香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 關連交易公告 補充公告 茲提述東北電氣發展股份有限公司（「本公司」「東北電氣」）日期為2025年12月24日的 關連交易公告（「該公告」），內容有關與大連長江廣場有限公司簽訂租賃合同補充協議 之關連交易。除另有界定者外，本公告所用詞彙與該公告所界定者具有相同涵義。本公司 謹此補充以下資料： 繼2021年7月13日發佈須予披露的關連交易租賃協議公告和2022年12月14日發佈關連交易 租賃第一份補充協議公告、2024年1月22日發佈關連交易租賃第二份補充協議公告、2025 年1月17日發佈關連交易租賃第三份補充協議公告後，於2025年12月24日，根據營運需要， 本公司非全資控股子公司海南逸唐飛行酒店管理有限公司（「逸唐飛行酒店」，「承租方」） 與關連方大連長江廣場有限公司（「大連長江廣場」，「出租方」）訂立租賃合同第四份 補充協議（「本補充協議」）。 租賃物業 租賃物業位於中國大連市中山區長江路123號 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 租賃物業位於中國大連市中山區長江路123號，面積為39,365.29平方米。 定價依據 鑒於2025年以來大連地區涉外酒店東北亞境外客源市場表現未達預期且目前尚無明顯好 轉跡象，交易雙方協商將2026年度租金由人民幣750萬元調整為600萬元（約合663萬港元）。 1 關連交易公告 補充公告 茲提述東北電氣發展股份有限公司（「本公司」「東北電氣」）日期為2025年12月24日的 關連交易公告（「該公告」），內容有關與大連長江廣場有限公司簽訂租賃合同補充協議 之關連交易。除另有界定者外，本公告所用詞彙與該公告所界定者具有相同涵義。本公司 謹此補充以下資料： 繼2021年7月13日發佈須予披露的關連交易租賃協議公告和2022年12月14日發佈關連交易 租賃第一份補充協議公告、2024年1月22日發佈關連交易租賃第二份補充協議公告、2025 年1月17日發佈關連交易租賃第三份補充協議公告後，於2025年12月 ...

Core Viewpoint - Huatian Hotel (000428) announced on January 16 that its controlling shareholder, Hunan Tourism Development Investment Group, is planning a merger and restructuring, although the specific plan is not yet determined [2][5] Group 1: Company Overview - Hunan Tourism Group holds a 32.48% stake in Huatian Hotel, making it the controlling shareholder, while the second-largest shareholder, Hunan Huaxin Hengyuan Equity Investment Enterprise, holds 22.72% [4] - Hunan Tourism Group is a large provincial hotel and tourism enterprise established to implement a comprehensive tourism strategy, with a registered capital of 10 billion yuan and over 80 subsidiaries employing more than 10,000 people [4] - Huatian Hotel is the only A-share listed platform under Hunan Tourism Group [4] Group 2: Restructuring and Control Changes - The restructuring may lead to a change in the actual controller of Huatian Hotel from Hunan Provincial State-owned Assets Supervision and Administration Commission to Hunan Provincial Cultural Assets Supervision and Administration Commission [2][5] - Hunan's state-owned asset system has been promoting consolidation, focusing on core responsibilities and accelerating the layout of a modern industrial system [6] - Previous reforms included a series of mergers where 10 provincial state-owned enterprises were consolidated into 5, affecting several listed companies including Huatian Hotel [6] Group 3: Historical Context of Control Changes - Huatian Hotel has experienced multiple changes in its controlling shareholder, with its operations primarily focused on hotel services and ancillary life services [7] - In May 2021, the previous controlling shareholder, Huatian Group, transferred its 32.48% stake to Hunan Xingxiang Investment Holding Group [12] - In November 2021, the stake was again transferred to Hunan Tourism Group, maintaining the actual control under Hunan Provincial State-owned Assets Supervision and Administration Commission [13]

