Group 1 - Qingdao Port's closing price on July 4 was 8.88 yuan, with a 1.37% increase, resulting in a rolling PE ratio of 10.83 times and a total market value of 57.641 billion yuan [1] - The average PE ratio for the shipping and port industry is 14.27 times, with a median of 14.88 times, placing Qingdao Port in 8th position within the industry [1] - As of the first quarter of 2025, 31 institutions held shares in Qingdao Port, including 22 funds, 6 others, 1 insurance company, 1 brokerage, and 1 social security fund, with a total holding of 492,844.41 million shares valued at 48.397 billion yuan [1] Group 2 - Qingdao Port International Co., Ltd. specializes in the loading and unloading of various goods such as containers, metal ores, coal, and crude oil, along with logistics and port value-added services [2] - The company has received numerous awards, including the National Quality Management Award and recognition as a "Green Port," and has been identified as one of the five exemplary benchmarks for world-class ports in China [2] - In the first quarter of 2025, the company reported an operating income of 4.807 billion yuan, a year-on-year increase of 8.51%, and a net profit of 1.402 billion yuan, a year-on-year increase of 6.51%, with a gross profit margin of 38.57% [2] Group 3 - The PE (TTM) ratio for Qingdao Port is 10.83, while the static PE is 11.01, and the price-to-book ratio is 1.31, with a total market value of 57.641 billion yuan [3] - The industry average PE (TTM) is 14.27, and the industry median is 14.88, indicating that Qingdao Port's valuation is below the industry average [3] - Other companies in the industry have varying PE ratios, with China Merchants Energy at 9.04 and Shanghai International Port at 9.01, showing a competitive landscape [3]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年6月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 青島港國際股份有限公司 呈交日期: 2025年7月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06198 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,099,025,000 | RMB | | | 1 RMB | | 1,099,025,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 1,099,025,000 | RMB | | | 1 RMB | | 1,099,025,000 | | 2. ...

Meeting Details - The annual general meeting of Qingdao Port International Co., Ltd. was held on June 27, 2025, at Hyatt Hotel, Qingdao, Shandong Province [1] - A total of 437 A-share shareholders and 5 overseas H-share shareholders attended the meeting, representing 84.9305% of the total shares [1] Voting Results - The non-cumulative voting proposal was approved with 99.9291% of A-share votes in favor and 78.8532% of H-share votes in favor [1] - The total number of ordinary shares voted was 5,362,768,778, with 97.2761% approval [1] Shareholder Participation - A-share shareholders held a total of 4,818,982,676 shares, accounting for 74.2398% of the total shares, while H-share shareholders held 693,949,792 shares, accounting for 10.6907% [1] - The voting results showed a high level of agreement among shareholders, with A-shares and H-shares consistently showing over 99% approval for various proposals [2][3] Legal Compliance - The meeting was convened in accordance with the Company Law and the company's articles of association, with legal representatives confirming the validity of the proceedings [4]

青岛港国际股份有限公司 2024年年度股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 6 月 27 日 (二)股东大会召开的地点：山东省青岛市东海东路 88 号青岛山港凯悦酒店 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 442 | | --- | --- | | 其中：A 股股东人数 | 437 | | 股） 境外上市外资股股东人数（H | 5 | | 2、出席会议的股东所持有表决权的股份总数（股） | 5,512,932,468 | | 其中：A 股股东持有股份总数 | 4,818,982,676 | | 境外上市外资股股东持有股份总数（H 股） | 693,949,792 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 84.9305 | | 其中：A 股股东持股占股份总数的比例（ ...

