Core Viewpoint - Starcoin Group Limited (formerly known as Innovative Pharmaceutical Biotech Limited) experienced a significant stock price drop, with a decline exceeding 70% following a notification from the Hong Kong Stock Exchange regarding insufficient operational levels and asset value to support continued listing [1][2]. Group 1: Company Announcement and Stock Performance - On November 14, 2025, the company received a letter from the Stock Exchange indicating that it failed to maintain sufficient operational levels and asset value, leading to a decision to suspend trading of its shares on November 26, 2025 [2][3]. - The company had previously announced a failed placement agreement to issue up to 145 million shares at HKD 0.415 per share, as the conditions precedent were not met by September 11, 2025 [1][3]. Group 2: Financial Performance - For the fiscal year ending March 31, 2025, the company reported a revenue of HKD 2.091 million, a year-on-year decrease of 68.28%, and a net loss attributable to shareholders of HKD 346 million, compared to a profit of HKD 103 million in the previous year [5]. - The basic earnings per share for the reporting period were -HKD 0.2001, with net cash flow from operating activities at -HKD 10.555 million, a decrease of HKD 2.276 million year-on-year [5].

又见闪崩！ 目前，该公司董事会已决定将上述决定提交上市委员会复核，并正在编制相关要求函件。 此前，该公司以每股0.415港元配售最多1.45亿股的配售协议已失效。原因是协议中的先决条件未能在2025年9月11日或之前达成。因此，此次配售事项将不会进行， 配售代理及公司双方的责任均已终止，且双方不得就此协议向对方提出任何索赔。 曾一度暴涨 今日早盘，港股星太链集团直线闪崩，跌幅一度超过70%。 据星太链集团公告，2025年11月17日公司公告显示，于2025年11月14日接获联交所决定，因未能维持足够运营水平和足够价值的资产，股份将于2025年11月26日暂 停买卖。 该公司此前发布公告称，原定以每股0.415港元配售最多1.45亿股的配售协议已失效。原因是协议中的先决条件未能在2025年9月11日或之前达成。因此，此次配售事 项将不会进行，配售代理及公司双方的责任均已终止，且双方不得就此协议向对方提出任何索赔。 暴击来了 今早，星太链集团发布公告称，2025年11月14日，公司接获联交所的函件，通知公司其作出的决定，即经考虑联交所可得资料(包括公司的提呈文件)，根据第13.24 条的规定，公司未能维持足够的运 ...

Core Viewpoint - The August PMI indicates a divergence among industries, with manufacturing stabilizing slightly, service sectors improving significantly, and construction experiencing a notable decline. However, all three sectors show a common trend of improving sales prices [1][5]. Manufacturing Sector - The August manufacturing PMI stands at 49.4, slightly up from 49.3 in July, indicating a need for further support for actual growth [5]. - The production index is above 50 at 50.8, reflecting a stronger production performance compared to new orders, which remain below 50 [9][10]. - The consumer goods sector is a major drag on manufacturing PMI, while high-tech manufacturing shows strength, and both equipment manufacturing and basic raw materials industries show slight improvements [10] - The raw material purchase price index rose to 53.3, up 1.8 points, while the factory price index increased to 49.1, up 0.8 points, marking the third consecutive month of price increases [11][12]. Service Sector - The service sector PMI for August is 50.5, up from 50.0, indicating a positive trend influenced by capital market services, which have seen a business activity index above 70 for two consecutive months [5][10]. - Retail sentiment remains weak, suggesting challenges in consumer spending [10]. Construction Sector - The construction PMI dropped to 49.1 from 50.6, attributed to adverse weather conditions and a slowdown in construction activities [18]. - Fiscal spending on infrastructure showed a year-on-year decline of 3.6% in July, continuing a trend of low spending [18]. Economic Indicators - The three "soft indicators" for August reveal low absolute values, indicating a short-term economic slowdown compared to the first half of the year [19]. - Price indicators show a continuous improvement, which may influence future PPI trends [19]. - The manufacturing inventory index decreased to 46.8, while the raw material inventory index increased to 48.0, reflecting a proactive approach by companies to replenish stocks in response to rising prices [16][15]. Future Outlook - Attention is needed on the government's emphasis on stabilizing construction and actual growth, as well as whether the continuous improvement in PMI price indicators can translate into a rise in PPI [19]. - The manufacturing production expectation index rose to 53.7, the highest since April, indicating improved business expectations possibly linked to price expectations [17].