Financial Data - China Merchants Bank (03968.HK) reported a net profit of 97.342 billion yuan, an increase of 4.82% year-on-year [1] - Fast Retailing (06288.HK) saw a 0.7% decline in first-quarter net profit to 70.3 billion yen, with trading resuming tomorrow [1] - Highgate Group (08412.HK) narrowed its mid-term loss by 62.47% to 4.094 million Hong Kong dollars [1] - Dongjun Holdings (08383.HK) reported a first-quarter net profit of 3.92 million ringgit, a year-on-year increase of 113% [1] - Qian Sheng Group Holdings (08475.HK) narrowed its first-quarter loss by 55.37% to 216,000 Singapore dollars [1] Earnings Forecast - Jia Hong Logistics (02130.HK) expects a significant increase in annual net profit attributable to shareholders [1] - Zhongdi Dairy (01492.HK) anticipates a substantial increase in net profit for the ten months ending in October [1] - Guonong Financial Investment (08120.HK) expects a significant reduction in annual losses [1] - PIK Far East (00752.HK) forecasts a decrease of over 80% in annual profit attributable to shareholders [1] - Weiyali (00854.HK) expects to turn a profit of 59.3 million Hong Kong dollars in the first three quarters [1] - Jiuxing Holdings (01836.HK) anticipates annual net profit between 0 and 5 million US dollars [1] Operational Data - Ping An Insurance (02318.HK) reported original premium income of 797.34 billion yuan for 2020 [1] - Zhong An Online (06060.HK) achieved original premium income of 16.703 billion yuan in 2020, a year-on-year increase of 14.13% [1] - Luk Fook Holdings (00590.HK) reported a same-store sales decline of 29% in the third quarter [1] - Chalco International (02068.HK) signed new contracts worth 15.965 billion yuan in the fourth quarter, a year-on-year increase of 12.61% [1] - Yongjia Group (03322.HK) reported an 11% decrease in same-store sales for its high-end fashion retail business in the fourth quarter [1] - Delta Electronics Holdings (00179.HK) reported revenue of 2.242 billion US dollars for the first three fiscal quarters, a year-on-year decline of 4% [1] - Beijing Energy International (00686.HK) achieved a total power generation of 2.7567 million megawatt-hours in 2020 [1] - TRUE PARTNER (08657.HK) reported an asset management scale of approximately 1.59 billion US dollars by the end of December [1] Shareholding Changes - Minsheng Education (01569.HK) saw its chairman and controlling shareholder Li Xuechun increase his stake by 1.95 million shares [2] Mergers and Acquisitions - Non-Fan China (08032.HK) announced that LionRock intends to acquire a majority stake in Clark for £51 million [3] - Tan Carpenter (00837.HK) plans to acquire the remaining 9.09% stake in Jiangsu Tan Carpenter for 15.873 million yuan [3] - Guan Hua International Holdings (00539.HK) subsidiary sold a Hong Kong office property for 33 million Hong Kong dollars [3] Capital Restructuring - China Dredging Environmental Protection (00871.HK) plans a "2-for-1" share consolidation and will place 508 million shares to Chairman Liu Kaijin [2] Share Buybacks - Shisi Pharmaceutical Group (02005.HK) repurchased 2.71 million shares for 11.365 million Hong Kong dollars on January 14 [3] - Hengdeli (03389.HK) repurchased 16.7 million shares for 4.9681 million Hong Kong dollars on January 14 [3] - China Star Group (00326.HK) repurchased 555,000 shares for 0.8325 million Hong Kong dollars on January 14 [3]

Core Viewpoint - Beijing Energy International (00686) has signed a PC contract with China State Construction Engineering Corporation (CSCEC) for a photovoltaic power generation project, aligning with the company's strategy to expand its clean and renewable energy business [1][2] Group 1: Contract Details - The PC contract, valued at approximately RMB 136 million (including tax), involves CSCEC providing PC services for the construction of a 60 MW photovoltaic project located in Miyun County, Beijing [1] - The services under the PC contract include equipment procurement, construction, installation, testing, trial operation, final delivery, and external transmission line engineering, along with handling all regulatory approvals and compliance procedures [1] Group 2: Strategic Implications - The signing of the PC contract supports the company's strategy to expand its portfolio of photovoltaic projects, optimize asset structure, and enhance operational flexibility [1] - This initiative is expected to contribute to the company's sustainable development and create long-term returns for shareholders, in line with national policies promoting renewable and clean energy [1]

