Core Points - The establishment of the ISO Technical Committee for Port and Terminal Standardization is a significant milestone for China's transportation sector, marking the first global focus on port terminal standardization since ISO's inception [1][2] - The unified standards for ports are expected to enhance global logistics efficiency by reducing technical barriers and facilitating the flow of ships, goods, and information across different countries and regions [1] - The initiative aims to promote sustainable development and high-efficiency collaboration in port operations, ultimately contributing to the global port development network [1] Group 1 - The ISO Technical Committee for Port and Terminal Standardization was approved on January 18, 2025, and its secretariat is based in China, highlighting China's leadership in international standardization efforts [1] - The committee's establishment is expected to improve the adaptability of ships across various ports, thereby facilitating trade and reducing operational costs [1][2] - The Ministry of Transport has been enhancing port standardization efforts, focusing on safety, efficiency, and environmental impact through the development of mandatory national standards [2] Group 2 - The Ministry of Transport aims to leverage standardization to foster high-tech innovation, open up to international markets, and enhance the overall competitiveness of ports [2] - Specific standards are being developed for blockchain technology applications, logistics data exchange, and remote control of equipment to accelerate the digital transformation of ports [2] - The initiative also includes standards for shore power applications and carbon emission accounting, promoting a green and low-carbon transition in port operations [2]

Core Viewpoint - Tianjin Port reported a steady growth in cargo throughput and revenue for the year 2024, with plans for significant capital investment in 2025 to enhance its operations and infrastructure [1][4][8]. Group 1: Operational Performance - In 2024, Tianjin Port achieved a cargo throughput of 453 million tons, a year-on-year increase of 1.80%, exceeding the annual target of 448 million tons by 101.12% [3]. - The container throughput reached 20.47 million TEU, up 2.25% from the previous year, and completed 99.08% of the annual target of 20.66 million TEU [3]. - The company reported an operating revenue of 8.982 billion yuan, a 3.13% increase year-on-year, surpassing the annual budget of 11 billion yuan [4]. Group 2: Profitability by Cargo Type - The net profit for the container segment was 434 million yuan, while the dry bulk segment achieved a net profit of 486 million yuan, and the liquid bulk segment reported a net profit of 38 million yuan for 2024 [5]. Group 3: Capital Expenditure Plans - The company planned an investment of 1.454 billion yuan for 2024, achieving a completion rate of 76.23%, with an expected fixed asset investment of 2.374 billion yuan for 2025 [8]. Group 4: Smart Port Development - In 2024, the company advanced its smart port initiatives, achieving a 20% increase in operational efficiency through AI and automation, and implemented a comprehensive digital transformation [9]. Group 5: Customer and Revenue Structure - The top five customers accounted for 39.73% of the annual sales, primarily driven by coal trading activities [10]. Group 6: Pricing Strategy - The company adheres to a transparent pricing model based on regulatory guidelines, ensuring compliance and competitiveness through differentiated pricing strategies [11]. Group 7: Impact of Trade Relations - The company noted that the impact of US-China trade tensions on its cargo structure is limited, and it plans to enhance service efficiency and expand key shipping routes [12]. Group 8: Cash Dividend Policy - The company has a strong track record of cash dividends, having distributed a total of 4.8 billion yuan over 29 years, with a planned dividend of 301 million yuan for 2024 [13].

在具体标准项目的实施方面，将充分依托ISO港口码头技术机构，围绕港口技术成果的最新发展趋势， 基于港口码头标准化最佳实践经验与解决方案，提炼标准需求和提案。积极建立联络关系，推动ISO港 口码头技术机构与国际港口协会等国际组织的合作，提升制定国际标准技术内容的包容度和全球影响 力。 通过制定一批具有国际影响力的港口码头国际标准，使标准成为港口行业发展的核心引领，有效凝聚全 球共识，共享先进适用技术和最佳实践经验，为实现联合国可持续发展目标贡献积极力量。 李义明表示，港口作为国际贸易的重要节点和多种运输方式的衔接点，其标准的统一与协调直接影响全 球物流链的效率和质量。建立ISO港口码头技术机构将促进全球港口码头在建设运营等各环节的高效协 同与可持续发展。首先，统一的港口标准将减少技术壁垒，便于不同国家和地区港口间的船舶、货物和 信息流动，提高全球物流效率。其次，标准化的港口设施和作业流程，能够有效降低船舶在不同港口间 的适应成本，促进贸易便利化。此外，共同的标准框架为港口之间的互联互通提供了技术基础，有利于 打造全球港口协同发展网络。 李义明介绍，下一步，将同各成员国紧密合作，开展港口码头作业、设施、系统、技术 ...

