华贸物流(603128) 2024 年年度股东大会会议文件 港中旅华贸国际物流股份有限公司 会议文件 INTERNATIONAL 港中旅华贸国际物流股份有限公司 尊敬的各位股东及股东代表： 根据上海证券交易所《上海证券交易所上市公司自律监管指引第 1 号——规 范运作》（下称"《规范运作指引》"），港中旅华贸国际物流股份有限公司（以 下简称"华贸物流"或"公司"）股东通过上海证券交易所股东大会网络投票系 统行使表决权的，既可以登陆交易系统投票平台（通过指定交易的证券公司交易 终端）进行投票，也可以登陆互联网投票平台（网址：vote.sseinfo.com）进行投 票。现就本次股东大会网络投票特别提请注意如下相关事项： 一、 交易系统投票平台 公司股东通过上交所交易系统投票平台投票的，可以通过股东账户登录其指 定交易的证券公司交易终端，参加网络投票。 通过交易系统投票平台进行网络投票的时间为股东大会召开当日的交易时 间段，即 2025 年 6 月 30 日 9:15-9:25，9:30-11:30，13:00-15:00。 二、 互联网投票平台 公司股东通过上交所互联网投票平台投票的，可以登录上交所互联网投票平 ...

近日，环世国际物流控股有限公司(下称"环世物流")向香港资本市场发起了冲刺，在港交所递交了招股书，中信证券及招银国际为联席保荐人。 作为国内民营跨境物流的头部企业，环世物流获得了包括阿里系菜鸟和中远海运(00517.HK)等机构的投资，且与菜鸟成立了合资公司。但航运业受周期影响 极强，公司业绩如"过山车"般起伏，全球经贸波动仍是其最大风险点。 民营跨境物流综合服务行业一哥 环世物流成立于2003年，是国家5A级物流企业，拥有国际海运集装箱整箱及拼箱、件杂货、大宗散货、集运、国际空运、国际陆运、化工物流、工程项目 物流、跨境电商物流等产品线，可为全球客户提供端到端的国际物流履约服务。 该公司提供的端到端综合服务涵盖国际物流流程的各个阶段，包括港前拖车、报关和仓储，运输，清关、目的港拖车和仓储，以及终端配送。目前，公司全 球物流网络涵盖超过6000条跨境航线，覆盖约200个国家及地区。 环世物流在市场中占据重要地位，弗若斯特沙利文数据显示，2024年，以网络覆盖的国家及地区数量及支持跨境航线数量两项核心指标来计，环世物流位列 中国民营跨境综合物流服务商第一，并以集装箱吞吐量位列全球综合物流服务商第八位；此外，在" ...

6月10日，华贸物流今日收盘6.51元，上涨1.88%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到17.40倍，总市值85.22亿元。 从行业市盈率排名来看，公司所处的物流行业行业市盈率平均25.26倍，行业中值27.43倍，华贸物流排 名第26位。 港中旅华贸国际物流股份有限公司的主营业务是第三方国际综合物流和国际物流方案的提供和服务。公 司的主要产品是综合物流服务、国际空运、国际海运、跨境电商物流、特种物流、仓储第三方物流、国 际工程物流、铁路货运代理、其他物流。全球物流业权威杂志《TransportTopics》发布了最新全球海 运、空运货代50强榜单，华贸物流分别排名全球第16，公司已成功跻身具有国际竞争力的物流企业行 列。 最新一期业绩显示，2025年一季报，公司实现营业收入39.92亿元，同比2.82%；净利润1.18亿元，同 比-29.42%，销售毛利率11.39%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)26华贸物流17.4015.821.4085.22亿行业平均 25.2627.711.92170.80亿行业中值27.4326.521.7554.64亿1瑞茂 ...

