福建海通发展股份有限公司2025 年年度报告 公司代码：603162 公司简称：海通发展 福建海通发展股份有限公司 2025 年年度报告 1 / 252 福建海通发展股份有限公司2025 年年度报告 重要提示 一、本公司董事会及董事、高级管理人员保证年度报告内容的真实性、准确性、完整性，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、公司全体董事出席董事会会议。 三、 致同会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、公司负责人曾而斌、主管会计工作负责人刘国勇及会计机构负责人（会计主管人员）乐君杰 声明：保证年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司拟向全体股东每10股派发现金红利0.50元（含税）。截至2026年3月3日，公司总股本 927,946,308股，以扣除不参与利润分配的拟回购注销的限制性股票302,000股后的927,644,308股为 基数计算，合计拟派发现金红利46,382,215.40元（含税）。 公司拟以资本公积转增股本方式向全体股东每10股转增4.80股。截至2026 ...

证券代码：603162 证券简称：海通发展 公告编号：2026-020 福建海通发展股份有限公司 关于 2025 年度利润分配及资本公积转增股本预案的 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。 重要内容提示： 每股分配比例，每股转增比例：福建海通发展股份有限公司（以下简称 "公司"）拟每 10 股派发现金红利 0.50 元（含税），同时以资本公积转增股本 方式向全体股东每 10 股转增 4.80 股。 本次利润分配及资本公积转增股本以实施权益分派股权登记日登记的总 股本为基数，具体日期将在权益分派实施公告中明确。 在实施权益分派股权登记日前公司总股本（不考虑拟回购注销限制性股 票 302,000 股）发生变动的，拟维持每股分配金额及转增比例不变，相应调整分 配总额及转增总额，并将在相关公告中披露。 公司不触及《上海证券交易所股票上市规则（2025 年 4 月修订）》（以 下简称"《股票上市规则》"）第 9.8.1 条第一款第（八）项规定的可能被实施 其他风险警示的情形。 一、利润分配预案内容 经致同会计师事务所（特 ...

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - The battery swapping model is achieving "time-saving, labor-saving, worry-free, and more profitable" results, with Cao Cao Mobility planning to deploy 100,000 Robotaxi vehicles by 2030 [3][13] - EHang Intelligent expects to achieve full-year GAAP profitability in 2026, with order volume, production capacity, and profitability milestones validating the commercialization of eVTOL [3][15] - The U.S. Department of Transportation and FAA have launched an eVTOL integration pilot program, with eight projects selected to commence real operational testing in the summer of 2026 [3][16] - Cathay Pacific has raised fuel surcharges, reflecting the transmission of oil price shocks to ticket prices [3][18] - Shipping traffic through the Strait of Hormuz is nearly stagnant due to escalating U.S.-Iran conflicts, increasing shipping risks and oil prices [3][29] Industry Dynamics Tracking - The Baltic Air Freight Price Index has increased month-on-month but decreased year-on-year [4][31] - The shipping and port sector shows an increase in container shipping rates and dry bulk freight rates, while oil shipping rates have decreased [4][43] - In express logistics, the volume of express deliveries increased by 2.30% year-on-year in December 2025, with revenue up by 0.70% [4] - In aviation, the average daily international flights in the second week of March 2026 were 1,750.29, down 2.92% month-on-month but up 7.12% year-on-year [4] - The number of trucks passing through national highways increased by 40.64% week-on-week from March 2 to March 8 [4] Investment Recommendations - Focus on low-altitude economy and autonomous driving trends, recommending companies like CITIC Heli and Cao Cao Mobility [5] - Monitor opportunities in the shipping sector, particularly in oil, dry bulk, and container shipping, recommending companies like China Merchants Energy and COSCO Shipping [5] - Explore international market expansion opportunities in express logistics, recommending SF Express and Jitu Express [5] - Keep an eye on investment opportunities in high-speed rail and highways, recommending Beijing-Shanghai High-Speed Railway [5] - Dynamic monitoring of aviation investment opportunities, recommending China Southern Airlines and China Eastern Airlines [5]

近日，公司已向中国证券登记结算有限责任公司上海分公司提交了注销上述 股票期权的申请。截至本公告披露日，经中国证券登记结算有限责任公司上海分 公司审核确认，公司已完成上述部分股票期权的注销事宜。 本次注销的股票期权尚未行权，注销后不会对公司股本造成影响。本次注销 部分股票期权事项符合《上市公司股权激励管理办法》《2024 年股票期权与限 制性股票激励计划（草案）》及《2025 年股票期权与限制性股票激励计划（草 案）》的相关规定。 特此公告。 证券代码：603162 证券简称：海通发展 公告编号：2026-017 福建海通发展股份有限公司 关于部分股票期权注销完成的公告 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。 福建海通发展股份有限公司（以下简称"公司"）于 2026 年 3 月 5 日召开 了第四届董事会第三十六次会议，审议通过了公司《关于回购注销部分限制性股 票和注销部分股票期权的议案》，注销部分股票期权具体情况如下：公司 2024 年股票期权与限制性股票激励计划首次授予中的 2 名激励对象因个人原因离职 不再具备激励 ...

