证券代码：600150 证券简称：中国船舶 公告编号：2025-080 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。 中国船舶工业股份有限公司（以下简称"公司"）第九届董事会第五次会议于2025年12月9日以通讯方式 召开，董事会会议通知和材料于2025年12月3日以电子邮件等方式发出。本次会议应参加表决董事11 名，实参加表决董事11名。根据有关法律、法规、规范性文件及《公司章程》的相关规定，本次会议合 法有效。 会议经表决，审议通过了以下预（议）案： 1、 《关于公司2026年度日常关联交易相关情况的预案》 根据公司日常生产经营需要，秉持公平、合理的原则，公司对2026年度日常关联交易额度进行了预计。 内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的公司《关于公司2026年度日常关联 交易的公告》（公告编号：2025-081）。 会前，本预案已经本公司第九届董事会审计委员会第三次会议、独立董事第二次专门会议审议通过。 本预案需提交公司2025年第三次临时股东会审议。 关联董事胡贤甫、张健德、陶涛 ...

格隆汇12月10日｜长江证券研报指出，中国船舶集团与中国远洋海运集团在上海完成新造船项目的合作 签约，合作涉及各型船舶87艘，金额约500 亿元人民币，其中跨境人民币结算约470亿元，成为我国船 企国内单次合作签约金额最高订单，且订单均由中国船舶下属子公司承建。本次新签订单体量大，吸收 合并中国重工后公司综合造船实力提升。截至三季报，中国重工已经纳入公司合并范围，公司手持订单 饱满，订单排期已至28 年底，部分订单已排到2029年，后续业绩释放具备支撑。全年来看，考虑并表 中国重工的影响，预计2025-2026 年公司分别实现归母净利润103.15亿元、181.71亿元，对应PE分别为 25倍及14倍，维持"买入"评级。 ...

Group 1: Market Overview - The Shanghai Composite Index closed at 3910, down 0.37% for the day and down 2.2% over the past five days, but up 0.3% over the past month [1] - The Shenzhen Composite Index closed at 2486, down 0.52% for the day and down 1.32% over the past five days, but up 0.96% over the past month [1] - Large-cap indices fell by 0.37%, mid-cap indices by 0.74%, and small-cap indices by 0.75% yesterday [1] Group 2: Industry Performance - The components industry saw a significant increase of 4.56% yesterday and 92.45% over the past six months [1] - The telecommunications equipment sector rose by 2.63% yesterday and 124.65% over the past six months [1] - The industrial metals sector experienced a decline of 4.04% yesterday, but has increased by 62.28% over the past six months [1] Group 3: Debt Market Insights - The report highlights that low interest rates do not guarantee low volatility in the debt market, as evidenced by the structural break in the relationship between U.S. Treasury yields and volatility since 1990 [10] - In a low interest rate environment, adjustments in the debt market can be rapid and significant, with average adjustment magnitudes of 81 basis points for the U.S., 53 for Germany, 59 for France, and 74 for Japan [10] - The report warns of a potential "high volatility" trap in the debt market, driven by crowded trading behaviors and homogeneous strategies among institutional investors [11][12] Group 4: Economic Recovery and Investment Opportunities - The year 2026 is anticipated to mark a "non-typical" recovery phase, with expectations of improved domestic demand and strong export resilience [12] - The report suggests that the recovery of nominal GDP will likely lead to a rebalancing of funds, which may increase volatility in the debt market [13] - Investment opportunities are highlighted in sectors such as artificial intelligence, robotics, aerospace, and renewable energy, as part of the "15th Five-Year Plan" [17]

