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。 （於香港註冊成立之有限公司） （股份代號：392） 承董事會命 北京控股有限公司 主席 楊治昌 香港，2025 年 12 月 12 日 於本公告日期，本公司董事會由：五名執行董事楊治昌先生（主席）、熊斌先生（行政總裁）、 許彤先生、耿超先生及董渙樟先生；兩名非執行董事余烯鍵先生及蘇俊杰先生；四名獨立非執行 董事武捷思先生、林海涵先生、楊孫西博士及陳曼琪女士組成。 海外監管公告 北京控股有限公司附屬公司福建省燕京惠泉啤酒股份有限公司 董事離任及調整董事會審計委員會委員的公告 本海外監管公告乃由北京控股有限公司（「本公司」）根據香港聯合交易所有限公司證 券上市規則第 13.10B 條刊登。 本公司的附屬公司福建省燕京惠泉啤酒股份有限公司已於 2025 年 12 月 12 日於上海證券 交易所網站（http://www.sse.com.cn）上載關於董事離任及調整董事會審計委員會委員的 公告，相關網址如下： ...

证券之星消息，12月8日南向资金增持85.0万股北京控股（00392.HK）。近5个交易日中，获南向资金增 持的有5天，累计净增持224.75万股。近20个交易日中，获南向资金增持的有16天，累计净增持316.95万 股。截至目前，南向资金持有北京控股（00392.HK）2.63亿股，占公司已发行普通股的20.88%。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 北京控股有限公司是一家主要从事燃气业务的投资控股公司。该公司通过五个分部运营业务。燃气业务 分部分销及销售管道天然气及燃气相关设备等。该分部还生产并销售石油及天然气。水务业务分部建造 污水及自来水处理厂及其他基础设施、供水以及提供咨询服务。环境业务分部提供废物焚烧厂建设及废 物处理服务，销售自废物焚烧产生的电力、蒸汽及热能。啤酒业务分部生产、分销及销售啤酒产品。其 他业务分部提供顾问服务、从事物业投资及企业收支项目业务。 | 交易日 | 持股总数 (股) | 持股变动(股) | 变动幅度 | | --- | --- | --- | --- | | 2025-12-08 ...

新京报讯（记者曹晶瑞）"非遗冰雪季 精彩马上到"京津冀非遗系列活动启动仪式近日在延庆奥林匹克 园区冬奥村举行，吸引了100余名京津冀三地非遗传承人、高校大学生、园区游客参与。 据北控集团相关负责人介绍，本次活动旨在以非遗焕新为切入点，以2025年冬季冰雪旅游为契机，联动 京津冀三地非遗资源，发挥北京"双奥之城"与京张体育文化旅游带优势，围绕冰雪经济、非遗创新与文 旅消费等重点方向深化合作，共同推进冬奥遗产的可持续利用与创新提升，打造具有北京特色的冰雪文 旅融合品牌，助力北京国际消费中心城市建设。 以北控集团旗下延庆奥林匹克园区为例，2025-2026雪季，园区延长了初级雪道有效滑行距离，扩容大 众体验区面积，有序开放13条专业雪道，全面兼顾大众滑雪体验与专业训练需求。同时，将承办覆盖职 业竞技、青少年培养、群众参与多层次的14项国际国内高水平赛事，同时为50余支国家集训队、省级运 动队提供体能训练、技术分析、康复理疗等全链条标准化驻训保障。在消费体验方面，持续推进智慧雪 场建设，完成智能储物系统迭代与全流程自助票务平台升级，分时段推出形式丰富的特色庆典活动与多 款高性价比阶梯式住滑套餐。运动零售、餐饮、装备等 ...

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: | 北京控股有限公司 | | | 呈交日期: | 2025年12月1日 | | | I. 法定/註冊股本變動 | 不適用 | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 00392 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,258,003,268 | | 0 | | 1,258,003,268 | | 增加 / 減少 (-) | | | 0 | ...

