中国船舶工业股份有限公司 董事会议事规则 第四条 董事会对股东会负责，董事会依法行使下列职权： （一）召集股东会，并向股东会报告工作； （四）制订公司的年度财务预算方案、决算方案； 第一章 总则 第一条 为进一步规范中国船舶工业股份有限公司(以下称 "公司")董事会的议事方式和决策程序，确保董事会规范、高效 运作和审慎、科学决策，根据《中华人民共和国公司法》 （以下称 "《公司法》 "）《中华人民共和国证券法》《上海证券交易所上市公 司自律监管指引第 1 号——规范运作》 《上市公司治理准则》及相 关法律法规和《中国船舶工业股份有限公司章程》（以下称"《公 司章程》"）规定，制定本《董事会议事规则》 （以下称"本规则"） 第二条 公司董事会依据《公司法》和《公司章程》设立， 为公司常设机构，负责经营和管理公司的法人财产，是公司的 经营决策机构，对股东会负责。董事会在股东会闭会期间对内 管理公司事务，对外代表公司。 董事以及董事会的工作应当遵守本规则，如本规则与《公 司章程》有冲突之处，则按《公司章程》的规定执行。 第三条 公司董事会由 11 名董事组成，设董事长 1 人，并可 设副董事长。 第二章 董事会职权 ...

Group 1 - The core viewpoint of the articles highlights the resurgence of international shipowners returning to the Chinese shipbuilding market, with China reclaiming its position as the global leader in new ship orders in April 2023, accounting for approximately 69% of the global market share [1][4]. - In April 2023, Chinese shipyards received 51 new ship orders totaling 251 million compensated gross tons (CGT), marking a significant recovery from previous months when orders had shifted to South Korea due to U.S. restrictions [4][5]. - The hand-held order volume for Chinese shipbuilding reached 22,978 million deadweight tons in the first four months of 2025, reflecting a year-on-year increase of 43.6% and a global market share of 64.3% [3][4]. Group 2 - The Chinese shipbuilding industry is characterized by a significant export ratio, with approximately 80%-90% of its output being exported, and the total export value of ships reached $15.83 billion [5][6]. - Major provinces such as Jiangsu, Shandong, and Guangdong are prioritizing the development of the marine shipbuilding industry in their 2025 government work reports, focusing on green, high-tech, and new energy initiatives [2][9][10]. - The shipbuilding industry is increasingly integrating digitalization and automation, with advancements in smart shipbuilding processes leading to improved efficiency and reduced production costs [6][10]. Group 3 - The shipbuilding industry in China is supported by a robust supply chain and has become a key sector for competition among provinces, with Jiangsu leading in shipbuilding completion volume [7][8]. - The 2024 national marine economy report indicated that the shipbuilding industry achieved a value-added of 137 billion yuan, representing a growth of 14.9% compared to the previous year [7]. - Future growth opportunities in the shipbuilding sector may arise from the development of marine ranching and the recreational yacht economy, driven by rising consumer demand and technological advancements [10][11].

日期 2025 年 5 月 22 日 黑色金属研究团队 研究员：翟贺攀 zhaihepan@ccb.ccbfutures.com 研究员：聂嘉怡 研究员：冯泽仁 请阅读正文后的声明 ＃summary＃ 021-60635736 期货从业资格号：F3033782 投资咨询证书号：Z0014484 021-60635735 niejiayi@ccb.ccbfutures.com 期货从业资格号：F03124070 021-60635727 fengzeren@ccb.ccbfutures.com 期货从业资格号：F03134307 报告类型 焦炭焦煤日评 每日报告 | | | | | | 表1：5月21日焦炭焦煤期货主力合约价格、成交及持仓情况（单位：元/吨、手、亿元） | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 合约 代码 | 前收 盘价 | 开盘价 | 最高价 | 最低价 | 收盘价 | 涨跌幅 | 成交量 | 持仓量 | 持仓量 变化 | 资金流 入流出 | | J2509 | 1407. ...

