Core Viewpoint - Xiamen Port Authority reported a mixed financial performance for the third quarter of 2025, with revenue growth but a decline in net profit [1] Financial Performance Summary - In Q3 2025, the company achieved an operating revenue of 6.07 billion yuan, representing a year-on-year increase of 7.81% [1] - The net profit attributable to shareholders was 54.69 million yuan, showing a year-on-year decrease of 10.26% [1] - Basic earnings per share for Q3 2025 were 0.0737 yuan [1] Year-to-Date Performance Summary - For the first three quarters of 2025, the company reported total operating revenue of 16.612 billion yuan, which is a year-on-year decline of 7.67% [1] - The net profit attributable to shareholders for the first three quarters was 196 million yuan, reflecting a year-on-year increase of 3.12% [1] - Basic earnings per share for the first three quarters were 0.264 yuan [1]

Group 1 - Xiamen Port Authority reported a revenue of approximately 16.612 billion yuan for the first three quarters of 2025, a year-on-year decrease of 7.67% [1] - The net profit attributable to shareholders of the listed company was approximately 196 million yuan, reflecting a year-on-year increase of 3.12% [1] - Basic earnings per share were 0.264 yuan, which is an increase of 3.13% year-on-year [1] Group 2 - As of the report date, the market capitalization of Xiamen Port Authority is 7.9 billion yuan [2]

Financial Performance - The company's operating revenue for Q3 2025 was ¥6,070,357,323.03, representing a year-on-year increase of 7.81%[3] - The net profit attributable to shareholders for Q3 2025 was ¥54,692,266.92, a decrease of 10.26% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 119.65% year-on-year to ¥43,974,037.10 in Q3 2025[3] - The basic earnings per share for Q3 2025 were ¥0.0737, down 10.34% year-on-year[3] - The weighted average return on equity for Q3 2025 was 1.08%, a decrease of 0.15 percentage points compared to the previous year[3] - Total operating revenue for the current period was ¥16,611,941,326.03, a decrease of 7.66% from ¥17,992,514,131.13 in the previous period[16] - The net profit attributable to the parent company increased to ¥2,861,111,559.70, compared to ¥2,765,619,593.35 in the previous period, reflecting a growth of 3.46%[14] - The total comprehensive income attributable to the parent company is CNY 195,724,436.13, compared to CNY 188,902,895.84 in the previous period, showing an increase of approximately 3.4%[17] - Basic and diluted earnings per share increased to CNY 0.2640 from CNY 0.2560, reflecting a growth of about 3.1%[17] - The total profit for the current period is CNY 327,708,361.88, down from CNY 345,527,701.04, indicating a decline of approximately 5.5%[17] Assets and Liabilities - The total assets at the end of Q3 2025 were ¥13,496,731,607.28, reflecting a 3.51% increase from the end of the previous year[3] - The equity attributable to shareholders at the end of Q3 2025 was ¥5,073,850,034.39, up 2.30% from the previous year-end[3] - Current assets totaled ¥6,473,960,620.81, an increase of 8.15% from ¥5,986,727,336.28 at the beginning of the period[14] - Total liabilities reached ¥6,956,198,193.40, an increase of 4.77% from ¥6,639,454,109.52[15] - The company's total assets amounted to ¥13,496,731,607.28, up from ¥13,039,430,227.06, indicating a growth of 3.52%[15] - Non-current assets decreased slightly to ¥7,022,770,986.47 from ¥7,052,702,890.78, a decline of 0.42%[14] Cash Flow - The net cash flow from operating activities for the year-to-date period decreased by 291.06% to -¥315,527,919.02, primarily due to an increase in inventory[6] - The net cash flow from operating activities is negative at CNY -315,527,919.02, compared to a positive CNY 165,147,815.11 in the previous period[19] - Cash flow from investment activities increased to CNY 619,177,743.78, a significant improvement from CNY -32,997,612.74 in the previous period[19] - Cash flow from financing activities generated a net inflow of CNY 121,842,966.94, down from CNY 398,894,443.98 in the previous period[20] - The cash and cash equivalents at the end of the period amounted to CNY 800,913,536.51, an increase from CNY 703,453,982.97 in the previous period[20] - Cash and cash equivalents rose significantly to ¥865,475,863.86 from ¥455,199,810.25, marking an increase of 90.00%[14] Shareholder Information - The total number of common shareholders at the end of the reporting period is 41,818[8] - Xiamen International Port Development Co., Ltd. holds 52.16% of shares, making it the controlling shareholder with 386,907,522 shares[8] - The top ten shareholders do not have any associated relationships with the controlling shareholder[8] - The company has not disclosed any changes in the top ten shareholders due to securities lending or borrowing[9] Restructuring and Corporate Actions - The company plans to issue shares and pay cash to acquire controlling interest in Xiamen Container Terminal Group Co., Ltd. as part of a major asset restructuring[9] - The restructuring plan has received preliminary approval from the Fujian Provincial Government's State-owned Assets Supervision and Administration Commission[10] - The company has completed the audit, evaluation, and filing work related to the restructuring[10] - The company’s stock was suspended from trading on March 11, 2025, and resumed on March 18, 2025, after the announcement of the restructuring plan[9] - The company held its first extraordinary general meeting on September 12, 2025, to approve the restructuring proposal[11] - The Shenzhen Stock Exchange has accepted the application for the issuance of shares and cash payment for asset acquisition[11] Other Financial Metrics - Non-recurring gains and losses for Q3 2025 totaled ¥10,718,229.82, with significant contributions from asset disposal gains and government subsidies[4] - The company reported a significant reduction in research and development expenses to ¥1,370,686.24, down 79.54% from ¥6,692,874.35 in the previous period[16] - The company reported a decrease in other comprehensive income, with a net amount of CNY -86,895.41 compared to CNY -991,605.27 in the previous period[17] - The company reported a significant increase in gross profit year-on-year, contributing to the rise in net profit after deducting non-recurring items[6] - Inventory increased to ¥3,154,706,143.88, up 34.25% from ¥2,349,235,342.12[14]

