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。 中 遠 海 運 發 展 股 份 有 限 公 司 COSCO SHIPPING Development Co., Ltd.* （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：02866） 海外監管公告 本公告乃根據《香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則》第13.10B條 規 定 而 作 出。 承董事會命 中遠海運發展股份有限公司 公司秘書 蔡 磊 2025年8月29日 於 本 公 告 刊 發 日 期，董 事 會 成 員 包 括 執 行 董 事 張 銘 文 先 生（董 事 長），非 執 行 董 事 梁 岩 峰 先 生、葉 承 智 先 生 及 張 雪 雁 女 士，以 及 獨 立 非 執 行 董 事 邵 瑞 慶 先 ...

Core Viewpoint - The company is optimistic about the future growth of the rare earth industry, driven by increasing demand in various emerging sectors such as wind power, new energy vehicles, humanoid robots, and low-altitude economy [1] Industry Demand Trends - The demand for magnetic materials has been increasing at a rate of approximately 10% in recent years, and this trend is expected to continue into 2025 [1] - Emerging fields such as wind power and new energy vehicles are providing strong support for downstream demand growth [1] - The development of polishing powder industries is anticipated due to the demand from mobile phone cover plates, semiconductors, and chips [1] Future Growth Drivers - Hydrogen storage is expected to see new increments in the context of energy storage development [1] - The permanent magnet motor sector is projected to experience significant growth under the influence of the "two new and two high" policy [1]

Core Points - The Ministry of Transport held a meeting to implement important directives from President Xi Jinping and to discuss various policies and action plans [3][4] - The meeting emphasized the need for a large-scale equipment update in the transportation sector to promote green and low-carbon transformation [3][4] - Collaboration with agricultural departments was highlighted to enhance management and safety measures for fishing vessels [3] Group 1: Policy Implementation - The Ministry reviewed the "Artificial Intelligence + Transportation" implementation opinions and the "One Port, One Policy" action plan for deep integration of container rail-water transport from 2025 to 2027 [3][4] - The meeting stressed the importance of building a unified and open transportation market to enhance the resilience and safety of logistics supply chains [3][4] Group 2: Technological Integration - The meeting called for the promotion of artificial intelligence in the transportation sector, focusing on innovative applications and the development of smart transportation and logistics [4] - It was noted that advancing container rail-water transport is crucial for optimizing transport structure and reducing logistics costs [4]

Summary of Key Points Core Viewpoint - The company has decided to postpone the completion date of the Huase Innovation Center project to June 30, 2026, due to adverse weather conditions affecting construction progress, while ensuring that the project’s implementation subject, funding usage, and investment scale remain unchanged [3][14][16]. Fundraising Overview - The company raised a total of RMB 400 million through the issuance of convertible bonds, with a net amount of RMB 391.61 million after deducting issuance costs [2][3]. - As of June 30, 2025, the total investment in fundraising projects was RMB 391.61 million, with a progress rate of 52.06% [2][3]. Postponement Details - The Huase Innovation Center project’s original completion date was September 1, 2025, which has now been adjusted to June 30, 2026 [3][16]. - The delay is attributed to extreme weather conditions and compliance with environmental regulations, which limited effective construction time [3][14]. Project Re-evaluation - The necessity and feasibility of the Huase Innovation Center project remain unchanged, aligning with national policies on digital technology and green development [4][5][6]. - The project aims to enhance the company’s design and research capabilities, contributing to its long-term strategic goals [13][14]. Implementation Measures - The company will closely monitor the project’s progress and implement a structured plan to ensure timely completion [14][15]. - Dedicated personnel will be assigned to oversee the project, ensuring effective coordination and dynamic control during the implementation phase [14][15]. Internal Decision-Making Process - The postponement was approved by both the board of directors and the supervisory board, confirming compliance with relevant regulations and ensuring no adverse impact on shareholder interests [16][17].

Group 1: Financial Performance - The company's operating cash flow net amount reached 573 million, a year-on-year increase of 99.3%, marking a historical high for the same period [3] - The company's revenue decreased by 17.93% year-on-year in the first half of the year, attributed mainly to a reduction in raw material trading income [3] Group 2: Strategic Initiatives - The company is focusing on "green, low-carbon, and technology" development directions, integrating these principles into its overall business strategy [2] - Plans to enhance high-margin products such as high-end colored woven fabrics and home textile fabrics through governance structure adjustments, smart manufacturing investments, and market expansion efforts [3] Group 3: Project Updates - The domestic intelligent warehousing center project has not yet been initiated [3] - The company is actively developing products and services that align with market trends through quarterly and project-based development [2]

