Core Insights - The report highlights the significant demand for deep-sea resource exploration in China, driven by the need to secure energy and mineral supply amidst declining domestic resources and high foreign dependency [3]. Group 1: Industry Overview - The deep-sea technology sector encompasses three main application scenarios: production operations (including resource exploration, mining, and infrastructure), public services (such as environmental monitoring and national defense), and deep-sea consumption (like tourism) [1]. - Major listed companies in the industry include China Shipbuilding (600150.SH), China Ship Defense (600685.SH), Zhenhua Heavy Industries (600320.SH), CNOOC Services (601808.SH), China Marine Defense (600764.SH), Hailanxin (300065.SZ), and Zhongtian Technology (600522.SH) [1]. Group 2: Resource Dependency and Production - China's crude oil foreign dependency reached 73% in 2023, while natural gas dependency was at 41.9%. Over 10 mineral types have a foreign dependency exceeding 50%, indicating a critical need for domestic production through deep-sea exploration [3]. - The production of marine crude oil in China is projected to exceed 60% of total production by 2024, with output increasing from 51.62 million tons in 2016 to 65.5 million tons in 2024, reflecting a compound annual growth rate (CAGR) of 3% [4]. - Marine natural gas production is expected to grow from 12.9 billion cubic meters in 2016 to 26.2 billion cubic meters by 2024, achieving a CAGR of 9.3% [7]. Group 3: Emerging Consumption Scenarios - Underwater tourism, characterized by non-diving experiences using submersibles and semi-submersibles, is emerging as a new consumption scenario within the marine tourism industry. This sector is enhanced by underwater photography and virtual reality technologies [8]. - The development of marine tourism is supported by initiatives in Hainan Free Trade Port, where coral reef protection areas are exploring sustainable development models that integrate marine museums and educational programs [8].

Group 1 - Company Zhenhua Heavy Industries announced that as of December 31, 2025, it has repurchased approximately 6.47 million shares, accounting for 0.1228% of the total share capital [1] - The highest purchase price for the repurchased shares was 4.6 yuan per share, while the lowest was 4.42 yuan per share [1] - The total amount spent on the share repurchase was approximately 29.01 million yuan [1]

格隆汇1月4日丨振华重工(600320.SH)公布，截至2025年12月31日，公司已累计回购股份数量为646.96万 股，占公司总股本的比例为0.1228%，购买的最高价为4.60元/股、最低价为4.42元/股，已支付的总金额 为29,006,008.72元(不含交易费用)。 ...

| | | 上海振华重工（集团）股份有限公司 关于以集中竞价交易方式回购公司部分 A 股股票的进展公告 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。 二、回购股份的进展情况 根据《上市公司股份回购规则》、《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关规定，现将公司截至上月末的回购股份的进展情况公告 如下： 2025 年 12 月，公司通过集中竞价交易方式已累计回购股份数量为 100,000 股， 占公司总股本的比例为 0.0019%，回购价格为 4.59 元/股，支付的金额为 459,000.00 元（不含交易费用）。 截至 2025 年 12 月 31 日，公司已累计回购股份数量为 6,469,562 股，占公司 总股本的比例为 0.1228%，购买的最高价为 4.60 元/股、最低价为 4.42 元/股，已 支付的总金额为 29,006,008.72 元（不含交易费用）。本次回购符合法律法规的有 关规定和公司回购股份方案的要求。 三、其他事项 重要内容提示： | 回购方案首次披露日 | 2025/4/ ...

Core Viewpoint - The signing of the "Chuangli" pipe-laying system renovation project between Shanghai Zhenhua Heavy Industries Group and Shanghai Salvage Bureau marks a significant step towards enhancing the operational capabilities and competitiveness of the Shanghai Salvage Bureau in line with national strategic goals [2][5]. Group 1: Project Details - The "Chuangli" pipe-laying system renovation is a key component of the Shanghai Salvage Bureau's 2025 "three constructions and one renovation" project, aimed at upgrading equipment strength and achieving high-quality development [2][5]. - The project will involve the upgrade of the S-lay pipe-laying system, which will be provided by Shanghai Zhenhua Heavy Industries Group, making it the first domestic pipe-laying vessel to utilize a fully domestic management frame solution [6]. Group 2: Technological Advancements - The upgraded "Chuangli" vessel will feature a DP3 dynamic positioning and anchoring system, with a crane capable of lifting 4500 tons and a full rotation crane with a capacity of 3500 tons [6]. - The renovation will enable operations at a maximum water depth of 3000 meters and enhance capabilities for emergency repairs of deep-sea damaged oil and gas pipelines, precise deployment of deep-water oil spill prevention devices, and accurate control of cables in large salvage operations [6]. Group 3: Strategic Importance - The project aligns with the national strategy for transportation and aims to contribute to the construction of a strong transportation nation by enhancing technological research, equipment innovation, and talent development [2][5]. - Shanghai Zhenhua Heavy Industries Group emphasizes its commitment to high-end, intelligent, green, and international development, aiming to create value for customers and ensure high-quality project execution [6].

