Summary of Key Points Core Viewpoint - The Hang Seng Index experienced a slight decline of 0.13% on September 25, with southbound capital transactions totaling HKD 156.31 billion, indicating a net inflow of HKD 11.046 billion [1][2]. Southbound Capital Transactions - Total southbound capital transactions amounted to HKD 1,563.10 million, with buy transactions at HKD 836.78 million and sell transactions at HKD 726.32 million, resulting in a net buy of HKD 110.46 million [1]. - The breakdown of transactions shows that the Shenzhen Stock Connect had a total transaction amount of HKD 577.51 million, with net buying of HKD 62.16 million, while the Shanghai Stock Connect had a total transaction amount of HKD 985.59 million, with net buying of HKD 48.30 million [1]. Active Stocks - Alibaba-W led the southbound capital transactions with a total transaction amount of HKD 182.84 million and a net buy of HKD 46.32 million, despite a closing price drop of 1.15% [1][2]. - Other notable stocks included Xiaomi Group-W with a total transaction amount of HKD 114.02 million and a net sell of HKD 8.02 million, and SMIC with a total transaction amount of HKD 77.63 million and a net buy of HKD 9.59 million [1][2]. Continuous Net Buying - Alibaba-W and SMIC were highlighted for their continuous net buying, with Alibaba-W experiencing 25 consecutive days of net buying totaling HKD 720.86 million, while SMIC had 5 consecutive days with a total net buy of HKD 25.60 million [2].

来源：视频滚动新闻 未来世界控股公告，于2025年9月25日，集团已在公开市场出售6,310,500股山高控股股份，总代价约为 30,880,000港元（不包括交易成本）。出售事项占山高控股已发行股份总数约0.1%。出售事项后，本集 团已不再持有任何山高控股股份。 ...

Core Viewpoint - Future World Holdings (00572.HK) announced the sale of 6.31 million shares of Shankou Holdings at a total consideration of approximately HKD 30.88 million, with the sale price ranging from HKD 4.80 to HKD 5.13 per share [1] Group 1 - The average sale price per share of Shankou Holdings, excluding transaction costs, was approximately HKD 4.89 [1] - The shares sold represent about 0.1% of the total issued shares of Shankou Holdings as of the announcement date [1] - After the sale, the company no longer holds any shares in Shankou Holdings [1] Group 2 - The transaction was conducted in the open market, making it impossible to determine the identity of the counterparties involved in the sale [1] - The company confirmed that the counterparties and their ultimate beneficial owners are independent third parties after reasonable inquiries by the directors [1]

未来世界控股(00572)发布公告，于2025年9月25日，集团已于公开市场出售631.05万股山高控股股份， 总代价约为3088万港元(不包括交易成本)。 ...

Group 1 - Future World Holdings (00572) announced the sale of 6.3105 million shares of Shankou Holdings on the open market [1] - The total consideration for the sale was approximately HKD 30.88 million, excluding transaction costs [1]

Core Insights - On September 25, 2025, Alibaba-W (09988), Xiaomi Group-W (01810), and SMIC (00981) were the top three companies by trading volume in the southbound trading of the Stock Connect, with trading amounts of 11.969 billion, 7.178 billion, and 4.734 billion respectively [1] - The same companies also led in the Shenzhen-Hong Kong Stock Connect southbound trading, with trading amounts of 6.315 billion, 4.224 billion, and 3.029 billion respectively [1] Southbound Trading Highlights - **Top Active Companies in Southbound Trading (Shanghai-Hong Kong Connect)**: - Alibaba-W (09988): Trading amount of 11.969 billion, net buying of 2.469 billion [2] - Xiaomi Group-W (01810): Trading amount of 7.178 billion, net selling of 0.287 billion [2] - SMIC (00981): Trading amount of 4.734 billion, net buying of 0.666 billion [2] - **Top Active Companies in Southbound Trading (Shenzhen-Hong Kong Connect)**: - Alibaba-W (09988): Trading amount of 6.315 billion, net buying of 2.163 billion [2] - Xiaomi Group-W (01810): Trading amount of 4.224 billion, net selling of 0.515 billion [2] - SMIC (00981): Trading amount of 3.029 billion, net buying of 0.293 billion [2]

