关于 长发集团长江投资实业股份有限公司 2025 年第一次临时股东大会 上海普世万联律师事务所 上海市娄山关路 523 号 1 座 3 楼 电话: 021- 52988666 传真: 021-62317688 www.pushiwanlian.com 上海普世万联律师事务所 关于长发集团长江投资实业股份有限公司 2025 年第一次临时股东大会之法律意见书 致:长发集团长江投资实业股份有限公司 上海普世万联律师事务所接受长发集团长江投资实业股份有限公司(以下简 称"公司"）委托,指派闵顺杰律师、朱立阳律师出席公司 2025 年第一次临时 股东大会（以下简称"本次大会"），并就本次大会所涉及的召集、召开程序、 出席会议人员的资格、召集人资格、会议的表决程序、表决结果等相关问题发表 法律意见。 本法律意见书根据《中华人民共和国公司法》、《中华人民共和国证券法》、 《上市公司股东大会规则》及其他相关法律、法规、规章及规范性文件(以下合 称"法律法规"）以及《长发集团长江投资实业股份有限公司章程》（以下简称 "《公司章程》"）的规定出具。 之 法律意见书 本法律意见书仅供公司为本次股东大会之目的使用,不得被其他任何人用 ...

证券代码：600119 证券简称：长江投资 公告编号：2025-027 长发集团长江投资实业股份有限公司 2025年第一次临时股东大会决议公告 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 9 月 12 日 (二)股东大会召开的地点：上海市青浦区佳杰路 99 弄 A2 栋会议中心小报告厅 (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 | 127 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 180,273,006 | | 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（%） | 49.3533 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 会议表决方式符合《公司法》及《公司章程》的规定，大会由董事长鲁国锋先生 主持。 (五)公司董事、监事和董事会秘书的出席 ...

8月25日，长江投资发布2025年半年报。报告显示，公司上半年营业收入为8948.49万元，同比下降 74.63%；归母净利润为-960.47万元，同比增长36.24%；扣非归母净利润为-1056.62万元，同比增长 27.11%；基本每股收益-0.03元。 筹码集中度方面，截至2025年上半年末，公司股东总户数为2.64万户，较一季度末下降了1115户，降幅 4.05%；户均持股市值由一季度末的9.36万元增加至10.75万元，增幅为14.85%。 资料显示，长发集团长江投资实业股份有限公司位于上海市青浦区佳杰路89号6号楼4楼，成立日期1997 年11月28日，上市日期1998年1月15日，公司主营业务涉及现代物流、气象科技和其他产业投资三类。 长江投资所属申万行业为：交通运输-物流-跨境物流。所属概念板块包括：小盘、智慧物流、快递概 念、跨境电商、长三角一体化等。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 报告期内，长江投资基本每股收益为-0.03元，加权平均 ...

Group 1 - The stock of Changjiang Investment (600119) closed at 8.7 yuan on September 3, 2025, down 3.65% with a turnover rate of 2.74% and a trading volume of 100,100 hands, resulting in a transaction amount of 89.23 million yuan [1] - On September 3, the net outflow of main funds was 9.22 million yuan, accounting for 10.33% of the total transaction amount, while the net inflow of speculative funds was 11.13 million yuan, accounting for 12.47% [1] - The company's main business includes modern logistics, meteorological technology, and other industrial investments [2] Group 2 - As of the 2025 mid-year report, Changjiang Investment's main revenue was 89.48 million yuan, a year-on-year decrease of 74.63%, and the net profit attributable to shareholders was -9.60 million yuan, a year-on-year increase of 36.24% [2] - The company has a total market value of 3.178 billion yuan, which is significantly lower than the logistics industry average of 17.37 billion yuan, ranking 43rd out of 54 in the industry [2] - The company's gross profit margin is 20.55%, which is higher than the industry average of 14.56%, ranking 13th out of 54 [2]

