Core Insights - The article highlights the net inflow and outflow of funds in the Hong Kong stock market, with Xiaomi Group, Tencent Holdings, and China Construction Bank leading in net inflows, while the Yingfu Fund, Hang Seng China Enterprises, and Southern Hang Seng Technology experienced the highest net outflows [1] Group 1: Net Inflows - Xiaomi Group-W (01810) recorded a net inflow of 1.07 billion, representing a 16.36% increase in its closing price [2] - Tencent Holdings (00700) saw a net inflow of 863 million, with a 7.49% increase in its closing price [2] - China Construction Bank (00939) had a net inflow of 699 million, with a significant 41.06% increase in its closing price [2] Group 2: Net Outflows - Yingfu Fund (02800) experienced the largest net outflow of 6.289 billion, reflecting a -31.44% change in its closing price [2] - Hang Seng China Enterprises (02828) had a net outflow of 2.880 billion, with a -17.89% change in its closing price [2] - Southern Hang Seng Technology (03033) faced a net outflow of 1.289 billion, showing a -11.37% change in its closing price [2] Group 3: Net Inflow Ratios - 361 Degrees (01361) led with a net inflow ratio of 74.40%, with a net inflow of 8.9117 million [3] - BRILLIANCE CHI (01114) followed with a net inflow ratio of 64.04%, amounting to a net inflow of 36.4910 million [3] - Qin Port Co. (03369) had a net inflow ratio of 61.05%, with a net inflow of 846,600 [3] Group 4: Net Outflow Ratios - Wisdom Hong Kong 100 (02825) had a net outflow ratio of -100.00%, with a net outflow of -18,200 [3] - Stone Pharmaceutical Group (02005) recorded a net outflow ratio of -68.86%, with a net outflow of -14.1501 million [3] - Dexion Shipping (02510) experienced a net outflow ratio of -53.53%, with a net outflow of -10.0204 million [3]

Core Viewpoint - Qinhuangdao Port Co., Ltd. is a major player in the port services industry, focusing on integrated port operations and benefiting from recent investments and market dynamics [2][3]. Company Overview - Qinhuangdao Port Co., Ltd. is located in Qinhuangdao, Hebei Province, and provides comprehensive port services including loading, storage, warehousing, transportation, and logistics [2][7]. - The company is a state-owned enterprise controlled by the Hebei Provincial Government's State-owned Assets Supervision and Administration Commission [2]. - It is recognized as the world's largest public terminal operator for bulk dry cargo and has historically been the largest public coal terminal globally from 2013 to 2015 [2]. Business Segments - The company's revenue composition includes: - Coal and related services: 66.61% - Metal ores and related services: 21.36% - Other miscellaneous services: 8.80% - Container services: 1.50% - Other (supplementary): 1.25% - Liquid cargo services: 0.47% [7]. Recent Developments - In the past year, the company has been subject to a stake acquisition by Great Wall Life Insurance Co., Ltd., which now holds 5.00% of the total shares [3]. - As of September 30, the number of shareholders decreased by 6.72% to 47,500, with no change in average circulating shares per person [8]. Financial Performance - For the period from January to September 2025, the company reported a revenue of 5.212 billion yuan, reflecting a year-on-year growth of 2.81%, and a net profit attributable to shareholders of 1.391 billion yuan, up by 3.87% [8]. Market Activity - On January 12, the stock price increased by 0.86%, with a trading volume of 93.0827 million yuan and a turnover rate of 0.56%, leading to a total market capitalization of 19.724 billion yuan [1]. - The stock has shown a net outflow of 5.5689 million yuan from major investors today, indicating a lack of clear trend in major holdings [4][5]. Technical Analysis - The average trading cost of the stock is 3.43 yuan, with the current price near a support level of 3.52 yuan, suggesting potential for a rebound if this support holds [6].

