证券代码：600710 证券简称：苏美达 公告编号：2025-004 苏美达股份有限公司 关于变更签字注册会计师的公告 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。 苏美达股份有限公司（以下简称"公司"）于2024年4月11日召开第十届董 事会第五次会议，审议通过了《关于续聘会计师事务所的议案》，同意继续聘任 天职国际会计师事务所（特殊普通合伙）（以下简称"天职国际"）为公司2024 年度财务审计和内控审计机构。具体内容详见公司于2024年4月13日在上海证券 交易所网站（www.sse.com.cn）披露的《关于续聘会计师事务所的公告》（公告 编号：2024-016）。上述事项于2024年5月10日经公司2023年年度股东大会审议 通过。 2025年3月7日，公司收到天职国际发来的《关于变更签字注册会计师的承诺 函》。现将相关情况公告如下： 一、签字注册会计师变更情况 杨泓，2023 年成为注册会计师，2019 年开始从事上市公司审计，2023 年开 始在天职国际执业，2024 年开始为公司提供审计服务，近三年签署上市公司 ...

Summary of Sumeida's Conference Call Company Overview - Sumeida is a subsidiary of Guosheng Group, established in 1978, and has shown strong performance in recent years, providing over 15% annual returns to investors with a dividend yield exceeding 4.6% [3][4][20]. Industry and Business Segments - Sumeida operates in various sectors including supply chain, bulk commodities, textile and apparel, outdoor power tools, diesel generator sets, and shipbuilding [2][7]. - The company has a diversified business structure that enhances its resilience against market fluctuations, ensuring steady growth even during downturns [2][5]. Key Financial Performance - The shipbuilding and shipping segment has shown a cyclical recovery since 2021, benefiting from rising ship prices and effective steel cost control, with 82 orders currently in hand and production scheduled until the end of 2028 [2][10][15]. - Diesel generator revenue doubled to over 1.1 billion yuan in 2023, with a projected single-digit revenue growth and double-digit profit growth in 2024, supported by a 60% increase in orders year-over-year [2][31]. - The overall revenue growth for Sumeida is projected to be in the double digits, with significant contributions from various segments [8][12]. Strategic Initiatives - Sumeida is committed to R&D and innovation, focusing on digital and green transformations, and has adjusted its product offerings to include high-margin items like yoga apparel and ski clothing [2][19]. - The company has made significant progress in brand building and digital marketing, promoting its school uniform brands through platforms like Tmall and Xiaohongshu [3][23]. Market Position and Competitive Advantages - Sumeida's unique employee stock ownership plan enhances cohesion and competitiveness, distinguishing it from traditional retail companies [3][6]. - The company has a strong supply chain management capability, evidenced by its partnerships with international firms and its ability to secure significant orders [43][44]. Future Outlook - Sumeida anticipates continued strong growth, particularly in the shipbuilding sector, and plans to expand its market share in bulk commodities, textiles, and environmental protection [12][39]. - The company is well-positioned to leverage its long operational history and strong financial health to navigate market challenges and capitalize on opportunities [20][40]. Additional Insights - Sumeida's performance in the photovoltaic sector has been notable, being the only company in the industry not to incur losses, thanks to its commitment to green development [24]. - The company has a robust cash position, with cash and cash equivalents reaching 12 billion yuan, supporting its growth initiatives [21]. Conclusion - Sumeida's diversified business model, strong financial performance, commitment to innovation, and strategic market positioning provide a solid foundation for future growth and shareholder returns [27][29].

