Hong Kong-Zhuhai-Macao Bridge Passenger and Vehicle Flow Data Verification and Investment Research Execution Plan Confirmation

Before proceeding with in-depth investment research, I need to confirm key facts and execution paths with you:

Explanation regarding the data you provided

• I currently cannot directly retrieve confirmable authoritative sources to verify the key data you cited for the 2025 Hong Kong-Zhuhai-Macao Bridge: “passenger flow exceeding 31.34 million person-times, vehicle flow exceeding 6.8 million vehicle-times, year-on-year growth of 14.3% and 22.3%, maximum daily passenger flow of 170,000 person-times, maximum daily vehicle flow of 28,000 vehicle-times”. Therefore, the following analysis will not temporarily treat this set of data as verified facts.

Obtained public background (does not constitute verification of the above data)

• Since the opening of the Hong Kong-Zhuhai-Macao Bridge, traffic convenience and policies such as “Macao vehicles going north” and “Hong Kong vehicles going north” have continued to improve. The overall traffic volume and cross-border exchanges have shown an upward trend, and the market expects long-term positive impacts on the connectivity of the Greater Bay Area.
• In 2025, some media and institutions mentioned reports related to the recovery of cross-border transportation and tourism in the Greater Bay Area (e.g., Reuters reports on Hong Kong’s economic and market performance, the overall trend of infrastructure connectivity and cultural tourism recovery in the Greater Bay Area) [1,2].

To facilitate your decision-making, I provide optional execution plans:

• Plan A (Recommended): Please provide cross-verifiable authoritative sources (e.g., announcements from the Hong Kong-Zhuhai-Macao Bridge Authority, transportation departments of the three regions, or links to mainstream media). Based on the verified data, I will immediately carry out:
  • Industrial chain impact assessment (sub-sectors such as infrastructure operation, ports/parks, transportation and logistics, cultural tourism and retail, local travel and consumption, TOD and comprehensive development)
  • Target screening and financial comparison (samples of infrastructure, logistics, cultural tourism-related companies in Hong Kong/Greater Bay Area, examples: 0700.HK Tencent (spillover effect of technology and data operation), 0823.HK Link REIT (retail and port-related properties), 1093.HK CSP (port and supply chain), 2030.HK Cabbeen (consumer goods channels), 1798.HK Modern Dental (medical service consumption), 1800.HK Cheong Lee Holdings (transportation-related), etc.)
  • Generate comparison charts (revenue, profit, valuation, capital flow and transactions, etc.)
  • Provide investment value assessment and risk reminders based on scenario assumptions (short-term event-driven vs. long-term fundamental verification; policy and macroeconomic sensitivity; valuation repair space and repricing rhythm; cross-border capital flow and liquidity impact; risk exposure and hedging suggestions)
• Plan B (Scenario Deduction): If you authorize, I can directly conduct a quick impact analysis based on the premise of “if the data you provided is valid”, mark it as “unverified”, and conduct comparison and visualization with representative sample companies (it is recommended to start with a limited sample and then expand to the entire industry as needed).
• Plan C (Historical Benchmarking): If the current data cannot be verified, I can first use historically public data (e.g., phased data disclosed by the Bridge Authority/media in recent years) to review the impact of historical events, provide a reference framework for future events, and update the conclusion after the data is verified.

Please inform me:

1. Are there any authoritative links or announcement sources that can be shared?
2. Choose one of Plan A/B/C, or hope I prepare two materials A and B in parallel?
3. Specific sub-directions to focus on (e.g., only infrastructure and logistics; or infrastructure + cultural tourism + local consumption; or add data and technology empowerment/cross-border finance, etc.)

After your confirmation, I will produce a systematic investment research report including data sources, comparison charts, valuation and risk reminders based on verifiable data and your designated plan.

Background References

• Hong Kong stock market and macroeconomic background: The Financial Secretary of Hong Kong raised the 2025 economic growth forecast to about 3.2%, emphasizing Hong Kong as a financial, innovation and trade center; the Hang Seng Index performed strongly in 2025 (Reuters, WSJ) [1,2].
• Public reports and market expectations about the Hong Kong-Zhuhai-Macao Bridge: In recent years, media and industry analysts have generally emphasized the long-term benefits of the bridge for the connectivity of the Greater Bay Area and related industries, but the official figures of specific annual/monthly “passenger/vehicle flow and year-on-year growth rate” shall be subject to the latest announcement.

References

• [1] Reuters - Hong Kong expects 3.2% growth this year, seeks to maintain momentum (2025-12-28), https://www.reuters.com/world/asia-pacific/hong-kong-expects-32-growth-this-year-seeks-maintain-momentum-2025-12-28/
• [2] Wall Street Journal - Hong Kong Stocks Log Best Year Since 2017 as AI Boom Fuels Tech Rally (2025 Annual Review), https://www.wsj.com/finance/stocks/hong-kong-stocks-log-best-year-since-2017-as-ai-boom-fuels-tech-rally-d4bfdf87

If needed, I can first make a one-page structured overview of the logical chain of “how bridge traffic growth transmits to three major sectors”, and strengthen the quantitative and target dimensions after the data is confirmed. Please inform me of your preferences and the form of deliverables needed (report/chart summary/teleconference key points, etc.).