经济观察网畅联股份（603648）董事兼高级管理人员徐峰于2026年2月10日减持公司股份5.00万股，占 公司总股本的0.0138%，交易均价为10.78元。这是近期连续第二次减持。减持期间，公司股价波动较 小。 高管变动 物流行业整体平稳，2025年全国社会物流总额同比增长5.1%，高端制造、消费物流需求增长显著。但 行业竞争加剧，技术转型压力凸显。畅联股份作为国资物流企业，需应对行业效率提升及成本控制挑 战。 财务状况 高管减持可能反映内部人士对公司短期前景的谨慎态度，或源于个人资金需求。减持事件本身持股比例 较小，但对市场情绪有潜在负面影响。 业绩持续性风险：若营收下滑趋势延续，可能进一步挤压利润空间。流动性风险：每股经营性现金流恶 化，若持续可能影响运营资金。监管环境趋严，公司需确保合规。 业绩经营情况 以上内容基于公开资料整理，不构成投资建议。 2025年第一季度财报显示，营业总收入3.48亿元，同比下降17.63%；归母净利润3169.38万元，同比下 降21.78%；扣非净利润下滑27.56%。关键指标如每股经营性现金流转负，表明经营活动现金流入承 压。有息负债1.55亿元，同比增加44.34 ...

证券日报网讯 2月10日，畅联股份在互动平台回答投资者提问时表示，为保证所有投资者公平地获取公 司信息，公司将按照相关规定在定期报告中披露相关时点的股东户数。 （文章来源：证券日报） ...

