Core Viewpoint - The controlling shareholder, Port Group, plans to extend the commitment period to avoid competition until the end of 2030, pending approval from the company's shareholders' meeting [1] Group 1 - The extension of the commitment period is in compliance with relevant regulations and will not harm the interests of the company and its shareholders [1] - The Port Group had previously committed to injecting qualifying berth assets into the company by the end of 2025, but as of now, certain companies or berths, such as Lianyungang Xinxu Port, have not met the injection conditions [1] - The company's board of directors has reviewed and approved the proposal on December 5, and it will be submitted to the shareholders' meeting for further consideration [1]

Core Viewpoint - The dredging service project for the main channel expansion and reconstruction at the southern operational area of Rizhao Port, undertaken by China Communications (Tianjin) Dredging Engineering Co., Ltd., has successfully passed acceptance inspection [1]. Group 1: Project Overview - The project is located in the southern operational area of Rizhao Port in Shandong Province and includes dredging for the triangular area inside the corner of the main channel and the widening area outside, as well as maintenance dredging for the channel [3]. - The project faced multiple challenges such as frequent navigation interference, thin mud layers, significant weather impacts from the open sea, and high risks associated with bow blow operations [3]. Group 2: Project Management and Execution - The company implemented a scientific organization and precise strategies to ensure the safe, high-quality, and efficient advancement of the project, including detailed construction control, priority navigation channel excavation, and effective communication with port and maritime departments [3]. - An emergency weather response mechanism was established to deploy anti-wind and wave measures in advance, ensuring safety and progress during construction [3]. - The project adhered to strict environmental protection requirements, implementing pollution prevention measures to ensure zero pollution and zero emissions during the construction process [3]. Group 3: Project Impact and Future Prospects - Upon completion, the project will significantly enhance the navigation conditions and operational efficiency of the main channel in the southern operational area of Rizhao Port, ensuring the safety of vessel navigation, berthing, and operations [5]. - This project represents another significant achievement for China Communications (Tianjin) Dredging Engineering Co., Ltd. in the Shandong port market, laying a solid foundation for the company to deepen its presence in the Shandong market and expand its business in the Bohai Rim region [5].

Core Viewpoint - North Bay Port is experiencing rapid growth in cargo throughput and revenue, with significant increases in both overall and container volumes, driven by strategic initiatives and infrastructure improvements [1][5][6]. Group 1: Cargo Throughput and Growth - As of November 2025, North Bay Port's cumulative cargo throughput reached 329 million tons, marking a year-on-year increase of 10.19% [1][3]. - The container throughput for the same period totaled 9.1023 million TEUs, reflecting a growth of 10.75% year-on-year [1][3]. - The port's cargo throughput has grown from 156 million tons in 2017 to 328 million tons in 2024, with an average annual growth rate of 11.1% [3]. Group 2: Revenue and Profitability - For the first three quarters of 2025, North Bay Port reported revenue of 5.535 billion yuan, a year-on-year increase of 12.92%, achieving 74.8% of its annual revenue target [5][6]. - The net profit excluding non-recurring items reached 725 million yuan, up 22.63% year-on-year, indicating strong operational performance [5][6]. Group 3: Strategic Initiatives - The company has focused on expanding cargo sources and optimizing operational processes, including the establishment of a dedicated team for container cargo sourcing and enhancing intermodal transport [4][6]. - North Bay Port aims to achieve a cargo throughput of 330 million tons and container throughput exceeding 10 million TEUs by the end of 2025, aligning with its strategic goals [4]. Group 4: Infrastructure and Development - North Bay Port currently manages 91 coastal production berths with an annual throughput capacity of 451 million tons, including a container throughput capacity of 11.04 million TEUs [2]. - The port has opened 98 container shipping routes, enhancing its connectivity with both domestic and international markets [2]. Group 5: Innovation and R&D - The company is committed to innovation, focusing on smart and green transformation, with increasing R&D expenditures from 8.562 million yuan in 2022 to 29.32 million yuan in the first three quarters of 2025 [7].

证券代码：601880 证券简称：辽港股份 公告编号：临2025-063 辽宁港口股份有限公司 2025年第二次临时股东会决议公告 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。 重要内容提示： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东会召开的时间：2025年12月4日 (二)股东会召开的地点：大连市中山区港湾街1号辽港集团会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况等。 非累积投票议案 1、议案名称：关于修订《辽宁港口股份有限公司章程》的议案 审议结果：通过 表决情况： ■ 2、议案名称：关于购买董事高管责任险的议案 本次会议由公司董事会召集，公司董事长李国锋先生出席并主持本次股东会，本次会议以现场投票和网 络投票相结合的方式进行，会议的召集、召开和表决方式符合《中华人民共和国公司法》《辽宁港口股 份有限公司章程》等相关规定。 (五)公司董事和董事会秘书的出席情况 1、公司在任董事8人，出席8人 ...

