Core Viewpoint - The announcement indicates that the controlling shareholder, Shanghai Volkswagen Enterprise Management Co., Ltd., has released a pledge of 60 million A-shares, while still holding a total of 1.8 billion A-shares pledged, which represents 33.44% of their total holdings [1] Group 1 - The controlling shareholder holds a total of 538,321,859 shares, comprising 495 million A-shares and 43.178 million H-shares, accounting for 18.23% of the company's total share capital [1] - After the release of the pledge, the total number of pledged shares by the controlling shareholder is 180 million A-shares [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之任何損失承擔任何責任。 上海大眾公用事業（集團）股份有限公司 Shanghai Dazhong Public Utilities (Group) Co., Ltd.* （於中華人民共和國註冊成立的股份有限公司） （股份代號：1635） 海外監管公告 關於控股股東部分股份解除質押的公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 | 证券代码：600635 | 证券简称： | 大众公用 | | | 编号：临2025-037 | | --- | --- | --- | --- | --- | --- | | 债券代码：138999 | 债券简称： | 23 | 公用 | 01 | | | 债券代码：240539 | 债券简称： | 24 | 公用 | 01 | | 上海大众公用事业（集团）股份有限公司 下 文 載 列 上 海 大 眾 公 用 事 業 （ 集 團 ） 股 份 有 限 公 司 在 上 海 ...

Group 1 - The core point of the article is that Shanghai Dazhong Enterprise Management Co., the controlling shareholder of Dazhong Public Utilities, has released a pledge on 60 million A-shares, reducing the total pledged shares to 1.8 billion A-shares, which is 33.44% of their holdings [1][1][1] - As of the announcement, Dazhong Public Utilities has a market capitalization of 24.4 billion yuan [1][1][1] Group 2 - The revenue composition for Dazhong Public Utilities for the first half of 2025 is as follows: gas sales account for 88.56%, wastewater treatment for 4.11%, other businesses for 2.13%, construction for 1.77%, and transportation for 1.72% [1][1][1]

| 证券代码：600635 | 证券简称： | 大众公用 | | | 编号：临2025-037 | | --- | --- | --- | --- | --- | --- | | 债券代码：138999 | 债券简称： | 23 | 公用 | 01 | | | 债券代码：240539 | 债券简称： | 24 | 公用 | 01 | | 一、上市公司股份解除质押 | 1. | | --- | | 股份被解除质押 | | 股东名称 | | 上海大众企业管理有限公司 | | --- | --- | --- | | 本次解除质押股份 | 6,000 万股 | A 股 | | 占其所持股份比例 | 11.15% | | | 占公司总股本比例 | 2.03% | | | 解除质押时间 | 2025 年 | 11 月 26 日 | | 持股数量 | 538,321,859 | 股 | | 持股比例 | 18.23% | | | 剩余被质押/冻结/标记股份数量 | 18,000 | 万股 | | 剩余被质押股份数量占其所持股份比例 | 33.44% | | | 剩余被质押股份数量占公司总股本比例 | 6.10% | | 本 ...

大众公用公告称，公司控股股东大众企管持有公司股份538,321,859股，占总股本18.23%。2025年11月 26日，大众企管6000万股A股股份解除质押，占其所持股份比例11.15%，占公司总股本比例2.03%。本 次解除质押完成后，大众企管累计质押公司18,000万股A股股份，占其持股数量33.44%，占公司总股本 6.10%。大众企管将根据资金需求确定后续是否继续质押，公司将及时披露。 ...

Core Insights - The article highlights the top and bottom AH premium rates for various stocks as of November 27, with Northeast Electric (00042) leading with a premium rate of 864.29% [1] - The article also lists the stocks with the highest and lowest deviation values, indicating significant discrepancies between A-shares and H-shares [1] AH Premium Rate Rankings - The top three stocks with the highest AH premium rates are: - Northeast Electric (00042): 864.29% - Hongye Futures (03678): 269.82% - Sinopec Oilfield Service (01033): 264.86% [1] - The bottom three stocks with the lowest AH premium rates are: - Ningde Times (03750): -5.40% - China Merchants Bank (03968): -1.65% - Heng Rui Medicine (01276): -0.38% [1] Deviation Value Rankings - The stocks with the highest deviation values are: - Vanke Enterprises (02202): 30.48% - Dazhong Public Utilities (01635): 24.57% - Shandong Xinhua Pharmaceutical (00719): 22.88% [1] - The stocks with the lowest deviation values are: - Sairis (09927): -17.06% - China National Airlines (00753): -13.21% - China Life (02628): -13.18% [1] Additional Insights - The article provides detailed tables showing the premium rates and deviation values for the top and bottom AH stocks, indicating market trends and potential investment opportunities [2]

