Market Overview - The market opened high but retreated throughout the day, with mixed performance across the three major indices. The shipping and port sector saw a significant late surge, with stocks like Ningbo Ocean and Lianyungang hitting the daily limit. The magnetic levitation compressor concept remained active, with Xinglei Co. and Baida Precision Engineering also reaching the limit. The photovoltaic sector rebounded, with Baoxin Technology and Oujing Technology hitting the limit. Bank stocks strengthened again, with Shanghai Pudong Development Bank and Shanghai Bank reaching historical highs. In contrast, the military industry sector declined, with Huawu Co. dropping over 10%. Overall, more than 3,200 stocks in the Shanghai and Shenzhen markets fell, with a total transaction volume of 1.33 trillion yuan [1]. Shipping Sector - The shipping sector experienced a significant rise, with stocks like Wantong Technology and Ningbo Shipping hitting the daily limit. The main contract for the European shipping index surged over 10% [4][13]. - According to CICC, the demand for shipping volumes is expected to improve due to concentrated growth in U.S. supply chain inventory needs, potentially leading to an increase in freight rates [5]. Photovoltaic Sector - The photovoltaic sector saw substantial gains, with stocks such as Baoxin Technology and Jingyuntong hitting the daily limit. Reports indicated that leading silicon material manufacturers are planning to acquire remaining silicon material production capacity and have proposed production cuts to stabilize prices [7]. - CITIC Futures noted that silicon wafer production has further decreased this week, with both polysilicon and silicon wafer inventories declining, indicating that upstream producers are beginning to reduce operations to stabilize prices [8]. Foreign Trade Beneficiary Concept - The foreign trade beneficiary concept remained active, with stocks like Huafang Co. hitting the daily limit. Analysts noted that the recent reduction in U.S. tariffs on China to 30% suggests a gradual recovery in China's exports to the U.S. [9][11]. Other Active Sectors - Other sectors such as petrochemicals, magnetic levitation compressors, and medical devices showed localized activity. In contrast, military and satellite internet sectors experienced notable declines [11].

Core Viewpoint - The shipping sector in A-shares has shown strong performance, particularly following the announcement of a significant reduction in bilateral tariffs between China and the U.S., which has positively impacted market sentiment and demand for shipping services [1][2]. Group 1: A-share Market Performance - A-share shipping stocks collectively surged, with notable gains including Ningbo Marine reaching the daily limit, and other companies like Ningbo Ocean and COSCO Shipping also experiencing increases of over 2% [1]. - The A-share market's stronger performance compared to the Hong Kong market indicates a compensatory rally, driven by positive developments in U.S.-China trade talks [2]. Group 2: Hong Kong Market Performance - In the Hong Kong market, shipping stocks exhibited mixed results, with some companies like Yang Ming Marine and Orient Overseas International continuing to rise, while others like COSCO Shipping Energy faced declines [1]. - The timing of the U.S.-China trade announcement and the respective closing times of the A-share and Hong Kong markets contributed to the differing performances [1]. Group 3: Impact of U.S.-China Trade Talks - Following the announcement of reduced tariffs, many U.S. companies are rapidly increasing their imports to avoid potential future tariff hikes, indicating a surge in demand for shipping services [3]. - The 90-day tariff buffer period has led to a significant increase in shipping demand, with companies like Basic Fun and Hightail Hair rushing to ship previously delayed goods [4]. Group 4: Market Expectations and Trends - Analysts predict a shift in the shipping market dynamics, with expectations of increased demand leading to potential rises in container shipping rates due to the release of pent-up demand [4][5]. - The recent trade negotiations have reversed previously pessimistic market expectations, leading to a positive feedback loop in the shipping sector, with increased shipping volumes and seasonal demand contributing to a tightening of capacity [5].

