HK Stock Market Move | CKH Holdings (00001) fell nearly 3%, Panama government takes "forced take-over" action on two ports.

CKH HOLDINGS (00001) fell nearly 3%, as of the time of publication, it has fallen by 2.8% to 62.45 Hong Kong dollars, with a turnover of 425 million Hong Kong dollars. On the news front, on February 24, CKH HOLDINGS published a statement on its official website, disclosing that the Panamanian government took "forced seizure" actions on the 23rd local time, sending personnel to enter the Balboa Port and Cristobal Port operated by its subsidiary Panama Ports Company, taking full control of administration and operations, and prohibiting company representatives from entering. CKH HOLDINGS reiterated that this action is illegal and stated that they will pursue legal means to the end. On January 30, according to reports, the Supreme Court of Panama ruled that the Hong Kong-based CKH HOLDINGS group's holding of port operating rights at both ends of the Panama Canal is unconstitutional. On the same day, a spokesperson for the Ministry of Foreign Affairs stated that the relevant company had issued a statement immediately, stating that the ruling is contrary to Panamanian laws approving the relevant concession rights, and that the company will retain all rights, including legal proceedings. China will resolutely defend the legitimate rights and interests of Chinese enterprises.