招商轮船在过去几年中通过多板块的业务布局，展现了良好的盈利表现和韧性。 公司一直积极回报股东，创造投资价值。油运板块、干散货行业以及集运市场 的盈利表现都受到广泛关注，公司在这些领域的运营情况也得到了认可。 近期国际政治经济形势对航运市场有哪些影响？ 近期国际政治经济形势复杂多变，从去年（2024 年）的 301 关税到今年 招商轮船 20250604 摘要 国际政治经济形势复杂，关税变化、伊核协定谈判、OPEC 增产、俄乌 冲突及以伊冲突均对航运市场产生影响，尤其 OPEC 增产和美国限制伊 朗、俄罗斯石油出口，改变石油市场供需结构，可能增加短期非贸易类 运输机会。 油运市场受 OPEC 增产和美国对伊朗、俄罗斯石油出口限制影响，全球 石油需求相对较弱。若 OPEC 持续增产，将调整全球石油供应结构，并 可能促进短期非贸易类运输机会增加，但需关注需求上涨而非价格波动。 干散货市场动力主要来自 Cape 船运输需求，煤炭和铁矿石需求相对较 弱，但铝土矿运输量增长显著。中美贸易谈判中的煤炭和粮食贸易协定、 西非铁矿石项目投产等因素可能带来积极影响。 集运市场受美国关税政策变化影响显著，招商轮船在东北亚、东南亚、 ...

Core Viewpoint - The restructuring and spin-off plan of China Merchants Energy Shipping Company has been terminated, leading to a slight increase in its stock price by 0.17%, while the stock price of Antong Holdings dropped by 5.03% [1]. Group 1: Announcement Details - On May 27, both China Merchants Energy Shipping and Antong Holdings announced the termination of their restructuring plan, which involved the spin-off of subsidiaries China Merchants Jinling and China Merchants Roll-on Roll-off through a share issuance by Antong Holdings [2]. - The reason for the termination was attributed to the lack of consensus on transaction terms among the parties involved and changes in market conditions and the actual situation of the target companies since the initial planning [2]. - Antong Holdings stated that the termination would not have a significant adverse impact on its operational and financial status, nor would it harm the interests of the company and minority shareholders [2]. Group 2: Impact on Operations - China Merchants Energy Shipping indicated that the termination of the spin-off is not expected to negatively affect shareholder interests or the company's existing operations and financial status [2]. - Both companies affirmed that their strategic planning and operational activities would remain unaffected by the termination of the restructuring [2]. - A representative from Antong Holdings confirmed that the termination would not impact the cooperative relationship with China Merchants, which has been ongoing [3]. Group 3: Background Information - Prior to the termination announcement, investors had inquired about the restructuring progress, including issues related to valuation and market management [5]. - The spin-off was intended to create a focused public platform for container shipping logistics for China Merchants Energy Shipping [5]. - Antong Holdings has established a comprehensive business network covering coastal and inland areas, with a total container throughput exceeding 13.7 million TEU in 2023, ranking among the top in several domestic ports [5].

Group 1 - China Merchants Energy announced the termination of the restructuring plan for its subsidiaries, China Merchants Container Shipping and China Merchants Roll-on Roll-off, due to lack of consensus on transaction terms and changes in market conditions [1] - The company will maintain its current equity structure, while Antong Holdings will take over the controlling stake of the subsidiaries [1] - China Merchants Container Shipping operates 30 vessels with a total capacity of 47,678 TEU, ranking 34th among global liner companies [1] Group 2 - Muyuan Foods has submitted an application for the issuance and listing of H-shares on the Hong Kong Stock Exchange, with the application materials published on the exchange's website [1] - In 2024, Muyuan Foods achieved a revenue of 137.947 billion yuan, a year-on-year increase of 24.43%, and a net profit of 18.925 billion yuan, up 554.07% [2] - The company sold 71.602 million pigs, including 65.477 million market pigs and 1.2524 million slaughtered pigs, with pork product sales totaling 141,590 tons [2] Group 3 - Optoelectronics Co. received approval from the China Securities Regulatory Commission for its application to issue shares to specific investors [3] - Xingqi Eye Medicine plans to raise no more than 850 million yuan through a private placement of shares for research and development center construction and working capital [4] - Jinyang Co. intends to issue convertible bonds to raise no more than 980 million yuan for lithium battery precision components projects and working capital [5] Group 4 - Nanjing Chemical Fiber received approval from the Jiangsu Provincial State-owned Assets Supervision and Administration Commission for a major asset swap and fundraising plan [8] - Zhongcheng Co. plans to acquire 100% equity of Zhongji Jiangsu and raise funds from no more than 35 specific investors, enhancing its capabilities in energy storage projects [8] Group 5 - Guotai Haitong plans to increase its capital by 1.5 billion yuan to Guotai Junan Futures for net capital supplementation [9] - Zhinan Compass's chairman resigned due to personal reasons, with the vice chairman temporarily taking over the responsibilities [10] Group 6 - Youa Co. intends to acquire 100% equity of Shenzhen Shangyangtong for 1.58 billion yuan, marking a strategic shift into the power semiconductor sector [11] - ST Dongjing is planning a change in control, with stock suspension starting from May 28, 2025, due to negotiations with a third party [12] - Su Shi Testing plans to acquire 23.73% equity of its subsidiary Su Shi Yite for 336 million yuan, increasing its stake from 73.82% to 97.55% [13] Group 7 - Wangzi New Materials elected Wang Jinjun as chairman and appointed him as CEO for a three-year term [14] - Nanjing Public Utilities plans to merge its wholly-owned subsidiary to optimize management structure and reduce costs [14] - Western Securities plans to issue up to 1 billion yuan in technology innovation corporate bonds to supplement working capital [14] Group 8 - Lutianhua intends to acquire 100% equity of Luzhou Hongsheng Chemical Park Operations for 676 million yuan, facilitating its project implementation [15] - Camel Group elected Liu Changle as chairman during its board meeting [15] - Yapu Co. plans to purchase approximately 54.5% of Yingshuang Technology for about 578 million yuan to enhance its automotive parts strategy [15] Group 9 - Luoping Zinc Electric is planning a change in control, with stock suspension starting from May 28, 2025, pending regulatory approval [16]

