Core Viewpoint - Zhu Mian Group (600185.SH) reported a significant decline in revenue and incurred a net loss in its 2025 semi-annual report, primarily due to asset restructuring and high expenditure [2] Financial Performance - The company achieved an operating revenue of 1.739 billion yuan, representing a year-on-year decrease of 45.62% [2] - The net loss for the period was 274 million yuan, an improvement from a loss of 554 million yuan in the same period last year [2] Reasons for Performance - The decline in operating revenue was mainly attributed to the completion of a major asset swap, which led to a decrease in revenue from real estate project handovers [2] - High expenditure was also cited as a contributing factor to the current period's losses [2]

珠海珠免集团股份有限公司2025 年半年度报告 公司代码：600185 公司简称：珠免集团 珠海珠免集团股份有限公司 2025 年半年度报告 1 / 194 珠海珠免集团股份有限公司2025 年半年度报告 重要提示 四、 公司负责人李向东、主管会计工作负责人高升业及会计机构负责人（会计主管人员）石晶 华声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 受各种风险、不确定因素及假设的影响，本报告中基于对未来政策、经济及产业的主观假定 和判断而作出的前瞻性陈述，可能与实际结果存在差异。本报告期内涉及未来计划、发展战略等 前瞻性陈述，不构成公司对投资者的实质承诺，敬请投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 八、 是否存在违反规定决策程序对外提供 ...

珠免集团：上半年净亏损2.7亿元，上年同期亏损5.5亿元。 ...

Core Viewpoint - Zhuhai Zhimian Group (600185) has approved a foreign exchange hedging business with a total amount not exceeding 300 million RMB or equivalent foreign currency to mitigate foreign exchange market risks and enhance financial stability [1][2][4] Company Announcement Summary - The company's board of directors held a meeting on August 14, 2025, where they approved the proposal to conduct foreign exchange hedging business, with a total amount not exceeding 300 million RMB or equivalent foreign currency, valid for 12 months from the date of approval [1][4] - The company has established the "Foreign Exchange Hedging Business Management Measures" to standardize operations and effectively manage exchange rate fluctuation risks [1][4] Feasibility Analysis of Foreign Exchange Hedging Business - The company plans to engage with financial institutions qualified for foreign exchange trading to conduct hedging activities, including forward foreign exchange transactions, currency swaps, foreign exchange options, and interest rate swaps [2] - The hedging business will cover currencies relevant to the company's operations, such as JPY and USD, with funding sourced from the company's own funds or bank credit lines [2] - The company has implemented various risk control measures, including enhanced exchange rate research, selection of appropriate foreign exchange tools, and collaboration with large banks to ensure the business operates within a structured framework [2]

金融界消息 截至2025年8月14日收盘，珠免集团（600185）报收于5.7元，下跌1.89%，换手率1.61%， 成交量30.42万手，成交金额1.74亿元。 资金流向方面，今日主力资金净流出4489.82万元，占比成交额25.73%。其中，超大单净流出3236.68万 元、占成交额18.55%，大单净流出1253.14万元、占成交额7.18%，中单净流出流入1606.28万元、占成 交额9.21%，小单净流入2883.54万元、占成交额16.53%。 珠免集团最新一期业绩显示，截至2025一季报，公司营业总收入9.19亿元、同比减少58.54%，归属净利 润9095.65万元，同比减少537.22%，扣非净利润9239.01万元，同比增长32.83%，流动比率1.201、速动 比率0.466、资产负债率81.38%。 天眼查商业履历信息显示，珠海珠免集团股份有限公司，成立于1999年，位于珠海市，是一家以从事房 地产业为主的企业。企业注册资本188500.5795万人民币，实缴资本188500.5795万人民币。公司法定代 表人为李向东。 通过天眼查大数据分析，珠海珠免集团股份有限公司共对外投资了23家 ...

