厦门国贸，点评，26 年初，披露五年战略规划，指引未来方向 ◼ 走势比较 (10%) 2% 14% 26% 38% 50% 25/2/10 25/4/24 25/7/6 25/9/17 25/11/29 26/2/10 厦门国贸 沪深300 ◼ 股票数据 总股本/流通(亿股) 21.38/21.32 总市值/流通(亿元) 143.43/143.07 12 个月内最高/最低价 (元) 8.72/5.8 证券分析师：程志峰 电话：010-88321701 E-MAIL：chengzf@tpyzq.com 分析师登记编号：S1190513090001 ■ 事件 2026 年 02 月 10 日 公司点评 增持/首次 厦门国贸(600755) 目标价: 昨收盘:6.71 2026 年 1 月，厦门国贸披露《五年发展战略规划纲要（2026-2030）》。 回顾 23-24 年，公司归母净利润分别为：19.15 亿，6.26 亿；25 年前三 季度为 5.77 亿，同比幅度减少-18.94%。 ■ 点评 公司诞生于 1980 年的厦门，起步于进出口贸易业务，逐渐延伸到大 宗商品领域。目前是以供应链管理为公司的核心支柱产业 ...

Core Viewpoint - The successful issuance of 1.1 billion yuan in merger notes by Xiamen International Trade Holdings Group marks a significant innovation in debt financing tools in Fujian Province and the first digital yuan merger note in the country, showcasing the capabilities of Industrial Bank's Xiamen branch in supporting market-oriented mergers and acquisitions [1]. Group 1 - The merger notes, aimed at raising funds for corporate mergers, are a new debt financing tool for non-financial enterprises in the interbank market [1]. - This issuance aligns with the policy direction of optimizing the merger note work mechanism and addresses the funding needs in corporate merger financing, helping to reduce reliance on credit resources [1]. - The successful issuance demonstrates Industrial Bank's professional advantages and innovative capabilities in bond underwriting, contributing to the comprehensive financial service capacity to support quality enterprises in market-oriented mergers [1]. Group 2 - Industrial Bank's Xiamen branch plans to continue enhancing financial support for key areas of the real economy through innovative products like merger notes and sci-tech notes [2]. - The bank aims to guide financial resources to effectively support enterprises in broadening financing channels and reducing financing costs, contributing to the industrial structure upgrade and high-quality economic development in Xiamen [2].

证券代码：600755 证券简称：厦门国贸 公告编号：2026-05 厦门国贸集团股份有限公司 关于为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： 担保对象及基本情况 | | | 被担保人名称 本次担保金额 | 上海远盛仓储有限公司 6 亿元 | | | --- | --- | --- | --- | --- | | 担 保 | 对 | 实际为其提供的担保金额 | 亿元（含本次） 6 | | | 象 | | | | | | | | 是否在前期预计额度内 | □否 是 | □不适用：_________ | | | | 本次担保是否有反担保 | □是 否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（亿元） | | | | 0 | | --- | --- | --- | --- | --- | | 截至 2025 12 月 31 日上市公司 | 年 | | | | | 及其控股子公司对外担保总额（亿 | | | | 1,330.51 | | 元） | | ...

Group 1 - The company Xiamen Guomao (600755) announced that it provided a guarantee for its wholly-owned subsidiary Shanghai Yuansheng Warehousing Co., Ltd. to apply for hot-rolled coil delivery warehouse qualifications at the Shanghai Futures Exchange [1] - The total amount of guarantees provided by the company now reaches 600 million yuan, which includes a previous guarantee of 300 million yuan for natural rubber and pulp delivery warehouse qualifications [1] - The guarantee covers all responsibilities related to the subsidiary's operations in futures commodity storage, custody, delivery, and other related activities, with an irrevocable joint and several liability [1] Group 2 - The guarantee period is set for the duration of the cooperation agreement with the Shanghai Futures Exchange and three years after its expiration [1] - This guarantee falls within the company's approved guarantee limit of 193 billion yuan, which will be decided by the management within their authorized scope without needing further approval from the board or shareholders [1]

Core Insights - The Shanghai land market saw the transaction of three residential land plots, totaling 159,500 square meters, with a total transaction amount of 4.018 billion yuan [1] Group 1: Land Transactions - The land plots are located in Songjiang Jiuting, Qingpu Zhaoxiang, and Qingpu New City, with a total planned construction area of 205,300 square meters [1] - Changjiang Jinggong acquired the Songjiang plot for 446 million yuan, with a floor price of 23,000 yuan per square meter [1] - Xiamen Guomao won the Qingpu plots for 1.799 billion yuan, with a floor price of 20,000 yuan per square meter [2] Group 2: Land Characteristics - The Songjiang Jiuting plot is a rare addition to the residential land supply since 2012, indicating a shift towards quality living upgrades in a mature residential area [2] - The Qingpu Zhaoxiang plot is strategically located near major transportation routes and commercial areas, enhancing its appeal for future residential development [3][4] - The Qingpu New City plot consists of five sub-plots, with a total area of 73,527.19 square meters, and is designed to create a comprehensive living environment [4] Group 3: Market Trends - The January land sales reflect a continuation of previous market performance, with developers showing reduced interest in land acquisition during the traditional off-peak season [5] - The prices for the land plots align with market expectations, indicating a stable outlook for future land transactions [5] - It is anticipated that high-quality land in core urban areas will be released post-2026, potentially revitalizing market interest [5]

