3月26日，红利ETF易方达（515180）开盘跌0.14%，报1.427元。红利ETF易方达（515180）重仓股方 面，中远海控开盘涨0.86%，广汇能源涨0.73%，中谷物流跌0.71%，山煤国际跌0.34%，平煤股份跌 0.47%，潞安环能跌0.43%，鄂尔多斯跌0.73%，山西焦煤涨0.14%，陕西煤业涨0.31%，藏格矿业跌 0.10%。 红利ETF易方达（515180）业绩比较基准为中证红利指数收益率，管理人为易方达基金管理有限公司， 基金经理为林伟斌、宋钊贤，成立（2019-11-26）以来回报为85.20%，近一个月回报为-1.03%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 MACD金叉信号形成，这些股涨势不错！ MACD金叉信号形成，这些股涨势不错！ 责任编辑：小浪快报 3月26日，红利ETF易方达（515180）开盘跌0.14%，报1.427元。红利ETF易方达（515180）重仓股方 面，中远海控开盘 ...

3月26日，中证红利ETF招商（515080）开盘跌0.06%，报1.598元。中证红利ETF招商（515080）重仓股 方面，中远海控开盘涨0.86%，广汇能源涨0.73%，中谷物流跌0.71%，山煤国际跌0.34%，平煤股份跌 0.47%，潞安环能跌0.43%，鄂尔多斯跌0.73%，山西焦煤涨0.14%，陕西煤业涨0.31%，西部矿业跌 2.35%。 中证红利ETF招商（515080）业绩比较基准为中证红利指数收益率，管理人为招商基金管理有限公司， 基金经理为刘重杰、王平，成立（2019-11-28）以来回报为110.77%，近一个月回报为-1.04%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 MACD金叉信号形成，这些股涨势不错！ 责任编辑：小浪快报 3月26日，中证红利ETF招商（515080）开盘跌0.06%，报1.598元。中证红利ETF招商（515080）重仓股 方面，中远海控开盘涨0.86%，广汇能源涨0.73 ...

Investment Rating - The investment rating for the transportation industry is "Positive" (maintained) [4] Core Views - The current demand in the e-commerce express delivery industry remains resilient, with a top-down "anti-involution" policy driving up express prices, thereby releasing profit elasticity for companies. The long-term outlook for e-commerce express delivery is favorable due to healthy competition opportunities [16] - The oil transportation sector is expected to benefit from sustained crude oil production and tight capacity, with the "Changjin factor" reshaping pricing logic. Geopolitical changes may continue to catalyze sentiment or fundamentals, leading to a significant improvement in the oil transportation market in 2026 [16] - The bulk shipping market is anticipated to recover, driven by environmental regulations limiting the operation of aging fleets and increased production of iron ore from Australia, Brazil, and West Africa. The market is expected to enter a "new cycle" [16] - The shipping industry is experiencing a green renewal cycle, with demand driven by shipping market recovery and progress in green updates. The new shipbuilding market is expected to improve as constraints ease [16] Summary by Sections Shipping and Ports - Iran may establish a "safe passage" in the Strait of Hormuz, with multiple countries negotiating with Tehran for ship passage. However, security experts warn of potential delays or seizures by Iranian forces [4] - MSC Group has acquired a 50% stake in Changjin Shipping, supporting aggressive expansion of its VLCC fleet, which is estimated to control 150 VLCCs, significantly impacting market concentration and pricing [5] - The SCFI composite freight index decreased by 0.2% to 1707 points, with varying changes in freight rates across different routes [6] - The BDTI index for VLCC freight rates increased by 0.26% to 2821 points, while TCE rates for VLCCs decreased by 5.9% [7] - The BDI index for bulk carriers increased by 3.2% to 2046 points, indicating a rise in bulk shipping rates [8] - China's port cargo throughput increased by 9.52% to 25.617 million tons, with container throughput rising by 9.27% to 6.6 million TEU [10] Express Logistics - In January-February 2026, the express delivery industry volume grew by 7.1% year-on-year, with significant differentiation in market share among major players [9] - Zhongtong Express reported a stable net profit per ticket and committed to a shareholder return rate of no less than 50% [10] - Shentong plans to issue 3 billion yuan in convertible bonds for logistics network upgrades, with a commitment to distribute at least 30% of profits in cash over the next three years [11] - Price adjustments have been made in Yunnan and Jiangxi provinces, reflecting rising operational costs [12] Aviation and Airports - China and Thailand have suspended aviation fuel exports, potentially leading to fuel shortages for airlines [14] - The Ministry of Commerce has announced measures to promote travel service exports and expand inbound consumption [14] Road and Rail - From March 9 to March 15, 2026, national freight logistics operated smoothly, with rail freight increasing by 6.7% and highway truck traffic rising by 14.75% [15]

丨证券研究报告丨 投资维度，霍尔木兹海峡封锁导致全球原油价格上涨，能源安全或是今年主线： 1）若海峡封锁 时间可控，原油补库带动需求脉冲；长期看，需求合规化+长锦商船控盘做多逻辑延续，继续推荐 招商轮船、中远海能；2）新能源及煤炭供应链集中受益，推荐中远海特、海通发展、太平洋航运； 3）看好造船行业景气延续，推荐中国船舶；4）红海复航预期降温，推荐海丰国际、中谷物流。 分析师及联系人 [Table_Author] 韩轶超 魏爱晓 SAC：S0490512020001 SFC：BQK468 行业研究丨行业周报丨海运 [Table_Title] 海运周报：美伊冲突持续，集运股领涨为主 报告要点 [Table_Summary] 本周，油运高位下跌，集运船东提价，散运下跌，化学品海运保持运价持平。 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 [Table_Title2] 海运周报：美伊冲突持续，集运股领涨为主 [Table_Summary2] 运价走势复盘：油运高位下跌，集散上涨 行业研究丨行业周报 [Table_Rank] 投资评级 看好丨维持 油运高位下跌：本周 ...