Group 1 - China Merchants Industry announced the termination of the restructuring and spin-off of its subsidiaries, China Merchants Jinling and China Merchants Roll-on Roll-off, due to a lack of consensus on transaction terms and changes in market conditions [2] - Sichuan Road and Bridge is planning a related party transaction to acquire 100% equity and debt rights of Chengdu New Road and Bridge Machinery Co., which is expected to be a related party transaction but not a major asset restructuring [2] - Guotai Junan Securities plans to increase its capital by 1.5 billion yuan to Guotai Junan Futures Co., Ltd. to supplement its net capital [5] Group 2 - Innovation New Materials intends to register and issue short-term financing bonds not exceeding 500 million yuan and medium-term notes not exceeding 1.5 billion yuan to enhance liquidity management [3] - Gree Electric's wholly-owned subsidiary plans to sell 5.9088% equity of Winshang Technology for 62.6333 million yuan, which will improve asset liquidity and cash flow [4] - Yapu Co. plans to purchase approximately 54.5% of Winshang Technology for about 578 million yuan to accelerate its strategic development in key automotive components [6] Group 3 - Deep Highway announced that Yunshan Capital increased its holdings in the company's H-shares by 10.81 million shares, bringing its total shareholding to 254 million shares, accounting for 10% of the total share capital [7] - Aichuang Data plans to procure servers worth up to 4 billion yuan to provide computing power leasing services [8] - Luoping Zinc Electric is transferring 22.4% of its shares to Qujing Development Investment Group, with trading suspension starting from May 28 due to control change planning [9] Group 4 - Zhongke Haixun signed a contract for an information processing subsystem procurement project worth 163 million yuan [10] - Enhua Pharmaceutical's associate company Jiangsu Haoxin Qing plans to go public overseas to expand financing channels and is establishing a red-chip structure [11] - Yunnan Energy Investment has been awarded the development rights for three wind farm projects, including the Fuyuan Nanchong Wind Farm [13]

证券代码：601872 证券简称：招商轮船 公告编号：2025[028] 招商局能源运输股份有限公司 关于终止分拆子公司重组上市的公告 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。 招商局能源运输股份有限公司（下称"公司"、"上市公司"或 "招商轮船"）于 2025 年 5 月 27 日召开第七届董事会第二十次会议、 第七届监事会第十五次会议，审议通过了《关于终止参与安通控股股 份有限公司重大资产重组暨公司分拆所属子公司重组上市的议案》， 同意公司终止分拆所属子公司中外运集装箱运输有限公司（下称"中 外运集运"）、广州招商滚装运输有限公司（下称"招商滚装"）通 过与安通控股股份有限公司（股票简称：安通控股 上海证券交易所 上市公司，证券代码：600179）进行重组的方式实现重组上市（以下 简称"本次分拆"或"本次交易"）事项，并授权公司管理层办理本 次终止相关事宜。现将有关情况公告如下： 一、本次分拆的基本情况 招商轮船拟分拆所属子公司中外运集运、招商滚装，通过与安通 控股进行重组的方式实现重组上市，即安通控股向公司发行股 ...