Core Insights - The top three companies by Hong Kong Stock Connect shareholding ratios are China Telecom (72.63%), Power Assets Holdings (70.19%), and GCL-Poly Energy Holdings (69.17%) [1] - The companies with the largest increase in shareholding amounts over the last five trading days are Universal Gold Group (+12.088 billion), Alibaba Group Holding Limited (+6.346 billion), and Tencent Holdings (+3.004 billion) [1][2] - The companies with the largest decrease in shareholding amounts over the last five trading days are SMIC (-1.278 billion), Ganfeng Lithium (-0.558 billion), and Innovent Biologics (-0.518 billion) [2] Hong Kong Stock Connect Shareholding Ratios - China Telecom (00728): 10.081 billion shares, 72.63% [1] - Power Assets Holdings (01635): 0.375 billion shares, 70.19% [1] - GCL-Poly Energy Holdings (01330): 0.280 billion shares, 69.17% [1] - Other notable companies include: - Hengtian International Investment (01341): 74.74 billion shares, 68.90% [1] - China Shenhua Energy (01088): 2.276 billion shares, 67.38% [1] Recent Increases in Shareholding - Universal Gold Group (03939): +12.088 billion, +37.96584 million shares [2] - Alibaba Group Holding Limited (09988): +6.346 billion, +4.09920 million shares [2] - Tencent Holdings (00700): +3.004 billion, +0.48492 million shares [2] - Other companies with significant increases include: - Yinhua Fund (02800): +2.182 billion, +8.36760 million shares [2] - Kuaishou Technology (01024): +1.750 billion, +2.54847 million shares [2] Recent Decreases in Shareholding - SMIC (00981): -1.278 billion, -1.85636 million shares [2] - Ganfeng Lithium (01772): -0.558 billion, -1.13178 million shares [2] - Innovent Biologics (01801): -0.518 billion, -0.54621 million shares [2] - Other companies with notable decreases include: - WuXi Biologics (02269): -0.513 billion, -1.60715 million shares [2] - New China Life Insurance (01336): -0.435 billion, -0.92361 million shares [2]

Core Viewpoint - The stock of Shanghai Dazhong Public Utilities (Group) Co., Ltd. has shown significant growth this year, with a year-to-date increase of 77.16% and a recent surge of 16.37% over the past five trading days [1][2]. Financial Performance - For the period from January to September 2025, the company reported a revenue of 4.659 billion yuan, a year-on-year decrease of 2.71%, while the net profit attributable to shareholders increased by 205.14% to 520 million yuan [2]. - Cumulatively, the company has distributed 2.543 billion yuan in dividends since its A-share listing, with 298 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders increased by 39.14% to 201,800, with an average of 0 circulating shares per shareholder [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited and Southern CSI 1000 ETF, with both showing a decrease in holdings compared to the previous period [3]. Market Activity - The stock price reached 7.82 yuan per share with a trading volume of 1.541 billion yuan and a turnover rate of 8.37% [1]. - The stock has appeared on the daily trading leaderboard eight times this year, with the most recent net purchase of 67.793 million yuan on November 25 [1].

Core Insights - The overall shareholding ratio of southbound funds in Hong Kong Stock Connect stocks is 19.38%, with 244 stocks having a shareholding ratio exceeding 20% [1] - Southbound funds hold a total of 4,906.07 million shares, accounting for 19.38% of the total share capital of the stocks, with a market value of 62,084.99 million HKD, representing 14.67% of the total market value [1] Group 1: Shareholding Distribution - 244 stocks have a shareholding ratio of over 20%, 131 stocks between 10% and 20%, 89 stocks between 5% and 10%, 85 stocks between 1% and 5%, and 21 stocks below 1% [1] - The stock with the highest shareholding ratio by southbound funds is China Telecom, holding 100.83 million shares, which is 72.65% of the issued shares [2] - Other notable stocks include Dazhong Public Utilities and China Green Power, with shareholding ratios of 70.66% and 69.50% respectively [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, 37, and 34 stocks respectively [2] - The healthcare sector shows significant representation among high-shareholding stocks, with companies like Kanglong Chemical and Fosun Pharma having shareholding ratios of 57.71% and 57.15% respectively [3] - The industrial sector also features prominently, with companies like China Shenhua and Tianjin Chuangye Environmental holding 67.41% and 66.30% respectively [2][3]

Core Insights - The report highlights significant changes in the Hong Kong Stock Connect holdings, with notable increases and decreases in ownership percentages for various companies. Group 1: Increased Holdings - The companies with the largest increases in Hong Kong Stock Connect holdings include: - 大眾公用 (01635) with an increase of 1.25%, bringing the total holding to 70.66% [1][2] - 三花智控 (02050) with an increase of 0.87%, resulting in a holding of 20.55% [1][2] - 广和通 (00638) with an increase of 0.82%, leading to a holding of 3.18% [1][2] - In the last five trading days, 国富氢能 (02582) saw the largest increase of 7.76%, with a new holding of 16.69% [3] - Other notable increases include 龙蟠科技 (02465) at 3.80% and 长飞光纤光缆 (06869) at 2.71% [3] Group 2: Decreased Holdings - The companies with the largest decreases in Hong Kong Stock Connect holdings include: - 万国黄金集团 (03939) with a decrease of 8.53%, now holding 2.84% [1][2] - 恆生中国企业 (02828) with a decrease of 3.60%, resulting in a holding of 3.37% [1][2] - 盈富基金 (02800) with a decrease of 3.54%, leading to a holding of 3.55% [1][2] - In the last five trading days, 万国黄金集团 (03939) also experienced a significant decrease of 8.29% [3] - Other notable decreases include 丘鈦科技 (01478) at -2.27% and 康龙化成 (03759) at -2.18% [3]