证券简称：中船防务 股票代码：600685 公告编号: 2025-045 中船海洋与防务装备股份有限公司 第十一届董事会第十七次会议决议公告 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。 中船海洋与防务装备股份有限公司（以下简称"公司"或"本公司"） 第十一届董事会第十七次会议于 2025 年 10 月 30 日（星期四）上午 11：00 在本公司会议室召开，董事会会议通知和材料于 2025 年 10 月 20 日（星期 一）以电子邮件方式发出。本次会议应出席董事 8 人，亲自出席董事 8 人。 本公司高级管理人员列席会议。会议由董事长罗兵先生主持。本次会议的 召开符合有关法律、行政法规、部门规章、规范性文件和本公司《公司章 程》的规定。经过充分讨论，会议审议通过如下议案： 1、通过《关于计提资产减值准备的议案》。 表决结果：赞成 8 票，反对 0 票，弃权 0 票。 该议案已经公司审计委员会会议审议通过。 议 案 内 容 详 见 公 司 于 2025 年 10 月 30 日 在 上 海 证 券 交 易 所 （www.sse ...

Investment Rating - The report maintains a positive outlook on the shipping, shipbuilding, and aviation sectors, indicating a fundamental improvement despite low fund holdings [3]. Core Insights - The shipbuilding sector has seen a reversal of negative factors, with second-hand ship prices stabilizing and surpassing 2024 highs, suggesting potential for new ship price increases [3]. - The oil tanker market is experiencing strong demand due to OPEC's production increases and ongoing sanctions on Russian and Iranian oil supplies, leading to a significant rise in freight rates [3]. - Fund holdings in the transportation sector have decreased to a historical low, with notable increases in the market value of shipping, ports, airports, and cross-border logistics [3][4]. Summary by Sections 1. Changes in Fund Holdings in the Transportation Sector - As of Q3 2025, the total market value of funds in the transportation sector reached 18 billion yuan, a 30% decrease from the previous quarter, ranking 17th among 31 sectors [4][5]. - The transportation sector's market value accounts for 2.68% of total A-share market value, with an underweight of 1.59% [4]. 2. Changes in Fund Holdings by Sub-sectors - The proportion of fund holdings in aviation, shipping, ports, airports, raw material supply chain services, and cross-border logistics has increased, with aviation transportation holding the largest share at 37.62% [10]. - The market value changes for various sectors include significant increases in shipping and raw material supply chain services, while express delivery and highways saw declines [10]. 3. Top Ten Fund Holdings in the Transportation Sector - The top ten fund holdings include SF Holding, YTO Express, Huaxia Airlines, and China Merchants Energy, with notable increases in holdings for YTO Express and China Merchants Energy [15]. - Stocks with total holdings exceeding 300 million yuan and growth rates above 10% include YTO Express and China Merchants Energy, with growth rates of 110% and 227% respectively [15]. 4. Valuation of Key Companies in the Transportation Sector - Key companies such as China National Aviation and SF Holding have been evaluated with projected earnings per share (EPS) and price-to-earnings (PE) ratios indicating potential growth [19].

中船海洋与防务装备股份有限公司 关于计提资产减值准备的公告 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。 中船海洋与防务装备股份有限公司（以下简称"本公司"或"公 司"）于 2025 年 10 月 30 日召开第十一届董事会第十七次会议审议通 过《关于计提资产减值准备的议案》。现将有关情况公告如下： 一、本次计提资产减值准备的情况概述 为客观反映公司报告期内财务状况和经营成果，按照《企业会计 准则》和公司关于《资产减值准备计提与核销管理办法》等相关规定， 公司及所属子公司在资产负债表日全面检查各项资产，根据谨慎性原 则，对存在减值迹象的资产及手持合同进行减值测试，合理预计各项 资产可能发生的损失，计提资产减值准备（含亏损合同损失）。根据 测试结果，2025 年第 1-3 季度公司及所属子公司拟计提资产减值准 备共计 2.21 亿元。 二、计提资产减值准备的具体情况说明 （一）计提减值准备的方法、依据和标准 根据《企业会计准则第 1 号——存货》规定：资产负债表日，存 货应当按照成本与可变现净值孰低计量。存货成本高于其可变现净 ...

证券代码：中船防务 证券简称：600685 公告编号：2025-048 中船海洋与防务装备股份有限公司 关于与中船财务有限责任公司续签《金融服务协议》 暨关联交易的公告 本公司董事会、全体董事及相关股东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： 鉴于中船海洋与防务装备股份有限公司（以下简称"本公司"或"公司"） 与中船财务有限责任公司（以下简称"中船财务"）签订的《2025 年金融服务 框架协议》履行完毕，本公司于 2025 年 10 月 30 日与中船财务签署《2026 年金 融服务框架协议》，以规管公司及子公司（以下合称"本集团"）与中船财务之 间于 2026 年 1 月 1 日至 2026 年 12 月 31 日期间发生的金融服务业务。 本次交易构成关联交易。 本次交易尚需提交公司 2025 年第四次临时股东会审议。 1 （a） （1）每日最高存款余额 2,170,000 万元 （2）累计年度存款利息额度 21,420 万元 （b） （1）每日最高贷款余额 230,000 万元 （2）累计年度贷款利息额度 4,200 万元 ...

