智通财经APP讯，华贸物流(603128.SH)发布公告，公司控股股东中国物流集团有限公司的全资子公司 中国物流集团资本管理有限公司(简称"资本管理有限公司")于2025年10月9日通过集中竞价交易方式增 持公司股份71730股，增持金额约人民币43.04万元。资本管理有限公司计划自2025年10月9日起6个月 内，通过上海证券交易所交易系统以集中竞价交易方式增持公司股份，增持金额不低于人民币0.645亿 元，不超过人民币1.29亿元。本次增持不设置固定价格区间，结合资本市场行情择机开展股票增持。 ...

Core Viewpoint - China Logistics Group Co., Ltd.'s wholly-owned subsidiary, Capital Management Co., plans to increase its stake in China Merchants Logistics (603128.SH) through a series of stock purchases over the next six months, indicating confidence in the company's future performance [1] Group 1 - Capital Management Co. has already purchased 71,730 shares at approximately RMB 430,400 on October 9, 2025 [1] - The planned increase in shareholding will range from a minimum of RMB 64.5 million to a maximum of RMB 129 million within six months starting from October 9, 2025 [1] - The share purchases will be conducted through the Shanghai Stock Exchange without a fixed price range, allowing for flexibility based on market conditions [1]

Core Viewpoint - China Logistics Group Co., Ltd.'s wholly-owned subsidiary, Capital Management Co., Ltd., plans to increase its stake in Huamao Logistics through a series of stock purchases over the next six months, indicating confidence in the company's future performance [1] Group 1: Shareholding Increase - Capital Management Co., Ltd. has already purchased 71,700 shares of Huamao Logistics for approximately 430,400 yuan [1] - The company intends to invest between 64.5 million yuan and 129 million yuan in additional shares over the next six months [1]

证券代码：603128 证券简称：华贸物流 公告编号：2025-020 港中旅华贸国际物流股份有限公司 关于控股股东增持股份及增持计划的公告 本公司董事会、全体董事及相关股东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： 2025 年 10 月 9 日收盘后，公司收到控股股东中国物流集团有限公司的全资 子公司资本管理有限公司《关于增持股份及后续增持计划的告知函》，资本管理 有限公司已于 2025 年 10 月 9 日通过集中竞价交易方式增持公司股份 71,730 股。 同时，基于对华贸物流未来发展前景的信心，资本管理有限公司计划自 2025 年 10 月 9 日起 6 个月内通过上海证券交易所交易系统以集中竞价交易方式增持公 司股份。具体情况如下： | 股东名称 | 持股数量 | 持股比例 | 一致行动关系形成原因 | | --- | --- | --- | --- | | | （股） | （%） | | | 中国物流集团有 | 599,644,827 | 45.81 | 资本管理有限公司为中 | | 限公司 | | | 国物流集团 ...

格隆汇10月9日丨华贸物流(603128.SH)公布，控股股东资本管理有限公司计划自2025年10月9日起6个月 内，通过上海证券交易所交易系统以集中竞价交易方式增持公司股份，增持金额不低于人民币0.645亿 元，不超过人民币1.29亿元。本次增持不设置固定价格区间，结合资本市场行情择机开展股票增持。于 2025年10月9日通过集中竞价交易方式增持公司股份71,730股，增持金额约人民币43.04万元。 ...

Core Viewpoint - China Logistics Group Co., Ltd.'s wholly-owned subsidiary, China Logistics Group Capital Management Co., Ltd., has increased its stake in Huamao Logistics (603128.SH) by acquiring 71,730 shares for approximately RMB 430,400, indicating confidence in the company's future performance [1] Summary by Sections Shareholding Increase - The capital management company plans to further increase its holdings in Huamao Logistics within six months starting from October 9, 2025, with a minimum investment of RMB 64.5 million and a maximum of RMB 129 million [1] Trading Method - The share acquisition will be conducted through centralized bidding on the Shanghai Stock Exchange, without setting a fixed price range, allowing for opportunistic buying based on market conditions [1]

