法律研究 | 安杰世泽香港资本市场及金融监管动态（2025年10月刊）

联交所对东方汇财证券国际控股有限公司及六名前董事的纪律行动（2025年10月8日）

Exchange's Disciplinary Action against Orient Securities International Holdings Limited and Six Former Directors（October 8 2025）

违规事项

东方汇财证券国际控股有限公司（该公司）董事会严重失职，未有妥善管理并监督该公司的放债业务。尽管借款人欠款违约情况增加，且核数师亦针对多笔贷款的执行性发出警号，但该公司的董事未采取行动以保障该公司的资产，导致该公司蒙受重大减值亏损。

监管要点

董事会对发行人的管理及经营共同及个别承担责任，因此每名董事均须积极关心发行人事务，并对发行人业务有全面理解，在发现任何欠妥事宜时亦必须跟进。

Breach

This case involves serious failures of the board to appropriately manage and supervise the Orient Securities International Holdings Limited (Company)'s money lending business. Despite increasing defaults of borrowers and auditors raising red flags as to the enforceability of loans, the Company's directors failed to act and safeguard the Company's assets which led to significant impairment losses for the Company.

Key Points of Supervision

The board collectively and individually bears responsibility for the management and operations of an issuer. This requires each director to take an active interest in the issuer's affairs, obtain a general understanding of its business and follow up anything untoward that comes to his/her attention.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/Regulatory-Announcements/2025/251008news?sc_lang=zh-CN

联交所对星宇（控股）有限公司两名前董事的纪律行动（2025年10月23日）

Exchange's Disciplinary Action against Two Former Directors of Universal Star (Holdings) Limited（October 23 2025）

违规事项

吕庆星先生及吕竹风先生违反其该以合理的技能、谨慎和勤勉行事及以星宇（控股）有限公司利益行事的董事职责。他们未有促使该公司遵守《上市规则》下有关披露及批准的规定。鉴于吕庆星先生从贷款款项及抵押得到好处，二人亦未有采取行动避免利益冲突或向该公司其他董事汇报有关利益冲突。

监管要点

上市申请人的董事对上市文件的准确性和完整性负有主要责任。他们不得向保荐人及投资者隐瞒重大财务负债或其他重大资料。如有疑问，他们应及时谘询保荐人。

董事也对发行人负有诚信责任。他们必须保障发行人资产、采取行动避免利益冲突以及按发行人及其股东的整体利益行事。他们也必须促使发行人遵守《上市规则》。 

Breach

Mr Lu and Mr Lyu breached their directors' duties to exercise reasonable skill, care and diligence and act in the interests of the Company. They had failed to procure the Company to comply with the disclosure and approval requirements under the Listing Rules. Given Mr Lu's benefit from the loan proceeds and the pledge, they had also failed to take steps to avoid or report the conflict of interest to the other directors of the Company.

Key Points of Supervision

Directors of a listing applicant are primarily responsible for the accuracy and completeness of the listing documents. They must not hide material financial liabilities or other material information from the sponsor and investors. When in doubt, they should consult the sponsor in a timely manner.

Directors also owe fiduciary duties to the issuer. They must safeguard the issuer's assets, take steps to avoid conflicts of interest and act in the interests of the issuer and its shareholders as a whole. They must also procure the issuer's compliance with the Listing Rules. 

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/Regulatory-Announcements/2025/251023news?sc_lang=zh-CN

证监会暂时吊销罗伟汉的牌照四个月（2025年10月2日）

SFC suspends Joey Lo Wai Hon for four months (2 October 2025)

违规事项

名泰富证券有限公司（名泰富）没有维持有效的政策及程序，以确保信贷风险获得适当的管理，亦没有维持有效的持续监察系统，以识别、审查及报告可疑交易模式，违反《操守准则》以及其他有关风险管理和打击洗钱及恐怖分子资金筹集的监管规定。名泰富的缺失可归因于罗伟汉在关键时间没有履行他作为名泰富的负责人员兼高级管理层成员的职责。

监管要点

罗伟汉在2018年8月2日至2021年4月20日期间隶属名泰富证券有限公司（名泰富），并就第1类（证券交易）受规管活动获核准以其负责人员的身分行事。他在2018年8月2日至2021年4月12日期间亦为名泰富的主要业务的核心职能主管。直至2025年8月17日，罗为另外两家持牌法团的持牌代表。截至2025年10月2日，罗仍然持有有效的牌照，但现时并不隶属任何主事人。

Breach

MTF Securities Limited (MTF) failed to maintain effective policies and procedures to ensure the proper management of credit risks and an effective ongoing monitoring system to identify, examine and report suspicious trading patterns, in breach of the Code of Conduct as well as other regulatory requirements on risk management and anti-money laundering and counter-financing of terrorism. MTF's failures were attributable to Mr Joey Lo Wai Hon's failure to discharge his duties as an RO and a member of the senior management of MTF at the material time.