证券代码：601880 证券简称：辽港股份 公告编号：临2025-062 辽宁港口股份有限公司 关于变更公司电子邮箱的公告 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个别及连带责任。 辽宁港口股份有限公司（以下简称"公司"）为进一步做好投资者关系管理工作，结合公司实际经营管理 需要，对公司电子邮箱进行变更，具体情况如下： ■ 上述变更后的电子邮箱自本公告披露之日起正式启用，原电子邮箱同步停用。除上述变更外，公司办公 地址、联系电话等其他联系方式均保持不变。 敬请广大投资者注意上述变更，由此带来的不便，敬请谅解。 特此公告。 辽宁港口股份有限公司董事会 2025年12月4日 证券代码：601880 证券简称：辽港股份 公告编号：临2025-063 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。 重要内容提示： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东会召开的时间：2025年12月4日 辽宁港口股份有限公司 2025年第二次临时 ...

Summary of Key Points from Conference Call Records Industry Overview - **Transportation Sector**: Focus on supply-demand improvement and growth stocks for 2026, with a historical high in airline passenger load factor in 2025 but a decline in ticket prices due to weak demand and competition among airlines [1][6] - **Oil Shipping Sector**: Expected to benefit from OPEC+ production increases, long-distance crude oil exports, and geopolitical factors, leading to an anticipated rise in freight rates [1][4] - **Express Delivery Industry**: Slowing internal growth with price pressures and competition from instant delivery services, with a projected price decline of around 2% in 2026 [1][22] Core Insights and Arguments - **Airline Industry**: - Supply growth is expected to slow to 4.4% in 2026 due to fewer aircraft introductions and high utilization rates. Demand growth is projected at 5.3%, slightly above GDP growth, driven by business recovery and increased inbound tourism [2][6] - Airlines are expected to focus on ticket pricing management due to historical high load factors, with significant profit elasticity anticipated [2][6] - **Oil Market**: - Global crude oil supply is expected to be in surplus in 2026, primarily from the U.S. and Brazil, leading to a decline in oil prices [1][10][11] - Geopolitical factors will add marginal volatility, with freight rates expected to stabilize around $50,000 to $60,000 [12][13] - **Port and Shipping Industry**: - The port sector is experiencing low single-digit growth in export volumes, with a recovery in import bulk cargo throughput expected in 2026 [3][15] - The shipping sector is entering an upward cycle, with expectations for a second wave of price increases post-Spring Festival [1][8] - **Express Delivery Companies**: - Recommended companies include ZTO Express, SF Express, and Jitu Express, focusing on cost optimization through automation and potential growth in Southeast Asia [1][24] Additional Important Insights - **Railway Logistics**: - Container penetration in the railway logistics sector is expected to increase significantly, with recommendations for leading companies in this niche [3][20] - **Airport Sector**: - A neutral outlook due to slow recovery in non-aeronautical revenue streams, with a need for more effective monetization strategies [3][7] - **Market Recommendations**: - Investors are advised to hold current positions or increase holdings during seasonal lows in December and January, particularly in the oil shipping sector [13] - **Growth Stocks**: - Focus on industry leaders with attractive valuations, companies in expanding niches, and high-dividend stocks for stable returns [1][5] This summary encapsulates the key points from the conference call records, providing a comprehensive overview of the transportation sector's outlook for 2026, including specific recommendations and insights into various sub-sectors.

Core Insights - Nantong City has achieved significant milestones in transportation construction during the "14th Five-Year Plan," with a total investment of 120 billion yuan, marking a historical high and solidifying its status as a national comprehensive transportation hub [1] Group 1: Transportation Infrastructure Development - The construction of cross-river passages has made historic breakthroughs, with the "Eight Dragons Crossing the River" pattern accelerating formation. Key projects such as the Sutong Bridge, Chongqi Bridge, and the Shanghai-Suzhou-Nantong Yangtze River Rail and Road Bridge are now operational [1] - The highway network has been enhanced, forming a "three-ring seven-radiation" structure, with over 90% of the physical work on the Nantong section of the North Jiangsu High-speed Railway completed [1] - The waterway infrastructure has seen improvements, with a planned upgrade of 207 kilometers of waterways, and Nantong Port is expected to handle a cargo throughput of 340 million tons in 2024, with a container throughput of 2.719 million TEUs, representing a year-on-year increase of 33.1% [1] Group 2: Logistics and Transportation Efficiency - The capabilities of logistics hubs have significantly improved, with the opening of the Lvsijikou Port Area and the official approval of Nantong as a national logistics hub [1] - Breakthroughs in multimodal transport have been achieved, including the launch of the first ocean shipping route and the regular operation of the "China-Kyrgyzstan-Uzbekistan" international rail freight service [1] Group 3: Smart and Green Transportation Initiatives - Nantong has established the province's first fully automated container terminal and a digital transportation industrial park that houses 53 enterprises in the supply chain [1] - The city has successfully created a national model for urban green freight distribution, leading to the formation of the "Nantong Model" [1] Group 4: Public Transportation and Accessibility - The "Four Good Rural Roads" initiative has been recognized as a national demonstration project, with 446 dangerous bridges renovated, achieving a 5A rating for urban-rural transportation integration across all counties [2] - Railway passenger volume has exceeded 13 million annually, and airport passenger throughput has reached a new high of 4.1 million, with urban rail transit carrying approximately 100 million passengers [2] Group 5: Future Outlook - Looking ahead to the "15th Five-Year Plan," Nantong aims to complete multiple cross-river passages and high-speed rail projects, targeting a container throughput of over 3.5 million TEUs at its ports [2] - By 2030, the city plans to achieve modern transportation system standards ahead of the province, establishing a robust modern comprehensive transportation system [2]

