登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600190 /900952 证券简称：*ST锦港 /*ST锦港B 公告编号：2025-079 锦州港股份有限公司2024年年度股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (二)股东大会召开的地点：公司会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ 注：根据中国证监会辽宁监管局出具的《行政监管措施决定书》（[2025]9号，以下简称"《决定 书》"）显示："股东西藏海涵交通发展有限公司（以下简称"西藏海涵"）、西藏天圣交通发展投资有限 公司（以下简称"西藏天圣"）为锦州港股份有限公司（以下简称"公司""锦州港"）股东，自2016年3月 28日起，西藏海涵、西藏天圣受同一主体刘辉控制，根据规定构成一致行动人，成为锦州港第一大股 东。 西藏海涵、西藏天圣合并持有锦州港股份超过20%，未编制详式权益变动报告并按要求披露相关信息， 且未聘请财务顾问对 ...

Group 1 - The company is named Liaoning Port Co., Ltd. and was established as a foreign-invested joint-stock company in China [3][4] - The company was approved to issue overseas listed foreign shares in March 2006 and listed on the Hong Kong Stock Exchange in April 2006 [2] - The company has undergone multiple rounds of stock issuance, including A-shares and H-shares, with significant amounts such as 9,728,893,454 A-shares issued in January 2021 [2][9] Group 2 - The company's registered capital is RMB 23,905,474,669, with a total of 23,905,474,669 shares issued, all of which are ordinary shares [9][25] - The shareholding structure indicates that domestic investors hold 78.42% of the shares, while foreign investors hold 21.58% [9][25] - The company is governed by its articles of association, which are legally binding for the company, its shareholders, directors, and senior management [4][10] Group 3 - The company's business scope includes port services such as cargo handling, transportation, warehousing, and logistics services [6][14] - The company aims to provide high-quality, efficient, and environmentally friendly port services, aspiring to become a competitive international logistics operator [14][6] - The company is allowed to adjust its business scope based on market changes and its operational capabilities, subject to shareholder approval [6][14]

Group 1 - The core viewpoint of the news is that Guangzhou Port has experienced a significant increase in the export of used cars, with a year-on-year growth of 415.4% from January to May 2023, indicating a strong market demand and the emergence of used car export as a new growth driver [1] - Guangzhou Port has established the first used car export service base in Nansha District in collaboration with Guangwu Youche, which has completed multiple comprehensive services for used car exports, achieving a business volume increase of 170% during the same period [1] - To enhance the efficiency of used car export customs clearance, Nansha Customs has streamlined the entire export supervision process, utilizing platforms like "Smart Port" and "Intelligent Monitoring" to improve regulatory effectiveness and transparency [1] Group 2 - The Nansha Automotive Export Base's license service station commenced operations in 2023, providing services for new and used car exports, including licensing, transfer for export, and cancellation, thereby improving export efficiency [2] - In 2024, the service station has completed over 10,000 used car transfer for export transactions, and with the continuous enhancement of service capabilities and strong market demand, the business volume is expected to maintain growth in 2025 [2] - Guangzhou Port is positioning itself as a key node for China's automotive exports, building a comprehensive platform with integrated service functions and significant industrial agglomeration effects, which supports the automotive industry in the Guangdong-Hong Kong-Macao Greater Bay Area and connects domestic and international markets [1]

证券研究报 告 【策略专题】 分红能力盘点：周期&公用篇 ——自由现金流资产系列 12 工业金属：25Q1 现金流比例 33%，具备较大股东回报提升空间 石化：25Q1 现金流比例 26%，盈利周期熨平、现金流稳定 港口： 25Q1 现金流比例 33%，市场或已充分认知其稳定现金创造能力 2）行业逻辑演变带来现金流改善：航运受益于近年来地缘事件频繁、运价 大波动的时代背景，农业则正发生开支周期转向平稳阶段的积极变化： 航运：25Q1 现金流比例 41%，地缘事件频繁、运价大波动时代 农业：25Q1 现金流比例 34%，开支周期进入平稳阶段 3）景气周期承压：虽然资本开支力度下降，但 EPS 压力较大，包括煤炭、 钢铁、建材、航空机场、地产： 煤炭：25Q1 现金流比例 25%，煤价下跌与开支高位持续矛盾 钢铁：25Q1 现金流比例 42%，去库影响显著 建材：25Q1 现金流比例 28%，股东回报提升空间有限 航空机场：25Q1 现金流比例 64%，盈利规模与疫情前接近 地产：25Q1 现金流阶段性修复，去库补充现金流 4）仍处高资本开支阶段：资本开支力度均在 2 以上，行业逻辑仍以扩张为 主，包括贵金属、能 ...