Key Points of Supervision

Mr Joey Lo Wai Hon was accredited to MTF and approved to act as its RO for Type 1 (dealing in securities) regulated activity from 2 August 2018 to 20 April 2021. He was also MTF's manager-in-charge for key business line from 2 August 2018 to 12 April 2021. Lo was a licensed representative of two other licensed corporations until 17 August 2025. His licence remains active as of 2 October 2025 but he is currently not accredited to any principal.

详见：

https://sc.sfc.hk/TuniS/apps.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/enforcement-news/doc?refNo=25PR163

UBS AG因错误分类专业投资者遭证监会谴责及罚款800万元（2025年10月20日）

SFC reprimands and fines UBS AG $8 million for professional investor misclassification (20 October 2025)

违规事项

UBS AG（UBS）将若干联权共有帐户错误地分类为专业投资者帐户，而事实上这些帐户应被分类为非专业投资者帐户（非专业投资者客户）。

UBS AG（UBS） incorrectly classified certain joint accounts as PI accounts when in fact they ought to be classified as non-professional investors' accounts (Non-PI Clients). 

监管要点

1. 限于专业投资者的产品包括根据《香港联合交易所有限公司证券上市规则》第三十七章上市的债券、累计认购期权合约、累计认沽期权合约，以及具有弥补亏损特点的产品。

   
   

2. UBS 根据《证券及期货条例》获注册进行第1类（证券交易）、第4类（就证券提供意见）、第6类（就机构融资提供意见）、第7类（提供自动化交易服务）及第9类（提供资产管理）受规管活动。

Breach

UBS AG（UBS） incorrectly classified certain joint accounts as PI accounts when in fact they ought to be classified as non-professional investors' accounts (Non-PI Clients). 

Key Points of Supervision

1. PI-Restricted Productsinclude, among others, bonds listed under Chapter 37 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, accumulators, decumulators, and products with loss absorption features.

   
   

2. UBS is registered under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance), Type 7 (providing automated trading services) and Type 9 (asset management) regulated activities.

详见：

https://sc.sfc.hk/TuniS/apps.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/enforcement-news/doc?refNo=25PR167

星宇前董事在证监会与香港交易所合作采取行动后遭受纪律处分（2025年10月23日）

Former directors of Universal Star disciplined following SFC-HKEX enforcement collaboration (23 October 2025)

违规事项

星宇（控股）有限公司（星宇）前非执行董事吕庆星（男）从贷款和抵押中谋取私利，由此可见吕庆星及前执行董事吕竹风（男）（即吕庆星的儿子）亦没有妥善管理利益冲突问题。这显然违反了他们的受信责任，对投资者的利益造成重大损害。

监管要点

上市申请人及上市公司的董事必须履行其受信责任，并确保完全遵守证监会及联交所执行的相关规则和规例，这是至关重要的。董事会亦须在披露财务活动和信息以及管理利益冲突方面，以高透明度、勤勉尽责和诚实可靠的方式行事。

Breach

Mr Lu Qingxing, former non-executive director, and his son, Mr Lyu Zhufeng, former executive director, of Universal Star (Holdings) Limited (Universal Star), they had also failed to manage conflicts of interest properly given that the father personally benefited from the loans and the pledge – an obvious breach of their fiduciary duties and caused significant prejudice to investors' interests.

Key Points of Supervision

It is of critical importance that directors of listing applicants and listed companies fulfil their fiduciary duties and ensure full compliance with relevant rules and regulations enforced by the SFC and the Exchange. Boards of directors must also act with transparency, diligence and integrity, particularly in disclosing financial activities and information and managing conflicts of interest.

