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 2023 年 年 度 股东大会的 法律意见书 大成证字[2024]ZGGM 第 0426 号 www.dentons.com 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 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 2023 年年度股东大会的法律意见书 大成证字[2024]ZGGM 第 0426 号 致：中国国际贸易中心股份有限公司 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人民共和国 公司法》（以下简称"《公司法》"）和中国证券监督管理委员会《上市公司股东大 会规则（2022 年修订）》（以下简称"《股东大会规则》"）等相关法律、法规和规 范性文件的要求，北京大成律师事务所（以下简称"本所"）接受中国国际贸 ...

中国国际贸易中心股份有限公司 第二条 独立董事是指不在公司担任除董事外的其他职务，并与其所受聘 的公司及其主要股东、实际控制人不存在直接或者间接利害关系，或者其他可 能影响其进行独立客观判断关系的董事。 独立董事应当独立履行职责，不受公司及其主要股东、实际控制人等单位 或者个人的影响。 第三条 独立董事对公司及全体股东负有忠实与勤勉义务，应当按照法律、 行政法规、中国证券监督管理委员会（以下简称中国证监会）规定、证券交易 所业务规则和公司章程的规定，认真履行职责，在董事会中发挥参与决策、监 督制衡、专业咨询作用，维护公司整体利益，保护中小股东合法权益。 第四条 公司独立董事占董事会成员的比例不得低于三分之一，且至少包 括一名会计专业人士。 董事会审计委员会成员应当为不在公司担任高级管理人员的董事，其中独 立董事应当过半数，并由独立董事中会计专业人士担任召集人。 独立董事工作制度 （修订稿） 第一章 总则 第一条 为规范独立董事行为，充分发挥独立董事在公司治理中的作用， 促进提高公司质量，依据《上市公司治理准则》《上市公司独立董事管理办法》 《上海证券交易所股票上市规则》和公司章程等规定，结合公司实际，制定本 ...

证券代码：600007 证券简称：中国国贸 编号：2024-010 中国国际贸易中心股份有限公司 2024 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。 三、报告期内房地产销售和结转情况 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 业态 出租房地产 的建筑面积 (平方米) 出租房地产的 租金收入 权益 比例 （%） 是否采 用公允 价值计 量模式 租金收入/ 房地产公允 价值(%) 北京 中国 国际 贸易 中心 写字楼 356,248 375,774,991 商城 180,460 315,397,562 100% 否 - 公寓 80,124 47,181,730 特此公告。 1 中国国际贸易中心股份有限公司 董事会 2024 年 4 月 26 日 2 ...

中国国际贸易中心股份有限公司 2023 年年度股东大会 会议文件 （会议召开时间：2024 年 4 月 26 日） 1 中国国际贸易中心股份有限公司 2023 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 2023 年度述职报告" 2 一、 审议公司 2023 年度董事会工作报告 二、 审议公司 2023 年度财务决算 三、 审议公司 2023 年年度利润分配及特别分红方案 四、 审议支付普华永道中天会计师事务所（特殊普通合伙）2023 年度审 计报酬的议案 五、 审议公司 2023 年年度报告 六、 审议公司董事长及副董事长 2024 年度薪酬计划的议案 七、 审议续聘会计师事务所的议案 八、 审议公司 2023 年度监事会工作报告 九、 审议关于修改《中国国际贸易中心股份有限公司章程》的议案 十、 审议关于修改《中国国际贸易中心股份有限公司董事会议事规则》的 议案 十一、审议胡燕敏女士不再担任公司第九届监事会监事的议案 十二、审议选举江咏仪女士为公司第九届监事会监事的议案 议案一 公司 2023 年度董事会工作报告 公司 2023 年度董事会工作报告 ...

