证券代码：601975 证券简称：招商南油 公告编号：临 2025-025 招商局南京油运股份有限公司 关于回购股份事项前十大股东和前十大无限售条件股东 持股情况的公告 序 号 股东名称 持股数量（股） 占股份总数 的比例（%） 1 中国长江航运集团有限公司 1,440,017,683 29.99 2 中国工商银行股份有限公司南京下关支行 137,847,870 2.87 3 中国太平洋人寿保险股份有限公司－传统 －普通保险产品 95,180,603 1.98 4 香港中央结算有限公司 64,296,802 1.34 5 张素芬 45,800,000 0.95 6 中国建设银行股份有限公司江苏省分行 42,546,743 0.89 7 中国太平洋财产保险股份有限公司－传统 －普通保险产品－013C－CT001 沪 42,499,913 0.89 一、2025 年 9 月 3 日前十名股东持股信息 | 8 | 中国长城资产管理股份有限公司 | 41,725,762 | 0.87 | | --- | --- | --- | --- | | 9 | 中国人寿保险股份有限公司－传统－普通 | 38,420,000 | ...

Core Viewpoint - The shipping and port sector experienced a slight increase of 0.14% on September 4, with China Merchants South Oil leading the gains, while the overall market indices, Shanghai Composite and Shenzhen Component, saw declines of 1.25% and 2.83% respectively [1][2]. Group 1: Market Performance - The Shanghai Composite Index closed at 3765.88, down 1.25% [1]. - The Shenzhen Component Index closed at 12118.7, down 2.83% [1]. - The shipping and port sector stocks showed mixed performance, with notable gainers including: - China Merchants South Oil (601975) up 3.38% to 3.06 [1]. - Haitong Development (603162) up 2.84% to 9.05 [1]. - China Merchants Shipping (601872) up 2.25% to 6.82 [1]. Group 2: Trading Volume and Capital Flow - The trading volume for China Merchants South Oil reached 3.2613 million shares, with a transaction value of 984 million yuan [1]. - The shipping and port sector saw a net outflow of 97.51 million yuan from institutional investors and 138 million yuan from speculative funds, while retail investors contributed a net inflow of 235 million yuan [2][3]. - The individual stock capital flows indicated that: - China Merchants South Oil had a net inflow of 73.06 million yuan from institutional investors [3]. - China Merchants Shipping experienced a net outflow of 32.94 million yuan from speculative funds [3].

Group 1: Industry Overview - The oil shipping sector is currently undervalued, with companies showing resilience and dividend support, suggesting a focus on left-side opportunities and seasonal demand improvements [1] - Recent shipping price updates indicate a rebound in container shipping rates for the US routes, while European routes have declined. The SCFI index shows a week-on-week change of +17.0% for US routes and -11.2% for European routes [2] - The dry bulk shipping market has seen a strong recent increase in freight rates, with the BDI index up by 7.0% week-on-week, indicating potential demand improvements [2] Group 2: Company Focus - Companies such as COSCO Shipping Energy (中远海能), China Merchants Energy Shipping (招商轮船), and China Merchants Jinling (招商南油) are highlighted as key players to watch due to their potential for growth and dividend yields [1] - High-dividend private enterprises like Seaspan (海丰国际) and Zhonggu Logistics (中谷物流) are recommended for their short-term and long-term value propositions, particularly during the peak season in the second half of the year [1] - The small container ship supply in the Asian region is expected to remain tight, with only a 1-2% annual increase in supply over the next three years, while the proportion of older ships (over 25 years) is at 11.2% [3] Group 3: Market Dynamics - The average capacity of vessels in the Asian region is concentrated in larger global operators, with the top ten companies holding about 70% of the capacity share, indicating a high chartering ratio [3] - The deployment of vessels in Asia is primarily focused on larger ships (3,000 TEU and above), which creates a competitive landscape with companies like Seaspan focusing on smaller vessels for regional routes [3]

Core Viewpoint - The company, China Merchants Energy Transportation Co., Ltd., will hold a joint performance briefing with China Merchants Nanjing Tanker Corporation on September 4, 2025, to discuss the 2025 semi-annual operating results and financial status, enhancing investor understanding of the shipping sector under China Merchants Group [1][2]. Group 1: Meeting Details - The performance briefing is scheduled for September 4, 2025, from 15:00 to 16:00 [2][3]. - The meeting will take place at the Shanghai Stock Exchange Roadshow Center, accessible via the website: http://roadshow.sseinfo.com/ [2][3]. - The format of the meeting will be an online text interaction, allowing for real-time communication with investors [2]. Group 2: Participation Information - Investors can log in to the Shanghai Stock Exchange Roadshow Center on September 4, 2025, to participate and ask questions [3]. - Questions can be submitted via email to ir@cmhk.com from August 28, 2025, until September 3, 2025, at 12:00 [3]. Group 3: Company Representatives - The meeting will feature key personnel including the company's General Manager Wang Yongxin, Independent Director Deng Huangjun, Chief Financial Officer Lou Dongyang, and Secretary of the Board Kong Kang [2].