详见：

https://sc.sfc.hk/TuniS/apps.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/enforcement-news/doc?refNo=25PR172

证监会禁止郑礼豪重投业界七个月（2025年10月27日）

SFC bans Cheng Lai Ho for seven months (27 October 2025)

违规事项

在2017年8月至2022年4月期间，郑礼豪以其母亲的名义于某家外部经纪行开立和维持一个证券保证金帐户，并透过该帐户进行了超过260笔个人交易。他没有就此向交通银行股份有限公司及交通银行（香港）有限公司（统称交通银行）披露其在该帐户的个人利益，申报个人交易，向交通银行提供相关的户口结单，及在出售该帐户内的股份前未有按照交通银行所要求的最短持有期持有该等股份。

监管要点

郑礼豪在2017年4月7日至2018年1月28日期间，是受聘于交通银行股份有限公司以进行《证券及期货条例》下第1类（证券交易）及第4类（就证券提供意见）受规管活动的有关人士；及在2018年1月22日至2022年4月29日期间，是受聘于交通银行（香港）有限公司以进行该条例下第1类及第4类受规管活动的有关人士。郑现时没有名列于香港金融管理局的纪录册，亦非证监会的持牌人。

Breach

Between August 2017 and April 2022, Mr Cheng Lai Ho opened and maintained a securities margin account at an external brokerage firm in the name of his mother and conducted over 260 personal trades through the account. In this connection, he did not disclose to Bank of Communications Co., Ltd. and Bank of Communications (Hong Kong) Limited (collectively, BOCOM) his personal interest in the account, report his personal trades, provide the relevant statements of account to BOCOM, and hold the shares in the account for the minimum holding period required by BOCOM before selling them.

Key Points of Supervision

Cheng was a relevant individual engaged by Bank of Communications Co., Ltd. to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities under the Securities and Futures Ordinance (SFO) between 7 April 2017 and 28 January 2018, and Bank of Communications (Hong Kong) Limited to carry on Type 1 and Type 4 regulated activities under the SFO between 22 January 2018 and 29 April 2022. Cheng is currently not registered with the Hong Kong Monetary Authority or licensed by the SFC.

详见：

https://sc.sfc.hk/TuniS/apps.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/enforcement-news/doc?refNo=25PR174

证监会暂时吊销邓伟财的牌照七个月（2025年10月28日）

SFC suspends Tang Wai Choi for seven months (28 October 2025)

违规事项

在2019年7月10日至2019年12月10日期间，山证国际证券有限公司（山证国际证券）前持牌代表邓伟财在山证国际证券不知情之下，未获有效书面授权而登入一名客户的证券帐户，并透过互联网为该客户发出945项交易指令。他亦没有就该客户的交易指示备存妥善纪录。

监管要点

邓伟财曾根据《证券及期货条例》获发牌进行第1类（证券交易）及第2类（期货合约交易）受规管活动，且在2015年8月20日至2022年4月30日期间及2016年12月19日至2022年4月30日期间，分别隶属山证国际证券和山证国际期货有限公司。他现时并不隶属任何持牌法团。

Breach

Between 10 July 2019 and 10 December 2019, Mr Tang Wai Choi, a former licensed representative of Shanxi Securities International Limited (SSIL), unbeknownst to SSIL, had logged into a client's securities account and placed 945 orders for the client via the internet without valid written authorisation. He also failed to maintain proper records of the order instructions from the client.

Key Points of Supervision

Tang was licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities) and Type 2 (dealing in futures contracts) regulated activities and was accredited to SSIL between 20 August 2015 and 30 April 2022, and Shanxi Securities International Futures Limited between 19 December 2016 and 30 April 2022. He is currently not accredited to any licensed corporation.

详见：

https://sc.sfc.hk/TuniS/apps.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/enforcement-news/doc?refNo=25PR177

证监会寻求法庭颁令取消中国龙天集团有限公司前董事的资格（2025年10月31日）

SFC seeks court orders to disqualify former directors of China Longevity Group Company Limited (31 October 2025)

违规事项

涉事前董事容许或导致中国龙天集团有限公司（中国龙天，前称思嘉集团有限公司）在财务报表中夸大其现金及现金等价物，令其资产净值因而被夸大，以及未能致使或促使中国龙天及时、准确和完整地披露其时任核数师对被夸大的金额及其他审计违规事项的发现。

监管要点

根据《证券及期货条例》第214条，若法庭裁定某公司的事务曾以涉及对该公司或其成员作出亏空、欺诈、不当行为或其他失当行为的方式处理，而某人须为此负全部或部分责任，则法庭可（其中包括）作出命令，取消该人担任任何法团董事的资格，或饬令该人不得直接或间接参与任何法团的管理，最长为期15年。

Breach

The former directors had allowed or caused China Longevity Group Company Limited (China Longevity) to overstate its cash and cash equivalents, and hence its net assets in its financial statements. They had also failed to cause or procure China Longevity to make timely, accurate and complete disclosure of the discovery of the overstatements and other audit irregularities by the then auditors of China Longevity.

