证券代码：601872 证券简称：招商轮船 公告编号： 2025[062] 招商局能源运输股份有限公司 关于召开2025年第三次临时股东会的通知 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) 股东会类型和届次 2025年第三次临时股东会 召开的日期时间：2025 年 12 月 29 日 14 点 30 分 召开地点：深圳市南山区招商街道五湾社区邮轮大道 5 号太子湾海纳仓（招 商积余大厦）会议室 股东会召开日期：2025年12月29日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (二) 股东会召集人：董事会 (三) 投票方式：本次股东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 (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会网络投票系统 网络投票起止时间：自2025 年 12 月 29 日 至2025 年 12 月 29 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 ...

证券代码：601872 证券简称：招商轮船 公告编号：2025[059] 招商局能源运输股份有限公司 第七届董事会第二十五次会议决议公告 本公司董事会、全体董事保证本公告内容不存在虚假记载、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（以下简称"公司"、"本公司" 及"招商轮船"） 2025 年 11 月 28 日以电子邮件、书面送达等方式 向公司全体董事、高级管理人员书面分别发出《公司第七届董事会第 二十五次会议通知》。2025 年 12 月 5 日，公司第七届董事会第二十 五次会议（以下简称"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以下议案： 一、关于公司 2026 年度日常关联交易预计情况的议案 董事会预计了公司 2026 年可能发生的日常关联交易情况，并同 意提交股东会审议。 1、预计 2026 年度公司与招商局船舶工业集团有限公司及其下属 ...

波罗的海干散货指数(BDI)15连涨，机构看好后市。 今日(12月4日)市场全天探底回升，创业板指涨超1%。机器人概念股走强，商业航天反复活跃。海南、大消费、培育钻石等板块跌幅居前。 摩尔线程概念股拉升，和而泰、盈趣科技等涨停，摩尔线程12月3日晚间发布公告称，公司股票将于12月5日在上海证券交易所科创板上市。 今日盘后，航天机电(600151)发布公告称，公司股票于2025年12月3日和4日连续两个交易日，收盘价格涨幅偏离值累计超过20%。11月28日至12月4日公司 股价五个交易日累计涨幅达46.85%。 据证券时报·数据宝统计，航运港口概念股年内股价平均上涨17.41%，海峡股份、国航远洋、南京港、厦门港务、海航科技的股价涨幅居前，均超50%。 公司目前主要经营汽车热系统产业和光伏产业两大产业。2024年度公司实现营业收入53.49亿元，合并利润总额亏损6373.32万元。公司2025年前三季度实 现营业收入26.52亿元，较上年同期减少36.1%，归母净利润-2.47亿元，较上年同期亏损加大，基本每股收益-0.1721元。目前公司主营业务不涉及商业航 天。 海峡股份年内涨幅居首，累计上涨89.83%。 ...

Summary of Key Points from Conference Call Records Industry Overview - **Transportation Sector**: Focus on supply-demand improvement and growth stocks for 2026, with a historical high in airline passenger load factor in 2025 but a decline in ticket prices due to weak demand and competition among airlines [1][6] - **Oil Shipping Sector**: Expected to benefit from OPEC+ production increases, long-distance crude oil exports, and geopolitical factors, leading to an anticipated rise in freight rates [1][4] - **Express Delivery Industry**: Slowing internal growth with price pressures and competition from instant delivery services, with a projected price decline of around 2% in 2026 [1][22] Core Insights and Arguments - **Airline Industry**: - Supply growth is expected to slow to 4.4% in 2026 due to fewer aircraft introductions and high utilization rates. Demand growth is projected at 5.3%, slightly above GDP growth, driven by business recovery and increased inbound tourism [2][6] - Airlines are expected to focus on ticket pricing management due to historical high load factors, with significant profit elasticity anticipated [2][6] - **Oil Market**: - Global crude oil supply is expected to be in surplus in 2026, primarily from the U.S. and Brazil, leading to a decline in oil prices [1][10][11] - Geopolitical factors will add marginal volatility, with freight rates expected to stabilize around $50,000 to $60,000 [12][13] - **Port and Shipping Industry**: - The port sector is experiencing low single-digit growth in export volumes, with a recovery in import bulk cargo throughput expected in 2026 [3][15] - The shipping sector is entering an upward cycle, with expectations for a second wave of price increases post-Spring Festival [1][8] - **Express Delivery Companies**: - Recommended companies include ZTO Express, SF Express, and Jitu Express, focusing on cost optimization through automation and potential growth in Southeast Asia [1][24] Additional Important Insights - **Railway Logistics**: - Container penetration in the railway logistics sector is expected to increase significantly, with recommendations for leading companies in this niche [3][20] - **Airport Sector**: - A neutral outlook due to slow recovery in non-aeronautical revenue streams, with a need for more effective monetization strategies [3][7] - **Market Recommendations**: - Investors are advised to hold current positions or increase holdings during seasonal lows in December and January, particularly in the oil shipping sector [13] - **Growth Stocks**: - Focus on industry leaders with attractive valuations, companies in expanding niches, and high-dividend stocks for stable returns [1][5] This summary encapsulates the key points from the conference call records, providing a comprehensive overview of the transportation sector's outlook for 2026, including specific recommendations and insights into various sub-sectors.

