Group 1 - Hainan Port and Shipping Holdings Co., Ltd. applied for a patent titled "Method and Device for Ship Docking Based on Spatial Avoidance Strategy" with publication number CN120220466A, filed on March 2025 [1] - The patent relates to data processing technology and includes a method for obtaining an optimal docking plan for target ships based on available ships, available berths, and a preset minimum spatial avoidance distance [1] - Hainan Port and Shipping Holdings Co., Ltd. was established in 2004, located in Haikou, with a registered capital of 1,287.58 million RMB, and has invested in 18 companies and participated in 1,121 bidding projects [1] Group 2 - Hainan Strait Shipping Co., Ltd. was established in 2002, also located in Haikou, with a registered capital of 2,228.93 million RMB, and has invested in 12 companies and participated in 456 bidding projects [2] - Hainan Strait Shipping Co., Ltd. holds 21 trademark records and 13 patent records, along with 95 administrative licenses [2]

Group 1: Corporate Announcements - Huasheng Co. plans to acquire 100% of Yixin Technology's shares and will resume trading on June 24, 2025 [1] - Guotou Zhonglu is planning a major asset restructuring and will suspend trading starting June 24, 2025, for up to 10 trading days [1] - Baotailong intends to transfer 55% of its subsidiary Jixi Investment Company for a total transaction price of 300 million yuan [1] Group 2: Investment Projects - Guiguan Electric plans to invest approximately 395 million yuan in the Matian photovoltaic project with a capacity of 100MW [2] - Guangzhou Port's subsidiary intends to invest 14.5 billion yuan in the fifth phase of the Nansha Port project, with a capital increase of 2.809 billion yuan [3] Group 3: Stock Buybacks and Changes - Cambrian has raised its share repurchase price limit to 818.87 yuan per share due to stock price increases [4] - Inspur Information plans to repurchase shares worth 200 million to 300 million yuan at a price not exceeding 75.59 yuan per share [6] Group 4: Mergers and Acquisitions - Hailianxun is planning a share swap to absorb and merge with Hangqilun, with the application accepted by the Shenzhen Stock Exchange [5] - Tianyima intends to acquire 100% of Xingyun Kaiwu's shares, with the specific transaction price yet to be determined [11] Group 5: Listings and Stock Changes - Yaoshi Technology's associate company Yaojie Ankang has been listed on the Hong Kong Stock Exchange, issuing 15.281 million shares at a price of 13.15 HKD per share [9] - Sanhua Intelligent Control's 414 million H-shares were listed on the Hong Kong Stock Exchange on June 23 [10] - Changan Automobile's controlling shareholder has changed its name to "Chen Zhi Automobile Technology Group Co., Ltd." [8]

Economic Overview - The overall economy of the province has stabilized and shown progress, with key indicators such as consumer market, industrial production, and new productivity performing well, indicating a trend towards high-quality development [1] Consumer Market - The consumer market in the province continues to show a steady upward trend, with the total retail sales of social consumer goods in May increasing by 6.3% year-on-year, accelerating by 1.3 percentage points compared to April [1] - From January to May, the total retail sales of social consumer goods grew by 5.6% year-on-year, with a slight acceleration of 0.1 percentage points compared to the previous four months [1] - The "old-for-new" policy has effectively stimulated consumption, with related goods in categories such as automobiles, home appliances, 3C digital products, and home goods achieving a total retail sales of 67.22 billion yuan in May, a year-on-year increase of 18.6% [2] - Green and smart products are experiencing rapid growth, with year-on-year increases in sales of new energy vehicles, smartphones, and energy-efficient appliances ranging from 28.8% to 147.0% [2] Industrial Production - The industrial economy of the province has maintained a relatively fast growth rate, with the added value of industrial enterprises above designated size increasing by 6.2% year-on-year in May [2] - Among the 40 industrial categories, 30 reported year-on-year growth, resulting in a growth coverage of 75% [2] - Key industries such as electronics, automobiles, and aerospace have shown significant growth rates of 13.5%, 11.6%, and 12.7% respectively [2] - High-tech manufacturing and digital product manufacturing have outpaced overall industrial growth, with increases of 9.8% and 9.7% year-on-year [3] Investment Trends - Infrastructure investment has maintained a rapid growth rate, with a year-on-year increase of 8.7% from January to May, contributing 1.3 percentage points to overall investment growth [3] - Significant growth in infrastructure projects with planned total investments of 500 million yuan and above, with increases of 7.2% and 8.8% respectively [3] - Key sectors such as electricity and heat production, water transportation, and internet services have seen investment growth rates of 58.9%, 32.3%, and 49.4% respectively [3]

