Core Viewpoint - The stock price of Shango Holdings (00412) has surged over 29% during intraday trading, with a cumulative rebound of over 60% in the past two trading days, indicating strong market interest and potential investor confidence [1] Company Developments - Shango Holdings confirmed that there are no additional reasons for the unusual stock price and trading volume fluctuations, aside from the previously announced concentrated shareholding situation on September 18 [1] - The board stated that the group's business operations remain normal, and there are no significant changes in business operations or financial status [1] - On September 16, Shango Holdings announced that the board has been authorized by shareholders to repurchase up to 10% of the issued shares by June 6, 2025, with a maximum repurchase price of 17 HKD per share and a total amount not exceeding 100 million USD [1] Strategic Transition - Since 2021, Shango Holdings has been transitioning from quasi-financial investments to industrial investment holdings, acquiring 56.97% of Shango New Energy and 42.12% of Century Internet, establishing a "New Energy + New Infrastructure" sector through synergistic empowerment and asset revitalization [1] Project Progress - The Ulanqab integrated source-network-storage project under Shango Holdings has made significant progress in the first half of the year, with the first phase of the data center already in commercial operation and the second phase steadily advancing [1] - The renewable energy generation component has completed approval and public announcement, aiming to commence construction by the end of the year [1]

Core Viewpoint - The stock of Shango Holdings (00412) has experienced a significant rebound, rising over 29% in intraday trading and accumulating a total increase of over 60% in the past two trading days, with a current price of 5.43 HKD and a trading volume of 5.596 billion HKD [1] Group 1: Stock Performance - Shango Holdings' stock price increased by 24.54% as of the latest report [1] - The company has seen a trading volume of 55.96 billion HKD, indicating high investor interest [1] Group 2: Company Announcements - The board of directors confirmed that there are no other reasons for the stock price and trading volume fluctuations, aside from the previously announced concentrated shareholding [1] - The board stated that the company's business operations remain normal, with no significant changes in operational or financial status [1] Group 3: Share Buyback Plan - On September 16, Shango Holdings announced that the board received shareholder authorization to repurchase up to 10% of the issued shares by June 6, 2025 [1] - The buyback price is set at a maximum of 17 HKD per share, with a total amount not exceeding 100 million USD [1] Group 4: Business Transformation - Since 2021, Shango Holdings has been transitioning from quasi-financial investments to industrial investment holdings [1] - The company has acquired 56.97% of Shango New Energy and 42.12% of Century Internet, establishing a "New Energy + New Infrastructure" sector through synergistic empowerment and asset revitalization [1] Group 5: Project Developments - The Ulanqab integrated source-network-storage project under Shango Holdings has made significant progress in the first half of the year [1] - The first phase of the data center has commenced commercial operations, while the second phase is progressing steadily, with the renewable energy generation part having completed approval and public notice, aiming to start construction by the end of the year [1]

Core Viewpoint - The company has received shareholder approval for a share buyback program, reflecting confidence in its business development and long-term strategy, while maintaining financial stability [1] Group 1: Share Buyback Program - The board of the company has been authorized to repurchase up to 10% of its issued shares, with a maximum buyback price of HKD 17 per share and a total amount not exceeding USD 100 million [1] - The funds for the buyback will come from the company's existing cash flow or working capital [1] Group 2: Financial Performance - For the first half of the year, the company reported revenue of CNY 2.503 billion, a year-on-year decline of 11.64%, with emerging industries contributing 96% of the revenue [1] - The net profit for the period was CNY 476 million, a significant increase of 506% year-on-year, and the attributable net profit was CNY 49.6 million, recovering from a loss of CNY 363 million in the same period last year [1] Group 3: Project Developments - The company’s integrated project in Ulanqab has made significant progress, with the first phase of the data center now in commercial operation and the second phase advancing steadily [2] - The renewable energy generation part of the project has completed approval and public announcement, aiming to commence construction by the end of the year [2] - The expected economic benefit from the Ulanqab data center, if fully powered by the planned 1GW data center, could reach CNY 1.3 billion annually [2] Group 4: Strategic Investments - In December 2023, the company strategically invested USD 299 million in Century Internet, becoming its largest institutional shareholder, marking a shift towards a dual-driven model of "energy + technology" [2] - The collaboration in computing has shown significant results, according to research from Dongwu Securities [2]