Core Viewpoint - Xiamen Port Authority plans to acquire 70% stake in Xiamen Container Terminal Group from its controlling shareholder for a total transaction price of 617,796.35 million yuan [1] Group 1: Transaction Details - The acquisition will be financed through a combination of share issuance and cash payment, with 525,126.90 million yuan paid in shares and 92,669.45 million yuan in cash [1] - The company intends to issue up to 796,854,166 shares at a price of 6.59 yuan per share to raise matching funds not exceeding 350,000.00 million yuan [1] Group 2: Fund Utilization - The raised funds will be allocated for the Xiamen multi-modal transport smart logistics center project, upgrading terminal equipment, Xiang'an port area berth project, cash payment for the acquisition, and to supplement working capital [1]

Core Viewpoint - Xiamen Port Development Co., Ltd. has seen a significant increase in stock price, rising by 5.27% to 10.78 CNY per share, with a trading volume of 643 million CNY and a turnover rate of 8.26%, resulting in a total market capitalization of 7.997 billion CNY [1] Company Overview - Xiamen Port Development Co., Ltd. is located at 31 Donggang North Road, Huli District, Xiamen, Fujian Province, established on April 21, 1999, and listed on April 29, 1999 [1] - The company's main business includes handling and related logistics services for bulk cargo, commodity trading, and building materials sales [1] - Revenue composition: Comprehensive supply chain business accounts for 89.43%, port supporting services 5.65%, terminal handling and storage 4.59%, and others 0.33% [1] Fund Holdings - One fund under Dongfang Fund has a significant holding in Xiamen Port Development, specifically the Dongfang Quantitative Growth Flexible Allocation Mixed A Fund (005616), which held 42,700 shares, representing 0.42% of the fund's net value, ranking as the third-largest holding [2] - The fund has achieved a year-to-date return of 35.16%, ranking 1987 out of 8154 in its category, and a one-year return of 39.46%, ranking 1323 out of 8025 [2] - The fund manager, Wang Huaixun, has been in position for 3 years and 162 days, with a total asset scale of 228 million CNY, achieving a best return of 54.17% and a worst return of 1.22% during his tenure [2]

福建中兴资产评估房地产土地估价有限责任公司关于 深圳证券交易所《关于厦门港务发展股份有限公司发行 股份购买资产并募集配套资金申请的审核问询函》中有 关评估事项的核查意见 深圳证券交易所上市审核中心： 贵所于近期下发的《关于厦门港务发展股份有限公司发行股份购买资产并募集配 套资金申请的审核问询函》（审核函〔2025〕130016 号，以下简称"问询函"）已收 悉。根据问询函的相关要求，厦门港务发展股份有限公司（以下简称"上市公司"或 "厦门港务"）会同本次交易相关方及中介机构对问询函所列问题进行了认真分析与核 查，福建中兴资产评估房地产土地估价有限责任公司作为本次交易的评估机构，就公 司对贵所所提问题的回复进行了认真核查，并就资产评估有关问题出具了本核查意见， 现将具体情况汇报如下： 1 | | 2. 关于本次交易评估情况 3 | | --- | --- | | 问题 | | 3 749,307.60 万元；经采用资产基础法评估后，股东全部权益的评估值为 882,566.21 万 元，评估增值 133,258.61 万元，增值率 17.78%；经采用收益法评估后，股东全部权益 的评估值为 878,050.79 ...

