证券代码：601919 证券简称：中远海控 公告编号：2024-018 中远海运控股股份有限公司 关于召开 2023 年年度股东大会暨 2024 年第一次 A 股类别 股东大会及 2024 年第一次 H 股类别股东大会的通知 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： 一、 召开会议的基本情况 召开的日期时间：2024 年 5 月 29 日 10 点 00 分 股东大会召开日期：2024年5月29日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 召开地点：上海市东大名路 1171 号上海远洋宾馆 5 楼远洋厅、香港皇后大 道中 183 号中远大厦 47 楼会议室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 5 月 29 日 至 2024 年 5 ...

FF301 呈交日期: 2024年5月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 01919 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,354,780,000 | RMB | | 1 RMB | | 3,354,780,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 3,354,780,000 | RMB | | 1 RMB | | 3,354,780,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 601919 ...

2024 年 05 月 01 日 公司研究 评级：增持 (维持 ) 研究所： [Table_Title] 红海事件利润初步兑现，淡季涨价或将增厚分红 证券分析师： 祝玉波 S0350523120005 zhouyb01@ghzq.com.cn 联系人 ： 张付哲 S0350123060017 ——中远海控（ ） 年一季报点评 601919 2024 zhangfz@ghzq.com.cn 最近一年走势 事件 : 2024年4月30日，中远海控发布2024年一季报：公司2024年第一季 度营业收入482.69亿元人民币，同比增加1.9%；归属于母公司净利润 67.55亿元人民币，同比减少5.2%；归属于母公司扣非净利润67.24亿 元人民币，同比减少5.2%；集装箱航运业务货运量为602.7万标准箱， 同比增加10.5%。 投资要点 : 相对沪深300表现 2024/04/30  红海事件提振运价，公司业绩初步兑现 去年底以来的红海绕行 表现 1M 3M 12M 大幅改善了集运市场基本面，大幅提振了集运运价。根据克拉克森 中远海控 13.7% 17.5% 27.6% 数据，2024Q1中国出口集装箱运价综合指 ...

Investment Rating - Buy rating maintained for COSCO Shipping Holdings (601919 SH) [1][4] Core Views - Q1 2024 results show significant sequential growth, with Q2 expected to see further elasticity release [1] - COSCO Shipping Holdings achieved Q1 2024 revenue of RMB 48 27 billion, up 1 94% YoY and 18 05% QoQ Net profit attributable to shareholders was RMB 6 755 billion, down 5 23% YoY but up 277 59% QoQ [1][5] - Freight volume remained stable in Q1, with international route revenue per TEU at USD 1,172 06, down USD 99 45 YoY, likely due to long-term contract execution during the Red Sea crisis [1][7] - Red Sea tensions and potential restocking in Europe and the US could reverse industry supply-demand dynamics, potentially boosting annual freight rates [1][10] Financial Performance - Q1 2024 freight volume reached 6 0273 million TEU, up 10 53% YoY, with growth across most routes except Asia-Europe due to Red Sea disruptions [1][7] - CCFI and SCFI indices showed significant YoY growth in Q1 2024, at 18 76% and 107 45% respectively, despite COSCO's underperformance in international route revenue per TEU [1][7] - 2024-2026 net profit forecasts are RMB 29 1 billion, RMB 29 58 billion, and RMB 30 73 billion respectively, with PE ratios of 6 2X, 6 1X, and 5 9X [1][12] Industry Outlook - Red Sea tensions since November 2023 have tightened supply, with potential for a 9% increase in demand if the situation persists, as 30% of global capacity is deployed on Europe routes [1][10] - European and US consumer goods inventories are at low levels, with potential restocking expected to further drive freight rate increases [1][10] Financial Projections - 2024E revenue forecast at RMB 194 747 billion, up 11% YoY, with net profit expected to grow 22% YoY to RMB 29 099 billion [2] - ROE projected at 13 9% for 2024E, with EBIT margin expected to improve to 19 5% [2] - EPS forecast for 2024E is RMB 1 82, with a dividend yield of 8 8% [2][12]

2024年第一季度报告 证券代码：601919 证券简称：中远海控 中远海运控股股份有限公司 2024 年第一季度报告 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司董事长万敏、执行董事及总经理杨志坚、总会计师郑琦及会计机构负责人徐宏伟声明保证 季度报告中财务信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 ...

FF301 致：香港交易及結算所有限公司 公司名稱: 中遠海運控股股份有限公司 呈交日期: 2024年4月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 01919 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,354,780,000 | RMB | | 1 RMB | | 3,354,780,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 3,354,780,000 | RMB | | 1 RMB | | 3,354,780,000 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年3月31日 狀態: 新提交 | 2. 股份分類 | 普通股 | 股份類別 | A | ...

