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。 NEW FOCUS AUTO TECH HOLDINGS LIMITED 新焦點汽車技術控股有限公司* （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：360） 須 予 披 露 交 易－ 收購土地使用權 茲提述本公司日期為二零二四年五月十三日及二零二四年十一月二十五日 的公告（「該等公告」），內 容 涉 及 物 業 徵 收。除 另 有 界 定 者 外，本 公 告 所 用 詞 彙 與 該 等 公 告 所 界 定 者 具 有 相 同 涵 義。 紐福克斯科技（上 海）已於二零二五年十二月三十日與上海市青浦區規劃和自 然 資 源 局 就 收 購 事 項 訂 立 土 地 使 用 權 出 讓 合 同。 收購土地使用權 於 二 零 二 五 年 十 二 月 三 十 日，本 公 司 非 全 資 附 屬 公 司 紐 福 克 斯 科 技（上 海 ...

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 會 就 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。 1. 就 業 務 合 作 相 關 條 款 補 充 約 定：中 融 聚 鑫 履 行 原 增 資 協 議 業 務 合 作 相 關 條款項下義務的前提為紐福克斯光電（上 海）以中國上海為生產基地佈局 業 務。其 中 包 括 以 下 兩 項 具 體 承 諾：(i)中融聚鑫依據原增資協議帶來的產 品 訂 單 中，佔 訂 單 總 金 額 至 少50%的對應產品由本集團在上海自行製造生 產；(ii)在 中 融 聚 鑫 業 績 承 諾 對 應 的 年 度，紐 福 克 斯 光 電（上 海）需具備在上 海 自 行 製 造 生 產 產 品 的 能 力。 NEW FOCUS AUTO TECH HOLDINGS LIMITED 新焦點汽車技術控股有限公司* （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：360） 須予披露交易 有關視作出 ...

Core Viewpoint - The competition for global mineral resources between the U.S. and China has intensified, particularly in the South Pacific region, with the Cook Islands emerging as a focal point for deep-sea mining collaboration and geopolitical interests [1][4]. Group 1: U.S. and China's Activities in the Cook Islands - The Chinese research vessel "Dai Yang" recently completed a deep-sea scientific expedition in collaboration with the Cook Islands, highlighting China's ongoing engagement in the region [1]. - The U.S. has also increased its presence, with a research vessel conducting surveys in the same area shortly before China's expedition, indicating a strategic interest in the Cook Islands' mineral resources [1][4]. - The Cook Islands' Prime Minister signed multiple cooperation agreements with China earlier this year, covering areas from deep-sea mining to education, further solidifying ties between the two nations [4]. Group 2: Mineral Resources and Economic Implications - The Cook Islands, consisting of 15 islands, has a surrounding maritime area of approximately 2 million square kilometers, rich in polymetallic nodules containing cobalt, nickel, copper, manganese, and potentially rare earth metals [2]. - Local officials believe that offshore mining rights could provide significant economic benefits, supporting infrastructure such as hospitals and schools [4]. - The competition for these resources has made the Cook Islands a "storm center" in the geopolitical landscape, despite its small population of 15,000 [5]. Group 3: International Relations and Reactions - The U.S. has only recently established diplomatic relations with the Cook Islands, motivated by a desire to counter China's influence in the region [5]. - New Zealand, historically linked to the Cook Islands, has expressed concerns over the lack of transparency in the Cook Islands' agreements with China, criticizing the government for not consulting them on defense and security matters [6]. - The Cook Islands' Prime Minister has defended the agreements with China, asserting that they are aimed at meeting the country's development needs without compromising sovereignty [6].

今年以来，我国保险市场的转型画卷徐徐展开，其中一抹亮色尤为引人注目——分红险。在低利率环境持续、监管引导的 大背景下，曾经一度沉寂的分红险产品强势回归，成为众多险企推动价值增长、满足客户多元化需求的支点。 这一转型不仅是产品形态的简单轮回，更是行业应对新利率环境的底层逻辑。作为市场的重要参与者，阳光人寿保险股份 有限公司（以下简称"阳光人寿"）等险企敏锐把握趋势，精准布局，加大分红险的推动力度，通过独具特色的健康养老增值服 务体系以及穿越周期的稳健投资实力，在这一轮转型浪潮中率先破局，为行业提供了"产品+服务+投资"三位一体的转型范本。 多重因素驱动险企拥抱分红险转型 今年以来，保险公司产品策略出现显著转向，固定收益类保险产品等传统热卖产品热度有所降温，而分红险则异军突起， 成为多家主流险企主推的方向。这一集体转型的背后，是政策、市场、客户及行业自身发展需求共同作用的结果。 从市场利率环境与政策导向看，长期低利率已成为全球性挑战。在此环境下，保险公司固定收益类资产的投资回报率面临 下行压力，传统高预定利率保险产品可能产生利差损风险。金融监管机构持续通过下调预定利率、建立动态调整机制等举措， 引导险企降低负债成 ...

