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 性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份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。 | 全資擁有或 | | | 售電量（兆瓦時） | | | | | --- | --- | --- | --- | --- | --- | --- | | 控制的發電廠 | 2026 年 | 2025 年 | 同比變化 | 2026 年 | 2025 年 | 同比變化 | | | 2 月 | 2 月 | | 首兩個月 | | | | 水力發電 | 1,030,322 | 966,283 | 6.63% | 2,004,898 | 2,151,452 | -6.81% | | 風力發電 | 2,312,231 | 2,573,945 | -10.17% | 5,008,635 | 5,224,549 | -4.13% | | 光伏發電 | 1,562,832 | 1,816,894 | -13.98% | 3,362,712 | 3,570,197 | -5.81% | | 燃煤發電 | 2,972,798 ...

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佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公佈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。 CORNERSTONE TECHNOLOGIES HOLDINGS LIMITED 基石科技控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8391） 自願性公告 關於SPARK與南方電網瀾湄國際戰略合作之諒解備忘錄 本公司董事（「董事」）會（「董事會」）欣然宣佈，於2026年3月25日，本公司之聯營公司Spark EV Company Limited（「Spark」）與南方電網瀾湄國際能源有限責任公司（「南方電網瀾湄國 際」）訂立諒解備忘錄（「諒解備忘錄」）。 根據諒解備忘錄，Spark與南方電網瀾湄國際將合作推進Spark的發展。此合作的主要目標 是推進Spark擴展至全泰國擁有超過1,000個充電站。 此外，雙方表達了將合作範圍擴展至泰國以外的地區，包括馬來西亞、印尼、柬埔寨、老 撾、緬甸及越南的機遇，重點針對電動車滲透力強且電動車充電基礎設施發展潛力巨大 的地區。 — 1 — 訂立諒 ...

Investment Rating - The report assigns a "Buy" rating for the company with a target price of HKD 4.00, representing a potential upside of 24% from the current stock price of HKD 3.23 [2]. Core Insights - The company's overall performance is under pressure due to clean energy sector challenges, but there is optimism regarding its strategic transformation [5]. - The company is expected to improve its financial health, with a projected free cash flow turning positive at RMB 320 million in 2025, compared to a negative RMB 17.1 billion in 2024 [5]. - The report highlights a shift in capital expenditure strategy from prioritizing scale to focusing on efficiency, with capital expenditures expected to stabilize around RMB 20 billion in the future [5]. Financial Summary - Revenue for 2025 is projected at RMB 49.03 billion, a decrease of 9.6% year-on-year, with a slight recovery expected in subsequent years [5][6]. - The net profit attributable to ordinary shareholders for 2025 is forecasted at RMB 2.91 billion, down 13.5% from the previous year [5][6]. - The company’s operating cash flow is expected to grow by 74.4% year-on-year to RMB 18.52 billion in 2025 [5][6]. - The company’s coal power segment showed a net profit increase of 45.8% to RMB 2.27 billion, benefiting from a 13.98% decrease in unit fuel costs [5][6]. Market Performance - The stock is currently trading at a price-to-earnings (P/E) ratio of 12.5 and a price-to-book (P/B) ratio of 0.6 based on the current price of HKD 3.23 [3][5]. - The dividend per share is projected to be RMB 0.168 for 2025, with a significant increase in the payout ratio to approximately 71% [5][6].

Market Overview - The Hang Seng Index closed at 25,757.29, up 1.72% or 435 points, with a trading volume of HKD 292.77 billion, down 9% from the previous day[5] - The Dow Jones fell by 0.95% to 47,501.55, while the S&P 500 and Nasdaq dropped by 1.33% and 1.59%, respectively[5] Economic Indicators - The US inflation data is being closely monitored, with concerns that rising oil prices may hinder interest rate cuts[2] - The Middle East conflict continues to impact market sentiment, with experts predicting that the Hang Seng Index may test the 25,000 level[2] Sector Performance - Financial stocks showed positive movement, with HSBC (5.HK) rising by 1% and AIA (1299.HK) increasing by 0.6%[5] - The technology index experienced a decline of 10.31% year-to-date, indicating significant volatility in this sector[5] Company Updates - JD.com (9618.HK) reported better-than-expected performance, with its stock rising by 10%[5] - New City Development (1030.HK) has initiated a public offering for a real estate investment trust, which has been accepted by regulatory authorities[6] Commodity Prices - New York crude oil prices surged by 12.21% to USD 90.90 per barrel, reflecting a year-to-date increase of 90.37%[5] - Gold prices also saw an increase of 1.58%, with a year-to-date rise of 16.48%[5]

