中远海运能源运输股份有限公司 独立董事二零二三年年度履职报告 各位股东： 根据《上市公司独立董事管理办法》和《中远海运能源运输股份有限公司章 程》（以下简称"《公司章程》"）的规定，我作为中远海运能源运输股份有限公司 （以下简称"公司"）独立董事，现将本人本年度履行独立董事职责情况述职如下： 一、本人基本情况 王祖温，1955 年 11 月出生，工学博士，现任中远海运能源运输股份有限公 司独立非执行董事、董事会提名委员会主任委员、薪酬与考核委员会委员、审计 委员会委员和风险控制委员会委员，锦州港股份有限公司（股票代码：600190.SH） 和机械工业第九设计研究院股份有限公司独立董事，历任哈尔滨工业大学副教授、 教授、博士生导师、副校长，大连海事大学教授、校长等职。 本人熟悉上市公司运作的基本知识和相关法律、法规，具备履行独立非执行 董事职责所必需的工作经验和资格，与公司不存在任何影响独立性的关系，具备 《上市公司独立董事管理办法》第六条所规定的独立性，不存在被中国证监会确 定为市场禁入者，并且禁入尚未解除的现象。 二、出席会议情况 （一）出席股东大会、董事会情况 二零二三年，本人均亲自出席股东大会、董事会会 ...

证券代码：600026 证券简称：中远海能 公告编号： 2024-008 中远海运能源运输股份有限公司 二〇二四年第一次监事会会议决议公告 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。 中远海运能源运输股份有限公司（以下简称"中远海能"、"本公司"或"公司"） 二〇二四年第一次监事会会议通知和材料于2024年3月14日以电子邮件/专人送 达形式发出，会议于2024年3月28日以现场及视频会议方式召开。本公司所有四 名监事参加会议。会议的召开符合《中华人民共和国公司法》和本公司《公司章 程》的有关规定。与会监事审议并通过了以下议案： 一、审议并通过《关于公司 2023 年总经理工作报告的议案》 表决情况：4 票赞成，0 票反对，0 票弃权。 二、审议并通过《关于公司 2023 年度监事会工作报告的议案》 监事会认为：报告期内，公司根据《中华人民共和国公司法》《中华人民共和 国证券法》、中国证监会《上市公司治理准则》等相关法律、法规的要求，结合公 司实际，完善公司制度，加强公司治理，公司股东大会、董事会以及相应的专门委 员会、 ...

公司代码：600026 公司简称：中远海能 中远海运能源运输股份有限公司 2023 年度内部控制评价报告 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整， 提高经营效率和效果，促进实现发展战略。由于内部控制存在的固有局限性，故仅能为实现上述目标 提供合理保证。此外，由于情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程 度降低，根据内部控制评价结果推测未来内部控制的有效性具有一定的风险。 二. 内部控制评价结论 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露 内部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责 组织领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内 容不存在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别 及连带法律责任。 根据公司财务报告内部控制重大缺陷的认定情况，于内部控制评价报告基准日，不存在财务报告内 部控制重大缺陷，董事会认为，公司已按照企业内部控制规范体系和相关规定的要求在所有 ...

中远海运能源运输股份有限公司 二〇二四年第一次独立董事专门会议决议 中远海运能源运输股份有限公司（以下简称"公司"）2024 年第一次独立董 事专门会议于 2024 年 3 月 27 日以现场会议方式召开。本次会议应出席独立董 事 4 人，实际出席独立董事 4 人，本次会议由独立董事李润生先生主持，会议的 召集、召开和表决程序符合《公司法》《上市公司独立董事管理办法》等规定。 全体独立董事本着基于客观、独立的立场，对拟提交公司 2024 年第一次董事会 的部分议案进行了会前审核并发表审核意见，具体如下： 一、《关于公司 2023 年度关联交易情况报告的议案》 （以下无正文） （本页无正文，为《中远海运能源运输股份有限公司二〇二四年第一次独立董事 专门会议决议》签署页） 经核查，信永中和会计师事务所（特殊普通合伙）出具的《关于公司 2023 年 度关联方资金占用说明及报告》已全面反映了公司的实际情况，2023 年度报告 期内，除存在经营性往来资金外，公司不存在控股股东及其他关联方占用公司资 金情况，也不存在以往年度发生并累计至 2023 年 12 月 31 日的关联方资金占用 情况。 报告期内公司严格遵守中国证 ...

