Core Viewpoint - The report highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies, which may signal potential investment opportunities or shifts in market sentiment. Group 1: Increased Holdings - Shandong Molong (00568) saw the largest increase in Hong Kong Stock Connect holdings, rising by 3.41% to a total holding of 58.38% [2] - ZTE Corporation (00763) experienced a 2.52% increase, bringing its holding to 54.86% [2] - Lens Technology (06613) increased by 2.22%, with a current holding of 11.01% [2] - Other notable increases include Southern Hang Seng Technology (03033) at +2.08% (60.66%) and Beijing Jingcheng Machinery Electric Company (00187) at +1.35% (49.54%) [2] Group 2: Decreased Holdings - Hang Seng China Enterprises (02828) had the largest decrease, down by 2.31% to 1.02% [2] - The Tracker Fund of Hong Kong (02800) decreased by 0.74%, now holding 1.87% [2] - Li Jin Technology (00558) saw a reduction of 0.69%, with a holding of 14.36% [2] - Other significant decreases include Ping An Good Doctor (01833) at -0.65% (19.25%) and Beijing North Star Company (00588) at -0.59% (41.42%) [2] Group 3: Five-Day Changes - Over the last five trading days, ZTE Corporation (00763) had the highest increase in holdings at +7.26% (54.86%) [3] - Longpan Technology (02465) increased by 6.03% to 51.76% [3] - Tongyuan Kang Pharmaceutical-B (02410) rose by 5.38%, now at 14.68% [3] - Significant decreases included Dongyang Sunshine Pharmaceutical (06887) at -3.85% (44.05%) and Zhejiang Shibao (01057) at -2.73% (55.74%) [3] Group 4: Twenty-Day Changes - Longfei Optical Fiber and Cable (06869) had the largest increase over twenty days at +22.04% (56.07%) [4] - Meizhong Jiahe (02453) increased by 12.55% to 37.75% [4] - Other notable increases include Yimai Sunshine (02522) at +11.66% (40.40%) and Kanglong Chemical (03759) at +9.51% (59.33%) [4] - Decreases over twenty days included Chongqing Steel (01053) at -5.91% (32.47%) and Dongfang Electric (01072) at -5.60% (37.80%) [4]

Group 1 - The State Intellectual Property Office of China has granted a patent for a system and method for ion exchange purification of phosphoric acid post-treatment to Sinopec Nanjing Engineering Co., Ltd. and Sinopec Refining Engineering Group Co., Ltd. The patent number is CN116899258B, with an application date of June 2023 [1] - Sinopec Nanjing Engineering Co., Ltd. was established in 1986 and is primarily engaged in the construction and installation industry. The company has a registered capital of 5,560.05 million RMB and has participated in 5,000 bidding projects, holds 817 patents, and has 65 administrative licenses [1] - Sinopec Refining Engineering Group Co., Ltd. was founded in 2007 and focuses on water management. The company has a registered capital of 44,185.435 million RMB, has invested in 12 enterprises, participated in 63 bidding projects, holds 5,000 patents, and has 4 administrative licenses [1]

Core Insights - The company reported 1H25 results that met expectations, with revenue of 31.6 billion yuan, a 10% year-on-year increase, and a net profit of 1.39 billion yuan, up 5% year-on-year [1][2] - The company achieved a significant increase in new orders, with a 42% year-on-year growth, reaching 71.2 billion yuan, marking a historical high for the same period [1][2] Financial Performance - Revenue for 1H25 was 31.6 billion yuan, with a net profit of 1.39 billion yuan, resulting in an earnings per share of 0.32 yuan, aligning with expectations [1] - Operating cash flow turned positive at 3.3 billion yuan, while financial income decreased by 130 million yuan due to declining interest rates [1] - Gross margin decreased to 8.2%, down 0.4 percentage points, primarily due to underperformance in the construction segment [1] Development Trends - New signed orders reached 71.2 billion yuan, with domestic orders at 40.2 billion yuan and overseas orders at 4.3 billion USD, achieving 64% and 86% of the annual targets respectively [1] - Major new contracts include significant projects with Sinopec and international contracts in Kazakhstan and Algeria [1] EPC Segment Performance - The EPC segment maintained a stable gross margin of 7.5%, with operating profit margin increasing by 1 percentage point to 4.1%, contributing 57% of operating profit [2] - EPC orders accounted for 76% of new signed orders, indicating a strong contribution to high-quality revenue [2] International Business Growth - International revenue increased by 92% year-on-year to 7.4 billion yuan, now representing 23.5% of total revenue, with new overseas contracts exceeding 40% [2] - Collaborations with international leaders are expected to enhance the company's ability to secure high-value overseas projects [2] Profit Forecast and Valuation - The net profit forecast for 2025 has been reduced by 8.5% to 2.64 billion yuan, while the 2026 profit forecast remains largely unchanged [2] - The target price has been adjusted upward by 8.2% to 6.6 HKD, reflecting a valuation of 8.3x P/E for 2026, indicating a potential upside of 6.8% from the current stock price [2]

