据《财经》2025年4月刊发的相关报道，当时PPC方面曾就长和续签港口合约违规进行回应称，2005年 PPC与巴拿马自愿签订了特许经营合约的附加协议。在接管后，PPC已投资超过16.95亿巴波亚币（当地 货币），这一数额超过原本特许经营合约要求的5000万巴波亚币投资金额，也超过附加协议中的10亿巴 波亚币投资金额。相关投资于2020年获巴拿马共和国总审计长在历时约四个月的彻底审计后确认。 PPC还透露：截至2025年4月，其是巴拿马共和国唯一一家当地政府持有股份的港口公司（10%股 权）。在过往的28年中，其向巴拿马共和国支付共1.26亿巴波亚币的股息；在特许经营期间，巴拿马港 口公司向巴拿马共和国缴纳了6.68亿巴波亚币。（财经杂志） 【#长和告诫第三方勿与巴拿马串通不合法行动#】2月12日晚间，长江和记实业有限公司（0001.HK， 下称"长和"）发布相关新闻稿件称，已根据投资保护条约就相关争议事项通知巴拿马共和国，并向第三 方提出告诫。 当地时间1月29日，巴拿马最高法院公布相关裁定，称由长和旗下巴拿马港口公司（下称PPC）营运的 当地运河附近两个港口的合约"违宪"。 1997年1月16日，根据巴拿马 ...

于2026年2月3日，PPC已展开并将根据适用特许经营合约及国际商会的仲裁规则，积极果断对巴拿马共 和国进行仲裁。 董事会对巴拿马的裁定及相应行动表示强烈反对，本集团继续咨询其法律顾问，并保留一切权利，包括 就该事宜诉诸进一步国内及国际法律程序。 长和(00001)发布公告，董事会知悉巴拿马共和国司法部于2026年1月29日发表声明，表示巴拿马最高法 院已决定宣告1997年1月16日第5号法律、其修订及延展法案违宪。1997年1月16日第5号法律为巴拿马相 关法律，有关法律批准巴拿马港口公司(PPC，为公司间接持有90%权益的附属公司)于巴拿马巴尔博亚 港及克里斯托瓦尔港已营运接近30年的特许经营合约。据PPC理解，巴拿马最高法院的决定可能于2026 年2月初生效。 PPC已获得意见，指巴拿马最高法院所宣布的决定，以及巴拿马政府就PPC于该两个港口的码头营运所 采取的相应行动，与相关法律框架，以及批准该特许经营合约的法律并不一致。 ...

Core Viewpoint - Morgan Stanley believes that Cheung Kong is entering a phase of moderate profit recovery, projecting a compound annual growth rate of 4% over the next three years, maintaining an "overweight" rating with a target price of HKD 68 [1] Group 1: Financial Performance - The stock price fell by 4.6% on the previous Friday due to the Panama Supreme Court ruling that declared Cheung Kong's port concession in Panama unconstitutional [1] - The two Panama ports contribute less than 1% to Cheung Kong's EBITDA, indicating limited impact from the ruling [1] Group 2: Strategic Implications - The ruling is seen as politically sensitive but may facilitate consensus among various stakeholders, including Blackstone and the US and Chinese governments, regarding the global port sale plan valued at HKD 110 billion [1] - The potential exit of Panama from the port sale may lead to a different structure for the sale, possibly involving multiple buyers instead of a single consortium [1] Group 3: Value Release Strategies - Cheung Kong is exploring other avenues to unlock value, including potential retail business spin-offs and the listing of its telecommunications business [1]

Core Viewpoint - Morgan Stanley believes that Cheung Kong is entering a mild profit recovery phase, projecting a compound annual growth rate of 4% over the next three years, maintaining an "overweight" rating with a target price of HKD 68 [1] Group 1: Financial Performance - The stock price fell by 4.6% on the previous Friday due to a ruling by the Panama Supreme Court declaring Cheung Kong's port concession in Panama unconstitutional [1] - The two ports in question contribute less than 1% to Cheung Kong's EBITDA, indicating limited impact on overall financial performance [1] Group 2: Strategic Implications - Despite the negative headline, the ruling is not expected to jeopardize the HKD 110 billion global port sale plan, as these ports are politically sensitive [1] - The potential exit of Panama from the plan may facilitate consensus among various stakeholders, including Blackstone and the US and Chinese governments, although the final structure or scale may differ from the original plan [1] - Cheung Kong is exploring other avenues to unlock value, including a potential retail business spin-off and a listing of its telecommunications business [1]

每日怡见 . 以下文章来源于每日怡见 ，作者每日怡见 关注 国际、财经、社会 作者： 每日怡见 来源： 每日怡见 ----------------------------- 1月29日，巴拿马最高法院宣布， 长江和记公司持有的巴拿马运河两岸港口特许经营权合约无效， 属于"违宪"。 简单的说，就是长和在1996年竞标获胜，2021年续签的巴拿马运河两个关键港口的 特许经营权合 同被判决无效。 巴拿马政府马上要把这两个关键港口的运营权收回去。 这也就意味着长和原本想把包括这两个港口在内的43个港口打包出售给美国贝莱德财团的计划，也 将宣告破产。 看上去这是冲着美国人去的，可实际上呢，你抽丝剥茧，会发现这份判决完全就是冲着我们来的。 咱们把时间线给梳理一下。 这件事的起因是在去年3月份，长和突然出来宣布要将分布在全球23个国家的43个港口卖给美国的 贝莱德财团。 这其中就包括了位于巴拿马运河的两个关键港口。 在这件事情发生之后，我们表示了高度关注。 因为在海运时代，每一处港口，不仅关系着供应链的稳定和国际贸易的通畅，在大国竞争背景下， 港口网络的布局与运营能力，更是会直接影响国家在全球价值链中的地位和地缘博弈的主动 ...

