Core Viewpoint - Sands China (01928) experienced a significant increase in stock price, rising over 3% to HKD 20.58, with a trading volume of HKD 223 million, indicating positive market sentiment towards the company's performance in Q3 2025 [1] Group 1: Financial Performance - First Shanghai's report highlights that Sands China's Q3 2025 performance was strong, driven by the full operation of the Londoner Phase II and new promotional strategies, which are expected to enhance both revenue and profit [1] - The report anticipates that the company's EBITDA will reach between USD 2.7 billion and USD 2.8 billion in the short term, reflecting a positive outlook for financial growth [1] Group 2: Market Position and Strategy - The company has seen a recovery in market share due to the comprehensive service launch of the Londoner Phase II and the implementation of new promotional strategies [1] - Industrial growth and the company's new strategies are expected to further improve market share and EBITDA, indicating a favorable competitive position [1] Group 3: Regional Impact and Future Outlook - According to Industrial Securities, Sands China's Q3 2025 results showed continued quarter-on-quarter improvement, with both revenue and EBITDA experiencing year-on-year growth compared to the previous two quarters [1] - The report notes that the South China region faced temporary impacts from typhoons affecting visitor numbers to Macau, suggesting that EBITDA performance could have been even better without these disruptions [1] - The company is actively adjusting its strategies to capture new market shares, with expectations that the Londoner will gradually unlock its potential [1]