Core Insights - The article highlights the journey of Professor Tan Huayao, a prominent figure in the field of fiber optic technology, emphasizing his contributions to both academia and industry over the past 30 years [2][3]. Group 1: Academic and Professional Background - Tan Huayao's academic journey began with a shift from physics to electronic engineering due to better job prospects in the 1980s [4]. - He completed his PhD in fiber optic communication and subsequently worked at GEC-Marconi in London, focusing on fiber optic amplifiers [11]. - In 1993, he returned to Hong Kong to teach at the Hong Kong Polytechnic University, seeking a balance between career and family [4]. Group 2: Innovations in Fiber Optic Technology - Under Tan's leadership, Hong Kong established the world's first city-level fiber optic sensing network in 2014, covering over 90% of the city's railway lines [3][6]. - The technology has been successfully implemented in other countries, including Singapore, the Netherlands, and Australia [3]. - Recently, Tan's team has developed a plastic fiber optic sensor for medical applications, specifically for cochlear implant surgeries, which is currently in clinical trials [3][7]. Group 3: Educational Initiatives and Industry Collaboration - Tan founded the "Engineering and Entrepreneurship Club" in 2017 to provide students with practical experience and foster interdisciplinary collaboration [9][17]. - The club has attracted around 200 students from various disciplines, allowing them to engage in real-world projects and competitions [9][18]. - Tan emphasizes the importance of bridging the gap between academia and industry, advocating for a focus on practical applications of research [10].

Core Points - 港铁公司 announced the appointment of Mr. Li Rizheng as the replacement director for non-executive director Mr. Xu Zhengyu, effective from November 20, 2025 [1] Company Summary - 港铁公司 is undergoing a leadership change with the appointment of Mr. Li Rizheng, who currently serves as the Deputy Secretary for Financial Affairs and Treasury (Treasury) [1] - The replacement is part of the company's governance structure, ensuring continuity in its board composition [1] Industry Context - The appointment reflects ongoing changes within the governance of major companies in the transportation sector, highlighting the importance of experienced leadership in maintaining operational stability [1]

Core Viewpoint - MTR Corporation (00066) announced the appointment of Mr. Li Rizheng as a replacement director by Mr. Xu Zhengyu, the Secretary for Financial Services and the Treasury, effective from November 20, 2025 [1] Group 1 - MTR Corporation is undergoing a change in its board of directors with the appointment of a new non-executive director [1] - The new director, Mr. Li Rizheng, is currently the Deputy Secretary for Financial Services and the Treasury (Treasury) [1] - The appointment reflects the ongoing collaboration between the government and MTR Corporation in governance [1]

Core Viewpoint - The Hong Kong MTR Corporation announced the appointment of a new alternate director, effective November 20, 2025 [1] Group 1 - The new alternate director, Leung Yat-chung, is appointed by the non-executive director, Mr. Xu Zhengyu, who is also the Secretary for Financial Services and the Treasury [1]

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的內容概不負責，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。 MTR CORPORATION LIMITED 香港鐵路有限公司 (｢本公司｣) ( 於香港成立之有限公司 ) (股份代號﹕66) 替任董事之委任 本公司宣布黎日正先生（財經事務及庫務局副秘書長（庫務）2）自2025年11月20日起獲 本公司非執行董事許正宇先生（財經事務及庫務局局長）委任為其替任董事。 本公司宣布黎日正先生（財經事務及庫務局副秘書長（庫務）2）自2025年11月20日起獲本 公司非執行董事許正宇先生（財經事務及庫務局局長）委任為其替任董事。 黎日正先生（50歲）於1998年加入香港特別行政區（「香港特區」）政府任職政務主任。 他曾在多個決策局及部門服務，包括前房屋局、前經濟發展及勞工局、香港駐悉尼經濟貿易 辦事處、房屋署、行政長官辦公室、香港駐日內瓦經濟貿易辦事處及旅遊事務署。黎先生於 出任財經事務及庫務局副秘書長（庫務）2前，曾出任工業貿易署副署長（雙邊貿易、管制 及工商業支援）。 ...