Core Insights - In May, industrial investment in China increased by 11.6% year-on-year, indicating a robust growth trend in the industrial sector [1] - Investment in the manufacturing sector grew by 8.5%, reflecting ongoing expansion in manufacturing activities [1] - The investment in the electricity, heat, gas, and water production and supply industry surged by 25.4%, highlighting significant growth in energy-related investments [1] Investment Breakdown - First industry investment reached 384.7 billion yuan, with a year-on-year growth of 8.4% [1] - Second industry investment totaled 6,799.6 billion yuan, showing an increase of 11.4% [1] - Third industry investment was 12,010.4 billion yuan, experiencing a slight decline of 0.4% [1] Sector-Specific Insights - Mining industry investment rose by 5.8%, indicating steady growth in resource extraction [1] - Infrastructure investment (excluding electricity, heat, gas, and water production and supply) grew by 5.6%, demonstrating continued commitment to infrastructure development [1] - Notable growth in specific infrastructure sectors included water transportation investment increasing by 27.2%, and water conservancy management investment rising by 26.6% [1]

Company Overview - Fujian Xuhua Shipping Co., Ltd. has been established with a registered capital of 30 million RMB [1] - The legal representative is Wu Yirui, and the company is wholly owned by Guangxi Changhai Shipping Co., Ltd. [1] Business Scope - The company’s business includes domestic cargo transportation agency, ordinary cargo warehousing services, international shipping agency, international shipping management, and non-vessel operating services [1] - It also engages in international container and ordinary cargo transportation, leasing of vessels, domestic container cargo transportation agency, and international cargo transportation agency [1] - Additional services include maritime international cargo transportation agency, air international cargo transportation agency, domestic shipping agency, sales of water transport equipment parts, vessel sales, and human resources services [1] Regulatory Compliance - The company is required to obtain approval for certain projects, including domestic shipping management, inter-provincial ordinary cargo transportation, and inland shipping [1] - The business activities are conducted in accordance with the business license and relevant regulatory approvals [1] Location and Registration - Fujian Xuhua Shipping Co., Ltd. is located in the Haokeng area of Baiqi Township, Quanzhou, Fujian Province [1] - The company is registered as a limited liability company with an indefinite business term [1]

