Group 1 - Insurance companies have increased their stake acquisitions, with 16 instances reported this year, a significant rise compared to 5 instances in the same period last year [1][2] - The recent acquisition by Great Wall Life Insurance involved purchasing 4.4 million shares of Qinhuangdao Port Co., bringing its total holdings to approximately 279 million shares, which is 5.0005% of the company's total equity [2] - The market value of Great Wall Life's holdings in Qinhuangdao Port is approximately 610 million RMB, representing 0.42% of the insurer's total assets as of the last quarter [2] Group 2 - The increase in stake acquisitions is attributed to new accounting standards that require insurance companies to reflect the market value of stock investments, leading to greater volatility in financial statements [3] - The insurance sector is facing pressure from declining long-term interest rates and the maturity of high-quality non-standard assets, which impacts investment returns [3] - The preference for high-dividend stocks is evident, with 8 out of 16 acquisitions targeting listed banks, which are known for their high dividend yields [4] Group 3 - Future trends indicate that insurance companies are likely to increase their stake acquisitions, focusing on specialized and strategic investments in sectors such as high technology, new energy, and healthcare [5] - The collaboration between banks and insurance companies is seen as beneficial for expanding insurance product sales due to banks' extensive networks [4]

Core Viewpoint - The Shanghai Stock Exchange has announced the termination of the listing of Jinzhou Port Co., Ltd. due to significant violations related to false financial reporting and inflated profits over multiple years [1][2]. Group 1: Company Violations - Jinzhou Port Co., Ltd. was found to have inflated profits through false trade activities and premature recognition of port service fees from 2022 to 2024, leading to false records in its annual reports for 2022, 2023, and the first quarter of 2024 [1]. - The company also received an administrative penalty from the China Securities Regulatory Commission (CSRC) for false records in its annual reports from 2018 to 2021, indicating a pattern of misconduct over four consecutive years from 2020 to 2023 [1]. Group 2: Listing Termination Process - Following the violations, the Shanghai Stock Exchange decided to terminate the listing of Jinzhou Port Co., Ltd. based on specific provisions in the revised listing rules [1][2]. - The stock will enter a delisting preparation period of 15 trading days, with the first day having no price limits and subsequent days limited to a 10% fluctuation [2]. - The company is required to arrange for its shares to be transferred to the National Equities Exchange and Quotations system within 45 trading days after delisting [2].

本报讯 （记者毛艺融）6月20日盘后，锦州港股份有限公司（以下简称"*ST锦港"）公告收到终止上市 决定。 根据行政处罚查实的财务造假事实，公司触及重大违法退市情形，交易所依规作出终止公司股票上市的 决定，按照规则公司股票将进入退市整理期交易15个交易日，供投资者交易退出。公司股票在退市整理 期结束后将摘牌。 市场人士认为，本案中，公司因严重财务造假被强制退市，有关责任人也被巨额罚款，这体现出监管机 构坚决落实新"国九条"，对财务造假的"零容忍"，对"害群之马"坚决出清。 5月29日，*ST锦港公告收到《行政处罚决定书》（〔2025〕3号），认定2022年至2024年，公司通过虚 假贸易业务及跨期确认港口包干作业费收入等方式虚增利润，《2022年年度报告》《2023年年度报告》 《2024年第一季度报告》存在虚假记载。 此前，2024年11月1日，公司披露收到中国证监会作出的《行政处罚决定书》（〔2024〕96号），认定 公司2018年至2021年年度报告虚假记载，并予以顶格处罚。根据行政处罚认定的事实，公司2020年至 2023年年度报告连续4年存在虚假记载，触及上交所《股票上市规则》第9.5.1条第（一） ...