Core Viewpoint - Beijing Energy International (00686.HK) has announced a PC contract with China State Construction Engineering Corporation Second Bureau for a project valued at approximately RMB 136 million (including tax) [1] Group 1 - The contract was signed on December 24, 2025, between Beijing Jingyun (a wholly-owned subsidiary of the company) and China State Construction Engineering Corporation Second Bureau [1] - The contract involves the provision of PC services for the construction of a PC project [1]

Group 1 - The company Beijing Energy International (00686) has signed a PC contract with China State Construction Engineering Corporation (CSCEC) for a photovoltaic power generation project in Beijing, with a contract price of approximately RMB 136 million (including tax) [1] - The project will have a total planned capacity of 60 megawatts and includes services such as equipment procurement, construction, installation, testing, trial operation, and final delivery, as well as external transmission line engineering and related coordination [1] - CSCEC will be responsible for the construction and completion of the project, including repairing any faults or defects within a one-year warranty period [1] Group 2 - The company is expanding its clean and renewable energy business and optimizing its business structure, aligning with national policies promoting renewable energy development [2] - The signing of the PC contract is expected to support the company's ongoing expansion of photovoltaic projects, optimize asset structure, and enhance operational flexibility, contributing to sustainable development and long-term shareholder returns [2] - The board has reviewed the terms and conditions of the PC contract and considers them fair and reasonable, affirming that the transaction is conducted on general commercial terms and aligns with the overall interests of the company and its shareholders [2]

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。 686 須予披露交易 有關位於中國北京市 60兆瓦光伏發電項目的採購及建設合約 PC合約 於二零二五年十二月二十四日，北京京雲（本公司之全資附屬公司，作為發包 方）與中建二局（作為承包方）訂立PC合約。根據PC合約，中建二局將向北京京 雲提供PC服務，以建設PC項目。PC合約項下的合約價格約為人民幣136百萬元 （含稅）。 上市規則之涵義 由於有關訂立PC合約之最高適用百分比率超過5%但低於25%，故訂立PC合約 構成本公司之須予披露交易，因此須遵守上市規則第14章項下之通知及公告規 定。 –1– 緒言 董事會欣然宣佈，於二零二五年十二月二十四日，北京京雲（本公司之全資附屬公 司，作為發包方）與中建二局（作為承包方）訂立PC合約。根據PC合約，中建二局 將向北京京雲提供PC服務，以建設PC項目。PC合約項下的合約價格約為人民幣 136百萬元（含稅）。 PC合約 PC合約之主要條款載列如下： (ii) 中 ...

Group 1 - Beijing Energy International (00686.HK) announced the acquisition of 70% equity in Yangzhou Tairun New Energy Power for a cash consideration of 371 million RMB, to be paid using internal resources [2][6] - The target company operates the Jiangsu Province fish-solar complementary power generation project, with a total installed capacity of 460 megawatts [2][7] - The target company was established in China and is a wholly-owned subsidiary of the seller, which is primarily engaged in the development, investment, operation, and management of power generation and other clean energy projects [7][8] Group 2 - As of May 31, 2025, the net assets of the target company are approximately 529.8 million RMB [9] - The target company reported a pre-tax loss of 0.35 million RMB for the year ending December 31, 2023 [9]