Group 1 - Company X is a core supplier in Apple's supply chain, focusing on RF components and electromagnetic shielding products, deeply integrated with Apple's antenna and wireless charging module needs [1] - The company is actively expanding into automotive electronics, developing in-vehicle wireless charging and communication modules to smooth out fluctuations in the consumer electronics cycle [1] - As Apple increases its demand for intelligent and integrated terminal devices, the company's technological accumulation in the RF field is expected to translate into order advantages [1] Group 2 - Company Y indirectly enters Apple's supply chain through subsidiaries, primarily providing display modules and power management components for smart TVs [2] - The company is accelerating its "home appliance + IoT" strategy, creating multi-scenario smart terminal collaborative solutions around the Apple ecosystem [2] - The trend of integration between consumer electronics and home appliances provides new business extension opportunities for the company [2] Group 3 - Company Z focuses on the development and manufacturing of automated testing equipment, covering performance testing for core components like Apple chips and camera modules [3] - The company's equipment has achieved industry-leading precision and stability, enabling rapid response to Apple's new product testing needs [3] - The company is actively expanding into the semiconductor testing equipment field to break through the limitations of the single consumer electronics market [3] Group 4 - Company A specializes in precision screen printing equipment, providing production equipment for circuit board printing and component packaging for Apple [4] - The company's equipment meets Apple's stringent manufacturing requirements in terms of precision, efficiency, and stability [4] - As the Apple supply chain upgrades to high-end manufacturing, the company is expected to benefit from equipment renewal demands [4] Group 5 - Company B provides high-performance copper foil materials for Apple's circuit boards and battery current collectors, leveraging a complete copper processing industry chain [5] - The company is increasing R&D investment in ultra-thin copper foil to meet Apple's material upgrade needs amid the trend of lightweight consumer electronics [5] - The growing demand for copper foil in the electric vehicle sector also brings new revenue growth for the company [5] Group 6 - Company C is a long-standing supplier in Apple's supply chain, focusing on diodes and other semiconductor discrete devices widely used in Apple's power management and signal transmission modules [6] - The company is expanding its automotive-grade device business to enhance its risk resistance amid industry cycle fluctuations [6] - Investment in the R&D of third-generation semiconductor devices is expected to open up long-term growth opportunities for the company [6] Group 7 - Company D specializes in functional structural components for consumer electronics, providing battery protection boards and heat dissipation modules for Apple [7] - The company's products meet Apple's design requirements for lightweight and integrated solutions through precision stamping and injection molding technology [7] - The company is positioning itself in the wearable devices and smart home sectors to seize growth opportunities in niche markets [7] Group 8 - Company E provides high-performance aluminum alloy materials for Apple's terminal devices, achieving industry-leading strength and lightweight standards [9] - The company continuously optimizes product competitiveness through technological iterations to meet Apple's increasing material performance requirements [9] - The demand for aluminum alloy materials in the electric vehicle sector also presents new growth opportunities for the company [9] Group 9 - Company F focuses on magnesium alloy materials, providing lightweight structural solutions for Apple [10] - The company leverages its R&D and large-scale production capabilities in magnesium alloys to gain more market share in Apple's supply chain [10] - The company is also accelerating its layout in the electric vehicle sector for magnesium alloy applications, creating a second growth curve [10] Group 10 - Company G, as a core authorized distributor for Apple, utilizes a nationwide offline channel network for the distribution and retail of Apple products [11] - The company is promoting a new retail model that integrates online and offline channels to enhance user experience and operational efficiency [11] - Its deep cooperative relationship with Apple serves as a core barrier in the competitive landscape [11] Group 11 - Company H provides chip packaging and testing services for Apple, covering core components like RF chips and storage chips [12] - The company maintains a significant position in Apple's supply chain due to its advanced packaging technology and large-scale manufacturing capabilities [12] - The company is accelerating its layout in automotive-grade chip packaging to adapt to industry structural changes [12] Group 12 - Company I participates in Apple's supply chain through air logistics services, ensuring efficient and safe delivery of core components globally [13] - The company has a robust air freight network and customized logistics solutions to support Apple's supply chain resilience [13] - The company is also expanding its cross-border e-commerce logistics business to enhance business diversification [13] Group 13 - Company J provides brand marketing services for Apple, focusing on offline event planning and content dissemination [14] - The company leverages its marketing experience and creativity to effectively communicate Apple's brand value [14] - The trend of content and scenario-based marketing in consumer electronics allows the company to create immersive marketing experiences for Apple [14] Group 14 - Company K offers communication network optimization services for Apple, ensuring stable network operations for Apple stores and data centers [15] - The company can quickly respond to Apple's network needs, supporting user experience upgrades [15] - The company is enhancing its service capabilities through technological upgrades in the context of 5G and IoT technology proliferation [15] Group 15 - Company L provides acoustic components for Apple, primarily used in audio output modules for devices like iPhones and headphones [16] - The company continuously optimizes its acoustic solutions through R&D investments to enhance product value [16] - The company is expanding into smart speakers and automotive acoustic businesses to unlock new growth opportunities [16] Group 16 - Company M specializes in precision metal structural components for Apple, providing essential parts like frames and brackets [18] - The company achieves industry-leading precision and consistency through advanced processing technology and large-scale manufacturing capabilities [18] - The company is also expanding into the electric vehicle structural component business to mitigate fluctuations in the consumer electronics cycle [18] Group 17 - Company N provides market research and data analysis services to support Apple's decision-making, focusing on user behavior research and product experience optimization [19] - The company utilizes a professional research team and big data technology to provide precise market insights for Apple [19] - In the context of intensified competition in the consumer electronics market, the company helps Apple enhance user stickiness and market share through in-depth data analysis [19] Group 18 - Company O supplies acoustic terminal products like headphones to Apple, meeting the ecological standards for sound quality and wearing experience [20] - The company continuously optimizes product performance through technological upgrades to expand application scenarios within Apple's ecosystem [20] - The company is also developing acoustic solutions for smart wearable devices to create long-term growth momentum [20] Group 19 - Company P provides deep processing glass technology for Apple, supplying display and structural glass for terminal devices [21] - The