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。 （於開曼群島註冊成立的有限公司） （股份代號：2409） 須予披露交易 出售一艘船舶 Seacon Shipping Group Holdings Limited 洲際船務集團控股有限公司 出售事項 董事會宣佈，於2025年10月17日（聯交所交易時段後），賣方（本公司的間接全資 附屬公司）、買方及担保人訂立協議，據此，賣方同意出售而買方同意購買該船 舶，代價為17,100,000美元。 該船舶目前由擁有人根據光船租賃出租予賣方。賣方將根據光船租賃之條款按購 買選擇權價格購買該船舶。賣方透過行使購買選擇權擬購買之該船舶應根據協議 進一步交付予買方。 上市規則的涵義 由於參照上市規則第14.07條計算，出售事項的最高適用百分比率超過5%但低於 25%，故根據上市規則第14章，出售事項構成本公司的一項須予披露交易，須遵 守上市規則第14章的申報及公告規定。 由於參照上市規則第14.07條計算，有關行使購買選 ...

Group 1 - The Ministry of Transport announced a special port service fee for various types of vessels involved with the U.S., which may allow the company to gain more market share due to its efficient local operations compared to overseas competitors [1] - The shipping service business showed resilience despite a decline in market rates, with the Baltic Dry Index (BDI) and the Clean Tanker Index (BCTI) dropping by 30% and 32% year-on-year, respectively. The company's shipping revenue decreased by 23% to $80 million, with chartered vessel revenue down 26% to $30 million and controlled vessel revenue down 21% to $50 million [1] - The gross margin for chartered vessels increased by 2.4 percentage points to 4.1%, while the gross margin for controlled vessels decreased by 19.6 percentage points to 28.3%, indicating that the company's performance decline was less severe than the market rate drop [1] Group 2 - The company expanded its fleet size and improved the age structure of its vessels, controlling 38 vessels with a total capacity of 1.48 million deadweight tons, a 2.1% increase year-on-year. The average age of the fleet decreased from 6 years in 2024 to 5 years [2] - The bulk shipping market is expected to improve, with the BDI index showing a 5% year-on-year increase in Q3 2025, and the company is likely to benefit from this trend as bulk carriers constitute the largest portion of its fleet [2] Group 3 - The company's performance met expectations, with a revised average price growth forecast of 0% for 2025. The projected net profits for 2025-2027 are $47 million, $60 million, and $74 million, respectively, with a corresponding PE ratio of 6, 5, and 4 [3] - The company's PE ratio of 4.55 is significantly lower than the median and average PE ratios of comparable companies in the shipping and port industry, indicating over 20% upside potential [3]

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company is expected to benefit from the implementation of special port fees for U.S. vessels, enhancing the competitiveness of Chinese ship management companies [7] - The shipping service business demonstrated resilience despite a decline in market rates, with a year-on-year revenue decrease of 23% to $80 million in the first half of 2025 [7] - The ship management business saw a significant profit increase, with revenue rising 73% year-on-year to $57 million and a pre-tax profit increase of 104% to $8.1 million [7] - The fleet size is expanding, with an average ship age reduction from 6 years in 2024 to 5 years, improving market competitiveness [7] - The dry bulk shipping market is showing signs of recovery, with the BDI index increasing by 5% year-on-year in Q3 2025 [7] - The company's performance aligns with expectations, with revised profit forecasts for 2025-2027 indicating net profits of $47 million, $60 million, and $74 million respectively [7] Financial Data and Profit Forecast - Revenue projections for the company are as follows: - 2023A: $259 million - 2024A: $282 million - 2025E: $346 million - 2026E: $371 million - 2027E: $412 million [6][8] - Net profit forecasts are as follows: - 2023A: $21 million - 2024A: $70 million - 2025E: $47 million - 2026E: $60 million - 2027E: $74 million [6][8] - The company’s PE ratios are projected to be 6, 5, and 4 for 2025, 2026, and 2027 respectively, indicating significant upside potential compared to peers [7]

Core Viewpoint - The company, Intercontinental Shipping (02409.HK), has entered into a bareboat charter agreement for three bulk carriers, enhancing its fleet and operational capacity while ensuring capital liquidity and diversification [1][3]. Group 1: Charter Agreement Details - The company has signed a bareboat charter agreement with an owner for a bulk carrier with an estimated value of approximately $86.6 million, with a lease term of 180 months from the delivery date [1]. - The owner of the vessels is wholly owned by Bank of China Financial Leasing Co., Ltd., which is approximately 92.6% owned by Bank of China [1]. - The charterers are indirect wholly-owned subsidiaries of the company, primarily engaged in ship ownership and leasing services [1]. Group 2: Lease Payment Structure - The lease payments consist of fixed and variable components, with fixed payments structured as follows: $195,000 for the first three years, $260,000 for the second three years, $325,000 for the third three years, $390,000 for the fourth three years, and $455,000 for the final three years [2]. - The variable lease fee is calculated at a rate of 1.88% plus a reference rate on the outstanding principal balance of the lease [2]. Group 3: Strategic Implications - The bareboat charter arrangement aligns with the company's ongoing strategy to expand its controlled fleet by acquiring three bulk carriers, thereby increasing its bulk transport capacity [3]. - This expansion is expected to better meet market demand for large equipment shipping services, generate additional revenue, and create greater value and returns for shareholders [3].