Core Viewpoint - The article analyzes the differences between international air freight and sea freight, highlighting their unique advantages and applicable scenarios, which significantly impact supply chain efficiency and cost control in global trade [2][8]. Group 1: Transportation Speed - Air freight is characterized by its remarkable speed, typically taking 3-5 days for shipments from China to the U.S. West Coast, making it ideal for time-sensitive products like electronics and fashion items [2][8]. - In contrast, sea freight is slower, requiring approximately 13-18 days to the U.S. West Coast and 25-35 days to the East Coast, which is acceptable for less time-sensitive goods like daily necessities and construction materials [2][8]. Group 2: Transportation Cost - Air freight costs range from 30 to 80 RMB per kilogram, influenced by weight, volume, and flight schedules, making it expensive [2][8]. - Sea freight is more economical, with costs for a 20-foot standard container from China to the U.S. West Coast ranging from 1,500 to 3,000 USD, translating to as low as a few RMB per kilogram, suitable for heavy and bulky items [2][8]. Group 3: Transportation Capacity - Air freight has limited cargo capacity, typically accommodating tens of tons, making it suitable for smaller and lighter goods [3][4]. - Sea freight offers vast capacity, with large container ships able to carry thousands of standard containers, ideal for oversized machinery, vehicles, and bulk commodities [4][8]. Group 4: Transportation Risks - Air freight is less affected by weather and has lower risks of theft and damage, but delays can be complex and costly [4][8]. - Sea freight, while generally stable, faces risks from adverse weather and piracy, but advancements in maritime technology and insurance have mitigated these risks [4][8]. Group 5: Operational Processes - Air freight has a simpler and more efficient operational process, with customs clearance completed in 2-3 days if documentation is complete [6][8]. - Sea freight involves a more complex process with multiple steps, potentially taking 5-7 days or longer for customs clearance [6][8]. Group 6: Selection Strategy - For high-value goods, urgent items, or small and light shipments, air freight is recommended due to its speed despite higher costs [7][8]. - Sea freight is preferable for large, heavy shipments, non-urgent goods, and strict cost control, leveraging its capacity and lower costs [7][8].

港中旅华贸国际物流股份有限公司的主营业务是第三方国际综合物流和国际物流方案的提供和服务。公 司的主要产品是综合物流服务、国际空运、国际海运、跨境电商物流、特种物流、仓储第三方物流、国 际工程物流、铁路货运代理、其他物流。全球物流业权威杂志《TransportTopics》发布了最新全球海 运、空运货代50强榜单，华贸物流分别排名全球第16，公司已成功跻身具有国际竞争力的物流企业行 列。 6月5日，华贸物流今日收盘6.38元，下跌1.09%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到17.05倍，总市值83.52亿元。 从行业市盈率排名来看，公司所处的物流行业行业市盈率平均25.27倍，行业中值28.32倍，华贸物流排 名第26位。 截至2025年一季报，共有7家机构持仓华贸物流，其中其他2家、社保2家、基金2家、保险1家，合计持 股数65815.14万股，持股市值37.45亿元。 最新一期业绩显示，2025年一季报，公司实现营业收入39.92亿元，同比2.82%；净利润1.18亿元，同 比-29.42%，销售毛利率11.39%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)26华贸 ...

5月29日，华贸物流今日收盘6.63元，上涨2.79%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到17.72倍，总市值86.79亿元。 从行业市盈率排名来看，公司所处的物流行业行业市盈率平均25.18倍，行业中值27.02倍，华贸物流排 名第27位。 序号股票简称PE(TTM)PE(静)市净率总市值(元)27华贸物流17.7216.111.4286.79亿行业平均 25.1827.731.91172.18亿行业中值27.0225.631.8151.88亿1瑞茂通-1807.5074.900.6349.88亿2飞力达-428.73- 300.322.4435.26亿3胜通能源-411.69-162.201.8227.40亿4华鹏飞-118.64204.263.8335.01亿5普路通-92.54- 34.782.5029.42亿6中科微至-69.28-56.661.3648.02亿7长江投资-38.68-40.2321.9530.13亿8新宁物流-34.69- 31.0010.9122.56亿9*ST原尚-24.42-27.022.5214.42亿10龙洲股份-7.64-8.512.6229. ...

环世国际物流控股有限公司（以下简称"环世物流"）近期正式向港交所递交了上市申请，标志着这家物流巨头即将踏上资本市场的新征程。 截至2024年12月31日，环世物流持有的现金及现金等价物为1.15亿元，为公司未来的业务拓展和持续发展提供了坚实的资金保障。 在股权结构方面，环世物流的股权相对分散。IPO前，执行董事林杰持股31.54%，成为公司最大股东。菜鸟作为重要的战略投资者，持股比例为29.34%， 显示出其对环世物流未来发展的坚定信心。创新工场旗下S-UNIVERSE、Planetree Partners I及Planetree Partners II等投资机构也持有一定比例的股份。 环世物流此次上市，无疑将为公司带来新的发展机遇。随着资本市场的助力，环世物流有望进一步巩固其在国际物流领域的领先地位，为客户提供更加优 质、高效的服务。 从财务数据来看，环世物流近年来保持了稳健的发展态势。招股书显示，公司在2022年至2024年期间，营收分别为20.6亿美元、7.76亿美元和12.51亿美 元。尽管2023年营收有所下滑，但2024年成功实现反弹，显示出较强的市场恢复能力。同时，公司的毛利率也呈现出逐年提升的 ...