Core Viewpoints - The shipping industry is experiencing high volatility in crude oil freight rates while container shipping rates on long-distance routes are declining [3] - The first hybrid tilt-rotor unmanned aerial vehicle (eVTOL) model has been accepted for application by the Southwest Civil Aviation Administration, and a collaboration between Saudi Arabia and Ehang is set to launch autonomous flying vehicles and air taxi services [3] - China's first national standard for logistics enterprise digitization has been officially released, and the "parallel port" logistics model has achieved a throughput of over 76,000 tons in its first year of operation [3] Shipping Industry - As of September 25, the China Import Crude Oil Comprehensive Index (CTFI) was reported at 1908.03 points, a decrease of 3.4% from September 18 [3] - The VLCC market in the Middle East is seeing a slowdown in cargo availability, while the Atlantic and Gulf routes remain relatively calm [3] - The shipping rates from Shanghai to Europe and the U.S. have decreased, with rates to Europe at $971/TEU (down 7.7%) and to the U.S. West and East coasts at $1460/FEU (down 10.8%) and $2385/FEU (down 6.7%) respectively [3] Aviation Industry - The first hybrid tilt-rotor eVTOL model application has been accepted, marking a significant milestone in China's aviation sector [3] - Saudi Arabia's Front End and Cluster2Airports are collaborating with Ehang to introduce autonomous flying vehicles and air taxi services [3] Logistics and New Transportation Models - The national standard for logistics enterprise digitization was released on September 26, focusing on general requirements [3] - The "parallel port" logistics model has been operational for one year, achieving a throughput of 76.61 million tons and 37,000 standard containers [3] Investment Recommendations - Companies in the equipment and manufacturing export chain are recommended for attention, including COSCO Shipping Specialized, China Merchants Energy Shipping, and Huamao Logistics [6] - Opportunities related to the construction of hydropower stations in the Yarlung Tsangpo River downstream are highlighted, with a focus on Sichuan Chengyu, Chongqing Port, and Fulmin Transportation [6] - The low-altitude economy and highway-railway sectors are also suggested for investment, with specific companies recommended for consideration [7]

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - Crude oil freight rates are fluctuating at high levels while container shipping rates on long-distance routes are declining [3][14] - The first hybrid tilt-rotor unmanned aerial vehicle (eVTOL) model has been accepted for certification by the Southwest Regional Administration of Civil Aviation of China, and a collaboration between Saudi Arabia and Ehang is planned to launch autonomous aerial vehicles and air taxi services [3][16] - China's first national standard for logistics enterprise digitization has been officially released, and the "Parallel Port" logistics model has achieved a cargo throughput of over 760,000 tons in its first year of operation [3][24] Summary by Sections 1. Industry Hot Events - Crude oil freight rates are experiencing high volatility, with the China Import Crude Oil Composite Index (CTFI) reported at 1908.03 points, down 3.4% from September 18 [3][14] - Container shipping rates are declining, with the Shanghai port export rate to Europe at $971/TEU, down 7.7%, and to the US West and East coasts at $1460/FEU and $2385/FEU, down 10.8% and 6.7% respectively [3][15] - The DF600 unmanned aerial vehicle has received certification acceptance, marking a significant step in the eVTOL sector [3][16] - The "Parallel Port" logistics model has successfully handled 760,000 tons of cargo, significantly improving logistics efficiency [3][25] 2. Industry High-Frequency Data Tracking - Air cargo prices remain stable, with the Shanghai outbound air freight price index at 4516.00 points, down 6.6% year-on-year [4][26] - Domestic freight volumes for August 2025 increased by 12.29% year-on-year, with total express delivery volume reaching 16.15 billion pieces [4][50] - The shipping market shows a mixed trend, with the Baltic Dry Index (BDI) at 2259 points, up 2.54% week-on-week [4][44] 3. Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping Specialized, China Merchants Energy Shipping, and Huamao Logistics [5] - Attention to the transportation demand increase driven by hydropower station construction in the Yarlung Tsangpo River downstream area, recommending Sichuan Chengyu, Chongqing Port, and Fulimin Transportation [5] - Opportunities in the low-altitude economy sector, recommending CITIC Offshore Helicopter [5] - Investment opportunities in the highway and railway sectors, recommending Gansu Guangdong Expressway, Beijing-Shanghai High-Speed Railway, and others [5] - The cruise and water ferry sector is highlighted, recommending Bohai Ferry and Straits Shares [5] - E-commerce and express delivery investment opportunities are recommended, including SF Express, Jitu Express, and Yunda Shares [5] - Opportunities in the aviation sector, recommending China National Aviation, Southern Airlines, Spring Airlines, and others [5]

