Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for investment [5][7]. Core Viewpoints - The company is positioned as a northern coastal hub port, benefiting from growth and dividend potential. It is the largest port in northern China and the second-largest foreign trade port in the country, with cargo and container throughput ranking fourth and fifth globally, respectively. The dual-driven business model of "containers + liquid bulk" has shown significant effectiveness [6][9]. - The company is expected to continue enjoying the integration benefits from the Shandong provincial port consolidation, with anticipated growth in profitability and a dividend yield of approximately 4% over the next three years [9][7]. Summary by Relevant Sections Financial Performance and Forecast - The company’s revenue for 2023 is projected at 18,173 million RMB, with a slight decline of 5.66% year-on-year. However, it is expected to recover with revenues of 18,941 million RMB in 2024 and 19,304 million RMB in 2025, reflecting growth rates of 4.23% and 1.92%, respectively [5][6]. - The net profit attributable to shareholders is forecasted to be 4,923 million RMB in 2023, increasing to 5,235 million RMB in 2024 and 5,492 million RMB in 2025, with year-on-year growth rates of 8.80% and 6.33% [5][6]. - The earnings per share (EPS) is expected to rise from 0.76 RMB in 2023 to 0.81 RMB in 2024 and 0.85 RMB in 2025 [5][6]. Business Segments - Container Business: The company anticipates container throughput of 32.17 million TEU in 2024, a year-on-year increase of 7.2%, contributing over 30% to total profits. Revenue from container handling and related services is expected to reach 1.678 billion RMB, a significant increase of 39.89% [6][59]. - Liquid Bulk Business: Although facing short-term pressure, the long-term outlook remains resilient. Revenue from liquid bulk handling is projected to be 3.670 billion RMB in 2024, down 13.5% year-on-year, primarily due to international market conditions and lower operational rates at refineries [81][86]. - Dry Bulk Business: Expected revenue growth for dry bulk handling is modest, with projections of 4.518 billion RMB in 2025, reflecting a year-on-year increase of 0.80% [8]. Market Position and Competitive Advantage - The company benefits from a strategic location as a natural deep-water port, enhancing its role as a logistics hub in Northeast Asia. It has established a comprehensive network of over 200 container shipping routes, connecting with more than 700 ports globally [22][14]. - The integration of Shandong ports has improved operational efficiency, reducing competition and enhancing service quality, which is expected to increase throughput by 20% [17][14]. Dividend Policy and Financial Health - The company has committed to a dividend payout of no less than 40% of distributable profits in profitable years. In 2024, total dividends amounted to 2.039 billion RMB, with a payout ratio of 39% [50][57]. - The company maintains a low debt-to-asset ratio of 25.43%, which is below the industry median, indicating a strong financial structure and capacity for sustainable growth [50][58].

Summary of Qingdao Port Conference Call Company Overview - **Company**: Qingdao Port - **Industry**: Port and Logistics Key Financial Metrics - **2024 Cargo Throughput**: 5.2 billion tons, up 3.5% YoY [2] - **Container Throughput**: 8.22 million TEU, up 7.2% YoY [2] - **Revenue**: 18.94 billion yuan, up 4.2% YoY [2] - **Net Profit**: 5.23 billion yuan, up 6.3% YoY [2] - **Earnings Per Share**: 0.8 yuan, up 6.6% YoY [2] - **Gross Profit Margin**: 35.4% [3] - **Return on Equity**: 12.65% [3] - **Debt to Asset Ratio**: 25.4% [3] Container Business Growth Factors - **Economic Support**: The local economy in Shandong contributes approximately 80% of container volume [2][7] - **Product Characteristics**: Container goods are essential products, less sensitive to macroeconomic fluctuations [7] - **Route Density**: Qingdao Port has the highest route density among northern ports, with nearly 230 routes [2][7] - **New Routes**: The port has added over 15 new routes annually since the integration of Shandong ports [7][8] Foreign Trade Structure - **Diversification**: The foreign trade structure has become more diverse and balanced, with essential goods being less sensitive to tariff fluctuations [9] - **Impact of Tariffs**: Less than 5% of business is affected by U.S. tariffs, allowing for alternative trade routes [9] Liquid Bulk Cargo Challenges - **Decline in Liquid Bulk**: Liquid bulk cargo is expected to decline in 2024 and 2025 due to reduced electricity quotas and increased penetration of new energy vehicles [10] - **Mitigation Strategies**: The company is expanding other businesses and exploring new models like futures delivery warehouses and ship supply oil to offset losses [10] Dry Bulk Cargo Business - **Main Products**: The dry bulk business primarily consists of iron ore, coal, and bauxite, accounting for 80% of the volume [12] - **Efficiency**: Qingdao Port has the highest loading and unloading efficiency globally for iron ore [12][13] Competitive Advantages - **Operational Efficiency**: The company maintains a diverse cargo model, reducing reliance on any single commodity, enhancing resilience against economic fluctuations [14] - **Port Integration**: The integration of Shandong ports has improved operational management and increased route density [15][20] - **Geographical Advantage**: Qingdao Port's location provides proximity to major shipping routes, with deep-water capabilities for large vessels [18] Future Outlook and Dividend Policy - **Steady Growth**: The company plans to maintain a dividend payout ratio of no less than 40% of distributable profits, with a 2024 ratio of 45% [6][22] - **Capital Expenditure**: Future capital expenditures will focus on infrastructure and equity investments, with an annual investment of approximately 4 billion yuan for five years [22] Conclusion - **Strategic Focus**: Qingdao Port will continue to focus on its core business in port operations and logistics while exploring overseas opportunities through management services [23]

