Investment Rating - The report assigns a "Buy" rating for Shenzhen International (00152) [2] Core Views - Shenzhen International is controlled by the Shenzhen State-owned Assets Supervision and Administration Commission and holds quality assets in the Greater Bay Area [8] - The logistics business serves as a solid foundation, with REITs spin-offs and logistics park upgrades opening up profit elasticity [8] - The toll road and port businesses provide stable profit contributions, with a central profit contribution of approximately HKD 1.1 billion [18] Summary by Relevant Sections 1. Control and Asset Management - Shenzhen International is a state-owned enterprise under the Shenzhen State-owned Assets Supervision and Administration Commission, focusing on urban support development and operations [13][14] 2. Logistics Business Development - The logistics business is centered around logistics parks, with an operational area of 6.71 million square meters as of H1 2025, and a compound annual growth rate of 24.07% from 2014 to 2024 [23][24] - The company has completed the REITs spin-off for five projects, contributing a total of HKD 14.2 billion to net profit as of H1 2025 [8][38] - The logistics park projects are expected to generate significant land appreciation and development profits, with projected after-tax returns of HKD 136.5 billion from the South China logistics park project [60][62] 3. Toll Road and Port Business - The toll road and port operations are managed by subsidiaries, contributing a stable profit base with a net profit of HKD 4.9 billion in H1 2025 [65] - The company holds approximately 47.3% equity in Shenzhen Expressway, which operates 16 toll road projects with a total toll mileage of 613 kilometers [66] 4. Financial Projections - The company is expected to achieve revenues of HKD 17.06 billion, HKD 17.61 billion, and HKD 18.75 billion for the years 2025, 2026, and 2027 respectively, with corresponding net profits of HKD 3.17 billion, HKD 3.47 billion, and HKD 3.53 billion [6][8]

Core Viewpoint - Shenzhen International (00152.HK) has completed the issuance of the first phase of medium-term notes for 2026, amounting to RMB 1 billion with a coupon rate of 1.81% and a maturity period of 3 years [1]. Group 1 - The company issued medium-term notes totaling RMB 1 billion [1] - The coupon rate for the issued notes is set at 1.81% [1] - The maturity period for these notes is 3 years, ending on January 13, 2026 [1]

Core Viewpoint - Shenzhen International (00152) has successfully issued a medium-term note amounting to RMB 1 billion with a coupon rate of 1.81% and a maturity period of 3 years [1]. Group 1 - The company completed the issuance of the first phase of medium-term notes for the year 2026 on January 13, 2026 [1]. - The total amount raised through this issuance is RMB 1 billion [1]. - The coupon rate set for the medium-term notes is 1.81% [1].

Group 1 - The company Shenzhen International (00152) announced the completion of the issuance of the first phase of medium-term notes for 2026, amounting to RMB 1 billion [1] - The coupon rate for the issued notes is set at 1.81% [1] - The maturity period for these notes is 3 years, ending in 2026 [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份內容 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。 （於百慕達註冊成立之有限公司） （股份代號：00152） 自願性公告 完成發行2026年中期票據（第一期） 茲提述本公司日期為2024年10月18日及2024年10月24日的公告（「該等公 告」），內容分别有關（其中包括）本公司獲中國銀行間市場交易商協會 批准註冊總金額不超過人民幣100億元的多品種債務融資工具及發行2024年 中期票據（第一期），發行金額人民幣40億元。除另有界定外，本公告所 用詞彙與該等公告所用者具有相同涵義。 本公司董事會欣然宣佈，本公司於2026年1月13日完成發行金額為人民幣10 億元的2026年度第一期中期票據（「2026年中期票據（第一期）」），票 面利率為1.81%，年期為3年。 2026年中期票據（第一期）發行情況的有關文件已分別刊發於中國貨幣網 (www.chinamoney.com.cn)和上海清算所網站(www.shclearing.com.cn)。 2026 年 ...

Group 1 - The 2026 Shanghai International Liquid Cooling Industry Exhibition will take place from December 9-11, 2026, at the Shanghai New International Expo Center [3] - The 2026 China (Shenzhen) International Liquid Cooling Industry Technology Exhibition is scheduled for June 10-12, 2026, at the Shenzhen International Convention and Exhibition Center [3] - The 2026 Suzhou Exhibition will occur from September 16-18, 2026, at the Suzhou International Expo Center [5] Group 2 - The rapid growth of big data has increased the demands on data center servers, necessitating higher power density in server cabinets [14] - Liquid cooling technology is becoming essential for data center efficiency, especially with the rise of 5G, edge computing, and AI applications [14][18] - The exhibitions aim to showcase the latest products and technologies in the liquid cooling industry, attracting professional audiences from data centers, power, electronics, edge computing, AI, and renewable energy sectors [14] Group 3 - The 2026 IDC exhibition is expected to cover an area of 15,000 square meters and will feature participation from major organizations such as the National Supercomputing Center in Shenzhen and Tencent [18] - Various technical exchange activities will be held during the IDC 2026 exhibition, focusing on industry hot topics and promoting diversified marketing strategies [19] - The exhibition will include a wide range of products covering cooling liquids, refrigerants, and various cooling devices, showcasing over a thousand new products across the entire industry chain [56] Group 4 - Shenzhen Angpai Technology Co., Ltd. is currently in the A-share IPO guidance stage, with plans to expand production capacity and R&D investment to capture market growth in liquid cooling [66] - The company has a registered capital of 90 million RMB and aims to leverage its professional R&D team and partnerships with universities to enhance its technological capabilities [66][68] - Angpai Technology's product offerings include liquid cooling module design, thermal management system integration, and innovative compressor technologies, with a focus on high reliability and efficiency [71][72]

