Core Viewpoint - The company is actively investing in the Beijing Pingzhun Infrastructure Real Estate Investment Fund and the Shounong REIT, aiming to revitalize existing assets and align with national policy directives [1][2] Group 1: Investment Activities - The company's wholly-owned subsidiary, Beijing Shouyuan Xinrong Investment Co., Ltd., is involved in managing the Beijing Pingzhun Fund, which is investing in the Shounong REIT [1] - The Shounong REIT is backed by the Shounong Food Group, a major state-owned agricultural enterprise in Beijing, and serves as a significant initiative to activate existing assets [1] Group 2: Strategic Importance - The Shounong REIT is the first approved headquarters-type technology innovation industrial park REIT project, supporting the capital's strategy as a "Technology Innovation Center" [1] - The investment in the Shounong REIT is seen as a model for urban renewal financing and is expected to attract social capital [1] Group 3: Future Plans - The company plans to continue increasing its investment in China's core infrastructure real estate sector, leveraging its full industry chain synergy and REITs first-mover advantage [2] - The focus will be on enhancing the efficiency and value of core infrastructure assets in China [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，概不對因本公告全部或任何部份內容 而産生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公司董事會欣然宣佈，近日，本公司之全資附屬公司北京首源欣榮投資有限公司(「 首源欣榮」)和本集團所屬首程基石旗下公司（本公司之全資附屬公司）參與管理的北 京平准基礎設施不動產股權投資基金合夥企業(有限合夥)(「北京平准基金」)投資創金 合信首農產業園封閉式基礎設施證券投資基金(「首農REIT」),本次投資將進一步推動 存量資產有效盤活，積極響應國家政策導向，並推動本集團在核心資產及科技創新領域 的深耕與拓展。 北京首農食品集團有限公司(「首農食品集團」)是北京市政府屬大型國有農業食品企業， 產業橫跨農牧漁業、食品加工、商貿物流、房地產及資產管理，綜合實力居中國農業食 品行業前列，是首都食品供應保障的核心載體。首農REIT以首農食品集團投資、建設 並持有的中關村移動智能服務創新園作為底層資產，是響應國家盤活存量資產號召、服 務首都「科技創新中心」戰略定位的有力舉措，也是首個獲批的總部型科技創新產業園 R ...

Group 1 - The investment in the embodied intelligence industry is experiencing a significant surge, with the company "Accelerated Evolution" completing over 100 million RMB in A+ round financing led by Shoucheng Holdings [2] - Since its establishment in 2023, Accelerated Evolution has completed six rounds of financing, attracting investments from notable firms such as Shoucheng Holdings and Inno Angel Fund [2] - The company focuses on high-frequency usage and user feedback to continuously improve its hardware and software capabilities, achieving leading performance and reliability in the industry [2] Group 2 - The main product of Accelerated Evolution is the "Booster T1," a bipedal humanoid robot that stands 1.1 meters tall and weighs 29 kg, with mass production set to begin in October 2024 [3] - The Booster T1 robot won first place in a speed competition at the IEEE-RAS Humanoids 2024 conference, showcasing its competitive edge in the market [3] - Accelerated Evolution plans to enter the consumer market with the upcoming release of the Booster K1 robot [3] Group 3 - Accelerated Evolution is one of the early companies to develop a robot operating system and development platform, which enhances research efficiency and lowers development barriers [4] - The company is part of a broader investment strategy by Shoucheng Holdings, which has invested in numerous core enterprises across the humanoid robot and AI systems sectors [4] - Shoucheng Holdings has initiated a global brand recruitment plan for "robot comprehensive experience stores," indicating a strategic expansion in the robotics market [4]

表格類別： 股票 狀態： 新提交 公司名稱： 首程控股有限公司 呈交日期： 2025年7月24日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | | 00697 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | 已發行股份總數 | | | | | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不 ...

