中创物流8月27日披露的半年报显示，公司上半年实现营业收入43.04亿元，同比下降22.58%；归属于上 市公司股东的净利润1.42亿元，同比增长6.9%；基本每股收益0.41元。 ...

申万宏源此前曾指出，预计未来6-8年华南物流园转型升级项目将持续释放业绩，叠加物流港资产证券 化实现资金回笼，看好公司业绩增长稳定。过去公司估值下修主要原因为市场对分红可持续性的担心， 考虑公司分红稳定，土地增值和物流港资产证券化成功，资金使用效率提升，后续分红有望维持，估值 有望按照历史均值修复。 消息面上，深圳国际发布中期业绩，上半年收入66.70亿港元，与去年同期持平；股东应占盈利同比下 跌25%至约4.90亿港元，主要由于去年同期集团两个物流港项目置入华夏深国际仓储物流封闭式基础设 施证券投资基金，录得税后收益约港币5.87亿元，而本期间并无该等收益。不派中期息。 深圳国际(00152)绩后跌超7%，截至发稿，跌7.12%，报7.43港元，成交额7961.73万港元。 ...

财务报表中对有大幅变动的财务项目的原因说明如下： 据证券之星公开数据整理，近期海程邦达（603836）发布2025年中报。截至本报告期末，公司营业总收 入42.24亿元，同比下降6.4%，归母净利润1791.55万元，同比下降74.85%。按单季度数据看，第二季度 营业总收入21.22亿元，同比下降16.64%，第二季度归母净利润2745.4万元，同比下降31.61%。本报告 期海程邦达公司应收账款体量较大，当期应收账款占最新年报归母净利润比达1861.26%。 交易性金融资产变动幅度为1173.68%,原因:理财产品购买增加。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率5.93%，同比减11.4%，净利率0.37%，同 比减76.88%，销售费用、管理费用、财务费用总计2.26亿元，三费占营收比5.34%，同比增20.2%，每股 净资产8.74元，同比增0.13%，每股经营性现金流0.26元，同比增116.73%，每股收益0.09元，同比减 74.29% 经营活动产生的现金流量净额变动幅度为116.73%,原因:本期销售回款增加。 应收票据变动幅度为142.04%,原因:银行承兑汇票增加。 使用 ...

Highlights of Q2 2025 results Solid results in a quarter characterized by strong volume in container liner services, high activity in Logistics but material decline in global freight rates affected margin in the Forwarding segment. Strong volume in the sailing system during the quarter which grew by 7.9%, considerably more than in the previous quarters. However volume grew more than revenue due to lower average prices.Despite modest volume decrease in international freight forwarding the quarter was marked ...

北京商报讯（记者 何倩）8月26日，北京商报记者从申通获悉，申通快递广东揭阳新中心已正式启用。 据了解，该中心建筑面积达16.4万平方米，毗邻揭阳机场、汕湛高速及广梅汕铁路，构建"30分钟覆盖 揭阳，2小时直达汕潮梅"物流圈。中心不仅引入高速交叉带、NC分拣系统等智能分拣系统，还开通了 省内路由8条，省际路由70余条，经过试运营日产能达千万级。 ...

板块市场回顾 本周（8/16-8/22）交运指数上涨 1.7%，沪深 300 指数上涨 4.2%，跑输大盘 2.5%，排名 21/29。交运子板块中快递板 块涨幅最大(+4.4%)，铁路板块跌幅最大(-0.1%)。 行业观点 快递：7 月顺丰快递业务量增速达 34%，在各快递公司中领跑。上周（8 月 11 日-8 月 17 日）邮政快递累计揽收量约 35.23 亿件，环比-0.06%，同比+11.81%；累计投递量约 35.11 亿件，环比-0.09%，同比+15.11%。2025 年 7 月，顺丰、 韵达、圆通、申通快递业务量同比分别+33.7%、+7.6%、+20.8%、+11.9%，市场份额分别为 8.4%、13.2%、15.8%、13.3%, 环比分别-0.3pct、+0.3pct、+0.2pct、+0.4pct。"反内卷"背景下，多个产粮区已提价，叠加行业旺季将来临，预 计快递单票价格有望提升。考虑估值性价比、经营韧性、股东回报提升等，推荐顺丰控股。 物流：危化品水运价格企稳回升，发力智慧物流推荐海晨股份。本周中国化工产品价格指数(CCPI)为 4024 点，同比 -10.3%，环比持平。上周液体化 ...

最新业绩出炉。 8月22日，万科发布的2025年半年报显示，上半年万科实现营收1053亿元，销售收入近700亿元，高质量交付 超4.5万套，销售回款率超100%。 数据还显示，公司归母净利润为亏损119.47亿元。报告期内业绩亏损的主要原因包括房地产开发项目结算规 模显著下降，毛利率仍处低位；结合行业、市场和经营环境变化，考虑到业务风险敞口升高，新增计提了资产 减值；部分大宗资产交易和股权交易价格低于账面值。 责编：李丹 校对：王锦程 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 证监会最新发布！证券公司分类评价新规来了 丨 最高80亿元！长江电力控股股东拟增持！ 丨 港 股，重大调整！ 丨 稀土重磅！三部门联合发布 丨 688256，20%涨停！科技股，史诗级暴涨！ 丨 A 股，重大突破！时隔10年，3800点！ 丨 芯片股，集体狂飙 ...

