Investment Rating - The report maintains a "Buy" rating for the company with a target price of HKD 2.50, reflecting a 19% increase from the previous target price [7][5]. Core Views - The company's performance in the first half of 2025 showed a significant decline in net profit, down 55.6% year-on-year to USD 25.6 million, primarily due to weak global dry bulk market demand and falling freight rates [1][2]. - The report anticipates a potential recovery in freight rates in the second half of 2025, driven by seasonal demand and macroeconomic factors such as the US interest rate cycle and China's economic recovery [1][4]. - The report suggests that the dry bulk market may have reached a low point in the first half of 2025, with expectations for improved profitability in 2026-2027 [5][4]. Summary by Sections Financial Performance - In the first half of 2025, the company's average daily freight rates for handy and super handy bulk carriers decreased by 6.8% and 10.7% year-on-year, respectively [2]. - The company's fleet operating days decreased by 7.4% for handy and 5.5% for super handy vessels due to the disposal of older ships [3]. - The report projects a decline in net profit for 2025, with estimates revised down by 53.0% to USD 70.58 million, while 2026 and 2027 profits are expected to improve [5][11]. Market Outlook - The report highlights that global dry bulk shipping volumes for iron ore, coal, and grain fell by 4%, 7%, and 13% year-on-year, respectively, in the first half of 2025 [2]. - It emphasizes the importance of monitoring the US interest rate cycle and China's domestic demand as key factors influencing global dry bulk demand and freight rates [4][5]. Valuation - The report adjusts the price-to-book (PB) valuation multiple to 0.9x for 2025, aligning with the company's historical average, and raises the target price to HKD 2.50 [5][8]. - The report indicates that the company's market valuation may benefit from improved liquidity in the Hong Kong stock market [5].

受行业运价影响，公司上半年实现运价同比下滑，但仍好于行业平均水平 上半年BHSI、BSI指数分别同比下降21.6%、30.0%，公司小灵便船、大灵便船分别实现TCE运价为 11,010美元/天及12,230美元/天，同比下滑7%、11%，分别较市场指数高出27%和40%。 上半年股份持续推进回购，分红比例稳定，资产负债表强劲 根据公司年初公告，2025年计划使用不超过3.12亿港元进行股份回购，截至6月底，公司已回购0.93亿 股，占年初股本的1.8%，已使用回购金额1.64亿港元。1H25公司年中分红比例约50%(不包括货船出售 收益)，公司维持稳定的分红政策。公司资产负债表保持强劲，截至1H25，公司现金净额为0.66亿美 元，此外公司通过可转债转股及偿还借款，长期借款较2024年年底大幅下降，进一步改善公司现金状 况，并减轻未来付息压力，根据公司公告，预计到8月14日公司可转换债券均完成转换或赎回。 中金发布研报称，维持太平洋航运(02343)盈利预测基本不变，当前股价对应9.8倍2025年市盈率和8.8倍 2026年市盈率。维持跑赢行业评级不变，考虑到行业风险偏好改善，上调公司目标价14.3%至2.4 ...

Group 1 - The top three stocks with net inflow of southbound funds are Yingfu Fund (02800) with 6.292 billion, Hang Seng China Enterprises (02828) with 1.618 billion, and Southern Hang Seng Technology (03033) with 0.956 billion [1] - The top three stocks with net outflow of southbound funds are China Mobile (00941) with -0.289 billion, Jitu Express-W (01519) with -0.185 billion, and Horizon Robotics-W (09660) with -0.152 billion [1] - In terms of net inflow ratio, Anjii Food (02648), Pacific Shipping (02343), and Yuehai Investment (00270) lead the market with 55.07%, 54.09%, and 53.58% respectively [1] Group 2 - The top ten stocks with the highest net inflow include Yingfu Fund (02800) at 6.292 billion, Hang Seng China Enterprises (02828) at 1.618 billion, and Southern Hang Seng Technology (03033) at 0.956 billion [2] - The top ten stocks with the highest net outflow include China Mobile (00941) at -0.289 billion, Jitu Express-W (01519) at -0.185 billion, and Horizon Robotics-W (09660) at -0.152 billion [2] - The top three stocks with the highest net inflow ratio are Anjii Food (02648) at 55.07%, Pacific Shipping (02343) at 54.09%, and Yuehai Investment (00270) at 53.58% [3]

