交通运输部日前发布的数据显示，今年1至10月，中国港口货物、集装箱吞吐量同比分别增长4.3%、 6.4%，显示中国港口的强大活力。 在东部沿海地区，上海作为重要的国际航运中心，汇集了众多船厂、船东与相关金融机构，港口经济和 航运产业发展水平不断迈向新高。 不久前，中国船级社宣布将国际船舶检验、技术标准创新与国际交流合作等3大国际功能落户上海市虹 口区，进一步增强上海在全球航运体系中的核心作用。作为上海国际航运中心的重要功能承载区，虹口 港口吞吐量迅速增长 12月2日，宁波舟山港年集装箱吞吐量首次突破4000万标准箱，成功实现第4个"千万箱级"跨越。此前， 宁波舟山港年集装箱吞吐量已跨越3个"千万箱级"：从1000万标箱到2000万标箱，耗时7年；从2000万标 箱到3000万标箱，耗时6年。此次从3000万标箱迈过4000万标箱，仅耗时4年。 "港口的核心竞争力不仅在于规模，更在于其应对不确定性的能力。"上海国际航运研究中心学术委员会 主任真虹对本报记者表示，在当前全球供应链重构的背景下，宁波舟山港的稳定运营已成为保障国际贸 易畅通的重要支撑。 作为全球货物吞吐量第一大港，宁波舟山港集装箱吞吐量站上新台阶，是 ...

来源：新浪证券-红岸工作室 12月1日，青岛港涨0.95%，成交额2.12亿元。两融数据显示，当日青岛港获融资买入额1179.93万元， 融资偿还1516.55万元，融资净买入-336.62万元。截至12月1日，青岛港融资融券余额合计1.36亿元。 融资方面，青岛港当日融资买入1179.93万元。当前融资余额1.36亿元，占流通市值的0.30%，融资余额 超过近一年80%分位水平，处于高位。 融券方面，青岛港12月1日融券偿还1100.00股，融券卖出1000.00股，按当日收盘价计算，卖出金额 8480.00元；融券余量3.59万股，融券余额30.44万元，超过近一年70%分位水平，处于较高位。 资料显示，青岛港国际股份有限公司位于山东省青岛市市北区港极路7号，成立日期2013年11月15日， 上市日期2019年1月21日，公司主营业务涉及集装箱、金属矿石、煤炭、原油等各类货物的装卸及配套 服务、物流及港口增值服务、港口配套服务、金融服务等。主营业务收入构成为：装卸及相关业务 56.72%，物流及港口增值服务36.96%，港口配套服务-销售油、电及其他3.25%，港口配套服务-租金收 入1.95%，港口配套 ...

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11月30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12月1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 ...

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11月30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 | 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) | 601298 | 說明 | 於上海證券交易所上市 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,392,075,000 RMB | | | 1 RMB | | 5,392,075,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 5,392,075,000 RMB | | | 1 RMB | | 5,392,075,000 | 因本公司是於中華人民共和國註冊成立，「法定股本」之概念不適用於本公司。 本月底 ...

资料显示，青岛港国际股份有限公司位于山东省青岛市市北区港极路7号，成立日期2013年11月15日， 上市日期2019年1月21日，公司主营业务涉及集装箱、金属矿石、煤炭、原油等各类货物的装卸及配套 服务、物流及港口增值服务、港口配套服务、金融服务等。主营业务收入构成为：装卸及相关业务 56.72%，物流及港口增值服务36.96%，港口配套服务-销售油、电及其他3.25%，港口配套服务-租金收 入1.95%，港口配套服务-工程等劳务1.13%。 来源：新浪证券-红岸工作室 11月26日，青岛港涨0.36%，成交额2.01亿元。两融数据显示，当日青岛港获融资买入额1141.18万元， 融资偿还1025.48万元，融资净买入115.70万元。截至11月26日，青岛港融资融券余额合计1.41亿元。 融资方面，青岛港当日融资买入1141.18万元。当前融资余额1.41亿元，占流通市值的0.31%，融资余额 超过近一年90%分位水平，处于高位。 融券方面，青岛港11月26日融券偿还0.00股，融券卖出700.00股，按当日收盘价计算，卖出金额5887.00 元；融券余量1.19万股，融券余额10.01万元，低于近一年40 ...