Group 1 - The Shanghai Composite Index opened lower and fluctuated, with the CSI 300 Transportation Infrastructure Index reported at 1307.84 points [1] - The CSI 300 Transportation Infrastructure Index has decreased by 1.18% over the past month, 1.77% over the past three months, and 7.38% year-to-date [1] - The CSI 300 Index categorizes its 300 sample stocks into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] Group 2 - The CSI 300 Transportation Infrastructure Index has a market share of 71.89% from the Shanghai Stock Exchange and 28.11% from the Shenzhen Stock Exchange [1] - Within the CSI 300 Transportation Infrastructure Index, the airport sector accounts for 44.63%, the highway sector for 36.91%, and the port sector for 18.47% [1] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2]

Core Viewpoint - The construction of the Qingdao International Shipping Center is a strategic initiative aimed at enhancing the port's role in global shipping and supporting national development strategies, with a focus on innovation, openness, and high-quality economic development [2][8]. Strategic Blueprint - In 2024, Qingdao released a three-year action plan to establish itself as a Northeast Asia shipping hub, with a dedicated task force led by city officials to oversee the initiative [3]. - The task force has held over 20 meetings to address practical challenges, demonstrating a commitment to rapid response, proactive planning, and high-quality execution [3]. Infrastructure Development - Qingdao Port is undergoing significant infrastructure upgrades, with 15 major projects planned for 2025, totaling an investment of 77 billion yuan, aimed at enhancing cargo handling capacity [4]. - The construction of the Dongjiakou Port area is expected to increase cargo throughput capacity to over 700 million tons, effectively doubling the port's capabilities [4]. Shipping Network Expansion - Qingdao Port has expanded its shipping routes, adding 13 new "Belt and Road" routes and 18 foreign trade routes in 2024, enhancing its logistics network across land and sea [5]. - The port aims to create a seamless logistics network that connects Shandong, the Yellow River basin, Central Asia, and the global market [5]. Technological Innovation - The port is implementing advanced automation technologies, achieving significant efficiency improvements in cargo handling, with a record of 62.62 natural boxes per hour for crane operations [6]. - The development of an industrial internet platform has enabled the port to transition from isolated intelligence to comprehensive data-driven operations [6]. Green Transformation - Qingdao Port is pioneering green shipping initiatives, including the use of biofuels and hydrogen-powered vessels, marking significant steps towards sustainable operations [7]. - The port has developed a carbon footprint accounting platform and aims to achieve 100% clean energy for short-distance vehicles by 2025 [7]. Global Connectivity - The port's strategic location and innovative policies are designed to attract international shipping alliances, enhancing its competitive edge in the global shipping industry [7][8]. - The focus on service capability and innovation ecosystem is central to the port's strategy to establish itself as a world-class shipping center [8].

Meeting Details - The shareholder meeting was held on June 25, 2025, with specific time slots for different sessions [2] - A total of 325 shareholders and representatives attended the meeting, representing 327,604,671 shares, which is 66.8706% of the total share capital [2] Voting Results - The meeting approved the election of Mr. Zhu Tongcai and Mr. Zhang Chuanping as directors of the eighth board [3] - Mr. Zhu Tongcai received 99.8017% approval from the voting shareholders, with 911,159 shares from small shareholders representing 58.2595% of their voting rights [3] - Mr. Zhang Chuanping received 99.8034% approval, with 916,877 shares from small shareholders representing 58.6251% of their voting rights [3] Legal Opinions - The legal opinion from Jiangsu Taihe Law Firm confirmed that the meeting's procedures complied with relevant laws and regulations, and the voting results were valid [4]

