（原标题：前海首次实现国际船舶1小时转籍落户） 21世纪经济报道记者 陈思琦 深圳报道 9月22日，国际航行汽车运输船"长泰鸿"轮仅用1小时办结原本需20余天的船舶转籍，完成36本证书注销 与重新申领，成功转籍落户"中国前海"。 21世纪经济报道记者获悉，这是全国首次采用"1小时落户中国前海"的船舶登记创新举措，船舶登记模 式从"串联慢跑"变成"并联快办"，开辟了国际船舶落户前海的新阶段。 船舶转籍，好比船舶更换"户口"，需要将原有船舶证书注销再重新登记，以变更船舶所有权、船籍港等 关键信息。该流程涉及多个行政管理部门，审批手续环环相扣，标准办理周期为20余天。 在前海试行国际船舶登记制度改革是首批深圳综合改革试点的重要内容。今年6月，中办、国办发布 《关于深入推进深圳综合改革试点深化改革创新扩大开放的意见》，"深化国际航行船舶相关配套制度 改革"再被写入。 从9月22日起，采用该制度将船舶落户"中国前海"，只需在海事部门统筹协调下，将其船舶转籍所需的 申办材料在多个部门行政审批节点预审预检，待准备成熟后便触发各部门预设的协同办理机制，立即启 动多线同步作业，并行推进各审批环节，将办理周期压缩至一小时，大幅降 ...

（编辑 任世碧） 证券日报网讯 9月25日晚间，招商轮船发布公告称，2025年9月24日，公司通过下属控股单船公司在大 连接收了1艘17.5万立方米大型液化天然气（LNG）运输船"海韵"轮。该轮为公司2022年第一批订造的2 艘同型节能环保LNG运输船的第1艘。截至本公告发布之日，公司LNG运输板块（含参股企业CLNG） 管理营运中的船舶27艘，在手订单37艘。预计2025年内参股企业CLNG参与的卡气一期项目还将交付3 艘LNG运输船。 ...

证券日报网讯 9月25日晚间，招商轮船发布公告称，2025年9月25日，公司通过下属全资单船公司在扬 州仪征接收了1艘82，000载重吨级的卡姆萨型干散货船"明福"轮。该轮为公司2023年订造的4艘新型节 能环保卡姆萨型干散货船的第1艘，采用新一代节能环保设计，配置轴带式发电机等节能设备，能效和 节能环保指标大幅优于公司现有的6艘7.6万载重吨级巴拿马型散货船。 （文章来源：证券日报） ...

Major Events - China Merchants Energy announced the delivery of two new vessels, including a 175,000 cubic meter LNG carrier "Haiyun" and an 82,000-ton bulk carrier "Mingfu," expanding its fleet to 27 LNG vessels and 103 bulk carriers, with 37 and 15 orders respectively [4][4] - Fangzheng Technology launched three AI English learning products, marking a strategic expansion into the emotional companionship and family smart education sectors for young children [5] - Saisir received approval from the China Securities Regulatory Commission to issue up to 331 million H-shares for listing on the Hong Kong Stock Exchange [6] Performance Forecasts - Jihong Co. expects a net profit of 209 to 222 million yuan for the first three quarters of 2025, representing a year-on-year increase of 55% to 65%, driven by the growth of cross-border social e-commerce and improved profitability in packaging [7] Major Contracts - State Grid Information Communication announced that its subsidiary won a procurement project from the State Grid Corporation worth 605 million yuan [8] - China Railway announced it has won 11 major engineering projects with a total bid price of approximately 50.215 billion yuan, accounting for 4.34% of its expected revenue for 2024 [9] - Dongjie Intelligent signed a framework agreement with Malaysian construction company PTTSG to develop automated warehousing facilities, with potential future contracts [10] Shareholding Changes - Milkway announced that its controlling shareholder and other stakeholders plan to reduce their holdings by up to 4.02% [12] Financing Activities - Pana Microelectronics plans to raise up to 699 million yuan through a private placement to fund various projects, including intelligent manufacturing upgrades and working capital [13]

