地区生产总值同比增长5.4%，规模以上工业增加值同比增长7.2%，外贸进出口总值同比增长17.3%…… 这是南通前三季度交出的"发展答卷"。开发园区作为经济主战场，其蓬勃发展的态势为南通高质量发展 注入了强劲动力。 园区干部队伍的精气神与战斗力，直接关乎园区发展的速度与质量。近年来，南通深刻把握发展脉动， 聚焦"活力充盈、本领高强"这一核心要素，着力打造一支"善谋事、能扛事、干成事"的高素质专业化园 区干部队伍，不断激发全市上下干事创业的热情与潜能，为高质量发展夯实人才基础。 精准谋划，建好干部"蓄水池" 通州湾示范区中试基地主体建筑全部封顶，海门开发区嘉吉粮油迁建项目正式开工，启东吕四港开发区 惠生海工智能制造基地建设如火如荼……今年以来，南通各园区竞相发力，项目招引与产业升级呈现百 舸争流之势。 一般公共预算收入55.4亿元，增长2.5%，税占比78.6%；工业用电量累计67.4亿千瓦时，增长 10.13%……1—9月，南通经济技术开发区多项经济指标继续领跑全市，展现了园区干部奋发向上的精 气神。 干部活力是园区活力的源泉。南通市制定出台《关于用好职级资源激励干部担当作为的若干意见》，在 全市深入开展"求 ...

（编辑 袁冠琳） 证券日报网讯 中集集团11月24日发布公告，在公司回答调研者提问时表示，2024年中集来福士揽获2艘 FPSO船体总包订单（"P-84"号和"P-85"号），2025年8月交付FPSOP-83船体，目前为巴西国油交付和在 建的浮式平台达到六艘。公司是国内唯二获巴西国油FPSO总包资质的企业，同时项目管理能力突出， 在交付期管理、质量管控上都具有优势，在全球FPSO建造领域处于领先地位。关于后续新项目进展， 公司会按规定及时履行信息披露义务。 ...

南财智讯11月24日电，中集集团在投资者关系活动中表示，2024年中集来福士揽获2艘FPSO船体总包订 单，2025年8月交付FPSOP-83船体，目前为巴西国油交付和在建的浮式平台达六艘。公司是国内唯一获 得巴西国油FPSO总包资质的企业，在项目管理、交付期控制和质量管控方面具备优势，在全球FPSO建 造领域处于领先地位。后续新项目进展将按规定及时履行信息披露义务。 ...

证券代码：000039、299901 证券简称：中集集团、中集 H 代 中国国际海运集装箱（集团）股份有限公司 储能业务是我们重点发展的新兴战略领域之一，近年来业务持续 进阶壮大，已成为公司高质量发展的重要动能之一。今年以来， 受益于储能放量，市场对公司储能箱体及储能系统集成的需求也 有显著增长。公司储能业务立足"制造集成+全链服务"优势，坚 持传统客户深化与新客户拓展并举，出货规模稳步提升，体现出 良好的发展势头和韧劲。当前，中集储能装备已广泛交付至亚洲、 北美、欧洲等全球主要市场，储能装备累计出货量超 60GWh，处 于全球领先地位；同时，中集储能持续拓展多元化应用场景，推 进新技术研发与产品创新，已成功在城市超充、绿色交通、港口 岸电、数据中心、高耗能工业等场景落地示范性项目，产品力与 交付力获市场认可。感谢您的关注！ 投资者关系活动记录表 编号：2025-16 投 资 者 关 系 活 动类别 □特定对象调研 □分析师会议 □媒体采访 √业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 （请文字说明其他活动内容） 参 与 单 位 名 称 及人员姓名 投资者网上提问 时间 2025 年 11 月 ...