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，概不對因本公告全部或任何部份內容 而産生或因倚賴該等內容而引致的任何損失承擔任何責任。 加速進化致力於打造簡單、可靠、實用的人形機器人產品，依託「本體+系統+開發者工 具」的差異化產品戰略，在人形本體研發、端到端全身運動控制大模型及系統級軟體工 程等方面構建深厚的全棧技術壁壘。此次投資將為加速進化在產品研發、商業場景拓展 和產能建設等方面提供更大動能，進一步加速其技術創新與市場拓展進程。 本集團未來將堅定不移地持續加大在機器人產業的投資佈局，尤其是與優質、高潛力企 業進行持續合作，通過投資領先的主機廠企業，本集團將挖掘上下游產業鏈投資機會， 推動被投企業產業加速商業閉環和開拓更多落地場景。 承董事會命 首程控股有限公司 主席 趙天暘 香港，2025年7月24日 自願公告 北京機器人基金投資加速進化 本公告乃由首程控股有限公司（「本公司」，連同其附屬公司「本集團」）自願發出。 本公司董事會欣然宣佈，近日，本集團所屬首程資本旗下公司（本公司之全資附屬公司） 所管理的北京機器人產業發展投資基金（ ...

8月10日，作为2025世界机器人大会的重要专场活动，由首程控股(00697.HK)主办的"机器人创投主题交 流会"在北京亦创国际会展中心主会场重磅登场。论坛现场发布了"2025中国最具投资价值机器人公司 TOP20"与"2025中国最具成长潜力机器人公司TOP30"两大榜单，吸引了国内顶尖机器人企业创始人、 产业领袖、学术专家和投资机构代表齐聚一堂，共同探讨在"机器人量产元年"背景下的技术变革与资本 逻辑。 作为本届世界机器人大会中最具资本穿透力的专场，论坛的主办方——首程控股，正凭借独特的"产业 +资本"双轮驱动模式，从一级市场的活跃投资人，升级为引导产业生态构建、推动技术应用落地的"链 主资本"代表。其背后，是一套区别于传统投资机构的全链条赋能体系，也为当前AI时代下的机器人产 业注入了深层次的动能。 三、"资本+场景+生态"的平台化打法，构建估值与交付闭环 这套打法，也体现在其机器人产业的系统性布局中。截至2025年6月，首程控股旗下首程资本已布局数 十家机器人相关企业，涵盖人形机器人(宇树科技)、具身智能平台(星海图)、AI运动控制芯片(银河通 用)、小型人形与工业机器人(加速进化)、认知导航(云深 ...

Core Viewpoint - The recent acquisition of the Yumi Community in Shanghai by AIA Insurance highlights the growing interest of insurance capital in real estate investments, driven by declining interest rates and a scarcity of quality assets [1][2]. Investment Trends - As of July 22, 2023, four insurance companies have announced 13 real estate investments totaling approximately 4.747 billion yuan, showing a significant increase compared to the same period last year [2]. - Insurance companies are increasingly focusing on rental-type properties such as shopping centers, office buildings, and long-term rental apartments to secure stable rental income [1][2]. Market Environment - The current low interest rate environment has made traditional fixed-income assets less appealing, prompting insurance capital to seek alternative investment channels [2][3]. - The yield on 10-year government bonds was reported at 1.69% as of July 22, 2023, while the maximum guaranteed interest rate for most ordinary life insurance products is around 2.5% [3]. Investment Strategies - Insurance capital is diversifying its investment methods, moving away from heavy investments in real estate stocks to include direct equity investments, private equity funds, and public REITs [3][4]. - The focus is on high-quality real estate in core urban areas, with expected net operating income rates around 4%, which can cover liability costs [4]. Research and Development Needs - The current allocation of insurance capital to real estate is relatively low, indicating potential for growth as the policy environment improves [6]. - There is a need for enhanced research and investment capabilities within insurance companies to effectively manage real estate investments, which involve complex market, financial, operational, and legal considerations [5][6]. Exit Strategies - The ability to exit real estate investments is a significant consideration for insurance capital, with public REITs and bulk transactions being the primary exit channels [7]. - Recommendations include easing the entry barriers for public REITs and promoting the development of asset securitization products to facilitate smoother exits [7].

