Group 1 - The company expects to record an unaudited consolidated net profit of no less than RMB 450 million for the six months ending June 30, 2025, representing a significant increase compared to RMB 78 million for the six months ending June 30, 2024 [2] - The profit increase is primarily attributed to a substantial rise in the fair value of financial assets, which increased by over RMB 550 million [2] - During this period, revenue decreased by approximately RMB 330 million, while administrative and other operating expenses, as well as sales and service costs, decreased by about RMB 120 million [2]

Group 1 - The company, Shango Holdings (00412.HK), expects to achieve an unaudited consolidated net profit of at least approximately RMB 450 million for the six months ending June 30, 2025, compared to an unaudited consolidated net profit of approximately RMB 78 million for the six months ending June 30, 2024 [1] - As of August 21, 2025, Shango Holdings closed at HKD 18.33, up 0.71%, with a trading volume of 6.269 million shares and a turnover of HKD 115 million [1] - The stock has received a majority of "Buy" ratings from investment banks, with four firms issuing "Buy" ratings in the last 90 days [1] Group 2 - Shango Holdings has a market capitalization of HKD 109.554 billion, ranking second in the diversified financial industry [2] - Key financial metrics for Shango Holdings include a revenue of RMB 5.581 billion, a net profit margin of 12.41%, and a gross profit margin of 47.23% [2] - The company's debt ratio stands at 73.16%, significantly higher than the industry average of 39.59% [2]

Core Viewpoint - The company anticipates a significant increase in net profit for the six months ending June 30, 2025, compared to the same period in 2024, driven by various financial factors [1] Financial Performance - The company expects to achieve an unaudited consolidated net profit of not less than approximately RMB 450 million for the six months ending June 30, 2025, compared to an unaudited consolidated net profit of approximately RMB 78 million for the six months ending June 30, 2024 [1] - The increase in net profit is primarily attributed to a substantial rise in the fair value of financial assets, exceeding approximately RMB 550 million [1] - Revenue for the period is expected to decrease by approximately RMB 330 million [1] - Administrative and other operating expenses, as well as sales and service costs, are projected to decrease by approximately RMB 120 million [1]

山高控股(00412)发布公告，集团预期截至2025年6月30日止6个月(本期间)将取得未经审核综合净利润不 少于约人民币4.5亿元，而于截至2024年6月30日止6个月则取得未经审核综合净利润约人民币7800万 元。 本期间未经审核综合净利润的增加主要归因于下列各项的净影响： 按公允值计入损益的金融资产的公允值大幅增加超过约人民币5.5亿元;本期间收益减少约人民币3.3亿 元;及本期间行政及其他经营开支及销售及服务成本减少约人民币1.2亿元。 ...

Core Viewpoint - The company anticipates a significant increase in net profit for the six months ending June 30, 2025, projecting an unaudited net profit of approximately RMB 450 million, compared to an unaudited net profit of about RMB 78 million for the same period ending June 30, 2024 [1] Financial Performance - The projected increase in net profit is primarily attributed to several factors, including a substantial increase in fair value gains on financial assets exceeding approximately RMB 550 million [1] - The company expects a decrease in revenue of approximately RMB 330 million during the period [1] - Administrative and other operating expenses, as well as sales and service costs, are anticipated to decrease by approximately RMB 120 million [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，概不就因本公告之全部或任 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。 (a) 按公允值計入損益之金融資產之公允值大幅增加超過約人民幣550百萬元； 1 (b) 本期間收益減少約人民幣330百萬元；及 (c) 本期間行政及其他經營開支及銷售及服務成本減少約人民幣120百萬元。 本公司仍在編製本集團於本期間的中期業績。本公告所載資料僅為董事會根據本集 團於本期間之未經審核綜合管理賬目及本集團目前可得的其他資料作出之初步評 估。其仍然有待最終定稿及作出必要調整，且尚未經本公司核數師確認、審核或審 閱，亦未經本公司審核委員會審閱。謹請股東及潜在投資者參閱將於本集團未經審 核中期業績公告披露之本集團於本期間的財務表現詳情，未經審核中期業績公告預 計將於2025年8月29日刊發。 （於百慕達註冊成立之有限公司） （股份代號：412） 內幕消息 正面盈利預告 本公告乃由山高控股集團有限公司（「本公司」，連同其附屬公司「本集團」）根據證券 及期貨條例（香港法例第571章）第XIVA部項 ...

Core Viewpoint - Shandong High-tech Holdings (00412) is experiencing a stock price increase, attributed to its upcoming board meeting to discuss mid-term performance and its strategic partnership with Huawei aimed at developing a "green computing + clean energy" model [1][1]. Company Developments - Shandong High-tech Holdings' stock rose over 4% in late trading, currently at 18.04 HKD with a trading volume of 105 million HKD [1]. - The company is set to hold a board meeting on August 29 to consider and approve its mid-term performance [1]. Strategic Partnerships - In May, Shandong High-speed Group signed a strategic cooperation agreement with Huawei, focusing on a dual-driven development model of "green computing + clean energy" [1]. - As the only subsidiary of Shandong High-speed Group with an integrated computing and electricity industry segment, Shandong High-tech Holdings will play a key role in this collaboration [1]. Industry Outlook - According to Zhongtai Securities, Shandong High-tech Holdings is expected to see rapid growth in performance over the next few years due to its deepening layout in the AIDC industry and the synergistic effects from its major shareholder, Shandong High-speed Group [1]. - The company's revenue growth will be primarily driven by Shandong High-tech New Energy, which is poised to benefit from the booming green electricity market in China [1]. - Century Internet is expected to continue benefiting from advancements in artificial intelligence and the "East Data West Computing" project, contributing to profit growth [1]. - The standard investment business is projected to remain stable, while the risk exposure in non-standard investment business is expected to gradually decrease [1].

