另外，海空运输的溢出效应正持续扩大，随着货主为规避海运瓶颈而转向空运，国泰与新加坡航空等航 司凭借审慎的燃油避险策略、成熟的航线网络管理，以及香港/中国内地航司独有的俄罗斯领空通行 权，最能把握新增需求。 摩根大通发布研报称，中东冲突升级，伊朗关闭霍尔木兹海峡下，亚洲运输与工业生态系统正因地缘政 治冲击、监管收紧及贸易流向转变的交汇而经历根本性重塑。在集装箱航运领域，该行青睐中远海运 (01919)、东方海外国际(00316)及长荣海运(2603.TT)，因看好全球规模与网络灵活性。航空公司方面， 摩通对国泰航空(00293)及新加坡航空予"增持"评级。 该行指，在集装箱运输、油轮、散货运输、港口、供应链、国防及航空领域，具备规模优势、灵活性与 战略布局的企业正把握上行机遇。集装箱运输与区域内营运商正凭借其网络覆盖与定价能力获益，而油 轮及散货运输则受益于供应紧缩与严谨的资本配置策略。港口与供应链龙头正从航线改道与仓储收入中 获益，国防产业则因全球战略重心转移而迎来结构性上行周期。 ...

集团正向其蒙古税务和法律顾问索取意见，包括进行独立评估。根据适用的蒙古法律，如果MoEnCo不 同意，MoEnCo有权于重新评税法令收到之日起计30天内向税务争议解决委员会提出上诉。除法律途径 外，集团亦将尽力与税务局进行建设性对话，以寻求双方均可接受的友善解决方案。 此外，2026年2月27日，MoEnCo收到税务局日期为2026年2月10日的评税和缴纳税款通知书(重新评税法 令)，要求MoEnCo缴付2021年至2023年税务期间的补加税和罚款。重新评税法令总额为5122亿蒙古图格 里克(约11.2亿港元)。 蒙古能源(00276)发布公告，有关蒙古税务争议，特别是蒙古行政法院审理MoEnCo就税务局国家税务调 查员发出日期为2024年5月7日重新评税法令号NA-362400000003提出的申索。2026年2月24日，MoEnCo 收到关于其申索的该法院书面判决。书面判决与2026年1月该法院作出的口头判决一致，如先前一月公 告所述，判决结果对税务局有利和撤销MoEnCo的申索。MoEnCo有权于收到书面判决之日期起计十四 天内就判决提出上诉(即于2026年3月10日或之前)。集团正索取法律意见并准备对 ...

Core Viewpoint - The report from JPMorgan highlights that the escalation of the Middle East conflict and the closure of the Strait of Hormuz are fundamentally reshaping the Asian transportation and industrial ecosystem due to geopolitical shocks, tightening regulations, and shifts in trade flows [1] Group 1: Container Shipping - JPMorgan favors COSCO Shipping (01919), Orient Overseas International (00316), and Evergreen Marine (2603.TT) in the container shipping sector due to their global scale and network flexibility [1] - Container shipping operators are benefiting from their network coverage and pricing power amid the ongoing geopolitical tensions [1] Group 2: Airlines - JPMorgan has assigned an "overweight" rating to Cathay Pacific (00293) and Singapore Airlines, indicating a positive outlook for these companies [1] - The airline sector is expected to capitalize on increased demand as shippers shift from sea to air transport to avoid bottlenecks, with Cathay and Singapore Airlines leveraging their fuel hedging strategies and established route management [1] Group 3: Broader Transportation and Supply Chain - Companies with scale advantages, flexibility, and strategic positioning in container shipping, tankers, bulk shipping, ports, supply chains, defense, and aviation are poised to seize upward opportunities [1] - Port and supply chain leaders are benefiting from changes in shipping routes and increased warehousing revenues [1] Group 4: Defense Industry - The defense sector is entering a structural upcycle due to the global shift in strategic focus, presenting new opportunities for growth [1]

Group 1 - The core issue revolves around a tax dispute involving MoEnCo, with the Mongolian Administrative Court ruling in favor of the tax authority, dismissing MoEnCo's claims [1] - MoEnCo has received a written judgment from the court on February 24, 2026, which aligns with a previous oral ruling from January 2026, confirming the tax authority's position [1] - MoEnCo is entitled to appeal the judgment within fourteen days from the date of receiving the written ruling, which is by March 10, 2026 [1] Group 2 - On February 27, 2026, MoEnCo received a tax assessment notice from the tax authority, requiring payment of additional taxes and penalties totaling 512.2 billion Mongolian Tugrik (approximately 1.12 billion HKD) for the tax periods from 2021 to 2023 [1] - The company is seeking legal advice and preparing to appeal the judgment to the Mongolian Supreme Court [2] - MoEnCo has the option to appeal to the Tax Dispute Resolution Committee within 30 days of receiving the reassessment notice if it disagrees with the tax authority's decision [2]

吉利汽车(00175)发布公告，于2026年3月3日，该公司斥资6757.37万港元回购436.3万股。 ...

