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的內容概不負責， 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的任何損失承擔任何責任。 Shanxi Installation Group Co., Ltd. 山西省安裝集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2520） 建議修訂公司章程 及建議修訂若干 企業管治規則 本公告由山西省安裝集團股份有限公司（「本公司」）根據香港聯合交易所有限公司 （「聯交所」）證券上市規則（「上市規則」）第13.51(1)條的規定作出。 本公司董事會（「董事會」）於2025年10月24日召開第五十次會議上批准並提請本公司 股東（「股東」）提案，以(1)建議修訂本公司的公司章程（「公司章程」）；及(2)建議修 訂若干企業管治規則。有關決議案之詳情如下： 建議取消監事會及修訂公司章程 建議修訂公司章程須經股東於股東大會上以特別決議案方式批准後，方告作實。 於批准建議修訂公司章程及取消監事會前，監事會仍將勤勉盡責履行職權，維護本 公司及全體股東的利益。 建議修訂若干企業管治規則 為 ...

（股份代號：2520） Shanxi Installation Group Co., Ltd. 山西省安裝集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 審計委員會 — 職權範圍 3. 會議 山西省安裝集團股份有限公司（「本公司」，連同其附屬公司統稱為「本集團」）董事會 （「董事會」）已成立一個董事委員會，名為審計委員會（「審計委員會」），其構成及具 體職責載列於下文： 1. 成員 1.1. 審計委員會應由董事會委任，並至少由三名成員（「成員」）組成。 – 1 – 1.2. 成員應在本公司之非執行董事中委任。大多數成員應為本公司之獨立非執 行董事，並須有至少一名成員為具備專業資格或會計或相關財務管理專業 知識之獨立非執行董事。 1.3. 審計委員會之主席應由董事會委任，並必須為獨立非執行董事。 1.4. 本公司現任審計師之前任合夥人在(a)彼終止成為該公司合夥人之日期； 或(b)彼不再享有該公司財務利益之日期（以日期較後者為準）起計兩年內， 不得擔任審計委員會之成員。 1.5. 各審計委員會成員之任期應由董事會於委任時釐定。 2. 審計委員會秘書 – 2 – 2.1. 本公司的公司秘書（或董事會 ...

Shanxi Installation Group Co., Ltd. 山西省安裝集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2520） 1.4. 薪酬委員會各成員的任期應由董事會於委任時釐定。 2. 薪酬委員會秘書 3. 會議 3.1. 每年至少須舉行一次會議。 – 1 – 1.2. 薪酬委員會大部分成員應為本公司的獨立非執行董事。 1.3. 董事會應委任薪酬委員會主席。主席須為本公司獨立非執行董事。 2.1. 本公司的公司秘書（或董事會可能指定的任何一名本公司聯席公司秘書（如 適用））須擔任薪酬委員會秘書。 2.2. 薪酬委員會可不時委任具備適當資格及經驗的任何其他人士擔任薪酬委員 會秘書。 薪酬與考核委員會 — 職權範圍 山西省安裝集團股份有限公司（「本公司」，連同其附屬公司統稱為「本集團」）董事會 （「董事會」）已成立一個董事委員會，名為薪酬與考核委員會（「薪酬委員會」），其構 成及具體職責載列於下文： 1. 成員 1.1. 薪酬委員會應由董事會委任。 (a) 獲轉授責任釐定個別執行董事及高級管理層的薪酬待遇；或 (b) 向董事會建議個別執行董事及高級管理層的薪酬待遇。 ...

