Performance Forecast - The company expects a net profit attributable to shareholders of between 55,000 million and 59,000 million yuan for the first half of 2025, representing a decrease of 63,034 million to 67,034 million yuan compared to the same period last year, which is a year-on-year decline of 51.66% to 54.93% [1][2] - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be between 54,600 million and 58,600 million yuan, a decrease of 44,184 million to 48,184 million yuan compared to the previous year, reflecting a decline of 42.99% to 46.88% [2] Previous Year Performance - In the same period last year, the total profit was 140,427 million yuan, with a net profit attributable to shareholders of 122,034 million yuan and a net profit after deducting non-recurring gains and losses of 102,784 million yuan [1] - The earnings per share for the previous year were 0.2532 yuan [1] Reasons for Performance Decline - The international refined oil transportation market has been affected by multiple factors, leading to a significant drop in freight rates year-on-year. For instance, the average Time Charter Equivalent (TCE) for the MR TC7 route (Singapore to East Coast Australia) was approximately 37,717 USD/day in the first half of 2024, while it is expected to drop to about 19,101 USD/day in the first half of 2025, marking a decline of 49.36% [1]

[CMB Nanjing Tanker Co., Ltd. 2025 Semi-Annual Performance Pre-announcement](index=1&type=section&id=%E6%8B%9B%E5%95%86%E5%B1%80%E5%8D%97%E4%BA%AC%E6%B2%B9%E8%BF%90%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B82025%E5%B9%B4%E5%8D%8A%E5%B9%B4%E5%BA%A6%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%87%8F%E5%85%AC%E5%91%8A) [Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) The company forecasts a significant year-on-year decline of 51.66% to 54.93% in net profit attributable to shareholders for H1 2025, expecting RMB 550-590 million, with unaudited results 2025 Semi-Annual Performance Forecast (January 1 - June 30, 2025) | Indicator | Estimated Amount (RMB) | Year-on-Year Change | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | RMB 550 million - RMB 590 million | ↓ 51.66% - 54.93% | | **Net Profit Attributable to Shareholders After Non-Recurring Items** | RMB 546 million - RMB 586 million | ↓ 42.99% - 46.88% | - The performance forecast data is unaudited by an accounting firm[5](index=5&type=chunk) [Operating Performance and Financial Status in the Same Period Last Year](index=2&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E7%BB%8F%E8%90%A5%E4%B8%9A%E7%BB%A9%E5%92%8C%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5) The company provided 2024 H1 key financial data for comparison, including net profit attributable to shareholders of RMB 1.22034 billion and EPS of RMB 0.2532 2024 Semi-Annual Performance (Same Period Last Year) | Indicator | Amount (RMB) | | :--- | :--- | | **Total Profit** | RMB 1.40427 billion | | **Net Profit Attributable to Shareholders of Listed Company** | RMB 1.22034 billion | | **Net Profit Attributable to Shareholders After Non-Recurring Items** | RMB 1.02784 billion | | **Earnings Per Share** | RMB 0.2532 | [Primary Reasons for Current Period Performance Decline](index=2&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%87%8F%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) Performance decline is primarily due to a 49.36% drop in international refined oil shipping freight rates and a RMB 210 million reduction in asset disposal gains - International refined oil shipping market freight rates declined from high levels year-on-year, with the average TCE for the MR TC7 route in H1 2025 decreasing by **49.36%** from approximately **$37,717/day** to approximately **$19,101/day**[7](index=7&type=chunk) - Asset disposal gains decreased by **RMB 210 million** year-on-year, as three old MR refined oil tankers were disposed of in the prior period compared to only one old chemical tanker in the current period[7](index=7&type=chunk) [Risk Warning](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) Company management believes there are no significant uncertainties affecting the accuracy of this performance forecast - The company anticipates no significant uncertainties affecting the accuracy of this performance forecast[8](index=8&type=chunk) [Other Explanatory Notes](index=2&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E8%AF%B4%E6%98%8E%E4%BA%8B%E9%A1%B9) The disclosed data is preliminary, with final accurate financial figures subject to the officially released 2025 semi-annual report - This forecast data is preliminary, and the specific accurate financial data will be subject to the company's officially disclosed 2025 semi-annual report[9](index=9&type=chunk)

招商南油（601975）公告，预计2025年半年度实现归属于上市公司股东的净利润为5.5亿元到5.9亿元， 与上年同期相比，将减少6.3亿元到6.7亿元，同比减少51.66%到54.93%。预计归属于上市公司股东的扣 除非经常性损益的净利润为5.46亿元到5.86亿元，与上年同期相比，将减少4.42亿元到4.82亿元，同比减 少42.99%到46.88%。本次业绩预告未经会计师事务所审计。 ...

