Core Viewpoint - Hisense Electric has announced a subscription to a trust financial product amounting to RMB 1.739 billion, continuing its trend of significant investments in trust products, which highlights its strategy to utilize idle funds effectively [1][3]. Group 1: Hisense Electric's Investment Activities - Hisense Electric has made 13 announcements regarding financial product subscriptions this year, totaling RMB 27.207 billion, with trust products accounting for 61.5% of this amount, exceeding RMB 16 billion [3]. - The company has shown a preference for trust financial products, engaging with five different trust companies, including Jingu Trust and Huaneng Trust [3]. Group 2: Industry Trends in Trust Financial Products - As of October 16, 2025, 41 listed companies have participated in trust financial products, with total subscriptions exceeding RMB 18 billion, indicating a growing trend among manufacturing firms [4]. - Notably, companies in the manufacturing sector, such as Shagang Group and Fangda Special Steel, have also engaged in trust investments, reflecting a broader industry trend towards stable income products [4]. Group 3: Reasons for Trust Financial Product Adoption - Companies are increasingly opting for trust financial products due to their flexibility, stable returns, and manageable risks, with a significant portion of trust funds being directed towards the securities market [7]. - Hisense Electric and other companies have stated that using idle funds for trust investments will not negatively impact their core operations and will enhance the efficiency of capital utilization [8].

Core Viewpoint - Hisense Home Appliances (000921) announced a financial agreement to invest in a trust product, indicating a strategic move to enhance its financial management and investment portfolio [1] Group 1: Financial Agreement - The company and its subsidiaries, including the air conditioning marketing company, Guloni Company, and refrigerator marketing company, have entered into a financial agreement with Jingu Trust [1] - The total subscription amount for the trust product is RMB 1.739 billion [1] - The investment period for this agreement is set from May 27, 2025, to October 13, 2025 [1]

Company News - Yuanshan Group (00551.HK) reported a cumulative operating income of approximately $6.017 billion for the first nine months, a decrease of 1% year-on-year [2] - Baoshan International (03813.HK) recorded a cumulative operating income of 12.903 billion yuan for the first nine months, down 7.7% year-on-year [2] - Longyuan Power (00916.HK) achieved a cumulative power generation of 56,546,706 MWh in the first nine months, a decline of 0.53% year-on-year; excluding the impact of thermal power, there was a year-on-year increase of 13.81%, with wind power up 5.30% and solar power up 77.98% [2] Financial Performance - Qinhuangdao Port Co., Ltd. (03369.HK) reported a total throughput of 317 million tons for the first nine months, an increase of 5.56% year-on-year [3] - New China Life Insurance (01336.HK) expects net profit attributable to shareholders for the first three quarters to be between 29.986 billion yuan and 34.122 billion yuan, representing a year-on-year growth of 45% to 65% [3] - Jiangshan Holdings (00295.HK) reported a total power generation of approximately 238,787 MWh for the first nine months, a decrease of 4.83% year-on-year [3] - Morning News Technology (02000.HK) reported an unaudited revenue of 270 million HKD for the first nine months, down 7.6% year-on-year [3] - Dekang Agriculture and Animal Husbandry (02419.HK) sold approximately 7.5509 million pigs in the first nine months, with sales revenue of approximately 14.277 billion yuan [3] Drug Approvals and Developments - Hengrui Medicine (01276.HK) received a clinical trial approval notice for SHR-A2102, a targeted Nectin-4 antibody-drug conjugate (ADC) developed in-house; global sales for similar products are expected to reach approximately $1.949 billion in 2024 according to EvaluatePharma [3] - Hutchison China MediTech (00013.HK) plans to announce FRUSICA-2 registration study data at the 2025 European Society for Medical Oncology annual meeting [3] - CSPC Pharmaceutical Group (01093.HK) had its new drug application for Idaglutide α injection accepted by the National Medical Products Administration [3] Corporate Actions - Huazhen Medical (01931.HK) announced the acquisition of U.S. properties and the establishment of a U.S. subsidiary, ETHK BANK, to promote stablecoins and intellectual property securitization in the U.S. [3] - Lihigh Holdings (08472.HK) plans to invest 24 million HKD in cryptocurrency and commodities [3] - Hisense Home Appliances (00921.HK) and its subsidiaries subscribed to a financial product from Jingu Trust worth 1.739 billion HKD [3] Real Estate Performance - New Town Development (01030.HK) reported cumulative contract sales of 15.050 billion yuan for the first nine months, a decrease of 52.72% year-on-year [3] - Longfor Group (00960.HK) achieved total contract sales of 50.75 billion yuan in the first nine months [3] - CIFI Holdings Group (00884.HK) reported cumulative contract sales of approximately 13.06 billion yuan for the first nine months [3] - Ronshine China Holdings (03301.HK) reported contract sales of 3 billion yuan for the first nine months, down 45.3% year-on-year [3] - Yuzhou Group (01628.HK) reported cumulative sales of 4.913 billion yuan for the first nine months [3] - Yida China (03639.HK) reported contract sales of approximately 572 million yuan for the first nine months, down 24.74% year-on-year [3] Financing and Buyback Activities - Geely Automobile (00175.HK) was approved to issue debt financing instruments totaling no more than 10 billion yuan [3] - HSBC Holdings (00005.HK) repurchased 1.58 million HKD worth of shares at prices ranging from 102.2 to 103.77 HKD [3] - Xiaomi Group-W (01810.HK) repurchased 400 million HKD worth of shares at prices ranging from 47.82 to 50.55 HKD [3] - Shoucheng Holdings (00697.HK) repurchased 890 million HKD worth of shares at prices ranging from 2.21 to 2.27 HKD [3]