Group 1 - The company, Zhuhai Free Trade Zone Group, announced the approval of a foreign exchange hedging business with a limit not exceeding 300 million RMB or equivalent foreign currency [2] - The board meeting held on August 14, 2025, resulted in a unanimous decision to proceed with the hedging business, with 7 votes in favor and no votes against or abstentions [2] - The authorized period for the hedging activities is valid for 12 months from the date of board approval, and the limit can be reused within this timeframe [2]

证券日报网讯 8月14日晚间，珠免集团发布公告称，公司第八届董事会第三十七次会议审议通过了《关 于开展外汇套期保值业务的议案》等。 （文章来源：证券日报） ...

珠免集团（SH 600185，收盘价：5.7元）8月14日晚间发布公告称，公司第八届第三十七次董事会会议 于2025年8月14日以通讯表决方式召开。会议审议了《关于制定公司的议案》等文件。 （文章来源：每日经济新闻） 2024年1至12月份，珠免集团的营业收入构成为：免税商品销售占比46.27%，房地产占比42.27%，其他 占比10.04%，其他业务占比1.43%。 ...

一、董事会会议召开情况 证券代码：600185 股票简称：珠免集团 编号：临 2025-046 债券代码：250772 债券简称：23 格地 01 珠海珠免集团股份有限公司 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。 本议案在提交董事会前已经公司第八届董事会审计委员会第十四次会议审 议通过。 珠海珠免集团股份有限公司（以下简称"公司"）第八届董事会第三十七次 会议于 2025 年 8 月 14 日以通讯表决方式召开，会议通知于 2025 年 8 月 8 日以 电子邮件方式发出。本次会议由公司董事长李向东先生主持，会议应出席董事 7 人，实际参加表决董事 7 人。本次会议的召集、召开符合《中华人民共和国公司 法》及公司《章程》规定。 特此公告。 二、董事会会议审议情况 （一）审议通过《关于开展外汇套期保值业务的议案》； 表决情况：同意票 7 票，反对票 0 票，弃权票 0 票。 为有效规避和降低汇率波动风险，董事会同意公司及下属子公司开展外汇套 期保值业务，总额不超过 3 亿元人民币或等值外币，期限自董事会审议通过之日 ...

Summary of Key Points Core Viewpoint - The company plans to conduct foreign exchange hedging activities with a total limit not exceeding 300 million RMB or equivalent foreign currency to mitigate risks associated with foreign exchange market volatility and enhance financial stability [2][4]. Group 1: Overview of Hedging Activities - The purpose of the hedging activities is to effectively avoid risks from foreign exchange market fluctuations, improve the efficiency of foreign currency usage, and reduce financial costs [2][3]. - The total amount for the hedging activities is capped at 300 million RMB or equivalent foreign currency, applicable to the company and its subsidiaries combined [2][3]. - The types of transactions include forward foreign exchange settlement, currency swaps, foreign exchange options, and interest rate swaps, focusing solely on hedging actual foreign exchange risks [2][3]. Group 2: Transaction Details - The hedging activities will be limited to currencies relevant to the company's operations, such as Japanese Yen and US Dollar [3]. - The validity period for the hedging limit is 12 months from the date of board approval, with the limit being reusable within this timeframe [3]. - Transactions will be conducted with qualified financial institutions, including large state-owned banks and foreign banks, to ensure safety and reduce transaction risks [3]. Group 3: Approval Process - The proposal for the hedging activities was approved by the company's board of directors with unanimous support during the 37th meeting of the 8th board [4]. - The board has authorized the management team to handle specific operations related to the hedging activities, including margin payments and signing relevant legal documents [4]. Group 4: Risk Management and Impact - The core of the hedging strategy is to counteract exchange rate fluctuations, with potential risks including liquidity risk and counterparty default [5]. - The company has established a management framework for the hedging activities, detailing operational principles, approval authority, and risk management processes to control transaction risks [5]. - The anticipated hedging activities are expected to stabilize operations and enhance financial robustness without significantly adverse effects on the company's business [5][6].