上海国际港务（集团）股份有限公司 独立董事工作制度 （经公司 2023 年年度股东大会审议通过） 公司应当为独立董事依法履职提供必要保障。 第四条 公司独立董事占董事会成员的比例不得低于三分之一，且至少包括 一名会计专业人士。 公司设立董事会审计委员会（以下简称"审计委员会"）。审计委员会成员 为不在公司担任高级管理人员的董事，其中独立董事过半数，并由独立董事中会 计专业人士担任召集人。 1 公司设立董事会提名、薪酬与考核委员会（以下简称"提名、薪酬与考核委 员会"）。提名、薪酬与考核委员会中独立董事过半数并担任召集人。 第二章 独立董事的独立性要求和任职资格 第一章 总则 第一条 为进一步完善上海国际港务（集团）股份有限公司（以下简称"公 司"）公司法人治理结构，促进公司规范运作，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》"）、《上市公司独立董事管理办法》（以下简称"《独董办法》"）、《上 海证券交易所股票上市规则》、《上海国际港务（集团）股份有限公司章程》（以 下简称"公司章程"）等规定，制订本制度。 第二条 独立董事是指不在公司担任除董事外 ...

上海国际港务（集团）股份有限公司 第二节 董事会 1 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 股东和股东大会 第一节 股东 第二节 股东大会的一般规定 第三节 股东大会的召集 第四节 股东大会的提案与通知 第五节 股东大会的召开 第六节 股东大会的表决和决议 第六章 党委 第七章 总裁及其他高级管理人员 第八章 监事会 第一节 监事 第二节 监事会 第九章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第十章 通知与公告 第一节 通知 第二节 公告 第十一章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十二章 修改章程 第十三章 附则 章程 （经公司 2023 年年度股东大会审议通过） 2024 年 4 月 23 日（修订） 目 录 第五章 董事会 第一节 董事 上海国际港务（集团）股份有限公司章程 第一章 总则 第一条 为了维护公司、股东和债权人的合法权益，规范公司的组织和行为， 根据《中国共产党章程》、《中华人民共和国公司法》（以 ...

Dividend Distribution - The proposed cash dividend for 2023 is RMB 1.72 per 10 shares, totaling approximately RMB 40.05 billion (including tax), with a dividend payout ratio of 30.33% [2][4] - The dividend payout ratio for 2022 was 18.93% [2] - Since its listing, the company has generated a net profit exceeding RMB 1,398 billion, with cash dividends amounting to approximately RMB 548 billion [3] Financial Performance - The company's free cash flow for 2023 is estimated at RMB 91.06 billion, down from RMB 115.31 billion in 2022 [3] - The company has a total outstanding entrusted loan balance of approximately RMB 2 billion, with interest rates ranging from 2% to 2.3% [4] - The company's return on equity is reported at 11.25% [4] Corporate Governance - The profit distribution plan is in accordance with the company's articles of association and requires approval from the shareholders' meeting [4] - The company emphasizes the protection of investors' rights, particularly for small and medium-sized shareholders [3][4] Future Strategy - The company aims to consolidate its leading position in the port industry and actively promote the implementation of diversified new businesses during the "14th Five-Year Plan" period [4] - 2024 is identified as a critical year for achieving the goals set in the "14th Five-Year Plan" and for promoting sustainable high-quality development [4]

