Summary of Key Points Core Viewpoint The Hong Kong stock market has seen significant activity from September 21 to September 27, with 25 companies submitting prospectuses, 3 companies passing hearings, and 2 new stocks successfully listed. Group 1: Companies Submitting Prospectuses - A total of 25 companies submitted listing applications to the Hong Kong Stock Exchange during the specified period, including major players like 大洋电机, 天赐材料, and 格林美 [2][4][5] - Notably, 12 of these companies have already listed on the A-share market, indicating a trend towards dual listings in both A and H shares [2][4] Group 2: Companies Passing Hearings - Three companies successfully passed hearings: 长风药业, 挚达科技, and 金叶国际 [30] - 长风药业 focuses on biopharmaceuticals for respiratory diseases, with projected revenues of 6.08 billion RMB in 2024 [31] - 挚达科技 is the largest provider of home electric vehicle charging stations globally, with revenues of 5.9 billion RMB in 2024 [32] - 金叶国际 is a long-established electromechanical engineering contractor, specializing in HVAC systems [33] Group 3: Companies in the IPO Process - Five companies are currently in the IPO process, including 长风药业, 紫金黄金国际, 西普尼, 博泰车联, and 奇瑞汽车 [34] - 奇瑞汽车 successfully listed on September 25, with a first-day stock price increase of 13.75% [41][43] Group 4: Financial Performance of Companies - 大洋电机 reported total revenues of approximately 109.3 billion RMB in 2022, with a projected increase to 121.13 billion RMB in 2024 [5] - 天赐材料's revenues were approximately 223.17 billion RMB in 2022, expected to decline to 125.18 billion RMB in 2024 [6] - 格林美's revenues were around 293.92 billion RMB in 2022, projected to reach 332.00 billion RMB in 2024 [7] - 万辰集团, a leading snack and beverage retailer, reported revenues of 5.49 billion RMB in 2022, with a significant increase to 323.29 billion RMB in 2024 [10] Group 5: Market Trends and Insights - The trend of companies seeking dual listings in both A and H shares is becoming more prevalent, reflecting a strategic move to access broader capital markets [2][4] - The overall activity in the Hong Kong IPO market indicates a robust interest from companies looking to capitalize on the favorable market conditions [2][30]

证券代码：600728 证券简称：佳都科技 公告编号：2025-082 重要内容提示： 下述担保无反担保，且属于 2025 年度预计担保范围内的担保事项，为 2025 年度 预计担保事项额度调剂及担保进展。 额度调剂：担保人：佳都科技集团股份有限公司（以下简称"公司"）；被担保 人：公司全资孙公司广州华佳软件有限公司（以下简称"华佳软件"）。 公司为全资子公司及孙公司提供担保，其中，为广州佳都智通科技有限公司（以 下简称"佳都智通"）、广东华之源信息工程有限公司（以下简称"华之源"）、广州 华佳软件有限公司、重庆新科佳都科技有限公司（以下简称"重庆新科"）、广州佳都 技术有限公司（以下简称"佳都技术"）、广州佳众联科技有限公司（以下简称"佳众 联"）、广州佳都电子科技发展有限公司（以下简称"佳都电子"）向招商银行股份有 限公司广州分行（以下简称"招商银行广州分行"）申请授信分别提供不超过 12,000 万 元、5,000 万元、1,000 万元、15,000 万元、2,600 万元、900 万元、9,000 万元的担保；为 佳都智通、华之源向中国银行股份有限公司广州东山支行（以下简称"中国银行广州东 山支行" ...

Core Viewpoint - The Hong Kong Stock Exchange has officially accepted the listing application of Jiadu Technology Group Co., Ltd., a leader in AI-driven smart city transportation solutions in China [1] Group 1: Company Overview - Jiadu Technology focuses on providing a comprehensive range of products and services, including theoretical innovation, technology research, product development, solution application, and integrated services [1] - The company has developed extensive technical capabilities and accumulated vast amounts of real urban traffic data through years of strategic investment and specialized technology and solution development [1] Group 2: Industry Context - The acceleration of global urbanization has led to multiple challenges for traditional transportation systems, including fragmented system construction resulting in data silos, outdated management methods, low management efficiency, high construction and maintenance costs, and insufficient safety and reliability [1] - Traditional transportation products are increasingly unable to meet the demands of modern urban environments, highlighting the need for innovative solutions [1]

