Core Viewpoint - The Panama government has forcibly taken control of two ports operated by Cheung Kong, leading to significant operational disruptions and potential long-term implications for trade routes and investments in the region [1][2]. Group 1: Company Impact - Cheung Kong's operations at the Balboa and Cristobal ports have been halted, with the government seizing assets and employees, which the company strongly opposes [2]. - The loss of control over these ports signifies a broader risk for all vessels passing through Panama, potentially impacting trade with South America if tensions escalate [3]. Group 2: Industry Context - The recent actions in Panama reflect a shift in global order, as highlighted by Ray Dalio, indicating a return to a "jungle law" environment where traditional international norms are eroding [3]. - Dalio's analysis suggests that the current geopolitical climate is reminiscent of pre-World War II conditions, where economic and capital wars precede actual military conflicts [3]. - The implications of asset freezes, market access restrictions, and embargoes are critical for companies operating internationally, as these tactics can severely disrupt business operations [4][5][6]. Group 3: Investment Strategy - Investors are advised to be cautious with debt assets during periods of conflict, as governments may resort to printing money, leading to currency devaluation [6]. - Gold is recommended as a stable store of wealth, as it is not reliant on any country's credit, making it a safer investment during turbulent times [6].

海事服务网CNSS获悉，巴拿马政府周一（2月23日）通过官方公报正式公布最高法院裁决，宣告授予长江和记实业有限公司子公司巴拿马港口公司 （PPC）的经营合同违宪而无效。此举标志着1月30日所作出的裁决成为具有法律约束力的最终判决。 截图自巴拿马政府官网 截图自长江和记实业有限公司官网 在巴拿马的法律体系中，其最高法院的此类裁决通常是终审判决，具有最终法律效力。该裁决意味着长江和记实业有限公司（以下简称"长和"）运营超过 二十年的巴尔博亚港与克里斯托瓦尔港（分别位于巴拿马运河两端）的特许经营权被正式撤销。 根据1月30日的裁决及随后的第23号行政令，巴拿马海事局（AMP）已对这两个战略港口实施实质性接管，包括其起重机、车辆及软件系统等所有动产， 以保障港口运营的连续性。 图源：路透社 据负责监督过渡进程的技术团队负责人Alberto Aleman Zubieta介绍，巴拿马海事局正在审议两份独立的运营合同，分别为巴尔博亚港和克里斯托瓦尔港制 定，以取代过去将两港合并在同一合同下的管理模式。 目前，巴拿马海事局已签署为期最长18个月的临时合同，过渡期内，巴尔博亚港暂由马士基（Maersk）旗下的APM码头公司运营 ...

Core Viewpoint - The Hong Kong government strongly condemns Panama's forceful takeover of two ports operated by a Hong Kong company, emphasizing the violation of contractual spirit and the need for fair treatment of Hong Kong enterprises abroad [1] Group 1: Government Response - The Hong Kong government, through its Secretary for Commerce and Economic Development, has lodged a formal protest with the Panamanian government regarding the takeover [1] - The government expresses strong dissatisfaction and opposition to Panama's actions, which include the revocation of operating rights and the disruption of contractual agreements [1] - A spokesperson reiterated that the Panamanian Supreme Court's earlier ruling against the company's operations is unfounded and betrays trust [1] Group 2: Impact on Hong Kong Enterprises - The Hong Kong government emphasizes its commitment to support and protect the legitimate rights of Hong Kong businesses operating overseas [1] - The affected company has initiated arbitration procedures in response to the takeover, which is seen as a serious infringement on the rights of Hong Kong enterprises [1] - The spokesperson highlighted that the company has made significant investments and created numerous jobs in Panama, and the government's actions undermine the country's credibility and violate international trade rules [1]

Core Viewpoint - The Hong Kong government strongly protests against the Panama government's forceful takeover of two ports operated by Hutchison Port Holdings, emphasizing the violation of contractual spirit and the protection of Hong Kong enterprises' rights abroad [2][4]. Group 1: Government Response - The Hong Kong government expresses strong dissatisfaction and opposition to the Panama government's actions, which include the revocation of operating rights and the forceful takeover of the ports, asserting that these actions severely damage the legitimate rights of Hong Kong enterprises [2]. - The government reiterates that the Panama Supreme Court's earlier ruling regarding the ports' operations being unconstitutional disregards facts and is a breach of trust [2]. - The Hong Kong government urges the Panama government to respect contractual agreements and provide a fair business environment for legally operating enterprises [4]. Group 2: Company Position - Hutchison Port Holdings, a subsidiary of Cheung Kong Holdings, reports that on February 23, 2026, the Panama government forcibly entered and took control of the Balboa and Cristobal ports, prohibiting the company's representatives from accessing these facilities [5][6]. - The company asserts that the Panama government's actions, including the revocation of its operating rights and the forceful takeover, are illegal and pose serious risks to the operations, health, and safety of the ports [6]. - The company emphasizes that the Panama government did not inform or consult with them prior to these actions and must bear responsibility for any damages incurred as a result [6]. Group 3: Market Reaction - Following the announcement of the Panama government's actions, the stock price of Cheung Kong Holdings continued to decline [7].

