证券代码：600603 证券简称：广汇物流 公告编号：2024-044 广汇物流股份有限公司关于重大资产重组业绩补偿 进展暨收到现金补偿款的公告 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。 一、本次业绩补偿概述 公司就本次重大资产重组与交易相关方签署了《广汇物流股份有 限公司与广汇能源股份有限公司之业绩承诺及补偿协议》（以下简称 "《业绩承诺及补偿协议》"）及《业绩承诺及补偿协议之补充协议》。 根据上述协议，广汇能源承诺铁路公司2022年度、2023年度和2024 年度扣除非经常性损益后归母净利润分别不低于15,932.26万元、 35,098.04万元和49,627.69万元。 二、本次业绩补偿进展情况 广汇物流股份有限公司（以下简称"公司"）于2022年5月30日 召开第十届董事会2022年第四次会议，审议通过了《关于<广汇物流 股份有限公司重大资产购买暨关联交易报告书（草案）>及其摘要的 议案》等相关议案；于2022年6月24日召开第十届董事会2022年第七 次会议、于2022年7月26日召开2022年第二次临时股东 ...

Financial Performance - The company's operating revenue for Q1 2024 reached ¥988,046,061.19, representing a year-on-year increase of 44.44%[5] - Net profit attributable to shareholders was ¥205,842,552.19, reflecting a growth of 20.65% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥174,378,369.65, which is an increase of 28.04% year-on-year[5] - Basic and diluted earnings per share were both ¥0.17, marking a 21.43% increase year-on-year[5] - The company reported an increase in energy logistics revenue as a key driver for the growth in operating income[12] - The company's logistics business achieved a revenue of RMB 988 million, representing a year-on-year growth of 44.44%[16] - Net profit attributable to shareholders reached RMB 206 million, up 20.65% year-on-year, while net profit excluding non-recurring gains and losses was RMB 174 million, a 28.04% increase[16] - The company reported a significant increase in cash and cash equivalents, contributing to improved liquidity[35] - The total comprehensive income for the current period is approximately 215.28 million, compared to 168.33 million in the previous period, marking an increase of around 28%[40] Assets and Liabilities - Total assets at the end of the reporting period were ¥24,080,296,630.94, up 2.43% from the previous year[5] - Total assets increased to ¥24,080,296,630.94 in Q1 2024 from ¥23,508,801,720.22 in Q1 2023, marking a growth of 2.4%[35] - Total liabilities amounted to ¥16,694,910,621.63 in Q1 2024, up from ¥16,346,542,350.06 in Q1 2023, indicating a 2.1% increase[35] - Current assets totaled ¥6,523,192,578.82, an increase from ¥6,154,443,034.31 in the previous year, representing a growth of 6.0%[35] - Non-current assets reached ¥17,557,104,052.12, compared to ¥17,354,358,685.91 in the previous year, showing an increase of 1.2%[35] - Shareholders' equity attributable to the parent company increased by 3.29% to ¥6,715,557,796.07 compared to the end of the previous year[5] Cash Flow - The net cash flow from operating activities decreased by 65.93%, amounting to ¥242,525,964.39, attributed to unsettled freight charges[12] - Cash flow from operating activities for Q1 2024 was RMB 242.53 million, down from RMB 711.77 million in Q1 2023[24] - The net cash generated from financing activities is approximately 568.22 million, compared to 425.66 million in the previous period, showing an increase of about 33.47%[44] - The cash and cash equivalents at the end of the period amount to approximately 861.65 million, up from 273.58 million, indicating a significant increase of about 214.36%[44] - The net cash flow from investment activities is negative at approximately -625.65 million, compared to -1,094.94 million in the previous period, showing an improvement of about 42.73%[44] Government Support and Investments - The company received a government subsidy of RMB 7 million, positively impacting cash flow and supporting the development of its energy logistics business[17] - Two wholly-owned subsidiaries were established with an investment of RMB 10 million each, focusing on domestic freight transportation and logistics services[19] Future Outlook - The newly opened Jiangnao Railway is expected to enhance overall transportation capacity and improve coal supply dynamics in the region[17] - The company plans to continue expanding its market presence and exploring potential mergers and acquisitions to drive future growth[39] Other Financial Metrics - The weighted average return on equity decreased by 0.05 percentage points to 3.12%[5] - Research and development expenses were reported at ¥0, indicating a potential focus on operational efficiency rather than new product development in this quarter[39] - The net profit from continuing operations is approximately 215.28 million, up from 168.33 million, indicating a growth of around 28%[40] - The net profit attributable to minority shareholders is approximately 9.43 million, compared to a loss of 2.28 million in the previous period, indicating a turnaround[40] - The company has not executed new accounting standards or interpretations that would affect the financial statements for the current year[44]