Core Viewpoint - China Shenhua's acquisition of assets from its controlling shareholder, China Energy Investment Corporation, aims to create a strategic synergy effect of "1+1>2" by addressing industry competition, enhancing resource reserves, optimizing industrial layout, and improving overall competitiveness and risk resistance [1][3]. Group 1: Transaction Overview - The transaction involves 13 target companies across various sectors including coal, coal-fired power, coal chemical, and logistics services [1]. - The restructuring is expected to resolve issues of industry competition and enhance the company's core competitiveness and sustainable profitability [1][3]. Group 2: Strategic Alignment - The acquisition aligns with national energy security strategies by consolidating resources from strategic bases in Xinjiang, Inner Mongolia, Shaanxi, and Shanxi, thereby improving supply stability and emergency response capabilities [3]. - This move is also a significant step in capital market reform, enhancing asset quality and scale efficiency through the integration of high-quality coal and related assets [3][5]. Group 3: Industry Impact - The restructuring is seen as a strong measure to promote orderly development and healthy competition within the energy sector, providing a replicable reform path for state-owned enterprises [5]. - It is expected to facilitate the transition of traditional energy companies towards greener and smarter operations, aligning with national carbon reduction goals [5][6]. Group 4: Financial Outlook - The target assets are projected to have a total asset value of 258.36 billion and a net profit of 8.01 billion for the year 2024, with a weighted average return on equity of 10.45% [8]. - China Shenhua has a strong dividend history, with cumulative cash dividends reaching 491.9 billion and an average payout ratio exceeding 60% [9]. - The company plans to distribute at least 65% of its net profit as cash dividends from 2025 to 2027, with a commitment to increase the frequency of dividends [9][10].

Core Viewpoint - China Shenhua's acquisition of assets from its controlling shareholder, China Energy Investment Corporation, aims to create a strategic synergy effect of "1+1>2" by enhancing resource reserves, optimizing industry layout, and improving overall competitiveness and risk resistance [1][2][3] Group 1: Strategic Objectives - The transaction aligns with national energy security strategies and capital market reforms, focusing on strengthening coal supply capabilities through the integration of strategic resource bases and logistics assets [2] - The restructuring is expected to enhance the company's capital strength and profitability, creating greater value for shareholders [2][3] - The acquisition addresses industry competition issues and promotes orderly development and healthy competition within the energy sector [3] Group 2: Asset and Financial Performance - The targeted assets have a total asset value of 258.36 billion yuan and a net asset value of 93.89 billion yuan, with projected operating revenue of 125.996 billion yuan and a net profit of 8.005 billion yuan for 2024 [5][6] - The average return on equity for the targeted assets is estimated at 10.45%, while China Shenhua's return on equity is 13.7% [5] - The company has a strong dividend history, with cumulative cash dividends reaching 491.9 billion yuan and a commitment to distribute at least 65% of net profit as dividends from 2025 to 2027 [6][7] Group 3: Market Position and Future Outlook - Post-restructuring, the company aims to enhance its market position and accelerate the transition towards greener and smarter coal industry practices [4] - The integration of high-quality resources is expected to support the company's strategic direction of becoming a leading comprehensive energy company based on coal [3][4] - The company is committed to maintaining dividend stability and increasing earnings per share (EPS) to ensure sustainable returns for investors [7]

Core Viewpoint - China Shenhua (601088.SH) plans to acquire 100% equity stakes in multiple subsidiaries from the State Energy Group through a combination of A-share issuance and cash payments, aiming to enhance its resource reserves and core business capacity [1][2]. Group 1: Acquisition Details - The acquisition includes 100% stakes in Guoyuan Power, Xinjiang Energy, Chemical Company, Wuhai Energy, Pingzhuang Coal, and several other companies, as well as a 41% stake in Shenyan Coal and a 49% stake in Jinshen Energy [1]. - The company will also purchase 100% equity in a shipping company, a coal sales company, an e-commerce company, a port company, and 100% equity in Inner Mongolia Construction Investment from Western Energy for cash [1]. Group 2: Strategic Implications - This transaction will allow China Shenhua to further integrate its coal mining, pithead coal power, coal chemical, and logistics service sectors, significantly increasing its resource reserve scale and core business capacity [2]. - The integration is expected to optimize the entire industry chain layout, reduce operational costs, and enhance sustainable profitability, thereby creating favorable conditions for the company [2]. - Post-transaction, China Shenhua aims to strengthen its integrated operational advantages, expand its main business scale, and consolidate its position as a leading global comprehensive energy company [2].