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，並明確表示概不就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。 出售船舶 （於香港註冊成立的有限公司） T.S. Lines Limited 德翔海運有限公司 於2026年1月22日，賣方（本公司的直接全資附屬公司）與買方訂立出售協議， 據此，賣方同意出售該船舶（一艘貨櫃船）予買方，代價為23,000,000美元（相等 於約179,400,000港元）。 船舶租賃 於2026年1月22日，TS Singapore（本公司的直接全資附屬公司）、賣方與買方就 船舶租賃訂立船舶租賃協議，期限自2026年1月24日起至2026年3月31日止。 上市規則的涵義 （股份代號：2510） (1)關連交易－出售船舶 及 (2)船舶租賃 買方為陳德勝先生及其家族成員（即莊壯麗女士、陳劭翔先生及陳依琦女士）佔 多數控制權的公司（定義見上市規則）。因此，買方為上述控股股東的聯繫人， 故就上市規則而言為本公司的關連人士。故此，根據上市規則第14A章，出售 事項構成本公司的關連交易，而船舶租賃 ...

Core Insights - The article highlights the net inflow and outflow of funds in the Hong Kong stock market, with Xiaomi Group, Tencent Holdings, and China Construction Bank leading in net inflows, while the Yingfu Fund, Hang Seng China Enterprises, and Southern Hang Seng Technology experienced the highest net outflows [1] Group 1: Net Inflows - Xiaomi Group-W (01810) recorded a net inflow of 1.07 billion, representing a 16.36% increase in its closing price [2] - Tencent Holdings (00700) saw a net inflow of 863 million, with a 7.49% increase in its closing price [2] - China Construction Bank (00939) had a net inflow of 699 million, with a significant 41.06% increase in its closing price [2] Group 2: Net Outflows - Yingfu Fund (02800) experienced the largest net outflow of 6.289 billion, reflecting a -31.44% change in its closing price [2] - Hang Seng China Enterprises (02828) had a net outflow of 2.880 billion, with a -17.89% change in its closing price [2] - Southern Hang Seng Technology (03033) faced a net outflow of 1.289 billion, showing a -11.37% change in its closing price [2] Group 3: Net Inflow Ratios - 361 Degrees (01361) led with a net inflow ratio of 74.40%, with a net inflow of 8.9117 million [3] - BRILLIANCE CHI (01114) followed with a net inflow ratio of 64.04%, amounting to a net inflow of 36.4910 million [3] - Qin Port Co. (03369) had a net inflow ratio of 61.05%, with a net inflow of 846,600 [3] Group 4: Net Outflow Ratios - Wisdom Hong Kong 100 (02825) had a net outflow ratio of -100.00%, with a net outflow of -18,200 [3] - Stone Pharmaceutical Group (02005) recorded a net outflow ratio of -68.86%, with a net outflow of -14.1501 million [3] - Dexion Shipping (02510) experienced a net outflow ratio of -53.53%, with a net outflow of -10.0204 million [3]

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12月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 德翔海運有限公司 | | | 呈交日期: | 2026年1月5日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 02510 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 1,665,031,000 | | 0 | | 1,665,031,000 | | 增加 / 減少 ...

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11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: | 德翔海運有限公司 | | | 呈交日期: | 2025年12月1日 | | | I. 法定/註冊股本變動 | 不適用 | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 02510 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 1,665,031,000 | | 0 | | 1,665,031,000 | | 增加 / 減少 ...

Group 1 - The shipping stocks experienced a collective decline, with significant drops in share prices for major companies in the sector [1] - Yang Ming Marine Transport Corp (德翔海运) saw a decrease of 4.92%, trading at 8.7 HKD [1] - Seaspan Corporation (海丰国际) fell by 2.89%, with shares priced at 29.58 HKD [1] - China COSCO Shipping Corporation (中远海控) dropped by 2.33%, with a share price of 13.83 HKD [1] - Orient Overseas International (东方海外国际) declined by 1.93%, trading at 132.2 HKD [1]

