股东会议事规则 （尚需经公司股东会决议修改） 第一章 总 则 第一条 为规范公司行为，保证公司股东会依法行使职权，根据《中华人民共和国 公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证 券法》"）、《上市公司股东会规则》《上市公司治理准则》、上海证券交易所和香港 联交所的上市规则及本公司《公司章程》等有关规定，制定本规则。 第二条 公司股东会的召集、提案、通知、召开等事项适用本规则。 第三条 公司应当严格按照法律、行政法规、本规则及《公司章程》的相关规定召 开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责、认真、按时组织股东会。公司全体董事应当勤勉尽 责，确保股东会正常召开和依法行使职权。 第四条 股东会应当在《公司法》和《公司章程》规定的范围内行使职权。 第五条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次,应当于 上一会计年度结束后的六个月内举行。 临时股东会不定期召开，出现《公司章程》第五十九条情形之一时，临时股东会 应当在两个月内召开。 公司在上述期限内不能召开股东会的，应当报告公司所在地中国证券监督管理委员 会（以下简称中国证监会）派出机构和公 ...

证券简称：中船防务 股票代码：600685 公告编号：2025-032 中船海洋与防务装备股份有限公司 关于修订《公司章程》《股东会议事规则》 《董事会议事规则》并取消监事会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中船海洋与防务装备股份有限公司（以下简称"公司"或"本公司"） 于 2025 年 7 月 22 日（星期二）召开第十一届董事会第十四次会议，审议 通过了《关于修订<公司章程>的预案》《关于修订公司<股东会议事规则> 的预案》《关于修订公司<董事会议事规则>的预案》及《关于取消公司监事 会并废止<监事会议事规则>的预案》。 根据 2024 年 7 月 1 日生效实施的《中华人民共和国公司法》、中国证 监会发布的《关于新<公司法>配套制度规则实施相关过渡期安排》以及《上 市公司章程指引》（2025 年修订）等相关法律法规、规范性文件的规定及 监管要求，结合公司实际情况，公司拟修订《公司章程》《股东会议事规则》 《董事会议事规则》，取消监事会并废止《监事会议事规则》，主要修订内 容包括：（1）删除监事会、监 ...

证券简称：中船防务 股票代码：600685 公告编号: 2025-030 中船海洋与防务装备股份有限公司 第十一届监事会第十四次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中船海洋与防务装备股份有限公司（以下简称"公司"或"本公司"） 第十一届监事会第十四次会议于 2025 年 7 月 22 日（星期二）上午 10:00 在本公司第二会议室召开，监事会会议通知和材料于 2025 年 7 月 17 日（星 期四）以电子邮件方式发出。本次会议应出席监事 4 人，亲自出席监事 3 人，职工监事张兴林先生因工作原因未能出席本次会议，委托职工监事欧 阳北京先生代为出席表决。根据《公司章程》的有关规定，会议由公司过 半数的监事共同推举欧阳北京监事主持。会议程序符合《公司法》和本公 司《公司章程》的有关规定，会议决议合法有效。经过充分讨论，会议通 过了如下议案： 1、通过《关于修订<公司章程>的预案》。 表决结果：赞成 4 票，反对 0 票，弃权 0 票。 该预案需提交本公司 2025 年第三次临时股东会审议。 2、通过《 ...

证券简称：中船防务 股票代码：600685 公告编号: 2025-031 中船海洋与防务装备股份有限公司 第十一届董事会第十四次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中船海洋与防务装备股份有限公司（以下简称"公司"或"本公司"） 第十一届董事会第十四次会议于 2025 年 7 月 22 日（星期二）上午 10：30 在本公司会议室召开，董事会会议通知和材料于 2025 年 7 月 17 日（星期 四）以电子邮件方式发出。本次会议应出席董事 8 人，亲自出席董事 8 人。 因工作原因，非执行董事顾远先生、任开江先生及尹路先生以视频方式出 席本次会议。根据《公司章程》的有关规定，会议由公司过半数的董事共 同推举陈利平董事主持。本公司监事、高级管理人员列席了会议。会议程 序符合《公司法》和本公司《公司章程》的有关规定，会议决议合法有效。 经过充分讨论，会议审议通过如下议案： 1、通过《关于修订<公司章程>的预案》。 表决结果：赞成 8 票，反对 0 票，弃权 0 票。 该预案需提交本公司 2025 年第三次临 ...