Group 1 - The core viewpoint of the article highlights the imminent IPO of Yushutech, a leading humanoid robot company, and the significant investment returns expected for Shicheng Holdings, which holds a 4.087% stake in Yushutech [1][2] - Yushutech has achieved remarkable growth, with annual revenue surpassing 1 billion RMB in 2024, nearly doubling from the previous year, and its flagship product, Unitree Go1, capturing over 60% of the global consumer quadruped robot market [3][4] - Shicheng Holdings' investment strategy in Yushutech has proven effective, with the company's valuation increasing from 8 billion RMB to 12 billion RMB in just eight months, indicating a 50% increase in the value of Shicheng's holdings [3][4] Group 2 - Shicheng Holdings has established a comprehensive ecosystem in the robotics sector, integrating capital, application scenarios, and the industrial chain, which enhances its competitive advantage [4][5] - The company has made significant investments in various robotics firms, achieving over threefold returns in the robotics sector within a year, with some projects yielding returns as high as tenfold [4][5] - Shicheng Holdings is transforming its infrastructure operational advantages into a technology implementation accelerator, providing real-world environments for portfolio companies to enhance their market presence [6][8] Group 3 - The launch of Yushutech's IPO marks a critical validation moment for Shicheng Holdings' investment model, which combines stable cash flow from REITs with high-growth potential from robotics investments [7][8] - Shicheng Holdings' market capitalization is currently around 10 billion HKD, significantly lower than its asset value and industrial potential, suggesting a potential re-evaluation as Yushutech's IPO progresses [8]

Core Viewpoint - The innovation drug sector is gradually recovering, leading to valuation restoration in both A-share and Hong Kong markets, driven by regulatory optimization, stable medical insurance payment policies, and positive international clinical trial results [1] Group 1: Investment Focus - The company has concentrated its investments in hard technology, artificial intelligence, and medical fields, with representative projects in gene cell therapy, high-end ophthalmic equipment, and surgical robots, which are poised to benefit from the recovery cycle of innovative drugs [2] - In the cell therapy sector, the company invested in Yimiao Shenzhou, a local enterprise that has achieved a full-process serum-free CAR-T technology, enhancing the clinical application prospects of cell therapy products [2] Group 2: High-end Medical Devices - The company’s investment in TUPAI Medical, a domestic ophthalmic equipment platform, has led to it achieving the highest market share in domestic OCT products and entering a sales acceleration phase with its ophthalmic surgical microscope [3] - TUPAI Medical is expanding from diagnostic to therapeutic devices, establishing a foundation for an intelligent surgical platform in ophthalmology and other clinical areas [3] Group 3: Policy and Market Dynamics - The medical health sector is entering a new cycle of dual benefits from policy and market, with national emphasis on high-end medical devices and self-innovated drugs [4] - The company’s investment strategy focuses on key technological nodes and deep engagement with important enterprises, which may lead to positive impacts on its fundamentals and market image as main funds return to the innovative drug and medical technology sectors [4]

| 發行人所發行上市權證/可轉換債券的相關信息 | | | --- | --- | | 上市權證/可轉換證券名稱及代號 SHOUCHENG B2607 (5723) | | | 為享有股息權利而行使轉換權之最後 2025年7月15日 時限 | 16:30 | | 其他信息 | | | 詳情請參閱本公司2025年7月15日之公告。 | | | 發行人董事 | | | 於本公告日期，董事會包括執行董事趙天暘先生（主席）、李浩先生（副主席）、許華傑先生及劉景偉先生；非執行董事吳禮順先 | | | 生、彭吉海先生及何智恒先生；獨立非執行董事王鑫博士、張泉靈女士、諸葛文靜女士、張建偉博士及謝其潤女士。 | | EF001 免責聲明 | 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，概不對因 | | | --- | --- | | 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。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 首程控股有限公司 | | 股份代號 | 00697 | | 多櫃檯股份代號及貨幣 ...