Group 1 - The Hong Kong Special Administrative Region government expressed strong dissatisfaction and firm opposition to the Panama Supreme Court's ruling that declared the contract for the operation of two ports by Hutchison Port Holdings in Panama unconstitutional [1] - The government emphasized that any foreign government using coercion or unreasonable means in international economic and trade relations severely undermines the legitimate operating rights of Hong Kong enterprises in the region, which could damage the local business environment and investor confidence [1] - The Hong Kong government reiterated that the Panama government should respect the spirit of contracts and provide a fair and just business environment for legally operating enterprises, ensuring that their legitimate rights are not interfered with [1] Group 2 - A spokesperson indicated that, given the current situation in Panama, Hong Kong enterprises should carefully assess their current and future investments in the region [2] - The Panama Supreme Court recently ruled that the concession agreement for the ports held by Cheung Kong Holdings is invalid, prompting a response from the Chinese Ministry of Foreign Affairs, which stated that the companies would reserve all rights, including legal recourse [3] - The Ministry of Foreign Affairs affirmed that necessary measures would be taken to firmly protect the legitimate rights and interests of Chinese enterprises [3]

特区政府重申，巴拿马政府应尊重合约精神，为当地依法营运的企业提供公平、公正的营商环境，确保企业的合法权益不受干预。香港企业在巴拿马经营 和投资，应获公平合理的待遇和保障。 政府发言人表示，特区政府强烈反对任何外国政府在国际经贸关系中使用胁迫、施压或其他不合理的手段，严重损害香港企业在当地的合法经营权益。这 亦会严重损害当地营商环境，势必动摇投资者信心，并损害双边关系和两地长远经济发展。 发言人说："基于现时巴拿马的情况，香港企业应认真审视其现时及未来在当地的投资。" 据香港特别行政区政府新闻公报昨日(30日)消息，就巴拿马最高法院裁定巴拿马政府与和记港口巴拿马港口公司续约经营的两个巴拿马港口违宪一事，香 港特别行政区(特区)政府表示强烈不满及坚决反对。 据外交部官网消息，1月30日，外交部发言人郭嘉昆主持例行记者会。 南都此前报道，2025年3月，李嘉诚家族旗下的长江和记实业有限公司宣布拟出售巴拿马等全球43个港口后，李嘉诚以及长和系一众上市公司处于风口浪 尖上。公司多次发布声明回应，2025年7月，长和强调，公司已多次声明，在未获得所有相关监管机构和部门批准前将不会进行任何交易。 南方都市报(nddaily ...

Core Viewpoint - The Hong Kong government expresses strong dissatisfaction and firm opposition to the Panama Supreme Court's ruling that annulled the port concession contract with Cheung Kong Holdings, urging Hong Kong enterprises to carefully consider their investments in Panama [1] Group 1: Government Response - The Hong Kong government condemns the use of coercion or unreasonable means by foreign governments in international economic relations, which severely undermines the legitimate business rights of Hong Kong enterprises in Panama [1] - The government emphasizes that the Panama government should respect the spirit of contracts and provide a fair and just business environment for legally operating enterprises [1] Group 2: Impact on Businesses - The ruling is expected to significantly damage the local business environment, investor confidence, and bilateral relations, ultimately affecting long-term economic development [1] - Hong Kong enterprises operating in Panama should receive fair and reasonable treatment and protection [1] Group 3: Legal Actions - A spokesperson from the Chinese Foreign Ministry stated that the affected company has expressed that the ruling contradicts the legal approval of the concession rights by Panama and will reserve all rights, including legal recourse [1] - The Chinese side will take all necessary measures to firmly safeguard the legitimate rights and interests of Chinese enterprises [1]

据财经杂志报道，贸易战的升级正在使长和出售巴拿马运河等海外港口业务的复杂程度上升。巴拿马则在4月7日有所动 作。巴拿马审计长办公室表示，在审计长和旗下子公司于巴拿马运河港口特许经营合约时，发现存在多项违规行为，将 对授权续签港口特许经营权的官员提出诉讼。 贝莱德集团（资料图） 据媒体此前报道，长和发布公告，宣布与贝莱德-TiL财团达成原则性协议，拟向该财团出售旗下和记港口集团非中国资 产，其中涉及巴拿马港口公司90%股权。此外，交易还涉及长江和记在其附属公司与相关公司持有的80%有效控制权益， 包括位于23个国家的43个港口拥有、营运、发展的共199个泊位，连同所有和记港口集团的管理资源、营运业务、货柜码 头系统、资讯科技及其他系统，以及其他涉及用于控制和营运有关港口的资产。据公布，此次整体出售总企业价值为228 亿美元。 日前，美国国防部长赫格塞思在访问巴拿马时继续向这个中美洲国家施压，并宣称美国将从"中国影响力"下夺回巴拿马 运河。赫格塞思在与巴拿马政府官员会谈后，承诺深化与巴拿马部队的安全合作，声称不会允许中国利用商业关系通过 中企来将运河"武器化"。赫格塞思在巴拿马城一个由美国援助翻新的码头发表讲话时 ...