Investment Rating - The investment rating for the transportation industry is "Positive" (maintained) [4] Core Views - The express delivery sector shows significant divergence in June data, with a focus on the industry's anti-involution process [3] - The express logistics market is expanding, supported by the national strategy to boost domestic demand, with a year-on-year growth of 15.8% in express delivery volume in June 2025 [5] - The performance of major express companies varies, with SF Express maintaining a business volume growth rate of over 30%, while other companies like YTO Express and Yunda Express show slower growth [4][5] Summary by Sections Express Logistics - In June 2025, the total express delivery volume reached 16.87 billion pieces, a year-on-year increase of 15.8%, with total revenue of 126.32 billion yuan, up 9.0% [5][24] - Major express companies' performance in June: YTO Express (2.627 billion pieces, +19.34%), Yunda Express (2.173 billion pieces, +7.41%), SF Express (1.460 billion pieces, +31.77%) [4][28] - The market share for these companies is 15.6% for YTO, 12.9% for both Yunda and Shentong, and 8.7% for SF Express [4] Air Transportation - The air travel sector is expected to benefit from macroeconomic recovery, with a year-on-year increase of 4.4% in passenger transport volume in June 2025 [52] - Major airlines are projected to improve their performance in Q2 2025 due to better supply-demand dynamics and lower oil prices [8] Shipping and Ports - The shipping sector is anticipated to benefit from OPEC+ production increases and a favorable economic environment, with a focus on crude oil transportation [16] - The Baltic Dry Index (BDI) increased by 27.8% week-on-week, indicating a recovery in the bulk shipping market [11][68] - Container throughput at Chinese ports showed a slight increase in cargo volume but a decrease in container throughput [81] Road and Rail - In June 2025, road freight volume increased by 2.86% year-on-year, while rail freight volume rose by 7.36% [45] - National logistics operations are running smoothly, with a slight increase in freight truck traffic [14] Supply Chain Logistics - Companies like Shenzhen International and Debon Logistics are expected to benefit from strategic transformations and improved profitability [15]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company is expected to achieve a significant increase in net profit for the first half of 2025, with a projected growth of approximately 213% to 268% year-on-year, resulting in a net profit of 460 to 540 million yuan [1] - The growth in profit is attributed to improved operational efficiency, increased revenue from shipbuilding products, and better performance from joint ventures [1][2] - The shipbuilding industry is experiencing upward cyclical trends due to factors such as ship replacement cycles, environmental policies, and tight capacity, which are expected to enhance profitability for shipyards [2][3] Financial Summary - The projected net profits for the company from 2025 to 2027 are approximately 900 million, 1.66 billion, and 2.7 billion yuan, reflecting year-on-year growth rates of 139%, 84%, and 63% respectively [4][6] - The earnings per share (EPS) are forecasted to be 0.64 yuan in 2025, 1.18 yuan in 2026, and 1.91 yuan in 2027 [6] - The price-to-earnings (P/E) ratios are projected to be 44, 24, and 15 for the years 2025, 2026, and 2027 respectively, while the price-to-book (P/B) ratios are expected to be 2.1, 1.9, and 1.7 [4][6] Industry Trends - The shipbuilding industry is witnessing a slowdown in new orders, with a 58% year-on-year decline in new orders received in the first half of 2025, although certain segments like container ships have seen growth [2][3] - The supply-demand dynamics in the industry are expected to drive ship prices higher due to tight capacity and inflationary pressures [2][3]

