来源：新浪港股-好仓工作室 2026年1月9日，江苏华盛锂电材料股份有限公司（证券代码：688353，证券简称：华盛锂电）发布公告 称，公司为加快国际化战略布局，增强境外融资能力，进一步提高资本实力和综合竞争力，正在筹划发 行H股股票并在香港联合交易所有限公司上市。截至公告披露日，公司正在与相关中介机构就本次H股 发行上市的具体推进工作进行商讨，相关细节尚未确定，本次H股发行上市不会导致公司控股股东和实 际控制人发生变化。待具体方案确定后，本次H股上市工作尚需提请公司董事会和股东会审议，并经中 国证券监督管理委员会、香港联交所和香港证券及期货事务监察委员会等相关政府机构、监管机构备案 或审核批准。 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 ...

1月6日，协合新能源在新加坡交易所主板正式挂牌，成为新交所今年首个挂牌股票。这家在香港上市的可再生能 源企业以介绍形式完成第二上市，不发行新股也不募集资金。 市场反应积极，股价一度升逾16%，全日交易量达204.55万股。而在港交所，其股价同日下跌1.47%。这一升一降 的背后，是企业国际化布局的战略选择。 一、9%涨幅开门红：一家风电企业的"新交所时刻" 协合新能源的"新交所首秀"取得了开门红。公司股价在新交所首日交易中收盘报0.061新元，较开盘价上涨9%。 这家成立于1997年的公司，2023年将总部迁至新加坡。作为专注可再生能源的企业，其2025财年前6个月的风力发 电占营收的八成，太阳能发电占一成半，99%的营收来自中国。 新交所集团全球业务发起和拓展部资本市场主管许仁和指出，这是首个在新交所挂牌的专注可再生能源企业。他 认为本地市场将有一批对可持续领域感兴趣的新投资者。 协合新能源此次以介绍形式在新交所第二上市，不涉及新股发行或融资活动。这意味着公司并非为了短期资金需 求，而是一次 "战略卡位"，将新加坡视为区域和国际扩张的枢纽，提升国际品牌形象。 协合高管合影，图源：SGX，联合早报，侵删 二、 ...

工作人员走访企业了解用电需求 接下来，佛山将进一步探索创新具有影响范围广、惠及主体多、含金量高的服务举措，推动建立与经济社 会发展新形势、新要求相适应的现代化用电营商环境，促进"获得电力"在服务地方经济社会高质量发展上发挥 更大的作用。 在全球化浪潮与区域协同发展的双重驱动下，佛山作为制造业重镇和外贸强市，企业"出海"步伐持续加 快，跨国跨省投资合作日益频繁。依托粤港澳大湾区深度融合、海南自由贸易港交流合作深化的战略机遇，佛 山市聚焦企业发展痛点，将优化用电营商环境作为服务实体经济、赋能国际化布局的关键抓手，以政策创新为 引领、政企联动为支撑，推动"无界办电"服务升级，让电力保障成为企业全球化发展的"硬核支撑"。 南方电网广东佛山供电局开通"跨国（境）办电"服务专窗，并与海口供电局建立"双区联电·产业聚能"服务 机制，实现跨省异地办电，全面提升客户满意度和用电获得感。"跨国（境）办电咨询服务专窗"，服务范围涵 盖东亚、南亚、东南亚等11个邻近国家以及香港、澳门两个境外地区。提供国（境）外用电申请渠道、办理流 程、办理费用等咨询服务，对在国外或境外有用电需求的企业，指导企业准备办电申请资料，解决企业在国外 或境 ...

