Company News - China Power (02380.HK) signed three independent general contracting agreements with State Nuclear Power Technology Corporation and Shandong Institute, involving a total investment of 768 million yuan [1] - Huitongda Network (09878.HK) completed the acquisition of a 25% stake in Jintongling (300091.SZ), accelerating the implementation of its "integrated production and sales" strategy [1] - CGN New Energy (01811.HK) reported a power generation of 1,647.8 GWh in January, an increase of 7.9% year-on-year [1] - R&F Properties (02777.HK) recorded a contract sales revenue of approximately 720 million yuan in January, a decrease of 8.05% year-on-year [1] - Hopson Development (00754.HK) reported a contract sales amount of approximately 591 million yuan in January, an increase of 24.95% year-on-year [1] - Aoyuan Group (01813.HK) reported contract sales of 325 million yuan in January, a decrease of 35.3% year-on-year [1] - Jianye Real Estate (00832.HK) reported a contract sales amount of 398 million yuan in January, a decrease of 31.1% year-on-year [1] Financial Performance - Shanghai Fudan (01385.HK) projected total revenue of approximately 3.982 billion yuan for 2025, a year-on-year increase of 10.92%, while net profit is expected to be around 232 million yuan, a decrease of 59.42% year-on-year [2] - Ruian Real Estate (00272.HK) issued a profit warning, expecting a net loss attributable to shareholders between 1.7 billion yuan and 1.8 billion yuan for the 2025 fiscal year [2] - YTO Express (06123.HK) issued a profit warning, anticipating a net loss of approximately 145 million to 154 million HKD for the 2025 fiscal year [3] - Baisheng Group (03368.HK) issued a profit warning, expecting a net loss attributable to shareholders of approximately 186 million yuan for the 2025 fiscal year [3] - IFBH (06603.HK) expects a year-on-year decrease in net profit of approximately 27% to 32% for 2025 [4] Strategic Developments - Yingxing Holdings (01440.HK) is exploring the establishment of its AI infrastructure and Software as a Service (SaaS) capabilities to support its AI-driven business plans [5] - Yinger International (08379.HK) has decided to focus on new business in artificial intelligence and industrial digital transformation, concentrating on technology research and commercial applications in the field of digital finance [5] - Samsonite (01910.HK) is seeking shareholder approval for a dual listing share issuance authorization [5] Buyback Activities - Xiaomi Group-W (01810.HK) repurchased 2.7 million shares for a total of approximately 98.36 million HKD, with a buyback price ranging from 36.30 to 36.48 HKD [6] - Geely Automobile (00175.HK) repurchased 1.595 million shares for approximately 26.91 million HKD, with a buyback price ranging from 16.71 to 16.98 HKD [6] - NetEase Cloud Music (09899.HK) repurchased 92,000 shares for approximately 14.96 million HKD, with a buyback price ranging from 160.3 to 166.5 HKD [6] - Kingsoft (03888.HK) repurchased 725,000 shares for approximately 19.99 million HKD, with a buyback price ranging from 27.38 to 27.76 HKD [6] Industry Performance - China Shenhua (01088.HK) reported coal sales of 33.2 million tons in January, an increase of 9.9% year-on-year, and total electricity sales of 20.96 billion kWh, an increase of 34.4% year-on-year [7] - China Southern Airlines (01055.HK) reported a year-on-year decrease of 1.10% in passenger capacity input and a decrease of 2.86% in passenger turnover, with a seat occupancy rate of 83.26%, down 1.51 percentage points year-on-year [7] - China Eastern Airlines (00670.HK) reported a year-on-year decrease of 3.54% in passenger capacity input and a decrease of 1.03% in passenger turnover, with a seat occupancy rate of 85.01%, up 2.16 percentage points year-on-year [7]