( 於百慕達註冊成立之有限公司 ) (股份代號：00152) 須予披露的交易 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份代號：00548) 自願性公告 聯合公告 深高速認購兩項結構性存款產品 認購兩項結構性存款產品 深 圳 國 際 及 深 高 速 (深圳國際擁有約 47.30%權 益 的 附 屬 公 司 )各自的 董事會宣佈，深高速於 2026 年 1 月 9 日認購了本金為人民幣 5 億元 的結構性存款產品(第一期)，並於 2026 年 1 月 12 日進一步認購了本 金為人民幣 5 億元的結構性存款產品(第二期)。 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聯合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，概不對因本聯合公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 - 1 - 認購兩項結構性存款產品 深圳國際及深高速各自的董事會宣佈，深高速於 2026 年 1 月 9 日認購 了本金為人民幣 5 億元的結構性存款產品(第一期)，並於 2026 年 1 月 12 日進一步認購了本金為人民幣 5 億元的結構性存款產品(第二期)。 兩 ...

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聯合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，概不對因本聯合公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 ( 於百慕達註冊成立之有限公司 ) (股份代號：00152) 須予披露的交易 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份代號：00548) 自願性公告 聯合公告 深高速認購兩項結構性存款產品 認購兩項結構性存款產品 深 圳 國 際 及 深 高 速 (深圳國際擁有約 47.30%權 益 的 附 屬 公 司 )各自的 董事會宣佈，深高速於 2026 年 1 月 9 日認購了本金為人民幣 5 億元 的結構性存款產品(第一期)，並於 2026 年 1 月 12 日進一步認購了本 金為人民幣 5 億元的結構性存款產品(第二期)。 上市規則涵義 由 於 深 高 速 認 購 的 兩 項 結 構 性 存 款 產 品 均 由 同 一 家 銀 行 發 行 且 於 12 個月內完成，故此，根據上市規則第 14.22 條及 14.23(1)條，認購兩 項結構性存款產品的交易須合併計算。 對於深高速而言，認購 ...

Core Insights - The Shenzhen International Ship Registration Service Center was established in Qianhai, Shenzhen, marking a significant development in the region's maritime economy [1][2] - The center has registered 20 vessels with a total tonnage of 580,000 tons, valued at 5.8 billion yuan, positioning its fleet among the top three in the country [1] - The center aims to provide integrated registration services for both international and domestic vessels, enhancing efficiency with services like "one-hour certification" [1] Group 1 - The center fills a gap in quality assurance for international vessels and offshore facility registration in Shenzhen [2] - It serves as a high-level platform to support urban development strategies and attract global resources [2] - The center will offer comprehensive services including consultation, dedicated follow-up, customized solutions, and document pre-review to reduce transaction costs and improve financing efficiency [1]

Group 1 - Shanghai's first land auction of 2026 raised 4.57 billion yuan, with Yuexiu Property acquiring a plot in Pudong New District for 2.561 billion yuan [2] - The first residential land from the Shanghai Zhaojialou urban village renovation project was sold for 664 million yuan [3] - Beijing's Fengtai District plans to supply 10 plots in 2026, focusing on urban village and shantytown redevelopment projects [4] Group 2 - Guangzhou's Panyu District has approved a land reserve plan for 157 hectares aimed at creating a central innovation zone in the Bay Area [5] - China State Construction International won a residential land plot in Guangzhou's Baiyun District for 315 million yuan, with a floor price of 4,642 yuan per square meter [6] - Shenzhen's Shen International and Qianhai Construction Investment won a logistics land plot of nearly 60,000 square meters [7] Group 3 - A consortium of Sino Land and Eagle Group won a residential plot in Hong Kong's Jordan Valley for 1.61 billion HKD, with a floor price of 4,339 HKD per square foot [9] - Fuzhou's first land auction of 2026 is scheduled for January 21, with two commercial and residential plots starting at 204.5 million yuan [10] - Jiangsu Yixing's first land auction of 2026 raised 1.305 billion yuan from three residential plots, with the highest floor price at 6,648 yuan per square meter [11] Group 4 - Qingdao is offering a mixed-use land plot with a starting price of 441 million yuan and a floor price of 10,230 yuan per square meter [12] - Nantong Qidong is auctioning three residential plots with a total starting price of 1.86 billion yuan [13] - Wenzhou's Rui'an is set to auction a residential plot with a starting price of 276 million yuan [14] Group 5 - Taizhou Yuanhe Real Estate acquired a commercial and residential plot in Jinhua for 480 million yuan, with a premium rate of 32.25% [15] - Oriental Asset Management won three plots in Kunming's Songming vocational education new city, totaling 2.9 million yuan [16] - Benchmark Global Group acquired the original Aeon Mall site in Foshan Nanhai District to develop an international racing circuit [17] - Zhongnan Industry won a residential plot in Wenzhou's Longwan District for 403 million yuan, with a floor price of 12,582 yuan per square meter [18]