重要内容提示： 本次会议是否有否决议案：无 证券代码：601975 证券简称：招商南油 公告编号：临 2025-017 招商局南京油运股份有限公司 2025年第一次临时股东大会决议公告 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。 一、 会议召开和出席情况 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 会议由公司董事会召集，采用现场会议和网络投票相结合的方式召开。董事 李增忠先生主持会议，符合《公司法》及《公司章程》的有关规定。 (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 (一)股东大会召开的时间：2025 年 07 月 03 日 (二)股东大会召开的地点：南京市中山北路 324 号油运大厦 16 楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 1,864 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,618,172,104 | | 3、出席 ...

致：招商局南京油运股份有限公司 根据《中华人民共和国证券法》、《中华人民共和国公司法》以及中国证券监 督管理委员会的相关规定，本所接受贵公司的聘请，指派张建新、张伶轶律师出 席招商局南京油运股份有限公司（以下简称"公司"）2025 年第一次临时股东大 会，并就公司本次股东大会出具法律意见书。为出具本法律意见书，本所律师出 席了公司 2025 年第一次临时股东大会，并审查了公司提供的有关文件。 本所律师按照律师行业公认的业务标准、道德规范和勤勉尽责精神，对公司 2025 年第一次临时股东大会的召集及召开的相关法律问题提供如下意见： 一、本次股东大会的召集、召开程序 1 、 公 司 于 2025 年 6 月 17 日 在 上 海 证 券 交 易 所 网 站 (http://www.sse.com.cn/)、于 2025 年 6 月 17 日在中国证券报、上海证券报和 证券时报上发布了《招商局南京油运股份有限公司关于召开 2025 年第一次临时 股东大会的通知》，将公司 2025 年第一次临时股东大会的召开方式、会议时间、 地点、内容和程序予以公告、通知。 上海海复律师事务所 关于招商局南京油运股份有限公司 202 ...

Investment Rating - The report maintains an "Overweight" rating for the transportation industry, indicating expectations for the industry to outperform the overall market [11]. Core Insights - The shipping sector is expected to see performance improvements driven by a shift in oil production policies and a tightening supply of older vessels, with demand for small container ships increasing due to regional industrial shifts [1][2]. - The shipbuilding market is anticipated to recover as demand is expected to rebound following the easing of trade tensions, with new orders and ship prices likely to rise [2]. - The aviation sector is experiencing steady growth in passenger traffic, with a narrowing decline in ticket prices, suggesting a recovery in airline revenues [2]. - The express delivery industry is facing a decline in growth rates, with increased competition in the mid-to-high-end e-commerce segment, but companies like SF Express are expected to maintain strong growth [2][3]. Shipping Sector Summary - The demand for oil tankers and bulk carriers is improving, with Q2 performance estimates showing significant increases for companies like COSCO Shipping Energy and China Merchants Energy [2]. - The small container ship market is experiencing rising charter rates and second-hand prices, with a tight supply situation expected to persist until at least 2030 [2]. Shipbuilding Sector Summary - The easing of the 301 tariffs is expected to release pent-up demand in the shipbuilding market, with new orders likely to increase as trade relations improve [2]. - The report highlights that China's shipbuilding industry is recovering from previous pressures, with new orders returning to a leading position [2]. Aviation Sector Summary - The aviation market is entering a peak season with stable growth in passenger numbers, and airlines are expected to benefit from improved cost structures due to lower fuel prices [2]. - Recommendations include major airlines such as China Southern Airlines and China Eastern Airlines, which are projected to return to profitability [3]. Express Delivery Sector Summary - The express delivery industry is seeing a decrease in growth rates, with competition intensifying in the e-commerce segment, particularly for mid-to-high-end services [2]. - Despite the overall slowdown, SF Express is expected to continue its high growth trajectory, driven by operational expansions and new service offerings [2]. Road and Rail Sector Summary - The report anticipates stable growth in highway traffic and toll revenues, with recommendations for companies like Zhejiang Expressway and Ninghu Expressway [2]. - Rail passenger traffic is also expected to grow, albeit at a slower pace, with recommendations for high-speed rail companies [2].