Core Viewpoint - Proya plans to list its H-shares on the Hong Kong Stock Exchange to accelerate international expansion and enhance overseas financing capabilities, potentially becoming the first A+H share company in the beauty industry [1] Group 1: Company Overview - Proya primarily engages in the research, production, and sales of cosmetic products, owning brands such as "Proya," "Caitang," "Off&Relax," and others, covering various beauty sectors including skincare and makeup [1] - In the previous year, Proya was recognized as the most profitable domestic beauty company and became the first domestic beauty enterprise to enter the "100 billion club" [1] Group 2: Financial Performance - For the years 2021 to 2024, Proya's revenue figures were 4.633 billion, 6.386 billion, 8.905 billion, and 10.78 billion yuan, with year-on-year growth rates of 23.47%, 37.82%, 39.45%, and 21.04% respectively [1] - The net profit attributable to the parent company for the same period was 576 million, 817 million, 1.194 billion, and 1.552 billion yuan, with growth rates of 21.03%, 41.88%, 46.06%, and 30.00% respectively [1] Group 3: Recent Performance and Challenges - In the first half of this year, Proya reported revenue of 5.362 billion yuan, a year-on-year increase of 7.21%, and a net profit of 799 million yuan, reflecting a growth of 13.80%, marking the lowest growth rates in nearly five years [2] - The slowdown in growth is attributed to a decline in sales volume and unit prices in the skincare category, as well as a decrease in unit prices for beauty makeup products [2] - Sales expenses for the first half of the year amounted to 2.659 billion yuan, a year-on-year increase of 13.64%, accounting for 49.59% of total revenue, with promotional expenses rising to 2.399 billion yuan [2]

Group 1 - Dongshan Precision plans to issue H-shares and list on the Hong Kong Stock Exchange, becoming the fifth A-share company from Suzhou to initiate a Hong Kong listing this year [1] - Huadian Co., another member of Suzhou's "trillion-dollar club," announced its intention to issue H-shares and list on the Hong Kong Stock Exchange just days prior [1] - Both companies are leading players in the printed circuit board (PCB) industry, with Dongshan Precision ranking second globally in flexible printed circuits (FPC) and third in PCB business [1] Group 2 - Dongshan Precision's stock price has increased over 150% this year, with a market capitalization of 137.1 billion yuan as of September 24 [1] - Huadian Co. has seen its stock price rise over 90% this year, with a market capitalization of 143.2 billion yuan as of September 24 [1] - The primary goal of Dongshan Precision's Hong Kong listing is to advance its international strategy, enhance overseas business layout, and improve brand recognition [1] Group 3 - The choice to list in Hong Kong aligns with the long-term development plans of both companies and reflects the trend of Chinese manufacturing firms expanding internationally and the dual opening of capital markets [2] - Dongshan Precision reported overseas revenue of 13.168 billion yuan in the first half of 2025, accounting for 77.66% of total revenue [2] - Huadian Co. reported overseas revenue of 6.893 billion yuan in the same period, representing 81.16% of total revenue [2]

Group 1 - The core viewpoint of the article is that the domestic clothing company HLA (海澜之家) plans to issue H-shares and list on the Hong Kong Stock Exchange, marking a potential increase in A-share companies going public in Hong Kong [1][5] - HLA aims to deepen its global strategy, accelerate overseas business development, and enhance its international brand image through this listing [3][4] - The company has already established a presence in international markets, with plans to expand into Central Asia, the Middle East, and Africa, and is set to open its first store in Australia [3][4] Group 2 - The trend of A-share companies listing in Hong Kong has been increasing this year, with 11 companies having done so by September 11, and over 50 more in the queue [2][5] - The Chinese Securities Regulatory Commission has released measures to support leading domestic companies in going public in Hong Kong, which has contributed to this trend [5][6] - Hong Kong is recognized as a favorable platform for companies aiming for international expansion due to its legal system, tax benefits, and access to a diverse range of investors [6][7]

Core Viewpoint - Shandong Gold (600547)(01787) aims to enhance its international capital market presence and optimize its capital structure through a share placement, targeting a total of 136.5 million shares at a price of HKD 28.58 per share, representing an approximate discount of 8.98% from the closing price on September 1, 2025 [1] Group 1 - The company has entered into a placement agreement with placement agents to issue up to 136.5 million shares [1] - The expected net proceeds from the placement are approximately HKD 3.8924 billion, which will be used to repay company debts [1] - The placement is part of the company's strategy to promote healthier, sustainable, and high-quality development, aiming to build a globally competitive world-class gold mining enterprise [1]