Group 1 - The board of directors of Shankou Holdings (00412) has been authorized by shareholders to repurchase up to 10% of its issued shares, with a maximum repurchase price of HKD 17 per share and a total amount not exceeding USD 100 million [1] - The company believes that the share repurchase reflects confidence in its business development and prospects, aligns with its long-term development strategy, and will not affect its financial stability [1] - As of September 16, the stock price has increased over 120% since April, closing at HKD 12.61, with a total market capitalization of HKD 95.905 billion [1] Group 2 - Shankou Holdings' revenue for the first half of the year reached CNY 2.503 billion, a year-on-year decline of 11.64%, primarily due to a strategic reduction in traditional investment businesses [1] - The company achieved a net profit of CNY 476 million, a significant increase of 506% year-on-year, with a net profit attributable to shareholders of CNY 49.6 million, recovering from a loss of CNY 363 million in the same period last year [1] - The Ulanqab integrated project has made key progress, with the first phase of the data center now in commercial operation and the second phase advancing steadily [2] Group 3 - The Ulanqab project is expected to provide green electricity at a cost lower than conventional thermal power by approximately 1-2 cents per kilowatt-hour [2] - If the Ulanqab data center is fully powered by the planned third phase of 1GW, the projected annual economic benefit could reach CNY 1.3 billion [2] - In December 2023, Shankou Holdings strategically invested USD 299 million in Century Internet, becoming its largest institutional shareholder, marking a transition from renewable energy to a dual-driven model of "energy + technology" [2]

Core Viewpoint - Shandong High Holdings (00412) experienced a significant drop of nearly 30% today, despite a cumulative increase of over 120% since April. The stock is currently trading at 12.61 HKD with a transaction volume of 312 million HKD [1] Financial Performance - For the first half of the year, the company reported revenue of 2.503 billion HKD, a year-on-year decline of 11.64%, with emerging industries contributing 96% of the revenue [1] - The net profit for the period reached 476 million HKD, a substantial increase of 506% year-on-year; the attributable net profit was 49.6 million HKD, recovering from a loss of 363 million HKD in the same period last year [1] Strategic Developments - The decline in revenue is attributed to the company's strategic decision to reduce traditional investment operations and to actively withdraw from low-margin or high-risk businesses [1] - The Ulanqab integrated source-network-load-storage project has made significant progress in the first half of the year, with the first phase of the data center now in commercial operation and the second phase advancing steadily [1] - The renewable energy generation component of the project has completed approval and public announcement, aiming to commence construction by the end of the year [1] Economic Impact - The Ulanqab project is expected to provide green electricity at a cost approximately 1-2 cents lower per kilowatt-hour compared to conventional thermal power [1] - According to Zhongtai Securities, if the Ulanqab data center is fully powered by the planned third phase of the 1GW data center, the projected annual incremental economic benefit could reach 1.3 billion HKD [1]

Core Viewpoint - Shandong High Holdings (00412) experienced a significant drop of nearly 30% today, despite a cumulative increase of over 120% since April. The stock is currently down 24.22% at HKD 12.61, with a trading volume of HKD 312 million [1] Financial Performance - For the first half of the year, Shandong High Holdings reported revenue of CNY 2.503 billion, a year-on-year decline of 11.64%, with emerging industries contributing 96% of the revenue [1] - The company achieved a net profit of CNY 476 million, a substantial increase of 506% year-on-year, while the attributable net profit was CNY 49.6 million, recovering from a loss of CNY 363 million in the same period last year [1] Strategic Developments - The decline in revenue is attributed to the company's strategic decision to reduce traditional investment operations and to actively withdraw from low-margin or high-risk businesses [1] - Notably, the Ulanqab integrated energy storage project under Shandong High Holdings made significant progress in the first half of the year. The first phase of the data center has commenced commercial operations, and the second phase is progressing steadily [1] - The renewable energy generation component of the Ulanqab project has completed approval and public announcement, with plans to start construction by the end of the year. The expected cost of green electricity is projected to be approximately 1-2 cents lower per kilowatt-hour compared to conventional coal power [1] Economic Impact - According to Zhongtai Securities (600918), if the Ulanqab data center is fully powered by the planned 1GW data center in the third phase, the expected annual incremental economic benefit could reach CNY 1.3 billion [1]