Core Insights - Milkwell experienced a decline of 5.08% on September 9, with a stock price of 66.39 CNY per share, a trading volume of 191 million CNY, a turnover rate of 1.78%, and a total market capitalization of 10.498 billion CNY [1] Company Overview - Milkwell Intelligent Supply Chain Service Group Co., Ltd. is located in the Pudong New Area of Shanghai, established on March 28, 1997, and listed on July 13, 2018. The company specializes in comprehensive logistics services, focusing on freight forwarding, warehousing, and transportation, and has expanded into chemical product distribution [1] - The revenue composition of Milkwell's main business includes: 48.08% from MCD unique distribution, 24.02% from MGF global freight forwarding, 17.40% from MWT integrated warehousing and distribution, 9.96% from MGM global mobility, and 0.53% from other supplementary services [1] Shareholder Insights - Among Milkwell's top ten circulating shareholders, one fund under China Europe Fund, the China Europe Times Pioneer Stock A (001938), entered the top ten in the second quarter, holding 3.5001 million shares, which accounts for 2.21% of the circulating shares. The estimated floating loss today is approximately 12.4253 million CNY [2] - The China Europe Times Pioneer Stock A (001938) was established on November 3, 2015, with a latest scale of 8.986 billion CNY. Year-to-date returns are 35.03%, ranking 936 out of 4222 in its category; the one-year return is 48.9%, ranking 1905 out of 3798; and since inception, the return is 301.19% [2] Fund Manager Information - The fund managers for China Europe Times Pioneer Stock A (001938) are Zhou Weiwen and Luo Jiaming. As of the report, Zhou has a cumulative tenure of 18 years and 304 days, managing assets totaling 29.38 billion CNY, with the best fund return during his tenure being 504.79% and the worst being -45.31% [3] - Luo has a cumulative tenure of 6 years and 72 days, managing assets totaling 13.271 billion CNY, with the best fund return during his tenure being 60.1% and the worst being -26.67% [3]

Core Viewpoint - Milkyway Logistics has been awarded multiple transportation contracts by China National Offshore Oil Corporation (CNOOC) Shell Petrochemicals, indicating a significant business opportunity for the company in the logistics sector [1] Group 1: Contract Details - Milkyway Logistics' subsidiary, Shanghai Milkyway Chemical Logistics Co., has received a notice of award for various transportation services [1] - The awarded contracts include transportation for styrene, MTBE, and other chemical products within specified regions, highlighting the company's capabilities in handling diverse logistics needs [1] Group 2: Strategic Implications - The successful bid for these contracts positions Milkyway Logistics as a key player in the chemical logistics market, potentially enhancing its market share and revenue streams [1] - The contracts cover both road and sea transportation, indicating the company's versatility and ability to meet complex logistical requirements [1]

| 证券代码：603713 | 证券简称：密尔克卫 | 公告编号：2025-081 | | --- | --- | --- | | 转债代码：113658 | 转债简称：密卫转债 | | 合同金额：约人民币 1.80 亿元，具体金额将根据实际情况确定。 二、对上市公司的影响 该项目成交预计会对公司未来经营业绩产生积极影响。密尔克卫化工物流此 次成为中海壳牌石油化工有限公司 2025+公路运输及多式联运物流服务提供商， 标志着公司作为专业化工供应链服务提供商的运输交付能力得到了认可，进一步 巩固和提升了公司的影响力，对今后公司的业务发展及市场拓展产生了积极作用。 密尔克卫智能供应链服务集团股份有限公司 关于全资子公司收到成交通知书的公告 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。 近日，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"）全 资子公司上海密尔克卫化工物流有限公司（以下简称"密尔克卫化工物流"）收 到中海壳牌石油化工有限公司出具的《成交通知书》，在参加中海壳牌石油化工 有限公司的采购响应中，经评审小组审定 ...

该项目成交预计会对公司未来经营业绩产生积极影响。密尔克卫化工物流此次成为中海壳牌石油化工有 限公司2025+公路运输及多式联运物流服务提供商，标志着公司作为专业化工供应链服务提供商的运输 交付能力得到了认可，进一步巩固和提升了公司的影响力，对今后公司的业务发展及市场拓展产生了积 极作用。 格隆汇9月8日丨密尔克卫(603713.SH)公布，全资子公司上海密尔克卫化工物流有限公司（简称"密尔克 卫化工物流"）收到中海壳牌石油化工有限公司出具的《成交通知书》，在参加中海壳牌石油化工有限 公司的采购响应中，经评审小组审定，确定密尔克卫化工物流为"标的11苯乙烯SM公路运输东莞区域 200公里以内""标的12中的MTBE公路运输""标的2粤东区域道路运输+样品运输""标的8集装罐海运、公 路运输+江阴罐区的散装液体PPG产品道路运输""标的13辛醇公路运输""标的14乙二醇/二乙二醇公路运 输"和"标的15PPG广东省外公路运输"的成交方。合同金额：约人民币1.80亿元，具体金额将根据实际情 况确定。 ...

