Investment Rating - The report maintains a positive outlook on the shipping sector, recommending companies such as China Shipbuilding, Sumec, and Yangtze River Shipbuilding [1][2]. Core Insights - The shipping assets are resonating with the commodity market, with signs of stabilization in ship prices. The report highlights the potential for left-side layout opportunities as the Chinese shipbuilding industry begins to outperform its Japanese and Korean counterparts [1][2]. - The report emphasizes the resilience of domestic demand in the express delivery sector, suggesting that leading companies may optimize their market share through pricing strategies [1][2]. - The aviation sector is expected to see a recovery in demand as supply chain constraints ease, with recommendations for airlines such as China Eastern Airlines and Spring Airlines [1][2]. Summary by Sections 1. Market Performance - The transportation index increased by 0.76%, underperforming the CSI 300 index by 0.05 percentage points. The raw material supply chain services saw the largest increase at 4.22%, while the railway transportation sector experienced a decline of 0.50% [3][10]. - The Baltic Dry Index (BDI) rose by 15.81% to 1,663 points, indicating strong performance across various vessel types [3][10]. 2. Shipping Sector Insights - VLCC rates increased by 10% to $26,813 per day, with Middle East routes rising by 16%. The report anticipates continued rate recovery due to increased cargo availability [1][2]. - The report notes that the Capesize vessel rates are rebounding, driven by strong demand for iron ore and coal, despite seasonal expectations [1][2]. 3. Express Delivery Sector - The express delivery industry is maintaining high growth rates, with recommendations for companies like SF Express and JD Logistics. The report suggests that the upcoming policies may optimize logistics costs, benefiting leading firms [1][2]. 4. Aviation Sector - The aviation market is entering a peak season, with limited supply growth and natural increases in passenger volume expected to support airline revenues. Recommendations include major airlines such as China Southern Airlines and Cathay Pacific [1][2]. 5. High Dividend Stocks - The report lists high dividend stocks in the transportation sector, including Bohai Ferry with a TTM dividend yield of 8.11% and Daqin Railway with a yield of 3.97% [21].

Core Viewpoint - The article emphasizes the importance of quality control in school uniforms, highlighting the shift in consumer demand towards comfort, safety, and functionality in school attire, with Jiangsu Sumida Eaton Jide emerging as a trusted brand in this sector [1][2]. Group 1: Company Overview - Jiangsu Sumida Eaton Jide has established itself as a leading provider of school uniforms, serving nearly 4,000 primary and secondary schools across China, with a projected revenue of 1.289 billion yuan in 2024 and an annual delivery of approximately 14 million pieces [1]. - The company is committed to transforming the school uniform industry in China, focusing on quality management to provide comfortable, safe, and aesthetically pleasing uniforms for students [1][2]. Group 2: Quality Control Measures - Eaton Jide implements a five-tier quality inspection system that includes supplier selection, sampling, production, warehousing, and shipping, and collaborates with international third-party testing organizations to ensure compliance with national standards [3]. - The company prioritizes the use of environmentally friendly dyes sourced from Switzerland and Germany, ensuring that harmful substances are eliminated from the production process [2][3]. Group 3: Technological Innovations - The company has introduced advanced technologies to enhance the functionality and safety of school uniforms, including the use of wrinkle-resistant and washable materials, as well as reflective materials for improved visibility in low-light conditions [4]. - Eaton Jide has developed a UPF50+ ice sensation sun protection garment for summer, utilizing cooling fibers and breathable designs to effectively block UV rays [4]. Group 4: Logistics and Supply Chain Management - The company's intelligent logistics center can process up to 150,000 orders daily and has a storage capacity of 8.5 million pieces, significantly improving delivery efficiency [5]. - Eaton Jide's self-developed SCM supply chain management platform facilitates digital quality control and enhances transparency across the supply chain, optimizing costs and ensuring stable quality [5]. Group 5: Commitment to Transparency - The company has established a transparent procurement process that involves parents in decision-making, promoting a system where those who fund the uniforms also have a say in the purchasing process [5][6]. - Eaton Jide's approach to quality control encompasses every detail of the production process, reflecting a deep understanding of the importance of quality in education [6].

