人民财讯9月17日电，据贵州日报，9月16日，贵州省委书记徐麟，省委副书记、省长李炳军在贵阳会见 招商局集团有限公司党委副书记、总经理石岱一行。徐麟、李炳军说，希望招商局集团在交通物流、综 合金融、数字经济等方面进一步加大对贵州支持力度，携手促进双方合作不断迈上新台阶。石岱说，招 商局集团将持续深耕贵州，发挥自身优势、深挖合作潜力，推动双方战略合作协议落到实处，为贵州经 济社会高质量发展贡献力量。 ...

Core Viewpoint - Goldman Sachs has raised the net profit forecasts for China Merchants Port (00144) and COSCO Shipping Ports (01199) for 2025 to 2027 by 2% to 6% [1] Company Summaries - COSCO Shipping Ports is favored due to strong performance at its European terminals and improved performance at Qianhai Port, with a projected dividend yield of 5% in 2025 and a target price increase from HKD 5.3 to HKD 6, rated as "Buy" [1] - China Merchants Port's target price has been raised from HKD 13.1 to HKD 14.2, rated as "Neutral" [1] Industry Insights - Despite increased US tariffs and trade uncertainties, the container throughput at mainland ports grew by 7% year-on-year in the first half of the year [1] - Future growth projections indicate year-on-year increases of 4.6%, 2.7%, and 2.5% for 2025, 2026, and 2027 respectively, suggesting a slowdown to 2% growth in the second half of 2025 [1] - China Merchants Port anticipates a 2% price increase in contract negotiations for 2026, while other operators expect no further price hikes beyond inflation adjustments [1] - Both China Merchants Port and COSCO Shipping Ports are optimistic about contract price growth for overseas terminals due to faster throughput growth and rising costs [1]

Core Viewpoint - Goldman Sachs has raised the net profit forecasts for China Merchants Port (00144) and COSCO Shipping Ports (01199) for 2025 to 2027 by 2% to 6% [1] Group 1: Company Analysis - COSCO Shipping Ports is favored due to strong performance at its European terminals and improved performance at Qianhai Port, with a projected dividend yield of 5% in 2025 and a target price increase from HKD 5.3 to HKD 6, rated as "Buy" [1] - China Merchants Port's target price has been raised from HKD 13.1 to HKD 14.2, rated as "Neutral" [1] Group 2: Industry Outlook - Despite the backdrop of increased U.S. tariffs and trade uncertainties, the container throughput at mainland ports grew by 7% year-on-year in the first half of the year [1] - Future growth projections indicate year-on-year increases of 4.6%, 2.7%, and 2.5% for 2025, 2026, and 2027 respectively, suggesting a slowdown to 2% growth in the second half of 2025 [1] - China Merchants Port anticipates a 2% price increase in contract negotiations for 2026, while other operators expect no further price hikes beyond inflation adjustments [1] - Both China Merchants Port and COSCO Shipping Ports are optimistic about contract price growth for overseas terminals due to faster throughput growth and rising costs [1]

Core Viewpoint - Despite the increase in US tariffs and trade uncertainties, the container throughput at mainland ports grew by 7% year-on-year in the first half of the year [1] Group 1: Future Growth Projections - Goldman Sachs forecasts annual growth rates for container throughput of 4.6%, 2.7%, and 2.5% for the years 2025, 2026, and 2027 respectively, indicating a slowdown to 2% in the second half of 2025 [1] Group 2: Pricing and Contract Negotiations - China Merchants Port aims to increase contract prices by 2% in negotiations for 2026, while other operators expect no further price hikes beyond inflation adjustments [1] - Both China Merchants Port and COSCO Shipping Ports are optimistic about contract price growth for overseas terminals due to faster throughput growth and rising costs [1] Group 3: Profit Forecasts and Stock Ratings - Goldman Sachs raised net profit forecasts for China Merchants Port and COSCO Shipping Ports by 2% to 6% for the years 2025 to 2027 [1] - COSCO Shipping Ports is favored due to strong performance at European terminals and improved performance at Qianhai Port, with an expected dividend yield of 5% in 2025; target price increased from HKD 5.3 to HKD 6, rated "Buy" [1] - Target price for China Merchants Port increased from HKD 13.1 to HKD 14.2, rated "Neutral" [1]

（原标题：招商局在上海成立物流科技公司 ，注册资本10亿元） 企查查APP显示，中数联物流科技（上海）有限公司成立，法定代表人为张雄，注册资本为10亿元，经 营范围包含：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广。股权穿透显示，该公 司由中国数联物流信息有限公司直接投资，由招商局集团有限公司100%持股。 ...

安通控股公告，持股5%以上股东中外运集装箱运输有限公司（中外运集运）与招商局港口集团股份有 限公司、国新证券股份有限公司（代表"国新股票宝33号集合资产管理计划"）签署了股份转让协议。招 商港口和国新证券分别将其持有的安通控股3900万股和1.78亿股无限售流通股转让给中外运集运。本次 协议转让过户数量为2.17亿股，占公司股份总数的5.14%，股份性质为无限售流通股。过户日期为2025 年9月10日。本次协议转让不触及要约收购，不会导致公司实际控制人发生变化。 ...

该行指出，招商局港口具吸引力，2025年预测市盈率为8.5倍，企业价值/调整后EBITDA为7.4倍，预测 2025至2027年股息收益率为5.5%至6.2%，自由现金流收益率约为11%至12%。公司稳健的自由现金流、 稳健的派息政策及盈利状况，支撑其防守型吸引力，而多元化的投资组合及积极的成本管理进一步提供 支持。 摩根大通发表研究报告指，更新对招商局港口的模型，以反映最新业绩、管理层指引及近期营运趋势， 目标价从17港元上调至18港元，维持"增持"评级。 ...

Core Viewpoint - Morgan Stanley has raised the target price for China Merchants Port (00144) by 5.9%, from HKD 17 to HKD 18, while maintaining an "Overweight" rating [1] Summary by Relevant Sections - **Target Price Adjustment** - The target price for China Merchants Port has been increased to HKD 18, reflecting a 5.9% rise from the previous target of HKD 17 [1] - **Performance and Management Guidance** - The update is based on the latest performance of China Merchants Port, management guidance, and recent operational trends [1] - **Investment Value and Returns** - The company continues to offer satisfactory investment value, with expected dividend yields of 5.5-6.2% for 2025-2027 and free cash flow yields of 11-12% [1] - **Financial Strength and Defensive Appeal** - Strong free cash flow, a disciplined dividend policy, and robust earnings highlight the company's defensive attractiveness [1] - **Supportive Factors** - A diversified investment portfolio and proactive cost management provide further support for the company's outlook [1]

Core Viewpoint - Morgan Stanley has raised the target price for China Merchants Port (00144) by 5.9%, from HKD 17 to HKD 18, while maintaining an "Overweight" rating, indicating a positive outlook for the company based on its recent performance and management guidance [1] Financial Performance - The company is expected to deliver a dividend yield of 5.5-6.2% from 2025 to 2027, alongside a free cash flow yield of 11-12%, showcasing its strong financial health [1] Investment Appeal - China Merchants Port's robust free cash flow, disciplined dividend policy, and strong earnings highlight its defensive attractiveness, making it a compelling investment opportunity [1] Operational Strength - The company's diversified investment portfolio and proactive cost management further support its operational strength and growth potential [1]

人民财讯9月11日电，企查查APP显示，中数联物流科技(上海)有限公司成立，法定代表人为张雄，注册 资本为10亿元，经营范围包含：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广。企 查查股权穿透显示，该公司由招商局集团有限公司间接全资持股。 ...