智通财经APP讯，中远海能(01138)发布截至2023年12月31日止年度业绩，该集团取得营业额人民币 219.12亿元(单位下同)，同比增加18.02%;公司权益持有人应占溢利33.49亿元，同比增加129.23%;每股盈 利70.19分，拟派发末期股息每股35分。 截至2023年12月31日，集团共有油轮运力156艘，2306万载重吨，同比减少3艘、28万载重吨;参与投资 的LNG船舶中，有43艘、720万立方米已投入运营。 2023年度，集团实现运输量(不含期租)为17259.3万吨，同比减少1.0%;运输周转量(不含期租)为5304.9亿 吨海裡，同比减少1.2%;主营业务收入219.1亿元，同比增加18.0%;主营业务成本154.2亿元，同比增加 1.7%;毛利率同比增加11.2个百分点。实现归属于上市公司股东净利润33.5亿元，同比增加129.2%;税息 折旧及摊销前利润(EBITDA)93.5亿元，同比增长42.6%。 2023年，集团坚持"稳中求进"的工作总基调，以全面推进"四个全球领先"战略目标和加快建设世界一流 企业为主题主线，抢抓市场机遇提高油轮船队盈利水平，加快推进LNG运力规模扩张 ...

Financial Performance - The group's revenue increased from RMB 18.567 billion in 2022 to RMB 21.912 billion in 2023, representing an increase of approximately RMB 3.345 billion or 18%[2] - The profit attributable to equity holders for 2023 was RMB 3.349 billion, compared to RMB 1.461 billion in 2022, marking a significant increase[4] - Basic and diluted earnings per share for 2023 were both RMB 0.7019, up from RMB 0.3064 and RMB 0.3060 in 2022[4] - The total comprehensive income for 2023 was RMB 3.837 billion, compared to RMB 3.645 billion in 2022, indicating a growth in overall profitability[4] - The gross profit for 2023 was RMB 6.495 billion, compared to RMB 3.409 billion in 2022, highlighting improved operational efficiency[3] - The company reported a pre-tax profit of RMB 4.740 billion for 2023, significantly higher than RMB 2.753 billion in 2022, indicating strong operational performance[3] - The company achieved a net profit attributable to equity holders of RMB 3,348,717,000 for the year ended December 31, 2023, compared to RMB 1,460,862,000 in 2022, marking an increase of approximately 129.5%[34] Assets and Liabilities - The total assets as of December 31, 2023, amounted to RMB 72.084 billion, an increase from RMB 68.250 billion in 2022[5] - Non-current liabilities increased to RMB 26.254 billion in 2023 from RMB 24.089 billion in 2022, reflecting a rise in financial obligations[6] - Current liabilities decreased from RMB 10.591 billion in 2022 to RMB 8.726 billion in 2023, indicating improved short-term financial health[7] - The total equity attributable to equity holders increased to RMB 34.392 billion in 2023 from RMB 31.571 billion in 2022, showing a strengthening of the company's financial position[8] - The total liabilities for the oil transportation segment decreased to RMB 21,842,913,000 in 2023 from RMB 24,162,945,000 in 2022, a reduction of approximately 9.3%[23] Revenue Segmentation - The company operates primarily in two business segments: oil transportation and LNG transportation, each representing a strategic business unit with distinct risks and returns[20] - The LNG segment generated revenue of RMB 20,091,575,000 with a profit of RMB 1,820,881,000, compared to RMB 17,247,983,000 and RMB 1,318,812,000 in 2022, indicating a revenue increase of 16.7%[21] - The company reported a 22.6% increase in foreign trade oil transportation revenue, totaling RMB 13.92 billion, with a gross profit margin of 29.8%, up 16.9 percentage points[47] Operational Efficiency - The company's net cash generated from operating activities for the reporting period was approximately RMB 8.66 billion, an increase of about 110% compared to RMB 4.13 billion for the previous year[55] - The company's gross profit margin improved by 11.2 percentage points year-on-year, reaching 29.6%[45] - The company actively developed high-revenue shipping routes, enhancing its operational efficiency and diversifying customer resources[48] Future Outlook - In 2024, global oil demand is expected to increase by 1.24 million barrels per day, primarily driven by China and India[76] - The company plans to add 6 LNG vessels with a total capacity of 104,100 cubic meters in 2024, while disposing of 4 oil tankers with a total deadweight tonnage of 729,000 tons[81] - The company anticipates achieving operating revenue of RMB 22.3 billion and operating costs of RMB 15.8 billion in 2024[81] Corporate Governance - The company has established five specialized committees within the board of directors to enhance governance and accountability[99] - The company maintains compliance with the corporate governance code as per the listing rules throughout the year ending December 31, 2023[99] - The company’s board of directors is committed to enhancing shareholder value and ensuring independent oversight by separating the roles of chairman and CEO[99] Environmental and Social Responsibility - The company implemented a green low-carbon transformation plan to strengthen its ESG governance[44] - The company is committed to green and intelligent transformation, developing new energy-powered vessels and applying low-carbon technologies[86] Employee and Talent Management - The total number of employees as of December 31, 2023, was 7,911, a decrease from 8,384 on February 28, 2023[103] - Employee costs for the reporting period were approximately RMB 3.599 billion, compared to approximately RMB 3.678 billion in the previous year[103] - The company will focus on building a high-quality talent pool and optimizing internal talent reserves to drive sustainable development[89]

