Core Viewpoint - The optimization and expansion of maritime routes by Hainan Strait Shipping Co., Ltd. is reshaping regional economic geography, enhancing connectivity between Hainan Free Trade Port and the Beibu Gulf Economic Zone [2][3]. Group 1: Strategic Layout Reshaping Transportation Map - The company has upgraded the "Haikou-Beihai" route and launched the "Haikou-Fangchenggang" route, establishing a dual-line operation that improves efficiency and reduces travel time [3]. - The "Chang Le Gong Zhu" ship is equipped with advanced navigation systems and emergency response mechanisms to ensure safe operations [3]. - As of June, the "Haikou-Beihai" route saw a 61.8% increase in passenger volume and a 265.6% increase in vehicle transport, indicating strong market demand for efficient sea-land intermodal transport [3]. Group 2: Economic Vitality Activating Regional Collaboration - The new routes facilitate direct transportation of products such as Hainan tropical agricultural products and Beihai electronic goods, creating a logistics channel that integrates "Beibu Gulf manufacturing + Hainan exports" [4]. - The routes enable cross-regional flow of economic elements, allowing for the export of machinery and components from Yunnan, Guizhou, and Sichuan to Hainan, while steel and chemicals from Guangxi can enter the Hainan market [4]. - The upgrade of the maritime routes is a key initiative for collaborative development between Hainan and Guangxi, transforming Hainan from an "island economy" to a "bay area collaboration" [4]. Group 3: Integration of Livelihood and Cultural Tourism - The new routes are significantly changing residents' lifestyles and cultural experiences, with lower travel costs compared to flights, enhancing accessibility for families [5]. - The routes are equipped with facilities for accessibility and family needs, and plans for educational activities related to marine culture are in place [6]. - The optimization of routes is driving deeper integration of cultural tourism, linking various attractions across Hainan and Guangxi, and promoting tourism through initiatives like the issuance of tourism consumption vouchers [6].

Group 1: Port Capacity and Operations - The annual design capacity of Haikou New Port passenger hub is 35 million passengers and 5.6 million vehicles [2] - The combined throughput capacity of Haikou New Port and Xiuying Port has significant room for growth compared to current operational volumes [2] - The company plans to increase capacity by adding flat-deck barges and new roll-on/roll-off vessels, as well as opening new routes to alleviate pressure on the Haikou to Hai'an route [2] Group 2: Pricing and Revenue Strategies - The ticket price for the Haikou to Hai'an route has remained unchanged in recent years [3] - Future revenue enhancement will focus on providing port and route value-added services and strengthening commercial operations at the new passenger hub [3] Group 3: Strategic Acquisitions and Synergies - The acquisition of Xuwen Port will enable unified scheduling and management of ports on both sides of the Qiongzhou Strait, improving vessel turnaround and operational efficiency [4] - The integration of shipping resources in the Qiongzhou Strait increased the fleet from 15 to 47 vessels by the end of 2021 [5] Group 4: Future Opportunities and Market Position - The implementation of the Hainan Free Trade Port policy is expected to lower operational costs and attract more investors, leading to increased passenger and vehicle traffic [6][7] - The company holds approximately 80% market share in the Qiongzhou Strait roll-on/roll-off transport market and about 40% in the Bohai Bay market [7] Group 5: Capital Expenditure and Competitiveness - The company plans to invest in the construction of two new roll-on/roll-off vessels to replace aging ships [7] - Compared to competitors, the company has a higher average vessel age and lower operational efficiency, but aims to improve profitability through capacity upgrades and enhanced management practices [7]

