Core Viewpoint - The company announced a semi-annual distribution plan for 2025, proposing a cash dividend of 0.81 yuan per share, totaling 192 million yuan, which represents 36.16% of its net profit, marking the 16th distribution since its listing [1]. Distribution History - The company has a history of cash distributions since its listing, with the latest plan being 0.81 yuan per share, totaling 192 million yuan and a dividend yield of 0.90% [2]. - Previous distributions include: - 0.469999 yuan per share in December 2024, totaling 109 million yuan, with a yield of 0.61% - 1.510004 yuan per share in September 2024, totaling 344 million yuan, with a yield of 1.96% - 1.952779 yuan per share in December 2023, totaling 445 million yuan, with a yield of 2.46% - 1.73 yuan per share in December 2022, totaling 307 million yuan, with a yield of 2.10% [2]. Financial Performance - The company reported a revenue of 3.556 billion yuan for the latest half-year, reflecting a year-on-year growth of 11.50% - However, net profit decreased by 15.70% to 531 million yuan, with basic earnings per share at 0.231 yuan [2]. Capital Flow - The stock experienced a net outflow of 43.0675 million yuan in principal funds today, with a total net outflow of 68.6965 million yuan over the past five days - The latest margin financing balance for the stock is 361 million yuan, with a recent increase of 8.2566 million yuan, representing a growth of 2.34% [3].

Group 1 - The core point of the article is that Haixia Co., Ltd. has experienced a decline in the number of shareholders, with a decrease of 6,000 shareholders to a total of 57,000, representing a 9.52% drop compared to the previous period [1] - The company's stock price closed at 8.28 yuan, down 0.96%, but has seen a cumulative increase of 4.94% since the concentration of shares began, with 6 days of price increases and 4 days of declines [1] - In the first quarter, the company reported a revenue of 1.318 billion yuan, a year-on-year decrease of 5.11%, and a net profit of 119 million yuan, down 29.98%, with basic earnings per share of 0.0535 yuan and a weighted average return on equity of 2.74% [1] Group 2 - In terms of institutional ratings, the stock received a buy rating from one institution in the past month, with the highest target price set at 8.20 yuan by GF Securities on July 23 [1]

Core Viewpoint - Beibu Gulf Port (000582.SZ) reported a revenue of 3.556 billion yuan for the first half of 2025, reflecting a year-on-year growth of 11.50% [1] - The net profit attributable to shareholders decreased by 15.70% to 531 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 28.73% to 472 million yuan [1] - Basic earnings per share stood at 0.231 yuan [1] Financial Performance - Revenue for the first half of 2025: 3.556 billion yuan, up 11.50% year-on-year [1] - Net profit attributable to shareholders: 531 million yuan, down 15.70% year-on-year [1] - Net profit after deducting non-recurring gains: 472 million yuan, up 28.73% year-on-year [1] - Basic earnings per share: 0.231 yuan [1]

本次推介活动由福清市人民政府、福州市交通运输局、福建省福州港口发展中心、福州江阴港城经济区 管理委员会联合主办，中国铁路南昌局集团福州铁路物流中心、福州新港国际集装箱码头有限公司、福 建江阴国际集装箱码头有限公司、福建融港码头发展有限公司共同协办。 来源：环球网 本次推介会不仅是江阴港区拓展全球航运网络的重要里程碑，更是福清市提升港口国际化能级、构建高 水平对外开放新格局的关键举措。推介会成功搭建了政府、港口、航运、物流与产业深度对接、共谋发 展的重要平台，吸引了逾百家国内外骨干航商、顶尖供应链物流企业及大型工矿贸易企业代表踊跃参 与。与会企业一致认为，推介活动全方位展现了江阴港区得天独厚的区位优势、日益完善的国际化航线 网络以及巨大的发展潜力，对依托江阴港区拓展全球贸易、深耕"海丝"市场充满信心与期待。（文/王 元锴 吴剑 图/福清市影像中心) 8月21日至22日，福建省福清市成功举办以"福泽四海·港通五洲"为主题的福州港江阴港区国际集装箱航 线推介活动。 21日下午，逾百家国内外骨干航商、顶尖供应链物流企业及大型工矿贸易企业代表实地参观福州港江阴 港区口岸服务中心、铁路物流园、融港码头、福港集箱数智中心， ...

Core Viewpoint - The company reported a decline in both revenue and net profit for the first half of 2025 compared to the previous year, indicating potential challenges in its financial performance [1] Financial Performance - The company's revenue for the first half of 2025 was 1.231 billion yuan, representing a year-on-year decrease of 4.74% [1] - The net profit for the same period was 55.7018 million yuan, which is a significant year-on-year decline of 41.58% [1] - Basic earnings per share were 0.04 yuan, reflecting a decrease of 50.00% compared to the previous year [1]

