航线方面，践行多通道战略布局，投入"长乐公主"轮、"万荣海"轮2艘大型客滚船舶至海口—北海航 线，实现航线运力升级和双向对开；新开通海口至防城港航线，深化琼桂经贸合作，进一步服务自贸港 建设与西部陆海新通道国家战略，构建更加完善高效的过海运输体系。 持续落地转型升级举措 2017年公司增发股份收购海南港航的轮渡码头资产，业务扩展至港口服务，迈出港航一体化的第一步； 2021年完成琼州海峡航运资源整合，提升琼州海峡"黄金水道"运输服务能力；2025年现金收购中远海运 客运100%股权，客滚船规模达到64艘（截至收购时），全球排名居前……成立于2002年的海峡股份如 今主营以琼州海峡及渤海湾为中心的客滚运输业务，经营着海口至海安、烟台至大连、三亚至西沙等多 条航线，正着力成为中国最优最强的轮渡运输服务商之一。 为了进一步提升核心竞争力，海峡股份正持续进行数字化转型升级，以信息技术为核心驱动，在港口领 域通过智能售票配载、检票、结算及调度系统，打造高效智能化生产模式，实现资源高效整合；在航运 领域依托"三网融合"技术，强化船舶全时段监控，并推动舱内安全预警、智能避碰系统建设，提升航行 安全预判能力，全面优化港口与航 ...

● 本报记者 孟培嘉 "海南自贸港全岛封关运作，对公司而言不仅是政策红利的'点火器'，更是成立二十余年来最具战略意 义的历史性机遇。"海峡股份总经理蔡泞检在接受中国证券报记者采访时表示，公司将持续扛起琼州海 峡"黄金水道"门户担当，力争成为中国最优最强的轮渡运输服务商之一。 持续落地转型升级举措 2017年公司增发股份收购海南港航的轮渡码头资产，业务扩展至港口服务，迈出港航一体化的第一步； 2021年完成琼州海峡航运资源整合，提升琼州海峡"黄金水道"运输服务能力；2025年现金收购中远海运 客运100%股权，客滚船规模达到64艘（截至收购时），全球排名居前……成立于2002年的海峡股份如 今主营以琼州海峡及渤海湾为中心的客滚运输业务，经营着海口至海安、烟台至大连、三亚至西沙等多 条航线，正着力成为中国最优最强的轮渡运输服务商之一。 为了进一步提升核心竞争力，海峡股份正持续进行数字化转型升级，以信息技术为核心驱动，在港口领 域通过智能售票配载、检票、结算及调度系统，打造高效智能化生产模式，实现资源高效整合；在航运 领域依托"三网融合"技术，强化船舶全时段监控，并推动舱内安全预警、智能避碰系统建设，提升航行 安全 ...

Group 1: Investor Relations and Company Commitment - The company expresses deep concern for recent stock price fluctuations affecting investors and emphasizes its commitment to safeguarding investor interests through stable cash dividend policies and multi-level communication mechanisms [2][3] - The company highlights its benefits from the Hainan Free Trade Port policy, the weak cyclical nature of the shipping industry, and strong cash flow as key reasons for long-term investment [2] Group 2: Market Value Management - The company implements a high cash dividend ratio and employee stock incentive plans to align core employees' interests with the company, enhancing market value management [3] - Short-term stock price fluctuations are influenced by various factors, and investors are advised to focus on the company's long-term value and fundamentals [3] Group 3: Financial Performance and Strategic Investments - The company plans to issue medium-term notes not exceeding 50 billion yuan, pending board approval, to support debt repayment, working capital, and project investments [5][10] - The net profit attributable to shareholders has seen a decline due to increased costs from strategic investments and operational expansions, including the acquisition of new vessels [6][7] Group 4: Business Integration and Operational Efficiency - The company is working on improving operational efficiency through fleet integration and management optimization following the acquisition of China COSCO Shipping Passenger Transport [7] - Specific measures to enhance profitability include developing new customer sources, optimizing operational processes, and controlling variable costs [7] Group 5: Future Growth and Strategic Planning - The company aims to become the leading ferry service provider in China by integrating resources from the Bohai Bay and Qiongzhou Strait [10] - Future revenue growth is anticipated from favorable tax policies and improved infrastructure in Hainan, although performance will depend on various external factors [11] Group 6: Market Expansion and New Routes - Currently, the company has no direct plans to open routes to Southeast Asia but will evaluate new routes based on national policies and market potential [8] - The company is considering upgrading its vessels and services to enhance tourism offerings, aiming for a transition from traditional transport to hotel-style experiences [11]

