已履行的审议程序：中远海运特种运输股份有限公司（以下简称"中 远海特"或"公司"）于 2025 年 9 月 25 日召开第九届董事会第一 次会议，审议通过了《关于延长使用闲置募集资金进行现金管理期 限的议案》。本事项无需提交股东大会审议。 投资种类：安全性高、流动性好的保本型产品，包括但不限于结构 性存款、协定存款、通知存款、定期存款、大额存单、收益凭证等。 现金管理额度：不超过人民币 30 亿元（含本数）。 风险提示：尽管公司选择的投资产品属于低风险投资品种，总体风 险可控，但金融市场受宏观经济的影响较大，不排除该项投资受到 市场波动的影响。 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）《关于 同意中远海运特种运输股份有限公司向特定对象发行股票注册的批复》 （证监许可〔2024〕1872 号）同意注册，并经上海证券交易所同意， 公司向特定对象发行人民币普通股（A 股）597,269,624 股，每股面值 人 民 币 1.00 元 ， 发 行 价 格 为 每 股 5.86 元 ， 募 集 资 金 总 额 为 3,499,999,996.64 元，扣除发行费用 23,066,197. ...

| | | | | | | | | 是否继续 在上市公 | | 是否存 在未履 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | | 离任时间 | | 原定任期到期日 | | 离任原因 | 司及其控 | 具体 | 行完毕 | | | | | | | | | | | 职务 | | | | | | | | | | | 股子公司 | | 的公开 | | | | | | | | | | 任职 | | 承诺 | | 顾卫东 | 副总经理 | 2025 | 年 9 月 | 25 日 | 2025 年 9 月 | 25 日 | 工作调动 | 否 | 不适用 | 否 | 二、离任对公司的影响 顾卫东先生的离任事宜不会影响公司正常经营发展。顾卫东先生 已确认与公司及公司董事会无任何意见分歧，亦无其他与本人离任相 关的事宜需要通知公司股东，并已按公司规定妥善做好交接工作。公 司董事会对顾卫东先生在担任副总经理期间所做的工作表示衷心感谢。 证券代码：600428 证券简称：中远海特 公告编号：2025-048 中远 ...

证券代码：600428 证券简称：中远海特 公告编号：2025-045 中远海运特种运输股份有限公司 2025年第一次临时股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 9 月 25 日 (二)股东会召开的地点：广东省广州市天河区珠江新城花城大道 20 号广州远洋 大厦 20 楼公司会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 二、 议案审议情况 (一)非累积投票议案 1. 议案名称：关于全资子公司光租 4 艘 9000 吨特种液货船暨关联交易的议案 | 1.出席会议的股东和代理人人数 | 346 | | --- | --- | | 2.出席会议的股东所持有表决权的股份总数（股） | 1,609,554,923 | | 3.出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 58.6589 | (四)表决方式是否符合《公司法》及《公司章程》 ...

中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮编：100025 34/F, Tower 3, China Central Place, 77 Jianguo Road, Beijing 100025, China T: (86-10) 5809 1000 F: (86-10) 5809 1100 北京市竞天公诚律师事务所 关于中远海运特种运输股份有限公司 2025 年第一次临时股东大会的法律意见书 致：中远海运特种运输股份有限公司 北京市竞天公诚律师事务所（以下简称"本所"）接受中远海运特种运输股份有限 公司（以下简称"公司"）的委托，指派本所律师列席公司于 2025 年 9 月 25 日在广东省 广州市天河区珠江新城花城大道 20 号广州远洋大厦 20 楼公司会议室召开的 2025 年第 一次临时股东大会（以下简称"本次股东大会"），并根据《中华人民共和国公司法》 （以下简称"《公司法》"）等法律、法规、规章、规范性文件（以下称"法律法规"） 及《中远海运特种运输股份有限公司章程》（以下简称"《公司章程》"）的规定，就 本次股东大会的召集和召开程序、出席会议人员资格、召集人资格、会议表 ...