Core Viewpoint - UBS has set a target price of HKD 24 for MTR Corporation (00066) and assigned a "Sell" rating, reflecting concerns over the company's long-term prospects despite a positive short-term reaction to recent bidding results [1] Group 1: Project Details - MTR Corporation announced that the contract for the first phase of the Tuen Mun District 16 station property development project has been awarded to Sun Hung Kai Properties (00016) [1] - The total gross floor area of the project is 601,000 square feet, expected to provide approximately 1,280 residential units [1] - The total investment for the project is HKD 6 billion, translating to a land price of about HKD 9,983 per square foot [1] Group 2: Financial Projections - Assuming the average selling price reaches the current level of similar projects in the area, specifically the Lung Mun project at HKD 12,750 per square foot, the overall development gross margin is estimated to be around 22% [1] - After profit sharing with MTR, the actual development profit margin for Sun Hung Kai Properties is approximately 15% [1] Group 3: Market Comparisons - The estimated overall land cost is about HKD 4,300 per square foot, which is 12% higher than the price paid by Sino Land (00083) for a similar project in August, but still 23% lower than initial estimates [1] - This indicates that the commercial returns from the Tuen Mun South Extension project are lower than initially expected [1] Group 4: Long-term Outlook - UBS anticipates a positive market reaction to the bidding results, but remains cautious about MTR's long-term outlook due to significant capital expenditure requirements and rising interest expenses associated with new railway projects [1] - Additionally, the attractiveness of land reserves outside the Tuen Mun South Line, such as Tung Chung East, Siu O Wan, and North District, is considered low [1]

Core Viewpoint - UBS has set a target price of HKD 24 for MTR Corporation (00066) and assigned a "Sell" rating, reflecting concerns over the company's long-term prospects despite a positive short-term reaction to a recent tender result [1] Group 1: Project Details - MTR Corporation announced that the contract for the first phase of the Tuen Mun Area 16 property development project has been awarded to Sun Hung Kai Properties (00016) [1] - The total gross floor area of the project is 601,000 square feet, expected to provide approximately 1,280 residential units [1] - The total investment for the project is estimated at HKD 6 billion, translating to a land price of about HKD 9,983 per square foot [1] Group 2: Financial Projections - Assuming the average selling price reaches the current level of similar projects in the area, specifically HKD 12,750 per square foot, the overall development gross margin is projected to be around 22% [1] - After profit sharing with MTR, the actual development profit margin for Sun Hung Kai is estimated to be about 15% [1] - The overall land cost is estimated at HKD 4,300 per square foot, which is 12% higher than the price paid by Sino Land (00083) for a similar project in August, but 23% lower than previous estimates [1] Group 3: Market Reaction and Long-term Outlook - UBS anticipates a positive market reaction to the tender results for MTR Corporation's stock [1] - However, the firm remains cautious about the company's long-term outlook due to significant capital expenditure requirements from new railway projects and rising interest expenses [1] - The attractiveness of MTR's land reserves outside the Tuen Mun South Line, such as Tung Chung East, Siu Ho Wan, and North District, is considered low [1]

Core Viewpoint - UBS reports that MTR Corporation's Tuen Mun District 16 Station Phase 1 property development contract has been awarded to Sun Hung Kai Properties, with a total floor area of 601,000 square feet, expected to provide approximately 1,280 residential units [1] Summary by Category Project Details - The total investment for the project is HKD 6 billion, translating to a land price of approximately HKD 9,983 per square foot [1] - If the average selling price reaches the current level of similar projects in the area, specifically at HKD 12,750 per square foot, the overall development gross margin is estimated to be around 22% [1] Financial Implications - After profit sharing with MTR, Sun Hung Kai's actual development profit margin is approximately 15% [1] - UBS anticipates a positive market reaction to MTR's tender results, but maintains a cautious outlook on the company's long-term prospects due to significant capital expenditure requirements from new railway projects and rising interest expenses [1] Target Price and Rating - UBS sets a target price of HKD 24 for MTR Corporation and assigns a "Sell" rating [1]

Group 1 - The announcement states that Mr. Lu Jia-jian will no longer serve as the alternate director for Mr. Xu Zhengyu, the non-executive director of the company, effective from November 6, 2025 [1]

Core Points - 港铁公司 announced that Mr. Lu Jia-jian will no longer serve as a non-executive director starting from November 6, 2025 [1] - Mr. Xu Zheng-yu, the Secretary for Financial Services and the Treasury, will take over as the replacement director [1]