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） Tel: +86 898-66982281 Fax: +86 898-66501969 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 年第三次临时股东大会 关 于 海 南 海 峡 航 运 股 份 有 限 公 司 2025 年 第 三 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 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、法规和其他 有关规范性文件的要求，北京大成（海口）律师事务所（以下简称"本所"）接 受海南海峡航运股份有限公司（以下简称"公司"）的委托，指派律师参加公司 本所声明：本所律师仅对本次股东大会的召集程序、召开程序、出席会议人员 资格 ...

股票简称：海峡股份 股票代码：002320 公告编号：2025-40 海南海峡航运股份有限公司 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 第三次临时股东大会于 2025 年 5 月 28 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 480 人，代表有表决权的股份 1,679,821,395 股，占公司总股 本的 75.36%。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 477 人，代表有表决权的股份 51,821,334 股，占公司总股本的 2.32%。本次会议由 公司董事会召集，由副董事长张婷女士主持。公司全体董事、监事、董事会秘书 及见证律师出席了本次会议，公司全体高级管理人员列席了本次会议。本次会议 的召集、召开符合有关法律、法规及海峡股份《公司章程》的规定。 二 ...

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 三 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 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、法规和其他 有关规范性文件的要求，北京大成（海口）律师事务所（以下简称"本所"）接 受海南海峡航运股份有限公司（以下简称"公司"）的委托，指派律师参加公司 2025 年第三次临时股东大会（以下简称"本次股东大会"）。 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 ...

Investment Rating - The report rates the transportation industry as "Outperform" [2] Core Insights - Maersk reported a 70.4% year-on-year increase in EBITDA for Q1 2025, with total revenue reaching $13.32 billion, a 7.8% increase [3][14] - Hainan Airlines transported over 617,000 passengers during the "May Day" holiday, setting a record for Beijing Daxing Airport [3][16] - SF Express saw an 87% year-on-year increase in business volume during the "May Day" holiday, with the e-commerce logistics index rising to 111.1 points in April [3][23] Summary by Sections 1. Industry Hot Events - Maersk's Q1 2025 report shows EBITDA growth of 70.4%, with net profit increasing by 480.3% to $1.21 billion [3][14] - Hainan Airlines executed approximately 3,883 flights and transported over 617,000 passengers during the "May Day" holiday, marking a 9% increase year-on-year [3][16] - SF Express reported an 87% increase in business volume during the holiday, with significant growth in various categories [3][23] 2. High-Frequency Data Tracking - Air freight prices remained stable from early to mid-April 2025, with a slight decline in some indices [4][27] - Domestic cargo flight volumes decreased by 1.67% year-on-year in April 2025, while international flights increased by 25.08% [4][36] - The SCFI index for container shipping reported a 0.32% week-on-week increase, but a 41.66% year-on-year decrease [4][40] 3. Investment Recommendations - The report suggests focusing on the industrial goods export chain, recommending companies like COSCO Shipping, China Merchants Energy, and Huamao Logistics [5] - It highlights investment opportunities in low-altitude economy trends and the cruise and ferry sectors [5] - Recommendations for the express delivery sector include SF Holdings, Jitu Express, and Yunda Express, with a focus on the aviation industry as well [5]

Group 1: Company Strategy and Market Position - The company is focusing on the core business of passenger and roll-on/roll-off (RoRo) transportation, aiming to become the first cross-regional RoRo leader in China after acquiring China Ocean Shipping Company (COSCO) passenger transport [2] - The acquisition is expected to enhance the company's core competitiveness and facilitate the integration of the two largest RoRo markets in China, promoting a leap from "expansion" to "strengthening" [2] - The company is actively exploring diversification opportunities related to its main business, particularly in emerging industries brought by the Hainan Free Trade Port policy, although no specific projects have been finalized yet [3] Group 2: Financial Performance and Shareholder Concerns - As of May 9, 2025, the number of shareholders is approximately 43,000 [4] - The company acknowledges concerns regarding executive compensation, stating that it is based on market conditions, industry standards, and long-term strategic planning, and aims to align with company performance and shareholder interests [5] - The company plans to improve its valuation through enhanced performance, better market communication, optimized capital structure, and improved corporate governance [8] Group 3: Operational Challenges and Responses - The company is addressing losses on the Beihai route by upgrading its fleet with better vessels to enhance operational capacity and customer relationships [9] - The purchase of two flat cargo ships is justified by the rapid growth of the electric vehicle market and the need to enhance safety measures for transporting these vehicles [6][7] - The company is implementing measures to improve profitability on the Xisha route, including optimizing route planning, reducing operational costs, and enhancing customer experience [10] Group 4: Regulatory and Governance Issues - The company is conducting a shareholder vote on a major asset restructuring that constitutes a related party transaction, in compliance with regulatory requirements [11][12] - The acquisition of the two flat cargo ships is confirmed to be a market-based purchase, not a related party transaction [12]

关于召开 2025 年第三次临时股东大会的通知 本公司及董事会全体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。 一、召开会议基本情况 （一）股东大会届次：2025 年第三次临时股东大会 （二）股东大会召集人：公司董事会。2025 年 3 月 20 日，海南海峡航运股 份有限公司（以下简称"公司"或"海峡股份"）第八届董事会第五次临时会议， 以 11 票赞同、0 票反对、0 票弃权，审议通过了《关于择期召开公司股东大会的 议案》，公司决定于 2025 年 5 月 28 日（星期三）召开 2025 年第三次临时股东 大会。 （三）会议召开的合法、合规性：公司第八届董事会第五次临时会议决议择 期召开公司股东大会，公司决定于 2025 年 5 月 28 日（星期三）召开 2025 年第 三次临时股东大会。本次股东大会的召开符合有关法律、行政法规、部门规章、 规范性文件、深交所业务规则和海峡股份《公司章程》等规定。 （四）会议召开的日期、时间： 股票简称：海峡股份 股票代码：002320 公告编号：2025-39 现场会议时间：2025 年 5 月 28 日上午 9:00 ...