Market Overview - On May 13, A-shares opened higher with the Shenzhen Component Index rising nearly 1% and the ChiNext Index increasing over 1%, but both indices turned negative during the session [1][4] - By midday, the Shanghai Composite Index was up 0.08%, while the Shenzhen Component Index and ChiNext Index were down 0.24% and 0.23% respectively [4] Banking Sector - The banking sector showed moderate strength, with several bank stocks reaching historical highs when adjusted for dividends. Notable performers included Shanghai Pudong Development Bank, Shanghai Bank, and Jiangsu Bank [2][5] - The banking sector led the gains among industries, with an intraday increase of over 1% [5] Shipping Sector - Multiple shipping stocks experienced significant gains, with China National Offshore Oil Corporation's shipping arm rising over 23% and Ningbo Shipping hitting the daily limit [10][11] - The shipping sector's strength was supported by a rise in European shipping futures, with the main contract increasing by over 11% [12] New Listings - A new stock, Tiangong Co., Ltd., saw its price surge by as much as 498.98% during its debut trading session. The company specializes in the research, production, and sales of titanium and titanium alloy materials [14] Hong Kong Market - The Hong Kong market experienced an overall decline, with the Hang Seng Index dropping over 1%. However, the pharmaceutical and biotechnology sector stood out with significant gains, particularly Kintor Pharmaceutical, which rose over 14% [15][17] - Other notable gainers in the Hong Kong market included stocks like SF Express and Rongchang Bio [19]

Core Viewpoint - The A-share market experienced a mixed performance with various sectors showing volatility, while the outlook suggests potential upward movement due to unexpected tariff reductions and improving economic sentiment [1][5]. Group 1: Market Performance - The A-share market opened high but saw a decline, with over 3,400 stocks in the red by midday. The Shanghai Composite Index rose by 0.08%, while the Shenzhen Component and ChiNext fell by 0.24% and 0.23%, respectively [1]. - Key sectors included banking, which showed resilience with stocks like Shanghai Pudong Development Bank hitting historical highs, and the photovoltaic sector, which saw significant gains with stocks like Oujing Technology reaching the daily limit [1][2]. Group 2: Sector Highlights - **Photovoltaic Sector**: The photovoltaic industry showed strong performance, particularly in silicon materials, with companies like Tongwei Co. and Oujing Technology hitting the daily limit. Despite a forecasted decline in profitability for 2024 and early 2025, analysts believe the bottom has been reached [2]. - **Port and Shipping Sector**: The port and shipping sector also saw gains, with Ningbo Shipping hitting the daily limit. The rise was attributed to a significant increase in the shipping index, indicating improved demand for shipping services [3]. - **AI Intelligent Agents**: The AI sector experienced a surge, with stocks like Kute Intelligent and Nansheng Co. reaching the daily limit. The announcement of open registration for the Manus AI platform contributed to this rally [4]. Group 3: Institutional Insights - **Huajin Securities**: The firm noted that the unexpected tariff reductions could lead to significant improvements in economic fundamentals and market sentiment, suggesting a potential upward breakout for A-shares [5]. - **Everbright Securities**: The firm expressed optimism for continued upward movement in the market, driven by recovering investor confidence and upcoming events like the Shanghai VR/AR Expo [6]. - **Huafu Securities**: The firm highlighted that the reduction in tariffs would directly catalyze sectors such as exports and technology manufacturing, improving corporate profitability and market sentiment [8].

航运彻底嗨了！ 今天早盘，集运指数（欧线）期货主力合约开盘大涨超10%。A股方面，港口航运板块高开，宁波海运涨停，国航远洋涨超12%，华光源海大涨超10%，宁波远洋、 中远海控、连云港纷纷高开。昨晚，道琼斯运输指数暴涨6.52%。 经济体间的贸易战暂时休兵，海运业者为之一振，预期将可从中美订单复苏中受益。据悉，已有一些出口商正准备让商品恢复出口美国。5月通常是为年底购物旺 季订单预做准备的月份，目前正处于补库存的阶段，一些国内电商也纷纷开始行动。 突然暴涨 随着宏观情绪显著转暖，集运市场多头情绪高涨，推动多合约盘中涨停，其中主力EC2506合约12日收于1466.2点，涨幅达16%。今天早盘，集运指数（欧线）主力 合约开盘后再度大涨超10%。 据新华社消息，中美经贸中方牵头人、国务院副总理何立峰当地时间11日晚在出席中方代表团举行的新闻发布会时表示，此次中美经贸高层会谈坦诚、深入、具有 建设性，达成重要共识，并取得实质性进展。中美贸易冲突出现缓和迹象，对金融及航运贸易情绪均有积极提振作用。 集运指数（欧线）的上涨显然也是受情绪推动。基本面上，根据华闻期货的数据，上周五盘后公布的SCFI一欧洲线运价指数为116 ...