Group 1 - Shipping stocks collectively declined, with specific drops including: Yang Ming Marine Transport Corp (02510) down 4.92% to HKD 8.7, SITC International Holdings (01308) down 2.89% to HKD 29.58, China COSCO Shipping Corporation (01919) down 2.33% to HKD 13.83, and Orient Overseas International (00316) down 1.93% to HKD 132.2 [1] - The Houthis warned on November 9 that if the ceasefire agreement in Gaza breaks down and Israel resumes its offensive, they would resume attacks on Israel and prohibit Israeli vessels from navigating the Red Sea and Arabian Sea [1] - Since the ceasefire began on October 10, the Houthis have not claimed any attacks, leading the market to interpret this as a halt in their aggression [1] Group 2 - Concerns are rising that a large-scale return to the Red Sea could lead to a significant further decline in global shipping rates [1] - A report from FANGZHENG Futures indicated that while media reported the Houthis announced a halt to attacks on Red Sea merchant ships, the authenticity of this news remains to be verified [1] - Even if some senior officials of the Houthis have made similar statements, shipping companies may still be cautious due to the potential for the Houthis to change their stance regarding Gaza, leading to a preference for cautious, gradual resumption of operations rather than immediate full resumption [1]

Core Viewpoint - The shipping stocks have collectively declined due to concerns over potential disruptions in maritime operations following warnings from the Houthi movement regarding renewed attacks on Israeli vessels if the ceasefire in Gaza collapses [1] Group 1: Stock Performance - The stock prices of major shipping companies have dropped significantly, with De Xiong Shipping (02510) down 4.92% to HKD 8.7, Hai Feng International (01308) down 2.89% to HKD 29.58, COSCO Shipping Holdings (601919) (01919) down 2.33% to HKD 13.83, and Orient Overseas International (00316) down 1.93% to HKD 132.2 [1] Group 2: Market Concerns - The market is worried that a large-scale return of Houthi attacks in the Red Sea could lead to a significant drop in global shipping rates [1] - Reports indicate that the Houthi movement has announced a halt to attacks on commercial vessels in the Red Sea, although the authenticity of this information remains uncertain [1] - Even if some Houthi officials have made statements about ceasing attacks, shipping companies may still be cautious and prefer a gradual resumption of operations rather than a full-scale return to normalcy [1]

Core Viewpoint - The recent performance of the Hong Kong IPO market has been active, with several stocks showing significant gains, particularly Derxiang Shipping (02510.HK), which has seen a remarkable increase in its stock price since its listing on November 1, 2024, becoming a focal point in the sector [2] Group 1: Company Performance - Derxiang Shipping's stock price reached a closing price of HKD 9.13 on November 13, 2025, representing a cumulative increase of 174.8% since its listing, and an increase of 118% from its initial offering price of HKD 4.18 per share [2] - The company has a solid business layout and excellent performance, which has further consolidated its market-leading position [3] - As of June 30, 2025, Derxiang Shipping operated 49 routes, serving 22 countries and regions globally, with approximately 60 ports [3] Group 2: Market Conditions - The shipping market experienced a price surge in May and June 2025, driven by concentrated demand for exports and tight port capacity, leading to a rapid increase in global shipping prices [3] - Ongoing tensions in the Middle East have increased risks on existing shipping routes, forcing vessels to take longer alternative routes, which not only extended transit times but also raised operational costs such as fuel and labor, further supporting rising shipping prices [3] Group 3: Financial Performance - In the first half of 2025, Derxiang Shipping reported revenues of approximately USD 641 million, a year-on-year increase of 18.7%, and a net profit of USD 189 million, a substantial year-on-year growth of 222.0% [4] - The gross profit margin improved from 8.7% in the same period last year to 19.8% [4] - The significant profit increase was attributed to rising average freight rates and an increase in the number of vessels rented at higher rates [5] Group 4: Operational Efficiency - The young fleet structure of Derxiang Shipping has reduced maintenance costs and improved operational efficiency and fuel economy [5] - A high proportion of owned vessels has decreased reliance on the charter market, providing the company with greater operational flexibility and cost control capabilities, which is beneficial for further profit enhancement [5] Group 5: Resilience in Performance - Despite market fluctuations in the second half of 2025, Derxiang Shipping maintained strong performance, with revenues of USD 963 million in the first nine months, a slight year-on-year increase of 0.51% [6] - The company’s flexible market strategy, young fleet structure, and focus on the Asia-Pacific market have allowed it to sustain steady growth amid global market volatility [6]

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10月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 德翔海運有限公司 | | | 呈交日期: | 2025年11月3日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 02510 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 1,665,031,000 | | 0 | | 1,665,031,000 | | 增加 / 減少 ...

Core Points - The Huatai-PineBridge Science and Technology Bond ETF (551510.SH) closed up by 0.05% on October 31, 2025 [1] - The fund experienced a net outflow of 1.404 billion yuan from major funds (transactions over 1 million yuan), ranking first in the market [1] - The latest trading volume for the fund was 24.4096 million units, with the latest transaction amount falling below 2.5 billion yuan, placing it among the bottom two of comparable funds [1]