Core Viewpoint - Beijing Enterprises Holdings Limited has been awarded the Outstanding Enterprise Award at the Fourth Forum on Sustainable Development Officers of Listed Companies, highlighting its commitment to sustainable urban development and the integration of traditional and emerging green industries [1][4]. Group 1: Redefining Comprehensive Public Utilities - The company has strategically redefined the concept of "comprehensive public utilities" to transition from a traditional infrastructure operator to a modern urban service provider characterized by green, technology, and collaboration [4]. - This strategic transformation aims to position the company as a core enabler of urban sustainable development [4]. Group 2: Dimensions of Value Reconstruction - The redefinition is reflected in three dimensions: 1. Value orientation reconstruction, elevating "environmental value" creation to a strategic level, shifting focus from passive compliance to proactive ecological capacity creation [5]. 2. Business model synergy, breaking down barriers between traditional sectors like gas, water, and solid waste, and integrating service chains to reduce overall carbon emissions and operational costs [5]. 3. Technological development as a driving force, promoting the integration of cutting-edge technologies like big data and AI with traditional infrastructure to innovate in product design, production processes, and operational management [5]. Group 3: Growth Engines - Future growth is seen as a dual-driven model, relying on both the green upgrade of traditional businesses and the exploration of emerging green industries [6]. - Traditional business upgrades serve as a "ballast" and "stabilizer," with significant investments in technology and innovation, such as nearly a thousand patents in gas safety technology and low-carbon processes in water management [6]. - The exploration of emerging green industries is viewed as a "new engine" for growth, with initiatives like the hydrogen supply system and the establishment of technology companies to drive innovation and service upgrades [7]. Group 4: Barriers to Systematic Green Innovation - The primary barrier to systematic green innovation is structural and systemic, involving the integration of existing infrastructure and traditional business models with new green technologies and concepts [8]. - Challenges also include the productization of technology and the realization of value from green innovations, as the market mechanisms currently do not adequately reward the ecological value created [8]. Group 5: Role in Low-Carbon Transition - As a key urban service provider, the company plays a critical role in the low-carbon transition, transforming urban systems from linear resource consumption to circular resource regeneration [10]. - In the energy sector, the company has supplied 517.9 billion cubic meters of natural gas, saving over 680 million tons of standard coal, while also investing in hydrogen, geothermal, and solar energy [10]. - In water management, wastewater treatment facilities are being transformed into "second water sources" and "energy factories," contributing directly to carbon reduction [10]. - In solid waste management, the company is shifting from incineration and landfilling to resource utilization, converting waste into energy and other resources [10].

11月27日，上交所发布关于北京控股集团有限公司2025年面向专业投资者公开发行科技创新公司债券 （第三期）（品种一）上市的公告。 依据《上海证券交易所公司债券上市规则》等规定，上交所同意北京控股集团有限公司2025年面向专业 投资者公开发行科技创新公司债券（第三期）（品种一）于2025年11月28日起在上交所上市，并采取匹 配成交、点击成交、询价成交、竞买成交、协商成交交易方式。该债券证券简称为"25北控K5"，证券 代码为"244289"。根据中国结算规则，可参与质押式回购。 来源：市场资讯 ...

依据《上海证券交易所公司债券上市规则》等规定，上交所同意北京控股集团有限公司2025年面向专业 投资者公开发行科技创新公司债券（第三期）（品种二）于2025年11月28日起在上交所上市，并采取匹 配成交、点击成交、询价成交、竞买成交、协商成交交易方式。该债券证券简称为"25北控K6"，证券 代码为"244290"。根据中国结算规则，可参与质押式回购。 来源：市场资讯 11月27日，上交所发布关于北京控股集团有限公司2025年面向专业投资者公开发行科技创新公司债券 （第三期）（品种二）上市的公告。 ...