Group 1: Company Actions and Financials - Lianlian Digital plans to issue 38.4 million new H-shares at a price of HKD 10.25 per share, representing a 10.09% discount from the last closing price, aiming to raise approximately HKD 393.6 million for global payment innovations and business expansion [1] - Kangji Pharmaceutical announced its intention to list on the Singapore Exchange, which is expected to enhance its international visibility and broaden financing channels [3] - China Shipbuilding Defense anticipates a net profit of HKD 460 million to HKD 540 million for the first half of 2025, reflecting a year-on-year increase of 213.25% to 267.73%, driven by improved production efficiency and revenue from ship products [4] Group 2: Industry Trends - The healthcare sector in Hong Kong has seen a significant increase in IPOs, with 11 companies raising a total of approximately HKD 18.119 billion, indicating strong market interest in the healthcare industry [2] - The overall performance of the Hong Kong stock market shows positive trends, with the Hang Seng Index rising by 0.26% [5]

[Important Notice](index=1&type=section&id=Important%20Content%20Notice) This earnings forecast applies to profitable scenarios with net profit growth exceeding 50% year-over-year - This earnings forecast applies to situations of profitability with net profit increasing by over **50%** year-over-year[2](index=2&type=chunk) Key Financial Forecasts for H1 2025 | Metric | Estimated Amount (CNY 10,000) | YoY Growth (%) | YoY Increase (CNY 10,000) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Shareholders | 46,000 - 54,000 | 213.25 - 267.73 | 31,315 - 39,315 | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 43,000 - 51,000 | 228.12 - 289.16 | 29,895 - 37,895 | [Current Period Earnings Forecast](index=1&type=section&id=I.%20Current%20Period%20Earnings%20Forecast) The company expects significant year-over-year growth exceeding 200% in both net profit attributable to shareholders and net profit excluding non-recurring items for H1 2025 [Earnings Forecast Period](index=1&type=section&id=%28I%29%20Earnings%20Forecast%20Period) This earnings forecast covers the financial period from January 1, 2025, to June 30, 2025 - The earnings forecast period is from **January 1, 2025, to June 30, 2025**[3](index=3&type=chunk) [Earnings Forecast Details](index=1&type=section&id=%28II%29%20Earnings%20Forecast%20Details) The company anticipates substantial year-over-year growth in both net profit and non-recurring net profit for H1 2025, with increases exceeding 200% H1 2025 Net Profit Forecast | Metric | Estimated Amount (CNY 10,000) | YoY Increase (CNY 10,000) | YoY Growth (%) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Shareholders | 46,000 - 54,000 | 31,315 - 39,315 | 213.25 - 267.73 | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 43,000 - 51,000 | 29,895 - 37,895 | 228.12 - 289.16 | [Unaudited Financial Data Statement](index=2&type=section&id=%28III%29%20Unaudited%20Financial%20Data%20for%20This%20Earnings%20Forecast) The company explicitly states that the financial data in this earnings forecast are preliminary estimates and have not been audited by a certified public accountant - The financial data related to this earnings forecast have not been audited by a certified public accountant[5](index=5&type=chunk) [Operating Performance and Financial Status for the Same Period Last Year](index=2&type=section&id=II.%20Operating%20Performance%20and%20Financial%20Status%20for%20the%20Same%20Period%20Last%20Year) This section provides specific profit figures for H1 2024, including total profit, net profit attributable to shareholders, and non-recurring net profit, serving as a comparative baseline for the current forecast [Prior Period Profit Situation](index=2&type=section&id=%28I%29%20Prior%20Period%20Profit%20Situation) Detailed profit figures for H1 2024 are presented, including total profit, net profit attributable to shareholders, and non-recurring net profit H1 2024 Profit Data | Metric | Amount (CNY 10,000) | | :--- | :--- | | Total Profit | 15,072.17 | | Net Profit Attributable to Shareholders | 14,684.57 | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 13,105.10 | [Prior Period Earnings Per Share](index=2&type=section&id=%28II%29%20Prior%20Period%20Earnings%20Per%20Share) The basic earnings per share for H1 2024 is reported as 0.1039 CNY H1 2024 Earnings Per Share | Metric | Amount (CNY/share) | | :--- | :--- | | Earnings Per Share | 0.1039 | [Main Reasons for Forecasted Performance Increase](index=2&type=section&id=III.%20Main%20Reasons%20for%20Forecasted%20Performance%20Increase) The performance increase is primarily driven by enhanced revenue and production efficiency in marine products, coupled with improved performance and increased dividends from associates - The company focused on annual targets, deepened lean management, steadily increased marine product revenue and production efficiency, and improved product gross profit year-over-year[7](index=7&type=chunk) - Improved operating performance of associates and increased dividend levels from investee companies led to a significant year-over-year increase in recognized investment income[7](index=7&type=chunk) [Risk Warning](index=2&type=section&id=IV.%20Risk%20Warning) This section warns investors that the earnings forecast data is unaudited and states no uncertain factors affect its accuracy - The data in this earnings forecast is a preliminary calculation by the finance department and has not been audited by a certified public accountant[8](index=8&type=chunk) - The company declares that there are no uncertain factors affecting the accuracy of this earnings forecast[8](index=8&type=chunk) [Other Explanatory Matters](index=2&type=section&id=V.%20Other%20Explanatory%20Matters) This section emphasizes that forecast data is preliminary, final data will be in the official report, and advises investors to be aware of investment risks - The forecast data is only a preliminary calculation, and the final financial data will be subject to the company's officially disclosed H1 2025 report[9](index=9&type=chunk) - Investors are reminded to be aware of investment risks[9](index=9&type=chunk)