Major Events - Silver诺医药-B (02591) is set to conduct an IPO from August 7 to August 12, with an expected listing date of August 15 [1] - Boan Biotech (06955) plans to place 48 million shares at a discount of approximately 8.78%, aiming to raise about HKD 780 million [1] - Derin Holdings (01709) intends to raise HKD 653.3 million, focusing on the development of blockchain, RWA, and virtual asset businesses [1] - Fuhong Hanlin (02696) received FDA approval to initiate a Phase 1 clinical trial for HLX43, a PD-L1 targeted antibody-drug conjugate for thymic cancer treatment [1] - China Biopharmaceutical (01177) obtained NMPA approval for the Phase II clinical trial application of LM-24C5, a dual antibody targeting CEACAM5/4-1BB [1] Financial Reports - China Mobile (00941) reported a shareholder profit of HKD 84.235 billion, a year-on-year increase of 5.03% [1] - Manulife Financial-S (00945) announced a core profit of CAD 1.7 billion for the second quarter [1] - Swire Properties (01972) reported a basic profit attributable to shareholders of HKD 4.42 billion, a year-on-year growth of 15% [1] - Hutchison Whampoa (00013) posted a net profit of USD 455 million, a significant year-on-year increase of 1663.32% [1] - MGM China (02282) disclosed a net profit of HKD 2.383 billion, a year-on-year decrease of 11.25% [1] - SMIC (00981) reported a shareholder profit of USD 132 million for the second quarter, with a revenue guidance for the third quarter indicating a sequential growth of 5% to 7% [1] - Zai Lab (09688) achieved a total revenue of approximately USD 216 million for the first half of the year, reflecting a year-on-year growth of 15.35% [1] - Innovent Biologics (01801) reported total product revenue exceeding RMB 5.2 billion for the first half of the year, maintaining a strong growth rate of over 35% [1] - Pacific Basin Shipping (02343) announced a profit attributable to shareholders of USD 25.6 million, a year-on-year decrease of 56% [1] - Lee & Man Paper Manufacturing (02314) reported a net profit of HKD 811 million, a year-on-year increase of 0.7%, with an interim dividend of HKD 0.066 per share [1] - Swire Group reported a profit attributable to shareholders of HKD 815 million for the first half of the year, a year-on-year decrease of 79% [1] - Lee & Man Chemical Company (00746) reported a profit increase of 36.0% to HKD 327 million, with an interim dividend of HKD 0.195 per share [1] - Hua Hong Semiconductor (01347) reported a profit attributable to parent company owners of USD 7.952 million for the second quarter, a year-on-year increase of 19.2% [1] - Wharf Real Estate Investment (01997) reported a loss attributable to shareholders of HKD 2.406 billion, a year-on-year increase of 128.71%, with the first interim dividend of HKD 0.066 per share [1] - Dekang Agriculture (02419) issued a profit warning, expecting a year-on-year increase in fair value adjustments of biological assets to approximately RMB 1.1 billion to 1.4 billion [1] - Mongol Mining (00975) issued a profit warning, anticipating a net loss of approximately USD 15 million to 25 million for the first half of the year, marking a shift from profit to loss [1] - Dongfeng Motor Group (00489) issued a profit warning, expecting a decline in net profit attributable to the parent company of 90% to 95% for the first half of the year [1]

Pacific Basin Shipping (02343) H1 2025 Earnings Call August 07, 2025 06:00 AM ET Speaker0Welcome to today's Pacific Basin twenty twenty five interim results announcement conference call. I am pleased to present chief executive officer, mister Martin Frugaard, and chief financial officer, mister Jimmy Ng. For the first part of this call, all participants will be in listen only mode. And afterwards, there will be a question and answer session. Mister Frugaard, please begin.Speaker1Thank you. Yeah. Welcome, la ...

