Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (00728) at 74.86%, Green Power Environmental (01330) at 70.22%, and China Shenhua (01088) at 67.10% [1] - The largest increases in holding amounts over the last five trading days were seen in the following companies: Yingfu Fund (02800) with +5.886 billion, Hang Seng China Enterprises (02828) with +4.157 billion, and Li Auto-W (02015) with +2.947 billion [2] - The largest decreases in holding amounts over the last five trading days were recorded for Kangfang Biopharmaceutical (09926) with -0.774 billion, HSBC Holdings (00005) with -0.523 billion, and China Hongqiao (01378) with -0.506 billion [3] Group 1: Top Holding Ratios - China Telecom (00728) holds 10.39 billion shares, representing 74.86% of its total [1] - Green Power Environmental (01330) holds 0.284 billion shares, representing 70.22% of its total [1] - China Shenhua (01088) holds 2.266 billion shares, representing 67.10% of its total [1] Group 2: Recent Increases in Holdings - Yingfu Fund (02800) saw an increase of +5.886 billion in holding amount, with a change of +23.21079 million shares [2] - Hang Seng China Enterprises (02828) increased by +4.157 billion, with a change of +4.54198 million shares [2] - Li Auto-W (02015) increased by +2.947 billion, with a change of +2.86721 million shares [2] Group 3: Recent Decreases in Holdings - Kangfang Biopharmaceutical (09926) experienced a decrease of -0.774 billion, with a change of -0.47511 million shares [3] - HSBC Holdings (00005) saw a decrease of -0.523 billion, with a change of -0.54260 million shares [3] - China Hongqiao (01378) decreased by -0.506 billion, with a change of -2.37590 million shares [3]

Group 1 - The stock price of China Telecom reached 7.41 yuan as of August 5, 2025, with a slight increase of 0.01 yuan, representing a 0.14% rise compared to the previous trading day [1] - The company operates in the communication services industry, covering fixed communication, mobile communication, cloud computing, and big data [1] - China Telecom is one of the three major telecom operators in China, possessing extensive network infrastructure and a large user base [1] Group 2 - On August 4, China Telecom's Shanghai branch launched the first low-altitude 5G-A network in the Hangzhou Bay area and plans to achieve continuous coverage of the 120-meter low-altitude 5G-A network across Shanghai by the end of the year [1] - On August 5, there was a net inflow of 82.47 million yuan in main funds, with a cumulative net inflow of 461 million yuan over the past five days [1]

Group 1 - The stock price of Haoyun Technology closed at 6.92 yuan on August 5, down 0.57% from the previous trading day [1] - The trading volume on that day was 285,620 hands, with a transaction amount of 198 million yuan [1] - The stock opened at 6.97 yuan, reached a high of 7.00 yuan, and a low of 6.87 yuan during the trading session [1] Group 2 - Haoyun Technology is a high-tech enterprise focused on the Internet of Things and cloud computing, with main business areas including smart security and smart city solutions [1] - The company is headquartered in Guangdong and operates within the internet services industry [1] Group 3 - Haoyun Technology has signed a strategic cooperation agreement with China Telecom's Panyu branch, aiming for deep collaboration in industrial internet and cloud computing to promote regional industrial digital transformation [1] Group 4 - On August 5, the net outflow of main funds was 30.87 million yuan, accounting for 0.9% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow was 3.1842 million yuan, representing 0.09% of the circulating market value [1]

Core Insights - The CSI Hong Kong-Shanghai-Shenzhen 500 Communication Services Index has shown significant growth, with a 10.16% increase over the past month, 20.08% over the past three months, and 20.80% year-to-date [1][2] Group 1: Index Performance - The CSI Hong Kong-Shanghai-Shenzhen 500 Communication Services Index is currently at 2069.32 points [1] - The index is based on a sample of securities categorized into 11 industries, reflecting the overall performance of different sectors within the index series [1] Group 2: Index Holdings - The top ten weighted stocks in the index include Tencent Holdings (14.19%), China Mobile (13.04%), Kuaishou-W (8.97%), and others [1] - The market segment distribution of the index holdings shows that the Hong Kong Stock Exchange accounts for 50.91%, Shenzhen Stock Exchange for 32.89%, and Shanghai Stock Exchange for 16.20% [1] Group 3: Industry Composition - The industry composition of the index holdings includes Telecommunications Services (37.04%), Digital Media (27.18%), and Communication Equipment (25.97%) [2] - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2]

Group 1 - The core viewpoint of the article is the strategic cooperation between Haoyun Technology and China Telecom to promote digital transformation in regional industries through collaboration in industrial internet and cloud computing [1] Group 2 - Haoyun Technology (300448) and China Telecom (601728) signed a strategic cooperation agreement [1] - The collaboration will focus on deep cooperation in the fields of industrial internet and cloud computing [1] - The partnership aims to accelerate the digital transformation process of regional industries [1]

