Core Viewpoint - The company, Xiamen International Trade Group Co., Ltd., is set to hold a performance briefing for the third quarter of 2025 on November 21, 2025, to enhance communication with investors and address their concerns regarding the company's financial performance [2][3]. Group 1: Meeting Details - The performance briefing will take place on November 21, 2025, from 10:00 AM to 11:00 AM [4]. - The meeting will be held at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [4][5]. - Participants will include the company's Vice Chairman and President, Mr. Cai Yingbin, Independent Director Mr. Peng Shuijun, Vice President and Secretary of the Board Ms. Fan Dan, and Vice President and Chief Financial Officer Mr. Zhou Chaohua [4]. Group 2: Investor Participation - Investors can participate in the briefing by logging into the Shanghai Stock Exchange Roadshow Center on the day of the event [5]. - A pre-questioning period is available from November 14 to November 20, 2025, where investors can submit questions via the Roadshow Center's website or through the company's email [5]. Group 3: Contact Information - The company's Securities Affairs Department can be contacted for inquiries at phone number 0592-5897363 or via email at zqswb@itg.com.cn [6].

关于召开2025年第三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： 证券代码：600755 证券简称：厦门国贸 编号：2025-61 厦门国贸集团股份有限公司 会议召开时间：2025 年 11 月 21 日（星期五）上午 10:00-11:00 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/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 14 日（星期五） 至 11 月 20 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 （zqswb@itg.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。 厦门国贸集团股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日在 上海证券交易所网站（http://www.sse.com.cn）披露了公司 2025 年第三季度报告。 为便于广大 ...

Core Viewpoint - The China Coal Economic Research Association reports significant structural changes in the coal transportation system during the "14th Five-Year Plan" period, enhancing the national allocation capacity of coal resources and promoting a smart and green transformation in coal transportation [1][2]. Group 1: Market Performance - As of November 13, 2025, the CSI State-Owned Enterprises Dividend Index (000824) decreased by 0.27%, with component stocks showing mixed performance [1]. - Leading gainers included Luxi Chemical (000830), while Sichuan Road and Bridge (600039) led the declines [1]. Group 2: Coal Transportation Developments - The National Railway Group reported that coal transportation reached 1.57 billion tons in the first nine months of the year, a year-on-year increase of 11.1%, with thermal coal accounting for 1.1 billion tons, up 17% [2]. - The successful operation of the new Shuo Railway, capable of 20,000-ton heavy-load transport, marks a significant advancement in coal transportation capabilities [1][2]. Group 3: Investment Strategies - CITIC Securities suggests that in the context of a weak macroeconomic recovery, high dividend strategies remain attractive, particularly for large-cap stocks in sectors like coal and photovoltaics [2]. - The CSI State-Owned Enterprises Dividend ETF closely tracks the CSI State-Owned Enterprises Dividend Index, which includes 100 listed companies with high and stable cash dividend yields [2].

Core Insights - The conference focused on exploring a credible collaborative model for the resource allocation hub of bulk commodities, highlighting the importance of credit construction and collaborative innovation in the bulk commodity market [1][2] Group 1: Event Overview - The event was supported by the Shanghai Municipal Commission of Commerce and hosted by the National Bulk Commodity Warehouse Receipt Registration Center, featuring over a hundred representatives from various sectors including industry, finance, and media [1] - The conference is part of the 2025 China International Import Expo activities, emphasizing the integration of registration, warehousing, and finance in the bulk commodity sector [1] Group 2: Strategic Developments - The registration scope of the National Bulk Commodity Warehouse Receipt Registration Center has expanded from copper to include other non-ferrous metals such as aluminum, lead, zinc, tin, nickel, and silver, totaling 13 registered spot commodity varieties with over 12.1 million tons of registered weight as of November 9 [3] - The center has awarded licenses to major domestic logistics groups for warehouse management, establishing a credible warehousing network to ensure the safety and ownership of electronic warehouse receipts [3] Group 3: Financial Collaboration - A strategic cooperation agreement was signed between the National Bulk Commodity Warehouse Receipt Registration Center and the Shanghai Clearing House to enhance collaboration in warehouse receipt transfer registration and clearing, aiming for a secure and efficient clearing model [4] - Additional agreements were made with several banks to expand financing scenarios related to warehouse receipt pledges, thereby broadening financing channels for enterprises in the supply chain [4] Group 4: Industry Perspectives - A roundtable forum discussed new trends in the global bulk commodity market and the current state of Shanghai's bulk commodity trade, with participants emphasizing the need for a trade, finance, and data infrastructure centered around warehouse receipt registration to drive market transformation [5] Group 5: Future Directions - The National Bulk Commodity Warehouse Receipt Registration Center aims to continue building a credible trading environment for bulk commodities, supporting Shanghai's development as a global resource allocation hub and contributing to the construction of a unified national market [6]

