智通财经APP获悉，国信证券发布研报称，维持航空油运增持评级。航空超级周期或将开启，客座率创 新高而票价处低位，票价市场化且供给低增，需求增长将驱动盈利上行。看好2026年需求增长驱动票价 盈利上行，建议逆向布局超级周期。油运运价维持高位，俄乌和谈影响或有限，看好未来景气超预期上 升。机场免税方面，期待内外资龙头竞争，助力免税销售额增长。 机场免税：上海机场新一轮免税合同模式调整，期待内外资龙头竞争驱动销售增长 国泰海通主要观点如下： 根据中国招标投标公共服务平台，近日上海机场公示新一轮免税中标：浦东T1+S1 由杜福睿中标(月固 定费用3141元/平米，提成比例8%-24%);浦东T2+S2 由中国中免中标(3090元，8%-24%)，虹桥标段由中 国中免中标(2827 元，8%-22%)。1)不同以往"保底销售提成与实际销售提成两者取高"，本次改为"固定 费用+实际销售提成"。该行估算固定费用与2023 年协议保底销售提成较为接近，提成比例区间有所下 调。按照提成比例中值16%静态测算，新旧模式机场免税收入基本持平;若实际综合提成比例高于中 值，新合同将提升机场免税收入。2)免税商由之前日上独家变更为国内 ...

证券日报网讯 12月12日，招商南油在互动平台回答投资者提问时表示，公司的市值管理，公司定位为 一项融合了"价值创造、价值传递与价值实现"的长期性工作。第一，筑牢价值根基。一切市值的源头在 于卓越的经营，公司通过优化结构、降本增效，全力夯实公司的盈利基础与成长确定性。第二，畅通价 值传导。坚持公开、透明的原则，通过多元渠道与市场保持密切对话，精准传达公司的战略优势与发展 前景，有效管理市场预期。第三，强化价值维护。这方面，公司已有两项进展：一是建章立制，制定了 《招商南油市值管理制度》，使工作有章可循；二是采取具体行动，目前2.5亿到4亿元的回购计划正在 执行中，这是公司用真金白银传递信心、稳定市场的有力举措。下一步，公司将持续完善这套组合拳， 确保公司内在价值与市场价值协同共进。 （文章来源：证券日报） ...

证券日报网讯 12月11日，招商南油在互动平台回答投资者提问时表示，公司于2019年完成重新上市， 该过程严格遵循相关法律法规及监管机构的审核要求。目前，公司严格按照规定履行信息披露义务，不 存在应披露而未披露的重大信息。公司股价受多重因素综合影响，敬请投资者理性看待市场波动。公司 管理层始终致力于提升经营业绩与公司内在价值，以期更好地回报广大投资者。 （文章来源：证券日报） ...

证券日报网讯12月4日，招商南油（601975）在互动平台回答投资者提问时表示，股价表现受到宏观经 济环境、行业周期、市场情绪等多方面因素的共同影响，存在一定不确定性。公司始终关注市场动态， 也将持续专注做好企业经营，努力提升内在价值。 ...

证券之星消息，12月1日航运港口板块较上一交易日上涨2.5%，招商轮船领涨。当日上证指数报收于 3914.01，上涨0.65%。深证成指报收于13146.72，上涨1.25%。航运港口板块个股涨跌见下表： 从资金流向上来看，当日航运港口板块主力资金净流入1.75亿元，游资资金净流出1.89亿元，散户资金净 流入1373.6万元。航运港口板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 601872 | 招商轮船 | 9.66 | 9.65% | 227.79万 | | 21.61亿 | | 600026 | 中远海能 | 12.89 | 6.71% | 104.76万 | | 13.28亿 | | 600428 | 中远海特 | 7.30 | 5.19% | 53.19万 | | 3.82亿 | | 601975 | 招商南油 | 3.23 | 3.53% | 158.38万 | | 5.06亿 | | 616109 | 中远海控 | 15.12 | 3. ...

格隆汇12月1日丨招商南油(601975.SH)公布，截至2025年11月底，公司已累计回购股份1.2亿股，占公司 总股本的比例为2.49%，购买的最高价为3.38元/股、最低价为3.17元/股，已支付的总金额为3.94亿元 （不含交易费用）。 ...

