2月26日，长和系企业长江和记实业有限公司（以下简称"长和"，00001.HK）、长江基建集团有限公司 （以下简称"长江基建"，01038.HK）发布联合公告，宣布出售由长江基建附属公司、电能实业附属公 司、长江实业附属公司共同持有的英国最大配电网络之一UK Power Networks（以下简称"UKPN"）全部 股权，交易整体对价达105.48亿英镑，约合1107.5亿港元。 这笔交易不仅刷新近年来长和系在英国基础设施领域的退出规模，也再次强化了李嘉诚家族一贯的资本 操作路径——在成熟资产高位套现的同时，为下一轮布局预留空间。 "有买有卖，生意才能做得更大。我们一向不喜欢借贷，遂不时储备资金进行更大的交易。"2025年7 月，长实集团（01113.HK）主席李泽钜在回应出售英国铁路车辆租赁公司UK Rails时如是表示。 套现、转身、再下注，李嘉诚家族熟悉的"不赚尽最后一个铜板"剧本再次上演。 自李嘉诚长子李泽钜接班以来，长和系持续推进资产重组与区域再平衡，尤其在英国及欧洲市场频 繁"落袋为安"，交易标的横跨物业、电信、能源、交通基础设施、港口等领域。 与单纯的财务投资退出不同，长和系的交易往往兼具周期判 ...

AT&T (NYSE:T) 2026 Conference February 24, 2026 08:35 AM ET Company ParticipantsPascal Desroches - CFOConference Call ParticipantsKannan Venkateshwar - Md and Lead AnalystKannan VenkateshwarThank you. Good morning, everyone. I'm Kannan Venkateshwar, and I lead the North American Cable Telecom and Media Research effort here at Barclays. I'm sorry we had to make this event virtual last minute, given all the travel disruptions, but I did want to acknowledge all the work of my corporate access team, who've been ...

Aimia logo Aimia (TSE:AIM) executives outlined plans to reshape the company’s balance sheet and investment strategy after announcing the signing of a definitive agreement to sell its Bozzetto business. On a conference call, Executive Chairman Rhys Summerton and President and CFO Steven Leonard described the transaction economics, expected closing timeline, and the company’s intended use of proceeds, with an emphasis on debt reduction and future acquisitions. Bozzetto sale proceeds and timeline Manageme ...

Company Overview - ArcBest Corporation is a century-old logistics operator with a unionized less-than-truckload (LTL) network and an asset-light brokerage and managed transportation business, operating 239 service centers across North America [2] - Approximately 56% of its ~15,000 employees are represented by the Teamsters, making it the last publicly traded predominantly unionized LTL carrier [2] Financial Performance - For 2024, ArcBest's revenue is projected at $4.53 billion, with the asset-based LTL segment contributing $3.33 billion (74% of total revenue) and the asset-light logistics segment contributing $1.20 billion [3] - The LTL segment has a 10.2% EBITDA margin, while the logistics segment has a 3-4% EBITDA margin [3] - The company has a collective bargaining agreement that ensures predictable 4.2% annual labor cost escalations through mid-2028 [3] Market Dynamics - The North American LTL market is valued at $85 billion, with the top 10 carriers controlling 75% of the revenue [4] - The liquidation of Yellow in 2023 removed approximately 9-10% of national capacity, benefiting ArcBest by redistributing assets to more rational operators and improving rate discipline [4] Industry Outlook - Despite a freight recession from 2023-2025, industry pricing has remained rational, and a modest manufacturing rebound could quickly normalize volumes [5] - ArcBest's higher-cost structure due to unionization creates significant operating leverage, with potential for earnings recovery if tonnage or oversized freight mix improves [5] Investment Thesis - ArcBest's shares are trading near their liquidation value of $50-$84 per share, based on terminal, fleet, and brokerage assets, presenting asymmetric upside potential [6] - A mid-cycle recovery could drive 2028 EPS to $10-12, while normalization in shipment weights could push EPS to $18-20, indicating a potential 2-3x upside [6] - Catalysts for growth include industrial recovery, tonnage normalization, terminal monetization, and potential mergers and acquisitions [6]

根据公告，该批黄金截至2025年9月30日的账面价值约为940万港元，也就是其原始购入价。经扣除交易 成本（包括运输及净化费用）约10万港元后，公司预计出售收益将达约9020万港元。 买方贺利氏金属香港有限公司为贺利氏有限公司的全资附属公司，贺利氏有限公司为德国贺利氏控股集 团的全资附属公司。该集团主要从事贵金属及回收、医疗健康、半导体及电子、工业应用四大业务。贺 利氏有限公司则于1974年在香港成立，专注于贵金属业务。贺利氏有限公司为香港黄金交易所会员，并 获得伦敦金银市场协会及伦敦铂金和钯金市场的认证。 公告强调，买方及其最终实益拥有人为独立第三方。 对于出售金砖的原因，英皇娱乐酒店在公告中解释道，随着集团终止博彩业务运营，公司计划改造相关 区域，发展其他娱乐及休闲设施。"该贵金属原作为酒店室内设计及陈设的一部分，已不再与酒店未来 的主题相关。"此前，澳门英皇娱乐酒店设有博彩区——英皇宫殿娱乐场。2025年10月，英皇娱乐酒店 停止运营该娱乐场，只保留酒店业务。 金价持续高位震荡之时，昔日铺设在澳门英皇娱乐酒店大堂地面的79公斤金砖，已被英皇娱乐酒店 （HK00296）果断变卖套现。该批黄金在过去20年间 ...