Core Viewpoint - Beijing Energy International (00686) plans to acquire 70% equity of Yangzhou Tairun New Energy Power Development Co., Ltd. for approximately RMB 371 million (including tax) [1][3] Group 1: Acquisition Details - The acquisition is set to be completed by December 22, 2025 [1][3] - The target project has an installed capacity of approximately 460 megawatts [1][3] Group 2: Strategic Alignment - The board believes the acquisition aligns with the company's development strategy and provides an opportunity to expand its clean energy portfolio [1][3] - The move is consistent with the macro trend towards a green low-carbon energy system and aligns with China's 14th Five-Year Plan goals [1][3] Group 3: Operational and Financial Impact - The acquisition is expected to enhance the company's operational scale and asset base, generating potential operational synergies through effective resource allocation [1][3] - The geographical proximity of the target project to the company's existing photovoltaic project in Gaoyou, Jiangsu Province, is anticipated to improve project management and overall generation capacity, thereby enhancing profitability [1][3]

Core Viewpoint - Beijing Energy International (00686.HK) has announced a conditional agreement to acquire 70% of Yangzhou Tairun New Energy Power Development for approximately RMB 371 million, aligning with the company's strategy to expand its clean energy portfolio and optimize asset structure [1] Group 1: Acquisition Details - The buyer, Jingneng International (Gaoyou) New Energy, is a wholly-owned subsidiary of Beijing Energy International, while the seller is Gaoyou Yongtai Enterprise Operation Management [1] - The acquisition is set to be completed by December 22, 2025, and is expected to enhance the operational scale and asset base of the group [1] Group 2: Strategic Alignment - The board believes the acquisition aligns with the group's long-term focus on clean and renewable energy, supporting the transition to a green low-carbon energy system in line with China's 14th Five-Year Plan [1] - The deal is anticipated to create potential operational synergies through effective resource allocation and management integration, thereby strengthening the group's competitiveness in the clean energy market [1] Group 3: Project Capacity and Benefits - Post-acquisition, the target project's installed capacity will reach approximately 460 megawatts, which is geographically close to the group's existing photovoltaic project in Gaoyou, Jiangsu Province [1] - This proximity is expected to generate operational efficiencies and enhance overall power generation capacity, ultimately improving the group's profitability [1]

Core Viewpoint - Beijing Energy International (00686) plans to acquire a 70% stake in Yangzhou Tairun New Energy Power Development Co., Ltd. for approximately RMB 371 million, aligning with its strategy to expand its clean energy portfolio and optimize asset structure [1] Group 1: Acquisition Details - The acquisition is set to be completed by December 22, 2025, and is expected to enhance the company's operational scale and asset base [1] - The target project has an installed capacity of approximately 460 megawatts, which is geographically close to the company's existing solar power project in Gaoyou, Jiangsu Province [1] Group 2: Strategic Alignment - The board believes the acquisition aligns with the company's long-term focus on clean and renewable energy, supporting the transition to a green low-carbon energy system [1] - The move is in line with China's 14th Five-Year Plan goals, indicating a commitment to sustainable development [1] Group 3: Expected Benefits - The acquisition is anticipated to generate potential operational synergies through effective resource allocation and management integration [1] - It is expected to strengthen the company's overall competitiveness in the clean energy market, thereby enhancing profitability [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。 686 須予披露交易 收購於中國江蘇省擁有漁光互補發電項目之 目標公司之70%股權 股權轉讓協議 股權轉讓協議之主要條款載列如下： 收購事項 於二零二五年十二月二十二日，買方（本公司之全資附屬公司）、賣方、目標公 司及擔保人訂立股權轉讓協議，據此，買方有條件同意收購，且賣方有條件同 意出售目標公司之70%股權，代價約為人民幣371百萬元（含稅）。 上市規則之涵義 由於有關收購事項的最高適用百分比率超過5%但低於25%，故收購事項構成本 公司的須予披露交易，因此須遵守上市規則第14章項下的通知及公告規定。 本公司股東及潛在投資者應注意，完成須待先決條件獲達成及╱或（倘適用）豁 免後，方可作實。由於收購事項可能會或可能不會進行，本公司股東及潛在投 資者於買賣本公司證券時務須審慎行事。 –1– 緒言 董事會欣然宣佈，於二零二五年十二月二十二日，買方（本公司之全資附屬公司）、 賣方、目標公司及擔保人訂立股權轉讓 ...