证券日报网讯 1月23日，兴通股份发布公告称，2026年1月23日，公司与中国进出口银行福建省分行 （简称"福建口行"）签订了保证合同，就公司全资子公司兴通海马航运有限公司向福建口行申请的人民 币21，500.00万元整（贰亿壹仟伍佰万元整）固定资产借款提供连带责任担保。 （编辑 任世碧） ...

证券代码：603209 证券简称：兴通股份 公告编号：2026-007 兴通海运股份有限公司 关于为全资子公司提供担保的公告 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： （一） 担保的基本情况 2026 年 1 月 23 日，兴通海运股份有限公司（以下简称"公司"）与中国进 出口银行福建省分行（以下简称"福建口行"）签订了保证合同（合同编号： HETO21900001320251200000002BZ01），就公司全资子公司兴通海马航运有限 公司（以下简称"兴通海马"）向福建口行申请的人民币 21,500.00 万元整（贰 亿壹仟伍佰万元整）固定资产借款提供连带责任担保。 （二） 内部决策程序 公司于 2025 年 3 月 24 日召开了第二届董事会第二十五次会议及第二届监事 会第二十一次会议，2025 年 4 月 14 日召开了 2024 年年度股东大会，审议通过 了《兴通海运股份有限公司关于 2025 年度公司及所属子公司申请综合授信及提 供担保的议案》，同意公司为子公司向银行、融资租赁等机构新增综合授 ...

Group 1 - The core point of the article highlights that Xingtong Co., Ltd. has announced a total external guarantee amount of approximately RMB 2.037 billion, which accounts for 79.98% of the audited net assets as of December 31, 2024 [1] - Among the total guarantees, bank credit guarantees amount to approximately RMB 1.317 billion, representing 51.7% of the net assets, with an increase of approximately RMB 433 million in new credit guarantees since 2025 [1] - The guarantees related to shipbuilding projects total approximately RMB 720 million, which constitutes 28.28% of the net assets [1] Group 2 - Local state-owned assets are beginning to "bottom out" by purchasing auctioned properties, acquiring over 60 units in the Nansha District of Guangzhou at prices around RMB 6,000 to 7,000 per unit, while the average listing price for second-hand homes in the same community exceeds RMB 20,000 [1]

Core Viewpoint - The company, Xingtong Co., Ltd. (603209), is primarily engaged in the maritime transportation of global bulk liquid hazardous goods, with a focus on optimizing its international operations and fleet development [1] Group 1: Business Operations - The company operates foreign trade routes covering regions such as Europe, Northeast Asia, Southeast Asia, the Middle East, the Mediterranean, and South America [1] - The company aims to enhance its global operational capabilities and market competitiveness through strategic planning [1] Group 2: Strategic Planning - The company will continue to follow its "1+2+1" strategic plan to guide its future development [1] - The focus will be on steadily advancing the construction of its international fleet [1]

Core Insights - The report highlights the potential for recovery in the domestic demand for liquid chemical transportation, driven by a rebound in the downstream refining industry, which is expected to improve in the second half of the year [6][8] - The company, Xingtong Co., is positioned as a leader in the coastal liquid chemical transportation sector, with a fleet of 40 vessels, including 34 chemical tankers, and has established a global water transportation network [6][7] - The company has maintained a strong competitive edge through superior safety management, resulting in a significant increase in its domestic market share from 5.3% in 2019 to 16.0% in 2024 [6][7] Company Overview - Xingtong Co. has a modern fleet characterized by high-end, large, young, green, and intelligent vessels, with an average age of less than 8 years for its chemical tankers [7] - The company has been gradually entering international markets while maintaining its domestic advantages, capitalizing on the aging global chemical tanker fleet [7] - The company's profitability metrics, including ROE and ROA, are above industry averages, reflecting effective service quality and cost control [7] Market Outlook - The report anticipates a gradual recovery in the domestic market's economic conditions, with supply-side growth expected to slow down due to a decrease in newly approved shipping capacity [8] - The company is projected to achieve net profits of 285 million, 351 million, and 429 million yuan for the years 2025, 2026, and 2027, respectively, with corresponding EPS of 1.02, 1.25, and 1.53 yuan [8] - The current stock price corresponds to PE ratios of 15.7, 12.7, and 10.4 for the years 2025 to 2027, indicating a favorable investment opportunity [8]

