证券代码：000905 证券简称：厦门港务 公告编号：2025-60 厦门港务发展股份有限公司 关于延期回复《关于厦门港务发展股份有限公司发行股份购 根据深圳证券交易所的进一步审核意见，公司需对《审核问询函》回复文件 进行修改、补充，因进一步修改、补充所需工作时间较长，公司已向深圳证券交 易所申请延期。公司将自《审核问询函》回复期限届满之日起延期不超过 30 日 向深圳证券交易所提交修订后的《审核问询函》回复文件并及时履行信息披露义 务。 本次交易尚需深圳证券交易所审核通过以及中国证券监督管理委员会同意 注册后方可实施。本次交易最终能否通过上述审核和注册，以及最终通过审核和 1 注册的时间均存在不确定性。公司将根据本次交易的进展情况，严格按照有关法 律法规的规定及时履行信息披露义务。本次交易有关信息均以公司在指定信息披 露媒体发布的公告为准，敬请广大投资者及时关注公司后续公告并注意投资风险。 特此公告。 买资产并募集配套资金申请的审核问询函》的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 厦门港务发展股份有限公司（以下简称公司）拟通过发行股份及支付现金 ...

Group 1 - The direct flight route between Haikou and Nha Trang, Vietnam, has officially opened, providing more cross-border travel options for passengers and enhancing economic, tourism, and cultural exchanges between Hainan Free Trade Port and Southeast Asia [1][3] - The route is operated by Hainan Airlines using Boeing 737 aircraft, with flights scheduled three times a week on Mondays, Wednesdays, and Fridays [3] - The outbound flight HU715 departs Haikou at 22:45 Beijing time and arrives in Nha Trang at 23:45 local time, while the return flight HU716 departs Nha Trang at 01:10 local time and arrives back in Haikou at 04:10 Beijing time [3] Group 2 - Haikou Meilan International Airport is actively working on opening and restoring international routes, including flights to Seoul, Ho Chi Minh City, and Macau [3] - Additionally, the airport is increasing the frequency of flights to Kuala Lumpur, with the route set to operate daily starting December 10, after an interim period of increased frequency from December 1 to 9 [3]

Core Viewpoint - Xiamen Port Development Co., Ltd. is a leading comprehensive logistics service provider in the Xiamen port area, focusing on bulk cargo handling, logistics services, and commodity trading, with significant growth potential in cross-border e-commerce logistics due to its strategic location and partnerships [2][3]. Company Overview - The company is located at 31 Donggang North Road, Huli District, Xiamen, Fujian Province, and was established on April 21, 1999, with its shares listed on April 29, 1999 [3][7]. - Main business segments include comprehensive supply chain services (89.43%), port support services (5.65%), and cargo handling and storage (4.59%) [7]. - As of September 30, 2025, the company reported a revenue of 16.612 billion yuan, a year-on-year decrease of 7.67%, while net profit attributable to shareholders was 196 million yuan, reflecting a year-on-year increase of 3.12% [8]. Market Position and Strategic Initiatives - The company operates the largest bulk cargo handling terminal in Fujian and is the only provider of domestic container handling services at Xiamen Port, with a strong international shipping agency presence [3]. - Xiamen Port has established friendly port relationships with 11 ports globally, enhancing its role in the "Belt and Road" initiative and the Maritime Silk Road [3]. - The company plans to leverage its geographical advantages to accelerate the development of competitive cross-border e-commerce logistics channels and strengthen collaborations with various e-commerce platforms [5]. Financial and Trading Insights - On November 24, the stock price of Xiamen Port Development fell by 0.88%, with a trading volume of 357 million yuan and a turnover rate of 4.77%, bringing the total market capitalization to 7.485 billion yuan [1]. - Recent trading data indicates a net outflow of 50.10 million yuan from main funds, with a continuous reduction in holdings over the past three days [4][5]. - The average trading cost of the stock is 11.06 yuan, with the current price approaching a resistance level of 10.31 yuan, indicating potential for upward movement if this level is surpassed [6].

