Core Insights - Beijing aims to establish a comprehensive data element pilot zone by 2027, enhancing the interaction between data infrastructure and practical exploration, with a goal of achieving smooth data flow and efficient allocation by 2029, positioning data as a new competitive advantage for the city [1] Group 1: Policy and Strategic Initiatives - The "Implementation Opinions" released by the Beijing Municipal Government focus on addressing issues such as unclear data property rights, inefficient data circulation, insufficient data service supply, and the need for improved data infrastructure [1] - Beijing has proposed the establishment of a "one zone, three centers" strategy, which includes creating a comprehensive pilot zone for market-oriented data element allocation and building national data management, resource, and circulation centers [1] Group 2: Economic Development and Data Industry - The digital economy in Beijing is projected to grow at an average annual rate of 10.5% from 2021 to 2024, with a growth rate of 9% in the first three quarters of 2025, and the core industries of the digital economy seeing a growth rate of 10.7% [2] - The Xicheng District is leading the city with 24 construction tasks aimed at promoting high-quality data industry development, offering rewards up to 50 million yuan for technological innovation in the data sector [2] Group 3: Infrastructure and Technological Advancements - The Haidian District has developed a public computing platform with a computing power exceeding 10 P (Peta), making it the largest and most advanced supercomputing cluster in Beijing [2] - A comprehensive cross-border data flow service system has been established in Beijing, providing financial support for companies achieving compliant data export, with notable companies already benefiting from this initiative [3]

Core Viewpoint - Beijing is establishing a National Data Element Comprehensive Pilot Zone, aiming to complete pilot tasks by 2027 and position data elements as a new competitive advantage by 2029 [1][2] Group 1: Implementation and Objectives - The implementation plan emphasizes the integration of data development and security, with the establishment of a National Data Management Center, National Data Resource Center, and National Data Circulation and Trading Center [1] - The goal is to create a hub for national data technology innovation and development [1] Group 2: Public Data Supply Expansion - The plan includes promoting the sharing of government data, enhancing the efficiency of data product development, and establishing a clear operational model through central-local collaboration [1] - Beijing aims to enhance public data utilization, leveraging a big data platform that has aggregated over 820 billion high-frequency data entries, with more than 29 trillion data entries shared across departments and districts [2] Group 3: Cross-Border Data Flow - The implementation plan outlines measures to facilitate cross-border data flow, including the introduction of a negative list system for data export in the China (Beijing) Free Trade Pilot Zone [2] - A data cross-border service system will be developed to improve service capabilities, including a "green channel" for data export [2]

Group 1 - The meeting emphasized the importance of pollution prevention and control, aiming to achieve annual and "14th Five-Year Plan" goals, and to continuously improve the ecological environment quality in the capital [2][3] - Key tasks include winning the blue sky defense battle, enhancing air pollution control, and promoting the use of new energy vehicles, especially for old vehicles and non-road mobile machinery [2] - The meeting highlighted the need for strict supervision and enforcement in construction sites and road transport to prevent pollution, as well as the protection of water sources and soil environment [2] Group 2 - The fourth quarter is identified as a critical period for achieving annual goals and the "14th Five-Year Plan" completion, with a focus on economic stability and growth [3] - The meeting called for optimizing the business environment, enhancing talent services, and providing policy support to help enterprises overcome difficulties and improve competitiveness [3] - Emphasis was placed on expanding effective investment and planning major projects to play a key role in stabilizing growth [3]

Core Points - The Beijing municipal government held an executive meeting to discuss the progress of the "Beautiful Beijing" initiative and pollution prevention efforts, emphasizing the importance of achieving annual and "14th Five-Year Plan" goals [1][2] Group 1: Pollution Prevention and Environmental Protection - The meeting stressed the need to accelerate the implementation of key tasks to improve the ecological environment quality in the capital, with a focus on winning the "Blue Sky Defense War" and enhancing air pollution control [2] - Specific measures include deepening autumn and winter air pollution prevention, promoting the electrification of small vehicles, old trucks, and non-road mobile machinery, and advancing the creation of green enterprises [2] - The government will enhance supervision of construction sites and road transport, increase nighttime enforcement inspections, and strictly investigate road spillage [2] - Water pollution prevention will be prioritized, with measures to protect water sources and ensure safe drinking water for urban and rural areas [2] - The meeting highlighted the importance of managing soil environmental risks and preventing new pollution, while also promoting carbon peak and carbon neutrality initiatives [2] Group 2: Economic Growth and Business Environment - The fourth quarter is identified as a critical period for achieving annual goals and completing the "14th Five-Year Plan," with a focus on stabilizing economic growth [3] - The government aims to optimize the business environment by enhancing talent services, industrial support, and policy backing, while actively addressing enterprises' needs [3] - Specific sectors such as catering, accommodation, exhibitions, construction, and cultural entertainment will receive targeted measures to ensure stable growth [3] - The government plans to expand effective investment by implementing, reserving, and planning major projects to play a key role in stabilizing growth [3]