Market Overview - On September 16, the logistics sector rose by 0.39% compared to the previous trading day, with Xinning Logistics leading the gains [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] Top Gainers in Logistics Sector - Xinning Logistics (300013) closed at 4.75, up 19.95% with a trading volume of 1.0766 million shares and a transaction value of 484 million [1] - Huami Duhai (872351) closed at 32.80, up 14.29% with a trading volume of 116,800 shares [1] - Jushen Co. (001202) closed at 18.21, up 10.03% with a trading volume of 282,700 shares [1] - Other notable gainers include Chuanhua Zhili (002010) up 6.49% and Haichen Co. (300873) up 5.14% [1] Decliners in Logistics Sector - Shentong Express (002468) closed at 17.73, down 2.85% with a trading volume of 263,500 shares [2] - Yunda Holdings (002120) closed at 7.96, down 1.85% with a trading volume of 428,300 shares [2] - ST Guangwu (600603) closed at 9.09, down 1.73% with a trading volume of 120,500 shares [2] Capital Flow Analysis - The logistics sector saw a net inflow of 609 million from institutional investors, while retail investors experienced a net outflow of 530 million [2] - Major stocks like Xinning Logistics had a net inflow of 113 million from institutional investors, while retail investors saw a net outflow of 42.41 million [3] - Other stocks with significant institutional inflows include Jushen Co. (858.68 million) and Chuanhua Zhili (673.80 million) [3]

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - Crude oil freight rates have significantly increased, with the China Import Crude Oil Composite Index (CTFI) rising by 14.3% to 1469.65 points as of September 11 [3][15] - The shipping market is experiencing a divergence in freight rates, with European routes seeing a decline while American routes continue to rise [16] - Cambodia's national airline plans to purchase 20 C909 aircraft from COMAC, and XPeng's eVTOL has received a flight certificate in the UAE [17][18] - Cainiao and Qatar Airways have formed a strategic partnership, with national social logistics totaling over 200 trillion yuan from January to July, reflecting a 5.2% year-on-year growth [23][25] Summary by Sections Industry Hot Events - Crude oil freight rates have surged, with the Middle East route freight rate increasing by 14.16% [14] - Cambodia's national airline intends to order 20 C909 aircraft, with 10 confirmed and 10 as intentions [17] - Cainiao and Qatar Airways have established a strategic cooperation to enhance cross-border e-commerce logistics [23] Industry High-Frequency Data Tracking - Air logistics prices remain stable, with the Shanghai outbound air freight price index at 4489.00 points, down 7.0% year-on-year [26] - The domestic freight volume for July increased by 15.04% year-on-year, with total express business volume reaching 164 billion pieces [51] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping and China Merchants Energy [5] - Pay attention to the low-altitude economy investment opportunities, suggesting companies like CITIC Offshore Helicopter [5] - Consider investment opportunities in the road and rail sectors, recommending companies such as Gansu Expressway and Beijing-Shanghai High-Speed Railway [5] - Explore investment opportunities in the express delivery sector, recommending SF Express and Yunda [5]