Core Viewpoint - Haitong Development (603162.SH) has experienced a significant decline in stock price since its listing, currently trading at 13.74 yuan, down 6.53% from its initial offering price of 37.25 yuan [1][2]. Group 1: IPO Details - Haitong Development was listed on the Shanghai Stock Exchange on March 29, 2023, with an issuance of 41,276,015 shares at a price of 37.25 yuan per share [1]. - The total amount raised from the IPO was 153,753.16 million yuan, with a net amount of 142,793.20 million yuan after expenses [2]. - The total issuance costs (excluding tax) amounted to 10,959.96 million yuan, with underwriting and sponsorship fees of 8,656.42 million yuan [2]. Group 2: Fund Utilization - The funds raised from the IPO are intended for the purchase of ultra-flexible bulk carriers, information system construction and upgrades, and to supplement working capital [2]. Group 3: Financial Performance and Dividend Distribution - For the year 2022, the company announced a cash dividend of 0.20 yuan per share and a capital reserve increase of 0.48 shares for every share held, resulting in a total distribution of 82,552,030 yuan in cash and an increase of 198,124,872 shares [3]. - For the year 2023, the company plans to distribute a cash dividend of 0.15 yuan per share, with a total cash dividend of 92,218,203.30 yuan, and a capital reserve increase of 4.80 shares for every 10 shares held, leading to a total share capital of 909,886,272 shares post-distribution [3].

Investment Rating - The report maintains a recommendation for the transportation industry, indicating a positive outlook for specific sectors within the industry [3]. Core Insights - Geopolitical risk premiums are embedded in tanker freight rates, with a focus on the defensive value of dividend assets [1]. - The shipping market is under pressure due to escalating conflicts in the Middle East, leading to a tightening of the tanker market and increased freight rates [16]. - Infrastructure assets are expected to see valuation recovery, with a recommendation to select stocks that offer dividend benefits [19]. - The air travel sector is experiencing a growth trend in demand, but caution is advised regarding the impact of rising oil prices on profitability [25]. - The express delivery sector is showing signs of recovery in demand growth, with potential for valuation improvement as competition stabilizes [21]. Shipping Sector Summary - The shipping industry is experiencing a rise in freight rates due to geopolitical tensions, particularly in the Middle East, with specific routes seeing significant price increases [12][16]. - The SCFI index shows a weekly increase, with notable rises in rates for routes to the US and Europe [32]. - The report suggests focusing on shipping stocks such as COSCO Shipping Energy, COSCO Shipping Holdings, and others for potential investment opportunities [16]. Infrastructure Sector Summary - Weekly data indicates a significant increase in truck traffic, with a 229.7% week-on-week growth, although year-on-year comparisons show a decline [17][19]. - Port throughput has increased by 25.2% week-on-week, indicating a recovery trend despite a year-on-year decline [19]. - Recommended stocks in the infrastructure sector include Anhui Expressway, Tangshan Port, and Qingdao Port, which are seen as stable cash flow assets [19]. Express Delivery Sector Summary - The express delivery sector is witnessing a rebound in demand, with a 424.9% increase in collection volume week-on-week [21]. - The report highlights the competitive landscape, suggesting that regulatory support may enhance price stability and improve stock performance for leading companies [21]. - Recommended stocks include Shentong Express, Yunda Express, and SF Express, which are expected to benefit from operational optimizations [21]. Aviation Sector Summary - The aviation sector is experiencing a growth in passenger volume, with a year-on-year increase of 27.5% during the Spring Festival period [25]. - However, rising oil prices due to geopolitical tensions pose a risk to profitability, necessitating caution [25]. - The report emphasizes the importance of monitoring oil price trends and their potential impact on airline stocks [25].

