密尔克卫智能供应链服务集团股份有限公司 可转债转股结果暨股份变动公告 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： | 证券代码：603713 | 证券简称：密尔克卫 | 公告编号：2026-016 | | --- | --- | --- | | 转债代码：113658 | 转债简称：密卫转债 | | 一、可转债上市发行概况 （一）可转债发行概况 经中国证券监督管理委员会《关于核准密尔克卫化工供应链服务股份有限 公司公开发行可转换公司债券的批复》（证监许可〔2022〕1905 号）核准，公 司于 2022 年 9 月 16 日公开发行可转换公司债券 8,723,880 张，每张面值 100 元，发行总额为人民币 872,388,000 元。 （二）可转债上市概况 经《关于密尔克卫化工供应链服务股份有限公司可转换公司债券上市交易 的通知》（上海证券交易所自律监管决定书〔2022〕282 号）同意，公司 87,238.80 万元可转换公司债券于 2022 年 10 月 25 日起在上海证券交易所挂牌交 易，债券简 ...

| 证券代码：603713 | 证券简称：密尔克卫 | 公告编号：2026-018 | | --- | --- | --- | | 转债代码：113658 | 转债简称：密卫转债 | | 密尔克卫智能供应链服务集团股份有限公司 关于召开 2025 年年度业绩暨现金分红说明会的公告 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： 密尔克卫智能供应链服务集团股份有限公司（以下简称"公司"）将于 2026 年 4 月 10 日发布公司 2025 年年度报告，为便于广大投资者更全面深入地了解公 司 2025 年年度经营成果、财务状况，公司计划于 2026 年 4 月 10 日 13:00-14:00 举行 2025 年年度业绩暨现金分红说明会，就投资者关心的问题进行交流。 一、说明会类型 （三）会议召开方式：上证路演中心网络互动 三、参加人员 公司董事长、总经理陈银河先生，独立董事余坚先生，副总经理、董事会秘 书缪蕾敏女士，财务总监杨波先生。 四、投资者参加方式 （一）投资者可在 2026 年 4 月 10 日 13: ...

密尔克卫智能供应链服务集团股份有限公司（以下简称"公司"）于2026 年1月26日召开第四届董事会第十次会议，审议通过了《关于变更注册资本、经 营范围及修改<公司章程>的议案》，同意将公司注册资本由158,162,931元变更为 158,127,190元；为拓展新的利润增长点，适应公司业务发展需要，同意对经营范 围进行变更，具体内容详见公司于2026年1月27日披露的《密尔克卫智能供应链 服务集团股份有限公司关于变更注册资本、经营范围、修改<公司章程>及部分制 度的公告》（公告编号：2026-006）。此事项已经2026年2月11日召开的2026年 第一次临时股东会审议通过。 二、变更情况 （一）注册资本变更 变更前：15816.2931 万人民币 | 证券代码：603713 | 证券简称：密尔克卫 | 公告编号：2026-017 | | --- | --- | --- | | 转债代码：113658 | 转债简称：密卫转债 | | 密尔克卫智能供应链服务集团股份有限公司 关于完成注册资本及经营范围工商变更登记的公告 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 ...

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]

Investment Rating - The report maintains a "Recommendation" rating for the transportation industry, indicating an expected increase in the industry index exceeding the benchmark index by more than 5% in the next 3-6 months [78]. Core Insights - The report highlights the significant impact of the ongoing Middle East conflict on shipping rates, with oil tanker rates experiencing a decline but remaining at historical highs, while container shipping rates are on the rise [1][2]. - The daily average of vessels passing through the Strait of Hormuz has drastically decreased by 95% to 5 vessels, compared to 125 vessels before the conflict, with oil tankers averaging only 1 vessel per day [1][11]. - Brent crude oil futures have shown substantial volatility, closing at $103.89 per barrel, an increase of 11% from March 6 [1][15]. Industry Data Tracking Shipping Market Impact - Oil shipping rates have adjusted from historical highs, with the Clarksons VLCC-TCE index at $175,000, down 54.2% week-on-week. The Middle East to China route is reported at $390,000 per day, down 17% [2][18]. - Container shipping rates have increased, with the SCFI index reaching 1710 points, up 14.9% week-on-week, driven by rising fuel costs and the ongoing geopolitical situation [2][25]. - The dry bulk shipping market has seen limited impact, with the BDI index at 2028 points, reflecting a 0.9% increase week-on-week [2][26]. Investment Recommendations - The report suggests that if the Middle East conflict remains manageable and the passage through the Strait of Hormuz gradually resumes, it could trigger a replenishment market. The report continues to recommend companies such as China Merchants Energy and COSCO Shipping Energy [3][31]. - Emphasis is placed on the importance of energy resource security, with recommendations for logistics and warehousing companies like Hongchuan Wisdom and Milky Way [3][31]. - The report also highlights the potential for growth in the aviation sector, with a focus on major airlines and logistics companies, suggesting a favorable outlook for companies like China Southern Airlines and Spring Airlines [4][58].