Market Overview - The Shanghai Composite Index rose by 1.15% on June 24, with 29 out of 31 sectors experiencing gains, led by the power equipment and non-bank financial sectors, which increased by 2.85% and 2.68% respectively [1] - The retail trade sector ranked third in terms of gains for the day [1] - The oil and petrochemical and coal sectors were the biggest losers, declining by 2.10% and 0.22% respectively [1] Capital Flow - The net inflow of capital in the two markets reached 17.211 billion yuan, with 22 sectors seeing net inflows [1] - The non-bank financial sector had the highest net inflow of 4.748 billion yuan, followed by the power equipment sector with a net inflow of 4.159 billion yuan [1] Retail Sector Performance - The retail trade sector increased by 2.64% with a net inflow of 616 million yuan, where 94 out of 99 stocks in the sector rose, including one stock hitting the daily limit [2] - Among the stocks, Cuiwei Co. led with a net inflow of 207 million yuan, followed by Sumeida and Xiaoshangcheng with inflows of 146 million yuan and 71.276 million yuan respectively [2] - Seven stocks in the retail sector experienced net outflows exceeding 10 million yuan, with the largest outflows from Yintai Co., Liren Lizhuang, and Ruoyu Chen, amounting to 52.933 million yuan, 13.706 million yuan, and 12.806 million yuan respectively [2]

证券代码：600710 证券简称：苏美达 公告编号：2025-026 苏美达股份有限公司 关于召开2024年度暨2025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：2025年6月27日（星期五）15:00-16:30 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 投资者可于2025年6月20日（星期五）至6月26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 tzz@sumec.com.cn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。 苏美达股份有限公司（以下简称"公司"）已分别于2025年4月12日、4月 23日发布公司2024年度报告、2025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 ...

Core Viewpoint - The company has developed a "Quality Improvement, Efficiency Enhancement, and Return to Shareholders" action plan for 2025, aiming to enhance its operational quality and investment value while fulfilling its responsibilities as a listed company [1]. Group 1: Focus on Core Business and Efficiency Improvement - In 2024, the company aims to achieve an operating revenue of 117.17 billion yuan, with a net profit attributable to shareholders of 1.148 billion yuan, reflecting a year-on-year growth of 11.69% and a three-year compound growth rate of 14.4% [2]. - The company will continue to focus on high-quality sustainable development in 2025, promoting effective quality improvement and reasonable growth in volume [2]. Group 2: Innovation-Driven Development - The company is committed to aligning with national strategies, enhancing traditional industries through new technologies, and accelerating the development of new productive forces [5][6]. - In 2024, the company will focus on technological innovation, digital transformation, and green development to enhance core competitiveness [5]. Group 3: Corporate Governance Enhancement - The company will optimize its governance structure and improve governance effectiveness, having been recognized for its governance practices in 2024 [9]. - In 2025, the company will continue to strengthen the leadership of the Party and improve the modern enterprise system with Chinese characteristics [9]. Group 4: Investor Returns and Value Sharing - The company has distributed a total of 2.305 billion yuan in dividends since its restructuring in 2016, with a commitment to distribute at least 40% of the net profit attributable to shareholders in cash annually [17][19]. - The company will actively manage its market value and enhance cash dividends to ensure sustainable profit distribution [18][19]. Group 5: Investor Communication and Value Recognition - The company emphasizes investor relations management and has received an A-level rating for its information disclosure practices in 2024 [20]. - In 2025, the company will enhance communication with investors through various channels and actively respond to investor inquiries [22].