Industry Overview - The high-tech shipbuilding industry in China is projected to achieve sales revenue of 71.009 billion yuan in 2024, representing a year-on-year growth of 14.53% [1][14] - High-tech ships are characterized by advanced technology, special performance, and high added value, making them technology-intensive, labor-intensive, and capital-intensive [2][4] - The industry includes various types of ships such as transportation, engineering, scientific research, and special-purpose vessels [2] Industry Development History - The development of China's high-tech shipbuilding industry has gone through five stages: foundation (1949-1960), system improvement (1961-1978), technology introduction (1979-1999), rapid development (2000-2010), and high-quality development (2010-present) [4][5][6] - Significant milestones include the construction of China's first nuclear submarine in 1966 and the establishment of a complete shipbuilding industrial system by the late 1970s [4][5] Current Industry Status - In 2024, China's shipbuilding completion volume is expected to reach 48.18 million deadweight tons, with a year-on-year increase of 13.85% [11] - China holds a global market share of 55.7% in shipbuilding completion volume, 74.1% in new orders, and 63.1% in hand-held orders, showcasing its strong competitive position [11] - The delivery of high-tech ships, such as the first large LNG carrier "AL SHELILA," marks a significant breakthrough in the high-end shipbuilding sector [1][12][14] Key Enterprises - Major players in the industry include China Shipbuilding Group, Jiangnan Shipyard, and Shanghai Waigaoqiao Shipbuilding, which dominate in order volume and technological capabilities [16][18] - Private enterprises like Yangzijiang Shipbuilding have also made significant strides, with a focus on clean energy vessels and advanced manufacturing technologies [20] Industry Trends - The industry is accelerating its transition towards green and intelligent technologies, with a focus on low-carbon ship development and the integration of advanced technologies such as 5G and AI [9][22][23] - By 2024, new orders for green ships are expected to account for 78.5% of the international market share, reflecting a strong commitment to sustainability [22] - The integration of high-end manufacturing and global supply chain collaboration is reshaping the competitive landscape, with China capturing 74.1% of global high-tech ship orders [24]

（原标题：摩洛哥正成为埃及经济战略的关键支点） 阿布·伊斯梅尔表示，埃摩双边贸易额近年来显著增长，并强调在共同加强 双边交流的意愿下，所有关税和监管障碍均已消除。今年2月，负责与议会关 系的部长级代表兼政府发言人穆斯塔法-拜塔斯宣布，摩埃两国正在筹备举行 经济部长级会议，旨在化解因《阿加迪尔协定》引发的贸易摩擦。 作为2025年非洲第二大经济体，埃及凭借其持续增长的GDP和相对稳定的 经济环境，正以摩洛哥为跳板，积极开拓撒哈拉以南非洲的出口市场和投资渠 道，实现经济多元化布局。摩洛哥充分发挥其连接西非市场的桥梁作用，与埃 及向东非及中部非洲的自然延伸形成战略互补，正在成为埃及经济战略布局的 关键支点。 据Maroc Diplomatique网站5月20日报道，近30家埃及工业企业计划在2028 年前在摩洛哥设立生产基地。埃及-摩洛哥商业委员会（CAEM）主席尼扎尔· 阿布·伊斯梅尔表示，相关企业业务涵盖多个领域，包括农产品加工、机械工 业、营养补充剂、汽车零部件、远洋渔业和船舶制造。这一动向体现了埃及希 望通过与摩洛哥建立战略经济伙伴关系，加强其在马格里布地区的布局。在此 背景下，部分埃及企业正在寻求摩洛哥合 ...

Core Viewpoint - The company has a strong order backlog scheduled until 2029 and is in the process of a significant asset restructuring through a stock swap merger with China Shipbuilding Industry Corporation, which is expected to enhance its market, scale, and capacity advantages [1] Group 1: Company Operations - The company's revenue primarily comes from shipbuilding and offshore engineering construction, both of which are based on order fulfillment [1] - The current order backlog is scheduled to last until 2029, indicating robust demand and operational stability [1] Group 2: Strategic Moves - The company is advancing a major asset restructuring by merging with China Shipbuilding Industry Corporation through a stock swap [1] - Upon completion of the restructuring, the company anticipates an enhancement in market advantages, further leveraging scale and releasing capacity advantages [1]

Core Viewpoint - China Shipbuilding Group held its annual performance briefing for 2024, showcasing its reform achievements and future development vision, marking the third consecutive year of such meetings [1] Group 1: Financial Performance - In 2024, China Shipbuilding's revenue is projected to be 78.584 billion yuan, a year-on-year increase of 5.01%, with net profit attributable to shareholders reaching 3.614 billion yuan, up 22.21% [3] - In Q1 of this year, the company achieved a revenue of 15.858 billion yuan, reflecting a growth of 3.85%, while net profit and non-recurring net profit saw significant increases of 180.99% and 230.20% respectively [3] Group 2: Business Outlook and Goals - The company aims to achieve a revenue target of 80.5 billion yuan by 2025, with completion plans for 89 civil shipbuilding projects and 270 ship repair projects [4] - China Shipbuilding plans to enhance its deep-sea technology capabilities and establish a closed-loop system for research, validation, and application, aiming to create a high ground in deep-sea technology [4] Group 3: Strategic Reorganization - The ongoing merger with China Shipbuilding Heavy Industry is expected to position the company as the largest and most technologically advanced shipbuilding flagship listed company in China [4] - The company emphasizes its role in leading industry development and supporting national defense, being the only listed company globally constructing aircraft carriers, large LNG ships, and large cruise ships simultaneously [5]