Investment Rating - The report does not explicitly provide an overall investment rating for the transportation sector Core Views - The express delivery sector is expected to benefit from legislative measures aimed at reducing "involution" competition, with a focus on stabilizing prices and improving quality, particularly for leading companies like Zhongtong Express and Jitu Express in overseas markets [2] - The chemical logistics sector is anticipated to improve due to rising chemical prices, with a focus on companies such as Milkway, Hongchuan Wisdom, Xingtong, Shenghang, and Yongtaiyun [3] - The aviation sector is projected to recover with a 3.34% year-on-year increase in international passenger flights for the summer season, with recommendations for China National Aviation and Southern Airlines [4] - The shipping sector is closely monitored for developments in the US-Iran conflict, which may impact oil and container shipping rates [5] - The road and rail sector is seen as defensive amid geopolitical disturbances, with a focus on coal transportation due to rising oil prices [6] Summary by Sections Transportation Market Review - The transportation index fell by 1.0% from March 7 to March 13, 2026, while the Shanghai and Shenzhen 300 index rose by 0.2%, underperforming the market by 1.2% [1][13] Industry Fundamentals Tracking Shipping and Ports - The export container shipping market is facing challenges due to geopolitical tensions, with the China Export Container Freight Index (CCFI) at 1072.16 points, a 1.7% increase week-on-week but an 11.5% decrease year-on-year [23] - The oil shipping index (BDTI) is at 2813.8 points, down 1.9% week-on-week but up 209.5% year-on-year [39] Aviation and Airports - The aviation sector is showing signs of recovery, with a 10.55% year-on-year increase in daily flights and a 3.34% increase in planned international flights for the summer season [4][57] - Brent crude oil prices have risen to $103.14 per barrel, impacting operational costs for airlines [70] Rail and Road - The rail sector is experiencing upward momentum, with coal transportation gaining importance due to rising oil prices [6][82] - The road sector shows a 40.64% week-on-week increase in truck traffic on highways, although year-on-year figures are down by 9.28% [85]

中国国际金融股份有限公司 关于密尔克卫智能供应链服务集团股份有限公司 使用暂时闲置募集资金进行现金管理的核查意见 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作为正在履行密 尔克卫智能供应链服务集团股份有限公司（以下简称"密尔克卫"或"公司"）持续督导工 作的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司募集资金监管规则》 《上海证券交易所股票上市规则》《上海证券交易所上市公司自律监管指引第 1 号—— 规范运作》等有关法律、行政法规、部门规章及业务规则的要求，对密尔克卫使用暂时 闲置的募集资金进行现金管理的事项进行了认真、审慎核查，具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准密尔克卫化工供应链服务股份有限公司非公 开发行股票的批复》（证监许可〔2020〕3424 号）核准，公司非公开发行人民币普通股 （A 股）股票 9,747,452 股，发行价格为 112.85 元/股。截至 2021 年 3 月 5 日，公司实 际募集资金总额为人民币 1,099,999,958.20 元，扣除各项发行费用人民币 11,017,358.50 元（不含税），实际募集资 ...

| 证券代码：603713 | 证券简称：密尔克卫 | 公告编号：2026-013 | | --- | --- | --- | | 转债代码：113658 | 转债简称：密卫转债 | | （一）现金管理目的 密尔克卫智能供应链服务集团股份有限公司 关于使用闲置募集资金进行现金管理的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 一、募集资金相关情况 经中国证券监督管理委员会《关于核准密尔克卫化工供应链服务股份有限公 司非公开发行股票的批复》（证监许可〔2020〕3424号）核准，公司非公开发行 人民币普通股（A股）股票9,747,452股，发行价格为112.85元/股。截至2021年3 月5日，公司实际募集资金总额为人民币1,099,999,958.20元，扣除各项发行费用 人民币11,017,358.50元（不含税），实际募集资金净额为人民币1,088,982,599.70 投资种类：用于购买安全性高、流动性好、低风险、期限不超过 12 个月 的保本型产品（包括但不限于银行固定收益型或保本浮动收益型 ...

| 证券代码：603713 | 证券简称：密尔克卫 | 公告编号：2026-015 | | --- | --- | --- | | 转债代码：113658 | 转债简称：密卫转债 | | 密尔克卫智能供应链服务集团股份有限公司 关于2025年度"提质增效重回报"行动方案的评估报 告暨2026年度"提质增效重回报"行动方案 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。 为深入贯彻中央经济工作会议和中央金融工作会议精神，落实国务院《关于 加强监管防范风险推动资本市场高质量发展的若干意见》《关于进一步提高上市 公司质量的意见》的相关要求，响应上海证券交易所关于开展沪市公司"提质增 效重回报"专项行动的倡议，践行以"投资者为中心"的发展理念，进一步提高 上市公司质量，保护投资者利益，树立良好的资本市场形象，密尔克卫智能供应 链服务集团股份有限公司（以下简称"公司"或"密尔克卫"）于 2025 年 3 月 7 日披露了"提质增效重回报"行动方案。自行动方案发布以来，公司积极开展和 落实有关工作，并取得了良好的成效和进展。 2026 年 ...

| 证券代码：603713 | 证券简称：密尔克卫 | 公告编号：2026-014 | | --- | --- | --- | | 转债代码：113658 | 证券简称：密卫转债 | | 密尔克卫智能供应链服务集团股份有限公司 关于使用部分闲置自有资金进行现金管理的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 一、本次使用闲置自有资金进行现金管理的情况概述 （一）投资目的 公司及其控股子公司拟在投资风险可控且不影响公司正常经营的情况下，提 高资金使用效率，合理利用闲置自有资金，获得一定的投资收益，进一步提升公 司整体业绩水平，为公司和股东谋取更多的投资回报。 （二）投资金额 公司及其控股子公司拟使用总额度不超过50,000.00万元闲置自有资金进行 现金管理。在上述额度范围内，资金可循环滚动使用。 公司于 2026 年 3 月 13 日召开第四届董事会第十一次会议，审议通过了《关 于使用闲置自有资金进行现金管理的议案》。本着股东利益最大化原则，为提高 闲置自有资金使用效率，公司及其控股子公司拟使用总 ...