Market Overview - The shipping and port sector declined by 0.62% on October 22, with Haixia Co. leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Notable gainers in the shipping and port sector included: - Zhonggu Logistics (603565) with a closing price of 11.18, up 1.82% [1] - Tangshan Port (601000) at 4.00, up 1.01% [1] - COSCO Shipping Specialized (600428) at 7.21, up 0.84% [1] - Major decliners included: - Haixia Co. (002320) at 13.59, down 7.55% [2] - Antong Holdings (600179) at 4.29, down 6.94% [2] - Haitong Development (603162) at 10.63, down 6.01% [2] Trading Volume and Capital Flow - The shipping and port sector experienced a net outflow of 752 million yuan from institutional investors, while retail investors saw a net inflow of 708 million yuan [2][3] - The trading volume for Zhonggu Logistics was 177,100 shares, with a transaction value of 197 million yuan [1] Individual Stock Capital Flow - Zhonggu Logistics (603565) had a net inflow of 10.93 million yuan from retail investors, while institutional investors saw a net outflow of 54.53 million yuan [3] - COSCO Shipping Holdings (601866) had a net inflow of 73,040 yuan from retail investors, with a minor outflow from institutional investors [3]

Core Viewpoint - Xiamen Port Development Co., Ltd. experienced a decline of 4.48% in stock price on October 22, with a trading volume of 539 million yuan and a market capitalization of 7.114 billion yuan [1] Business Overview - The company primarily engages in three business segments: bulk cargo terminal loading and unloading, port comprehensive logistics services, and port trade [2] - The business model encompasses all aspects of cargo movement in and out of the port, forming a complete port comprehensive logistics service supply chain [3] - The company aims to deepen strategic integration around its port logistics core business, focusing on synergistic effects and expanding its operational capabilities [3] - As the largest comprehensive logistics service provider in the Xiamen port area, the company possesses scarce resources such as bulk cargo terminals and a complete logistics service system that integrates land, sea, air, and rail [3] Financial Performance - For the first half of 2025, the company reported operating revenue of 10.542 billion yuan, a year-on-year decrease of 14.72%, while net profit attributable to shareholders increased by 9.44% to 141 million yuan [7] - The revenue composition includes 89.43% from comprehensive supply chain services, 5.65% from port support services, and 4.59% from terminal loading and storage [7] Shareholder and Market Activity - As of June 30, 2025, the number of shareholders increased by 8.32% to 52,300, with an average of 14,184 circulating shares per person, a decrease of 7.68% [7] - The stock has seen a net outflow of 40.34 million yuan from major investors today, with a continuous reduction in holdings over the past three days [4][5] Technical Analysis - The average trading cost of the stock is 8.97 yuan, with current price action between resistance at 10.30 yuan and support at 8.45 yuan, suggesting potential for short-term trading strategies [6]

证券日报网讯 10月21日晚间，厦门港务发布公告称，公司及本公司控股子公司不存在为其他第三方提 供担保的情形，无逾期担保，无涉及诉讼的担保，亦无因担保事项被判决败诉而应承担的损失。 （文章来源：证券日报） ...

Core Insights - The shipping and port sector experienced a rise of 0.48% on October 21, with Ningbo Marine leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Sector Performance - Ningbo Marine (600798) closed at 4.22, with a gain of 3.18% and a trading volume of 1.0529 million shares, amounting to a transaction value of 438 million yuan [1] - Other notable performers include: - Haixia Co. (002320) at 14.70, up 2.80% with a volume of 2.0146 million shares [1] - COSCO Shipping Development (601866) at 2.65, up 2.32% with a volume of 1.3505 million shares [1] - Ningbo Ocean (601022) at 10.66, up 1.91% with a volume of 330,700 shares [1] - Liaoning Port (601880) at 1.80, up 1.69% with a volume of 1.5551 million shares [1] Capital Flow - The shipping and port sector saw a net outflow of 238 million yuan from institutional funds and 282 million yuan from speculative funds, while retail investors contributed a net inflow of 520 million yuan [3]

特别风险提示： 证券代码：000905 证券简称：厦门港务 公告编号：2025-55 厦门港务发展股份有限公司关于本公司及 控股子公司 2025 年度为控股子公司 提供担保进展情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准 确和完整，没有虚假记载、误导性陈述或重大遗漏。 2．本公司控股子公司中国厦门外轮代理有限公司（以 下简称外轮代理）与福建中外运船务代理有限公司厦门分公 司签订《履约保函》，为外轮代理的全资子公司厦门外代国 际货运有限公司定期结算费用提供连带责任担保，担保总额 人民币 200 万元。 提供上述担保后，本公司对港务贸易及其全资子公司、 本公司控股子公司外轮代理对其全资子公司厦门外代国际 货运有限公司的担保情况如下： 厦门港务发展股份有限公司及其控股子公司对外担保 总额（均为本公司对子公司的担保或子公司对子公司的担保， 下同）超过最近一期经审计净资产 100%；本次进展公告涉 及对资产负债率超过 70%的控股子公司提供担保；本次担保 后，公司对外担保超过公司最近一期经审计净资产 50%；本 次担保在年度担保预计额度范围内，无新增担保；本次担保 不涉及对合并报表外单位的担保。敬请投资 ...