Core Viewpoint - China Shipbuilding Group is focused on enhancing its global competitiveness in the shipbuilding and marine industry, with a strong emphasis on innovation and high-quality development in 2024 [1] Group 1: Financial Performance - In 2024, China Shipbuilding Industry Co., Ltd. achieved operating revenue of 78.584 billion yuan, a year-on-year increase of 5.01% [1] - The net profit attributable to shareholders reached 3.614 billion yuan, reflecting a significant year-on-year growth of 22.21% [1] - The shipbuilding and marine engineering business generated operating revenue of 75.374 billion yuan, while the application industry contributed 2.293 billion yuan [1] Group 2: Order Backlog - As of the end of 2024, the company had a robust order backlog, including 322 civil ship orders totaling 216.962 billion yuan and 63 ship repair orders valued at 9.18 billion yuan [1] - The company also reported contract orders for marine equipment amounting to 743 million yuan and application industry contract orders of 1.382 billion yuan [1] Group 3: Future Goals and Strategies - For 2025, the company aims to achieve operating revenue of 80.5 billion yuan, with plans to complete 89 civil ship deliveries and 270 ship repairs [2] - The company is committed to enhancing its deep-sea technology capabilities and establishing a closed-loop system for research, validation, and application to drive innovation and market competitiveness [2] - The potential merger with China Shipbuilding Industry Corporation is positioned to create the largest and most technologically advanced shipbuilding flagship listed company in China [2]

Core Viewpoint - The Guangdong province is launching a significant talent recruitment initiative titled "Million Talents Gather in South Guangdong," aiming to attract 1 million college graduates to the region for employment and entrepreneurship, highlighting the area's commitment to high-quality development and talent integration [1][2][3]. Group 1: Talent Recruitment Initiatives - The "Million Talents Gather in South Guangdong" initiative is part of a broader strategy to enhance the talent pool in the Guangdong-Hong Kong-Macao Greater Bay Area, with various local governments actively promoting unique welfare policies to attract skilled individuals [1][3]. - Nansha District is a focal point for this initiative, hosting over 60 recruitment events and offering nearly 16,000 job positions across various sectors, including public service and private enterprises [3][5]. - The district has introduced substantial financial incentives for new graduates, including monthly living subsidies of 1,000 yuan for undergraduates, 2,000 yuan for master's degree holders, and 4,000 yuan for PhD graduates, aimed at enhancing the appeal of Nansha as a destination for high-level talent [6][7]. Group 2: Economic and Industrial Development - Nansha is rapidly developing as a hub for emerging industries, with a focus on sectors such as artificial intelligence, semiconductors, and biotechnology, which are driving the demand for skilled professionals [4][5]. - The district's automotive industry cluster has a production value nearing 200 billion yuan, indicating a robust industrial base that supports the recruitment of high-caliber talent [4]. - Major companies in Nansha are actively participating in recruitment fairs, showcasing over 60,000 quality job openings, including high-paying positions in technology and engineering [5][6]. Group 3: Support for Young Talent - Nansha has implemented a series of supportive measures for young talent, including transportation subsidies for job interviews and free accommodation for job seekers, which are designed to alleviate the financial burden on new graduates [6][7]. - The district's talent service platform allows for immediate access to various benefits, including subsidized housing options for different educational levels, further enhancing the attractiveness of Nansha for young professionals [7][8]. - The "青出于南" (Youth from South) initiative aims to create a comprehensive support system for young talent, focusing on their entire development cycle and fostering a collaborative environment across multiple sectors [7][9]. Group 4: Integration with Hong Kong and Macao - Nansha is positioning itself as a primary destination for Hong Kong and Macao youth seeking opportunities in mainland China, supported by various government programs that facilitate internships and entrepreneurship [10][11]. - The Guangdong government is actively promoting policies that encourage cross-border collaboration and integration, enhancing the appeal of Nansha as a gateway for young talent from Hong Kong and Macao [12][13]. - The district's strategic initiatives are expected to create a vibrant ecosystem for innovation and entrepreneurship, attracting a diverse range of young professionals to contribute to its growth [14][15].

Group 1 - The 2024 annual performance briefing of China Shipbuilding Group's listed companies was successfully held, featuring 12 companies including China Shipbuilding (600150) [1] - China Shipbuilding is the core listed company under China Shipbuilding Group, responsible for leading industry development and supporting national defense construction [3] - The company aims to achieve an operating revenue of 80.5 billion yuan in 2025, with completion plans for 89 civil shipbuilding projects and 270 ship repair projects [3] Group 2 - The company has orders scheduled for delivery until 2029 and is focused on improving production efficiency to deliver more ships earlier [4] - China Shipbuilding plans to enhance its deep-sea technology capabilities and create a closed loop of research, verification, and application in the deep-sea technology industry [4] - The company discussed the potential merger with China Shipbuilding Industry Corporation, positioning itself as the largest and most advanced shipbuilding flagship listed company in China post-merger [4][5] Group 3 - The company emphasizes value creation through the professional integration of core assets and resources, aiming to enhance operational efficiency and brand premium [5] - The focus is on seizing opportunities from the transformation and upgrading of the shipbuilding industry to build a world-class shipbuilding enterprise with international competitiveness [5]