FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中遠海運控股股份有限公司 | 1). | 購回股份(擬註銷但截至期終結存日期尚未註銷) | 3,000,000 | 0.1042 % | HKD | 13.57 | | --- | --- | --- | --- | --- | --- | | | 變動日期 2025年10月31日 | | | | | | 2). | 購回股份(擬註銷但截至期終結存日期尚未註銷) | 1,500,000 | 0.0521 % | HKD | 13.81 | | | 變動日期 2025年11月3日 | | | | | | 3). | 購回股份(擬註銷但截至期終結存日期尚未註銷) | 4,500,000 | 0.1563 % | HKD | 13.71 | | | 變動日期 2025年11月4日 | | | | | | 4). | 購回股份(擬註銷但截至期終結存日期尚未註銷) | 1,250,000 | 0.0434 % | HKD | 13.43 | | | 變動日期 2025 ...

Core Viewpoint - China COSCO Shipping Holdings (中远海控) announced a share buyback plan, intending to repurchase 3 million shares for a total cost of HKD 40.35 million [1] Group 1 - The company plans to execute the buyback on November 24, 2025 [1] - The total expenditure for the buyback is approximately HKD 40.35 million, which reflects the company's confidence in its stock value [1] - The repurchase of shares is expected to enhance shareholder value and improve earnings per share [1]

格隆汇11月24日丨中远海控(01919.HK)发布公告，2025年11月24日耗资4035万港元回购300万股，回购 价格每股13.41-13.56港元。 ...

智通财经APP讯，中远海控(01919)发布公告，于2025年11月24日斥资4035万港元回购300万股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 01919 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | | | | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括 ...

Core Viewpoint - Recently, China COSCO Shipping (Shanghai) Shipping Technology Co., Ltd. was established with a registered capital of 1 billion yuan, focusing on artificial intelligence software development and applications [1] Company Summary - The new company is fully owned by China COSCO Shipping Group Co., Ltd. [1] - The business scope includes development of artificial intelligence theories and algorithms, general application systems, application software, and industry-specific system integration services [1]

Summary of Container Shipping Global Primer: 2026 Outlook Industry Overview - The report focuses on the container shipping industry, analyzing seven container shipping equities, with six rated as Underweight due to challenging supply and demand dynamics [2][11]. Key Points Supply and Demand Dynamics - **Capacity Adjustments**: The global container supply/demand model has been updated, with demand growth for 2026/27/28 revised down by -30/-100/-200 basis points to a 3.0% run rate, aligning closely with GDP growth expectations [4][9]. - **Supply Growth**: Effective supply growth is projected to increase from approximately 4% to 6% for 2026-2028 due to new orders. A return to Red Sea sailings in 1H26 is anticipated, but any earlier resumption could worsen overcapacity, potentially driving effective supply growth above 10% [5][119]. - **Freight Rates**: Freight rates are expected to decline further, following a temporary boost from General Rate Increases (GRI) attempts by carriers [5][11]. Long-term Trends - **Reshoring of Supply Chains**: The report highlights a shift towards reshoring, which is expected to reduce reliance on long-distance sea freight and increase demand for road freight as supply chains shorten [10][9]. - **Market Segmentation**: While some segments will continue to depend on global supply chains, the overall growth rate, particularly for long-distance shipping, is expected to slow, benefiting shorter-haul modes like trucks and rail [10][9]. Financial Outlook - **Equity Valuation**: Despite low price-to-book (P/B) multiples averaging 0.7x across the global container equity coverage, the report warns of downside risks to freight rates and earnings. The average price targets imply a -24% downside [11][134]. - **Company Ratings**: Six companies are rated Underweight (Maersk, COSCO Shipping Holding, Orient Overseas, Nippon Yusen, Mitsui OSK, Kawasaki Kisen), with one rated Equal-weight (SITC) [11][134]. Market Performance - **Container Trade Volumes**: Year-to-date global container trade volumes have increased by 4.7%, but growth rates are moderating, with a decline observed in Asia to North America routes, down -3.1% year-over-year [58][61]. - **Divergence in Trade Routes**: There is a notable divergence in container flows, with volumes from Asia to North America decreasing by -7% to -11%, while volumes to Europe have increased by over 10% [61][58]. Risks and Considerations - **Overcapacity**: The persistent oversupply in the market is a significant concern, with supply additions expected to outpace demand growth through 2027 [115][119]. - **Market Sentiment**: Investor sentiment remains cautious, with many equities already consensus underweights, reflecting the challenging fundamentals of the industry [9][11]. Conclusion - The container shipping industry faces significant challenges in the coming years, with supply growth outpacing demand and freight rates under pressure. The shift towards reshoring and changing trade routes may alter the landscape, but the overall outlook remains cautious due to persistent overcapacity and economic uncertainties.

