance - The company's earnings per share exceeded expectations by 3.7% in the first half of 2025 [1] - Revenue growth was robust, particularly in the cloud computing segment, which saw a year-on-year increase of 67.9%, surpassing expectations by 8.2% [1] - The net profit forecasts for shareholders have been revised upwards for 2025-2027 to HKD 14.03 billion (+16.0%), HKD 16.28 billion (+19.2%), and HKD 20.36 billion [1] Group 2: Cloud Computing Business - The cloud computing revenue for the first half of 2025 reached HKD 26.20 billion, reflecting a year-on-year growth of 67.9% [2] - Different cloud vendors showed varying growth rates, with Huawei Cloud, Alibaba Cloud, Amazon Web Services, and VMWare growing by 29%, 156%, 293%, and 295%, respectively [2] - The company has secured several projects, including Pengcheng Cloud Brain computing power scheduling and operation management, and has established strong business relationships with domestic chip design companies [2] Group 3: Regional Expansion - The company's Southeast Asia revenue reached HKD 16.735 billion, growing by 22.5% year-on-year [2] - Specific markets in Southeast Asia contributed significantly to growth, with Thailand, the Philippines, Malaysia, and Indonesia showing year-on-year increases of 50.4%, 45.4%, 31.3%, and 29.9%, respectively [2] - A decline in Southeast Asia revenue on a quarter-on-quarter basis was attributed to a non-recurring income in Singapore in the second half of 2024 [2]

Core Viewpoint - The stock of 伟仕佳杰 (00856) has seen a price increase of over 3% during trading, currently at 9.29 HKD with a trading volume of 86.90 million HKD, indicating positive market sentiment towards the company [1] Group 1: Business Performance - 天风证券 (601162) reports that 伟仕佳杰's Southeast Asia operations have diversified across nine countries, including Thailand, Singapore, the Philippines, and Malaysia, focusing on GPU, AI infrastructure, and consumer electronics [1] - The projected revenue for the region in 2024 is expected to increase significantly by 74% year-on-year, with net profit contribution estimated at around 51% [1] Group 2: Growth Drivers - The company is anticipated to benefit from three main drivers: rapid global demand for computing power, accelerated channel expansion in Southeast Asia, and the implementation of new directions such as electric vehicles and cross-border payments [1] - Forecasted net profit for the company from 2025 to 2027 is projected to be 1.251 billion, 1.532 billion, and 1.883 billion CNY, respectively, with growth rates of 30%, 22.4%, and 22.9% [1] Group 3: Valuation Outlook - Given the sustained high growth in global computing power, the accelerated digital infrastructure in Southeast Asia, and the successful diversification of the company's business, the current valuation is believed to have significant upside potential [1]

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。 本公司謹此補充，有關合作將委任經驗豐富的第三方服務提供者（「服務提供者」）， 為本集團提供包括穩定幣結算在內的金融解決方案，旨在實現跨境支付並有效規避外 匯風險（該方案既供本集團自用，亦可作為解決方案服務向客戶提供）。此舉完全基於 本公司對沖外匯風險的實際需求。過往經營中，本公司曾飽受匯率劇烈波動、高昂交 易手續費及冗長結算週期之苦。鑒於東盟地區持續的地緣政治不確定性，當地貨幣可 能面臨進一步波動。本公司在東盟地區從事消費電子、企業增值服務及雲計算解決方 案分銷業務，涉及大量境外上游供應商及客戶，長期承受人民幣、新加坡元、泰銖、 菲律賓比索及印尼盾等多幣種匯率波動風險。通過實施創新型支付系統，本集團將有 效降低運營成本，並顯著提升盈利穩定性。 儘管創新支付系統的運營對本公司（包括其董事及高級管理層）而言是一項全新業務， 但本公司相信服務提供者的專業知識將有助於為本集團成功實施並管理定制化的交易 解決方案 ...