Global Container Shipping Market Analysis - The global shipping trade scale is expected to reach 12.66 billion tons by 2024, showing a stable growth trend after a decline in 2020 due to the pandemic [1] - The share of dry bulk and container ships in global shipping capacity is projected to reach 43% and 14% respectively by 2024 [2] - The global container shipping volume is estimated to be approximately 212 million TEU in 2024, reflecting a year-on-year growth of 5.6% [4] Regional Shipping Insights - In 2024, the East-West routes, North-South routes, and intra-Asian routes are expected to account for 40%, 17%, and 31% of the global container shipping volume respectively [7] China Container Shipping Market Analysis - China's marine cargo volume is projected to reach 4.8 billion tons in 2024, up from 4.577 billion tons in 2023 [10] - The container throughput at Chinese ports is expected to grow to 333 million TEU in 2024, with a historical breakthrough of 300 million TEU in 2023 [13] International Freight Forwarding Market Analysis - The global value added in international freight forwarding is anticipated to decline to $4 trillion in 2024, following a period of increase and subsequent decline due to various market factors [14] Digitalization in Container Shipping - The global international freight service platform market is projected to reach approximately $47.31 billion in 2024, with a significant growth rate expected from 2024 to 2029 [17] - The demand for digital freight forwarding in the maritime sector is estimated to account for about 37.7% of the market in 2024, indicating a growing trend towards digitalization [17] Competitive Landscape of International Freight Service Platforms - The international freight service platform market is categorized into three tiers, with leading companies like China Ocean Shipping, Kuehne+Nagel, and DHL in the first tier, followed by innovative platforms like Meiri Chuxing and Yunquna in the second tier [18]

Core Insights - The stock price of Huamao Logistics closed at 6.43 yuan, down 2.28%, with a rolling PE ratio of 17.18 times and a total market capitalization of 8.417 billion yuan [1] - The average PE ratio for the logistics industry is 24.60 times, with a median of 23.53 times, placing Huamao Logistics at the 27th position in the industry ranking [1] - As of the first quarter of 2025, seven institutions held shares in Huamao Logistics, with a total holding of 658.1514 million shares valued at 3.745 billion yuan [1] Company Overview - Huamao International Logistics Co., Ltd. specializes in third-party international comprehensive logistics and international logistics solutions [1] - The main products offered by the company include comprehensive logistics services, international air and sea freight, cross-border e-commerce logistics, special logistics, third-party warehousing logistics, international engineering logistics, and railway freight forwarding [1] - According to the latest rankings by the authoritative global logistics magazine "Transport Topics," Huamao Logistics ranks 16th among the top 50 global sea and air freight forwarders, indicating its competitive position in the international logistics market [1] Financial Performance - In the first quarter of 2025, Huamao Logistics reported an operating revenue of 3.992 billion yuan, a year-on-year increase of 2.82%, while net profit was 118 million yuan, reflecting a year-on-year decrease of 29.42% [1] - The sales gross margin for the company stood at 11.39% [1]

Group 1 - The core viewpoint of the articles highlights Huamao Logistics' current market performance, including a stock price of 6.72 yuan, a decline of 3.45%, and a rolling PE ratio of 17.96 times, with a total market capitalization of 8.797 billion yuan [1] - The logistics industry has an average PE ratio of 24.56 times and a median of 24.03 times, positioning Huamao Logistics at the 27th rank within the industry [1] - As of the first quarter of 2025, seven institutions hold shares in Huamao Logistics, with a total holding of 658.1514 million shares valued at 3.745 billion yuan [1] Group 2 - Huamao Logistics specializes in third-party international comprehensive logistics and international logistics solutions, offering services such as comprehensive logistics, international air and sea freight, cross-border e-commerce logistics, special logistics, and third-party warehousing [1] - According to the latest rankings from the global logistics magazine "Transport Topics," Huamao Logistics ranks 16th among the top 50 global sea and air freight forwarders, indicating its competitive position in the international logistics market [1] - The latest financial results for the first quarter of 2025 show that the company achieved an operating revenue of 3.992 billion yuan, a year-on-year increase of 2.82%, and a net profit of 118 million yuan, a year-on-year decrease of 29.42%, with a gross profit margin of 11.39% [1]