YPH(SZ:000088) 2 1 Shi Ji Jing Ji Bao Dao·2025-07-02 10:33Core Insights - The latest data from the Ministry of Transport indicates that Guangdong's port cargo throughput reached 799.23 million tons from January to May, a year-on-year increase of 1.1%, with foreign trade cargo throughput growing by 4% [1] - Shenzhen's port performance is particularly strong, with cargo throughput and foreign trade cargo throughput increasing by 6% and 10.7% respectively during the same period [1] - The data highlights the resilience of Chinese ports amid global trade changes, particularly under the pressure of "reciprocal tariffs" from the U.S. [2] Short-term Adaptation - The global foreign trade market has undergone significant changes in the past three months, with a notable impact from U.S. tariffs [3] - Following the announcement of a 90-day "window period" for U.S.-China trade, many businesses have rushed to utilize this opportunity for shipping [3] - Alibaba's international platform reported a 42% year-on-year increase in order volume from June 1 to June 19, with a 277% surge in daily container bookings from China to the U.S. after the joint statement [3] Long-term Strategy - Companies are diversifying their markets to mitigate risks associated with tariff fluctuations, with a focus on emerging markets such as the Middle East, Latin America, and Southeast Asia [5][6] - In the first five months, ASEAN became China's largest trading partner, with trade totaling 3.02 trillion yuan, a 9.1% increase [5] Port Operations and Logistics - Yantian Port, a key port for U.S. exports, has seen a recovery in market confidence, with increased shipping activity noted [4] - The port operates nearly 100 routes globally, with significant connectivity to North America and Europe [4] - Yantian Port has added 11 new routes in the first half of the year, enhancing its logistics capabilities [7] Cross-border E-commerce Growth - Yantian Port is a preferred hub for cross-border e-commerce, with a focus on building adaptive logistics models [7] - The port's collaboration with Hong Kong has led to efficient logistics channels, with a significant increase in container transport between the two regions [7][8] - The cross-border e-commerce sector is projected to grow, with an expected import-export scale of approximately 2.71 trillion yuan in 2024, reflecting a 14% year-on-year increase [10]