Core Viewpoint - The company, COSCO Shipping Holdings, announced a share buyback of 730,000 shares on March 23, 2026, representing 0.0265% of the existing issued shares prior to the event [1] Group 1: Share Buyback Details - The buyback price ranged from 14.83 HKD to 15.14 HKD per share [1] - The total amount paid for the buyback was 10,940,065 HKD, approximately 10.94 million HKD [1] - The company received authorization on May 28, 2025, to repurchase a total of 287,981,950 shares [1] Group 2: Future Actions - Following this buyback, the company will temporarily halt the issuance of new shares or the sale of treasury shares until April 22, 2026 [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) with a target price of RMB 18.80 and HKD 18.00 [7]. Core Views - The company reported a revenue of RMB 219.5 billion for 2025, a year-on-year decrease of 6.1%, and a net profit of RMB 30.87 billion, down 37.1% year-on-year, primarily due to increased new ship supply and weak cargo demand leading to a significant drop in freight rates [1][2]. - The outlook for 2026 suggests a potential rebound in freight rates due to disruptions in global trade supply chains caused by the current Middle East situation, which may significantly boost the company's profitability [1][3]. - The company announced a year-end dividend of RMB 0.44 per share, corresponding to an annual payout ratio of 50% [1]. Summary by Sections Financial Performance - In 2025, the company handled a total container volume of 27.43 million TEUs, representing a year-on-year increase of 5.8% [2]. - Freight rates for major routes saw significant declines: Trans-Pacific rates dropped by 17.8%, European rates by 22.7%, and intra-Asia rates by 3.5% [2]. Market Outlook - The escalation of the Middle East situation has increased risks in the Red Sea and surrounding areas, leading to longer shipping routes and decreased vessel turnover efficiency [3]. - As of March 20, 2026, the Shanghai Containerized Freight Index (SCFI) and other indices have shown increases of 28.0% and 7.3% respectively compared to February 27, 2026, indicating a potential recovery in freight rates [3]. Supply and Demand Dynamics - Global new ship supply is expected to grow by 3.8% in 2026, with the effective capacity potentially tightening due to the current geopolitical situation, which may support freight rate increases [4]. - The report anticipates a rebound in freight rates for Middle East, India-Pakistan, and European routes, with a chain reaction expected across other global routes [5]. Earnings Forecast - The net profit forecast for 2026 has been raised by 85% to RMB 28.87 billion, with estimates for 2027 and 2028 set at RMB 23.65 billion and RMB 26.02 billion respectively [5]. - The target price has been adjusted upwards by 6% to RMB 18.80 and by 16% to HKD 18.00, reflecting a valuation premium due to current market conditions [5].

格隆汇3月23日丨中远海控(01919.HK)发布公告，2025年3月23日耗资1094万港元回购73万股，回购价格 每股14.83-15.14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： 2026年3月23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 | | | | | | | | | | 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 ...

Core Viewpoint - The current situation in the Middle East is highly uncertain, which may impact the operations of China Merchants Energy Shipping Company (中远海控) if disruptions persist [1] Group 1: Company Insights - China Merchants Energy Shipping Company's management indicated that while the spillover effects are currently limited, prolonged disruptions could exacerbate the situation [1] - The company sources most of its fuel from the spot market and anticipates an increase in fuel costs by $10 per ton, which will cumulatively add $78 million to expenses [1] - The company is negotiating fuel surcharges with clients to mitigate the impact of rising fuel costs [1] Group 2: Financial Forecasts - Daiwa has revised the company's earnings forecast for 2026 to 2027 down by 2% to 13% [1] - The target price for the company has been raised from HKD 14 to HKD 15, while maintaining a "Hold" rating [1]

智通财经APP获悉，美银证券发布研报称，维持中远海控(01919)"跑输大市"评级，目标价由原来基于 0.65倍市账率上调至0.75倍;目标价仍维持于13.5港元不变。美银证券轻微调整中远海控2026至2028年每 股盈利预测，上调幅度少于1%，以反映2025年下半年业绩。另对2026年净利润的预测为170亿元人民 币。 报告中称，中远海控2025年下半年业绩略逊预期，第四季实现运价及终端利润表现较弱，但股东回报策 略未变，公司宣派末期息，派息比率为50%。该行表示，霍尔木兹海峡为前景增添不确定性，但认为相 关干扰的影响远细于红海事件，而中远海控目前估值已接近红海事件高峰时的0.9倍市账率。 ...