Financial Performance - The company achieved operating revenue of 4.932 billion RMB, a year-on-year increase of 132.05%[2] - Net profit attributable to shareholders reached 583 million RMB, up 276.43%, with the energy logistics segment contributing 354 million RMB, a growth of 67.66%[2] - The company's total assets amounted to 23.509 billion yuan, and the net assets attributable to shareholders were 6.502 billion yuan at the end of the reporting period[22] - The company reported a total net profit attributable to shareholders of ¥583,338,924.39 for the year 2023, with a parent company net profit of ¥926,417,908.16[50] - The company's operating revenue for the year reached approximately ¥4.93 billion, representing a 132.05% increase compared to the previous year[76] - Operating costs amounted to approximately ¥3.15 billion, an increase of 106.35% year-over-year[76] - The net cash flow from operating activities was approximately ¥1.12 billion, showing a decrease of 9.24% compared to the previous year[76] - The company reported a significant increase in sales expenses, totaling approximately ¥196.60 million, which is a 228.00% increase year-over-year[76] - The company corrected accounting errors from 2022, adjusting revenue by 2.896 billion yuan downwards and increasing 2023 revenue by 2.356 billion yuan[35] Energy Logistics Strategy - The company has established a comprehensive energy logistics strategy, utilizing the "One Channel, Four Bases" model to enhance logistics efficiency and service competitiveness[1] - The company is focused on enhancing the efficiency of coal transportation from Xinjiang to broader markets, leveraging its strategic location along the "Belt and Road" initiative[1] - The company is advancing the construction of four comprehensive energy logistics bases, which are expected to significantly enhance coal transportation efficiency and expand market share[10] - The company is actively expanding its energy logistics business, positioning itself as a key player in the "Belt and Road" initiative[22] - The company plans to enhance its railway logistics capabilities, focusing on the construction of dedicated railway lines to support coal transportation[28] - The company is committed to supporting the national energy supply security mission through the development of coal supply bases in Xinjiang[14] - The company has established four comprehensive energy logistics bases to efficiently convert Xinjiang's resource advantages nationwide[144] - The company plans to leverage its natural resource advantages in Xinjiang to enhance energy logistics services, focusing on coal transportation and supply chain optimization[144] Coal Transportation and Production - The "Jiang-Nao-Hong" railway has been fully connected, reducing coal transportation distance by 28% and transportation time by 30%[8] - The company has invested in the electrification and modernization of the Hong-Nao railway to increase transportation capacity and meet growing coal export demands[5] - The coal production capacity in Xinjiang is expected to reach over 460 million tons by the end of the 14th Five-Year Plan, with a coal output of over 400 million tons[26] - The company reported a significant increase in coal production in Xinjiang, contributing to national energy security, with coal production rising by nearly 200 million tons since 2020[43] - Xinjiang is identified as a new growth pole for coal supply, with significant potential for economic development through coal transportation[130] Real Estate and Market Conditions - The company’s real estate projects are nearing completion, but sales have been impacted by macroeconomic conditions, with a decline in sales volume compared to the previous year[13] - The real estate market saw a decline in investment, with a 9.6% year-on-year decrease in total real estate development investment, amounting to 11 trillion yuan[27] - The real estate sector is facing challenges, with a decline in national commodity housing sales area and ongoing cash flow pressures for real estate enterprises[148] - The company reported a significant increase in development costs for real estate sales, which reached ¥2,325,248,274.80, a 200.25% increase from ¥774,432,470.51 in the previous year[91] Operational Efficiency and Challenges - The increase in operating costs is primarily attributed to higher energy logistics service revenue and real estate sales[3] - The company is focusing on improving transportation efficiency and reducing logistics costs through multi-modal transport solutions[130] - The logistics business is significantly impacted by transportation pricing, which is a key factor affecting revenue[146] - The company faces operational risks related to safety and environmental concerns in its energy logistics business[147] - Future adjustments in national industrial policies could adversely affect the company's operations and sustainable development[145] Governance and Management - The company has established a governance structure that clearly defines the responsibilities and powers of its decision-making and supervisory bodies, enhancing risk prevention capabilities[171] - The company held several shareholder meetings in 2023, including a temporary meeting on April 3, where it approved a total financing amount for the year[180] - The company has revised its internal control systems and improved training for management personnel to enhance operational compliance awareness[171] - The company has implemented measures to ensure the independence of its operations from its controlling shareholders, despite some competitive overlaps in business[179] - The company has revised its information disclosure management system to ensure timely and accurate reporting to shareholders[176] Investments and Acquisitions - The company completed the acquisition of 92.7708% of Hongnao Railway on October 17, 2022, with a total payment of 1.462 billion RMB by the end of the reporting period[125] - The independent board of directors confirmed that the 2022 performance commitment for the major asset restructuring was fulfilled, while the 2023 commitment was not met[128] - The company plans to enhance integration of the acquired assets through strategic and resource alignment, organizational coordination, and management of corporate culture and human resources[125] Cash Flow and Financing - The net cash flow from operating activities decreased due to increased tax payments during the reporting period[3] - Cash flow from investing activities was negative at -¥2,418,782,876.19, an increase in investment spending due to the company's transition to the energy logistics industry[93] - Cash flow from financing activities increased to ¥1,756,072,302.75, up by ¥3,317,330,909.04 compared to the previous year, attributed to increased borrowing[93] Customer and Supplier Relations - The top five customers contributed approximately ¥146.06 million in sales, accounting for 29.61% of the total annual sales, with related party sales making up 28.80%[79] - The top five suppliers represented 36.74% of total annual purchases, with the largest supplier accounting for ¥30,479.53 million, or 11.58%[101]

