| 证券代码：600320 | 证券简称：振华重工 | | 公告编号：临 | 2025-044 | | --- | --- | --- | --- | --- | | 900947 | 振华 B | 股 | | | 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。 重要内容提示： | 回购方案首次披露日 | 2025/4/28 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 2025 5 5 | 28 | 日~2026 | 年 | 月 | 27 | 日 | | 预计回购金额 | 5,000万元~10,000万元 | | | | | | | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 | | | | | | | | | □用于转换公司可转债 | | | | | | | | | □为维护公司价值及股东权益 | ...

格隆汇9月2日丨振华重工(600320.SH)公布，截至2025年8月31日，公司暂未回购股份，公司后续将根据 市场情况择机实施本次回购计划。 ...

Investment Rating - The investment rating for the company is "Buy" [4] Core Views - The company has shown a 12% year-on-year growth in performance for the first half of 2025, with port machinery orders increasing by 27%, indicating an accelerating growth trend [1][2] - The company is positioned as a global leader in port machinery with a market share of 70%, benefiting from automation upgrades and expansion into new product categories [3] - Future growth drivers include industry renewal demands, after-market services, product category expansion, and improvements in governance within the offshore engineering sector [2][3] Financial Performance Summary - For the first half of 2025, the company reported revenue of 17.4 billion yuan, a 1% increase year-on-year, and a net profit of 340 million yuan, reflecting a 12.4% increase [1] - The gross margin was 10.8%, down 1.3 percentage points year-on-year, while the net margin was 2.6%, up 0.2 percentage points year-on-year [1] - The revenue breakdown shows port machinery revenue at 10.7 billion yuan, up 8.3% year-on-year, while offshore equipment revenue was 3.7 billion yuan, down 23% year-on-year [1] Order and Market Trends - New orders for port machinery reached 3.14 billion USD in the first half of 2025, a 27% year-on-year increase, while offshore and steel structure projects saw a significant decline in new orders [2] - The company has maintained a leading position in the port machinery sector for 26 consecutive years, with a consistent market share above 70% since 2006 [3] Future Projections - The company is expected to achieve net profits of 760 million yuan, 846 million yuan, and 1 billion yuan for the years 2025, 2026, and 2027, respectively, representing growth rates of 42%, 11%, and 18% [4][5] - The projected P/E ratios for the years 2025, 2026, and 2027 are 32, 28, and 24, respectively, while the P/B ratios are expected to be 1.44, 1.37, and 1.30 [4][5]

Core Viewpoint - Zhenhua Heavy Industries demonstrated robust performance in the face of unprecedented global trade headwinds, with revenue and net profit showing positive growth in the first half of 2025 [1] Financial Performance - In the first half of 2025, the company's operating revenue was approximately 17.396 billion yuan, a year-on-year increase of 0.97% [1] - Net profit attributable to shareholders was about 344 million yuan, up 12.37% year-on-year [1] - Basic earnings per share were 0.064 yuan, reflecting a 12.28% increase year-on-year [1] - The net profit excluding non-recurring gains and losses reached 246 million yuan, a significant year-on-year growth of 111.44% [1] - Operating cash flow saw a net inflow of 3.483 billion yuan, a remarkable increase of 187.58% year-on-year [1] - Financial expenses totaled 94.42 million yuan, down 54.97% year-on-year due to a significant reduction in cash flow returns [1] Business Focus and Market Position - The company focuses on core businesses in port machinery, offshore engineering, and steel structures, forming a series of products in these areas [1] - New contracts and bids in the first half of 2025 amounted to 3.586 billion USD, with port machinery accounting for 87.48%, offshore engineering 10%, and steel structures 2.51% [1] - Zhenhua Heavy Industries maintains its leading position in the port machinery industry, having entered the 110th country and region with projects like the Casablanca port in Morocco [2] Technological Advancements - The company delivered two 35,000 cubic meter ultra-large dredging vessels equipped with an independently developed intelligent dredging operation system [2] - These vessels utilize artificial intelligence and digital twin technology for autonomous operation, achieving capabilities such as unmanned navigation and operation [3] - The dredging efficiency of these vessels has surpassed that of the world's largest dredging ships, positioning them as leaders in the Asian market [3] Strategic Importance - The new vessels are crucial for helping Chinese port general contractors secure overseas deep-water port projects [4]

General Provisions - The company aims to standardize its organization and behavior, strengthen the leadership of the Communist Party, and improve its corporate governance structure [2][3] - The company is established as a joint-stock limited company in accordance with the Company Law and other relevant regulations [2][3] Company Purpose and Scope - The company's purpose is to operate independently under national macro-control, utilizing policies to maintain technological advantages and improve economic efficiency [5][6] - The business scope includes designing, constructing, and installing large port handling systems and equipment, marine heavy equipment, and other related services [6][7] Shares - The company's shares are issued in the form of stocks, with a total registered capital of RMB 5,268.353501 million [4][8] - The share structure includes 526,835.3501 million shares, with 194,635.5840 million B shares (36.94%) and 332,199.7661 million A shares (63.06%) [8][9] Shareholder and Shareholder Meeting - Shareholders have rights to dividends, request meetings, supervise operations, and access company documents [17][18] - The company must hold an annual general meeting within six months after the end of the previous fiscal year [29][30] Board of Directors and Management - The board of directors is responsible for the company's operations and must act in the best interests of the company and its shareholders [22][23] - The company must establish a risk and audit committee to oversee financial practices and compliance [22][23] Amendments and Notifications - The company can amend its articles of association as needed, subject to shareholder approval [28][29] - Notifications regarding shareholder meetings must include details such as time, location, and agenda [36][37]

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 ...