2025 年 8 月 27 日 完 註： BlackRock, Inc.憑藉持有受要約公司的普通股，所以根據第(6)類別屬受要約公司的聯繫人。 交易是為全權委託投資客戶的帳戶進行的。 這些是有關受要約公司的美國存託股份進行的交易。交易以美元進行。 透過協議安排進行私有化 就新奧能源控股有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | | | 買入／賣出 | 股份數目 | | 每股價格 | | 交易後數額（包括與其訂 | | 佔該類別證券的百分比 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | | | | 有協議或達成諒解的任 | | （包括與其訂有協議或 | | | | | | | | | | | | | | 何人士的證券） | | 達成諒解的任何人士的 | | | | | | | | | | | | | | | | 證券）% | | | B ...

註： 2025 年 8 月 28 日 透過協議安排進行私有化 就新奧天然氣股份有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | 有關證券的說 | 交易性質 | | 買入／賣 | 涉及的股份 | 已支付／已收取 | 已支付或已 | 已支付或已 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 明 | | | 出 | 總數 | 的總金額 | 收取的最高 | 收取的最低 | | | | | | | | | | | 價（H） | 價（L） | | Morgan | 2025 | 8 年 月 | 普通股 | | 因全屬客戶主動發出且由客戶需求帶動的買賣 | 買入 | 11,200 | $209,158.7000 | $18.8300 | $18.5600 | | Stanley | 27 | 日 | | 盤所產生的 | Delta 1 產品的對沖活動 | | | | | | | Bank, N.A. | | | 普通股 | | ...

| 普通股 | 因全屬客戶主動發出且由客戶需求帶動的買賣 | 賣出 | 212,200 | $3,970,974.9976 | $18.7670 | $18.6000 | | --- | --- | --- | --- | --- | --- | --- | | | 盤所產生的 Delta 1 產品的對沖活動 | | | | | | 完 註： 2025 年 8 月 28 日 透過協議安排進行私有化 就新奥天然气股份有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | 有關證券的說 | 交易性質 | 買入／賣 | 涉及的股份 | 已支付／已收取 | 已支付或已 | 已支付或已 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 明 | | 出 | 總數 | 的總金額 | 收取的最高 | 收取的最低 | | | | | | | | | 價（H） | 價（L） | | UBS AG | 2025 年 8 月 | 普通股 | 因全屬客戶主動發出且由客戶需求帶動的買 ...

| 交易方 | 日期 | 有關證券的說 | 交易性質 | | 買入／賣出 | 涉及的股份 | 已支付／已收 | 已支付或已 | 已支付或已 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 明 | | | | 總數 | 取的總金額 | 收取的最高 | 收取的最低 | | | | | | | | | | 價（H） | 價（L） | | 中國國際金 | 2025年8月27 | 普通股 | 建立新的追蹤指數 | ETF，當中相關證券佔已發行 | 買入 | 2,200 | $40,923.0000 | $18.7000 | $18.5600 | | 融股份有限 | 日 | | 的該類別證券少於 | 1%及同時佔該一籃子證券或 | | | | | | | 公司 | | | 該指數的價值少於 | 20% | | | | | | | | | 普通股 | | 沽售因應客戶主動要求所贖回既有的追蹤指數 | 賣出 | 4,500 | $84,422.0000 | $18.8100 | $18.5700 | | | | | ETF 的相關股份 ...

2025 年 8 月 28 日 透過協議安排進行私有化 就新奧天然氣股份有限公司的股份的交易披露 註： 中信證券股份有限公司是與要約人有關連的第(5)類別聯繫人。 交易是為本身帳戶進行的。 這些是有關新奧天然氣股份有限公司 A 股進行的交易。交易以人民幣進行。 交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | 有關證券的說 | 交易性質 | | 買入／賣出 | 涉及的股份 | | 已支付／已 | 已支付或已 | 已支付或已 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 明 | | | | 總數 | | 收取的總金 | 收取的最高 | 收取的最低 | | | | | | | | | | 額 | 價（H） | 價（L） | | 中信證券股 | 2025年8月27 | 普通股 | 進行既有的追蹤指數 | ETF 的交易 | 買入 | | 100 | $1,864.0000 | $18.6400 | $18.6400 | | 份有限公司 | 日 ...