company's products achieve industry-leading strength and optical performance, aligning with Apple's requirements for product appearance and durability [21] - The trend of upgrading consumer electronics glass to larger sizes and higher transparency drives the company to continuously enhance its competitiveness [21] Group 20 - Company Q offers vacuum coating equipment for Apple, primarily used for surface treatment of screens and structural components [22] - The company's equipment meets Apple's manufacturing needs in terms of coating precision and stability [22] - The company helps Apple achieve differentiated competition through equipment technology iterations amid trends of upgrading appearance and performance in consumer electronics [22] Group 21 - Company R provides communication chips and modules for Apple, mainly used in smart home devices for connectivity [23] - The company's products meet Apple's ecological standards in terms of stability and compatibility [23] - The company is also expanding into automotive-grade communication chip business to unlock new growth opportunities [23] Group 22 - Company S specializes in machine vision inspection equipment for Apple, providing solutions for appearance and performance testing of terminal devices [24] - The company's equipment achieves industry-leading precision and efficiency through advanced visual algorithms and optical technology [24] - The company continuously enhances its inspection capabilities through equipment iterations, deeply participating in Apple's quality control system [24] Group 23 - Company T supplies environmentally friendly synthetic leather materials for Apple, used in accessories and smart device exterior components [25] - The company's products meet Apple's design requirements in terms of environmental friendliness and texture [25] - The trend of green and low-carbon transformation in consumer electronics drives the company to continuously optimize product performance through material innovation [25] Group 24 - Company U provides offline home furnishing showrooms for Apple, showcasing and selling smart home products [26] - The company helps Apple reach a broader family user base through its nationwide channel network [26] - The acceleration of the smart home ecosystem's implementation allows the company to enhance market penetration for Apple's smart home products [26] Group 25 - Company V offers supply chain logistics services for Apple, primarily handling warehousing and distribution of components [27] - The company ensures efficient operation of Apple's supply chain through intelligent logistics systems and customized solutions [27] - The company enhances logistics resilience to help Apple cope with uncertainties amid global supply chain restructuring [27] Group 26 - Company W provides display testing equipment for Apple, focusing on performance and defect detection of terminal screens [28] - The company's equipment meets Apple's high standards in precision and stability through advanced testing technology and algorithm capabilities [28] - The company continuously enhances its testing capabilities through equipment iterations, deeply participating in Apple's product quality control [28] Group 27 - Company X provides semiconductor packaging and module manufacturing services for Apple, covering core components like RF chips and power management chips [29] - The company maintains a significant position in Apple's supply chain due to its advanced manufacturing technology and large-scale capacity [29] - The company is accelerating its layout in automotive-grade chip business to adapt to industry structural changes [29] Group 28 - Company Y provides automated assembly equipment for Apple, primarily used in the precision assembly of terminal devices [30] - The company's equipment meets Apple's manufacturing needs in terms of efficiency and stability through advanced automation technology [30] - The company continuously enhances its assembly capabilities through equipment iterations, deeply participating in Apple's production system [30] Group 29 - Company Z provides functional testing fixtures and automation equipment for Apple, focusing on performance testing and validation of terminal devices [31] - The company's products meet Apple's high standards in precision and reliability through a professional R&D team and manufacturing capabilities [31] - The company supports Apple's efficient product launches by quickly responding to customer needs amid the accelerated pace of consumer electronics iteration [31] Group 30 - Company A provides precision functional structural components for Apple, primarily used in internal components of devices like iPhones and iPads [32] - The company's products meet Apple's design requirements in terms of stability and integration through mature manufacturing processes and quality control [32] - The company is also expanding into the electric vehicle structural component business to unlock new growth opportunities [32] Group 31 - Company B supplies rare earth permanent magnet materials for Apple, used in components like vibration motors and sensors [33] - The company's materials meet Apple's technical requirements in terms of magnetic performance and stability through advanced rare earth processing technology [33] - The trend of intelligent upgrades in consumer electronics drives the company to continuously optimize product performance through material innovation [33] Group 32 - Company C provides quartz crystal components for Apple, primarily used in clock and frequency control modules of terminal devices [34] - The company's products meet Apple's high standards in precision and stability through mature crystal manufacturing technology [34] - The trend of high-frequency and high-speed upgrades in consumer electronics drives the company to continuously optimize product performance [34] Group 33 - Company D provides display touch modules for Apple, primarily used in screen components of iPhones and iPads [35] - The company's products meet Apple's ecological standards in terms of touch sensitivity and display quality through advanced display technology and manufacturing capabilities [35] - The trend of flexible and high-refresh-rate upgrades in display technology drives the company to continuously enhance module performance [35] Group 34 - Company E, as a core strategic supplier for Apple, specializes in precision connectors and modules widely used in devices like iPhones and headphones [37] - The company occupies a core position in Apple's supply chain due to its full industry chain layout and large-scale manufacturing capabilities [37] - The company is accelerating its layout in automotive electronics to create a long-term growth engine [37] Group 35 - Company F provides rare earth permanent magnet materials for Apple, used in components like motors and sensors [38] - The company's materials meet Apple's high standards in terms of performance and consistency through advanced rare earth permanent magnet technology [38] - The trend of intelligent upgrades in consumer electronics drives the company to continuously optimize product performance and deepen its integration into Apple's supply chain [38] Group 36 - Company G provides display solutions for Apple, primarily used in brand display and interactive experience scenarios in Apple stores [39] - The company leverages advanced display technology and creativity to create immersive brand communication scenarios for Apple [39] - The trend of scenario-based marketing in consumer electronics allows the company to continuously enhance its service capabilities and strengthen its partnership with Apple [39] Group 37 - Company H provides functional film materials and automation equipment for Apple, primarily used in screen protection and assembly processes [40] - The company's products meet Apple's design requirements in terms of protection performance and fitting precision through advanced film material R&D and manufacturing capabilities [40] - The trend of lightweight upgrades in consumer electronics drives the company to continuously optimize product performance and deepen its integration into Apple's supply chain [40]

