证券代码：001965 证券简称：招商公路 公告编号：2025-57 招商局公路网络科技控股股份有限公司 2022 年度第三期中期票据兑付公告 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。 为保证招商局公路网络科技控股股份有限公司 2022 年度第三期中期票据 （债券简称：22 招商公路 MTN003，债券代码：102282248.IB）兑付工作的顺利 进行，现将有关事宜公告如下。 | 发行人名称 | 招商局公路网络科技控股股份有限公司 | | --- | --- | | 债项名称 | 招商局公路网络科技控股股份有限公司 | | | 2022 年度第三期中期票据 | | 债项简称 | 22 招商公路 MTN003 | | 债项代码 | 102282248.IB | | 发行总额(亿) | 15.5 | | 起息日 | 2022 年 10 月 14 日 | | 发行期限（年） | 3+N | | 债券余额(亿) | 15.5 | | 最新评级情况 | AAA | | 偿还类别 | 本息兑付 | | 本计息期债项利率 | 2.85% | | 本息兑付日 | 20 ...

Group 1 - The core point of the news is that a block trade of 360,000 shares of China Merchants Highway occurred on September 22, with a transaction value of 3.4776 million yuan and a transaction price of 9.66 yuan, executed by institutional special seats on both the buy and sell sides [2][3] - The closing price of China Merchants Highway on the same day was 9.66 yuan, reflecting a decrease of 0.82%, with a daily turnover rate of 0.38% and a total transaction amount of 253 million yuan, indicating a net outflow of 645,200 yuan in main funds [2] - Over the past five days, the stock has cumulatively decreased by 3.78%, while the total net inflow of funds during this period was 6.7534 million yuan [2] Group 2 - The latest margin financing balance for China Merchants Highway is 234 million yuan, which has increased by 11.8407 million yuan over the past five days, representing a growth rate of 5.33% [2]

Investment Rating - The report maintains a "Positive" investment rating for the transportation industry [13] Core Insights - The transportation industry is expected to see improvements in profitability across various sub-sectors in Q3 2025, driven by domestic demand recovery and resilient international demand [2][6][7][8][9][10][11][12] Summary by Sub-Sector Aviation - The aviation sector is experiencing subdued demand but is benefiting from reduced costs, leading to an overall improvement in profitability for Q3 2025. The international flight recovery remains strong, and oil prices have significantly decreased [6][19][24] Airports - Domestic airport traffic is recovering, with international flights also increasing. Revenue is expected to improve steadily, with key airports benefiting from both domestic and international demand growth [2][6][24][26] Express Delivery - The "anti-involution" policy is driving price increases in the express delivery sector, leading to improved profitability for e-commerce deliveries. However, operational costs are temporarily pressuring profit margins [2][6][28][30] Logistics - The logistics sector is stabilizing, with major players expected to see profit growth due to improved supply chain performance and resilient cross-border logistics profitability [2][6][7][31] Maritime Transport - The maritime sector is witnessing a divergence in profitability among different shipping types. While container shipping faces challenges, oil tanker profits are improving due to favorable market conditions [2][6][8][33][37] Ports - Port operations are expected to see improved profitability in bulk cargo handling, while container throughput remains resilient despite external pressures [2][6][9][39] Highways - Highway traffic is relatively stable, with a slight increase in profitability anticipated for Q3 2025, supported by steady freight and passenger traffic [2][10][41] Railways - Railway passenger and freight volumes are showing mixed trends, with a focus on opportunities arising from high-speed rail transformations. Overall, passenger transport is expected to grow, while freight transport is improving [2][11][43][44]

Group 1 - The company, China Merchants Highway Network Technology Holdings Co., Ltd., has convened its 33rd meeting of the third board of directors on July 15, 2025, where it approved the proposal for the registration and issuance of debt financing instruments [1] - The proposal has been submitted for approval at the company's second extraordinary general meeting of shareholders in 2025 [1] - The company has received a registration acceptance notice from the China Interbank Market Dealers Association, which is valid for two years from the date of the notice [1] Group 2 - During the registration validity period, the company can issue various debt financing products, including super short-term financing bonds, short-term financing bonds, medium-term notes, perpetual notes, asset-backed notes, and green debt financing instruments [2] - The company will determine the lead underwriter, issuance product, issuance scale, and issuance term for each issuance based on market conditions and funding needs [2] - The company is committed to timely information disclosure in accordance with relevant laws and regulations [2]

Group 1 - The core point of the article is that China Merchants Highway has received a registration notice for debt financing tools from the China Interbank Market Dealers Association [2] Group 2 - The registration notice is identified as No. DFI58 in the year 2025 [2] - This acceptance indicates a step forward in the company's financing capabilities [2] - The announcement was made on the evening of September 19 [2]

