Group 1 - Hong Kong port transportation stocks experienced a rally in the afternoon session [1] - China COSCO Shipping Holdings (01919.HK) rose over 4% [1] - Orient Overseas International (00316.HK) increased by more than 3% [1] - Pacific Shipping (02343.HK) and China National Foreign Trade Transportation Group (00598.HK) also saw gains [1]

Group 1 - The Invesco Great Wall Hong Kong Stock Connect Dividend Low Volatility ETF (159569) closed down 0.68% on July 15, with a trading volume of 62.97 million yuan [1] - The fund was established on August 14, 2024, with an annual management fee of 0.50% and a custody fee of 0.08% [1] - As of July 14, 2024, the fund had 157 million shares and a total size of 207 million yuan, showing a 38.89% increase in shares and a 59.71% increase in size year-to-date [1] Group 2 - The current fund managers are Zhang Xiaonan and Gong Lili, with returns of 35.38% and 34.17% respectively since their management began [2] - The latest report indicates that the top holdings of the fund include Orient Overseas International, Seaspan Corporation, Yanzhou Coal Mining Company, Swire Properties B, CNOOC, China Hongqiao Group, Minsheng Bank, Yuehai Investment, CITIC Bank, and Far East Horizon [2] Group 3 - The top holdings and their respective weightings are as follows: - Orient Overseas International: 10.26% - Seaspan Corporation: 5.70% - Yanzhou Coal Mining Company: 3.95% - Swire Properties B: 3.88% - CNOOC: 3.78% - China Hongqiao Group: 3.76% - Minsheng Bank: 3.53% - Yuehai Investment: 3.29% - CITIC Bank: 3.28% - Far East Horizon: 3.27% [3]

Group 1: Trade Performance - In the first half of the year, China's total goods trade value reached 21.79 trillion yuan, a year-on-year increase of 2.9%, with exports at 13 trillion yuan (up 7.2%) and imports at 8.79 trillion yuan (down 2.7%) [1] - In June, the trade scale reached 3.85 trillion yuan, a year-on-year increase of 5.2%, with exports at 2.34 trillion yuan (up 7.2%) and imports at 1.51 trillion yuan (up 2.3%) [1] Group 2: Shipping Market Response - The strong resilience and vitality of China's foreign trade have translated into increased demand in the shipping market, leading to significant gains in the Hong Kong shipping and port sectors since April [1] - Notable stock price increases from April lows to recent highs include China COSCO Shipping (up 35.4%), Seaspan Corporation (up 82.9%), and Yang Ming Marine Transport (up 233%) [1] Group 3: Market Sentiment and Tariff Impact - In June, the shipping sector experienced a period of consolidation, with tariff policy changes significantly affecting market sentiment [2] - The announcement of new tariffs by Trump on products from over 20 countries raised doubts about the sustainability of shipping demand, leading to declines in several shipping stocks [2] Group 4: Capital Flows and Stock Performance - Despite tariff uncertainties, there was a notable increase in southbound capital supporting the shipping sector, with significant increases in holdings of China COSCO Shipping and China COSCO Energy by southbound funds [3][4] - As of July 11, the holdings of China COSCO Shipping increased from 8.86 billion shares (29.81%) to 9.99 billion shares (34.68%) [4] Group 5: Market Dynamics and Future Outlook - The shipping sector's outlook remains positive, with the Shanghai International Shipping Research Center reporting a shipping prosperity index of 120.81 points for Q2 2025, indicating a favorable market environment [13] - The global economic recovery and increasing international trade volumes are expected to further boost demand for shipping services, particularly with China's trade with Belt and Road countries reaching 11.29 trillion yuan, a 4.7% increase [14][15] Group 6: Structural Changes and Innovations - The shipping industry is actively optimizing its structure, with major companies focusing on matching capacity with demand to avoid oversupply [15] - Environmental regulations and technological advancements are driving the industry towards greener practices and digital transformation, enhancing operational efficiency and long-term competitiveness [15][16]