Investment Rating - The report maintains an "Overweight" rating for the transportation industry [2] Core Insights - The report highlights the upward trend in freight rates, particularly in oil shipping, and recommends focusing on highway investments as a safe haven [1][4] - The aviation sector is expected to benefit from a recovery in international routes and a favorable demand environment, with a focus on major airlines and low-cost carriers [4][5] - The logistics and express delivery sectors are seeing improvements in operational quality due to anti-competitive measures and technological advancements [6][7] Summary by Sections Aviation Data Tracking - Daily flight operations from March 2 to March 6 showed a decrease in flight numbers for major airlines, but year-on-year comparisons indicate growth [4][5] - Average aircraft utilization rates also declined week-on-week, but showed positive year-on-year growth [4][5] - The report notes a significant increase in Brent crude oil prices, impacting airline stock prices negatively, but anticipates recovery as geopolitical tensions ease [4][5] Shipping Data Tracking - The report indicates a clear upward trend in shipping rates, particularly in oil shipping, with significant increases in relevant indices [6][7] - The BDTI index for oil shipping rose by 54.14% week-on-week and 248.35% year-on-year, indicating strong demand and limited supply [6][7] - The report suggests that geopolitical conflicts may reshape global shipping dynamics, presenting investment opportunities in oil and bulk shipping [6][7] Logistics Data Tracking - The report tracks significant increases in freight traffic across highways, railways, and ports, indicating a recovery in logistics activity [6][7] - The express delivery sector is expected to see continued growth driven by anti-competitive policies and advancements in automation [6][7] - The report emphasizes the importance of focusing on companies with strong operational performance and growth potential in the logistics sector [6][7] Infrastructure Investment Insights - The report recommends investing in highway infrastructure due to rising demand and favorable economic conditions [6][7] - It highlights specific companies in the highway sector that are expected to benefit from ongoing infrastructure projects and stable cash flows [6][7]

福建天衡联 訓事务所 IN WAT 关于福建海通发展股份有限公司 回购注销部分限制性股票和理销部分股票期权事项的 法律意见书 福建天衡联合律师事务所 Tenet & Partners 中国福州振武路 70 号福晟钱隆广场 43 层 福州 · 厦门 · 泉州 · 龙岩 · 上海 Http://www.tenetlaw.com 【 天衡律师 法律意见书 | | | | 릴 | 言 … | | --- | --- | | 一、释义………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 2 | | | 二、律师声明事项 . | | | 正 文 | | | .. | | | 一、关于本次回购注销已履行的程序 . | | | 二、关于本次回购注销方案 . | | | 三、结论意见 . | ···························· 6 | 天衡联合律师事务所 Tenet & Partners 法律意见书 〔2026〕 天衡福顾字 00 ...

证券代码：603162 证券简称：海通发展 公告编号：2026-015 福建海通发展股份有限公司 关于回购注销部分限制性股票和注销部分股票期权 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。 重要内容提示： ●限制性股票回购注销数量：30.20 万股，其中 2024 年股票期权与限制性 股票激励计划首次授予部分限制性股票回购注销 4.20 万股；2025 年股票期权与 限制性股票激励计划首次授予部分限制性股票回购注销 18.00 万股，预留授予部 分限制性股票回购注销 8.00 万股。 ●限制性股票回购价格：本次 2024 年股票期权与限制性股票激励计划首次 授予部分限制性股票回购价格为 4.80 元/股；本次 2025 年股票期权与限制性股票 激励计划首次授予部分限制性股票回购价格为 4.06 元/股，预留授予部分限制性 股票回购价格为 4.36 元/股。 ●股票期权注销数量：17.20 万份，其中 2024 年股票期权与限制性股票激 励计划首次授予部分股票期权注销 4.20 万份；2025 年股票期权与限制性股票激 ...

证券代码：603162 证券简称：海通发展 公告编号：2026-016 2、公司 2025 年股票期权与限制性股票激励计划首次授予中的 4 名激励对象 及预留授予中的 2 名激励对象，因个人原因离职不再具备激励对象资格，公司根 据《上市公司股权激励管理办法》及公司《2025 年股票期权与限制性股票激励 计划（草案）》的相关规定，公司首次授予中 4 名激励对象已获授但尚未解除限 售的 18.00 万股限制性股票进行回购注销，已获授但尚未行权的 9.00 万份股票期 权进行注销；公司预留授予中 2 名激励对象已获授但尚未解除限售的 8.00 万股 限制性股票进行回购注销，已获授但尚未行权的 4.00 万份股票期权进行注销。 以上事项公司将回购注销 30.20 万股限制性股票，占公司目前总股份数的 0.03%，注销事项办理完成后，公司股份总数将由 927,946,308 股变更为 927,644,308 股，公司注册资本将减少 30.20 万元。根据公司的经营情况和财务 状况，本次注销公司股票暨减少公司注册资本的行为不会对公司的经营、财务 和未来发展产生重大影响。 二、需债权人知晓的相关信息 根据《中华人民共和国公 ...