Summary of Zhonggu Logistics Conference Call Company Overview - Zhonggu Logistics allocates approximately 60% of its capacity to the foreign trade market, utilizing time-chartered vessels to ensure revenue stability [2][4] - The company has a total capacity of 3.3 million tons, with 2.1 million tons for foreign trade leasing and 1.2 million tons for domestic trade [9] Key Points and Arguments Foreign Trade Performance - In Q3 2025, foreign trade profits were approximately 400 million RMB, but overall profitability fell short of expectations due to a domestic trade off-season and capacity adjustments [2][4] - The fourth quarter is expected to be a traditional peak season with rising freight rates, although the extent of the increase remains to be observed [5] - Approximately 33% to 40% of the capacity will need to be renegotiated in 2026, with 17 vessels (90,000 tons each) being crucial for foreign trade revenue [6][10] Domestic Trade Performance - Domestic capacity reduction has led to a 20%-30% decline in transport volume, but the market remains oligopolistic, with major competitors adopting similar strategies [7][16] - The domestic container transport market is closely tied to macroeconomic conditions, particularly influenced by the real estate sector [16] - Despite a reduction in domestic capacity, the company maintains a stable market position due to the oligopolistic structure [7] Cost and Revenue Structure - Domestic trade incurs higher costs due to increased terminal handling fees and other operational expenses, leading to a slight loss in Q3 2025 despite overall profitability [3][11] - The company’s foreign trade operations contribute approximately 400 million RMB in net profit each quarter, with lower costs compared to domestic operations [10][18] Market Dynamics - Current market demand is average, with supply contraction leading to decreased terminal operations and increased handling costs [8] - The PDCA index indicates that price levels are comparable to or slightly better than last year, but the impact of late-season price increases on overall performance needs further observation [7][8] Future Outlook - The company plans no new vessel construction, focusing instead on strategic capacity reduction and potential investments in logistics parks [22] - The global container shipping market is expected to face an oversupply of large vessels by 2027-2028, potentially increasing demand for smaller vessels in niche markets [12][13][19] Shareholder Returns - The company has a high dividend payout ratio, with plans to distribute at least 60% of the cumulative distributable profits over the past three years in cash by the end of 2025 [25] Additional Important Information - The company’s operational strategy includes balancing domestic and foreign trade to maximize overall profitability [4][18] - The domestic container transport market is relatively stable, with price fluctuations being less severe compared to foreign trade [17] - The company maintains a strong cash position, with over 12 billion RMB available to cover all borrowings, despite a relatively high debt-to-asset ratio [22]

Group 1 - The core point of the announcement is that Shanghai Zhonggu Logistics Co., Ltd. has received a notification from its shareholder, Ningbo Guyang Investment Management Partnership (Limited Partnership), regarding a reduction in shareholding that has triggered a change in ownership percentage by touching the 5% integer threshold [2][3] - The shareholder, Guyang Investment, reduced its holdings by 439,400 shares, which accounts for 0.02% of the company's total share capital, bringing the total shareholding of the information disclosure obligor and its concerted parties from 60.02% to 60.00% [2][3] - This reduction in shareholding is part of a previously disclosed plan and does not trigger a mandatory takeover bid, nor does it lead to a change in the company's controlling shareholder or actual controller [3][4] Group 2 - The announcement emphasizes that the information disclosure obligor and its concerted parties have guaranteed the accuracy and completeness of the information provided, ensuring there are no false records or misleading statements [1] - The company will disclose a simplified report on the equity change as required by relevant regulations, which will be available on the Shanghai Stock Exchange website and other designated media [3]

Group 1 - The core business of the company is container logistics services, and it does not engage in import and export trade-related activities [1]

证券代码：603565 证券简称：中谷物流 公告编号：2025-038 上海中谷物流股份有限公司 关于持股 5%以上股东权益变动触及 5%整数倍的提示 性公告 控股股东及其一致行动人保证向本公司提供的信息真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： | 权益变动方向 | 比例增加□ | | 比例减少√ | | --- | --- | --- | --- | | 权益变动前合计比例 | 60.02% | | | | 权益变动后合计比例 | 60.00% | | | | 本次变动是否违反已作出的承 诺、意向、计划 | 是□ | 否√ | | | 是否触发强制要约收购义务 | 是□ | 否√ | | 一、 信息披露义务人及其一致行动人的基本信息 | 信息披露义务人名称 | | 投资者身份 | 统一社会信用代码 | | --- | --- | --- | --- | | 宁波谷洋投资管理合 | □ | 控股股东/实控人 | √ 91310108351031386H | | 伙企业（有限合伙） | √ | 控股股东/实控人的 ...

