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之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並表明概不就因本公告之全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 第一太平有限公司 （根據百慕達法例註冊成立之有限公司） （股份代號：00142） 網址：www.firstpacific.com METRO PACIFIC INVESTMENTS CORPORATION 有關其截至2025年9月30日止9個月之 未經審核綜合財務業績之自願新聞稿 概要 MPIC已於2025年11月17日刊發自願新聞稿，其載有關於其截至2025年9月30日止 9個月之未經審核綜合財務業績的財務資料。 第一太平有限公司（「第一太平」或「本公司」）發表本公告，以自願向第一太平之股 東及公眾提供有關第一太平集團於2025年9月30日擁有約49.9%經濟權益之公司 Metro Pacific Investments Corporation（「MPIC」）截至2025年9月30日止9個月之未經 審核綜合財務業績之相關資料。 誠如本公司日期為2023年8月7日的通函及本公司日期為2023年9月8日、9月 ...

Core Viewpoint - The implementation of benchmarking against world-class enterprises is a crucial measure for advancing state-owned enterprise (SOE) reform and enhancing efficiency and development [1][3] Group 1: Benchmarking Implementation - The benchmarking initiative aims to address the disparity in performance among SOEs, as many exhibit strong asset totals and revenue but lack competitive profitability compared to industry leaders [3][4] - Water Development Group has established a "2+2+2" operational management benchmarking system, focusing on internal and external benchmarking to enhance performance in various sectors such as water supply, wastewater treatment, and renewable energy [2][5] Group 2: Challenges in Benchmarking - A common issue faced by SOEs is the difficulty in finding comparable external benchmarks due to differing development stages and operational contexts, leading to ineffective benchmarking practices [4][5] - Previous benchmarking efforts often focused on external comparisons, which did not yield actionable insights due to the unique circumstances of each enterprise [4][5] Group 3: Benchmarking System Features - The "2+2+2" system includes two levels of benchmarking (secondary companies and project companies), supported by standardized operational management and demonstration facilities [5][8] - The internal benchmarking indicators include return on net assets, income profit margin, gross profit margin, and direct operating costs, evaluated dynamically to encourage continuous improvement [8][9] Group 4: Performance Improvements - Water Development Group reported significant reductions in operational costs across various sectors, with specific decreases in unit costs for water supply, heating, and renewable energy [12][14] - The profitability of Water Development Group's subsidiaries has improved, with notable increases in profit and cash flow, indicating the effectiveness of the benchmarking system [14][15] Group 5: Future Directions - The company plans to maintain a focus on internal benchmarking while enhancing the conversion of external benchmarking experiences into actionable strategies for continuous improvement [16]

Core Viewpoint - Jiangnan Waterworks (601199.SH) aims to optimize resource allocation and enhance operational efficiency by marketizing its electromechanical maintenance business, seeking new development paths and growth opportunities [1] Company Strategy - The company plans to establish "Jiangyin Runlian Technical Service Co., Ltd." with a registered capital of 10 million yuan, in collaboration with its wholly-owned subsidiary Jiangnan Waterworks Municipal Engineering Jiangyin Co., Ltd. and Jiangyin Hengtong Drainage Facility Management Co., Ltd. [1] - Jiangnan Waterworks will contribute 5.1 million yuan, holding a 51% stake, while the municipal engineering company will invest 3.3 million yuan for a 33% stake, and Hengtong Drainage will invest 1.6 million yuan for a 16% stake [1] - The funding will come from the company's and its subsidiaries' own funds [1]

格隆汇11月13日丨江南水务(601199.SH)公布，为优化资源配置，提升专业化水平与运营效率，提升公 司核心竞争力，公司拟将机电维修业务进行市场化运作，以寻求新的发展路径和增长空间，公司与全资 子公司江南水务市政工程江阴有限公司(以下简称"市政工程公司")、江阴市恒通排水设施管理有限公司 (以下简称"恒通排水公司")共同投资设立"江阴润联技术服务有限公司"(暂定名，以工商登记机关核准为 准)，注册资本为1,000万元，其中公司出资510万元，占注册资本的51%，市政工程公司出资330万元， 占注册资本的33%，恒通排水公司出资160万元，占注册资本的16%。资金来源为公司及子公司的自有 资金。 ...