Group 1 - The legal opinion letter is issued by Beijing Dacheng (Haikou) Law Firm regarding the 2025 Fourth Extraordinary General Meeting of Hainan Strait Shipping Co., Ltd. [1][2] - The meeting was proposed and convened by the Board of Directors, with a resolution passed on June 23, 2025, to hold the meeting [2][3]. - The notice and proposal content for the meeting were announced on June 20 and June 24, 2025, through various platforms including the Shenzhen Stock Exchange [3][4]. Group 2 - The meeting was held using a combination of on-site and online voting, with the on-site meeting taking place at the Port and Shipping Building [3][4]. - The meeting was attended by a total of 426 shareholders and representatives, representing 1,628,000,061 shares, which is 73.04% of the total shares [4][5]. - Online voting was conducted with 423 shareholders participating, representing 23,234,931 shares, which is 1.04% of the total shares [5]. Group 3 - The proposals for the meeting included significant matters affecting minority investors, with separate counting of votes for minority shareholders [6][7]. - The voting process was conducted through a registered voting method and online voting, with results announced immediately after the voting [6][7]. - The total votes for the proposals showed that the resolutions were passed, with a combined total of 1,648,112,491 shares in favor [7][8]. Group 4 - The legal opinion concludes that the convening and holding procedures of the meeting comply with relevant laws, regulations, and the company's articles of association [8]. - The qualifications of the attendees and the convenor were deemed valid, and the voting procedures and results were confirmed as legal and effective [8].

关 于 海 南 海 峡 航 运 股 份 有 限 公 司 2025 年 第 四 次 临 时 股 东 大 会 的 法 律 意 见 书 大成 is Dentons'Preferred Law Firm in China. 北京大成（海口）律师事务所 www.dacheng.com 海口市国兴大道 57 号海口中交国际中心 1 号楼 23A 层（570203） 23A/F, THE CCCC HAIKOU INTERNATIONAL CENTER , No.57, Guoxing Avenue 570203,Haikou,Hainan,China Tel: +86 898-66982281 Fax: +86 898-66501969 北 京 大 成 （ 海 口 ） 律 师 事 务 所 北京大成（海口）律师事务所 关于海南海峡航运股份有限公司 2025 年第四次临时股东大会 的法律意见书 致：海南海峡航运股份有限公司 根据《中华人民共和国证券法》（以下简称《证券法》）、《中华人民共和 国公司法》（以下简称《公司法》）和中国证券监督管理委员会《上市公司股东 大会规则（2022 年修订）》（以下简称《股东大会规则》）等法律 ...

2025 年第四次临时股东大会决议公告 本公司及全体董事会成员保证公告内容真实、准确和完整，并对公告中的 虚假记载、误导性陈述或者重大遗漏承担责任。 重要提示： 1.本次股东大会无否决、修改、增加提案的情况。 2.本次股东大会以现场结合网络投票方式召开。 一、会议召开和出席情况 海南海峡航运股份有限公司（以下简称"海峡股份"或"公司"）2025 年 第四次临时股东大会于 2025 年 7 月 9 日在海南省海口市滨海大道 157 号港航大 厦 14 楼会议室召开，会议采取现场结合网络投票方式举行。参加本次会议的股 东及股东代表共计 426 人，代表有表决权的股份 1,651,234,992 股，占公司总股 本的 74.08%。其中，出席现场会议的股东代表 3 人，代表有表决权的股份 1,628,000,061 股，占公司总股本的 73.04%；通过网络投票出席会议的股东 423 人，代表有表决权的股份 23,234,931 股，占公司总股本的 1.04%。本次会议由 公司董事会召集，由副董事长张婷女士主持。公司部分董事、监事及见证律师出 席了本次会议，公司部分高级管理人员列席了本次会议。公司董事会秘书蔡泞检 ...

