本文字数：1178，阅读时长大约2分钟 作者 | 第一财经 冯迪凡 封图 | AI生成 当地时间10日，美国贸易代表办公室（USTR）宣布对其于2025年4月17日采取的恢复美国造船业的响应措施的某些 方面进行修改，并就该措施的几项拟议的进一步修改征求公众意见。 2025.10. 11 他对记者表示，按照USTR的设想，未来受影响的包括起重机和车架等，此前USTR还曾经考虑对集装箱征收关税， 目前看来放弃了。 4月17日，美国贸易代表办公室宣布对中国海事、物流和造船领域301调查的最终措施。对此，商务部新闻发言人彼时 表示，一年多来，中方针对美方301调查反复申明立场，并提供中方立场非文件，要求美方以客观事实为依据，纠正 错误做法，停止将自身产业发展面临的问题归咎于中国。在美方不久前举行的听证会上，绝大部分各国行业代表对美 方措施表示反对，美国内对此也有很大反对声音。但美方还是一意孤行，执意发布相关限制措施。中方对此强烈不 满、坚决反对。 商务部新闻发言人表示，美方措施充分暴露出其单边主义、保护主义政策本质，是典型的非市场做法，具有明显的歧 视性色彩，严重损害中国企业正当权益，严重扰乱全球产供链稳定，严重违反 ...

截至发稿，中集集团市值为452亿元。 每经头条（nbdtoutiao）——与美元脱钩后，暴涨102倍，揭秘黄金疯涨背后神秘的"无形之手"！专家： 推动金价上涨的逻辑没有变 每经AI快讯，中集集团（SZ 000039，收盘价：8.38元）10月9日晚间发布公告称，2025年10月9日，公 司通过集中竞价交易方式首次回购公司A股股份约241万股，占公司截至本公告日总股本的比例为 0.0447%，购买的最高价为人民币8.37元/股，最低价为人民币8.25元/股，已使用的资金总额为人民币约 2000万元。 2025年1至6月份，中集集团的营业收入构成为：集装箱占比27.7%，物流服务业务占比17.68%，能源和 化工和液态食品装备占比16.88%，道路运输车辆占比11.15%，海洋工程占比10.44%，其他行业占比 6.87%。 （记者 曾健辉） ...

每经AI快讯，中集集团（SZ 000039，收盘价：8.29元）10月8日晚间发布公告称，中国国际海运集装箱 （集团）股份有限公司于2025年9月29日召开了第十一届董事会2025年度第10次会议，审议通过了《关 于回购部分A股股份方案的议案》。现将公司2025年9月29日前十大无限售条件股东披露如下：香港中 央结算（注3）持约31.41亿股，占比58.25%；深圳市立业工业集团有限公司持约2.75亿股，占比5.1%； 深圳市资本运营集团有限公司持约2.5亿股，占比4.64%；中国人寿保险股份有限公司－传统－普通保险 产品－005L－CT001沪持约4740万股，占比0.88%；苗艳芬持约4512万股，占比0.84%；中信保诚人寿 保险有限公司－分红账户持约2960万股，占比0.55%；付璇持约2814万股，占比0.52%；中国农业银行 股份有限公司－中证500交易型开放式指数证券投资基金持约2678万股，占比0.5%；上海伊洛私募基金 管理有限公司－君行风和1号私募基金持约1766万股，占比0.33%；上海伊洛私募基金管理有限公持约 1433万股，占比0.27%。前十大流通股东合计持股约38.75亿股，占比 ...

