Core Viewpoint - China National Foreign Trade Transportation Group (China Foreign Trade) announced that it will hold a board meeting on October 27, 2025, to consider and approve the unaudited performance for the third quarter ending September 30, 2025 [1] Summary by Category - Company Announcement - The board meeting is scheduled for October 27, 2025 [1] - The meeting will focus on the approval of the unaudited performance of the company and its subsidiaries [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，且表明不會就本公告全部或任何部分內容所導 致或因倚賴該等內容而產生的任何損失承擔任何責任。 中國外運股份有限公司 Sinotrans Limited (於中華人民共和國註冊成立的股份有限公司) (股份代號: 00598) 董事會會議通告 中國外運股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於 二零二五年十月二十七日（星期一）舉行董事會會議，藉以考慮及批准（其中包括） 本公司及其附屬公司截至二零二五年九月三十日止第三季度之未經審計業績及其發 佈。 承董事會命 中國外運股份有限公司 公司秘書 李世礎 北京，二零二五年十月十四日 於本公告日期，本公司董事會成員包括张翼（董事長）、高翔、楊國峰、羅立、余志 良、黃傳京、許克威，以及四位獨立非執行董事王小麗、甯亞平、崔新健及崔凡。 - 1 - ...

Market Overview - On October 14, the logistics sector declined by 0.42% compared to the previous trading day, with Furan De leading the decline [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Stock Performance - Notable gainers in the logistics sector included: - Gongxi Duhai (code: 920351) with a closing price of 29.80, up 10.74% and a trading volume of 83,700 shares, totaling 244 million yuan [1] - Yuanda Holdings (code: 000626) with a closing price of 7.33, up 10.06% and a trading volume of 109,600 shares, totaling 77.99 million yuan [1] - Other gainers included Feilida (code: 300240) up 3.79%, and Tiensun Co. (code: 002800) up 3.64% [1] Fund Flow Analysis - The logistics sector experienced a net outflow of 255 million yuan from institutional investors, while retail investors saw a net inflow of 265 million yuan [2] - Key stocks with significant fund flows included: - Yuanda Holdings with a net inflow of 31.93 million yuan from institutional investors [3] - Feilida with a net inflow of 26.53 million yuan from institutional investors [3] - Notably, Yunda Holdings had a net outflow of 47.03 million yuan from speculative funds [3]

Core Viewpoint - China National Foreign Trade Transportation Group Corporation (China National Foreign Trade) experienced a stock price decline of 2.03% on October 14, with a current price of 6.26 CNY per share and a total market capitalization of 45.524 billion CNY [1] Financial Performance - For the first half of 2025, China National Foreign Trade reported operating revenue of 50.523 billion CNY, a year-on-year decrease of 10.37%, while net profit attributable to shareholders was 1.947 billion CNY, reflecting a slight increase of 0.10% [2] - The company has distributed a total of 10.76 billion CNY in dividends since its A-share listing, with 6.698 billion CNY distributed over the past three years [3] Stock Market Activity - Year-to-date, the stock price of China National Foreign Trade has increased by 20.20%, but it has seen a decline of 4.13% over the last five trading days [1] - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on September 29, where it recorded a net purchase of 9.7765 million CNY [1] Shareholder Information - As of June 30, 2025, the number of shareholders for China National Foreign Trade was 50,500, an increase of 5.04% from the previous period, with an average of 104,337 circulating shares per shareholder, a decrease of 4.81% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 45.6223 million shares, a decrease of 13.5121 million shares from the previous period [3]

Investment Rating - The report rates the transportation industry as "Outperform" [2] Core Views - The report highlights a slowdown in holiday shipments and a decline in crude oil shipping rates, while container shipping rates for long-distance routes have rebounded [3][14] - Shenzhen has introduced detailed policies to support low-altitude economic development, and international flight routes have resumed during the 2025 National Day and Mid-Autumn Festival holidays [3][16] - China's express delivery volume reached 150 billion packages ahead of schedule, with strategic cooperation agreements signed between YTO Express and Huizhou [3][23] Summary by Sections Industry Hotspot Events - Holiday shipments have slowed, leading to a drop in crude oil shipping rates, while container shipping rates for long-distance routes have rebounded. The China Import Crude Oil Comprehensive Index (CTFI) was reported at 1407.48 points, down 26.2% from September 25 [3][14] - Shenzhen's transportation bureau released measures to support low-altitude economic development, effective from October 9, 2025, to December 31, 2026. During the holiday, civil aviation transported 19.138 million passengers, with an average of 2.392 million passengers per day, a year-on-year increase of 3.2% [3][16][18] - As of October 11, 2025, China's express delivery volume surpassed 150 billion packages, achieving this goal 37 days ahead of schedule compared to 2024. A strategic cooperation agreement was signed between the Huizhou government and YTO Express [3][23][24] Industry High-Frequency Data Tracking - The Baltic Air Freight Price Index increased month-on-month but decreased year-on-year. The Shanghai outbound air freight price index was reported at 4621.00 points, down 5.3% year-on-year but up 1.3% month-on-month [28] - In September 2025, domestic cargo flights increased by 3.05% year-on-year, while international flights rose by 15.86% year-on-year [33] - The SCFI index for container shipping was reported at 1160.42 points, up 4.12% week-on-week but down 43.74% year-on-year [40] Investment Recommendations - The report suggests focusing on the equipment and manufacturing industrial product export chain, recommending companies such as COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics [4] - It also highlights investment opportunities in the low-altitude economy, recommending CITIC Offshore Helicopter [4] - The report advises attention to the road and rail sector, recommending companies like Gansu Expressway, Beijing-Shanghai High-Speed Railway, and Anhui Expressway [4][5]