*ST锦港（600190）6月20日晚间公告，公司今日收到上交所出具的自律监管决定书，因2020年至2023年年度报告连续4年存在虚假记载，上海证券交易所决定终 止公司股票上市。公司将于6月30日进入退市整理期，预计最后交易日为7月18日。公司股票终止上市后，将转入全国中小企业股份转让系统进行股份转让。 *ST锦港将成为A股"港口退市第一股"。 5月29日，*ST锦港收到辽宁证监局的《行政处罚决定书》，认定公司及相关责任人员存在多项违法事实，公司股票已于5月30日起停牌。 《决定书》显示，2022至2024年，公司通过虚假贸易业务及跨期确认港口包干作业费收入等方式虚增利润，《2022年年度报告》《2023年年度报告》《2024年第 一季度报告》存在虚假记载。其中，2022年虚增利润3610.45万元，占当期报告披露利润总额的22.46%；2023年虚增利润6808.78万元，占当期报告披露利润总额 的65.96%；2024年第一季度虚增利润1537.75万元，占当期报告披露利润总额的62.05%。 此外，公司还存在未按期披露《2024年半年度报告》，未及时披露关联交易，《2022年年度报告》《2023年年度报 ...

Core Points - The company announced a cash dividend distribution plan for the fiscal year 2024, with a total cash dividend amounting to 1,839,836,697.18 yuan, based on a distribution ratio of 0.74 yuan per share [1][3][4] - The total share capital of the company is adjusted to 2,501,508,381 shares after accounting for share buybacks and stock option exercises [1][3] - The cash dividend per share for A shares is calculated to be 0.7351415 yuan after the distribution [2][4] Dividend Distribution Plan - The profit distribution plan was approved at the shareholders' meeting on May 23, 2025, and includes a capital reserve transfer to increase share capital [2][3] - The cash dividend distribution will be executed on June 24, 2025, with the ex-dividend date set for June 25, 2025 [5][6] - The distribution will be made to all A and B shareholders registered by the respective cut-off dates [6][7] Shareholder Taxation and Payment Method - A shares will have a differentiated tax rate for dividends, with 7.40 yuan per 10 shares for certain shareholders, while B shares will be converted to Hong Kong dollars based on the exchange rate on May 26, 2025 [5][8] - The cash dividends for A shares will be distributed through the China Securities Depository and Clearing Corporation, while B shares will be paid directly to shareholders' accounts [6][7] Adjustments and Future Considerations - The company will adjust the exercise price of stock options in accordance with the dividend distribution, with new prices calculated based on the dividend amount [7][8] - The company will also adjust the maximum repurchase price for shares following the dividend distribution [8]

Core Viewpoint - Chongqing Port is actively expanding its trade business and optimizing its operations in response to declining profits and changing market conditions, while also focusing on digitalization and green development strategies to enhance competitiveness in the logistics sector [1][2][10]. Company Overview - Chongqing Port Co., Ltd. was established on January 8, 1999, and listed on July 31, 2000, as the first listed company in the Yangtze River inland port sector [3][4]. - The company operates two branches and manages 11 wholly-owned and controlled subsidiaries, with a total cargo throughput capacity of 81.76 million tons and container throughput capacity of 2.67 million TEU [4]. Financial Performance - In 2024, the company's commodity trade revenue decreased by 14.38%, and in the first quarter of 2025, revenue further declined by 20.3%, primarily due to reduced demand for bulk commodities [5][6]. - The company is facing increased costs due to the acquisition of new assets and ongoing construction projects, which have led to higher depreciation and amortization expenses [5][6]. Strategic Initiatives - The company is focusing on diversifying its cargo sources by developing manufacturing-related logistics and expanding into new commodity trading areas such as grain and oil [6][7]. - Chongqing Port is implementing a strategy to transform into a "smart and green" inland hub, enhancing operational efficiency through digitalization and environmental sustainability initiatives [7][8]. Collaboration and Integration - The company is planning to deepen collaboration with ports along the Western Land-Sea New Corridor and establish new "no-water ports" to strengthen its logistics capabilities [8]. - There are ongoing discussions regarding a strategic integration with China Logistics Group, which may lead to changes in the company's controlling shareholder [7][8]. Future Outlook - The company aims to enhance its market competitiveness by improving its multi-modal transport system, digital infrastructure, and green port initiatives in response to national policies promoting domestic circulation and development in the western region [10]. - Future dividend policies will be determined based on various factors, including strategic goals, shareholder interests, and financial performance [9].