Market Performance - The Hang Seng Index (HSI) rose by 175 points or 0.7%, closing at 26,765 points[1] - The Shanghai Composite Index increased by 29 points or 0.7%, ending at 4,147 points[1] - The S&P 500 gained 56 points or 0.8%, closing at 6,946 points[2] Trading Volume - The total trading volume in the Hong Kong market was HKD 236.765 billion[1] - The average daily trading volume in the Hong Kong market last year was HKD 250 billion, contributing to stamp duty revenue of HKD 99.5 billion[3] Currency and Monetary Policy - The People's Bank of China conducted a reverse repurchase operation of CNY 409.5 billion at an interest rate of 1.4%[1] - The RMB/USD midpoint rate was reported at 6.9321, the highest since May 11, 2023[1] Corporate Transactions - Cheung Kong Infrastructure, Power Assets, and CK Asset sold their entire stake in UK Power Networks for approximately GBP 10.548 billion (about HKD 110.754 billion)[3] - The transaction values UK Power Networks at GBP 16.838 billion (approximately HKD 176.8 billion)[3] Company Performance - Neway Technology reported a net profit of HKD 531 million, up 9.7% year-on-year, with an interim dividend of HKD 0.12[4] - Nine Dragons Paper's revenue was CNY 37.221 billion, up 11.2% year-on-year, with a net profit of CNY 1.966 billion, a significant increase of 318.8%[4]

Market Overview - The Hang Seng Index closed at 26,585.06 points, up 0.37% for the day and 3.72% year-to-date[5] - The Technology Index rose by 1.11%, with a year-to-date increase of 14.18%[5] - The Financial Index decreased by 0.44%, while the Utilities Index increased by 1.15% year-to-date[5] Key Stock Movements - Kuaishou (1024.HK) surged by 3.6%, Baidu (9888.HK) rose by 3.3%, and Alibaba (9988.HK) increased by 2.2%[7] - Semiconductor stocks showed gains, with SMIC (981.HK) up 3.7%, and Hua Hong Semiconductor (1347.HK) up 5.2%[7] Economic Indicators - The U.S. 10-year Treasury yield rose to 4.2448%, reflecting a 7.54 basis point increase over five days[23] - The U.S. dollar index stood at 98.78, with a year-to-date change of 0.47%[23] Corporate Actions - China Shipbuilding Leasing (3877.HK) plans to issue HKD 2.338 billion convertible bonds due in 2031, with net proceeds of approximately HKD 2.322 billion for operational and general corporate purposes[7] - Nanshan Aluminum (2610.HK) announced a placement of 31 million shares at a discount of 6.39% to raise HKD 2 billion[7] Commodity Prices - Gold prices surpassed HKD 4,800, with several gold mining stocks reaching new highs[2] - New York crude oil closed at USD 60.62 per barrel, up 0.46%[7]

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 亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份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。 中 國 電 力 國 際 發 展 有 限 公 司 China Power International Development Limited （在香港註冊成立的有限責任公司） （股份代號：2380） 1 附註： 二零二五年十月售電量 中國電力國際發展有限公司（「本公司」）宣佈，根據本公司的初步統計，本公司及 其附屬公司（統稱「本集團」）於二零二五年十月的合併總售電量為 9,235,140 兆瓦時， 較去年同月減少 5.29%，而二零二五年首十個月的合併總售電量為 105,502,111 兆瓦時， 較去年同期減少 2.51%。 本集團於二零二五年十月及截至二零二五年十月三十一日止十個月的總售電量，按發 電廠類型列示如下： | 全資擁有或 | | | 售電量（兆瓦時） | | | | | --- | --- | --- | --- | --- | --- | --- | | 控制的發電廠 | 2025 年 | ...

