Core Viewpoint - Shanxi Installation (02520) has received approval from the China Securities Regulatory Commission (CSRC) to publicly issue corporate bonds totaling up to RMB 1.35 billion to professional investors [1] Group 1 - The company is authorized to issue corporate bonds with a total face value not exceeding RMB 1.35 billion [1] - The bond issuance must strictly adhere to the prospectus submitted to the Shanghai Stock Exchange [1] - The approval is valid for 24 months from the date of registration, allowing the company to issue bonds in tranches within this period [1] - The company is required to report any significant events that occur from the date of registration until the completion of the bond issuance [1]

建議發行公司境內債券獲得中國證監會註冊批覆 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。 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） 任銳先生 中 國 山 西，2026年1月7日 茲 提 述 山 西 省 安 裝 集 團 股 份 有 限 公 司（「本公司」）日 期 為2025年9月8日 的 2025年 第 一 次 臨 時 股 東 大 會（「臨時股東大會」）通 告 及 股 東 通 函，內 容 有 關（其 中 包 括）本 公 司 建 議 發 行 公 司 境 內 債 券 的 議 案，且 本 公 司 股 東 已 於 2025年9月24日 召 開 的 臨 時 股 東 大 會 上 批 准 了 上 述 議 案。 本 公 司 董 事 會 ...

Group 1 - The core viewpoint of the article highlights that Shanxi Installation (02520) has transferred shares from China Merchants Securities to GF Securities in Hong Kong, with a market value of HKD 255 million, accounting for 29.05% of the total [1] - On December 1, 2025, Shanxi Installation's application for the overseas listing of its unlisted H-shares was accepted by the China Securities Regulatory Commission, making it the first company in Shanxi Province to pursue full circulation of H-shares [1] - Following the completion of the share conversion, the circulating shares of Shanxi Installation will increase from 373 million to 1.373 billion, significantly enhancing the company's circulating capital and market value, which is expected to attract more capital attention [1] Group 2 - On December 23, Zhuoran Co., Ltd. announced that its wholly-owned subsidiary Zhuoran Smart signed a supplementary agreement for the EPC contract of the Inner Mongolia Dongjing Zhongke New Materials Co., Ltd. project, which involves an annual production of 1.2 million tons of PBAT biodegradable polyester [1] - The total investment for the Inner Mongolia PBAT project is set at RMB 5.5 billion, and upon completion, it will become the largest single PBAT biodegradable polyester production line in China [1] - Shanxi Installation is the EPC contractor for this project, marking its first contract in the PBAT biodegradable polyester sector [1]

Group 1 - The core point of the article highlights that Shanxi Installation (02520) has transferred shares from China Merchants Securities to GF Securities Hong Kong, with a market value of HKD 255 million, accounting for 29.05% of the total [1] - On December 1, 2025, Shanxi Installation's application for the overseas listing of its unlisted H-shares was accepted by the China Securities Regulatory Commission, making it the first company in Shanxi Province to pursue full circulation of H-shares [1] - Following the conversion, the circulating shares of Shanxi Installation will increase from 373 million to 1.373 billion, significantly enhancing the company's circulating capital and market value, which is expected to attract more capital attention [1] Group 2 - On December 23, Zhuoran Co., Ltd. announced that its wholly-owned subsidiary Zhuoran Smart signed a supplementary agreement for the EPC contract of the Inner Mongolia PBAT biodegradable polyester project with Shanxi Installation and two other companies [1] - The total investment for the Inner Mongolia PBAT project is set at RMB 5.5 billion, and once completed, it will become the largest single PBAT biodegradable polyester production line in China [1] - Shanxi Installation is the EPC contractor for this project, marking its first contract in the PBAT biodegradable polyester sector [1]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 本月底法定/註冊股本總額： RMB 1,373,486,000 第 1 頁 共 10 頁 v 1.1.1 FF301 公司名稱: 山西省安裝集團股份有限公司 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02520 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 373,486,000 | RMB | | | 1 RMB | | 373,486,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | ...

