Core Viewpoint - The announcement from the company highlights the findings of the Hong Kong Securities and Futures Commission regarding shareholder ownership and stock price performance, indicating significant price appreciation and compliance with public shareholding requirements [1] Shareholder Ownership - As of September 1, 2025, 20 shareholders collectively held 24.00% of the company's shares, along with two major shareholders holding 68.46%, totaling 92.46% of shares held by these shareholders, while the remaining 7.54% is held by other shareholders [1] Stock Price Performance - The company's stock price increased by 193.6% from HKD 5.82 to HKD 17.09 between April 16, 2025, and September 1, 2025 [1] - As of September 17, 2025, the stock price was HKD 14.80, reflecting a 154.3% increase since April 16, 2025 [1] Compliance with Listing Rules - The company's board confirmed that as of September 1, 2025, and the date of the announcement, at least 25% of the issued shares were held by the public, in accordance with the public shareholding requirements of the Stock Exchange [1]

Major Events - Jinfang Pharmaceutical-B (02595) received a subscription rate of 2662.79 times for its public offering in Hong Kong, raising approximately HKD 1.67 billion from the global offering [1] - Heng Rui Pharmaceutical (01276) announced that its SHR-1501 injection has been included in the list of proposed breakthrough therapy products [1] - Shanghai Pharmaceuticals (02607) successfully passed the consistency evaluation for the generic drug Nicorandil tablets [1] - Qutech Technology (01478) plans to sell 51.08% of its stake in India for INR 5.53 billion [1] - Boleton (01333) signed a procurement contract for energy storage system equipment with Guoxia Technology [1] - Hongye Futures (03678) shareholders Suhao Huihong and Hongye Logistics collectively reduced their holdings by 5.9482 million shares [1] - Shangu Holdings (00412) responded to concerns about concentrated shareholding, stating that the company can comply with public shareholding regulations [1] - Changfei Optical Fiber and Cable (06869) experienced unusual stock price fluctuations, with its hollow core fiber business not yet significantly impacting financial data [1] - Sanhua Intelligent Control (02050) reported abnormal trading fluctuations in A-shares, confirming no undisclosed significant matters or ongoing major planning [1] Operating Performance - China Pacific Insurance (02601) reported that its life insurance premium income for the first eight months reached CNY 217.05 billion, a year-on-year increase of 13.2% [1] - Datang Renewable (01798) completed a power generation volume of 2.1691 million MWh in August, representing a year-on-year increase of 27.5% [1]

Core Viewpoint - The announcement from the company highlights the findings of the Securities and Futures Commission (SFC) regarding the company's shareholding structure, indicating a significant concentration of ownership among a small number of shareholders [1][2]. Group 1: Shareholding Structure - As of September 1, 2025, twenty shareholders collectively held 1.445 billion shares, representing 24.00% of the issued shares [1]. - The two major shareholders own 4.121 billion shares, accounting for 68.46% of the issued shares, leading to a total of 92.46% of the shares being held by these shareholders [1]. - Only 454 million shares, or 7.54% of the issued shares, are held by other shareholders [1]. Group 2: Share Price Movement - The closing price of the shares increased by 193.6% from HKD 5.82 on April 16, 2025, to HKD 17.09 on September 1, 2025 [1]. - On September 17, 2025, the share price closed at HKD 14.80, which is 154.3% higher than the closing price of HKD 5.82 on April 16, 2025 [1]. Group 3: Compliance with Listing Rules - The company confirms that at least 25% of its issued shares are held by the public as of September 1, 2025, ensuring compliance with the public shareholding requirements of the Stock Exchange [2].

本公司董事会谨此澄清，上述资料摘录自证监会公告，且本公司并无独立核实该等资料，惟(a)山东高 速集团有限公司透过山东国际(香港)有限公司间接持有的股份，此乃基于根据证券及期货条例(香港法例 第571章)第XV部所提交的最新可得权益披露通知;及(b)上文第(i)及(ii)段所载资料除外。 根据所得资料并就董事在作出一切合理查询所知，本公司确认，于2025年9月1日及本公告日期，本公司 已发行股份至少25%乃由公众持有，本公司能够遵守联交所证券上市规则项下的公众持股量规定。 智通财经APP讯，山高控股(00412)发布公告，本公司注意到，证券及期货事务监察委员会(证监会)已于 2025年9月18日刊发公告(证监会公告)。诚如证监会公告所披露，证监会最近曾就本公司的股权分布进 行查讯。证监会的查讯结果显示，于2025年9月1日，有二十名股东合共持有本公司 14.45亿股股份(股 份)，相当于已发行股份的24.00%。有关股权连同由两名本公司主要股东持有的41.21亿股股份(占已发行 股份的68.46%)，相当于已发行股份的92.46%。因此，仅4.54亿股股份(占已发行股份的7.54%)由其他股 东持有。 诚如证监 ...

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。 （於百慕達註冊成立之有限公司） （股份代號：412） 股權高度集中 本公告乃應聯交所之要求，就本公司之股權於2025年9月1日集中於極少數股東一 事而刊發。 本公司注意到，證券及期貨事務監察委員會（「證監會」）已於2025年9月18日刊發公 告（「證監會公告」）。誠如證監會公告所披露，證監會最近曾就本公司之股權分佈進 行查訊。證監會的查訊結果顯示，於2025年9月1日，有二十名股東合共持有本公司 1,444,804,136股股份（「股份」），相當於已發行股份之24.00%。有關股權連同由兩名 本公司主要股東持有之4,121,118,477股股份（佔已發行股份之68.46%），相當於已發 行股份之92.46%。因此，僅453,508,496股股份（佔已發行股份之7.54%）由其他股東持 有。 1 根據證監會公告，於2025年9月1日，本公司之股權架構如下： | | | 佔已發行 | | --- | -- ...

