重要内容提示： 会 议 问 题 征 集 ： 投 资 者 可 于 2025 年 5 月 27 日 前 访 问 网 址 https://eseb.cn/1ogPKKQ3zW0 或使用微信扫描下方小程序码进行会前提问，公司 将通过本次业绩说明会，在信息披露允许范围内就投资者普遍关注的问题进行回 答。 一、说明会类型 证券代码：600007 证券简称：中国国贸 公告编号：2025-010 中国国际贸易中心股份有限公司 关于召开2024年度业绩说明会的公告 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。 会议召开时间：2025 年 5 月 28 日（星期三）10:00-11:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络文字互动方式 二、说明会召开的时间、地点和方式 会议召开时间：2025 年 5 月 28 日（星期三）10:00-11:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络文字互动方式 三、参加人员 公司总经理、副总经理、独立董事及董事会秘书。 投 资 ...

Group 1 - China International Trade (600007.SH) reported its Q1 2025 results, with 18 institutional investors holding a total of 870 million shares, representing 86.39% of the total share capital [1] - The top ten institutional investors collectively hold 86.33% of the shares, with a decrease of 1.10 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, seven funds increased their holdings, accounting for a 0.18% increase, including funds like the Low Volatility Dividend Index and others [2] - Two public funds decreased their holdings, showing a slight decline, while two new public funds were disclosed this period [2] - A total of 207 public funds were not disclosed this period, including various ETFs and mutual funds [2]

证券代码：600007 证券简称：中国国贸 编号：2025-009 中国国际贸易中心股份有限公司 2025 年第一季度房地产行业经营性信息简报 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个别及连带责任。 一、报告期内房地产储备情况 不适用。 二、报告期内房地产开发投资情况 不适用。 不适用。 四、报告期内房地产出租情况 | | | | | | | 金额单位：人民币元 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 地区 | 项目 | 经营 | 出租房地产 的建筑面积 | 出租房地产的 | 权益 比例 | 是否采 用公允 | 租金收入/ 房地产公允 | | | | 业态 | (平方米) | 租金收入 | （%） | 价值计 量模式 | 价值(%) | | | 中国 | 写字楼 | 356,248 | 360,259,336 | | | - | | 北京 | 国际 贸易 | 商城 | 180,460 | 309,120,856 | 100% | 否 | | | | 中心 | ...

Financial Performance - The company's operating revenue for Q1 2025 was RMB 950,096,879, a decrease of 3.29% compared to RMB 982,378,453 in the same period last year[4] - The net profit attributable to shareholders was RMB 311,496,694, down 7.45% from RMB 336,556,539 year-on-year[4] - The net profit after deducting non-recurring gains and losses was RMB 309,716,100, reflecting a decline of 7.75% compared to RMB 335,734,808 in the previous year[4] - Total revenue for Q1 2025 was $950.1 million, a decrease of 3.3% compared to Q1 2024's $982.4 million[22] - Net profit for Q1 2025 was $311.6 million, down 7.4% from $336.6 million in Q1 2024[22] - Operating profit for Q1 2025 was $413.5 million, a decline of 7.8% from $448.4 million in Q1 2024[22] - Earnings per share for Q1 2025 was $0.31, a decrease from $0.33 in Q1 2024[22] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 9.48% to RMB 489,656,922 from RMB 540,964,309 in the same period last year[4] - The net cash flow from operating activities for the consolidated entity in Q1 2025 was €489.66 million, a decrease of 9.5% compared to €540.96 million in Q1 2024[23] - Total cash inflow from operating activities decreased to €1.03 billion in Q1 2025 from €1.09 billion in Q1 2024, reflecting a decline of approximately 5.9%[23] - Cash outflow for purchasing goods and services was €148.62 million in Q1 2025, slightly down from €152.63 million in Q1 2024, indicating a reduction of about 2.0%[23] - The ending cash and cash equivalents balance for the consolidated entity was €4.23 billion in Q1 2025, down from €4.36 billion in Q1 2024, reflecting a decrease of approximately 3.0%[23] - Cash received from operating activities related to other income was €10.15 million in Q1 2025, down from €12.32 million in Q1 2024, a decline of about 17.6%[23] - The total cash outflow for employee payments was €191.70 million in Q1 2025, slightly up from €189.54 million in Q1 2024, indicating a marginal increase of 0.6%[23] - Cash flow from financing activities showed a net outflow of €9.91 million in Q1 2025, significantly lower than €61.19 million in Q1 2024, indicating a reduction in financing costs[23] Assets and Equity - The total assets at the end of the reporting period increased by 2.69% to RMB 12,655,468,104 from RMB 12,324,321,965 at the end of the previous year[4] - The company's total assets increased to $12.66 billion as of March 31, 2025, compared to $12.32 billion at the end of 2024, reflecting a growth of 2.7%[21] - The equity attributable to shareholders rose by 3.23% to RMB 9,964,576,801 from RMB 9,653,080,107 at the end of the previous year[4] - The company's equity attributable to shareholders reached $9.96 billion as of March 31, 2025, up from $9.65 billion at the end of 2024, indicating a growth of 3.2%[21] Non-Operating Income and Expenses - The company reported a significant increase in non-operating income, up 183.56%, primarily due to increased penalty income from tenants for early lease termination[7] - The investment income increased by 38.67%, mainly attributed to higher returns from investments in joint ventures[7] - The company experienced a 490.28% increase in non-operating expenses, primarily due to increased donation expenditures[8] Market and Operational Insights - The average rental income for office space in Beijing was RMB 627 per square meter per month, down from RMB 649 in the same period last year, with an occupancy rate of 92.7%[11] - The company reported a decrease in sales expenses to $21.9 million in Q1 2025 from $17.5 million in Q1 2024, reflecting a rise of 25.5%[22] - The company plans to focus on market expansion and new product development in the upcoming quarters[22]

