Core Viewpoint - Recently, Haifeng International Holdings (01308) announced the exercise of an option to order two additional 2,700 TEU feeder container ships from Huang Hai Shipbuilding Co., increasing its total order for this type of vessel to eight [1][5]. Group 1: Order Details - The two newly ordered vessels have a total price of $76.36 million, maintaining the same unit price as previous orders [3][8]. - Initially, Haifeng International announced an order for four similar vessels in August 2023, with a total contract value of $152.7 million [3][8]. - The company has exercised options to order two additional vessels on October 31, 2025, and January 30, 2026 [3][8]. Group 2: Delivery Schedule - The delivery schedule for the new vessels is as follows: - The fifth contract's vessels are expected to be delivered by September 30, 2028, or earlier - The sixth contract's vessels are expected to be delivered by November 30, 2028, or earlier - The seventh contract's vessels are also expected to be delivered by November 30, 2028, or earlier - The eighth contract's vessels are expected to be delivered by March 31, 2029, or earlier [6][10]. Group 3: Fleet Expansion and Market Position - The new ship orders aim to expand Haifeng International's fleet to meet the growing operational demands of the group and to strengthen its leading position in the Asian shipping market [3][8]. - According to Alphaliner, Haifeng International operates a total of 120 container ships, with 100 of them being owned vessels [9].

Core Viewpoint - The Invesco Great Wall Hong Kong Stock Connect Dividend Low Volatility ETF (159569) experienced a decline of 2.81% on February 2, 2024, with a trading volume of 56.36 million yuan [1] Fund Overview - The fund was established on August 14, 2024, with an annual management fee of 0.50% and a custody fee of 0.08% [1] - As of January 30, 2025, the fund had 343 million shares outstanding and a total size of 478 million yuan, showing a 1.72% decrease in shares and a 2.60% increase in size compared to December 31, 2024 [1] Liquidity Analysis - Over the last 20 trading days, the ETF recorded a cumulative trading amount of 690 million yuan, with an average daily trading amount of 34.49 million yuan [1] - Since the beginning of the year, the ETF has seen a cumulative trading amount of 726 million yuan over 21 trading days, with an average daily trading amount of 34.58 million yuan [1] Fund Management - The current fund managers are Gong Lili and Wang Yang, with Gong managing the fund since August 29, 2024, achieving a return of 45.41%, while Wang has managed it since August 13, 2025, with a return of 3.51% [2] Top Holdings - The ETF's top holdings include: - China COSCO Shipping (8.86% of holdings) - Orient Overseas International (7.48%) - Yanzhou Coal Mining (5.65%) - Seaspan Corporation (4.52%) - Yancoal Australia (4.46%) - WH Group (3.76%) - China Shenhua Energy (3.63%) - Far East Horizon (3.39%) - CNOOC (3.27%) - Sinopec (3.26%) [2][3]

Core Viewpoint - SeaFeast International (01308) has issued a positive earnings forecast for 2025, expecting a net profit of $1.2 billion to $1.23 billion, which represents a year-on-year increase of 16% to 18.9% compared to the previous year [1] Group 1: Company Performance - The company's preliminary earnings for 2025 slightly exceed market consensus, which was set at $1.19 billion [1] - The stock price of SeaFeast International has seen a decline of nearly 3%, currently trading at HKD 4.46 with a trading volume of 25.1648 million HKD [1] Group 2: Market Dynamics - Morgan Stanley indicates that while the company's performance is slightly above expectations, the market's reaction to last year's earnings is expected to be limited [1] - There are upward risks to demand resilience in the Asian region due to supply chain shifts and geopolitical dynamics, while the global container shipping industry continues to face a downward cycle [1] - A significant deterioration in trade between China and Japan could pose risks to SeaFeast International due to its relatively high exposure to Japanese routes [1]

Group 1 - The core viewpoint of the article is that SeaFeast International (01308) has issued a positive earnings forecast for 2025, with expected net profit ranging from $1.2 billion to $1.23 billion, reflecting a year-on-year increase of 16% to 18.9% [1] - Morgan Stanley noted that the company's performance slightly exceeds market consensus, which was $1.19 billion, but anticipates limited market reaction to last year's earnings [1] - The firm highlighted potential upward risks in demand resilience within the Asian region due to supply chain shifts and geopolitical dynamics, while also pointing out the ongoing downward cycle in the global container shipping industry as a risk factor [1] Group 2 - SeaFeast International faces risks related to its exposure to Japanese routes, particularly if trade relations between China and Japan deteriorate significantly [1]

Core Viewpoint - SITC International Holdings Co., Ltd. announced that its wholly-owned subsidiary, SITC Shipowning Group Company Limited, exercised options under the seventh and eighth shipbuilding contracts with Huang Hai Shipbuilding Co., Ltd. to construct two vessels for a maximum total price of USD 76.36 million (equivalent to HKD 599 million), subject to the final specifications of the vessels [1] Group 1 - The shipbuilding contracts will allow the company to expand its owned container fleet to meet the growing operational demands [1] - The price of the vessels is determined based on fair negotiations referencing the market price for constructing similar-sized new vessels, ensuring that the terms of the shipbuilding are fair and reasonable [1] - The board believes that the shipbuilding terms align with the overall interests of the company and its shareholders [1]