Core Viewpoint - Changlian Co., Ltd. focuses on providing lean supply chain management services for multinational enterprises, including integrated logistics services such as customs clearance, warehousing management, and cargo distribution [2] Group 1 - The company offers comprehensive supply chain management solutions tailored to client business needs [2] - Services include support for exports to EU countries [2]

证券代码：603648 证券简称：畅联股份 公告编号：2026-001 上海畅联国际物流股份有限公司 第五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。 2、审议通过了《关于选举上海畅联国际物流股份有限公司第五届董事会副董事长的议案》 选举蔡嵘先生、刘正奇先生为公司第五届董事会副董事长，任期同公司第五届董事会。 表决结果：12票赞成、0票反对、0票弃权，0票回避表决。 3、审议通过了《关于选举上海畅联国际物流股份有限公司第五届董事会专门委员会委员的议案》 一、董事会会议召开情况 上海畅联国际物流股份有限公司（以下简称"公司"）第五届董事会第一次会议于2026年1月13日在日京 路68号综合会议中心以现场结合通讯表决方式召开。会议通知及会议材料于2025年12月29日以电子邮 件、电话等形式发出。本次会议由半数以上董事共同推举董事尹强先生主持，应出席董事12名，实际出 席董事12名。会议参与表决人数及召集、召开程序符合《公司法》和《公司章程》的有关规定，所作决 议合法有效。 二、董事会会议审议情况 本 ...

Core Viewpoint - Changlian Co., Ltd. has announced the election of its new board members and committees during the first meeting of the fifth board of directors [2] Group 1 - The company has approved multiple resolutions, including the election of the chairman of the fifth board of directors [2] - The election of the vice chairman of the fifth board of directors has also been approved [2] - The company has elected members for its specialized committees within the fifth board of directors [2]

Group 1 - The company, Changlian Co., announced that its fifth board meeting will be held on January 13, 2026, at the Jinglu Road 68 Conference Center, utilizing both in-person and remote voting methods [1] - The meeting will review proposals including the election of members for the specialized committees of the fifth board of Shanghai Changlian International Logistics Co., Ltd [1] Group 2 - The industry is experiencing challenges with rising raw material costs, such as silver, leading to difficult decision-making for companies [1] - Some solar energy companies are rushing to export products, indicating a competitive market environment as they aim to meet delivery deadlines before April 1 [1]

一、董事会会议召开情况 上海畅联国际物流股份有限公司（以下简称"公司"）第五届董事会第一次 会议于 2026 年 1 月 13 日在日京路 68 号综合会议中心以现场结合通讯表决方式召 开。会议通知及会议材料于 2025 年 12 月 29 日以电子邮件、电话等形式发出。本 次会议由半数以上董事共同推举董事尹强先生主持，应出席董事 12 名，实际出席 董事 12 名。会议参与表决人数及召集、召开程序符合《公司法》和《公司章程》 的有关规定，所作决议合法有效。 二、董事会会议审议情况 本次董事会会议审议并通过了以下议案： 1、审议通过了《关于选举上海畅联国际物流股份有限公司第五届董事会董事 长的议案》 选举尹强先生为公司第五届董事会董事长，任期同公司第五届董事会。 证券代码：603648 证券简称：畅联股份 公告编号：2026-001 上海畅联国际物流股份有限公司 第五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。 提名委员会：蔡伟飞先生、蔡嵘先生、赵知宇先生、刘文召先生、王慧女士。 其中，由蔡伟飞先 ...

Core Viewpoint - The logistics sector experienced a slight increase of 0.04% on December 30, with ST Xuefa leading the gains, while the overall market showed mixed results with the Shanghai Composite Index closing at 3965.12, down 0.0% [1]. Group 1: Market Performance - The logistics sector's performance was highlighted by ST Xuefa, which closed at 4.31 with a gain of 5.12% [1]. - Other notable gainers included *ST Haijin, which rose by 3.34% to 8.35, and Changlian Co., which increased by 2.33% to 10.56 [1]. - The Shenzhen Component Index closed at 13604.07, reflecting an increase of 0.49% [1]. Group 2: Trading Volume and Value - ST Xuefa had a trading volume of 39,600 shares and a transaction value of approximately 16.80 million [1]. - The highest transaction value in the logistics sector was recorded by Donghang Logistics, with a closing price of 18.27 and a transaction value of 181 million [1]. - The overall trading volume and value for the logistics sector showed varied performance across different stocks, with some stocks like Baoshui Technology and Donghang Logistics achieving significant transaction values [1]. Group 3: Capital Flow - The logistics sector saw a net outflow of 531 million from institutional investors, while retail investors contributed a net inflow of 507 million [2]. - The data indicates that retail investors were more active in the logistics sector, contrasting with the outflow from institutional investors [2]. - Specific stocks like YTO Express and Baoshui Technology experienced varying levels of net inflow and outflow from different investor categories [3].

Core Viewpoint - Changlian Co., Ltd. announced the approval of multiple proposals at its first extraordinary general meeting of shareholders in 2025, including the cancellation of the supervisory board and the revision and addition of certain governance systems [2] Group 1 - The company held its first extraordinary general meeting of shareholders in 2025 on December 18 [2] - The meeting approved the proposal to cancel the supervisory board [2] - The company also approved revisions and additions to certain governance systems [2]