公司名稱: 太平洋航運集團有限公司* 截至月份: 2026年3月31日 狀態: 新提交 致：香港交易及結算所有限公司 呈交日期: 2026年3月31日 I. 法定/註冊股本變動 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02343 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 36,000,000,000 | USD | | 0.01 | USD | | 360,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 36,000,000,000 | USD | | 0.01 | USD | | 360,000,000 | 本月底 ...

Investment Rating - The report maintains a "Recommendation" rating for the industry [3] Core Insights - The mid-term outlook for the oil shipping industry remains positive, with increased value in dividend assets for recent allocations [1] - High oil prices are raising stagflation expectations, highlighting the defensive value of dividend assets [1] - The report emphasizes the importance of monitoring the impact of oil prices on industry profitability across various sectors [1] Shipping Sector Summary - The shipping industry is experiencing rising freight rates due to escalating regional conflicts and increased fuel costs, with significant price increases noted in major shipping routes [11][29] - The demand for oil tankers is expected to surge if the geopolitical situation stabilizes, despite current challenges in the Strait of Hormuz affecting shipping volumes [7][13] - Recommended stocks in the shipping sector include COSCO Shipping Energy, COSCO Shipping Holdings, and others [7] Infrastructure Sector Summary - Recent data shows a slight increase in truck traffic and stable performance in major infrastructure assets, with a focus on dividend yield [20][19] - The report suggests that port assets are currently undervalued and could benefit from geopolitical tensions, making them attractive for investment [20] - Recommended stocks include Anhui Expressway, Datong Railway, and others [20] Express Delivery Sector Summary - The express delivery sector shows signs of recovery with stable demand growth, despite a slight decline in recent weekly volumes [21][22] - The report highlights the low valuation of the sector and the potential for profit growth due to rising fuel surcharges [22] - Recommended stocks include SF Express, Shentong Express, and others [22] Aviation Sector Summary - The aviation industry is witnessing a steady increase in passenger volume, but there are concerns regarding the impact of rising oil prices on profitability [23][24] - The report notes that domestic ticket prices have increased, which may help offset fuel costs [24] - The report advises monitoring the actual ticket price performance and its ability to cover fuel costs [24]

Core Viewpoint - Pacific Shipping (02343) has experienced a significant decline in stock price, dropping over 20% cumulatively post-earnings report, with a current trading price of 2.83 HKD and a trading volume of 226 million HKD [3]. Company Performance - The company reported a revenue of 2.081 billion USD for 2025, representing a year-on-year decrease of 19% [3]. - Shareholder profit attributable to the company was 58.2 million USD, down 56% year-on-year, which was below market expectations [3]. - The decline in performance is attributed to lower Time Charter Equivalent (TCE) rates than anticipated, influenced by industry freight rates [3]. Industry Context - Ongoing geopolitical conflicts in the Middle East have led to a sustained low volume of vessel traffic near the Strait of Hormuz, potentially increasing operational costs for shipping companies due to high oil prices [3]. - The stalemate in the Middle East has resulted in a significant drop in trade volumes for commodities such as grain, steel, and fertilizers, with some vessels being redirected to the Indian Ocean, impacting rental rates on these routes [3]. - There is a noted divergence in performance between different sizes of vessels within the shipping industry [3].

Core Viewpoint - Pacific Shipping (02343) has experienced a significant decline in stock price, dropping over 20% cumulatively post-earnings report, with a current trading price of HKD 2.83 and a trading volume of HKD 226 million [1] Company Performance - Pacific Shipping reported a revenue of USD 208.1 million for 2025, representing a year-on-year decrease of 19% [1] - The company's net profit attributable to shareholders was USD 5.82 million, down 56% year-on-year, which was below market expectations [1] - The decline in performance is attributed to lower Time Charter Equivalent (TCE) rates than anticipated, although the company's rates were still better than the industry average [1] Industry Context - Ongoing geopolitical conflicts in the Middle East have led to a sustained low volume of vessel traffic in the Strait of Hormuz, potentially increasing operational costs for shipping companies due to high oil prices [1] - The stalemate in the Middle East has resulted in a significant drop in trade volumes for commodities such as grain, steel, and fertilizers, with some vessels being redirected to the Indian Ocean, impacting rental rates on those routes [1] - The market is witnessing a divergence in performance between different sizes of vessels due to these geopolitical and economic factors [1]

Group 1 - Pacific Shipping (02343.HK) experienced a significant decline, dropping over 9% during intraday trading and closing down 5.96% at HKD 2.83 [2] - The trading volume reached HKD 226 million, indicating substantial market activity [2]

(Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） （Stock code 股份代號: 2343） N OT IF IC ATI ON LET TE R 通 知 信 函 Dear non-registered shareholder(s)(1) , Pacific Basin Shipping Limited (the "Company") Yours faithfully, For and on behalf of Pacific Basin Shipping Limited Mok Kit Ting Kitty Company Secretary 各位非登記股東( 1 )： 太平洋航運集團有限公司 *（「本公司」） - 2 0 2 5 年年報、將於 2026 年 4 月 2 2 日舉行之股東週年大會股東通函及通告 之發布通知 本公司本次公司通訊的中文及英文版本已登載於本公司網站 www.pacificbasin.com 及香港交易所披露易網站 www.hkexnews.hk，歡迎查閱。此外， 一份全 面的可持續發展報告 亦已登載 ...

(Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） （Stock code 股份代號: 2343） N OT IF IC ATI ON LET TE R 通 知 信 函 Dear registered shareholder(s), 19 March 2026 Pacific Basin Shipping Limited (the "Company") 太平洋航運集團有限公司 *（「本公司」） - 2 0 2 5 年年報、將於 2026 年 4 月 2 2 日舉行之股東週年大會股東通函、通告及委任代表表格 （「本次公司通訊」）之發 布通知 - Notice of Publication of 2025 Annual Report, Circular, Notice of Annual General Meeting of the Company to be held on 22 April 2026 and Proxy Form ("Current Corporate Communication") The English and ...

* 2026年4月22日（星期三） 舉行的股東週年大會適用的委任代表表格 電郵地址 （附註4） 為太平洋航運集團有限公司*（「本公司」）的股東，現委託 （附註5） 本公司股東週年大會（「大會」）主席 或 地址 為本人（或吾等）的代表，代表本人（或吾等）出席2026年4月22日（星期三）上午10時正以網上虛擬 會議形式舉行的大會及其任何續會，並就日期為2026年3月19日的大會通告（「股東週年大會通告」） 中列出的下列決議案代表本人（或吾等）行事和投票表決；若無作出任何指示，則代表本人（或吾等） 自行酌情決定。 | | 普通決議案 | 贊成 （附註6） | 反對 （附註6） | | --- | --- | --- | --- | | 1 | 省覽及採納截至2025年12月31日止年度的經審核財務報表、 | | | | | 本公司董事會報告及本公司核數師報告 | | | | 2 | 宣派截至2025年12月31日止年度的末期股息 | | | | 3 | (a) 重選莊偉林先生為獨立非執行董事 | | | | | (b) 重選Stanley Hutter Ryan先生為獨立非執行董事 | | | | | (c) 重 ...

1 1. 省覽及採納截至2025年12月31日止年度的經審核財務報表、本公司董事（「董事」）會報告及本公司 核數師報告； 2. 宣派截至2025年12月31日止年度的末期股息； 3. 重選以下人士為董事並授權董事會（「董事會」）釐定其薪酬： (a) 重選莊偉林先生為獨立非執行董事； (b) 重選Stanley Hutter Ryan先生為獨立非執行董事； (c) 重選Martin Fruergaard先生為執行董事； (d) 重選Kristian Helt先生為執行董事； (e) 重選Harindarpal Singh Banga博士為非執行董事； (f) 重選Angad Banga先生為非執行董事；及 (g) 授權董事會釐定董事薪酬； 4. 續聘羅兵咸永道會計師事務所（執業會計師及註冊公眾利益實體核數師）為本公司截至2026年12月 31日止年度的核數師及授權董事會釐定其酬金； 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布的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不就因本公布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。 * 股東週年大會通告 茲 ...

此乃要件 請即處理 閣下如對本通函的任何方面或應採取的行動有任何疑問，應諮詢 閣下的股票經紀 或其他註冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已將名下全部太平洋航運集團有限公司的股份售出或轉讓，應立即將本通函 及隨附的委任代表表格交予買主，或送交經手買賣或轉讓的銀行、股票經紀或其他 代理商，以便轉交買主。 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通函的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本通函全部或任何部 分內容而產生或因倚賴該等內容引致的任何損失承擔任何責任。 * 宣派末期股息、 重選董事、 發行及購回股份的一般授權 及 股東週年大會通告 太平洋航運集團有限公司謹訂於2026年4月22日（星期三）上午10時正以網上虛擬會議 形式舉行2026年股東週年大會（「股東週年大會」），大會通告載於本通函內第28至32頁。 不論 閣下能否出席網上股東週年大會，務請盡快將隨附的委任代表表格按其上印 備的指示填妥，並須於股東週年大會或其任何續會指定舉行時間的48小時前交回。 閣 下填妥及交回委任代表表格後，屆時仍可依願出席網上股東週年大會或其任何續會， ...