Group 1 - The company will hold its second extraordinary general meeting of shareholders on May 26, 2025, at 15:00 in the company meeting room [1] - Shareholders registered by 15:00 on the day before the meeting are entitled to attend, and those unable to attend may appoint proxies [1][2] - The meeting will include voting through the Shanghai Stock Exchange's online voting system on the same day [1] Group 2 - The agenda includes the review of several proposals, including the signing of a Directors, Supervisors, and Senior Management Liability Insurance Agreement [2][3] - The company plans to continue purchasing liability insurance for its directors, supervisors, and senior management, with a premium of 500,000 yuan and a coverage limit of 50 million yuan [2][3] - The insurance will be effective for 12 months from the date of contract signing [2] Group 3 - The company proposes to amend certain provisions of its Articles of Association to enhance corporate governance [3] - The board has approved the proposal to elect three non-independent directors to fill vacancies due to resignations [4][5] - Candidates for non-independent directors include individuals with extensive experience in finance and management [6][7] Group 4 - The company also plans to elect two independent directors following the resignation of current independent directors [8][9] - The independent director candidates have backgrounds in finance, accounting, and law [10][11] Group 5 - The company intends to elect one supervisor to replace the chairman of the supervisory board who has resigned [12] - Candidates for the supervisory position have relevant experience in finance and management [13]

Core Insights - China's coastal ports are globally leading in overall scale, with eight out of the top ten ports in global cargo throughput and six out of the top ten in container throughput being Chinese ports [1] - In terms of intelligent port development, China has the highest number of automated terminals both completed and under construction in the world [1] - Chinese ports hold the world record for container handling efficiency at automated terminals [1]

近年来，交通运输部不断加强港口标准化工作，通过统一设施设备标准、规范作业流程、优化资源配 置、保障安全质量，为建设高效智能、安全绿色的一流港口筑牢根基，以标准化建设促进港口高技术创 新、高水平开放、高质量发展，进而为提升港口综合竞争力、畅通国际物流通道发挥着基础和引领作 用。针对港口安全生产关键环节和不同货物作业特点，发布港口作业安全要求等系列强制性国家标准， 有效提升港口的安全管理水平；制定区块链技术应用、物流作业数据交换、电子单证应用、设备远程操 控标准，提升港口的运营效率和智能化水平，加速港口数字化转型；通过制定港口岸电应用、码头二氧 化碳排放核算和绿色港口评价相关标准，有效降低港口的环境影响，推动港口绿色低碳转型。 交通运输部20日举行5月例行新闻发布会。会上，交通运输部科技司司长徐文强表示，交通运输部大力 推进实施《国家综合立体交通网规划纲要》，在建设世界一流港口方面取得了显著成效。我国港口货物 吞吐量和集装箱吞吐量多年稳居世界第一。 会上，有记者问，近年来，交通运输部持续推动建设一流港口，促进全球航运经贸协同发展，港口标准 化工作在其中发挥了怎样的作用？ 对此，徐文强表示，交通运输部大力推进实施《 ...

代表超80个美国公共港口的美国港务局协会（AAPA）5月19日发布声明，强烈反对美国政府对中国制 造的船到岸（STS）起重机加征100%进口关税的提议，敦促美国贸易代表办公室考虑替代方案。 AAPA表示，加征关税不会凭空创造出美国国内的起重机制造业，只会增加公共港务局的成本。该协会 称，加征关税将推高运输成本、增加港口开支，并最终增加美国消费者面临的价格压力。 AAPA另外呼吁美国贸易代表办公室进一步降低对中国制造、拥有和运营船舶征收的、可能损害美国企 业利益的相关费用。 AAPA总裁兼首席执行官Cary Davis在提交给美国《联邦公报》的评论中表示，上述加征关税措施可能 在未来十年带来近67亿美元额外成本。（智通财经 汪维喆） ...

