股票代码：601598 股票简称：中国外运 编号：临 2025-041 号 中国外运股份有限公司 关于召开 2025 年第一季度业绩说明会的公告 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: 本公司已于 2025 年 4 月 30 日在上海证券交易所网站（www.sse.com.cn）发 布公司 2025 年第一季度报告。为便于广大投资者更全面深入地了解公司 2025 年 第一季度业绩和经营情况，本公司拟召开说明会。 一、说明会召开方式 说明会通过网络文字互动方式召开，本公司将针对 2025 年第一季度业绩和经 营情况与投资者进行交流，并在信息披露允许的范围内对投资者普遍关注的问题 进行回答。 二、说明会召开的时间和网址 会议内容：中国外运股份有限公司 2025 年第一季度业绩说明会 会议时间：2025 年 6 月 3 日 13:00-14:00 会议召开方式：网络文字互动 会议网址：上证路演中心（https://roadshow.sseinfo.com） 投 资 者 可 于 2025 年 5 月 29 日 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [8] Core Views - In Q1 2025, the company's operating revenue was 23.77 billion yuan, a year-on-year decrease of 2.2%, while the net profit attributable to shareholders was 640 million yuan, down 19.8% year-on-year. The main business operations remained stable, with a decline in investment income impacting overall performance [2][6] - The company experienced a 36.1% year-on-year decline in net investment income to 310 million yuan, primarily due to pressure on the performance of its subsidiary, Sinotrans DHL [2][6] - The report highlights the impact of U.S. tariff policies and the cancellation of small package exemptions, which are expected to affect air and sea freight demand on European and American routes. Close attention is needed on the subsequent tariff policies affecting the company's agency business and its subsidiary [2][6] Summary by Sections Financial Performance - In Q1 2025, the company's gross profit increased by 10.3% year-on-year to 1.38 billion yuan, with a gross margin improvement of 0.7 percentage points to 5.8%. The operating expenses ratio decreased by 0.2 percentage points to 4.1% [2][11] - The company's logistics volume showed mixed results, with contract logistics down 2.0% year-on-year, while project logistics and chemical logistics increased by 21.6% and 13.9%, respectively [11] Market Outlook - The company is actively expanding into emerging markets in Southeast Asia to mitigate the impact of tariff shocks. Strategic overseas network development is underway, with the completion of the second phase of the warehouse in Thailand [2][11] - The projected net profit attributable to shareholders for 2025, 2026, and 2027 is estimated at 3.56 billion, 3.73 billion, and 4.05 billion yuan, respectively, with corresponding P/E ratios of 10.2, 9.8, and 9.0 times [2][11]

今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | PEEK材料 | 3.40 | 赛马概念 | -1.41 | | 可控核聚变 | 2.76 | 自由贸易港 | -1.12 | | 草甘膦 | 2.72 | 养鸡 | -1.06 | | 华为汽车 | 2.18 | 航运概念 | -1.00 | | 一体化压铸 | 2.15 | 期货概念 | -0.83 | | 小米汽车 | 2.14 | 猪肉 | -0.83 | | 长安汽车概念 | 1.98 | 同花顺中特估100 | -0.71 | | 培育钻石 | 1.93 | 信托概念 | -0.70 | | 有机硅概念 | 1.92 | 粮食概念 | -0.69 | | 汽车热管理 | 1.82 | 白酒概念 | -0.68 | 资金面上看，今日自由贸易港概念板块获主力资金净流出2.50亿元，其中，18股获主力资金净流出，11 股主力资金净流出超千万元，净流出资金居首的是中国外运，今日主力资金净流出8097.88万元，净流 出资金居前的还有锦江航运、华贸物流、中远海 ...

Core Insights - The container leasing industry is a crucial pillar in the logistics sector, providing leasing services for various transportation modes including maritime, land, and air [1][14] - The industry has evolved from initial exploration to a mature market since the rise of containerized transport in the 1960s, experiencing rapid growth due to globalization and increased cross-border trade [1][14] - China, as the largest producer and consumer of containers, is witnessing a continuous increase in the market size of the container leasing industry, projected to reach approximately 30 billion yuan in 2024, reflecting an 8.3% year-on-year growth [1][14] Industry Overview - Container leasing involves agreements between leasing companies and lessees, typically shipping lines or transport companies, for the rental of containers, with responsibilities for maintenance and repair resting on the lessee [3] - The leasing methods can be categorized into three types: time charter, voyage charter, and flexible leasing [3] Market Dynamics - The Chinese container leasing market is expected to continue expanding, particularly driven by the rapid development of emerging markets [1][14] - Government policies have been introduced to promote the development of the container leasing market, including initiatives to encourage collaboration between rail and shipping companies and the establishment of container return points [5][12] Industry Chain - The container leasing industry chain consists of upstream raw material suppliers and container manufacturers, midstream leasing companies, and downstream users including maritime, rail, road, and air transport [8] Current Development - In 2024, China's metal container production is projected to reach 29.8956 million cubic meters, a 177% year-on-year increase, with continued growth expected into 2025 [10] - Container throughput in China is also on the rise, increasing from 26.4 million TEUs in 2020 to an estimated 33.2 million TEUs in 2024, indicating strong demand for container leasing services [12] Competitive Landscape - The industry exhibits a high degree of market concentration, with the top five companies controlling 84.8% of the total container fleet, and the top ten companies holding 92.7% [16] - Major players include China COSCO Shipping Corporation, China International Marine Containers, Bohai Leasing, and China Foreign Trade Development Company [16][18] Future Trends - The container leasing industry is expected to benefit from the rapid development of emerging markets in Asia and Africa, technological innovations, and supportive government policies [22]