青岛港 · 2024 年年度股东大会 嘉源 · 法律意见书 = 源 IA YUAN LAW OFFICES 北京 BEIJING · 上海 SHANGHAI · 深圳 SHENZHE 致:青岛港国际股份有限公司 北京市嘉源律师事务所 关于青岛港国际股份有限公司 2024 年年度股东大会的 法律意见书 嘉源(2025)-04-475 北京市嘉源律师事务所（以下简称"本所"）接受青岛港国际股份有限公司 (以下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称"《公 司法》"）、《上市公司股东会规则》（以下简称"《股东会规则》"）等现行 有效的法律、行政法规、部门规章、规范性文件(以下简称"法律法规")以及 《青岛港国际股份有限公司章程》（以下简称"《公司章程》"）的有关规定, 指派本所律师对公司 2024 年年度股东大会(以下简称"本次股东大会")进行 见证,并依法出具本法律意见书。 为出具本法律意见书,本所指派律师现场见证了本次股东大会,查阅了公司 提供的与本次股东大会有关的文件和资料,并进行了必要的审查和验证。在前述 审查和验证的过程中,本所律师得到公司的如下承诺和保证:就本所认为出具本 法律意见书 ...

在新一届董事会换届选举及监事会改革完成之前，公司第四届董事会、董事 会各专门委员会、监事会及高级管理人员将依照法律、法规和《青岛港国际股份 有限公司章程》等相关规定，继续履行相应的职责和义务。 本次延期换届不会影响公司的正常经营。公司将积极推进董事会换届选举、 监事会改革等工作，并及时履行相应的信息披露义务。 特此公告。 证券简称：青岛港 证券代码：601298 公告编号：临 2025-024 青岛港国际股份有限公司 关于董事会、监事会延期换届的公告 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。 青岛港国际股份有限公司（以下简称"公司"）第四届董事会、监事会将于 2025 年 6 月 27 日任期届满。鉴于公司新一届董事会候选人提名、监事会改革等 工作尚未完成，为保证相关工作的连续性和稳定性，公司董事会将延期换届，公 司董事会、董事会各专门委员会、监事会及高级管理人员的任期将相应顺延（以 上统称"延期换届"）。 青岛港国际股份有限公司董事会 2025 年 6 月 27 日 ...

Core Viewpoint - The first hydrogen-electric tugboat "Hydrogen Electric Tug 1" has officially joined the fleet at Shandong Port, Qingdao, marking a significant advancement in zero-emission maritime technology [1] Group 1: Technological Innovations - The tugboat features a hybrid system combining hydrogen fuel cells and liquid-cooled lithium batteries, enabling zero carbon emissions [1] - It can achieve a speed of 9 knots with a range exceeding 12 hours [1] - The tugboat has a towing capacity of 82 tons, making it the most powerful tugboat in the country [1] Group 2: Industry Impact - The introduction of this tugboat fills multiple domestic technological gaps, showcasing advancements in the maritime industry [1] - It incorporates innovative technologies such as the BeiDou integrated system and fully automated intelligent shore charging [1] - The tugboat is noted for having the largest horsepower and lithium battery capacity among port operation tugboats in the country [1]

Group 1 - The core business of the company includes loading and unloading various goods such as containers, metal ores, coal, and crude oil, along with logistics and port value-added services [2] - The company has received numerous honors, including being recognized as one of the five exemplary benchmarks of world-class ports in China [2] - For Q1 2025, the company reported a revenue of 4.807 billion yuan, an increase of 8.51% year-on-year, and a net profit of 1.402 billion yuan, up 6.51% year-on-year, with a gross profit margin of 38.57% [2] Group 2 - The company's current price-to-earnings (PE) ratio is 11.03, compared to the industry average of 14.25 and the industry median of 15.14 [3] - The total market capitalization of the company is 58.68 billion yuan [3] - As of Q1 2025, there are 31 institutions holding shares in the company, with a total holding of 492.844 million shares valued at 48.397 billion yuan [1][2]