密尔克卫公告，全资子公司上海密尔克卫化工物流有限公司收到中海壳牌石油化工有限公司出具的《成 交通知书》，在参加中海壳牌石油化工有限公司的采购响应中，密尔克卫化工物流被确定为多个标的的 成交方。项目名称为2025+公路运输及多式联运物流服务项目，合同金额约人民币1.8亿元，具体金额将 根据实际情况确定。该项目预计会对公司未来经营业绩产生积极影响，进一步巩固和提升了公司的影响 力。 ...

Core Viewpoint - The announcement from Milkwell (603713) indicates a planned reduction in shareholding by major shareholders through block trading, which may impact the company's stock performance in the short term [1] Group 1: Shareholder Reduction Plan - Major shareholders, including Yanruo Investment, Yanzhi Investment, and Yanhui Investment, plan to reduce their holdings by a total of up to 1,436,300 shares, 976,500 shares, and 750,300 shares respectively, which represents 0.91%, 0.62%, and 0.47% of the company's total share capital [1] - The total planned reduction amounts to no more than 2.00% of the company's total share capital [1] Group 2: Implementation Timeline - The reduction plan will be executed within three months following the 15 trading days after the announcement date [1] - During the implementation period, the shareholders have cumulatively reduced their holdings by 1,429,300 shares, 971,700 shares, and 746,600 shares, totaling 1.99% of the current total share capital [1]

Group 1 - The company Milkyway announced a share reduction plan completed on September 5, 2025, with three investment entities reducing their holdings by approximately 1.43 million shares, 970,000 shares, and 750,000 shares, totaling 1.99% of the company's current total share capital [1] - For the first half of 2025, Milkyway's revenue composition was as follows: logistics accounted for 51.39%, trading for 48.08%, and other businesses for 0.53% [1] - As of the report, Milkyway's market capitalization stood at 10.4 billion yuan [1]

| | | 密尔克卫智能供应链服务集团股份有限公司 股东大宗交易减持股份结果公告 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： 股东持股的基本情况 在本次减持股份计划实施前，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"、"密尔克卫"）股东上海演若投资合伙企业（有限合伙）（以 下简称"演若投资"）、上海演智投资合伙企业（有限合伙）（以下简称"演智投 资"）、上海演惠投资合伙企业（有限合伙）（以下简称"演惠投资"）分别持有公 司股份 5,945,165 股、4,029,921 股、3,792,633 股，分别占公司当时总股本的 3.76%、 2.55%、2.40%。 2025 年 5 月 14 日，公司披露了《密尔克卫智能供应链服务集团股份有限公 司股东大宗交易减持股份计划公告》（公告编号：2025-052），公司股东演若投资、 演智投资、演惠投资计划通过大宗交易方式分别减持公司股份数量不超过 1,436,300 股、976,500 股、750,300 股，即分别减持不超过公司总股本的 0 ...

格隆汇9月5日丨密尔克卫(603713.SH)公布，在减持计划实施期间，演若投资、演智投资、演惠投资分 别通过大宗交易方式累计减持公司股份1,429,300股、971,700股、746,600股，合计占公司当前总股本的 1.99%。公司股东演若投资、演智投资、演惠投资系员工持股平台，股份来源为公司IPO前取得，其一 致行动人公司控股股东、实际控制人陈银河先生及其直系亲属持有的上述合伙企业财产份额不参与本次 减持计划。 ...

Market Overview - On August 28, the logistics sector rose by 1.1%, with YTO Express leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Individual Stock Performance - YTO Express (600233) closed at 18.25, with a gain of 6.17% and a trading volume of 378,700 shares, amounting to a transaction value of 672 million [1] - Milkway (603713) closed at 67.01, up 5.76%, with a trading volume of 39,900 shares and a transaction value of 257 million [1] - Other notable performers include: - Jiayou International (603871) at 12.31, up 3.62% [1] - Jianfa Co. (600153) at 11.69, up 2.81% [1] - SF Express (002352) at 48.40, up 1.02% [1] Fund Flow Analysis - The logistics sector experienced a net outflow of 319 million from institutional investors, while retail investors saw a net inflow of 291 million [2] - Notable net inflows from retail investors include: - YTO Express with a net inflow of 29.22 million [3] - Milkway with a net inflow of 23.49 million [3] - Conversely, significant net outflows from institutional investors were observed in: - Milkway with a net outflow of 25.99 million [3] - SF Express with a net outflow of 22.76 million [3]