秦皇岛港股份有限公司 简式权益变动报告书 上市公司名称：秦皇岛港股份有限公司 上市地点：上海证券交易所 / 香港联合交易所 股票简称：秦港股份 / 秦港股份 股票代码：601326.SH / 03369.HK 信息披露义务人名称 长城人寿保险股份有限公司 住所 北京市西城区平安里西大街 31 号 3 层 301 通讯地址 北京市西城区平安里西大街 31 号 3 层 301 邮政编码 100035 股份变动性质 增加 简式权益变动报告书签署日期：2025 年 6 月 17 日 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》（以下简称"证券法"）、 《上市公司收购管理办法》（以下简称"收购办法"）、《公开发行证券公司信息 披露内容与格式准则第 15 号—权益变动报告书》（以下简称"准则 15 号"）及相 关的法律、法规编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规则中的任何条款，或与之相冲突。 三、依据证券法、收购办法、准则 15 号的规定，本报告书已全面披露了信 息披露义务人在秦皇岛港股份有限公司（以下简称"公司"或"上市公司 ...

秦皇岛港股份有限公司 关于股东持股比例达到 5%的权益变动提示性公告 证券代码：601326 证券简称：秦港股份 公告编号：2025-015 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： ●本次权益变动系长城人寿保险股份有限公司（以下简称"长城人寿"或"信息 披露义务人"）增持秦皇岛港股份有限公司（以下简称"公司"）已发行股份，不触及 要约收购。 ●本次权益变动不会导致公司控股股东及实际控制人发生变化。 一、本次权益变动基本情况 公司于 2025 年 6 月 17 日收到公司股东长城人寿发来的《简式权益变动报告书》 长城人寿于 2025 年 6 月 16 日通过二级市场集中竞价交易方式增持公司 A 股 4,400,000 股至 21,400,000 股。上述增持后，长城人寿持有公司 A 股 21,400,000 股，H 股 寿自有资金和传统账户保险责任准备金。现将有关权益变动情况公告如下： （一）信息披露义务人基本情况 公司名称 长城人寿保险股份有限公司 企业类型及经济性质 其他股份有限公司（非上市） 人寿保 ...

Core Viewpoint - The credit rating agency maintains the credit rating of Beibu Gulf Port Co., Ltd. at AAA with a stable outlook, indicating strong financial health and operational performance [1][3]. Company Overview - Beibu Gulf Port Co., Ltd. primarily engages in port operations in Guangxi, with a registered capital of 2.278 billion yuan and a controlling shareholder, Guangxi Beibu Gulf International Port Group, holding 56.50% [8]. - The company operates 89 coastal production berths with an annual throughput capacity of 392 million tons, including a container throughput capacity of 9.8 million TEUs [8]. Financial Performance - As of March 2025, the company's total assets were 36.261 billion yuan, with equity of 20.113 billion yuan and a debt-to-asset ratio of 44.53% [9]. - The company achieved total operating revenue of 7.003 billion yuan and a profit of 1.616 billion yuan in 2024, reflecting a growth in throughput and operational efficiency [9][10]. Market Position and Competitive Advantage - The company has solidified its position as a major hub for bulk cargo in the Beibu Gulf region, with a significant increase in cargo throughput in 2024 [5]. - The strategic location of Beibu Gulf Port enhances its role as an international gateway, benefiting from government support and the development of the Western Land-Sea New Corridor [19][20]. Industry Analysis - The port industry in China is expected to maintain low-speed growth due to macroeconomic conditions and trade dynamics, with policies aimed at boosting domestic demand and infrastructure investment [12][17]. - The integration of port resources has led to a more stable competitive landscape, with a focus on enhancing operational efficiency and reducing homogeneous competition [17][18]. Future Outlook - The stable rating outlook suggests continued growth in cargo throughput and revenue, supported by favorable regional economic conditions and government initiatives [6][19]. - The company is expected to face challenges from increased competition among domestic ports and complex international trade conditions, but its growth potential remains strong [5][19].

*ST锦港（600190）公告，公司于2025年6月20日收到上海证券交易所出具的《关于锦州港股份有限公 司股票终止上市的决定》。根据辽宁证监局行政处罚决定书认定，公司2022至2024年年度报告存在虚假 记载，触及重大违法强制退市情形。公司股票将于2025年6月30日进入退市整理期，预计最后交易日期 为2025年7月18日，退市整理期交易期限为15个交易日。公司股票在退市整理期内继续在风险警示板交 易，首个交易日无涨跌幅限制，其他交易日涨跌幅限制为10%。 ...