证券代码：601298 证券简称：青岛港 公告编号：2025-023 青岛港国际股份有限公司关于召开2024年年度股东大会的通知 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： ● 股东大会召开日期：2025年6月27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 一、召开会议的基本情况 (一)股东大会类型和届次 (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 召开的日期时间：2025年6月27日 10点00分 召开地点：山东省青岛市东海东路88号青岛山港凯悦酒店 (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6月27日 至2025年6月27日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东大会召开当日的交易时间 段，即9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投票平台的投票时间为股东 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年5月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 青島港國際股份有限公司 呈交日期: 2025年6月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06198 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,099,025,000 | RMB | | | 1 RMB | | 1,099,025,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 1,099,025,000 | RMB | | | 1 RMB | | 1,099,025,000 | | 2. ...

证券代码：601298 证券简称：青岛港 公告编号：2025-023 青岛港国际股份有限公司 关于召开2024年年度股东大会的通知 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 (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 召开的日期时间：2025 年 6 月 27 日 10 点 00 分 召开地点：山东省青岛市东海东路 88 号青岛山港凯悦酒店 (五)网络投票的系统、起止日期和投票时间。 股东大会召开日期：2025年6月27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 2024年年度股东大会 | 序号 | 议案名称 | | 投票股东类型 | | --- | --- | --- | --- | | | | 股股东 A | 股股东 H | | 非累积投票议案 | | | | | 1 | 关于青岛港国际股份有限公司发行股份一般性授权 ...

青岛港国际股份有限公司 2024年年度股东大会会议资料 青岛港国际股份有限公司 二〇二五年六月 青岛港国际股份有限公司股东大会会议资料 2025年6月27日 2 青岛港国际股份有限公司股东大会会议资料 青岛港国际股份有限公司 股东大会会议须知 为维护全体股东的合法权益，确保青岛港国际股份有限公司（以下简称 "公司"）股东大会的正常秩序和议事效率，依照《青岛港国际股份有限公 司股东大会议事规则》，特制订本须知。 一、全体参会人员应以维护全体股东的合法权益、保障会议的正常秩序 和议事效率为原则，自觉履行法定义务。 二、股东参加股东大会依法享有发言权、质询权、表决权等权利。参会 股东应认真履行其法定权利和义务，不得侵犯其他股东的权益。 三、为了能够及时、准确地统计出席股东大会的股东人数及所代表的股 份数，出席股东大会的股东请务必准时到达会场，并在"会议签到表"上签 到。 四、股东大会正式开始之前，会议登记终止。在会议登记终止时未在 "会议签到表"上签到的股东，其代表的股份不计入出席本次大会的股份总 数，不得参与表决。 五、2024年年度股东大会共需审议11项议案，其中，第1-3项议案为特别 决议案，须由出席股东大会 ...