Core Viewpoint - The company is convening a temporary shareholders' meeting on September 12, 2025, to discuss and vote on five key proposals, including the cancellation of the supervisory board and amendments to the company's articles of association [1][4]. Group 1: Meeting Details - The meeting will take place at the conference center in Qingpu District, Shanghai, at 14:00 [1]. - All registered shareholders or their authorized representatives are entitled to participate [1]. - The meeting will be presided over by Chairman Lu Guofeng [1]. Group 2: Agenda and Voting Rights - The agenda includes five proposals, with the first proposal requiring a special resolution needing approval from over two-thirds of the voting rights held by attending shareholders [4]. - Other proposals will require a simple majority of over half of the voting rights [5]. - Shareholders must fill out a "Shareholder Speech Registration Form" to speak during the meeting, with a time limit of five minutes per speaker [2]. Group 3: Key Proposals - Proposal 1: The cancellation of the supervisory board and amendments to the articles of association, transferring the supervisory functions to the audit committee of the board [4][6]. - Proposal 2: Amendments to the shareholders' meeting rules to enhance operational mechanisms and governance capabilities [8]. - Proposal 3: Amendments to the board meeting rules to improve decision-making and operational standards [9]. - Proposal 4: Amendments to the independent director system to clarify responsibilities and enhance management [10]. - Proposal 5: Amendments to the related party transaction implementation rules to regulate transactions and protect shareholder rights [11]. Group 4: Article Amendments - The amendments to the articles of association will include the removal of the supervisory board section, renaming the "shareholders' meeting" to "shareholders' assembly," and reducing the proposal threshold from 3% to 1% of shares held [6]. - The total number of articles in the revised articles of association will decrease from 238 to 230 [6].

长发集团长江投资实业股份有限公司 2025年第一次临时股东大会 长发集团长江投资实业股份有限公司 二〇二五年九月 1 2 长发集团长江投资实业股份有限公司 2025 年第一次临时股东大会会议议程 一、时间：2025 年 9 月 12 日（星期五）下午 14 时 二、地点：上海市青浦区佳杰路 99 弄 A2 栋会议中心小报告厅 三、出席人员： 1.本公司董事、监事及其他高级管理人员； 2.2025 年 9 月 5 日（星期五）下午 3:00 交易结束后在中国证券 登记结算有限责任公司上海分公司登记在册的本公司股东或授权委 托人。 四、主持：鲁国锋董事长 五、会议议程： 1.审议《关于取消监事会暨修订<公司章程>的议案》； | | | | 1．股东大会会议议程 ……………………………………………… p3 | | | --- | --- | | 2．股东大会会议议事规则 ………………………………………… | p5 | | 3．会议议案表决办法 ……………………………………………… p6 | | | 4．关于取消监事会暨修订《公司章程》的议案……………………p7 | | | 5.关于修订《长发集团长江投资实业股份有限 ...

Core Viewpoint - The financial performance of Changjiang Investment (600119) for the first half of 2025 shows significant declines in revenue and mixed results in profitability metrics, indicating challenges in the company's operations and financial health [1]. Financial Performance Summary - Total revenue for the first half of 2025 was 89.48 million yuan, a decrease of 74.63% year-on-year [1]. - The net profit attributable to shareholders was -9.60 million yuan, an improvement of 36.24% compared to the previous year [1]. - The gross profit margin increased to 20.55%, up 339.21% year-on-year, while the net profit margin was -5.90%, a slight improvement of 1.18% [1]. - The total of selling, administrative, and financial expenses reached 24.15 million yuan, accounting for 26.98% of total revenue, which is a significant increase of 207.68% year-on-year [1]. - Earnings per share were -0.03 yuan, showing a year-on-year increase of 36.59% [1]. Balance Sheet Highlights - Cash and cash equivalents decreased by 12.40% to 174 million yuan [1]. - Accounts receivable dropped by 73.60% to 56.78 million yuan, attributed to the recovery of receivables by a subsidiary [3]. - The company's total liabilities decreased slightly by 2.51% to 171 million yuan [1]. Expense Analysis - Sales expenses decreased by 37.33% due to reduced business activities [11]. - Management expenses fell by 21.42%, reflecting the impact of business contraction [11]. - Financial expenses increased by 84.11%, primarily due to foreign exchange losses [11]. Cash Flow Insights - Operating cash flow per share increased by 6.4% to 0.07 yuan, indicating a slight improvement in cash generation [1][12]. - The net cash flow from operating activities showed a decline due to reduced sales and procurement payments [12]. Investment and Financing Activities - The net cash flow from investing activities decreased by 129.17%, reflecting increased expenditures on financial products [13]. - The net cash flow from financing activities increased by 78.48%, influenced by changes in leasing obligations [13]. Overall Assessment - The company's historical financial performance has been generally poor, with a median ROIC of -2.61% over the past decade [14]. - The company has faced significant operational challenges, with a history of losses and limited investment returns [14].