Core Data - Coal business: The company reported a coal production of 27.4 million tons, representing a year-on-year increase of 10.0% [1] - Coal sales volume reached 33.2 million tons, showing a year-on-year growth of 9.9% [1] - Transportation business: The self-owned railway transportation turnover was 25.7 billion ton-kilometers, up by 9.8% year-on-year [1] - Huanghua Port loading volume was 18.5 million tons, reflecting a significant year-on-year increase of 20.9% [1] - Shipping turnover decreased by 16.4% year-on-year to 6.1 billion nautical miles [1] - Power generation business: Total power generation reached 22.22 billion kilowatt-hours, marking a year-on-year increase of 34.2% [1] - Total electricity sales amounted to 20.96 billion kilowatt-hours, with a year-on-year growth of 34.4% [1] - Coal chemical business: Polyethylene sales were 31,000 tons, down by 2.5% year-on-year [1] - Polypropylene sales were 29,000 tons, reflecting a year-on-year decline of 2.7% [1] Important Notes - The company noted that the year-on-year growth in coal, railway, port, and power generation businesses was primarily due to a low base effect from the Spring Festival holiday in January 2025 [1] - Monthly operational data may be subject to fluctuations due to weather, maintenance, and seasonal factors [1]

【中国神华并购重组获证监会同意 12家标的公司整体交易对价1336亿元】中国神华（601088.SH）2026 年2月12日公告，当日收到证监会同意其发行股份购买资产并募集配套资金注册的批复。证监会同意中 国神华向国家能源投资集团有限责任公司（以下简称"国家能源集团"）发行13.63亿股股份购买相关资 产的注册申请，同意发行股份募集配套资金不超过200亿元的注册申请。 截至2025年7月31日，标的资产合计的总资产为2334.23亿元，合计的归母净资产为873.99亿元；2024年 度，标的资产合计实现营业收入为1139.74亿元，合计的扣非归母净利润为94.28亿元，合计的剔除长期 资产减值损失影响后的扣非归母净利润为105.70亿元，对应整体交易对价1286.71亿元。考虑评估基准日 后国家能源集团对其中一家公司增资49.27亿元事项，调整后最终整体交易对价为1335.98亿元。 通过本次交易，中国神华的煤炭保有资源量将提升至684.9亿吨，增长率达64.72%；煤炭可采储量将提 升至345亿吨，增长率达97.71%；煤炭产量将提升至5.12亿吨，增长率达56.57%；中国神华2024年扣除 非经常性损益 ...

Group 1 - The core viewpoint of the news is the performance and characteristics of the Guangfa CSI National New Hong Kong Stock Connect Central Enterprise Dividend ETF (520900), which has seen a decrease in shares but an increase in scale this year [1][2]. - As of February 12, 2025, the ETF had a total of 1.834 billion shares and a scale of 2.038 billion yuan, reflecting a 2.16% decrease in shares and a 4.83% increase in scale compared to the end of 2024 [1]. - The ETF's management fee is 0.50% annually, and the custody fee is 0.10% annually, with its performance benchmark being the yield of the CSI National New Hong Kong Stock Connect Central Enterprise Dividend Index [1]. Group 2 - The current fund managers are Huo Huaming and Lü Xin, with Huo managing since June 26, 2024, achieving a return of 11.32%, while Lü has managed since April 30, 2025, with a return of 25.23% [2]. - The ETF's top holdings include China National Offshore Oil Corporation (10.05%), China Shenhua Energy (9.99%), and China Petroleum & Chemical Corporation (9.83%), among others, with significant market values [2][3]. - The ETF has seen a total trading volume of 1.926 billion yuan over the last 20 trading days, averaging 96.28 million yuan per day [1].

Core Viewpoint - The Huabao S&P Hong Kong Stock Connect Low Volatility Dividend ETF (159220) has experienced a decline in both share count and total assets since the beginning of the year, indicating potential challenges in attracting investor interest [1]. Group 1: Fund Performance - As of February 12, 2025, the fund's latest share count is 444 million, with a total size of 287 million yuan, reflecting a decrease of 13.29% in shares and 6.82% in size compared to December 31, 2025 [1]. - The fund's management fee is set at 0.50% annually, while the custody fee is 0.10% annually [1]. Group 2: Trading Activity - The cumulative trading amount over the last 20 trading days reached 1.038 billion yuan, with an average daily trading amount of approximately 51.88 million yuan [1]. Group 3: Fund Management - The current fund managers are Yang Yang and Hu Yijiang, both of whom have managed the fund since its inception on April 29, 2025, achieving a return of 28.46% during their tenure [2]. Group 4: Top Holdings - The fund's top holdings include Jiangxi Copper Co. (4.48%), Far East Horizon (3.36%), China National Offshore Oil Corporation (3.11%), and China Shenhua Energy (3.07%), among others, with significant positions in various sectors [2][3].

