根据国务院及国土资源部颁佈的相关监管规定要求，建立以数量为基础、以产能为核心的占补平衡新机 制。该机制透过实施耕地数量、粮食产能及水田面积三类指标的核销制度，以确保占补平衡。因此，鉴 于项目需占用耕地，乍嘉苏公司须按照耕地占补平衡相关规定购买补充耕地指标。由于省级及地方指标 供应紧张，乍嘉苏公司向浙江省自然资源厅或嘉兴市自然资源和规划局申请时，无法同步取得该项目所 需的全部三类指标规模。此外，因自然资源部政策调整，乍嘉苏公司的国家统筹指标申请亦未获批准。 随后，经相关政府部门建议，该项目可通过跨市调剂方式使用补充耕地国家统筹结余指标。将甬台温高 速公路改扩建工程三门痲岙岭段的结余补充耕地指标调剂至该项目，将确保该项目所需的耕地指标获得 满足。 根据补充耕地指标调剂协议，沈海公司将按塬购入价格向乍嘉苏公司转让结余补充耕地指标，该价格亦 符合浙江省过去三年内同类项目的单价。此外，向沈海公司购买补充耕地指标总价优于向嘉兴市人民政 府购买指标总价。 浙江沪杭甬(00576)发布公告，于2025年9月10日，本公司的非全资附属公司乍嘉苏公司与沈海公司订立 补充耕地指标调剂协议。沈海公司同意将甬台温高速公路改扩建工程三门 ...

智通财经APP讯，浙江沪杭甬(00576)发布公告，于2025年9月10日，本公司的非全资附属公司乍嘉苏公 司与沈海公司订立补充耕地指标调剂协议。沈海公司同意将甬台温高速公路改扩建工程三门痲岙岭段的 结余补充耕地指标调剂予乍嘉苏公司，以供该项目使用;乍嘉苏公司同意就此补充耕地指标调剂支付费 用。 根据国务院及国土资源部颁佈的相关监管规定要求，建立以数量为基础、以产能为核心的占补平衡新机 制。该机制透过实施耕地数量、粮食产能及水田面积三类指标的核销制度，以确保占补平衡。因此，鉴 于项目需占用耕地，乍嘉苏公司须按照耕地占补平衡相关规定购买补充耕地指标。由于省级及地方指标 供应紧张，乍嘉苏公司向浙江省自然资源厅或嘉兴市自然资源和规划局申请时，无法同步取得该项目所 需的全部三类指标规模。此外，因自然资源部政策调整，乍嘉苏公司的国家统筹指标申请亦未获批准。 随后，经相关政府部门建议，该项目可通过跨市调剂方式使用补充耕地国家统筹结余指标。将甬台温高 速公路改扩建工程三门痲岙岭段的结余补充耕地指标调剂至该项目，将确保该项目所需的耕地指标获得 满足。 根据补充耕地指标调剂协议，沈海公司将按塬购入价格向乍嘉苏公司转让结余补充耕 ...

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。 （股份代號：0576） （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） (1)關連交易 補充耕地指標調劑協議； 及 (2)關 於2024年度報告供股募集資金用途之補充公告 (1) 補充耕地指標調劑協議 (2) 關 於2024年度報告供股募集資金用途之補充公告 茲 提 述：(i)本公司日期為2023年11月21日 有 關 供 股 之 章 程；及(ii)本 公 司截至2024年12月31日 止 年 度 之 年 度 報 告。本 補 充 公 告 旨 在 提 供 有 關 餘 下 供 股 募 集 資 金 使 用 之 預 期 時 間 表 之 補 充 資 料。 於2025年9月10日，本 公 司 之 非 全 資 附 屬 公 司 乍 嘉 蘇 公 司 與 沈 海 公 司 訂 立 補 充 耕 地 指 標 調 劑 協 議。據 此 ...

