Core Viewpoint - UBS has set a target price of HKD 24 for MTR Corporation (00066) and assigned a "Sell" rating, reflecting concerns over the company's long-term prospects despite a positive short-term reaction to a recent tender result [1] Group 1: Project Details - MTR Corporation announced that the contract for the first phase of the Tuen Mun Area 16 property development project has been awarded to Sun Hung Kai Properties (00016) [1] - The total gross floor area of the project is 601,000 square feet, expected to provide approximately 1,280 residential units [1] - The total investment for the project is estimated at HKD 6 billion, translating to a land price of about HKD 9,983 per square foot [1] Group 2: Financial Projections - Assuming the average selling price reaches the current level of similar projects in the area, specifically HKD 12,750 per square foot, the overall development gross margin is projected to be around 22% [1] - After profit sharing with MTR, the actual development profit margin for Sun Hung Kai is estimated to be about 15% [1] - The overall land cost is estimated at HKD 4,300 per square foot, which is 12% higher than the price paid by Sino Land (00083) for a similar project in August, but 23% lower than previous estimates [1] Group 3: Market Reaction and Long-term Outlook - UBS anticipates a positive market reaction to the tender results for MTR Corporation's stock [1] - However, the firm remains cautious about the company's long-term outlook due to significant capital expenditure requirements from new railway projects and rising interest expenses [1] - The attractiveness of MTR's land reserves outside the Tuen Mun South Line, such as Tung Chung East, Siu Ho Wan, and North District, is considered low [1]

Core Viewpoint - UBS reports that MTR Corporation's Tuen Mun District 16 Station Phase 1 property development contract has been awarded to Sun Hung Kai Properties, with a total floor area of 601,000 square feet, expected to provide approximately 1,280 residential units [1] Summary by Category Project Details - The total investment for the project is HKD 6 billion, translating to a land price of approximately HKD 9,983 per square foot [1] - If the average selling price reaches the current level of similar projects in the area, specifically at HKD 12,750 per square foot, the overall development gross margin is estimated to be around 22% [1] Financial Implications - After profit sharing with MTR, Sun Hung Kai's actual development profit margin is approximately 15% [1] - UBS anticipates a positive market reaction to MTR's tender results, but maintains a cautious outlook on the company's long-term prospects due to significant capital expenditure requirements from new railway projects and rising interest expenses [1] Target Price and Rating - UBS sets a target price of HKD 24 for MTR Corporation and assigns a "Sell" rating [1]

Group 1 - The announcement states that Mr. Lu Jia-jian will no longer serve as the alternate director for Mr. Xu Zhengyu, the non-executive director of the company, effective from November 6, 2025 [1]

Core Points - 港铁公司 announced that Mr. Lu Jia-jian will no longer serve as a non-executive director starting from November 6, 2025 [1] - Mr. Xu Zheng-yu, the Secretary for Financial Services and the Treasury, will take over as the replacement director [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分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。 MTR CORPORATION LIMITED 香港鐵路有限公司 （「本公司」 ） （ 於香港成立之有限公司 ） (股份代號﹕ 66) 替任董事之辭任 董事局成員 ：歐陽伯權博士 （主席） **、金澤培博士 （行政總裁） 、包立賢*、陳振 彬博士*、鄭恩基*、許少偉*、劉麥嘉軒*、李惠光*、吳永嘉*、孫淑貞*、唐家成 博士*、黃幸怡*、黃冠文*、黃慧群教授*、許正宇（財經事務及庫務局局長）**、 運輸及物流局局長（陳美寶）**、發展局常任秘書長（工務）（劉俊傑）**及運輸署 署長（李頌恩）** 執行總監會成員 ﹕ 金澤培博士、楊美珍、鄭惠貞、蔡少綿、鄧輝豪、樊米高、馬琳、 鄧智輝及黃琨暐 本公告以英文及中文發出。中、英文版如有任何歧義，概以英文版為準。 * 獨立非執行董事 ** 非執行董事 本公司宣 布 陸嘉健先生 自 2 0 2 5 年1 1 月6 日 起 不 再擔任 本公司非執行董事許正宇 先生（財 ...

| 截至月份: | 2025年10月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 香港鐵路有限公司 | | | 呈交日期: | 2025年11月5日 | | | I. 法定/註冊股本變動 | 不適用 | | 第 1 頁 共 10 頁 v 1.1.1 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 FF301 FF301 III.已發行股份及/或庫存股份變動詳情 II. 已發行股份及/或庫存股份變動 (A). 股份期權（根據發行人的股份期權計劃） 不適用 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00066 | 說明 | 不適用 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 6,22 ...

Core Viewpoint - MTR Corporation (00066) announced the appointment of Mr. Kwong Wing Chuen as the Director of Hong Kong Passenger Services, effective from January 28, 2026 [1] Company Summary - Mr. Kwong will also become a member of the Executive Directorate from the same date [1]

Core Points - 港铁公司 announced the appointment of Mr. Kwong Wing Chuen as the Director of Hong Kong Passenger Services, effective from January 28, 2026 [1] - Mr. Kwong will also become a member of the company's Executive Directorate from the same date [1]

Core Viewpoint - MTR Corporation (00066.HK) announced the appointment of Kwong Wing Chuen as the Director of Hong Kong Passenger Services, effective from January 28, 2026. He will also become a member of the Executive Directorate from the same date [1] Group 1 - MTR Corporation is making a significant leadership change with the appointment of a new director [1] - The new director will take on responsibilities related to Hong Kong passenger services [1] - The effective date for this appointment is set for January 28, 2026 [1]

香港鐵路有限公司 （「本公司」 ） （於香港成立之有限公司） (股份代號﹕ 66) 委任執行總監會成員 MTR CORPORATION LIMITED 本公司欣然宣布，鄺永銓先生將獲委任為本公司香港客運服務總監，自 2026 年 1 月 28 日 起生效。他亦將於同日起成為本公司執行總監會成員。 本公司欣然宣布，鄺永銓先生將獲委任為本公司香港客運服務總監，自 2026 年 1 月 28 日 起生效。他亦將於同日起成為本公司執行總監會成員。 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分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。 鄺先生已與本公司訂立一份服務合約，任期由 2026 年 1 月 28 日起為期三年。其服務合約 上註明的酬金為每年 6,168,000 港元（該金額並未包括酌情發放的非固定酬金）。此外，鄺 先生將有資格獲得酌情發放與表現及本公司認為相關的其他因素掛鈎的非固定酬金。他亦 有資格參與本公司的行政人員股份奬勵計劃。鄺先生的酬金是由本公司的薪酬委員會按其 職責、經驗及資歷而釐 ...