中船防务（600685）公告，预计2025年半年度实现归属于母公司所有者的净利润4.6亿元到5.4亿元，与 上年同期相比，将增加3.13亿元到3.93亿元，同比增加213.25%到267.73%。预计2025年半年度实现归属 于母公司所有者的扣除非经常性损益的净利润4.3亿元到5.1亿元，与上年同期相比，将增加2.99亿元到 3.79亿元，同比增加228.12%到289.16%。 ...

Group 1 - Guolian Minsheng (01456) expects a net profit of RMB 1.129 billion for the first half of 2025, representing a year-on-year increase of approximately 1183% [1] - NIO-SW (09866) saw a rise of over 10% as its sub-brand, Lido, officially launched pre-sales for its new model L90, priced starting at RMB 279,900, which is competitive against similar models [1] - China CNR (01766) rose over 7% following a profit warning, with the rail transit equipment industry showing high demand and Q2 performance exceeding expectations [1] Group 2 - Coal stocks experienced a broad increase, with companies like China Qinfa (00866) and China Shenhua (01088) rising over 4%, driven by strong coal prices amid high temperatures [1] - Zijin Mining (02899) saw a rise of 1.5%, with expected net profit growth of about 54% year-on-year for the first half of the year, although short-term impacts from copper tariffs are anticipated [1] Group 3 - WanGuo Data-SW (09698) increased over 6% after its REIT completed offline inquiries with a subscription multiple of 166 times, indicating significant valuation potential [2] - Hengrui Medicine (01276) rose over 4%, reaching a new high, with expectations that its performance and business development will act as key catalysts [2] - China Shipbuilding Defense (00317) increased over 5% as the merger of two shipbuilding companies approaches completion, with Q2 performance exceeding expectations [2] Group 4 - Bitcoin-related stocks saw significant gains, with Bit Origin (BTOG.US) rising 51.72% and SharpLink Gaming (SBET.US) increasing 17.15%, driven by a surge in Bitcoin prices [3] - Gold stocks strengthened amid geopolitical tensions, with Gold ETF (GLD.US) rising 0.96% and Barrick Mining (B.US) increasing 0.71% [3] Group 5 - British Petroleum (BP.US) rose 3.55% as the company anticipates an increase in Q2 oil production and strong trading performance [7] - Huami Technology (ZEPP.US) surged over 69%, projecting a 30% revenue growth for Q2, marking its first growth in three years [7]