Investment Rating - The report recommends "Buy" for the logistics sector, specifically highlighting SF Holding in the express delivery segment and Hecun Co., Ltd. in the smart logistics space [2][3]. Core Insights - The express delivery sector saw a 15% year-on-year increase in business volume in July, but the average revenue per ticket decreased by 5.3%. The report anticipates a potential increase in ticket prices due to seasonal demand and price adjustments in production areas [2]. - The logistics sector is experiencing a stabilization in hazardous chemical water transport prices, with a recommendation for Hecun Co., Ltd. as it focuses on smart logistics and benefits from improving demand [3]. - The aviation sector is responding to regulatory changes aimed at curbing unhealthy competition, with a noted increase in flight operations and a recommendation for major airlines like Air China and China Southern Airlines due to expected profit elasticity from supply-demand optimization [4]. Summary by Sections Transportation Market Review - The transportation index decreased by 0.5% from August 9 to August 15, while the Shanghai and Shenzhen 300 index increased by 2.4%, indicating underperformance in the transportation sector [12]. Industry Fundamentals Tracking Shipping and Ports - The report indicates that the shipping sector is under pressure, with the China Export Container Freight Index (CCFI) at 1193.34 points, down 0.6% week-on-week and down 40.9% year-on-year. The Shanghai Export Container Freight Index (SCFI) is at 1460.19 points, down 2.0% week-on-week and down 52.9% year-on-year [20]. - Domestic shipping is showing a slight improvement, with the Domestic Container Freight Index (PDCI) at 1068 points, up 1.7% week-on-week and up 7.9% year-on-year [28]. Aviation and Airports - The report notes a slight increase in domestic flight operations, with an average of 17,225 flights per day, up 2.76% year-on-year. The report also highlights the release of a self-regulatory charter by the China Air Transport Association to combat unhealthy competition [4][49]. - The domestic air passenger volume in June 2025 was 54.01 million, a 3% increase year-on-year, while international passenger volume increased by 17% [52]. Rail and Road - The report indicates a stable upward trend in road transport, with a 2.44% year-on-year increase in truck traffic on highways. The railway sector also shows positive signs, with a 5.4% year-on-year increase in freight volume for the Daqin Railway in July [73][78].

天眼查商业履历信息显示，江苏海晨物流股份有限公司，成立于2011年，位于苏州市，是一家以从事装 卸搬运和仓储业为主的企业。企业注册资本23060.1779万人民币，实缴资本23060.1779万人民币。公司 法定代表人为梁晨。 通过天眼查大数据分析，江苏海晨物流股份有限公司共对外投资了39家企业，参与招投标项目26次，知 识产权方面有商标信息19条，专利信息23条，此外企业还拥有行政许可12个。 金融界消息 截至2025年8月14日收盘，海晨股份（300873）报收于24.79元，下跌4.69%，换手率 7.71%，成交量12.86万手，成交金额3.24亿元。 资金流向方面，今日主力资金净流出4855.47万元，占比成交额14.99%。其中，超大单净流出3402.71万 元、占成交额10.5%，大单净流出1452.75万元、占成交额4.48%，中单净流出流入417.49万元、占成交 额1.29%，小单净流入4437.98万元、占成交额13.7%。 海晨股份最新一期业绩显示，截至2025一季报，公司营业总收入4.01亿元、同比减少0.39%，归属净利 润5771.75万元，同比增长0.99%，扣非净利润4757 ...

Market Overview - On August 14, the logistics sector declined by 0.66%, with Wanlin Logistics leading the drop [1] - The Shanghai Composite Index closed at 3666.44, down 0.46%, while the Shenzhen Component Index closed at 11451.43, down 0.87% [1] Individual Stock Performance - Hengji Dazheng (002492) saw a significant increase of 10.01%, closing at 7.69 with a trading volume of 500,900 shares and a turnover of 371 million yuan [1] - Jianfa Co. (600153) increased by 5.42%, closing at 10.90 with a trading volume of 706,000 shares and a turnover of 763 million yuan [1] - Wanlin Logistics (603117) experienced a decline of 5.34%, closing at 5.50 with a trading volume of 248,700 shares and a turnover of 138 million yuan [2] Capital Flow Analysis - The logistics sector experienced a net outflow of 510 million yuan from institutional investors, while retail investors saw a net inflow of 426 million yuan [2] - The table of capital flow indicates that Hengji Dazheng had a net inflow of 74.71 million yuan from institutional investors, while retail investors had a net outflow of 37.49 million yuan [3] Summary of Key Stocks - The top performers in terms of net inflow from institutional investors included Hengji Dazheng and Shunfeng Holdings (002352), which had a net inflow of 55.99 million yuan [3] - Other notable stocks with significant trading activity included Mierkewei (603713) and ST Guangwu (600603), with net inflows of 14.32 million yuan and 12.32 million yuan from institutional investors, respectively [3]

