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聲明，並明確表示概不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的任何損失承擔任何責任。 印尼附屬公司擬由本公司及香港附屬公司分別持股51%及49%，註冊資本 為 人 民 幣 5 百 萬 元（ 或 等 值 外 幣 ）， 將 負 責 在 印 度 尼 西 亞 進 行 具 體 業 務 開 展，深耕當地商用車市場。 本次境外附屬公司的設立，符合本公司國際化發展戰略要求，有利於推進 落實本公司進軍國際商用車市場業務的發展規劃，並對構建「銷售+金融」 相互支持的雙贏格局，加大公司海外業務投資布局、一體化轉型升級、形 成國際化競爭優勢，拓展海外業務具有重要意義。 – 1 – 股東及潛在投資者應注意，本公告乃自願刊發，旨在讓公眾瞭解本公司之 最新業務發展。本公司將於適當時候或於必要時遵照香港聯合交易所有限 公司證券上市規則刊發進一步公告。股東及潛在投資者買賣本公司股份時 務請審慎行事。 （ 一家於中華人民共和國註冊成立的股份有限公司） （股份代號：2418） 自願公告 擬設立境外附屬公司 本公告乃由德銀天下股份有 ...

Investment Progress and Related Transactions - Suzhou Jingfang Semiconductor Technology Co., Ltd. has established itself as a leader in advanced packaging technology services in the sensor field, focusing on wafer-level TSV packaging technology [2][3] - The company has initiated an international development strategy since 2022 to adapt to the restructuring of the global semiconductor industry, including establishing overseas headquarters and production bases [3][4] - The company has set up WaferTek Solutions Sdn. Bhd. in Malaysia to expand its overseas business and production capabilities, with plans to establish WaferWise Semiconductor Sdn. Bhd. to provide packaging technology and processing services [4][5] Related Transactions - The establishment of WaferWise involves a total investment of 150 million Malaysian Ringgit, with a shareholding structure that includes 50% held by local investors, 19.9% by Jingfang Technology, and 22.1% by the company's chairman [5][6] - The chairman, Wang Wei, has extensive experience in the semiconductor industry and is a key figure in the company's strategic decisions [6][7] Impact of Foreign Investment - The investment aims to enhance the company's manufacturing and technical service capabilities, aligning with overseas market demands and effectively addressing challenges posed by international trade dynamics [8]

Core Viewpoint - Western Cement (02233) has seen a nearly 6% increase in stock price, attributed to its strategic international expansion plans, particularly in Africa and emerging markets [1] Group 1: Company Developments - Western Cement's stock rose by 5.49% to HKD 2.89, with a trading volume of HKD 144 million [1] - The company signed agreements with the Mozambique Ministry of Economy during the China (Shaanxi) - Mozambique Investment Promotion Conference in Xi'an [1] - Western Cement aims to establish itself as a leader in the cement and building materials industry in Africa while also expanding into Central Asia and Southeast Asia [1] Group 2: Financial Insights - According to Guotai Junan, Western Cement's overseas gross profit per ton is projected to reach RMB 288, significantly higher than the domestic gross profit of RMB 42 per ton [1] - The company plans to sell its Xinjiang cement assets for RMB 1.65 billion, which will help alleviate debt pressure and support its overseas expansion efforts [1] - Upcoming projects include new construction in Uganda, acquisitions in the Democratic Republic of the Congo, production lines in Zimbabwe, and a production line in northern Mozambique, with future plans for Angola [1]

Core Viewpoint - Zhaomin Technology (301000.SZ) is advancing its international development strategy by planning to establish subsidiaries in Singapore and Thailand using its own or raised funds [1] Group 1 - The company aims to deepen its internationalization efforts through these investments [1] - The establishment of subsidiaries is part of the company's business development plan [1]

Core Viewpoint - The company, Yingli Co., plans to invest 150 million RMB to establish a wholly-owned subsidiary in Saudi Arabia, aiming to enhance its international development strategy and improve its competitive strength in the overseas market [1]. Group 1: Investment Details - The investment amount is set at 150 million RMB, funded by the company's own resources, with the total investment to be made in phases based on the market progress of the Saudi subsidiary [2]. - The subsidiary will be located in the industrial park of Hofuf City, Eastern Province, Saudi Arabia [2]. - The company type for the new entity is a limited liability company, fully owned by the Singapore subsidiary [2]. Group 2: Business Scope - The business scope of the new Saudi subsidiary includes the production, research and development, and sales of server chassis, cabinets, cooling modules for computer and data centers, photovoltaic modules, and related energy storage systems [2].

Financial Performance - In the first half of 2025, the company achieved operating revenue of CNY 3.397 billion, a year-on-year increase of 41.60% [2] - The total profit reached CNY 1.723 billion, up 47.60% year-on-year [2] - Net profit attributable to shareholders was CNY 1.405 billion, reflecting a growth of 40.44% compared to the previous year [2] - The weighted average return on equity was 3.73%, an increase of 0.89 percentage points year-on-year [2] - As of June 30, 2025, total assets amounted to CNY 177.199 billion, a growth of 2.96% from the end of the previous year [2] - Shareholders' equity attributable to the parent company was CNY 37.952 billion, up 2.46% from the end of the previous year [2] Digital Financial Strategy - The company is advancing its digital financial strategy through top-level design, intelligent computing platforms, and digital financial research [3] - A three-layer framework for digital finance has been established, focusing on "5 types of users + 4 new concepts + 3 drivers" [3] - An intelligent computing platform with a total capacity of approximately 20P has been built, enhancing operational efficiency by saving over 80 hours of work monthly and improving efficiency by 70% [3] - The company has received several industry awards for its digital financial research, including the Financial Technology Development Award [3] Market Value Management - The company emphasizes market value management and has implemented a system to enhance investment value and returns for investors [4] - Key measures include establishing a stable investor return mechanism and ensuring continuous, stable cash dividends [4] - The company adheres to information disclosure regulations to ensure timely and accurate communication of significant information [4] International Development Strategy - The company is actively pursuing international development, focusing on technology, consumption, and healthcare sectors [4] - Since 2025, it has assisted multiple companies in successfully issuing and listing on the Hong Kong Stock Exchange, with over 50 companies from Anhui province listed [4] - Future plans include deepening collaboration with Guoyuan International to guide quality domestic enterprises to go public in Hong Kong [4]

