Core Viewpoint - Sinochem Fertilizer (00297) has announced the signing of an EPC contract for the electrical and instrumentation equipment upgrade project, with a total cost not exceeding RMB 31 million [1][2]. Group 1: Project Details - The EPC contract involves Sinochem Yunlong commissioning Zhonglan Lianhai and Yunnan Qiangshi for design, procurement, construction, installation, and commissioning of the electrical and instrumentation equipment upgrade project [1]. - The electrical upgrade includes replacing 10kV incoming cables, transformers, and low-voltage distribution cabinets across various distribution rooms, as well as the removal of existing equipment [1]. - The instrumentation upgrade involves replacing control cabinets, relocating distributed control system (DCS) cabinets, and removing old cables and protective conduits [2]. Group 2: Board Approval - The board of directors, including independent non-executive directors, considers the EPC contract transaction to be conducted on normal commercial terms and in the overall interest of the company and its shareholders [2]. - No directors are deemed to have a significant interest in the EPC contract, thus they are not required to abstain from voting on the board resolution for its approval [2].

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之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 中化化肥控股有限公司 ( 於百慕達註冊成立之有限公司 ) (股份代號：297) 公告 無害化磷石膏回填利用項目總承包合同下 之關連交易 根據國家部委發佈的《推進磷資源高效高值利用實施方案》，要求各相關單位於二零二 六年實現磷石膏100%無害化處理，綜合利用率達到65%。為貫徹落實相關政策要求，本 公司之間接非全資附屬公司中化涪陵正積極推進配套磷石膏無害化處理裝置建設；同 時，中化涪陵暫儲場北側存在天然坑窪地，導致其整體土地利用率有限。鑒於此，中化 涪陵擬開展無害化磷石膏回填利用項目，並根據相關要求組織公開招標，確定中藍連海 及浙江拓海為聯合中標人。 董事會宣佈，於二零二五年十一月十三日，中化涪陵與中藍連海及浙江拓海訂立回填利 用總承包合同，據此，中化涪陵已委託中藍連海及浙江拓海承擔對無害化磷石膏回填利 用項目的設計、採購及施工等工作，總代價為人民幣62,644,158.09元。 上市規則之涵義 中國中化 ...

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之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 SINOFERT HOLDINGS LIMITED 中化化肥控股有限公司 ( 於百慕達註冊成立之有限公司 ) (股份代號：297) 公告 電氣、儀錶設備更新改造項目EPC總承包合同下 之關連交易 本公司之間接全資附屬公司中化雲龍的化學脫氟、脫砷、氟鹽、磷酸二氫鈣（MCP） 工段電氣設備設施自投入運行至今時間較久，性能下降，可靠性降低。為確保安全運 行，中化雲龍計劃開展電氣、儀錶設備更新改造項目，並根據相關要求進行了公開招 標，確定中藍連海及雲南強世為聯合中標人。 董事會宣佈，於二零二五年十一月十三日，中化雲龍與中藍連海及雲南強世訂立電 氣、儀錶設備更新改造項目EPC總承包合同，據此，中化雲龍已委託中藍連海及雲南 強世承擔對電力、儀錶設備更新改造項目的設計、採購、施工、安裝及調試等工作， 總代價最高不超過人民幣31,000,000元。 上市規則之涵義 中國中化為本公司最終控股股東，間接持有本公司已發行股份 ...

Core Insights - The "Technology + Cultural and Tourism Integration Development" promotional event for Beijing's Dongcheng District was held in Hong Kong as part of the 28th Beijing-Hong Kong Economic Cooperation Symposium, gathering nearly a hundred representatives from government, academia, and business sectors to explore new development opportunities between Beijing and Hong Kong [1][3]. Group 1: Event Overview - The promotional event featured a theme of "Digital Intelligence Leading the Way, Cultural Heritage Renewed," including segments such as thematic presentations, keynote speeches, and project signings [1][3]. - A promotional video titled "See the Future in Dongcheng" showcased the district's development landscape, highlighting its unique advantages and broad cooperation opportunities, emphasizing a livable and workable urban experience [1]. Group 2: Investment Opportunities - Dongcheng District introduced investment opportunities and development policies in key areas such as technological innovation, healthcare, commercial consumption, and cultural tourism integration [3]. - The district presented 12 premium space resources, including 4 core land plots, 4 urban renewal projects, and 4 quality commercial buildings, inviting Hong Kong partners for collaborative development [3]. Group 3: Statements from Officials - The Director of Beijing's Investment Promotion Service Center expressed the district's commitment to deepening the integration of commerce, tourism, culture, and technology, aiming for collaboration with Hong Kong in key sectors like fintech, digital economy, and cultural creativity [3]. - The Deputy Secretary for Commerce and Economic Development of the Hong Kong SAR Government emphasized Hong Kong's role as a leading international financial, shipping, and trade center, capable of connecting Dongcheng's products with international markets and attracting overseas investment for the district's development [3]. Group 4: Collaboration Agreements - During the event, China Resources Wufeng Co., Ltd. and Guoshengtang Co., Ltd. signed cooperation agreements with Dongcheng District, marking a significant step in economic cooperation between Beijing and Hong Kong [5].