"肥水不流外人田" 为减轻流动性压力、推进债务重组，1月27日，宝龙地产宣布出售宝龙商业25%股权进行资产变现。此 次接盘方并非外部资本，而是宝龙许氏家族成员控股的关联企业。 值得一提的是，宝龙地产的境外债务重组工作也迎来新进展。截至2025年12月，持有超过85.48%计划 债务的债权人已提交同意加入重组支持协议的信函。 市场人士认为，这场"肥水不流外人田"的资本操作，既解了宝龙地产短期资金的燃眉之急，又牢牢守住 了核心资产的话语权。 债务重组下的资产变现 1月27日，宝龙地产发布公告称，拟出售宝龙商业25%股份，总代价为3.61亿港元。款项分两期现金支 付，其中20%于预付款日期支付，剩余于交易完成日结清。 交易完成后，宝龙商业将仍为宝龙地产的非全资附属公司，其财务业绩、资产及负债将继续并入宝龙地 产业绩。 此次宝龙地产出售核心资产部分股权，与公司当前推进的债务重组工作密切相关。 为化解债务危机，近几年，宝龙地产一直就境外债务推进整体管理解决方案，并已制定重组及计划。 根据重组的相关条款及条件，宝龙地产需为债权人提供多种重组选项，其中就包括出售或质押宝龙商业 股份，以此筹集总计4000万美元的现金。 宝龙 ...

Core Viewpoint - The company,宏基资本, has announced a conditional sale agreement to sell its entire stake in Vibrant Colour Holdings Limited, which represents 20% of the issued share capital of the property company, along with shareholder loans owed to the company, as part of its strategy to accelerate asset monetization and streamline non-core holdings [1] Group 1: Sale Agreement Details - The sale agreement is between the company's wholly-owned subsidiary as the seller and a company ultimately owned 50% by Mr. Chen and Mrs. Chen as the buyer [1] - The total consideration for the sale will be approximately HKD 15.07 million, calculated based on the outstanding loan amount of HKD 35.02 million and 20% of the asset value, which is approximately negative HKD 19.95 million as of September 30, 2025 [1] - Upon completion, the buyer will hold 100% equity in the property company, and the group will no longer have any equity interest in the property company or the shareholder loans owed [1] Group 2: Strategic Rationale - The board believes that the proposed sale provides a good opportunity for the group to realize cash from the property and allows for a more effective allocation of resources by streamlining the asset portfolio [1] - This move is aimed at enabling the company to seize other investment opportunities and create better returns for the group [1]

Group 1 - The core point of the article is that宏基资本 (02288.HK) has entered into a conditional sale agreement to sell its 20% equity stake in Vibrant Colour Holdings Limited and the shareholder loan owed by the property company to Harbour Best Investments Limited for approximately HKD 15.07 million, based on the net asset value and outstanding loan amount as of September 30, 2025 [1] Group 2 - The property company, registered in the British Virgin Islands, primarily engages in investment holding and owns 100% of the issued share capital of subsidiary A, which in turn holds all the issued shares of subsidiary B, a Hong Kong company that owns a residential property located at 1-11 Shoushan Road, Hong Kong [2] - The residential property consists of a three-story house and two parking spaces, with a saleable area of approximately 2,657 square feet, currently vacant and without any lease agreements [2] - The property was acquired by the group on January 27, 2022, and the group sold 80% of the property company in January 2023, retaining a 20% stake [2] Group 3 - Despite ongoing pressures in the Hong Kong property and investment market, including liquidity constraints and geopolitical uncertainties, there are signs of recovery in the overall real estate market, indicating potential divestment opportunities [3] - The group aims to maintain a prudent risk management approach and optimize its investment portfolio, which has proven effective in mitigating downside risks over the past few years [3] - The board believes that the proposed sale provides a good opportunity for the group to realize cash from the property and streamline its asset portfolio for better resource allocation and investment returns [3]

Core Viewpoint - Hongji Capital (02288) has announced a conditional sale agreement to sell its entire stake in Vibrant Colour Holdings Limited, which represents 20% of the issued share capital of the property company, along with shareholder loans owed to the seller, to a buyer jointly owned by Mr. and Mrs. Chen [1] Group 1: Sale Agreement Details - The sale agreement is set to be completed on January 23, 2026, with the purchase price being the sum of the outstanding loan amount of HKD 35.02 million and 20% of the asset value as of the completion date [1] - The estimated total consideration for the sale is approximately HKD 15.07 million, based on the management accounts of the property company as of September 30, 2025, which indicates a negative asset value of approximately HKD 19.95 million [1] Group 2: Strategic Rationale - The board believes that the proposed sale provides a good opportunity for the group to realize cash from the property and allows for a streamlined asset portfolio [1] - This move aligns with the group's strategy to accelerate asset monetization and reallocate resources more effectively to seize other investment opportunities, ultimately aiming to create better returns for the group [1]

目标资产按"现状"出售，包括位于中国浙江省宁波市江北区的路劲新天地商业项目中的目标资产 A、目 标资产 B 及目标资产 C，即根据该协议将予出售的物业权益，包含位于中国浙江省宁波市江北区的路 劲新天地商业项目中的商业物业及停车位。 智通财经APP讯，路劲(01098)公布，于2026年1月23日，该公司间接全资附属宁波甬鸿置业有限公司拟 向浙江曦伦商业运营管理有限公司出售目标资产，总代价为人民币 1.003 亿元。 鉴于集团目前的财务状况及预期流动资金需求、中国房地产市场的整体前景，以及目标资产相关的具体 特徵和情况(包括其地理位置、招揽租户面临的挑战及其对集团的战略价值)，董事认为，在考虑估值报 告后，出售事项乃集团以合理代价变现目标资产的良机。出售事项将有助集团优化其资产运用效率，并 满足集团目前偿还贷款及缴税的流动资金需求。 ...