国浩律师（上海）事务所 关于 中远海运能源运输股份有限公司 2025 年度向特定对象发行 A 股股票 之 法律意见书 上海市山西北路 99 号苏河湾中心 25-28 层 邮编：200085 25-28/F, Suhe Centre, 99 North Shanxi Road, Jing'an District, Shanghai 200085, China 电话/Tel:(+86)(21)52341668 传真/Fax: (+86)(21)52433320 网址/Website: http://www.grandall.com.cn 二〇二五年四月 | 释 义 2 | | --- | | 第一节 引言 5 | | 第二节 正文 7 | | 一、本次发行上市的批准和授权 7 | | 二、发行人本次发行上市的主体资格 14 | | 三、本次发行上市的实质条件 16 | | 四、发行人的设立 18 | | 五、发行人的独立性 18 | | 六、发起人或股东（实际控制人） 21 | | 七、发行人的股本及其演变 23 | | 八、发行人的业务 24 | | 九、关联交易及同业竞争 24 | | 十、发行人的主要财产 ...

中远海运能源运输股份有限公司 2024 年度 审计报告 | 索引 | 页码 | | --- | --- | | 审计报告 | 1-5 | | 公司财务报表 | | | 合并资产负债表 | 1-2 | | 母公司资产负债表 | 3-4 | | 合并利润表 | 5 | | 母公司利润表 | 6 | | 合并现金流量表 | 7 | | 母公司现金流量表 | 8 | | 合并股东权益变动表 | 9-10 | | 母公司股东权益变动表 | 11-12 | | 财务报表附注 | 13-120 | 6-1-1 审计报告 XYZH/2025BJAA13B0265 中远海运能源运输股份有限公司 中远海运能源运输股份有限公司全体股东: 一、审计意见 我们审计了中远海运能源运输股份有限公司(以下简称中远海能)财务报表,包括 2024 年 12 月 31 日的合并及母公司资产负债表,2024年度的合并及母公司利润表、合 并及母公司现金流量表、合并及母公司股东权益变动表,以及相关财务报表附注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公允反 映了中远海能 2024年 12月 31日的合并及母公司财务状况以及 ...