Summary of Sumeida's Conference Call Company Overview - Sumeida reported approximately 117.2 billion yuan in revenue for 2023, with a narrowing decline. The contributions to profit from various segments were approximately 1.2 billion from supply chain, 629 million from environmental protection, 200 million from advanced manufacturing, 409 million from shipbuilding and shipping, and 1 billion from consumer goods, indicating strong support from diversified businesses [2][4][5] Financial Performance - Over the past 23 years, Sumeida's total profit has not declined, with a compound annual growth rate exceeding 19%. The return on equity (ROE) reached 15.75%, ranking in the top 10 among listed companies. The company is also recognized as a high-dividend enterprise, demonstrating stable performance and high returns, indicating long-term investment value [2][6][7] - The company holds over 12 billion yuan in cash and cash equivalents, exceeding its market value, showcasing a robust financial position and providing a safety margin for investors, highlighting its undervalued status [2][8][9] Business Segments - **Shipbuilding and Shipping**: Sumeida has optimized its dry bulk segment, holding 85 ship orders with production scheduled until the second half of 2028, providing certainty for the company. A significant increase in shipping profits is expected in 2024, with the segment valued at approximately 7 to 8 billion yuan [2][10][28] - **Diesel Generator Business**: Benefiting from data center projects, revenue for the first three quarters of 2024 is expected to grow over 20% year-on-year, with substantial profit growth driven by increased demand in mining applications [2][12][13][18] - **Textile and Apparel**: Despite the industry downturn, this segment contributed over 1 billion yuan in profit in 2023, with expectations for continued double-digit growth in 2024, maintaining a stable contribution of over 1 billion yuan annually [2][14][5] - **Environmental Protection**: The segment is projected to maintain profits exceeding 600 million yuan by the end of 2024, benefiting from light-asset downstream power station construction, effectively avoiding component export pressures [2][15] Market Dynamics - The market is shifting from high-speed growth to more stable investment logic, with dividend yields reaching 4%-5%. This reflects a mature and healthy market development, although short-term policies may cause volatility in certain sectors [2][11] - Sumeida's order backlog has increased by 60% year-on-year, totaling around 1 billion yuan, with confidence in future orders and new contracts priced to cover costs and enhance profit margins [2][3][19] Investment Highlights - Sumeida is characterized as a well-governed central enterprise with significant advantages and a market-oriented mechanism that effectively motivates employees. The company supports the development of private enterprises and has a unique incentive system, leading to high efficiency despite smaller scale [2][7] - The company has consistently increased its dividend payouts, with total dividends rising from 300 million yuan in 2019 to 430 million yuan in 2023, reflecting a commitment to shareholder returns [2][16][25] Future Outlook - Sumeida plans to focus on three main areas: new energy, environmental protection, and modern services, with ongoing efforts in digitalization, technological research, and green initiatives to ensure stable growth and returns [2][17] - The company is exploring new business expansions and equity incentive mechanisms to enhance scale and market value, while maintaining a strong emphasis on shareholder returns [2][25] Additional Insights - Sumeida's international trade, particularly with the U.S., accounts for about 9% of its total annual import and export volume of 12.7 billion USD. The company has effectively managed the impact of tariffs through strong overseas supply chain capabilities [2][26] - The company has a significant presence in the Japanese market and is involved in projects like Microsoft and JD.com, leveraging its core competencies in customized research and development [2][27]

Company and Industry Summary Company Overview - The company discussed is 苏美达 (Sumida), which operates in various sectors including supply chain management, shipbuilding, and textile industries. The company has demonstrated resilience and growth despite challenging market conditions [1][2]. Key Points and Arguments - **Business Structure and Growth**: 苏美达 has a diversified business structure that allows it to mitigate risks associated with single markets. The supply chain segment contributes approximately 80% of total revenue and over 60% of total profit [2][3]. - **Profit Contribution**: The profit contribution from the supply chain has increased significantly, with total profits rising from 1.6 billion in 2021 to 2.5 billion in 2023, reflecting a year-on-year growth of nearly 17% [3]. - **Revenue Growth**: The revenue from the supply chain segment reached approximately 34.8 billion in 2023, marking an 11% increase year-on-year [3]. - **Shipbuilding Sector Performance**: In 2023, the shipbuilding segment contributed around 409 million in total profit, primarily driven by shipping and other sales rather than shipbuilding itself [5]. - **Order Fulfillment and Production**: The company delivered 19 ships in 2023, with a notable increase in the number of foreign and domestic trade vessels. The shipbuilding process has a long lead time of about 22 months [6][7]. - **Product Diversification**: 苏美达 is expanding its product offerings beyond traditional cargo ships to include oil tankers, indicating a strategic shift to meet changing market demands [8]. - **Future Orders**: The company secured 44 ship orders for 2024, exceeding its initial target of 32, reflecting a robust demand in the shipbuilding industry [9]. Additional Important Information - **Market Resilience**: The company has shown a unique operational resilience, which is crucial for maintaining growth in a volatile market environment [1]. - **Strategic Adjustments**: 苏美达 is actively adjusting its product structure to better respond to market fluctuations, ensuring a balanced approach to its business operations [7]. - **Long-term Partnerships**: The company has established long-term relationships with clients, which has facilitated the acquisition of significant orders, such as the four 50,000-ton product cruise ships [8].

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Insights - The company's 2024 performance report shows total revenue of 117.28 billion yuan, a year-on-year decrease of 4.7%, while net profit attributable to shareholders is 1.13 billion yuan, an increase of 10.1% [8] - Revenue decline is narrowing, with a positive turnaround expected in Q4 2024, supported by economic stimulus policies and a new interest rate cycle initiated by the Federal Reserve [8] - The shipbuilding segment is showing profit release, with 42 new orders for 2024, and the delivery of high-priced vessels is expected to enhance profit margins [8] - The report confirms the earnings forecast for 2025 and 2026, projecting net profits of 1.26 billion yuan and 1.40 billion yuan respectively, with corresponding P/E ratios of 9 [8] Financial Data and Profit Forecast - Total revenue is projected to grow from 122.98 billion yuan in 2023 to 151.84 billion yuan in 2025, reflecting a compound annual growth rate [6] - Net profit attributable to shareholders is expected to increase from 1.03 billion yuan in 2023 to 1.26 billion yuan in 2025, indicating a steady growth trajectory [6] - The gross profit margin is forecasted to stabilize around 5.1% for 2025 and 2026, while the return on equity (ROE) is expected to remain around 14.6% [6]

