HNA Technology(SH:600751) Shang Hai Zheng Quan Bao·2025-12-19 19:40Core Viewpoint - HNA Technology is leveraging a dual-driven strategy of "shipping + trade" to enhance its resilience and adaptability in the volatile global dry bulk market, focusing on both operational efficiency and strategic growth opportunities [2][4]. Group 1: Shipping Operations - HNA Technology has expanded its operational routes to over ten global shipping lines, covering key regions such as Canada, Australia, and South America, creating a tightly connected global transportation network [3]. - The company maintains a flexible capacity model with a combination of owned and chartered vessels, achieving a total controllable capacity of approximately 1.1 million deadweight tons, which positions it favorably in the market [4]. - In the first three quarters of 2025, despite significant fluctuations in the Baltic Dry Index (BDI), the shipping business generated a revenue of 1.046 billion yuan and a net profit of 97 million yuan, demonstrating robust operational performance [4]. Group 2: Strategic Growth Initiatives - The recent acquisition of an 180,000-ton Capesize bulk carrier is part of HNA Technology's strategic positioning to capitalize on the evolving global iron ore trade landscape, particularly with the upcoming supply from Guinea's Simandou project [5]. - The company is implementing energy-saving technologies in its new vessels to align with carbon emission standards, indicating a commitment to sustainability and compliance with international regulations [6]. Group 3: Trade Operations - The "North Grain South Transport" project has successfully operated a newly established warehouse, handling over 100,000 tons of corn in less than two months, showcasing the effectiveness of HNA Technology's integrated logistics service model [7]. - The company's trade operations have diversified from iron ore and grain to include nickel and copper products, enhancing its resilience against market fluctuations and contributing approximately 20 million yuan in profits in the third quarter [8]. Group 4: Future Outlook - HNA Technology plans to continue its dynamic capacity adjustments and maintain a combination of owned and chartered vessels, while further developing its "shipping + trade" strategy to build sustainable growth capabilities across industry cycles [9].