Group 1 - Shougang Longze has delayed its global offering and listing due to a civil lawsuit filed against it, which requires the company to provide more information to investors [1] - The company plans to issue a supplementary prospectus to update the listing timeline and related information [1] Group 2 - Hong Kong Stock Exchange has launched an order transmission service for its Integrated Fund Platform (IFP) to enhance efficiency in the fund distribution ecosystem [2] - The service integrates order processing for fund subscriptions and redemptions, welcoming 33 initial participants including distributors and fund companies [2] Group 3 - Eye care biotech company Bokan Vision Cloud-B saw its stock price drop significantly on its first trading day, closing down 38.61% from its IPO price of 10.1 HKD [3] - The decline may be attributed to market skepticism regarding its valuation and the current market environment for new listings [3] Group 4 - Anjoy Foods had a lackluster performance in the dark market, with its H-shares priced at 60 HKD and a total global offering of approximately 39.99 million shares [4] - Despite being the largest frozen food company in China with a market share of 6.6%, investor concerns about growth prospects and market competition may have impacted its initial reception [4]

Core Viewpoint - Hong Kong Stock Exchange (HKEX) has launched an order transmission service on the Integrated Fund Platform (IFP) to enhance the efficiency of the fund distribution ecosystem in Hong Kong [2][4]. Group 1: Service Launch and Objectives - The order transmission service aims to improve interaction between fund distributors and registered agents, thereby enhancing operational efficiency within the fund distribution industry [4][6]. - The IFP will operate on a business-to-business basis and is being rolled out in phases, with a fund database already recognized for its functionality [5][6]. Group 2: Initial Participation and Future Developments - The first batch of 33 companies, including various fund distributors and asset management firms, has joined the platform [6][8]. - Future phases of the IFP will include the introduction of agent services and enhancements to payment and settlement functions, pending regulatory approval [9]. Group 3: Regulatory Support and Market Impact - The Hong Kong Securities and Futures Commission (SFC) has welcomed the launch of the order transmission service, viewing it as a significant milestone for the IFP and the retail fund industry [9]. - The SFC emphasized that the service will facilitate communication among market participants and enhance collaboration within the fund distribution network, contributing to the digitalization of Hong Kong's capital market infrastructure [9]. Group 4: Collaboration with Shenzhen Stock Exchange - The order transmission service's communication network is supported by the Financial Data Exchange Platform (FDEP) operated by Shenzhen Stock Exchange, which provides secure and efficient data exchange solutions for over 200 financial institutions [10]. - There are plans to explore interoperability between the IFP and the FDEP ecosystem to foster innovation in cross-border wealth management services [10].

Core Viewpoint - The financial technology sector is experiencing growth driven by policy support and increasing IT investments from financial institutions, with the financial technology ETF showing strong performance and inflows [4][5]. Group 1: Market Performance - As of July 3, 2025, the China Securities Financial Technology Theme Index (930986) rose by 0.16%, with notable increases in constituent stocks such as Jingbeifang (002987) up 8.81% and Yinzhijie (300085) up 2.92% [3]. - The financial technology ETF (516860) increased by 5.32% over the past two weeks, with a current price of 1.37 yuan [3]. - The latest scale of the financial technology ETF reached 927 million yuan, marking a one-month high [4]. Group 2: Fund Flows and Investment Trends - The financial technology ETF saw a net inflow of 45.24 million yuan recently, with a total of 69.67 million yuan net inflow over the last five trading days [4]. - Leverage funds are actively participating, with a net purchase of 10.35 million yuan on the previous trading day and a total financing balance of 85.12 million yuan [4]. Group 3: Performance Metrics - The financial technology ETF's net value increased by 101.70% over the past year, ranking 11th out of 2897 index stock funds [5]. - The ETF has a historical average monthly return of 10.60% and a 97.30% probability of profitability over a three-year holding period [5]. - The ETF's management fee is 0.50%, and its tracking error over the past month is 0.038%, indicating high tracking precision [6]. Group 4: Index Composition - The top ten weighted stocks in the China Securities Financial Technology Theme Index account for 51.2% of the index, including companies like Dongfang Caifu (300059) and Tonghuashun (300033) [6].

Group 1 - The Hong Kong Stock Exchange has officially launched the Integrated Fund Platform (IFP) order transmission service [1] - This initiative aims to more effectively connect key participants in the fund distribution ecosystem [1] - The launch is expected to enhance the efficiency of the Hong Kong fund market [1]