Core Insights - China COSCO Shipping Technology Co., Ltd. was established on November 21, with a registered capital of 1 billion yuan [1] - The company's business scope includes software development, industrial internet data services, and biomass fuel processing [1] - The company is wholly owned by China COSCO Shipping Group Co., Ltd. [1]

Group 1 - As of November 21, nearly 40 companies in the Shanghai market announced share buybacks and positive operational news, with 32 of these being buyback announcements [1] - Huida Technology announced a new buyback plan of 200 million to 400 million yuan, with a buyback price ceiling of 124.15 yuan per share, representing approximately 0.35% to 0.69% of its total share capital [1] - Other companies like Yongyuan Tourism and Xiangyuan Cultural Tourism also initiated their first buybacks, with significant amounts being allocated for these plans [2] Group 2 - Xiangyuan Cultural Tourism plans to buy back between 80 million to 120 million yuan from November 18, 2025, to May 15, 2026, and has already repurchased 2.095 million shares for 15.63 million yuan [2] - Yongyuan Tourism began its buyback on November 10, 2025, repurchasing 1 million shares for 5.39 million yuan, while Xingdesheng repurchased 200,000 shares for 4.93 million yuan on the same day [2] - China National Shipping Holdings announced a buyback plan of 749 million to 1.498 billion yuan, having repurchased 40.53 million shares for a total of 607 million yuan by November 21 [2] Group 3 - China Jushi disclosed a buyback plan of up to 880 million yuan, having repurchased 34.18 million shares, which is 0.85% of its total share capital, with over 534 million yuan spent in one month [3] - Jiangsu Hengrui Medicine and Zhuzhou Qibin Group also reported their buyback activities, with Hengrui repurchasing 979,900 shares for 59.79 million yuan, totaling 889.87 million yuan in buybacks [3] - Zhuzhou Qibin Group repurchased 15.95 million shares for 112.36 million yuan, with total buybacks reaching 27.96 million shares and 195.96 million yuan spent [3] Group 4 - Seven companies, including Chengdu Bank and China Railway High-tech Industry, reported shareholder buyback progress, with Longi Green Energy's chairman completing a buyback of 6.13 million shares for 100.69 million yuan [4] - Sinopec announced that its controlling shareholder and related parties have increased their holdings by 34.56 million shares for approximately 194 million yuan since April 9, 2025, totaling over 294 million yuan in buybacks [4]

Core Viewpoint - China COSCO Shipping Holdings (中远海控) has been actively repurchasing its shares, with a total expenditure of HKD 601 million over the past 16 consecutive days, indicating a strong commitment to enhancing shareholder value [1]. Summary by Category Share Buyback Activity - The company repurchased 3 million shares on November 21 at prices ranging from HKD 13.430 to HKD 13.630, totaling HKD 40.59 million [1]. - Since October 31, the total shares repurchased amount to 43.188 million, with a cumulative expenditure of HKD 601 million [1]. - In 2023, the company has conducted 106 buybacks, acquiring a total of 423 million shares for a total of HKD 5.614 billion [1]. Stock Performance - On the day of the latest buyback, the stock closed at HKD 13.470, reflecting a decline of 2.04% with a total trading volume of HKD 332 million [1]. - During the buyback period since October 31, the stock has seen a slight increase of 0.67% [1]. Detailed Buyback Data - A detailed table of buyback activities shows consistent repurchases, with the highest buyback price recorded at HKD 15.040 and the lowest at HKD 11.400 [2]. - The buyback activities demonstrate a strategic approach to managing share price and investor confidence [1][2].