Market Performance - The Hong Kong stock market opened lower and closed with a slight rebound, with the Hang Seng Index down 1.17% at 26,149.31 points, the Hang Seng Tech Index down 1.05% at 5,678.34 points, and the National Enterprises Index down 1.09% at 9,039.34 points [1] - Major tech stocks declined, with Alibaba down 2.26%, Tencent down 1.36%, JD.com down 2.02%, and Meituan down 3.35% [1] - The semiconductor sector saw gains, with Shanghai Fudan up over 5% and Huahong Semiconductor up over 2% [1] - Coal stocks led the gains, with Jinma Energy up over 11% [1] Company News - Xinyi International (00732.HK) reported a cumulative net operating revenue of approximately HKD 16.534 billion for 2025, a decrease of about 7.3% year-on-year [2] - China Overseas Development (00688.HK) reported a cumulative contract property sales amount of approximately RMB 251.231 billion for 2025, down 19.1% year-on-year [2] - Greentown China (03900.HK) reported a total contract sales amount of approximately RMB 251.9 billion for 2025, a decrease of 9% [2] - China Overseas Hongyang Group (00081.HK) achieved a contract sales amount of RMB 2.57 billion for December 2025, down 43.9% year-on-year [3] Strategic Developments - China Carbon Neutrality (01372.HK) signed a tripartite strategic cooperation agreement with China Tower and China Recycled Resources to jointly create a lithium battery circular economy ecosystem [4] - Guofu Hydrogen Energy (02582.HK) entered into a pre-purchase order agreement for hydrogen energy project equipment in Tasmania, Australia [4] - Lijun Pharmaceutical (01513.HK) had its Lecanemab injection included in the priority review and approval process [4] Stock Buybacks - Xiaomi Group (01810.HK) repurchased 3.9 million shares for HKD 149 million at prices between HKD 38.12 and HKD 38.20 [9] - Tencent Holdings (00700.HK) repurchased 1.023 million shares for HKD 636 million at prices between HKD 615.5 and HKD 628 [9] - Geely Automobile (00175.HK) repurchased 3.388 million shares for HKD 59.156 million at prices between HKD 17.38 and HKD 17.65 [10] Institutional Insights - Guolian Securities remains optimistic about the AI value reassessment trend in China, suggesting a focus on platform-based internet companies with computational resources and model capabilities [12] - Guoyuan International notes that the Hong Kong stock market is currently in a relatively flat period, awaiting further catalysts, with potential inflows of new capital following the announcement of the new Federal Reserve Chairman [13] - Qianhai Open Source's Yang Delong predicts that the Hong Kong stock market, including the Hang Seng Index and Hang Seng Tech Index, may regain upward momentum in 2026, driven by capital inflows [13]

Core Insights - Qinhuangdao Port Co., Ltd. (秦港股份) announced a total cargo throughput of 433 million tons for 2025, representing a growth of 4.48% compared to 414 million tons in 2024 [1] - The container business showed remarkable performance with a throughput of 1.6856 million TEUs, a year-on-year increase of 34.15%, and a physical tonnage growth of 20.52% [1] - The oil and liquid chemical business achieved a throughput of 2.17 million tons, growing by 25.43% year-on-year [1] Business Segment Performance - Coal transportation, a core business, maintained stable growth with a throughput of 217 million tons, reflecting a year-on-year increase of 3.93% [1] - Metal ore throughput reached 162 million tons, marking a year-on-year growth of 3.26% [1] - General cargo and other goods saw a throughput of 32.17 million tons, with a year-on-year increase of 4.82% [1] Port Distribution - Huanghua Port achieved a throughput of 107 million tons in 2025, with a growth rate of 8.04%, the highest among the three ports [1] - Qinhuangdao Port, the main port of the company, completed a throughput of 190 million tons, reflecting a year-on-year growth of 3.81% [1] - Caofeidian Port recorded a throughput of 136 million tons, with a year-on-year increase of 2.74% [1] Strategic Insights - The differentiated development strategy among the three ports is yielding results, with Qinhuangdao Port focusing on coal transportation, Caofeidian Port excelling in metal ores, and Huanghua Port performing well in diversified cargo types [2] - The steady growth in throughput for 2025 is attributed to the stable operation of the domestic macro economy and demand support from the bulk commodity market, alongside the company's continuous efforts in optimizing port layout and adjusting cargo structure [2] - The significant growth in the container business indicates the company's proactive expansion into high-value-added services beyond traditional energy transportation, showcasing successful transformation efforts [2]