Investment Rating - The report maintains a "Recommend" rating for Shanghai International Port Group (SIPG) with a target price of 7.1 yuan, representing a 27% upside from the current price of 5.61 yuan [1] Core Views - SIPG's port operations showed steady growth, but investment income faced pressure in 2023 [1] - The company achieved operating revenue of 37.552 billion yuan, a slight increase of 0.73% YoY, while net profit attributable to shareholders dropped 23.34% to 13.203 billion yuan [1] - Container throughput reached 49.158 million TEUs, maintaining SIPG's position as the world's largest container port for 14 consecutive years [1] - Investment income from associates and joint ventures decreased by 40.8% to 7.09 billion yuan, mainly due to the decline in container shipping market conditions [1] Financial Performance Revenue and Profit - 2023 revenue: 37.552 billion yuan (+0.73% YoY) [1] - Net profit: 13.203 billion yuan (-23.34% YoY) [1] - Gross margin: 37.4% (-0.41 ppts YoY) [1] - ROE: 10.72% (-4.61 ppts YoY) [1] Segment Performance - Container business: Revenue of 15.615 billion yuan (-0.88% YoY), gross margin of 43.81% (+2 ppts YoY) [1] - Bulk cargo business: Revenue of 1.547 billion yuan (+2.25% YoY), gross margin of 21.88% (+11.96 ppts YoY) [1] - Port logistics: Revenue of 10.95 billion yuan (-13.25% YoY), gross margin of 22.46% (-5.3 ppts YoY) [1] - Port services: Revenue of 3.567 billion yuan (+37.72% YoY), gross margin of 29.44% (-1.99 ppts YoY) [1] Investment Income - Total investment income from associates and joint ventures: 7.09 billion yuan (-40.8% YoY) [1] - Postal Savings Bank of China: 3.18 billion yuan (+4.72% YoY) [1] - Bank of Shanghai: 1.81 billion yuan (+2.36% YoY) [1] - Orient Overseas: 860 million yuan (-85.8% YoY) [1] Forecast and Valuation - 2024-2026 net profit forecast: 14.066 billion, 14.645 billion, and 15.569 billion yuan respectively [1] - 2024-2026 EPS forecast: 0.60, 0.63, and 0.67 yuan [1] - 2024-2026 PE ratio: 9x, 9x, and 8x [1] - 2024 PB valuation: 1.2x [1]

上 市 公 司 交通运输 2024年04月09日 上港集团 (600018) 公 司 研 究 ——港口主业稳定，投资收益预计回归至正常水平 / 公 司 点 报告原因：有业绩公布需要点评 评 增持 投资要点： （下调） ⚫ 事件：上港集团发布2023 年年报，营业收入 375.52 亿元，同比增长 0.73%，归母净利 润132.03亿元，同比下滑40.21亿元或23.34%。扣非归母净利润125.70亿元，同比下 证 市场数据： 2024年04月08日 券 收盘价（元） 5.58 滑25.55%。基本每股收益0.57元，向全体股东每10股派发现金红利人民币1.72元(含 研 一年内最高/最低（元） 5.99/4.77 税)，共拟派发40.05亿元红利，占归母净利润的30.33%。业绩符合预期。 究 市净率 1.1 报 息率（分红/股价） - ⚫ 归母净利润下滑主要系投资收益减少。2023 年投资收益 71.41 亿元，占归母净利润比重 告 流通A股市值（百万元） 16368 上证指数/深证成指 3357.74/13563.34 54.09%，相较于2022年的120.41亿元下滑40.69%。2023年，宁波 ...

证券代码：600018 证券简称：上港集团 公告编号：临 2024-017 上海国际港务（集团）股份有限公司 关于参与投资上海国有资本投资母基金有限公司的进展公告 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。 一、投资基金前期情况概述 上海国际港务（集团）股份有限公司（以下简称："上港集团"或"公司"） 于 2022 年 11 月 15 日召开了第三届董事会第三十二次会议，审议通过了《上港 集团关于参与发起设立上海国有资本投资母基金有限公司的议案》，董事会同意 公司出资人民币 16 亿元与上海国有资本投资有限公司等多家企业共同发起设立 上海国有资本投资母基金有限公司（以下简称："基金公司"），注册资本为人 民币 185.10 亿元，其中公司认缴出资人民币 16 亿元，持股比例为 8.6440%。2022 年 12 月 14 日，基金公司完成工商注册登记手续，取得了上海市市场监督管理局 颁发的《营业执照》。2023 年 3 月 22 日，基金公司在中国证券投资基金业协会 完成私募投资基金备案。 2023 年 8 月 23 日， ...

证券代码：600018 证券简称：上港集团 公告编号：2024-016 上海国际港务（集团）股份有限公司 关于召开 2023 年年度股东大会的通知 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： 一、召开会议的基本情况 召开的日期时间：2024 年 4 月 23 日 14 点 00 分 召开地点：国际港务大厦多功能厅（上海市东大名路 358 号，太平路入口） (五) 网络投票的系统、起止日期和投票时间。 股东大会召开日期：2024年4月23日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (一) 股东大会类型和届次 2023 年年度股东大会 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四) 现场会议召开的日期、时间和地点 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六) 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资 ...

