Core Viewpoint - China Post Life Insurance is undergoing a significant transformation in its investment strategy, focusing on direct equity investments, despite facing challenges in investment performance and profitability [1][8]. Investment Performance - In the first three quarters of 2025, China Post Life's comprehensive investment return rate was only 0.31%, significantly below the industry average of 6.10% [2][9]. - The third quarter saw a further decline in investment returns to -1.90%, making it the only bank-affiliated insurer with negative quarterly returns [2][10]. - The company has experienced consecutive investment net losses in 2023 and 2024, indicating a persistent issue with investment performance [2][10]. Business Scale and Profitability - China Post Life achieved insurance premium income of approximately 151.31 billion yuan in the first three quarters of 2025, a year-on-year increase of 17.66% [3][11]. - Despite being the second-largest non-listed life insurance company by net profit, the company reported a 15.57% decline in net profit to 9.129 billion yuan [3][11]. - The increase in operating costs and insufficient investment returns have contributed to a "revenue without profit" situation [3][11]. Solvency and Management Concerns - The company's solvency ratios have been under pressure, with core solvency adequacy ratio dropping to 92.53% in the third quarter of 2025, nearing regulatory limits [3][12]. - The high surrender rate of 21% for participating insurance policies and management issues have raised concerns about the company's operational capabilities [3][12]. Investment Strategy and Actions - In 2025, China Post Life has made four significant equity investments, focusing on high-dividend assets in sectors like transportation infrastructure and environmental protection [4][13]. - The latest investment involved acquiring a 5% stake in Sichuan Road and Bridge, with a total investment of approximately 3.89 billion yuan [4][13]. - The company aims to convert equity investments into long-term holdings to stabilize dividends and mitigate short-term market fluctuations [4][15].

| 证券代码：601330 | 证券简称：绿色动力 | 公告编号：临 2025-079 | | --- | --- | --- | | 转债代码：113054 | 转债简称：绿动转债 | | 绿色动力环保集团股份有限公司 关于"绿动转债"转股价格调整暨转股停复牌的公告 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。 重要内容提示： 证券停复牌情况：适用 因绿色动力环保集团股份有限公司（以下简称"公司"）A 股限制性股票激励 计划（以下简称"本激励计划"）首次与预留部分（第一批）授予的限制性股票登 记完成，增发新股 3,713 万股,引发"绿动转债"转股价格调整，本公司的相关证 券停复牌情况如下： 因公司实施 2021 年年度权益分派，"绿动转债"转股价格自 2022 年 7 月 21 日调整为 9.72 元/股；因公司实施 2022 年年度权益分派，"绿动转债"转股价格 自 2023 年 7 月 26 日调整为 9.60 元/股；因公司实施 2023 年年度权益分派，"绿 动转债"转股价格自 2024 年 6 月 26 日调整 ...

| 证券代码：601330 | 证券简称：绿色动力 | 公告编号：临 | 2025-078 | | --- | --- | --- | --- | | 转债代码：113054 | 转债简称：绿动转债 | | | 绿色动力环保集团股份有限公司 关于 A 股限制性股票激励计划 首次与预留部分（第一批）授予结果的公告 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。 重要内容提示： | 限制性股票登记日 | 2025年12月23日 | | --- | --- | | 限制性股票登记数量 | 37,130,000股 | 一、股权激励计划前期基本情况 绿色动力环保集团股份有限公司（以下简称"公司"）A 股限制性股票激励 计划（以下简称"本激励计划"）方式为限制性股票，股份来源为公司向激励对 象定向发行公司 A 股普通股，拟授予的权益数量为 4,035 万股，占公司总股本比 例为2.90%。其中，首次授予的权益数量为3,825万股，占公司总股本比例为2.74%； 预留授予的权益数量为 210 万股，占公司总股本比例为 0.15%。具体内容详 ...

绿色动力公告称，因A股限制性股票激励计划首次与预留部分（第一批）授予的限制性股票登记完成， 增发新股3713万股，"绿动转债"转股价格将调整。调整前为9.05元/股，调整后为8.89元/股，调整实施日 期为2025年12月26日。"绿动转债"将于2025年12月25日全天停牌，停止转股，26日起恢复转股。该转债 发行总额23.6亿元，初始转股价格为9.82元/股。 ...