ORIENT OVERSEAS (INTERNATIONAL) LIMITED 東 方 海 外（國 際）有 限 公 司* （於百慕達註冊成立之成員有限責任公司） （股份代號：316） 有關截至 2024 年 12 月 31 日止年度之年報的 補充公告 茲提述東方海外（國際）有限公司（「本公司」）於 2025 年 4 月 16 日刊發之截 至 2024 年 12 月 31 日止年度之年報（「2024 年年報」）。除文義另有所指外， 本公告所使用的詞彙與 2024 年年報所界定者具有相同涵義。 除 2024 年年報內所披露的資料外，本公司謹此補充說明 2024 年年報綜合財務報 表附註 40（「附註 40」）內有關重大關聯方交易披露的進一步資料如下： 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。 香港，2025 年 7 月 9 日 - 1 - 於本公告日期，本公司之董事為： 執行董事： 萬敏先生、張峰先生及陶衛東先生 非執行董事： 董立均先生、顧金山先 ...

Market Overview - US President Trump has issued new tariff policy letters to 14 countries, leading to a rebound in Hong Kong stocks, with the Hang Seng Index rising 1.09% to 24,148.07 points, ending a three-day decline [1] - The total trading volume for the day was HKD 213.29 billion, indicating active market participation [1] - The Hong Kong Monetary Authority has withdrawn HKD 59.072 billion in liquidity since June 28, tightening liquidity expectations in the short term [1] Blue Chip Performance - Xinyi Solar (00968) led blue-chip gains, rising 5.43% to HKD 2.91, contributing 1.04 points to the Hang Seng Index [2] - Kuaishou-W (01024) and Chow Tai Fook (01929) also saw significant increases of 5.16% and 4.42%, respectively [2] - However, Orient Overseas International (00316) and China Biologic Products (01177) experienced declines, dragging down the index [2] Sector Highlights - Large tech stocks rebounded, with Kuaishou rising over 5% and Meituan and JD.com both increasing over 2% [3] - Stablecoin concept stocks surged, with Jinyong Investment (01328) skyrocketing 533.17% after announcing a partnership with AnchorX [3] - The Macau gaming sector showed strong performance, with total gaming revenue for the first six days of July reaching MOP 4.3 billion, indicating a robust recovery [6] Solar Industry Insights - The solar sector saw strong gains, with New Special Energy (01799) up 12.65% and GCL-Poly Energy (03800) up 10.81% [5] - Recent government meetings emphasized the need to address low-price competition and improve product quality in the solar industry, suggesting potential for supply-side reforms [5] Gaming Sector Developments - Macau's gaming stocks continued to rise, with Wynn Macau (01128) up 6.4% and MGM China (02282) up 3.29% [6] - Morgan Stanley's report indicated that Macau's gaming revenue is expected to see double-digit year-on-year growth in July, marking a cyclical turning point for the industry [6] New Consumption Trends - New consumption stocks performed well, with brands like Blukoo (00325) and Cha Ba Dao (02555) seeing significant increases [6][7] - Gold stocks also rebounded, with Tongguan Gold (00340) rising 6.37% [7] Stablecoin Regulatory Developments - Jinyong Investment announced a strategic partnership with AnchorX to explore potential collaborations in digital asset management and stablecoin applications [4] - The Hong Kong Monetary Authority is consulting the market on regulatory guidelines for stablecoins, with expectations for a limited number of licenses to be issued [4] Logistics Sector Performance - Jitu Express-W (01519) reached a new high, with a reported 23.5% year-on-year increase in package volume for Q2 2025 [9] - The company achieved a total package volume of 139.9 billion for the first half of 2025, reflecting strong growth in the logistics sector [9] AI and Technology Sector Insights - Hongteng Precision (06088) saw an increase of 8.82%, driven by growing demand for AI-related solutions [10] - The company is expected to benefit from its parent group's resources and the increasing demand for AI computing power [10]