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Viewpoints - China Shipbuilding Group has signed a new shipbuilding project with China Ocean Shipping Group in Shanghai, involving 87 vessels with a total value of approximately 50 billion RMB, marking the highest single cooperation contract amount for domestic shipbuilding companies in China [2][4]. - The company has enhanced its comprehensive shipbuilding capabilities following the merger with China Shipbuilding Industry Corporation, leading to a robust order backlog and the expectation of continued growth in new orders throughout the year [2][10]. - The lifting of the U.S. 301 investigation measures has alleviated significant pressure on the sector, resulting in a substantial increase in global new orders in November, with a year-on-year growth of 32% and a month-on-month growth of 62% [10]. - The demand for shipping is improving, particularly for oil tankers, which are expected to follow container ship orders, driven by the need for fleet renewal and environmental considerations [10]. Summary by Relevant Sections Company Overview - The new shipbuilding project includes a wide range of vessel types, such as ultra-large container ships, bulk carriers, and oil tankers, with construction primarily handled by subsidiaries of China Shipbuilding [10]. - The company’s order backlog is robust, with orders scheduled until the end of 2028, and some extending to 2029, indicating strong future revenue support [10]. Financial Projections - For the years 2025 and 2026, the company is projected to achieve net profits of 10.315 billion RMB and 18.171 billion RMB, respectively, with corresponding price-to-earnings ratios of 25 times and 14 times [10]. - The total revenue is expected to grow significantly, with projected revenues of 78.584 billion RMB in 2024, increasing to 254.252 billion RMB by 2027 [14]. Market Dynamics - The global shipping industry is experiencing a recovery, with increasing demand for new vessels and rising second-hand ship prices, indicating a potential turning point for new ship prices [10]. - The company is well-positioned to attract global shipbuilding orders due to its technological, capacity, and cost advantages, reinforcing its status as a leading player in the shipbuilding sector [10].

12月8日，中国船舶集团有限公司旗下江南造船为西南海运有限公司建造的99000立方米超大型液化乙烷运输船（VLEC）"GAS PEONY"号和"GAS VIOLET"号举行命名仪式。"GAS PEONY"号于当日签字交付；"GAS VIOLET"号预计将于2026年1月交付。 该型船具有纸浆运输专业性高、适货性广、经济性好、环保性佳、智能化程度高等特点，可适装高铁列车、风电设备、新能源车、大型机械设备、超长超 重钢管桩结构等多种货品，同时增加"一对一"热成像监测系统和预警系统，有力保障纸浆以及各类货物的运输安全。 建造过程中，山船重工攻克了多用途纸浆运输船背载式舱盖应用、全船除湿系统集成及高精度施工等多项综合性技术难题，通过工艺与管理创新，显著提 升建造效率。 12月8日，中国船舶集团有限公司旗下江南造船为西南海运有限公司建造的99000立方米超大型液化乙烷运输船（VLEC）"GAS PEONY"号和"GAS VIOLET"号举行命名仪式。"GAS PEONY"号于当日签字交付；"GAS VIOLET"号预计将于2026年1月交付。 99000立方米VLEC由江南造船自主研发建造，采用江南自主研发的B型舱货物 ...

Group 1 - The report aims to summarize important internal deep reports, significant commentary, and marginal changes in the macro strategy group of large manufacturing [1] - Key companies highlighted include Yokogawa Precision, Zhejiang Rongtai, Shanghai Yanpu, Taotao Vehicle, Sany Heavy Industry, and XCMG Machinery among others [2][3] - The report maintains a positive outlook on the machinery sector, noting a 14% increase in excavator sales in November, which slightly exceeded expectations [4] Group 2 - The best-performing indices in the last week (December 1-5, 2025) included Nonferrous Metals (+5.35%), Communications (+3.69%), and Defense Industry (+2.82%) [5][20] - The top three indices in the large manufacturing sector were the Yangtze River Engineering Machinery Index (+5.47%), the ChiNext Index (+1.86%), and the Automotive Parts Index (+1.83%) [5][21] Group 3 - The report draws parallels between the current potential of humanoid robots and the past boom of electric vehicles, suggesting a similar macroeconomic backdrop and industry stage could lead to significant investment opportunities [8][9] - The expected market size for humanoid robots is projected to reach $700 billion by 2030, compared to an estimated $570 billion for electric vehicles in 2024 [8] - Investment opportunities are identified in core components and domestic manufacturers, with a focus on companies that meet three necessary conditions: management determination, past performance validation, and future application scenarios [9] Group 4 - The report discusses the rise of Hengli Heavy Industry as a new player in the shipbuilding sector, benefiting from an upturn in shipbuilding demand and improved profitability [10] - The global shipbuilding industry is expected to see a 34.9% increase in new orders in 2024, with specific segments like container ships and oil tankers showing significant growth [10] - Hengli Heavy Industry's competitive advantages include ample production capacity and an integrated supply chain, which are expected to support future performance [10][11] Group 5 - The report highlights the strategic moves of Meilixin, including a planned share buyback and a fundraising initiative aimed at expanding its liquid cooling and semiconductor projects [11][13] - The company is positioned to benefit from its partnerships in the server liquid cooling market, leveraging its manufacturing capabilities and established client relationships [11][13] - Future performance is anticipated to exceed market expectations due to the company's strategic focus on high-demand sectors such as telecommunications and electric vehicles [11][13]