Investment Rating - The report rates the transportation industry as "Outperforming the Market" [2] Core Insights - The easing of the Israel-Iran conflict has led to a decline in oil tanker rates, with the VLCC market shifting from geopolitical influences to supply-demand fundamentals [3][14] - The establishment of the General Aviation and Low Altitude Economy Working Group by the Civil Aviation Administration of China (CAAC) aims to enhance the development of low-altitude economy and general aviation [3][16] - The price of unmanned logistics vehicles has dropped to around 20,000 yuan, contributing to a 5.3% year-on-year growth in national social logistics total in the first five months of 2025 [3][22] Industry Highlights - The VLCC market sentiment has transitioned to supply-demand fundamentals, with tanker rates under pressure due to increased competition among shipowners and no significant rise in cargo volumes [3][14] - As of July 4, 2025, the shipping rates from Shanghai to Europe increased by 3.5% to 2,101 USD/TEU, while rates to the US West and East coasts decreased by 19.0% and 12.6%, respectively [3][15] - In the first half of 2025, 117 new international air cargo routes were opened in China, with over 233 round-trip flights added weekly [3][16][18] - The logistics sector has seen a total of 138.7 trillion yuan in social logistics, reflecting a 5.3% year-on-year increase, with a slight deceleration in growth compared to previous months [3][24] High-Frequency Data Tracking - In June 2025, domestic cargo flights increased by 9.42% year-on-year, while international flights rose by 32.87% [26][33] - The express delivery sector experienced a 17.20% year-on-year increase in business volume in May 2025, with total express business volume reaching 173.2 billion pieces [56][58] - The national port cargo throughput reached 7.345 billion tons in the first five months of 2025, marking a 3.8% year-on-year growth [52]

Summary of Key Points Core Viewpoint - A total of 161 stocks reported their latest shareholder numbers as of June 30, with 61 stocks showing a decline in shareholder numbers compared to the previous period, indicating a trend of decreasing investor interest in certain companies [1][3]. Group 1: Shareholder Changes - Among the 161 stocks, 5 stocks experienced a decline in shareholder numbers exceeding 5% [3]. - The stock with the largest decline in shareholder numbers was Zhongyi Technology, which saw a decrease of 13.51% to 20,848 shareholders, and has dropped 6.16% since the concentration of shares began [3]. - Phoenix Shipping reported a 10.15% decrease in shareholder numbers to 99,307, with a 3.18% decline in stock price during the same period [3]. Group 2: Market Performance - The average increase for concentrated stocks since June 21 was 5.40%, outperforming the broader market [3]. - Notable performers included Jiangsu Shentong, which rose by 12.48%, and Chunxue Food, which increased by 12.45% [3]. - The sectors with the most concentrated stocks included machinery, power equipment, and automotive, with 8, 5, and 4 stocks respectively [3]. Group 3: Stock Performance Metrics - The stock with the highest increase among those with declining shareholder numbers was Zhongke Hai Xun, which surged by 51.53% since June 11 [2]. - The overall performance of concentrated stocks showed that 48% outperformed the Shanghai Composite Index during the same period [2]. Group 4: Detailed Stock Data - A detailed table lists various stocks, their latest shareholder numbers, percentage changes, and industry classifications, highlighting the performance metrics of each stock [3][4][5].