截至2025年6月4日收盘，青岛港(601298)报收于9.06元，上涨0.22%，换手率0.34%，成交量18.1万手， 成交额1.64亿元。 董秘最新回复 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 当日关注点 交易信息汇总：6月4日主力资金净流入1564.7万元，而游资资金净流出1489.77万元，散户资金净 流出74.93万元。 交易信息汇总 6月4日，青岛港的资金流向显示主力资金净流入1564.7万元；游资资金净流出1489.77万元；散户资金净 流出74.93万元。 投资者： 贵公司2024年报中，第81页披露期末存放山东港口财务公司的存款余额为166.98亿，104页的 期末货币资金余额为126.73亿，155页的存放财务公司存款期末余额为122.97亿，请问第81页的存放山东 港口财务公司的存款余额是披露错误吗？ 董秘： 尊敬的投资者，您好！公司披露的2024年度报告中第81页披露的期末存放山东港口财务公司的 存款余额为166.98亿元，是根据《上海证券交易所股票上市规则》中对关联交易相关的子公司定义（包 括持股 ...

Group 1 - The core viewpoint of the news highlights Qingdao Port's current stock performance, with a closing price of 9.04 yuan, an increase of 1.35%, and a rolling PE ratio of 11.03 times, which is below the industry average of 13.67 times [1][3] - As of the first quarter of 2025, Qingdao Port has 31 institutional investors holding a total of 492,844.41 million shares, with a market value of 48.397 billion yuan [1] - The company has received numerous accolades, including being recognized as one of the five benchmark ports in China by the Ministry of Transport's Water Transport Research Institute [2] Group 2 - Qingdao Port's main business includes the loading and unloading of various goods such as containers, metal ores, coal, and crude oil, along with logistics and port value-added services [2] - The latest financial results for the first quarter of 2025 show an operating income of 4.807 billion yuan, a year-on-year increase of 8.51%, and a net profit of 1.402 billion yuan, up 6.51%, with a gross profit margin of 38.57% [2] - In terms of industry comparison, Qingdao Port ranks 9th in PE ratio among its peers, with a total market value of 58.68 billion yuan [1][3]

折射外贸新机遇 在山东港口青岛港前湾港区，这艘前往美国东部的集装箱轮已装卸完成，比原计划提前四小时离港启航。 这艘集装箱轮原计划在青岛港是只卸不装，现在面对新的市场形势，公司立即调整了运营策略，船舶将迅速装箱，继续前往美国。随着这条航线从之前每两 周一班重新调回每周一班，货代公司的业务量也出现了暴增。 作为中国北方重要的国际航运枢纽，青岛港的航线通达全球700多个港口，一季度集装箱吞吐量同比增速达到了7.4%。 在当下复杂多变的国际贸易形势下，这座港口如何找准方向为外贸企业"保驾护航"？ 港口"流量"剧增 青岛瑞之航国际物流有限公司航线经理 岳富海：第一是找货，再就是舱位的问题。一切都是速度，海运费上涨的速度也是很快的。 自5月14日中美最新关税落地实施后，青岛港码头收到了不少对美出口客户的货运订单，加上6—9月是美国传统的进货旺季。青岛港前湾港区近万米长的集 装箱岸线上，26个泊位靠满货轮，集装箱被不断吊起，装满货物的卡车一辆接着一辆。 从家居到鞋履，不同行业的外贸企业也在全力抢时间、赶订单。 企业负责人告诉我们，这场变局中，他们也在摆脱对单一市场的依赖，加大开拓欧洲、非洲、东南亚等国外市场的力度。 青岛锦 ...

Group 1 - The core viewpoint of the news highlights the performance and valuation of Qingdao Port, which closed at 8.92 yuan, up 1.71%, with a rolling PE ratio of 10.88 times and a total market value of 57.901 billion yuan [1] - The shipping and port industry has an average PE ratio of 13.62 times and a median of 14.28 times, placing Qingdao Port in 8th position within the industry [1][3] - As of the first quarter of 2025, 31 institutions hold shares in Qingdao Port, including 22 funds, with a total holding of 492,844.41 million shares valued at 48.397 billion yuan [1] Group 2 - Qingdao Port International Co., Ltd. specializes in the loading and unloading of various goods, including containers, metal ores, coal, and crude oil, along with logistics and port value-added services [2] - The company has received numerous honors, including being recognized as one of the five exemplary world-class ports in China by the Ministry of Transport's Water Transport Research Institute [2] - In the first quarter of 2025, the company reported revenue of 4.807 billion yuan, a year-on-year increase of 8.51%, and a net profit of 1.402 billion yuan, up 6.51%, with a gross profit margin of 38.57% [2]