Market Overview - The total trading volume in the Shanghai and Shenzhen markets reached 1.6 trillion yuan, an increase of 188.2 billion yuan compared to the previous trading day [1] - The military, securities, internet finance, and insurance sectors saw the highest gains, while oil and gas, pesticides, film, and port sectors experienced the largest declines [1] - By the end of the trading session, the Shanghai Composite Index rose by 1.03%, the Shenzhen Component Index increased by 1.72%, and the ChiNext Index surged by 3.11% [1] Investment Strategy - The company has initiated a position in the reducer sector and is currently fully invested, planning to sell the liquor concept the following day based on post-market quantitative analysis [3] - Continuous evaluation of past operations is emphasized to identify areas for improvement, ensuring the investment strategy remains competitive [3] - The company plans to sell the liquor sector and buy into the deep-sea technology sector, indicating a clear and decisive strategy [6] Sector Analysis - The deep-sea economy has shown significant potential, with a notable increase in RPS (Relative Price Strength) metrics over time, indicating strong performance [7] - The deep-sea technology sector is gaining attention from policy levels, with expectations for future industrial policies and major project implementations [7] - The total value of China's marine economy surpassed 10 trillion yuan in 2024, highlighting deep-sea technology as a crucial emerging industry for economic growth [7] - The deep-sea industry has a long supply chain, contributing significantly to economic stimulation across various stages from upstream technology development to downstream application services [7]

Core Viewpoint - The article highlights the transformation of Qinhuangdao Port into a modern, eco-friendly industrial port, emphasizing the integration of environmental protection measures and tourism development to create a harmonious coastal environment. Group 1: Environmental Initiatives - Qinhuangdao Port handles nearly 500,000 tons of coal daily, making it a significant energy artery while facing pollution challenges [3] - Advanced environmental technologies are implemented throughout the coal handling process, including a five-step dust suppression method that significantly reduces coal dust emissions [4] - Monitoring data shows a decrease in air quality indices, with PM10 down by 14.3% and total suspended particles down by 10.1% in 2024 compared to the previous year [5] Group 2: Water Management - The port has transformed idle land into sedimentation ponds, capable of holding up to 90,000 cubic meters of water, which helps manage stormwater and recycle water resources [5] - All sewage outlets have been blocked since 2018, ensuring that wastewater is treated and reused for dust suppression and greening, achieving zero discharge of polluted water into the sea [5] Group 3: Renewable Energy and Infrastructure - The port has installed a shore power system to reduce emissions from auxiliary engines of docked vessels, enhancing energy efficiency [7] - A distributed photovoltaic power generation system has been established, generating approximately 3 million kWh annually, with green electricity accounting for 80% of total electricity consumption in 2024 [8] Group 4: Tourism Development - The industrial tourism area at Qinhuangdao Port saw a visitor increase of 247% during the "May Day" holiday, reaching over 254,700 visitors [10] - The port's historical and industrial elements have been repurposed into tourist attractions, blending cultural heritage with modern amenities [10][11] - The integration of cultural displays, tourism services, and commercial consumption enhances the port's cultural and ecological value, contributing to urban vitality [11]

Group 1 - The core event was the 20th anniversary of Nanjing Port Longtan Container Co., which showcased the port's development and capabilities [1] - Nanjing Port completed a total of 58,500 TEUs in intermodal transport from January to May, marking a year-on-year increase of 6.13% [1][2] - The Longtan Port has transformed from a traditional loading and unloading port to a "China Green Port" and "China Smart Port," achieving a significant upgrade in its operational capabilities [1] Group 2 - The first voyage of the "Nanjing-Mexico" roll-on/roll-off foreign trade route was launched, allowing for direct export of vehicles from the port [2] - Nanjing Port has set multiple industry records over the past year, including the opening of new routes to Russia and South America, and the successful unloading of large vessels [2] - The port has also seen a doubling in the volume of intermodal containers year-on-year, indicating strong growth in multi-modal transport operations [2]