山西省安裝集團股份有限公司（「本公司」）董事會（「董事會」）已成立一個董事委員 會，名為提名委員會（「提名委員會」），其構成及具體職責載列於下文： 1. 成員 2. 提名委員會秘書 Shanxi Installation Group Co., Ltd. 山西省安裝集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2520） 提名委員會 — 職權範圍 5. 職責 提名委員會的主要職責為定期進行審查董事會的架構、規模及組成以及董事會 多元化政策；識別適合成為董事會成員的人才；評估獨立非執行董事的獨立 性；及就委任或重新委任董事的相關事宜向董事會提出建議。提名委員會的具 體職責須包括但不限於以下各項： – 3 – 4.1. 應提名委員會邀請，董事長及╱或總裁、副總裁、外聘顧問及其他董事會 成員可出席全部或任何會議。 4.2. 僅提名委員會成員在會議上有投票權。 3.1. 每年至少將舉行一次會議。 4. 出席會議 – 2 – 3.2. 除非另有協定或豁免，否則就提名委員會的所有定期會議而言，確認每次 會議的地點、時間及日期的通告，應於會議日期最少5日前送交各提名委員 會成員及任何其他須出席人士 ...

Company News - China Unicom (00762.HK) reported a revenue of 292.985 billion yuan for the first three quarters, a year-on-year increase of 1%; net profit reached 20 billion yuan, up 5.1% year-on-year. The company noted a significant breakthrough in computing power business, with cloud revenue of 52.9 billion yuan and data center revenue of 21.4 billion yuan, an increase of 8.9% year-on-year. The cumulative number of customers for 5G virtual private networks exceeded 20,000. Additionally, the company plans to spin off its smart network technology for listing on the Shenzhen Stock Exchange's Growth Enterprise Market [2] - Tmall (06110.HK) reported a mid-term revenue of approximately 12.2986 billion yuan for the period ending August 31, a decrease of 5.79% year-on-year; net profit was 789 million yuan, down 9.69% year-on-year, primarily due to fluctuations in the offline consumption environment affecting customer traffic. The gross profit margin for the period was 41.0%, a decrease of 0.1 percentage points year-on-year, with inventory at 5.834 billion yuan, down 4.7% year-on-year, and the total number of stores decreased by 19.4% year-on-year [2] - Shanshui Cement (00691.HK) reported operating revenue of 8.946 billion yuan for the first nine months, a year-on-year decrease of 17.99%; the company incurred a loss of 132 million yuan, an increase of 12.47% year-on-year [3] - China Overseas Macro Group (00081.HK) reported an operating profit of approximately 773 million yuan for the first three quarters, a year-on-year decline of 46.7% [4] - Tianjin Port Development (03382.HK) announced that its subsidiary plans to publicly sell 60% of the equity in China Railway Storage and Transportation [5] - China National Foreign Trade (00598.HK) completed the sale of a 25% stake in Lu Kai International, expecting to generate revenue of 1.65 billion yuan [6] - Xinyi International (00732.HK) plans to acquire approximately 11.43% equity in Xinyi Renshou through a public bidding process, involving an investment of 1.05 billion yuan [7] - Shanxi Installation (02520.HK) intends to establish a joint venture with Shanxi Sanjian and Huaneng Power for the Shanxi Qingshui Pumped Storage Power Station project, with a total registered capital of 100 million yuan [8] - Kaisa Group (01813.HK) has postponed the hearing for its liquidation application [9] - Baiguoyuan Group (02411.HK) has received approval from the Hong Kong Stock Exchange for its application to implement full circulation of H-shares [10] Buyback Dynamics - Haotian International Investment (01341.HK) completed the issuance of 1.6 billion shares to PCL [11] - AAC Technologies (02018.HK) repurchased 300,000 shares at a cost of approximately 11.9098 million Hong Kong dollars, with repurchase prices ranging from 39.46 to 39.98 Hong Kong dollars [12] - Mengniu Dairy (02319.HK) repurchased 500,000 shares at a cost of 7.1714 million Hong Kong dollars, with repurchase prices between 14.32 and 14.37 Hong Kong dollars [13] - Lianyi Rong Technology-W (09959.HK) repurchased 2.43 million shares at a cost of approximately 7.47075 million Hong Kong dollars, with repurchase prices ranging from 2.99 to 3.1 Hong Kong dollars [14]