Group 1 - The State Intellectual Property Office of China granted a patent for a "glass plate liquid level gauge and liquid level measurement method" to China Petroleum & Chemical Corporation, Sinopec Guangzhou Engineering Co., Ltd., and Sinopec Refining Engineering Group Co., Ltd. The patent was applied for on August 2021 [1] - China Petroleum & Chemical Corporation, established in 2000, is primarily engaged in oil and gas extraction, with a registered capital of 12,173,968.9893 thousand RMB. The company has invested in 263 enterprises and participated in 5,000 bidding projects, holding 45 trademark records and 5,000 patent records [1] - Sinopec Guangzhou Engineering Co., Ltd., founded in 1998, focuses on professional technical services, with a registered capital of 30,000 thousand RMB. The company has invested in 2 enterprises and participated in 4,290 bidding projects, holding 4 trademark records and 863 patent records [1] Group 2 - Sinopec Refining Engineering Group Co., Ltd., established in 2007, is primarily engaged in water management, with a registered capital of 441,854.35 thousand RMB. The company has invested in 12 enterprises and participated in 63 bidding projects, holding 5,000 patent records [2]

Core Insights - The company reported a revenue of 31.559 billion RMB, a year-on-year increase of 10.1%, and a net profit of 1.388 billion RMB, up 4.8% year-on-year [1] Group 1: Order Structure Optimization - The company signed new contracts for major projects, achieving a historical high in new contract value of 71.158 billion RMB, a year-on-year increase of 42.1% [2] - The proportion of new contracts in front-end, design, and EPC categories reached 80%, indicating a solid foundation for high-quality growth [2] - Overseas orders saw significant growth, with new contract value reaching 4.3 billion USD, a year-on-year increase of 82.7%, accounting for 43.5% of total new contracts [2] - Notable domestic contracts included the Maoming Ethylene project EPC contract worth approximately 11.631 billion RMB and the Luoyang Ethylene project contract worth approximately 3.291 billion RMB [2] - In emerging business areas, the company signed 197 new contracts with a total value of about 7 billion RMB, including 3.2 billion RMB from clean energy/new energy contracts [2] Group 2: Technological Innovation - The company emphasized project integration innovation and engineering transformation, increasing collaboration with institutions like the Chinese Academy of Sciences and Tsinghua University [3] - Research in artificial intelligence is ongoing, focusing on enhancing design efficiency and optimizing construction processes [3] - The company has made progress in areas such as process optimization, intelligent design review, and smart pipeline design [3] Group 3: Advanced Equipment Development - The company is advancing the development and application of automated welding robots and intelligent construction equipment, effectively reducing costs and improving efficiency [4] - A total of 86 high-efficiency construction equipment applications have been developed, along with guidelines for intelligent equipment applications [4] - The company has set ambitious market development targets of 63 billion RMB domestically and 5 billion USD internationally for the year [4]

Group 1 - Sinopec Engineering Group Co., Ltd. (SEG) is a major integrated engineering service provider and technology patent holder in the refining and chemical engineering market, controlled by China Petroleum & Chemical Corporation [1] - As of August 19, the stock price of Sinopec Engineering was HKD 6.790, up 1.34% from the previous trading day, with an intraday high of HKD 6.890, marking a nearly one-year high [1] - The company has a net inflow of HKD 2.0977 million in capital on the same day, with unspecified amounts of capital flowing in and out [1] Group 2 - The company went public globally in May 2013, issuing 1.328 billion H-shares at an initial price of HKD 10.5 per share, and was listed on the Hong Kong Stock Exchange on May 23, 2013 [2] - SEG holds various qualifications from national and international authorities, enabling it to provide comprehensive services in multiple fields including petroleum refining, petrochemicals, coal chemicals, natural gas chemicals, environmental engineering, and public works [2]

