Core Viewpoint - Xiamen Port Development Co., Ltd. experienced a decline of 5.70% in stock price on December 31, with a trading volume of 776 million yuan and a market capitalization of 9.695 billion yuan [1] Company Overview - The company primarily engages in the handling of bulk cargo at terminals, comprehensive logistics services, and commodity trading, being the largest comprehensive logistics service provider in the Xiamen Port area [2] - It possesses scarce resources such as bulk cargo terminals and a complete logistics service chain, forming an effective logistics service system that integrates domestic and foreign trade routes [2][3] - The company is located at 31 Donggang North Road, Huli District, Xiamen, Fujian Province [3] Business Operations - The company covers all aspects of cargo movement in and out of the port, creating a complete port comprehensive logistics service supply chain [3] - It operates the strongest international shipping agency in Southeast China, the largest bulk cargo handling terminal in the province, and the only domestic container handling terminal in Xiamen [3] - The company has established friendly port relationships with 11 ports, including Port Klang in Malaysia and Miami Port in the USA, since the Belt and Road Initiative [3] Financial Performance - For the period from January to September 2025, the company achieved an operating income of 16.612 billion yuan, a year-on-year decrease of 7.67%, while the net profit attributable to shareholders increased by 3.12% to 196 million yuan [8] - The main business revenue composition includes 89.43% from comprehensive supply chain services, 5.65% from port supporting services, and 4.59% from terminal handling and storage [7] Market Activity - The company has seen a net outflow of 74.6129 million yuan from major funds today, with a continuous reduction in major fund positions over the past three days [4][5] - The average trading cost of the stock is 13.86 yuan, with the current stock price near a support level of 12.91 yuan [6]

鹏华安荣混合A（011572）基金经理为张静娴、寇斌权。 截至发稿，张静娴累计任职时间238天，现任基金资产总规模30.08亿元，任职期间最佳基金回报 3.22%， 任职期间最差基金回报0.82%。 寇斌权累计任职时间2年195天，现任基金资产总规模37.85亿元，任职期间最佳基金回报96.46%， 任职 期间最差基金回报0.39%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 12月31日，唐山港跌1.03%，截至发稿，报3.83元/股，成交1.28亿元，换手率0.56%，总市值226.96亿 元。 资料显示，唐山港集团股份有限公司位于河北省唐山市海港经济开发区唐山港大厦，成立日期2003年1 月3日，上市日期2010年7月5日，公司主营业务涉及主要从事港口综合运输业务,具体包括港口装卸堆 存、运输物流、保税仓储、港口综合服务等业务类型。主营业务收入构成为：散杂货板块93.54%，商 品销售板块3.14%，物流及服务板块2.43%，其他(补充)0 ...

Core Viewpoint - Xiamen Port Authority's stock has experienced significant fluctuations, with a year-to-date increase of 90.92% but a recent decline of 5.21% over the past five trading days [2]. Financial Performance - For the period from January to September 2025, Xiamen Port Authority reported a revenue of 16.612 billion yuan, a year-on-year decrease of 7.67%, while the net profit attributable to shareholders was 196 million yuan, reflecting a year-on-year increase of 3.12% [3]. - The company has distributed a total of 1.004 billion yuan in dividends since its A-share listing, with 240 million yuan distributed over the past three years [4]. Stock Market Activity - On December 31, Xiamen Port Authority's stock price fell by 2.89%, trading at 13.46 yuan per share, with a total market capitalization of 9.985 billion yuan [1]. - The stock has been active on the market, appearing on the "龙虎榜" (top trading list) twice this year, with the most recent appearance on December 9 [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Xiamen Port Authority was 41,800, a decrease of 20.04% from the previous period, while the average circulating shares per person increased by 25.06% to 17,738 shares [3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest, holding 5.931 million shares, an increase of 2.1053 million shares from the previous period [4]. Business Overview - Xiamen Port Authority, established on April 21, 1999, and listed on April 29, 1999, primarily engages in cargo handling and related logistics services, with its main business revenue composition being 89.43% from comprehensive supply chain services, 5.65% from port support services, and 4.59% from cargo handling and storage [3].