住所：浙江省宁波市北仑区梅山七星路88号1幢401室A区A1046 通讯地址：浙江省宁波市镇海区蛟川街道蛟川街道大运路1号中国液化大厦12楼 信息披露义务人二：中谷海运集团有限公司 住所：中国（上海）自由贸易试验区临港新片区业盛路188号A-522室 通讯地址：上海市浦东新区民生路1188号19楼 权益变动性质：股份减少 上海中谷物流股份有限公司 简式权益变动报告书 上市公司名称：上海中谷物流股份有限公司 信息披露义务人一：宁波谷洋投资管理合伙企业（有限合伙） 五、信息披露义务人承诺本报告书不存在虚假记载、误导性陈述或重大遗漏， 并对其真实性、准确性、完整性承担个别和连带的法律责任。 1 签署日期：二〇二五年十二月十五日 上市地点：上海证券交易所 股票简称：中谷物流 股票代码：603565 信息披露义务人声明 一、本报告书系信息披露义务人依据《中华人民共和国证券法》《上市公司 收购管理办法》《公开发行证券的公司信息披露内容与格式准则第15号—权益变 动报告书》等相关法律法规编制。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规则的任何条款，或与之冲突。 三、依 ...

格隆汇12月15日丨中谷物流(603565.SH)公布，公司收到股东谷洋投资出具的《关于股份减持进展的告 知函》，谷洋投资于2025年12月15日通过上海证券交易所系统以集中竞价方式减持公司股份43.94万 股，占公司总股本的0.02%，信息披露义务人及其一致行动人持股比例从60.02%减少至60.00%，其权益 触及5%、1%整数倍。 登录新浪财经APP 搜索【信披】查看更多考评等级 ...

（原标题：中谷物流(603565.SH)：股东谷洋投资减持43.94万股公司股份） 格隆汇12月15日丨中谷物流(603565.SH)公布，公司收到股东谷洋投资出具的《关于股份减持进展的告 知函》，谷洋投资于2025年12月15日通过上海证券交易所系统以集中竞价方式减持公司股份43.94万 股，占公司总股本的0.02%，信息披露义务人及其一致行动人持股比例从60.02%减少至60.00%，其权益 触及5%、1%整数倍。 ...

中谷物流公告称，2025年12月15日，股东宁波谷洋投资管理合伙企业（有限合伙）以集中竞价方式减持 43.94万股，占总股本0.02%。信息披露义务人及其一致行动人持股比例从60.02%降至60.00%，触及 5%、1%整数倍。本次变动是履行减持计划，不触及要约收购，未违反承诺，控股股东及实控人不变， 减持计划尚未执行完毕。 ...

证券之星消息，12月15日航运港口板块较上一交易日上涨0.92%，中谷物流领涨。当日上证指数报收于 3867.92，下跌0.55%。深证成指报收于13112.09，下跌1.1%。航运港口板块个股涨跌见下表： 从资金流向上来看，当日航运港口板块主力资金净流出2.12亿元，游资资金净流出9650.09万元，散户资 金净流入3.09亿元。航运港口板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 ...

证券之星消息，12月8日航运港口板块较上一交易日下跌0.18%，中谷物流领跌。当日上证指数报收于 3924.08，上涨0.54%。深证成指报收于13329.99，上涨1.39%。航运港口板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000905 | 厦门港务 | 13.20 | 10.00% | | 108.53万 | 13.55 Z | | 002320 | 海峡股份 | 13.17 | 5.53% | | 69.35万 | · 9.05亿 | | 603162 | 海通发展 | 13.70 | 3.09% | | 61.70万 | 8.33亿 | | 603209 | 兴通股份 | 17.03 | 2.90% | 1 | 22.70万 | 3.83亿 | | 600179 | 安通控股 | 4.37 | 2.82% | | 112.37万 | 4.88亿 | | 601022 | 宁波远洋 | 9.37 | 2.29% | | 15.24万 | 1.4 ...