本交易涉及其他关联方：Pandanus Associates Inc.，Pandanus Partners L.P.。 智通财经APP获悉，香港联交所最新资料显示，10月2日，FIL Limited减持中国外运(00598)137.9万股， 每股作价5.028港元，总金额约为693.36万港元。减持后最新持股数目约为1.61亿股，最新持股比例为 7.97%。 ...

本交易涉及其他关联方：Pandanus Associates Inc.，Pandanus Partners L.P.。 智通财经APP获悉，香港联交所最新资料显示，10月2日，FIL Limited减持中国外运(00598)137.9万股， 每股作价5.028港元，总金额约为693.36万港元。减持后最新持股数目约为1.61亿股，最新持股比例为 7.97%。 ...

证券代码：601598 证券简称：中国外运 公告编号：临 2025-073 号 内。具体回购方案的内容详见公司于 2024 年 11 月 21 日在上海证券交易所网站 （www.sse.com.cn）披露的《关于以集中竞价交易方式回购公司 A 股股份的回购 报告书》。 二、回购 A 股股份的进展情况 截至 2025 年 9 月 30 日，公司通过上海证券交易所交易系统以集中竞价交易 方式累计回购公司 A 股股份 88,254,536 股，占公司截至 2025 年 9 月 30 日总股 本的比例为 1.21%，购买的最高价为 5.32 元/股、最低价为 4.67 元/股，已支付的 总金额为人民币 448,336,545.94 元（不含交易费用）。 本次回购符合相关法律法规的规定及公司回购股份方案的要求。 三、其他事项 中国外运股份有限公司 关于以集中竞价交易方式回购公司 A 股股份的 进展公告 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： | 回购方案首次披露日 | | | | 2024 年 10 月 | 17 ...

北京市嘉源律师事务所 关于中国外运股份有限公司差异化分红事项 的专项核查意见 IIA YUAN LAW 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 二〇二五年九月 .00L. 北京 BEI JING · 上海 SHANGHAI · 深圳 SHENZHEN · 香港 HONG KONG · 广州 GUANGZHOU · 西安 XI'AN 致:中国外运股份有限公司 北京市嘉源律师事务所 关于中国外运股份有限公司差异化分红事项 的专项核查瘦见 嘉源(2025)-05-337 敬启者: 到独立的证据支持的事实,或者基于本所专业无法作出核查及判断的重要事实, 本所依赖政府有关部门、公司或者其他有关机构出具的证明文件作出判断。 本所仅就与本次差异化分红有关的法律问题发表意见,本所在本核查意见中 对有关会计报表、审计报告中某些数据和结论的引述,不表明本所对这些数据、 结论的真实性和准确性做出任何明示或暗示的保证。对本次差异化分红所涉及的 财务数据等专业事项,本所未被授权、亦无权发表任何评论。 受中国外运股份有限公司(以下简称"公司")委托,北京市嘉源律师事务 所(以下简称"本所")就公司 2025 年半年度 ...

证券代码：601598 证券简称：中国外运 公告编号：临 2025-072 号 中国外运股份有限公司 2025年半年度权益分派实施公告 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： 每股分配比例 （1）差异化分红方案 A 股每股现金红利0.145元（含税）（单位：人民币，下同） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/10/17 | － | 2025/10/20 | 2025/10/20 | 一、 通过分配方案的股东会届次和日期 中国外运股份有限公司（以下简称：公司）2025 年 6 月 5 日的2024年度股东会审议通过 了《关于申请 2025 年中期利润分配方案授权的议案》，同意授权公司董事会根据公司 2025 年 上半年盈利情况及资金需求状况等因素，并参考以往的派息比率，合理决定宣派、派付 2025 年中期股息。据此，公司于 2025 年 8 月 26 日召开 ...