证券代码：601872 证券简称：招商轮船 公告编号：2025[027] 表决情况：同意 3 票，反对 0 票，弃权 0 票。 招商局能源运输股份有限公司（下称"公司"）第七届监事会 第十五次会议通知及补充通知分别于 2025 年 5 月 20 日和 5 月 21 日以电子邮件或传真的方式送达各位监事，会议于 2025 年 5 月 27 日以书面方式召开。公司监事会主席孙湘一先生、监事吴 月华先生、职工监事庄婕女士审议了会议议案并表决。会议的召 集、召开符合《公司法》等法律、行政法规和部门规章以及《招 商局能源运输股份有限公司章程》等相关规定。 出席会议的监事采取记名投票方式表决通过如下议案： 一、关于终止参与安通控股股份有限公司重大资产重组暨 公司分拆所属子公司重组上市的议案 招商轮船原计划分拆所属子公司中外运集装箱运输有限公 司、广州招商滚装运输有限公司通过与安通控股股份有限公司进 行重组的方式实现重组上市。鉴于交易各方尚未就交易条款等相关 1 事项协商一致，且考虑到本次交易事项自筹划以来历时较长，当前市 场环境及标的公司实际情况较本次交易筹划初期已发生一定变化，公 司全体监事经充分考虑及审慎论证后，同意 ...

证券代码：601872 证券简称：招商轮船 公告编号：2025[026] 招商局能源运输股份有限公司 第七届董事会第二十次会议决议公告 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。 招商局能源运输股份有限公司（下称"公司"、"本公司"）2025 年 5 月 20 日、2025 年 5 月 21 日以电子邮件、书面送达等方式向公 司全体董事、监事和高级管理人员书面发出《公司第七届董事会第二 十次会议通知》《关于公司第七届董事会第二十次会议的补充通知》。 2025 年 5 月 27 日，公司第七届董事会第二十次会议（下称"本次会 议"）以书面会议方式召开。本次会议应出席董事 12 名，实际出席 董事 12 名。本次会议召开的时间、方式符合《公司法》等法律、行 政法规和部门规章以及《公司章程》的有关规定，形成的会议决议合 法、有效。 本次会议以投票表决方式审议通过了如下议案： 内容详见公司同日披露的《招商轮船关于终止分拆子公司重组上 市的公告》（公告编号：2025[028]号）。 二、关于提名黄传京先生为公司第七届董事会非独立董 ...

Core Viewpoint - The company has decided to terminate the restructuring and spin-off of its subsidiaries, China Merchants Jinling and China Merchants Roll-on Roll-off, through a merger with Antong Holdings due to a lack of consensus on transaction terms and changes in market conditions and the actual situation of the target company [1] Group 1 - The decision was made during the 20th meeting of the 7th Board of Directors held on May 27, 2025 [1] - The termination of the spin-off will not adversely affect the interests of the company's shareholders [1] - The company's existing production operations and financial status will not be negatively impacted by this termination [1] Group 2 - The termination will not have a substantial effect on the implementation of the company's strategic planning [1]

Summary of Key Points Core Viewpoint - The company has successfully completed a share buyback program, repurchasing approximately 69.27 million shares, which represents 0.85% of its total share capital, with the aim of reducing registered capital and enhancing shareholder value [1][2]. Group 1: Buyback Plan Details - The buyback plan was first disclosed on October 18, 2024, and was approved by the board and shareholders [1]. - The expected buyback amount ranges from 222 million yuan to 443 million yuan, with a maximum buyback price set at 10.85 yuan per share [1]. - The actual buyback price ranged from 5.74 yuan to 7.05 yuan per share, with an average buyback price of 6.40 yuan per share [1][2]. Group 2: Implementation and Results - The buyback was executed through centralized bidding, with the first buyback occurring on November 8, 2024, and the completion of the buyback plan reported by May 20, 2025 [1][2]. - The total funds used for the buyback amounted to approximately 442.98 million yuan, excluding transaction fees [1][2]. Group 3: Share Cancellation and Capital Reduction - The repurchased shares will be canceled, leading to a reduction in the company's registered capital [1][4]. - The company has followed legal procedures for notifying creditors regarding the cancellation of treasury shares, with no objections received during the public notice period [4]. - The cancellation of the repurchased shares is scheduled for May 22, 2025, with necessary registration changes to be processed [4].

Core Viewpoint - The company, China Merchants Energy Transportation Co., Ltd., is holding a performance briefing for the first quarter of 2025 on May 29, 2025, to discuss its operational results and financial status with investors [1][2]. Group 1: Meeting Details - The performance briefing is scheduled for May 29, 2025, from 14:00 to 15:00 [1][2]. - The meeting will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an online text interaction format [1][2]. - Investors can submit questions from May 22 to May 28, 2025, before 16:00, through the Roadshow Center website or via the company's investor relations email [2][3]. Group 2: Participants and Interaction - Key participants in the meeting will include the company's General Manager, Mr. Wang Yongxin, and other board members and financial executives [2]. - Investors can register on the Roadshow Center platform to participate in the meeting and will have the opportunity to have their questions answered [2][3]. Group 3: Contact Information - The contact department for inquiries is the Board Office, with a contact number provided for further assistance [3].