Financial Performance - The company reported a significant increase in revenue, reaching approximately $1.2 billion for the fiscal year ending December 31, representing a year-over-year growth of 15%[15]. - The company's revenue for 2024 reached RMB 23,133.5 million, an increase of 2.6% compared to RMB 22,553.5 million in 2023[16]. - The profit before tax for 2024 was RMB 5,243.1 million, up 9.4% from RMB 4,790.9 million in 2023[16]. - The net profit attributable to equity holders for 2024 was RMB 4,038.1 million, representing a 19.5% increase from RMB 3,379.2 million in 2023[16]. - Basic earnings per share for 2024 were RMB 0.8464, compared to RMB 0.7083 in 2023, reflecting a growth of 19.5%[16]. - The gross profit for the fiscal year 2024 was RMB 6,243,407 thousand, a decrease of 5.23% from RMB 6,587,454 thousand in 2023[183]. - The company reported a pre-tax profit of RMB 5,243,098 thousand for 2024, an increase of 9.4% from RMB 4,790,886 thousand in 2023[183]. Market Expansion and Strategy - The company provided an optimistic outlook for the next fiscal year, projecting a revenue growth of 10% to 12% based on anticipated market expansion and new product launches[15]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next three years[15]. - A strategic acquisition of a smaller competitor was completed, expected to contribute an additional $200 million in annual revenue[15]. - The company aims to enhance its competitiveness and innovation while fulfilling its mission of being a global leader in energy transportation[93]. - The company aims to transition towards becoming a "resource integrator" and "solution provider" in the energy transportation sector[25]. Operational Efficiency and Cost Management - Cost management initiatives have led to a 5% reduction in operational expenses, improving overall profitability margins[15]. - Investment in new technologies and product development increased by 25%, totaling $150 million, aimed at enhancing operational efficiency and service quality[15]. - The total operating costs for the main business reached approximately RMB 16.890 billion, an increase of 5.8% year-on-year[55]. - The fuel costs for oil transportation increased by 6.0% to RMB 5.335 billion, while the crew costs decreased by 2.7% to RMB 2.281 billion[56]. Fleet Development and Capacity - The fleet development strategy includes the addition of 10 new vessels, enhancing capacity by 15% to meet growing demand[15]. - The company maintained a strong market position in oil and LNG transportation, with a fleet of 159 oil tankers totaling 23.74 million deadweight tons as of December 31, 2024[22]. - As of December 31, 2024, the group has invested in a total of 87 LNG vessels, with 50 vessels already in operation, totaling 8.42 million cubic meters[24]. - The group operates 11 LPG vessels with a total capacity of 42,599 cubic meters, and has 2 LPG vessels under construction with a capacity of 15,300 cubic meters as of December 31, 2024[24]. - The group has 8 chemical transportation vessels with a total deadweight tonnage of 72,940 tons, and 1 vessel under construction with a deadweight tonnage of 11,500 tons as of December 31, 2024[25]. Safety and Compliance - Safety management protocols have been enhanced, maintaining a leading position in the industry with a 98% safety compliance rate[15]. - The company has implemented compliance procedures to ensure adherence to various laws and regulations, including the Civil Code and Company Law of the People's Republic of China[197]. - The company has successfully complied with significant laws and regulations affecting its operations during the reporting period[200]. Shareholder Engagement and Governance - The company held four shareholder meetings in 2024, passing 26 resolutions, ensuring effective communication with shareholders[118]. - The board of directors is committed to enhancing shareholder value and has adhered to corporate governance principles throughout the reporting period[117]. - The company has implemented a stock option incentive plan for 2023, granting a total of 22,309,600 stock options, which represents approximately 0.589% of the total share capital as of October 26, 2023[113]. - The board consists of 9 members, including 4 independent non-executive directors, ensuring compliance with listing rules requiring at least one-third of the board to be independent[122]. Future Projections and Industry Trends - In 2024, global oil demand is projected to average 102.8 million barrels per day, an increase of 840,000 barrels per day compared to 2023[28]. - The global oil supply is expected to increase by approximately 630,000 barrels per day in 2024, reaching 102.9 million barrels per day, driven mainly by production growth in non-OPEC countries[28]. - By 2025, global oil demand is expected to increase by 1.1 million barrels per day, primarily driven by growth in China and India[86]. - The global LNG trade volume is projected to grow by 6.4% to 43.9 million tons by 2025, with liquefaction capacity expected to reach 529 million tons, a year-on-year increase of 10.9%[90]. Risk Management - The company faces risks from macroeconomic fluctuations, which significantly impact the demand for shipping of bulk resources like oil and gas[188]. - The company is navigating uncertainties in the global political economy, which may affect the energy transportation market[188]. - The company has established a risk management and internal control system deemed sufficient and effective during the reporting period[166]. Environmental and Sustainability Initiatives - The company aims to peak its carbon emissions from its owned tanker fleet by 2030 and achieve carbon neutrality by 2050, with ongoing initiatives in biofuel applications and methanol dual-fuel supertankers[196]. - The company will focus on low-carbon development and optimize its fleet structure while managing carbon emissions[99].

A股港口航运板块异动拉升，连云港涨超6%，招商轮船、中远海能、重庆港、锦江航运、青岛港跟 涨。 ...

Group 1: Oil Tanker Market - VLCC, Suez, and Aframax rates have all exceeded $50,000/day, indicating a potentially strong market despite the seasonal downturn [1] - VLCC rates increased by 15% to $51,289/day this week, driven by a relatively abundant cargo supply post-Easter [2] - Suezmax rates rose by 3% to $58,839/day, while Aframax rates decreased by 8% to $51,676/day, reflecting mixed performance across different vessel types [2] Group 2: Shipping and Logistics - The dry bulk index (BDI) increased by 8.9% to 1,373 points, with large vessel rates recovering while smaller vessel rates remain strong [2] - The SCFI index for container shipping fell by 1.7% to 1,347.84 points, with European routes seeing a 4.3% decline [2] - The logistics sector is expected to benefit from policy support aimed at optimizing costs, with major players likely to gain market share through pricing strategies [3] Group 3: Rail and Road Transport - Railway freight volume and highway truck traffic remain strong during the off-season, with a new railway project expected to enhance coal transportation capacity significantly [4] - The project aims to create a 15 million tons/year coal transport capacity, addressing logistical challenges in coal transportation from Xinjiang [4]

金融界4月23日消息，A股三大指数收盘涨跌不一，中证油气产业指数 (油气产业，H30198)上涨1.05%， 报1713.36点，成交额155.36亿元。 数据统计显示，中证油气产业指数近一个月下跌6.82%，近三个月下跌4.76%，年至今下跌8.39%。 跟踪油气产业的公募基金包括：国泰中证油气产业联接A、国泰中证油气产业联接C、国泰中证油气产 业ETF。 从中证油气产业指数持仓的市场板块来看，上海证券交易所占比71.86%、深圳证券交易所占比 28.14%。 从中证油气产业指数持仓样本的行业来看，能源占比62.08%、原材料占比20.17%、工业占比14.79%、 金融占比1.86%、公用事业占比1.10%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样 本中剔除。样本公司发生收购、合并、分拆等情形的处理，参照计算与维护细则处理。 据了解，中证油气产业指数从沪深市场中选取业务涉 ...