Investment Rating - The report assigns a "Hold" rating for the company, China International Trade Center (600007) [1]. Core Insights - The company has a strong presence in Beijing's core business district, with a significant increase in dividend payout ratio, reaching a total cash dividend ratio of 104% for 2023 [2][3]. - The company reported a revenue of 3.95 billion yuan in 2023, a year-on-year increase of 14.9%, with a compound annual growth rate (CAGR) of 4.5% from 2018 to 2023 [2][3]. - The net profit attributable to shareholders was 1.26 billion yuan, up 12.8% year-on-year, with a CAGR of 10.2% from 2018 to 2023 [2][3]. - The company’s financial health is robust, with a decrease in long-term borrowings by 31% to 1.14 billion yuan and an asset-liability ratio dropping to 24.7% [3][21]. Summary by Sections Business Performance - The company operates in a diversified business model, including office buildings, shopping malls, hotels, and apartments, with office and mall revenues contributing 39.5% and 32.3% respectively to total revenue [24][25]. - The office rental income grew by 1.4% to 1.56 billion yuan, with an occupancy rate of 95.9%, maintaining stability compared to pre-pandemic levels [25][26]. - The shopping mall's average rental increased by 10.4% to 1,279 yuan per square meter per month, with a high occupancy rate of 98.2% [26][28]. Financial Metrics - The gross margin improved to 58.0%, and the net margin reached 31.9%, reflecting effective cost control and operational efficiency [3][20]. - The company’s operating cash flow increased by 5.2% to 1.92 billion yuan, indicating strong cash generation capabilities [21][22]. - The average financing cost decreased from 4.8% to 3.6% from 2018 to 2023, showcasing improved financial management [21]. Market Position - The company is strategically located in Beijing's CBD, benefiting from a unique geographical advantage that enhances its competitive edge [23]. - The company has a high concentration of ownership, with the controlling shareholder holding approximately 80.65% of the shares, ensuring stability in governance [14][15].

[Table_MainInfo] 公司研究/房地产/房地产 证券研究报告 中国国贸（600007）公司年报点评 2024年04月03日 [Table_InvestInfo] 投资评级 优于大市 维持 业绩靓丽分红丰厚，租金同增出租率稳定 股票数据 [Table_Summary] 0[4Ta月b0le2_日S收to盘ck价（In元fo）] 24.71 投资要点： 52周股价波动（元） 16.52-25.69 总股本/流通A股（百万股） 1007/1007  营收和归母净利润双增长，分红丰厚。2023 年，公司实现营业收入 39.5 亿 总市值/流通市值（百万元） 24890/24890 元，同比增加14.9%；实现归母净利润12.59亿元，同比增加12.8%。2023 相关研究 年公司拟向全体股东每股派发现金红利0.8元(含税)。另外，为回报股东对公 [《Ta营b收le利_R润e稳p健or增tIn长fo，] 物业运营成绩亮眼》 司的长期信任和支持，公司拟向全体股东每股特别派发现金红利 0.5 元(含 2023.05.03 税)，上述两项合计每股派发现金红利1.3元(含税)，派息率大幅提升至104%， 以202 ...

Investment Rating - The report assigns a "Buy" rating for the company, specifically recommending an "Increase" rating for the first time [2][23]. Core Insights - The company achieved a revenue of 3.954 billion yuan in 2023, representing a year-on-year growth of 14.86%, and a net profit attributable to shareholders of 1.259 billion yuan, up 12.84% year-on-year [4][5]. - The company plans to distribute a special cash dividend of 1.3 yuan per share, with a dividend payout ratio of 104%, resulting in a dividend yield of 5.9% based on the closing price on March 28 [6][12]. - The property leasing and management business generated revenue of 3.385 billion yuan, growing by 6.8% year-on-year, maintaining a stable gross margin of 66.41% [10][21]. Financial Performance Summary - Revenue and profit growth: - 2023 revenue: 3.954 billion yuan, up 14.86% - 2023 net profit: 1.259 billion yuan, up 12.84% - Gross margin: 58.01%, up 1.48 percentage points year-on-year [5][7]. - Forecast for 2024-2025: - Expected EPS: 1.37 yuan in 2024 and 1.52 yuan in 2025 - Corresponding PE ratios: 16.0 times for 2024 and 14.5 times for 2025 [23][24]. Business Segment Analysis - Office leasing: - Revenue: 1.561 billion yuan, up 1.4% - Average rent: 638 yuan/sqm/month, up 1.8% - Occupancy rate: 95.9%, down 0.4 percentage points [13][16]. - Mall leasing: - Revenue: 1.275 billion yuan, up 10.0% - Average rent: 1,279 yuan/sqm/month, up 10.4% - Occupancy rate: 98.2%, down 0.6 percentage points [16][18]. - Apartment leasing: - Revenue: 183 million yuan, up 15.5% - Average occupancy rate: 85.9%, up 12.6 percentage points [18][19]. - Hotel operations: - Revenue: 569 million yuan, up 107.7% - Gross margin: 8.1%, marking a recovery since 2020 [21][23].

