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 | 截至月份: | 2026年2月28日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | Swire Pacific Limited 太古股份有限公司 | | | 呈交日期: | 2026年3月2日 | | | I. 法定/註冊股本變動 不適用 | | | | 備註： | | | | Swire Pacific Limited 太古股份有限公司 (「公司」) 並無法定股本，及其股本並無股份面值。 | | | FF301 第 1 頁 共 11 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 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) 00019 說明 A股 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 778,988,000 0 778,988,000 增加 / 減少 (-) 0 0 本月底結存 778,988,000 0 77 ...

CMBI Credit Commentary Fixed Income Daily Market Update 固定收益部市场日报 Trading desk comments 交易台市场观点 Last Friday, the new SUMITR Float 29s tightened 6bps from RO at SOFR+71, and SUMITR Float 31s tightened 15bps from RO at SOFR+89. As for fixed- rate SUMITR new issues, SUMITR 29s were unchanged from RO at T+53, SUMITR 31s tightened 6bps, and SUMITR 36s were 5bps wider amid heaving selling. In Chinese IG space, belly-to-long-end TMT names LENOVO/XIAOMI/JD/KUAISH/MEITUA faced concentrated selling and widened 1-6bps ...

荔湾区将工商并举推动产业焕新升级。千方百计提振消费，强化广州聚龙湾太古里、华润万象城等消费 新地标引领作用，做优做强白鹅潭世界级地标商圈，全面提升陈家祠等5个特色商圈能级，构建"1+5"商 圈发展新格局。多策并举扩大有效投资，加快如意大道等170个重点项目建设，推进储备项目尽快转成 实施项目。大力发展现代都市工业，优化烟草、医药等重点行业稳增长措施，培育壮大激光与增材制 造、现代中药和高端医疗器械两个重点产业集群。前瞻布局未来产业，积极拓展人工智能在城市治理、 医疗、养老等社会领域的融合应用，规划建设"人工智能+城市服务"示范体系。夯实产业发展要素支 撑，深入实施产业载体建设攻坚行动，增加高质量科技供给，扎实推进"百万英才汇南粤"行动计划。下 力气开展招商引资，完善全区招商"一盘棋"工作格局，依托龙头企业、重点项目招引上下游企业。营造 一流营商环境，健全安商暖企长效机制，推动惠企政策兑现"一网通办"，"一企一策"多级联动为企业纾 困解难。 羊城晚报讯 记者马思泳、通讯员荔宣报道：近日，广州市荔湾区召开区高质量发展大会，以"城市更新 引领，工商并举兴区"为主题。荔湾区将牢牢抓住城市更新、工商并举这两个重点，让城 ...

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。 SWIRE PACIFIC LIMITED 太古股份有限公司 （於香港註冊成立的有限公司） （股份代號：00019 及 00087） 1. 於二零二六年二月二十七日，CCI 與 TNT 訂立一份協議備忘錄，據此，雙方同 意即時終止越南股本轉讓協議，並相互免除各自在該協議項下之義務及責任， 惟不包括在終止日期前已發生的任何違反該協議的行為；及 2. 於二零二六年二月二十七日，SCCL（緊接 CCI 股份買賣協議（定義見下文）交 割前為 CCI 之唯一股東）與 ThaiNamthip Holdings Limited（「TNH」）（為 TNT 持 股約 99.99% 的附屬公司*）訂立股份買賣協議（「CCI 股份買賣協議」）；據此， SCCL 同意向 TNH 出售越南附屬公司之唯一股東 CCI 30%（即 260,020,890 股股 份）的股本，作價約 2.211 億美元（相等於約 17.246 億港元* ...

2026年2月25日，广州马年开年重磅土拍——天河马场核心地块限时竞价圆满落槌。竞价的重要参与者之一珠江实业表示，此次参与竞价，是企业主动投 身高能级项目开发竞争，以国企担当助力土拍市场活力攀升，为房地产市场提质增效贡献重要力量。 南方+记者 周中雨 其进一步指出，未来，将紧扣高质量发展大会的要求部署，持续为广州房地产市场高质量发展贡献力量，为广州实现老城市新活力、"四个出新出彩"持续 注入珠实动能。 虽然没能竞得马场地块，但珠江实业在广州多地已有布局，包括与太古集团合作开发聚龙湾太古里高端商业区，在广州国际金融城核心板块也手握优质地 块资源。 ...