上港集团 2023 年年度股东大会会议资料 上海国际港务（集团）股份有限公司 2023 年年度股东大会会议资料 1.现场会议时间：2024 年 4 月 23 日（星期二）14:00 2.网络投票时间：2024 年 4 月 23 日（星期二） 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东大会召 开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互联网投票平台的 投票时间为股东大会召开当日的 9:15-15:00。 二、会议地点 国际港务大厦多功能厅（上海市东大名路 358 号，太平路入口） 召开时间：二○二四年四月 三、会议程序 1 上港集团 2023 年年度股东大会会议资料 上海国际港务（集团）股份有限公司 2023 年年度股东大会程序及议程 一、会议召开时间 主持人宣读参加现场股东大会人数，宣布股东大会召开。 2 （一）宣读股东大会须知 （二）宣布股东大会议程并审议议案 1. 审议《2023 年度董事会工作报告》 2. 审议《2023 年度监事会工作报告》 3. 审议《2023 年度财务决算报告》 4. 审议《2023 年度利润分配方案》 ...

Financial Performance - The company's operating revenue for 2023 was approximately ¥37.55 billion, a slight increase of 0.73% compared to ¥37.28 billion in 2022[16]. - Net profit attributable to shareholders decreased by 23.34% to approximately ¥13.20 billion in 2023 from ¥17.22 billion in 2022[16]. - The basic earnings per share for 2023 was ¥0.5691, down 23.33% from ¥0.7423 in 2022[17]. - The weighted average return on equity decreased by 5.00 percentage points to 11.25% in 2023 from 16.25% in 2022[17]. - The net cash flow from operating activities for 2023 was approximately ¥13.41 billion, a decrease of 2.75% from ¥13.79 billion in 2022[16]. - Total assets at the end of 2023 reached approximately ¥203.58 billion, an increase of 11.98% from ¥181.80 billion at the end of 2022[16]. - The net assets attributable to shareholders increased by 9.66% to approximately ¥123.18 billion at the end of 2023 from ¥112.33 billion at the end of 2022[16]. - The company reported a total of ¥558.91 million in government subsidies related to normal business operations in 2023[21]. - Non-recurring gains and losses totaled approximately ¥633.32 million in 2023, compared to ¥339.95 million in 2022[23]. - The company achieved a total cargo throughput of 564 million tons, exceeding the annual budget target by 7.2%[89]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.72 per 10 shares, totaling approximately RMB 4.005 billion based on a total share capital of 23,284,144,750 shares as of December 31, 2023[4]. - The cash dividend amount represents 30.33% of the net profit attributable to the shareholders of the listed company in the consolidated financial statements, which is RMB 13,203,137,528.87[147]. - The company distributed a cash dividend of RMB 0.14 per share, totaling RMB 32.60 billion (including tax) for the 2022 fiscal year[144]. - The cash dividend policy is designed to ensure a minimum distribution of 50% of the distributable profit to shareholders annually, prioritizing cash dividends over stock dividends[144]. - The profit distribution plan for 2023 is subject to approval at the shareholders' meeting scheduled for March 30, 2024[145]. Governance and Compliance - The company has a governance structure that complies with legal and regulatory requirements, ensuring clear division of responsibilities among shareholders, the board, and management[99]. - The board consists of 10 members, including 4 independent directors, ensuring diverse representation and adherence to governance standards[99]. - The company has implemented a performance evaluation and incentive mechanism for senior management, linking compensation to company performance and individual contributions[100]. - The company completed 4 periodic reports and 44 temporary announcements during the reporting period, ensuring timely and accurate information disclosure[101]. - The company maintains a strict insider information management system, preventing insider trading and ensuring compliance with regulations[101]. Strategic Initiatives - The company is committed to building a world-class shipping hub and achieving breakthroughs in technology, regional development, and business types[9]. - The company aims to enhance its role as a global shipping hub by integrating management, capital, and technology, focusing on multi-modal transport development[39]. - The company is focusing on sustainable high-quality development, aligning with national strategies and enhancing its operational resilience[39]. - The company is actively pursuing new technologies and business models to adapt to changing market dynamics and enhance operational efficiency[39]. - The company is committed to digital transformation, with significant advancements in smart port technologies, including the establishment of a digital twin technology platform[40]. Risk Management - The company has outlined potential risks in its management discussion and analysis section, which investors should