中远海运能源运输股份有限公司 关于公司 2023 年股票期权激励计划 获国务院国资委批复的公告 证券代码：600026 证券简称：中远海能 公告编号：2024-006 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。 中远海运能源运输股份有限公司（以下简称"中远海能"、"本公司"或"公司"） 2023 年第八次董事会会议于 2023 年 10 月 26 日审议通过了公司 2023 年股票期 权激励计划的相关议案。 近日，公司收到控股股东中国远洋海运集团有限公司通知，根据国务院国有 资产监督管理委员会（以下简称"国务院国资委"）《关于中远海运能源运输股份 有限公司实施股票期权激励计划的批复》（国资考分〔2024〕109 号），国务院国 资委原则同意中远海能实施股票期权激励计划。 本公司股票期权激励计划尚需提交本公司股东大会和类别股东大会批准。有 关召开本公司股东大会和类别股东大会的事宜，本公司董事会将按相关程序另行 通知。 本公司将严格按照《中华人民共和国公司法》《中华人民共和国证券法》《上 市公司股权激励管理办法》等有关规定， ...

智通财经APP获悉，中远海能(01138)现涨超4%，截至发稿，涨4.71%，报8.23港元，成交额3577.04万港 元。 国泰君安指出，24Q1淡季运价超预期，再次验证油运业产能利用率已提升至阈值附近。预计未来数年 供需将继续向好，油运景气上升与持续将超预期，当战略性重视。预计油运公司2024Q1业绩增长将超 预期，未来具有业绩与估值双重空间。 浙商证券发布研究报告称，在手订单处历史低位，供给刚性确定，全球补库提供需求端支撑，中国、印 度等亚太新兴国家的需求增量驱动油运需求向上。俄乌冲突后全球石油贸易重构带动运距显著拉长，此 外在中东减产背景下，美湾、南美及西非等长运距地区出货增加，有望进一步带动吨海里需求向上。 ...