Core Insights - The Hong Kong Stock Exchange (HKEX) has seen a significant increase in new stock financing, with a total of HKD 134.5 billion raised in the first eight months of the year, marking a nearly sixfold year-on-year growth [1] - A+H listing mode has accounted for 70% of the total fundraising in the first half of the year, indicating strong connectivity between the mainland and Hong Kong markets [1] - There are currently over 51 A-share companies in the queue to list in Hong Kong, reflecting a growing trend of A-share companies seeking dual listings [2] Group 1: A+H Listing Trends - 11 A-share companies have successfully completed A+H listings this year, raising over HKD 90 billion, which constitutes about 70% of the total IPO fundraising in Hong Kong [2] - The top five IPOs in Hong Kong this year are all A+H companies, with four of them raising over HKD 10 billion each [2] - Notable companies preparing for Hong Kong listings include SANY Heavy Industry, Sungrow Power Supply, and others, indicating a robust pipeline of A-share companies looking to enter the Hong Kong market [2] Group 2: Innovative Listing Methods - New listing methods such as share swap mergers and privatization are emerging, providing companies with alternative financing channels and optimizing resource allocation [3] - Zhejiang Hu-Hang-Yong plans to achieve A+H listing through a share swap merger with Zhenyang Development, while New Hope Group intends to privatize New Hope Energy and list in Hong Kong through an introduction [3] - These innovative approaches are expected to enhance companies' capital strength and risk resilience [3] Group 3: Structural Improvements in the Hong Kong Market - The enthusiasm for A+H dual financing platforms is driven by multiple factors, including support from the mainland for quality companies to list in Hong Kong and ongoing optimization of the listing process by HKEX [4] - The trend reflects a growing number of high-quality companies in the A-share market aiming for global expansion and enhanced international competitiveness [4] Group 4: Market Dynamics and Pricing - The influx of quality companies into the Hong Kong market is expected to improve the structural imbalance in the market and attract more capital [5] - As of September 5, 161 A+H stocks were listed, with only 5 showing higher H-share prices than A-shares, indicating a significant price disparity [5] - The premium for A-shares over H-shares has decreased, with some companies experiencing substantial discounts, reflecting a shift in market sentiment and the impact of a low-interest-rate environment in the mainland [5][6]

Group 1 - The Hong Kong Stock Exchange (HKEX) has seen a significant increase in new stock financing, reaching HKD 134.5 billion in the first eight months of the year, a nearly sixfold year-on-year growth, with A+H listings accounting for 70% of the total fundraising in the first half of the year [1][2] - A total of 11 A-share companies have completed A+H listings this year, raising over HKD 90 billion, which represents about 70% of the total IPO fundraising in the Hong Kong market [2] - More than 51 A-share companies are currently in the process of preparing for their listings in Hong Kong, including notable firms like SANY Heavy Industry and Sungrow Power Supply [2][3] Group 2 - Innovative listing methods are emerging in the current A+H expansion wave, such as share swap mergers and privatization, which provide companies with new financing channels and resource optimization opportunities [3] - Zhejiang Hu-Hang-Yong plans to achieve A+H listing through a share swap merger with Zhenyang Development, while New Hope Group intends to privatize New Hope Energy through its wholly-owned subsidiary and list on the Hong Kong Stock Exchange [3] Group 3 - The enthusiasm for A+H listings is driven by multiple factors, including support from mainland authorities for quality companies to list in Hong Kong and the ongoing optimization of the approval process by HKEX [4] - The trend of A+H listings is expected to improve the industry structure of the Hong Kong market, attracting more capital and updating the composition of A+H listed companies [5] Group 4 - As of September 5, 2023, among 161 A+H stocks, only 5 have H-share prices exceeding A-share prices, with CATL showing the largest discount at 17.43% [5][6] - The premium of A-shares over H-shares has significantly decreased, reflecting a shift in market sentiment and a revaluation of H-shares due to the low interest rate environment in mainland China [6]