Core Insights - The North Bay Port has achieved significant milestones, including handling its 10 millionth container and launching its 100th container shipping route, marking its entry into the ranks of major container ports [5][10] - The port's container throughput capacity has increased nearly fourfold from 241,000 TEUs in 2017 to 1,104,000 TEUs by 2025, reflecting substantial infrastructure development [5][6] - The port's automation and digital transformation have enhanced operational efficiency, with a 30% improvement in comprehensive operational efficiency due to integrated data systems [7][8] Infrastructure Development - Since 2017, the North Bay Port has constructed and put into operation 18 new berths, with 44 berths now open for use, including 11 new berths added in 2025, setting a historical record [6] - The port's annual throughput capacity has risen from 291 million tons in 2017 to 450 million tons by 2025, showcasing a robust growth trajectory [5][6] - The port's container shipping routes have expanded from 42 in 2017 to 100 currently, with a 58% increase in bulk cargo handling efficiency and a 27% improvement in average shipping times [6] Technological Advancements - The North Bay Port has implemented advanced automation technologies, including remote-controlled operations and automated guided vehicles, significantly improving operational workflows [7][8] - The establishment of a digital platform for real-time data exchange has reduced data processing time from 30 minutes to under 1 minute, enhancing the efficiency of sea-rail intermodal operations [8] Regional Cooperation and Economic Impact - The collaboration between Guangxi and Chongqing has streamlined logistics through the Western Land-Sea New Corridor, reducing transportation times for automotive exports by 7-10 days [10] - The port's sea-rail intermodal services now cover 18 provinces and cities, with a total of 190 routes and over 1,300 types of goods transported, reflecting a significant expansion since 2017 [10][11] - Exports of new energy vehicles, lithium batteries, and photovoltaic products have seen remarkable growth, with increases of 7%, 258%, and 1401% respectively [11]

"2025年，我们将全面完成'十四五'规划。""我们从来都是在风雨洗礼中成长、在历经考验中壮大，大家 要充满信心。" 辞旧迎新之际，重温习近平主席在二〇二五年新年贺词中的殷殷寄语，更能感悟蕴含其中的深邃哲思和 强大力量。 这一年，我国经济顶压前行、向新向优发展，现代化产业体系建设持续推进，改革开放迈出新步伐，重 点领域风险化解取得积极进展，民生保障更加有力。 这五年，我们有效应对各种冲击挑战，推动党和国家事业取得新的重大成就，"十四五"即将圆满收官， 第二个百年奋斗目标新征程实现良好开局。 从一年看五年，极不寻常、极不平凡，中国式现代化迈出新的坚实步伐； 从五年看新时代，踔厉奋发、勇毅前行，党和国家事业取得历史性成就、发生历史性变革。 新时代新征程，中华民族伟大复兴势不可挡。"时与势在我们一边，这是我们定力和底气所在，也是我 们的决心和信心所在"。 "十四五"时期，我国开启全面建设社会主义现代化国家新征程。世界百年未有之大变局深刻变化前所未 有，在拥有14亿多人口的世界最大发展中国家解决不平衡不充分的发展难题，改革发展稳定任务之重、 矛盾风险挑战之多、治国理政考验之大都前所未有。 把握规律、深化认识的五年—— ...