Investment Chain - Prices of copper, aluminum, zinc, lead, gold, and silver have risen since September 2025. Fixed asset investment growth rate has decreased to 0.50%, with real estate development investment declining by 12.90% and manufacturing fixed asset investment growth at 5.10% [1] - Infrastructure investment growth rate has also decreased to 5.42%. Prices of tin and nickel have fallen, while the price of thermal coal has slightly increased to 676 RMB per ton [1] Consumption Chain - In August 2025, automobile sales growth rate increased to 16.44%, while home appliance retail sales growth rate decreased to 19.90%. The nominal growth rate of social consumption fell to 3.40% [2] - The cumulative nominal growth rate has decreased by 4.60%, and the sales area of commercial housing has seen a decline of 5.44% [2] Export Chain - In August 2025, export growth rate to the US decreased, while it increased for the EU, Japan, and ASEAN. The overall export growth rate rose to 25.52% [3] - Exports of furniture, refined oil, coke, ships, plastics, and auto parts have seen an increase, while agricultural products, toys, lighting, coal, steel, and aluminum exports have decreased [3] Price Chain - Oil prices have risen to 63.41 USD per barrel as of September 23, 2025. Prices for PVC have increased to 4695 RMB per ton, while prices for MDI have decreased [4] - Pork prices have dropped to 13.71 RMB per kilogram, and the price of domestic urea has also decreased compared to July 2025 [4]

Core Points - The "Istanbul Bridge" vessel completed loading over 1,000 TEUs at Ningbo-Zhoushan Port and set sail for Felixstowe, UK, marking a new record for transit time of 18 days via the Arctic Northeast Route, distinct from traditional routes [2][3] - This event signifies the official launch of the world's first Arctic container fast shipping route between China and Europe [3] Group 1: Impact of Poland's Actions - Poland's decision to close its border with Belarus due to military tensions with Russia led to a significant disruption of the China-Europe Railway Express, effectively halting operations on the Belarus-Poland segment [4][5][8] - The closure was premeditated, as evidenced by the timeline of events surrounding the military exercises, indicating a strategic rather than reactive decision by Poland [9][10] - Despite the disruption, alternative routes such as the Southern Corridor remain available, allowing for continued freight movement, albeit at higher costs [12][13] Group 2: Arctic Route Advantages - The Arctic route offers a new option for freight transport, although it operates under different conditions compared to the China-Europe Railway Express, with a limited operational window from April to November [14][20] - The vessel's capacity is significantly lower than that of traditional freight trains, but the Arctic route's cost-effectiveness and time efficiency may attract some cargo away from the railway [15][16] - The efficiency demonstrated by the shipping company in organizing the Arctic route within a short timeframe highlights China's logistical capabilities and proactive market strategies [20][21] Group 3: Market Dynamics - The disruption of the China-Europe Railway Express may lead to a shift in cargo volumes, with potential losses for Poland as a transit hub, while the Arctic route could capture some of this freight [15][16] - The operational model of using state-owned enterprises for initial exploration followed by private companies for commercial operations exemplifies a successful strategy for navigating market challenges [21]

Group 1 - The shipping sector experienced a decline of 1.52%, ranking among the top declines in concept sectors, with notable drops in stocks such as Nanjing Port and Ningbo Maritime [1][2] - Among the stocks in the shipping sector, 11 stocks saw price increases, with China National Foreign Trade rising by 7.44%, Lege Co. by 2.70%, and Rongfa Nuclear Power by 2.17% [1][4] - The shipping sector faced a net outflow of 9.67 billion yuan from major funds, with 54 stocks experiencing net outflows, and China Shipbuilding leading with a net outflow of 1.60 billion yuan [2][3] Group 2 - Major stocks with significant net outflows included China Shipbuilding (-0.85%), China Merchants Energy (-3.46%), and Junzheng Group (-1.14%) [2][3] - Conversely, stocks with notable net inflows included CIMC Group (86.19 million yuan), Shanghai Port Group (25.20 million yuan), and Tangshan Port (23.27 million yuan) [2][4] - The shipping sector's performance was characterized by a mix of declines and a few gains, indicating volatility within the market [1][2]