编号：2025-17 | □特定对象调研 | □分析师会议 | □媒体采访 | □业绩说明会 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 投 | 资 | 者 | 关 | 系 | 活 | □新闻发布会 | √路演活动 | 动类别 | | | | √现场参观 | □其他 | （请文字说明其他活动内容） | | | | | | | | | | 参加此次现场调研的机构有： | 瑞银证券、Citi | 花旗银行、野村东方国际证券、CLSA | 中信 | UBS | | | | | | | | 参 | 与 | 单 | 位 | 名 | 称 | 里昂、华泰证券、长江证券、中金公司、North | Capital、淡 | Rock | 及人员姓名 | 水泉投资、招商局资本、中银基金、国新投资、阳光资产、中汇 | | 人寿保险、西部利得基金、百年保险资管、泓德基金、超扬天辰、 | 上海开思基金、运舟资本、爱建证券等 | | | | | | | | | | | 时间 | 年 | 月 | 日 | 2025 ...

Core Insights - The "Genghai No. 1" modern marine ranch complex in Yantai, Shandong, represents a significant investment of 320 million yuan, yielding an annual harvest of 150,000 kg of high-quality seawater fish and attracting 150,000 visitors, while reducing carbon emissions by approximately 1,000 tons [1] - The project integrates innovative practices such as "fishing-light complementary" and "multi-dimensional cultivation of shellfish and algae," establishing a new paradigm of "marine ranching + ecological restoration + smart tourism" [1] - Financial tools like "marine ranch equipment loans," "carbon sink revenue rights pledge loans," and "smart net box comprehensive insurance" have empowered the transformation of the marine economy [1] Financial Support and Policy Framework - The People's Bank of China Yantai Branch has initiated a "blue-green integration" development strategy, focusing on ecological, low-carbon, and sustainable transitions in the marine economy [2] - Yantai has developed the first national blue finance local standard, which includes a qualitative and quantitative indicator system for marine sub-industries, enhancing the effectiveness of blue finance services [2] - Collaborative measures have been established among various departments to support blue-green integration, including the issuance of financial products that activate blue carbon economic potential [2] Collaborative Efforts - The Yantai Branch has created a financial coordination mechanism with local government departments to facilitate information sharing and project collaboration, establishing a marine industry project database [3] - Financial institutions are encouraged to develop specialized service systems to meet the financing needs of marine industries, with significant loan support for marine ranch projects [3] - A total of 36 specialized marine financial institutions have been established in Yantai to support high-quality development in the marine economy [3] Ecological Value Realization - The integration of blue and green economies in Yantai is not only an economic initiative but also a significant improvement in livelihoods and ecological benefits [4] - The first loan of 4.9 million yuan based on ecological product value has been issued, allowing for the monetization of ecological benefits such as carbon fixation and water purification [4] - A long-term cooperation mechanism has been established to account for ecological product values and apply them in financial contexts, expanding the model to other green development areas [5] Product Innovation - Financial institutions in Yantai are developing innovative financial products to support the high-quality development of the marine economy, including syndicate loans and ecological environment-oriented project loans [6] - A total of 2 billion yuan has been allocated for the first EOD (Ecological Environment-Oriented Development) project loan in the province, facilitating the integration of ecological governance and industrial development [6] - Financial institutions have provided credit support of 2.93 billion yuan for three EOD projects, with 1.361 billion yuan disbursed in loans [6]

看好降息周期下 FPSO 订单加速释放 20251116 高利率环境对 FPSO 订单释放有何影响？降息周期将带来哪些变化？ 摘要 深海油气开发成本降低，南美地区成本竞争力突出，低于部分陆上油气 产区，推动全球油气开发向深海转移。截至 2024 年，深海油气开发占 比虽仅 7%，但过去十年新探明储量 70%以上位于深海，深海开发成趋 势。 FPSO 作为深海油气开发核心设施，具备初步加工能力，在远离岸线的 深海油气资源开采中不可或缺。尤其在巴西、圭亚那等地的大规模低成 本开采中，大型 FPSO 更具性价比，迎来战略机遇期。 高利率环境曾挤压 FPSO 总包商利润，延缓订单释放。利率上升导致项 目内部收益率大幅下降，项目被迫推迟。美联储降息周期启动，融资环 境改善，有望加速 FPSO 订单释放，激活已通过最终投资决策的项目。 全球深海行业重心转移至东南亚和南美，带动供应链向亚太地区转移， 中国企业受益于技术和制造能力升级，能够胜任更复杂的高端装备制造 项目，技术突破提升附加值，盈利能力显著增强。 中集集团、中国船舶、博迈科、纽威股份等公司将受益于 FPSO 订单加 速释放。中集集团海工业务占比高，预计 2025 ...