Core Viewpoint - The Jiangsu Provincial Department of Industry and Information Technology has announced the preparation for the expansion of the Lianyungang Petrochemical Industrial Base, which is one of the seven major petrochemical industrial bases in China [1] Summary by Relevant Sections Expansion Details - The current planned area of the Lianyungang Petrochemical Industrial Base is 61.34 square kilometers, with an additional planned area of 9.8 square kilometers for the expansion [1] - The expansion area is defined by the boundaries: east to National Highway 228, south to No. 9 Road, west to Jinkang Road, and north to Taihe Road [1] - After the expansion, the total area will be 71.14 square kilometers, divided into two sections [1] Industry Structure - The Lianyungang Petrochemical Industrial Base has established an industrial structure characterized by "refining and chemical integration + high-end new materials + green energy" [1] - The base has attracted three leading enterprises, including: - Shenghong's refining and chemical integration project, representing the "aromatic and olefin" dual-chain petrochemical industry [1] - The high-end petrochemical industry chain represented by the Lianyungang Petrochemical Light Hydrocarbon Comprehensive Utilization Project, invested by Satellite Chemical [1] - The Sinochem Lianyungang Circular Economy Industrial Park, which utilizes upstream and downstream products within the base to form a mutually supportive composite industrial chain [1]

Industry Overview - The global potassium fertilizer market is experiencing a tightening supply-demand balance, leading to a steady increase in price levels, with the average domestic price of potassium chloride reaching 3237 RMB/ton as of November 10, reflecting a year-to-date increase of 28.66% and a year-on-year increase of 34.37% [1] - The industry gross profit for potassium chloride was reported at 1164 RMB/ton as of November 7, with an increase of approximately 400 RMB per ton compared to the same period last year [1] - Global potassium fertilizer demand is expected to grow at a compound annual growth rate (CAGR) of 3.2% from 2025 to 2027, driven by population growth and increasing focus on food security [1][2] - Limited new production capacity is anticipated until the end of 2026, with existing major producers facing increased mining costs, suggesting sustained high demand in the mid-term [1] Company Insights - **Migo Group (09879)**: Ranked fourth among Chinese potassium fertilizer companies, Migo Group has comprehensive capabilities in procurement, manufacturing, processing, and sales, providing a wide range of fertilizers [3] - **Sinochem Fertilizer (00297)**: Reported a 6% year-on-year increase in net profit for the first three quarters of 2025, with revenue of approximately 19.373 billion RMB and net profit of about 1.364 billion RMB [3] - **China Heart-to-Heart Fertilizer (01866)**: Achieved revenue of 17.96 billion RMB in the first three quarters of 2025, a 3.1% increase year-on-year, but experienced a 12.8% decline in adjusted net profit due to lower urea prices and production constraints from maintenance [4] - **China National Offshore Oil Corporation Chemical (03983)**: A leading company in the domestic fertilizer and methanol industry, with a total designed capacity of 1.84 million tons of urea and significant investments in phosphate resources [5]