Group 1 - The core event is the eighth China International Import Expo (CIIE) held in Shanghai from November 5 to 10, where the company Xiamen International Trade Group Co., Ltd. (referred to as "the company") deepened international economic and trade cooperation [2] - The company achieved procurement cooperation intentions with multiple exhibitors during the expo, with a total signed amount exceeding 1 billion USD [2][3] - Since the inception of the CIIE in 2018, the company has participated for eight consecutive years, leveraging the international procurement platform to deepen cooperation with global Fortune 500 companies and industry leaders, accumulating a total transaction amount exceeding 10 billion USD [3] Group 2 - The company showcased its latest supply chain practices, emphasizing the integration of artificial intelligence with supply chain management, presenting a comprehensive view of its diverse business layout in black metals, energy chemicals, agricultural products, and international logistics [3][4] - The company has accelerated its internationalization efforts, exemplified by projects like the Qingdao Port Dongjiakou blending project and the Central Asia-Fujian Uzbekistan cotton yarn service project, highlighting its global supply chain service capabilities [4] - The company introduced innovative medical solutions at the expo, including the first-ever electric laparoscopic linear cutting stapler, which enhances surgical efficiency and supports clinical applications [5] Group 3 - The company aims to transform innovative products from "exhibits" to "goods," accelerating the implementation of medical innovations to benefit the public [5] - The company has successfully introduced previously showcased products, such as the cardiac surgery sutures and swallowable gastric balloons, into multiple medical centers, demonstrating its commitment to advancing healthcare solutions [5]

Core Points - The 2025 China Golden Rooster and Hundred Flowers Film Festival service delivery ceremony was held on November 7 at the Xiamen International Convention and Exhibition Center, marking the full launch of the "Golden Rooster Service" system by the Xiamen Guomao Group, a Fortune Global 500 company [1] - The event signifies the first time the nomination ceremony will be held outside the island, enhancing the festival's reach and impact [2] - The festival coincides with significant anniversaries, including the 80th anniversary of the victory in the Chinese People's War of Resistance Against Japanese Aggression and the 130th anniversary of world cinema [2] Company Involvement - Guomao Group has been a consistent partner for seven years, providing comprehensive service capabilities to support the film festival [2] - The company aims to showcase its brand charm and provide a detailed experience during the festival, including guest reception and forum organization [2] - Various subsidiaries of Guomao Group, including Guomao Exhibition and Guomao Paper, will collaborate with the Xiamen Film Festival Company to deliver services across venue operations, conference support, paper supply, and food security [2] Event Details - The festival will take place from November 11 to 15, featuring key events such as the 38th China Golden Rooster Awards nomination ceremony and the "Future of Film" forum [5] - The Xiamen International Convention and Exhibition Center, operated by Guomao Exhibition, is a strategic project for the high-quality development of Xiamen's exhibition industry, boasting a net meeting area of 42,000 square meters and 46 meeting halls [5] - Preparations for the 2025 film festival are progressing smoothly, with Guomao Group set to present a comprehensive image and professional service capabilities to enhance the festival experience [5]

Core Insights - The Guozheng Free Cash Flow Index has increased by 0.56% as of November 10, 2025, with leading stocks including Yuntianhua, Shoulv Hotel, Changbao Co., Huaren Health, and Baiyin Nonferrous Metals [1] - The Free Cash Flow ETF (159201) has seen a 0.5% rise, marking its fourth consecutive increase, with the latest price at 1.22 yuan [1] - The Free Cash Flow ETF has recorded a net inflow of 260 million yuan over the past five trading days, with a total share count reaching a new high of 4.706 billion shares [1] Performance Metrics - As of November 7, 2025, the Free Cash Flow ETF has achieved a net value increase of 24.13% over the past six months [2] - The ETF's highest single-month return since inception is 7%, with the longest consecutive monthly increase being six months and a maximum increase of 22.69% [2] - The ETF has a historical six-month profit probability of 100% and an average monthly return of 3.2% [2] Risk and Recovery - The maximum drawdown for the Free Cash Flow ETF in the last six months is 3.65%, which is the smallest among comparable funds [2] - The recovery time after drawdown is 35 days, indicating the fastest recovery among similar funds [2] Fee Structure and Tracking Accuracy - The management fee for the Free Cash Flow ETF is 0.15%, and the custody fee is 0.05%, both of which are the lowest among comparable funds [3] - The tracking error over the past two months is 0.052%, demonstrating the highest tracking accuracy among similar funds [3] Top Holdings - The top ten weighted stocks in the Guozheng Free Cash Flow Index account for 54.79% of the index, with major holdings including China National Offshore Oil Corporation, SAIC Motor, Wuliangye, and Gree Electric Appliances [3][5]

