Core Viewpoint - The recent action plan aims to promote the integration of new-generation information technology with urban infrastructure construction, enhancing the resilience and livability of cities by 2027 [1][2]. Group 1: Action Plan Details - The action plan is a detailed implementation of the guidelines issued in December last year regarding the construction of resilient cities [2]. - Key measures include the promotion of smart municipal infrastructure construction and renovation, focusing on improving urban living conditions and community spaces [4][7]. Group 2: Economic Impact - The initiative is expected to increase overall social investment, contributing to economic stability and the high-quality development of various industries, including real estate [2][6]. - The projected investment demand for building resilient cities is estimated to exceed 5 trillion yuan, driven by urban renewal and infrastructure improvements [6]. Group 3: Technological Integration - The integration of new-generation information technology is crucial for enhancing urban governance capabilities and ensuring city safety [3]. - Digital technologies will facilitate precise management of urban affairs, transitioning from traditional operations to intelligent and efficient governance [3]. Group 4: Market Growth - The smart parking market in China is projected to grow from 32 billion yuan in 2024 to 86 billion yuan by 2030, indicating a rapid expansion driven by technological advancements [5].

Core Viewpoint - The company, Peiran Environmental Protection (08320), has established a wholly-owned subsidiary, Shanghai Peiran Environmental Technology Service Co., Ltd., to expand its business in mainland China, particularly in the Yangtze River Delta region and nationwide [1] Group 1: Business Expansion - Shanghai Peiran aims to provide consulting services in green, healthy, and smart buildings, ESG strategies, carbon neutrality, sustainable industrial parks, green finance, and innovative technologies [1] - The future development of these services includes: (i) one-stop services for green, healthy, and smart buildings, including design, certification, operation, and updates; (ii) enhancing ESG and dual carbon goal solutions to facilitate sustainable transformation for enterprises and industrial parks; (iii) promoting green finance and disclosure systems to add value for real estate developers and other industry clients; and (iv) establishing cross-regional and professional cooperation networks to support national carbon peak and carbon neutrality goals [1] Group 2: Expertise and Certifications - Shanghai Peiran has assembled a team of professional consultants with extensive practical certification experience in various fields, including green, healthy, and smart buildings, ESG, climate transition, carbon neutrality, green technology, green finance, and building performance simulation [2] - The certifications held by the team include GRESB Global Real Estate Sustainability Benchmark, LEED Volume Certification, LEED Communities Certification, LEED Zero Certification, WELL Building Certification, SITES Certification, TRUE Waste Certification, PARKSMART Certification, ISO 14064, Science-Based Targets Initiative (SBTi), GRI Sustainability Reporting Standards, ISSB International Sustainability Standards Board Standards, and green finance taxonomy, as well as carbon inventory and carbon audit certifications [2]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）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分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。 ALLIED SUSTAINABILITY AND ENVIRONMENTAL CONSULTANTS GROUP LIMITED 自願公告 拓展中國內地業務 沛然環保顧問有限公司 （於開曼群島註冊成立的有限公司） 此 乃 沛 然 環 保 顧 問 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）自 願 作 出 的 公 告，以 向 其 股 東 及 有 意 投 資 者 提 供 有 關 本 公 司 業 務 發 展 的 最 新 資 料。 為 進 一 步 拓 展 中 國 內 地 的 業 務，本 公 司 近 期 成 立 了 一 家 間 接 全 資 附 屬 公 司，上 海 沛 然 環 保 科 技 服 務 有 限 公 司（「上海沛然」）。 （股份代號：8320） ...

Core Viewpoint - The establishment of the Xiamen Smart Building Standardization Technical Committee marks a new phase in the development of smart buildings in Xiamen, aiming to enhance the quality and vitality of the local smart building industry [1][5]. Group 1: Smart Building Development - Smart buildings are closely related to citizens' daily lives, including efficient office buildings, smart parks, historical buildings, cultural venues, and healthy living communities [3]. - As a crucial component of smart cities, smart buildings represent the practical application of new productive forces in urban construction, contributing to high-quality urban development and improving people's livelihoods [3]. Group 2: Standardization Committee Formation - The rapid development of the smart building industry in Xiamen necessitates the establishment of a standardized system tailored to local conditions [5]. - The committee consists of 45 cross-disciplinary experts, including industry representatives, scholars, and key personnel from enterprises in Xiamen and Taiwan, covering the entire smart building industry chain [5]. - The committee aims to provide unified technical specifications and evaluation criteria to support healthy industry development and activate new urban development momentum [5]. Group 3: Future Goals and Tasks - The committee will focus on four core tasks: developing standards using AI digital platforms and green technologies, creating local-specific standards, building an expert think tank for technical support, and promoting cross-strait industrial integration [5][6]. - The committee's establishment is a step towards implementing national standardization strategies and enhancing the quality of the region, contributing to the development of new productive forces [5][6].

Core Viewpoint - Hong Kong serves as a global financial hub, providing a bridge for mainland enterprises to connect with global capital, showcasing resilience amid challenges like U.S. interest rate hikes and geopolitical fluctuations [1] Group 1: Company Performance - The company achieved operating revenue of RMB 150 billion in 2024, a year-on-year increase of 0.9% [4] - Operating gross profit reached RMB 17.596 billion, with a gross margin of 11.7%, reflecting a 0.1 percentage point increase [4] - Net profit was RMB 3.607 billion, with a net profit margin of 2.4%, remaining stable year-on-year [4] - Free cash flow increased by 20.4% to RMB 5.214 billion, maintaining a healthy cash flow level [4] - The company declared a dividend of RMB 0.2187 per share for 2024, with a payout ratio of 42%, consistently above 40% over the past three years [4] Group 2: Business Segments - The telecommunications infrastructure service revenue was RMB 75.172 billion, accounting for 50.1% of total revenue, influenced by cautious client investments [6] - Business process outsourcing services generated RMB 43.459 billion, representing 29.0% of total revenue, with a focus on optimizing low-margin product distribution [6] - Revenue from digital services and applications exceeded RMB 31.369 billion, surpassing 20% of total revenue, marking it as a key growth driver for three consecutive years [6] Group 3: Market Strategy - The company is focusing on the domestic telecommunications operator market by enhancing service delivery quality through digital means and addressing new demands in infrastructure and digital transformation [8] - In the non-operator market, the company is targeting high-value industries and accelerating the development of digital services, exploring areas like low-altitude economy and artificial intelligence [8] - The company is expanding its overseas operations in line with the Belt and Road Initiative, replicating domestic capabilities in digital infrastructure and new energy projects [10] Group 4: Innovation and Development - The company emphasizes technological innovation as a driver for high-quality development, focusing on strategic emerging industries and enhancing its product offerings [18] - It has developed over 40 products with a value exceeding RMB 10 million and holds more than 3,900 patents and 10,500 software copyrights [18] - The company aims to enhance its core capabilities by integrating new technologies like AI, cloud computing, and quantum communication into its service offerings [19] Group 5: Investor Relations - The company is committed to strengthening investor relations, conducting approximately 110 meetings and engaging with around 600 analysts and investors in 2024 [23][24] - The proportion of H-shares held by domestic investors through the Hong Kong Stock Connect increased from 7.2% at the end of 2023 to over 27% [24] Group 6: Corporate Social Responsibility - The company adheres to sustainable development principles, receiving multiple awards for its governance and ESG efforts, including recognition in the Hang Seng Sustainable Development Index [26]