Summary of Conference Call Records Industry Overview - **Industry Focus**: The conference call primarily discusses the highway, port, and power industries, emphasizing their investment frameworks and dividend asset characteristics [1][20]. Key Points and Arguments Highway Industry - **Business Model**: The highway business model is robust, driven by passenger and freight traffic. Passenger traffic benefits from the increase in car ownership and self-driving tourism, while freight traffic remains dominant despite a slight decline due to the "road-to-rail" policy [1][4]. - **Revenue Growth**: From 2011 to 2019, the average revenue growth rate for the highway industry was 8.5%, outpacing the GDP growth rate of 7.4% during the same period, indicating strong resilience [5]. - **Investment Strategy**: High dividend strategies are favored in weak markets, highlighting the defensive nature of highway assets. Prioritizing high-dividend, high-yield highway assets is a crucial investment strategy [1][7][9]. - **Regulatory Environment**: The optimization of toll road policies at the national level presents systemic opportunities for valuation improvement in the highway sector [2]. Port Industry - **Cargo Throughput Growth**: The port industry has seen steady growth in cargo throughput, benefiting from supply-side integration and rational production management. The average growth rate of cargo throughput over the past decade is between 3% and 4% [12]. - **Pricing Flexibility**: Port charges are flexible and can be adjusted based on market demand, unlike highway tolls, which are more rigid [14]. - **Investment Characteristics**: Ports are characterized by perpetual operation and dynamic pricing capabilities, making them attractive stable growth assets [15]. Power Industry - **Profitability Framework**: The hydroelectric power industry has a stable profitability framework with a clear cost structure, ensuring steady net profit generation. Companies like Yangtze Power commit to maintaining high dividend rates [21]. - **Nuclear Power Growth**: The nuclear power sector is in a clear growth cycle, with plans for significant new installations, supporting long-term profitability and dividend potential [24][25]. - **Gas Industry Dynamics**: The gas industry is transitioning towards maturity, with decreasing capital expenditures expected to enhance dividend levels as projects mature [29][31]. Additional Important Insights - **Investment Recommendations**: Recommended investment targets include high-dividend companies such as China Merchants Highway, Shandong Highway, and Ninghu Highway, which have shown strong performance in shareholder returns [9][11]. - **Future Potential**: Potential investment opportunities in the highway sector include Sichuan Chengyu and Ganyue Highway, which are expected to replicate successful growth patterns seen in other companies [11]. - **Governance and Stability**: The water and nuclear power sectors exhibit strong governance and stable dividend levels, making them attractive for long-term investment [20][21]. Conclusion The conference call highlights the resilience and growth potential of the highway, port, and power industries, emphasizing the importance of dividend strategies and regulatory environments in shaping investment opportunities. The focus on high-dividend assets reflects a broader trend towards stable, income-generating investments in the current market landscape.

Group 1 - Qingdao Port recorded a net financing inflow of 18.80 million yuan last week, ranking 442nd in the two markets [1] - The total financing amount for Qingdao Port was 53.68 million yuan, with repayments amounting to 34.88 million yuan [1] - The main sectors associated with Qingdao Port include shipping and ports, Shandong sector, S&P, FTSE Russell, Shanghai Stock Connect, and others [1] Group 2 - Over the past 5 days, the main capital inflow for Qingdao Port was 21.19 million yuan, with a price increase of 3.12% [1] - In the last 10 days, the main capital outflow was 1.24 million yuan, with a price decrease of 0.11% [1] - Qingdao Port International Co., Ltd. was established in 2013, primarily engaged in water transportation, with a registered capital of 649.11 million yuan [1] Group 3 - The company has made investments in 63 enterprises and participated in 4,032 bidding projects [1] - Qingdao Port International holds 3 trademark registrations and 1,287 patent registrations, along with 100 administrative licenses [1]

海外監管公告 本公告乃青島港國際股份有限公司（「本公司」）根據香港聯合交易所有限公司證券上 市規則第13.10B條作出。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致 的任何損失承擔任何責任。 Qingdao Port International Co., Ltd. 青島港國際股份有限公司 （於中華人民共和國成立的股份有限公司） （股份代號：06198） 以下為本公司於上海證券交易所網站（www.sse.com.cn）刊發之《青島港國際股份有限 公司2024年年度權益分派實施公告》，僅供參閱。 承董事會命 青島港國際股份有限公司 董事長 蘇建光 中國·青島，2025年8月18日 於本公告日期，本公司執行董事為蘇建光先生及張保華先生；本公司非執行董事為李武成先生、朱 濤先生、崔亮先生及王芙玲女士；及本公司獨立非執行董事為李燕女士、蔣敏先生及黎國浩先生。 证券代码：601298 证券简称：青岛港 公告编号：临 2025-026 青岛港国际股份有限公司 2024 年年度权益分派实 ...