Group 1 - The core viewpoint of the article highlights that Jingu Trust is gaining increasing trust from institutional investors due to its robust operational strategy and excellent performance [2][5] - Hisense Home Appliances has entered into a financial agreement with Jingu Trust to subscribe to financial products amounting to RMB 1.739 billion, reflecting effective management of idle funds and market recognition of Jingu Trust's products [2][4] - Jingu Trust has shown continuous improvement in operational performance, with a reported revenue of RMB 1.442 billion and a net profit of RMB 559 million in 2024, achieving a return on equity (ROE) of 11.39% [4] Group 2 - In the first half of 2025, Jingu Trust achieved a total profit of RMB 602 million, ranking in the top 10 among 52 trust companies, with a net profit of RMB 450 million, successfully meeting its growth targets [4][5] - As of June 30, 2024, Jingu Trust managed assets totaling RMB 322.9 billion, a 74% increase from the beginning of the year, and wealth sales reached RMB 63.7 billion, a significant year-on-year increase of 142% [4] - Hisense Home Appliances has been actively investing in trust products, with subscriptions increasing from RMB 6.8 billion in 2023 to RMB 11.1 billion in 2024, and surpassing RMB 11 billion in 2025 [4][5]

Core Viewpoint - Hisense Home Appliances (00921.HK) has announced a disclosure transaction involving multiple financial agreements with Jingu Trust, with a total subscription amount of 1.739 billion RMB for trust financial products [1] Group 1: Transaction Details - Hisense Home Appliances Group and its subsidiaries will subscribe to Jingu Trust financial products between May 27, 2025, and October 13, 2025 [1] - The total subscription amount for these agreements is 1.739 billion RMB [1] - Each agreement is categorized as fixed-income, medium-low risk financial products, with investment scope including deposits and bonds [1] Group 2: Regulatory Compliance - The combined subscription amount exceeds 5% but is below 25%, thus constituting a disclosure transaction under the listing rules [1] - The company is required to comply with the reporting and announcement regulations as per the listing rules [1] Group 3: Impact on Company Operations - The subscription of Jingu Trust financial products is expected to enhance the efficiency of the company's idle funds [1] - It will not adversely affect the company's daily operations, main business development, or the rights of small and medium investors [1] - The board believes that the subscription is fair and reasonable, aligning with the overall interests of the company and its shareholders [1]

智通财经APP讯，海信家电(00921)发布公告，于2025年5月27日至2025年10月13日期间，公司及公司的 附属公司空调营销公司、古洛尼公司及冰箱营销公司(作为认购方)订立金谷信托理财协议，以认购金谷 信托理财产品，认购金额为人民币17.39亿元。 ...