Core Insights - The world economy is shifting from "resource dependence" on energy to "technology dependence," with key technologies determining future development [1] - China's dual carbon action is essential not only for climate change mitigation but also for addressing conventional environmental pollution, enhancing industrial upgrades, and improving economic competitiveness [1] Group 1: China's Renewable Energy Leadership - By the end of 2024, China's renewable energy installed capacity is expected to reach nearly 1.9 billion kilowatts, with energy storage capacity at 70 million kilowatts, leading globally [2] - In the first half of 2025, global renewable energy generation is projected to surpass coal power for the first time, with China contributing 55% of the new capacity [2] - China aims to peak coal and oil consumption during the 14th Five-Year Plan and has submitted its 2035 Nationally Determined Contribution (NDC 3.0), committing to a 7%-10% reduction in greenhouse gas emissions from 2030 to 2035 [2] Group 2: Key Technology Directions for Carbon Neutrality - Achieving carbon neutrality requires support from hundreds of technologies, categorized into four core areas: silicon energy, energy storage, hydrogen energy, and smart technologies [2] - China has established a leading advantage in silicon energy (solar and wind power) but faces challenges in international industrial collaboration [2] - Emerging disruptive technologies such as high-altitude wind energy, nuclear fusion, and carbon dioxide resource utilization could create new market opportunities [2] Group 3: Challenges in Global Carbon Neutrality - The transition to carbon neutrality faces three significant challenges: 1. Technological innovation, with about half of the technologies needed for the 2050 carbon neutrality goal not yet commercialized [3] 2. Supply chain and resource challenges, as demand for critical minerals (like lithium, cobalt, and rare earths) will surge, potentially leading to resource constraints and price volatility [3] 3. Regulatory and mechanism challenges, including new international coordination issues such as green trade barriers [3] Group 4: China's Path and Drivers for Carbon Neutrality - To achieve carbon neutrality, China needs to promote around 300 key technologies, with about half currently in demonstration or laboratory stages, and 70% in the industrial sector [4] - The transition from "energy consumption dual control" to "carbon emission dual control" during the 14th Five-Year Plan is a critical policy driver that will significantly impact local development and industrial layout [4] - The national carbon market is a core lever for balancing technology costs, with future carbon price increases expected to enhance the economic viability of low-carbon technologies [4]

Group 1 - The company *ST Huamei (600360.SH) has not exported any products to EU countries in the past two years [1]

Core Viewpoint - The commercial aerospace sector is experiencing significant activity, with multiple companies showing substantial stock price increases, indicating strong investor interest and confidence in the sector's growth potential [1][2]. Group 1: Stock Performance - Companies such as 超捷股份 (Chaojie Co.) and 航天环宇 (Aerospace Huanyu) have seen stock price increases of 20% and over 10% respectively, reflecting a bullish market sentiment [1][2]. - The stock performance of various companies in the commercial aerospace sector includes: - 超捷股份: Current price 96.78, up 20% with a year-to-date increase of 231.35% [2]. - 航天长峰: Current price 20.34, up 10.01% with a year-to-date increase of 57.92% [2]. - 航天动力: Current price 39.33, up 7.84% with a year-to-date increase of 274.57% [2]. Group 2: Industry Insights - Recent establishment of commercial aerospace companies and the introduction of a three-year development plan highlight the government's commitment to the sector, fostering a comprehensive ecosystem that spans manufacturing, launch operations, and application services [2]. - The investment logic in the A-share commercial aerospace market is driven by the anticipated growth in satellite constellations and the transition from custom satellite manufacturing to mass production [3]. - The development of space computing capabilities is becoming a strategic focus, with plans for gigawatt-level space data centers to enhance computational power beyond terrestrial limitations [3]. Group 3: Sector Analysis - The rocket industry chain is poised for growth due to advancements in reusable rocket technology and increasing launch demands, benefiting upstream material suppliers and precision component manufacturers [5]. - The satellite industry and space computing sectors are expected to thrive as satellite miniaturization and cost reduction drive innovation, creating opportunities for companies involved in satellite development and application services [6]. - The demand for lightweight, high-strength materials in commercial aerospace is rising, with 3D printing technology becoming increasingly relevant, providing business opportunities for companies producing advanced materials [6].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 新焦點汽車技術控股有限公司 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00360 | 說明 | - | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.1 | HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.1 | HKD | | 2,000,000,000 ...

Core Viewpoint - New Focus (00360) announced a capital injection agreement with Zhongrong Juxin, where Zhongrong Juxin will invest RMB 100 million (approximately USD 14 million) for a 10% stake in New Focus Optoelectronics (Shanghai) [1] Group 1: Investment Details - The capital injection will result in New Focus Optoelectronics (Shanghai) being owned approximately 90% by the group and 10% by Zhongrong Juxin after the investment [1] - New Focus Optoelectronics (Shanghai) will remain a subsidiary of the group, and its financial performance will continue to be consolidated into the group's financial statements [1] Group 2: Business Operations - New Focus Optoelectronics (Shanghai) is the operational entity for the group's manufacturing business, primarily engaged in producing and selling automotive electronic products, including inverters, chargers, multifunctional power supplies, and heating and cooling boxes [1] - The investment is expected to bring additional capital for growth and development, with Zhongrong Juxin's business resources potentially providing new collaborative business development opportunities for New Focus Optoelectronics (Shanghai) [1] - The board believes that the partnership with Zhongrong Juxin will enhance the overall business operations and financial performance of the group [1]

Core Viewpoint - New Focus Optical (Shanghai) has entered into a capital increase agreement with Zhongrong Juxin, which will invest RMB 100 million (approximately USD 14 million) for a 10% equity stake, enhancing the company's growth potential and operational support [1] Group 1: Investment Details - The capital injection will result in New Focus Optical (Shanghai) being owned approximately 90% by the group and 10% by Zhongrong Juxin after the investment [1] - The investment is aimed at introducing a new shareholder that will provide additional capital for growth and development [1] Group 2: Company Operations - New Focus Optical (Shanghai) is a wholly-owned subsidiary of the group and serves as the operational entity for the manufacturing business, focusing on automotive electronic products such as inverters, chargers, multifunctional power supplies, and heating and cooling boxes [1] - The financial performance of New Focus Optical (Shanghai) will continue to be consolidated into the group's financial statements [1] Group 3: Strategic Implications - The board believes that Zhongrong Juxin's business resources will create new synergistic business development opportunities for New Focus Optical (Shanghai) [1] - The partnership is expected to provide various business and operational support, thereby improving the overall business operations and financial performance of the group [1]