Core Viewpoint - The development of the Guangdong-Hong Kong-Macao Greater Bay Area is enhancing cultural exchange and tourism cooperation, with Douyin's first live-streaming sales event in Hong Kong attracting significant online engagement [1][6]. Group 1: Live Streaming Event - Douyin's live-streaming event, which started on May 25, showcased various "Bay Area Good Products" and garnered over 6.2 million exposures, with more than 2.41 million views and a peak online audience of 118,800 [1][6]. - The event was part of a collaborative initiative involving over 40 selected merchants from Hong Kong and Shenzhen, offering unique travel and dining packages [3][6]. Group 2: Travel Packages and Popular Attractions - The top-selling items in the Hong Kong travel package included Hong Kong Disneyland, guided tours, and the Peak Tram, while popular dining options in Shenzhen featured brands like Siji Coconut Grove and Yemei [3][4]. - The live-streaming session included immersive tours of iconic landmarks such as Victoria Harbour and The Peak, enhancing viewer engagement [3][4]. Group 3: Collaboration with BIGBUS - Douyin partnered with BIGBUS to create three travel routes that cover popular attractions in Hong Kong, including the modern shopping districts and cultural landmarks [4][6]. - The collaboration also introduced a themed BIGBUS featuring the Molly character from Pop Mart, aimed at attracting a younger audience [4][6]. Group 4: Marketing Strategy and Economic Impact - The live-streaming initiative is expected to provide local merchants with new growth opportunities by connecting online promotions with offline experiences, thereby increasing brand visibility and expanding the tourism economy in the Bay Area [6]. - The "City Journey Plan" by Douyin aims to integrate government resources, platform traffic, and local merchant resources to create a consumption loop that promotes urban consumption growth and cultural dissemination [6].

相约大湾区 共享新机遇 此次参访团由外交部驻港公署组织，外国驻港总领事馆负责人，外国在港商会、跨国企业、金融机构负 责人及香港特区政府有关部门负责人、媒体代表等百余人组成。在穗期间，参访团考察了极飞科技、小 鹏汽车、小鹏汇天、迈普医学、巨湾技研等企业和广州国际金融城、广东医谷·南沙生命科学园，并参 加南沙推介会等活动。 携手谱写合作共赢新篇章 相关附件 6月4日至5日，外国驻港领团和商界参访团访问广州，广州市举行"相约·广州之夜"推介会，外交部驻港 公署特派员崔建春出席，广州市委书记郭永航致辞。香港特区政府商务及经济发展局副局长陈百里，市 领导陈杰、胡浩参加。 郭永航代表市委、市政府对参访团一行表示热烈欢迎，对大家长期以来大力支持广州经济社会发展表示 衷心感谢。他说，建设粤港澳大湾区是习近平总书记亲自谋划、亲自部署、亲自推动的重大国家战略， 大湾区已成为全球最具前景的增长极之一，为各方成就事业理想、实现更大发展提供了广阔舞台。作为 粤港澳大湾区核心引擎，广州深入学习贯彻习近平总书记对广东系列重要讲话和重要指示精神，锚 定"排头兵、领头羊、火车头"标高追求和加快实现老城市新活力、"四个出新出彩"的使命任务，抢抓 ...

Core Viewpoint - The Tieshan Port area in Beihai, Guangxi has transformed from a traditional agricultural region into a modern industrial powerhouse with an output value exceeding 100 billion RMB, driven by diverse industrial clusters including green chemicals, new materials, and renewable energy [1][3]. Economic Growth - The GDP of Tieshan Port area has increased from 760 million RMB at its establishment to 60.266 billion RMB in 2024, representing a growth of 78 times [3]. - The port's cargo throughput has surged from 5.6 million tons to 44.7492 million tons, an increase of over 800 times since its inception [3]. - The industrial output value has escalated from 134 million RMB to 177.321 billion RMB, marking a growth of over 1,000 times [3]. Infrastructure Development - Tieshan Port has become a key industrial zone in Beihai and one of the three major industrial areas in the Guangxi Beibu Gulf Economic Zone [3]. - Recent infrastructure projects include the completion of dedicated railway lines and the construction of a 200,000-ton navigation channel, enhancing shipping capacity [4]. - The port currently has 24 productive berths and 9 open berths, with ongoing efforts to improve multi-modal transport systems [4]. Strategic Initiatives - The area is actively participating in the "Belt and Road" initiative and supporting national strategies such as the Western Land-Sea New Corridor and the Guangdong-Hong Kong-Macao Greater Bay Area [4]. - Tieshan Port is positioned as an international gateway connecting southwestern China with southern and central regions, facilitating international trade [3][4]. - The region is also focusing on attracting eastern industry transfers and fostering international cooperation in supply chains, particularly in new materials and food processing [5].

