Market Overview - The Hong Kong stock market experienced fluctuations on December 22, with the Hang Seng Index rising by 0.43% to close at 25,801.77 points, the Hang Seng Tech Index increasing by 0.87% to 5,526.83 points, and the National Enterprises Index up by 0.43% to 8,939.68 points [1] - Major technology stocks showed mixed performance, with Alibaba up by 0.76%, Tencent Holdings up by 0.08%, and JD Group up by 0.9%, while Xiaomi fell by 1.83% and NetEase by 0.09% [1] - The optical communication sector was strong, with Huiju Technology rising by 13% and Changfei Optical Fiber Cable up by 11% [1] - Duty-free concept leader China Duty Free Group surged over 15%, while the new consumption sector saw significant gains, with Mixue Group up over 10% and Pop Mart up over 4% [1] - Chip stocks also rose, with SMIC increasing by nearly 6% and Hua Hong Semiconductor up over 5% [1] - Gold stocks generally rose, with China National Gold up over 7% and Shandong Gold up over 5% [1] - Four new stocks were listed, including Impression Dahongpao and Huacheng Biotechnology, all of which experienced a decline in their initial trading [1] Company News - SF Holding reported a total revenue of 27.173 billion yuan for November, a year-on-year increase of 7.85%, with express logistics revenue growing by 9.88% and business volume increasing by 20.13% [2] - Capital Venture expects to achieve an unaudited net profit of approximately 115 million to 140 million HKD for the fiscal year ending September 30, 2025, marking a turnaround from losses, primarily due to improved performance in listed equity investments [2] - Tianqi Lithium announced the completion of the third phase of its chemical-grade lithium concentrate expansion project, which has officially commenced trial production [3] - Qingdao Port plans to purchase two assets from the cruise port development for the Qingdao Shipping Financial Center [4] - CanSino Biologics has initiated Phase I clinical trials for its DTCP–HIb–MCV4 combined vaccine, completing the enrollment of the first subject [5] - Junshi Biosciences received FDA approval for the Phase I clinical trial application of its biosimilar HLX18 for the treatment of various solid tumors [5] - China National Nuclear Corporation's subsidiary, CNNC Haidewei, received clinical approval for its BNCT boron drug [6] - Hisense Home Appliances subscribed to a financial product from Jingu Trust worth 1.892 billion yuan [7] - Evergrande Property's liquidator has received several updated non-binding offers from selected bidders, which are currently under consideration [7] - Ruian Construction completed the sale of Ruian Property Management Services [8] - Tianjin Port Development's subsidiary plans to purchase ten gantry cranes for 185 million yuan [9] Institutional Insights - CITIC Securities noted that after a strong rally in September, the Hong Kong market has experienced fluctuations since October due to varying overseas macro expectations, with quality assets becoming more attractive [10] - Huatai Securities indicated that the market is still in a left-side layout phase, with uncertainties surrounding the "Santa rally" and potential supply-demand pressures at year-end [10] - China Galaxy suggested focusing on the technology sector as a long-term investment theme, which has seen valuation corrections and may rebound due to multiple favorable factors [10] - The consumption sector is expected to receive significant policy support, with current valuations at relatively low levels, indicating potential for long-term growth [10]

Core Viewpoint - Tianjin Port Development (600717) announced contracts for upgrading the automatic lubrication and electrical control systems of its quay cranes, which are expected to enhance operational efficiency and competitiveness [1] Group 1: Contract Details - On December 19, 2025, Pacific International Company, a subsidiary of Tianjin Port Development, signed a contract with Jinan Heavy Industry Company for the automatic lubrication system upgrade at a cost of RMB 4.731 million (including tax) [1] - On the same date, Pacific International Company also entered into a contract with Jinan Heavy Industry Company for the electrical control system upgrade at a cost of RMB 6.99 million (including tax) [1] Group 2: Project Benefits - The automatic lubrication system upgrade will allow for scheduled and precise lubrication without occupying maintenance time or requiring manual operation, ensuring sufficient lubrication and reducing future failures and contamination [1] - The electrical control system upgrade will improve the stability of the quay cranes, reduce failure rates, and lower daily maintenance costs [1] - These upgrades are expected to enhance the competitiveness of Pacific International Company's terminal operations, thereby creating greater benefits for the group [1]

