本次中美大幅降低双边关税水平，符合两国生产者和消费者的期待，有利于中美两国经贸往来，有利于 全球经济。 中美关税冲突缓和，A股市场积极反应。 截至5月14日午间收盘，Wind海运指数（886027.WI）大涨3.82%，在Wind中国行业指数中涨幅排名第 一。 板块个股中，国航远洋（833171.BJ）涨24.84%、华光源海（872351.BJ）涨13.69%。宁波海运 （600798.SH）、宁波远洋（601022.SH）、中远海发（601866.SH）、锦江航运（601083.SH）。 在港口方面，南京港（002040.SZ）、连云港（601008.SH）等涨停。其中，宁波海运、宁波远洋、南京 港已连续两日涨停。 另外，集运指数（欧线）期货主力合约盘中大涨逾15%，升至1700点关口上方，创一个月来的高位。 5月14日，Wind海运指数（886027.WI）大幅上涨，截止午间收盘涨幅达到3.82%，在Wind中国行业指数 中涨幅排名第一。另外，多只航运、港口个股涨停。 在互动平台上，多家上市公司回应了双方关税下调的短期影响。同时，不少上市公司也提醒，中美双方 的关税政策仍处于波动之中，长远应对之策才是重 ...

每经记者｜刘明涛 每经编辑｜赵云 5月14日，A股窄幅整理，大金融走强，截至上午收盘，上证指数涨0.19%报3381.17点，深证成指跌0.26%，创业板指跌0.22%，北证50跌0.36%，科创 50跌0.2%，中证A500涨0.09%，A股半日成交7355.67亿。 | 3381.17 +6.30 +0.19% | | | | | 上证指数 000001 | ਐ | | --- | --- | --- | --- | --- | --- | --- | | SSE 11:30:03 交易中 | | | | | 沪深市场核心指数 / ● + | | | 2788.92亿 关键比率 全额 | | | | | | | | 成交量 | | 243.53亿 | | 2023 | | 2024 20250 | | 开鲁 | | 3374.24 | 毛利率 | 17.19 | 17.22 | 17.17 | | 最高 | | 3383.64 | 净利率 | 9.01 | 9.31 | 10.72 | | 最低 | | 3368.08 | | | | | | 市容液中 | 14.6 市净率 | 1.33 | EPS | ...

Core Viewpoint - The shipping and port sector is experiencing a significant surge, driven by favorable policies and market conditions, including the recent cancellation of tariffs between the US and China, and the onset of the peak season for container shipping in Europe [4]. Group 1: Market Performance - On May 14, the shipping and port sector opened high, with Ningbo Shipping (600798) hitting the daily limit and achieving a "two consecutive boards" status [1]. - Other stocks such as Nanjing Port (002040), Ningbo Ocean (601022), and Lianyungang (601008) also reached their daily limits, marking "two days, two boards" [1]. - The sector saw a notable increase in stock prices, with significant gains reported for companies like Guohang Ocean (833171) and Jinjiang Shipping (601083) [1][2]. Group 2: Industry Trends - The shipping and port industry is transitioning from rapid construction to integrated development, focusing on infrastructure upgrades towards green and smart solutions [4]. - The growth rate of cargo and container throughput has stabilized, with expectations of continued alignment with GDP growth, projected at around 5% for the year [4]. - Different port clusters are showing varied performance, with the Yangtze River Delta port cluster contributing significantly to container throughput growth [4]. Group 3: Policy and Economic Factors - Recent policies promoting the "Belt and Road" initiative and high-quality development are enhancing investments in port intelligence and sustainability, improving operational efficiency [4]. - The reduction in tariffs is expected to stimulate demand for Chinese exports to Europe via the US, leading to an anticipated rebound in shipping prices and improved profit expectations for port companies [4]. Group 4: Financial Insights - The shipping and port sector's recent rise is attributed to multiple converging factors, including declining debt ratios and strong cash flows for mature ports, while some ports are still in growth phases requiring significant capital expenditures [5]. - Long-term prospects for the port industry are driven by smart upgrades and policy benefits, with leading port companies expected to capitalize on their international presence and profit improvement potential [5].