Core Viewpoint - Xiamen Port Development Co., Ltd. has experienced a significant stock price fluctuation, with a year-to-date increase of 41.42% but a recent decline of 21.25% over the last five trading days [1] Group 1: Stock Performance - As of November 24, Xiamen Port's stock price was 9.97 CNY per share, with a market capitalization of 7.396 billion CNY [1] - The stock has seen a trading volume of 1.11 billion CNY and a turnover rate of 1.47% [1] - Year-to-date, the stock has increased by 41.42%, but it has decreased by 21.25% in the last five trading days and 4.13% in the last 20 days [1] Group 2: Financial Performance - For the period from January to September 2025, Xiamen Port reported a revenue of 16.612 billion CNY, a year-on-year decrease of 7.67%, while the net profit attributable to shareholders was 196 million CNY, reflecting a year-on-year increase of 3.12% [2] - The company's main business revenue composition includes 89.43% from comprehensive supply chain services, 5.65% from port support services, and 4.59% from terminal loading and storage [2] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Xiamen Port was 41,800, a decrease of 20.04% from the previous period [2] - The average circulating shares per person increased by 25.06% to 17,738 shares [2] - The company has distributed a total of 1.004 billion CNY in dividends since its A-share listing, with 240 million CNY distributed in the last three years [3]

Core Points - The shipping and port sector experienced a decline of 2.14% on November 21, with HNA Technology leading the drop [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Sector Performance - HNA Technology (600751) closed at 3.94, down 9.84% with a trading volume of 1.0427 million shares and a turnover of 427 million yuan [1] - Xiamen Port (000905) closed at 10.18, down 7.45% with a trading volume of 536,200 shares and a turnover of 559 million yuan [1] - Phoenix Shipping (000520) closed at 4.35, down 5.64% with a trading volume of 296,900 shares and a turnover of 132 million yuan [1] - Other notable declines include Antong Holdings (600179) down 5.54%, Chongqing Port (600279) down 5.29%, and Ningbo Shipping (600798) down 4.96% [1] Capital Flow - The shipping and port sector saw a net outflow of 751 million yuan from main funds, while retail funds had a net inflow of 483 million yuan [1] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors showed interest [1] Individual Stock Capital Flow - North Bay Port (000582) had a main fund net inflow of 25.71 million yuan, while retail funds saw a net outflow of 23.22 million yuan [2] - COSCO Shipping Energy (600026) experienced a main fund net inflow of 18.80 million yuan, but retail funds had a net outflow of 25.41 million yuan [2] - Shanghai Port Group (600018) had a main fund net inflow of 5.09 million yuan, with retail funds also showing a net outflow of 5.47 million yuan [2]

Core Viewpoint - Xiamen Port Development Co., Ltd. experienced a significant drop in stock price, falling by 7.45% on November 21, with a trading volume of 559 million yuan and a market capitalization of 7.552 billion yuan [1] Company Overview - The company primarily engages in the handling of bulk cargo at terminals, comprehensive logistics services, and commodity trading, making it the largest comprehensive logistics service provider in the Xiamen port area [2] - It possesses scarce resources such as bulk cargo terminals and a complete logistics service chain, facilitating effective intermodal logistics services [2][3] - The company operates the largest bulk cargo handling terminal in Fujian province and the only domestic container handling terminal in Xiamen port, along with the largest container transport fleet in Fujian [3] Business Performance - For the period from January to September 2025, the company reported a revenue of 16.612 billion yuan, a year-on-year decrease of 7.67%, while the net profit attributable to shareholders was 196 million yuan, reflecting a year-on-year increase of 3.12% [8] - The main business revenue composition includes 89.43% from comprehensive supply chain services, 5.65% from port support services, and 4.59% from terminal handling and storage [7] Market Position and Strategy - The company is strategically located in the core area of the Maritime Silk Road and has established friendly port relationships with 11 ports, including Port Klang in Malaysia and Miami Port in the USA, since the Belt and Road Initiative [3] - The company plans to leverage its geographical advantages to accelerate the construction of competitive cross-border e-commerce logistics channels and enhance cooperation with various cross-border e-commerce platforms [5] Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders was 41,800, a decrease of 20.04% from the previous period, while the average circulating shares per person increased by 25.06% to 17,738 shares [7] - The third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 5.931 million shares, an increase of 2.1053 million shares compared to the previous period [8]