截至8月6日收盘，人形机器人概念上涨3.31%，位居概念板块涨幅第6，板块内，251股上涨，华密新材 30%涨停，豪森智能、海昌新材等20%涨停，杭齿前进、中大力德、内蒙一机等涨停，南京聚隆、奥比 中光、索辰科技等涨幅居前，分别上涨15.94%、14.49%、13.94%。跌幅居前的有芯朋微、海晨股份、 恒帅股份等，分别下跌3.35%、2.73%、1.91%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | PEEK材料 | 5.97 | 辅助生殖 | -1.60 | | 中船系 | 5.26 | 细胞免疫治疗 | -1.55 | | 兵装重组概念 | 4.66 | 肝炎概念 | -1.54 | | MLOps概念 | 3.60 | 流感 | -1.41 | | 国产航母 | 3.35 | CRO概念 | -1.38 | | 人形机器人 | 3.31 | 医药电商 | -1.38 | | 减速器 | 2.91 | 仿制药一致性评价 | -1.30 | | 工业母机 | 2.69 | 减肥药 | -1.27 | ...

证券之星消息，8月5日物流板块较上一交易日上涨0.4%，嘉友国际领涨。当日上证指数报收于3617.6， 上涨0.96%。深证成指报收于11106.96，上涨0.59%。物流板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 603871 | 嘉友国际 | 11.75 | 4.82% | 21.85万 | | 2.53亿 | | 300873 | 海晨股份 | 24.16 | 4.82% | 14.64万 | | 3.48亿 | | 002889 | 东方嘉盛 | 16.63 | 3.61% | 21.27万 | | 3.49亿 | | 002800 | 天顺股份 | 14.48 | 3.50% | 11.51万 | | 1.66亿 | | 002682 | 龙洲股份 | 4.92 | 2.71% | 33.30万 | | 1.63亿 | | 601598 | 中国外运 | 5.50 | 2.61% | 19.31万 | | 1.06亿 | | 603648 | ...

海晨股份最新一期业绩显示，截至2025一季报，公司营业总收入4.01亿元、同比减少0.39%，归属净利 润5771.75万元，同比增长0.99%，扣非净利润4757.34万元，同比增长0.08%，流动比率1.802、速动比率 1.768、资产负债率31.45%。 天眼查商业履历信息显示，江苏海晨物流股份有限公司，成立于2011年，位于苏州市，是一家以从事装 卸搬运和仓储业为主的企业。企业注册资本23060.1779万人民币，实缴资本23060.1779万人民币。公司 法定代表人为梁晨。 金融界消息 截至2025年7月29日收盘，海晨股份（300873）报收于21.35元，下跌0.88%，换手率 3.76%，成交量6.27万手，成交金额1.34亿元。 资金流向方面，今日主力资金净流出1331.49万元，占比成交额9.97%。其中，超大单净流出1233.77万 元、占成交额9.24%，大单净流出97.72万元、占成交额0.73%，中单净流出流入991.71万元、占成交额 7.43%，小单净流入339.78万元、占成交额2.54%。 通过天眼查大数据分析，江苏海晨物流股份有限公司共对外投资了39家企业，参与招投标项 ...

Investment Rating - The report recommends investing in SF Holding due to its valuation, operational resilience, and shareholder returns [2] - The report also recommends the aviation sector, specifically Air China and China Southern Airlines, due to expected profit elasticity from supply-demand optimization [4] Core Views - The express delivery industry saw a year-on-year growth of 15.8% in business volume in June, with SF Holding 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 robust growth, with Spring Airlines and China Eastern Airlines leading in RPK growth [4] - The shipping sector is facing challenges, with the CCFI index showing a significant year-on-year decline of 40.2% [5] Summary by Sections Transportation Market Review - The transportation index increased by 0.2% from July 12 to July 18, underperforming the Shanghai and Shenzhen 300 index by 0.8% [1][13] Express Delivery - In June, the national express delivery business volume reached 168.7 billion pieces, with a revenue of 126.32 billion yuan, marking a 9.0% year-on-year increase [2] - The average revenue per delivery decreased by 5.9% to 7.49 yuan [2] Logistics - The chemical products price index (CCPI) is at 4021 points, down 14.3% year-on-year [3] - Hai Chen Co. is recommended due to its strategic partnerships and improved demand in consumer electronics [3] Aviation - The average daily flights in China increased by 3.29% year-on-year, with domestic flights up by 1.89% [4] - RPK growth for major airlines shows significant increases, with Spring Airlines at +12% compared to 2024 [4] Shipping - The CCFI index is at 1303.54 points, down 0.8% week-on-week and down 40.2% year-on-year [5] - The BDI index increased by 29.9% week-on-week, indicating a recovery in dry bulk shipping [5][38] Road and Rail - The national highway freight traffic increased by 0.19% week-on-week, with a year-on-year increase of 0.82% [6][81] - The railway passenger turnover increased by 3.61% year-on-year, while freight turnover showed a slight decline [79]

