Core Insights - The company reported a revenue of 17.396 billion yuan for the first half of 2025, a year-on-year increase of 0.97% [1] - The net profit attributable to shareholders was approximately 344 million yuan, reflecting a year-on-year growth of 12.37% [1] - The company signed contracts worth 3.586 billion USD in the first half of the year, with port machinery accounting for 87.48% of the total [1][2] Company Overview - Zhenhua Heavy Industries is a well-known player in the global heavy equipment manufacturing industry, focusing on port machinery, offshore engineering, and steel structures [1] - The company is a state-controlled A and B share listed entity, with its major shareholder being China Communications Construction Company, a Fortune Global 500 company [1] - The company has multiple production bases in Shanghai and Jiangsu, and operates several overseas branches, with products delivered to over 110 countries and regions [1] Business Performance - The company maintained its leading position in the port machinery sector, entering its 110th country with a contract for the Casablanca port project in Morocco [2] - The offshore engineering market competitiveness has improved, with contracts signed for two wind power operation vessels in France [2] - The steel structure business has made progress with projects in Australia, and the company has achieved breakthroughs in industrial logistics and low-carbon port equipment [2] Market Trends - The company anticipates new opportunities from the high-end, intelligent, and green transformation of the manufacturing industry [3] - The Middle East's "2030 Vision" and Southeast Asia's infrastructure plans are expected to drive new overseas demand for port machinery [3] - The global shipping industry is accelerating its transition to green and low-carbon solutions, which is expected to boost demand for offshore engineering equipment [3]

市场开拓。公司港机产品进入第 110 个国家和地区，中标摩 洛哥卡萨布兰卡港项目，继续保持港机行业龙头地位；高端 海工市场竞争力持续增强，签订法国 LDA 两艘风电运维母船； 钢结构业务落地澳大利亚墨尔本东北线钢桥等项目，内河业 务市场开拓取得新突破，其他业务稳步发展。二是优化经营 体系和客户服务。强化一体化管理，制修订公司经营体系管 理办法；强化驻外机构建设，加强属地经营协同，提升经营 质效。树牢"以客户为中心"的服务理念，完善全球服务网 络建设，提升客户响应速度。三是强化降本增效。聚焦"一 利五率"指标，完善考核指标体系建设；加强全面预算系统 建设，推动预算管理与业务流程深度融合，提升预算精准度 和执行力。强化供应链管理，优化采购方案，有效控制采购 价格。 上海振华重工（集团）股份有限公司 2025 年度"提质增效重回报"行动方案 半年度评估报告 上海振华重工（集团）股份有限公司（以下简称公司） 为深入贯彻中央经济工作会议和中央金融工作会议精神，响 应上海证券交易所《关于开展沪市公司"提质增效重回报" 专项行动的倡议》，制定了《2025 年度"提质增效重回报" 行动方案》，公司根据行动方案内容，积极开展和 ...

中交财务有限公司风险持续评估报告 一、中交财务有限公司基本情况 中交财务有限公司（以下简称"财务公司"）是经中国银 行业监督管理委员会批准，于 2013 年 7 月成立的非银行金 融机构。公司金融许可证机构编码 L0071H211000001，营业 执照统一社会信用代码 91110000071677369E。 财务公司根据现代公司治理结构要求，按照"三会分设、 三权分开、有效制约、协调发展"的原则，设立股东会、董 事会、监事会和经理层。财务公司贯彻国资委及集团要求， 落实党组织研究讨论董事会、经理层决策重大问题的前置程 序。财务公司股东会、董事会、监事会和经理层依照相关议 事规则和管理制度行使决策权、监督权、管理权，并承担相 应的义务和责任，形成决策系统、执行系统、监督反馈系统 互相制衡的公司组织结构。 财务公司董事会下设审计委员会、风险管理委员会、战 略委员会、薪酬与考核委员会。其中，审计委员会负责监督 公司内部审计制度及其实施、审查公司内控制度等，并就董 事会会议提案中涉及委员会职责的内容进行预审；风险管理 委员会负责拟定各项风险管理制度、定期评估公司的风险管 理状况、审议重大风险事项等，并就董事会会议提 ...