"上市公司董办最佳实践"案例征集活动是中国上市公司协会对上市公司董事会办公室履职情况进行评 价，评价体系涵盖了上市公司董办工作所涉及的信息披露管理事务、公司治理机制建设、投资者关系管 理事务、相关制度的制定和修订、监督培训等指标，整体设定科学完备、公正客观。 12月3日，中国上市公司协会发布"上市公司董办最佳实践案例征集活动"结果，盐田港入选2025上市公 司董办最佳实践案例。 盐田港表示，公司高度重视规范治理水平，不断完善企业体制机制，推动管理创新，全面强化战略执行 力和市场竞争力，进一步提升了组织效能，确保了企业高质量发展的稳步推进。此外公司高度重视市值 管理和股东回报，以实际行动坚持持续稳定分红，努力提升公司的经营业绩和内在价值。上市以来，公 司坚持每年现金分红，已累计分红超70亿元。 公司董事会高度重视公司高质量持续健康发展，持续做好各项经营管理工作。未来，公司将深耕深圳， 立足粤港澳大湾区，协同长江经济带，抢抓发展机遇。深度进行粤东、深西及长江经济带三个核心组团 布局，与盐田母港形成联动和业务协同。重点围绕集装箱、煤炭、铁矿石、新能源汽车，打造四个核心 专业能力，布局重要节点港口或多式联运项目，打造 ...

Group 1 - The core viewpoint of the article highlights the rapid development and strategic importance of the Chancay Port in Peru, which has become the third-largest port in the country within a year of its opening on November 14, 2024 [1][3] - The port has established multiple direct shipping routes to China, reducing maritime transport time to 23-25 days and decreasing logistics costs by 30% [3] - Local government officials emphasize that the port not only boosts exports but also stimulates the development of related industries in the surrounding areas, creating more job opportunities [3][5] Group 2 - The mayor of Chancay, Juan Alvarez, noted significant improvements in the local economy and service levels, viewing the port as a tremendous opportunity for enhancing construction and environmental management [5] - A youth congress member stated the strategic significance of Chancay Port, advocating for the improvement of road and rail networks to connect the port with the entire country, positioning it as a key driver of national economic development [7] - Diego Bazan Calderon, chairman of the youth congress delegation, observed a substantial increase in container traffic during their visit, indicating the port's effective operation and rapid growth [9]

每经记者｜刘艳美 每经编辑｜杨欢 12月2日至3日，广西壮族自治区党委书记、自治区人大常委会主任陈刚到钦州市、北海市开展向海经济发展专题调研，并在北海召开向海经济发展座谈会， 强调要大力推动向海经济高质量发展。 陈刚指出，要深刻认识推动向海图强、发展向海经济是时代必然、国家所需和广西优势所在。要牢固树立全国一盘棋和全区一盘棋思想，坚持陆海统筹、全 域向海，进一步强化向海思维、做好向海文章。 作为我国西部地区唯一的沿海省份和最近出海口，广西在国家构建新发展格局中的地位和作用特殊，是加快实现海洋强国战略目标的重要一环。尤其是随着 西部陆海新通道上升为国家战略，广西的区位优势和战略地位更加凸显。 2019年，广西出台关于加快发展向海经济推动海洋强区建设的意见，"向海而兴、向海图强"成为广西经济发展的一条主线。近年来，广西相继出台系列政策 文件，并连续实施两轮向海经济三年行动计划，海洋经济对广西的经济发展拉动作用不断增强。 图片来源：《广西向海经济发展战略规划（2021—2035年）》 数据显示，2017至2024年，广西海洋生产总值从1377亿元增长到2580.9亿元，年均增长9.4%，海洋生产总值占地区生产总值比 ...