数据显示，截至2025年11月28日，国证石油天然气指数(399439)前十大权重股分别为中国石油 (601857)、中国石化(600028)、中国海油(600938)、杰瑞股份(002353)、广汇能源(600256)、招商轮船 (601872)、新奥股份(600803)、中远海能(600026)、大众公用(600635)、海油工程(600583)，前十大权重 股合计占比65.78%。 油气ETF(159697)，场外联接(A：019827；C：019828；I：022861)。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 天风证券指出，对2026年原油供需增量判断，情景假设分析：①OPEC若26年Q2重启增产路径，预计 2026年全球供应增量为193万桶/日；相比2025年的过剩幅度增加93万桶/日。②OPEC若26年都不重启增 产，预计2026年全球供应增量为165万桶/日；相比2025年的过剩幅度增加65万桶/日。 油气ETF紧密跟踪国证石油天然气指数，国证石油天然气指数反映沪深北交易所石油天然气产业相关上 市公司的证券价格变化情况。 截至2025年12月4日 09:43， ...

Market Overview - The A-share market saw all three major indices close lower, with a total trading volume of 1.6 trillion yuan, a decrease of over 280 billion yuan compared to the previous trading day [1] - Over 1,500 stocks rose, with 55 stocks hitting the daily limit up [1] - The pharmaceutical sector led the gains, with stocks like Renmin Tongtai and Kaikai Industrial hitting the limit up [1] Investor Activity - In November, 2.3717 million new A-share accounts were opened, an increase of 69,500 accounts or 3.02% month-on-month [1] - Cumulatively, 24.7467 million new accounts were opened in the first 11 months, bringing the total number of individual A-share accounts to 394 million as of November 30, 2025 [1] Institutional Trading - In today's trading, 16 stocks were net bought by institutions, with four stocks seeing net purchases exceeding 100 million yuan [3] - Aerospace Development topped the list with a net purchase of 167 million yuan, followed by Shunhao Co. with 150 million yuan [4] Stock Performance - Notable stocks with significant institutional net buying include: - Aerospace Development: 16.35 yuan, up 10.03%, net buying of 167.38 million yuan [4] - Shunhao Co.: 9.71 yuan, up 9.97%, net buying of 150.48 million yuan [4] - Saiwei Electronics: 58.43 yuan, up 15.27%, net buying of 113.18 million yuan [4] - Guanghe Dao: 34.40 yuan, up 6.24%, net buying of 104.16 million yuan [4] Corporate Announcements - Aikang Co. plans to acquire 100% of Dongguan Silicon Xiang for 2.2 billion yuan, with the transaction expected to constitute a major asset restructuring [6] - Ningde Times has repurchased 15.9908 million A-shares for a total of 4.386 billion yuan as of November 30 [6] - Xi'an Yicai plans to invest approximately 12.5 billion yuan in a silicon material base project in Wuhan [6] Future Developments - Jiangbolong intends to raise no more than 3.7 billion yuan for high-end memory research and development in the AI field [8] - Zhongding Co. plans to issue convertible bonds to raise no more than 2.5 billion yuan for projects related to intelligent robots [7]

Market Overview - On December 2, A-shares saw a collective decline across the three major indices, with total market turnover at 1.61 trillion yuan, a decrease of 282.2 billion yuan from the previous trading day [1] - Market focus shifted to the Fujian sector, with pharmaceutical commerce and SPD concepts rising, while CRO and lithium mining concepts fell [1] Stock Performance - A total of 47 stocks hit the daily limit up, with 16 stocks achieving consecutive limit ups, and 19 stocks failed to close at the limit, resulting in a limit-up rate of 71% (excluding ST and delisted stocks) [3] - Notable stocks included: - Aerospace Development: 10.03% increase, 13 days with 9 limit ups [4] - Rongji Software: 9.93% increase, 12 days with 7 limit ups [4] - Jinfu Technology: 10.01% increase, 7 consecutive limit ups due to acquisition plans [5] Top Gainers and Losers - Top gainers included: - Aerospace Development: 10.03% increase, turnover of 57.27 billion yuan, with institutional net buying of 1.67 billion yuan [18] - Pingtan Development: 10.03% increase, turnover of 37.99 billion yuan, with institutional net buying of 3.75 billion yuan [19] - Saiwei Electronics: 15.27% increase, turnover of 99.74 billion yuan, with institutional net buying of 1.13 billion yuan [18] - Top losers included: - China Merchants Energy: 9.94% decrease, turnover of 21.58 billion yuan, with institutional net selling of 999.9 million yuan [10] - COSCO Shipping Energy: 8.46% decrease, turnover of 13.94 billion yuan, with institutional net selling of 561.88 million yuan [10] Sector Insights - Aerospace Development is benefiting from the establishment of a dedicated regulatory body for commercial aerospace, which is expected to drive high-quality development in the sector, with a projected market size of 2.5 trillion yuan by 2025 [11] - Pingtan Development is poised to benefit from measures aimed at enhancing computing power infrastructure in Fujian, including the construction of urban computing networks and upgrades to submarine cables [13] - Shipping stocks like China Merchants Energy and COSCO Shipping Energy are facing challenges due to OPEC+ decisions to maintain stable oil production, which may impact oil transportation demand [16]