Core Achievements in Metal Materials - The "New Tian Gong Kai Wu - Technology Achievements Release Conference" highlighted China's independent innovation in the metal materials sector, showcasing high-performance rare earth permanent magnet materials, tungsten-copper components for nuclear fusion reactors, and advanced metal porous materials [1][3]. - China has made significant advancements in the metal materials field since the 21st century, establishing itself among the top global players, particularly in high-end metal materials [1][3]. Rare Earth Permanent Magnet Materials - High-performance rare earth permanent magnet materials are essential for high-end equipment in sectors like electric vehicles, wind power, robotics, and aerospace [3]. - The unique "cerium magnet" material developed in China has gained global attention due to its resource adaptability and cost advantages [3][5]. - The Chinese Steel Research Team has achieved four technological breakthroughs in rare earth permanent magnet research, resulting in five series of products with nearly one hundred specifications [5]. Tungsten-Copper Components for Nuclear Fusion - The tungsten-copper filter developed by Antai Technology is crucial for protecting nuclear fusion reactors, capable of withstanding extreme temperatures [5][7]. - The EAST (Experimental Advanced Superconducting Tokamak) has set world records, demonstrating the effectiveness of these materials in nuclear fusion applications [5][7]. - China's advancements in this area position it as a leader in the global nuclear fusion research landscape, contributing significantly to sustainable energy exploration [7]. Advanced Metal Porous Materials - Advanced metal porous materials are being utilized in various industrial applications, including high-grade gasoline production and coal chemical processes, acting as a key component in reducing carbon emissions [8][10]. - These materials possess unique properties such as high porosity, high permeability, and low density, making them suitable for a wide range of industrial uses [8][10]. - The integration of emerging technologies like big data and industrial IoT is expected to enhance the development and lifecycle management of advanced metal porous materials [10].

Core Viewpoint - The article highlights the breakthrough of TCL Huaxing in the field of printed OLED technology, marking a significant shift in China's display industry from a follower to a leader on the global stage [3][5]. Group 1: Printed OLED Technology - TCL Huaxing has developed a full range of printed OLED products, covering sizes from 6.5 inches to 65 inches, and has achieved the highest number of patents in the printed OLED technology field globally [3][5]. - The company officially announced the mass production of printed OLED technology in 2024, positioning itself as the only manufacturer in the world to achieve this milestone [3][5]. - Printed OLED technology embodies the brand philosophy of APEX, focusing on providing a better display experience, trusted visual health, sustainable green production, and limitless future possibilities [3]. Group 2: Product Advantages - Printed OLED offers a consistent display experience across multiple screens, ensuring uniform color and quality [7]. - Compared to existing OLED products priced in the thousands to tens of thousands, printed OLED utilizes Real RGB arrangement to eliminate color fringing and provides a stable, wide color gamut even in low brightness modes [8]. - The technology incorporates a low blue light solution that effectively reduces harmful blue light exposure, enhancing eye comfort [8]. Group 3: Production Advantages - Printed OLED simplifies the production process compared to traditional vapor-deposited OLED, leading to reduced production costs and making high-quality displays more accessible [10]. - The technology achieves a 90% material utilization rate, significantly lowering production costs and promoting eco-friendly practices [10]. - By requiring less stringent vacuum conditions and utilizing low-temperature drying, printed OLED can save 300 to 400 million kilowatt-hours of electricity annually, enough to power a medium-sized city for 30 to 60 days [10]. Group 4: Industry Impact - The introduction of printed OLED is seen as a milestone for the global display industry, with TCL Huaxing defining a new technological route [11]. - The company aims to bridge the gap between consumers and cutting-edge display technology, enhancing public understanding of the development and benefits of high-quality displays [13].