Key Points of Supervision

Under section 214 of the SFO, the court may, amongst other things, make orders to disqualify a person from being a director or being involved, directly or indirectly, in the management of any corporation for a period of up to 15 years, if the person is found to be wholly or partly responsible for the company's affairs having been conducted in a manner involving defalcation, fraud, misfeasance or other misconduct towards the company or its members.

详见：

https://sc.sfc.hk/TuniS/apps.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/enforcement-news/doc?refNo=25PR179

香港交易所在杜拜设立新子公司 拓展大宗商品业务（2025年10月13日）

HKEX Advances Commodities Business with New Dubai Subsidiary (13 October 2025)

香港交易及结算所有限公司（香港交易所）10月13日宣布于阿联酋杜拜设立新子公司Commodity Pricing and Analysis Limited（CPAL）。

CPAL将主要营运大宗商品市场的定价管理服务，并为金属市场提供独立的报价和市场分析，其中包括推动伦敦金属交易所（LME）在今年 4 月宣布的可持续金属溢价业务发展。香港交易所集团将透过新成立的子公司，继续在此重要战略区域内拓展大宗商品业务，促进中国及中东两个增长迅速市场的互联互通。

Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce on 13 October the launch of Commodity Pricing and Analysis Limited (CPAL), a new HKEX subsidiary based in Dubai, the United Arab Emirates.

CPAL will operate as a commodities pricing administrator, providing independent price reporting and market analysis dedicated to the global metals market, including the support of the London Metal Exchange's development of sustainable metal premia that was announced in April 2025. The establishment of this new subsidiary also underscores the Group's ambitions in expanding its commodities business in this strategically important region, helping to drive greater connectivity between China and fast-growing markets in the Middle East.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/News-Release/2025/251013news?sc_lang=zh-CN

香港交易所宣布管理层任命（2025年10月13日）

HKEX Announces Senior Appointments (13 October2025)

香港交易及结算所有限公司（香港交易所）10月13日宣布，委任胡智恒为董事总经理兼交易营运主管。

胡智恒将于2025年10月20日加入香港交易所， 负责领导现货及衍生产品市场的交易营运团队。他将向香港交易所营运主管徐亮汇报。

Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce on 13 October the appointment of Phillip Wu as Managing Director, Head of Trading Operations.

Mr Wu joins HKEX on 20 October 2025 and will be responsible for leading the Trading Operations teams for both the cash and derivatives markets. He will report to Xu Liang, HKEX Head of Operations.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/News-Release/2025/2510132news?sc_lang=zh-CN

香港交易所将推出恒生生物科技指数期货（2025年10月14日）

HKEX to Introduce Hang Seng Biotech Index Futures (14 October2025)

香港交易及结算所有限公司（香港交易所）10月14日宣布计划推出恒生生物科技指数期货，进一步优化其不断拓展的衍生产品生态圈。

Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce 14 October plans to launch Hang Seng Biotech Index Futures, the latest enhancement to its growing derivatives product ecosystem.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/News-Release/2025/251014news?sc_lang=zh-CN

有关首次公开招股申请、除牌和停牌公司之报告（2025年10月）（2025年10月31日）

Report on Initial Public Offering Applications, Delisting and Suspensions (October 2025) (31 October 2025)

本月度报告就报告涵盖期间我们履行监察职责各阶段工作提供关键统计数据。报告期间的资料涵盖（其中包括）已处理之上市申请数目及其现况、向新/潜在新上市申请人及其顾问发出的意见函和指引数目及相应的处理时间、被拒申请及被发回申请的数目，以及除牌和停牌公司数目。