Financial Performance - The company reported a total operating income of 3.95 billion yuan in 2023, representing a year-on-year increase of 14.86% compared to 3.44 billion yuan in 2022[6]. - The net profit attributable to shareholders was 1.26 billion yuan in 2023, an increase of 12.84% from 1.12 billion yuan in 2022[6]. - The company's operating revenue for 2023 was CNY 3,953,761,873, representing a 14.86% increase from CNY 3,442,276,658 in 2022[28]. - The net profit attributable to shareholders for 2023 was CNY 1,259,201,327, up 12.84% from CNY 1,115,870,811 in 2022[28]. - Total profit reached RMB 1.68 billion, up by RMB 190 million or 12.5% year-on-year, while profit excluding non-recurring items was RMB 1.67 billion, reflecting a 23.6% increase[40]. - The net cash flow from operating activities for 2023 was CNY 1,918,660,921, reflecting a 5.17% increase from CNY 1,824,331,237 in 2022[28]. Dividends and Payouts - The company plans to distribute a total cash dividend of 1.3 yuan per share, which includes a regular dividend of 0.8 yuan and a special dividend of 0.5 yuan[3]. - The cash dividend payout ratio for 2023 is 64%, with a special dividend payout ratio of 40%, resulting in a combined payout ratio of 104%[14]. - The company distributed a cash dividend of 7.00 RMB per 10 shares, totaling 705,097,774 RMB, with 5,017,637,285 RMB retained for future distribution[124]. - The company declared a cash dividend of 13.00 RMB per 10 shares, amounting to 1,309,467,294 RMB, which represents 104% of the net profit attributable to ordinary shareholders in the consolidated financial statements[126]. Assets and Liabilities - As of December 31, 2023, total assets amounted to 128.81 billion yuan, slightly up from 128.27 billion yuan in 2022[15]. - The company's total liabilities decreased to 317.72 million yuan in 2023 from 367.83 million yuan in 2022, indicating improved financial stability[15]. - The company's total assets at the end of 2023 were CNY 12,881,135,035, a slight increase of 0.42% from CNY 12,827,290,298 at the end of 2022[29]. - The net assets attributable to shareholders increased by 6.07% to CNY 9,700,158,327 at the end of 2023, compared to CNY 9,145,452,568 at the end of 2022[29]. Rental and Property Management - The average rental income for 2023 was 39.5 million yuan, up from 34.4 million yuan in 2022[8]. - The average rental rate for the company's properties was RMB 638 per square meter per month, with an overall occupancy rate of 95.9%, slightly down from 96.3% the previous year[44]. - The hotel segment saw a significant revenue increase of 107.41%, with operating revenue reaching RMB 569 million, compared to RMB 274 million in the previous year[42]. - The company’s property leasing and management segment generated RMB 3.38 billion in revenue, with a gross margin of 66.41%, a slight decrease of 0.12% from the previous year[42]. - The rental income from leased properties amounted to RMB 1.53 billion from office buildings and RMB 1.20 billion from shopping malls[62]. Strategic Initiatives and Market Outlook - The company adopted flexible operational strategies to meet annual business goals amid a slowing economic recovery in the second half of the year[36]. - The company aims to enhance its core competitiveness by upgrading the Guomao business district and leveraging technology[72]. - The company will accelerate its digital transformation, including the implementation of an ERP system and the enhancement of its mobile app[74]. - The company expects to achieve a revenue of CNY 3.95 billion in 2024, with a total profit of CNY 1.56 billion[73]. - The company plans to control costs and enhance efficiency to meet its annual budget goals, focusing on flexible marketing strategies and optimizing tenant satisfaction[73][74]. Governance and Management - The company has established a comprehensive corporate governance structure, ensuring clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[78]. - The company has appointed new directors and supervisors during the shareholders' meetings, ensuring governance continuity[82]. - The total pre-tax remuneration for directors, supervisors, and senior management in the reporting period amounted to CNY 2,406,000[86]. - The company has a total of 12 directors and supervisors, with varying terms of service, the longest being until April 2026[87]. - The company has established a remuneration committee to oversee compensation practices for its executives[87]. Social Responsibility and Environmental Initiatives - The company actively participated in social responsibility initiatives, contributing 530,000 RMB to disaster relief efforts[135]. - The company invested 1,179.32 million RMB in environmental protection initiatives during the reporting period[132]. - The company implemented energy-saving modifications to 66 air handling units and upgraded the B building's heating station, resulting in a reduction of 667 tons of CO2 equivalent emissions[134]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[133]. - The company’s ongoing projects are aligned with national poverty alleviation and rural revitalization strategies, contributing to sustainable development in affected areas[141]. Financial Stability and Debt Management - The current ratio decreased by 14.54% to 2.15 from 2.52 in the previous year[186]. - The asset-liability ratio improved to 24.67% from 28.68%, a decrease of 4.01%[186]. - The interest coverage ratio increased by 48.03% to 24.61 from 16.62 in the previous year, indicating better profitability[186]. - The loan repayment rate and interest payment rate both stand at 100%, indicating full compliance with repayment obligations[187]. - The company has established a debt repayment plan for the "19 Guomao 01" corporate bonds, ensuring timely and full payment of interest and principal[183].