Core Insights - The Anqing Port Susong Public Terminal project, with a total investment of 450 million yuan, has been a key driver for economic development in Anhui Province since the implementation of the 14th Five-Year Plan, showcasing rapid construction and operational efficiency [2][5] Group 1: Project Overview - The project features the construction of two 5,000-ton berths, with a design capable of accommodating 10,000-ton river-sea vessels, completed in just 18 months [2] - The terminal is strategically located in the Susong County Economic Development Zone and is a joint venture between the Provincial Port Operation Group and Susong Longteng Group [2] - The project has significantly boosted local investment by 40% and reduced logistics costs for bulk commodities by 15% to 20% [2] Group 2: Operational Capacity - The terminal is equipped with advanced machinery, including a 2,000 tons/hour ship loader and an 800 tons/hour grab unloader, ensuring efficient cargo handling [3] - It has a designed throughput capacity of 2.65 million tons per year, with actual capacity reaching 5 million tons [3] - The terminal's infrastructure includes a 202.5-acre land area with dedicated storage facilities for bulk and general cargo [3] Group 3: Economic Impact - The terminal has created over 400 jobs in the local area and attracted three building material processing companies to the region [3][4] - Local logistics costs for building materials have decreased by 18%, indirectly lowering housing construction costs by approximately 3% [4] - The terminal is positioned as a critical node in the regional economic landscape, enhancing the integration of advanced manufacturing and modern logistics [3][5] Group 4: Strategic Importance - The terminal serves as an important gateway for Anhui Province to connect with the Yangtze River Economic Belt and the Yangtze River Delta integration [5] - It is designed to be a model port for provincial and county collaboration, promoting transparent operations and fair pricing [4][5] - The terminal's location provides significant logistical advantages, being only 2 kilometers from the G347 national road and well-connected to local transportation networks [4]

Core Insights - The article highlights significant milestones in China's port development, with notable achievements in container throughput and cargo handling, indicating robust growth in the sector [1][4][9]. Port Performance - Guangxi Beibu Gulf Port's container throughput surpassed 10 million TEUs, marking its entry into the million TEU club [1]. - Ningbo-Zhoushan Port's annual container throughput exceeded 40 million TEUs, making it the second-largest port in China and the third-largest globally [1]. - From January to November, national port cargo throughput reached 1.675 billion tons, and container throughput reached 32 million TEUs, with year-on-year growth of 4.4% and 6.6% respectively [1]. Leading Ports - The top ten ports, including Ningbo-Zhoushan, Shanghai, Tangshan, and Qingdao, contributed to 40% of the national total cargo throughput [1]. - Shanghai Port surpassed Tangshan Port with a cargo throughput of 814.29 million tons, becoming the second-largest port in China [7]. - Beibu Gulf Port led the growth in container throughput among the top ports, achieving a 9% increase [7][14]. Container Throughput Growth - Shanghai Port's container throughput reached 50.56 million TEUs, with expectations to exceed 55 million TEUs for the year, maintaining its position as the world's largest port for 16 consecutive years [9][13]. - Ningbo-Zhoushan Port's container throughput grew by 10.6%, reaching 39.99 million TEUs, with projections to surpass 43 million TEUs by year-end [13][14]. - Yangpu Port in Hainan achieved a remarkable 63.6% increase in container throughput, reaching 2.95 million TEUs, positioning it as a rising international hub [14]. Infrastructure Developments - The establishment of the Pinglu Canal is anticipated to enhance connectivity for Beibu Gulf Port, facilitating cargo movement from the southwest region to the sea [8][21]. - The dual-channel structure at Ningbo-Zhoushan Port is expected to increase the capacity for ultra-large vessels by over 50%, further solidifying its status as a global logistics hub [4]. Competitive Landscape - The competition among ports is intensifying, with ports like Guangzhou and Suzhou making significant strides in throughput, indicating a dynamic market environment [7][15]. - The article emphasizes the potential of inland ports, with Suzhou, Nanjing, and Foshan entering the top 20 container ports, showcasing the growing importance of inland waterways [15][17].

