Zhitong Hong Kong stocks have long known | China Shenhua (01088) implements 100 billion asset restructuring, COMEX silver futures break record high

[Today's headlines]

China Shenhua (01088) implements 100 billion asset restructuring

According to Zhitong Finance App News, China Shenhua recently released a major asset restructuring report, announcing that it plans to acquire shares in 12 core enterprises under the controlling shareholder National Energy Group by issuing shares and paying cash. The total transaction consideration reached 133,598 billion yuan, and supporting capital raised was progressing simultaneously. At the same time, the company plans to issue A-shares to no more than 35 specific investors to raise no more than 20 billion yuan in supporting capital.

According to reports, this restructuring covers key energy sectors such as coal production, Kengkou coal and electricity, coal chemicals, and coal logistics. After the transaction is completed, China's Shenhua's total assets will increase by more than 200 billion yuan. Core indicators such as recoverable coal reserves, annual output, and installed power generation capacity have all been greatly increased. Among them, polyolefin production increased by 213.33%.

It is worth noting that the transaction was paid in cash at a high percentage of 70%, effectively reducing the equity dilution effect. After the restructuring, the company's profitability will be further enhanced. In addition, the controlling shareholders will voluntarily extend the performance commitment period for some assets to six years, demonstrating the protection of the interests of small and medium shareholders.

China's Shenhua said that this restructuring is not only a key step for the National Energy Group to deepen the pilot reform of state-owned capital investment companies, but also a vivid practice of speeding up transformation and upgrading and increasing industrial concentration in the coal industry. Guided by global energy pattern adjustments and “dual carbon” goals, China's Shenhua has achieved optimal allocation of resources through capital market operations, which is expected to drive more state-owned central enterprises to activate development momentum through specialized integration.

[General outlook]

COMEX silver futures break record high

Overnight, the US stock Dow Jones Industrial Average rose 183.04 points to close at 48134.89 points, or 0.38%, with a cumulative decrease of 0.67% last week; the S&P 500 stock index rose 59.74 points to close at 6834.5 points, or 0.88%, a cumulative increase of 0.10% last week; the Nasdaq Composite Index rose 301.26 points, to close at 23307.62 points, or 0.48% last week.

Major technology stocks generally rose; Oracle rose more than 6%, Nvidia rose nearly 4%, Broadcom rose more than 3%, and Google rose more than 1%. Commercial space concept stocks surged, with Rocket Lab Corp up 17.69%, AST SpaceMobile Inc-A up 15.03%, and Virgin Galactic 6.71%. Crypto mining companies, semiconductors, metals and mining registered the highest gains, with US gold companies rising more than 11%.

Most popular Chinese securities rose; Xiaopeng Motor rose more than 6%, Ideal Auto rose more than 5%, and Pinduoduo rose more than 3%. The Hang Seng Index ADR rose. On a proportional basis, it closed at 25727.10 points, up 36.57 or 0.14% from the Hong Kong closing. COMEX silver futures closed up 3.34% to $67.395 per ounce, setting a new record high.

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AI's surge in electricity use hits the grid! US energy regulators order PJM to establish data center grid-connection rules

The US energy regulator on Thursday directed PJM Interconnection, the nation's largest power grid operator, to establish grid-connection rules for artificial intelligence (AI) data centers adjacent to power plants and other large power loads. Analysts pointed out that this move will benefit existing natural gas power plants and nuclear power plants.

The subsidiary of the Sichuan Cheng-Chongqing Expressway (00107) plans to acquire 85% of Hubei Jingyi Expressway Co., Ltd.'s shares for 2,409 billion yuan

According to Zhitong Finance App, the Sichuan Cheng-Chongqing Expressway (00107) issued an announcement. On December 19, 2025, Shunan Company, a direct wholly-owned subsidiary of the company, signed an equity transfer agreement with Shudao Venture Capital. Based on this, Shunan Company conditionally agreed to purchase 85% of the shares of the target company (Hubei Jingyi Expressway Co., Ltd.) at a cost of RMB 2,409 billion. The main business of the target company is investment, construction, operation and management of the Jingyi Expressway.

Chongqing Iron & Steel Co., Ltd. (01053) plans to invest and issue 1 billion yuan of shares to Huabao

Zhitong Finance App News, Chongqing Iron & Steel Co., Ltd. (01053) issued an announcement. The company held the 22nd meeting of the 10th board of directors on December 19, 2025 to deliberate and pass the bill relating to the issuance of A-shares by the company to specific targets in 2025. The company signed the “Share Subscription Agreement between Chongqing Iron and Steel Co., Ltd. and Huabao Investment Co., Ltd.” on December 19, 2025, and Huabao Investment Co., Ltd. and Huabao Investment Co., Ltd. plans to subscribe for the shares issued by the company in cash.

Qingdao Port (06198) plans to invest 6.615 billion yuan to build the Dongjiakou General Terminal Project

According to the Zhitong Finance App, Qingdao Port (06198) announced that in order to enhance the port's cargo transit capacity, optimize production layout, meet port operation needs, and the national service guarantee strategy, the company plans to invest in the construction of the Dongjiakou General Terminal Project. The estimated project investment is about RMB 6.615 billion.

Qingdao Port (06198) announced that in order to accelerate the development and construction of the Dongjiakou port area, continuously improve the operating capacity of the container terminal, and ensure the construction of the Qingdao Port international container hub port, the company plans to invest in the first phase of the Dongjiakou Container Terminal project. The estimated investment of the project is approximately RMB 9.097 billion.

A subsidiary of Gacos-B (01167) entered into a licensing and cooperation agreement with AstraZeneca to develop and commercialize the pan-KRAS inhibitor JAB-23E73

According to the Zhitong Finance App, Gacos-B (01167) announced that Beijing Gacos New Drug Development Co., Ltd., a non-wholly-owned subsidiary of the group, and AstraZeneca AB (AstraZeneca) have signed a licensing and cooperation agreement to develop and commercialize the pan-KRAS inhibitor JAB-23E73. Under the license and cooperation agreement and subject to its terms and conditions, Beijing Gacos is entitled to receive a down payment of $100 million from AstraZeneca and is eligible for additional milestone payments of up to US$1.915 billion in total consideration after reaching certain development, regulatory and commercial milestones. Furthermore, after the successful commercialization of the licensed products, Beijing Gacos will be entitled to tiered royalties calculated based on the net sales of the licensed products.

MiniMax passed the Hong Kong Stock Exchange hearing

On December 21, the general artificial intelligence company MiniMax first published its post-hearing data collection version of the prospectus, which is expected to set a new record and become the AI company that took the shortest time from establishment to IPO.

[Individual stock prices are clear]

Yuanda Pharmaceutical (00512): Innovative radionuclide conjugation drug TLx591-cdx China successfully reached the main clinical end point in China's phase III clinical study for diagnosing prostate cancer

Zhitong Finance App News, Yuanda Pharmaceutical (00512) announced that the Group's innovative radionuclide conjugate drug (RDC) TLx591-cdx (Illuccix®, gallium Ga 68 PSMA-11) conducted in China recently achieved positive top-line results and successfully reached major clinical endpoints. Furthermore, the Group's RDC product TLX591 for treating prostate cancer has been approved in China to join the international multi-center phase III clinical study. In the future, the two product combinations are poised to be launched, which is expected to bring more accurate and efficient diagnosis and treatment plans to Chinese prostate cancer patients.

At present, Yuanda Pharmaceutical has approved six innovative RDCs to carry out registered clinical studies. Of these, four have entered phase III clinical stage, and the company has entered the harvest period for innovative nuclear drug products.