Group 1: Dividend Policy and Financial Performance - The company plans to maintain a dividend payout ratio of 43.3% for 2024, with a cash dividend of 1.30 CNY per 10 shares, distributing a total of 675,932,834.98 CNY, which accounts for 50.09% of the net profit attributable to shareholders for 2024 [2][3] - The company aims to distribute at least 50% of the annual distributable profit as cash dividends for the years 2024-2026 [3] - In Q1 2025, the net profit attributable to shareholders was 313 million CNY, representing a year-on-year increase of 21.63% [3] Group 2: Market Position and Competitive Strategy - The company is focusing on enhancing its core competitiveness by leveraging national strategies such as the "Belt and Road Initiative" and the Guangdong-Hong Kong-Macao Greater Bay Area [3][4] - The company has opened 17 inland ports and 32 sea-rail intermodal routes, enhancing its logistics network and regional competitiveness [4] - The company has added 6 new international routes in the first four months of 2025, expanding its service coverage to major trade regions [4] Group 3: Future Growth and Industry Outlook - The company plans to explore new business models and enhance operational efficiency to boost profitability, particularly in the Greater Bay Area and the Yangtze River Economic Belt [4][5] - The overall growth of China's coastal ports is expected to remain stable in 2025, although the growth rate may slow compared to 2024 [5][6] - The demand for coal is projected to increase slightly in 2025, while the throughput of metal ores is expected to remain stable due to ongoing trade tensions and a sluggish real estate market [6][7] Group 4: Operational Innovations - The Huangshi New Port is implementing an innovative "loading + mixing + trading" model for iron ore operations to enhance throughput and profitability [7] - The port has established modern storage facilities and a comprehensive transportation network to support its operations [7]

日前，葡语国家智库专家代表团一行来穗访问，与广州市政府外办、南沙区进行友好交流。5月27日， 代表团参访了广交会展馆和广州城市规划展览中心，深入了解广州城市建设发展的脉络以及推进粤港澳 大湾区建设的具体举措。活动现场，多名代表团成员向南都记者盛赞广州的城市发展和环境友好，并表 达了对其所在国与中国在多领域合作的期待。 5月26日至28日，由来自安哥拉、巴西等9个葡语国家的11名智库专家、学者组成的代表团到访广州。成 员包括大学校长、副校长，研究所所长、副所长，央行经济学家、学术研究部主任、政策评论分析员、 出版与活动总协调人等。访问期间，代表团将参访广交会展馆、广州城市规划展览中心、广州港 （601228）四期码头、广汽研究院，在华南理工大学政策研究院参加中国式现代化主题讲座。 5月27日，代表团抵达广交会展厅，深入了解"中国第一展"广交会作为中国外贸的"晴雨表"和"风向 标"的发展历史，领略广州作为中国最具竞争力会展城市的强劲实力。活动现场，巴西古斯芒基金会出 版与活动总协调人恩里克用"令人惊奇"一词来形容此行。 恩里克告诉南都记者，广州的发展态势之好是其前所未见的，"我在这里看到的一切，包括产品的质量 和 ...

Core Viewpoint - The Greater Bay Area (GBA) is not only a geographical concept but also an emerging cultural community that serves as a new engine for China's development, leveraging its maritime cultural advantages [1][2] Group 1: Cultural Significance - The cultural essence of the GBA is reflected in historical sites such as the Guangzhou Thirteen Hongs and the Nanhai No. 1 underwater archaeological museum, symbolizing the region's rich heritage [1] - The GBA is home to significant historical events, such as the destruction of opium by Lin Zexu at Humen Fort, which also serves as a crucial export channel for 40% of global consumer electronics [1] Group 2: Technological Integration - Contemporary technological practices in the GBA include Tencent's "Digital Axis" project utilizing blockchain for intangible cultural heritage, DJI incorporating Lingnan lion dance into drone performances, and Huawei's Hetu engine enhancing historical scenes with AI at Chiwai Fort [1] Group 3: Management Innovation - The GBA is constructing a cultural symbiotic ecosystem through management innovation, exemplified by the "one park, two systems" operational model of the Qianhai Shenzhen-Hong Kong Creative Park and the cultural bonded zone practices in the Hengqin Guangdong-Macao Cooperation Zone [2]

Group 1 - The China-Hong Kong-Macao Greater Bay Area Development Theme Index (931000) decreased by 0.59% as of May 27, 2025, with mixed performance among constituent stocks [1] - The Greater Bay Area ETF (512970) rose by 0.08%, with a one-month cumulative increase of 2.41% and a five-year net value increase of 16.76% as of May 26, 2025 [2] - The ETF has achieved a maximum monthly return of 21.99% since its inception, with an average monthly return of 5.28% [2] Group 2 - The central government emphasizes the orderly development of strategic emerging industries and future industries, aiming to enhance the resilience and safety of industrial supply chains [2] - High-end manufacturing and modern service industries are identified as key sectors in the Greater Bay Area, with potential for leading enterprises to emerge [3] - The economic growth of the Greater Bay Area is expected to be driven by advanced manufacturing and modern services, particularly in fields like big data, semiconductors, cloud computing, and biomedicine [3] Group 3 - The National Enterprise Win-Win ETF (159719) showed mixed performance, with a recent price of 1.5 yuan and a two-week cumulative increase of 0.67% as of May 26, 2025 [5] - The ETF has achieved a net value increase of 43.39% over the past three years, ranking 76 out of 1769 index stock funds [6] - The ETF closely tracks the FTSE China National Enterprises Open Win-Win Index, which reflects the performance of Chinese state-owned enterprises listed in mainland China and Hong Kong [6] Group 4 - The top ten weighted stocks in the Greater Bay Area Development Theme Index account for 53.26% of the index, with companies like BYD (002594) and Ping An Insurance (601318) among the leaders [9] - The performance of major stocks in the index varies, with BYD showing a decline of 2.09% and China Mobile (601728) increasing by 0.76% [11]