珠江实业金融城项目坐拥金融城东区黄金滨水岸线，区位与配套优势显著。项目将打造高端复合型滨水 住区，"筑巢引凤"厚植金融城沃土，有效促进金融城从产业集聚向"职住平衡、功能复合"的产城融合高 级阶段迈进，为区域可持续发展注入鲜活人居动力，进一步支撑珠金琶核心区功能升级与能级跃升，以 实实在在的项目建设服务城市发展、满足民生需求。 2月25日，广州马年开年重磅土拍——天河马场核心地块限时竞价圆满落槌，成为广州土地市场的一次 标志性盛事。本次土拍吸引了保利、华润、越秀、珠江实业、广州地铁、广州建筑、广州城投、招商等 多家头部房企参与，现场竞价火爆，历经243轮激烈角逐，最终以超236亿元总价成交，展现出市场对广 州核心区域价值的坚定信心，为城市高质量发展注入强劲动能。 天河马场地块地处"珠金琶"黄金三角核心，是广州中央活力区稀缺优质开发资源，区域优势突出、配套 成熟、规划高端。其开发建设将有力推动珠江新城增强国际影响力，助力"珠金琶"核心区打造文体生 活、国际消费、新兴科创三大标杆，是城市价值与产业活力双向提升的生动体现。 作为颐德公馆、岭南公馆等广州地标豪宅的缔造者，并与太古集团合作开发聚龙湾太古里高端商业区的 广 ...

Market Overview - The Hong Kong stock market indices experienced a collective decline, with the Hang Seng Index falling by 1.1% to 26,413.35 points, the Hang Seng Tech Index down by 0.9%, and the National Enterprises Index decreasing by 1.55% [1][8] - Technology stocks saw widespread losses, with Baidu dropping over 6%, Alibaba nearly 5%, and Tencent over 2% [1][8] Sector Performance - Despite the overall market downturn, large model and robotics concept stocks surged, with Zhihui rising nearly 43%, MINIMAX increasing over 14%, and both companies' market capitalizations surpassing HKD 300 billion [1][8] - Other notable gains included Yujian up over 21%, Shoucheng Holdings nearly 12%, Sanhua Intelligent Control over 5%, and UBTECH close to 5% [1][8] Real Estate Sector - Some local real estate stocks showed strength, with Hysan Development and Swire Properties B rising over 3%, and Crown Property Trust and Hang Lung Properties increasing over 2% [2][9] - Analysts from Goldman Sachs have upgraded their forecast for Hong Kong property prices from a 5% increase to a 12% increase for the year, citing favorable government visa and immigration policies, a 20% rise in rents over the past three years, and lower mortgage rates encouraging residents to consider buying instead of renting [2][9] Robotics and AI Sector - The robotics sector saw significant growth, with Yujian rising over 19%. The recent CCTV Spring Festival Gala showcased various humanoid robot startups, contributing to heightened interest in the sector [3][10] - Douyin e-commerce reported a staggering 1680% year-on-year increase in GMV for robot products from February 16 to 18, with order volume up 655% [5][12] - AI application stocks also performed well, with Zhihui increasing over 19% following the announcement of a "computing power partner" recruitment plan aimed at optimizing their GLM-5 model [6][14]

高盛根据最新楼价预测及未来新盘推售时间表，调整香港地产股2025至2027年核心每股盈利预测，由下 调15%至上调33%不等。其中，高盛将恒地及信置(0083.HK)评级，由"沽售"一举升至"买入"，因两者更 能受惠于住宅市场上升周期，恒地目标价大升102%至39港元，信置目标价升95%至14.6港元。该行并重 申新地的"买入"评级，目标价升66%至159港元；3家公司的单位库存占市场整体约36%，并有不同新项 目正在推进。高盛将长实评级由"买入"降至"中性"，因其香港物业市场敞口较小，目标价升10%至53港 元。此外，高盛调低九龙仓置业(1997.HK)评级，由"买入"降至"沽售"，领展(0823HK)评级则由"买 入"下调至"中性"，因两者对零售业敞口较大，且各自面临特定问题或其他结构性挑战，九置目标价降 7%至28港元，领展目标价则降15%至41.3港元。高盛亦将港铁(0066.HK)评级由"中性"降至"沽售"，惟 升目标价15%至36.1港元。 | 代码 | 名称 | | 涨跌幅 √ | 最新价 | 总市值 | | --- | --- | --- | --- | --- | --- | | 00012 ...