Investment Rating - The report rates the transportation industry as "Outperform" [2] Core Insights - The easing of tensions in the Middle East has led to a decline in oil tanker rates, with the VLCC market experiencing a significant price drop of 14.31% compared to June 19, with current rates at WS59.88 [3][12] - In the shipping sector, the demand for European routes has improved, resulting in a 10.6% increase in spot market booking prices, while the US routes have seen a decline of 7.0% and 11.9% for the West and East coasts, respectively [3][14] - During the summer travel season, Hainan Airlines plans to operate nearly 2,500 flights daily, with domestic ticket bookings reaching 17.9 million, a 5% increase year-on-year [3][15] - The newly unveiled Zhuque eVTOL has a range of 600 kilometers, and from January to May, national railway freight volume increased by 3.1% year-on-year, totaling 1.641 billion tons [3][22] Summary by Sections 1. Industry Hot Events - The Middle East situation has calmed, leading to a reduction in oil tanker rates and a return to supply-demand fundamentals [12] - Hainan Airlines is set to launch 75 new domestic and international routes during the summer travel season, with a daily flight plan of nearly 2,500 [15] - The Zhuque eVTOL was showcased, achieving a range of 600 kilometers, while railway freight volume showed a year-on-year increase [22] 2. High-Frequency Data Tracking - Air logistics: The overall trend for routes to the Asia-Pacific remains stable, with air freight prices showing a decline [25] - Shipping ports: The domestic container shipping price index has decreased, while dry bulk freight rates have also fallen [43] - Express logistics: In May 2025, express delivery volume increased by 17.20% year-on-year, with revenue rising by 8.20% [54] - Air travel: The average daily international flights in the last week of June 2025 increased by 17.51% year-on-year [3] - Road and rail: The number of freight trucks on highways increased by 0.88% week-on-week [3] 3. Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics [4] - Attention to low-altitude economy investment opportunities, recommending CITIC Offshore Helicopter [4] - Investment opportunities in the road and rail sector, recommending Sichuan Chengyu, Gansu Expressway, and others [4] - Interest in cruise and ferry investment opportunities, recommending Bohai Ferry and Haixia Co [4] - E-commerce and express delivery investment opportunities, recommending SF Express, Jitu Express, and Yunda [4] - Investment opportunities in the aviation sector, recommending China National Aviation, Southern Airlines, and others [4]

Group 1 - Hainan Port and Shipping Holdings Co., Ltd. applied for a patent titled "Method and Device for Ship Docking Based on Spatial Avoidance Strategy" with publication number CN120220466A, filed on March 2025 [1] - The patent relates to data processing technology and includes a method for obtaining an optimal docking plan for target ships based on available ships, available berths, and a preset minimum spatial avoidance distance [1] - Hainan Port and Shipping Holdings Co., Ltd. was established in 2004, located in Haikou, with a registered capital of 1,287.58 million RMB, and has invested in 18 companies and participated in 1,121 bidding projects [1] Group 2 - Hainan Strait Shipping Co., Ltd. was established in 2002, also located in Haikou, with a registered capital of 2,228.93 million RMB, and has invested in 12 companies and participated in 456 bidding projects [2] - Hainan Strait Shipping Co., Ltd. holds 21 trademark records and 13 patent records, along with 95 administrative licenses [2]

Core Viewpoint - China Ocean Shipping Passenger Company (COSCO Passenger) has officially launched the 2025 summer transportation season in the Bohai Bay, aiming to provide a cool, convenient, and safe maritime travel experience for passengers [1] Group 1: Service Offerings - COSCO Passenger has planned several key routes including "Dalian-Yantai," "Dalian-Weihai," and "Lüshunkou-Tianjin" to cater to various travel needs such as family visits, seaside vacations, and student returns [1] - The company emphasizes a high-quality maritime travel experience, featuring spacious and clean cabins, viewing decks, and comprehensive facilities like supermarkets and nursing rooms [2] - A dedicated "Little Star" service team has been established to assist special needs passengers, ensuring a warm and caring environment for all travelers [2] Group 2: Safety Measures - Safety is a top priority for COSCO Passenger, which has an experienced crew and advanced safety equipment [1] - Prior to the summer transportation season, the company organized practical drills for crew members, focusing on fire escape and other safety protocols to ensure passenger safety [1] Group 3: Customer Engagement - Passengers can purchase tickets through the "COSCO Passenger Ticket" official WeChat mini-program, which offers real-time price inquiries, online seat selection, and one-click booking features [2] - The company has set up summer service desks at key ports like Yantai and Dalian, providing complimentary "cooling gift packs" with ticket purchases to enhance the travel experience [2] - Special discounts are available for high school graduates and college students, who can enjoy exclusive ticket offers with valid identification [2] Group 4: Future Plans - COSCO Passenger is committed to a "passenger-centered" service philosophy and aims to further enhance service levels to become a reliable partner for travelers in the Bohai Bay [2]