Major Events - Dongpeng Beverage (09980) will conduct its IPO from January 26 to January 29, with an expected listing date of February 3 [1] - Zijin Mining (02899) plans to acquire 100% of Allied Gold Corporation for approximately CAD 5.5 billion [2] - AsiaInfo Technologies (01675) collaborates with ABB Robotics to establish an "Embodied Intelligence Laboratory" [3] - Dongyang Sunshine Pharmaceutical (06887) signs a strategic cooperation agreement with Shenzhen Jingtai to form a joint venture for an AI-driven drug research platform [4] - Howie Group (00501) intends to invest up to USD 50 million to subscribe for shares in Aixin Yuanzhi's initial public offering [5] - Singularity Guofeng (01280) enters a GPU distribution cooperation agreement with Muxi Co., aiming to penetrate the domestic AI computing power market [6] - Guorui Life (00108) signs a strategic cooperation memorandum with Mingzhi Medical to promote deep integration and industrial upgrading of "medical + technology + scenarios" [7] Financial Reports - Harbin Electric (01133) anticipates a net profit attributable to shareholders of approximately CNY 2.65 billion for 2025 [8] - Joyson Electronics (00699) expects an annual net profit of about CNY 1.35 billion, representing a year-on-year growth of approximately 40.56% [9] - Guotai Junan International (01788) projects an annual net profit between HKD 1.28 billion and HKD 1.38 billion, a significant increase of 265% to 293% year-on-year [10] - Tianyue Advanced (02631) forecasts annual revenue of CNY 1.45 billion to CNY 1.5 billion [11] - China Power (02380) estimates a consolidated total electricity sales volume of approximately 126 million megawatt-hours for 2025 [12] - Chalco International (02068) expects a total new contract amount of CNY 46.836 billion for 2025, a year-on-year increase of 51.94% [13]

Company News - China Power (02380.HK) expects a total consolidated electricity sales volume of 10.73105 million MWh by December 2025, a decrease of 2.31% year-on-year; the total annual electricity sales volume is approximately 126 million MWh, down 1.27% year-on-year [2] - Harbin Electric (01133.HK) anticipates a net profit attributable to shareholders of approximately RMB 2.65 billion for the fiscal year 2025, compared to RMB 1.686 billion in the previous year, mainly due to increased operating revenue and improved product profitability [2] - Singularity Guofeng (01280.HK) has entered into a GPU distribution cooperation agreement with Muxi Co., aiming to enter the domestic AI computing power market [2] - Dongyang Sunshine Pharmaceutical (06887.HK) has signed a strategic cooperation agreement with Shenzhen Jingtai to establish a joint venture for building an AI-driven drug research and development platform [2] - Weisheng Pharmaceutical-B (02561.HK) has received approval from the National Medical Products Administration for the marketing authorization application of injectable Long Pei growth hormone [2] - Kintor Pharmaceutical-B (02171.HK) issued a profit warning, expecting a net loss for 2025 to be reduced to no more than approximately RMB 120 million [2] - Zhaoke Ophthalmology-B (06622.HK) is advancing the commercialization process of BRIMOCHOL PF for treating presbyopia in Singapore and Vietnam through partnerships with AFT and Qianshou [2] Additional Company Developments - Heng Rui Medicine (01276.HK) has received a clinical trial approval notice for SHR-1049 injection [3] - Baolong Real Estate (01238.HK) has had its bond restructuring plan approved by the relevant bondholders' meeting [3] Strategic Partnerships - Yabo Technology Holdings (08279.HK) has entered into a technical service agreement with Hong Kong Gold Exchange Limited [4] - Future Data Group (08229.HK) has signed a strategic cooperation framework agreement with Linghe Culture [4] - Howey Group (00501.HK) plans to invest up to USD 50 million to subscribe for shares in Aixin Yuanzhi's initial public offering [4] Buyback Activities - Xiaomi Group-W (01810.HK) repurchased 3.9872 million shares for HKD 140 million, with a repurchase price ranging from HKD 35.04 to HKD 35.22 [5] - China Metallurgical Group (01618.HK) repurchased 9.011 million shares for HKD 16.9299 million, with a repurchase price of HKD 1.87 to HKD 1.88 [5] - Geely Automobile (00175.HK) repurchased 4.401 million shares for HKD 72.952 million, with a repurchase price ranging from HKD 16.43 to HKD 16.65 [6] - Reshape Energy (02570.HK) completed the placement of a total of 4.536 million placement shares, raising approximately HKD 258 million [6] - Kintor Pharmaceutical-B (09939.HK) saw an increase of 4.7 million shares by Chairman Tong Youzhi [6]