Core Viewpoint - The company, SITC International Holdings Company Limited, announced the exercise of options to build two vessels under contracts with Huang Hai Shipbuilding Co., Ltd, with a maximum total cost of USD 76.36 million (equivalent to HKD 599 million), depending on the final specifications of the vessels [1] Group 1: Contract Details - The contracts involve the construction of two vessels, which will expand the company's owned container fleet to meet the growing operational demands [1] - The price of the vessels is determined based on fair negotiations referencing the market price for similar-sized new vessels [1] Group 2: Management Perspective - The board of directors believes that the terms of the vessel construction are fair and reasonable, aligning with the overall interests of the company and its shareholders [1]

格隆汇1月30日丨海丰国际(01308.HK)公布，于2026年1月30日，海丰船东行使与造船商所订立第七份造 船合约及第八份造船合约项下建造两艘船舶的期权，最高总代价为7636万美元，惟视乎船舶的最终规格 而定。 ...

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，概不對因本公告全部或任何部份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。 SITC International Holdings Company Limited 1308 須予披露交易 建造集裝箱船舶 建造集裝箱船舶 於二零二六年一月三十日，海豐船東行使與造船商所訂立第七份造船合約及 第八份造船合約項下建造兩艘船舶的期權，最高總代價為76,360,000美元 （相等於599,426,000港元），惟視乎船舶的最終規格而定。 上市規則的涵義 由於根據上市規則第14.07條，根據第七份造船合約及第八份造船合約建造 兩艘船舶，若與根據第五份造船合約及第六份造船合約建造兩艘船舶合併計 算，相關最高適用百分比率高於5%但低於25%，故根據第七份造船合約及 第八份造船合約建造兩艘船舶構成本公司一項須予披露交易，並須遵守上市 規則第十四章的申報及公告規定。 建造集裝箱船舶 於二零二五年八月二日，海豐船東與造船商訂立造船合約，據此，造船商已授 予海豐船東建造合共四艘船舶的期權。 — 1 — ...

供应链去中心化支撑需求、运力结构性短缺利好亚洲支线市场。受益于区域经济发展、RCEP 协定深化 成员国贸易协同及产业链向东南亚、拉美等第三国/地区转移等多重利好，非干线贸易增速表现突出， 亚洲区域内海运贸易需求有望持续增长。此外，集运大小船型运力增速出现结构性分化，大量新造船订 单主要集中在8k+TEU船型，3kTEU 以下小型船舶受制于新船有限与船龄有限，其2026/27 年运力增速 预计仅为+0.5%/-0.7%。公司从2020 年以来，接连订造新船，增强船队竞争优势。公司在2025 年多次下 单新造船，使公司手持订单增至14 艘，总计2.88 万TEU，占公司运营船队的15.3%，保证了公司船队与 业务规模的未来成长性。 公司特别派息凸显红利属性。根据2025 年12 月18 日公告，公司宣派特别股息每股0.70 港元（相当于每 股0.09 美元），继2024 年之后连续第二年特别派息。公司2021 年股息支付率达94.89%后，2022/23 年 保持在71%左右，2024 年在特别分红支持下提升至85.35%。 盈利预测与评级：假设红海绕行持续，预计公司2025-2027 年归母净利润分别为12.0 ...

Group 1: New Consumption - Ruoyuchen (003010.SZ) - The company expects a net profit attributable to shareholders of 176 million to 200 million yuan for 2025, representing a year-on-year growth of 66.61%-89.33% [2][5] - The significant growth in performance is primarily driven by rapid revenue growth from proprietary brands, high performance in brand management, and effective cost reduction strategies [6][7] - The company has established a competitive advantage in various categories such as health products, maternal and infant care, beauty and personal care, and food and beverages, with plans to continue expanding its proprietary brand portfolio [6][7] Group 2: Transportation - Haifeng International (01308.HK) - The company anticipates a net profit attributable to shareholders of 1.2 to 1.23 billion USD for 2025, reflecting a year-on-year increase of approximately 16%-18.9% [9][12] - The company has built a differentiated advantage through a high-frequency, point-to-point direct shipping network, which supports performance growth amid stable demand for container trade in Asia [9][10] - The expected container volume for 2025 is approximately 3.85 million TEU, with an average revenue per container of about 753.0 USD/TEU, indicating a year-on-year increase of approximately 4.4% [9][10] Group 3: Transportation - Southern Airlines (600029.SH) - The company is expected to have a fleet size of 972 aircraft by the end of 2025, maintaining a high passenger load factor of 85.7%, which is an increase of 1.36 percentage points year-on-year [13][14] - The focus on international routes is expected to drive an 18.5% year-on-year growth in international available seat kilometers (ASK), leading to potential market share expansion [13][14] - The company has shown continuous improvement in operations, with a projected passenger volume of 174 million for 2025, representing a year-on-year growth of 5.5% [14][15]