| | 1201(L) | 1.375,000(L) | HKD 7.3015 | 98,311,317(L) 8.95(L)08/12/2025 | | --- | --- | --- | --- | --- | | S20251211E00271 FMR LLC | | | | | 格隆汇12月12日丨根据联交所最新权益披露资料显示，2025年12月8日，青岛港(06198.HK)遭FMR LLC在场内以每股均价7.3015港元减持137.5万股，涉资约 1003.96万港元。 减持后，FMR LLC最新持股数目为9831.132万股，持股比例由9.07%下降至8.95%。 | 股份代號: | 06198 | | --- | --- | | 上市法國名稱: | 青島港國際股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 12/11/2025 - 12/12/2025 | ...

Group 1 - The core viewpoint of the article is that Rizhao Port (600017) has confirmed its compliance with information disclosure obligations and stated that there are no undisclosed matters that should have been disclosed [1] Group 2 - The company actively engages with investors through interactive platforms to address inquiries [1] - The company's commitment to transparency is emphasized by its strict adherence to information disclosure requirements [1] - The statement reassures investors about the company's governance and operational integrity [1]

Core Points - Guangzhou Port has successfully passed the national acceptance for the expansion of its open ports, including Pazhou Terminal, Lantau Island, and Sanmen Island anchorage [1][2] - The port has evolved from a feeder port to a comprehensive hub port for foreign trade, becoming the largest in South China [1] - The expansion will enhance both passenger and cargo services, including a new cross-border waterway service to Hong Kong and Macau [1] Summary by Sections - **Port Development**: Since the 1980s, Guangzhou Port has opened various terminals and has developed into a key hub for international trade [1] - **Pazhou Terminal**: Opened for trial operation on April 14, 2023, with 5 berths and a daily capacity of 3 to 6 round trips for cross-border passenger services, handling over 34 million passengers and 7,400 vessels since its trial [2] - **Anchorage Areas**: Lantau Island and Sanmen Island anchorages are used for transshipment and offloading, with increasing traffic due to the development of the Guangdong-Hong Kong-Macao Greater Bay Area [2]

Group 1 - The company, Rizhao Port, is actively engaged in market value management and emphasizes shareholder returns [2] - In 2025, the company will implement its first interim dividend, distributing a cash dividend of 0.33 yuan for every 10 shares [2] - Over the past three years, the company's cash dividend payout ratio has steadily increased from 19.50% to 40.39%, enhancing investor value returns [2]

智通财经APP获悉，香港联交所最新资料显示，12月8日，FMR LLC减持青岛港(06198)137.5万股，每股 作价7.3015港元，总金额约为1003.96万港元。减持后最新持股数目约为9831.13万股，最新持股比例为 8.95%。 ...

责编：秦雅楠、卢思宇 0:00 "十五五"规划建议提出，推进传统基础设施更新和数智化改造。近日，中国经济网记者随"牢记嘱托 逐 梦深蓝"网络主题宣传活动采访团走进山东港口日照港。在港区15万吨级粮食专用泊位，粮食卸船机正 向船舱内伸出钢铁"手臂"。借助"双螺旋"系统，船舱里的大豆通过密闭皮带输送机被送入港口粮食储运 基地的筒仓中……智慧港口是如何打造的？请跟随记者镜头一探究竟。（中国经济网记者 年巍 视频剪 辑 贾佳） ...

Core Viewpoint - The recent reform of the compensation system in the public fund industry has drawn significant market attention, marking the arrival of an "era of performance" where nearly a thousand fund managers face potential salary reductions due to underperformance [1][7]. Summary by Relevant Sections Compensation Reform - According to the new guidelines from the Asset Management Association of China, if a fund manager's product returns are more than 10 percentage points below the performance benchmark over the past three years and the fund's profit margin is negative, their performance-based compensation must be reduced by at least 30% [8]. - Fund companies are required to assess the performance of fund managers managing multiple products based on weighted criteria such as fund size and management duration, excluding funds managed for less than a year from evaluation [8]. Performance Data - As of December 10, there are 9,430 funds with performance data over the past three years, of which 1,615 funds have underperformed their benchmarks by more than 10 percentage points, and 56 funds have underperformed by over 50 percentage points [8]. - Notable underperforming funds include Guangfa High-end Manufacturing A, Fangzheng Fubon Innovation Power A, and Zheshang Smart Economic Dynamics A, with underperformance rates of 82.38%, 75.34%, and 69.84% respectively [8]. Focus on Fund Managers - The performance of senior fund managers over the past three years has become a focal point in the industry, particularly for Chen Xuanmiao from Penghua Fund, whose multiple products have shown poor performance [8]. - Data indicates that all five products managed by Chen Xuanmiao have negative returns compared to their benchmarks, with significant underperformance [8]. Specific Fund Performance - The Penghua Jiangxin Selected A fund has underperformed its benchmark by 28%, while Penghua Vision Return has underperformed by 24.53%, and other funds managed by Chen have similar negative returns [10]. - These funds have experienced notable net value declines, with maximum drawdowns ranging from 21% to 30% [10]. Portfolio Analysis - The top ten holdings across Chen Xuanmiao's five funds show a high degree of overlap, with a significant focus on consumer, pharmaceutical, and some undervalued cyclical sectors [10]. - Key stocks in the top holdings include Gree Electric Appliances, Kweichow Moutai, Renfu Pharmaceutical, and Mindray Medical, all of which are present in all five products [13]. Industry Transformation - The binding of fund managers' performance compensation to specific product benchmarks, rather than solely to fund size and management fees, indicates a profound restructuring of the asset management industry's operational rules [12]. - This shift signifies a fundamental change in industry values, emphasizing long-term investment philosophy, sustainable performance, and overall research capabilities of firms [12].