| 交易方 | 日期 | 有關證券的說明 | 產品說明 | 交易性質 | 與衍生工具有關 | 參考價 | 到期日或清結日 | | | 已支付／已收取 | 交易後數額（包括 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 的參照證券數目 | | | | | 的總金額 | 與其訂有協議或 | | | | | | | | | | | | | | | 達成諒解的任何 | | | | | | | | | | | | | | | 人士的證券） | | | | Morgan | 2025 年 8 月 27 | 衍生工具 | 其他類別產品 | 客戶主動利便客戶 | | | 2026 年 10 月 | ─ | 2,800 | $52,722.6000 | 0 | 30 | $18.8295 | | Stanley Bank, | 日 | | | 賣出 | | | 日 | | | | | | | | N.A. | | 衍生工具 | 其他類別產品 | 客戶主動利便客戶 | ...

交银国际研究 公司更新 | 燃气 | 收盘价 | | 目标价 | 潜在涨幅 | 2025 年 8 月 28 日 | | --- | --- | --- | --- | --- | --- | | 港元 | | 62.95 | 港元 73.66↓ | +17.0% | | | 新奧能源 (2688 HK) | | | | | | 上半年经营偏弱，目前私有化进展顺利 财务数据一览 | 年结12月31日 | 2023 | 2024 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 收入 (百万人民币) | 113,858 | 109,853 | 112,647 | 117,572 | 122,689 | | 同比增长 (%) | 3.5 | -3.5 | 2.5 | 4.4 | 4.4 | | 净利润 (百万人民币) | 6,816 | 5,987 | 7,169 | 7,644 | 7,860 | | 每股盈利 (人民币) | 6.71 | 6.14 | 6.34 | 6.76 | 6.95 | | 同比增长 (%) | -4.8 ...

新奥能源 (2688 HK) 港股通 业绩符合预期，私有化顺利推进 2025 年 8 月 28 日│中国香港 燃气及分销 证券研究报告 新奥能源公布上半年业绩：1H25 收入 557 亿元（yoy+2.0%），归母净利 24.29 亿元（yoy-5.6%），核心利润 32.23 亿元（yoy-1.2%）；核心利润基 本符合我们的预测（33.0 亿元）。1H25 公司国内基础业务核心利润 yoy+0.7%，泛能资本开支扩张用于光储业务，智家渗透率与客单价同比增 长。公司中期 DPS 同比持平于 0.65 港币、派息率 21%。参考私有化交易 方案，新奥能源当前股价隐含新奥股份在 H 股潜在折价比例为 36%，高于 公用事业 A+H 平均折价率（27%）。维持"买入"评级。 零售气量体现业务经营稳健，预计 2025 年毛利同比增长 4% 公司 1H25 实现零售气量 129.53 亿方（yoy+1.9%），增速好于全国天然气 表观消费量增速（yoy-0.9%），公司天然气业务经营稳健。其中工商业气 量 97.9 亿方（yoy+2.4%），得益于工业新开口气量和存量需求挖潜；居民 气量 30.4 亿方（yoy+1% ...

Core Viewpoint - Neway Energy has signed a long-term LNG sales and purchase agreement with Chevron, marking a significant step in their energy supply strategy [1] Group 1: Agreement Details - The agreement involves the delivery of multiple LNG shipments annually from 2028 for a duration of 10 years [1] - The LNG supply will be sourced from Chevron's global natural gas resource portfolio [1] - The pricing mechanism for the LNG will be linked to oil prices [1]

