Core Viewpoint - Vanke A (万科A) announced that its largest shareholder, Shenzhen Metro Group (深铁集团), will provide a loan of up to 2.2 billion yuan to repay the company's bond principal and interest [2]. Group 1: Loan Details - Shenzhen Metro Group has cumulatively provided loans totaling 26.93 billion yuan to Vanke A, excluding the current loan [6]. - Since the annual shareholders' meeting on June 27, 2025, Shenzhen Metro Group has provided various loans, including: - New loans of 6.249 billion yuan - Loan extensions of 890 million yuan - New loans of 869 million yuan with asset pledges - New loans of 1.189 billion yuan (with a board-approved limit of 1.681 billion yuan) - New loans of 2.064 billion yuan - New loans of 989 million yuan - Pledged Vanke Cloud equity as collateral for existing loans of 1.551 billion yuan [6][7]. Group 2: Financial Performance - For the first three quarters of 2025, Vanke A reported a total revenue of 161.39 billion yuan, a year-on-year decrease of 26.61% [7]. - The net profit for the same period showed a loss of 28.02 billion yuan [7]. - In the third quarter alone, the company recorded a revenue of 56.07 billion yuan, down 27.30% year-on-year, with a net loss attributable to shareholders of 16.07 billion yuan, indicating a continued decline in performance [7]. Group 3: Shareholding Structure - As of the end of the reporting period (third quarter), Central Huijin Investment held approximately 185 million shares of Vanke A, remaining unchanged [7]. - The largest shareholders include: - Shenzhen Metro Group: 3,242,810,791 shares - HKSCC Nominees Limited: 2,206,364,182 shares - Central Huijin Asset Management: 185,478,200 shares [8].

Core Viewpoint - Vanke A (万科A) announced that its largest shareholder, Shenzhen Metro Group (深铁集团), will provide a loan of up to 2.2 billion yuan to repay the company's bond principal and interest [1] Group 1: Loan Details - Shenzhen Metro Group has cumulatively provided loans totaling 26.93 billion yuan to Vanke A, excluding the current loan [4] - Since the annual general meeting on June 27, 2025, Shenzhen Metro Group has provided several loans, including: - New loans of 6.249 billion yuan - Loan extensions of 890 million yuan - New loans of 869 million yuan with asset collateral - New loans of 1.189 billion yuan (with a board-approved limit of 1.681 billion yuan) - New loans of 2.064 billion yuan - New loans of 989 million yuan - Pledged equity of 1.551 billion yuan as collateral for existing loans [4] Group 2: Financial Performance - For the first three quarters of 2025, Vanke A reported a total revenue of 161.39 billion yuan, a year-on-year decrease of 26.61% [5] - The net profit for the same period was a loss of 28.02 billion yuan [5] - In the third quarter alone, the company recorded a revenue of 56.07 billion yuan, down 27.30% year-on-year, with a net loss attributable to shareholders of 16.07 billion yuan [5] Group 3: Shareholding Structure - As of the end of the reporting period (third quarter), Central Huijin still holds approximately 185 million shares of Vanke A, remaining unchanged [6] - The top 10 unrestricted shareholders include: - Shenzhen Metro Group: 3.243 billion shares - HKSCC Nominees Limited: 2.206 billion shares - Central Huijin Asset Management: 185 million shares [7]

1. 2025 年季度簡報 （ 1月 至9 月 ） 中電控股（中電或本 公 司 ） 2025 年季度簡報（ 1 月 至 9 月）（中、英文版本）現已登載 於 本公司網站 （ www.clpgroup.com ） 「投資者關係」欄目的「財務報告」；及香港聯合交易所有限公司（聯交所）網站 （www.hkexnews.hk）。 2. 發布公司通訊2 之新安排 中電控股有限公司 CLP Holdings Limited (股份代號 Stock Code: 00002) 香港九龍啟德承啟道43號中電總部 CLP Headquarters, 43 Shing Kai Road Kai Tak, Kowloon, Hong Kong 電話 Tel (852) 2678 8111 傳真 Fax (852) 2760 4448 網址 Website www.clpgroup.com 2025年10月31日 中電將以電子方式發 布 公司通訊 ， 公司通訊只會 在 閣下要求 時 ，以印刷 本 發 送 。 閣 下可於中電網站 （ www.clpgroup.com ） 「投資者關係」欄目的「財務報告」 或 「公告及通函」，或聯交所網站 ...

2025年10月31日 親愛的股東： 1. 2025 年季度簡報 （ 1月 至9 月 ） 中電控股有限公司 CLP Holdings Limited (股份代號 Stock Code: 00002) 香港九龍啟德承啟道43號中電總部 CLP Headquarters, 43 Shing Kai Road Kai Tak, Kowloon, Hong Kong 電話 Tel (852) 2678 8111 傳真 Fax (852) 2760 4448 網址 Website www.clpgroup.com 中電控股（中電或本公司 ） 2025 年季度簡報 （ 1 月 至 9 月 ） （中、英文版本）現已登載 於 本公司網站 （ www.clpgroup.com ） 「投資者關係」欄目的「財務報告」；及香港聯合交易所有限公司（聯交所）網站 （www.hkexnews.hk）。 2. 發布公司通訊1 之新安排 中 電 將 以 電子方式 發 布 公司通訊 ， 公司通訊只會 在 股東要求 時 ，以印刷 本 發 送 。 閣下可於中電網站 （ www.clpgroup.com ） 「投資者關係」欄目的「財務報告」 或 「 ...