Core Insights - The article highlights a significant achievement by Qingdao Port, where a grain ship carrying 68,250 tons of wheat was unloaded in just 21 hours, setting a new record for grain unloading efficiency in China's port industry [1] Group 1 - Qingdao Port's innovative mechanisms and smart technologies contributed to the efficient and safe unloading of grain [1]

Core Viewpoint - Qingdao Port's stock experienced a slight decline of 0.36% on November 25, with a trading volume of 260 million yuan, indicating a stable market presence despite minor fluctuations [1] Financing Summary - On November 25, Qingdao Port had a financing buy-in amount of 19.13 million yuan, with a net financing purchase of 9.54 million yuan after repayments [1] - The total financing and securities balance for Qingdao Port reached 14 million yuan, accounting for 0.31% of its market capitalization, which is above the 90th percentile of the past year, indicating a high level of financing activity [1] - The securities lending data showed no shares were repaid, with 9,800 shares sold, amounting to 82,100 yuan, and a remaining securities lending balance of 93,900 yuan, which is below the 40th percentile of the past year, suggesting low borrowing activity [1] Company Overview - Qingdao Port International Co., Ltd. was established on November 15, 2013, and listed on January 21, 2019, focusing on various cargo handling services including containers, metal ores, coal, and crude oil [2] - The company's revenue composition includes 56.72% from handling and related services, 36.96% from logistics and port value-added services, and smaller contributions from other port-related services [2] - As of September 30, 2025, Qingdao Port reported a revenue of 14.24 billion yuan, a year-on-year increase of 1.86%, and a net profit attributable to shareholders of 4.18 billion yuan, reflecting a growth of 6.33% [2] Dividend and Shareholding Information - Since its A-share listing, Qingdao Port has distributed a total of 12.82 billion yuan in dividends, with 5.69 billion yuan distributed over the past three years [3] - As of September 30, 2025, the number of shareholders increased by 7.23% to 38,300, with significant holdings by various institutional investors, including the Southern S&P China A-Share Large Cap Dividend Low Volatility ETF [3]

Core Viewpoint - Qingdao Port's import and export cargo throughput from Japan accounts for less than 3% of the company's total cargo throughput [1] Group 1 - The company has indicated that its cargo throughput from Japan is minimal, representing a small fraction of overall operations [1]

Core Viewpoint - Qingdao Port's stock experienced a decline of 1.87% on November 24, with a trading volume of 260 million yuan and a market capitalization of 54.59 billion yuan [1] Group 1: Market Position and Performance - Qingdao Port is strategically located near South Korea, benefiting from the China-South Korea Free Trade Agreement, enhancing its position in the Northeast Asia port network [2] - The company has shown stable growth in revenue and profit, with a reported operating income of 14.24 billion yuan for the first nine months of 2025, a year-on-year increase of 1.86%, and a net profit of 4.18 billion yuan, up 6.33% [6] - The company has a history of high dividend yields, with rates of 4.80%, 4.74%, and 3.45% over the past three years [2] Group 2: Business Operations - Qingdao Port's main business includes the handling of containers, metal ores, coal, crude oil, and various logistics and port services, with the breakdown of revenue sources being 56.72% from handling and related services, 36.96% from logistics and port value-added services, and smaller percentages from other services [6] - The company has signed a cooperation agreement with Huawei to accelerate the development of smart port operations in major domestic ports [3] Group 3: Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders increased to 38,300, reflecting a 7.23% rise [6] - The top ten circulating shareholders include various funds, with notable increases in holdings from Southern S&P China A-share Large Cap Dividend Low Volatility ETF and Hong Kong Central Clearing Limited [8]

Investment Rating - The report maintains a "Recommended" rating, emphasizing the importance of defensive stability and timely investment opportunities in the transportation sector [1]. Core Insights - The transportation sector's performance in November 2025 was generally average, outperforming the CSI 300 index, with highways leading the performance among sub-sectors [4][10]. - The report highlights a low interest rate environment, with the 10-year government bond yield at 1.82% as of November 21, 2025, indicating a stable financial backdrop for investments [20]. - The report identifies high dividend yield opportunities in both A-shares and H-shares within the transportation sector, with specific recommendations for companies like Sichuan Chengyu and Anhui Wantong Highway [68][70]. Monthly Market Performance - The transportation sector saw a cumulative decline of 2.24% from November 1 to November 21, 2025, outperforming the CSI 300 index by 1.79 percentage points [9]. - The sub-sectors of highways, railways, and ports had cumulative declines of -2.11%, -2.47%, and -2.97% respectively during the same period, but all outperformed the CSI 300 index [10]. - Year-to-date performance showed highways down 11.11%, railways down 15.77%, and ports down 4.83%, indicating a challenging year overall [10]. Highway Sector Tracking - In September 2025, highway passenger traffic was 934 million, down 4.3% year-on-year, while freight traffic increased by 5.2% to 3.891 billion tons [28]. - The report notes that the highway sector is expected to see stable performance improvements in 2026, driven by policy optimizations and local state-owned enterprise actions [68]. Railway Sector Tracking - In October 2025, railway passenger volume reached 410 million, up 10.1% year-on-year, while freight volume was 4.58 million tons, a slight increase of 0.6% [40][43]. - The report emphasizes the potential for investment opportunities in the railway sector, particularly in high-quality assets like the Beijing-Shanghai High-Speed Railway [70]. Port Sector Tracking - The report indicates that port cargo throughput for the four weeks ending November 16, 2025, was 1.057 billion tons, reflecting a year-on-year growth of 4.6% [48]. - The report highlights the importance of long-term value in port assets, suggesting that leading ports are undervalued in terms of their earnings stability and potential for dividend growth [71][72].