证券代码：600320 900947 证券简称：振华重工 振华 B 股 公告编号：临 2025-039 曹陆女士：1983 年出生，中国国籍，硕士研究生学历。2010 年 3 月参加工 作，2015 年 5 月起先后任振华重工财务资金部主管、中交投资开发启东有限公 司财务负责人、振华重工战略、人力资源与综合保障中心证券部总经理助理，2021 年 12 月起任振华重工战略发展部（董监事会办公室）副总经理（副主任）。 截至本公告披露日，曹陆女士未持有公司股票，与持有公司 5%以上股份的 股东、实际控制人、公司董事、高级管理人员不存在关联关系，不存在《公司法》 《上海证券交易所股票上市规则》等规定的不得任职的情形，其任职资格符合相 关法律法规、规范性文件的有关规定。 上海振华重工（集团）股份有限公司（以下简称振华重工或公司）于 2025 年 8 月 29 日召开第九届董事会第十五次会议，审议通过了 《关于审议<聘任公 司证券事务代表>的议案》。同意聘任曹陆女士担任公司证券事务代表，任期自董 事会审议通过之日起至第九届董事会的任期届满之日止。 曹陆女士已取得上海证券交易所董事会秘书任职培训证明，具备履行职责所 必需的 ...

根据《公司法》《公司章程》等相关规定，上海振华重工（集团）股份有限 公司（以下简称公司）于 2025 年 8 月 29 日召开职工代表大会，本次会议的召集、 召开和表决程序符合职工代表大会的相关规定。 经职工代表大会审议通过，选举王成先生（简历见附件）为公司职工董事， 任期自本次职工代表大会通过之日起至公司第九届董事会任期届满之日止。王成 先生由原公司第九届董事会非职工董事，调整为公司第九届董事会职工董事，董 事会构成人员不变。 王成先生的任职资格符合相关法律法规、行政法规、规范性文件对董事任职 资格的要求，不存在《公司法》《上海证券交易所股票上市规则》及《公司章程》 等规定的不得担任公司董事的情形，不属于失信被执行人，未受到过中国证监会 及其他有关部门的处罚以及证券交易所的惩戒和公开谴责，亦不存在因涉嫌犯罪 被司法机关立案侦查或因涉嫌违法违规被中国证监会立案稽查的情形，不存在被 中国证监会采取不得担任上市公司董事的市场禁入措施的情形，不存在被证券交 易场所公开认定为不适合担任上市公司董事的情形。 证券代码：600320 900947 证券简称：振华重工 振华 B 股 公告编号：临 2025-043 上海振华 ...

上海振华重工（集团）股份有限公司 关于 2025 年度对外担保计划进展的公告 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： 担保对象及基本情况 | | | 被担保人名称 本次担保金额 | ZPMC 268.95 | Korea Co., Ltd 万元 | | --- | --- | --- | --- | --- | | 担 保 象一 | 对 | 实际为其提供的担保余额 | 6,681.22 | 万元 | | | | 是否在前期预计额度内 | 是 | | | | | 本次担保是否有反担保 | 否 | | | | | 被担保人名称 | ZPMC SDN.BHD. | ENGINEERING (MALAYSIA) | | 担 保 | 对 | 本次担保金额 | 186.27 | 万元 | | 象二 | | 实际为其提供的担保余额 | 186.27 | 万元 | | | | 是否在前期预计额度内 | 是 | | | | | 本次担保是否有反担保 | 否 | | | 担 保 | 对 | 被担保人名称 | ZPMC | ...

第九届董事会第十五次会议决议公告 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。 一、董事会会议召开情况 上海振华重工（集团）股份有限公司（以下简称振华重工或公司）第九届董 事会第十五次会议通知于 2025 年 8 月 19 日以电子邮件方式发出。本次会议于 2025 年 8 月 29 日以现场和通讯相结合的方式召开，应参加表决董事 10 人，实 际参加表决董事 10 人，会议由董事长由瑞凯先生主持，部分高级管理人员及董 事会秘书列席了会议。本次会议的召开及程序符合《公司法》《公司章程》等相 关规定。 二、董事会会议审议情况 本次会议审议并通过如下议案： 证券代码：600320 900947 证券简称：振华重工 振华 B 股 公告编号：临 2025-038 上海振华重工（集团）股份有限公司 （一）《关于审议<公司 2025 年半年度报告全文及摘要>的议案》 上述议案已经公司第九届董事会审计与风险委员会第十一次会议审议通过， 并同意提交公司董事会审议。 具体内容详见公司于同日在指定信息披露媒体上披露的《振华重工 2025 年 半 ...