Core Viewpoint - China International Trade (600007) reported a revenue of 950 million yuan for the first quarter of 2025, representing a year-on-year decline of 3.29% and a net profit of 311 million yuan, down 7.45% year-on-year [1] Company Summary - The company's revenue for Q1 2025 was 950 million yuan, which is a decrease of 3.29% compared to the same period last year [1] - The net profit for the same period was 311 million yuan, reflecting a decline of 7.45% year-on-year [1]

法律意见书 大成证字[2025]ZGGM 第 0428 号 www.dentons.cn 北京市朝阳区朝阳门南大街 10 号兆泰国际中心 B 座 16-21 层 北京大成律师事务所 关 于 中国国际 贸易中心 股份有限公司 2024 年 年 度 股东大会的 本所及经办律师依据《证券法》《律师事务所从事证券法律业务管理办法 （2023）》和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意 见书出具日以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽 责和诚实信用原则，进行了充分的核查验证，保证本法律意见所认定的事实真实、 准确、完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或 者重大遗漏，并承担相应法律责任。 16-21F, Tower B, ZT International Center, No.10, Chaoyangmen Nandajie, Chaoyang Dist. Beijing100020, China Tel: 8610-58137799 Fax: 8610-58137766 北京大成律师事务所 关于中国国际贸易中心股份有限公司 2024 年年度股东大会的法 ...

证券代码：600007 证券简称：中国国贸 公告编号：2025-008 中国国际贸易中心股份有限公司 2024年年度股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2025 年 4 月 28 日 (二)股东大会召开的地点：北京市朝阳区建国门外大街 1 号中国国际贸易中心国 贸大厦 A 座国贸大酒店 6 层群贤厅 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，公司董事长黄国祥先生主持。会议采用现 场投票和网络投票相结合的方式进行表决，符合《公司法》及《中国国际贸易中 心股份有限公司章程》的规定。 1 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 1、出席会议的股东和代理人人数 144 2、出席会议的股东所持有表决权的股份总数（股） 854,894,113 3、出席会议的股东所持有表决权股份数占公司有表决权股 份总数的比例（%） 84.871 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [3][11]. Core Views - The company is expected to achieve an EPS of 1.29 yuan and 1.34 yuan for 2025 and 2026 respectively, with a target price set at 25.78 yuan based on a 20X PE for 2025 [3][11]. - The company aims to leverage strategic opportunities in Beijing to enhance its core competitiveness, focusing on the renovation and upgrade of the China World Trade Center area [11]. Financial Summary - For 2024, the company reported a revenue of 39.12 billion yuan, a slight decrease of 1.05% year-on-year, while the net profit attributable to shareholders was 12.62 billion yuan, an increase of 0.25% [11][13]. - The company plans to distribute a cash dividend of 1.1 yuan per share (including tax) for 2024, resulting in a payout ratio of 88% and a dividend yield of 4.88% based on the closing price on April 23, 2025 [11]. - The revenue from property leasing and management for 2024 was 33.86 billion yuan, a marginal increase of 0.04%, with a gross margin of 66.04%, slightly down by 0.37 percentage points from 2023 [11][12]. Revenue Breakdown - In 2024, the company's rental income from various segments was as follows: office buildings (15.11 billion yuan), shopping malls (12.86 billion yuan), apartments (1.87 billion yuan), hotels (5.26 billion yuan), and others (4.02 billion yuan) [11]. - The average rental rates for 2024 were 639 yuan/sqm/month for office buildings (up 1 yuan), 1309 yuan/sqm/month for shopping malls (up 30 yuan), and 367 yuan/sqm/month for apartments (down 3 yuan) [11]. Market Data - The company's total market capitalization is 22.785 billion yuan, with a total share capital of 1,007 million shares [6]. - The stock price has fluctuated between 20.79 and 27.59 yuan over the past 52 weeks [6]. Financial Forecast - The company forecasts revenues of 40.36 billion yuan for 2025, with a slight increase in net profit to 12.98 billion yuan [5][12]. - The projected net profit margin for 2025 is expected to be around 32.2% [12]. Key Financial Ratios - The return on equity (ROE) is projected to be 12.9% for 2025, with a net asset return rate of 12.8% for 2027 [5][12]. - The company maintains a net debt ratio of -30%, indicating a strong financial position [7].