证券代码：600428 证券简称：中远海特 公告编号：2025-046 中远海运特种运输股份有限公司 第九届董事会第一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 中远海运特种运输股份有限公司（以下简称"公司"）第九届董 事会第一次会议于2025年9月19日发出通知，会议于2025年9月25日 在广州以现场结合视频方式召开，应到董事9人，现场参会9人，其 中马向辉董事、李满董事、王威董事、钟玉滨董事、郑明辉独立董 事、叶政独立董事、李丹独立董事视频连线参会。本次会议召开程 序符合有关法律法规、规章制度和《公司章程》的规定，会议合法、 有效。会议由张炜董事长主持，公司部分高管列席。 二、董事会会议审议情况 （一）审议通过关于选举公司第九届董事会董事长的议案 持有公司 41.01%股份的控股股东中国远洋运输有限公司书面 推荐张炜先生为公司第九届董事会董事长候选人。根据《公司章程》 规定，董事长当选人为公司法定代表人。 同意票 9 票，反对票 0 票，弃权票 0 票，全票通过。 1 中远海特 ...

Core Viewpoint - The announcement indicates that Gu Weidong, the Vice General Manager of COSCO Shipping Specialized Carriers, has submitted his resignation due to work relocation, effective from September 25, 2025, with no disagreements with the company or board [1] Group 1 - Gu Weidong's resignation was formally submitted on September 25, 2025 [1] - The resignation is effective upon delivery to the company's board of directors [1] - There are no disagreements between Gu Weidong and the company or board, and all handover work has been completed [1]

Summary of Zhongyuan Shipping Conference Call Company Overview - Zhongyuan Shipping is a leading enterprise in the global special ship transportation sector, operating a fleet of 151 vessels with a total deadweight tonnage of 6.146 million tons. The company maintains a leading position in semi-submersible and heavy-lift vessels, ranks second globally in pulp carrier operations, and is rapidly developing its car carrier business [2][3] Financial Performance - The company's profitability has significantly improved, with a projected net profit of 1.53 billion yuan for 2024, representing a 44% year-on-year increase, surpassing the historical peak of 1.45 billion yuan in 2008. For the first half of 2025, the net profit is expected to reach 820 million yuan, a 13% increase year-on-year [2][5] - Forecasted net profits for 2025 to 2027 are 1.87 billion yuan, 2.14 billion yuan, and 2.34 billion yuan, respectively, with a target market capitalization of 24.2 billion yuan, indicating approximately 29% growth potential [4][16] Business Segmentation and Margins - In the first half of 2025, the highest gross profit margin came from the car carrier business at 30%, while multi-purpose vessels, heavy-lift vessels, and semi-submersible vessels contributed margins between 15% and 17%. The pulp logistics segment is a key growth area, with a compound annual growth rate (CAGR) of 70% in revenue and 58% in gross profit from 2020 to 2024 [2][6] Shareholder Returns - The company has established a shareholder return plan for 2023 to 2025, committing to distribute at least 30% of cumulative profits in cash. The actual dividend payout ratio for 2023 and 2024 is approximately 50%, exceeding the commitment [2][7] Market Demand Drivers - Demand in the special transportation market is benefiting from energy transition and the advantages of Chinese manufacturing going global. Key transported goods include pulp, wind power equipment, and automobiles, with increasing demand for multi-purpose and semi-submersible transportation due to the rapid development of offshore wind power [2][8] Competitive Landscape - The semi-submersible market is highly concentrated, with the top five players holding 72% of the market share. Zhongyuan Shipping ranks second in this sector, with a competitive advantage due to a younger average fleet age compared to industry peers [9] Automotive Export Market Outlook - Since 2020, China's automotive export competitiveness has strengthened, with projected growth rates of 7% and 3% for exports in 2025 and 2026, respectively. Domestic automotive transport companies hold a low market share of about 4%, presenting opportunities for growth through strategic partnerships and expansions [10] Pulp Carrier Business Development - China is a major consumer of pulp, with stable import demand. Zhongyuan Shipping ranks second globally in pulp carrier capacity and aims to achieve the top position by the end of the year. The company has secured contracts with major pulp companies, supporting its rapid growth and profitability [12] Impact of Belt and Road Initiative - The Belt and Road Initiative is driving demand for multi-purpose and heavy-lift vessels due to increased overseas engineering contracts and machinery exports from China [13] Global Shipping Market Supply Dynamics - Since 2020, the global shipping market has seen rising demand, but stricter environmental regulations and aging fleets are limiting supply growth. Zhongyuan Shipping has a diverse order book, mitigating potential supply shocks [14] Special Ship Market Characteristics - The special ship market is relatively small and exhibits less cyclical volatility, providing stability in supply-demand relationships. The company is enhancing its resilience by extending its business into engineering project cargo [15] Risks and Challenges - Key risks include macroeconomic fluctuations, geopolitical tensions, and potential underperformance in wind power, automotive, and machinery exports, which could adversely affect the company's performance [17]