Core Viewpoint - China Merchants Port (01199.HK) demonstrated resilient growth in the first half of 2025, with significant increases in container throughput and net profit despite a complex trade environment [1][2]. Financial Performance - In the first half of 2025, total container throughput increased by 6.4% year-on-year to 74.296 million TEUs [1]. - Revenue rose by 13.6% year-on-year to $806 million [1]. - Profit attributable to equity holders increased by 30.6% year-on-year to $182 million [1]. - The board declared an interim dividend of $0.01928 per share [1]. Operational Resilience - The port industry faced challenges from ongoing trade protectionism and regional conflicts, yet China Merchants Port improved operational resilience through lean management and resource optimization [2]. - Domestic consumption recovery supported the operational efficiency of the company's domestic terminals, with throughput in China rising by 5.7% to 56.3901 million TEUs, accounting for 75.9% of total throughput [2]. - The Wuhan terminal, fully acquired in February, saw a significant throughput increase of 41.6% to 147,500 TEUs [2]. Global Expansion Efforts - The company focused on enhancing the operational capabilities of key overseas hubs, including the Peru Chancay terminal, Piraeus in Greece, and Abu Dhabi in the Middle East [3]. - The Piraeus terminal reported a revenue increase of 27.9% year-on-year due to higher throughput and storage income [3]. - The Chancay terminal commenced full operations in the first half of 2025 after successful trial operations [3]. Strategic Outlook - Despite a downward revision of global economic growth forecasts, the company remains optimistic due to China's commitment to high-level opening-up and domestic market recovery [4]. - The company plans to strengthen hub port construction and enhance service levels at key terminals [4]. - Focus will be on precise marketing and service improvement to maintain competitive advantages in the market [4]. Future Development Plans - The company aims to accelerate investments in emerging markets and enhance supply chain resources, promoting green and low-carbon development [5]. - Plans include developing logistics parks and extending supply chain services to create comprehensive resource advantages [5]. - Recent reports from brokerage firms suggest a positive outlook for the company, highlighting a stable gross margin of over 40% for domestic terminals [5][6].

Financial Performance - In the first half of 2025, the company achieved operating revenue of 2.496 billion yuan, a year-on-year increase of 15.31% [1] - The net profit attributable to shareholders was 882 million yuan, a year-on-year decrease of 8.73% [1] - The net cash flow from operating activities reached 2.262 billion yuan, a significant year-on-year increase of 1501.56% [1] Business Development - In the IDC business, the company efficiently completed large-scale deliveries and significantly shortened the overall delivery cycle [1] - The company added one data center in each of its four parks, totaling approximately 220 MW of new capacity, achieving a historically high delivery scale [1] - The company has delivered a total of 18 data centers, with a mature data center deployment rate exceeding 90% [1] Strategic Initiatives - In the AIDC business, the company implemented a "traffic diversion strategy" to attract top AI clients, transitioning from customer expansion to high-quality operations [2] - The company successfully delivered a new generation of 100 MW intelligent computing center in the Yangtze River Delta region, with record-high deployment speed [2] - The listing of the Southern Runze Technology Data Center REIT on the Shenzhen Stock Exchange marks a significant breakthrough in asset securitization for the company [2] Financing Activities - In the first half of 2025, the company utilized interbank market financing tools, issuing a super short-term financing bond of 1 billion yuan at the lowest interest rate for private enterprises under similar conditions [3] - The company also issued the first technology innovation bond for private enterprises in Hebei Province, with a scale of 1 billion yuan, again achieving the lowest interest rate for similar conditions [3] - The company plans to distribute a mid-term dividend of 3.995 yuan per 10 shares, totaling an expected cash dividend of 652 million yuan [3] Company Overview - Runze Technology is a leading technology company in the comprehensive computing center sector, focusing on building a robust foundation for China's digital economy [4] - The company emphasizes stability, safety, reliability, and sustainability in its services, investing heavily in intelligent computing and infrastructure [4] - Runze Technology aims to create advanced, well-structured, and green computing infrastructure clusters, establishing a strong reputation and brand influence in the industry [4]

Core Viewpoint - China COSCO Shipping Holdings Co., Ltd. (stock code: 601919.SH; 01919.HK) reported a steady growth in operational performance for the first half of 2025, despite external uncertainties, showcasing strong resilience and competitive advantages in the industry [1][2]. Financial Performance - The company achieved operating revenue of RMB 109.099 billion, a year-on-year increase of 7.78% [1]. - Earnings before interest and taxes (EBIT) reached RMB 25.494 billion, up 3.40% year-on-year, with an EBIT margin of 23.37% [1]. - Net profit amounted to RMB 20.208 billion, reflecting a 4.95% year-on-year growth [1]. - The net profit attributable to shareholders was RMB 17.536 billion, an increase of 3.95% year-on-year, indicating robust development resilience [1]. Strategic Initiatives - The company is focusing on two key transformation strategies: digital intelligence and green low-carbon initiatives [2]. - In digital transformation, China COSCO is expanding the application of artificial intelligence across various operational platforms, enhancing pricing, space allocation, empty container turnover efficiency, and fuel management [2]. - For green transformation, the company has ordered 42 methanol dual-fuel new ships and is planning to retrofit existing vessels, marking significant progress in fleet modernization [2]. Industry Positioning - China COSCO's EBIT and EBIT margin are leading within the international shipping industry, highlighting its competitive edge [1]. - The company is actively collaborating with ports and supply chain partners to establish green shipping corridors and enhance decarbonization efforts [2]. Future Outlook - The company plans to continue deepening its two major transformation strategies to address industry challenges and solidify its leading position [3].