哈尔滨电气(01133)公布，预期该公司2025财政年度取得归属于母公司所有者的净利润约人民币26.5亿元 (上年同期取得约人民币16.86亿元)，较上年同期大幅提升。主要原因是公司2025财政年度营业收入较去 年同期有所增长，产品盈利能力进一步提高。 ...

智通财经APP讯，哈尔滨电气(01133)公布，预期该公司2025财政年度取得归属于母公司所有者的净利润 约人民币26.5亿元(上年同期取得约人民币16.86亿元)，较上年同期大幅提升。主要原因是公司2025财政 年度营业收入较去年同期有所增长，产品盈利能力进一步提高。 ...

格隆汇1月26日丨哈尔滨电气(01133.HK)公告，根据对公司目前可得的资料(包括但不限于公司截至2025 年12月31日止年度(「2025财政年度」)的未经审核管理账目)的初步评估，预期公司2025财政年度录得归 属于母公司所有者的净利润约人民币26.5亿元(上年同期录得约人民币16.86亿元)，较上年同期大幅提 升。主要原因是公司2025财政年度营业收入较去年同期有所增长，产品盈利能力进一步提高。 ...

（於中華人民共和國註冊成立的股份有限公司） （股份代號：1133） 內幕消息 正面盈利預告 本 公 告 乃 由 哈 爾 濱 電 氣 股 份 有 限 公 司（「本公司」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第13.09條及香港法例第571章《證 券 及 期 貨 條 例》第XIVA部 項 下 的 內 幕 消 息 條 文（定 義 見 上 市 規 則）而 作 出。 本 公 司 董 事 會（「董事會」）欣 然 知 會 本 公 司 股 東（「股 東」）及 潛 在 投 資 者， 根 據 對 本 公 司 目 前 可 得 的 資 料（包 括 但 不 限 於 本 公 司 截 至 二 零 二 五 年 十 二 月 三 十 一 日 止 年 度（「二零二五財政年度」）的 未 經 審 核 管 理 賬 目）的 初 步 評 估，預 期 本 公 司 二 零 二 五 財 政 年 度 錄 得 歸 屬 於 母 公 司 所 有 者 的 淨利潤約人民幣26.5億 元（上 年 同 期 錄 得 約 人 民 幣16.86億 元），較 上 年 同 期 大 幅 提 升。主 要 原 因 是 本 公 司 二 零 二 ...