2026年伊始，国内期货市场化工板块便掀起一波涨价潮。如今，期货盘面热度依旧不减。然而，现货市 场却截然不同：终端订单不足、备货周期大幅缩短、企业纷纷提前放假。"热盘面"与"冷现实"，让化工 行业本有的春节旺季充满了不确定性。 "下游订单没有出现明显增量，这是当前化工市场的核心矛盾点。"杭州某化工下游制造企业采购负责人 王娟(化名)的语气中满是无奈。据了解，近期她所在企业的订单量低迷，完全没有大规模备货的底气。 "近期，虽然原料价格涨得厉害，但终端产品根本提不上价，一旦涨价便会面临丢失订单的风险。"王娟 表示，为控制成本风险，公司已大幅调整春节备货策略，即按需采购，维持5～10天的安全库存。 "更有甚者已经计划提前放假了，有的同行准备腊月二十就停工，打算春节后再议。大家的共识是，与 其高价盲目备货，不如收缩战线，先控制风险。"王娟称。 涨价抑制备货需求，期现价差有望收敛 谈及上述现象，宝成期货分析师陈栋表示，需要重点关注涨价对下游备货需求的抑制。 在他看来，近期化工市场"热盘面"与"冷现实"的现状不可持续，未来期现价差收敛、期价回归基本面是 必然趋势。 备货心态分化：贸易商纠结，下游企业谨慎 中基集团基础化工 ...

Group 1 - China State Construction recently secured major projects totaling 37.24 billion yuan, representing 1.7% of the audited revenue for 2024. The projects include four housing construction projects worth 18.37 billion yuan and four infrastructure projects worth 18.87 billion yuan, covering areas such as hospitals and highways [1] - The Shanghai land auction concluded with three residential plots sold at a base price of 4.02 billion yuan, with a total area of 239.3 acres and a total construction area of 205,000 square meters. The overall premium rate was 0%, reflecting a rational pricing approach during the industry adjustment period [2] - Guangzhou R&F Properties announced the suspension of six bonds starting January 30, 2026, as part of its debt restructuring process. This move indicates the company's proactive stance in addressing its debt issues amid a complex industry landscape [3] - South China City disclosed a preliminary plan for overseas debt restructuring, aiming to maintain existing credit support for creditors and allow them to benefit from potential equity appreciation. The success of this plan depends on creditor support and regulatory approvals [4] - Dalian Xindameng and Zhuhai Wanda Commercial Management announced board changes, appointing Zhao Zesheng as vice chairman and Li Zhen as Chief Human Resources Officer. This reflects a key step in optimizing governance structure under the leadership of the Taima Group [5]

新京报贝壳财经讯（记者徐倩）2026年1月29日，上海2025年第十一批次宅地正式开拍。本批次共3宗涉 宅用地，分别位于松江九亭、青浦赵巷、青浦新城，总土地出让面积15.95万平方米，总规划建筑面积 20.53万平方米，总起始价40.18亿元。最终，长江精工、厦门国贸、中交城投分别底价斩获3宗地块，总 成交价40.18亿元。 中指研究院上海数据总经理张文静分析称："整体来看，十一批次延续了十批次市场表现。1月作为传统 市场淡季，房企企业多处于调整阶段，拿地关注度与积极性较其他月份有所降低。本次三宗地块均为非 传统热门出地区域，拿地价格基本符合市场预期。预计2026年年后将逐步推出核心城区优质地块，推动 市场拿地热情回升。" 此外，青浦区QPC10007单元D4-01、D5a-01、J5-01、K2-04、K3-04地块，总土地出让面积约7.35万平 方米，总规划建筑面积约9.6万平方米，地块起始价17.72亿元，起始楼面价18467元/平方米。该地块最 终由中交城投以底价17.72亿元摘得。 卢文曦表示："今日竞拍的地块均位于松江、青浦这样的远郊区域。因此，郊区地块没有市区热度高， 况且郊区的项目去化压力是不 ...

智通财经记者 | 王婷婷 智通财经编辑 | 李慎 临近年末，开发商拿地热情减退。 1月29日，上海开启年内第十一批次土拍，三幅地块分布于松江九亭、青浦赵巷以及青浦新城，总起拍 价40.18亿元。最终，三幅地块都只有一家开发商参与，全部底价成交。 具体来看，松江区SJP0-0107单元02A-04地块总起始价4.46亿元，起始楼面价23000元/平方米，土地出让 面积18483.69平方米，地上总规划建筑面积19407.87平方米，容积率1.05，建筑限高24米，未来大概率 会打造低密多层住宅。 从地理位置来看，地块东至河道、南至规划路、西至文仁路、北至河道，算是一块被水系环绕的纯居住 用地，居住氛围较好。该地块由民营企业长江精工以总价4.46亿元竞得地块，溢价率0%。 这是长江精工第二次入沪拿地，两次拿地总价接近10亿元。2025年9月，在上海年内第七批土拍中闵行 区颛桥地块的争夺中，长江精工与闵房、象屿&天安展开激烈竞争，最终长江精工以总价5.46亿元竞得 地块，成交楼面价36649元/平方米，溢价率11.19%。 直到近日，闵行颛桥地块才公示设计方案，地块整体为抬板社区，并规划有下沉庭院，用地面积约 93 ...

（文章来源：证券日报） 证券日报网讯 1月28日，厦门国贸发布公告称，厦门国贸2025年中期利润分配方案：A股每股派发现金 红利0.10元（含税），股权登记日2026年2月3日，除权除息日及红利发放日均为2026年2月4日，总计派 现约2.14亿元。 ...