Group 1: Financial Performance - The company's Q1 2025 revenue was 171 million yuan, with a net profit attributable to shareholders of 313 million yuan, representing a year-on-year growth of 21.63% [2] - The net profit excluding non-recurring items was also 313 million yuan, showing a growth of 21.96% compared to the previous year [2] Group 2: Port Development and Operations - The company is leveraging national strategies such as the "Belt and Road Initiative" and the Guangdong-Hong Kong-Macao Greater Bay Area to enhance its port network and collaborative development [2] - In the first four months of 2025, the company added 6 new international shipping routes, expanding its service coverage to major trade areas in Europe, America, and Asia [3] - The port currently operates nearly 100 shipping routes, with an average of 6 daily flights to the United States and 4 to Europe, along with over 10 cross-border e-commerce shipping lines [3] Group 3: Dividend Policy - The company plans to significantly increase its cash dividend payout ratio in response to the new "National Nine Articles" policy, committing to distribute at least 50% of its distributable profits as cash dividends annually from 2024 to 2026 [3] - Since its listing, the company has distributed a total of 6.324 billion yuan in dividends and will continue to actively implement its cash dividend policy to reward shareholders [3] Group 4: Disclosure Compliance - The activity did not involve any undisclosed significant information [3]

重庆市发展改革委副主任凌健表示，推动香港的生产性服务业与重庆乃至西部地区的先进制造业和现代 服务业有机融合，加强经贸、金融、物流等领域合作，必将释放经济增长新动能。 2018年建立川港合作会议机制，2023年成立渝港合作会议机制，2024年签署深化陕港交流合作协议…… 香港参与西部大开发的脚步还在提速，合作范围也从经贸拓展至人文交流等更多领域。香港微型艺术 展、"香港厨房@陕西"等活动在陕西陆续举行，渝港澳三地电影、音乐、书法等文学艺术活动举办，香 港位列重庆入境游客来源地首位…… "国家正在推动产业链、创新链、人才链和资金链的深度融合。香港作为国际科创中心和高端人才聚集 地，希望与内地更多地区加强合作，共同开拓全球市场，实现互利共赢。"钟永喜说。 今年西洽会上，香港首次成为主宾城。在设置主题展馆的同时，还举行了多个渝港创新合作专题活动； 两地成功签约金融服务、资本合作、金融科技等领域7个项目。 香港特区政府商务及经济发展局局长丘应桦说，香港作为国家双循环连接平台，积极担当"超级联系 人"和"超级增值人"的角色，是内地企业"走出去"和把海外企业"引进来"的双向跳板；西洽会则是国家 在西部地区的重要贸易合作和投 ...

Group 1: Impact of U.S. Tariffs on Global Trade - The Secretary for Transport and Logistics of Hong Kong, Chan Mei-po, stated that the U.S. imposition of tariffs has profound negative impacts on global trade, leading to an expected decline in overall trade volume [1] - In response to the new international trade landscape, the Hong Kong government plans to expand its shipping and aviation networks to enhance market diversity and reduce reliance on the U.S. market [1] Group 2: Strategies for Supporting the Logistics Industry - The government has outlined five strategies to assist the logistics sector in Hong Kong, including exploring emerging markets in the Middle East and ASEAN, and promoting Hong Kong's logistics advantages along the Belt and Road Initiative [1] - Strengthening collaboration with the Guangdong-Hong Kong-Macao Greater Bay Area ports to establish a comprehensive intermodal transport system is a key focus [1] - The government is actively researching the exemption of certain goods from import and export license requirements to attract more cargo transiting through Hong Kong [1] - Initiatives to deepen international port and shipping cooperation, as well as to promote digitalization, greening, and smart technologies in ports, are being pursued to enhance competitiveness [1] Group 3: Financial Support for SMEs - The government is optimizing the "SME Financing Guarantee Scheme" to meet the financing needs of small and medium-sized enterprises during economic downturns, allowing for a 12-month "interest-only" repayment arrangement [2] - The maximum loan guarantee period for 80% and 90% credit guarantee products has been extended to ten years and eight years, respectively [2] - The Hong Kong Monetary Authority and banks have reintroduced support measures to assist SMEs in obtaining bank financing and upgrading their operations [2] Group 4: Export Credit Insurance Initiatives - The Hong Kong Export Credit Insurance Corporation has increased the maximum compensation rate to 95% and introduced three support measures to assist businesses [3] - These measures include extending free pre-shipment risk coverage for small business policyholders and offering a 50% discount on pre-shipment risk coverage for non-small business policyholders [3] - The corporation will provide additional free credit assessment services for buyers from the mainland, ASEAN, and the Middle East, and collaborate with financial institutions to support e-commerce financing [3]