Industry Overview - The global potassium fertilizer market is experiencing a tightening supply-demand balance, leading to a steady increase in price levels, with the average domestic price of potassium chloride reaching 3,237 RMB/ton as of November 10, reflecting a 28.66% increase year-to-date and a 34.37% increase year-on-year [1] - The gross profit margin for the potassium chloride industry was reported at 1,164 RMB/ton as of November 7, with an increase of approximately 400 RMB per ton compared to the same period last year [1] - Global potassium fertilizer demand is expected to grow at a compound annual growth rate (CAGR) of 3.2% from 2025 to 2027, driven by population growth and increasing focus on food security [1][2] - Limited new production capacity is anticipated until the end of 2026, with existing major producers facing increased mining costs, suggesting sustained high demand for potassium fertilizers in the medium term [1] Company Insights - **Migo Group (09879)**: Ranked fourth among Chinese potassium fertilizer companies by sales volume in 2023, Migo Group is a comprehensive supplier capable of providing a full production line of fertilizers, including potassium chloride and compound fertilizers [3] - **Sinochem Fertilizer (00297)**: Reported a 6% year-on-year increase in net profit for the first three quarters of 2025, with revenue of approximately 19.373 billion RMB and net profit of about 1.364 billion RMB. The company has renewed a cooperation memorandum with Jordan's Arab Potash Company for potassium fertilizer sales in China [3] - **China Heart-to-Heart Fertilizer (01866)**: Achieved revenue of 17.96 billion RMB in the first three quarters of 2025, a 3.1% increase year-on-year, but experienced a 12.8% decline in adjusted net profit due to lower urea prices and production constraints from maintenance activities [4] - **China National Offshore Oil Corporation Chemical (03983)**: A leading company in the fertilizer and methanol industry, with a total designed capacity of 1.84 million tons of urea and significant production bases across several provinces [5]

Core Insights - The headquarters of major Chinese energy companies, including China Huaneng and China Sinochem, are relocating to Xiong'an New Area, indicating a significant shift in the energy sector's operational landscape [1] - The construction of headquarters for China Datang and China Huadian is accelerating, showcasing the rapid development of energy enterprises in the region [1] - More than ten energy-related central enterprises, such as China National Nuclear Corporation and China National Petroleum Corporation, are establishing subsidiaries or innovative business units in Xiong'an, highlighting the area's growing importance [1] Group 1 - Xiong'an New Area is facilitating the relocation of energy central enterprises, demonstrating a "speeding up" in the process of economic restructuring [1] - The concentration of headquarters in Xiong'an is leading to a noticeable agglomeration effect in the headquarters economy, which is beneficial for the overall energy sector [1] - A collaborative development pattern is emerging, characterized by "central enterprise headquarters + research and development bases + supporting enterprises" in the green energy industry [1]

Core Insights - Xiong'an New Area is transitioning from a grand blueprint to a tangible city with the establishment of central enterprise headquarters and high-tech industry clusters, marking a significant phase in its development [3][4] - The focus of Xiong'an's development has shifted towards high-quality construction, high-level management, and effective functional relief from Beijing, emphasizing a solid foundation for future growth [3][5] Industry Development - Over 200 high-tech enterprises have settled in Xiong'an, with key industries including satellite internet, artificial intelligence, and new materials being prioritized for development [4][6] - The aerospace information and satellite internet sectors are identified as foundational industries, with 62 companies already established in the aerospace information field [6] Ecological Progress - Xiong'an has implemented an ecological-first approach, achieving a forest coverage rate increase from 11% to 35% and planting 481,000 acres of trees as part of the "Thousand-Year Forest" project [8] - The water quality of Baiyangdian has remained stable at Class III for four consecutive years, with significant improvements in biodiversity, including an increase in wild bird species [8] Social Development - Xiong'an is enhancing public services, including education, healthcare, and elderly care, while creating job opportunities through traditional industry upgrades, providing over 400,000 job openings [9] - The area is actively promoting urban-rural integration and has established various agricultural and digital innovation centers [9] Urban Planning and Infrastructure - Xiong'an is developing a comprehensive transportation network and utilizing underground space to alleviate urban issues, aiming to create a future city without "urban diseases" [11][12] - As of now, Xiong'an has developed nearly 215 square kilometers, with a total construction area of 55.88 million square meters and 5,127 buildings completed [12]

记者 | 金珊 编辑 | 江佩霞 11月7日，港股下午开盘，恒生指数、恒生科技指数跌幅略微收窄。截至13:50，恒生指数跌1.05%，恒生科技指数跌1.96%。 | | | | 腾讯音乐-SW | 86.000 | -3.15% | | --- | --- | --- | | 1698.HK | | | | 金蝶国际 | 14.720 | -3.03% | | 0268.HK | | | | 金山软件 | 31.840 | -2.57% | | 3888.HK | | | | 京东集团-SW | 123.700 | -2.52% | | 9618.HK | | | | 腾讯控股 | 628.500 | -2.41% | | 0700.HK | | | 另一方面，化工板块午后走势强劲，彩客新能源涨超12%，龙蟠科技涨超11%；有色金属板块继续走强，天齐锂业涨超5%。 | 资料 成分 | 资讯 | 相关基金 | 月度收益 | | | --- | --- | --- | --- | --- | | 名称 | | 现价 | 涨跌幅÷ | | | 彩客新能源 | | 0.810 | 12.50% | -1. | | 1 ...