12月2日，上证指数下跌0.42%，深证成指下跌0.68%，创业板指下跌0.69%。盘后龙虎榜数据显示，共 有45只个股因当日异动登上龙虎榜，资金净流入最多的是航天发展（000547.SZ），达4.67亿元。 据21投资通智能监测，27只个股龙虎榜出现了机构的身影，北向资金参与龙虎榜中的个股共涉及19只。 4.67亿资金抢筹航天发展，3.35亿资金出逃实达集团 45只上榜的龙虎榜个股中，23只个股被净买入，22只个股被净卖出。其中，资金净买入最多的是航天发 展，达4.67亿元，占总成交金额的8.15%。航天发展当日收盘上涨10.03%，换手率为22.54%。 | 名称 | 涨跌幅 | 戊席榜净买 | 净买额占 | 换主率 | 解读 | | --- | --- | --- | --- | --- | --- | | | | 额(万元 | 总成交比 | | | | 航天发展 | 10.03% | 4669997 | 8.15% | 22.54% | 2家机构买入,成功 率44.54% | | 平潭友展 | 10.03% | 37469 | 9.86% | 16.3% | 买一主买,成功率4 3.34% | | 塞 ...

共36只个股出现了机构的身影。 当天机构净卖出前三的股票分别是招商轮船、梦天家居、世联行，净流出金额分别是9999万元、9286万 元、6034万元。 | | 吃原管 12.02 | | | --- | --- | --- | | 证券简称 | 目涨跌幅 | 机构净买入(万元) | | 航天发展 | 10.03% | 16737.82 | | 顺灏股份 | 9.97% | 15048.28 | | 国风新材 | 10.01% | 11864.08 | | 塞微电子 | 15.27% | 11317.67 | | 广和通 | 6.24% | 10415.62 | | 恒锋信息 | 12.12% | 8739.66 | | 雷科防务 | 9.96% | 4826.33 | | 特发信息 | 3.88% | 4176.01 | | 菲菱科思 | 20.00% | 2414.25 | | 道明光学 | 10.01% | 2305.42 | | 冰山冷热 | 10.04% | 2000.16 | | 威领股份 | -3.67% | 1765.75 | | 海王生物 | 9.89% | 1646.97 | | 佛塑科技 ...

Core Viewpoint - The stock of China Merchants Energy Shipping Company (招商轮船) experienced a significant decline of 9.94% in a single trading day, with notable net selling from institutional investors and the Shanghai-Hong Kong Stock Connect [2][3]. Trading Performance - The stock had a turnover rate of 2.99% and a total trading volume of 2.158 billion yuan, with a price fluctuation of 11.16% throughout the day [2]. - Institutional investors net sold approximately 99.99 million yuan, while the Shanghai-Hong Kong Stock Connect recorded a net sell of 157 million yuan [2]. Institutional Activity - The top five trading departments accounted for a total transaction volume of 734 million yuan, with buying transactions amounting to 211 million yuan and selling transactions totaling 522 million yuan, resulting in a net sell of 311 million yuan [2]. - Among the trading departments, three institutional special seats were involved, with a total buying amount of 36.14 million yuan and selling amount of 136 million yuan, leading to a net sell of 99.99 million yuan [2]. Fund Flow - The stock saw a net outflow of 88.79 million yuan in principal funds, with a significant outflow of 108 million yuan from large orders, while smaller orders saw a net inflow of 19.41 million yuan [2]. - Over the past five days, the net outflow of principal funds reached 118 million yuan [2]. Margin Trading Data - As of December 1, the margin trading balance for the stock was 1.292 billion yuan, with a financing balance of 1.286 billion yuan and a securities lending balance of 6.2993 million yuan [3]. - The financing balance decreased by 146 million yuan over the past five days, representing a decline of 10.20%, while the securities lending balance increased by 48,700 yuan, a rise of 0.78% [3]. Financial Performance - According to the third-quarter report released on October 30, the company achieved a total operating revenue of 19.31 billion yuan, reflecting a year-on-year growth of 0.07%, while the net profit was 3.30 billion yuan, showing a year-on-year decline of 2.06% [3].