北京市金杜（南京）律师事务所 关于苏美达股份有限公司 2025 年第一次临时股东大会 之法律意见书 致：苏美达股份有限公司 北京市金杜（南京）律师事务所（以下简称本所）接受苏美达股份有限公 司（以下简称公司）委托，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》）、中国证券监督 管理委员会（以下简称中国证监会）《上市公司股东大会规则（2022 年修订）》 （以下简称《股东大会规则》）等中华人民共和国境内（以下简称中国境内， 为本法律意见书之目的，不包括中国香港特别行政区、中国澳门特别行政区和 中国台湾地区）现行有效的法律、行政法规、规章和规范性文件和现行有效的 公司章程有关规定，指派律师出席了公司于 2025 年 1 月 17 日召开的 2025 年 第一次临时股东大会（以下简称本次股东大会），并就本次股东大会相关事项 出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限 于： 1.经公司 2023 年年度股东大会审议通过的《苏美达股份有限公司章程》（以 下简称《公司章程》）； 2.公司 2024 年 12 月 19 日刊登于上 ...

证券代码：600710 证券简称：苏美达 公告编号：2025-003 2025 年第一次临时股东大会决议公告 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 1 月 17 日 (二)股东大会召开的地点：公司会议室 (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： 苏美达股份有限公司 | 1.出席会议的股东和代理人人数 | 262 | | --- | --- | | 2.出席会议的股东所持有表决权的股份总数（股） | 239,585,723 | | 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（%） | 18.3344 | (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，公司董事长杨永清先生主持。本次股东大 会的召集、召开及表决方式符合《中华人民共和国公司法》等法律、法规及规范 性文件以及《公司章程》的有关规定。 (五)公司董事、 ...

Financial Performance - In 2024, the company achieved total operating revenue of RMB 117.28 billion, a decrease of 4.67% year-on-year[3] - The net profit attributable to shareholders of the listed company was RMB 11.31 billion, an increase of 10.05% compared to the previous year[3] - The company reported a basic earnings per share of RMB 0.87, reflecting a growth of 10.13%[3] - The total assets at the end of the reporting period were RMB 547.92 billion, an increase of 3.87% from the beginning of the period[3] - The equity attributable to shareholders of the listed company increased to RMB 74.73 billion, up 7.30%[3] Trade and Export - The total import and export volume reached USD 12.93 billion, with exports of USD 5.48 billion growing by 12% year-on-year[5] Business Operations - The company has 85 shipbuilding orders on hand, with production scheduled until 2028, indicating strong growth momentum[5] - The textile and apparel business saw profits increase by over 10% year-on-year, focusing on digitalization and green development[5] Strategic Initiatives - The company completed the acquisition of Shanghai Jirun Real Estate Co., Ltd., which was included in the consolidated financial statements[4] - The company emphasizes a strategy of "double circulation development" and "green development" to enhance its market position[5]

苏美达股份有限公司 2025 年第一次临时股东大会 会议材料 2025 年 1 月 2025 年第一次临时股东大会议程 议 程： 时 间：2025 年 1 月 17 日 15 点 00 分 地 点：南京市长江路 198 号苏美达大厦会议室 根据苏美达股份有限公司（以下简称"公司"）实际经 营需要，为确保公司业务持续稳健发展，提高经营决策效率， 公司拟申请与下列关联人之间的日常关联交易。 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 公司于 2024 年 12 月 17 日召开的第十届董事会第十二 次会议审议通过了《关于公司 2025 年日常关联交易预计的 议案》。根据公司实际经营需要，为提高决策效率，便利日 常经营业务开展与执行，董事会同意公司 2025 年日常关联 交易额度为人民币 557,238.73 万元，相同类别的交易可在 同一控制下的关联人之间调剂使用。 就上述事项，关联董事杨永清先生、金永传先生、王玉 琦先生、周亚民先生及刘耀武先生均已回避表决，非关联董 事一致同意该议案。 （二）前次日常关联交易的预计和执行情况 单位：万元 一、主持人宣布会议开幕 二、相关人员介绍议案，与会股东审议 ...

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：2024-053 苏美达股份有限公司 本次质押股份融资资金用于股东自身生产经营，未被用作重大资产重组业绩 补偿等事项的担保或其他保障用途。 1 / 2 关于控股股东一致行动人股份质押公告 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： 国机重工集团常林有限公司（以下简称"常林公司"）持有苏美达股份 有限公司（以下简称"公司"）股份 20,000,000 股，占公司总股本 1.53%，为 公司控股股东中国机械工业集团有限公司（以下简称"国机集团"）一致行动人。 本次质押后，常林公司质押股份数量为 10,000,000 股，约占其持股数量的 50.00%。 本次质押后，公司控股股东国机集团及一致行动人累计质押公司股份 17,152,910 股，占国机集团及一致行动人持股比例的 2.75%，占公司总股本的 1.31%。 公司于 2024 年 12 月 26 日接到公司控股股东一致行动人常林公司书面通知， 获悉其将所持有的公司部分股份质押给国机财务 ...