Core Viewpoint - The UK government has announced a ten-year infrastructure strategy, planning to invest at least £725 billion to enhance national infrastructure, emphasizing its critical role in economic growth and job creation [1] Group 1: Key Areas of Investment - Housing: A ten-year affordable housing plan aims to deliver 1.5 million new homes during the current parliamentary term through investments from the National Housing Bank [2] - Transportation: The strategy includes the Thames Tideway Tunnel project and the establishment of a "structural fund" to renovate the road network [3] - Water: Water companies are expected to quadruple their investment in new infrastructure over the next five years, including the construction of nine new reservoirs [4] Group 2: Leveraging Private Investment - The strategy aims to leverage the National Wealth Fund to attract private sector investment, thereby driving economic growth across the UK [5] Group 3: Energy and Education Initiatives - Clean Energy: Investments will be made in the UK's first regional hydrogen transport network and energy storage facilities, along with strategic transmission network and electric vehicle charging infrastructure [5] - Schools: Under the existing "School Rebuilding Program," over 500 schools will be rebuilt, with an additional 250 schools included in the plan, ensuring funding through the fiscal year 2034/2035 [6] Group 4: Healthcare and Digital Infrastructure - Hospitals: The "New Hospitals Program" will see the construction of 35 new hospitals in England [7] - Digital Connectivity: The strategy will continue to advance the "Gigabit Project" to promote high-speed internet access [9] Group 5: Flood Defense and Justice - Flood Defense: A ten-year flood investment plan will be implemented [10] - Justice: Three new prisons will be constructed in England by 2031 [11] Group 6: Defense Spending - The government commits to increasing defense spending to 2.6% of GDP by 2027 [12] Group 7: Implementation and Political Context - The newly established National Infrastructure and Services Transformation Agency (NISTA) will lead the implementation of the strategy, with the first infrastructure projects to be announced in July [12] - The strategy is seen as a means to convert public investment into political capital ahead of the next general election, particularly focusing on traditional Labour strongholds in Northern and Central England and Wales [12]

证券代码：601669 股票简称：中国电建 公告编号：临 2025-034 中国电力建设股份有限公司 2025 年 1 月至 5 月主要经营情况公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 现将中国电力建设股份有限公司2025年1月至5月主要经营情况公布如下，供投 资者参阅。 一、按业务类型统计 | 业务类型 | 新签项目数量（个） | 新签合同金额 | 同比增减 | | --- | --- | --- | --- | | 能源电力 | 2408 | 3012.48 | 4.44% | | 水电 | 488 | 653.87 | 60.66% | | 其中：抽水蓄能 | 238 | 256.51 | 4.63% | | 风电 | 531 | 1018.01 | 67.33% | | 太阳能发电 | 482 | 854.81 | -32.61% | | 火电 | 224 | 146.99 | -62.28% | | 新型储能 | 65 | 107.50 | / | | 其他 | 618 | 231.30 | / | | ...

Core Viewpoint - The Hong Kong Dividend ETF Fund (513820) has shown resilience with a slight decline of 0.59% while experiencing net inflows for three consecutive days, highlighting its attractiveness in the market [1] Group 1: Fund Performance - The Hong Kong Dividend ETF Fund (513820) has distributed dividends for 11 consecutive times, leading in the number of distributions among Hong Kong dividend ETFs [1] - The fund's underlying index, the China Securities Hong Kong Stock Connect High Dividend Index, boasts a dividend yield of over 8% in the past 12 months, ranking it among the top in its category [5][6] - The fund's total return index has demonstrated strong long-term performance, with cumulative returns significantly higher than other similar dividend indices since 2017, indicating robust reinvestment effects [9] Group 2: Index Characteristics - The underlying index of the Hong Kong Dividend ETF Fund (513820) is classified as a pure dividend index, with stock selection and weighting based solely on dividend yield [6][4] - The index maintains a balanced industry distribution, with significant allocations in traditional high-dividend sectors such as banking (26.3%) and oil and petrochemicals (9.9%), while also diversifying into transportation (19.8%) and telecommunications (9.3%) [7] Group 3: Investment Strategy - The fund employs an innovative "monthly evaluation of dividends" strategy, allowing for up to 12 distributions per year, which enhances its appeal to investors seeking predictable income [14] - The fund's valuation advantage is highlighted by its lower valuation compared to A-shares, providing a more substantial margin of safety for investors [14] - The fund focuses on high-quality, high-dividend leading stocks, with a total of 30 constituent stocks, ensuring a concentrated yet diversified investment approach [14]