Core Insights - The transportation industry serves as a clear window into the progress of urban intelligence, with China's urban passenger volume reaching 1,067.97 billion trips by the end of 2024 [1] - The demand for smarter and more efficient solutions is driven by persistent issues such as congestion and safety hazards, prompting urban managers to seek advanced technologies [1] - JiaDu Technology Group Co., Ltd. has established itself as a leader in AI-driven transportation solutions, focusing on "smart rail transit + smart urban transportation" [1][3] Industry Overview - The Chinese urban transportation system is entering a new phase of digital intelligence upgrade, with "smart rail transit and smart urban transportation" at its core [2] - National policies, such as the "14th Five-Year Plan" and the "Guidelines for the Development of Smart Urban Rail Transit," support the acceleration of smart rail transit system construction [2] - The market for smart urban transportation systems has grown from 62.8 billion yuan in 2020 to an estimated 83.6 billion yuan in 2024, with projections to reach 147.1 billion yuan by 2029 [2] Company Positioning - JiaDu Technology has over 30 years of experience in the smart transportation sector, leveraging proprietary AI models and industrial control technologies [3] - The company has developed a comprehensive product ecosystem covering the entire lifecycle of rail transit systems, including core products like AFC, PSD, ISCS, and communication systems [4] - JiaDu Technology's solutions have been implemented in 45 cities, covering over 110 metro lines and more than 2,200 stations, accounting for one-third of the total metro mileage in China [5] Technological Advancements - The company has created the world's first AI smart station in collaboration with Guangzhou Metro, enhancing operational efficiency and passenger experience [4] - JiaDu Technology's IDPS urban traffic brain solution integrates AI, digital twins, and big data, providing comprehensive governance capabilities across major urban areas [5] - The company's revenue from smart urban transportation solutions reached 2.321 billion yuan by the end of 2024, reflecting a year-on-year growth of 16.75% [6] Competitive Edge - JiaDu Technology's dual-core technology system includes the "Traffic JiaHong" operating system and the "JiaDu ZhiXing" large model, addressing industry challenges such as data silos and operational inefficiencies [7] - The company has a robust R&D team exceeding 2,700 personnel and has filed over 2,000 patents, establishing a strong technological barrier [7] - JiaDu Technology has been recognized in the "2024 Hurun China AI Top 50" and won a silver medal at the 50th Geneva International Exhibition of Inventions, highlighting its innovative capabilities [8] Future Outlook - The company aims to solidify its leading position in the smart transportation industry through its differentiated strategic positioning and advanced technological strength, especially following its anticipated listing on the Hong Kong Stock Exchange [9]

Group 1 - The core point of the article is that Jiadu Technology has submitted an application for H-share listing on the Hong Kong Stock Exchange, aiming to enhance its research and development capabilities and expand its global presence in the intelligent transportation sector [1][2] - Jiadu Technology focuses on the urban transportation industry, utilizing advanced technologies such as artificial intelligence, big data, and digital twins to drive intelligent upgrades in urban traffic systems [1] - The company has established two main business systems: smart rail transit and smart city transportation, positioning itself as a leading provider of AI-driven intelligent urban transportation products and solutions [1] Group 2 - The company plans to use the funds raised from the listing to enhance R&D, address customer pain points, and expand into high-value niche markets within the transportation industry [1] - Jiadu Technology aims to strengthen its localized customer management network and promote an integrated construction and operation model [1] - The company is committed to pursuing a global expansion strategy and seeking strategic cooperation and investment opportunities to support its internationalization efforts in AI technology and smart transportation [2]

