Core Viewpoint - The Invesco Great Wall Hong Kong Stock Connect Dividend Low Volatility ETF (159569) experienced a decline of 2.81% on February 2, 2024, with a trading volume of 56.36 million yuan [1] 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 January 30, 2025, the fund had 343 million shares outstanding and a total size of 478 million yuan, showing a 1.72% decrease in shares and a 2.60% increase in size compared to December 31, 2024 [1] Liquidity Analysis - Over the last 20 trading days, the ETF recorded a cumulative trading amount of 690 million yuan, with an average daily trading amount of 34.49 million yuan [1] - Since the beginning of the year, the ETF has seen a cumulative trading amount of 726 million yuan over 21 trading days, with an average daily trading amount of 34.58 million yuan [1] Fund Management - The current fund managers are Gong Lili and Wang Yang, with Gong managing the fund since August 29, 2024, achieving a return of 45.41%, while Wang has managed it since August 13, 2025, with a return of 3.51% [2] Top Holdings - The ETF's top holdings include: - China COSCO Shipping (8.86% of holdings) - Orient Overseas International (7.48%) - Yanzhou Coal Mining (5.65%) - Seaspan Corporation (4.52%) - Yancoal Australia (4.46%) - WH Group (3.76%) - China Shenhua Energy (3.63%) - Far East Horizon (3.39%) - CNOOC (3.27%) - Sinopec (3.26%) [2][3]

每日怡见 . 以下文章来源于每日怡见 ，作者每日怡见 关注 国际、财经、社会 作者： 每日怡见 来源： 每日怡见 ----------------------------- 1月29日，巴拿马最高法院宣布， 长江和记公司持有的巴拿马运河两岸港口特许经营权合约无效， 属于"违宪"。 简单的说，就是长和在1996年竞标获胜，2021年续签的巴拿马运河两个关键港口的 特许经营权合 同被判决无效。 巴拿马政府马上要把这两个关键港口的运营权收回去。 这也就意味着长和原本想把包括这两个港口在内的43个港口打包出售给美国贝莱德财团的计划，也 将宣告破产。 看上去这是冲着美国人去的，可实际上呢，你抽丝剥茧，会发现这份判决完全就是冲着我们来的。 咱们把时间线给梳理一下。 这件事的起因是在去年3月份，长和突然出来宣布要将分布在全球23个国家的43个港口卖给美国的 贝莱德财团。 这其中就包括了位于巴拿马运河的两个关键港口。 在这件事情发生之后，我们表示了高度关注。 因为在海运时代，每一处港口，不仅关系着供应链的稳定和国际贸易的通畅，在大国竞争背景下， 港口网络的布局与运营能力，更是会直接影响国家在全球价值链中的地位和地缘博弈的主动 ...

Group 1 - The top three companies with the highest short position ratios are China COSCO Shipping (01919) at 17.74%, Vanke (02202) at 17.56%, and Dongfang Electric (01072) at 17.36% [1][2] - The companies with the largest absolute increase in short position ratios are Neway Group (01686) with an increase of 2.33%, China Ship Leasing (03877) with an increase of 2.23%, and Pacific Shipping (02343) with an increase of 1.78% [1][2] - The companies with the largest absolute decrease in short position ratios are Zhaoyan New Drug (06127) with a decrease of -1.92%, Lens Technology (06613) with a decrease of -1.51%, and Country Garden (02007) with a decrease of -1.48% [1][3] Group 2 - The latest short position ratios for the top ten companies show China COSCO Shipping (01919) at 17.74%, Vanke (02202) at 17.56%, and Dongfang Electric (01072) at 17.36% [2] - The companies with the largest increases in short position ratios include Neway Group (01686) from 3.65% to 5.99%, China Ship Leasing (03877) from 0.74% to 2.97%, and Pacific Shipping (02343) from 5.02% to 6.80% [2] - The companies with the largest decreases in short position ratios include Zhaoyan New Drug (06127) from 7.94% to 6.02%, Lens Technology (06613) from 8.32% to 6.80%, and Country Garden (02007) from 3.02% to 1.54% [3][4]

据北京日报，1月30日，外交部发言人郭嘉昆主持例行记者会。 彭博社记者提问，巴拿马最高法院已宣布，授权长江和记实业运营巴拿马港口码头的合同无效。这两个码头是长江和记试图出售的一个包含43个港 口资产组合的一部分，潜在买方财团包括美国的贝莱德以及中国的中远海运。中方对巴拿马最高法院的这一决定有何评论？该裁决是否会影响相关 交易目前正在进行的谈判？ "相信你注意到有关企业已经第一时间发表声明，表示该裁决有悖于巴拿马方面批准相关特许经营权的法律，企业将保留包括诉讼法律程序在内的所 有权利。"郭嘉昆说， 中方将采取一切必要措施，坚决维护中方企业正当合法权益 。 ...