"中国港口行业的高质量发展，迫切需要高质量的法律服务保驾护航。"中国港口协会秘书长丁莉表 示，随着港口业务不断拓展、新业态持续涌现，港口企业面临的法律与合规风险日益增加，商事纠纷也 随之增多。 港口企业选择诉讼途径解决争议时，常常面临管辖限制、程序周期较长、经济成本过高等现实困 扰，难以满足港口贸易高频高效的纠纷解决需要。在这一背景之下，中国港口协会与上海仲裁委员会于 8月21日正式达成战略合作，未来将充分发挥双方优势，为我国港航业法治化发展描绘崭新蓝图。 中国港口协会作为中国港口界唯一的全国性行业协会，会员遍及大陆沿海和内河的各主要港口。据 统计，目前我国共设立280余家仲裁机构，谈及选择与上海仲裁委员会达成战略合作的深层考量，协会 秘书长丁莉表示："从专业能力看，上海仲裁委员会优势十分突出，这是我们最看重的一点。同时，上 海由于国际航运中心建设，集聚了港口、航运等优质资源；加上被誉为'全球第一大港'的上海港，在建 设与发展过程中，也积累了很多经验和案例。"这些"活教材"能为海事仲裁服务提供最贴近行业实际的 参考，让争议解决方案更接地气、更具操作性。 "我们仲裁委员会和港口协会达成合作，有点像灰姑娘遇上王子 ...

Group 1 - The company plans to apply for registration and issuance of short-term financing bonds not exceeding RMB 2 billion [1] - The company successfully issued its fourth phase of short-term financing bonds for the year 2025, with an actual issuance amount of RMB 300 million [1] - The issuance interest rate for the bonds is set at 1.55% [1] Group 2 - The company is not classified as a dishonest entity according to checks conducted through the "Credit China" website [2]

Group 1 - The "Xiaomo Port - Yantian Port" foreign trade route has opened a new channel for the export of automotive parts from the Guangdong East region, with the first shipment arriving on August 8 [1] - China is increasingly occupying an important position in the global automotive parts market due to its complete industrial chain, strong manufacturing capabilities, and high cost-performance ratio, with significant export advantages in various categories such as tires, headlights, braking systems, and more [1] - From January to July this year, the Dapeng Customs supervised the export of automotive parts worth 14.54 billion yuan, representing a year-on-year increase of 9.2% [1] Group 2 - The logistics model of the "Xiaomo Port - Yantian Port" route involves transporting empty containers from Yantian Port to Xiaomo Port for loading, which reduces costs by approximately 30% compared to road transport and mitigates the impact of weather and congestion [2] - In the first seven months, 11,599 new energy vehicles were exported through Yantian Port, marking a year-on-year increase of 75% [2] - The Dapeng Customs is implementing facilitation measures such as advance declaration and direct loading upon arrival to effectively reduce transportation costs and logistics time, supporting the accelerated export of the new energy vehicle industry [2]

融券方面，当日融券卖出0.34万股，净买入3.34万股。 本文源自：金融界 作者：智投君 8月20日，沪深两融数据显示，北部湾港获融资买入额0.16亿元，居两市第1928位，当日融资偿还额0.22 亿元，净卖出588.03万元。 最近三个交易日，15日-20日，北部湾港分别获融资买入0.25亿元、0.31亿元、0.16亿元。 ...

Investment Rating - The report assigns an "Add" rating for the company [2] Core Views - The company leverages shipping resources from its major shareholder to enhance port and shipping synergy, while expanding its global asset layout, particularly moving from the Northern Hemisphere to the Southern Hemisphere [1][6] - The company operates and manages 375 berths across 39 ports globally, with a total throughput of 140 million TEU in 2024, representing a year-on-year increase of 6.1% [6][19] - The company has a strong focus on high-margin mature assets in domestic markets, contributing over 80% of total profits [30][61] Summary by Sections 1. Global Layout and Asset Acquisition - The company is a core platform for global port operations under the COSCO Shipping Group, focusing on building a comprehensive network of coastal and overseas hub ports [12] - The company has established long-term partnerships in key domestic regions and is expanding its overseas strategic layout in Europe, Southeast Asia, the Middle East, and Latin America [12][19] 2. Domestic High-Margin Asset Focus - The company’s domestic operations are concentrated in the Bohai Rim and Pearl River Delta regions, with significant contributions from investments in Qingdao International and Tianjin Container Terminal [58][61] - The domestic port assets maintain a higher gross margin compared to overseas assets, with the gross margin for domestic terminals at 35.8% in Q1 2025 [39][61] 3. Global Expansion and Shipping Resource Empowerment - The company has rich experience in overseas acquisitions, primarily focusing on European hub ports and greenfield projects in the Middle East, with plans to expand into emerging markets in South America and Southeast Asia [6][22] - The proportion of container volume from Ocean Alliance customers has increased from 51.8% in 2017 to 54.6% in 2024, indicating a strengthening of global partnerships [6][22] 4. Financial Forecast and Investment Recommendations - The company’s revenue is projected to grow steadily, with total revenue expected to reach 11.36 billion RMB in 2025, reflecting a year-on-year growth of 5% [7] - The report forecasts net profits for 2025-2027 to be 2.44 billion, 2.64 billion, and 2.83 billion RMB respectively, with a corresponding PE ratio of 8.9x for 2025 [7][6]