Core Insights - The Hu Run Research Institute released the "2025 Hu Run Rich List," highlighting the wealth and ranking changes of various families and individuals in Hong Kong and beyond [1][2]. Company Overview - The Michael Kadoorie family, with a wealth of 445 billion RMB, ranks 126th on the list, showing a wealth increase of 1 billion RMB, or 2%, but a drop of 36 places in ranking [1][2]. - The family's core asset, CLP Holdings Limited, is the largest electricity supplier in Hong Kong, providing stable financial support for the family's wealth [1][2]. Financial Performance - CLP Holdings reported a revenue of 90.964 billion HKD, reflecting a year-on-year growth of 4.35%, and a net profit attributable to the parent company of 11.742 billion HKD, which is a significant increase of 76.44% [2][3]. Industry Position - CLP Holdings has been a key player in the Chinese energy market since the late 1970s, investing in various energy sectors including nuclear, wind, solar, hydro, and coal-fired power generation [3]. - The company has invested approximately 50 billion HKD in mainland China, becoming one of the largest foreign investors in the energy sector, with over 50 power generation projects across 15 provinces [3]. Family Legacy - Michael Kadoorie has been involved in family business management since 1964 and has held leadership positions in CLP Holdings and the Hong Kong Shanghai Hotels Group [3]. - The fourth generation of the Kadoorie family is gradually taking over, with Michael Kadoorie's son, Philip Kadoorie, stepping into significant roles within the company [3].

Core Insights - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, indicating strong financial performance [1] Financial Performance - Revenue for the first three quarters reached 899 million yuan, representing a year-on-year growth of 331.66% [1] - The net profit attributable to shareholders was 145 million yuan, showing a remarkable year-on-year increase of 2791.57% [1] - The non-recurring net profit amounted to 132 million yuan, reflecting a year-on-year growth of 1305.95% [1] - Basic earnings per share were reported at 0.1434 yuan [1]

Market Performance - The market is experiencing rapid style switching, with coal stocks performing strongly, including Dayou Energy hitting a limit up for the eighth consecutive day, and stocks like Shanxi Black Cat and Yunmei Energy also reaching limit up [2] - Shenzhen local stocks collectively rose, with companies such as Jian Ke Yuan, Shen Saige, and Shen Property A hitting limit up [4] - The oil, port, and natural gas sectors also showed active performance, with Qin Port shares reaching limit up, while computing hardware stocks collectively declined, with Tianfu Communication dropping over 7% [2] Shenzhen State-Owned Enterprise Reform - Multiple stocks in the Shenzhen state-owned enterprise reform sector reached limit up, indicating strong market interest in this area [3] Mergers and Acquisitions Action Plan - Shenzhen has issued an action plan for promoting high-quality development of mergers and acquisitions from 2025 to 2027, aiming for a total market capitalization of domestic and foreign listed companies to exceed 20 trillion yuan by the end of 2027, and to cultivate 20 companies with a market value of over 100 billion yuan [7] - The plan includes ten key tasks focusing on mergers and acquisitions in strategic emerging industries such as integrated circuits, artificial intelligence, new energy, and biomedicine, encouraging leading companies to acquire quality assets to enhance their technological capabilities [7] Short Drama and Gaming Sector - The short drama and gaming sectors saw significant gains, with Hai Kan shares hitting limit up by 20%, and other companies like Rongxin Culture and Xingfu Lanhai also experiencing substantial increases [9][10] - The National Press and Publication Administration announced the approval of 159 domestic games and 7 imported games in October, maintaining a high issuance level, second only to August's 173 games [10] Cloud Computing and AI Market Outlook - Huachuang Securities expressed optimism about the year being a breakthrough year for China's open-source large models and the reshaping of application patterns, highlighting the importance of public cloud value reconstruction and the return to growth of related industries [11]

Core Viewpoint - The company, Shen Shen Fang A, announced that its controlling shareholder, Shenzhen Investment Holdings Co., Ltd., plans to reduce its stake in the company by up to 10.1166 million shares, representing no more than 1% of the total share capital, within a three-month period starting from November 11, 2025, to February 10, 2026 [1] Summary by Relevant Sections - Shareholder Reduction Plan - Shenzhen Investment Holdings Co., Ltd. intends to reduce its holdings in Shen Shen Fang A through centralized bidding [1] - The reduction will occur within a specified timeframe of three months [1] - The total number of shares to be reduced is capped at 10.1166 million [1]

Core Points - The company, China Electric Power (00002), announced that it will distribute the third interim dividend of HKD 0.63 per share on December 15, 2025 [1] Group 1 - The third interim dividend is set at HKD 0.63 per share [1]

Core Viewpoint - China Electric Power Holdings (00002) announced that it will distribute the third interim dividend of HKD 0.63 per share on December 15, 2025 [1] Summary by Category - **Dividend Announcement** - The company will pay an interim dividend of HKD 0.63 per share [1]