彭博社记者提问，巴拿马最高法院已宣布，授权长江和记实业运营巴拿马港口码头的合同无效。这两个 码头是长江和记试图出售的一个包含43个港口资产组合的一部分，潜在买方财团包括美国的贝莱德以及 中国的中远海运。中方对巴拿马最高法院的这一决定有何评论？该裁决是否会影响相关交易目前正在进 行的谈判？ "相信你注意到有关企业已经第一时间发表声明，表示该裁决有悖于巴拿马方面批准相关特许经营权的 法律，企业将保留包括诉讼法律程序在内的所有权利。"郭嘉昆说，中方将采取一切必要措施，坚决维 护中方企业正当合法权益。（记者 刘晓琰） 责任编辑：刘万里 SF014 【#外交部回应巴拿马涉港口有关裁决#】1月30日，外交部发言人郭嘉昆主持例行记者会。 【#外交部回应巴拿马涉港口有关裁决#】1月30日，外交部发言人郭嘉昆主持例行记者会。 "相信你注意到有关企业已经第一时间发表声明，表示该裁决有悖于巴拿马方面批准相关特许经营权的 法律，企业将保留包括诉讼法律程序在内的所有权利。"郭嘉昆说，中方将采取一切必要措施，坚决维 护中方企业正当合法权益。（记者 刘晓琰） 责任编辑：刘万里 SF014 彭博社记者提问，巴拿马最高法院已宣布，授权长江和记 ...

证券日报网讯1月29日，中远海控（601919）在互动平台回答投资者提问时表示，公司主要依托全球航 线网络开展业务，欧洲是公司重要的海外市场之一。根据公司2025年第三季度报告披露的数据，公司亚 欧航线(包括地中海)1至9月实现航线收入约304亿元人民币，约占公司航线收入比为20%。 ...

Core Viewpoint - The shipping industry has not yet passed its worst period, with excess supply and the reopening of the Red Sea route likely leading to EBIT losses in 2026 [1] Group 1: Industry Outlook - Bank of America Securities predicts that the first half of 2026 will be negatively impacted by a significant increase in vessel supply [1] - The second half of 2026 is expected to face increasing pressure from the anticipated reopening of the Red Sea route [1] - The expected losses will likely lead shipping companies to reduce shareholder returns in 2026 to preserve cash during the downturn [1] Group 2: Company Ratings - The bank maintains a "underperform" rating for COSCO Shipping Holdings (601919), Orient Overseas International (00316), and Evergreen Marine (2603.TW) [1] - A "neutral" rating is maintained for Japanese shipping companies due to current valuations being above historical lows [1] Group 3: Risks and Monitoring - Close attention is required regarding negative news related to the restoration of the Red Sea route [1] - There is a risk of further declines in spot freight rates as port congestion eases and seasonal factors diminish [1]

Group 1 - The core viewpoint of the article is that the container shipping industry has not yet passed its worst period, with excess supply and the reopening of the Red Sea route likely leading to EBIT losses in 2026 [1] - Bank of America Securities predicts that the first half of 2026 will be negatively impacted by a significant increase in vessel supply, while the second half will face increasing pressure from the prospects of the Red Sea reopening [1] - The anticipated losses are expected to prompt container shipping companies to reduce shareholder returns in 2026 to preserve cash during the downturn [1] Group 2 - The bank maintains a "underperform" rating on COSCO Shipping Holdings (01919), Orient Overseas International (00316), and Evergreen Marine (2603.TW), while holding a "neutral" rating on Japanese shipping companies due to current valuations being above historical lows [1] - There is a need to closely monitor negative news regarding the restoration of the Red Sea route, as well as the risk of further declines in spot freight rates due to easing port congestion and seasonal factors [1]

Core Viewpoint - The container shipping industry has not yet passed its worst period, with excess supply and the reopening of the Red Sea route likely leading to EBIT losses in 2026 [1] Group 1: Industry Outlook - Bank of America Securities predicts that the first half of 2026 will be heavily impacted by a significant increase in vessel supply [1] - The second half of 2026 is expected to face increasing pressure from the anticipated reopening of the Red Sea route [1] - The expected losses will likely lead container shipping companies to reduce shareholder returns in 2026 to preserve cash during the downturn [1] Group 2: Company Ratings - The bank maintains an "underperform" rating for COSCO Shipping Holdings, Orient Overseas, and Evergreen Marine [1] - A "neutral" rating is maintained for Japanese shipping companies due to current valuations being above historical lows [1] Group 3: Risks and Considerations - Close attention is required regarding negative news related to the restoration of the Red Sea route [1] - There is a risk of further declines in spot freight rates as port congestion eases and seasonal factors diminish [1]

Core Viewpoint - Citigroup has upgraded the rating of China COSCO Shipping Holdings (01919) from "Sell" to "Buy," raising the target price from HKD 12.1 to HKD 15.9, despite negative investment sentiment in the container shipping industry expected until the end of 2025 [6]. Group 1: Company Analysis - The upgrade reflects a positive outlook on the risk-return profile for shipping companies in the Asia-Pacific region [6]. - China COSCO Shipping Holdings has a net cash per share of HKD 12, which supports its valuation [6]. Group 2: Industry Outlook - The shipping industry is expected to face negative sentiment due to concentrated demand in the first half of 2025 and the resumption of traffic through the Suez Canal [6]. - Citigroup anticipates that freight rates will rise in the first half of 2026, driven by inventory replenishment demand in Western economies and managed supply [6]. - The overall valuation of Asia-Pacific shipping companies is attractive, with forecasted price-to-book ratios ranging from 0.6 to 0.8 times [6]. - The impact of weak domestic transportation demand in China and pressure from U.S. port fees is gradually diminishing [6].