Core Viewpoint - The company, Zhejiang Huhangyong Expressway Co., Ltd. (referred to as "Zhejiang Huhangyong"), is planning a share swap merger with Zhenyang Development Co., Ltd. (referred to as "Zhenyang Development"), which will result in Zhenyang Development being delisted and dissolved, while Zhejiang Huhangyong will continue to operate and list its shares on both A-share and H-share markets [1][2][5]. Group 1: Merger Details - The merger involves Zhejiang Huhangyong issuing A-shares to Zhenyang Development's shareholders in exchange for their shares, with a swap price set at 14.58 CNY per share, reflecting a 29.83% premium over Zhenyang Development's average price of 11.23 CNY over the past 120 trading days [4]. - Following the merger, Zhejiang Huhangyong will inherit all assets, liabilities, and rights of Zhenyang Development, and will apply for the listing of the newly issued A-shares on the Shanghai Stock Exchange [2][4]. Group 2: Financial Metrics - As of the signing date of the merger proposal, Zhenyang Development has a total share capital of 441,895,215 shares, and Zhejiang Huhangyong will issue a total of 477,246,833 A-shares for the merger [4]. - The merger is classified as a major asset restructuring for Zhenyang Development, as Zhejiang Huhangyong's total assets, revenue, and net assets exceed 50% of Zhenyang Development's corresponding figures as of the end of 2024 [4]. Group 3: Strategic Implications - The merger aims to enhance the role of state-owned enterprises and broaden funding sources for highway construction, contributing to the development of a modern, efficient, and green transportation system [5]. - This transaction will enable Zhejiang Huhangyong to achieve dual listing in both A-share and H-share markets, facilitating capital operations in both markets [5].

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8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 浙江滬杭甬高速公路股份有限公司 呈交日期: 2025年9月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00576 | 說明 | H 股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,979,184,656 | RMB | | 1 | RMB | | 1,979,184,656 | | 增加 / 減少 (-) | | | 44,151,186 | | | | RMB | | 44,151,186 | | 本月底結存 | | | 2,023,335,842 | RMB | | 1 | RMB | ...

浙江沪杭甬(00576)涨近4%，截至发稿，涨3.85%，报7.02港元，成交额2862.02万港元。 消息面上，浙江沪杭甬公布，建议以发行A股方式换股吸收合并镇洋发展（603213），实现"A+H"两地 上市。公司A股发行价13.5元人民币，镇洋发展换股价14.58元人民币，基准每持有1股镇洋发展获1.08股 公司A股。按人民币汇率中间价1港元对0.91183元人民币，发行价较9月2日收报溢价119.01%。 本次交易涉及发行2.16亿股A股，连同原内资股转换的A股，共计44.92亿股A股将申请于上交所上市流 通。公告指出，浙江沪杭甬本次通过换股吸收合并的方式实现"A+H"两地上市，有利于拓宽资金来源， 为高速公路建设提供资金支持，进一步承接长三角的发展机遇。 ...

本次交易涉及发行2.16亿股A股，连同原内资股转换的A股，共计44.92亿股A股将申请于上交所上市流 通。公告指出，浙江沪杭甬本次通过换股吸收合并的方式实现"A+H"两地上市，有利于拓宽资金来源， 为高速公路建设提供资金支持，进一步承接长三角的发展机遇。 智通财经APP获悉，浙江沪杭甬(00576)涨近4%，截至发稿，涨3.85%，报7.02港元，成交额2862.02万港 元。 消息面上，浙江沪杭甬公布，建议以发行A股方式换股吸收合并镇洋发展，实现"A+H"两地上市。公司 A股发行价13.5元人民币，镇洋发展换股价14.58元人民币，基准每持有1股镇洋发展获1.08股公司A股。 按人民币汇率中间价1港元对0.91183元人民币，发行价较9月2日收报溢价119.01%。 ...

Group 1 - The core viewpoint of the article is that Zhejiang Huhangyong intends to merge with Zhejiang Zhanyang Development through a share exchange, which is in compliance with regulatory requirements [1][2] - The board of directors of Zhejiang Zhanyang Development has conducted a careful analysis and believes that the transaction meets the requirements outlined in the regulatory guidelines [1][2] - The transaction will allow the surviving company to inherit all assets, liabilities, and rights of Zhejiang Zhanyang Development, enhancing its independence and risk resistance [2] Group 2 - Both Zhejiang Huhangyong and Zhejiang Zhanyang Development do not have any issues that would affect their legal existence or restrict the transaction [2] - The transaction aims to highlight the main business and improve the ability to manage risks, which is beneficial for the surviving company [2] - The board has indicated that all necessary approvals for the transaction have been disclosed in detail, along with specific risks related to potential non-approval [1]