江南水务（601199）(601199.SH)发布公告，为优化资源配置，提升专业化水平与运营效率，提升公司 核心竞争力，公司拟将机电维修业务进行市场化运作，以寻求新的发展路径和增长空间，公司与全资子 公司江南水务市政工程江阴有限公司(简称"市政工程公司")、江阴市恒通排水设施管理有限公司(简 称"恒通排水公司")共同投资设立"江阴润联技术服务有限公司"，注册资本为1000万元，其中公司出资 510万元，占注册资本的51%，市政工程公司出资330万元，占注册资本的33%，恒通排水公司出资160 万元，占注册资本的16%。 ...

Core Viewpoint - Beikong Water Group (00371) plans to issue medium-term notes amounting to RMB 2 billion in China, with the proceeds aimed at repaying loans from foreign financial institutions [1] Group 1 - The company intends to issue the second phase of medium-term notes for the year 2025, with a total principal amount of RMB 2 billion [1] - The notes will have two varieties: one with a maturity of three years and another with a maturity of five years [1] - The entire raised funds from the medium-term notes will be used specifically for repaying loans from overseas financial institutions [1]

Core Viewpoint - The company plans to issue a second phase of medium-term notes in 2025 with a total amount of RMB 2 billion, aimed at repaying loans from foreign financial institutions [1] Group 1 - The company intends to issue medium-term notes in China with a principal amount of RMB 2 billion [1] - The first type of notes will have a maturity of three years, while the second type will have a maturity of five years [1] - The funds raised from the issuance will be used entirely for repaying loans from overseas financial institutions [1]

Core Viewpoint - Beikong Water Group has submitted an application to the China Interbank Market Dealers Association for a unified registration quota of RMB 15 billion for various debt financing instruments, which was approved in June 2025, allowing for timely issuance [1] Group 1 - The company plans to issue RMB 2 billion of medium-term notes for the second phase of 2025, with a three-year term for one type and a five-year term for another type [1] - The funds raised from the second phase of medium-term notes will be used entirely to repay loans from foreign financial institutions [1] - Any ambiguities regarding the principal amount, term, interest rate, and use of proceeds from the issuance of the second phase of medium-term notes will be clarified in the prospectus published at the time of issuance [1]

Core Viewpoint - The Hong Kong stock market showed a mixed performance with the Hang Seng Technology Index declining by 0.77% and the Hang Seng Index falling by 0.58% [1] Market Performance - The Hong Kong Technology ETF (159751) increased by 0.09% while the Hang Seng Hong Kong Stock Connect ETF (159318) decreased by 0.28% [1] - Sectors such as metals and mining, as well as passenger airlines, experienced notable gains, whereas water utilities, hotels, and resort REITs faced significant declines [1] Individual Stock Movements - Ganfeng Lithium surged by 11.25%, BeiGene rose by 6.96%, and China National Pharmaceutical Group increased by 6.36% [1] - Other notable gainers included Luoyang Molybdenum at 5.95%, Innovent Biologics at 5.45%, Kelun-Biotech at 5.13%, China Southern Airlines at 4.54%, and China Aluminum at 4.22% [1] - On the downside, Maxonic fell by 13.62% and Legend Holdings dropped by 17.57% [1] - Noteworthy gainers also included Samsonite, which rose by 17.99%, and Longpan Technology, which increased by 16.34% [1]

Group 1: Company Strategy and Development - The company is focusing on a strategic transformation to enhance operational quality and efficiency through business structure adjustments [2][3] - The core strategy, termed "12256 Strategy," aims to optimize business layout and expand market share in core areas such as membrane products and water operations [2] - The company is transitioning from a model of large investments and projects to one emphasizing high value-added businesses, targeting quality and efficiency improvements [2][3] Group 2: New Business Directions - The company is prioritizing three high-potential new business areas aligned with national strategic emerging industries: high-end membrane materials, resource utilization, and applications in the biopharmaceutical sector [3] - In high-end membrane materials, the focus is on pharmaceutical and industrial specialty membranes, with a current domestic market reliance on imports below 30%, indicating significant potential for domestic substitution [3] - The company is also expanding into salt lake resource utilization and seawater desalination, supported by favorable policies and growing market demand [3] Group 3: Operational Challenges and Solutions - The company is addressing significant accounts receivable pressures, a legacy issue from previous expansive growth, through targeted recovery strategies [4] - A special task force has been established to enhance collection efforts, particularly for long-aged receivables, and the company is actively participating in local government debt resolution initiatives [4] - Recent financing announcements are part of normal operations to manage cash flow and are not indicative of any immediate operational risks [4]