Core Insights - The overall shareholding ratio of southbound funds in Hong Kong Stock Connect stocks is 19.37%, with 250 stocks having a shareholding ratio exceeding 20% [1] - Southbound funds hold a total of 4,927.94 million shares, accounting for 19.37% of the total share capital of the stocks, with a market value of 61,492.48 billion HKD, representing 14.62% of the total market value [1] - The stocks with the highest shareholding ratios by southbound funds are China Telecom (71.99%), Gree Power (70.09%), and China Resources Power (68.82%) [1] Group 1: Shareholding Distribution - 250 stocks have a shareholding ratio of over 20%, 128 stocks have a ratio between 10% and 20%, 94 stocks between 5% and 10%, 82 stocks between 1% and 5%, and 25 stocks below 1% [1] - Among the stocks with over 20% shareholding by southbound funds, 128 are AH concept stocks, making up 51.20% of that group [1] Group 2: Industry Concentration - The stocks with over 20% shareholding by southbound funds are primarily concentrated in the healthcare, industrial, and financial sectors, with 57, 36, and 34 stocks respectively [2] - The top stocks by shareholding ratio include: - China Telecom: 999,044.23 thousand shares, 71.99% of issued shares, closing price 5.550 HKD, daily change -0.18% [2] - Gree Power: 28,345.30 thousand shares, 70.09%, closing price 5.310 HKD, daily change +1.34% [2] - China Resources Power: 36,728.40 thousand shares, 68.82%, closing price 3.370 HKD, daily change -3.44% [2]

智通财经APP获悉，根据2025年12月23日披露数据，中国电信（00728）、绿色动力环保（01330）、大 眾公用（01635）位居港股通持股比例前3位，分别为71.99%、70.09%、68.82%。此外，小米集团－Ｗ （01810）、腾讯控股（00700）、阿里巴巴－W（09988）在最近有统计数据的5个交易日内，持股额增 幅最大，分别为+20.16亿元、+16.55亿元、+14.46亿元;中国移动（00941）、盈富基金（02800）、中国 财险（02328）在最近有统计数据的5个交易日内，持股额减幅最大，分别为-27.51亿元、-13.48亿 元、-6.40亿元。 具体数据如下（交易所数据根据T+2日结算）： 1、港股通最新持股比例排行（前20名） | 公司名称 | 持股数量 | 最新持股比例 | | --- | --- | --- | | 中国电信(00728) | 99.90亿股 | 71.99% | | 绿色动力环保(01330) | 2.83亿股 | 70.09% | | 大眾公用(01635) | 3.67亿股 | 68.82% | | 凯盛新能(01108) | 1.70亿股 | 67 ...

Group 1 - The core viewpoint of the article is that the company, Green Power, is expanding its steam supply business, which is expected to enhance the overall gross margin of its waste-to-energy projects [1] - By the third quarter of 2025, the steam supply revenue is projected to account for approximately 5% of the company's total operating income [1]

格隆汇12月23日丨绿色动力(601330.SH)在投资者互动平台表示，公司目前供汽业务主要分布浙江、江 苏、山东、广东以及安徽。 ...

格隆汇12月23日丨绿色动力(601330.SH)在投资者互动平台表示，公司目前供汽业务主要分布浙江、江 苏、山东、广东以及安徽。 ...

Core Insights - The overall shareholding ratio of southbound funds in Hong Kong Stock Connect stocks is 19.35%, with 248 stocks having a shareholding ratio exceeding 20% [1] - Southbound funds hold a total of 4,922.61 million shares, accounting for 19.35% of the total share capital of the stocks, with a market value of 61,260.73 billion HKD, representing 14.61% of the total market value [1] Group 1: Shareholding Distribution - 248 stocks have a shareholding ratio of over 20%, 128 stocks between 10% and 20%, 96 stocks between 5% and 10%, 80 stocks between 1% and 5%, and 27 stocks below 1% [1] - The stock with the highest southbound fund shareholding is China Telecom, holding 10,007.11 million shares, which is 72.10% of the issued shares [2] - Other notable stocks include Green Power Environmental (70.23%) and China Resources Power (68.80%) [2] Group 2: Industry Concentration - Southbound funds with a shareholding ratio exceeding 20% are primarily concentrated in the healthcare, industrial, and financial sectors, with 56, 36, and 34 stocks respectively [2] - The majority of stocks with high southbound fund holdings are AH concept stocks, with 129 out of 248 stocks (52.02%) having a shareholding ratio over 20% [1] Group 3: Notable Stocks and Performance - Key stocks with high southbound fund holdings include: - China Telecom: 10,007.11 million shares, 72.10% [2] - Green Power Environmental: 28,403.90 million shares, 70.23% [2] - China Shenhua: 224,310.90 million shares, 66.41% [2] - Other significant stocks include: - Fosun Pharma: 31,757.00 million shares, 57.53% [3] - Longi Green Energy: 14,007.74 million shares, 56.00% [3]