Core Insights - The China Logistics and Purchasing Federation reported that the logistics industry prosperity index for May is 50.6%, indicating continued expansion in the sector [1] - There is a notable increase in consumer logistics demand driven by various factors such as trade-in programs, holiday consumption, and inter-regional travel [1][2] - The logistics sector is experiencing a recovery in business activity, with significant growth in specific regions and industries [1][2] Regional Performance - The central and western regions have business volume indices above the national average, with strong demand in equipment manufacturing, automotive parts, coal logistics, and chemical products logistics [1] - E-commerce platforms reported a year-on-year increase of 10%-15% in logistics order volume for home appliances and communication products in May [1] Industry Activity - The postal and express delivery industry business volume index reached 69.4%, showing a month-on-month increase of 0.8 percentage points [1] - The road transport industry maintained an expansion trend with a business volume index of 51.3%, while the railway transport industry index was at 54.2%, indicating stable demand for bulk transportation [1] Business Operations - The operating vitality of logistics companies is improving, with the enterprise fund turnover rate index remaining above 50% for nine consecutive months [2] - In May, the fund turnover rate index increased by 0.3 percentage points, and the inventory turnover index rose by 0.2 percentage points [2] - Small and micro enterprises showed better improvement in main business profit indices compared to larger enterprises [2] Investment Trends - Fixed asset investment in the logistics sector continues to recover, with indices for road transport, postal and express delivery, air transport, and water transport all showing month-on-month increases [2] - The logistics industry is expected to maintain a positive outlook due to accelerated infrastructure development and investment progress, with business activity expectation indices remaining above 55% for three consecutive months [2]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - In May 2025, the temporary easing of China-US trade negotiations led to the release of previously postponed production demand, driving the PMI to rise. However, there is still uncertainty about the tariff outlook, and the recovery of new orders is relatively slow. The domestic off - season effect is becoming more prominent, and the contribution of domestic demand to new order growth has decreased compared to April [3][9]. - For the bond market, the fundamental conditions still provide support. Considering the historical experience of trade frictions from 2018 - 2019, there may be fluctuations in subsequent tariff policy negotiations. The uncertainty of external conditions may affect expectations, production, and inventory - stocking intentions and rhythms. The "rush - to - export" elasticity in May is not significantly higher than that in April, and the year - on - year increase in May's exports may be lower than expected. In the traditional off - season, the potential for unexpected growth in domestic demand in May is limited, so the bond market is still supported. Attention should be paid to the data verification in June and potential "expectation gaps" [3][41]. 3. Summary by Directory 3.1 Manufacturing PMI: External Disturbances Ease, PMI Moderately Recovers 3.1.1 Supply and Demand: Tariff Disturbances Ease, Production Accelerates Recovery - In May, production increased by 0.9 pct month - on - month to 50.7%, returning to the expansion range. The easing of Sino - US economic and trade negotiations in mid - May slowed the decline in exports, and the demand for existing foreign trade orders was released in an orderly manner, accelerating the production and procurement rhythms compared to April. The procurement volume index increased by 1.3 pct month - on - month to 47.6%, and imports increased by 3.7 pct month - on - month to 47.1%, with the decline significantly narrowing [16]. - Demand stabilized in May, and new orders improved moderately. New orders increased by 0.6 pct month - on - month to 49.8% but remained in the contraction range. After the easing of trade negotiations, export orders recovered marginally, reducing the contraction of new orders. However, the difference between "new orders - new export orders" narrowed, and domestic demand orders decreased due to the off - season, which may limit the recovery of new orders [19]. 3.1.2 Foreign Trade: Negotiations Ease, New Export Orders are Concentratedly Released - In May, the easing of tariff negotiations led to the release of overseas order increments. New export orders and imports increased by 2.8 pct and 3.7 pct month - on - month to 47.5% and 47.1% respectively, with their elasticity restored. Combining the month - on - month changes in April and May, both were better than the same period in previous years, indicating a wider improvement in the foreign trade prosperity of manufacturing enterprises in May [26]. 3.1.3 Price: External Disturbances Narrow, Price Decline Slows - In May, the impact of the traditional off - season became more evident, and the prices of upstream bulk commodities remained weak, causing prices to decline slightly. The purchase price of raw materials and the ex - factory price both decreased by 0.1 pct month - on - month to 46.9% and 44.7% respectively. Although the price continued to weaken marginally, the narrowing of external disturbances slowed the price decline [31]. 3.1.4 Inventory: Increased Procurement Boosts Raw Material Replenishment, and Products are Rapidly De - stocked - In May, with the acceleration of procurement, raw material inventories increased, and downstream de - stocking accelerated. The easing of the negotiation situation accelerated the shipment of downstream exports, and finished product inventories decreased by 0.8 pct month - on - month to 46.5%. As the production rhythm recovered, the material procurement volume increased month - on - month, and raw material inventories increased by 0.4 pct month - on - month to 47.4% [35]. 3.2 Non - manufacturing PMI: The Drag of Real Estate Construction May Continue to Expand, and the Service Industry during the Holiday Season Shows Many Highlights - In May, the non - manufacturing PMI was 50.3%, a month - on - month decrease of 0.1 pct. Among them, the service industry PMI increased by 0.1 pct month - on - month to 50.2%, and the construction industry PMI decreased by 0.9 pct month - on - month to 51.0%, with the expansion continuing to slow due to the drag of real estate construction demand [36]. 3.2.1 Construction Industry - In May, the construction industry PMI continued to decline, while infrastructure demand further strengthened. The new export orders of civil engineering construction rose above 60%, significantly driving the industry PMI to climb for two consecutive months and reach above 62%. The easing of trade negotiations boosted the acceleration of overseas infrastructure investment to some extent. However, the overall construction industry PMI continued to decline, indicating that the activity rhythm of the housing construction industry may have further contracted in May [2][36]. 3.2.2 Service Industry - Holiday consumption boosted the improvement of the service industry PMI. In May, the expansion of the service industry PMI accelerated slightly. The production and new order indices of the information service industry maintained strong expansion. The release of consumption demand during the May Day holiday significantly increased the month - on - month PMI of railway, air, and water transportation industries. The accommodation and catering industries rose above the boom - bust line, ending three consecutive months of contraction [2][36].