会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 证券代码: 600603 证券简称:广汇物流 公告编号:2024-039 广汇物流股份有限公司关于召开 2023 年度暨 2024 年第一季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。 重要内容提示： 会议召开时间：2024 年 6 月 7 日(星期五)下午 16:00-17:00 会议方式：上证路演中心网络互动 投资者可于 2024 年 5 月 31 日(星期五)至 6 月 6 日(星期 四)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 ghwl@chinaghfz.com 进行提问。公司将在说明会上对 投资者普遍关注的问题进行回答。 广汇物流股份有限公司（以下简称"公司"）已于 2024 年 4 月 30 日发布公司 2023 年度报告及 2024 年第一季度报告。为便于广大 投资者更全面深入地了解公司2023 年度及2024年第一季度的经营成 果、财务状况、发 ...

证券代码：600603 证券简称：广汇物流 公告编号：2024-025 广汇物流股份有限公司 关于为全资子公司及全资孙公司提供担保的公告 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。 重要内容提示： 被担保人名称： 瓜州汇陇物流有限公司（以下简称"瓜州汇陇"），系广汇物流股 份有限公司（以下简称"公司"）全资子公司。新疆亚中物业管理服 务有限责任公司（以下简称"亚中物业"），系广汇物流股份有限公司 全资孙公司。 本次担保金额及已实际为其提供的担保余额：本次为瓜州汇陇 提供的担保金额为 1,000.00 万元人民币；本次为亚中物业提供的担 保金额为 1,000.00 万元人民币。截至本公告披露日，已实际为瓜州 汇陇提供的担保余额为 6,000.00 万元人民币（含本次），为亚中物业 提供的担保余额为 1,000.00 万元人民币（含本次）。 （二）本次担保事项履行的决策程序 为满足公司合并报表范围内子公司的经营及发展需要，经公司第 十一届董事会2024年第二次会议及公司2024年第二次临时股东大会 审议，通过《关于预计公司 2 ...

证券代码：600603 证券简称：广汇物流 公告编号：2024-024 单位：万元 | 序号 | 获得时间 | 补助类型 | 补助金额 | 占公司最近一期经审计净资产的比例（%） | | --- | --- | --- | --- | --- | | 1 | 2024/3/21 | 与资产相关 | 700.00 | 0.12 | 广汇物流股份有限公司关于获得政府补助的公告 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。 重要内容提示： 获得补助金额：700 万元 一、获得补助的基本情况 （一）获得补助概况 广汇物流股份有限公司（以下简称"公司"）全资子公司广汇宁 夏煤炭储配有限责任公司根据银川市交通运输局印发的《关于银川国 际公铁物流港供应链基础设施项目等 11 个项目纳入西安、银川国家 综合货运枢纽补链强链实施方案相关情况的说明》（银交函发〔2024〕 73 号），于 2024 年 3 月 21 日收到国家综合货运枢纽补链强链资金 700 万元，占公司最近一期经审计归属于上市公司股东净资产的 0.12%。 （二）补助具体情况 ...