Core Viewpoint - The shipping and port sector experienced a slight decline of 0.07% on January 15, with Xiamen Port leading the drop. The Shanghai Composite Index closed at 4112.6, down 0.33%, while the Shenzhen Component Index rose by 0.41% to 14306.73 [1]. Group 1: Market Performance - The shipping and port sector saw a mixed performance among individual stocks, with notable gainers including: - Xingtong Co., Ltd. (603209) at 15.57, up 2.17% with a trading volume of 81,800 shares and a turnover of 127 million yuan [1]. - COSCO Shipping Energy (600026) at 14.29, up 2.07% with a trading volume of 639,900 shares and a turnover of 92.36 million yuan [1]. - Nanjing Port (002040) at 10.38, up 1.76% with a trading volume of 242,800 shares and a turnover of 253 million yuan [1]. - Conversely, Xiamen Port (000905) led the decline at 12.91, down 4.01% with a trading volume of 383,400 shares and a turnover of 500 million yuan [2]. Group 2: Capital Flow - The shipping and port sector experienced a net outflow of 168 million yuan from institutional investors, while retail investors saw a net inflow of 36.77 million yuan [2]. - Notable capital flows among individual stocks included: - China Merchants Energy (601872) with a net inflow of 69.47 million yuan from institutional investors, but a net outflow of 80.39 million yuan from retail investors [3]. - Nanjing Port (002040) had a net inflow of 26.04 million yuan from institutional investors, but also saw a net outflow of 22.99 million yuan from retail investors [3].

Economic News - The Ministry of Commerce stated that multiple rounds of consultations have been held between China and the EU to address the EU's case against Chinese electric vehicles, agreeing to provide general guidance on price commitments for Chinese exporters [1] - The U.S. has escalated sanctions against Iran, imposing a 25% tariff on any country conducting business with Iran [1] - The National Development and Reform Commission issued guidelines to strengthen government investment fund planning, focusing on supporting emerging industries such as new information technology and new energy [1] - The Ministry of Agriculture aims to increase soybean oil production capacity and self-sufficiency, promoting higher yields in grain and oil crops [1] - The U.S. Federal Reserve chair candidates are being interviewed, with Rick Rieder from BlackRock being a notable candidate [1] - Tianjin's housing authority has mandated that new home prices cannot fluctuate more than 10% from the registered price to prevent rapid price declines [1] - The official confirmation of the J-10CE fighter jet achieving combat success, marking a significant milestone for China's export aircraft [1] - The Ministry of Health and other departments released regulations on the management of deceased patients' services, emphasizing that medical institutions should not engage in funeral services [1] - The Ministry of Industry and Information Technology plans to enhance the role of enterprises in technological innovation and implement new policies to support high-quality development of specialized small and medium-sized enterprises [1] - The State Administration for Market Regulation released 160 national standard samples to improve product quality and promote technological advancement [1] Company Insights - WuXi AppTec expects to achieve a revenue of 45.456 billion yuan in 2025, a year-on-year increase of 15.84%, with a net profit of 19.151 billion yuan, up 102.65% [4] - Zhitex New Materials' stock has seen a continuous rise, with a 198.57% increase over six trading days, leading to a temporary suspension of trading [4] - Jinlongyu plans to invest approximately 1.2 billion yuan in a new solid-state battery production line in Shenzhen [4] - Yonghui Supermarket anticipates a negative net profit for 2025, indicating a potential operational loss [4] - Blue Arrow Electronics intends to acquire at least 51% of Chengdu Xinyi Technology Co., with a valuation not exceeding 675 million yuan [4] Industry Analysis - The securities industry is expected to see improved performance in 2026 due to supportive policies and accelerated consolidation, despite challenges from global geopolitical events and trade issues [5][6] - The average daily trading volume has increased since early 2025, indicating improved market activity and investor engagement [6] - Regulatory support for technology growth companies has led to increased IPO and financing activities, benefiting brokerage revenues [7] - The stability and sustainability of proprietary investments are crucial for brokerage performance, with a focus on balancing high returns and risk management [8] - The securities industry is likely to experience further consolidation, with notable mergers already occurring among major firms [10]