Financial Performance - The company generated EBITDA of US$121.5 million, underlying profit of US$21.9 million, and net profit of US$25.6 million in 1H 2025[9] - Core business contributed US$50.7 million before overheads in 1H 2025[9] - An interim dividend of HK1.6 cents per share was declared, amounting to US$10.4 million, representing 50% of net profit for the period (excluding vessel disposal gains)[8] - Revenue decreased from US$1,281.5 million in 1H 2024 to US$1,018.7 million in 1H 2025[38] - The company repurchased and cancelled 93 million shares at an average price of HK$1.76 for a total consideration of US$21 million under the 2025 share buyback programme[13] Liquidity and Balance Sheet - The company had net cash of US$66.4 million and available committed liquidity of US$549.9 million as of June 30, 2025[9] - A new US$250 million 7-year revolving credit facility was announced in July 2025, further increasing available committed liquidity[9, 45] - Total borrowings decreased from US$262.3 million as of December 31, 2024, to US$229.1 million as of June 30, 2025[45] Fleet and Operations - Handysize spot market rates in 1H25 averaged US$8,690, up 21% year-over-year[15] - Supramax spot market rates in 1H25 averaged US$8,750, up 34% year-over-year[15] - Handysize TCE was US$11,010 per day, down 7% year-over-year, while Supramax TCE was US$12,230 per day, down 11% year-over-year[22] - The company outperformed the average Handysize index by US$2,320 or 27% per day and the average Supramax index by US$3,480 or 40% per day in 1H 2025[25, 29]

每经AI快讯，8月7日，太平洋航运(02343.HK)在港交所发布中期业绩报告，期内营业额约10.2亿美元， 同比减少21%；净利润2560万美元，同比减少56%。 ...

| 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 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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 太平洋航運集團有限公司* | | 股份代號 | 02343 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年6月30日止六個月的中期股息 | | 公告日期 | 2025年8月7日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 不適用 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 0.016 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.016 HKD | | 匯率 | 1 HKD : 1 HKD | | 除淨日 | 2025年8 ...

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。 * 截至2025年6月30日止六個月 的中期業績公布 太平洋航運集團有限公司（「太平洋航運」或「本公司」）董事會（「董事會」）欣然公布本公司及其附屬公司（統稱「本集團」）截至2025年6月30 日止六個月的未經審核簡明綜合業績如下： 業務摘要 在市況疲弱下展現財務韌性 業務表現 | | 截至6月30日止六個月 | | | --- | --- | --- | | 百萬美元 | 2025年 | 2024年 | | 營業額 | 1,018.7 | 1,281.5 | | 稅息折舊及攤銷前溢利 # | 121.5 | 157.9 | | 基本溢利 | 21.9 | 43.9 | | 股東應佔溢利 | 25.6 | 57.6 | | （港仙） 每股基本盈利 | 3.9 | 8.7 | | 每股中期股息 （港仙） | 1.6 | 4.1 | 稅息折舊及攤銷前溢利乃按毛利減間接一般及行政管理開支計算，不包括折 舊及攤銷、 ...

職權範圍 於2025年8月1日獲批准及採納 1. 整體目的及目標 提名委員會 提名委員會（「委員會」）獲太平洋航運集團有限公司 (「本公司」)董事會（「董事會」） 委任以協 助董事會履行其監督職責。委員會將監督董事會之董事提名以確保所有該等提名為公平和透明。 2. 權力 董事會授權委員會，於其職責範圍內： 3. 角色和職責 委員會應當履行下列責任： * 僅供識別 1 2.1 與準候選人進行面試； 2.2 聘用獨立專業顧問以協助物色合資格之董事候選人及履行其職責，費用由本公司支付； 2.3 不時與其他董事合作以履行其角色和職責；及 2.4 於適當情況下，將其執行權力轉授予指定董事或管理層之成員。 4. 提名政策 第 3.1 至 3.3 段的條文被視為本公司提名董事的主要提名標準和原則, 這些條文構成本公司的「提名政 策」。 5. 組織 成員 會議 2 3.4 支援本公司定期評估董事會表現； 3.5 評核獨立非執行董事之獨立性； 3.6 不時檢視此職權範圍及董事會多元化政策，並酌情向董事會提出建議； 3.7 每年檢討董事會多元化政策的實施及有效性，並酌情向董事會提出建議； 3.8 每年檢討本公司確保董事會可獲得獨 ...