Core Points - The company is proposing amendments to its governance structure to enhance operational compliance and efficiency [2] - The company plans to invest in the construction of two new 115,000-ton LR2 oil tankers to optimize its fleet capacity and improve operational capabilities [3][4] - A share buyback plan is proposed to enhance investor returns and confidence, with the intention to cancel the repurchased shares [6][8] Group 1: Governance Amendments - The company intends to revise its independent director work system, related party transaction decision-making system, fundraising management measures, and cumulative voting implementation details [2] - These revisions are in accordance with the latest regulations and the company's actual situation [2] Group 2: New Vessel Construction - The total investment for the new vessels is not to exceed 1.09 billion yuan, including tax [3] - The vessels will be built by Dalian Shipbuilding Industry Company and will meet international environmental standards [3] - Each vessel is expected to generate a net profit of approximately 24.91 million yuan per year, with an internal rate of return of 6.90% and a payback period of 13.89 years [3][4] Group 3: Share Buyback Plan - The company plans to repurchase shares using its own funds, with a total amount not less than 250 million yuan and not exceeding 400 million yuan [6][8] - The repurchase price will not exceed 4.32 yuan per share, which is 150% of the average trading price over the previous 30 trading days [8] - The repurchased shares will be canceled to reduce registered capital, and the company seeks authorization from the shareholders to execute this plan [9]

Core Viewpoint - The company has announced a share buyback plan approved by its board of directors, detailing the shareholding status of its top shareholders as of August 22, 2025 [1] Group 1: Share Buyback Announcement - The board of directors of the company convened on August 22, 2025, to approve the share buyback proposal through centralized bidding [1] - The details of the share buyback plan were disclosed in a prior announcement published on August 25, 2025, in various financial newspapers and on the Shanghai Stock Exchange website [1] Group 2: Shareholding Information - The announcement includes the shareholding information of the top ten shareholders as of August 22, 2025, including their names, share quantities, and ownership percentages [2] - The top ten unrestricted shareholders' information is also provided, detailing their share quantities and the proportion of total circulating shares [2]

证券代码：601975 证券简称：招商南油 公告编号：临 2025-023 投资者可于 2025 年 8 月 28 日（星期四）至 9 月 3 日（星期三）12:00 前通过 公司邮箱 irm@cmhk.com 进行提问。公司将在业绩说明会上对投资者普遍关注的问题进 行回答。 招商局南京油运股份有限公司（以下简称"公司"）已于 2025 年 8 月 25 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年 度经营成果、财务状况，也为了增进投资者对招商局集团旗下航运板块的了解，本 公司拟联合招商局集团旗下航运板块另一上市公司招商局能源运输股份有限公司 （601872.SH）（以下简称"招商轮船"）于 2025 年 9 月 4 日 15:00-16:00 举行"招 商轮船、招商南油 2025 年半年度联合业绩说明会"，就投资者关心的问题进行交流。 一、说明会类型 本次业绩说明会以网络文字互动形式召开，公司将针对 2025 年半年度的经营成 果及财务指标的具体情况与投资者进行互动交流，在信息披露允许的范围内就投资 者普遍关注的问题进行回答。 招商局南京油运股份有限公司 关于 ...

序 号 股东名称 持股数量（股） 占股份总数 的比例（%） 1 中国长江航运集团有限公司 1,440,017,683 29.99 2 中国工商银行股份有限公司南京下关支行 137,847,870 2.87 3 中国太平洋人寿保险股份有限公司－传统 －普通保险产品 95,180,603 1.98 4 王景青 88,126,276 1.84 5 香港中央结算有限公司 73,891,670 1.54 6 中国建设银行股份有限公司江苏省分行 42,546,743 0.89 7 中国太平洋财产保险股份有限公司－传统 －普通保险产品－013C－CT001 沪 42,499,913 0.89 8 张素芬 42,200,000 0.88 一、2025 年 8 月 22 日前十名股东持股信息 证券代码：601975 证券简称：招商南油 公告编号：临 2025-024 招商局南京油运股份有限公司 关于回购股份事项前十大股东和前十大无限售条件股东 持股情况的公告 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。 招商局南京油运股份有限公司（以下简称" ...

Financial Performance - The company reported a net profit of 570 million yuan for the first half of 2025, a decrease of 53.28% year-on-year [1] - Total operating revenue was 2.772 billion yuan, down 21.43% compared to the same period last year [1] - The gross profit margin fell to 26.2%, a decline of 26.67% year-on-year, while the net profit margin decreased to 20.82%, down 40.18% [1] Key Financial Metrics - Earnings per share (EPS) dropped to 0.12 yuan, a decrease of 53.12% year-on-year [1] - Operating cash flow per share was 0.21 yuan, down 33.84% compared to the previous year [1] - The company's total liabilities decreased by 41.35% to 821 million yuan [1] Changes in Financial Items - Prepayments increased by 64.91% due to higher ship insurance and port fees [3] - Other current assets decreased by 94.48% due to a reduction in deductible input tax [3] - Long-term borrowings decreased by 42.52% as a result of repayment [5] Investment Insights - The company's return on invested capital (ROIC) was 16.54%, indicating strong capital returns [7] - Analysts expect the company's performance in 2025 to reach 1.329 billion yuan, with an average EPS forecast of 0.28 yuan [7] Fund Holdings - The largest fund holding the company is the Guotai Zhongzheng Oil and Gas Industry ETF, with a scale of 189 million yuan [8] - The fund's net value increased by 0.65% on August 25, with a year-on-year increase of 10.46% [8]

风险提示：投资有风险，入市需谨慎。 招商南油股价报2.98元，较前一交易日下跌0.01元。盘中最高触及3.02元，最低下探至2.96元，成交额达 7.55亿元。 招商南油是招商局集团旗下专业油轮运输企业，主要从事海上原油、成品油、化工品和气体运输业务。 公司目前运营船舶74艘，总载重吨位284.61万吨。 公司最新披露的半年报显示，2025年上半年实现营业收入27.72亿元，同比下降21.43%；归属于上市公 司股东的净利润5.7亿元，同比下降53.28%。公司同时公告拟以自有资金回购股份，回购金额在2.5亿至 4亿元之间，回购价格不超过4.32元/股。 来源：金融界 ...