报告中称，中远海控2025年下半年业绩略逊预期，第四季实现运价及终端利润表现较弱，但股东回报策 略未变，公司宣派末期息，派息比率为50%。该行表示，霍尔木兹海峡为前景增添不确定性，但认为相 关干扰的影响远细于红海事件，而中远海控目前估值已接近红海事件高峰时的0.9倍市账率。 智通财经APP获悉，美银证券发布研报称，维持中远海控(01919)"跑输大市"评级，目标价由原来基于 0.65倍市账率上调至0.75倍;目标价仍维持于13.5港元不变。美银证券轻微调整中远海控2026至2028年每 股盈利预测，上调幅度少于1%，以反映2025年下半年业绩。另对2026年净利润的预测为170亿元人民 币。 ...

Group 1: Strategic Development and Fleet Expansion - The company maintains strategic focus amidst the restructuring of the container shipping alliance, promoting significant growth in capacity and green fleet upgrades [1] - By 2025, the company will receive 12 vessels of 16,000 TEU capacity, totaling approximately 200,000 TEU, with a self-operated fleet reaching 3.6 million TEU, maintaining a 75% share of owned and chartered capacity [1] - The company has successfully delivered 3 green methanol vessels and has ordered 14 additional methanol dual-fuel container ships, totaling 42 green vessels in operation and under construction, enhancing core competitiveness [1] Group 2: Global Network and Service Integration - The company actively promotes marine alliance cooperation, leveraging the DAY9 series route products to provide high punctuality and fast delivery services, significantly improving cargo turnover efficiency and reducing logistics costs [2] - The company has established a comprehensive network integrating "hub + channel + network" to support projects like the Hainan Free Trade Port and the New Era Yala Land-Sea New Corridor, enhancing connectivity across regions [2] - Successful operations at the Thailand Laem Chabang and Egypt Sokhna Red Sea ports, along with new establishments in Kazakhstan, Saudi Arabia, and Brazil, indicate deeper participation in emerging markets [2] Group 3: Supply Chain and Product Diversification - The company accelerates the construction of global supply chain resources, enriching the product matrix and building a comprehensive business system covering "full-chain products, sales, operations, and customer service" [3] - The newly launched global trucking products cover 56 countries with nearly 170,000 routes, while global rail products span 26 countries with about 2,000 routes, enhancing service diversity [3] - By 2025, the container shipping segment aims for supply chain revenue of RMB 44.888 billion, a 9.64% increase, with steady growth in digital supply chain product transaction volume [3] Group 4: Financial Performance - For the fiscal year ending December 31, 2025, the company reported revenue of RMB 2,195.04 billion, a decrease of 6.14% year-on-year, with a profit attributable to equity holders of RMB 30.86 billion, down 37.24% [4] - Basic earnings per share were RMB 1.99, with a proposed final dividend of RMB 0.44 per share [4]

中远海控 中远海控 分时图 日K线 周K线 月K线 15.83 -0.15 -0.94% 1.94% 1.31% 0.63% 0.00% 0.63% 1.31% 1.94% 15.67 15.77 15.88 15.98 16.08 16.19 16.29 09:30 10:30 11:30/13:00 14:00 15:00 0 270万 540万 809万 中远海控（601919）(01919)发布公告，建议续聘信永中和(香港)会计师事务所有限公司为本公司境外核 数师(2026年度境外核数师)及信永中和会计师事务所(特殊普通合伙)为本公司境内核数师(2026年度境内 核数师)，任期直至本公司下届股东周年会结束为止。 ...

Core Viewpoint - The company, COSCO Shipping Holdings, reported a robust performance in 2025 despite challenges in the global container shipping market, focusing on a digital supply chain operation and investment platform centered on container shipping [1][2] Financial Performance - In 2025, the company achieved a revenue of RMB 219.5 billion, with an EBIT of RMB 45.01 billion and a net profit of RMB 35.23 billion, translating to a net profit attributable to shareholders of RMB 30.87 billion [1] - The company maintained a strong profit trend in Q4, achieving a net profit attributable to shareholders of RMB 3.8 billion despite a decline in freight rates and industry cycle downturn [1] - Investment income and net financial income reached RMB 7.94 billion, contributing to a solid financial structure characterized by low debt, high cash, and stable profitability [1] Strategic Development - The company is actively adapting to the globalization and diversification of trade, enhancing integrated development in "container shipping + ports + related logistics" [2] - It is focusing on a comprehensive service capability by promoting joint ventures and strengthening the layout of key port hubs and inland logistics resources [2] - The container shipping segment generated supply chain revenue of RMB 44.89 billion, a year-on-year increase of 9.64%, becoming a new growth engine for the company [2] Future Outlook - The company aims to maintain its positioning as a global digital supply chain operation and investment platform centered on container shipping, advancing full-chain, intelligent, green, and integrated development [2] - It plans to enhance its core competitiveness in sustainable development to address market uncertainties and solidify its foundation for long-term growth [2]