Market Overview - The Hang Seng Index closed at 26,572 points, down 500 points or 1.9% from the previous day, with a total turnover of HKD 232.79 billion, a decrease of 14% day-on-day[6]. - Year-to-date performance shows the Hang Seng Index has increased by 31.81%, while the Financial Index has risen by 19.00%[4]. Sector Performance - Technology stocks faced significant declines, with Baidu down 7.2%, JD Group down 6.0%, and Alibaba down 4.4%[6]. - Conversely, pharmaceutical stocks performed well, with Wangshan Wangshui up 23.9%, Gilead Sciences up 15.5%, and Laika Pharmaceuticals up 12.2%[6]. Economic Indicators - The unemployment rate is expected to decrease, although some scholars view this as overly optimistic[3]. - Foreign investment in Chinese stocks reached nearly HKD 400 billion in the first ten months of the year[3]. Company News - Financial One Account (6638.HK) announced that its privatization plan has been approved by the court, expected to take effect on November 19[6]. - Hope Education International Holdings (1765.HK) is selling its 100% stake in Xi'an Benos Education Management for RMB 10 million, with a total cash settlement of RMB 380 million[6]. Global Market Trends - The Dow Jones Industrial Average closed at 47,147 points, down 309 points or 0.65%, while the S&P 500 fell by 0.05% to 6,734 points[6]. - The Nasdaq Composite rose by 0.13% to 22,900 points, indicating mixed performance among major U.S. indices[6]. Commodity Prices - New York crude oil prices increased by 2.39% to USD 60.09 per barrel, while Brent crude rose by 2.19% to USD 64.39 per barrel[4].

Economic Indicators - China's Consumer Price Index (CPI) rose by 0.2% in October, marking a shift from two consecutive months of deflation[2] - The Producer Price Index (PPI) saw a narrowing decline, indicating potential stabilization in manufacturing prices[2] Market Performance - The Hang Seng Index closed at 26,241.83 points, down 0.92% for the day and up 30.82% year-to-date[5] - The Technology Index fell by 1.80%, while the Financial Index decreased by 0.22%[5] Stock Highlights - HKTVmall reported a total merchandise transaction value of HKD 688 million in October, a month-on-month increase of 6.01% but a year-on-year decrease of 4.31%[7] - Major blue-chip stocks showed weakness, with HSBC down 0.6% and Hong Kong Exchanges and Clearing down 1%[7] Investment Recommendations - Tencent Holdings (700.HK) has a target price of HKD 550, with a current price of HKD 554, reflecting a 6.18% increase from the recommendation date[10] - The stock of Minth Group (425.HK) is recommended with a target price of HKD 41, currently priced at HKD 38.14, showing a year-to-date increase of 152.25%[12] Commodity Prices - New York crude oil prices rose by 0.54% to USD 59.75 per barrel, while Brent crude increased by 0.39% to USD 63.63[5] - Gold prices increased by 0.47%, reaching USD 4,009.80 per ounce, with a year-to-date increase of 52.28%[5]

2025 年 9 月，本公司自有鐵路運輸周轉量同比增長的主要原因，是自有鐵路沿 線煤源充足帶來鐵路運量增加；黃驊港裝船量、天津煤碼頭裝船量同比增長的主要原 因，是到港資源量增加及上年同期基數較低；航運貨運量及周轉量同比下降的主要原 因，是業務結構調整、航線結構變化；總發電量、總售電量同比下降的主要原因，是 受天氣影響部分區域用電需求不足、新能源出力增加等。 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，並明確表示概不就因本公告全部或任何部份內 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。 (在中華人民共和國註冊成立的股份有限公司) (股份代碼: 01088) 2025 年 9 月份主要運營數據公告 (海外監管公告) 中國神華能源股份有限公司（「本公司」）董事會及全體董事保證本公告內容不 存在任何虛假記載、誤導性陳述或者重大遺漏，並對其內容的真實性、準確性和完整 性承擔法律責任。 | | | 2025 | 年 | 2024 | 年 | 同比变化 | | | --- | --- | --- | --- | --- | --- | --- | ...