Core Viewpoint - Huatai Securities reported that China Merchants Port's revenue for the first half of the year was HKD 6.46 billion, an increase of 11.4% year-on-year, while net profit was HKD 3.58 billion, a decrease of 19.5% year-on-year [1] Group 1: Financial Performance - Revenue for the first half of the year reached HKD 6.46 billion, reflecting an 11.4% year-on-year growth [1] - Net profit for the same period was HKD 3.58 billion, showing a 19.5% year-on-year decline [1] Group 2: Future Outlook - Despite macroeconomic uncertainties, the company is expected to maintain stable performance in its core port operations in the second half of the year [1] - The long-term outlook remains positive due to the company's overseas terminal layout, which is anticipated to benefit from industry restructuring and drive steady growth in overall throughput [1] Group 3: Profit Forecast Adjustments - The profit forecasts for 2025 to 2027 have been revised down by 5%, 4%, and 4% respectively, resulting in projected net profits of HKD 7.3 billion, HKD 7.86 billion, and HKD 8.51 billion [1] - The target price has been adjusted from HKD 15.6 to HKD 17.4, based on a 10x price-to-earnings ratio for the fiscal year 2025, reflecting the company's growth potential from its overseas terminal strategy [1]

招商局港口(00144)跌超3%，截至发稿，跌3.47%，报14.47港元，成交额5729.46万港元。 消息面上，招商局港口发布2025年中期业绩，集团收入64.57亿港元，同比增长11.42%；股东应占溢利 35.84亿港元，同比减少19.5%；中期股息0.25港元。公告指，上半年集团的集装箱业务呈现增长态势， 海外地区港口的集装箱业务整体取得稳步增长。集团港口项目共完成集装箱吞吐量7,485万TEU，同比 增长4.3%。其中，中国内地、香港及台湾港口项目合共完成集装箱吞吐量5,564万TEU，同比增长 4.0%，主要受到珠三角地区、长三角地区的带动。海外地区港口项目共完成集装箱吞吐量1,921万 TEU，同比增长5.0%。 ...

Core Viewpoint - China Merchants Port (00144) experienced a decline of over 3%, with a current price of HKD 14.47 and a trading volume of HKD 57.29 million [1] Financial Performance - The company reported a revenue of HKD 6.457 billion for the first half of 2025, representing a year-on-year increase of 11.42% [1] - Shareholder profit attributable to the company was HKD 3.584 billion, showing a year-on-year decrease of 19.5% [1] - The interim dividend declared is HKD 0.25 per share [1] Business Operations - The container business of the group showed growth, with a total container throughput of 74.85 million TEU, an increase of 4.3% year-on-year [1] - Container throughput from mainland China, Hong Kong, and Taiwan ports reached 55.64 million TEU, up 4.0% year-on-year, driven mainly by the Pearl River Delta and Yangtze River Delta regions [1] - Overseas port projects achieved a container throughput of 19.21 million TEU, reflecting a year-on-year growth of 5.0% [1]

Core Viewpoint - The collaboration between China Merchants Group and Hong Kong University of Science and Technology on perovskite semiconductor research is a significant step towards new industry cultivation and aims to accelerate the industrialization process of this technology [1] Group 1 - China Merchants Group's chairman, Miao Jianmin, led a team to investigate the joint laboratory for perovskite semiconductor development [1] - The project focuses on overcoming technical challenges and product development to ensure that technology and industrial transformation do not lag behind [1] - The goal is to quickly advance the industrialization process and expand market opportunities for the developed products [1]

Core Viewpoint - The company held a board meeting where multiple resolutions were passed, including financial assessments, adjustments to stock option plans, and various governance updates, indicating a proactive approach to corporate governance and financial management [1][2][3][4][5][6][7]. Group 1: Financial Assessments and Approvals - The board approved the risk assessment report for the company's financial subsidiary, indicating a focus on risk management [1]. - A resolution was passed to extend financial assistance to a controlling subsidiary, demonstrating ongoing support for its operations [1]. - The board also approved the internal audit report for the second quarter of 2025, reflecting a commitment to internal controls and transparency [1]. Group 2: Stock Option Plan Adjustments - The company adjusted the exercise price of its stock option incentive plan, reducing the price from 15.50 CNY to 14.76 CNY for the first batch and from 13.25 CNY to 12.51 CNY for the reserved portion, aligning with the recent profit distribution plan [3][4][5]. Group 3: Governance and Compliance Updates - The board approved several governance-related resolutions, including updates to the company's articles of association and various internal management rules, which are essential for maintaining compliance and operational efficiency [9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33][34][35][36][37][38][39][40][41][42][43].