Group 1 - The Cathay Securities CSI Hong Kong Stock Connect High Dividend Investment Index Fund (QDII) C has experienced a decline of 0.07% on July 1, with a latest net value of 1.13 yuan, marking a continuous drop for five trading days and a cumulative decline of 1.8% over the period [1] - The fund was established on January 1, 2025, with an initial scale of 0.06 billion yuan and has achieved a cumulative return of 13.34% since its inception [1] Group 2 - Current fund manager Zhang Jing holds a bachelor's degree in finance from the University of International Business and Economics and an MBA from Shanghai University of Finance and Economics, with extensive international experience in asset management [2] - The other fund manager, Deng Yakun, has a master's degree in computational finance from Carnegie Mellon University and has been with Cathay Securities since March 2021, focusing on quantitative investment [2] Group 3 - As of March 31, 2025, the top ten holdings of the Cathay Securities CSI Hong Kong Stock Connect High Dividend Investment Index Fund (QDII) C account for a total of 44.28%, with significant positions in COSCO Shipping Holdings (9.76%), Yancoal Australia (5.88%), and Orient Overseas International (3.94%) among others [3]

Core Viewpoint - The Invesco Great Wall National Index Hong Kong Stock Connect Dividend Low Volatility ETF (159569) has shown a slight decline in its closing price, with a notable increase in both share count and total assets year-to-date [1][2]. Fund Overview - The fund was established on August 14, 2024, with an annual management fee of 0.50% and a custody fee of 0.08% [1]. - As of June 25, 2024, the fund's share count was 119 million, with a total asset size of 151 million yuan, reflecting a 5.30% increase in shares and a 16.69% increase in assets since the beginning of the year [1]. Trading Activity - The ETF recorded a trading volume of 677 million yuan over the last 20 trading days, averaging 33.86 million yuan per day [1]. Fund Management - The current fund managers are Zhang Xiaonan and Gong Lili, with returns of 30.60% and 29.44% respectively since their management began [2]. Top Holdings - The ETF's major holdings include: - Orient Overseas International: 10.26% [3] - Seaspan Corporation: 5.70% [3] - Yanzhou Coal Mining Company: 3.95% [3] - Swire Properties B: 3.88% [3] - CNOOC: 3.78% [3] - China Hongqiao Group: 3.76% [3] - Minsheng Bank: 3.53% [3] - Yuehai Investment: 3.29% [3] - CITIC Bank: 3.28% [3] - Far East Horizon: 3.27% [3]

Core Insights - The Wanjiac ZHONGZHENG Hong Kong Stock Connect Central Enterprise Dividend ETF (159333) closed up 1.35% on June 24, with a trading volume of 36.7761 million yuan [1] - The ETF was established on August 21, 2024, with an annual management fee of 0.50% and a custody fee of 0.10% [1] - As of June 23, 2024, the ETF had 441 million shares outstanding and a total size of 589 million yuan, reflecting a 2.32% increase in shares and a 14.75% increase in size year-to-date [1] Fund Performance - The ETF's manager, Yang Kun, has achieved a return of 33.64% since taking over management on August 21, 2024 [1] - Over the last 20 trading days, the ETF recorded a cumulative trading amount of 684 million yuan, with an average daily trading amount of 34.1891 million yuan [1] Top Holdings - The ETF's top holdings include: - COSCO Shipping Holdings (7.71% holding, 3.6175 million shares, market value of 40.8613 million yuan) [2] - Orient Overseas International (3.06% holding, 152,500 shares, market value of 16.2264 million yuan) [2] - CNOOC (2.77% holding, 860,000 shares, market value of 14.6981 million yuan) [2] - CITIC Bank (2.76% holding, 2.606 million shares, market value of 14.6458 million yuan) [2] - China National Petroleum Corporation (2.65% holding, 2.422 million shares, market value of 14.0587 million yuan) [2] - China National Foreign Trade Transportation Group (2.62% holding, 4.019 million shares, market value of 13.9082 million yuan) [2] - Bank of China (2.54% holding, 3.109 million shares, market value of 13.4560 million yuan) [2] - China Shenhua Energy (2.47% holding, 450,500 shares, market value of 13.1164 million yuan) [2] - Bank of Communications (2.36% holding, 1.947 million shares, market value of 12.5054 million yuan) [2] - China Unicom (2.34% holding, 1.546 million shares, market value of 12.3980 million yuan) [2]

