Golden Ten Data on June 18, Daiwa published a research report pointing out that Chow Tai Fook (01929. HK) announced the issuance of convertible bonds (CBs) to raise approximately HK$8.8 billion, with a share repurchase adjusted net equity dilution rate of 3.7% and a coupon rate as low as 0.375%, which is 100 to 200 basis points lower than the Group's existing financing costs, which can effectively reduce its financing costs. The management also mentioned that all the proceeds will be used for the development of the main jewellery business, and promised to maintain a dividend distribution policy of 70% to 80%. Daiwa believes that although Chow Tai Fook has strong free cash flow and does not need to issue bonds, seizing the low-interest long-term financing window this time will help promote its business transformation, and the conversion period is set at three years, and the share buyback and interest savings will drive earnings per share growth in the short term, so it maintains its "buy" rating.

Odaily News AI infrastructure Mira Network announced on the X platform that it has been selected for the CB Insights "2025 AI 100 List." Mira primarily provides developers with tools to help users build more reliable AI-driven applications through a Decentralization verification mechanism.

Odaily News AI infrastructure Mira Network announced its selection in CB Insights' "2025 AI 100 List" on the X platform. Mira primarily aims to provide developers with tools to help users build more reliable AI-driven applications through a Decentralization verification mechanism.