（股份代號：1138） 延遲寄發通函 茲 提 述 本 公 司 日 期 為 二 零 二 五 年 十 二 月 十 二 日 的 公 告，內 容 有 關 造 船 合 約 及 其 項 下擬進行之交易（「該公告」）。除 另 有 定 義 外，本 公 告 所 用 詞 彙 與 該 公 告 所 界 定 者 具 有 相 同 涵 義。 誠 如 該 公 告 所 披 露，根 據 上 市 規 則，一 份 載 有（其 中 包 括）以下詳情的通函（「通 函」）： (i)造 船 合 約 及 其 項 下 擬 進 行 之 交 易；(ii)獨立董事委員會向獨立股東提供的推薦建 議；及(iii)獨立財務顧問向獨立董事委員會及獨立股東出具之載有其意見之意見函， 連 同 特 別 股 東 會 通 告，預 期 將 於 二 零 二 六 年 一 月 七 日 或 之 前 寄 發 予 股 東。 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 依 賴 該 等 內 容 而 引 ...

Group 1 - The core viewpoint of the article highlights that China Merchants Energy (中远海能) has seen its stock price increase by over 3%, currently trading at 9.98 HKD with a transaction volume of 32.645 million HKD [1] - Chevron has booked a small fleet of tankers to head to Venezuela, becoming the sole exporter of oil from the country following the capture of President Maduro by U.S. forces [1] - At least 11 tankers chartered by Chevron are scheduled to arrive at government-controlled ports in Venezuela, marking an increase from 9 tankers in December last year and the highest number since October when 12 tankers were loading cargo [1] Group 2 - Morgan Stanley has released a report indicating that China Merchants Energy's stock price is expected to see absolute gains in the next 30 days due to recent price corrections making its short-term valuation more attractive [1] - The report notes an increase in demand for legitimate tankers amid geopolitical dynamics, estimating a 70% to 80% probability of this scenario occurring, which is considered "highly likely" [1]

Core Viewpoint - The stock of China Cosco Shipping Energy Transportation Co., Ltd. (中远海能) has risen over 3%, currently trading at HKD 9.98, with a trading volume of HKD 32.645 million, driven by geopolitical developments and increased demand for oil tankers [1]. Group 1: Company Performance - China Cosco Shipping Energy's stock price increased by 3.41% [1]. - The trading volume reached HKD 32.645 million, indicating active market interest [1]. Group 2: Industry Developments - Chevron has booked a small fleet of tankers to transport oil to Venezuela, becoming the sole exporter of the country's oil following the capture of President Maduro by U.S. forces [1]. - At least 11 tankers chartered by Chevron are scheduled to arrive at government-controlled ports in Venezuela, marking an increase from 9 tankers in December last year and the highest number since October when 12 tankers were loading cargo [1]. - Morgan Stanley's report suggests that the stock price of China Cosco Shipping Energy is likely to see absolute gains in the next 30 days due to recent price corrections making it more attractive [1]. - The report highlights a rising demand for legitimate oil tankers amid geopolitical dynamics, estimating a 70% to 80% probability of this scenario occurring [1].

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002320 | 海峡股份 | 11.46 | -0.26% | 48.02万 | 5.53亿 | | 001205 | 盛航股份 | 16.88 | 0.06% | 2.73万 | 4584.43万 | | 601008 | 连云港 | 5.34 | 0.19% | 24.53万 | 1.31亿 | | 600751 | 海航科技 | 3.81 | 0.26% | 44.09万 | 1.68亿 | | 600279 | 重庆港 | 5.44 | 0.37% | 15.79万 | 8575.70万 | | 920571 | 国航远洋 | 9.93 | 0.40% | 9.36万 | 9278.21万 | | 001872 | 招商港口 | 19.38 | 0.41% | 3.30万 | 6393.00万 | | SISTOS | 中远海控 | 14.97 | 0.47% | 72.99万 | 10.89亿 | | 603209 | 兴通股份 | 4 ...