Core Viewpoint - The manufacturing PMI in May shows signs of recovery, indicating the effectiveness of proactive macro policies, while the non-manufacturing sector continues to expand, laying a solid foundation for economic recovery [1][3][9]. Manufacturing Sector - The manufacturing PMI for May is reported at 49.5%, an increase of 0.5 percentage points from the previous month, while the comprehensive PMI output index is at 50.4%, up by 0.2 percentage points [1]. - Key sub-indices such as production, new orders, and procurement have shown improvement, with increases ranging from 0.2 to 3.7 percentage points [3]. - High-tech manufacturing PMI remains in the expansion zone at 50.9%, marking four consecutive months of growth [2][3]. Non-Manufacturing Sector - The non-manufacturing business activity index stands at 50.3%, maintaining above the expansion threshold for five consecutive months [9]. - Significant growth in new orders and export orders in the equipment manufacturing and high-tech sectors, with new export orders rising over 5 and 3 percentage points respectively [4][10]. Price Indices - The purchasing price index for manufacturing is at 46.9%, and the factory price index is at 44.7%, both showing a slight decrease but with a narrowing decline compared to the previous month [6]. - The overall market price decline has slowed, indicating a potential stabilization in demand and production [6]. Employment and Investment - Production investment is showing signs of recovery, contributing to an improving employment situation [7]. - The focus is on activating the domestic market and achieving the goal of expanding domestic demand to support economic circulation [7]. Economic Outlook - The overall economic operation shows a foundation for continued recovery, supported by stable non-manufacturing activities and positive performance in investment, consumption, and exports [8][10].

Group 1: Manufacturing Sector - The manufacturing production index increased by over 4 percentage points, reaching above 54%, maintaining above 50% for 10 consecutive months [1] - The manufacturing PMI for May was reported at 49.5%, up 0.5 percentage points from the previous month, indicating a recovery in manufacturing activity [1] - The new export orders index rose to 47.5%, an increase of 2.8 percentage points, suggesting a slowdown in the decline of manufacturing exports [4] - The production index for manufacturing returned to the expansion zone at 50.7%, up 0.9 percentage points from the previous month [5] - Large enterprises reported a PMI of 50.7%, with a production index increase of 1.7 percentage points, indicating a strong recovery in supply and demand [5] Group 2: Non-Manufacturing Sector - The non-manufacturing business activity index was at 50.3%, a slight decrease of 0.1 percentage points, but still indicating expansion [10] - The civil engineering construction industry saw a significant increase in new export orders, with the business activity index rising to over 60% [10] - The telecommunications services business activity index rose to over 60%, reflecting strong demand in the sector [10][11] - The information services sector continues to show growth potential, supported by policy measures and sustained market demand [11]

海航科技股份有限公司 股东会议事规则 （2025年第一次临时股东大会审议通过） 第一章 总则 第一条 为规范海航科技股份有限公司（以下简称"本公司"、"公司"） 行为，保证股东会依法行使职权，根据《中华人民共和国公司法》(以下简称 《公司法》)、《中华人民共和国证券法》（以下简称《证券法》）、中国证券 监督管理委员会发布的有关规章和《海航科技股份有限公司章程》（以下简称 公司章程）的规定，制定本规则。 第二条 公司股东会的召集、提案、通知、召开等事项适用本规则。 第三条 公司应当严格按照法律、行政法规、公司章程及本规则的相关规定 召开股东会，保证股东能够依法行使权利。公司董事会应当切实履行职责，认 真、按时组织股东会。公司全体董事应当勤勉尽责，确保股东会正常召开和依 法行使职权。 第四条 股东会应当在《公司法》和公司章程规定的范围内行使职权。 第五条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次， 应当于上一会计年度结束后的六个月内举行。临时股东会不定期召开，出现 《公司法》第一百一十三条规定的应当召开临时股东会的情形时，临时股东会 应当在两个月内召开。上述期限内不能召开股东会的，应当报告公司所在 ...