| 证券代码：601107 | 证券简称：四川成渝 | | 公告编号：2026-005 | | --- | --- | --- | --- | | 债券代码：241012.SH | 债券简称：24 | 成渝 01 | | | 债券代码：102485587 | 债券简称：24 成渝高速 | | MTN001 | 四川成渝高速公路股份有限公司 关于公司董事离任及聘任财务总监的公告 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： 2026 年 2 月 10 日，公司召开第八届董事会第四十四次会议，审议通过《关 于聘任周静女士为本公司财务总监及其薪酬方案的议案》。结合本公司提名委 员会、审计委员会的意见，经本公司董事会认真研究，同意聘任周静女士为本 公司财务总监，任期自本议案通过之日起至第八届董事会届满之日止。任期届 满，可连选连任。结合本公司薪酬与考核委员会意见，本公司董事会同意其薪 酬方案为：按照相关政策和本公司规定的统一标准执行。 周静女士的任职资格符合《公司法》《上海证券交易所股票上市规则》等相 关法律法规及《 ...

| 证券代码：601107 | 证券简称：四川成渝 | | 公告编号：2026-006 | | --- | --- | --- | --- | | 债券代码：241012.SH | 债券简称：24 | 成渝 01 | | | 债券代码：102485587 | 债券简称：24 | 成渝高速 MTN001 | | 四川成渝高速公路股份有限公司 第八届董事会第四十四次会议决议公告 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。 一、董事会会议召开情况 （一）四川成渝高速公路股份有限公司（以下简称"公司"或"本公司"） 第八届董事会第四十四次会议于 2026 年 2 月 10 日在四川省成都市武侯祠大街 252 号本公司住所四楼 420 会议室以现场及通讯相结合的方式召开。 （二）会议通知、会议资料已于 2026 年 2 月 3 日以电子邮件和专人送达方 式发出。 结合本公司薪酬与考核委员会意见，本公司董事会同意其薪酬方案为：按照 相关政策和本公司规定的统一标准执行。 详情可参阅公司同日于《中国证券报》《上海证券报》及上海证券交易所发 ...

格隆汇2月10日丨四川成渝(601107.SH)公布，公司于近日接到非执行董事陈朝雄先生的辞任函。因到退 休年龄，陈朝雄先生申请辞去公司第八届董事会非执行董事、薪酬与考核委员会委员职务，辞任后不再 担任公司任何职务。根据《中华人民共和国公司法》和《公司章程》的有关规定，陈朝雄先生的辞任未 导致公司董事人数低于法定最低人数，其辞任函已送达公司董事会并生效。 2026年2月10日，公司召开第八届董事会第四十四次会议，审议通过《关于聘任周静女士为本公司财务 总监及其薪酬方案的议案》，同意聘任周静女士为本公司财务总监，任期自本议案通过之日起至第八届 董事会届满之日止。任期届满，可连选连任。 ...

四川成渝2月10日公告，非执行董事陈朝雄因到龄退休，申请辞去公司非执行董事等职务，辞任后不再 担任公司任何职务。同日，公司召开第八届董事会第四十四次会议，审议通过聘任周静为公司财务总 监，任期自本议案通过之日起至第八届董事会届满之日止。 ...

Investment Rating - The report maintains a "Recommend" rating for the aviation sector, highlighting potential opportunities in the industry [2][3]. Core Insights - The Spring Festival travel rush has begun, with air passenger volume averaging 2.313 million per day, up 5.5% year-on-year, while railway passenger volume averaged 11.792 million, down 0.7% year-on-year [1][10]. - The report emphasizes the competitive landscape in instant retail, particularly with the launch of the "30 Billion Free Order" campaign by Qianwen, which saw over 10 million orders in just 9 hours [2][35]. - The report identifies key players in the aviation sector, including China National Airlines, Southern Airlines, and Eastern Airlines, as well as low-cost carriers like Spring Airlines, which are expected to benefit from high price elasticity and operational efficiency [2][34]. Industry Data Tracking - Air freight rates at Pudong Airport increased by 5.3% week-on-week and 8.9% year-on-year as of February 2 [7][44]. - The VLCC freight rate rose by 2% week-on-week, while the BDI decreased by 10% [7][48]. - The report highlights the growth potential in the express logistics sector, particularly for leading companies like Zhongtong and Yuantong, as well as the promising outlook for instant retail leader SF Express [7][31]. Investment Recommendations - The report suggests focusing on "performance elasticity" and "dividend value" as key investment themes for the transportation sector in 2026 [7][31]. - It recommends continued investment in the aviation sector due to expected low growth in aircraft supply and a projected 5% increase in passenger numbers [2][31]. - The report also emphasizes the importance of dividend assets, recommending companies like Sichuan Chengyu and China Merchants Port for their stable performance and potential for increased dividends [7][31].

FF301 本月底法定/註冊股本總額： RMB 3,058,060,000 | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601107 | 說明 | | A股（上海證券交易所） | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,162,740,000 | RMB | | 1 RMB | | 2,162,740,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 2,162,740,000 | RMB | | 1 RMB | | 2,162,740,000 | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- ...

