渤海轮渡受国防概念与高股息关注，股价震荡上行

Core Viewpoint - Bohai Ferry (603167) has gained market attention due to its defense concept and high dividend discussions, particularly following the event of its vessel "Bohai Mingzhu" crossing the Taiwan Strait, which has sparked discussions about its role in national maritime strategic deployment, although it clarified that it does not involve maritime rocket launch operations [1] Stock Performance - Over the past week, Bohai Ferry's stock price has shown a fluctuating upward trend, with a range change of 0.63%, currently priced at 9.58 yuan. Capital flow indicates a net inflow of 3.1976 million yuan on February 11 and a net inflow of 4.3 million yuan on February 13, with a turnover rate of 0.91%. The stock price volatility is driven by defense concepts and dividend expectations, but market sentiment changes should be noted [2] Financial Report Analysis - The company's Q3 2025 report shows a revenue of 1.428 billion yuan for the first three quarters, a year-on-year increase of 1.07%. The net profit attributable to shareholders is 272 million yuan, up 5.68% year-on-year, with a significant increase of 11.61% in net profit for the single third quarter at 170 million yuan. The net cash flow from operating activities is 328 million yuan, reflecting a year-on-year growth of 41.7%, indicating high profit quality. These financial figures have been frequently cited to support the high dividend logic [3] Institutional Perspectives - In the industry context, Guohai Securities' report on February 13 maintains a "recommended" rating for the shipping and port sector, noting a year-on-year increase of 135.95% in the Baltic Dry Index and a rebound in iron ore throughput, although the direct impact on individual stocks is limited. CITIC Securities' report on February 8 analyzes supply-side changes in the oil industry, primarily concerning VLCC capacity, without specifically targeting Bohai Ferry [4]