Core Viewpoint - The financial performance of Changjiang Investment (600119) for the first half of 2025 shows significant declines in revenue and a negative net profit, despite some improvements in profit margins and cash flow metrics [1][5]. Financial Performance Summary - Total revenue for the first half of 2025 was 89.48 million yuan, a decrease of 74.63% year-on-year [1]. - The net profit attributable to shareholders was -9.60 million yuan, an increase of 36.24% compared to the previous year [1]. - The gross margin improved to 20.55%, up 339.21% year-on-year, while the net margin was -5.90%, a slight improvement of 1.18% [1]. - The total of selling, administrative, and financial expenses reached 24.15 million yuan, accounting for 26.98% of total revenue, which is a significant increase of 207.68% year-on-year [1]. Cash Flow and Asset Management - Operating cash flow per share was 0.07 yuan, an increase of 6.4% year-on-year [1]. - The company reported a decrease in cash and cash equivalents, with monetary funds at 174 million yuan, down 12.40% [2]. - Accounts receivable decreased by 73.60% to 56.78 million yuan, indicating improved collection efforts [2]. Changes in Financial Items - Accounts payable increased by 30.01%, reflecting increased procurement activities by subsidiaries [2]. - The company experienced a 100% decrease in construction in progress, as it was transferred to long-term deferred expenses [2]. - The financial expenses rose by 84.11%, attributed to foreign exchange losses in the current period [5]. Business Operations and Strategy - The decline in revenue was primarily due to the contraction of businesses in subsidiaries such as Changfa International Freight and Changjiang Hong Kong, with no new business added during the reporting period [5]. - The management team is committed to implementing strategies to drive the development of core business operations [4].

2025年8月26日，长江投资(600119.SH)发布2025年中报。 公司营业总收入为8948.49万元。归母净利润为-960.47万元，较去年同报告期归母净利润增加546.03万元。经营活动现金净流入为2397.28万元，较去年同报 告期经营活动现金净流入增加144.15万元，实现2年连续上涨，同比较去年同期上涨6.40%。 公司最新资产负债率为53.97%。 公司最新毛利率为20.55%，较去年同期毛利率增加15.87个百分点。最新ROE为-7.73%，较去年同期ROE增加0.16个百分点。 公司摊薄每股收益为-0.03元，较去年同报告期摊薄每股收益增加0.02元。 公司最新总资产周转率为0.17次。最新存货周转率为1.48次。 公司股东户数为2.64万户，前十大股东持股数量为2.10亿股，占总股本比例为57.57%，前十大股东持股情况如下： | 序号 | 股东名称 | 持股 | | --- | --- | --- | | l | 长江经济联合发展(集团)股份有限公司 | 45.8 | | 2 | 武汉金融控股(集团)有限公司 | 3.01 | | 3 | 科力尔电机集团股份有限公司 | 2.53 | ...

Section 1: Core Insights - The company has decided to terminate its photovoltaic sea freight export business due to changes in the competitive environment and operational risks in the photovoltaic industry, leading to a significant decline in international freight forwarding revenue [1][2] - The automotive logistics business of the subsidiary, Shihau International, has also seen a substantial decrease in revenue, primarily due to a decline in demand for imported luxury cars and the termination of key customer contracts [3] Section 2: Company Overview - The company has announced the cancellation of its supervisory board and the revision of its articles of association, with the supervisory board's functions being transferred to the audit committee of the board of directors [4][5] - The main amendments to the articles of association include the removal of the supervisory board section, renaming the "shareholders' meeting" to "shareholders' assembly," and lowering the shareholding percentage required for shareholder proposals from 3% to 1% [6]