Core Viewpoint - Bohai Ferry experienced a decline of 0.89% on September 15, with a trading volume of 64.52 million yuan, indicating a potential shift in investor sentiment and market dynamics [1]. Financing and Trading Data - On September 15, Bohai Ferry had a financing buy-in amount of 6.67 million yuan, with a net financing purchase of 3.81 million yuan after 2.86 million yuan in repayments. The total financing and securities balance reached 14.5 million yuan, accounting for 3.09% of the circulating market value, which is above the 50th percentile level over the past year, indicating a relatively high financing level [1]. - In terms of securities lending, there were no shares repaid on September 15, with 11,500 shares sold, amounting to 115,000 yuan. The remaining securities lending volume was 26,700 yuan, which is below the 50th percentile level over the past year, indicating a low level of securities lending [1]. Company Overview - Bohai Ferry Group Co., Ltd. is located in Yantai, Shandong Province, and was established on October 15, 1998. It was listed on September 6, 2012. The company's main business includes passenger and cargo roll-on/roll-off shipping services between Yantai and Dalian, as well as other related services [1]. - The revenue composition of Bohai Ferry is as follows: passenger roll-on/roll-off transport accounts for 87.91%, cargo roll-on/roll-off transport for 12.02%, and other services for 0.07% [1]. Shareholder and Financial Performance - As of September 10, the number of shareholders for Bohai Ferry was 23,800, an increase of 2.72% from the previous period. The average circulating shares per person decreased by 2.65% to 19,686 shares [2]. - For the first half of 2025, Bohai Ferry reported a revenue of 728 million yuan, a year-on-year decrease of 5.02%, and a net profit attributable to shareholders of 102 million yuan, down 2.95% year-on-year [2]. Dividend and Institutional Holdings - Since its A-share listing, Bohai Ferry has distributed a total of 1.934 billion yuan in dividends, with 737 million yuan distributed over the past three years [3]. - As of June 30, 2025, several new institutional shareholders entered the top ten circulating shareholders, including Invesco Great Wall CSI Dividend Low Volatility 100 ETF, holding 6.2048 million shares, and others, indicating a shift in institutional interest [3].

Core Viewpoint - Bohai Ferry (603167.SH) announced the liquidation of five wholly-owned subsidiaries, all of which were profitable in the first half of the year, with net profits ranging from 121,000 to 416,200 yuan [1][2]. Group 1: Company Actions - The five subsidiaries being liquidated are Yantai Haiqiangxing Operating Service Co., Ltd., Yantai Haiqiangma Operating Service Co., Ltd., Yantai Haiqiangzhuan Operating Service Co., Ltd., Yantai Haiqiangcui Operating Service Co., Ltd., and Yantai Haiqiangjing Operating Service Co., Ltd. [1] - The decision to liquidate these subsidiaries is influenced by policy adjustments in the Yantai Free Trade Zone, which is cleaning up companies without import and export rights [3]. - The company aims to simplify business processes, optimize asset structure, reduce management levels, and enhance operational efficiency through this liquidation [3]. Group 2: Financial Performance - As of June 30, 2023, the financial details of the subsidiaries are as follows: - Yantai Haiqiangxing: Total assets of 1.5689 million yuan, net assets of 1.5261 million yuan, and a net profit of 171,800 yuan [2]. - Yantai Haiqiangma: Total assets of 2.8220 million yuan, net assets of 2.7315 million yuan, and a net profit of 416,200 yuan [2]. - Yantai Haiqiangzhuan: Total assets of 3.1364 million yuan, net assets of 3.0145 million yuan, and a net profit of 333,600 yuan [2]. - Yantai Haiqiangcui: Total assets of 2.0795 million yuan, net assets of 2.0338 million yuan, and a net profit of 158,800 yuan [2]. - Yantai Haiqiangjing: Total assets of 2.0716 million yuan, net assets of 2.0295 million yuan, and a net profit of 121,000 yuan [2]. Group 3: Business Overview - Bohai Ferry's main business includes roll-on/roll-off transportation, financial leasing, cruise services, and marine fuel sales [3]. - To better meet the transportation needs of electric vehicle consumers, the company launched two roll-on/roll-off ships, "Green An Tong" and "Green An Da," in late May and late June 2023, specifically designed for electric vehicle transport [3].

Core Viewpoint - The company reported a stable operational performance in 2024 despite facing various challenges, with a slight decrease in revenue but an increase in net profit, indicating effective cost management and strategic resilience [1][13][19]. Group 1: Company Operational Performance - The total revenue for 2024 was 1.82 billion yuan, a decrease of 1.12% compared to the previous year [13]. - The total profit reached 440 million yuan, representing a year-on-year growth of 8% [1][13]. - The net profit attributable to shareholders was 274 million yuan, an increase of 9.54% year-on-year [1][13]. Group 2: Board of Directors' Activities - The Board of Directors held 8 meetings in 2024, reviewing 40 proposals [1][3]. - The Board emphasized the importance of corporate governance and compliance with regulations to ensure sustainable development [1][3]. Group 3: Financial Indicators - The company's total assets at the end of 2024 were approximately 4.46 billion yuan, a slight decrease of 0.22% from the previous year [14][18]. - The asset-liability ratio increased to 14.85%, up from 11.60% at the end of the previous year, indicating a rise in financial leverage [14][18]. - Earnings per share rose to 0.58 yuan, a 9.43% increase from the previous year [14][18]. Group 4: Investor Relations and Governance - The company maintained active communication with investors through various channels, ensuring transparency and engagement [4][6]. - The Board plans to enhance investor relations management and protect the rights of minority shareholders [4][6]. Group 5: Future Outlook - The company anticipates challenges in the market but remains optimistic about leveraging opportunities for growth in 2025, focusing on strategic initiatives and operational efficiency [19][20].