Core Viewpoint - The opening of the Cangzhou-Zhaoping Expressway enhances connectivity between Cangwu County, a historical tea region, and the Guangdong-Hong Kong-Macao Greater Bay Area, aiming to boost local economic development and tourism [1][3]. Group 1: Project Development - The Cangzhou-Zhaoping Expressway is considered a top priority project by the Cangwu County government, included in the county's economic and social development plan [1]. - Initial challenges included funding, route planning, and inter-provincial coordination, compounded by the county's weak economic foundation [3]. - A dedicated project construction command was established, implementing a "four ones" work mechanism to streamline project execution [3]. Group 2: Land Acquisition and Community Engagement - The expressway project requires approximately 6,000 acres of land, affecting nearly 30 villages and over 10,000 households [5]. - Local officials formed service teams to engage with residents, addressing concerns and facilitating the land acquisition process [5]. - Community outreach included policy explanations and support for residents facing difficulties, such as housing and education [5]. Group 3: Economic Impact - The expressway is expected to reduce raw material transportation costs by 25% and improve product delivery efficiency by nearly 40% for local tea producers [6]. - The logistics network enabled by the expressway allows tea producers to access major domestic markets and international regions, including the EU and Southeast Asia [6]. - Cangwu County plans to develop a "Tea Boat Ancient Road" tourism route, linking various attractions and promoting diverse tourism experiences [6].

Company News - Bank of China (03988.HK) has completed the issuance of 50 billion yuan in subordinated capital bonds, with the funds intended to supplement the bank's Tier 2 capital, subject to applicable laws and regulatory approvals [2] - Huadian International Power (01071.HK) has fully commissioned two 660,000 kW ultra-supercritical units at the Huadian Longkou Phase IV project, which integrates advanced technologies and achieves energy consumption levels comparable to the best in the domestic market, enhancing grid stability and local heating and industrial steam supply [2] - Weisheng Holdings (03393.HK) has entered into a capital increase agreement with Boyu Capital, with Boyu investing a total of 380 million yuan to subscribe for additional shares in its subsidiary [3] - Green Leaf Pharmaceutical (02186.HK) has granted Enhua exclusive commercialization rights for three long-acting injectable antipsychotic products in mainland China [4] - Heng Rui Medicine (01276.HK) has had its injectable SHR-A1904 included in the list of breakthrough therapy products by the drug review center [5] - Youzhiyou Biotechnology-B (02496.HK) has received IND approval from NMPA for Y225 (Aimeisai monoclonal antibody injection) [6] - MicroPort Robotics-B (02252.HK) has achieved a global commercialization milestone with over 100 installations of its Tumi laparoscopic surgical robot [7] - Gao Shan Enterprises (00616.HK) has signed a memorandum of understanding to establish a joint venture to participate in or invest in stablecoins and blockchain-related industries [8] - Energy International Investment (00353.HK) plans to issue a total of 1.035 billion subscription shares at a discount of approximately 18.33%, aiming to raise about 254 million HKD [9] Buyback Activities - Tencent Holdings (00700.HK) has repurchased approximately 636 million HKD worth of 1.056 million shares at prices ranging from 598 to 604 HKD [10] - Xiaomi Group-W (01810.HK) has spent 149 million HKD to repurchase 3.8 million shares at prices between 39.08 and 39.26 HKD [11] - China COSCO Shipping Holdings (01919.HK) has repurchased shares worth approximately 27.225 million HKD, acquiring 1.96 million shares at prices from 13.82 to 13.95 HKD [12] - Kuaishou-W (01024.HK) has repurchased shares for about 29.9896 million HKD, buying 464,000 shares at prices between 64.05 and 64.9 HKD [13]

Core Viewpoint - The announcement from Bay Area Development (00737) highlights the monthly toll revenue for three highways in November 2025, indicating mixed performance across the different routes [1] Revenue Summary - The monthly toll revenue for the Guangzhou-Shenzhen Expressway is approximately 248 million yuan [1] - The monthly toll revenue for the Guangzhou-Zhuhai West Line Expressway is approximately 99.79 million yuan, reflecting a year-on-year decrease of 6% [1] - The monthly toll revenue for the Jiangjiang Expressway (Shenzhen section) is approximately 74.24 million yuan, showing a year-on-year increase of 5% [1]

