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 分 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。 （於百慕達註冊成立之有限公司） （股份代號：1199） 股東特別大會通告 (c) 授權本公司董事代表本公司（其 中 包 括）簽 署、訂 立 及 交 付，或 授 權 簽 署、 訂立及交付所有有關文件和作出彼等可能全權酌情認為為使新金融財務 服 務 協 議，其 項 下 的 存 款 交 易 及 建 議 存 款 交 易 上 限 得 以 執 行 及╱或 生 效 或 另 行 就 此 而 言 屬 必 要、權 宜 或 適 宜 及 符 合 本 公 司 利 益 的 一 切 事 宜。」 承董事會命 中遠海運港口有限公司 總 法 律 顧 問、董 事 會 秘 書 洪 雯 香 港，2025年9月18日 註 冊 辦 事 處： 茲通告 中遠海運港口有限公 ...

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Core Viewpoint - Citigroup's research report indicates that China Merchants Port's stock price has increased by 36% over the past 12 months, suggesting that the risk-reward balance is becoming more even [1] Group 1: Stock Performance - China Merchants Port's stock price has risen by 36% in the last year [1] Group 2: Rating and Target Price - Citigroup has downgraded the rating of China Merchants Port from "Buy" to "Neutral" [1] - The target price for China Merchants Port has been raised from HKD 5 to HKD 5.51 [1] Group 3: Market Considerations - The report expresses caution regarding the narrowing of profit margins to approximately 6 percentage points below pre-pandemic levels due to tariff differences and negative demand from shipping companies this year [1]

Core Viewpoint - Goldman Sachs has raised the net profit forecasts for China Merchants Port (00144) and COSCO Shipping Ports (01199) for 2025 to 2027 by 2% to 6% [1] Company Summaries - COSCO Shipping Ports is favored due to strong performance at its European terminals and improved performance at Qianhai Port, with a projected dividend yield of 5% in 2025 and a target price increase from HKD 5.3 to HKD 6, rated as "Buy" [1] - China Merchants Port's target price has been raised from HKD 13.1 to HKD 14.2, rated as "Neutral" [1] Industry Insights - Despite increased US tariffs and trade uncertainties, the container throughput at mainland ports grew by 7% year-on-year in the first half of the year [1] - Future growth projections indicate year-on-year increases of 4.6%, 2.7%, and 2.5% for 2025, 2026, and 2027 respectively, suggesting a slowdown to 2% growth in the second half of 2025 [1] - China Merchants Port anticipates a 2% price increase in contract negotiations for 2026, while other operators expect no further price hikes beyond inflation adjustments [1] - Both China Merchants Port and COSCO Shipping Ports are optimistic about contract price growth for overseas terminals due to faster throughput growth and rising costs [1]

Core Viewpoint - Goldman Sachs has raised the net profit forecasts for China Merchants Port (00144) and COSCO Shipping Ports (01199) for 2025 to 2027 by 2% to 6% [1] Group 1: Company Analysis - COSCO Shipping Ports is favored due to strong performance at its European terminals and improved performance at Qianhai Port, with a projected dividend yield of 5% in 2025 and a target price increase from HKD 5.3 to HKD 6, rated as "Buy" [1] - China Merchants Port's target price has been raised from HKD 13.1 to HKD 14.2, rated as "Neutral" [1] Group 2: Industry Outlook - Despite the backdrop of increased U.S. tariffs and trade uncertainties, the container throughput at mainland ports grew by 7% year-on-year in the first half of the year [1] - Future growth projections indicate year-on-year increases of 4.6%, 2.7%, and 2.5% for 2025, 2026, and 2027 respectively, suggesting a slowdown to 2% growth in the second half of 2025 [1] - China Merchants Port anticipates a 2% price increase in contract negotiations for 2026, while other operators expect no further price hikes beyond inflation adjustments [1] - Both China Merchants Port and COSCO Shipping Ports are optimistic about contract price growth for overseas terminals due to faster throughput growth and rising costs [1]