Core Viewpoint - The company, through its wholly-owned subsidiary SG XINDE INVESTMENT (HK) LIMITED, plans to acquire a 40% stake in the target company, CIMC Xinde Leasing (Shenzhen) Co., Ltd., for approximately RMB 482 million, aiming to enhance its operational capabilities and market influence in the shipping industry [1][2]. Group 1: Acquisition Details - The acquisition involves a purchase price of approximately RMB 482 million for a 40% stake in the target company [1]. - The target company is primarily engaged in container, vessel, and general leasing services, as well as investment activities using its own funds [1][2]. - Upon completion of the acquisition, the ownership structure will be 40% for the company, 20% for the seller, and 40% for CIMC Group [1]. Group 2: Strategic Objectives - The acquisition aims to integrate shipping operations, management, investment, and financing to establish a circular ecosystem across the maritime value chain [2]. - The company expects to leverage resources from CIMC Group and the seller to enhance market influence and achieve operational synergies [2]. - The acquisition will extend the maritime industry chain, creating a one-stop maritime service platform covering the entire lifecycle of ship design, construction, financing, management, and operation [2]. Group 3: Financial Implications - The company will provide guarantees to ensure the target company can secure operational funding, which is crucial for its main business activities [2]. - A guarantee agreement will be established by October 2025, covering a loan amount of USD 40.44 million along with associated interests, costs, and expenses [1].

因此，于2025年10月，该行与本公司将订立担保协议，本公司将同意就目标公司于贷款协议项下的责任 向该行提供有关本金额为4044万美元，以及其他利息、成本及费用的担保。 本公司管理层认为，提供担保可使目标公司获得营运资金，并为其主要业务(集装箱、船舶及一般租赁 服务以及利用自有资金进行投资活动)拨资，确保目标公司持续稳定增长。因此，提供担保对目标公司 的持续经营至关重要，而本集团将间接拥有目标公司的40%权益。 经考虑收购事项的理由及本集团所得裨益，以及目标公司于收购事项后持续经营其主营业务;本集团就 担保面临的风险与本集团于目标公司的间接权益成比例;及中集集团与卖方的财务实力及以类似条款并 按彼等各自于目标公司的间接权益比例履行彼等于各自担保项下责任的能力，董事认为，收购事项及提 供担保的条款乃按一般商业条款订立，属公平合理，并符合本公司及其股东的整体利益。 透过收购目标公司的股权(主要从事集装箱、船舶及一般租赁服务以及利用自有资金进行投资活动)，本 集团旨在整合船舶营运、管理、投资及融资业务，以建立跨海运价值链的循环生态系统。凭藉中集集团 及卖方作为目标公司股东的资源，本集团预期将扩大其市场影响力及实现营 ...

Core Viewpoint - CIMC announced a share buyback plan with a total amount between 300 million and 500 million yuan, with a maximum buyback price of 12.01 yuan per share, which is 49.19% higher than the current price of 8.05 yuan [1] Group 1: Company Overview - CIMC is headquartered in Shenzhen, Guangdong, and was established on January 14, 1980, with its shares listed on April 8, 1994 [1] - The company's main business includes manufacturing and repairing containers, with revenue composition as follows: container manufacturing 28.57%, logistics services 17.85%, energy, chemical and liquid food equipment 17.10%, road transport vehicles 12.82%, marine engineering 10.53%, and others 13.13% [1] Group 2: Financial Performance - As of June 30, the company had 133,200 shareholders, an increase of 11.42% from the previous period, with an average of 17,283 circulating shares per shareholder, a decrease of 10.25% [2] - For the first half of 2025, CIMC reported operating revenue of 76.09 billion yuan, a year-on-year decrease of 3.82%, while net profit attributable to shareholders increased by 47.63% to 1.278 billion yuan [2] Group 3: Shareholder and Dividend Information - CIMC has distributed a total of 18.638 billion yuan in dividends since its A-share listing, with 2.033 billion yuan distributed over the past three years [3] - As of June 30, 2025, the Southern CSI 500 ETF was the ninth largest circulating shareholder, holding 27.3366 million shares, an increase of 3.6698 million shares from the previous period [3]

Group 1 - The core point of the article is that 中集集团 (China International Marine Containers Group) announced a share buyback plan during its board meeting held on September 29, 2025, and provided a breakdown of its revenue composition for the first half of 2025 [1] - 中集集团's revenue composition for the first half of 2025 is as follows: containers accounted for 27.7%, logistics services for 17.68%, energy and chemical equipment and liquid food equipment for 16.88%, road transport vehicles for 11.15%, marine engineering for 10.44%, and other industries for 6.87% [1] - As of the report, 中集集团's market capitalization stands at 43.4 billion yuan [1] Group 2 - The article also mentions a competitive situation in the beverage industry, where 农夫 (Nongfu Spring) has launched a new green bottle product, leading to a significant decline in market share for 怡宝 (Yibao), which dropped nearly 5 percentage points [1] - The competitive dynamics suggest that while 农夫 is gaining market share, the overall impact is felt more broadly in the industry, particularly affecting 怡宝's performance [1]