Investment Rating - The report gives a "Buy" investment rating for the company, marking its first coverage in this regard [6]. Core Views - The company is positioned as a leading player in the zipper and button industry, with a dual growth strategy focusing on both segments. It is expected to achieve steady growth and increase its market share, particularly in the international market [3][4][6]. Summary by Sections Short-term Demand and Policy Disturbances - The company faces short-term pressures due to relatively weak domestic demand and potential impacts from tariff policies. However, it demonstrates resilience in order growth despite external fluctuations [13][14]. - Long-term growth is supported by the dual growth of zippers and buttons, with robust profitability expected [15]. Zipper Industry - The global zipper market is valued at approximately 120.9 billion RMB, with a projected CAGR of 3.5% until 2030. The company is gaining market share from competitors like YKK due to operational disruptions faced by them [23][27]. - The company has seen significant growth in overseas revenue, with a CAGR of 16.4% from 2015 to 2024, outpacing domestic growth [4][16]. Button Industry - China is the leading exporter of buttons, with the market size expected to grow from 280 billion RMB in 2022 to 313 billion RMB by 2025, reflecting a CAGR of 3.95% [36]. - The company holds a 15%-20% market share in the domestic high-end button market, benefiting from a strong design and rapid response capability [37][38]. Company Development - The company has undergone significant transformation, evolving from a button manufacturer to a comprehensive supplier of garment accessories. It has established a global presence with production facilities in Southeast Asia [43][46]. - The corporate culture emphasizes alignment of goals across all levels, supported by a stable shareholding structure and successful stock incentive plans [47][48]. Profit Forecast - Revenue projections for 2025-2027 are 50.07 billion RMB, 55.96 billion RMB, and 62.56 billion RMB, with corresponding EPS of 0.64, 0.70, and 0.78 RMB. The current stock price corresponds to a PE ratio of 17.2, 15.6, and 14.1 for the respective years [6][54].

Core Insights - The article highlights the growing trend of mainland Chinese restaurant brands entering the Hong Kong market, leveraging its unique advantages for brand expansion and internationalization [1][3][4] - Hong Kong is positioned as a testing ground for these brands, with over 20 Chinese restaurant brands expected to enter by 2024, allowing them to adapt their products and services to diverse cultural contexts [3][4] Group 1: Market Opportunities - Hong Kong's unique position as a bridge between mainland China and the global market offers significant opportunities for mainland restaurant brands to enhance their brand influence [1][4] - The city has seen a strong recovery in tourism, with over 16 million visitors in the first four months of the year, contributing to a GDP growth of 3.1% in Q1 compared to the previous year [1] Group 2: Strategic Advantages - Hong Kong serves as a preferred location for mainland brands to establish their first overseas outlets, allowing them to gain international experience while also utilizing the capital market for growth [3] - The city provides a favorable business environment with low taxes, a fair and open market, and a robust international network, making it an ideal hub for cross-border supply chain management [4]

Core Viewpoint - Anjiu Food (603345.SH), known as the "first stock of frozen food," is pursuing an IPO in Hong Kong, facing skepticism from shareholders regarding the motives behind the listing, with a significant portion of minority shareholders opposing the move [1][3]. Shareholder Voting Results - In the shareholder vote regarding the Hong Kong listing, 70.63% of shareholders supported the proposal, while 28.77% opposed it, with 60.51% of minority shareholders holding less than 5% of shares voting against [1][2]. Company Strategy and Rationale - The company aims to enhance its long-term strategic development, broaden financing channels, optimize capital structure, improve international brand image, and strengthen overall risk resistance through the Hong Kong listing [3]. - The company believes that the current macroeconomic environment and policy support favor the internationalization of quality Chinese enterprises, positioning the Hong Kong market as a crucial platform for global fundraising and development [3]. Financial Performance - Anjiu Food's revenue and profit growth has slowed over the past three years, with revenues of 12.106 billion, 13.965 billion, and 15.030 billion yuan for 2022 to 2024, reflecting year-on-year growth rates of 31.39%, 15.29%, and 7.70% respectively [5]. - Net profits for the same period were 1.101 billion, 1.487 billion, and 1.485 billion yuan, with corresponding growth rates of 61.37%, 34.24%, and 0.46% [5]. - In Q1 2025, the company reported a revenue decline of 4.13% to 3.600 billion yuan and a net profit decline of 10.01% to 395 million yuan [5]. Market Competition and Strategy - The company acknowledges the ongoing challenges in the market due to macroeconomic conditions affecting consumer sentiment, but it has managed to maintain positive growth in revenue and profit over the past two years [5]. - Anjiu Food plans to continue its channel strategy and product development to respond to market competition and leverage potential opportunities for industry consolidation [5]. International Expansion - The company has signed agreements with local distributors in Southeast Asian countries such as the Philippines, Cambodia, Myanmar, and Thailand, exporting a range of frozen products and establishing a multi-category collaborative output capability [6].