在最近有统计数据的5个交易日内，亿华通（02402）、大眾公用（01635）、山高控股（00412）港股通 持股占比增加值最大，分别增加13.01%、11.51%、9.91%；山东墨龙（00568）、百果园集团 （02411）、南方恆生科技（03033）港股通持股占比减少值最大，分别减少-4.88%、-3.01%、-2.91%。 具体数据如下（交易所数据根据T+2日结算）： 1、港股通最新日占比增持榜（前20名） | 公司名称 | 占比值变动 | 最新持股比例 | | --- | --- | --- | | 大眾公用(01635) | +9.54% | 44.50% | | 恆生中国企业(02828) | +4.80% | 7.82% | | 山高控股(00412) | +1.79% | 11.35% | | 盈富基金(02800) | +1.64% | 5.70% | | 赤峰黄金(06693) | +1.64% | 46.42% | | 香港宽频(01310) | +1.29% | 6.35% | | 重庆钢铁股份(01053) | +1.17% | 31.80% | | 赣锋鋰业(01772) | +1 ...

沪港通（南向）十大活跃成交公司 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | 160.93 亿元 | +25.68 亿元 | | 中芯国际(00981) | 62.37 亿元 | +2.20 亿元 | | 山高控股(00412) | 47.93 亿元 | +6.32 亿元 | | 腾讯控股(00700) | 36.53 亿元 | +12.57 亿元 | | 小米集团-W(01810) | 24.12 亿元 | -4.33 亿元 | | 大众公用(01635) | 20.39 亿元 | +1009.21 万元 | | 美团-W(03690) | 19.72 亿元 | +1.77 亿元 | | 华虹半导体(01347) | 18.97 亿元 | -2622.09 万元 | | 优必选(09880) | 13.51 亿元 | -2360.66 万元 | | 中兴通讯(00763) | 11.46 亿元 | -3.54 亿元 | 智通财经APP获悉，2025年9月24日当天，阿里巴巴-W(09988)、中芯国际(00981)、山高控股(004 ...

Group 1 - The stock of Shankou Holdings (00412.HK) increased by over 9% on September 24, reaching a rise of 9.38% and trading at 5.82 HKD [1] - The trading volume for Shankou Holdings was 1.015 billion HKD [1]

Core Viewpoint - Shandong High Holdings (00412) has seen a significant stock price increase of 9.38%, reaching HKD 5.82, with a trading volume of HKD 1.015 billion, reflecting positive market sentiment towards the company's strategic transformation and investments in the new energy and infrastructure sectors [1] Group 1: Company Transformation and Investments - Since 2021, Shandong High Holdings has shifted from quasi-financial investments to industrial investment holdings, acquiring 56.97% of Shandong New Energy and 42.12% of Century Internet, establishing a "new energy + new infrastructure" business model [1] - The company has engaged in resource empowerment and decision-making at Century Internet, leading to improvements in operational and financial metrics [1] - Century Internet has successfully issued USD 430 million in convertible bonds and received approval for a real estate asset-backed special plan, enhancing its recognition in the capital market [1] Group 2: Strategic Development and Digital Transformation - In response to the new development phase of the 14th Five-Year Plan, the company aims to leverage national strategic technological trends to create a unique digital ecosystem [1] - The company is focusing on digital transformation to align with its strategic goals and enhance operational efficiency [1] Group 3: Stock Performance and Market Reactions - On September 19, the company noted unusual trading price and volume fluctuations, but confirmed that there were no significant changes in business operations or financial status apart from previously announced matters [1] - The board of directors has assured that the group's business operations remain normal, indicating stability amidst market volatility [1]