2月24日，李嘉诚旗下长和在官网发布公告称，长江和记反对巴拿马政府强行接管巴拿马港口公司之资产、员工与运营，巴拿马港口公司被迫终止巴尔博亚 港和克里斯托瓦尔港之集装箱码头运。 长江和记重申，该裁决、巴拿马总统颁布的行政法令、撤销巴拿马港口公司之特许经营权，以及强行接管两个集装箱码头，属不合法。巴拿马政府此等行 动，亦对巴尔博亚港和克里斯托瓦尔港两个集装箱码头的运营、卫生与安全构成严重风险。巴拿马政府此前并无就有关行动知会巴拿马港口公司，亦无与巴 拿马港口公司协商。巴拿马政府须就其所采取的强行没收行动而引致之一切损害及损失承担责任。 巴拿马港口公司与长江和记将继续就该裁决及强行接管港口的行动，以及巴拿马港口公司的特许经营权被迫终止之事宜咨询法律顾问意见，研究所有可行途 径，包括对巴拿马共和国及其代理人，以及与其实施串通的第三方诉诸进一步的国内及国际法律程序，并就此事宜保留一切对相关方追究之权利。 24日上午，长和股价跳水，截至中午休市跌近2%，总市值2415亿港元。 | 大柏[00001]港版头町付宿・日長放中過 | | | | | | | | | --- | --- | --- | --- | --- | - ...

据新华社报道，针对巴拿马政府强行接管香港长江和记集团营运的两个港口，外交部发言人毛宁24日在 例行记者会上答问时表示，中方在巴拿马有关港口问题上的立场是明确的。"我相信你也注意到有关企 业已经发表了声明，表示将保留包括诉诸法律程序在内的一切权利。中方将坚决维护企业的正当合法权 益。" ...

Market Performance - The Hong Kong stock market saw a decline, with the Hang Seng Index dropping by 1.82% to 26,590.32 points, the Hang Seng Tech Index falling by 2.13% to 5,270.7 points, and the National Enterprises Index decreasing by 2.06% to 9,007.86 points [1] - Notable declines were observed in major tech stocks, including Alibaba (-2.76%), Tencent (-3.35%), and Meituan (-4.24%) [1] Company News - CK Hutchison Holdings expressed opposition to the Panamanian government's forceful takeover of the Panama Ports Company's assets, employees, and operations, which has led to the cessation of operations at Balboa and Cristobal ports [2] - The company plans to explore all possible legal avenues against the Panamanian government and related parties due to the illegality of the government's actions [2] Industry Insights - China Galaxy Securities highlighted that the technology sector remains a long-term investment focus, with expectations of a rebound following recent corrections, driven by advancements in AI models and applications [2] - The firm also noted that the consumer sector is positioned for potential growth as consumer policies increase, while geopolitical risks and U.S. tariff adjustments may benefit precious metals and energy sectors [2]

特区政府强调，相关公司多年来在当地投入巨额投资和创造大量职位，有关裁决及巴拿马政府的无理行为自毁国家信用， 严重破坏国际贸易规则。 据央视新闻，2月24日，外交部发言人毛宁主持例行记者会。有记者就巴拿马有关港口问题提问。 毛宁表示，中方在巴拿马有关港口问题上的立场是明确的。"我相信你也注意到有关企业已经发表了声明，表示将保留包括 诉诸法律程序在内的一切权利。中方将坚决维护企业的正当合法权益。" 2月24日，据香港特区新闻公报，香港特区商务及经济发展局局长丘应桦向巴拿马驻港总领事提出严正抗议。 香港特区政府对巴拿马政府昨日强行接管和记港口巴拿马港口公司经营的两个巴拿马港口并撤销经营权、破坏合约精神， 表达强烈不满和反对，并强调会坚定支持和维护香港企业在海外的合法权益。 特区政府重申，巴拿马最高法院早前裁定该公司经营的两个巴拿马港口违宪一事，完全是罔顾事实、背信弃义。相关公司 已提出并启动仲裁程序，但巴拿马政府昨日强行接管两个港口，严重损害香港企业的合法权益和违反合约精神。特区政府 对此粗暴行径予以谴责。 特区政府再次敦促巴拿马政府尊重合约精神，为当地依法营运的企业提供公平、公正的营商环境，确保企业的合法权益不 ...

Group 1 - The Hong Kong government expressed strong dissatisfaction and opposition to the Panama government's forceful takeover of two ports operated by Hutchison Port Holdings, emphasizing the violation of contractual spirit and the protection of Hong Kong enterprises' rights abroad [1] - The Hong Kong government reiterated that the Panama Supreme Court's ruling regarding the constitutionality of the ports' operation was unfounded and a breach of trust, and that arbitration procedures have been initiated by the affected companies [1] - The Hong Kong government urged the Panama government to respect contractual agreements and provide a fair business environment for legally operating enterprises, highlighting the significant investments and job creation by Hong Kong companies in Panama [1] Group 2 - CK Hutchison Holdings announced that on February 23, 2026, the Panama government forcibly entered and took control of the Balboa and Cristobal ports, prohibiting representatives of the Panama Port Company from entering these facilities [4] - CK Hutchison reiterated that the actions taken by the Panama government, including the revocation of the Panama Port Company's operating rights, are illegal and pose serious risks to the operations, health, and safety of the ports [4] - Following the announcement, CK Hutchison's stock price fell by 2.65%, reflecting market reaction to the developments [4]

来源：中国新闻网 中国外交部发言人毛宁24日主持例行记者会。 针对巴拿马政府强行接管香港长江和记集团营运的两个港口，毛宁在答问时表示，中方在巴拿马有关港 口问题上的立场是明确的。 "我相信你也注意到有关企业已经发表了声明，表示将保留包括诉诸法律程序在内的一切权利。中方将 坚决维护企业的正当合法权益。"毛宁说。 （文章来源：中国基金报） ...