Market Overview - The Shanghai Composite Index rose by 1.04% on June 25, with 28 out of 31 sectors experiencing gains. The top-performing sectors were non-bank financials and defense, with increases of 4.46% and 3.36% respectively. Conversely, coal, oil and petrochemicals, and transportation sectors saw declines of 1.00%, 0.57%, and 0.21% respectively [1]. Fund Flow Analysis - The net inflow of capital in the two markets was 7.138 billion yuan, with 10 sectors experiencing net inflows. The non-bank financial sector led with a net inflow of 12.313 billion yuan, followed by the computer sector with a net inflow of 6.793 billion yuan and a daily increase of 2.99% [1]. - A total of 21 sectors experienced net outflows, with the pharmaceutical and biological sector seeing the largest outflow of 2.326 billion yuan, followed by the power equipment sector with an outflow of 2.287 billion yuan. Other sectors with significant outflows included basic chemicals, communications, and non-ferrous metals [1]. Transportation Sector Performance - The transportation sector declined by 0.21% with a net outflow of 808 million yuan. Out of 125 stocks in this sector, 79 rose while 38 fell. There were 55 stocks with net inflows, with China National Airlines leading at 28.609 million yuan, followed by China Merchants Energy and Xiamen International Trade with inflows of 24.990 million yuan and 24.703 million yuan respectively [2]. - The top stocks in terms of capital inflow included: - China National Airlines: +1.54%, 0.28% turnover, 28.609 million yuan inflow - China Merchants Energy: 0.00%, 1.06% turnover, 24.990 million yuan inflow - Xiamen International Trade: +1.13%, 0.96% turnover, 24.703 million yuan inflow [2]. Transportation Sector Outflow - The transportation sector saw significant outflows, with the following stocks leading in capital outflow: - COSCO Shipping Holdings: -0.66%, 1.32% turnover, -271.045 million yuan outflow - China Merchants South Oil: -3.93%, 9.54% turnover, -102.874 million yuan outflow - Jinjiang International: -1.26%, 14.65% turnover, -91.159 million yuan outflow [4].

Group 1 - The company is holding a shareholder meeting on July 3, 2025, to discuss various agenda items including the revision of the company's articles of association and the election of a non-independent director [1][2]. - The first agenda item involves the revision of the company's articles of association and related documents, in compliance with the updated laws and regulations [1][2]. - The second agenda item is the election of Mr. Liu Zhao as a non-independent director of the company's eleventh board of directors, following a recommendation from the board [2][4]. Group 2 - The company has provided a brief biography of Mr. Liu Zhao, highlighting his educational background and extensive experience in financial management within the shipping industry [2][4].

招商局南京油运股份有限公司 2025 年第一次临时股东大会会议资料 2025 年 7 月 3 日 招商局南京油运股份有限公司 2025 年第一次临时股东大会议程 时间：2025 年 7 月 3 日上午 9:30 地点：南京市中山北路 324 号油运大厦 16 楼会议室 主持人：丁磊董事长或其授权的主持人 会议议程 一、审议议题 1.关于修订《公司章程》及其附件的议案 2.关于选举刘钊先生为公司第十一届董事会非独立董事的议案 二、股东发言及股东提问。 三、与会股东和股东代表对议案投票表决。 四、大会休会（统计现场投票表决结果）。 五、宣布现场表决结果。 议案一：关于修订《公司章程》及其附件的议案 各位股东： 根据《中华人民共和国公司法（2023 年修订）》《上市公司监管指引 第 3 号——上市公司现金分红（2025 年修订）》《上市公司章程指引（2025 年修订）》《上海证券交易所股票上市规则（2025 年 4 月修订）》《上海证 券交易所上市公司自律监管指引第 1 号——规范运作（2025 年 5 月修 订）》等法律、法规、规范性文件的规定，公司对《招商局南京油运股 份有限公司章程》及其附件《招商局南京油运股 ...

融资融券数据显示，该股最新（6月23日）两融余额为8.99亿元，其中，融资余额为8.96亿元，融券余额 为307.47万元。近5日融资余额合计增加3.11亿元，增幅为53.28%。融券余额合计增加69.28万元，增幅 29.09%。 4月26日公司发布的一季报数据显示，一季度公司共实现营业收入13.74亿元，同比下降25.29%，实现净 利润2.85亿元，同比下降57.59%。（数据宝） 招商南油6月24日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 国泰海通证券股份有限公司南京太平南路证券营业部 | 6127.06 | | | 买二 | 东方财富证券股份有限公司拉萨团结路第一证券营业部 | 2211.85 | | | 买三 | 东方财富证券股份有限公司拉萨东环路第二证券营业部 | 1979.45 | | | 买四 | 东方财富证券股份有限公司拉萨金融城南环路证券营业 | 1850.85 | | | | 部 | | | | 买五 | 国元证券股份有限公司宁波分公司 | 1 ...