Core Viewpoint - The announcement from Bay Area Development (00737) highlights the monthly toll revenue for three highways in November 2025, indicating mixed performance across the different routes [1] Revenue Summary - The monthly total toll revenue for the Guangzhou-Shenzhen Expressway is approximately 248 million yuan [1] - The monthly total toll revenue for the Guangzhou-Zhuhai West Line Expressway is approximately 99.78 million yuan, reflecting a year-on-year decrease of 6% [1] - The monthly total toll revenue for the Jiangjiang Expressway (Shenzhen section) is approximately 74.24 million yuan, showing a year-on-year increase of 5% [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。 - 1 - 簡要說明 於 2025 年 11 月，廣深高速公路、廣珠西綫高速公路及沿江高速公路（深圳段）周邊 路網變化對車流量產生不同影響，因此三條高速公路的路費收入按年變動幅度高低不 一。 投資者可登錄本公司網站 http://www.sihbay.com 的「業務總覽」欄目，分別查閱各收 費公路的基本情況。 Shenzhen Investment Holdings Bay Area Development Company Limited 深 圳 投 控 灣 區 發 展 有 限 公 司 （於開曼群島註冊成立之有限公司） 股份代號：737（港幣櫃檯）及 80737（人民幣櫃檯） 2025 年 11 月未經審核之營運資料 深圳投控灣區發展有限公司（「本公司」，連同其附屬公司，統稱「本集團」）董事 會（「董事會」）謹此公佈本集團 2025 年 11 月未經審核之營運資料如下： | | 2024 | 年 11 ...

Core Viewpoint - The opening of the Guangzhou-Zhanjiang high-speed railway marks a significant milestone in the development of Guangdong's transportation infrastructure, enhancing connectivity within the Guangdong-Hong Kong-Macao Greater Bay Area and beyond [1][4]. Group 1: Infrastructure Development - The Guangzhou-Zhanjiang high-speed railway, with a total length of 401 kilometers, is the most complex, longest, and largest investment railway project built independently in Guangdong's history [1]. - The railway expands Guangdong's high-speed rail network to 3,411 kilometers, making it the province with the most extensive high-speed rail operations in China [1]. - The railway's operation is a crucial step towards achieving the ambitious goal of "every city in Guangdong connected by 350 km high-speed rail" [1]. Group 2: Economic Impact - The high-speed railway is expected to activate numerous development opportunities along its route, significantly enhancing the economic landscape of the region [1][3]. - It facilitates the rapid flow of production factors, thereby reshaping regional configurations and functions within the context of the Greater Bay Area [3]. - The railway will contribute to the emergence of new towns and industrial parks along its route, promoting the "high-speed rail economic belt" [3]. Group 3: Regional Integration - The Guangzhou-Zhanjiang high-speed railway connects with other major rail lines, enhancing accessibility to central and northern China, and will eventually link with the under-construction Hepu-Zhanjiang railway and the planned Zhanjiang-Haikou railway [3]. - The railway serves as a vital link between the Greater Bay Area and the Hainan Free Trade Port, facilitating orderly connections between national markets and resources [4]. - The integration of the Greater Bay Area and Hainan Free Trade Port through the railway is expected to bring about governance and collaborative advancements [4].