Performance Summary - China People's Insurance Group reported revenue of 324.12 billion yuan, a year-on-year increase of 10.87%, and a net profit of 26.67 billion yuan, up 13.98% [1] - China Life Insurance recorded revenue of 239.49 billion yuan, a 2.2% increase, with a net profit of 40.93 billion yuan, growing by 6.9% [1] - CNOOC's revenue was approximately 207.61 billion yuan, down 8.45%, with net profit around 69.5 billion yuan, a decrease of 13% [2] - Meituan's revenue reached 178.40 billion yuan, up 14.7%, but adjusted net profit fell by 41% to 12.44 billion yuan [3] - CITIC Bank's revenue was 105.43 billion yuan, down 2.96%, while net profit increased by 2.8% to 36.48 billion yuan [3] - Fosun International's revenue decreased by 10.8% to 87.28 billion yuan, with net profit down 8.2% to 0.66 billion yuan [3] - New Hope Energy reported revenue of 55.67 billion yuan, a 2% increase, but net profit decreased by 5.6% to 2.43 billion yuan [4] - China Cinda's revenue was 34.36 billion yuan, down 2%, while net profit increased by 5.8% to 2.28 billion yuan [5] - China Orient Group's revenue decreased by 12% to 19.86 billion yuan, but net profit surged by 116% to 0.20 billion yuan [6] - Shimao Group's revenue fell by 49% to 14.80 billion yuan, with a net loss of 8.93 billion yuan, narrowing by 61% [7] - Chongqing Steel's revenue was approximately 13.08 billion yuan, down 13.26%, with a net loss of 0.13 billion yuan, narrowing by 81% [8] - United Group's revenue increased by 197.3% to 12.08 billion yuan, with a net profit of 1.69 billion yuan, reversing from a loss of 0.21 billion yuan [9] - Chow Sang Sang's revenue decreased by 2.5% to 11.04 billion yuan, while net profit increased by 71.4% to 0.90 billion yuan [10] - Tianhong International's revenue was 11.03 billion yuan, down 1.86%, with net profit rising by 53.33% to 0.42 billion yuan [11] - Meidong Automotive's revenue fell by 4.9% to 10.14 billion yuan, with a net loss of approximately 0.82 billion yuan, expanding by about 29 times [12] - Jian Sha Tsui's revenue was 8.24 billion yuan, down 6.6%, with net profit of 2.33 billion yuan, a decrease of 7.06% [13] - Sino Land's revenue decreased by 6.64% to 8.18 billion yuan, with net profit down 8.7% to 4.02 billion yuan [14] - Xinyi International's revenue was 8.10 billion yuan, down 5.7%, with net profit of 0.14 billion yuan, a decrease of 19.22% [15] - Fuyao Glass reported revenue of approximately 7.74 billion yuan, down 27.7%, with net profit of approximately 0.26 billion yuan, a decrease of 82.6% [16] - Tianjin Port Development's revenue increased by 3% to 6.95 billion yuan, while net profit decreased by 17.3% to 0.35 billion yuan [17] - Guotai Junan International's revenue was approximately 2.83 billion yuan, up 30%, with net profit of approximately 0.55 billion yuan, a growth of 182% [21] - IGG's revenue decreased by 0.5% to 2.72 billion yuan, with net profit down 2.85% to 0.32 billion yuan [22] - China Aircraft Leasing's revenue was 2.40 billion yuan, down 4.86%, while net profit increased by 6.66% to 0.14 billion yuan [22] - China Orient Education's revenue increased by 10.2% to 2.19 billion yuan, with net profit rising by 48.4% to 0.40 billion yuan [23] Corporate News - China Shengmu signed a new procurement framework agreement with Yiyingmei Dairy for milk powder [24] - Rongchang Bio's clinical trial for Taitasip in treating IgA nephropathy reached its primary endpoint in Phase III [24] - China Huaxing's Bagua City project is expected to start construction in October, with completion by the end of 2026 [24] Buyback Activities - Tencent Holdings repurchased 909,000 shares for 550 million HKD at prices between 596-614.5 HKD [24] - HSBC repurchased 1.5472 million shares for approximately 156 million HKD at prices between 100.2-101.5 HKD [24] - Hang Seng Bank repurchased 210,000 shares for approximately 23.49 million HKD at prices between 111.5-112.2 HKD [24] - MGM China repurchased 1 million shares for approximately 16.02 million HKD at prices between 15.92-16.13 HKD [24]