Market Closure Arrangements - Shanghai Stock Exchange will be closed from October 1 to October 8, 2025, and will resume trading on October 9, 2025 [1] - Shenzhen Stock Exchange will have the same closure schedule as Shanghai, with trading resuming on October 9, 2025 [2] 6G Adoption Forecast - By 2035, approximately 22.3% of global users are expected to adopt 6G technology, compared to 26.6% for 5G at the same development stage [3] AI Investment Growth - Global AI IT investment is projected to reach $1261.9 billion by 2029, with a compound annual growth rate (CAGR) of 31.9% from $315.9 billion in 2024 [4] - The generative AI market is expected to grow at a CAGR of 56.3%, reaching $607.1 billion by 2029, accounting for 48.1% of total AI market investment [4] NAND Flash Price Increase - NAND Flash prices are expected to rise by 5-10% in Q4 due to demand shifts towards QLC Enterprise SSDs and supply shortages in HDDs [5] Second-Hand Car Market - The second-hand car transaction volume in China is expected to reach 1.77 million units in September, reflecting a 4.5% increase compared to the same period in August [5] Fund Manager Incident - West China Li De Fund has terminated the employment of its bond fund manager due to gambling-related administrative detention, emphasizing a commitment to enhancing employee conduct management [6] Company Announcements - Saisir has received approval from the China Securities Regulatory Commission for the issuance of up to 331 million H-shares [7] - China Communication Signal has won four significant railway projects totaling approximately 1.36 billion yuan, representing 4.19% of its projected 2024 revenue [8] - China Railway has secured 11 major engineering projects with a total bid price of approximately 50.215 billion yuan, accounting for 4.34% of its expected 2024 revenue [9] - China Merchants Energy has taken delivery of two new ships, expanding its LNG and dry bulk fleet [10] - Jihong Co. anticipates a net profit increase of 55-65% year-on-year for the first three quarters of 2025 [11] - Dongjie Intelligent has signed a framework agreement for a 3.387 billion yuan automated warehousing project in Malaysia [12] - Hongrun Construction has pre-qualified for a 1.36 billion yuan EPC project [13] - Huakang Clean has won a 136 million yuan engineering project for a new hospital facility [14] Market Performance - The ChiNext Index rose by 1.58%, reaching a three-year high, with significant trading volume and multiple stocks hitting record highs [15]

Group 1 - China Communications Signal (中国通号) won four significant railway projects with a total bid amount of approximately 1.36 billion yuan, accounting for about 4.19% of the company's audited revenue for 2024 [1] - China Railway (中国中铁) secured 11 major engineering projects with a total bid price of approximately 50.215 billion yuan, representing about 4.34% of the company's audited revenue for 2024 [2] - China Merchants Energy (招商轮船) received two new ships, including a 175,000 cubic meter LNG carrier and an 82,000-ton bulk carrier, expanding its fleet to 27 LNG vessels and 103 bulk carriers [3][4] Group 2 - North Medical (北大医药) obtained a drug registration certificate for Apremilast tablets, used for treating moderate to severe plaque psoriasis in adults [5] - Jihong Co. (吉宏股份) projected a net profit increase of 55%-65% year-on-year for the first three quarters of 2025, estimating a profit of 209 million to 222 million yuan [6] - Dongjie Intelligent (东杰智能) signed a framework agreement with a Malaysian construction company for an automated warehousing project valued at approximately 3.387 billion yuan [9] Group 3 - New Link Electronics (新联电子) won a procurement project from the State Grid with a total bid amount of 55.7756 million yuan [10] - Macro Construction (宏润建设) is expected to be awarded an EPC project with a bid price of 1.36 billion yuan [12] - Huakang Clean (华康洁净) secured a project for medical purification engineering with a bid price of 136 million yuan [22] Group 4 - New Nuo Wei (新诺威) received approval for clinical trials of its monoclonal antibody injection for Alzheimer's disease [23] - Changgao Electric (长高电新) won multiple procurement projects from the State Grid with a total bid amount of 313 million yuan, accounting for 17.77% of the company's audited revenue for 2024 [24] - Tian Shili (天士力) received approval for clinical trials of TSL2109 capsules for late-stage solid tumors [25] Group 5 - China Giant (中国巨石) announced a share buyback plan to repurchase 30 million to 40 million shares at a price not exceeding 22 yuan per share [48] - Dalong Real Estate (大龙地产) is in the process of acquiring a 60% stake in Beijing Chengzhu Real Estate Company [50]

Group 1 - Domestic commodity futures market experienced widespread increases on September 25, with major contracts such as shipping European routes, international copper, and glass rising over 3% [1][2] - The China Securities Commodity Futures Price Index closed at 1468.33 points, up 13.64 points or 0.94% from the previous trading day [1] - The shipping European route continued its upward trend, with the main contract closing up 3.99%, driven by good cargo collection and stable current cabin quotes [2] Group 2 - International copper and Shanghai copper futures opened higher, reaching a six-month high, with respective increases of 3.58% and 3.40% due to supply disruptions from Freeport's Grasberg mine [3] - The suspension of operations at Grasberg is expected to tighten global copper supply further, with forecasts indicating a continued decline in supply growth through 2026 [3] - Other commodities such as glass, rapeseed oil, and coke also saw significant price increases, with glass futures closing up 3.08% [3] Group 3 - Precious metals experienced slight adjustments, with Shanghai gold down 0.45% while silver saw a minor increase, influenced by profit-taking and a lack of new stimuli [4] - Long-term bullish factors for gold remain, including rising U.S. debt and ongoing central bank purchases, despite short-term fluctuations [4] - Natural rubber and No. 20 rubber contracts saw slight declines, with limited impact from weather disturbances, as the Southeast Asian production season is expected to increase output [5]