Core Viewpoint - The three major telecom operators in China (China Mobile, China Unicom, China Telecom) have made commitments to improve transparency and simplify their service packages in response to consumer complaints and regulatory scrutiny [1][3][27] Group 1: Operator Commitments - China Mobile announced ten service commitments, including requiring explicit customer consent for service orders and sending notification messages after service completion [1] - China Telecom introduced nine measures to ensure user consent before activating telecom services and to standardize the service cancellation process [1] - China Unicom plans to significantly reduce the variety and number of service packages, ensuring clear and categorized pricing information [1] Group 2: Consumer Complaints - Consumer complaints against the three operators have been rising sharply, with complaints increasing from 3,125 in 2022 to over 13,000 in 2023, marking a 316.99% increase [3][5] - By July 2025, complaints had reached 21,148, nearing the total for the previous year, with involved amounts exceeding 23.96 million yuan [5] - China Mobile led in complaints with 15,233 cases in the first half of 2025, but also had the highest resolution rate at 93.36% [7] Group 3: Key Complaint Issues - The main issues leading to complaints include unclear pricing (21.34%), package disputes (15.11%), and poor service attitude (13.80%) [9] - Specific complaints against China Mobile highlighted issues with unclear pricing and package disputes, while China Unicom faced complaints regarding recharge disputes and service attitude [9] Group 4: Consumer Experiences - Individual cases illustrate ongoing issues, such as a consumer being misled about broadband fees and another facing unexpected charges after a supposed "free upgrade" [11][17] - Consumers have reported that marketing tactics often obscure critical information about minimum charges and contract terms, leading to confusion and dissatisfaction [20] Group 5: Complaint Statistics - Complaints involving amounts over 100 yuan account for over half of all complaints, indicating significant financial impact on consumers [23] - The cities with the highest complaint rates are Guangzhou, Dongguan, and Beijing, reflecting regional disparities in consumer experiences [25] Group 6: Industry Outlook - The operators' recent commitments to transparency and simplification are seen as positive steps, but the effectiveness of these measures in addressing long-standing issues remains to be seen [27]

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (74.76%), Gree Power (70.14%), and China Shenhua (67.05%) [1] - The largest increases in holdings over the last five trading days were seen in the following companies: Yingfu Fund (+2.967 billion), Li Auto-W (+2.821 billion), and Hang Seng China Enterprises (+2.531 billion) [1] - The largest decreases in holdings over the last five trading days were recorded for Pop Mart (-807 million), China Mobile (-777 million), and Geely Automobile (-630 million) [2] Group 1: Hong Kong Stock Connect Holding Ratios - China Telecom (00728) holds 10.377 billion shares with a holding ratio of 74.76% [1] - Gree Power (01330) has 284 million shares and a holding ratio of 70.14% [1] - China Shenhua (01088) possesses 2.265 billion shares with a holding ratio of 67.05% [1] Group 2: Recent Increases in Holdings - Yingfu Fund (02800) saw an increase of +2.967 billion with a change of +11.772 million shares [1] - Li Auto-W (02015) increased by +2.821 billion with a change of +2.787 million shares [1] - Hang Seng China Enterprises (02828) rose by +2.531 billion with a change of +2.782 million shares [1] Group 3: Recent Decreases in Holdings - Pop Mart (09992) experienced a decrease of -807 million with a change of -321.66 thousand shares [2] - China Mobile (00941) saw a reduction of -777 million with a change of -908.28 thousand shares [2] - Geely Automobile (00175) decreased by -630 million with a change of -3,480.90 thousand shares [2]

Group 1 - The core point of the article highlights the financing activities of China Telecom, indicating a net buying amount of 9.63 million yuan on August 4, 2023, with a financing buy amount of 47 million yuan, ranking 360th in the market [1] - Over the last three trading days from July 31 to August 4, China Telecom received financing buy amounts of 39 million yuan, 49 million yuan, and 47 million yuan respectively [1] Group 2 - In terms of securities lending, on the same day, 300 thousand shares were sold short, while 288 thousand shares were net bought [2]

中国电信股份有限公司 （於中華人民共和國註冊成立之股份有限公司） （股份編號：728） 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產生或因倚賴該等內容而引致的任何損失承擔任何責任。 China Telecom Corporation Limited 董事會會議召開日期 中國北京，2025 年 8 月 4 日 於本公告刊發之日的本公司董事會包括柯瑞文（董事長兼首席執行官）；劉桂清（總裁兼首席 運營官）；唐珂、李英輝（財務總監）（皆為執行副總裁）；呂永鐘（非執行董事）；吳嘉寧、 楊志威、陳東琪、呂薇（皆為獨立非執行董事）。 中國電信股份有限公司（「本公司」）董事會（「董事會」）宣佈將於 2025 年 8 月 14 日（星 期四）舉行本公司董事會會議，藉以批准（其中包括）本公司及其附屬公司截至 2025 年 6 月 30 日止六個月的中期業績及考慮派發中期股息（如有）。 承董事會命 中國電信股份有限公司 公司秘書 黄玉霞 ...

Summary of Key Points Core Viewpoint - Southbound funds have become significant participants in the Hong Kong stock market, holding 18.32% of the total shares of Hong Kong Stock Connect stocks as of August 1, with a total market value of HKD 54,171.61 billion, representing 13.84% of the total market capitalization of these stocks [1]. Group 1: Southbound Fund Holdings - Southbound funds hold a total of 4,588.28 million shares in Hong Kong Stock Connect stocks, accounting for 18.32% of the total share capital [1]. - There are 218 stocks where southbound funds hold more than 20% of the total shares, while 142 stocks have a holding ratio between 10% and 20% [1]. - The stock with the highest southbound fund holding is China Telecom, with 103.78 million shares, representing 74.77% of its issued shares [2]. Group 2: Industry Concentration - The stocks with over 20% southbound fund holdings are primarily concentrated in the healthcare, industrial, and financial sectors, with 43, 33, and 32 stocks respectively [2]. - Among the stocks with high southbound fund holdings, 56.42% are AH concept stocks, indicating a preference for dual-listed companies [1]. Group 3: Detailed Stock Data - Key stocks with high southbound fund holdings include: - China Telecom (74.77% holding) [2] - Green Power Environmental (70.07% holding) [2] - China Shenhua (66.94% holding) [2] - Other notable stocks with significant holdings include Tianjin Chuangye Environmental Protection (64.60%), Kaisa New Energy (63.80%), and Fosun Pharma (62.58%) [2][3].