Core Points - The company announced a cash dividend of RMB 0.2007 per share (before tax) for the fiscal year 2024, which was approved at the annual general meeting on June 27, 2025 [1] - The total cash dividend distribution amounts to RMB 1,302.76 million, based on a total share capital of 6,491,100,000 shares [1] - The total cash dividend for the year 2024, including the interim dividend of RMB 0.1134 per share, will be RMB 0.3141 per share (before tax), totaling RMB 2,038.85 million for the year [1] Distribution Plan - The cash dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the record date [1] - The distribution will be executed through the clearing system of the China Securities Depository and Clearing Corporation Limited for shareholders who have completed designated transactions [2] - Certain shareholders, including specific companies, will receive their dividends directly from the company [3] Taxation Details - For individual shareholders holding A-shares for more than one year, the cash dividend will not be subject to personal income tax, resulting in a net distribution of RMB 0.2007 per share [5] - For shares held for one year or less, tax will be calculated based on the holding period, with a maximum tax burden of 20% for shares held for one month or less [5] - For Qualified Foreign Institutional Investors (QFIIs), a 10% corporate income tax will be withheld, resulting in a net dividend of RMB 0.18063 per share [6] Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the Board Office at +86 532 82983087 [8]

Group 1 - The stock price of Qingdao Port (601298) closed at 8.73 yuan on August 15, 2025, down 0.46% with a turnover rate of 0.35% and a trading volume of 187,500 shares, amounting to a total transaction value of 163 million yuan [1] - On August 15, the net outflow of main funds from Qingdao Port was 18.08 million yuan, accounting for 11.06% of the total transaction value, while retail investors saw a net inflow of 6.35 million yuan, representing 3.89% of the total transaction value [2][4] - Qingdao Port International Co., Ltd. announced a cash dividend of 0.2007 yuan per share (before tax) for the year 2024, with a total cash dividend distribution of 1.3027638 billion yuan based on the total share capital of 6,491,100,000 shares [2][4] Group 2 - The ex-dividend date and cash dividend payment date for the announced cash dividend is set for August 25, 2025 [2] - The total cash dividend for the year 2024, including the mid-year cash dividend of 0.1134 yuan per share, amounts to 0.3141 yuan per share (before tax), totaling 2.0388545 billion yuan [2]

Core Viewpoint - The company has announced a cash dividend distribution plan for its shareholders, with a specific payout amount and relevant dates for the distribution process [2][3]. Dividend Distribution Plan - The cash dividend per share for A shares is set at RMB 0.2007 (including tax), totaling RMB 1,302.76 million for all shareholders based on a total share capital of 6,491,100,000 shares [2][3]. - The total cash dividend for the year 2024, including the mid-year distribution, amounts to RMB 0.3141 per share (including tax), with a total payout of RMB 2,038.85 million [3]. Relevant Dates - The key dates for the dividend distribution are as follows: - Record date: August 22, 2025 - Last trading day: August 25, 2025 - Ex-dividend date: August 25, 2025 - Cash dividend payment date: August 25, 2025 [3]. Implementation Method - Cash dividends for shareholders will be distributed through the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, based on the registration of shares as of the record date [3][4]. - For A share natural person shareholders and securities investment funds, tax policies will apply based on the holding period of the shares, with specific tax exemptions for longer holding periods [4]. Taxation Details - For individual shareholders holding shares for more than one year, the cash dividend will be RMB 0.2007 per share after tax exemption [4]. - For Qualified Foreign Institutional Investors (QFII), a 10% corporate income tax will be withheld, resulting in a net cash dividend of RMB 0.18063 per share [6]. - For Hong Kong investors through the Stock Connect program, the same 10% tax applies, with the possibility of applying for tax treaty benefits if applicable [6]. Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the Board Office at 0532-82983087 [7].

| 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/8/22 | － | 2025/8/25 | 2025/8/25 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 证券代码：601298 证券简称：青岛港 公告编号：临 2025-026 青岛港国际股份有限公司 2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利人民币 0.2007元（含税） 相关日期 本次利润分配以方案实施前的公司总股本6,491,100,000股为基数，每股派发现 三、 相关日期 本次利润分配方案经青岛港国际股份有限公司（以下简称"公司"）2025 年 6 月 27 日的2024年年度股东大会审议通过。 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司 ...