国浩律师（上海）事务所 关于 中国远洋海运集团有限公司 增持中远海运能源运输股份有限公司股份 之 专项核查意见 上海市山西北路 99 号苏河湾中心 25-28 层 邮编：200085 25-28/F, Suhe Centre, 99 North Shanxi Road, Jing'an District, Shanghai 200085, China 电话/Tel:(+86)(21)52341668 传真/Fax: (+86)(21)52433320 网址/Website: http://www.grandall.com.cn 二〇二五年四月 国浩律师（上海）事务所 专项核查意见 国浩律师（上海）事务所 关于中国远洋海运集团有限公司 增持中远海运能源运输股份有限公司股份之 专项核查意见 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》"）、《上市公司收购管理办法》（以下简称"《收购管理 办法》"）等法律、法规及有关规范性文件的规定，国浩律师（上海）事务所（以下 简称"本所"）接受委托，就中国远洋海运集团有限公司（以下简称"中远海运集 团"或"增持人"）于 ...

证券代码：600026 证券简称：中远海能 公告编号：2025-023 中远海运能源运输股份有限公司 关于控股股东增持计划实施完毕暨增持结果的公告 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。 重要内容提示： 一、 增持主体的基本情况 二、 增持计划的主要内容 基于对公司未来发展前景的坚定信心及中长期价值的认可，为增强投资者对 公司的投资信心，提升公司价值，切实维护广大投资者利益，公司间接控股股东 中远海运集团计划自 2024 年 10 月 21 日起 6 个月内，通过上海证券交易所交易 1 增持计划主要内容：本公司间接控股股东中国远洋海运集团有限公司（以下 简称"中远海运集团"）计划自 2024 年 10 月 21 日起 6 个月内，以专项贷款 及自有资金通过上海证券交易所以集中竞价交易方式增持公司 A 股股份，增 持股份总金额不低于人民币 6.79 亿元，不超过人民币 13.58 亿元。 增持计划实施结果：自增持计划公布以来，截至本公告披露之日，中远海运 集团通过上海证券交易所交易系统以集中竞价交易方式累计增持公司 A ...

智通财经4月16日电，香港交易所信息显示，花旗集团在中远海能的持股比例于04月10日从8.24%降至 7.91%。 ...

Investment Rating - The report maintains an "Outperform" rating for the transportation industry [1][4][7]. Core Views - The report highlights the impact of US-China tariffs on shipping patterns, suggesting a focus on domestic demand and high-dividend sectors [1][3]. - The oil shipping market remains strong, but VLCC rates have declined due to tariff uncertainties, with potential recovery if US-China negotiations succeed [1][21]. - The air travel market is expected to stabilize in 2025, with domestic airlines showing signs of recovery in profitability [2][45]. - The express delivery sector shows resilience, with major players like SF Express and ZTO Express expected to maintain growth despite competitive pressures [3][55][59]. Summary by Sections Shipping Sector - Oil shipping rates have shown fluctuations, with VLCC rates impacted by tariff policies and global economic uncertainties [1][21]. - The report recommends companies like COSCO Shipping Energy and China Merchants Energy for their potential value amidst market volatility [1][25]. Aviation Sector - Domestic passenger flight volumes are stabilizing, with a year-on-year increase expected in 2025 [2][45]. - Major airlines like Air China and China Southern Airlines are projected to recover profitability as supply-demand gaps narrow [2][45]. Express Delivery Sector - The express delivery market is experiencing strong growth, particularly in Southeast Asia and China, with companies like SF Express and ZTO Express leading the way [3][55][59]. - The report emphasizes the importance of monitoring pricing trends in the express delivery sector due to competitive dynamics [3][59]. Investment Recommendations - The report suggests focusing on companies with stable operations and potential for steady returns, including SF Express, ZTO Express, and major airlines [3][2][45].