截至2025年7月31日收盘，海峡股份股价报8.13元，较前一交易日下跌0.53元，跌幅6.12%。当日成交量 为90.53万手，成交金额达7.43亿元。 海峡股份属于航运港口板块，主要从事琼州海峡客滚运输业务。公司拥有船舶运力及港口吞吐能力，业 务范围涵盖海南与广东之间的客货运输。 7月31日，海峡股份主力资金净流出6826.73万元，占流通市值的0.38%。 风险提示：股市有风险，投资需谨慎。 公司近期在投资者互动平台表示，现有船舶运力和港口吞吐能力仍有较大富余空间，能够应对海南自贸 港封关运作后带来的车客流增长。此外，公司参股的广东琼州海峡船舶修造有限公司已承接琼州海峡主 要客滚船舶的维修业务，但预计对整体业绩影响有限。 ...

Core Viewpoint - The company, Haixia Co., Ltd. (002320), is experiencing a decline in stock price and significant net outflow of funds, while also benefiting from favorable policies related to the Hainan Free Trade Port, which may enhance its operational environment and growth potential. Trading Information - On July 31, Haixia Co., Ltd. closed at 8.13 yuan, down 6.12%, with a trading volume of 9053.32 million yuan and a net outflow of 6826.73 million yuan from main funds [2][3] - Over the past 10 trading days, the main funds have seen a cumulative net outflow of 200 million yuan, while the stock price has increased by 14.26% [2] - The financing balance has increased by 83.32 million yuan, and the short-selling volume has risen by 34,700 shares [2] Fund Flow - On July 31, the main funds experienced a net outflow of 6826.73 million yuan, while retail investors saw a net inflow of 4804.66 million yuan [3] Company Strategy and Market Position - Haixia Co., Ltd. is actively participating in the construction of the Hainan Free Trade Port and is benefiting from tax incentives, which reduce operational costs [4][5][6] - The implementation of "zero tariff" policies and trade liberalization measures in the Free Trade Port is expected to facilitate the movement of goods and attract more investors, positively impacting the company's passenger and cargo flow [4][5][6] - The company is positioned to benefit from the growth of the tourism sector in Hainan, as infrastructure improvements are expected to increase tourist traffic [4][5][6] Competitive Landscape - Haixia Co., Ltd. operates the "Xianglong Island" ferry service for tourism in the Xisha Islands, but it is not the only company in this market, as another company also operates similar routes [7]

Market Overview - The shipping and port sector experienced a decline of 2.0% on July 31, with China National Offshore Oil Corporation (CNOOC) leading the drop [1] - The Shanghai Composite Index closed at 3573.21, down 1.18%, while the Shenzhen Component Index closed at 11009.77, down 1.73% [1] Individual Stock Performance - CNOOC's stock closed at 10.58, down 6.29% with a trading volume of 303,400 shares and a transaction value of 327 million yuan [1] - Other notable declines included: - Haixia Co., Ltd. at 8.13, down 6.12% - Ningbo Ocean at 9.50, down 4.14% - Xiamen Port at 8.30, down 3.60% [1] Capital Flow Analysis - The shipping and port sector saw a net outflow of 649 million yuan from major funds, while retail investors contributed a net inflow of 486 million yuan [1] - The table of capital flow indicates that major funds had a negative net inflow in several companies, including: - Shanghai Port Group with a net inflow of 61.24 million yuan [2] - Tianjin Port with a net inflow of 15.21 million yuan [2] - Conversely, some companies experienced significant net outflows from major funds, such as: - Qin Port Co. with a net outflow of 103.34 million yuan [2]

Core Viewpoint - The introduction of the "Evening Departure, Morning Arrival" night ferry service from Haikou to Beihai by Hainan Strait Shipping Co., Ltd. aims to enhance travel comfort and efficiency for long-distance journeys, allowing passengers to rest during transit and arrive at their destination refreshed [1][2]. Group 1: Service Features - The ferry service has been upgraded since April, featuring two vessels, "Princess Chang Le" and "Wanrong Hai," operating daily fixed schedules, providing a convenient transportation option [2]. - The "Princess Chang Le" offers luxurious accommodations, including sea-view suites and rooms equipped with independent bathrooms and luggage storage, ensuring a comfortable travel experience [2]. - The vessel is designed with advanced stabilizing fins for smooth sailing and noise control, allowing passengers to enjoy a peaceful sleeping environment [2]. Group 2: Economic and Travel Benefits - The night ferry service presents significant advantages in terms of time and cost compared to land routes or expensive airfares, saving travelers both daytime hours and accommodation expenses [3]. - To attract more passengers, the company has introduced limited-time promotional ticket prices from April 25 to October 31, alongside a tourism consumption voucher program in Hainan, distributing 40 million yuan to further reduce travel costs [3]. - The new night route is transforming the tourism landscape between Hainan and Guangxi, enabling a seamless travel experience that connects multiple destinations in a short time [3]. Group 3: Future Developments - Future plans include adding an entertainment stage and marine education area on the eighth deck, aiming to create a "mobile cultural tourism complex" that enhances the travel experience [2]. - The ongoing service upgrades and regional cooperation are expected to inject new vitality into the tourism economy of Hainan and Guangxi, positioning the night ferry as a new highlight in the tourism sector [3].

