中国汽车流通协会副秘书长郎学红此前表示，汽车市场机遇已从原来的以新车为主，逐渐向后市场转 移。从汽车诞生100多年的发展轨迹来看，我国目前处于普及后期，未来10—15年仍会有3%—5%的增 速，这会带动后市场实现5%-7%的年均增长。后市场是滞后于新车的慢指标，但增长空间仍很大。 近日，商务部副部长盛秋平主持召开汽车后市场发展暨汽车流通消费改革工作座谈会。盛秋平表示，商 务部贯彻落实党中央、国务院《提振消费专项行动方案》部署要求，开展汽车流通消费改革试点工作， 支持有条件的城市结合本地实际深化改革、积极创新、先行先试，激发汽车后市场消费活力。下一步， 商务部将会同有关部门推动清理汽车后市场消费领域限制性措施，进一步释放汽车后市场消费潜力。 业界分析认为，汽车后市场涉及从汽车购置到最终报废的整个过程，市场规模高达数万亿元。随着政策 利好的进一步释放，产业链上汽车用品、汽车养护与维修、汽车金融、报废汽车回收以及汽车改装、房 车露营、汽车赛事等相关领域受益。 智研咨询数据显示，2019-2023年，中国汽车后市场规模复合年增长率为9.2%，2023年市场规模达到5.4 万亿元，反映了市场需求的持续增长和行业的快速发 ...

盛秋平表示，商务部贯彻落实党中央、国务院《提振消费专项行动方案》部署要求，开展汽车流通消费 改革试点工作，支持有条件的城市结合本地实际深化改革、积极创新、先行先试，激发汽车后市场消费 活力。下一步，商务部将会同有关部门推动清理汽车后市场消费领域限制性措施，进一步释放汽车后市 场消费潜力。 9月17日，商务部副部长盛秋平主持召开汽车后市场发展暨汽车流通消费改革工作座谈会。来自地方政 府、企业、行业协会、研究机构的17家单位代表参会，围绕汽车改装、房车露营、汽车赛事、传统经典 车、汽车博物馆等议题进行了交流。 商务部、工业和信息化部、公安部、交通运输部、文化和旅游部、海关总署、体育总局等参会部门代表 对反映的问题和建议进行了回应。与会企业和协会代表表示将积极开展相关工作，推动汽车后市场高质 量发展。 ...

Summary of China Merchants Energy Shipping Company Conference Call Company Overview - **Company**: China Merchants Energy Shipping Company - **Industry**: International Freight and Shipping Key Financial Metrics - **2024 Full Year ROE**: 13% [2] - **Operating Cash Flow**: 8.476 billion CNY [2] - **Cash Dividend**: 2.08 billion CNY, representing 40% of net profit attributable to shareholders [2] - **Dividend Yield**: Approximately 4% [2] - **2024 Total Revenue**: 25.8 billion CNY, a decrease of 0.3% year-on-year [4] - **Net Profit for 2024**: 5.1 billion CNY, an increase of approximately 6% year-on-year [4] - **Basic Earnings Per Share**: 0.63 CNY [4] Q1 2025 Performance - **Revenue**: Decreased by 10% year-on-year [5] - **Net Profit**: Decreased by 37% to 0.865 billion CNY [5] - **Reason for Decline**: Fluctuations in transportation prices in January [5] Business Segmentation and Contribution - **Main Business Areas**: Oil and gas transportation, dry bulk shipping, supplemented by container and car modification services [2][8] - **2024 Mixed Volume**: Close to 200 million tons, with a turnover increase of 11% [2][8] - **Profit Contribution by Segment**: - Oil Shipping: 50.6% of profit (2.6 billion CNY) [9] - Dry Bulk: Approximately 30% (1.5 billion CNY) [9] - Container: 25% (1.3 billion CNY) [9] - Roll-on/Roll-off: 6% (0.34 billion CNY) [9] - LNG Transportation: 11.6% [9] Strategic Initiatives - **Cost Management**: Reduced warehouse rental costs by over 30% [10] - **Fleet Expansion**: Ordered 32 new ships to improve capacity structure [10] - **Focus Areas**: Development of cruise ships, LNG, and dry bulk transportation [10] Risks and Challenges - **Macro-Economic Risks**: Potential impacts from global economic conditions [3][11] - **Geopolitical Risks**: Ongoing tensions in the Middle East could affect operations [3][6][11] - **Environmental Compliance**: Need for timely fleet updates to avoid penalties for emissions [3][11] Market Dynamics - **Impact of Middle East Tensions**: Oil transportation price index increased from 30,000 USD to 50,000 USD due to conflicts, with expected performance impacts in Q3 [6][7]