Group 1 - The core point of the article highlights that southbound funds have increased their holdings in Beijing Holdings (00392.HK) by 142,500 shares on November 26, 2025, marking a total net increase of 190,500 shares over the last five trading days and 1,125,000 shares over the last twenty trading days [1][2] - As of now, southbound funds hold 260 million shares of Beijing Holdings, accounting for 20.69% of the company's total issued ordinary shares [1][2] Group 2 - The trading data shows that on November 25, 2025, there was an increase of 54,500 shares (0.02%), and on November 24, 2025, an increase of 26,000 shares (0.01%) [2] - The company operates primarily in the gas business through five segments, including gas distribution and sales, water services, environmental services, beer production, and other consulting and investment services [2]

Core Insights - Insurance capital continues to increase its allocation to equity assets, with the proportion of equity assets reaching near historical highs in Q3 2025 [1] - The allocation structure shows a significant increase in technology and a reduction in high-end manufacturing sectors [5][6] - Insurance capital has accelerated its stake acquisitions in listed companies, particularly in Hong Kong stocks, with a notable increase in the number of acquisitions compared to previous years [9] Allocation Trends - In Q3 2025, the allocation of insurance capital to various asset classes is as follows: bank deposits (7.9%), bonds (50.3%), stocks (10.0%), funds (5.5%), long-term equity investments (7.9%), and other assets (18.4%) [1] - The investment proportions in bank deposits and bonds decreased by 0.7 percentage points and 0.8 percentage points, respectively, while the investment in stocks and funds surged to 15.5%, approaching the historical peak of 16.1% in H1 2015 [1] Sector and Stock Preferences - Insurance capital has significantly increased its allocation to banks, steel, and textile sectors, while reducing holdings in high-end manufacturing sectors such as new energy and military [5] - Key stocks that saw increased investment include Agricultural Bank of China, Postal Savings Bank, Industrial and Commercial Bank of China, and Hikvision, while reductions were noted in stocks like Goldwind Technology and Aviation Industry Corporation of China [6][8] Shareholding Activities - In 2025, insurance capital has made 30 stake acquisitions in listed companies, surpassing the total for the entire years of 2020 and 2024, with 25 of these acquisitions in Hong Kong stocks [9] - The trend indicates a shift towards acquiring dividend-yielding assets in Hong Kong due to declining bond yields and rising traditional dividend assets [9]

Major Events - Hong Kong Stock Exchange (00388) plans to make a strategic investment in Xunqing Settlement Holdings Limited [1] - Lai Kai Pharmaceutical-B (02105) signs an exclusive licensing agreement with Qilu Pharmaceutical for LAE 002 (AFURESERTIB) in China [1] - TECHSTARACQ-Z (07855) is expected to inherit the company Tuda Tong's listing on the main board of the Stock Exchange on December 10 [1] - Superstar Legend (06683) intends to establish a joint venture with Yushu Technology to develop consumer-grade IP robots and IP derivative products [1] - Beijing Enterprises Holdings (00392) plans to acquire 100% equity of Beijing Beiran Special Equipment Inspection and Testing Co., Ltd. for 54.6 million yuan [1] - CSPC Pharmaceutical Group (01093) has its application for the marketing of Pertuzumab Injection accepted by the National Medical Products Administration [1] - Rongli Construction (09639) plans to collaborate with CATL to develop efficient energy storage systems and solutions [1] Operating Performance - BeiGene (06160) reports a net profit attributable to shareholders of 1.139 billion yuan for the first three quarters, turning from loss to profit year-on-year [1] - Tencent Music-SW (01698) reports a net profit attributable to equity holders of 2.15 billion yuan in the third quarter, a year-on-year increase of 36.0% [1] - Zhou Li Fu (06168) sees a 32% year-on-year increase in e-commerce revenue for the first ten months, with net profit rising 71% year-on-year [1] - China Resources Land (01109) reports a cumulative contract sales amount of approximately 169.6 billion yuan for the first ten months, a year-on-year decrease of 16.6% [1]