Group 1 - Honghe Technology plans to increase capital by 300 million yuan to its wholly-owned subsidiary Huangshi Honghe through debt-to-equity conversion, raising its registered capital from 700 million yuan to 1 billion yuan [1] - Huaxia Happiness has completed debt restructuring amounting to approximately 192.67 billion yuan, with a total of 24 billion yuan in overdue debts as of August 31 [1] - Chengyi Pharmaceutical's controlling shareholder plans to reduce its stake by up to 1.18%, amounting to 387,560 shares [1][2] Group 2 - Yuanwang Valley received a warning letter from the Shenzhen Securities Regulatory Bureau for failing to halt trading when its controlling shareholder's stake changed to a multiple of 5% [2] - Gongjin Co. received government subsidies of 8.9 million yuan, accounting for 11.13% of its latest audited net profit [3] - Maiwei Biotech's application for the listing of 9MW0813 injection has been accepted by the National Medical Products Administration [4] Group 3 - Jianfeng Group plans to repurchase shares worth between 20 million and 40 million yuan at a maximum price of 12.42 yuan per share [6] - Ankai Micro plans to invest 20 million yuan to acquire a 4% stake in Shiqi Future [7] - Pinming Technology's stock will continue to be suspended as it is actively pursuing a significant matter that may lead to a change in control [8] Group 4 - China Communications has signed new contracts worth 256.34 billion yuan from January to August, with domestic contracts totaling 206.05 billion yuan [18] - Round Express reported a revenue of 5.39 billion yuan in August, a year-on-year increase of 9.82% [38] - China Pacific Insurance's original insurance premium income reached 217.05 billion yuan from January to August, up 13.2% year-on-year [39] Group 5 - *ST Chuangxing's chairman is under investigation, and the general manager will act as the chairman during this period [40] - Fengshan Group signed a technical development contract with Tsinghua University for a project related to sodium-ion battery electrolytes [40] - Yongxin Optical stated that its optical components related to lithography machines account for less than 1% of its revenue [41] Group 6 - Tianyuan Dike's subsidiary received a government subsidy of 3.77 million yuan, representing 16.27% of its latest audited net profit [42] - Huaxiang Co. plans to issue convertible bonds to raise no more than 1.308 billion yuan for various projects [43] - Wolong Electric Drive reported that its robot-related products accounted for only 2.71% of total revenue in the first half of the year [44]

智通财经APP讯，招商公路(001965.SZ)公告，公司收到中国银行间市场交易商协会出具的《接受注册通 知书》，接受招商公路债务融资工具注册。招商公路债务融资工具注册自本通知书落款之日起2年内有 效，由招商银行股份有限公司等联席主承销。 ...

Group 1 - The company, China Merchants Highway (001965.SZ), has received a registration acceptance notice for its debt financing instruments from the National Association of Financial Market Institutional Investors [1] - The registration for the debt financing instruments is valid for two years from the date of the notice [1] - China Merchants Bank Co., Ltd. and other joint lead underwriters will be involved in the issuance [1]

Group 1 - The company has received a "Registration Acceptance Notice" from the China Interbank Market Dealers Association for debt financing instruments [1] - The registration quota is valid for two years from the date of the notice [1] - China Merchants Bank Co., Ltd. and other joint lead underwriters will manage the issuance [1] Group 2 - The company plans to issue bonds based on legal regulations, market conditions, and funding needs [1] - The company will fulfill its information disclosure obligations in a timely manner [1]

公司将根据相关法律法规和交易商协会的要求，结合资金需求和市场情况择 机发行，并将及时履行信息披露义务。 关于债务融资工具获准注册的公告 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。 招商局公路网络科技控股股份有限公司（以下简称"公司"或"招商公路"） 于 2025 年 7 月 15 日召开第三届董事会第三十三次会议，会议审议通过了《关于 申请注册发行债务融资工具的议案》，该议案已提交公司 2025 年第二次临时股 东大会审议通过。详情请参见 2025 年 7 月 16 日、2025 年 8 月 1 日刊登在《中 国证券报》《证券时报》《上海证券报》及巨潮资讯网上的《招商公路第三届董 事会第三十三次会议决议公告》《招商公路 2025 年第二次临时股东大会决议公 告》。 近日，公司收到中国银行间市场交易商协会（以下简称"交易商协会"）出 具的《接受注册通知书》（中市协注[2025]DFI58 号），接受招商公路债务融资 工具注册。《接受注册通知书》主要事项如下： 证券代码：001965 证券简称：招商公路 公告编号：2025-56 一、招商公路债务融资工具注册自 ...