Core Points - The construction of the Qinyi Expressway project in Jiaozuo, Henan, is progressing rapidly, with over 90% completion expected to be ready for traffic by the end of the year [1][3] - The project is part of the Henan Provincial Highway Network Planning (2021-2035) and is a key construction project under the "13445" initiative [3] - The expressway will significantly improve regional transportation, facilitating the export of local agricultural products and supporting rural revitalization [3] Summary by Sections - **Project Progress**: The Qinyi Expressway's first section has seen over 24 million tons of asphalt laid, with construction teams working diligently during the National Day holiday to meet the year-end completion target [1] - **Project Significance**: Once completed, the expressway will connect key areas in Jiaozuo, enhancing transportation conditions and contributing to the development of the local economy and infrastructure [3] - **Challenges and Management**: The project team has effectively managed challenges such as long construction lines and extreme weather, ensuring a systematic approach to project execution [3]

Group 1 - The core viewpoint of the news is the launch of an integrated service scenario for construction project commencement in Beijing, aimed at optimizing the approval process and improving efficiency [1] - The new integrated service allows enterprises to apply for multiple permits simultaneously, including construction permits, fire design reviews, and waste disposal plans, through a unified online platform [1] - The reform standardizes the application process by unifying the reporting entity for construction waste disposal and site management, enabling a "one entity, one application" approach [1] Group 2 - The integrated service scenario builds on previous reforms initiated in 2018, which combined the issuance of construction permits with quality and safety supervision processes [2] - The initiative promotes cross-departmental collaboration among various governmental bodies, enhancing both online and offline service channels [2]

Group 1 - The plan announced by Beijing Construction (00925) has been approved by the court on August 22, 2025, without any amendments [1] - A copy of the court's approval order was registered with the Bermuda Registrar of Companies on August 27, 2025 [1] - All conditions outlined in the memorandum related to the plan have been fulfilled, and the plan became effective on August 27, 2025 [1] Group 2 - The listing status of the shares on the Stock Exchange will be revoked on August 29, 2025, at 4:00 PM [1]

Core Viewpoint - Beijing Construction (00925) has received court approval for its plan, which is set to take effect on August 27, 2025, and will result in the delisting of its shares from the Hong Kong Stock Exchange on August 29, 2025 [1] Summary by Relevant Sections - The plan was approved by the court on August 22, 2025, without any amendments [1] - A copy of the court's approval order was registered with the Bermuda Registrar on August 27, 2025 [1] - All conditions outlined in the memorandum related to the plan have been fulfilled, leading to the plan's effectiveness on August 27, 2025 [1] - The listing status of the shares on the Stock Exchange will be revoked at 4 PM on August 29, 2025 [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聯合公告之內容 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 聯合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之任何損失承 擔任何責任。 本聯合公告僅供參考，並不擬亦非構成或組成於任何司法權區購買或認購要 約人或本公司任何證券的任何要約或購買或認購有關證券的邀請，亦非招攬 任何投票或批准，亦不會於任何司法權區在違反適用法律的情況下出售、發 行或轉讓本公司證券。 本聯合公告並非供在、向或從刊發、登載或分發全部或部分內容即構成違反 任何司法權區適用法律或法規的有關司法權區刊發、登載或分發。 BRILLIANT BRIGHT HOLDINGS LIMITED 皓明控股有限公司 （根據英屬處女群島法律註冊成立為商業股份有限公司） BEIJING PROPERTIES (HOLDINGS) LIMITED 北京建 設（ 控 股 ）有限公 司 （於百慕達註冊成立之有限公司） （股份代號：925） 聯合公告 (1)建議由皓明控股有限公司根據公司法第99條 以計劃安排方式私有化北京建設（控股）有限公司 及 (2)建議撤銷北京建設（控股）有限公司的 ...

Core Viewpoint - Beijing Construction's privatization and delisting plan has been officially implemented, marking a smooth completion of the process in less than three and a half months [2] Group 1: Privatization Details - The privatization plan proposed by Haoming Holdings was approved by the court and the shareholders' meeting, with the plan taking effect on August 27 [2] - The shares of Beijing Construction will be delisted from the Hong Kong Stock Exchange on August 29 [2] - The privatization offers a premium of 250% over the share price before suspension, with the acquisition price set at HKD 0.14 per share compared to HKD 0.04 prior to suspension [8][9] Group 2: Benefits for Stakeholders - The privatization is seen as a win-win for both the controlling shareholders and minority shareholders, as it allows for greater operational flexibility and cost savings related to maintaining a public listing [4][9] - Minority shareholders will receive a significant premium, and the stock price jumped 220% on the day the privatization plan was announced [4][8] Group 3: Market Context - The real estate sector has faced adjustments, leading to continuous losses for Beijing Construction, which has resulted in a stock price significantly below its net asset value [4][9] - The company has struggled with low liquidity, making it difficult for investors to sell shares at favorable prices, thus the privatization provides an attractive exit opportunity for public shareholders [9] Group 4: Broader Market Trends - A total of 36 companies have delisted from the Hong Kong Stock Exchange this year, with real estate companies making up the largest share of these delistings [11] - Among the delisted companies, 8 are from the real estate sector, with 4 opting for privatization and 4 being canceled [11]