证券代码：600482 证券简称：中国动力 公告编号：2025-050 根据《公司法》《上市公司章程指引（2025 年修订）》《上海证券交易所股票上 市规则（2025 年 4 月修订）》等相关法律法规，结合公司实际情况，公司拟取消监事 会，监事会的职权由董事会审计委员会行使，公司现任监事职务将自股东大会审议通 过本议案之日起相应解除，《中国船舶重工集团动力股份有限公司监事会议事规则》 相应废止，同时修订《公司章程》。公司董事会提请公司股东大会授权公司经营管理 层办理公司变更登记、章程备案等相关事宜。 债券代码：110808 债券简称：动力定 02 中国船舶重工集团动力股份有限公司 第八届董事会第十五次会议决议公告 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。 中国船舶重工集团动力股份有限公司（以下简称"公司"）第八届董事会第十五 次会议于 2025 年 7 月 15 日以现场结合通讯方式召开，会议通知于 2025 年 7 月 9 日以 专人送达或电子邮件方式发出。公司应出席董事 10 名，实际出席董事 10 名，其中以 通讯表决方 ...

General Provisions - The company aims to protect the legal rights of shareholders, employees, and creditors while regulating its organization and behavior according to relevant laws and regulations [1][2] - The company was established as a joint-stock limited company and adheres to the principle of legal governance [1][2] - The company was approved by the China Securities Regulatory Commission for its initial public offering of 80 million shares in 2004 [1][3] Company Structure - The registered capital of the company is RMB 2,252,861,845 [2] - The company is a permanent joint-stock limited company [2] - The chairman serves as the legal representative of the company, and the company must appoint a new legal representative within 30 days if the current one resigns [2][3] Management and Governance - Senior management includes the general manager, executive deputy general manager, deputy general managers, board secretary, and financial officer [3] - The company has established a party organization to support its operations and ensure adequate funding for party activities [3] Business Objectives and Scope - The company's business objective is to become the strongest and largest power equipment supplier in China, leveraging its advantages in military-civilian integration and comprehensive technology [4] - The business scope includes manufacturing, research, maintenance, installation, leasing, and technical services for internal combustion engines, turbines, batteries, and lithium-ion batteries [4] Share Structure - The company's shares are in the form of stocks, and the issuance of shares follows principles of openness, fairness, and justice [6] - The total number of issued shares is 2,252,861,845, all of which are ordinary shares [6][7] Capital Management - The company can increase capital through various methods, including issuing shares to unspecified objects and reducing registered capital as needed [7][8] - The company is prohibited from repurchasing its own shares except under specific circumstances [8][9] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, voting, and the ability to supervise the company's operations [12][13] - Shareholders must comply with laws and regulations and cannot withdraw their capital except as legally permitted [15][16] Shareholder Meetings - The company holds annual and temporary shareholder meetings, with specific procedures for convening and voting [48][49] - Shareholder proposals must be submitted within designated timeframes, and the company must provide adequate notice of meetings [58][59] Voting and Resolutions - Resolutions can be ordinary or special, with different voting thresholds required for each type [80][81] - Shareholders exercise voting rights based on their shareholdings, with provisions for separate counting of votes for minority shareholders [83]

中国船舶重工集团动力股份有限公司 章程 （2025年7月修订） | . | 2 | | --- | --- | | . | | | | | 中国船舶重工集团动力股份有限公司 章程 总则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和行为，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》"）、《上市公司章程指引》《中国共产党章程》（以下简称 "《党章》"）和其他有关规定，制定本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司（以下简称"公 司"）。公司坚持依法治企，建立健全企业风险防范体系。 公司经中华人民共和国经济贸易委员会国经贸企改第471号文批准，以发起方式设立；在中 华人民 共和国市场监 督管理局 注册登记， 取得营业 执照，统一 社会信用代 码为 911306007109266097。 第三条 公司于2004年6月21日经中国证券监督管理委员会（以下简称"中国证监会"）批 准，首次向社会公众发行人民币普通股8000万股，于2004年7月14日在上海证券交易所上市。 第四条 公司注册名称： 中文全称：中国船 ...