Market Overview - A-shares opened higher but quickly entered a downward trend, with the Shanghai Composite Index up 0.17% and the Shenzhen Component down 0.13% by the afternoon close [1] - Total trading volume in the A-share market was 13,260 billion yuan, a decrease of 149 billion yuan from the previous day [1] Banking Sector Performance - The banking sector saw a collective rise, with Shanghai Bank, Pudong Development Bank, and Jiangsu Bank reaching historical highs [2] - The banking sector overall rose by 1.64%, ranking third among industry sectors for the day, with a weekly increase of 1.59% [2] - All 42 constituent stocks in the banking sector experienced gains, with Chongqing Bank rising over 4% and several others, including Shanghai Bank and Pudong Development Bank, increasing over 3% [2] Financial Indicators - In Q1, 42 banks reported a total net profit of 5,639.79 billion yuan, with the four major state-owned banks accounting for over 52% of this profit [3] - Analysts expect the banking sector to stabilize by 2025, with reduced net interest margin pressure and improved asset-liability management [3] Shipping and Port Sector - The shipping sector experienced significant gains, with the shipping index (European line) futures rising over 10% at the open and closing up 5.79% [4] - The shipping concept sector overall rose by 2.51%, ranking second among industry concepts for the day, with notable gains in stocks like Guohang Ocean and Huaguang Source Sea [4] Economic and Trade Relations - Recent U.S.-China trade talks showed signs of easing tensions, positively impacting financial and shipping trade sentiments [5] - The reduction of tariffs and supportive financial policies are expected to enhance corporate profitability and market sentiment in the short term, while promoting high-quality economic development in the long term [5]

Core Viewpoint - Jinjiang Shipping (601083) experienced a significant increase of 6.21% in stock price, with a trading volume of 5.64 billion yuan and a turnover rate of 25.32% on the day of reporting [2] Trading Activity - The stock was listed on the Shanghai Stock Exchange's "Dragon and Tiger List" due to its high turnover rate, with institutional investors net buying 13.33 million yuan while the Shanghai-Hong Kong Stock Connect recorded a net sell of 8.73 million yuan [2] - The top five trading departments accounted for a total transaction volume of 107 million yuan, with a net sell of 1.60 million yuan [2][3] - The largest buying department was the Shanghai-Hong Kong Stock Connect, which bought 19.09 million yuan and sold 27.82 million yuan, resulting in a net sell of 8.73 million yuan [2][3] Fund Flow - The stock saw a net inflow of 3.06 million yuan from major funds, with large orders contributing 2.05 million yuan and big orders contributing 1.00 million yuan [3] - Over the past five days, the stock experienced a net outflow of 37.56 million yuan [3] Margin Trading - As of May 12, the stock's margin trading balance was 120 million yuan, with a financing balance of 119 million yuan and a securities lending balance of 24,020 yuan [3] - In the last five days, the financing balance decreased by 9.29 million yuan, a decline of 7.21%, while the securities lending balance decreased by 130,800 yuan, a decline of 35.26% [3] Financial Performance - The company reported a first-quarter revenue of 1.67 billion yuan, representing a year-on-year growth of 33.25%, and a net profit of 357 million yuan, reflecting a year-on-year increase of 187.07% [3]

Core Viewpoint - The ship repair industry is crucial for supporting the global shipping sector, with its development closely linked to the global economy. The market has shown stable growth due to increasing international trade and shipping activities, although growth rates have fluctuated due to macroeconomic conditions [1][10]. Industry Overview - Ship repair involves maintaining and restoring the condition of vessels, including hulls, machinery, and equipment, to ensure safe operation. The industry is categorized into planned maintenance, accident repair, and basic restoration [3][4]. - The global ship repair volume is projected to increase from 13,127 vessels in 2017 to 39,002 vessels by 2024, although growth rates are expected to decline due to economic uncertainties [1][10]. Market Dynamics - The demand for ship repair services is closely tied to the shipping market, with increased shipping frequency and distance leading to higher maintenance needs. In 2024, China's waterway freight volume is expected to reach 9.811 billion tons, a 4.7% increase year-on-year [8][10]. - The proportion of repairs for older vessels is decreasing, while the share of repairs for vessels under 10 years old is rising, indicating a trend towards younger fleets [12][21]. Competitive Landscape - The ship repair industry in China is characterized by a diverse competitive landscape, dominated by three major state-owned enterprises, which collectively hold a 55.2% market share. Other private and joint-venture companies account for 44.8% [16][19]. - Major players include China Shipbuilding Industry Corporation, China State Shipbuilding Corporation, and China Merchants Industry Holdings, which leverage their technological and financial strengths to maintain competitive advantages [17][19]. Future Trends - The ship repair industry is expected to see increased demand for vessel upgrades and replacements, supported by government policies aimed at promoting the scrapping of older vessels [21]. - There is a clear trend towards digitalization and automation in the industry, with the adoption of AI, big data, and blockchain technologies to enhance maintenance efficiency and transparency [22]. - Market concentration is anticipated to rise, with larger firms likely to dominate the landscape, potentially leading to the elimination or consolidation of smaller players [24]. - Chinese ship repair companies are actively seeking to expand into international markets, particularly in line with the Belt and Road Initiative, necessitating compliance with international maritime regulations [25].