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 19.75 CNY, based on a 2.5x PB valuation for 2024 [9][15]. Core Views - The company is a global leader in energy shipping, with stable profitability from domestic oil and LNG operations, providing a safety net for earnings. The external oil shipping business is expected to benefit from demand elasticity due to future supply constraints, with VLCC rates likely to rise, offering significant upside potential for earnings [2][12]. Summary by Sections 1. Global Energy Shipping Leader - The company operates the largest fleet of oil tankers globally, with a total capacity of 22.74 million deadweight tons, including 52 VLCCs. As of September 30, 2023, the company has 155 oil tankers in operation [3][22]. - In the first three quarters of 2023, the company achieved a revenue of 16.535 billion CNY, a year-on-year increase of 33.4%, and a net profit of 3.714 billion CNY, up 480% year-on-year [4][24]. 2. External Oil Shipping: Demand May Exceed Expectations - The external oil shipping business is primarily influenced by market rates. Global oil shipping capacity is expected to grow only by 0.6% in 2024, while demand is anticipated to rebound due to economic recovery and inventory replenishment, potentially leading to higher rates [4][34]. - The gross profit from crude oil transportation in the first three quarters of 2023 reached 2.024 billion CNY, a year-on-year increase of 580% [4][32]. 3. Domestic Oil Shipping: Leading Position and Stable Contribution - The domestic oil shipping segment has stable rates and is expected to see steady demand growth. The company holds a leading position in the domestic crude and refined oil transportation market, maintaining a stable cargo source ratio of over 90% [5][24]. - The gross profit from domestic oil shipping has consistently exceeded 1.2 billion CNY annually from 2019 to 2022 [5][32]. 4. LNG Shipping: Long-term Contracts Stabilize Earnings - The LNG shipping business is supported by long-term contracts with project partners, ensuring stable rental income and investment returns. The average gross profit margin from 2017 to 2022 was 53.9% [6][12]. - The company expects the LNG segment to contribute a net profit of 800 to 1.1 billion CNY from 2023 to 2025 as the fleet expands [6][15]. 5. Profit Forecast, Valuation, and Rating - Revenue projections for 2023-2025 are 22.59 billion CNY, 25.99 billion CNY, and 28.93 billion CNY, representing year-on-year growth rates of 21.1%, 15.1%, and 11.3%, respectively. The net profit is forecasted to be 3.64 billion CNY, 6.04 billion CNY, and 6.91 billion CNY, with a CAGR of 68% over three years [7][15]. - The report utilizes a PB valuation method due to the cyclical nature of the industry, leading to a target price of 19.75 CNY based on a 2.5x PB for 2024 [15][19].

Investment Rating - The report maintains a "Buy" rating for COSCO SHIPPING Energy Transportation (600026 SH) [1] Core Views - COSCO SHIPPING Energy Transportation is a global leader in oil and LNG shipping, with its performance highly correlated to the oil shipping cycle [7] - The oil shipping industry is cyclical, with market cycles driven by supply and demand but heavily influenced by external factors, leading to significant price volatility [7] - The crude oil shipping cycle is on an upward trend, while the refined oil shipping market remains at a high level [7] - The company's earnings elasticity is primarily driven by its VLCC fleet, with marginal revenue increasing by RMB 1 058 million for every USD 10 000/day increase in TCE [7] Company Overview - COSCO SHIPPING Energy Transportation is a global leader in oil and LNG shipping, with a focus on oil and gas transportation since its 2016 restructuring [5][7] - The company's market position is strong, ranking among the top global oil tanker owners and being a major LNG shipowner [5][15] - Financial indicators show that international oil shipping is the primary source of earnings elasticity, while domestic oil shipping and LNG transportation maintain stable gross margins [18] Industry Overview - The oil shipping industry is highly cyclical, with customers primarily being international oil majors [5][22] - Crude oil shipping is characterized by a single product type, large volumes, and a global market with point-to-point networks [25] - Refined oil shipping involves complex product types, smaller volumes, and regional markets with triangular trade routes [28] - Shipping rates are driven by supply and demand but are highly susceptible to external shocks, leading to significant price fluctuations [33] Cycle Trends - The crude oil shipping cycle is on an upward trend, with VLCCs being the primary source of earnings elasticity [5][39] - Crude oil shipping demand is driven by factors such as increased oil production, the lifting of sanctions, and geopolitical conflicts leading to longer shipping routes [42][46][49][51] - Supply constraints in the crude oil shipping market are due to low new orders, an aging fleet, and limited shipyard capacity [56][58][63] - The refined oil shipping market has entered a recovery phase, with demand driven by uneven refinery capacity distribution and geopolitical conflicts leading to route restructuring [65][69][71] Investment Recommendation - The company's earnings elasticity is highly dependent on its fleet structure, with the VLCC fleet contributing the most to marginal revenue [74][76] - The report forecasts COSCO SHIPPING Energy Transportation's revenue for 2023-2025 to be RMB 22 029 million, RMB 25 895 million, and RMB 27 905 million, respectively, with net profits of RMB 3 676 million, RMB 7 024 million, and RMB 8 330 million [76] - The company's PE ratios for 2023-2025 are projected to be 19 09x, 9 99x, and 8 42x, respectively, supporting the "Buy" rating [76]