Core Insights - The Moroccan port throughput is expected to show positive growth, reaching 262.6 million tons by 2025, an increase of 8.9% compared to 2024 [1] Group 1: Port Throughput and Distribution - The combined throughput of Tangier Mediterranean Port, Jorf Lasfar Port, and Casablanca Port is projected to be 232 million tons, accounting for 88% of the total throughput [1] - The distribution of overall port traffic in 2025 indicates that transshipment activities will dominate at 50.5%, followed by imports at 29.6%, exports at 15.7%, coastal transport at 3.6%, and bunkering at 0.6% [1] Group 2: Import Volumes and Changes - The total import volume is expected to reach 77.6 million tons, reflecting a 2.8% increase from 2024 [1] - Key changes in imported goods include hydrocarbons at 13.4 million tons (+3.9%), coal at 10.4 million tons (+7.3%), containers at 13.5 million tons (+14.6%), international road transport at 6.9 million tons (+7%), grains at 10.1 million tons (-4.5%), and sulfur at 6.7 million tons (-18.2%) [1] Group 3: Vehicle and Passenger Traffic - The number of new vehicles passing through the ports is projected to be 662,900, a decrease of 5.8% compared to 2024, with approximately 70% intended for export [1] - Passenger traffic at the ports is expected to reach 5.585 million, representing a year-on-year growth of 5.4% [1] Group 4: Fishing Industry - The catch volume of coastal and small-scale marine fisheries is anticipated to be 1.13 million tons, showing a year-on-year decline of 15.2% [1]

Core Insights - In 2025, China's inter-regional personnel flow is expected to reach 66.86 billion trips, a year-on-year increase of 3.5% [1] - The transportation sector is projected to maintain a stable economic operation with steady progress [3] Personnel Flow - Railway and civil aviation passenger volumes are expected to grow by 6.7% and 5.5% respectively, while road personnel flow is projected to increase by 3.3%, and waterway passenger volume is expected to remain stable [1] Freight Volume - The total freight volume in China is anticipated to reach 5.87 billion tons in 2025, reflecting a year-on-year growth of 3.2% [1] - Freight volumes by mode are expected to grow as follows: railway by 2%, road by 3.4%, waterway by 3.2%, and civil aviation by 13.3% [1] - Express delivery volume is projected to reach 199 billion items, marking a year-on-year increase of 13.7% [1] Port Throughput - Port cargo throughput is expected to reach 1.834 billion tons, with a year-on-year growth of 4.2% [1] - Domestic and foreign trade throughput is expected to grow by 4% and 4.7% respectively [1] - Container throughput is projected to reach 35 million TEUs, with a year-on-year increase of 6.8% [1] Investment in Transportation - Transportation fixed asset investment is expected to exceed 3.6 trillion yuan in 2025, with specific allocations of 901.5 billion yuan for railways, over 2.6 trillion yuan for roads and waterways, and 120 billion yuan for civil aviation [2]

Group 1 - The core viewpoint is that by 2025, China's inter-regional personnel flow is expected to reach 66.86 billion trips, representing a year-on-year growth of 3.5% [1] - In terms of transportation modes, railway and civil aviation passenger volumes are projected to grow by 6.7% and 5.5% respectively, while road personnel flow is expected to increase by 3.3%, and waterway passenger volume is expected to remain stable [1] - The total freight volume in China is anticipated to reach 5.87 billion tons in 2025, with a year-on-year increase of 3.2%, and specific growth rates for different transport modes are 2% for rail, 3.4% for road, 3.2% for waterway, and 13.3% for civil aviation [1] Group 2 - The port cargo throughput is expected to grow to 1.834 billion tons in 2025, with a year-on-year increase of 4.2%, and the growth rates for domestic and foreign trade throughput are 4% and 4.7% respectively [1] - The container throughput is projected to reach 35 million TEUs, reflecting a year-on-year growth of 6.8%, with domestic and foreign trade container throughput increasing by 2.4% and 9.8% respectively [1] - The scale of transportation investment is expected to remain high, with an estimated completion of over 3.6 trillion yuan in fixed asset investment, including 901.5 billion yuan for railways and over 2.6 trillion yuan for roads and waterways [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：03369） 有關本集團截至2025年12月31日止年度吞吐量之自願性公告 本公告乃由秦皇島港股份有限公司（「本公司」，連同其附屬公司合稱為「本集團」）所作的自願性公 告。 為了令本公司之股東及潛在投資者對本公司最近期的業務表現能有更好的了解，本公司董事會（「董 事會」）現公布本集團截至2025年12月31日止年度的營運資料如下： 按貨種分類之吞吐量表 | | 2025年度吞吐量 | 2024年度吞吐量 | 增加╱（減少） | | --- | --- | --- | --- | | | （百萬噸） | （百萬噸） | 百分比(%) | | 煤炭 | 217.03 | 208.83 | 3.93 | | 金屬礦石 | 161.72 | 156.62 | 3.26 | | 油品及液體化工 | 2.17 | 1.73 | 25.43 | | 集裝箱 | ...