Report Industry Investment Rating No relevant information provided. Core Viewpoints - Shipping companies are attempting to increase freight rates in the first half of July, and attention should be paid to the final implementation. The US - China trade route has seen a simultaneous increase in supply and demand, with freight rates in the East and West of the US reaching a high and potentially peaking. The European route has a downward pressure on capacity in June, and there is an expectation of price increases in August. Ship delays have a negative impact on the SCFIS, and the Israel - Iran conflict has a relatively small direct impact on container shipping [1][3][4][7]. - The recommended strategy is for the main contract to fluctuate, and for arbitrage, go long on the 08 contract and short on the 10 contract, and go long on the 12 contract and short on the 10 contract [9]. Summary by Directory Market Analysis - Online quotes show that multiple shipping companies have reported higher freight rates for July. For example, Maersk's Shanghai - Rotterdam price in week 26 was 1705/2870, and in the first week of July it was 2040/3400 [1]. - Geopolitically, US Vice - President Pence said Trump might take action against Iran's nuclear program, but no specific details were given [2]. - The US - China trade route has seen a rapid increase in demand due to the reduction of Sino - US tariffs. Carriers are actively restoring capacity, with the average weekly capacity in the remaining two weeks of June being 321,000 TEU, 243,400 TEU in May, and 350,000 TEU in July. However, freight rates in the East and West of the US may have peaked [3]. - In June, the capacity pressure on the European route decreased. The average weekly capacity in the remaining two weeks of June was about 236,500 TEU, and there were 5 blank sailings in July and 1 in August [4]. - Ship delays have dragged down the SCFIS on June 16th and are expected to continue to have an impact on June 23rd. The 06 contract's delivery settlement price is expected to be around 1940 points [5]. - The conflict between Israel and Iran may affect the passage of the Strait of Hormuz, which has a greater impact on oil transportation and a relatively small direct impact on container shipping [6]. - There is an expectation of price increases in August as it is a traditional peak season and the statistical capacity in July is relatively low. It is recommended to focus on the peak time of European route freight rates in 2025 and the subsequent downward slope of freight rates. Currently, shipping companies are trying to increase freight rates in July and August [7]. Futures Prices - As of June 18, 2025, the total open interest of all container shipping index European route futures contracts was 88,862 lots, and the single - day trading volume was 93,114 lots. The closing prices of different contracts varied, such as the EC2602 contract at 1430.20, the EC2604 contract at 1243.80, etc. [8] Spot Prices - On June 13, the SCFI (Shanghai - Europe route) price was 1844.00 US dollars/TEU, the SCFI (Shanghai - US West route) was 4120.00 US dollars/FEU, and the SCFI (Shanghai - US East) was 6745.00 US dollars/FEU. On June 16, the SCFIS (Shanghai - Europe) was 1697.63 points, and the SCFIS (Shanghai - US West) was 2908.68 points [8] Container Ship Capacity Supply - 2025 is still a major year for container ship deliveries. As of June 15, 2025, 126 container ships with a total capacity of 1.004 million TEU have been delivered. Among them, 37 ships in the 12,000 - 16,999 TEU range with a total capacity of 557,200 TEU and 6 ships above 17,000 TEU with a total capacity of 142,400 TEU have been delivered [8] Supply Chain - Ship delays have affected the SCFIS, and the conflict between Israel and Iran may have an impact on shipping routes, but the direct impact on container shipping is relatively small [5][6] Demand and European Economy - No specific analysis of demand and European economy is provided in the content other than the potential impact on shipping demand and freight rates due to geopolitical and trade factors [2][3]

港股港口运输股再度走强，中远海能(01138.HK)涨超10%，中远海控(01919.HK)涨超3%，东方海外国 际(00316.HK)涨超2.5%，中远海发(02866.HK)涨超2%。 ...