Group 1 - The company, Haixia Co., Ltd. (002320.SZ), has indicated that its current shipping capacity and port throughput capabilities have significant surplus capacity to handle the expected increase in passenger and vehicle flow following the implementation of the Hainan Free Trade Port's closure operations [1] - There is a strong interest from domestic investment institutions regarding the Hainan Free Trade Port's full island closure operations, with analysis suggesting that various tax and shopping incentives will attract a large number of tourists and businesses to Hainan, potentially leading to a substantial increase in demand for ferry services across the Qiongzhou Strait [3]

Group 1 - The company has confirmed that its ship repair orders are saturated, indicating strong demand in the sector [2] - The joint venture, Guangdong Qiongzhou Strait Ship Repair and Construction Co., Ltd., is set to officially commence operations in April 2025 and has already secured repair contracts for major passenger and roll-on/roll-off vessels in the Qiongzhou Strait [2] - Despite the initial operations of the joint venture, its current performance contribution is limited and is not expected to significantly impact the overall performance of the company [2]

格隆汇7月30日丨海峡股份(002320.SZ)于投资者互动平台表示，公司新海港主要面向海南与中国大陆地 区的人员及车辆运输，并无直接运输进口入境商品。公司运输车辆装载产品大部分为农产品及生鲜冷 链、消费品与商贸物流等民生物资。 ...

Investment Rating - The transportation sector has shown a positive trend with a 3.2% increase in the transportation index, outperforming the Shanghai Composite Index by 1.5% during the week of July 19-25, 2025 [1][12]. Core Insights - The transportation sector's fund holdings increased to 32.5 billion yuan, a 17.0% rise compared to the previous quarter, with a market share of 1.95% [2]. - The express delivery segment saw a significant year-on-year growth of 15.8% in June, with SF Express leading the growth [2]. - The logistics sector is under pressure, particularly in hazardous materials logistics, but there is a push towards smart logistics, with Hai Chen Co. being recommended [3]. - The aviation sector is experiencing a steady recovery, with a 3% increase in domestic passenger volume in June compared to the previous year [4]. - The shipping sector is stabilizing, with the Baltic Dry Index (BDI) increasing by 10.9% week-on-week, indicating a positive trend in dry bulk shipping [5][34]. Summary by Sections Transportation Market Review - The transportation index rose by 3.2%, with the airport sector showing the highest increase of 5.6% [1][12]. Industry Fundamentals Tracking Shipping and Ports - The export container freight index (CCFI) was 1261.35 points, down 3.2% week-on-week and down 40.9% year-on-year [20]. - The domestic container freight index (PDCI) increased by 1.1% week-on-week, indicating a slight recovery in domestic shipping [28]. Aviation and Airports - The average daily flights reached 16,945, a 3.68% increase year-on-year, with domestic flights up by 2.51% [4]. - The introduction of a new ticket purchasing feature on the airline service platform is expected to enhance customer experience [4]. Rail and Road - National highway freight traffic increased by 0.67% week-on-week, with a year-on-year increase of 2.01% [6][76]. - The railway passenger volume in June was 373 million, a 3.61% increase year-on-year [73]. Express Delivery - The express delivery business volume reached 16.87 billion pieces in June, with a notable increase in the market share of SF Express [2][44].

Market Performance - The Hainan Free Trade Zone concept declined by 3.77%, ranking among the top declines in concept sectors as of July 25 [1] - Within the sector, notable declines were seen in Shennong Seed Industry, Xinlong Holdings, and Hainan Ruize, while only four stocks experienced price increases, with Caesar Travel, Hainan Airport, and Kangzhi Pharmaceutical leading the gains at 4.05%, 3.14%, and 0.66% respectively [1] Capital Flow - The Hainan Free Trade Zone concept saw a net outflow of 3.96 billion yuan from major funds, with 28 stocks experiencing net outflows and 13 stocks exceeding 100 million yuan in net outflows [2] - Hainan Huatie led the net outflow with 805.19 million yuan, followed by HNA Holding, Shennong Seed Industry, and Haixia Shares with net outflows of 526.38 million yuan, 367.88 million yuan, and 223.43 million yuan respectively [2][3] Stock Performance - The top stocks with significant net outflows included: - Hainan Huatie: -5.09% with a turnover rate of 18.12% and a net outflow of 805.19 million yuan - HNA Holding: -1.84% with a turnover rate of 5.65% and a net outflow of 526.38 million yuan - Shennong Seed Industry: -9.69% with a turnover rate of 39.57% and a net outflow of 367.87 million yuan - Haixia Shares: 0.37% with a turnover rate of 10.06% and a net outflow of 223.43 million yuan [3]

Group 1 - The A-share market showed an overall upward trend on July 24, with the Hainan sector experiencing significant growth, becoming one of the market's highlights [1][2] - The Shanghai Composite Index rose by 0.48% to 3599.44 points, while the Shenzhen Component Index increased by 0.65% and the ChiNext Index by 0.72% [2] - Hainan sector surged over 9% by midday, with individual stocks like Kangzhi Pharmaceutical hitting a 20% limit up, and several others also reaching their daily limit [4][5] Group 2 - Major industry sectors such as retail, steel, and real estate saw gains exceeding 2%, while sectors like telecommunications and banking underperformed [4] - The Hainan sector's total market capitalization reached 349.73 billion, with a trading volume of 22.206 billion [5] - Specific stocks in the Hainan sector, including Hainan Airport and Hainan Highway, also recorded significant increases, with many stocks showing around 10% gains [6] Group 3 - The State Council announced that the Hainan Free Trade Port will officially start its closure operation on December 18, 2025, with new policies aimed at enhancing trade and investment [7][8] - The zero-tariff policy will expand significantly, increasing the proportion of zero-tariff imported goods from 21% to 74%, covering 6600 items [8] - The new policies will facilitate easier trade management and more efficient regulatory measures, promoting a smoother implementation of the open policies [7][8]