2025 年 7 月 15 日，中国船舶重工集团动力股份有限公司（以下简称"公司"） 召开了第八届董事会第十五次会议，审议通过了《关于修订<公司章程>及取消监事会 的议案》《关于制定、修订公司部分治理制度的议案》等议案。具体情况如下： 一、修订《公司章程》及取消监事会的情况 （一）取消监事会的情况 为进一步完善公司治理，根据最新修订的《中华人民共和国公司法》（以下简称 《公司法》）《上海证券交易所股票上市规则（2025 年 4 月修订）》《上市公司章程 指引（2025 年修订）》等法律法规、规范性文件的规定，结合公司实际情况，公司拟 对《中国船舶重工集团动力股份有限公司章程》（以下简称《公司章程》）中的有关 条款进行修订，公司取消监事会，监事会的职权由董事会审计委员会行使。自修订后 的《公司章程》生效之日起，公司现任监事职务相应解除，《中国船舶重工集团动力 股份有限公司监事会议事规则》相应废止。 （二）《公司章程》的修订情况 | 证券代码：600482 | 证券简称：中国动力 | 公告编号：2025-051 | | --- | --- | --- | | 债券代码：110808 | 债券简称：动力定 02 | ...

中国船舶重工集团动力股份有限公司 第八届董事会第十五次会议决议公告 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。 中国船舶重工集团动力股份有限公司（以下简称"公司"）第八届董事会第十五 次会议于 2025 年 7 月 15 日以现场结合通讯方式召开，会议通知于 2025 年 7 月 9 日以 专人送达或电子邮件方式发出。公司应出席董事 10 名，实际出席董事 10 名，其中以 通讯表决方式出席本次会议的董事 7 名。会议由公司董事长李勇先生主持召开，公司 监事、高级管理人员列席了会议。 本次会议的召开符合《中华人民共和国公司法》（以下简称《公司法》）等法律、 行政法规及规范性文件和《中国船舶重工集团动力股份有限公司章程》（以下简称 《公司章程》）的有关规定。 经与会董事审议，一致通过如下决议： 一、审议通过《关于修订<公司章程>及取消监事会的议案》 | 证券代码：600482 | 证券简称：中国动力 公告编号：2025-050 | | --- | --- | | 债券代码：110808 | 债券简称：动力定 02 | 根据《公司法 ...

| 证券代码：600482 | 证券简称：中国动力 | 公告编号：2025-052 | | --- | --- | --- | | 债券代码：110808 | 债券简称：动力定 02 | | 中国船舶重工集团动力股份有限公司 关于召开2025年第一次临时股东大会的通知 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： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025年第一次临时股东大会 召开的日期时间：2025 年 7 月 31 日 9 点 00 分 召开地点：北京市海淀区昆明湖南路 72 号 股东大会召开日期：2025年7月31日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 7 月 31 日 ...

Investment Rating - The investment rating for the transportation industry is "Positive" (maintained) [4] Core Views - The report highlights the need for the express delivery industry to shift towards high-quality development, as the State Post Bureau opposes "involution" competition and aims to improve service quality [4] - The express delivery sector is currently experiencing a decline in per-package revenue, with major companies like Zhongtong, Yuantong, Yunda, and Shentong showing year-on-year decreases in revenue per package [4] - Jitu's Southeast Asian market has seen significant growth, with a total package volume of 7.392 billion pieces in Q2 2025, a year-on-year increase of 23.5% [5] - The airline industry is expected to benefit from macroeconomic recovery, with long-term supply-demand trends indicating potential for growth [12] - The shipping sector is anticipated to improve due to OPEC+ production increases and the Federal Reserve's interest rate cuts, with specific recommendations for companies like China Merchants Energy and COSCO Shipping [12] Summary by Sections Express Delivery - The express delivery market is facing intense competition, with major players experiencing a decline in revenue per package [4] - The report suggests that regulatory changes could help improve the situation by reducing low-cost competition and enhancing the performance of leading companies [4][12] Airline Industry - The airline sector is characterized by long-term low supply growth, but demand is expected to benefit from macroeconomic recovery [12] - Key companies to watch include China National Aviation Holding, Southern Airlines, and HNA Group [12] Shipping and Ports - The report indicates a positive outlook for oil transportation due to OPEC+ production increases and potential interest rate cuts [12] - Recommendations include focusing on companies like China Merchants Energy and COSCO Shipping for their growth potential in the shipping market [12] Road and Rail - The report notes that the Daqin Railway experienced a year-on-year decrease in freight volume in June 2025, while overall logistics operations remain stable [11][12] - Companies like Zhongyuan Expressway and Sichuan Chengyu are highlighted for their growth potential due to infrastructure developments [12]