This monthly report provides key statistics relating to the various stages in discharging our regulatory oversight duties during the reporting period. The information for the reporting period covers, among others, the number of applications processed and their current status, the number of comment letters and guidance issued to new/ potential new listing applicants and their advisers with the corresponding processing time, the number of rejection and return of listing applications, as well as the number of delisted and suspended companies.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/Market-Communications/2025/251031news?sc_lang=zh-CN

通告 - 关于富汇国际集团控股有限公司 （于开曼群岛注册成立之有限公司）取消上市地位（2025年10月10日）

Announcement - In relation to the matter of Fullwealth International Group Holdings Limited (Incorporated in the Cayman Islands with limited liability) Cancellation of listing (10 October 2025)

香港联合交易所有限公司（联交所）宣布，由2025年10月15日上午9时起，富汇国际集团控股有限公司（该公司）的上市地位将根据《上市规则》第6.01A(1)条予以取消。

该公司的股份自2024年3月12日起已暂停买卖。根据《上市规则》第6.01A(1)条，若该公司未能于2025年9月11日或之前复牌，联交所可将该公司除牌。

The Stock Exchange of Hong Kong Limited (the Exchange) announced that with effect from 9:00 am on 15 October 2025, the listing of the shares of Fullwealth International Group Holdings Limited (the Company) will be cancelled under Rule 6.01A(1).

Trading in the Company's shares has been suspended since 12 March 2024. Under Rule 6.01A(1), the Exchange may delist the Company if trading does not resume by 11 September 2025.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/Regulatory-Announcements/2025/251010news?sc_lang=zh-CN

通告 - 关于建中建设发展有限公司 （于开曼群岛注册成立之有限公司）（股份代号：589）取消上市地位（2025年10月22日）

Announcement - In relation to the matter of Jianzhong Construction Development Limited (incorporated in the Cayman Islands with limited liability) (Stock Code: 589) Cancellation of listing (22 October 2025）

香港联合交易所有限公司（联交所）宣布，由2025年10月27日上午9时起，建中建设发展有限公司（该公司）的上市地位将根据《上市规则》第6.01A(1)条予以取消。

该公司的股份自2024年4月2日起已暂停买卖。根据《上市规则》第6.01A(1)条，若该公司未能于2025年10月1日或之前复牌，联交所有权将该公司除牌。

The Stock Exchange of Hong Kong Limited (the Exchange) announced that with effect from 9:00 am on 27 October 2025, the listing of the shares of Jianzhong Construction Development Limited (the Company) will be cancelled under Rule 6.01A(1).

Trading in the Company's shares has been suspended since 2 April 2024. Under Rule 6.01A(1), the Exchange has the right to delist the Company if trading does not resume by 1 October 2025.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/Regulatory-Announcements/2025/251022news?sc_lang=zh-CN

通告 - 关于浦江国际集团有限公司 （于开曼群岛注册成立之有限公司） （股份代号：2060）取消上市地位（2025年10月22日）

Announcement - In relation to the matter of Pujiang International Group Limited (Incorporated in the Cayman Islands with limited liability) (Stock Code: 2060) Cancellation of listing (22 October 2025）

香港联合交易所有限公司（联交所）宣布，由2025年10月27日上午9时起，浦江国际集团有限公司（该公司）的上市地位将根据《上市规则》第6.01A(1)条予以取消。

该公司的股份自2024年4月2日起已暂停买卖。根据《上市规则》第6.01A(1)条，若该公司未能于2025年10月1日或之前复牌，联交所可将该公司除牌。

The Stock Exchange of Hong Kong Limited (the Exchange) announced that with effect from 9:00 am on 27 October 2025, the listing of the shares of Pujiang International Group Limited (the Company) will be cancelled under Rule 6.01A(1).

Trading in the Company's shares has been suspended since 2 April 2024. Under Rule 6.01A(1), the Exchange may delist the Company if trading does not resume by 1 October 2025.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/Regulatory-Announcements/2025/2510222news?sc_lang=zh-CN

通告 - 关于诺辉健康（已委任共同临时清盘人） （于开曼群岛注册成立之有限公司） （股份代号：6606）取消上市地位（2025年10月22日）

Announcement - In relation to the matter of New Horizon Health Limited (Joint Provisional Liquidators Appointed) (Incorporated in the Cayman Islands with limited liability) (Stock Code: 6606) Cancellation of listing (22 October 2025）

香港联合交易所有限公司（联交所）宣布，由2025年10月27日上午9时起，诺辉健康（已委任共同临时清盘人）（该公司）的上市地位将根据《上市规则》第6.01A(1)条予以取消。

该公司的股份自2024年3月28日起已暂停买卖。根据《上市规则》第6.01A(1)条，若该公司未能于2025年9月27日或之前复牌，联交所可将该公司除牌。

The Stock Exchange of Hong Kong Limited (the Exchange) announced that with effect from 9:00 am on 27 October 2025, the listing of the shares of New Horizon Health Limited (Joint Provisional Liquidators Appointed) (the Company) will be cancelled under Rule 6.01A(1).