来源：新浪证券-红岸工作室 机构持仓方面，截止2025年9月30日，盐田港十大流通股东中，香港中央结算有限公司位居第八大流通 股东，持股1851.72万股，为新进股东。 融券方面，盐田港12月29日融券偿还300.00股，融券卖出4700.00股，按当日收盘价计算，卖出金额2.11 万元；融券余量40.96万股，融券余额183.91万元，超过近一年90%分位水平，处于高位。 资料显示，深圳市盐田港股份有限公司位于广东省深圳市盐田区盐田港海港大厦十七层至十九层，成立 日期1997年7月21日，上市日期1997年7月28日，公司主营业务涉及港口投资开发与经营,码头建设工程 管理,收费高速公路经营管理,海关监管仓和其他港口配套仓储经营。主营业务收入构成为：港口货物装 卸运输59.49%，高速公路收费30.11%，仓储及其他服务10.41%。 截至9月30日，盐田港股东户数7.18万，较上期增加10.42%；人均流通股44079股，较上期减少9.44%。 2025年1月-9月，盐田港实现营业收入6.16亿元，同比增长0.49%；归母净利润10.71亿元，同比增长 6.66%。 分红方面，盐田港A股上市后累计派现74. ...

Core Insights - The construction of the Yangpu Port International Hub is showing significant progress, with over 4,400 inbound and outbound vessels recorded this year, including more than 1,300 at the Yangpu International Container Terminal, marking a 42% year-on-year increase. The container throughput has reached 3.1 million TEUs, representing a 74% year-on-year growth [1][2]. Group 1 - Yangpu Port is positioned as an international shipping hub for the western land-sea new channel of Hainan Free Trade Port, characterized by efficient vessel movements [1]. - The Yangpu Entry-Exit Border Inspection Station has implemented three main measures to enhance port operations [1]. Group 2 - The first measure is the relocation of border inspection services to the frontline of the port area, providing 24/7 customs clearance services and streamlining administrative procedures, reducing processing time by an average of 30 minutes [2]. - The second measure focuses on ensuring efficient and smooth operations by offering customized services for different types of international vessels, which includes expedited customs procedures and dedicated channels for essential goods, cutting clearance times by 30% [2]. - The third measure involves simplifying inspection procedures to support the development of the bonded fuel supply industry, providing clearance convenience for 1,300 vessels and saving over 2,000 hours of waiting time, resulting in cost savings of nearly 40 million yuan [2].

Core Insights - Guangxi Beibu Gulf Port has successfully entered the "ten million TEU" category, marking a significant milestone in its development as a major port in western China, enhancing its connectivity to ASEAN markets [2][4][6] Group 1: Port Development and Capacity - The port achieved its 10 millionth container lift on December 30, 2023, and launched its 100th container shipping route to Cambodia, indicating robust growth in shipping activities [2] - The annual container throughput at Beibu Gulf Port has increased from 2.28 million TEUs to over 10 million TEUs, with an average annual growth rate exceeding 20% [2][6] - The Western Land-Sea New Corridor's rail-sea intermodal trains are projected to grow from 178 trains in 2017 to over 10,000 by 2025, covering 18 provinces and 163 stations [2] Group 2: Economic and Trade Impacts - The port's strategic location and efficient logistics have enhanced the export capabilities of local enterprises, particularly in high-value products aimed at ASEAN markets [4] - The establishment of cold chain facilities at Qinzhou Port has facilitated faster transportation of fresh produce from ASEAN countries to China, significantly improving freshness and delivery times [4][6] - Companies like COFCO Oils (Qinzhou) have reported a 43% increase in overall efficiency by adopting new logistics models, further solidifying Qinzhou as a key oil and fat industry hub for ASEAN [6] Group 3: Industry Collaboration and Future Prospects - The successful operation of the Western Land-Sea New Corridor is fostering deeper economic cooperation between China and ASEAN, providing a continuous impetus for trade and investment [6] - The establishment of joint ventures, such as Thai New Materials (Qinzhou) Co., highlights the growing interest of foreign companies in leveraging the port's advantages for international market access [6]