Group 1 - Shanxi Installation (02520) experienced a significant increase in trading volume, with stock price rising nearly 14% to HKD 2.48, and a trading volume of HKD 236 million [1] - On December 1, Shanxi Installation submitted an application for the overseas listing of its unlisted H-shares to the China Securities Regulatory Commission, becoming the first company in Shanxi Province to pursue full circulation of H-shares [1] - Following the conversion, the circulating shares of Shanxi Installation will increase from 373 million to 1.373 billion, significantly enhancing the company's circulating capital and market value, which is expected to attract more capital attention [1] Group 2 - On December 23, Zhuoran Co., Ltd. announced that its wholly-owned subsidiary Zhuoran Smart signed a supplementary agreement for the EPC contract of the Inner Mongolia Dongjing Zhongke New Materials Co., Ltd. project, which involves an annual production of 1.2 million tons of PBAT biodegradable polyester [1] - The total investment for the Inner Mongolia PBAT project is HKD 5.5 billion, and upon completion, it will become the largest single PBAT biodegradable polyester production line in China, with Shanxi Installation serving as the EPC contractor for this project [1]

（文章来源：每日经济新闻） 每经AI快讯，山西安装(02520.HK)今日盘中股价涨近14%，截至发稿，涨13.76%，报2.48港元，成交额 2.36亿港元。 ...

Group 1 - Shanxi Installation (02520) experienced a significant increase in trading volume, with stock price rising nearly 14%, reaching HKD 2.48, and a trading volume of HKD 236 million [1] - On December 1, Shanxi Installation submitted an application for the overseas listing of its unlisted H-shares to the China Securities Regulatory Commission, becoming the first company in Shanxi Province to pursue full circulation of H-shares [1] - Following the conversion, the circulating shares of Shanxi Installation will increase from 373 million to 1.373 billion, significantly enhancing the company's circulating share capital and market value, which is expected to attract more capital attention [1] Group 2 - On December 23, Zhuoran Co., Ltd. announced that its wholly-owned subsidiary Zhuoran Smart signed a supplementary agreement for the EPC contract of the Inner Mongolia Dongjing Zhongke New Materials Co., Ltd. project, which involves an annual production of 1.2 million tons of PBAT biodegradable polyester [1] - The total investment for the Inner Mongolia PBAT project is HKD 5.5 billion, and upon completion, it will become the largest single PBAT biodegradable polyester production line in China, with Shanxi Installation serving as the EPC contractor for this project [1]

Core Viewpoint - Shanxi Installation (02520) has seen a significant increase in trading volume and stock price, rising nearly 14% after the acceptance of its H-share listing application, marking it as the first company in Shanxi Province to pursue full circulation of H-shares [1] Group 1: Stock Performance - As of the report, Shanxi Installation's stock price increased by 13.76%, reaching HKD 2.48, with a trading volume of HKD 236 million [1] - The company is expected to attract more capital attention due to the increase in its circulating shares from 373 million to 1.373 billion after the conversion [1] Group 2: Project Developments - On December 23, Zhuoran Co., a wholly-owned subsidiary of Zhuoran, signed a supplementary agreement for the EPC contract of the Inner Mongolia PBAT project with Shanxi Installation and two other companies [1] - The total investment for the Inner Mongolia PBAT project is set at HKD 5.5 billion, which will become the largest single PBAT biodegradable polyester production line in China upon completion [1] - Shanxi Installation is the EPC contractor for this project, marking its first contract in the PBAT biodegradable polyester sector [1]

茲提述山西省安裝集團股份有限公司（「本公司」）日期為2025年12月5日的通告及通 函（「該通函」），內容有關本公司2025年第三次臨時股東會（「臨時股東會」）。除非另 有所指，本公告所用詞彙具有該通函所界定的相同涵義。 召開及出席臨時股東會 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） 2025年第三次臨時股東會的投票表決結果 臨時股東會的投票表決結果如下： | | 普通決議案 | 票數(%) | | | | --- | --- | --- | --- | --- | | | | 贊成 | 反對 | 棄權 | | 1. | 審議有關2025年金融服務框架協議 | 242,482,000 | 0 | 0 | | | 項下持續關連交易的決議案（定義及 | 100.00% | 0.00% ...