证券代码：601088 证券简称：中国神华 公告编号：临 2026-014 中国神华能源股份有限公司 2026 年 1 月份主要运营数据公告 中国神华能源股份有限公司（"本公司"）董事会及全体董事保证本公告内 容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确 性和完整性承担法律责任。 | 运营指标 | 单位 | 2026 | 年 月 1 | 2025 | 年 月 1 | 同比变化 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | | (%) | | （一）煤炭 | | | | | | | | 1. 商品煤产量 | 百万吨 | | 27.4 | | 24.9 | 10.0 | | 煤炭销售量 2. | 百万吨 | | 33.2 | | 30.2 | 9.9 | | （二）运输 | | | | | | | | 自有铁路运输周转量 1. | 十亿吨公里 | | 25.7 | | 23.4 | 9.8 | | 黄骅港装船量 2. | 百万吨 | | 18.5 | | 15.3 | 20.9 | | 天津煤码头装船量 3. | 百万 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：601088 证券简称：中国神华 公告编号：临 2026-013 中国神华能源股份有限公司 关于清远二期 4 号机组通过 168 小时试运行的公告 近日，中国神华能源股份有限公司（"本公司"）持股 67%的控股子公司国 能清远发电有限责任公司（"清远电力"）二期扩建工程项目（"清远二期"） 4 号发电机组顺利通过 168 小时试运行，正式投入商业运营。至此，清远二期 2 台 100 万千瓦超超临界二次再热燃煤发电机组全部建成投运。 试运期间，机组运行平稳，环保指标优秀，实现大气污染物超低排放及废水 零排放。清远二期投运后，清远电力预计每年可提供约 200 亿千瓦时的清洁高效 电能，将有效缓解粤港澳大湾区电力保供压力，助力地方经济高质量发展。 宋静刚 2026 年 2 月 14 日 承中国神华能源股份有限公司董事会命 总会计师、董事会秘书 特此公告。 ...

格隆汇2月13日丨中国神华(601088.SH)公布，公司持股67%的控股子公司国能清远发电有限责任公司 （"清远电力"）二期扩建工程项目（"清远二期"）4号发电机组顺利通过168小时试运行，正式投入商业 运营。至此，清远二期2台100万千瓦超超临界二次再热燃煤发电机组全部建成投运。 试运期间，机组运行平稳，环保指标优秀，实现大气污染物超低排放及废水零排放。清远二期投运后， 清远电力预计每年可提供约200亿千瓦时的清洁高效电能，将有效缓解粤港澳大湾区电力保供压力，助 力地方经济高质量发展。 ...

试运期间，机组运行平稳，环保指标优秀，实现大气污染物超低排放及废水零排放。清远二期投运后， 清远电力预计每年可提供约200亿千瓦时的清洁高效电能，将有效缓解粤港澳大湾区电力保供压力，助 力地方经济高质量发展。 格隆汇2月13日丨中国神华(601088.SH)公布，公司持股67%的控股子公司国能清远发电有限责任公司 （"清远电力"）二期扩建工程项目（"清远二期"）4号发电机组顺利通过168小时试运行，正式投入商业 运营。至此，清远二期2台100万千瓦超超临界二次再热燃煤发电机组全部建成投运。 ...

试运期间，机组运行平稳，环保指标优秀，实现大气污染物超低排放及废水零排放。清远二期投运后， 清远电力预计每年可提供约200 亿千瓦时的清洁高效电能，将有效缓解粤港澳大湾区电力保供压力，助 力地方经济高质量发展。 智通财经APP讯，中国神华(01088)公布，近日，公司持股67%的控股子公司国能清远发电有限责任公司 ("清远电力")二期扩建工程项目("清远二期")4 号发电机组顺利通过 168 小时试运行，正式投入商业运 营。至此，清远二期2台 100 万千瓦超超临界二次再热燃煤发电机组全部建成投运。 ...