Core Viewpoint - Sumitomo Corp. is currently outperforming its peers in the Conglomerates sector, with a year-to-date performance of 25.2% compared to the sector average of 15.3% [4]. Company Performance - Sumitomo Corp. holds a Zacks Rank of 2 (Buy), indicating a positive earnings outlook [3]. - The Zacks Consensus Estimate for Sumitomo Corp.'s full-year earnings has increased by 0.7% over the past quarter, reflecting stronger analyst sentiment [3]. - The stock has shown a year-to-date return of 25.2%, outperforming the average gain of 15.3% in the Conglomerates group [4]. Industry Context - Sumitomo Corp. is part of the Diversified Operations industry, which includes 15 companies and currently ranks 90 in the Zacks Industry Rank [6]. - The average performance of the Diversified Operations industry has also been 15.3% year-to-date, indicating that Sumitomo Corp. is performing better than its industry peers [6]. - Another notable stock in the Conglomerates sector is Swire Pacific, which has achieved a year-to-date return of 26.9% and also holds a Zacks Rank of 2 (Buy) [4][5].

Summary of Conference Call Notes Industry Overview - The real estate market is expected to experience a "front low and back high" trend in 2026, with two significant turning points anticipated throughout the year [1][3]. - The real estate market and investment continue to face adjustment pressures in 2025 [1][3]. Short-term Strategies - Short-term measures should focus on destocking and boosting demand and confidence to stabilize the market [1][3]. - Support for reasonable financing needs of real estate companies is essential to stabilize investment [1][3]. - Immediate policy interventions are necessary to prevent a sharp market decline [1][3]. Long-term Strategies - In the medium to long term, there is a need to guide real estate companies to actively transform from increasing investment development value to enhancing service operation value [2][3]. - Development models and systems require updates to adapt to changing market conditions [2][3]. Market Dynamics - The ongoing market weakness is primarily due to supply-demand mismatches and weak expectations regarding future housing prices [4]. - Recommendations include: 1. Government side (G-end): Utilize land reserves and urban renewal to absorb supply and create demand [4]. 2. Business side (B-end): Activate existing assets through securitization and restructuring to shift supply [4]. 3. Consumer side (C-end): Adjust administrative, provident fund, and fiscal policies to boost consumer demand and digest supply [4]. Investment Trends - Real estate investment continues to weaken, largely due to significant financial pressures on developers [5]. - Key predictions for 2026 include: 1. Sales area of 810 million square meters, down 8% year-on-year [6]. 2. Average sales price of 9,144 yuan per square meter, down 4% year-on-year [6]. 3. Sales amount of 7.4 trillion yuan, down 12% year-on-year [6]. 4. Investment of 6.9 trillion yuan, down 16% year-on-year [6]. 5. New construction area of 480 million square meters, down 18% year-on-year [6]. 6. Completed area of 490 million square meters, down 19% year-on-year [6]. - The main market contradiction has shifted from "shrinking transaction volume" to "continuously falling prices," particularly in the second-hand housing market [6]. Market Outlook - The decline in the second-hand housing market further impacts the transaction volume of new homes [7]. - Overall liquidity is shrinking, leading to weakened demand that affects developers' investment and subsequently drags down the economy [8]. - 2026 is seen as the beginning of the "14th Five-Year Plan," with expectations for the real estate market to improve under the central economic work conference's goal of stabilizing investment [8]. - Two potential turning points are anticipated: a "policy turning point" around the end of Q1 and a "fundamental turning point" around Q4 [8]. - The "policy turning point" may reflect increased policy enthusiasm on both supply and demand sides, while the "fundamental turning point" will be indicated by a narrowing decline in second-hand housing prices [8]. Investment Recommendations - Despite expected declines in real estate sales, investment, and new construction in 2026, the rate of decline is anticipated to be less severe than in 2025 [8]. - Investment opportunities may arise in the real estate sector throughout 2026, with a focus on companies that have adequately accounted for impairments in 2025, as well as those that have proactively adapted to new business models [11]. - Suggested companies for investment include China Resources, Binjiang, Zhaoshang, Yuexiu, Jianfa, Poly Real Estate, and others involved in new consumption opportunities [11]. Risk Factors - Key risks include policies not being implemented as expected, continued declines in sales and housing prices, and slower-than-expected recovery of market confidence [12].