Core Viewpoint - The company, China Merchants Port, is experiencing steady operational growth and improving profitability, positioning itself as a leading global port operator [1][2]. Performance Summary - In April 2025, the total container throughput reached 17.059 million TEU, a year-on-year increase of 6%, with a cumulative total of 66.118 million TEU for the year, reflecting a 6.9% growth [1][2]. - For Q1 2025, the company reported operating revenue of 4.214 billion yuan, up 8.99% year-on-year, and a net profit attributable to shareholders of 1.091 billion yuan, an increase of 5.21% [2]. - The gross profit margin has been on the rise, with figures of 40.84% in 2023, 42.99% in 2024, and 46.71% in Q1 2025, marking a year-on-year increase of 2.74 percentage points for Q1 2025 [2]. Shareholder Returns - The company has prioritized shareholder returns, with dividend payout ratios of 30.8%, 33.7%, and 40.6% from 2021 to 2023. For 2024, it plans to distribute cash dividends of 1.843 billion yuan, maintaining a payout ratio of 40.8% [3]. Global Strategic Layout - China Merchants Port is enhancing its global strategic layout, focusing on "global layout, lean operation, and innovative upgrades" across four main business areas: port investment, operation, logistics, and smart technology [4]. - The company has made significant strides in overseas markets, with a 15% year-on-year increase in overseas revenue to 5.51 billion yuan in 2024, accounting for 34.2% of total revenue [4]. Business Growth - The overseas port projects achieved a container throughput of 36.835 million TEU in 2024, a growth of 8.1% year-on-year, with notable performances from terminals in emerging markets [5][6]. - The company has maintained a strong financial position, with total assets reaching 204.263 billion yuan and a debt-to-asset ratio of 36.08% as of Q1 2025 [6].

证券代码：600190/900952 证券简称：*ST 锦港/*ST 锦港 B 公告编号：2025-050 锦州港股份有限公司 关于公司可能存在因股价低于1元而终止上市的 ?锦州港股份有限公司（以下简称"公司"）股票 2025 年 5 月 19 日收盘价 已连续 10 个交易日低于 1 元，其中 A 股收盘价为 0.92 元/股，B 股收盘价为 0.047 美元/股。根据《上海证券交易所股票上市规则》 （以下简称"《股票上市规则》"） 第 9.2.1 条第一款第三项规定，在上海证券交易所（以下简称"上交所"）既发 行 A 股股票又发行 B 股股票的上市公司，如果 A、B 股股票连续 20 个交易日的每 日股票收盘价均低于 1 元，公司股票可能被上交所终止上市交易，属于交易类强 制退市。根据《股票上市规则》第 9.6.1 条第二款规定，交易类强制退市公司股 票不进入退市整理期交易。敬请广大投资者注意投资风险。 ?公司于 2025 年 4 月 29 日收到中国证券监督管理委员会（以下简称"中国 证监会"）《行政处罚及市场禁入事先告知书》（【2025】1 号，以下简称"《事先 告知书》"），显示公司触及重大违法强制 ...

证券代码：600190/900952 证券简称：*ST锦港/*ST锦港B 公告编号：2025-051 锦州港股份有限公司 关于实施其他风险警示的进展公告 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。 重大风险提示： ?截至本公告披露日，锦州港股份有限公司（以下简称"公司"）存在三种 叠加实施其他风险警示的情形：一是，公司存在违规对外提供担保且未能在 1 个 月内完成整改的情形；二是，中审众环会计师事务所（特殊普通合伙）（以下简 称"中审众环"）对公司 2024 年度财务报告内部控制出具了否定意见的审计报告； 三是，根据中国证监会《行政处罚及市场禁入事先告知书》（处罚字【2024】59 号）及《行政处罚决定书》(〔2024〕96 号)载明的事实，公司披露的 2018 年至 条第（一）、 （三）、 （七）项规定的其他风险警示情形，公司股票已被上交所叠加 实施其他风险警示。 ?公司于2025年4月29日收到中国证券监督管理委员会（以下简称"中国证监 会"） 《行政处罚及市场禁入事先告知书》 （【2025】1号，以下简称" 截至本公 ...