Group 1 - The core point of the article is that Qin Port Co., Ltd. (stock code: 03369) announced a projected total throughput of 433 million tons for the fiscal year ending December 31, 2025, representing a year-on-year growth of 4.48% [1]

Core Viewpoint - Qinhuangdao Port Co., Ltd. reported a total throughput of 433 million tons for the 12 months ending December 31, 2025, representing a year-on-year growth of 4.48% [1] Group 1: Overall Performance - The total throughput of the company reached 433 million tons, with a year-on-year increase of 4.48% [1] - The throughput at Qinhuangdao Port was 190 million tons, reflecting a growth of 3.81% year-on-year [1] - The throughput at Caofeidian Port was 136 million tons, showing a year-on-year increase of 2.74% [1] - The throughput at Huanghua Port was 107 million tons, with a significant year-on-year growth of 8.04% [1]

Core Viewpoint - Qin Port Co., Ltd. (601326) announced that its total throughput for the year ending December 31, 2025, is projected to reach 433 million tons, representing a year-on-year increase of 4.48% [1] Company Summary - The company expects a total throughput of 433 million tons by the end of 2025 [1] - This throughput reflects a growth rate of 4.48% compared to the previous year [1]

Core Viewpoint - Qin Port Co., Ltd. (601326.SH) announced that its total throughput for the year 2025 is projected to be 433 million tons, representing a year-on-year increase of 4.48% [1] Company Summary - The company expects a total throughput of 433 million tons in 2025 [1] - This throughput figure indicates a growth of 4.48% compared to the previous year [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。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：03369） 有關本集團截至2025年12月31日止年度吞吐量之自願性公告 本公告乃由秦皇島港股份有限公司（「本公司」，連同其附屬公司合稱為「本集團」）所作的自願性公 告。 為了令本公司之股東及潛在投資者對本公司最近期的業務表現能有更好的了解，本公司董事會（「董 事會」）現公布本集團截至2025年12月31日止年度的營運資料如下： 按貨種分類之吞吐量表 | | 2025年度吞吐量 | 2024年度吞吐量 | 增加╱（減少） | | --- | --- | --- | --- | | | （百萬噸） | （百萬噸） | 百分比(%) | | 煤炭 | 217.03 | 208.83 | 3.93 | | 金屬礦石 | 161.72 | 156.62 | 3.26 | | 油品及液體化工 | 2.17 | 1.73 | 25.43 | | 集裝箱 | ...

证券代码：601326 证券简称：秦港股份 公告编号：2026-001 秦皇岛港股份有限公司 关于 2025 年度吞吐量的公告 | | 2025 年度吞吐量 | 2024 年度吞吐量 | 增加/（减少） | | --- | --- | --- | --- | | | （百万吨） | （百万吨） | 百分比（%） | | 秦皇岛港 | 189.71 | 182.74 | 3.81 | | 曹妃甸港 | 136.22 | 132.59 | 2.74 | | 黄骅港 | 106.60 | 98.67 | 8.04 | | 总计 | 432.53 | 414.00 | 4.48 | 上述营运数据乃根据本公司内部统计资料初步编制，与本公司届时公布的年度报 告所载数据可能存在差异，年度营运数据尚需以正式公布的年度报告为准，敬请广大 投资者理性投资，注意投资风险。 特此公告。 秦皇岛港股份有限公司董事会 2026 年 1 月 8 日 1 本公司经营的货种吞吐量如下： 2025 年度吞吐量 （百万吨） 2024 年度吞吐量 （百万吨） 增加/（减少） 百分比（%） 煤炭 217.03 208.83 3.93 金属矿石 161 ...