中国国际贸易中心股份有限公司 2023 年度董事会工作报告 中国国际贸易中心股份有限公司 2023 年度董事会工作报告 一、 董事会关于公司报告期内经营情况的讨论与分析 2023 年，随着人员流动及生产生活秩序逐步恢复正常，政府连续出台了一系列稳增长、 促消费的政策。国内消费市场和宏观经济均呈现较好的复苏迹象。尽管北京写字楼市场新 增需求仍显疲软，但商业物业市场、服务式公寓市场以及酒店业都呈现较好的回暖趋势。 写字楼市场全年新增供应量较大，受宏观经济复苏趋势尚不稳固及部分企业缩减办公 面积等因素的影响，新增需求较为疲弱，部分区域全年净吸纳量呈现负值，去化压力较大， 导致北京市场总体空置率持续上升，租金水平也因此持续承压。 商业物业市场受益于消费市场的复苏，尽管全年市场新增供应集中，但租赁需求回升 超过预期，推动全年净吸纳量达到历史最高值，从而带动租金止跌回稳。 服务式公寓市场表现良好，随着人员流动全面恢复，几年来受抑制的需求集中释放， 且市场的优质供应相对较少，促使北京服务式公寓市场空置率持续下降，租金水平略有增 长。 酒店经营回暖明显，伴随商务及会展活动、旅游出行人次的回升，市场需求恢复，推 动酒店整体经营 ...

致股东： 独立董事2023年度述职报告 年度内，本人严格按照《公司法》《上市公司治理准则》《上市公司独立董事管 理办法》《上海证券交易所股票上市规则》等有关法律法规和公司章程的规定，积极 履行职责，恪尽职守，认真审议公司董事会各项议案，从客观、公正立场出发，作出 独立判断。现将2023年度的履职情况报告如下： 一、独立董事的基本情况 作为公司的独立董事，本人拥有专业资质及能力，在从事的专业领域积累了丰富 的经验，不存在影响独立性的情况。 简历：香港会计师公会会员，1982 年毕业于香港理工学院（现为香港理工大 学），同年加入安永会计师事务所工作，1994 年成为合伙人，2020 年 6 月退休。1994 年至 2019 年期间担任过安永大中华业务管理合伙人和华东区管理合伙人等职务。拥 有丰富的企业重组及上市经验，现任东风汽车集团股份有限公司（于香港上市之公 司）、Ding Dong (Cayman) Limited"叮咚买菜"（于纽约上市之公司）、上海化学工 业区工业气体有限公司及浙江网商银行股份有限公司之独立非执行董事；本公司第九 届董事会独立董事、审计委员会委员、薪酬委员会委员。 中国国贸独立董事 202 ...