Group 1 - The core point of the news is that southbound funds increased their holdings in Beijing Holdings (00392.HK) by 4,000 shares on September 24, 2025, while there were net reductions in holdings on 9 out of the last 20 trading days, totaling a net reduction of 1.8335 million shares [1][2] - As of now, southbound funds hold 258 million shares of Beijing Holdings, which accounts for 20.5% of the company's total issued ordinary shares [1][2] - In the last 5 trading days, there were 2 days of net reductions totaling 38,500 shares [1][2] Group 2 - Beijing Holdings Limited primarily engages in gas business through five segments, including the distribution and sale of pipeline natural gas and related equipment, as well as the production and sale of oil and gas [2] - The water business segment constructs sewage and drinking water treatment plants and other infrastructure, providing water supply and consulting services [2] - The environmental business segment offers waste incineration plant construction and waste treatment services, selling electricity, steam, and heat generated from waste incineration [2] - The beer business segment is involved in the production, distribution, and sale of beer products [2] - Other business segments provide consulting services, engage in property investment, and manage corporate income and expenditure projects [2]