Group 1 - The core viewpoint of the news is that the geopolitical situation is driving oil prices higher, with the Venezuelan oil supply being significantly disrupted, leading to a potential short-term increase in oil prices [1] - The China Securities report indicates that Venezuela's oil exports have essentially halted, creating a supply disruption in the global market, with a potential shortfall of around 1 million barrels per day [1] - The current global oil market remains in a supply surplus, with expectations that oil prices will fluctuate between $60 to $70 per barrel despite short-term upward pressure [1] Group 2 - The National Oil and Gas Index (399439) has seen a strong increase of 1.45%, with significant gains in constituent stocks such as Intercontinental Oil and Gas (600759) up 9.21% and Shanghai Petrochemical (600688) up 4.36% [1] - The top ten weighted stocks in the National Oil and Gas Index as of December 31, 2025, include major companies like China National Petroleum (601857) and China Petroleum & Chemical (600028), collectively accounting for 67.11% of the index [2] - The Oil and Gas ETF (159697) closely tracks the National Oil and Gas Index, reflecting the price changes of publicly listed companies in the oil and gas sector [2][3]

Core Viewpoint - The rising geopolitical risks in Venezuela are supporting oil transportation demand during the off-peak season, as indicated by Changjiang Securities' research report [1][2]. Group 1: Company Performance - Zhongyuan Shipping (中远海能) shares have increased by 3.62%, reaching HKD 10.02, with a trading volume of HKD 70.86 million [1][2]. Group 2: Market Dynamics - Venezuela's oil exports are expected to be 700,000 barrels per day in 2024, accounting for 1.8% of global oil exports, primarily to China and the United States [1][2]. - The recent U.S. actions against Venezuela have temporarily halted its oil exports, although there has been no significant damage to the state-owned oil company PDVSA's facilities [1][2]. - The disruption in Venezuelan exports may lead to tighter heavy oil supply in China and the U.S., prompting increased imports of heavy crude oil from Middle Eastern and Latin American countries, thereby raising compliant oil transportation demand [1][2]. Group 3: Long-term Outlook - Venezuela is characterized as a country with high reserves but low production, holding 19% of global oil reserves while contributing only 1.3% to global production [1][2]. - Former President Trump has indicated a strong intervention in Venezuela's oil industry, which could potentially increase the demand for Venezuelan oil along long-distance routes to the Far East, reshaping trade patterns [1][2].

Core Viewpoint - Morgan Stanley predicts that the stock price of China Merchants Energy (01138) will experience absolute growth in the next 30 days due to recent price corrections making its short-term valuation more attractive [1] Group 1: Stock Performance - The stock has recently undergone a correction, enhancing its short-term valuation appeal [1] - Morgan Stanley has assigned a "Buy" rating to China Merchants Energy with a target price of HKD 13.2 [1] Group 2: Market Dynamics - There is an increasing demand for legitimate oil tankers amid geopolitical developments [1] - Morgan Stanley estimates the probability of this scenario occurring to be around 70% to 80%, indicating it is "highly likely" [1]

Core Viewpoint - Morgan Stanley's report indicates that China Merchants Energy Shipping Company (600026)(01138) is expected to experience absolute price appreciation within the next 30 days due to recent price corrections making its short-term valuation more attractive [1] Group 1: Company Analysis - The stock has recently undergone a correction, enhancing its short-term valuation appeal [1] - Morgan Stanley has assigned a "Buy" rating to China Merchants Energy with a target price of HKD 13.2 [1] Group 2: Industry Insights - There is an increasing demand for legitimate oil tankers driven by geopolitical dynamics [1] - Morgan Stanley estimates the probability of this scenario occurring to be around 70% to 80%, indicating it is "highly likely" [1]

Core Viewpoint - Morgan Stanley believes that the stock price of China Merchants Energy Shipping Company (中远海能) will experience absolute growth in the next 30 days, with a probability of 70% to 80% or "very likely" [1] Summary by Category - **Stock Performance**: The stock has recently undergone a correction, making its short-term valuation more attractive [1] - **Market Demand**: There is an increasing demand for legitimate oil tankers due to geopolitical dynamics [1] - **Rating and Target Price**: Morgan Stanley has assigned an "Overweight" rating to China Merchants Energy Shipping and set a target price of HKD 13.2 [1]

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: 中遠海運能源運輸股份有限公司 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 600026 | 說明 | A股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,169,220,839 | RMB | | 1 | RMB | | 4,169,220,839 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 4,169,220,839 | RMB | | 1 | RMB | | 4,169,220,839 | | 2 ...