这一事件让人联想起古希腊的特洛伊木马故事，奥德修斯用华丽的木马作为伪装，藏匿士兵最终攻克特洛伊城。而如今，一些美国政客将这一古老的计谋应 用到现代国际贸易中，把中国的高端港口起重机描绘成藏有安全陷阱的特洛伊木马，以间谍威胁为理由，企图阻碍中国起重机进入美国市场。然而，海岸警 卫队的调查结果狠狠打脸了这些政客——经过全面、无死角的检查，证明振华起重机是完全安全的，安全隐患纯粹是无稽之谈，只是他们借口打压中国制造 业的一种手段。 在当前错综复杂的国际关系中，经济利益、科技竞争与国家安全的界限越来越模糊，这三者的交织碰撞让跨国产业合作充满了变数。最近，美国政府公布了 一项备受关注的调查结果，经过对美国港口92台中国制造的振华起重机进行详细安全检查后，美国海岸警卫队宣布，未发现任何所谓的间谍隐患。这一结论 如同一盆冷水，彻底浇灭了特朗普等美国政客的期待，打破了他们以国家安全为借口替换这些中国起重机的计划。 从中可以看出，美国政府以国家安全为名对中国制造业进行的种种限制，根本不是出于安全考虑，而更多的是源于对中国制造业崛起的焦虑。美国曾试图通 过提高关税等贸易保护政策来遏制竞争对手、维护自身产业的优势，但如今的现实让这 ...

Core Viewpoint - Shanghai Zhenhua Heavy Industries Co., Ltd. has adjusted its total cash dividend distribution for the first half of 2025 from RMB 105,287,070.02 to RMB 105,237,678.78 due to the repurchase of shares, while maintaining the per-share distribution ratio at RMB 0.02 [2][4]. Group 1: Dividend Adjustment - The total cash dividend amount has been adjusted from RMB 105,287,070.02 (including tax) to RMB 105,237,678.78 (including tax) [2]. - The adjustment is due to the repurchase of 2,469,562 A-shares, changing the total number of shares participating in the distribution from 5,264,353,501 to 5,261,883,939 [2][4]. - The per-share distribution remains unchanged at RMB 0.02 [4]. Group 2: Pre-Adjustment Dividend Plan - The initial dividend plan proposed a cash dividend of RMB 0.02 per share (including tax) based on a total share count of 5,268,353,501 shares, resulting in a total cash dividend of RMB 105,287,070.02, which accounted for 30.57% of the net profit attributable to the parent company [3]. Group 3: Post-Adjustment Dividend Plan - Following the share repurchase, the actual number of shares eligible for the dividend is now 5,261,883,939, leading to a total cash dividend of RMB 105,237,678.78 while maintaining the per-share distribution at RMB 0.02 [4][9]. - The company will not distribute any bonus shares or conduct capital reserve transfers [9]. Group 4: Dividend Distribution Details - The cash dividend for A-shares is set at RMB 0.02, while for B-shares, it is USD 0.002823 [8]. - The dividend distribution plan was approved at the second extraordinary general meeting of shareholders on November 17, 2025 [8]. - The total share count for the dividend distribution is adjusted to 5,261,883,939 shares after excluding the repurchased shares [9].

关于上海振华重工（集团）股份有限公司 差异化分红事项之专项法律意见书 国浩律师（上海）事务所 法律意见书 国浩律师（上海）事务所 致：上海振华重工（集团）股份有限公司 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》"）、《上海证券交易所上市公司自律监管指引第 7 号——回购股份》（以下简称"《自律监管指引第 7 号》"）、《上海证券交易所股票 上市规则》（以下简称"《上市规则》"）、《上海证券交易所交易规则》（以下简称 "《交易规则》"）以及《上海振华重工（集团）股份有限公司章程》（以下简称"《公 司章程》"）等相关法律、法规及规范性文件的规定，本所律师就上海振华重工（集 团）股份有限公司（以下简称"公司"）2025 年半年度利润分配涉及的差异化分 红特殊除权除息处理（以下简称"本次差异化分红"）相关事项出具本法律意见 书。 按照律师行业公认的业务标准、道德规范和勤勉尽责的精神，依据本法律意 见书出具日以前已发生或存在的事实，本所律师发表法律意见，并声明如下： 1、本所律师已严格履行法定职责，遵循了勤勉尽责和诚实信用原则，对与 出具本法律意见书有关的所 ...

900947 |振华 B 股 每股分配比例 A 股每股现金红利0.02元，B 股每股现金红利0.002823美元 相关日期 | 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 | 2026/1/6 | － | 2026/1/7 | 2026/1/7 | | Ｂ股 | 2026/1/9 | 2026/1/6 | | 2026/1/16 | 差异化分红： 是 一、 通过分配方案的股东会届次和日期 证券代码：600320 证券简称：振华重工 公告编号：临 2025-060 上海振华重工（集团）股份有限公司 2025年半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： 本次利润分配方案经公司2025 年 11 月 17 日的2025年第二次临时股东会审议通过。 二、 分配方案 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上海分 公司（以下简称"中国结算上海分公司"） ...

证券代码：600320 900947 证券简称：振华重工 振华 B 股 公告编号：临 2025-059 上海振华重工（集团）股份有限公司 关于调整 2025 年半年度利润分配总额的公告 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。 二、调整后利润分配方案 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号—回购股份》有关规定，公司回购专用账户中的股份，不享有利润分配的权 利。公司回购专用证券账户中的股份将不参与公司本次利润分配。 重要内容提示： 现金分红总额调整：上海振华重工（集团）股份有限公司（以下简称公 司）2025 年半年度利润分配拟派发现金分红总额由人民币 105,287,070.02 元（含 税）调整为 105,237,678.78 元（含税）。 调整原因：公司自 2025 年半年度利润分配方案披露之日至本公告披露日， 公司以集中竞价交易方式已累计回购 A 股股份 2,469,562 股，导致本次实际参与 分 配 的 股 份 数 发 生 变 动 ， 公 司 实 际 参 与 本 次 利 润 分 ...