中国国际贸易中心股份有限公司 2024 年年度股东大会 会议文件 （会议召开时间：2025 年 4 月 28 日） 1 中国国际贸易中心股份有限公司 2024 年年度股东大会议案及文件目录 其他文件：李朝鲜先生、张祖同先生、张学兵先生及梁伟立先生的"独立 董事 2024 年度述职报告" 2 一、 审议公司 2024 年度董事会工作报告 二、 审议公司 2024 年度财务决算 三、 审议公司 2024 年年度利润分配方案 四、 审议公司 2024 年年度报告 五、 审议公司董事长及副董事长 2025 年度薪酬计划的议案 六、 审议续聘会计师事务所的议案 七、 审议公司 2024 年度监事会工作报告 议案一 公司 2024 年度董事会工作报告 公司 2024 年度董事会工作报告经 2025 年 3 月 28 日召开的公司九届十三次 董事会会议审议通过，并于 2025 年 4 月 1 日在上海证券交易所网站 （www.sse.com.cn）披露，敬请查阅。 3 议案二 公司 2024 年度财务决算 公司 2024 年度财务报表及其附注经 2025 年 3 月 28 日召开的公司九届十三 次董事会会议审议通过，并于 ...

Core Viewpoint - China International Trade reported a stable performance in 2024 with a slight decrease in revenue and a modest increase in net profit, indicating resilience in its operations despite market challenges [1][2]. Revenue and Profit Summary - The company achieved a revenue of 3.912 billion yuan in 2024, reflecting a year-over-year decrease of 1.05% [1]. - The net profit attributable to shareholders was 1.262 billion yuan, showing a year-over-year increase of 0.25% [1]. Rental Income and Cost Management - Total rental income remained stable at 2.88 billion yuan, with a year-over-year decrease of 1.14% [1]. - Breakdown of rental income by property type: - Office buildings: 1.48 billion yuan (yoy -3.3%) - Shopping malls: 1.22 billion yuan (yoy +1.0%) - Apartments: 190 million yuan (yoy +2.2%) [1]. - The company maintained a gross profit margin of 58.14%, an increase of 0.13 percentage points year-over-year, contributing to the slight rise in net profit [1]. Rental Rates and Occupancy - Rental rates and occupancy remained stable across different property types: - Office buildings: Average rent of 639 yuan/sqm/month (yoy +0.2%), occupancy rate of 93.1% (yoy -2.8pct) - Shopping malls: Average rent of 1,309 yuan/sqm/month (yoy +2.3%), occupancy rate of 96.5% (yoy -1.7pct) - Apartments: Average rent of 367 yuan/sqm/month (yoy -1.0%), occupancy rate of 88.9% (yoy +3.0pct) [2]. Dividend and Debt Structure - The company proposed a cash dividend of 11.00 yuan per 10 shares, totaling 1.108 billion yuan, resulting in a high dividend payout ratio of 88% [2]. - The total borrowings decreased to 1.09 billion yuan, a year-over-year reduction of 31.1%, with the debt-to-asset ratio declining to 21.6% [2]. Profit Forecast and Valuation - The company is expected to achieve revenues of 4.0 billion yuan, 4.06 billion yuan, and 4.12 billion yuan for 2025-2027, with net profits of 1.3 billion yuan, 1.33 billion yuan, and 1.35 billion yuan respectively [3]. - Corresponding price-to-earnings ratios are projected at 17.9x, 17.5x, and 17.1x for the same period [3].