证券代码：601919 证券简称：中远海控 公告编号：2025-031 中远海运控股股份有限公司 关于以集中竞价交易方式回购 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。 一、回购股份的基本情况 2025 年 4 月 8 日，中远海运控股股份有限公司（以下简称"中远海控"、"公 司"）召开第七届董事会第十六次会议，审议通过《关于中远海控回购公司股份的 议案》，具体内容详见公司于 2024 年 4 月 9 日披露的《中远海控关于以集中竞价 交易方式回购 A 股股份方案公告暨回购报告书》（公告编号：2025-020）。 二、回购股份的进展情况 截至 2025 年 4 月 30 日，公司依据本轮回购方案通过集中竞价交易方式已累 计回购 A 股股份 47,244,350 股，占公司截至 2025 年 4 月 30 日总股本的比例为 0.30%，购买的最高价为 14.59 元/股、最低价为 13.06 元/股，已支付的总金额为 人民币 666,782,630 元（不含交易费用）。 本次回购符合相关法律法规的规定及 ...

东大会及 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： 一、 召开会议的基本情况 证券代码：601919 证券简称：中远海控 公告编号：2025-030 中远海运控股股份有限公司 关于召开2024年年度股东大会暨 2025 年第一次 A 股类别股 至2025 年 5 月 28 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 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (一)股东大会类型和届次 2024年年度股东大会暨 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 (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 5 月 28 日 14 点 30 分 ...

公司名稱： 中遠海運控股股份有限公司 FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 呈交日期： 2025年5月6日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 01919 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事 ...

证券研究报告 交通运输 | 航运港口 非金融|公司点评报告 hyzqdatemark 2025 年 05 月 06 日 证券分析师 孙延 SAC：S1350524050003 sunyan01@huayuanstock.com 曾智星 SAC：S1350524120008 zengzhixing@huayuanstock.com 王惠武 SAC：S1350524060001 wanghuiwu@huayuanstock.com 张付哲 zhangfuzhe@huayuanstock.com 市场表现： | 基本数据 | 月 | | 04 | 2025 | 年 | | | 日 | | | | 30 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 收盘价（元） | | | | | | | 14.36 | | | | | | | | 一 年 内 最 | | 最 | | | | 17.58/11.47 | | | | 高 | 低 | | / | | （元） | | | | | | | ...

Market Overview - The FTSE China A50 index components showed mixed performance with insurance and liquor sectors rising, while banking and semiconductor sectors had varied results, and the power sector weakened [1][4]. Insurance Sector - China Pacific Insurance, Ping An Insurance, and China Life Insurance had market capitalizations of CNY 293.04 billion, CNY 931.09 billion, and CNY 319.74 billion respectively, with trading volumes of CNY 557 million, CNY 1.019 billion, and CNY 389 million [3]. - China Pacific Insurance rose by 2.04%, Ping An by 0.83%, and China Life by 2.41% [3]. Liquor Industry - Kweichow Moutai, Wuliangye, and Shanxi Xinghuacun Fenjiu had market capitalizations of CNY 1,950.62 billion, CNY 249.58 billion, and CNY 502.40 billion respectively, with trading volumes of CNY 1.656 billion, CNY 506 million, and CNY 1.114 billion [3]. - Kweichow Moutai increased by 0.37%, Wuliangye by 0.24%, and Shanxi Xinghuacun by 0.57% [3]. Semiconductor Sector - Northern Huachuang, Cambricon Technologies, and Haiguang Information had market capitalizations of CNY 243.10 billion, CNY 292.64 billion, and CNY 346.81 billion respectively, with trading volumes of CNY 979 million, CNY 2.570 billion, and CNY 1.077 billion [3]. - Northern Huachuang rose by 0.92%, while Cambricon Technologies fell by 0.37% and Haiguang Information increased by 0.41% [3]. Automotive Sector - BYD, Great Wall Motors, and Beijing-Shanghai High-Speed Railway had market capitalizations of CNY 196.10 billion, CNY 284.33 billion, and CNY 1,095.37 billion respectively, with trading volumes of CNY 3.165 billion, CNY 192 million, and CNY 285 million [3]. - BYD increased by 2.08%, Great Wall Motors by 1.46%, while Beijing-Shanghai High-Speed Railway decreased by 0.34% [3]. Power Sector - China Yangtze Power, China Nuclear Power, and China Power had market capitalizations of CNY 713.74 billion, CNY 191.08 billion, and CNY 332.60 billion respectively, with trading volumes of CNY 1.589 billion, CNY 405 million, and CNY 4.380 billion [4]. - China Nuclear Power rose by 2.43%, while China Yangtze Power fell by 1.12% [4]. Other Sectors - Various sectors including food and beverage, electronics, and pharmaceuticals showed diverse performances with notable market capitalizations and trading volumes [4][5].