Core Viewpoint - The announcement by China Merchants Port Group regarding the revision of its articles of association aims to establish a solid foundation for the company's future development, pending approval at the 2025 annual general meeting of shareholders [1][17]. Company Overview and Capital Evolution - China Merchants Port Group was established in 1993 with government approval and is listed on the Shenzhen Stock Exchange. The company has undergone multiple capital changes, including stock splits and private placements, resulting in a total share capital of 2,501,508,381 shares and a registered capital of RMB 2,501,508,381 as of June 30, 2025 [2]. Business Objectives and Scope - The company aims to become a world-class comprehensive port service provider, focusing on global port investment, development, and operations. Its business scope includes port terminal construction, management, bonded warehousing for import and export goods, and cargo handling and transshipment [3]. Share Issuance and Custody - The company issues shares in accordance with principles of openness, fairness, and justice, with all issued shares being centrally deposited at the Shenzhen branch of China Securities Depository and Clearing Co., Ltd. [4]. Share Capital Increase and Repurchase - The company can increase its capital through various means, including issuing shares to unspecified or specific objects, distributing bonus shares, or converting reserves into share capital, subject to shareholder approval. It may also reduce registered capital and repurchase shares under strict procedures [5]. Share Transfer Restrictions - There are clear restrictions on the transfer of shares held by directors and senior management to maintain market order and company stability [6]. Shareholder Rights and Obligations - Shareholders enjoy rights such as dividend distribution and participation in shareholder meetings, while also being obligated to comply with laws and the company's articles of association [7]. Controlling Shareholders and Actual Controllers - The controlling shareholders and actual controllers must exercise their rights and fulfill obligations lawfully, avoiding any abuse of control that could harm the company or other shareholders' interests [8]. Shareholder Meeting Authority and Operations - The shareholder meeting serves as the company's authority, responsible for electing directors and approving significant company proposals, with detailed regulations governing the meeting's procedures [9]. Party Committee and Corporate Governance - The company has established a party committee that plays a core leadership role, ensuring the implementation of national policies and participating in major decision-making processes [11]. Board of Directors and Responsibilities - The board consists of twelve directors who are responsible for convening shareholder meetings and executing resolutions. It has specialized committees, including audit and strategy committees, to fulfill specific responsibilities [13]. Senior Management - The company appoints senior management, including a CEO and COO, who must adhere to strict qualifications and responsibilities similar to those of directors [14]. Financial Accounting and Auditing - The company has established a financial accounting system and is required to submit annual and interim reports, with profit distribution policies in place [15]. Internal Audit and Accounting Firm Appointment - An internal audit system is in place to oversee business activities, with the appointment of qualified accounting firms for auditing, subject to shareholder approval [16]. Mergers, Divisions, and Liquidation - The company has clear procedures and regulations for mergers, divisions, capital increases, and reductions, ensuring legal compliance in various operational scenarios [17].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 港口控股有限公司 CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED （根據公司條例於香港註冊成立之有限公司） （股份代號：00144） 自願公告 股東及潛在投資者務請注意，CMPG中報乃按照中國註冊會計師審計準則編製，有 關準則與本公司編製及呈列其財務資料所採納的會計準則有所不同。謹此提醒公眾 投資者不恰當倚賴相關資料可能帶來風險。持有本公司所發行證券的人士及公眾投 資者於買賣本公司證券時務請審慎行事。 代表 招商局港口控股有限公司 主席 馮波鳴 主要股東招商局港口集團股份有限公司 截 至 2025 年 6 月 30 日止六個月的半年度報告 本公告乃由招商局港口控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）自 願作出。 招商局港口集團股份有限公司（「CMPG」）為本公司的主要股東，其A股及B股在深 圳證券交易所上市（股份代號：001872/201872 ...

Core Viewpoint - The "AI + Ocean" industry application scenarios were successfully launched at the 2025 Shenzhen (International) General Artificial Intelligence Conference and Industry Expo, showcasing the integration of artificial intelligence in various marine sectors [1] Group 1: Industry Applications - A total of 60 application scenarios were released, categorized into three main areas: marine business, marine industry, and marine public services [1] - The application scenarios cover various subfields including marine law enforcement, marine economic statistics, deep-sea resource development, port shipping, marine energy, high-end marine equipment, intelligent ships, underwater robots, marine biology, marine ecological early warning, disaster prevention and reduction, and distant-water fisheries [1]

Core Viewpoint - The company reported a mixed performance for the first half of 2025, with an increase in container throughput but a significant decline in profit and cash flow from operations [1] Group 1: Performance Metrics - Container throughput reached 74.85 million TEU, representing a year-on-year increase of 4.3% compared to 71.77 million TEU in 2024 [1] - Profit attributable to equity holders was HKD 3.584 billion, a decrease of 19.5% from HKD 4.452 billion in 2024 [1] - Basic earnings per share were HKD 0.854, down 19.5% from HKD 1.061 in 2024 [1] - Interim dividend per share remained unchanged at HKD 0.25, consistent with 2024 [1] Group 2: Cash Flow and Investments - Net cash inflow from operating activities was HKD 3.539 billion, a decline of 16.7% year-on-year [1] - Cash dividends received from joint ventures and associates amounted to HKD 1.087 billion, down 41.6% compared to the previous year [1] - Capital expenditure for business acquisitions decreased compared to the same period last year, while funds allocated for structured deposits increased year-on-year [1] - Net cash outflow from investing activities rose from HKD 264 million in the previous year to HKD 634 million in the current period [1] - Net cash outflow from financing activities decreased from HKD 59.22 billion in the previous year to HKD 22.43 billion in the current period [1]

招商局港口(00144)发布截至2025年6月30日止6个月中期业绩，集团收入64.57亿港元，同比增长11.42%; 股东应占溢利35.84亿港元，同比减少19.5%;每股盈利0.854港元;中期股息0.25港元。 2025年上半年，集团的集装箱业务呈现增长态势，海外地区港口的集装箱业务整体取得稳步增长。集团 港口项目共完成集装箱吞吐量7,485万TEU，同比增长4.3%。其中，中国内地、香港及台湾港口项目合 共完成集装箱吞吐量5,564万 TEU，同比增长4.0%，主要受到珠三角地区、长三角地区的带动。海外地 区港口项目共完成集装箱吞吐量1,921万TEU，同比增长5.0%。港口散杂货业务吞吐量达 2.63亿吨，同 比下跌4.2%，其中，中国内地港口项目共完成散杂货吞吐量2.58亿吨，同比下跌4.4%。 ...