Core Viewpoint - The opening of the international road transport route from China to Hanoi, Vietnam, marks a significant advancement in cross-border transportation facilitation between China and Vietnam, utilizing the CBTA agreement for the first time [1][3]. Group 1: Transport Route Details - The new transport routes include two lines: from Nanning, Guangxi, and from Kunming, Yunnan to Hanoi, Vietnam [3]. - A total of 12 trucks were dispatched, with 6 originating from Qingdao, and the journey covers approximately 400 kilometers, expected to take 2 days [3][5]. - The transport process is supported by representatives from transportation, customs, and border defense departments from both countries, ensuring smooth operations and safety [3][5]. Group 2: Efficiency and Cost Savings - The new direct transport method allows for "door-to-door" delivery, significantly reducing transit time by about 1 day per truck and saving costs between 800 to 1000 yuan [5]. - The initiative aims to enhance the efficiency of cross-border transport and reduce overall transportation costs [5]. Group 3: Future Developments - Following the opening activities, both sides will evaluate the transport conditions and risks, aiming to address issues affecting transportation facilitation [5]. - The Qingdao Transportation Bureau plans to further support and cultivate international road transport, enhancing logistics channels to facilitate more businesses in expanding internationally [7].

Meeting Information - The annual general meeting of China National Freight Forwarding Co., Ltd. is scheduled for June 5, 2025, at 10:00 AM [1] - The meeting will be held at the conference room on the 11th floor of Building B, No. 10, An Ding Road, Chaoyang District, Beijing [1] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange's voting system [1] Voting Procedures - Shareholders can vote via the Shanghai Stock Exchange's online voting system from 9:15 AM to 3:00 PM on the day of the meeting [1][2] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts for the same class of shares [3] - Votes cast through different methods for the same voting right will be counted based on the first vote recorded [3] Attendance Requirements - Shareholders registered by the close of trading on May 30, 2025, are eligible to attend the meeting [4] - Shareholders must submit a notice of attendance by June 3, 2025, and can do so in person, by mail, or by fax [4][5] - Required documents for attendance include valid identification and proof of shareholding [5] Additional Information - The company will not cover travel and accommodation expenses for attending shareholders [5] - Contact information for the company's board office is provided for any inquiries related to the meeting [5]

Core Points - The company is holding its first A-share and H-share shareholder meetings on June 5, 2025, with a focus on a special resolution regarding the repurchase of H-shares [1][4] - The meeting will utilize both on-site and online voting methods to ensure shareholder participation [1][3] - The company has proposed a general authorization for the repurchase of up to 10% of its issued H-shares, contingent upon market conditions and compliance with relevant regulations [4][5] Meeting Details - The meeting will take place at the company's headquarters in Beijing, with a registration date set for May 30, 2025 [1] - Voting will occur during specified trading hours on the day of the meeting, allowing for both physical and online participation [1][2] - The agenda includes the announcement of attendees, discussion of proposals, and voting on the repurchase authorization [2][3] Repurchase Authorization - The proposed repurchase authorization allows the company to buy back H-shares within a specified timeframe, which ends at the next annual shareholder meeting or 12 months after the resolution is passed [5] - The company plans to use legally permissible funds for the repurchase, ensuring that it does not adversely affect its financial position [5][6] - The maximum number of H-shares eligible for repurchase is approximately 201,628,100, based on the current issued shares [5][6]

证券代码：601598 证券简称：中国外运 公告编号：临 2025-039 号 中国外运股份有限公司 关于召开2024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 2024年度股东大会 (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 5 日 10 点 00 分 召开地点：北京市朝阳区安定路 5 号院 10 号楼招商局广场 B 座 11 层 1 号会 议室 (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 5 日 至2025 年 6 月 5 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 股东大会召开日期：2025年6月5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 ...

中国外运股份有限公司 2025 年第一次 A 股类别股东大会及 2025 年第一次 H 股类别股东大 2025 年第一次 A 股类别股东大会及 2025 年第一次 H 股类别股东大会 会议资料 二〇二五年六月五日 目录 | 年第一次 | 股类别股东大会及 | 年第一次 | 股类别股东大会会议议程1 | 2025 | A | 2025 | H | | --- | --- | --- | --- | --- | --- | --- | --- | | 股东大会注意事项 | 3 | | | | | | | | 议案一：关于申请回购 | 股股份的一般性授权的议案 4 | H | | | | | | 会会议议程 股东大会类型和届次：2025 年第一次 A 股类别股东大会及 2025 年第一次 H 股类 别股东大会 股东大会召集人：公司董事会 投票方式：本次股东大会的表决采用现场投票和网络投票相结合的方式 现场会议召开的日期、时间和地点： 2025 年第一次 H 股类别股东大会召开的日期时间：2025 年 6 月 5 日 11 点 00 分或紧随同日同地召开的 2024 年度股东大会之后 2025 年第一次 A 股类别股 ...

证券代码：601598 证券简称：中国外运 公告编号：临 2025-040 号 中国外运股份有限公司 关于召开 2025 年第一次 A 股类别股东大会和 2025 年 第一次 H 股类别股东大会的通知 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5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（仅限于A股股东） 2025 年第一次 H 股类别股东大会的相关事宜请参见公司于 2025 年 5 月 15 日在香港联合交易所有限公司网站（www.hkexnews.hk）发布的相关公告。 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025 年第一次 A 股类别股东大会和 2025 年第一次 H 股类别股东大会 (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 至 2025 年 6 月 5 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 ...