Core Viewpoint - Despite the increase in US tariffs and trade uncertainties, the container throughput at mainland ports grew by 7% year-on-year in the first half of the year [1] Group 1: Future Growth Projections - Goldman Sachs forecasts annual growth rates for container throughput of 4.6%, 2.7%, and 2.5% for the years 2025, 2026, and 2027 respectively, indicating a slowdown to 2% in the second half of 2025 [1] Group 2: Pricing and Contract Negotiations - China Merchants Port aims to increase contract prices by 2% in negotiations for 2026, while other operators expect no further price hikes beyond inflation adjustments [1] - Both China Merchants Port and COSCO Shipping Ports are optimistic about contract price growth for overseas terminals due to faster throughput growth and rising costs [1] Group 3: Profit Forecasts and Stock Ratings - Goldman Sachs raised net profit forecasts for China Merchants Port and COSCO Shipping Ports by 2% to 6% for the years 2025 to 2027 [1] - COSCO Shipping Ports is favored due to strong performance at European terminals and improved performance at Qianhai Port, with an expected dividend yield of 5% in 2025; target price increased from HKD 5.3 to HKD 6, rated "Buy" [1] - Target price for China Merchants Port increased from HKD 13.1 to HKD 14.2, rated "Neutral" [1]

(Stock Code: 1199) (Incorporated in Bermuda with limited liability) NOTIFICATION LETTER 15 September 2025 Dear Non-registered Holder(s)(1), COSCO SHIPPING Ports Limited (the "Company") – Notice of Publication of 2025 Interim Report The English and Chinese versions of the 2025 Interim Report of the Company (the "Interim Report") are available on the Company's website (https://ports.coscoshipping.com) under the "Investors – IR Home – Financial Reports" section and the HKEXnews' website (www.hkexnews.hk). You ...

(Stock Code: 1199) (Incorporated in Bermuda with limited liability) If you wish to receive printed version(s) of Corporate Communications of the Company, please complete the Request Form on the reverse side of this letter and return it to the Company c/o Tricor Investor Services Limited (the "Branch Share Registrar") by using the mailing label at the bottom of the Request Form (no stamp needs to be affixed if posted in Hong Kong). The Request Form may also be downloaded from the Company's website or the HKE ...

為支持環保，本公司建議 閣下選擇收取網站版本。請 閣下於隨本函附上的回條(「回條」)上適當空 格內劃上「✓」號，並在回條上簽名，然後把回條寄回或親手交回本公司香港股份過戶登記分處卓佳證 券登記有限公司(「股份過戶登記分處」)，地址為香港夏愨道16號遠東金融中心17樓，以作出上述選 擇。倘若 閣下的登記地址為香港地址，請利用郵寄標籤寄回股份過戶登記分處；否則請貼上適當的 郵票。 ( 於百慕達註冊成立之有限公司 ) (股份代號：1199) 選 擇 公 司 通 訊 之 語 言 版 本 及 收 取 方 式 各位股東： 選擇公司通訊之語言版本及收取方式 根據香港聯合交易所有限公司證劵上市規則，本公司現向 閣下提供若干方案，以供選擇按下列方式 收取本公司日後的公司通訊(「公司通訊」)，即本公司刊發或將予刊發以供其任何證劵持有人參照或採 取行動的任何文件，包括但不限於：(a)董事會報告、年度財務報表連同獨立核數師報告及(如適用)財務 摘要報告；(b)中期報告及(如適用)中期摘要報告；(c)會議通告；(d)上市文件；(e)通函；及(f)委任代表 表格。 閣下可選擇： 2025年9月15日 (1) 瀏覽所有日後在本公司網站(h ...

（股份代號：1199） （於百慕達註冊成立之有限公司） 2025 中期報告 聚力創新 譜華章 攜手同行 三十載 (Z:\09. IR\166338 COSCO IR25\cover\Cosco IR25 cover) 關於中遠海運港口有限公司 中遠海運港口圍繞「The Ports for ALL」品牌理念，以「鏈接世界、創享價值」為企業使命，從客戶需求出 發，不斷提升現有全球網絡的服務效能，持續推進關鍵節點港口及物流資源佈局，以港為媒，接通全 球航線服務世界貿易，努力為各方創造共贏共享平台，致力成為「以客戶為中心的全球領先港口物流 服務商」。 目錄 | 財務摘要 | 3 | | --- | --- | | 業務回顧 | 4 | | 財務回顧 | 8 | | 展望 | 12 | | 第一次中期股息 | 13 | | 權益披露 | 14 | | 股票期權計劃 | 14 | | 董事於股份、相關股份及債券的 | 14 | | 權益 | | | 本公司股本中的主要權益 | 16 | | 企業管治及其他資料 | 17 | | 遵守企業管治守則 | 17 | | 董事會下設委員會 | 17 | | 董事進行證券交易之標準 ...