股票简称：海峡股份 股票代码：002320 公告编号：2025-39 海南海峡航运股份有限公司 关于召开 2025 年第三次临时股东大会的通知 本公司及董事会全体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。 一、召开会议基本情况 （一）股东大会届次：2025 年第三次临时股东大会 （二）股东大会召集人：公司董事会。2025 年 3 月 20 日，海南海峡航运股 份有限公司（以下简称"公司"或"海峡股份"）第八届董事会第五次临时会议， 以 11 票赞同、0 票反对、0 票弃权，审议通过了《关于择期召开公司股东大会的 议案》，公司决定于 2025 年 5 月 28 日（星期三）召开 2025 年第三次临时股东 大会。 （六）股权登记日：2025 年 5 月 22 日 （七）出席对象： 1.在股权登记日持有公司股份的普通股股东或其代理人； 截至 2025 年 5 月 22 日下午收市后在中国证券登记结算有限责任公司深圳分 （三）会议召开的合法、合规性：公司第八届董事会第五次临时会议决议择 期召开公司股东大会，公司决定于 2025 年 5 月 28 日（星期三）召开 20 ...

Company Overview - Hainan Strait Shipping Co., Ltd. was established in 2002 with five founding shareholders [1] - The company primarily engages in ship transportation and ferry port services, operating routes such as Haikou to Sanya and Haikou to Beihai [1] - The company was listed on the Shenzhen Stock Exchange in 2009 [1] Key Developments - In 2013, the company launched the ecological tourism route to the Xisha Islands [1] - In 2017, it acquired passenger and roll-on/roll-off terminal assets from its major shareholder [1] - The company became part of the China Ocean Shipping Group in 2019 following a restructuring [1] Business Operations - The company operates a four-day, three-night tourism route to the Xisha Islands, enhancing passenger capacity and ticket prices with the introduction of the "Xianglong Island" vessel [3] - It holds a 33.36% stake in Qiongzhou Strait (Hainan) Ferry Transportation Co., Ltd., which began operations in 2022, improving service levels and operational efficiency [2] Future Growth Potential - The construction of the Free Trade Port is expected to drive a significant increase in passenger traffic due to supportive policies and improved infrastructure [5] - The New Sea Passenger Hub project will create a comprehensive port experience, integrating dining, accommodation, shopping, and entertainment [5] - The company aims to further develop tourism in the Xisha Islands by enhancing service quality and creating diverse marine tourism products [6] Strategic Opportunities - The implementation of favorable tax policies in the Hainan Free Trade Port will lower operational costs and attract more investors [6] - The upcoming closure of the island will facilitate easier movement of goods and investment, contributing to a predictable increase in passenger traffic [6]

Investment Rating - The report rates the transportation industry as "Outperform the Market" [1] Core Insights - COSCO Shipping Specialised Carriers reported a revenue of 5.196 billion yuan in Q1 2025, a year-on-year increase of 51.47%, with a net profit of 345 million yuan, up 1.56% [2][12] - HNA Holding achieved a revenue of 65.236 billion yuan in 2024, reflecting an 11.25% increase, while Guangzhou Baiyun Airport's net profit doubled [2][14] - YTO Express reported a business volume growth of 25.32% in 2024, with a total logistics value of 91 trillion yuan in Q1 2025, marking a 5.7% year-on-year increase [2][18] Summary by Sections 1. Industry Hot Events - COSCO Shipping Specialised Carriers maintained steady growth despite global shipping market volatility, with a Q1 revenue of 5.196 billion yuan, a 51.47% increase year-on-year [12] - HNA Holding's 2024 revenue reached 65.236 billion yuan, an 11.25% increase, while Guangzhou Baiyun Airport's net profit surged by 109.51% [14][16] - YTO Express's business volume grew by 25.32% in 2024, with a logistics total of 91 trillion yuan in Q1 2025, up 5.7% year-on-year [18][19] 2. Industry High-Frequency Data Tracking - In April 2025, domestic air cargo flights decreased by 1.67% year-on-year, while international flights increased by 25.08% [33] - The SCFI index for container shipping reported a decrease of 1.66% week-on-week, while the PDCI index for domestic shipping increased by 0.67% [40] - In March 2025, express delivery volume rose by 20.30% year-on-year, with total revenue reaching 124.6 billion yuan [51] 3. Company Performance - COSCO Shipping Specialised Carriers added 13 new vessels in Q1 2025, increasing total capacity to 691.5 thousand deadweight tons, a 12.53% increase from the end of 2024 [13] - HNA Holding's passenger transport volume exceeded 68 million in 2024, a 14.36% increase, with international passenger transport volume growing by 132.68% [15] - YTO Express's capital expenditure exceeded 6.7 billion yuan in 2024, focusing on automation upgrades and expanding its logistics network [19]