日照港股份有限公司与山东港湾建设集团有限公司发生大额关联交易公告深度解读

一、公告要点概述

• 交易性质： 本次交易为日照港股份有限公司（简称“日照港”）及其控股子公司与控股股东旗下山东港湾建设集团有限公司（简称“山东港湾”）发生的关联交易，合同总金额高达79,353.81万元（约7.94亿元人民币）。
• 交易类型： 关联交易主要为工程施工项目，包括港口堆场扩建、雨棚及库房建设、变电站线路施工、道路改造、码头疏浚及堆场配套等。
• 审批流程： 该交易已通过董事会审议，独立董事亦已审核通过，但仍需提交股东大会审议且关联股东需回避表决。
• 定价原则： 交易价格以市场招标结果为依据，公开、公平、公正，未损害公司与中小股东利益。
• 财务影响： 该项目有助于提升公司基础设施，增强港口服务能力和市场竞争力，有望对公司未来业绩产生积极影响。

二、交易详情与影响

1. 关联方情况

山东港湾是日照港控股股东日照港集团的控股子公司，注册资本197,455.1万元，主营港口与航道工程施工、房建、市政、设备安装等。2025年末资产总额171.58亿元，净资产36.13亿元，2025年营业收入63.96亿元，净利润1.91亿元。双方在产权、业务、资产、债权债务、人员等方面保持独立。

2. 具体关联交易项目及金额

3. 交易对公司的重要影响及股东需关注事项

• 本次交易金额巨大，已达到公司最近一期经审计净资产5%以上，属于重大关联交易，需提交股东大会审议。
• 交易涉及公司核心资产建设，有助于优化基础设施，提升服务能力及市场竞争力，长期或将提升公司盈利能力，属利好消息。
• 独立董事已对本交易发表明确同意意见，相关董事回避表决，确保公司治理规范。
• 合同价格通过市场化招标确定，透明公正，无利益输送，有助于增强投资者信心。
• 因控股股东为关联方，相关股东在股东大会表决时需回避，保障中小股东利益。
• 本次交易尚未最终生效，仍需股东大会批准，投资者应持续关注相关进展。

三、后续流程与投资者建议

• 投资者需重点关注后续股东大会表决结果，如获通过，将对公司基础设施升级及业绩改善起到积极推动作用。
• 短期内该消息或将提升市场对公司未来成长预期，具备一定股价催化效应。
• 建议关注后续合同实施进度及经营成果落实情况。

四、结论

本次日照港与山东港湾的大额关联交易，涉及公司核心港口设施建设，是公司未来发展的重要基础，且交易过程合规、透明、公平，有利于维护公司及广大股东利益，具备较强的业绩增厚预期，对公司股价构成潜在利好。建议投资者密切关注后续事项进展。

免责声明：本文基于公司公告及公开信息撰写，不构成任何投资建议。投资者据此操作，风险自担。

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English Version

In-depth Analysis: Rizhao Port Co., Ltd. Announces Major Related-Party Transaction with Shandong Harbor Construction Group

Key Highlights

• Transaction Nature: Rizhao Port Co., Ltd. and its subsidiaries have entered into a significant related-party transaction with Shandong Harbor Construction Group, a subsidiary of its controlling shareholder. The total contract value is RMB 793.54 million (approx. RMB 794 million).
• Transaction Type: The transactions cover major engineering projects including port yard expansion, warehouse and shed construction, substation line works, road reconstruction, dredging, and supporting engineering for wharves.
• Approval Process: The transaction has been approved by the Board of Directors and reviewed by independent directors but still requires shareholder approval at the General Meeting, with related shareholders required to abstain from voting.
• Pricing: The contract price was determined based on market-based public bidding, ensuring fairness and transparency, with no harm to the interests of the company or minority shareholders.
• Financial Impact: These projects are expected to improve infrastructure, enhance service capabilities and competitiveness, and could positively impact the company’s future performance.

Transaction Details & Implications

1. Related Party Information

Shandong Harbor Construction Group is a subsidiary of Rizhao Port’s controlling shareholder. It has a registered capital of RMB 1.97 billion, and is engaged in various engineering projects. As of the end of 2025, its total assets were RMB 17.16 billion, net assets RMB 3.61 billion, with 2025 revenue of RMB 6.40 billion and net profit of RMB 191 million. Both sides remain independent in ownership, operations, assets, and personnel.

2. Major Contracts and Amounts

3. Key Shareholder Concerns & Price-sensitive Information

• This is a large-sum related-party transaction, exceeding 5% of the company’s net assets, and must be approved by the General Meeting of Shareholders.
• The projects involve core infrastructure upgrades, which will enhance capacity and competitiveness, and are likely to boost future profitability—a positive signal for the stock.
• Independent directors have given clear approval and related directors abstained, demonstrating robust corporate governance.
• Market-based bidding ensures transparency and fairness, with no interest transfer, which should reassure investors.
• Controlling shareholders will abstain from voting at the General Meeting, protecting the interests of minority shareholders.
• The transaction is not yet in effect and is subject to shareholder approval; investors should closely follow further developments.

Next Steps & Investor Advice

• Investors should monitor the outcome of the upcoming General Meeting, as approval would support the company’s infrastructure and earnings prospects.
• This news could act as a catalyst for the company’s share price in the short term, given its impact on future growth projections.
• Pay attention to the progress and implementation of the contracts and related performance results.

Conclusion

This major related-party transaction between Rizhao Port and Shandong Harbor Construction, involving core port infrastructure, is fundamental to the company’s future development. The process is compliant, transparent, and fair, and is expected to benefit the company and all shareholders. It is likely to be a positive catalyst for the stock. Investors are advised to stay updated on subsequent progress.

Disclaimer: This article is based on public company disclosures and is not investment advice. Investors should act at their own risk.

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