Investment Rating - The industry investment rating is optimistic [1] Core Views - The report highlights a continuous recovery in domestic demand, with a focus on increased dividends [1] - The shipping sector shows strong performance in container shipping, while oil and dry bulk shipping face pressure [3][4] - The highway sector experienced a rebound in traffic in Q1 2025, while port container business remains robust [4] - The railway passenger transport is stable, but freight transport is under pressure [4] - The airline industry sees steady growth in passenger traffic, although ticket prices are under slight pressure [6] - The express delivery sector exceeded expectations in 2024, maintaining double-digit growth into Q1 2025, despite intense price competition [7] - Cross-border logistics face challenges due to coal market pressures and tariff policies affecting air freight demand [8] Summary by Sections Shipping - Container shipping shows impressive performance, with significant profit growth and stable dividends [15] - Oil shipping and dry bulk shipping face challenges, with fluctuating rates and cautious dividend policies [18][21] - The report notes a strong increase in container shipping rates due to geopolitical tensions and trade dynamics [14][15] Highways - In 2024, highway traffic saw a slight decline, but Q1 2025 traffic improved, leading to increased profits for highway companies [35][38] - The report indicates that highway companies are maintaining high dividend payouts despite previous revenue declines [41][43] Ports - Port container throughput growth outpaced other sectors, benefiting from a favorable international trade environment [44][46] - The report emphasizes the strong performance of container port companies, with significant profit increases [47][48] Railways - Railway passenger volumes remained stable, while freight volumes faced challenges, impacting overall profitability [49] Airlines - The airline sector is experiencing steady passenger growth, but ticket prices are slightly under pressure, affecting profitability [6] Express Delivery - The express delivery industry saw a significant increase in volume in 2024, continuing strong growth into Q1 2025, although competition remains fierce [7] Cross-Border Logistics - Cross-border logistics companies are facing challenges due to market pressures and tariff impacts on air freight demand [8]

Investment Rating - The report maintains a positive outlook on the transportation industry, indicating a "Look Forward" rating for 2024 and 2025Q1 [3][4]. Core Insights - The transportation sector showed resilience in Q1 2025, with positive growth in net profit excluding non-recurring items for key companies, and a dividend yield exceeding 3% for several firms [4][5]. - The report highlights expected improvements in shipping and logistics performance in the Asian region for Q2 2025, driven by demand recovery and operational efficiencies [4]. - Key companies such as COSCO Shipping Holdings and SF Express are recommended for investment due to their strong performance and growth potential [4][5]. Summary by Sections Key Companies' Net Profit and Cash Flow - In Q1 2025, companies like COSCO Shipping Holdings, Zhonggu Logistics, and SF Express reported positive net profit growth, with several firms maintaining a dividend yield above 3% [4][5]. - The report provides detailed financial performance metrics for various companies, indicating a mixed performance across the sector [6][7]. Performance Metrics - The report includes tables detailing the net profit and operating cash flow for key companies in the transportation sector, showing significant year-on-year changes [6][7]. - For instance, COSCO Shipping Holdings reported a net profit of 116.95 billion yuan in Q1 2025, reflecting a 73.12% increase compared to the previous year [6]. Segment Analysis - The report analyzes different segments within the transportation industry, including logistics, shipping, and aviation, highlighting the performance of key players in each segment [10][20]. - The logistics segment is expected to benefit from improved demand and operational efficiencies, while the shipping segment is projected to see a recovery in freight rates [4][10]. Investment Recommendations - The report recommends several companies for investment based on their strong financial performance and growth prospects, including COSCO Shipping Holdings, SF Express, and others [33]. - Specific investment ratings are provided for these companies, indicating a "Buy" or "Outperform" status based on their expected performance relative to the market [33].

公司名稱： 中遠海運控股股份有限公司 呈交日期： 2025年4月30日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | H | | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | | 01919 | 說明 | | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份 ...

翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中遠海運控股股份有限公司 FF305 呈交日期： 2025年5月2日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 01919 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事 ...

Company Developments - Bawang Chaji opened its first store in the United States in Los Angeles, with former McDonald's CMO Eugene Lee joining as the Vice President and Chief Marketing Officer for the Asia-Pacific region [3] - Stone Technology reported a revenue of 3.428 billion yuan in Q1 2025, a year-on-year increase of 86.22%, driven by an expanded product matrix and optimized sales structure [4] - Midea Group's overseas OBM business grew by 40% year-on-year, with e-commerce sales increasing by over 50% in Q1 2025 [5] - Didi launched its overseas car rental service in 11 countries and 26 cities to cater to domestic users traveling abroad [6] - Tianlala plans to open over 200 new stores globally by 2025, focusing on Southeast Asia, Europe, North America, and the Middle East [7] - Anker Innovations reported a revenue of 24.71 billion yuan for 2024, a 41.14% increase year-on-year, with Q1 2025 revenue reaching 5.993 billion yuan, up 36.91% [8] - Uber partnered with Momenta to deploy autonomous taxis in Europe by early 2026 [8] - COSCO Shipping established a new company in Saudi Arabia to enhance its operations in the region [8] - Yizhibo plans to expand its consumer content and marketing services overseas, aiming to establish a presence in five countries by the end of the year [8] - JA Solar expects to rapidly increase production capacity after launching a project in Oman [8] - Zeekr Technology Group has entered over 60 international markets, with more than 1,200 global stores [8] - Deep Blue aims for overseas sales to account for 20% of its total sales by 2025 [8] - Cainiao's order volume in the North American market increased by over 30% [11] Macro Policies & Industry Data - The U.S. officially terminated its tax exemption policy for small packages from China, leading to increased logistics costs and delays for e-commerce platforms [12] - The trade volume between China and Arab countries exceeded $400 billion in 2024, marking a tenfold increase since 2004 [12] - In Q1 2025, China's software business exports reached $13.1 billion, a year-on-year increase of 2.4% [13] - The Export-Import Bank of China issued over 300 billion yuan in loans to support foreign trade in Q1 2025 [14] - Mexico is expanding its largest port to strengthen trade ties with China [14] Investment & Financing - In Time Robotics completed nearly 100 million yuan in B3 round financing to accelerate global market expansion [15] - IndustrialNext raised several million dollars in Series A funding to enhance team size and R&D efforts [15] - Aihua New Materials secured several million yuan in A round financing to focus on product development and overseas market expansion [15] - Guopei Chuang (Suzhou) Education Technology completed a million yuan Pre-A round financing to support AI technology development and overseas market expansion [16] - Clickmate, a live-streaming e-commerce platform in South Korea, announced seed round financing, with a monthly transaction volume of 9 billion KRW [17]