证券代码：601919 证券简称：中远海控 公告编号：2024-012 中远海运控股股份有限公司 股票期权激励计划2024年第一季度自主行权结果 暨股份变动公告 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： 1、本次行权股票数量：2024年第一季度，公司股票期权激励计 划激励对象行权且完成股份过户登记的行权股票数量合计为62,065 股。 2、本次行权股票上市流通时间：采用自主行权模式，激励对象 行权所得股票于行权日（T日）后的第二个交易日（T+2）日上市交 易。 2024 年第一季度，中远海运控股股份有限公司（以下简称 "公司"）股票期权激励计划激励对象行权且完成股份过户登 记的行权股票数量合计为 62,065 股。具体说明如下： 一、股票期权激励计划已履行的决策程序及相关信息披露 2022年6月10日，经公司董事会、监事会分别审议通过，同意根 据公司2021年度利润分配方案，相应调整股票期权激励计划行权价 格，首次授予期权行权价格从3.15元/股调整为2.28元/股，预留授 予期权行权价格从2.69元/股 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - In 2023, the company reported a revenue of 175.44 billion RMB, a year-on-year decrease of 55.14%, and a net profit attributable to shareholders of 23.86 billion RMB, down 78.25% year-on-year [1][2] - The decline in revenue is attributed to a tightening supply-demand relationship in the global container shipping market, with the CCFI index averaging a 66.4% decrease year-on-year [2] - The company's container shipping volume was 23.55 million TEU, a decrease of 3.5% year-on-year, with foreign trade route volume also down 3.5% [2] - The estimated revenue per container for foreign trade routes was 1,055.3 USD/TEU, a significant drop of 60% year-on-year [2] - The gross profit margin for 2023 was 16.4%, down 27.91 percentage points year-on-year, primarily due to a sharp decline in foreign trade prices [2] - The company plans to distribute a total dividend of 11.87 billion RMB for 2023, representing 50% of its net profit [2] Summary by Sections Performance Overview - In Q4 2023, the company achieved a revenue of 40.89 billion RMB, down 45.1% year-on-year, and a net profit of 1.79 billion RMB, down 85.56% year-on-year [1] - The company’s investment income increased by 88.9% to 4.75 billion RMB in 2023 [2] Financial Forecast - The forecast for net profit attributable to shareholders is adjusted to 20.2 billion RMB for 2024, 18.2 billion RMB for 2025, and a new estimate of 15.7 billion RMB for 2026 [2]

Investment Rating - The investment rating for COSCO SHIPPING Holdings (601919.SH) is "Buy" [1][3][13]. Core Views - COSCO SHIPPING Holdings has demonstrated a strong commitment to returning value to shareholders through significant dividends and share buybacks, with a total cash dividend of approximately RMB 118.66 billion for 2023, representing about 50% of the net profit attributable to shareholders [1][6]. - The company reported a revenue of RMB 1754.5 billion in 2023, a decrease of 55.1% year-on-year, and a net profit of RMB 237.5 billion, down 78.2% year-on-year. The fourth quarter alone saw a revenue of RMB 408.9 billion, down 45.1% year-on-year, with a net profit of RMB 17.7 billion, down 85.5% [1][6]. - Despite a stable cargo volume of 24.4 million TEU in 2023, the average revenue per container significantly declined, with foreign trade routes averaging only USD 1055.1 per TEU, a drop of approximately 60% compared to 2022 [1][8]. - The report anticipates a marginal improvement in 2024 due to the tightening of supply in the Red Sea region, which could boost demand by approximately 9% across the industry [1][11]. - The Federal Reserve is expected to initiate interest rate cuts in June, which may stimulate consumer activity and set the stage for increased demand during the peak season [1][11]. Summary by Sections Financial Performance - In 2023, COSCO SHIPPING Holdings achieved a revenue of RMB 1754.5 billion, down 55.1% from the previous year, and a net profit of RMB 237.5 billion, down 78.2% [1][4]. - The company plans to distribute a total cash dividend of approximately RMB 118.66 billion for 2023, which is about 50% of the net profit attributable to shareholders [1][6]. - The cargo volume for 2023 was 24.4 million TEU, a decrease of 3.5% year-on-year, with significant declines in average revenue per container [1][8]. Market Outlook - The global economic environment in 2023 was weak, leading to a decline in freight rates. However, the situation in the Red Sea may lead to a recovery in 2024 [1][11]. - The anticipated interest rate cuts by the Federal Reserve could enhance consumer spending and inventory replenishment, potentially benefiting demand in the shipping sector [1][11]. Earnings Forecast - The earnings forecast for 2024 has been revised upward from RMB 276.5 billion to RMB 291.0 billion, while the forecast for 2025 has been adjusted downward from RMB 313.5 billion to RMB 295.8 billion [1][13]. - The projected earnings for 2026 are estimated at RMB 307.3 billion, with corresponding PE ratios of 5.7, 5.6, and 5.4 for 2024, 2025, and 2026 respectively [1][4][13].

Investment Rating - The report maintains a "Buy" rating for the company, suggesting a potential upside of more than 15% relative to the relevant market index [6] Core Views - The company's net profit attributable to the parent company declined significantly in 2023, with a year-on-year decrease of 78.25% to RMB 23.86 billion [1] - The container shipping market entered a downward cycle in 2023, leading to a 56.22% decline in the company's container shipping revenue to RMB 168.126 billion [1] - The company actively engaged in share buybacks and dividend distributions, repurchasing approximately 215 million A-shares and H-shares by the end of February 2024 and proposing a final cash dividend of RMB 0.23 per share for 2023 [2] Financial Performance - The company's revenue in 2023 was RMB 175.448 billion, a year-on-year decrease of 55.14% [1] - Gross margin for 2023 was 16.4%, with a projected increase to 17.7% in 2024E before declining to 6.3% by 2026E [2] - ROE for 2023 was 12.2%, expected to decrease to 3.3% by 2026E [2] Market and Industry Analysis - The global container shipping market faced challenges in 2023 due to high inflation and low growth, leading to a contraction in demand and increased supply from new vessel deliveries [1] - The Red Sea tensions in late 2023 caused a temporary tightening of supply and a rebound in freight rates [1] Shareholder Returns - The company distributed a total of RMB 11.866 billion in cash dividends for 2023, representing approximately 50% of the net profit attributable to shareholders [2] - The proposed final cash dividend of RMB 0.23 per share for 2023, combined with the interim dividend, results in a total dividend payout ratio of 50% [2] Valuation Metrics - The company's PE ratio for 2023 was 6.9x, expected to increase to 22.5x by 2026E [2] - PB ratio remained stable at 0.8x from 2023 to 2025E, with a slight decrease to 0.7x in 2026E [4]