Group 1 - The Free Trade Port concept declined by 1.28%, ranking among the top declines in concept sectors, with Shanghai Yashi, Wanlin Logistics, and Hainan Mining showing significant drops [1] - Among the stocks in the Free Trade Port sector, 10 stocks increased, with Hainan Ruize, Haima Automobile, and Xinlong Holdings leading the gains at 2.88%, 2.43%, and 2.20% respectively [1] Group 2 - The Free Trade Port sector experienced a net outflow of 228 million yuan, with 20 stocks seeing net outflows, and 5 stocks exceeding 30 million yuan in outflows [2] - The stock with the highest net outflow was Beibu Gulf Port, with a net outflow of 91.13 million yuan, followed by Huamao Logistics, Dongfang Chuangye, and Jinjiang Shipping [2] - The stocks with the highest net inflows included China Duty Free, Pudong Construction, and Haima Automobile, with net inflows of 57.67 million yuan, 44.46 million yuan, and 14.81 million yuan respectively [2]

Core Viewpoint - The shipping market in Asia is experiencing a recovery in 2024, driven by moderate global economic recovery and supply-demand dynamics, with Jinjiang Shipping expanding its Southeast Asia routes and achieving significant revenue and profit growth [1][2]. Financial Performance - In 2023, Jinjiang Shipping reported a revenue of 59.70 billion yuan, a year-on-year increase of 13.36%, and a net profit attributable to shareholders of 10.21 billion yuan, up 37.45% [1]. - For Q1 2025, the company achieved a revenue of 16.66 billion yuan, representing a 33.25% year-on-year growth, and a net profit of 3.57 billion yuan, which is a remarkable increase of 187.07% [2]. Market Dynamics - The global container freight volume is expected to grow by 5.9% in 2024, with the global container shipping freight rates significantly increasing, as indicated by a 65.43% year-on-year rise in the China Container Freight Index (CCFI) for 2024 [2]. - The CCFI average for Q1 2025 showed a year-on-year increase of 51.07% [3]. Regional Insights - The Asia-Pacific region is projected to grow at a rate of 4.6% in 2024, with Southeast Asia, particularly Vietnam and Malaysia, being key growth drivers [2]. - The container shipping trade volume in the Asian region is expected to increase by 4.6% year-on-year [2]. Operational Strategy - Jinjiang Shipping is focusing on enhancing its Southeast Asia routes, with the delivery of three new 1900 TEU vessels and the acquisition of two 1100 TEU vessels to support its operations [6][7]. - The company plans to allocate 1.184 billion yuan of raised funds for the purchase of four 1800 TEU and two 1100 TEU container vessels [6]. Competitive Advantage - The company aims to leverage its differentiated service model in the Southeast Asia market, which is characterized by rapid growth and increasing demand for specialized shipping services [7]. - Jinjiang Shipping is expanding its network to include Thailand, Vietnam, the Philippines, and Indonesia, with plans to extend to India and the Middle East [7][8]. Future Outlook - The company anticipates that the shipping market will continue to present both opportunities and challenges, with potential impacts from trade tensions and policy uncertainties on global economic activities [8].

在运力管理上，锦江航运以"区域聚焦+动态调整"策略，采取精细化管理，确保了公司在全球运力紧张 时期仍能保持稳定的市场份额与服务质量；同时，公司通过持续加装数字化营运系统与绿色节能改造， 在高效服务与可持续发展中保持领先。 本报讯 （记者金婉霞）4月30日，上海锦江航运（集团）股份有限公司（下称"锦江航运"）披露2025年 一季报。2025年第一季度，锦江航运实现营收16.66亿元，同比增长33.25%；归属于母公司股东的净利 润为3.57亿元，同比增长187.07%。 锦江航运经营效益提升明显。据公司2024年年报，公司实现营业收入59.70亿元、归母净利润10.21亿 元，同比分别增长13.36%和37.45%，年度现金分红5.15亿元，高达50.46%分红率居行业前列。 成绩与公司坚持"东北亚压舱石+东南亚增长极"的双核驱动战略有关。一方面，锦江航运依托上海往返 日本线、上海两岸间航线的稳定运价与高标准服务，占有率继续保持行业第一，为整体业绩提供了坚实 支撑。另一方面，锦江航运在东南亚开设泰越快线、海防丝路快航等，打造新增长引擎；截至2024年 底，公司新增印西、印巴、中东及华南印度航线，将服务触角延伸至 ...

(三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情 | 况： | | --- | 证券代码：601083 证券简称：锦江航运 公告编号：2025-015 上海锦江航运（集团）股份有限公司 2024年年度股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东大会召开的时间：2025 年 4 月 29 日 (二) 股东大会召开的地点：上海市浦东新区友林路 55 号二楼报告厅 | 1、出席会议的股东和代理人人数 | 441 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,105,545,700 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份 | | | 总数的比例（%） | 85.4284 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情 况等。 本次股东大会由公司董事会召集，董事长沈伟先生主持。会议的召集和召开 程序、表决方式符合《公司法》和 ...