Core Viewpoint - The recent inquiry by the Securities Regulatory Commission revealed that a significant portion of the company's shares is concentrated among a few shareholders, raising concerns about ownership distribution and potential implications for market dynamics [1] Shareholding Structure - As of September 1, 2025, twenty shareholders collectively hold 1.4448 billion shares, representing 24.00% of the company's issued share capital [1] - Two major shareholders own 4.121 billion shares, accounting for 68.46% of the issued share capital [1] - Consequently, only 453.5 million shares, or 7.54% of the issued share capital, are held by other shareholders [1] Stock Price Performance - The company's stock price increased by 193.6%, rising from HKD 5.82 on April 16, 2025, to HKD 17.09 on September 1, 2025 [1] - On September 17, 2025, the stock closed at HKD 14.80, reflecting a 154.3% increase compared to the closing price of HKD 5.82 on April 16, 2025 [1]

于2025年9月17日，该公司股价收报14.80港元，较2025年4月16日的收市价5.82港元高出154.3%。 智通财经APP讯，山高控股(00412)发布公告，证监会最近曾就该公司的股权分布进行查讯。查讯结果显 示该公司于2025年9月1日，有二十名股东合共持有14.448亿股该公司股份，相当于该公司已发行股本的 24.00%。有关股权连同由两名该公司的主要股东持有的41.21亿股(占已发行股本的68.46%)，相当于该 公司已发行股本的92.46%。因此，该公司只有4.535亿股(占已发行股本的7.54%)由其他股东持有。 该公司股份的收市价从2025年4月16日的5.82港元上升193.6%至2025年9月1日的17.09港元。 ...

二零二五年九月十八日 股權高度集中 山高控股集團有限公司（股份代號：00412） 附註 1 : 山東國際（香港）有限公司持有 1,245,844,600 股該公司股份。山東國際（香港） 有限公司由山東省農村經濟開發投資公司全資擁有，而山東省農村經濟開發投資公 司由山東高速集團有限公司全資擁有。因此，山東高速集團有限公司被視為於山東 省農村經濟開發投資公司間接持有的該公司股份中擁有權益。 證券及期貨事務監察委員會("證監會")現就山高控股集團有限公司("該公司")之股權於 二零二五年九月一日集中於極少數股東一事發出此公布。 鑑於股權高度集中於數目不多之股東，即使少量股份成交，該公司之股份價格亦可能大幅 波動，股東及有意投資者於買賣該公司股份時務請審慎行事。 證監會最近曾就該公司之股權分佈進行查訊。查訊結果顯示該公司於二零二五年九月一日， 有二十名股東合共持有 1,444,804,136 股該公司股份，相當於該公司已發行股本之 24.00%。有關股權連同由兩名該公司的主要股東持有之 4,121,118,477 股（佔已發行股本 之68.46%），相當於該公司已發行股本之 92.46%。因此，該公司只有 453,5 ...

Core Viewpoint - The article discusses the significant stock price drop of Shandong High-Speed Holdings (山高控股) amidst no negative fundamental news, leading to a swift response from management with a $100 million share buyback plan, highlighting a divergence in market perception of the company's intrinsic value [1][2][19]. Group 1: Market Reaction and Management Response - On September 16, the stock price of Shandong High-Speed Holdings experienced a sharp decline, prompting management to announce a $100 million share buyback plan the same evening [1][4]. - The stock price rebounded by 17.37% on September 17, indicating strong investor support for management's decisive action [6][19]. - The unusual trading activity was characterized by a concentrated sell-off within a short time frame, suggesting possible malicious short-selling by foreign institutions [3][4]. Group 2: Business Transformation and Strategic Positioning - Shandong High-Speed Holdings has undergone a significant transformation over the past three years, establishing a dual-engine growth model centered on "green electricity" and "computing power" [1][10]. - The company has strategically invested in Shandong High-Speed New Energy and Century Internet, positioning itself as a key player in the AI and green energy sectors [10][11]. - The integration of green electricity and computing power creates a unique ecosystem that addresses critical industry pain points, such as high electricity costs and energy consumption efficiency [14][15]. Group 3: Financial Performance and Future Outlook - For the first half of 2025, Shandong High-Speed Holdings reported revenues of approximately 2.503 billion RMB and a net profit of about 476 million RMB, reflecting a year-on-year growth of over five times [19]. - The company’s total assets exceeded 67.5 billion RMB, with emerging industry-related assets accounting for nearly 77% of total assets, indicating a strong focus on growth in these sectors [19]. - The recent buyback plan is seen as a strong counter to short-sellers and a signal of the company's commitment to expanding in the AI computing market [20][22].

山高控股(0412.HK)今日盘中一度大涨20.14%至15.15港元。山高控股昨日晚间公告宣布一项规模最高达1亿美元的股份回购计划。山高控股称，董事会已决 议行使股东周年大会上所获之一般性授权，在公开市场进行股份回购，公司计划以每股不超过17港元的价格回购股份，总金额不超过1亿美元，资金将来自 现有现金流及营运资金。 公司认为，股份购回反映公司对自身业务发展及前景充满信心，股份回购计划符合公司长期发展战略。董事会认为，公司现有稳健的财政状况足以支持股份 回购，同时维持充裕财务资源以满足其业务发展，实施股份回购计划符合公司和其股东的整体利益。(格隆汇) ...