Financial Performance - Net profit is expected to decline by 36.32% year-on-year, while operating cash flow net amount has increased by 20.99% year-on-year [3] - The company anticipates a recovery in the market in the second half of 2025, focusing on "revenue increase, cost control, and integration" as key strategies [2][3] Cost Control Strategies - The company aims to control three major variable costs: fuel, materials, and labor, while promoting the integration of China COSCO Shipping Passenger Transport into the listed company system [2][3] - Implementation of "five sharing" strategies in capacity, crew, management, digitalization, and marketing to enhance operational efficiency [4][6] Future Plans and Strategic Development - The company is currently operating the Sanya to Xisha tourism route and plans to optimize existing routes and develop new tourism products [3][6] - The strategic development focuses on "one body and two wings," with passenger and roll-on/roll-off transport as the core, and comprehensive logistics and marine tourism as the wings [3][6] Market and Policy Impact - The implementation of Hainan Free Trade Port policies is expected to reduce operational costs, including corporate income tax benefits [6] - The company is actively evaluating the feasibility of applying for duty-free licenses in response to potential policy changes [7][8] Infrastructure and Capacity Expansion - The new Haikou New Sea Roll-on/Roll-off Terminal is designed to handle 35 million passengers annually, enhancing the company's capacity [8] - Plans to acquire two new flat cargo ships and two green intelligent passenger roll-on/roll-off vessels to upgrade service quality [8] Ongoing Projects and Collaborations - The company is in discussions regarding the investment in Xuwen Port, with ongoing due diligence and negotiations [9] - Stable partnerships have been established in Fangchenggang and Beihai for various cargo sources, ensuring at least 80% cargo volume per trip [4][5]

Core Viewpoint - Bohai Ferry (603167.SH) is experiencing a steady increase in passenger flow during the peak summer travel season, supported by national consumption promotion policies [1] Group 1: Company Performance - In July, the company continued to see a stable upward trend in passenger traffic [1] - The company aims to seize market opportunities and enhance service quality and operational efficiency [1] - The focus is on providing travelers with a safer, more convenient, and comfortable travel experience [1]

Core Points - The China Railway Bohai Ferry Co., Ltd. has launched a ticketing service on the "Railway 12306" platform, allowing passengers to purchase ferry tickets online and manage bookings [1][5] - The ferry service connects Shandong and Liaodong peninsulas, significantly reducing travel distance by over 1600 kilometers compared to traditional routes, and is recognized as the longest railway ferry route in Asia [3] - The company operates three ferries that can transport passengers, cars, and trucks, and offers various onboard amenities to enhance the travel experience [5] Group 1 - The ticketing service allows for online booking, with features such as flight information queries and online modifications available up to 10 days in advance [1] - The ferry route provides a direct connection between popular tourist cities Dalian and Yantai, with an approximate travel time of 7 hours [3] - The company is optimizing the integration of high-speed rail and ferry services to provide a seamless travel experience for passengers [3] Group 2 - The booking process involves selecting the ferry route and date, choosing cabin class, and completing payment through the Railway 12306 App [5] - The ferries are equipped with various facilities including cinemas, supermarkets, restaurants, and conference rooms, catering to both passenger and freight transport needs [5] - The company has implemented flexible scheduling to accommodate seasonal demand, ensuring efficient and comfortable transportation services [5]