Investment Rating - The report recommends investment in the logistics sector, specifically in companies like SF Holding and Haichen Co., due to their resilience and growth potential [2][3]. Core Views - The express delivery industry has seen a significant increase, with national express delivery volume surpassing 1 trillion pieces, indicating strong growth potential [2]. - The logistics sector is under pressure, particularly in hazardous materials logistics, but there is a push towards smart logistics, which is expected to benefit companies like Haichen Co. [3]. - The aviation sector is experiencing robust growth, with major airports like Baiyun and Shenzhen expected to see significant profit increases in the first half of 2025 [4]. - The shipping industry is facing challenges, with a slight increase in the BDI index but a decline in container shipping rates [4][36]. Summary by Sections Transportation Market Review - The transportation index rose by 0.7% during the week of July 5-11, underperforming the Shanghai and Shenzhen 300 index by 0.1% [12]. Industry Fundamentals Tracking Express Delivery - The national express delivery volume has exceeded 1 trillion pieces, with a year-on-year growth of 16.6% [2]. - Jitu's package volume reached approximately 7.39 billion pieces in Q2 2025, with a growth rate of 3.5% [2]. Logistics - The chemical product price index (CCPI) is at 4035 points, down 14.4% year-on-year [3]. - The domestic shipping price for liquid chemicals is 163 RMB/ton, down 13.9% year-on-year [3]. Aviation Airports - Baiyun Airport expects a net profit of 679 million to 830 million RMB for H1 2025, a year-on-year increase of 55.06% to 89.51% [4]. - Shenzhen Airport anticipates a net profit of 287 million to 337 million RMB for H1 2025, a year-on-year increase of 64.78% to 93.47% [4]. Shipping - The CCFI index for export container shipping is 1313.7 points, down 2.2% week-on-week and down 39.0% year-on-year [21]. - The BDI index for dry bulk shipping is 1483.6 points, up 2.2% week-on-week but down 23.7% year-on-year [36]. Road and Rail Ports - The total cargo throughput at monitored ports was 25.988 million tons, down 5.28% week-on-week [5]. - The number of trucks passing through highways was 52.977 million, down 2.42% week-on-week but up 1.71% year-on-year [5].

证券代码：300873 证券简称：海晨股份 公告编号：2025-029 江苏海晨物流股份有限公司 2024 年年度股东大会决议公告 二、会议出席情况 （一） 股东总体出席情况 通过现场和网络投票的股东及股东代理人共 106 人，代表股份 129,773,885 股，占公司有表决权股份总数的 56.6374％。 通过现场和网络投票的中小股东 104 人，代表股份 6,665,760 股，占公司有 表决权股份总数的 2.9091％。 （二） 股东现场出席情况 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。 特别提示 一、会议召开情况 6、 本次会议的召集、召开符合《中华人民共和国公司法》、《上市公司股 东大会规则》、《深圳证券交易所创业板股票上市规则》等有关法律、行政法规、 部门规章、规范性文件和《江苏海晨物流股份有限公司章程》的有关规定。 参加本次股东大会现场会议的股东及股东代理人共 7 人，代表股份 1、 本次股东大会不存在否决议案的情形。 2、 本次股东大会不涉及变更以往股东大会已通过的决议。 1、 召开时间：2025 年 6 月 27 日（星期五）14:3 ...

2024 年年度股东大会的法律意见书 致：江苏海晨物流股份有限公司 江苏海晨物流股份有限公司（以下简称"公司"）2024 年年度股东大会于 2025 年 6 月 27 日召开，国浩律师（上海）事务所（以下简称"本所"）接受公 司的委托，指派本所律师出席会议，并依据《中华人民共和国公司法》（以下简 称"《公司法》"）《中华人民共和国证券法》（以下简称"《证券法》"）、 中国证券监督管理委员会发布的《上市公司股东会规则》及其他现行有效的法律、 法规及规范性文件规定及《江苏海晨物流股份有限公司章程》（以下简称"《公 司章程》"）出具本法律意见书。 本所律师按照中华人民共和国（以下简称"中国"，仅为本法律意见书之目 的，不包括香港特别行政区、澳门特别行政区和中国台湾地区）现行法律、法规 的规定对本次股东大会的召集、召开程序是否合法及是否符合《公司章程》的规 定、出席会议人员资格和召集人资格、股东大会表决程序和表决结果的合法有效 性发表法律意见。 本法律意见书中不存在虚假、严重误导性陈述及重大遗漏，否则本所律师愿 意承担相应的法律责任。 国浩律师（上海）事务所 股东大会法律意见书 国浩律师（上海）事务所 关于江苏海晨物 ...