Core Viewpoint - The company, Intercontinental Shipping (02409), has announced a bareboat charter agreement to lease a vessel, which aligns with its strategic goal of expanding its controlled fleet while maintaining capital liquidity [1] Group 1: Charter Agreement Details - The company has entered into a bareboat charter agreement with one of the owners for the leasing of a vessel [1] - The leasing involves three wholly-owned subsidiaries of the company: SEACON ATLANTA LTD., SEACON BARCELONA LTD., and SEACON COLOMPO LTD. [1] - The vessels are bulk carriers with a deadweight tonnage of approximately 40,400 dwt, constructed under respective shipbuilding contracts [1] Group 2: Strategic Implications - The bareboat charter arrangement is part of the company's ongoing strategy to enhance its controlled fleet by acquiring three bulk carriers [1] - This acquisition is expected to increase the company's bulk transportation capacity, allowing it to better meet market demand for large equipment shipping services [1] - The initiative aims to generate additional revenue and create greater value and returns for shareholders [1]

Core Viewpoint - The company, Intercontinental Shipping (02409), has announced a bareboat charter agreement to lease a vessel, which aligns with its strategy to expand its controlled fleet and enhance its bulk shipping capacity [1] Group 1: Charter Agreement Details - The company has entered into a bareboat charter agreement with one of the owners for a vessel to be leased to its three wholly-owned subsidiaries: SEACON ATLANTA LTD., SEACON BARCELONA LTD., and SEACON COLOMPO LTD. [1] - The vessel is a bulk carrier with a deadweight tonnage of approximately 40,400 dwt, constructed under the respective shipbuilding contracts [1] Group 2: Strategic Implications - This charter arrangement is part of the company's ongoing strategy to diversify and expand its controlled fleet while maintaining capital liquidity [1] - By acquiring these vessels, the company aims to increase its bulk transportation capacity, better meet market demand for large equipment shipping services, and generate additional revenue, thereby creating greater value and returns for shareholders [1]

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。 Seacon Shipping Group Holdings Limited 洲際船務集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2409） 主要交易 有關三艘船舶的光船租賃安排 光船租賃安排 董事會宣佈，於2025年10月16日（聯交所交易時段後），(1)各租船人（為本公司三 間間接全資附屬公司）與其中一名擁有人訂立光船租賃，據此，相關擁有人同意 將一艘船舶租賃予相應租船人；及(2)本集團同意訂立保證文件、以擁有人為受益 人的擔保及多方協議。 上市規則涵義 由於光船租賃安排乃與擁有人訂立，光船租賃安排根據上市規則第14.22條應進 行合併計算。 由於參照上市規則第14.07條計算，有關光船租賃安排的最高適用百分比率合計 超過25%但低於100%，故根據上市規則第14章，光船租賃安排構成本公司的主 要交易，須遵守上市規則第14章項下的申報、公告及股東批准的規定。 – 1 – 董事會宣 ...

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 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 洲際船務集團控股有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 | 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) | 02409 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 700,000,000 | HKD | | 0.01 HKD | | 7,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 700,000,000 | HKD | | 0.01 HKD | | 7,000,000 | 第 2 頁 共 10 頁 v ...

Core Viewpoint - The company, through its wholly-owned subsidiary SG XINDE INVESTMENT (HK) LIMITED, plans to acquire a 40% stake in the target company, CIMC Xinde Leasing (Shenzhen) Co., Ltd., for approximately RMB 482 million, aiming to enhance its operational capabilities and market influence in the shipping industry [1][2]. Group 1: Acquisition Details - The acquisition involves a purchase price of approximately RMB 482 million for a 40% stake in the target company [1]. - The target company is primarily engaged in container, vessel, and general leasing services, as well as investment activities using its own funds [1][2]. - Upon completion of the acquisition, the ownership structure will be 40% for the company, 20% for the seller, and 40% for CIMC Group [1]. Group 2: Strategic Objectives - The acquisition aims to integrate shipping operations, management, investment, and financing to establish a circular ecosystem across the maritime value chain [2]. - The company expects to leverage resources from CIMC Group and the seller to enhance market influence and achieve operational synergies [2]. - The acquisition will extend the maritime industry chain, creating a one-stop maritime service platform covering the entire lifecycle of ship design, construction, financing, management, and operation [2]. Group 3: Financial Implications - The company will provide guarantees to ensure the target company can secure operational funding, which is crucial for its main business activities [2]. - A guarantee agreement will be established by October 2025, covering a loan amount of USD 40.44 million along with associated interests, costs, and expenses [1].

Core Viewpoint - The company is acquiring a 40% stake in the target company for approximately RMB 482 million, aiming to enhance its operational capabilities and market influence in the shipping industry [1][2]. Group 1: Acquisition Details - The acquisition involves SG XINDE INVESTMENT (HK) LIMITED as the buyer and Shenzhen Financing Leasing Group as the seller, with the transaction expected to be completed by September 29, 2025 [1]. - The company will provide guarantees related to the target company's loan agreements, amounting to approximately USD 40.44 million, along with associated interest, costs, and expenses [1]. Group 2: Strategic Objectives - The acquisition aims to integrate shipping operations, management, investment, and financing to create a circular ecosystem within the maritime value chain [2]. - By leveraging resources from the parent company and the seller, the company anticipates expanding its market influence and achieving operational synergies [2]. - The target company will enhance its leasing business and benefit from the company's professional ship management services, ensuring seamless integration and effective risk control [2]. Group 3: Financial Considerations - The management believes that providing guarantees is crucial for the target company's operational funding and will support its main business activities, ensuring stable growth [2]. - The board considers the terms of the acquisition and guarantees to be fair and reasonable, aligning with the overall interests of the company and its shareholders [3].