Market Performance - The shipping and port sector increased by 0.67% on September 24, with Nanjing Port leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Individual Stock Performance - Nanjing Port (002040) saw a significant rise of 10.01%, closing at 11.98 with a trading volume of 437,200 shares and a turnover of 506 million yuan [1] - Other notable performers included: - China Merchants Heavy Industry (601872) up 2.87% to 8.96 with a turnover of 934 million yuan [1] - HNA Technology (600751) up 1.94% to 4.74 with a turnover of 238 million yuan [1] - COSCO Shipping Energy (600026) up 1.49% to 12.27 with a turnover of 654 million yuan [1] Declining Stocks - Ningbo Port (601018) decreased by 2.36% to 3.73 with a trading volume of 2,439,400 shares and a turnover of 909 million yuan [2] - Other declining stocks included: - Ningbo Ocean Shipping (601022) down 2.24% to 10.91 [2] - COSCO Shipping Specialized (600428) down 1.05% to 6.62 [2] Capital Flow Analysis - The shipping and port sector experienced a net outflow of 187 million yuan from main funds, while retail investors saw a net inflow of 105 million yuan [2] - Notable capital flows included: - China Merchants Heavy Industry (601872) had a main fund net inflow of 11.3 million yuan [3] - Nanjing Port (002040) saw a main fund net inflow of 31.56 million yuan [3] - COSCO Shipping Energy (600026) had a main fund net inflow of 39.95 million yuan [3]

Group 1 - Nanjing Port reached the daily limit increase, indicating strong market performance [1] - Ningbo Maritime increased by over 9%, reflecting positive investor sentiment [1] - Ningbo Port and Ningbo Ocean both rose by over 5%, contributing to the overall growth in the sector [1] - Lianyungang, COSCO Shipping Special, and Qingdao Port also experienced significant gains, showcasing a broad rally in the port and shipping industry [1]

Investment Rating - The report maintains a "Positive" investment rating for the transportation industry [13] Core Insights - The transportation industry is expected to see improvements in profitability across various sub-sectors in Q3 2025, driven by domestic demand recovery and resilient international demand [2][6][7][8][9][10][11][12] Summary by Sub-Sector Aviation - The aviation sector is experiencing subdued demand but is benefiting from reduced costs, leading to an overall improvement in profitability for Q3 2025. The international flight recovery remains strong, and oil prices have significantly decreased [6][19][24] Airports - Domestic airport traffic is recovering, with international flights also increasing. Revenue is expected to improve steadily, with key airports benefiting from both domestic and international demand growth [2][6][24][26] Express Delivery - The "anti-involution" policy is driving price increases in the express delivery sector, leading to improved profitability for e-commerce deliveries. However, operational costs are temporarily pressuring profit margins [2][6][28][30] Logistics - The logistics sector is stabilizing, with major players expected to see profit growth due to improved supply chain performance and resilient cross-border logistics profitability [2][6][7][31] Maritime Transport - The maritime sector is witnessing a divergence in profitability among different shipping types. While container shipping faces challenges, oil tanker profits are improving due to favorable market conditions [2][6][8][33][37] Ports - Port operations are expected to see improved profitability in bulk cargo handling, while container throughput remains resilient despite external pressures [2][6][9][39] Highways - Highway traffic is relatively stable, with a slight increase in profitability anticipated for Q3 2025, supported by steady freight and passenger traffic [2][10][41] Railways - Railway passenger and freight volumes are showing mixed trends, with a focus on opportunities arising from high-speed rail transformations. Overall, passenger transport is expected to grow, while freight transport is improving [2][11][43][44]