消息上，国家电网"十五五"投资计划出炉："十五五"期间，国家电网公司固定资产投资预计达到4万亿 元，较"十四五"投资增长40%，以扩大有效投资带动新型电力系统产业链供应链高质量发展。 港股电力设备股大幅上涨，其中，东方电气涨超10%领衔，哈尔滨电气涨5.5%，上海电气涨近5%，金 风科技、东北电气纷纷上涨。 国金证券认为，展望2026年，电网行业仍将呈现明显结构性分化，高景气赛道指向国内主网输变电与电 力设备出海两大核心方向，同时关注配网侧和网外侧的拐点向上机会。 | 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 01072 | 东方电气 | 27.320 | 10.25% | | 01133 | 哈尔滨电气 | 18.820 | 5.55% | | 02727 | 上海电气 | 4.610 | 4.77% | | 00968 | 信义光能 | 3.230 | 3.19% | | 02208 | 金风科技 | 14.520 | 2.18% | | 06862 | 福莱特玻璃 | 10.380 | 1.76% | | 03800 | 协鑫科技 | 1.0 ...

Core Insights - The article highlights the top and bottom AH share premium rates, with Northeast Electric (00042) leading at 785.25% and China Merchants Bank (03968) at an undisclosed rate [1][2]. Group 1: Top AH Share Premium Rates - Northeast Electric (00042) has a premium rate of 785.25% with a deviation value of -79.73% [1][2]. - Zhejiang Shibao (01057) follows with a premium rate of 414.81% and a deviation value of 55.09% [1][2]. - Junda Co., Ltd. (02865) ranks third with a premium rate of 306.91% and a deviation value of 91.03% [1][2]. Group 2: Bottom AH Share Premium Rates - China Merchants Bank (03968) has an undisclosed premium rate and a deviation value of 1.92% [2]. - Contemporary Amperex Technology Co., Ltd. (Ningde Times) (03750) shows a premium rate of -13.07% with a deviation value of -2.35% [2]. - Heng Rui Medicine (01276) has a premium rate of -2.62% and a deviation value of -3.51% [2]. Group 3: Deviation Values - Junda Co., Ltd. (02865) leads in deviation value at 91.03% [1][2]. - Goldwind Technology (02208) has a deviation value of 80.58% [1][2]. - Nanjing Panda Electronics (00553) follows with a deviation value of 61.61% [1][2].

Core Insights - The article highlights the top and bottom AH share premium rates as of January 14, with Northeast Electric (00042) leading at a premium rate of 785.25% and Ningde Times (03750) at the bottom with -12.40% [1][2]. Premium Rate Rankings - The top three AH shares by premium rate are: - Northeast Electric (00042) with a premium rate of 785.25% and a deviation value of -83.55% [2]. - Zhejiang Shibao (01057) with a premium rate of 462.65% and a deviation value of 109.56% [2]. - Junda Co., Ltd. (02865) with a premium rate of 315.07% and a deviation value of 103.82% [2]. - The bottom three AH shares by premium rate are: - Ningde Times (03750) with a premium rate of -12.40% and a deviation value of -1.93% [2]. - Heng Rui Medicine (01276) with a premium rate of -3.68% and a deviation value of -4.76% [2]. - China Merchants Bank (03968) with a premium rate of 1.84% and a deviation value of 3.83% [2]. Deviation Value Rankings - The top three AH shares by deviation value are: - Goldwind Technology (02208) with a deviation value of 110.02% [3]. - Zhejiang Shibao (01057) with a deviation value of 109.56% [3]. - Junda Co., Ltd. (02865) with a deviation value of 103.82% [3]. - The bottom three AH shares by deviation value are: - Northeast Electric (00042) with a deviation value of -83.55% [3]. - Morning Paper Industry (01812) with a deviation value of -36.42% [3]. - Nanhua Futures Co., Ltd. (02691) with a deviation value of -26.10% [3].

Core Insights - The article highlights the top and bottom AH premium rates for various stocks, indicating significant discrepancies between H-shares and A-shares [1][2]. Group 1: Top AH Premium Rates - Northeast Electric (00042) leads with a premium rate of 800.00%, followed by Zhejiang Shibao (01057) at 448.68% and Nanjing Panda Electronics (00553) at 279.68% [1]. - The top three stocks with the highest deviation values are Goldwind Technology (02208) at 130.60%, Zhejiang Shibao (01057) at 101.85%, and Nanjing Panda Electronics (00553) at 66.83% [1][2]. Group 2: Bottom AH Premium Rates - The stocks with the lowest AH premium rates include Ningde Times (03750) at -12.21%, China Merchants Bank (03968) at -2.14%, and Hengrui Medicine (01276) at -1.80% [1]. - The bottom three stocks with the highest negative deviation values are Northeast Electric (00042) at -72.14%, Chenming Paper (01812) at -36.62%, and Nanhua Futures (02691) at -22.53% [1][3]. Group 3: Additional Insights on Premium and Deviation - The article provides a detailed table of the top ten and bottom ten AH stocks based on premium rates and deviation values, showcasing the significant differences in market valuation between H-shares and A-shares [1][2][3].