证券代码：600603 证券简称：广汇物流 公告编号：2024-023 广汇物流股份有限公司 关于变更签字会计师的公告 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。 广汇物流股份有限公司（以下简称"公司"）分别于 2023 年 12 月 22 日、2024 年 1 月 8 日召开第十一届董事会 2023 年第四次会议 和 2024 年第一次临时股东大会，审议通过了《关于聘请 2023 年度审 计机构及审计费用标准的议案》，同意续聘大信会计师事务所（特殊 普通合伙）（以下简称"大信会计师事务所"）担任公司 2023 年度 审计机构。具体情况详见公司于 2023 年 12 月 23 日在上海证券交易 所网站（www.sse.com.cn）披露的《广汇物流股份有限公司关于聘请 2023 年度审计机构及审计费用标准的公告》（公告编号：2023-108）。 2024 年 3 月 18 日，公司收到大信会计师事务所出具的《关于变 更广汇物流 2023 年度年报审计项目签字注册会计师的告知函》，现 将相关情况公告如下： 一、变更签字会计师 ...

本次担保是否有反担保：无 证券代码：600603 证券简称：广汇物流 公告编号：2024-022 广汇物流股份有限公司 关于为控股子公司及全资子公司提供担保的公告 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。 重要内容提示： 被担保人名称：新疆红淖三铁路有限公司（以下简称"铁路公 司"），系广汇物流股份有限公司（以下简称"公司"）控股子公司。 新疆亚中物流商务网络有限责任公司广汇美居物流园（以下简称"美 居物流园"），系广汇物流股份有限公司（以下简称"公司"）全资 子公司新疆亚中物流商务网络有限责任公司（以下简称"亚中物流"） 分公司。 本次担保金额及已实际为其提供的担保余额：本次为铁路公司 提供的担保金额为 10,000.00 万元人民币；本次为美居物流园提供的 担保金额为 1,000.00 万元人民币。截至本公告披露日，已实际为铁 路公司提供的担保余额为 336,802.48 万元人民币（含本次），为美 居物流园提供的担保余额为 1,000.00 万元人民币（含本次）。 对外担保逾期的累计数量：无 特别风险提示：截至本公 ...

1）宏观层面看，疆煤保供增产外运是大势所趋。我国煤炭供给依然偏紧， 中长期供需差仍存，未来从区域结构上增量产能有望逐步西移至新疆地区。 而从配套的物流端，重要铁路线扩容改造的推进叠加国铁集团车皮供给的边 际改善，有望切实保障疆煤外运通道及运输能力。展望未来，疆煤的重点终 端消费地甘肃、宁夏、四川、重庆等地供需缺口或将延续扩大趋势，疆煤需 求也有望维持坚挺。 我们预计公司 2023-2025 年归母净利润分别 6.65 亿元、13.09 亿元、20.05 亿元，对应 PE 分别 13 倍、7 倍、4 倍。考虑到公司未来价值的重估主要由 能源物流业务发展驱动，但与此同时体内的传统商贸物流、商品房资产也具 有存量价值，我们测算分部估值下公司 2024 年目标市值 193 亿元。我们认 为公司作为疆煤外运铁路龙头，值得重点关注疆煤外运大趋势下"铁路+基 地"战略驱动的价值空间兑现，维持"买入"评级。 | --- | --- | --- | --- | --- | --- | --- | |-------|--------------------------------------------------------- ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook on its stock performance [4][17]. Core Views - The company is expected to benefit from the high growth potential of its energy logistics business, with projected net profits of 665 million yuan, 1.309 billion yuan, and 2.005 billion yuan for 2023-2025, corresponding to P/E ratios of 14x, 7x, and 5x respectively [4][3]. - The report highlights the strategic importance of the newly operational railway, which is anticipated to gradually increase cargo volumes, benefiting the company's logistics operations [4][18]. Summary by Sections Financial Projections - The company is projected to achieve net profits of 6.65 billion yuan in 2023, 13.09 billion yuan in 2024, and 20.05 billion yuan in 2025, with a target market value of 19.3 billion yuan for 2024 [4][20]. - The report anticipates a significant increase in related transactions, estimating a 201% year-on-year growth in service fees from 15.95 billion yuan in 2023 to 48 billion yuan in 2024 [7][4]. Market Dynamics - The report notes that the adjustment in transportation structure, particularly the shift from road to rail ("public to rail"), is expected to enhance the logistics efficiency and reduce costs, which is crucial for the coal transportation sector [17][18]. - The company is positioned as a leader in the transportation of coal from Xinjiang, with the total coal transportation volume expected to exceed 100 million tons in 2023, including a 9.5% year-on-year increase in railway coal transportation [17][18]. Operational Insights - The operational commencement of the new railway line is expected to provide a steady increase in cargo volumes, with the company’s logistics services projected to grow in line with the rising demand for coal in key consumption areas [4][18]. - The report emphasizes the importance of the company's logistics strategy, which is aligned with national policies aimed at optimizing transportation structures and enhancing the efficiency of coal supply chains [17][18].