Core Viewpoint - The establishment of a joint venture company, Shanxi Jianhua Energy Co., Ltd., aims to enhance the company's profitability and expand its business scope in the renewable energy sector through investment in a pumped storage power station project [1][2]. Group 1: Joint Venture Details - The joint venture will be formed with Shanxi Sanjian and Huaneng Power, with respective contributions of RMB 65 million, RMB 25 million, and RMB 10 million, representing 65%, 25%, and 10% of the registered capital [1]. - The joint venture will not be a subsidiary of the company, and its performance will not be consolidated into the group's financial statements [1]. Group 2: Project Benefits - The pumped storage power station is expected to enhance the company's long-term profitability and provide stable returns due to its operational cycle of up to 50 years, optimizing energy utilization [1]. - The project aligns with national "dual carbon" goals and green energy development, allowing the company to capture market opportunities in the renewable energy sector and expand its market share [2]. - Participation in this project will improve the company's brand value and influence, showcasing its technical capabilities and commitment to social responsibility [2].

Core Viewpoint - Shanxi Installation (02520.HK) has entered into a cooperation agreement with Shanxi Sanjian and Huaneng Power to establish a joint venture company, Shanxi Jianhua Energy Co., Ltd., aimed at investing in a pumped storage power station project, which is expected to enhance the company's profitability and brand influence in the renewable energy sector [1][2]. Group 1 - The joint venture will have a registered capital of RMB 100 million, with contributions of RMB 65 million from Shanxi Sanjian, RMB 25 million from Huaneng Power, and RMB 10 million from the company, representing 65%, 25%, and 10% ownership respectively [1]. - The joint venture will not be a subsidiary of the company, and its financial performance will not be consolidated into the group's financial statements [1]. - The project is expected to provide long-term stable returns due to the operational longevity of pumped storage power stations, which can last up to 50 years, thus enhancing the company's profitability and risk resilience [1]. Group 2 - The establishment of the joint venture is aimed at expanding the company's operational scope and brand influence by integrating pumped storage power stations into its existing construction business, thereby enhancing its comprehensive management capabilities in complex projects [2]. - The project aligns with national "dual carbon" goals and the development of green energy, allowing the company to seize market opportunities in the renewable energy sector and expand its market share through energy storage services and electricity trading [2]. - This investment positions the company as a participant in national energy strategies, showcasing its technical capabilities and social responsibility, which will further enhance its brand value and solidify its foundation for sustainable development [2].

Group 1 - The core point of the article is the establishment of a joint venture company involving Shanxi Installation, Shanxi Sanjian, and Huaneng Power for the construction of the Qingshui Pumped Storage Power Station project [1] Group 2 - Shanxi Sanjian will invest RMB 65 million, accounting for 65% of the joint venture's registered capital [1] - Huaneng Power will contribute RMB 25 million, representing 25% of the registered capital [1] - Shanxi Installation will invest RMB 10 million, making up 10% of the joint venture's registered capital [1]

Core Viewpoint - Shanxi Installation (02520) has entered into a cooperation agreement with Shanxi Sanjian and Huaneng Power to establish a joint venture company for the Shanxi Qingshui Pumped Storage Power Station project [1] Group 1: Joint Venture Details - The joint venture will have a registered capital where Shanxi Sanjian contributes RMB 65 million (65%), Huaneng Power contributes RMB 25 million (25%), and Shanxi Installation contributes RMB 10 million (10%) [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的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 董事會欣然宣佈，於2025年10月22日，山西三建、華能電力與本公司就（其中包括） 成立合資公司訂立合作協議，其中，山西三建、華能電力及本公司將分別出資人民 幣65百萬元、人民幣25百萬元及人民幣10百萬元，佔合資公司註冊資本的65%、 25%及10%。合資公司將作為該項目的項目公司而成立。 本公司對合資公司註冊資本的出資將由本集團內部資源提供資金。合資公司將不會 成為本公司的附屬公司，合資公司之業績不會併入本集團財務報表。 合資協議 合資協議的主要條款載列如下： Shanxi Installation Group Co., Ltd. 山西省安裝集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2520） 關連交易 成立合資公司 緒言 訂約方 – 1 – (1) 山西三建 (2) 華能電力 (3) 本公司 合資公司名稱 山西建華能源有限公司（須待最終監管註冊） 註冊資本 人民幣10 ...