Key Points - The article highlights significant corporate announcements and developments in various companies, including investments, contracts, and stock activities [1][2][3] Investment Projects - Zhongchuang Zhiling plans to invest approximately 5 billion yuan to establish a new energy vehicle parts industrial base and R&D center [1] - Fospower Technology intends to set up a project company to invest in the construction of a polyamide-nylon film project [1] - Hongfuhang plans to establish an overseas company and build a photovoltaic energy storage power station project [1] - Nanfang Glass aims to invest in a new photovoltaic glass production line project in Egypt [1] Contracts and Acquisitions - Aerospace Engineering signed a total engineering contract (EPC) worth 2.392 billion yuan [1] - Fuda Alloy plans to acquire 52.61% of Guangda Electronics for 352 million yuan [1] - Yachuang Electronics intends to purchase 40% of Ouchuangxin and 45% of Yihainengda [1] - Century Hengtong plans to acquire 13% of Qiantong Zhili [1] Stock Buybacks and Issuances - Midea Group has spent a total of 5.224 billion yuan to repurchase 1.0193% of its A-shares [1] - Star Technology submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange [2] - Wufangzhai and Jiadu Technology also submitted applications for H-share issuance and listing [3] - Hailan Home plans to issue H-shares and list on the Hong Kong Stock Exchange [3] Shareholding Changes - Several shareholders of Changxin Bochuang plan to collectively reduce their holdings by no more than 2.99% [3] - Xin Haoying of Fengyuzhu plans to reduce his holdings by no more than 3% [3] - Guo Mao, the controlling shareholder of Zaiseng Technology, intends to reduce his holdings by no more than 3% [3] Other Developments - Guanshi Technology plans to raise no more than 700 million yuan for a photomask manufacturing project [1] - Yousheng Co. received project confirmation from a well-known German automotive company [1] - Xianhe Co. plans to raise no more than 3 billion yuan for the second phase of a high-performance paper-based new material project in Sanjiangkou New Area, Guangxi [1]

Core Points - The company has submitted an application for the issuance of overseas listed shares (H-shares) and listing on the Hong Kong Stock Exchange on September 26, 2025 [1][2] - The application materials have been published on the Hong Kong Stock Exchange website and are subject to updates and revisions [1] - The issuance is limited to qualified overseas investors and domestic qualified investors under Chinese laws [1][2] Regulatory Approval - The company's listing application requires approval from the China Securities Regulatory Commission, the Hong Kong Securities and Futures Commission, and the Hong Kong Stock Exchange [2] - There is uncertainty regarding the approval process, and the company will fulfill its information disclosure obligations as the situation progresses [2]

Core Viewpoint - The company, Jiadu Technology (600728.SH), has submitted an application for the issuance of overseas listed shares (H shares) and for listing on the main board of the Hong Kong Stock Exchange on September 26, 2025 [1] Group 1 - The application was filed with the Hong Kong Stock Exchange and the relevant documentation was published on the same day [1] - The application materials were prepared in accordance with the requirements of the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange [1] - The published materials are in draft form and may be updated or revised as necessary [1]

Core Viewpoint - The company, Jiadu Technology (600728.SH), has submitted an application for the issuance of overseas listed shares (H shares) and for listing on the main board of the Hong Kong Stock Exchange on September 26, 2025 [1] Group 1 - The application was filed with the Hong Kong Stock Exchange and the relevant documentation was published on the same day [1] - The application materials were prepared and published in accordance with the requirements of the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange [1] - The published materials are in draft form and may be updated and revised as necessary [1]

证券代码：600728 证券简称：佳都科技 公告编号：2025-081 佳都科技集团股份有限公司 关于向香港联交所递交 H 股发行上市的申请 并刊发申请资料的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并 对其内容的真实性、准确性和完整性承担个别及连带责任。 佳都科技集团股份有限公司（以下简称"公司"）已于 2025 年 9 月 26 日向香港联合 交易所有限公司（以下简称"香港联交所"）递交了发行境外上市股份（H 股）并在香 港联交所主板挂牌上市（以下简称"本次发行上市"）的申请，并于同日在香港联交所 网站刊登了本次发行上市的申请资料。该申请资料为公司按照香港证券及期货事务监察 委员会（以下简称"香港证监会"）及香港联交所的要求编制和刊发，为草拟版本，其 所载资料可能会适时作出更新及修订，投资者不应根据其中的资料作出任何投资决定。 2 https://www1.hkexnews.hk/app/sehk/2025/107710/documents/sehk25092601047_c.pdf 英文链接： https://www1.hkexnews.hk/app/sehk ...