Company News - SF Holding (06936.HK) reported a total revenue of 27.173 billion yuan for its express logistics, supply chain, and international business in November, representing a year-on-year growth of 7.85%. The express logistics business revenue grew by 9.88%, with a business volume increase of 20.13% [2] - Capital Investment (02324.HK) expects to achieve an unaudited consolidated net profit of approximately 115 million to 140 million HKD for the fiscal year ending September 30, 2025, marking a turnaround from losses, primarily due to the performance of listed equity investments [2] - Tianqi Lithium (09696.HK) has completed the construction of the third phase of its chemical-grade lithium concentrate expansion project and has officially commenced trial production [2] - Qingdao Port (06198.HK) plans to purchase two assets from the Qingdao Shipping Financial Center for the development of a cruise port [2] - CanSino Biologics (06185.HK) has initiated Phase I clinical trials for its DTCP–HIb–MCV4 combined vaccine and completed the enrollment of the first subject [2] - Fuhong Hanlin (02696.HK) received approval from the U.S. Food and Drug Administration for its application for the Phase I clinical trial of HLX18, a biosimilar to Nivolumab for the treatment of various solid tumors [2] - China National Nuclear Corporation (01763.HK) announced that its subsidiary, CNNC Haidewei, has received clinical approval for its BNCT boron drug [2] - Hisense Home Appliances (00921.HK) subscribed to a financial product from Jingu Trust for 1.892 billion yuan [2] Acquisition and Disposal - Evergrande Property (06666.HK) has received several updated non-binding offers from selected bidders, which the liquidators are currently considering [3] - Ruian Construction (00983.HK) has completed the sale of Ruian Property Management Services Co., Ltd. [4] - Tianjin Port Development (03382.HK) plans to purchase ten gantry cranes for 185 million yuan [5] Buyback Activities - Tencent Holdings (00700.HK) repurchased 1.036 million shares at a cost of 636 million HKD, with buyback prices ranging from 607 to 617 HKD [5] - Xiaomi Group-W (01810.HK) repurchased 3.75 million shares for 152 million HKD, with buyback prices between 40.42 and 40.56 HKD [6] - COSCO Shipping Holdings (01919.HK) repurchased 3.9655 million shares for 53.6689 million HKD, with buyback prices ranging from 13.47 to 13.73 HKD [6] - Kuaishou-W (01024.HK) repurchased 755,000 shares for 49.9509 million HKD, with buyback prices between 65.4 and 66.6 HKD [7]

智通财经APP讯，天津港发展(03382)发布公告，于2025年12月19日，太平洋国际公司(本公司的附属公 司)，与金岸重工公司就岸桥自动润滑系统改造项目订立岸桥自动润滑系统改造合同，代价为人民币 473.1万元(含税)。 于2025年12月19日，太平洋国际公司亦与金岸重工公司就岸桥电控系统升级改造项目订立岸桥电控系统 升级改造合同，代价为人民币699万元(含税)。 透过岸桥自动润滑系统改造项目，太平洋国际公司的岸桥将实现定时定量添加润滑油，无需占用维保时 间，无需人员操作，并且能够确保润滑油加注充足，减少后期故障及加注污染;透过岸桥电控系统升级 改造项目，太平洋国际公司可提高其岸桥稳定性，降低故障率和日常维修成本。因此，透过订立该等改 造合同，能增强太平洋国际公司码头的竞争力，从而为本集团创造更大效益。 ...

格隆汇12月19日丨天津港发展(03382.HK)公告，于2025年12月19日，太平洋国际公司(公司的附属公 司)，与金岸重工公司就岸桥自动润滑系统改造项目订立岸桥自动润滑系统改造合同，代价为人民币 4,731,000元(含税)。 于2025年12月19日，太平洋国际公司亦与金岸重工公司就岸桥电控系统升级改造项目订立岸桥电控系统 升级改造合同，代价为人民币6,990,000元(含税)。 ...

