<h2>Panama Supreme Court Ruling Released, CKH Holdings' Port Concession Rights Revoked and Taken Over by APM</h2>
<p>The official gazette of Panama published the Supreme Court ruling, revoking the concession contracts held by CKH Holdings (0001.HK) for the Balboa and Cristobal ports, paving the way for APM, a subsidiary of Maersk, to temporarily take over. The Panama Maritime Authority (AMP) has taken over the two ports through a decree to ensure operations and is currently submitting two independent contracts to the board of the Panama Maritime Authority, targeting the two involved ports.</p>
<h2>ADD NEW ENERGY Spends HKD 218 Million to Acquire Nearly 10% Stake in Australian Gold Producer</h2>
<p>ADD NEW ENERGY (2623.HK) has spent AUD 39.5 million, equivalent to approximately HKD 218 million, to acquire nearly a 10% stake in an Australian listed gold producer. This corresponds to a price of AUD 1.08 per share for the Australian company, which is a 12.6% discount to its last closing price on the 16th of this month. The acquisition funds will come from an unsecured, interest-free loan from a controlling shareholder with no fixed repayment period, as well as proceeds from a proposed rights issue conducted last month.</p>
<h2>Starry Holdings Issues Profit Warning, Mid-term Loss Narrows to HKD 12 Million to HKD 18 Million</h2>
<p>Starry Holdings (1166.HK) has issued a profit warning, expecting a loss of between HKD 12 million and HKD 18 million for the six months ending at the end of the year, narrowing from a loss of HKD 26.22 million in the same period last year. The board believes that despite a decline in revenue and gross profit during the period, an increase in credit loss provisions and deferred tax expenses are anticipated, but the group's administrative expenses have decreased, along with losses in the fair value of investment properties and reduced financing costs.</p>
<h2>China State Construction Industry Expects Significant Drop in Annual Net Profit Due to Market Cycle and Rising Project Costs</h2>
<p>China State Construction Industry (0830.HK) has issued a profit warning, expecting a net profit of HKD 237 million for the year ending last December, compared to a profit of HKD 650 million in the same period last year. The decrease in profit is attributed to the impact of the real estate market and economic cycle, with a reduction in new engineering volumes and declining revenues. Major projects in Hong Kong and Macau were completed in the previous two fiscal years, resulting in lower revenues for the fiscal year 2025. The competition for new project costs is fierce, and some projects have not achieved the expected profits due to various reasons, including delays in the preliminary preparation phase, extended construction periods, or increased changes, leading to rising project costs</p>

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<p>The Panama Supreme Court ruled to revoke the concession rights of CKH Holdings' ports, with APM taking over management. ADD NEW ENERGY acquired nearly 10% equity in an Australian gold producer for HKD 218 million. Xingkai Holdings expects its interim losses to narrow to HKD 12 million to HKD 18 million. China State Construction Industry issued a profit warning, expecting its annual net profit to plummet to HKD 237 million</p>

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[Daily Announcement] Panama cancels CKH HOLDINGS (1) subsidiary's port concession, ADD NEW ENERGY (2623) spends HKD 218 million to acquire equity in Australian gold producer