Core Viewpoint - Shandong Port Qingdao is enhancing logistics efficiency to facilitate the export of Chinese industrial advantages to ASEAN markets, with significant growth in trade volumes reported [1] Group 1: Trade Performance - In the first three months of this year, the total value of goods exported from Qingdao Port to Belt and Road countries reached 64.46 billion yuan, a year-on-year increase of 15.7% [1] - Exports to ASEAN countries amounted to 18.43 billion yuan, reflecting a year-on-year growth of 15.4% [1] Group 2: Shipping Routes and Services - Qingdao Port currently operates nearly 50 direct container shipping routes to ASEAN, with over 20 shipping companies involved, including COSCO Shipping, Maersk, Mediterranean Shipping Company, and CMA CGM [1] - The port has established a "daily service" for direct shipping routes to ASEAN ports, effectively creating a maritime logistics corridor connecting China's inland regions to ASEAN markets [1] Group 3: Operational Efficiency Improvements - Qingdao Port is continuously optimizing port and shipping services to enhance "port efficiency," implementing direct connections between different transport units [1] - New customs clearance models, such as "pre-inspection" and "direct pick-up at the ship side," have reduced cargo clearance times by an average of 3 to 7 hours [1] - The "land-sea linkage and sea-rail direct transport" regulatory model has been successfully replicated in nine inland ports along the Yellow River [1] Group 4: Growth in Trade Volume - The export volume from Qingdao Port to Belt and Road countries and other RCEP regions has maintained a stable growth rate of over 10% [1] - The number of vessels docking with over 8,000 containers has increased by 20% year-on-year, with Southeast Asia routes now accounting for over 20% of Qingdao Port's international shipping routes [1]

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for investment [5][7]. Core Viewpoints - The company is positioned as a northern coastal hub port, benefiting from growth and dividend potential. It is the largest port in northern China and the second-largest foreign trade port in the country, with cargo and container throughput ranking fourth and fifth globally, respectively. The dual-driven business model of "containers + liquid bulk" has shown significant effectiveness [6][9]. - The company is expected to continue enjoying the integration benefits from the Shandong provincial port consolidation, with anticipated growth in profitability and a dividend yield of approximately 4% over the next three years [9][7]. Summary by Relevant Sections Financial Performance and Forecast - The company’s revenue for 2023 is projected at 18,173 million RMB, with a slight decline of 5.66% year-on-year. However, it is expected to recover with revenues of 18,941 million RMB in 2024 and 19,304 million RMB in 2025, reflecting growth rates of 4.23% and 1.92%, respectively [5][6]. - The net profit attributable to shareholders is forecasted to be 4,923 million RMB in 2023, increasing to 5,235 million RMB in 2024 and 5,492 million RMB in 2025, with year-on-year growth rates of 8.80% and 6.33% [5][6]. - The earnings per share (EPS) is expected to rise from 0.76 RMB in 2023 to 0.81 RMB in 2024 and 0.85 RMB in 2025 [5][6]. Business Segments - Container Business: The company anticipates container throughput of 32.17 million TEU in 2024, a year-on-year increase of 7.2%, contributing over 30% to total profits. Revenue from container handling and related services is expected to reach 1.678 billion RMB, a significant increase of 39.89% [6][59]. - Liquid Bulk Business: Although facing short-term pressure, the long-term outlook remains resilient. Revenue from liquid bulk handling is projected to be 3.670 billion RMB in 2024, down 13.5% year-on-year, primarily due to international market conditions and lower operational rates at refineries [81][86]. - Dry Bulk Business: Expected revenue growth for dry bulk handling is modest, with projections of 4.518 billion RMB in 2025, reflecting a year-on-year increase of 0.80% [8]. Market Position and Competitive Advantage - The company benefits from a strategic location as a natural deep-water port, enhancing its role as a logistics hub in Northeast Asia. It has established a comprehensive network of over 200 container shipping routes, connecting with more than 700 ports globally [22][14]. - The integration of Shandong ports has improved operational efficiency, reducing competition and enhancing service quality, which is expected to increase throughput by 20% [17][14]. Dividend Policy and Financial Health - The company has committed to a dividend payout of no less than 40% of distributable profits in profitable years. In 2024, total dividends amounted to 2.039 billion RMB, with a payout ratio of 39% [50][57]. - The company maintains a low debt-to-asset ratio of 25.43%, which is below the industry median, indicating a strong financial structure and capacity for sustainable growth [50][58].