证券简称：中船防务 股票代码：600685 公告编号：2025-047 "中国船舶集团"）及其子公司（以下合称 "中船集团"）在日常 业务中发生的交易构成持续性关联交易。为规范开展该等关联交易事 项，公司与中国船舶集团签署持续性关联交易框架协议。 中船海洋与防务装备股份有限公司 关于公司与中国船舶集团有限公司签署《2026 年持续 性关联交易框架协议》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： 本事项需提交公司 2025 年第四次临时股东会审议。 中国船舶集团为本公司的间接控股股东，本集团与中船集团的 日常关联交易均为满足本集团日常经营业务需要。在日常交易过程 中，本公司遵循公平合理的原则，严格遵守有关法律、法规的规定， 完全独立决策，不受关联方控制，不会对公司本期以及未来财务状况 和经营成果产生不利影响，不会对中船集团构成依赖。关联交易定价 遵循市场原则，不会损害公司和全体股东的利益。 根据《公司法》、上海证券交易所《股票上市规则》、《上市公 司自律监管指引第 5 号——交易与关联交易》等相关规定 ...

中船海洋与防务装备股份有限公司 2025 年第三季度报告 证券代码：600685 证券简称：中船防务 中船海洋与防务装备股份有限公司 2025 年第三季度报告 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： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 4,142,484,558.85 | 4.65 | 14,315,121 ...

中船防务公告，第三季度营收为41.42亿元，同比增长4.65%；净利润为1.29亿元，同比增长218.53%。 前三季度营收为143.15亿元，同比增长12.83%；净利润为6.55亿元，同比增长249.84%。 ...

Market Overview - The marine equipment sector experienced a decline of 1.73% on October 30, with Guorui Technology leading the losses [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Individual Stock Performance - The following stocks in the marine equipment sector showed varied performance: - Yaxing Anchor Chain (601890) closed at 10.28, up 1.38% with a trading volume of 656,100 shares and a turnover of 671 million [1] - Jianglong Shipbuilding (300589) closed at 14.77, up 0.75% with a trading volume of 586,600 shares and a turnover of 862 million [1] - China Shipbuilding (600150) closed at 36.04, down 1.88% with a trading volume of 850,800 shares and a turnover of 3.09 billion [1] - Guorui Technology (300600) closed at 15.31, down 5.20% with a trading volume of 144,200 shares and a turnover of 223 million [1] Capital Flow Analysis - The marine equipment sector saw a net outflow of 630 million from main funds, while retail investors contributed a net inflow of 453 million [1] - The following details highlight the capital flow for specific stocks: - Yaxing Anchor Chain had a main fund net inflow of 67.19 million, while retail investors had a net outflow of 84.16 million [2] - Guorui Technology experienced a main fund net outflow of 22.50 million, but retail investors had a net inflow of 32.27 million [2] - China Shipbuilding faced a significant main fund net outflow of 470 million, with retail investors contributing a net outflow of 286 million [2]

Core Viewpoint - The maritime equipment sector experienced a slight decline of 0.09% on October 29, with Zhongke Haixun leading the losses, while the overall market indices showed positive performance with the Shanghai Composite Index up by 0.7% and the Shenzhen Component Index up by 1.95% [1] Market Performance - The closing prices and performance of key stocks in the maritime equipment sector are as follows: - China Shipbuilding Defense (600685) closed at 27.71, up 0.69% with a trading volume of 135,000 shares and a turnover of 372 million yuan - China Shipbuilding (600150) closed at 36.73, up 0.30% with a trading volume of 794,800 shares and a turnover of 2.908 billion yuan - Tianhai Defense (300008) closed at 7.00, up 0.29% with a trading volume of 1,798,400 shares and a turnover of 124.6 million yuan - Other stocks such as China Marine Defense (600764) and Yaxing Anchor Chain (601890) saw declines of 1.17% and 1.46% respectively [1] Capital Flow - The maritime equipment sector saw a net outflow of 887 million yuan from institutional investors, while retail investors contributed a net inflow of 643 million yuan. Speculative funds recorded a net inflow of 244 million yuan [1] - Detailed capital flow for specific stocks indicates: - China Shipbuilding Defense had a net outflow of 9.41 million yuan from institutional investors, while retail investors had a net inflow of 222.99 million yuan [2] - China Shipbuilding experienced a net outflow of 1.32 billion yuan from institutional investors, with retail investors contributing a net inflow of 5.836 billion yuan [2] - Tianhai Defense faced a significant net outflow of 1.60 billion yuan from institutional investors, while retail investors had a net inflow of 1.42 billion yuan [2]

Core Viewpoint - The marine equipment sector experienced a 1.1% increase on October 28, with Jianglong Shipbuilding leading the gains, while the overall market indices showed a decline [1] Market Performance - The Shanghai Composite Index closed at 3988.22, down 0.22% - The Shenzhen Component Index closed at 13430.1, down 0.44% [1] Individual Stock Performance - Jianglong Shipbuilding (300589) saw a closing price of 15.07, with a significant increase of 19.98% and a trading volume of 852,300 shares, amounting to 1.242 billion yuan - Guorui Technology (300600) closed at 16.60, up 9.57%, with a trading volume of 325,600 shares, totaling 534 million yuan - Tianhai Defense (300008) closed at 6.98, up 6.89%, with a trading volume of 2.9436 million shares, amounting to 2.051 billion yuan - Other notable stocks include Yaxing Anchor Chain (601890) with a 4.36% increase, and China Shipbuilding (600150) with a slight increase of 0.19% [1] Capital Flow Analysis - The marine equipment sector saw a net inflow of 460 million yuan from institutional investors, while retail investors experienced a net outflow of 192 million yuan [1] - Jianglong Shipbuilding had a net inflow of 321 million yuan from institutional investors, representing 25.85% of its trading volume [2] - Guorui Technology had a net inflow of 59.15 million yuan from institutional investors, accounting for 11.07% of its trading volume [2]