证券代码：601975 证券简称：招商南油 公告编号：2025-043 招商局南京油运股份有限公司 关于股份回购进展公告 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 | 2025/8/25 | | | | | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 9 年 9 月 8 日 | 9 | 月 | 日~2026 | | 预计回购金额 | 25,000万元~40,000万元 | | | | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 | | | | | | □用于转换公司可转债 | | | | | | □为维护公司价值及股东权益 | | | | | 累计已回购股数 | 119,554,370股 | | | | | 累计已回购股数占总股本比例 | 2.49% | | | | | 累计已回购金额 | 394,026,542.93元 | | | | | 实际回购价格区间 | 3.17元/股~3.38元/股 | | | ...

Core Viewpoint - The A-share market has seen a strong performance in the port and shipping sector, with notable gains in stocks such as China Merchants Energy Shipping and COSCO Shipping Energy, driven by a significant increase in the Baltic Dry Index [1] Group 1: Market Performance - China Merchants Energy Shipping reached its historical high, hitting the daily limit up [1] - COSCO Shipping Energy rose over 5%, while COSCO Shipping Specialized Carriers increased by 4% [1] - China Merchants South Oil saw an increase of over 3% [1] Group 2: Baltic Dry Index - The Baltic Dry Index rose by 80 points or 3.2% to 2560 points, marking the highest level since December 2023 [1] - This increase represents the 12th consecutive day of growth, with a weekly increase of 12.5% [1] Group 3: Individual Stock Performance - China Merchants Energy Shipping (601872) had a daily increase of 8.74% and a total market capitalization of 77.4 billion [2] - COSCO Shipping Energy (600026) increased by 5.88% with a market cap of 69.9 billion [2] - COSCO Shipping Specialized Carriers (600428) rose by 4.03%, valued at 19.8 billion [2] - China Merchants South Oil (601975) saw a 3.21% increase, with a market cap of 15.5 billion [2]

Core Insights - The shipping and port sector experienced a slight decline of 0.18% on November 25, with China Merchants Energy leading the losses [1] - The Shanghai Composite Index closed at 3870.02, up 0.87%, while the Shenzhen Component Index closed at 12777.31, up 1.53% [1] Shipping and Port Sector Performance - Xiamen Port Authority saw the highest increase, closing at 10.59 with a rise of 4.96% and a trading volume of 330,600 shares, amounting to 345 million yuan [1] - Haitong Development and Strait Shares also reported gains of 2.03% and 1.62%, respectively, with closing prices of 11.05 and 12.54 [1] - Conversely, several companies in the sector, such as Zhi Shang Tire and China Merchants Energy, reported declines of 1.99% and 0.71%, with closing prices of 8.85 and 12.59 [2] Capital Flow Analysis - The shipping and port sector saw a net inflow of 145 million yuan from institutional investors, while retail investors experienced a net outflow of 358 million yuan [2] - Notable net inflows from institutional investors included Rizhao Port with 39.62 million yuan and China Merchants South Oil with 34.46 million yuan [3] - In contrast, retail investors showed significant outflows from companies like Rizhao Port and Ningbo Port, with outflows of 38.41 million yuan and 26.07 million yuan, respectively [3]

Core Insights - The National Petroleum and Natural Gas Index (399439) has shown a slight increase of 0.03% as of November 24, 2025, with notable gains in constituent stocks such as Bomeike (603727) up 5.58% and China Merchants Energy (601872) up 4.68% [1] Group 1: Market Performance - The oil and gas ETF (159697) increased by 0.26%, with the latest price at 1.14 yuan [1] - The index reflects the price changes of publicly listed companies in the oil and gas sector on the Shanghai and Shenzhen stock exchanges [1] Group 2: Industry Outlook - According to Huatai Securities, the demand from oil-producing countries remains focused on value rather than volume, suggesting that OPEC+ may sacrifice prices in the short term to gain market share [1] - The Brent crude oil price is expected to be supported around $60 per barrel due to pressures for rebalancing and the impact of North American shale oil costs, particularly before the acceleration of global energy transition and increased supply from South America [1] - High-dividend energy leading companies with the ability to increase production and reduce costs, as well as growth in natural gas business, may present investment opportunities [1] Group 3: Index Composition - As of October 31, 2025, the top ten weighted stocks in the National Petroleum and Natural Gas Index include China National Petroleum (601857), China Petroleum & Chemical (600028), and China National Offshore Oil (600938), collectively accounting for 65.09% of the index [2]