I. Market News

1. The latest unemployment rate in Hong Kong is 3.1%.

According to the latest labor population statistics released by the Hong Kong Census and Statistics Department (i.e., the provisional figures from September to November 2024), the seasonally adjusted unemployment rate for September to November 2024 is 3.1%, the same as the figures from August to October 2024. The underemployment rate during these two periods also remained unchanged at 1.1%.

Compared to August to October 2024, the unemployment rates (not seasonally adjusted) and underemployment rates in various industries during September to November 2024 varied, but the extent of the fluctuations was generally small.

2. Hong Kong's overall local GDP in Q3 increased by 1.8% year-on-year.

The Hong Kong Census and Statistics Department released preliminary figures on the local GDP for the third quarter of 2024, calculated on a seasonally adjusted basis by economic activity. According to preliminary statistics, the overall local GDP in the third quarter of 2024 increased by 1.8% compared to the same period last year, while the increase in the second quarter of 2024 was 3.2%.

According to the analysis of the service Industry by composition and comparison with the same period last year, the total value added by all service activities effectively increased by 1.9% in the third quarter of 2024, which is similar to the 2.0% increase in the second quarter.

3. Shenzhen Airport set a new record for daily incoming and outgoing flights.

According to the Shenzhen Border Inspection General Station, on December 12, the number of inbound and outbound flights at Shenzhen Airport reached 200, setting a record for the highest number of flights in a single day since the port's opening.

With the continuous expansion of Shenzhen's foreign trade, the airport's international aviation hub function continues to improve, and a series of policies to facilitate the flow of people have been introduced, leading to strong demand for inbound and outbound travelers for tourism, visiting relatives and friends, and business visits. This year, the number of international and regional flights at Shenzhen Airport has rapidly increased, exceeding 0.051 million flights, a year-on-year increase of 62%.

4. This year, the number of inbound and outbound travelers at Luo Hu Port exceeded 60 million, a year-on-year increase of 43%.

After the implementation of the "one visa multiple entries" policy for tourism to Hong Kong in Shenzhen for two weeks, the inbound and outbound traffic at Shenzhen Port has gained more heat. According to the Shenzhen Border Inspection General Station, from December 1 to 15, more than 0.01 million Shenzhen residents traveled in and out through Luo Hu Port under the "one visa multiple entries" policy. So far this year, the number of inbound and outbound travelers at this port has surpassed 60 million, a 43% increase compared to the same period last year, ranking first among all ports in Shenzhen.

2. Company News

1. China Coal Energy (01898) announced a commodity coal production of 12.06 million tons in November 2024, a year-on-year increase of 8.2%, and a commodity coal sales volume of 25.8 million tons, a year-on-year increase of 11.4%. For the first 11 months, the group's cumulative commodity coal production was approximately 0.126 billion tons, a year-on-year increase of 1.9%, and commodity coal sales were approximately 0.256 billion tons, a year-on-year decrease of 1.9%.

2. MIFUST (02556) announced a proposed placement of up to 1 million new shares, equivalent to 0.42% of the enlarged share capital, with a placement price of HKD 110 per share, a 0.45% discount to yesterday's closing price of HKD 110.5, raising HKD 0.11 billion with a net amount of HKD 0.1095 billion, for the research and development of AI large model technology in marketing and sales, including training the Tforce marketing large model, building intelligent agency platforms, and commercializing intelligent agents in various scenarios; as well as working capital and general corporate purposes.

3. CHINAHONGQIAO (01378) issued a profit warning, expecting that for the year ending December 31, 2024, net income will increase by approximately 95% compared to the same period last year, mainly due to the rise in sales prices of the group's aluminum alloy products and alumina products compared to the same period in 2023, and the sales volume of alumina products has also increased; at the same time, the procurement prices of the group's main raw materials, coal and anode carbon blocks, have decreased compared to 2023. Benefiting from these positive factors, the group's gross profit of these products has significantly increased compared to 2023.

4. CHINA RISUN GP (01907) announced plans to issue no more than 52 million shares on a pre-existing basis, equivalent to an increase of 1.17% in the expanded share capital, with a price of 3 yuan per share, a discount of 12.02% compared to yesterday's closing price of 3.41 yuan. The total amount raised will be 0.156 billion yuan, with a net amount of 0.1536 billion yuan. Approximately 50% will be used to optimize the financial structure (including repaying bank loans and leasing liabilities), and about 50% will be used for general working capital.

5. TIANJIN CAPITAL (01065) announced that the group has entered into an asset transfer agreement with the ultimate parent company Tianjin Urban Investment. The company will acquire assets from the Zhangguizhuang recycled water plant project at a cost of 0.218 billion yuan.