Group 1 - The core viewpoint of the article highlights that Shandong High-speed Holdings (00412) is experiencing a stock price increase, attributed to its upcoming board meeting to consider mid-term performance and strategic partnerships [1] - The company is set to hold a board meeting on August 29 to approve its mid-term results, indicating a focus on performance evaluation [1] - Shandong High-speed Holdings is the only subsidiary of Shandong High-speed Group with an integrated computing and electricity industry segment, positioning it as a key player in the strategic cooperation with Huawei aimed at developing a "green computing + clean energy" model [1] Group 2 - According to Zhongtai Securities, the company's performance is expected to grow rapidly in the coming years due to its deepening layout in the AIDC industry and the synergistic effects brought by its major shareholder, Shandong High-speed Group [1] - The main revenue growth is anticipated to come from Shandong High-speed New Energy, which will benefit from the booming green electricity market in China [1] - Century Internet is expected to continue benefiting from the development of artificial intelligence and the promotion of the "East Data West Computing" project, contributing to profit growth [1] - The standard investment business is predicted to remain stable, while the risk exposure in non-standard investment business is expected to gradually decrease [1]

Group 1 - The Hong Kong Stock Connect Non-Bank ETF (513750) has seen a significant increase of 1.78% as of August 13, 2025, and a cumulative rise of 56.70% since its low on April 10 [1] - The ETF's trading volume was active, with a turnover rate of 17.57% and total transactions amounting to 2.628 billion yuan [1] - The latest inflation data from the US showed a mild increase, with a month-on-month rise of 0.2% and a year-on-year increase of 2.7%, which is below market expectations [1] Group 2 - As of August 13, 2025, the Hong Kong Stock Connect Non-Bank ETF reached a record high in size at 14.879 billion yuan, with a year-to-date growth of over 1785.80% [2] - The ETF has seen continuous net inflows over the past six days, with a peak single-day net inflow of 906 million yuan, totaling 1.720 billion yuan in net inflows year-to-date [2] - The ETF's net asset value has increased by 94.24% over the past year, ranking 37 out of 2956 index equity funds, placing it in the top 1.25% [2] Group 3 - The CSI Hong Kong Stock Connect Non-Bank Financial Theme Index (931024) has its top ten weighted stocks accounting for 78.19%, with major holdings including China Ping An, AIA, and Hong Kong Exchanges [3] - Insurance stocks are viewed as having dual dividend advantages, benefiting from both high dividends and the performance of high-dividend assets in which leading insurers have invested [3] - The non-bank sector is expected to benefit from macroeconomic stability and potential interest rate cuts by the Federal Reserve, which could enhance market activity in both A-shares and Hong Kong stocks [3] Group 4 - The Hong Kong Stock Connect Non-Bank ETF (513750) is the first and only ETF tracking the non-bank index, with over 60% of its composition in insurance stocks [4] - The ETF selects up to 50 listed companies that meet the non-bank financial theme from the Hong Kong Stock Connect securities range to reflect the overall performance of this sector [4]

Core Insights - The Hong Kong Stock Connect Non-Bank ETF has reached a record size of 13.044 billion yuan as of August 8, 2025, marking a year-to-date growth of 1553.23% [1] - The ETF has seen a net inflow of 348 million yuan over the last three days, with a single-day peak inflow of 215 million yuan [1] - The ETF's net asset value has increased by 90.54% over the past year, ranking 38 out of 2954 index stock funds, placing it in the top 1.29% [2] Fund Performance - The Hong Kong Stock Connect Non-Bank ETF has achieved a maximum monthly return of 31.47% since its inception, with the longest consecutive monthly gain being 4 months and a total increase of 38.25% [2] - The ETF has outperformed its benchmark with an annualized return of 7.17% over the last six months [2] - The ETF has a turnover rate of 7.55% and an average daily trading volume of 1.536 billion yuan over the past month [1] Index Composition - The top ten weighted stocks in the CSI Hong Kong Stock Connect Non-Bank Financial Theme Index account for 78.19% of the index, with major holdings including China Ping An, AIA, and Hong Kong Exchanges and Clearing [3] - The insurance sector's net assets reached 3.75 trillion yuan in the first half of 2025, reflecting a year-on-year growth of 23.4% [3] Market Trends - The Hong Kong insurance industry reported a new single premium of 93.4 billion HKD in Q1 2025, representing a year-on-year increase of 43.4% and a quarter-on-quarter increase of 86.2% [4] - The demand for savings remains strong in the market, and regulatory changes are expected to ease liability costs for insurance companies [4] - The insurance sector is entering a new cycle of healthy growth, supported by regulatory measures and economic recovery [4] ETF Characteristics - The Hong Kong Stock Connect Non-Bank ETF is the first and only ETF tracking the Hong Kong non-bank index, with over 60% of its holdings in the insurance sector [5] - The ETF is designed to reflect the overall performance of up to 50 listed companies in the non-bank financial theme within the Hong Kong Stock Connect range [5]