[Major Events] Busyming (01768) will conduct its public offering from January 20 to January 23, planning a global offering of 14.1011 million H shares and has introduced cornerstone investors including Tencent. Skyworth Group (00751) plans to privatize and delist, subsequently spinning off its photovoltaic business for a separate listing, with trading resuming on January 21. Insilico (03696) has entered into a global strategic collaboration with Hengtai Biotech valued at over HKD 500 million to jointly develop a novel blood-brain barrier-penetrating NLRP3 inhibitor. TCL Electronics (01070) has signed a memorandum of understanding with Sony for strategic cooperation in the home entertainment sector, proposing to establish a joint venture to build a foundation for further business growth. Alliance Material (01473) has secured sales orders with a total value exceeding USD 280 million, which will firmly position the Group within the supply chains of global industry leaders. CIMC Enric (03899) plans to place up to 79.7 million new shares at a discount of approximately 7.73%, aiming to raise net proceeds of about HKD 774 million. CMOC Group (03993) intends to issue USD 1.2 billion in zero-coupon guaranteed convertible bonds due 2027 under a general mandate. China Oilfield Services (02883) has converted its creditor's rights in COSL Norwegian AS into an equity investment, involving approximately USD 746 million. Ascletis Pharma-B (01672): Ascletis has selected ASC37, a novel once-monthly subcutaneous GLP-1R/GIPR/GCGR triple-target agonist peptide, for clinical development. Heartwise Medical-B (06609): The registration application for its self-expanding intracranial drug-eluting stent has been accepted by the National Medical Products Administration. Longqi Technology (09611) has set its final offer price at HKD 31 per share. Etern Bio-Tech (06978) plans to issue HKD 270 million in new convertible bonds and HKD 30 million in notes to JZ Capital to settle the principal amount of its 2023 convertible bonds.
[Project Investments] China Tourism Group Duty Free (01880)'s subsidiary plans to acquire all issued share capital of DFS Cotai Limitada. Xinjiang Torch Energy (02798) plans to invest approximately RMB 114 million to increase its capital in Guizhou Huaneng Jiayuan Coal Industry Co., Ltd. to obtain a 51% equity stake. Crystal International Group (02232) plans to acquire land in Egypt for USD 30.4 million. Future Development (01030) plans to sell the entire equity interest in Future JF Asset Management and Future JF Securities for HKD 25.23 million and HKD 62.82 million, respectively.
[Share Repurchases/Changes in Holdings] Kuaishou-W (01024) repurchased 393,000 shares on January 20 for HKD 29.9525 million. Geely Automobile (00175) spent approximately HKD 63.6286 million to repurchase 378,800 shares on January 20. Sunny Optical Technology (02382) repurchased 1.4 million shares on January 20 for HKD 88.6084 million. Xiaomi Group-W (01810) repurchased 5.5 million shares on January 20, spending HKD 196 million.
[Operational Performance] Joinn Laboratories (06127) expects to achieve an attributable net profit of approximately RMB 233 million to RMB 349 million in 2025, representing a year-on-year increase of about 214.0% to 371.0%. China Longgong (03339) issued a profit alert, anticipating a significant annual increase in net profit. Heartwise Medical-B (06609) issued a profit alert, expecting 2025 revenue to be approximately RMB 400 million to RMB 410 million, a year-on-year increase of at least 43.9%. Anta Sports (02020): In 2025, retail sales of Anta brand products achieved low single-digit positive growth, while retail sales of FILA brand products achieved mid single-digit positive growth. Anton Oilfield Services (03337) secured new orders worth RMB 2.084 billion in the fourth quarter, a decrease of 20% year-on-year.
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