据介绍，山东港口计划逐步在山东全域提供甲醇、LNG、液氨等全品类绿色替代能源加注服务，全力 推动中国北方绿色船燃加注枢纽的建设，持续完善绿色替代能源加注服务网络，为加快建设世界级海洋 港口群贡献更多力量。(完) （文章来源：中国新闻网） 为确保首次加注业务进行，山东青岛港与中远海运集运、中国船燃全流程协同。青岛前湾集装箱码头有 限公司和方舟智能作为业务实施单位，与中国船燃青岛公司紧密对接，充分借鉴国际先进港口经验，针 对气候条件、政策环境、运营流程以及甲醇特性，逐一破解技术与管理难题，构建了安全、高效的甲醇 加注模式，为业务常态化开展提供了可靠参考。 此次作业采用陆地撬装式加注设备。加注前期，中国(山东)自贸试验区管委会多次牵头组织专项会议， 联合青岛海事局、黄岛海关、黄岛出入境边防检查站等相关行业专家，系统研讨和评审作业准备、作业 流程、风险点及应急预案等关键环节，精准剖析业务难点，制定切实可行的解决方案，并在作业前组织 开展联合演练，确保了整个加注作业过程安全可控。 中新网青岛8月14日电 "中远海运康乃馨"轮14日在山东港口青岛港完成210吨甲醇加注作业，标志着船 用甲醇加注业务在该港落地。该港成为同时 ...

Group 1 - The Shanghai Composite Index fell by 0.46% to close at 3666.44 points, while the Hang Seng Index decreased by 0.37% to 25519.32 points [1] - Qingdao Port's AH premium reached 43.84%, ranking it 78th in terms of AH stock premium rates [1] - On the closing day, Qingdao Port's A-shares were priced at 8.77 yuan, down 0.79%, and H-shares were at 6.67 HKD, down 1.04% [1] Group 2 - Qingdao Port International Co., Ltd. was established on November 15, 2013, and was listed on the Hong Kong Stock Exchange on June 6, 2014, and on the Shanghai Stock Exchange on January 21, 2019 [1] - The company is a major operator of Qingdao Port, which has been operational since 1892, managing five key port areas: Qianwan, Huangdao Oil Port, Dongjiakou, Dagang, and Weihai [1] - Qingdao Port provides various services including loading and unloading of containers, metal ores, coal, crude oil, logistics, and port value-added services, benefiting from its strategic location as a key international trade hub in Northeast Asia and a significant point on the "Belt and Road" initiative [1]

通过天眼查大数据分析，青岛港国际股份有限公司共对外投资了63家企业，参与招投标项目4026次，知 识产权方面有商标信息3条，专利信息1280条，此外企业还拥有行政许可99个。 来源：金融界 青岛港最新一期业绩显示，截至2025一季报，公司营业总收入48.07亿元、同比增长8.51%，归属净利润 14.02亿元，同比增长6.51%，扣非净利润13.68亿元，同比增长5.83%，流动比率2.104、速动比率 2.099、资产负债率26.03%。 天眼查商业履历信息显示，青岛港国际股份有限公司，成立于2013年，位于青岛市，是一家以从事水上 运输业为主的企业。企业注册资本649110万人民币，实缴资本649110万人民币。公司法定代表人为苏建 光。 金融界消息 截至2025年8月13日收盘，青岛港（601298）报收于8.84元，下跌0.67%，换手率0.29%，成 交量15.69万手，成交金额1.39亿元。 资金流向方面，今日主力资金净流入1421.47万元，占比成交额10.22%。其中，超大单净流入412.63万 元、占成交额2.97%，大单净流入1008.83万元、占成交额7.25%，中单净流出流入709.7 ...