Core Viewpoint - The report from Huachuang Securities indicates that the highway sector is expected to maintain resilience in 2026, with high dividend configurations being a preferred investment direction. The port industry is anticipated to shift from a single container-driven growth model to a dual-wheel structure of stable container growth (5%-8%) and a recovery in bulk cargo (2%-5%) by 2026, with stable pricing expected. There are strategic layout opportunities for leading companies in the bulk supply chain that focus on dividends and returning to growth expectations in the coming year [1]. Highway Sector - The highway sector is viewed as a preferred option for stable asset allocation due to low valuations and high dividends, with expected dividend yields around 5% for leading highway companies in 2026. Notable companies include Sichuan Chengyu (5.6%), Shandong Highway (5.0%), and Anhui Wantong Highway (5.0%), with higher yields for H-shares [2]. - The outlook for 2026 suggests strong performance driven by stable volume and pricing, alongside significant cost reduction opportunities. Key factors include potential optimization of toll policies and a favorable interest rate environment that could alleviate operational pressures for highway companies [2]. - High dividend characteristics are expected to remain stable in 2026, with clear three-year return plans from leading companies like Sichuan Chengyu and Wantong Highway [2]. Port Sector - The port sector is entering a strategic value era, transitioning from a perception of cyclical capacity assets to being recognized as global supply chain security hubs. This shift is driven by geopolitical factors and the need for strategic asset control [3]. - The industry is expected to see stable throughput and pricing in 2026, with a dual growth model of container stability and bulk cargo recovery. The average dividend payout ratio is projected to be 37.46%, indicating significant potential for increases [3]. Railway Sector - Passenger transport is expected to see steady growth, with flexible pricing mechanisms in place. Freight transport is also showing signs of improvement, particularly in coal and other cargo types [4][5]. Bulk Supply Chain - The bulk supply chain is poised for a new growth phase in 2026, with companies like Xiamen Xiangyu leading the way in transformation logic focused on profit margin enhancement and investor returns. The operational environment is recovering, with strong performance trends evident since 2025 [6][7]. - Strategic layout opportunities exist for leading companies in the bulk supply chain that emphasize dividends and growth expectations [7]. Investment Recommendations - The company continues to favor A/H share transportation assets, highlighting the importance of industry logic and valuation elasticity. Key recommendations include Sichuan Chengyu and Wantong Highway for their stable growth and high dividends, as well as other notable companies in the highway and port sectors [8].

Core Insights - The shipping and port sector experienced a decline of 1.97% on November 18, with Haitong Development leading the drop at -10.02% [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - Haitong Development (603162) closed at 11.77, down 10.02% with a trading volume of 512,000 shares and a transaction value of 621 million yuan [1] - Xiamen Port Authority (000905) closed at 11.58, down 8.53% with a trading volume of 1,003,100 shares and a transaction value of 1.207 billion yuan [1] - Other notable declines include: - Guohang Ocean (920571) down 6.37% to 10.44 - Antong Holdings (600179) down 5.41% to 4.55 - HNA Technology (600751) down 5.15% to 4.60 [1] Capital Flow - The shipping and port sector saw a net outflow of 481 million yuan from institutional investors, while retail investors contributed a net inflow of 219 million yuan [1] - Notable capital flows include: - GIGIO9 with a net inflow of 50.12 million yuan from institutional investors [2] - Haixia Co. (002320) with a net inflow of 37.15 million yuan from institutional investors [2] - Saltian Port (000088) with a net inflow of 7.46 million yuan from institutional investors [2]

证券日报网讯厦门港务（000905）11月17日在互动平台回答投资者提问时表示，公司于10月24日披露的 2025年第三季度报告中披露9月末的股东人数为41818户。 ...

Group 1 - The Fujian sector continues to strengthen, with stocks such as Haixia Environmental Protection and Rishang Group hitting the daily limit [1] - Pingtan Development has achieved two consecutive trading limit increases, while Haixia Innovation has surged over 14% [1] - Other companies including Lupu Information, China Wuyi, Xiamen XGMA, Annie Shares, Xiamen Port, and Xiamen Airport have also seen gains [1]