Core Viewpoint - The report highlights the AH premium rates of various stocks, indicating significant discrepancies between their H-shares and A-shares, with some stocks showing extremely high premiums while others exhibit negative premiums. Group 1: Top AH Premium Rates - Northeast Electric (00042) has the highest AH premium rate at 770.97% with a deviation value of -104.86% [1] - Zhejiang Shibao (01057) follows with a premium rate of 432.48% and a deviation value of 91.33% [1] - Nanjing Panda Electronics (00553) ranks third with a premium rate of 288.23% and a deviation value of 78.28% [1] Group 2: Bottom AH Premium Rates - Contemporary Amperex Technology (03750) has the lowest AH premium rate at -12.93% with a deviation value of -2.96% [1] - China Merchants Bank (03968) has a premium rate of -2.18% and a deviation value of -0.26% [1] - Heng Rui Medicine (01276) shows a premium rate of -0.61% with a deviation value of -1.85% [1] Group 3: Top Deviation Values - Zhejiang Shibao (01057) leads in deviation value at 91.33% with a premium rate of 432.48% [2] - Goldwind Technology (02208) has a deviation value of 80.21% with a premium rate of 142.96% [2] - Nanjing Panda Electronics (00553) ranks third in deviation value at 78.28% with a premium rate of 288.23% [2] Group 4: Bottom Deviation Values - Northeast Electric (00042) has the lowest deviation value at -104.86% despite a high premium rate of 770.97% [3] - Morning Paper (01812) shows a deviation value of -45.19% with a premium rate of 201.16% [3] - Nanhua Futures (02691) has a deviation value of -27.51% with a premium rate of 102.69% [3]

Group 1 - The article highlights the top three companies with the highest AH premium rates as Northeast Electric (00042) at 785.25%, Zhejiang Shibao (01057) at 448.59%, and Nanjing Panda Electronics (00553) at 286.79% [1] - The bottom three companies with the lowest AH premium rates are CATL (03750) at -10.95%, China Merchants Bank (03968) at -1.58%, and Heng Rui Medicine (01276) at -0.35% [1] - The article provides a detailed ranking of the top ten and bottom ten AH stocks based on their premium rates and deviation values, indicating significant disparities in market valuations between A-shares and H-shares [1][2] Group 2 - The deviation values for the top three companies are led by Zhejiang Shibao (01057) at 113.76%, Nanjing Panda Electronics (00553) at 79.68%, and Goldwind Technology (02208) at 69.37% [1] - The companies with the lowest deviation values include Northeast Electric (00042) at -93.22%, Chenming Paper (01812) at -28.66%, and CICC (03908) at -22.09% [1][2] - The article notes that the deviation value represents the difference between the current premium rate and the average premium rate over the past 30 days, providing insights into market trends [2]

Group 1 - The article highlights the top three companies with the highest AH premium rates: Northeast Electric (00042) at 785.25%, Zhejiang Shibao (01057) at 433.39%, and Hongye Futures (03678) at 275.07% [1] - The bottom three companies with the lowest AH premium rates are Ningde Times (03750) at -12.17%, Hengrui Medicine (01276) at -1.77%, and China Merchants Bank (03968) at -0.48% [1] - The article also lists the top three companies with the highest deviation values: Zhejiang Shibao (01057) at 104.40%, Goldwind Technology (02208) at 57.76%, and Nanjing Panda Electronics (00553) at 27.70% [1] Group 2 - The companies with the lowest deviation values include Northeast Electric (00042) at -95.85%, Chenming Paper (01812) at -26.90%, and Nanhua Futures (02691) at -19.11% [2] - The top ten AH stocks by premium rate include Sinopec Oilfield Service (01033) at 266.67% and Fudan Zhangjiang (01349) at 242.24% [1] - The bottom ten AH stocks by premium rate include WuXi AppTec (02359) at 4.34% and Weichai Power (02338) at 7.12% [1]