Trading in the Company's shares has been suspended since 28 March 2024. Under Rule 6.01A(1), the Exchange may delist the Company if trading does not resume by 27 September 2025.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/Regulatory-Announcements/2025/2510223news?sc_lang=zh-CN

通告 - 关于SDM教育集团控股有限公司（于开曼群岛注册成立之有限公司）（股份代号：8363）取消上市地位（2025年10月30日）

Announcement - In relation to the matter of SDM Education Group Holdings Limited (incorporated in the Cayman Islands with limited liability) (Stock Code: 8363) Cancellation of listing (30 October 2025）

香港联合交易所有限公司（联交所）宣布，由2025年11月4日上午9时起，SDM教育集团控股有限公司（该公司）的上市地位将根据《GEM规则》第9.14A(1)条予以取消。

该公司的股份自2024年10月2日起已暂停买卖。根据《GEM规则》第9.14A(1)条，若该公司未能于2025年10月1日或之前复牌，联交所可将该公司除牌。

The Stock Exchange of Hong Kong Limited (the Exchange) announced that with effect from 9:00 am on 4 November 2025, the listing of the shares of SDM Education Group Holdings Limited (the Company) will be cancelled under GEM Rule 9.14A(1).

Trading in the Company's shares has been suspended since 2 October 2024. Under GEM Rule 9.14A(1), the Exchange may delist the Company if trading does not resume by 1 October 2025.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/Regulatory-Announcements/2025/251030news?sc_lang=zh-CN

通告 - 关于中国航天万源国际（集团）有限公司（于开曼群岛注册成立之有限公司）（股份代号：1185）取消上市地位（2025年10月30日）

Announcement - In relation to the matter of China Energine International (Holdings) Limited (incorporated in the Cayman Islands with limited liability) (Stock Code: 1185) Cancellation of listing (30 October 2025）

香港联合交易所有限公司（联交所）宣布，由2025年11月4日上午9时起，中国航天万源国际（集团）有限公司（该公司）的上市地位将根据《上市规则》第6.01A(1)条予以取消。

该公司的股份自2024年4月2日起已暂停买卖。根据《上市规则》第6.01A(1)条，若该公司未能于2025年10月1日或之前复牌，联交所有权将该公司除牌。

The Stock Exchange of Hong Kong Limited (the Exchange) announced that with effect from 9:00 am on 4 November 2025, the listing of the shares of China Energine International (Holdings) Limited (the Company) will be cancelled under Rule 6.01A(1).

Trading in the Company's shares has been suspended since 2 April 2024. Under Rule 6.01A(1), the Exchange has the right to delist the Company if trading does not resume by 1 October 2025.

详见：

https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/News/Regulatory-Announcements/2025/2510302news?sc_lang=zh-CN

香港金融管理局与香港科技园公司启动“户口互联创新应用挑战赛“ 促进银行与金融科技公司合作（2025年10月2日）

HKMA and HKSTP launch IADS Developer Hackathon to foster bank–fintech collaboration (2 October 2025）

香港金融管理局（金管局）与香港科技园公司（科技园公司）10月2日宣布启动“户口互联创新应用挑战赛“，并共同举办启动礼，标志着一个为期数月的创新旅程正式开始，透过安全、经客户授权的数据共享，以推动“户口互联”（IADS）的创新发展，促进银行服务的转型。

The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Science and Technology Parks Corporation (HKSTP), announced the launch of the IADS Developer Hackathon and held the Kick-off Ceremony on 2 October, marking the beginning of a multi-month innovation journey to foster innovation for the Interbank Account Data Sharing (IADS) initiative, and transform banking services through secure, customer-consented data sharing.