Group 1 - The core point of the news is that Sinopec Ningbo Engineering Co., Ltd., Sinopec Ningbo Technology Research Institute Co., Ltd., and Sinopec Refining Engineering (Group) Co., Ltd. have obtained a patent for a "Low-Carbon High-Temperature Gas-Cooled Reactor Ammonia Synthesis System and Method" [1][2][3] Group 2 - Sinopec Ningbo Engineering Co., Ltd. was established in 2003, located in Ningbo, with a registered capital of 500 million RMB. The company has made investments in 9 enterprises and participated in 5,000 bidding projects, holding 1,136 patents and 32 administrative licenses [1] - Sinopec Ningbo Technology Research Institute Co., Ltd. was established in 2006, also located in Ningbo, with a registered capital of 10 million RMB. The company has participated in 2 bidding projects, holds 1,068 patents, and has 4 administrative licenses [1] - Sinopec Refining Engineering (Group) Co., Ltd. was established in 2007, located in Beijing, with a registered capital of approximately 4.42 billion RMB. The company has invested in 12 enterprises, participated in 63 bidding projects, and holds 5,000 patents along with 4 administrative licenses [2]

Core Viewpoint - On August 18, nine Hong Kong-listed companies conducted share buybacks, totaling 2.4408 million shares and a buyback amount of 580 million HKD [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 931,000 shares for 550 million HKD, with a highest price of 595.500 HKD and a lowest price of 587.000 HKD, bringing its total buyback amount for the year to 40.593 billion HKD [1][2]. - Hang Seng Bank repurchased 200,000 shares for 22.5873 million HKD, with a highest price of 113.500 HKD and a lowest price of 112.600 HKD, totaling 27.35947 million HKD in buybacks for the year [1][2]. - Yuan Zheng Technology repurchased 368,500 shares for 4.34 million HKD, with a highest price of 11.940 HKD and a lowest price of 11.610 HKD, totaling 5.62937 million HKD in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on August 18 was from Tencent Holdings at 550 million HKD, followed by Hang Seng Bank at 22.5873 million HKD [1][2]. - In terms of buyback volume, Tencent Holdings led with 931,000 shares, followed by Yuan Zheng Technology with 368,500 shares and Mei Heng Industrial with 264,000 shares [1][2].

Core Insights - Multiple companies, including Tencent Holdings and China Hongqiao, conducted share buybacks on August 18, 2025, with Tencent leading in both volume and monetary value [1][2]. Group 1: Buyback Details - Tencent Holdings (00700) repurchased 931,000 shares for a total of 550 million [1][2]. - China Hongqiao (01378) repurchased 10,151,000 shares for a total of 234 million [2]. - Hang Seng Bank (00011) repurchased 200,000 shares for a total of 22.59 million [2]. - Yanzheng Technology (02488) repurchased 368,500 shares for a total of 4.34 million [2]. - Beisen Holdings (09669) repurchased 200,000 shares for a total of 1.64 million [2]. - Sinopec Engineering (02386) repurchased 136,500 shares for a total of 869,500 [2]. - International Home Retail (01373) repurchased 150,000 shares for a total of 132,000 [2]. - Meiheng Industrial (01897) repurchased 264,000 shares for a total of 118,800 [2]. - Qianhai Capital (01945) repurchased 44,800 shares for a total of 57,100 [2]. - Maple Leaf Education (01317) repurchased 146,000 shares for a total of 56,200 [2]. Group 2: Cumulative Buyback Data - Tencent Holdings has a cumulative buyback of 38,401,000 shares, representing 0.418% of its total share capital [2]. - China Hongqiao has a cumulative buyback of 45,342,000 shares, representing 0.480% of its total share capital [2]. - Hang Seng Bank has a cumulative buyback of 2,400,000 shares, representing 0.128% of its total share capital [2]. - Yanzheng Technology has a cumulative buyback of 2,169,000 shares, representing 1.343% of its total share capital [2]. - Beisen Holdings has a cumulative buyback of 6,695,000 shares, representing 0.953% of its total share capital [2]. - Sinopec Engineering has a cumulative buyback of 136,500 shares, representing 0.010% of its total share capital [2]. - International Home Retail has a cumulative buyback of 3,720,000 shares, representing 0.514% of its total share capital [2]. - Meiheng Industrial has a cumulative buyback of 386,400 shares, representing 0.940% of its total share capital [2]. - Qianhai Capital has a cumulative buyback of 692,400 shares, representing 0.231% of its total share capital [2]. - Maple Leaf Education has a cumulative buyback of 48,304,000 shares, representing 1.625% of its total share capital [2].

Core Viewpoint - Sinopec Engineering (02386) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1 - The company plans to repurchase 136,500 shares at a total cost of HKD 869,500 [1] - The buyback is scheduled for August 18, 2025, suggesting a strategic long-term investment approach [1]