Core Viewpoint - The report highlights significant target price increases for several listed companies from January 26 to February 1, with notable mentions including Baili Tianheng, Zexing Pharmaceutical, and Great Wall Motors, indicating strong bullish sentiment in the market for these stocks [1][2]. Target Price Increases - Baili Tianheng (688506) has a target price increase of 375.97%, with a highest target price set at 1322.00 yuan [2]. - Zexing Pharmaceutical (688266) shows a target price increase of 88.56%, with a highest target price of 166.16 yuan [2]. - Great Wall Motors (601633) has a target price increase of 83.66%, with a highest target price of 38.00 yuan [2]. - Other companies with notable target price increases include Industrial Fulian (601138) at 73.31% and CATL (300750) at 71.71% [2][3]. Broker Recommendations - A total of 265 listed companies received broker recommendations during the period, with Qingdao Bank receiving the highest number of recommendations at 8 [3][4]. - Other companies with multiple recommendations include Xian Dao Intelligent and Wancheng Group, each receiving 5 recommendations [3][4]. Rating Adjustments - Eight companies had their ratings upgraded, including Shanghai Jahwa (600315) from "Hold" to "Buy" and ZTE Corporation (000063) from "Cautious Buy" to "Buy" [5][6]. - Two companies had their ratings downgraded, including Jincheng Shares (603396) from "Buy" to "Hold" and Huasheng Group (603018) from "Buy" to "Hold" [6]. First-Time Coverage - During the same period, 75 instances of first-time coverage were reported, with notable ratings including Shaanxi Tourism (603402) receiving a "Outperform Industry" rating and Bichu Electronics (688188) receiving a "Buy" rating [7].

Investment Rating - The report maintains a "Buy" recommendation for the shipping industry, highlighting the upward potential in both oil and dry bulk markets [7]. Core Insights - Geopolitical tensions, particularly between the US and Iran, have led to an increase in VLCC freight rates, with the Clarksons VLCC-TCE index rising to $116,000, a week-on-week increase of 17% [10][11]. - The BDI index has shown resilience during the off-season, closing at 2148 points, up 21.9% week-on-week, with significant increases in various vessel types [23][24]. Summary by Sections Oil Shipping - The ongoing tensions in the Middle East have resulted in a significant rise in VLCC freight rates, particularly on the Middle East to China route, which saw a 27% increase to $127,000 per day [10][11]. - The market fundamentals are weakening, with a slowdown in cargo availability and a lack of new cargo in the US Gulf market, leading to a decline in overall market activity [10][11]. Dry Bulk Shipping - The BDI index has shown a remarkable performance during the off-season, with a year-on-year increase of 89% in January, averaging 1759 points [24]. - The strong performance of the BCI index, which increased by 121% year-on-year, is attributed to supply constraints and steady demand from Brazil and West Africa [24]. Investment Recommendations - The report emphasizes the potential for upward trends in both oil and dry bulk markets, recommending companies such as China Merchants Energy Shipping and COSCO Shipping Energy [27]. - For dry bulk, the report suggests companies like Haitong Development and Pacific Shipping, citing favorable supply and demand dynamics [28]. Industry Data Tracking - Recent data shows a year-on-year increase of 8.3% in domestic air passenger volume, with average ticket prices rising by 4.3% [29]. - The SCFI index has decreased by 10% week-on-week, indicating a decline in container shipping rates [50].

Investment Rating - The report maintains a "Recommended" rating for the transportation industry, indicating a positive outlook for investment opportunities in the sector [1]. Core Insights - Geopolitical factors are driving up VLCC freight rates, with the Clarksons VLCC-TCE index rising to $116,000 per day, a week-on-week increase of 17%. The Middle East to China route is reported at $127,000 per day, up 27% week-on-week [1][10]. - The BDI index is showing resilience during the off-season, closing at 2148 points, a week-on-week increase of 21.9%. The average BDI for January is reported at 1759 points, a year-on-year increase of 89% [2][23][24]. Summary by Sections Oil Transportation - The ongoing tensions between the US and Iran have led to an increase in VLCC freight rates, with the market showing signs of weakness as the supply of cargo from the Middle East is tapering off [1][10]. - The Brent crude oil futures price has risen to $69.83 per barrel, a 9.6% increase since January 22, driven by concerns over potential disruptions in Middle Eastern oil supply [2][11]. Dry Bulk Transportation - The BDI index has shown strong performance despite seasonal trends, with significant increases in various sub-indices: BCI up 35.8%, BPI up 8.1%, BSI up 4.0%, and BHSI up 3.0% week-on-week [2][23]. - The report highlights that the supply side is constrained due to recent storms affecting shipping schedules, while demand remains robust due to favorable weather conditions for iron ore exports from Brazil [3][24]. Investment Recommendations - The report suggests a positive outlook for both oil and dry bulk markets, recommending companies such as China Merchants Energy and COSCO Shipping for oil transportation, and Haitong Development and Pacific Shipping for dry bulk [7][28]. - The report emphasizes the importance of performance elasticity and dividend value in the transportation sector, particularly in aviation and shipping [7][62].

Core Viewpoint - ST Er Ya (600107) is facing significant financial challenges, with projected losses for 2025 and potential delisting risks due to non-compliance with financial reporting standards [1][2][3] Financial Performance Summary - ST Er Ya expects a net profit loss of between 90 million to 135 million yuan for the year 2025, with a non-recurring net profit loss estimated between 100 million to 150 million yuan [1][3] - The anticipated total revenue for 2025 is projected to be between 210 million to 260 million yuan, with revenue from core operations expected to be between 207 million to 257 million yuan [1] Company Announcements - The company and its actual controller, Zheng Jiping, have been penalized by the Hubei Securities Regulatory Bureau for information disclosure violations, involving a total of 10.372 million yuan in non-operating fund occupation [2][3] - The company’s stock may face delisting risk warnings following the 2025 annual report if the audited financial indicators remain negative and revenue falls below 300 million yuan [1][2][3] - ST Er Ya has sold 100% equity of Genuo Energy and Jianqin Energy for 18 million yuan, receiving 9.18 million yuan so far, with the transaction expected to generate a profit of approximately 8.16 million yuan [2][3]