截至发稿，中国船舶市值为2601亿元。 每经头条（nbdtoutiao）——处方药变"瘾品"：国内首次报告普瑞巴林滥用致成瘾病例，网络平台暴 露"无病历可购药"漏洞，列管与否尚需科学考量 每经AI快讯，中国船舶（SH 600150，收盘价：34.56元）12月9日晚间发布公告称，公司第九届第五次 董事会会议于2025年12月9日以通讯方式召开。会议审议了《关于公司2026年度日常关联交易相关情况 的预案》等文件。 2024年1至12月份，中国船舶的营业收入构成为：工业占比98.48%，其他业务占比1.17%，其他行业占 比0.29%，服务业占比0.07%。 （记者 王晓波） ...

中国船舶工业股份有限公司 1 募集资金管理制度 第一章 总 则 第一条 为规范中国船舶工业股份有限公司（以下简称"公司"） 募集资金的管理和使用，提高募集资金使用效益，最大限度地保障投 资者利益，根据《中华人民共和国公司法》《中华人民共和国证券法》 《首次公开发行股票注册管理办法》《上海证券交易所股票上市规则》 《上市公司募集资金监管规则》《上海证券交易所上市公司自律监管 指引第 1 号——规范运作》等法律法规、规章和规范性文件的规定和 要求，结合公司实际，特制定《中国船舶工业股份有限公司募集资金 管理制度》（以下简称"本制度"）。 第二条 本制度所称的募集资金是指公司通过发行股票或者其他 具有股权性质的证券，向投资者募集并用于特定用途的资金，但不包 括公司为实施股权激励计划募集的资金。 本制度所称超募资金是指实际募集资金净额超过计划募集资金 金额的部分。 第三条 公司使用募集资金应当符合国家产业政策和相关法律法 规，践行可持续发展理念，履行社会责任，原则上应当用于主营业务， 有利于增强公司竞争能力和创新能力。 公司董事和高级管理人员应当勤勉尽责，确保公司募集资金安全， 不得操控公司擅自改变或变相改变募集资金 ...

中国船舶工业股份有限公司 章 程 （1998 年 5 月 8 日公司创立大会暨首届股东大会通过） （2006 年 10 月 9 日公司 2006 年度第一次临时股东大会修订） （2007 年 1 月 22 日公司 2007 年度第一次临时股东大会修订） （2007 年 7 月 28 日公司 2007 年度第二次临时股东大会修订） （2007 年 10 月 28 日公司 2007 年度第三次临时股东大会修订） （2008 年 7 月 25 日公司 2008 年度第二次临时股东大会修订） （2009 年 5 月 15 日公司 2008 年年度股东大会修订） （2012 年 5 月 25 日公司 2011 年年度股东大会修订） （2012 年 12 月 20 日公司 2012 年第二次临时股东大会修订） （2013 年 9 月 26 日公司 2013 年第二次临时股东大会修订） (2016 年 8 月 11 日公司 2016 年第一次临时股东大会修订) (2017 年 11 月 29 日公司 2017 年第三次临时股东大会修订) （2020 年 11 月 26 日公司 2020 年第二次临时股东大会修订） （202 ...

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： 证券代码：600150 证券简称：中国船舶 公告编号：2025-084 中国船舶工业股份有限公司 关于 2026 年度开展期货和衍生品交易的公告 交易主要情况 | | □获取投资收益 | | | --- | --- | --- | | 交易目的 | 套期保值（合约类别：商品；外汇；其他：掉期（含利 | | | | 率掉期、汇率掉期）） | | | | □其他：________ | | | 交易品种 | 远期结售汇、比例远期、期权、掉期（含利率掉期、汇率掉期） | | | | 及期货等 | | | 交易金额 | 预计动用的交易保证金和权利金上 限（单位：万美元） | 350,000 | | | 预计任一交易日持有的最高合约价 值（单位：万美元） | 5,100,000 | | 资金来源 | 自有资金 □借贷资金 □其他：___ | | | 交易期限 | 2026年1月1日至2026年12月31日 | | 本事项已经中国船舶工业股份有限公司及子公司（以下合称 ...