文 ： 华创证券研究所副所长 、首席宏观分析师 张瑜（执业证号：S0360518090001） 联系人： 陆银波（15210860866） 报告摘要 （一）景气向上： 1 、华创宏观 WEI 指数： 截至 9 月 21 日，该指数为 8.78% ，较前一周上行 1.23 个点。 增速回升的分 项主要是基建（沥青开工率）、耐用品消费（乘用车批零）。 2 、基建：高频数据回升 。 石油沥青装置开工率和水泥发运率均回升，两者好于去年同期。截至 9 月 24 日当周，石油沥青装置开工率为 40.1% ，同比 +11.1% ，环比前一周 +5.7% 。截至 9 月 19 日当周，水 泥发运率为 40.3% ，环比上周 +0.4% ，去年同期为 34.7% 。 3 、出口：港口集装箱吞吐量维持高位 ， 四周累计同比边际有所回落 。 9 月 21 日当周，我国监测港口集 装箱吞吐量环比 +0.2% ，上周为 +0.1% ；四周累计同比 10.4% ，上周为 10.9% 。 4 、价格：金、油价格上涨 。 COMEX 黄金收于 3734.2 美金 / 盎司，上涨 1.3% ； LME 三个月铜价收于 10190 美元 / 吨 ...

在长江岸线首个堆场自动化集装箱码头太仓港四期持续焕新投用后，近日太仓港三期又将启动零碳 港口建设。 相隔近百公里的张家港港，同样在智慧化、绿色化的道路上全力奔跑。不过，它与太仓港的"主 业"不同：太仓港作业目标主打标准化的集装箱，而张家港港则拥有长江流域专业的干散货码头，作业 目标是煤炭、矿石等形态各异的散货。 相比于集装箱，干散货码头实现智慧化的难度更大。因其货种特性差异大、作业流程灵活，每一步 升级都是挑战。作为华东地区贸易煤炭集散基地、长江进口矿石中转基地，张家港港每年散货吞吐量近 5000万吨，作业量庞大、作业场景复杂，如何高效转运这些货物？答案藏在江边的"智能流水线"里。 工作人员指向江边一排高耸的门机解释道："操作人员在散货全流程智能操作中心远程操控门机， 将矿石抓取至封闭的皮带机流程上，便可直达堆场。"这条皮带机流程线犹如港口的"动脉"，沿线布设 了巡检机器人和骨传导声音监测装置，通过AI算法实时监控皮带机运行状态，实现"无人巡检"。 煤炭是张家港港的另一大货类。依托自动化门座起重机、斗轮堆取料机、装船机等设备，这里的煤 炭"水水中转"比例超过85%——即煤炭在不上场的情况下，直接从大船分装至内 ...