详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2025/10/20251002-3/

香港最新外汇储备资产数字（2025年10月8日）

Hong Kong's Latest Foreign Currency Reserve Assets Figures Released (8 October 2025)

香港金融管理局（金管局）10月8日公布，香港2025 年9月底的官方外汇储备资产为4,192亿美元（2025年8月底为4,216亿美元）。

连同未交收外汇合约在内，香港于2025年9月底的外汇储备资产为4,189亿美元（2025年8月底为4,211亿美元）。

The Hong Kong Monetary Authority (HKMA) announced on 8 October that the official foreign currency reserve assets of Hong Kong amounted to US$419.2 billion as at the end of September 2025 (end-August 2025: US$421.6 billion).

Including unsettled foreign exchange contracts, the foreign currency reserve assets of Hong Kong at the end of September 2025 amounted to US$418.9 billion (end-August 2025: US$421.1 billion).

详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2025/10/20251008-3/

迪拜金管局与香港金管局合办第二届气候金融会议加强可持续金融领域创新、气候韧性和跨境合作（2025年10月9日）

DFSA and HKMA to co-host second Climate Finance Conference to strengthen sustainable finance through innovation, resilience and cross-border collaboration (9 October 2025)

迪拜金融服务管理局（迪拜金管局）与香港金融管理局（香港金管局）10月9日宣布将于11月26日在阿拉伯联合酋长国（阿联酋）迪拜合办第二届联合气候金融会议（会议）。

作为迪拜金管局与香港金管局支持并促进中东和亚洲地区气候金融合作伙伴关系中的重要举措之一，本届会议将聚焦于“改变未来：绿色金融助力可持续发展”，并将体现迪拜与香港作为两个全球最具活力的金融中心之一的共同承诺──透过创新、气候韧性与跨境合作，塑造全球金融的未来。

The Dubai Financial Services Authority (DFSA) and the Hong Kong Monetary Authority (HKMA) announced on 9 October that the second edition of the DFSA–HKMA Joint Climate Finance Conference will take place on 26 November in Dubai, the United Arab Emirates (UAE).

As the flagship initiative of the DFSA-HKMA partnership to support and enable climate finance in the Middle East and Asia, this year's conference will focus on “Transforming Tomorrow: Harnessing Green Finance for Sustainability” and will reflect the shared commitment of Dubai and Hong Kong – two of the world's most dynamic financial hubs – to shape the future of global finance through innovation, resilience and cross-border collaboration.

详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2025/10/20251009-5/

金管局公布第二期GenA.I.沙盒参与者名单 进一步推动负责任A.I. 应用（2025年10月15日）

HKMA announces second cohort of GenA.I. Sandbox to advance responsible A.I. innovation (15 October 2025)

香港金融管理局（金管局）与香港数码港管理有限公司（数码港）10月15日公布第二期生成式人工智能（GenA.I.）沙盒参与者名单。建基于第一期沙盒的经验，新一期沙盒计划标志着业界从探索A.I.的可能性，迈向推动安全可靠的A.I.应用。

The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), announced today (15 October) the second cohort of the Generative Artificial Intelligence (GenA.I.) Sandbox. Building on the foundation of the first cohort, this coming cohort demonstrates a significant industry shift from experimenting with A.I.'s capability to enabling its secure and reliable implementation.

详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2025/10/20251015-4/

金管局完成“数码港元”先导计划并阐述“数码港元”的未来发展方向（2025年10月28日）

HKMA completes e-HKD Pilot Programme and outlines future direction of e-HKD (28 October 2025)

香港金融管理局（金管局）10月28日发布《“数码港元”先导计划第二阶段报告》（报告），介绍“数码港元”先导计划第二阶段（第二阶段）下11组试验的主要成果与经验。报告亦阐述了金管局就“数码港元”的最新政策立场。

The Hong Kong Monetary Authority (HKMA) on 28 October published the “e-HKD Pilot Programme Phase 2 Report” (the report), which presents the key findings and learnings from 11 groups of industry pilots under Phase 2 of the e-HKD Pilot Programme (Phase 2). The report also sets out the HKMA's latest policy stance regarding the e-HKD.