"现在重庆转关出口的货物，只需要远程线上进行验核，更加方便快捷。"中外运广西有限公司钦州港分 公司陆海新通道关务主管谢明兰说。 在优化通关流程的同时，钦州港海关精准对接地方产业发展和企业需求，全力强化口岸基础设施建设。 通过指定专人跟踪指导场所经营人完善设施，缩短建设周期，今年新增对外开放泊位9个，港口集疏运 能力和水平显著提升。此外，该海关还深入推进通关监管改革，积极推广"抵港直装""船边直提"等物流 模式落地应用，打破了原有货物需进入堆场等待的限制，实现出口货物"到港即装"，进口货物"卸船即 提"，有效扭转了传统作业模式下的"货等船""箱等车"局面，为企业节省了大量仓储与滞港成本。今年 前10月经钦州港口岸进出口总值2005.3亿元，同比增长24%。 目前，钦州港已成为西部陆海新通道班列开行量最大、线路最多样的出海枢纽港之一。通过与越南海防 港开通跨境"直通船"，两港之间"两点往返、定时定班、安全便利"的跨境海上穿梭班轮实现常态化运 行，有力提升中越两国贸易便利化水平。随着"金华—钦州—东盟"专列、"澳大利亚—钦州港—重庆— 四川宜宾"的"海—铁—江"测试专列等线路陆续开通运行，通道的辐射效应和集结功能日 ...

Core Viewpoint - Shenzhen Yantian Port Co., Ltd. is experiencing positive market movement, with a 1.34% increase in stock price and a total market capitalization of 23.658 billion yuan, indicating strong investor interest in the company [1]. Company Overview - Shenzhen Yantian Port's main business includes the development and operation of terminals, cargo handling and transportation, construction and operation of supporting transportation facilities, and warehousing and industrial facility management [2]. - The company is a significant player in the port industry, which is closely linked to the national and regional economic trade development, benefiting from the "dual circulation" development pattern [2]. - The actual controller of the company is the State-owned Assets Supervision and Administration Commission of the Shenzhen Municipal People's Government [2]. - As one of the world's highest single-port container throughput terminals, Yantian Port is expected to benefit from the development of the Guangdong-Hong Kong-Macao Greater Bay Area [2]. Financial Performance - As of September 30, 2025, Yantian Port achieved an operating income of 616 million yuan, a year-on-year increase of 0.49%, and a net profit attributable to shareholders of 1.071 billion yuan, up 6.66% year-on-year [7]. - The company's revenue composition includes 59.49% from port cargo handling and transportation, 30.11% from highway tolls, and 10.41% from warehousing and other services [6]. Shareholder Information - As of September 30, 2025, the number of shareholders increased by 10.42% to 71,800, with an average of 44,079 circulating shares per person, a decrease of 9.44% [7]. - The company has distributed a total of 7.458 billion yuan in dividends since its A-share listing, with 2.015 billion yuan distributed in the last three years [8]. Market Position - Yantian Port is positioned within the transportation sector, specifically in shipping ports, and is part of various concept sectors including RCEP, port transportation, and the Xiong'an New Area [6].

Core Viewpoint - Shenzhen Port Group and China General Nuclear Power Corporation New Energy signed a cooperation agreement to develop offshore wind power and integrated energy projects, aiming to create a new model of collaboration in the energy sector [2][3]. Group 1: Cooperation Agreement - The agreement focuses on the integrated development model of "offshore wind power + comprehensive energy + port-city integration" [2]. - Key projects include the construction of offshore wind power bases, offshore comprehensive energy islands, wind power operation and maintenance mother ports, and a green ship fuel supply trading center in South China [2]. Group 2: Strategic Importance - The partnership aims to enhance the operational capacity for offshore wind power maintenance and promote high-quality development in the green energy industry [3]. - Shenzhen Port Group's modern service system integrates "port hub + logistics channels + trade networks," supporting the transition to smart and green port operations [3]. Group 3: Industry Trends - The green hydrogen and ammonia industry is identified as a crucial direction for future energy transformation, with Shenzhen Port Group positioned as a strategic partner due to its global port and shipping network advantages [2]. - The green hydrogen and methanol project utilizes renewable energy for hydrogen production, contributing to global energy transition and carbon neutrality goals [2]. Group 4: Previous Collaborations - In September, Shenzhen Port Group and China General Nuclear Power Corporation New Energy signed a strategic cooperation project for integrated green ship fuel production and supply, involving 21 other organizations to accelerate the development of the green ship fuel industry in the Guangdong-Hong Kong-Macao Greater Bay Area [3]. Group 5: Regional Leadership - China General Nuclear Power Group leads in offshore wind power operations and construction in Guangdong Province and has initiated the first domestic offshore comprehensive energy island innovation platform [4].