Report Information - Report Date: September 27, 2025 [1] - Report Title: High - frequency Economic Weekly (2025.9.21 - 2025.9.27) [3] - Analysts: Huang Weiping, Luan Qiang [1] - Research Support: Wang Zheyi [1] Industry Investment Rating No industry investment rating information is provided in the report. Core View The report shows that personnel flow has declined while demand has improved month - on - month. Industrial production is generally stable, personnel and freight flows have changed, consumption shows a mixed picture, investment in construction and the real - estate market has improved, exports have seen some fluctuations, and there have been some important policies and events during the period [3]. Summary by Directory 1. Big - class Assets - This week, bond indices generally declined. The China Bond 7 - 10 - year China Development Bank Bond Index fell the most, with a weekly decline of 0.19%. - Most stock indices rose. The Science and Technology Innovation 50 Index rose the most, with a weekly increase of 6.47%. - Commodities showed mixed performance. The Nanhua Precious Metals Index rose the most, with a gain of 4.48%, while the Nanhua Black Index fell the most, with a decline of 1.95%. - Most foreign currencies depreciated against the RMB. The Japanese yen had the largest decline, with a weekly decline of 0.95%, and the US dollar appreciated against the RMB, with a weekly increase of 0.31% [3] 2. Industrial Production - Production is marginally stable. From the upstream, the weekly coal consumption in the national power plant sample area decreased by 1.27% month - on - month, the weekly operating rate of petroleum asphalt plants increased by 5.70 pcts to 40.10%, the weekly blast furnace operating rate increased by 0.47 pcts to 84.47%, and the weekly crude steel output decreased by 0.67%. - In the real - estate chain, the weekly operating rate of rebar decreased by 2.31 pcts to 40.65%, the operating rate of float glass remained flat at 76.31% compared with last week, and the mill operation rate remained flat at 38.55% compared with last week. - In the consumer goods chain, the operating rate of polyester filament remained flat at 91.54% compared with last week, the PTA operating rate decreased by 0.81 pcts to 76.48%, and the methanol operating rate increased by 0.12 pcts to 79.51%. - In the automotive chain, the operating rate of automobile semi - steel tires decreased by 0.08 pcts to 73.58%, and the operating rate of automobile all - steel tires increased by 0.06 pcts to 65.72% [3] 3. People and Goods Flow - Personnel flow has significantly declined. The 7 - day moving average (7DMA) of the national migration scale index decreased by 7.21% week - on - week. The 7DMA of domestic flight operations decreased by 2.93% week - on - week, and the 7DMA of international flight operations decreased by 1.01% week - on - week. The passenger volume in Beijing and Shanghai increased, while the subway passenger volume in Guangzhou and Shenzhen decreased. - Freight prices decreased slightly. The 4 - week moving average (4WMA) of the road logistics freight rate index decreased by 0.04% week - on - week, and the total volume was higher than the same period in previous years [3] 4. Consumption - Automobile wholesale and retail sales increased year - on - year. In the previous period, the year - on - year growth rates of passenger car market wholesale and retail sales were 6.00% and 9.00% respectively, and both the 4WMA of the wholesale year - on - year growth rate and the 4WMA of the retail year - on - year growth rate increased. - The film box office and the number of moviegoers decreased. The weekly film box office decreased by 55% week - on - week, and the 7DMA of the number of moviegoers decreased by 55% week - on - week. - Agricultural product prices showed a mixed performance. The weekly price of pork decreased by 0.31%, while the weekly price of vegetables increased by 4.23% [3] 5. Investment - Construction showed good performance. The weekly cement inventory - to - capacity ratio increased by 0.4 pcts, the weekly cement price index increased by 2.97%, and the weekly cement shipment rate increased by 0.4 pcts. The rebar inventory decreased by 2.8% week - on - week, the proportion of profitable steel mills nationwide decreased by 0.9 pcts week - on - week, and the apparent demand for rebar increased by 5.0% week - on - week. - The real - estate market improved. The 7DMA of the commercial housing transaction area in 30 large and medium - sized cities increased by 21.2% week - on - week. The transaction areas of first - tier, second - tier, and third - tier cities all increased. The 7DMA of the second - hand housing transaction area in 16 cities increased by 1.6% week - on - week, and the national second - hand housing listing price index decreased by 0.1% week - on - week. The land transaction area in 100 cities increased, and the land transaction premium rate decreased week - on - week [3] 6. Exports - Port throughput increased slightly. The weekly port cargo throughput increased by 0.1%, and the weekly container throughput increased by 0.2%. - Most shipping indices declined. The BDI index increased by 2.54% week - on - week, while the SCFI index and the CCFI index decreased by 6.98% and 2.93% respectively week - on - week [3] 7. Important Policies/Events - On September 22, the LPR quotation remained unchanged. - On September 22, the State Council Information Office held a press conference to introduce the development of the financial industry during the 14th Five - Year Plan period, without involving short - term policy adjustments. - On September 24, the central bank announced an operation of 600 billion MLF on September 25. - On September 26, the central bank's third - quarter monetary policy meeting continued to emphasize a "moderately loose" monetary policy [3]