Core Insights - CITIC Securities reported a record high net profit of 13.72 billion yuan for the first half of 2025, achieving over 20% year-on-year growth in both revenue and profit, leading the brokerage industry in performance [1][2] - The company emphasized its commitment to international expansion, with international business revenue increasing by 53% and net profit rising by 66% compared to the previous year [2][3] Financial Performance - Total revenue for the first half of 2025 reached approximately 33.04 billion yuan, up from 27.43 billion yuan in the same period last year, marking a growth of 20.44% [2][4] - The net profit attributable to shareholders was 13.72 billion yuan, a significant increase from 10.57 billion yuan year-on-year, reflecting a growth of 29.83% [2][4] - Major business segments showed strong performance: - Brokerage business revenue was 9.32 billion yuan, up 21.11% - Asset management revenue reached 6.02 billion yuan, increasing by 22.32% - Securities investment revenue was 14.50 billion yuan, growing by 8.15% - Securities underwriting revenue was 2.05 billion yuan, up 19.16% [1][4] Strategic Outlook - The company addressed investor concerns regarding potential mergers and acquisitions, stating that it will maintain strategic focus and enhance competitive advantages despite increasing market pressures [3] - In terms of asset allocation strategy, CITIC Securities plans to actively manage market risks and deepen forward-looking research to ensure stable returns [3] - The company also highlighted the importance of optimizing risk control systems in securities investment, aiming to enhance proactive risk assessment [3] Dividend Announcement - CITIC Securities announced a cash dividend plan of 2.9 yuan per share, totaling 4.30 billion yuan, which represents 32.53% of the net profit for the period, aimed at boosting investor confidence [6]

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company reported a revenue of 35.883 billion yuan in the first half of 2025, representing a year-on-year increase of 10.19%, while the net profit attributable to shareholders decreased by 7.90% to 1.831 billion yuan [2] - The company continues to experience high growth in business volume, with a market share increase of 0.3 percentage points [4] - The company is expected to enhance its operational quality through digitalization, scale effects, and a professional management system, maintaining a "Buy" rating [8] Financial Performance - In Q2 2025, the company achieved a revenue of 18.823 billion yuan, a year-on-year increase of 9.84%, with a net profit of 974 million yuan, down 6.76% [2] - The average revenue per package in the first half of 2025 was 2.19 yuan, a decrease of 6.55% year-on-year, primarily due to industry competition and a decline in average cargo weight [2] - The company’s operating cash flow for the first half of 2025 was 2.634 billion yuan, an increase of 13.99% year-on-year [5] Business Volume and Market Share - The company’s express delivery volume in the first half of 2025 reached 14.863 billion pieces, a year-on-year increase of 21.79%, with a market share of 15.5% [4] - The company’s express delivery volume for Q1 and Q2 2025 was 6.779 billion and 8.084 billion pieces, respectively, with year-on-year growth rates of 21.75% and 21.82% [4] Future Growth Potential - The company is focusing on international business and air freight as potential growth drivers, with a self-owned fleet of 13 aircraft and over 150 routes opened [6] - The air freight segment generated revenue of 0.887 billion yuan in the first half of 2025, reflecting a year-on-year growth of 15.11% [6] Profit Forecast - The company’s net profit attributable to shareholders is projected to be 4.102 billion yuan, 4.735 billion yuan, and 5.380 billion yuan for the years 2025, 2026, and 2027, respectively [7][8]

Group 1 - The core point of the article is that Yongxin Co., Ltd. plans to establish a wholly-owned subsidiary in Shanghai with an investment of 5 million RMB to support its international development strategy and enhance its market share and competitiveness [1] - The decision to set up the subsidiary was approved by the company's board during its 19th meeting of the 8th session [1] - The revenue composition for Yongxin Co., Ltd. in 2024 is projected to be 92.46% from other plastic manufacturing, 4.4% from coatings, inks, and similar products, and 3.14% from other businesses [1] Group 2 - As of the report, Yongxin Co., Ltd. has a market capitalization of 7.1 billion RMB [2]

Group 1 - The company has appointed Tang Hui as the new board secretary, who has extensive experience in banking but lacks prior experience in listed company secretarial roles [1] - The previous board secretary, Zhu Guohai, had a salary of 2.15 million yuan in 2024 [3] - The company plans to pursue a Hong Kong IPO to enhance its international development strategy and improve its competitiveness in the global market [3] Group 2 - The company's path to a Hong Kong listing may face uncertainties due to past compliance issues, including allegations of facilitating illegal cash withdrawals through POS machines [6][8] - Since 2019, the company has faced multiple administrative penalties totaling 17.29 million yuan for various compliance violations [8] - Industry experts suggest that stricter regulatory policies will emerge, and only those companies that adapt to compliance and digital transformation will thrive in the evolving payment landscape [8]