Core Viewpoint - The article highlights the importance of metrology in ensuring the accuracy and reliability of measurements across various sectors, emphasizing its role in supporting industrial development and fostering trust in measurement technologies between mainland China and the Hong Kong-Macau region [4][5][8]. Group 1: Metrology's Role and Development - Metrology has evolved from traditional measurement concepts to encompass various fields, including science, technology, and public welfare, ensuring the accuracy of instruments like scales and medical devices [4][5]. - The Guangdong Provincial Institute of Metrology has established a presence in Hong Kong since 1997, providing reliable measurement services and gaining the trust of local enterprises [5][6]. - The establishment of the "Guangdong-Hong Kong-Macau Greater Bay Area Metrology Development Cooperation Platform" aims to enhance collaboration and innovation in metrology across the region [8][9]. Group 2: Trust and Collaboration - Initial skepticism from Hong Kong enterprises regarding mainland metrology capabilities has been overcome through meticulous calibration services, leading to increased confidence in local technologies [5][6]. - The platform serves as a collaborative space for discussing metrology's role in supporting industrial development, focusing on emerging fields such as carbon measurement and low-altitude economy [9][10]. - The cooperation aims to create a unified system that connects cutting-edge technology with daily life, facilitating rule alignment and mutual recognition under the "One Country, Two Systems" framework [9][10].

Company News - Emperor Capital (00717.HK) reported total revenue of approximately HKD 730 million for the year ending September 30, 2025, representing a year-on-year increase of 37.3%. Net profit reached approximately HKD 147 million, up 121.4% year-on-year [2] - New Special Energy (01799.HK) plans to sell a 79.92% stake in Xinjiang Wind Power New Energy Partnership for approximately HKD 1.337 billion to facilitate a REITs issuance [2] - Bay Area Development (00737.HK) signed a construction contract for the Shenzhen section with a contract value of RMB 1.448 billion [2] - Weichai Power (03393.HK) won a bid for the Brazil CPFL project with a contract amount exceeding HKD 80 million [3] - WuXi AppTec (02359.HK) invested approximately EUR 30 million to acquire a 3.22% stake in a French biopharmaceutical fund [3] - Joy Spreader Group (02473.HK) established a long-term strategic cooperation with New Stone Technology in areas such as autonomous vehicle procurement and market promotion [3] - Fosun Pharma (02196.HK) signed a cooperation and option agreement with Clavis Bio to jointly advance preclinical development of selected target compounds [3] - CSPC Pharmaceutical Group (01093.HK) reported top-line analysis data from the Phase III clinical trial of its drug, Truxima [3] - Yihai International (01662.HK) announced a strategic cooperation between Trio AI and HGC [4] Financing and Buyback Activities - Zhi Yuan Holdings (00990.HK) plans to issue a total of 515 million new shares at a discount of approximately 1.4%, aiming to raise about HKD 355.3 million [5] - Tencent Holdings (00700.HK) repurchased 1.055 million shares for HKD 636 million, with buyback prices ranging from HKD 599.5 to HKD 605.5 [5] - Xiaomi Group-W (01810.HK) repurchased 3.75 million shares for HKD 151 million, with buyback prices between HKD 40.12 and HKD 40.24 [6] - COSCO Shipping Holdings (01919.HK) repurchased 5.9 million shares for HKD 80.6 million, with buyback prices from HKD 13.52 to HKD 13.76 [7] - Kuaishou-W (01024.HK) repurchased 1.235 million shares for HKD 80.2 million, with buyback prices ranging from HKD 64.35 to HKD 65.60 [7] - Geely Automobile (00175.HK) repurchased 1.908 million shares for HKD 31.8 million, with buyback prices between HKD 16.26 and HKD 16.8 [8]

湾区发展(00737)发布公告，经通过广州公共资源交易中心进行公开招标及投标程序后，广深珠公司(被 视为公司的附属公司)选定保利长大为中标单位，并于2025年12月18日与其订立深圳段施工合同(TJ2标 段)。根据深圳段施工合同(TJ2标段)，保利长大同意承接经批准路段(深圳段)改扩建项目中深圳TJ2标段 的施工工程，签约合同价为人民币14.48亿元。 ...

智通财经APP讯，湾区发展(00737)发布公告，经通过广州公共资源交易中心进行公开招标及投标程序 后，广深珠公司(被视为公司的附属公司) 选定保利长大为中标单位，并于2025年12月18日与其订立深圳 段施工合同(TJ2标段)。根据深圳段施工合同(TJ2标段)，保利长大同意承接经批准路段(深圳段)改扩建项 目中深圳TJ2标段的施工工程，签约合同价为人民币14.48亿元。 ...