Summary of the Investor Presentation on HK/China Transportation Industry Overview - **Industry Focus**: The presentation covers the transportation sector in Hong Kong and China, specifically focusing on airlines, shipping, and express delivery [1][6]. Airlines - **Market Outlook**: The outlook for Chinese airlines remains bullish, driven by a supply-driven upcycle. Business demand is gradually recovering, with summer weaknesses fading [2][73]. - **Pricing Dynamics**: There is a closing pricing inflection due to continuous improvements in Passenger Load Factor (PLF) and a consensus among airlines against anti-involution practices [2][69]. - **Key Picks**: - Top pick: Air China-H (0753.HK) - Other recommendations: China Eastern Airlines-H (0670.HK), China Southern Airlines-H (1055.HK), Spring Airlines (601021.SS) [2][73]. - **Performance Metrics**: - 3Q25 total Revenue Passenger Kilometers (RPK) grew by 6.3% YoY, reaching +23% compared to 2019 levels [12][14]. - Domestic PLF improved to 89.4% in October, up by 4.1 percentage points YoY [28][69]. - Business route passenger growth recovered to 5.9% in October from approximately 3% during the summer [24][69]. Shipping - **Geopolitical Influences**: Geopolitical dynamics are significant factors affecting the shipping industry. VLCC (Very Large Crude Carrier) rates have reached new highs due to increased demand for "legitimate tankers" [3][80]. - **Tanker Market**: The tanker upcycle is expected to continue, with limited VLCC deliveries until the second half of 2026 [80][84]. - **Container Shipping Outlook**: The outlook for container shipping remains uncertain due to oversupply and disruptions from global trade frictions. The container ship orderbook/fleet ratio is at 32%, indicating high supply pressure [3][115][118]. Express Delivery - **Market Trends**: The express delivery industry is experiencing decelerated volume growth, with smaller players losing market share amid anti-involution initiatives. Leading players are consolidating and acquiring a majority of segment profits [4][125][127]. - **Key Players**: ZTO (ZTO.N) and YTO (600233.SS) are highlighted as market share leaders, while concerns remain for smaller players like Yunda (002120.SZ) due to sustained profit pressure [9][130]. Additional Insights - **Inbound Travel Recovery**: International demand growth for airlines remains robust, with total international capacity recovering to approximately 85% of 2019 levels, and that operated by Chinese airlines reaching about 105% [29][31]. - **Profitability Metrics**: The correlation between load factors and margins suggests that improved PLFs will support higher profitability for airlines [70][72]. - **Market Consolidation**: The express delivery market is consolidating, with leading players benefiting from anti-involution measures, while smaller players struggle to maintain market share [125][127]. This summary encapsulates the key insights and metrics from the investor presentation, providing a comprehensive overview of the current state and outlook of the transportation sector in Hong Kong and China.

Core Viewpoint - The event "Promoting Green Innovation Cooperation and Building a Green Silk Road" highlighted China's commitment to green low-carbon development and its collaborative efforts with global partners, particularly in South America, to address climate change challenges [1][4]. Group 1: China's Green Development Initiatives - China has accumulated systematic experience in promoting green low-carbon development and has established effective cooperation pathways [1][4]. - The China Ocean Shipping Group (COSCO) aims to lead the shipping industry's green transformation and collaborate with various stakeholders to advance the Green Silk Road [1][4]. Group 2: Key Areas of Cooperation - COSCO emphasizes five key areas for deepening cooperation with global partners: 1. Connecting green supply chain networks 2. Researching green innovation technologies 3. Building green energy systems 4. Constructing smart green ports 5. Expanding green development ecosystems [4]. Group 3: Case Study - Chancay Port - Chancay Port in Peru, a key project under the Belt and Road Initiative, has become South America's first smart green port, achieving full-process intelligent management from ship docking to yard operations [4]. - Within just one year of opening, Chancay Port has rapidly grown to become Peru's third-largest port, with increasing throughput and export capacity [4].

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 呈交日期： 2025年11月14日 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 | | | | | | | | | 事件 | 已發行股份（不包括庫存股份）變動 | 佔有關事件前的現有已發 | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（ ...

格隆汇11月14日丨中远海控(01919.HK)发布公告，2025年11月14日耗资4258.27万港元回购300万股，回 购价格每股14.11-14.31港元。 ...

中远海控（601919）(01919)发布公告，于2025年11月14日，该公司斥资4258.27万港元回购300万股股 份，每股回购价格为14.11-14.31港元。 ...

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 呈交日期： 2025年11月14日 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 | | | | | | | | | 事件 | 已發行股份（不包括庫存股份）變動 | 佔有關事件前的現有已發 | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（ ...

自10月31日以来公司已连续10日进行回购，合计回购2518.80万股，累计回购金额3.52亿港元。 其间该 股累计上涨7.32%。 （原标题：中远海控(01919.HK)11月13日回购4295.02万港元，已连续10日回购） 证券时报•数据宝统计，中远海控在港交所公告显示，11月13日以每股14.230港元至14.400港元的价格回 购300.00万股，回购金额达4295.02万港元。该股当日收盘价14.360港元，下跌0.35%，全天成交额2.88 亿港元。 今年以来该股累计进行98次回购，合计回购3.71亿股，累计回购金额48.49亿港元。（数据宝） 中远海控回购明细 | 日期 | 回购股数 | 回购最高价 | 回购最低价 | 回购金额 | | --- | --- | --- | --- | --- | | | （万股） | （港元） | （港元） | （万港元） | | 2025.11.13 | 300.00 | 14.400 | 14.230 | 4295.02 | | 2025.11.12 | 300.00 | 14.430 | 14.260 | 4313.82 | | 2025.11.11 | ...

证券时报·数据宝统计，中远海控在港交所公告显示，11月13日以每股14.230港元至14.400港元的价格回 购300.00万股，回购金额达4295.02万港元。该股当日收盘价14.360港元，下跌0.35%，全天成交额2.88 亿港元。 自10月31日以来公司已连续10日进行回购，合计回购2518.80万股，累计回购金额3.52亿港元。 其间该 股累计上涨7.32%。 今年以来该股累计进行98次回购，合计回购3.71亿股，累计回购金额48.49亿港元。（数据宝） 中远海控回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.11.13 | 300.00 | 14.400 | 14.230 | 4295.02 | | 2025.11.12 | 300.00 | 14.430 | 14.260 | 4313.82 | | 2025.11.11 | 300.00 | 14.390 | 14.110 | 4254.13 | | 2025.11.10 | 300.00 | 14 ...

| 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 | 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（不包括庫存股 份）數目百分比 (註3) | | 庫存股份數目 | 每股發行/出售價 (註4) | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2025年11月12日 | | 2,879,819,500 | | 0 | | 2,879,819,500 | | 1). 其他 (請註明) | | | | % | | | | | 見B部 | | | | | | | | | 變動日期 | 2025年11月13日 | | | | | | | | 於下列日期 ...

智通财经APP讯，中远海控(01919)公布，2025年11月13日耗资4295.02万港元回购300万股股份。 ...