Summary of CIMC Group Conference Call Company Overview - **Company**: China International Marine Containers (Group) Co., Ltd. (CIMC) - **Industry**: Diversified Industrial Manufacturing - **Market Capitalization**: Rmb 42.9 billion / US$ 6.02 billion - **Stock Price (as of November 6, 2025)**: Rmb 7.95 - **12-Month Target Price**: Rmb 10.50 (up from Rmb 8.20) [4][37] Key Points Industry and Business Outlook - **Offshore Engineering Growth**: CIMC's offshore engineering segment is transitioning to high-end marine equipment manufacturing, focusing on FPSO (Floating Production Storage and Offloading) and FLNG (Floating Liquefied Natural Gas) [2][17] - **Deep Sea Resource Development**: The global capital expenditure for deep sea resource extraction is expected to reach US$ 2.7 trillion over the next decade, driving demand for FPSO and other marine engineering orders [2][17] - **Container Business Resilience**: Despite a projected decline in container sales, the demand is expected to remain above historical averages due to easing US-China trade tensions [3][27] Financial Performance and Projections - **Profit Contribution**: The offshore engineering business is projected to contribute an additional Rmb 19 billion in gross profit from 2026 to 2027, with FPSO projects starting construction in 2026 [1][2] - **Container Sales Forecast**: Container sales are expected to be 2.1 million TEU in 2025, declining to 1.4 million TEU in 2026, but still above the historical average [3][27] - **Gross Profit Expectations**: Container gross profit is expected to remain above Rmb 60 billion in 2025-26, despite a projected decline [3][27] Valuation and Rating Changes - **Earnings Forecast Adjustment**: The earnings forecast for 2026-27 has been increased by 6-8%, reflecting better-than-expected container demand and the anticipated contribution from offshore engineering [1][37] - **Target Price Adjustment**: The target price has been raised to Rmb 10.50 based on improved earnings projections and a higher valuation multiple for the offshore engineering segment [4][37] Risks and Market Sentiment - **Geopolitical Risks**: The company's stock performance has been affected by geopolitical uncertainties and trade tensions, which have led to conservative market expectations for future earnings growth [4][34] - **Market Perception**: There is a belief that the market has not fully recognized the potential for profit growth from high-value offshore engineering projects [34] Additional Insights - **Long-term Demand for FPSO**: The demand for FPSO is projected to reach US$ 300 billion over the next decade, with a significant number of potential new orders in the pipeline [19][22] - **Operational Efficiency**: The company is expected to improve its operational efficiency and profitability in the offshore engineering segment as it begins to deliver high-value projects [14][36] Conclusion CIMC Group is positioned for growth in its offshore engineering segment driven by deep sea resource development, while its container business is expected to remain resilient despite market challenges. The upward revision of earnings forecasts and target price reflects a positive outlook for the company's future performance.

Investment Overview - The company has approved an external investment project named "Fosda Marine Engineering and Equipment Intelligent Manufacturing Project" with a total estimated investment of approximately 1 billion RMB [1] - The project will cover a total area of about 505 acres in the Qidong Lusi Port Economic Development Zone [1] Progress of External Investment - The wholly-owned subsidiary project company, Fosda Marine Engineering (Jiangsu) Co., Ltd., has completed its business registration and obtained a business license from the Qidong Data Bureau [2] - The registered capital of the new company is 58.8 million RMB, and it was established on November 10, 2025 [2] - The company will engage in various activities including the manufacturing of marine engineering equipment, underwater systems, and special equipment for oil drilling [2]

Core Viewpoint - Fosda announced plans to invest approximately 1 billion RMB in the "Fosda Marine Engineering and Equipment Intelligent Manufacturing Project" located in the Qidong Lusi Port Economic Development Zone, with a total land and sea area of about 505 acres [2] Investment Details - The project was approved during the fourth board meeting and the third extraordinary shareholders' meeting held on October 13 and October 30, 2025, respectively [2] - The project company will be responsible for bidding for the necessary industrial land and sea, as well as for the investment, construction, and operation of the project [2] - A wholly-owned subsidiary for the project has been registered and has obtained a business license from the Qidong Data Bureau [2]