Investment Rating - The report maintains a positive outlook on the power and gas sectors, indicating a favorable investment environment for renewable energy and gas companies [2][3]. Core Insights - The report highlights a slight increase in overall power generation in 2025, primarily driven by wind and solar energy contributions, while traditional coal power generation shows a decline [8][9]. - The extreme cold weather in the U.S. has led to a significant spike in natural gas prices due to increased demand and supply constraints [18][22]. - The report suggests various investment opportunities across different segments of the energy sector, including coal power, hydropower, nuclear power, renewable energy, and gas companies [18][43]. Summary by Sections 1. Power Generation - In December 2025, total power generation was 858.6 billion kWh, a year-on-year increase of 0.1%. Coal power generation decreased by 3.2%, while renewable sources like wind and solar saw significant growth [10][11]. - For the entire year of 2025, total power generation reached 9715.9 billion kWh, up 2.2% from the previous year, with coal power down by 1.0% and solar power up by 24.4% [15][19]. 2. Natural Gas - As of January 23, 2026, the Henry Hub spot price surged to $30.72/mmBtu, reflecting a week-on-week increase of 903.53%. European gas prices also rose significantly due to low inventory levels and increased demand [20][28]. - The report notes that the extreme cold weather has tightened supply and demand dynamics, leading to higher global gas prices, particularly in Europe and Northeast Asia [22][37]. 3. Investment Recommendations - For coal power, companies like Guodian Power and Inner Mongolia Huadian are recommended due to their integrated coal and power operations [18]. - Hydropower companies such as Yangtze Power and State Power Investment Corporation are favored due to favorable conditions for energy storage and reduced capital expenditures [19]. - Nuclear power companies like China National Nuclear Power and China General Nuclear Power are highlighted for their stable cost structures and growth potential [18]. - Renewable energy operators such as Xinte Energy and Longyuan Power are recommended as new market rules enhance the stability of returns [18]. - Gas companies like Kunlun Energy and New Hope Liuhe are suggested for their potential recovery in profitability due to cost reductions and improved pricing mechanisms [43].

Core Viewpoint - The article discusses the disciplinary investigation of Yang Hongyong, former member of the Party Committee and Secretary of the Discipline Inspection Commission of Harbin Electric Group, highlighting the company's support for the central government's anti-corruption efforts and the importance of maintaining political integrity within the organization [2][5][6]. Group 1 - Harbin Electric Group acknowledges the decision of the Central Commission for Discipline Inspection and the National Supervisory Commission regarding Yang Hongyong's serious violations of discipline and law, emphasizing their commitment to the central government's directives [2][3]. - The company's leadership convened a special meeting to study the important speech by General Secretary Xi Jinping at the Fifth Plenary Session of the 20th Central Commission for Discipline Inspection, reinforcing their stance on strict governance and self-reform [5][6]. - The meeting underscored the necessity of aligning thoughts and actions with the central government's decisions, promoting a culture of integrity and accountability within the organization [5][6]. Group 2 - The company aims to deepen the implementation of strict party governance, emphasizing the importance of political loyalty and the need for a clean and transparent working environment [6]. - There is a strong focus on enhancing party character and maintaining a correct view of power, performance, and career, ensuring that all members adhere to high ethical standards [6]. - The leadership is committed to creating a positive political ecology to support the goal of building a world-class equipment manufacturing enterprise [6].

1月24日，中央纪委国家监委网站通报称：哈尔滨电气集团有限公司原党委常委、纪委书记，国家监委 原驻哈尔滨电气集团有限公司监察专员杨宏勇涉嫌严重违纪违法，主动投案，目前正接受中央纪委国家 监委纪律审查和监察调查。 他曾任中央纪委、中央组织部巡视工作办公室副局级纪律检查员、监察专员，正局级纪律检查员、监察 专员，中央巡视工作领导小组办公室正局级纪律检查员、监察专员，中央巡视组正局级巡视专员等职， 于2018年任哈尔滨电气集团有限公司党委常委、纪委书记，后同时担任国家监委驻哈尔滨电气集团有限 公司监察专员。 2024年10月26日，哈尔滨电气集团有限公司召开领导班子（扩大）会议，通报了中央组织部有关决定， 免去杨宏勇同志的哈尔滨电气集团有限公司党委常委、纪委书记职务，退休。 随着杨宏勇此番落马，2026年以来中央纪委国家监委网站公开通报审查调查的中管干部已有5人。 智通财经记者 蒋子文 公开资料显示，杨宏勇，男，汉族，1962年9月生，陕西汉中人，1979年9月参加工作，1986年6月加入 中国共产党，研究生学历，军事学硕士学位。 ...

新华财经北京1月24日电哈尔滨电气集团有限公司原党委常委、纪委书记，国家监委原驻哈尔滨电气集 团有限公司监察专员杨宏勇涉嫌严重违纪违法，主动投案，目前正接受中央纪委国家监委纪律审查和监 察调查。 （文章来源：新华社） ...