中国国际金融股份有限公司 关于 深圳证券交易所 《关于厦门港务发展股份有限公司发行股份购买资产 并募集配套资金申请的审核问询函》的回复之 核查意见 二〇二五年十月 独立财务顾问 深圳证券交易所上市审核中心： 厦门港务发展股份有限公司（以下简称"上市公司"或"厦门港务"）于 2025 年 9 月 26 日收到深圳证券交易所上市审核中心（以下简称"深交所"）出具的《关于厦 门港务发展股份有限公司发行股份购买资产并募集配套资金申请的审核问询函》（审核 函〔2025〕130016 号，以下简称"问询函"）。中国国际金融股份有限公司（以下简 称"独立财务顾问"或"中金公司"）作为厦门港务发行股份及支付现金购买资产并 募集配套资金暨关联交易（以下简称"本次交易"）的独立财务顾问，根据问询函的 相关要求，会同上市公司及相关中介机构，对有关问题进行了认真分析与核查，现就 相关事项出具本核查意见，请贵所予以审核。 如无特别说明，本核查意见中的简称或名词释义与重组报告书所定义的词语或简 称具有相同的含义。在本核查意见中若合计数与各分项数值相加之和在尾数上存在差 异，均为四舍五入所致。 1 | | | | 问题 | 1. | 关于 ...

证券代码：000905 证券简称：厦门港务 上市地点：深圳证券交易所 厦门港务发展股份有限公司 关于深圳证券交易所 《关于厦门港务发展股份有限公司发行股份购 买资产并募集配套资金申请的审核问询函》的 回复 独立财务顾问 二〇二五年十月 厦门港务发展股份有限公司发行股份购买资产并募集配套资金申请的审核问询函的回复 深圳证券交易所上市审核中心： 厦门港务发展股份有限公司（以下简称"公司""上市公司"或"厦门港务"） 于 2025 年 9 月 26 日收到深圳证券交易所上市审核中心（以下简称"深交所"）出具 的《关于厦门港务发展股份有限公司发行股份购买资产并募集配套资金申请的审核问 询函》（审核函〔2025〕130016 号，以下简称"问询函"）。公司及相关中介机构就问 询函所提问题进行了认真讨论分析，并按照要求在《厦门港务发展股份有限公司发行 股份及支付现金购买资产并募集配套资金暨关联交易报告书（草案）》（以下简称"重 组报告书"）中进行了补充披露，现将相关回复说明如下。 如无特别说明，本问询函回复中的简称或名词释义与重组报告书所定义的词语或 简称具有相同的含义。在本问询函回复中若合计数与各分项数值相加之和在尾数 ...

北京市金杜律师事务所 关于厦门港务发展股份有限公司发行股份及支付现金 购买资产并募集配套资金暨关联交易的 补充法律意见书（二） 致：厦门港务发展股份有限公司 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司重大资产重组 办法》《上市公司证券发行管理办法》《律师事务所从事证券法律业务管理办法》和《律 师事务所证券法律业务执业规则（试行）》等法律、行政法规、规范性文件和中国证券 监督管理委员会（以下简称中国证监会）的有关规定，北京市金杜律师事务所（以下简 称本所或金杜）接受厦门港务发展股份有限公司（以下简称厦门港务或上市公司）的委 托，作为专项法律顾问，就厦门港务发行股份及支付现金购买资产并募集配套资金（以 下简称本次交易或本次重组）所涉及的相关法律事项，于 2025 年 8 月 5 日出具《北京 市金杜律师事务所关于厦门港务发展股份有限公司发行股份及支付现金购买资产并募 集配套资金暨关联交易的法律意见书》（以下简称《法律意见书》），并于 2025 年 9 月 12 日出具《北京市金杜律师事务所关于厦门港务发展股份有限公司发行股份及支付现 金购买资产并募集配套资金暨关联交易的补充法律意见书》（以下简 ...

中国国际金融股份有限公司 关于 厦门港务发展股份有限公司 发行股份及支付现金购买资产并募集配套资金 暨关联交易 （二）本独立财务顾问报告是在假设本次交易各方当事人均全面和及时履行本次 交易相关协议和声明或承诺的基础上出具，若上述假设不成立，本独立财务顾问不承 担由此引起的任何风险责任； 之 独立财务顾问报告（修订稿） 独立财务顾问 二〇二五年十月 中国国际金融股份有限公司 独立财务顾问报告 独立财务顾问声明和承诺 一、独立财务顾问声明 （一）本独立财务顾问报告所依据的文件和材料由相关各方提供，相关各方对所 提供文件及资料的真实性、准确性和完整性负责，并保证该等信息不存在虚假记载、 误导性陈述或者重大遗漏。本独立财务顾问不承担由此引起的任何风险责任； （三）对于对本独立财务顾问报告至关重要而又无法得到独立证据支持或需要法 律、审计、评估等专业知识来识别的事实，本独立财务顾问主要依据有关政府部门、 律师事务所、会计师事务所、资产评估机构及其他有关单位出具的意见、说明及其他 文件做出判断； （四）如本独立财务顾问报告中结论性意见利用其他证券服务机构专业意见的， 独立财务顾问已进行了必要的审慎核查。除上述核查责任之外 ...