Core Viewpoint - Xiamen Port is undergoing significant transformation towards becoming a green and intelligent port, enhancing its operational efficiency and expanding its influence in international trade [2][10]. Group 1: Historical Context and Development - Xiamen Port has a rich history as a trade hub, evolving from a military port in the Yuan Dynasty to a major international trading port by the Qing Dynasty, engaging with over 30 countries [2]. - The port's modernization began with tax and profit-sharing reforms, which allowed it to retain earnings for reinvestment, leading to substantial profit growth from 20 million yuan in the first year to over 700 million yuan in subsequent years [5][4]. Group 2: Current Performance and Capacity - In 2024, Xiamen Port is projected to handle 12.25 million TEUs, ranking 7th among coastal container ports in China and 14th globally [2]. - The port has established the "Silk Road Maritime" service brand, with 148 designated routes reaching 150 ports in 48 countries, achieving a container throughput of over 24.8 million TEUs [7]. Group 3: Corporate Structure and Strategic Moves - Xiamen Port is the first port enterprise in China to separate government and enterprise functions, enhancing operational efficiency and service levels through market-oriented practices [6]. - A significant asset restructuring is underway, where Xiamen Port intends to acquire 70% of Xiamen Container Terminal Group for approximately 6.178 billion yuan, aimed at improving its business structure and profitability [8][9]. Group 4: Technological and Environmental Initiatives - The port is embracing digital transformation with initiatives like a smart logistics platform that enhances operational efficiency through electronic documentation and blockchain technology [10][11]. - Xiamen Port is committed to green initiatives, investing over 100 million yuan in smart and green port construction, including the acquisition of electric vehicles and renewable energy installations [12].

Core Insights - The shipping and port sector experienced a decline of 0.29% on October 17, with Lianyungang leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Notable gainers in the shipping and port sector included: - Haitong Development (603162) with a closing price of 11.22, up 10.00% [1] - Xiamen Port Authority (000905) at 9.36, up 9.99% [1] - Strait Shares (002320) at 14.00, up 9.98% [1] - Major decliners included: - Lianyungang (601008) at 5.86, down 4.09% [2] - COSCO Shipping Energy (600026) at 12.12, down 3.19% [2] - Ningbo Shipping (600798) at 4.10, down 2.84% [2] Capital Flow - The shipping and port sector saw a net outflow of 236 million yuan from institutional investors, while retail investors contributed a net inflow of 516 million yuan [2][3] - Specific stock capital flows included: - Xiamen Port Authority (000905) with a net inflow of 166 million yuan from institutional investors [3] - Strait Shares (002320) with a net inflow of 87 million yuan from institutional investors [3] - COSCO Shipping Holdings (601919) with a net inflow of 75 million yuan from institutional investors [3]

Group 1 - Several companies, including Haixia Innovation, Pingtan Development, and Haitong Development, reached their daily limit increase in stock prices [1] - Xiamen Port Authority and Fujian Jinsen also approached their daily limit increase [1] - Other companies such as Zhangzhou Development, Fujian Cement, Air China Ocean, and Sanmu Group experienced significant price increases [1]

Core Viewpoint - The concept of the Fujian Free Trade Zone has seen a significant increase in stock prices, with several companies experiencing a surge in their stock performance amid market fluctuations [1] Group 1: Stock Performance - Companies such as Haixia Innovation, Pingtan Development, and Haitong Development reached their daily limit up [1] - Xiamen Port Authority and Fujian Jinsen also approached their daily limit up during trading [1] - Other companies like Zhangzhou Development, Fujian Cement, China National Offshore Oil Corporation, and Sanmu Group showed notable upward movement [1]

Core Viewpoint - The company has approved a profit distribution plan for the 2025 interim period, which includes a cash dividend distribution to shareholders based on the total share capital as of June 30, 2025 [1][2]. Group 1: Profit Distribution Plan - The company held its annual general meeting on April 18, 2025, where it approved the profit distribution plan for 2024 and the mid-term dividend plan for 2025 [1]. - The board of directors approved a cash dividend of 0.55 RMB per 10 shares, totaling approximately 40.8 million RMB, with no capital reserve conversion or bonus shares issued [2][4]. - The total share capital remained unchanged from the announcement of the distribution plan to its implementation [3]. Group 2: Implementation Details - The cash dividend distribution will be based on a total share capital of 741,809,597 shares as of June 30, 2025 [6]. - The record date for the dividend distribution is set for October 22, 2025, and the ex-dividend date is October 23, 2025 [6]. - The cash dividends will be directly credited to the shareholders' accounts through their custodial securities companies [8]. Group 3: Taxation and Dividend Distribution Method - The cash dividend will be subject to different tax rates based on the holding period of the shares, with specific rates outlined for different categories of investors [6]. - The company will bear the legal responsibilities if there are insufficient funds for the dividend distribution due to a decrease in shareholders' accounts during the application period [10]. Group 4: Consultation and Documentation - The company has provided contact information for inquiries regarding the dividend distribution [10]. - Relevant documents, including resolutions from the board meetings and the annual general meeting, are available for review [10].