Meeting Overview - The 15th meeting of the 9th Board of Directors of Shanghai Zhenhua Heavy Industries Co., Ltd. was held on August 19, 2025, with 10 directors participating in the vote [1][2] - The meeting was chaired by Chairman Mr. Rui Kai, and the procedures complied with relevant regulations [1] Resolutions Passed - The board approved the proposal for the 2025 semi-annual report, which was previously reviewed by the Audit and Risk Committee [1][2] - The board also approved the risk assessment report of China Communications Finance Co., Ltd., which constitutes a related party transaction [2] - The board made adjustments to the special committee members, appointing Ms. Du Wenli as the chair of the Remuneration and Assessment Committee and Mr. Yu Fang as a member of multiple committees [2][3] - The board appointed Ms. Cao Lu as the company's securities affairs representative, confirming her qualifications and experience [3][4] - Adjustments were made to the stock option incentive plan, with the exercise price set at 3.205 CNY per share for the initial grant and 3.945 CNY for reserved grants [5] - The board approved the cancellation of certain stock options under the incentive plan [5][6] - The board revised the company's information disclosure management measures and established a temporary management method for information disclosure [6][7] - The board reviewed the semi-annual evaluation report of the "Quality Improvement and Efficiency Return" action plan for 2025 [6]

Core Viewpoint - Shanghai Zhenhua Heavy Industries Co., Ltd. reported a steady growth in revenue and profit for the first half of 2025, driven by increased project deliveries and a focus on high-quality development in the heavy equipment manufacturing industry [2][3]. Company Overview and Financial Indicators - The company achieved an operating income of approximately CNY 17.40 billion, a year-on-year increase of 0.97% [2]. - Total profit reached approximately CNY 548.92 million, up 14.62% from the previous year [2]. - Net profit attributable to shareholders was about CNY 344.41 million, reflecting a 12.37% increase [2]. - The net cash flow from operating activities surged by 187.58% to approximately CNY 3.48 billion [2]. - Total assets decreased by 2.38% to approximately CNY 83.73 billion, while net assets increased by 0.60% to about CNY 15.96 billion [2]. Business Performance Analysis - The company maintained its leading position in the port machinery sector, with products now delivered to 110 countries and regions [3][8]. - New contracts in the port machinery, offshore engineering, and steel structure sectors contributed to a robust order book [3]. - The company signed significant contracts, including projects in Morocco and France, enhancing its competitive edge in high-end offshore markets [3]. Operational Efficiency and Management - The company implemented cost control measures, resulting in a 54.97% reduction in financial expenses and a 5.25% decrease in management costs [9]. - Continuous improvement in production efficiency was noted, with 179 lean improvement projects executed [4]. - The company emphasized customer service and established a global service network to enhance responsiveness [8]. Technological Innovation and R&D - The company focused on high-end, intelligent, and green equipment, achieving breakthroughs in key technologies such as low-carbon port equipment and DP2 level ship positioning systems [7]. - A total of 149 core patents were added, with 51% being invention patents, showcasing the company's commitment to innovation [7]. Market Trends and Future Outlook - The demand for intelligent port machinery is expected to grow, driven by infrastructure projects in the Middle East and Southeast Asia [3]. - The offshore engineering sector is stabilizing, with increasing demand for new equipment in the green energy transition [3]. - The company plans to continue focusing on high-quality development and enhancing its core competitiveness in the heavy equipment manufacturing industry [4].

Group 1 - The core viewpoint of the report indicates that Shanghai Zhenhua Heavy Industries Co., Ltd. has shown a slight increase in revenue and net profit for the first half of 2025 compared to the previous year, with total revenue reaching approximately 17.40 billion RMB, a 0.97% increase year-on-year [1] - The total assets of the company decreased by 2.38% from the end of the previous year, amounting to approximately 83.73 billion RMB [1] - The net profit attributable to shareholders increased by 12.37% year-on-year, reaching approximately 344.41 million RMB [1] Group 2 - The company reported a significant increase in cash flow from operating activities, which rose to approximately 3.48 billion RMB, marking a 187.58% increase compared to the same period last year [1] - The weighted average return on equity improved to 2.18%, an increase of 0.22 percentage points from the previous year [1] - The basic and diluted earnings per share both increased to 0.064 RMB, reflecting a growth of 12.28% [1] Group 3 - The company's debt-to-asset ratio improved slightly to 77.98% from 78.64% at the end of the previous year, indicating a marginal enhancement in financial stability [3] - The interest coverage ratio, measured by EBITDA, increased to 4.96, up from 3.79 in the previous year, suggesting better capacity to meet interest obligations [3]