苏美达股份有限公司 证券代码：600710 证券简称：苏美达 公告编号：2025-025 苏美达股份有限公司 2025年"提质增效重回报"行动方案 （一）聚焦重点提效率 增强核心功能。围绕"中国装备、中国品牌'走出去'和供应链稳定畅通的 支撑力量"的核心功能定位，坚定服务制造强国、贸易强国、美丽中国等国家重 大战略，为加快新型工业化、构建新发展格局和共建"一带一路"贡献苏美达力 量。 聚焦核心竞争力。坚持专业化经营，做优做强主责主业，在现有行业做深做 精做透，形成竞争优势。坚持"优客户"战略，聚焦主流客户，强化与主流渠道、 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。 2 为深入贯彻落实党的二十大、二十届三中全会和中央经济工作会议精神，认 真落实国务院国资委《关于进一步提高上市公司质量的意见》要求，响应上海证 券交易所《关于开展沪市公司"提质增效重回报"专项行动的倡议》，积极践行 以"投资者为本"的发展理念，推动苏美达股份有限公司（以下简称"公司"） 高质量发展和投资价值提升，切实履行上市公司的责任和义务，维护全体股东利 益 ...

证券代码：600710证券简称：苏美达（600710） 公告编号：2025-024 苏美达股份有限公司 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法律责任。 重要内容提示： ? 每股分配比例 ? 相关日期 股份类别股权登记日最后交易日 除权(息)日现金红利发放日 A股2025/6/10- 2025/6/112025/6/11 ? 差异化分红送转：否 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025年5月13日的2024年年度股东大会审议通过。 二、分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公 司上海分公司(以下简称"中国结算上海分公司")登记在册的本公司全体股东。 本次利润分配以方案实施前的公司总股本1,306,749,434股为基数，每股派发 A股每股现金红利0.369元 现金红利0.369元(含税)，共计派发现金红利482,190,541.146元。 三、相关日期 股份类别股权登记日 最后交易日除权(息)日现金红利发放日 A股2025/6/10 - 2025/6/112025 ...

2024年年度权益分派实施公告 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。 差异化分红送转： 否 重要内容提示： 一、 通过分配方案的股东大会届次和日期 证券代码：600710 证券简称：苏美达 公告编号：2025-024 每股分配比例 苏美达股份有限公司 A 股每股现金红利0.369元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/10 | － | 2025/6/11 | 2025/6/11 | 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公 司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本1,306,749,434股为基数，每股派发 现金红利0.369元（含税），共计派发现金红利482,190,541.146元。 ...

Core Insights - The high-pressure cleaning machine market in China is experiencing steady growth, with the market size projected to increase from 1.937 billion yuan in 2018 to 3.02 billion yuan in 2024, reflecting a compound annual growth rate (CAGR) of 7.68% [1][13] - The demand for high-pressure cleaning machines is diversifying due to rising living standards and changing consumer perceptions, which will further expand the market [1][13] - The industry is characterized by a complete supply chain, including upstream raw material supply, midstream manufacturing, and downstream applications across various sectors [7] Industry Overview - High-pressure cleaning machines utilize a power-driven high-pressure pump to generate high-pressure water for cleaning surfaces, making them an efficient and environmentally friendly cleaning solution [3] - The machines can be categorized based on the driving engine (electric, gasoline, diesel), usage (household, commercial, industrial), and water temperature (cold, hot, or both) [3] Industry Development History - The Chinese high-pressure cleaning machine industry has evolved through four stages: initial imitation of imported equipment, expansion with domestic innovation, technological upgrades, and a focus on high-quality development driven by carbon neutrality goals [5] Industry Chain - The industry chain includes upstream raw materials (plastics, steel, aluminum alloys), midstream manufacturing, and downstream applications in household, automotive, construction, food processing, and municipal sectors [7] Market Trends - The global high-pressure cleaning machine market is projected to reach approximately 3.195 billion yuan by 2024, driven by industrialization and urbanization [12] - The application of high-pressure cleaning machines is expanding into various sectors, including vehicle washing, building maintenance, and municipal cleaning, due to their efficiency and environmental benefits [24] Competitive Landscape - The industry is fragmented, with domestic manufacturers transitioning from OEM to ODM and OBM models, enhancing their competitive edge [16][18] - Key players include Greenfield Machinery, Zhejiang Danong, and others, with Greenfield's revenue from high-pressure cleaning machines expected to reach 1.085 billion yuan in 2024, a 70.06% increase [19][21] Future Development Trends - The industry is expected to see continued technological innovation, with a focus on high-performance materials and smart manufacturing processes [23] - The trend towards specialization, diversification, integration, and intelligence in high-pressure cleaning machines will cater to specific market needs and enhance user experience [25]