Group 1 - A-shares experienced a slight increase, driven by easing trade tensions, with major indices showing positive performance [1][6] - The cross-border e-commerce sector saw significant gains, with Zhejiang Zhengte hitting the daily limit up, alongside other companies like Huafang Co. and Heng'erda [4] - The shipping sector also surged, with Ningbo Shipping reaching the daily limit up, influenced by a more than 10% rise in the European shipping index futures [4] Group 2 - The latest US-China economic talks resulted in a substantial reduction in tariffs, with the effective tariff rate dropping from 28.4% to 15.5%, alleviating export risks for China [6] - Analysts suggest that the easing of tariffs and domestic policy support are key factors for a potential market rebound, with a focus on sectors such as consumption, construction, and technology [6] - The technology sector is expected to see a rebound, particularly in areas like semiconductors and consumer electronics, as many stocks remain undervalued [6]

宁波海运股份有限公司 2024 年年度股东大会会议资料 2025 年 5 月 22 日 宁波海运股份有限公司 2024 年年度股东大会议程 一、现场会议时间、地点 现场会议时间：2025 年 5 月 22 日 09：30 现场会议地点：宁波市江北区北岸财富中心 1 幢 公司八楼会议室 二、网络投票时间 （1）上海证券交易所股东大会网络投票系统的投票时间： 2025 年 5 月 22 日 9：15－9：25，9：30－11：30，13：00－15：00 （2）互联网投票平台的投票时间： 2025 年 5 月 22 日 9：15－15：00 三、会议投票方式 本次会议采用现场投票及网络投票相结合的方式。公司股东只能选择现场投票和 网络投票中的一种表决方式。如同一表决权通过现场、上海证券交易所网络投票平台 或其他方式重复进行表决的，以第一次投票结果为准。公司将通过上海证券交易所交 易系统向公司股东提供网络形式的投票平台，公司股东可以在上述网络投票时间内通 过上海证券交易所的交易系统行使表决权（投票注意事项详见公司于 2025 年 4 月 28 日在上海证券交易所网站发布的《宁波海运股份有限公司关于召开 2024 年 ...

一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.0183 | 0.0926 | -80.24 | 0.0943 | | 每股净资产（元） | 3.28 | 3.29 | -0.3 | 3.23 | | 每股公积金(元) | 0.98 | 0.98 | 0 | 0.98 | | 每股未分配利润(元) | 1.03 | 1.05 | -1.9 | 0.99 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 24.32 | 22.67 | 7.28 | 20.73 | | 净利润(亿元) | 0.22 | 1.12 | -80.36 | 1.14 | | 净资产收益率(%) | 0.56 | 2.84 | -80.28 | 2.94 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 63663.31万股，累计占流通股比： 52.75%，较上期变 ...

本报告仅供宁波海运公司年度报告披露时使用，不得用作任何其他目的。我 们同意将本报告作为宁波海运公司年度报告的必备文件，随同其他文件一起报送 并对外披露。 目 录 一、关于营业收入扣除情况的专项核查意见………………………第 1—2 页 二、2024 年度营业收入扣除情况表…………………………………… 第 3 页 | 三、附件………………………………………………………………第 | 4—7 | 页 | | --- | --- | --- | | （一）本所营业执照复印件……………………………………… | 第 4 | 页 | | （二）本所执业证书复印件……………………………………… | 第 5 | 页 | | （三）签字注册会计师执业证书复印件………………………第 | 6—7 | 页 | 关于营业收入扣除情况的专项核查意见 天健审〔2025〕6160 号 宁波海运股份有限公司全体股东： 我们接受委托，审计了宁波海运股份有限公司（以下简称宁波海运公司）2024 年度财务报表，包括 2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度 的合并及母公司利润表、合并及母公司现金流量表、合并及母公司所有者 ...

| 一、审计报告……………………………………………………… 第 | 1—6 页 | | --- | --- | | 二、财务报表……………………………………………………… 第 7—14 | 页 | | （一）合并资产负债表…………………………………………… 第 | 7 页 | | （二）母公司资产负债表………………………………………… 第 | 8 页 | | （三）合并利润表………………………………………………… 第 | 9 页 | | （四）母公司利润表………………………………………………第 | 10 页 | | （五）合并现金流量表……………………………………………第 | 11 页 | | （六）母公司现金流量表…………………………………………第 | 12 页 | | （七）合并所有者权益变动表……………………………………第 | 13 页 | | （八）母公司所有者权益变动表…………………………………第 | 14 页 | | 三、财务报表附注…………………………………………………第 15—90 | 页 | | 四、附件……………………………………………………………第 91—94 | 页 | | （一）本所 ...