review[6]. - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors, highlighting the importance of investment risk awareness[5]. - The company faces risks from macroeconomic fluctuations affecting the port industry, as its development is closely tied to the national economy and foreign trade conditions[97]. - The company is in a competitive environment for international container hub ports, with major competitors actively expanding capacity in Northeast Asia[97]. Leadership Changes - The company reported a significant leadership change with the resignation of CEO Yan Jun on July 29, 2023, due to work reasons[112]. - The company appointed Liu Tao as Vice President on July 29, 2023, following the resignation of previous executives due to work requirements[112]. - The company announced the appointment of Yang Huanxin as Vice Financial Director on August 29, 2023, after the previous Vice Financial Director, Yu Wei, stepped down[112]. - The company is undergoing a restructuring of its board and executive team, with multiple appointments and resignations throughout 2023[112]. - The company is focused on enhancing its governance structure through the recent board elections and appointments[112]. Technological Advancements - The company has achieved significant technological advancements, including the completion of key projects related to intelligent port operations and automation[59]. - The company is focusing on technological innovation to build a smart and green port, including the development of intelligent management systems and energy-efficient projects[94]. - The company is investing heavily in research and development, with an increase of 30% in R&D spending compared to last year[109]. - The company is focusing on new technology development, with an investment of 1,000.00 million CNY allocated for software enhancements[82]. Sustainability Efforts - The company is committed to sustainability initiatives, aiming for a 30% reduction in carbon emissions by 2025 through various operational improvements[115]. - The company has undertaken various energy-saving projects, including the installation of shore power facilities and energy-efficient lighting[167]. - The company has engaged in community support activities, including donations and educational assistance to schools in Guizhou and Yunnan provinces[170]. - The company has established a scholarship fund at Shanghai Maritime University, committing 120,000 RMB annually to support outstanding students[170]. Investment and Expansion - The company is actively pursuing strategies to enhance its operational capabilities and market presence through strategic financial maneuvers[197]. - The company plans to expand its market presence by investing in new terminal facilities, with an estimated budget of $500 million for the next fiscal year[115]. - The company is exploring partnerships with international shipping lines to enhance service offerings and expand global reach[115]. - The company is considering the transfer of partial equity in Shanghai Guandong International Container Terminal Co., Ltd.[121]. Internal Controls and Audits - The company has implemented a comprehensive internal control system, with no significant deficiencies reported for the year[156]. - A total of 120 internal audit projects were completed in 2023, with 165 recommendations for improving internal controls and management practices accepted by the audited units[155]. - The company evaluated the annual audit work of PwC Zhongtian and agreed to reappoint them as the external audit firm for 2023[127]. Shareholder Relations - The company is committed to respecting the rights of stakeholders, including shareholders, creditors, and employees, while promoting sustainable development[101]. - The independent directors are actively involved in the decision-making process regarding profit distribution, ensuring the interests of minority shareholders are protected[146]. - The company has not proposed a cash profit distribution plan for the reporting period, as it is not applicable[147].

上海国际港务（集团）股份有限公司董事会审计委员会 对会计师事务所 2023 年度履行监督职责情况报告 根据《中华人民共和国公司法》、《中华人民共和国证券法》、《上 市公司治理准则》、《国有企业、上市公司选聘会计师事务所管理办法》、 《上海国际港务(集团)股份有限公司章程》(以下简称:"《公司章程》"）、 《上海国际港务(集团)股份有限公司董事会审计委员会实施细则》等有 关规定和要求，上海国际港务（集团）股份有限公司（以下简称："上港 集团"或"公司"）董事会审计委员会（以下简称: "审计委员会"）本 着勤勉尽责的原则，认真履行职责，对会计师事务所 2023 年度履职情况 进行了评估和监督，具体情况如下: 一、2023年年审会计师事务所基本情况 (一)会计师事务所基本情况 二、2023 年年审会计师事务所履职情况 按照《审计业务约定书》，遵循《中国注册会计师审计准则》和其他 执业规范,普华永道中天对公司 2023 年度财务报告及 2023 年 12 月 31 日 的财务报告内部控制的有效性进行了审计,同时对公司控股股东及其他关 联方占用资金情况进行核查并出具了专项报告。 普华永道中天会计师事务所(特殊普通合伙) ...