Core Viewpoint - The approval of the new indication for Pyrotinib (brand name: XuanYueNing) for first-line treatment of HR+/HER2- advanced breast cancer significantly enhances its clinical value and accessibility, supporting future sales growth for the company [1]. Company Summary - Four Seasons Pharmaceutical (00460) announced that its subsidiary, XuanZhu Biotechnology Co., Ltd., received approval from the National Medical Products Administration (NMPA) for the new indication of Pyrotinib in combination with aromatase inhibitors for first-line treatment of HR+/HER2- advanced breast cancer [1]. - This marks the third approved indication for Pyrotinib in China, making it the first and only drug in the country to cover the entire treatment course for HR+/HER2- advanced breast cancer across first, second, and later lines [1]. Industry Summary - Breast cancer is the most commonly diagnosed malignant tumor among women globally, with new cases in China projected to rise from 322,200 in 2018 to 374,700 in 2024, and expected to reach 435,000 by 2032 [2]. - HR+/HER2- breast cancer is the most prevalent subtype in China, accounting for approximately 75% of total cases, with about 30% of these patients diagnosed with advanced breast cancer [2]. - The market for CDK4/6 inhibitors combined with endocrine therapy for HR+/HER2- advanced breast cancer in China is expected to reach RMB 13 billion by 2032 [2]. Clinical Research Summary - The approval of the new indication is based on data from the BRIGHT-3 study (NCT05257395), a randomized, double-blind Phase III clinical trial conducted at 58 centers in China [3]. - The study aimed to evaluate the efficacy and safety of Pyrotinib in combination with Letrozole or Anastrozole for first-line treatment of HR+/HER2- advanced breast cancer [3]. - Results indicated that the median progression-free survival (mPFS) for the Pyrotinib group has not yet been reached, while the control group reported mPFS of 18.43 months and 19.55 months, suggesting a durable efficacy advantage for Pyrotinib [3]. - The Pyrotinib regimen reduced the risk of disease progression or death by 47% compared to the placebo combined with endocrine therapy, with a notable 64% reduction in patients with liver metastases [3]. - The overall response rate (ORR) in the intention-to-treat population for the Pyrotinib group was 63.5%, significantly higher than the control group's 42.5% [3]. - Common adverse events associated with the Pyrotinib regimen were mostly grade 1-2 and manageable through supportive care or dose adjustments, indicating an overall controllable safety profile [3].

Group 1 - The core point of the article is that Geely Automobile announced a share buyback plan, intending to repurchase 4.363 million shares at a cost of HKD 67.5737 million [1] - The buyback will occur on March 3, 2026, with a price range of HKD 15.35 to HKD 15.80 per share [1]

Core Viewpoint - Geely Automobile (00175) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1 - The company will repurchase 4.363 million shares at a total cost of HKD 67.5737 million [1] - The buyback is scheduled to take place on March 3, 2026, suggesting a strategic long-term investment approach [1]

渣打集团(02888)发布公告，于2026年3月2日斥资1402.23万英镑回购80.9万股。 ...

本次新适应症的获批主要基于BRIGHT-3研究(NCT05257395)的数据结果。BRIGHT-3研究是一项在中国 58家中心开展的随机、双盲的III期临床试验，旨在评估吡洛西利联合来曲唑或阿那曲唑一线治疗 HR+/HER2-晚期乳腺癌的有效性和安全性。此前，BRIGHT-3的研究成果在2025年欧洲肿瘤内科学会 (2025年ESMO)首次发表。结果显示，在疗效方面，吡洛西利组由研究者和独立评审委员会评估的mPFS 均暂未达到，对照组分别为18.43个月和19.55个月。mPFS尚未达到，提示吡洛西利组有更多患者仍未发 生疾病进展，反映出其持久的疗效优势。与安慰剂联合内分泌治疗相比，吡洛西利方案可降低47%的疾 病进展或死亡风险，且尤其在预后较差的肝转移患者中，疾病进展或死亡风险大幅降低64%，显示出其 在难治人群中的突出潜力。在意向治疗人群中，吡洛西利组的ORR达63.5%，显著优于对照组的42.5%; 安全性方面，吡洛西利联合方案常见不良事件(如腹泻、中性粒细胞减少等)多为1–2级，可通过支持治 疗或剂量调整得以有效管理，整体安全性可控。 乳腺癌是全球女性最常见被诊断出的恶性肿瘤，灼识咨询报告显示，中国 ...