Investment Rating - The report maintains a "Positive" investment rating for the defense and military industry [5] Core Viewpoints - The report highlights a significant recovery in the performance of upstream electronic components, with a positive outlook for sustained equipment orders [11][12] - The shipbuilding sector is experiencing notable recovery, with deep-sea technology expected to further drive future demand [12][14] - The current market conditions continue to favor the military industry, with military trade anticipated to become a second growth driver [15] Summary by Sections Investment Recommendations and Targets - The report suggests focusing on the following segments: - **Military Electronics**: Recommended stocks include Zhenhua Technology (000733, Overweight), Aerospace Electronics (002025, Buy), and Torch Electronics (603678, Not Rated) [16] - **Key Materials and Parts**: Recommended stocks include Western Superconducting (688122, Buy) and Chujian New Materials (002171, Buy) [16] - **Aero Engine Chain**: Recommended stocks include Aero Engine Power (600893, Not Rated) and Western Superconducting (688122, Buy) [16] - **Military Trade**: Suggested stocks include AVIC Shenyang Aircraft (600760, Not Rated) and Guorui Technology (600562, Not Rated) [16] Performance Insights - Torch Electronics expects a net profit of 247 million to 280 million yuan for the first half of 2025, representing a year-on-year growth of approximately 50.36% to 70.45% [11][31] - Major shipbuilding companies, including China Shipbuilding and China Heavy Industry, reported over 60% growth in net profit for the first half of 2025, with China Heavy Industry potentially doubling its profit [12][13] Market Trends - The defense and military industry index increased by 0.88%, outperforming the Shanghai Composite Index, which rose by 1.09% [17][18] - The report notes that the military industry is ranked 25th out of 31 in terms of performance among the primary industry indices [20] Weekly News Highlights - The report includes significant domestic and international news related to the military industry, emphasizing ongoing developments and strategic activities [25][26]

Investment Rating - The report maintains a "Recommendation" rating for the shipbuilding industry, indicating a positive outlook for the sector [8]. Core Insights - The performance of China Shipbuilding and related companies has significantly exceeded expectations, driven by high-value orders and favorable raw material cost dynamics, suggesting a potential for increased profit elasticity in the future [2]. - The global order for alternative fuel vessels has shown a decrease in quantity but an increase in total tonnage, reflecting a trend towards larger, more efficient green ships [2]. - The new ship price index has stabilized and shown slight recovery, with June new ship orders increasing on a month-over-month basis, indicating early signs of market recovery [3][8]. Summary by Sections Company Performance - China Shipbuilding's H1 2025 net profit forecast is between 2.8-3.1 billion, representing a year-on-year growth of 98%-119% [1]. - China Heavy Industry's H1 2025 net profit forecast is between 1.5-1.8 billion, with a year-on-year growth of 182%-238% [1]. - China Power's H1 2025 net profit forecast is between 0.8-1.15 billion, showing a year-on-year growth of 68%-142% [1]. Market Trends - The new ship price index has stabilized at 186 points in June, with a slight increase from May [3]. - Global new ship orders reached 2.54 million CGT in June, showing a month-on-month increase despite a year-on-year decline of 81% [3]. - The second-hand ship market is experiencing a revival, particularly in the oil tanker segment, with VLCC prices showing a steady upward trend [7]. Industry Developments - The merger between China Shipbuilding and China Heavy Industry is nearing completion, which will create the largest shipbuilding entity globally and reshape the market landscape [7]. - The report emphasizes the potential for significant profit growth in the shipbuilding sector, particularly for companies like China Shipbuilding and China Power, as they capitalize on the recovery in ship prices and order volumes [8].

| 证券代码：600482 | 证券简称：中国动力 | 公告编号：2025-049 | | --- | --- | --- | | 债券代码：110808 | 债券简称：动力定 02 | | 中国船舶重工集团动力股份有限公司 关于监事会主席辞职的公告 徐万旭先生的辞职未导致公司监事会成员人数低于法定最低人数，不影响公司监 事会的正常运作。根据《中华人民共和国公司法》以及《中国船舶重工集团动力股份 有限公司章程》的相关规定，徐万旭先生的辞职报告自送达公司监事会之日起生效。 徐万旭先生在公司任职期间勤勉尽责，为公司规范运作、健康发展发挥了积极作 用，公司监事会对徐万旭先生任职期间为公司发展做出的贡献表示衷心感谢！ 特此公告。 中国船舶重工集团动力股份有限公司监事会 2025 年 7 月 12 日 1 本公司监事会及全体监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。 中国船舶重工集团动力股份有限公司（以下简称"公司"）监事会于近日收到公 司监事会主席徐万旭先生的书面辞职报告。因工作调动原因，徐万旭先生向监事会提 出辞去公司第八届监事会主席及监事职务。 ...