详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2025/10/20251028-4/

香港金融管理局委任高层人员（2025年10月28日）

Senior Appointment at the Hong Kong Monetary Authority (28 October 2025)

香港金融管理局（金管局）10月28日宣布，财政司司长根据外汇基金咨询委员会辖下管治委员会建议，批准委任吴祥趾先生为外汇基金投资办公室副行政总裁，相等于助理总裁级别。委任于2025年11月1日生效。

作为外汇基金投资办公室副行政总裁，吴先生将负责外汇基金的整体投资管理，并向外汇基金投资办公室行政总裁报告。

The Hong Kong Monetary Authority (HKMA) announced on 28 October that the Financial Secretary, on the advice of the Governance Sub-Committee of the Exchange Fund Advisory Committee, has approved the appointment of Mr Albert Goh as the Deputy Chief Executive Officer (Exchange Fund Investment Office), at the rank of Executive Director, with effect from 1 November 2025. 

As the Deputy Chief Executive Officer (Exchange Fund Investment Office), Mr Goh will be responsible for the overall investment management of the Exchange Fund, and will report to the Chief Executive Officer of the Exchange Fund Investment Office.

详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2025/10/20251028-5/

调整基本利率（2025年10月30日）

Adjustment of Base Rate (30 October 2025)

香港金融管理局（金管局）10月30日宣布，基本利率根据预设公式定于4.25厘，即时生效。

基本利率是用作计算经贴现窗进行回购交易时适用的贴现率的基础利率。目前基本利率定于当前的美国联邦基金利率目标区间的下限加50基点，或隔夜及1个月香港银行同业拆息的5天移动平均数的平均值，以较高者为准。

The Hong Kong Monetary Authority (HKMA) announced 30 October that the Base Rate has been set at 4.25% with immediate effect according to a pre-set formula.

The Base Rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through the Discount Window are computed. The Base Rate is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates (HIBORs), whichever is the higher.

详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2025/10/20251030-3/

金管局与数码港合办GenA.I.研讨会分享GenA.I.沙盒成果（2025年10月31日）

HKMA and Cyberport co-host GenA.I. Symposium to share outcomes of GenA.I. Sandbox (31 October 2025）

香港金融管理局（金管局）与香港数码港管理有限公司（数码港）10月31日联合主办“生成式人工智能（GenA.I.）研讨会”，让首批参与GenA.I.沙盒的银行透过互动展览，分享见解和展示创新用例，促进业界交流合作。

The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), hosted the Generative Artificial Intelligence (GenA.I.) Symposium on 31 October. The event provided a platform for GenA.I. Sandbox participants to share their insights and showcase their GenA.I. innovations through interactive exhibition booths, fostering industry collaboration and knowledge exchange.

详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2025/10/20251031-3/

外汇基金资产负债表摘要及货币发行局帐目（2025年10月31日）

Exchange Fund Abridged Balance Sheet and Currency Board Account (31 October 2025)

香港金融管理局（金管局）10月31日公布，截至2025年9月30日，外汇基金总资产为41,522亿港元，较2025年8月底增加820亿港元，其中港元资产增加972亿港元，外币资产则减少152亿港元。

The Hong Kong Monetary Authority (HKMA) announced on 31 October that the total assets of the Exchange Fund amounted to HK$4,152.2 billion as at 30 September 2025, HK$82.0 billion higher than that at the end of August 2025. Hong Kong dollar assets increased by HK$97.2 billion while foreign currency assets decreased by HK$15.2 billion.

详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2025/10/20251031-4/

2025年9月份货币统计数字（2025年10月31日）

Monetary Statistics for September 2025 (31 October 2025)

香港金融管理局10月31日发表的统计数字显示，认可机构的存款总额在2025年9月份上升1.3%，其中港元存款及外币存款分别上升1.4%及1.3%。由年初截至9月底计，存款总额及港元存款分别上升10.2%及4.1%。香港人民币存款在9月份上升3.5%，于9月底为10,018亿元人民币。跨境贸易结算的人民币汇款总额于9月份为11,232亿元人民币，而8月份为9,969亿元人民币。存款变动受多项因素影响，包括利率走势、市场集资活动等，因此适宜观察较长期趋势，毋须过度解读个别月份的波动。

According to statistics published on 31 October by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.3% in September 2025. Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 1.4% and 1.3% respectively in September. In the year to end-September, total deposits and Hong Kong dollar deposits increased by 10.2% and 4.1% respectively. Renminbi deposits in Hong Kong increased by 3.5% in September to RMB1,001.8 billion at the end of September. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,123.2 billion in September, compared with RMB996.9 billion in August. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.

详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2025/10/20251031-8/

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