格隆汇12月19日丨天津港发展(03382.HK)公告，于2025年12月19日，太平洋国际公司(公司的附属公 司)，与金岸重工公司就岸桥自动润滑系统改造项目订立岸桥自动润滑系统改造合同，代价为人民币 473.1万元(含税)。 于2025年12月19日，太平洋国际公司亦与金岸重工公司就岸桥电控系统升级改造项目订立岸桥电控系统 升级改造合同，代价为人民币699万元(含税)。 ...

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。 (股份代號：03382) 關連交易 改造合同 岸橋自動潤滑系統改造合同 於 2025 年 12 月 19 日，太平洋國際公司（本公司的附屬公司），與金岸重工公司就岸橋自 動潤滑系統改造項目訂立岸橋自動潤滑系統改造合同，代價為人民幣 4,731,000 元（含稅）。 岸橋電控系統升級改造合同 於 2025 年 12 月 19 日，太平洋國際公司亦與金岸重工公司就岸橋電控系統升級改造項目訂 立岸橋電控系統升級改造合同，代價為人民幣 6,990,000 元（含稅）。 上市規則的涵義 (於開曼群島註冊成立之有限公司) 金岸重工公司為天津港集團公司（本公司的控股股東）的附屬公司，因此為本公司的關連 人士。故此，該等交易構成上市規則第 14A 章下本公司的關連交易。 由於該等交易的最高適用百分比率（定義見上市規則）按合併基準計算超過 0.1%但低於 5%，該等交易僅須遵守上市規則第 14A 章有關申報及公告的規定， ...

物泽物流公司的口岸危化品智慧监管平台建设，为交钥匙工程，范围涵盖集装箱智能监控与管理系统的 建设及相应前端摄像机及后端机房支撑环境建设的设计、采购、施工、培训及质量保证期售後服务，包 括满足管控能力提升的视讯前端点位、机房基础设施、网路及安全、技术支援环境，以及相关平台软体 开发。卖方须根据招标文件的规格要求，提供相关服务包括合同设备、技术服务及质量保证期服务。 格隆汇12月19日丨天津港发展(03382.HK)公告，于2025年12月19日，物泽物流公司(公司的附属公司)与 信息公司就平台建设项目订立平台建设合同，代价为人民币31,865,892元(含税)。 ...

天津港（600717）发展(03382)公布，于2025年12月19日，物泽物流公司(公司的附属公司)与信息公司就 平台建设项目订立平台建设合同，代价为人民币31,865,892元(含税)。 公告称，透过订立平台建设合同，物泽物流公司可加强和提升对危化品的管控能力和管理水平，实现集 装箱作业区域的全域化、可视化、智能化管控需求，通过智能化、信息化手段加快智慧化建设，降低物 流成本、提高运行效率，增强物泽物流公司竞争力，从而为集团创造更大效益。 ...

提名委員會（「委員會」）職權範圍 成員 1. 委員會由天津港發展控股有限公司（「本公司」）董事（「董事」）會（「董事會 」）不時委任的至少三名成員組成。委員會大多數成員須為獨立非執行董事，並應 由至少一名不同性別的董事組成。 2. 委員會主席（須為董事會主席或獨立非執行董事）應由董事會委任。 3. 委員會秘書（「秘書」）應由本公司的公司秘書出任。 會議次數及議事程序 職責、權力及職能 (於2025年12月19日修訂) 1 4. 委員會每年須召開會議至少一次；若因工作需要，委員會應召開額外會議。 5. 委員會主席可自行決定召開額外會議。 6. 會議的法定人數應為兩名委員會成員。具法定人數正式召開的委員會會議應有權行 使委員會所獲賦予或可行使的全部或任何授權、權力及酌情權。 7. 委員會於履行職責時，須充分考慮以下原則： (a) 董事會應根據本公司業務而具備適當所需技巧、經驗及多樣化觀點與角度，並 應確保各董事能按其角色及董事會職責向本公司投入足夠時間並作出貢獻。委 員會應確保董事會組成的變動不會帶來不適當的干擾。董事會中執行董事與非 執行董事（包括獨立非執行董事）的組合應該保持均衡，以使董事會上有強大 的獨立元 ...