Core Points - The "2025 Securities Industry High-Quality Development Conference and Jin Yuan Group Cup Securities Industry Golden Bull Award Ceremony" was held in Xiamen, supported by Jin Yuan Group and organized by China Securities Journal [1] - The event revealed the winners of the 2025 Securities Company Golden Bull Awards, which included nine categories and recognized 38 securities companies with a total of 73 awards [1] - The 2025 Securities Company Collective Asset Management Plan Golden Bull Awards included various categories, with 20 institutions and 105 products receiving awards [1] Group 1: Award Categories - The 2025 Securities Company Golden Bull Awards included categories such as Golden Bull Securities Company, Golden Bull Growth Securities Company, and Golden Bull ESG Award [1] - The awards recognized excellence in cultural construction, wealth management teams, investment banking teams, and financial technology within the securities industry [1] Group 2: Award Winners - Notable winners of the Golden Bull Securities Company include CITIC Securities, China Galaxy Securities, and Guotai Junan Securities [5][6][8] - The Golden Bull Growth Securities Company winners included Industrial Securities, Everbright Securities, and Zhongtai Securities [7] - The ESG Golden Bull Award was awarded to companies such as Orient Securities and CITIC Securities [10] Group 3: Asset Management Awards - The 2025 Securities Company Collective Asset Management Plan Golden Bull Awards recognized five-year and three-year asset management leaders, with CITIC Securities Asset Management and China Merchants Securities Asset Management among the winners [21][22] - A total of 105 products were awarded in various categories, highlighting the competitive landscape of asset management in the securities industry [1]

Core Viewpoint - The news highlights the increasing importance of dividend assets in the context of China's economic policies, particularly emphasizing the role of "patient capital" from insurance funds and the regulatory push for higher dividend payouts from listed companies [1][2]. Group 1: Market Performance - As of November 7, 2025, the CSI State-Owned Enterprises Dividend Index (000824) rose by 0.39%, with notable increases in constituent stocks such as Huayang Co. (600348) up by 2.58% and CITIC Bank (601998) up by 2.25% [1]. - The National Enterprise Dividend ETF (159515) also saw an increase of 0.50% [1]. Group 2: Policy and Regulatory Environment - The "14th Five-Year Plan" emphasizes the introduction of "patient capital," primarily from insurance funds, which favor dividend assets due to their stable cash flow characteristics [1]. - Policies like the "Nine National Policies" require listed companies to increase their dividend payout ratios, with state-owned enterprises' dividend scale exceeding 370 billion yuan [1][2]. - Regulatory focus on dividend payouts is expected to provide a solid institutional guarantee for the long-term investment value of dividend assets [1]. Group 3: Investment Strategy - Analysts suggest that the policy guidance injects significant vitality into dividend assets, with major brokerages recommending a dual strategy of technology and dividend stocks for 2025, positioning dividend stocks as defensive assets in a low-interest-rate environment [1].

Market Overview - The logistics sector increased by 0.36% on November 6, with ST Xuefa leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Top Gainers in Logistics Sector - ST Xuefa (002485) closed at 4.94, up 5.11% with a trading volume of 89,700 shares and a turnover of 44.11 million yuan [1] - *ST Yuanshang (603813) closed at 31.15, up 4.95% with a trading volume of 9,205 shares and a turnover of 27.98 million yuan [1] - Jiayou International (603871) closed at 14.54, up 3.64% with a trading volume of 128,200 shares and a turnover of 186 million yuan [1] Top Losers in Logistics Sector - Xiamen Xiangyu (600057) closed at 8.39, down 3.12% with a trading volume of 489,700 shares and a turnover of 409 million yuan [2] - Huami Duhai (920351) closed at 26.55, down 2.82% with a trading volume of 23,000 shares and a turnover of 6.14 million yuan [2] - Changjiang Investment (600119) closed at 8.74, down 2.78% with a trading volume of 75,400 shares and a turnover of 6.60 million yuan [2] Capital Flow in Logistics Sector - The logistics sector experienced a net outflow of 94.34 million yuan from institutional investors, while retail investors saw a net inflow of 65.24 million yuan [2] - The main stocks with significant net inflows included SF Holding (002352) with 64.23 million yuan and Shanghai Yashi (603329) with 23.05 million yuan [3] Detailed Capital Flow Analysis - SF Holding (002352) had a main net inflow of 64.23 million yuan, but retail and speculative investors saw net outflows of 33.92 million yuan and 30.31 million yuan respectively [3] - Shanghai Yashi (603329) had a main net inflow of 23.05 million yuan, with retail investors experiencing a net outflow of 19.25 million yuan [3] - New Ning Logistics (300013) recorded a main net inflow of 18.31 million yuan, while retail investors had a net outflow of 12.91 million yuan [3]