Investment Rating - The report maintains an "Overweight" rating for the transportation industry, indicating a positive outlook for the sector's performance relative to the overall market [12]. Core Insights - The shipping market is expected to see significant growth in Q4 2025, driven by strong VLCC freight rates and structural changes in trade dynamics, including new refinery capacities and geopolitical shifts [4]. - The aviation sector is projected to enter a golden era, with passenger transport expected to reach 770 million in 2025, marking a 5.5% increase from 2024 and a 16.7% increase from 2019 [4]. - The report highlights a shift in the shipping industry from supply-driven to demand-driven dynamics, particularly in shipbuilding, as older vessels are replaced [4]. - The logistics and freight forwarding sectors are facing challenges due to trade tensions, impacting profit margins and demand [4]. Summary by Sections Shipping - Q4 2025 VLCC freight rates are expected to average around $95,500 per day, with a projected demand increase of 1.7% from new refinery capacities and a 2.1% increase from compliance changes in Venezuelan oil [4]. - The dry bulk market is also showing strong performance, with Cape-sized vessel rates expected to rise by 20% to $27,600 per day [4]. - The report estimates that COSCO Shipping Energy's Q4 earnings will be approximately 1.9 billion RMB, while China Merchants Energy's will be around 2.9 billion RMB [4]. Shipbuilding - The shipbuilding sector is experiencing a tight supply-demand balance, with second-hand ship prices rising for 11 consecutive months, indicating a positive outlook for the industry [4]. Freight Forwarding - The freight forwarding sector is facing profit margin compression due to trade frictions, with the CCFI index expected to decline by 26% in Q4 2025 [4]. Aviation - The Chinese aviation market is expected to achieve a profit of 6.5 billion RMB in 2025, with major airlines like China Eastern Airlines anticipated to see significant performance improvements [4]. - The report emphasizes the importance of international routes as passenger volumes are expected to grow, driven by a recovery in outbound travel [4]. Express Delivery - The express delivery sector is projected to see a 5% year-on-year growth in Q4, driven by price increases and seasonal demand, despite challenges from trade policies [4]. Road and Rail - The report notes a slowdown in highway traffic growth, while rail passenger and freight volumes continue to increase, with recommendations for specific companies in the sector [4].

证券代码：603209 证券简称：兴通股份 公告编号：2026-004 兴通海运股份有限公司 关于聘任荣誉董事长及高级顾问的公告 兴通海运股份有限公司董事会 2026 年 1 月 13 日 2 荣誉董事长、高级顾问不属于董事会成员及高级管理人员，不参与公司日常 经营决策和管理，不享有董事及高级管理人员的相关权利，也不承担董事及高级 管理人员相关义务。 作为荣誉董事长及高级顾问，陈兴明先生、张文进先生和王良华先生将继续 在公司战略规划、企业文化建设等方面提供指导与支持，助力公司实现高质量发 展，以更好地回报广大股东。 1 特此公告。 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。 兴通海运股份有限公司（以下简称"公司"）于 2026 年 1 月 12 日召开第三 届董事会第一次会议，审议通过了《兴通海运股份有限公司关于聘任荣誉董事长、 高级顾问的议案》及《兴通海运股份有限公司关于聘任高级顾问的议案》，同意 聘任陈兴明先生为公司荣誉董事长、高级顾问，聘任张文进先生和王良华先生为 公司高级顾问。 陈兴明先生作为公司创始股东、控股股东 ...

证券代码：603209 证券简称：兴通股份 公告编号：2026-002 2、董事会成员： （1）非独立董事：陈其龙先生、柯文理先生（职工代表董事）、陈其德先 生、陈其凤女士 （2）独立董事：廖益新先生、李茂良先生、周德全先生 公司第三届董事会成员均符合相关法律法规、规范性文件规定的上市公司董 事任职资格，任期自公司 2026 年第一次临时股东会审议通过之日起三年。公司 第三届董事会成员中兼任公司高级管理人员以及由职工代表担任的董事人数总 计未超过公司董事总数的二分之一；独立董事占董事会成员的比例不低于三分之 一，且包括一名会计专业人士，独立董事的任职资格和独立性已经上海证券交易 兴通海运股份有限公司 关于完成董事会换届选举并聘任高级管理人员 及证券事务代表的公告 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。 兴通海运股份有限公司（以下简称"公司"）于 2026 年 1 月 12 日召开 2026 年第一次临时股东会，会议选举第三届董事会 3 名非独立董事和 3 名独立董事， 与职工代表大会选举的 1 名职工代表董事，共同组成 ...