| Friday, March 13, 2026 |
NO.1 Macfield’s second submission to the Hong Kong Stock Exchange
According to news from the Hong Kong Stock Exchange on March 11, Shenzhen Meiketian Biomedical Technology Co., Ltd. (hereinafter referred to as Meiketian) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with Morgan Stanley and Huatai International as joint sponsors. The company submitted a prospectus to the Hong Kong Stock Exchange on September 11, 2025. According to the prospectus, McTian is a global medical device provider that can meet the clinical needs of a wide range of clinical departments, wards and clinics in medical institutions, as well as community health centers, testing institutions and home care scenarios.
Comments: Mycotian’s products cover life support, minimally invasive intervention, in vitro diagnostics and other fields, and it has significant advantages in globalization and coverage in tertiary hospitals.
NO.2 Handhui Group expects net profit in 2025 to be approximately 780 million yuan to 800 million yuan
On the evening of March 11, Handhui Group (HK02621) issued a profit warning on the Hong Kong Stock Exchange. According to the announcement, the group expects net profit to reach 780 million to 800 million yuan in 2025, turning a loss into a profit year-on-year. This is mainly due to gains from changes in the carrying amounts of financial instruments issued to investors. Adjusted net profit is expected to be 186 million to 206 million yuan, a year-on-year decrease of 36 million yuan to 56 million yuan. Although total revenue is expected to achieve positive growth, reaching 1.455 billion yuan to 1.475 billion yuan, the year-on-year increase in various costs and expenses has exceeded the growth in revenue.
Comment: Handhui Group will turn around losses in 2025 by relying on book profits from financial instruments, but its core profits will decline, revenue will increase while costs and expenses will increase at a higher rate, and the pressure on its main business still needs to be improved.
NO.3 Golden Throat expects operating income and profit to drop by 20% to 25% year-on-year in 2025
On the evening of March 11, Golden Throat (HK06896) issued a profit warning on the Hong Kong Stock Exchange. According to the announcement, for the year ending December 31, 2025, the group's expected operating income and profit will decline by between 20% and 25% compared with the same period in 2024. The decrease is mainly due to changes in the industry situation throughout 2025 and adjustments to the Group's product marketing strategies, which caused customer dealers to reduce purchases throughout 2025, resulting in a decrease in the Group's sales and profits throughout 2025.
Comment: Golden Throat's revenue and profit will both decline in 2025, mainly affected by industry changes and marketing strategy adjustments that have led to dealers' reduction in purchases, and may need to optimize channels and product structure.
NO.4 Alibaba’s version of “Pop Mart” is launched in Shanghai and Beijing
According to a report by the Science and Technology Innovation Board Daily on March 12, Alibaba-W (HK09988) has made a new move in the trendy entertainment industry. Its offline trendy entertainment collection store "LUCKY LOOP" has opened in Shanghai and Beijing in a low-key manner, marking the official penetration of the e-commerce giant into the "last mile" of trendy entertainment retail. A reporter recently visited Shanghai and found that the store is a "store-within-a-store" linked to BASEMENT FG. The store has not many people, and the doorstep prominently displays Alibaba's own IP Nooobit, Penny, and Hoya figure samples. It is expected to be online from the end of March to early April, and it will also sell popular and overseas trendy IP products such as TNT.
Comments: Alibaba has deployed offline fashion retail, relying on rich IP and e-commerce ecology, to bring new imagination space to the fashion track.
NO.5 Hong Kong stock market:
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