Group 1 - Multiple economic data releases on December 19 cover areas such as e-commerce, air freight, and port throughput [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 按貨種分類之吞吐量表 | | 截至2025年 | 截至2024年 | | | --- | --- | --- | --- | | | 9月30日 | 9月30日 | | | | 止九個月 | 止九個月 | | | | 吞吐量 | 吞吐量 | 增加╱（減少） | | | （百萬噸） | （百萬噸） | 百分比(%) | | 煤炭 | 161.15 | 151.68 | 6.24 | | 金屬礦石 | 115.98 | 113.41 | 2.27 | | 油品及液體化工 | 1.50 | 1.26 | 19.05 | | 集裝箱 | 14.20 | 11.46 | 23.91 | | －折合標準箱(TEUs) | 1,226,667 | 873,588 | 40.42 | | 雜貨及其他貨品 | 24.19 | 22.52 | 7.42 | | 總計 | 317.02 | 300.33 | 5.56 | 1 ...

Core Viewpoint - Guangzhou Port (601228.SH) anticipates a slight decline in container throughput for September 2025, while projecting an increase in cargo throughput [1] Group 1: Container Throughput - The company expects to achieve a container throughput of 2.051 million TEUs in September 2025, representing a year-on-year decrease of 0.8% [1] - For the period from January to September 2025, the projected container throughput is 20.165 million TEUs, reflecting a year-on-year increase of 7.0% [1] Group 2: Cargo Throughput - The anticipated cargo throughput for September 2025 is 47.845 million tons, which indicates a year-on-year growth of 4.1% [1] - From January to September 2025, the expected cargo throughput is 433.678 million tons, showing a year-on-year increase of 2.7% [1]

Core Points - The company reported a total cargo throughput of 32,066,800 tons for August 2025, representing a year-on-year increase of 4.97% [1] - The total cargo throughput for the year-to-date reached 236,699,300 tons, showing a year-on-year increase of 10.14% [1] - Container throughput for August 2025 was 854,800 TEUs, which is a 12.36% increase compared to the same month last year [1] - Year-to-date container throughput reached 6,405,600 TEUs, reflecting a 10.12% increase year-on-year [1] Summary by Category Cargo Throughput - August 2025 cargo throughput: 32,066,800 tons, up 4.97% year-on-year [1] - Year-to-date cargo throughput: 236,699,300 tons, up 10.14% year-on-year [1] Container Throughput - August 2025 container throughput: 854,800 TEUs, up 12.36% year-on-year [1] - Year-to-date container throughput: 6,405,600 TEUs, up 10.12% year-on-year [1]

Core Viewpoint - The company, Guangzhou Port, anticipates a steady growth in container and cargo throughput for the year 2025, indicating a positive outlook for its operational performance [1] Container Throughput - For August 2025, the company expects to achieve a container throughput of 2.319 million TEUs, representing a year-on-year increase of 1.2% [1] - From January to August 2025, the projected container throughput is 18.037 million TEUs, reflecting a year-on-year growth of 7.5% [1] Cargo Throughput - The company forecasts a cargo throughput of 49.878 million tons for August 2025, which is a year-on-year increase of 2.0% [1] - For the period from January to August 2025, the expected cargo throughput is 385.870 million tons, showing a year-on-year growth of 2.5% [1]

Investment Rating - The industry investment rating is "Positive" [2] Core Viewpoints - Container throughput growth is steady, while bulk cargo throughput is gradually stabilizing [2] - Overall throughput performance is stable, maintaining a "Positive" rating for the shipping and port sector [7] Summary by Sections Overview: National Import and Export Total and Cargo Throughput Situation - In the first four months of 2025, the national import and export total reached 14.14 trillion yuan, a year-on-year increase of 2.4%. The import total was 5.75 trillion yuan, down 4.2%, while the export total was 8.39 trillion yuan, up 7.5% [4][14] - Coastal major ports' cargo throughput reached 3.702 billion tons, a year-on-year increase of 1.9% [4][31] Container: Shipping Rates and Container Throughput Situation - From January to April 2025, coastal major ports' container throughput reached 9.88 million TEUs, a year-on-year increase of 8.1% [4][41] - As of June 6, 2025, the China Container Freight Index (CCFI) was 1154.98 points, down 22.79% year-on-year, while the Shanghai Container Freight Index (SCFI) was 2240.35 points, down 26.42% year-on-year [35][36] Liquid Bulk: Oil Shipping Rates and Crude Oil Throughput Situation - As of June 6, 2025, the Baltic Dirty Tanker Index (BDTI) was 951 points, down 24.94% year-on-year [43] - From January to April 2025, crude oil imports reached 183 million tons, a year-on-year increase of 0.5% [51] Dry Bulk: Shipping Rates and Iron Ore, Coal Throughput Situation - As of June 6, 2025, the Baltic Dry Index (BDI) was 1633 points, down 13.18% year-on-year [59] - From January to April 2025, iron ore throughput at major ports reached 450 million tons, a year-on-year increase of 0.07% [65] Monthly Throughput Situation of Key Port Listed Companies - In April 2025, Shanghai Port's cargo throughput was 0.51 billion tons, with container throughput of 450.10 thousand TEUs, reflecting a year-on-year increase of 3.40% and 7.65% respectively [76]