Group 1 - BYD reported August sales of 174,915 new energy vehicles, a year-on-year increase of 184.84% [1] - Cumulative sales from January to August reached 978,795 units, representing a year-on-year growth of 267.31% [1] - The company sold 5,092 new energy passenger vehicles overseas in August [1] Group 2 - Zhongke Electric's subsidiary plans to establish a joint venture with Chongqing Fudi for the production of anode materials, with a registered capital of 1 billion RMB [2] - Zhongke Electric's subsidiary will contribute 650 million RMB, while Chongqing Fudi will contribute 350 million RMB [2] Group 3 - Yuyuan Group intends to transfer 13% of its shares in Jinhuijiu for approximately 1.937 billion RMB, reducing its stake to 25% [3] - The company plans to further reduce its holdings by more than 5% within the next six months [3] Group 4 - Lizhu Group's recombinant COVID-19 fusion protein vaccine has been included in the emergency use for sequential booster immunization [4] Group 5 - Guanghui Energy plans to repurchase shares worth between 800 million and 1 billion RMB to support employee stock ownership plans [5] Group 6 - Cambrian has launched four cloud-based intelligent chips, although mass sales will require a longer time frame and initial technical service investments [7] Group 7 - LePu Medical has received approval from the China Securities Regulatory Commission for the issuance of Global Depositary Receipts (GDRs) and listing on the Swiss Stock Exchange [9] - The GDR issuance will correspond to no more than 180,458,875 new A-shares [9] Group 8 - Fushi Holdings' subsidiary has entered into an exclusive advertising agency cooperation with the Central Radio and Television Station's automotive channel for three years [10] Group 9 - Guangzhou Port's container throughput in August was 1.981 million TEUs, a year-on-year increase of 2.4% [11] - The total cargo throughput for August was 44.788 million tons, a decrease of 0.6% [11] Group 10 - Ningbo Port expects to complete a container throughput of 3.58 million TEUs in August, a year-on-year increase of 10.2% [12] - The total cargo throughput is projected to decline by 3.0% [12] Group 11 - Ming Tai Aluminum reported a 7% year-on-year decrease in aluminum plate and strip sales in August, while aluminum profile sales increased by 47% [13] Group 12 - Electric Power Investment plans to invest in multiple wind and solar projects, with total static investments of 1.585 billion RMB for wind and 538 million RMB for solar [14] Group 13 - Northeast Pharmaceutical has signed a cooperation agreement with MedAbome for the development of the MAb11-22.1 antibody project [19] Group 14 - New Five Feng plans to acquire equity in Tianxin Seed Industry and several other companies for a total price of approximately 2.208 billion RMB [26] Group 15 - Sumeida's subsidiary plans to transfer 100% equity of eight photovoltaic power station project companies, with an estimated transaction value of 657 million RMB [27] Group 16 - *ST Tongzhou intends to acquire 51% equity in Tongtaiwei, fulfilling the capital contribution obligation of 10.2 million RMB [29] Group 17 - Tianyin Holdings' subsidiary plans to invest 120 million RMB in Xundong Xintong to acquire 40% equity [30] Group 18 - Hainan Haiyao plans to publicly transfer 43% equity in Shanghai Lishengte to attract new investors [31] Group 19 - New Asia Process plans to transfer 7.76% of its shares to Xiangcai New Materials at a price of 5.274 RMB per share [32] Group 20 - Lanwei Medical plans to raise no more than 664 million RMB through a private placement for provincial laboratory construction projects [34] Group 21 - Lida New Materials plans to issue convertible bonds to raise no more than 300 million RMB for a new aluminum material project [35] Group 22 - Gekewei has successfully launched its 12-inch CIS integrated circuit project, achieving over 95% yield [51] Group 23 - Baijin Medical's tricuspid valve ring product has received registration approval [52] Group 24 - Shanghai Pharmaceuticals has received approval to initiate Phase I clinical trials for a recombinant anti-CD20 humanized monoclonal antibody [53] Group 25 - Junda Co. has increased the production capacity of its solar cell production base project from 8GW to 10GW [54]