证券代码：603565 证券简称：中谷物流 公告编号：2026-008 上海中谷物流股份有限公司 2026年第一次临时股东会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 517 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 127,940,443 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份 | | | 总数的比例（%） | 6.0922 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 会议由公司董事会召集，由于公司董事长李永华先生因公外出，经公司过半 数董事选举，董事李大发先生主持了本次股东会。本次会议的召集、召开符合《公 司法》和《公司章程》等法律、法规和其他规范性文件的有关规定。公司向公司 (一) 股东会召开的时间：2026 年 3 月 19 日 (二) 股东会召开的地点：上海市浦东新区民生路 1188 号 18 ...

北京植德（上海）律师事务所 关于上海中谷物流股份有限公司 2026 年第一次临时股东会的 法律意见书 植德沪(会)字[2026]0008 号 二〇二六年三月 植德沪（会）字[2026]0008 号 致：上海中谷物流股份有限公司（贵公司） 北京植德（上海）律师事务所（以下简称"本所"）接受贵公司的委托，指派 律师出席并见证贵公司 2026 年第一次临时股东会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》（以 下简称"《股东会规则》"）、《律师事务所从事证券法律业务管理办法》（以下简 称"《证券法律业务管理办法》"）、《律师事务所证券法律业务执业规则（试行）》 （以下简称"《证券法律业务执业规则》"）等相关法律、行政法规、规章、规范 性文件及《上海中谷物流股份有限公司章程》（以下简称"《公司章程》"）的规 定，就本次会议的召集与召开程序、召集人资格、出席会议人员资格、会议表决 程序及表决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 1．本所律师仅就本次会议的召集 ...

Group 1 - The report highlights the potential decline in efficiency and effective capacity loss if the Middle East conflict persists, with adjustments in shipping routes from the Middle East/Indian subcontinent [1] - Following a significant decrease in traffic through the Strait of Hormuz, many shipping companies have ceased pickups to the Persian Gulf, with alternative routes including detours around Africa's Cape of Good Hope to ports in the Red Sea, such as Jeddah in Saudi Arabia, followed by land transport into Gulf countries [1] - There is a concern about potential congestion at transshipment ports, as goods originally destined for the Persian Gulf may be redirected to international transshipment ports, with a focus on monitoring congestion at ports like Singapore and Port Klang, and the subsequent impact on capacity [1] Group 2 - The land transportation and shipping operations may be affected by fuel supply issues, with the report indicating that if oil and refined product trade from the Middle East continues to be disrupted, countries with high import dependence may experience rising gasoline and diesel prices or supply constraints, impacting land transport systems [1] - The potential shortage of marine fuel could lead to reduced speeds for vessels, and in such scenarios, global demand may also face a decline [1] - The report expresses a positive outlook on leading global companies such as COSCO Shipping Holdings, regional leader Seaspan Corporation, and companies benefiting from container ship leasing like Sinotrans Limited, due to their strong balance sheets and dividend yields [1]

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].

2026 年第一次临时股东会会议议程 一、会议时间、地点 （一）现场股东会 上海中谷物流股份有限公司 2026 年第一次临时股东会会议资料 603565 中国·上海 二〇二六年三月 上海中谷物流股份有限公司 日期、时间：2026 年 3 月 19 日（星期四）下午 14:30 地点：上海市浦东新区民生路 1188 号 18 楼会议室 （二）网络投票 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：2026 年 3 月 19 日至 2026 年 3 月 19 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东 会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互联网投票平 台的投票时间为股东会召开当日的 9:15-15:00。 二、会议召集人 上海中谷物流股份有限公司董事会 三、会议表决方式 现场投票和网络投票相结合 四、会议内容 1、关于预计公司 2026 年度关联交易的议案 （四）审议议案 （一）主持人宣布会议开始 （二）主持人报告会议出席情况 （三）主持人宣布提交本次会议审议的议案 （五）记名投票表决上述议案 （六）主 ...

证券代码：603565 证券简称：中谷物流 公告编号：2026-006 上海中谷物流股份有限公司 具体内容详见上海证券交易所网站同日披露的公告。 2. 审议通过《关于提议召开公司 2026 年第一次临时股东会的议案》 表决结果：赞成 9 票，反对 0 票，弃权 0 票。 第四届董事会第十二次会议决议公告 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、董事会会议召开情况 上海中谷物流股份有限公司第四届董事会第十二次会议于 2026 年 3 月 3 日 召开，会议通知及相关文件于会议前发出。本次会议在公司会议室以现场结合通 讯方式召开，会议应参加董事 9 人，实际参加董事 9 人，会议由董事长李永华先 生主持，符合《公司法》及《公司章程》的有关规定，会议合法有效。 二、董事会会议审议情况 1. 审议通过《关于预计公司 2026 年度关联交易的议案》 表决结果：赞成 4 票，反对 0 票，弃权 0 票。关联董事李永华先生、卢宗俊 先生、李大发先生、卢长迪先生、卢长威先生回避表决。 该议案已经董事会审计委员会及独立董事专门会议审 ...