Core Viewpoint - The shipping sector has shown strong performance, with notable stock price increases for several companies, indicating a positive trend in the industry [1] Company Performance - Qin Port Co., Ltd. reached the daily limit increase in stock price [1] - Xiamen Port Authority and Dongfang Chuangye also hit the daily limit increase previously [1] - Haitong Development, Xiamen International Trade, and Air China Oceanic have seen significant stock price increases [1]

Core Insights - The logistics sector experienced a 1.0% increase on October 27, with Xiamen Xiangyu leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Stock Performance - Xiamen Xiangyu (600057) closed at 7.77, up 3.74% with a trading volume of 327,600 shares and a turnover of 252 million yuan [1] - Other notable performers include: - Ruimaotong (600180) at 4.87, up 2.96% [1] - Shentong Express (002468) at 15.97, up 2.57% [1] - ST Haichin (600753) at 7.40, up 2.49% [1] - Debon Logistics (603056) at 15.56, up 1.97% [1] - SF Holding (002352) at 40.58, up 1.76% with a turnover of 1.489 billion yuan [1] Fund Flow Analysis - The logistics sector saw a net inflow of 158 million yuan from institutional investors, while retail investors experienced a net outflow of 64.2 million yuan [2] - Key stocks with significant fund flows include: - Wuchan Zhongda (600704) with a net inflow of 86.62 million yuan from institutional investors [3] - SF Holding (002352) with a net inflow of 66.92 million yuan from institutional investors [3] - Shentong Express (002468) with a net inflow of 61.20 million yuan from institutional investors [3]

Core Insights - Xiamen is a city that has thrived due to its openness, becoming a crucial link between domestic and international markets, with a favorable business environment fostering the growth of major supply chain enterprises [2][3] - Xiamen Guomao Group has established itself as a leader in the supply chain industry, particularly in the fields of steel, coal, textiles, rubber, and grain, being one of the top three supply chain companies in China [2][3] Supply Chain Operations - The company has been deeply involved in the paper industry for over 20 years, achieving comprehensive coverage of the pulp and paper supply chain, contributing to resource recycling and sustainable development [3][5] - Xiamen Guomao has been importing over 200 million tons of Brazilian soybeans annually, with a trade volume exceeding 1 billion yuan, showcasing its significant role in the agricultural supply chain [3][4] Strategic Partnerships - The company has built a supply chain network in Brazil by collaborating with major global grain traders and local enterprises, providing end-to-end supply chain services and enhancing trade relations between China and Brazil [4][10] - Xiamen Guomao has become the largest importer of Uzbek cotton yarn in China, establishing strong partnerships with over 100 local cotton enterprises and optimizing logistics through direct rail connections [8][9] Global Expansion - The company has expanded its international presence, establishing over 50 subsidiaries and offices worldwide, enhancing its global supply chain capabilities and service offerings [11] - Xiamen Guomao aims to transition from being a market entrant to a value co-builder, focusing on localized operations and talent acquisition to strengthen its international partnerships [10][11]

Core Insights - Real estate companies in Xiamen are shifting their business strategies to focus on "sales-driven production" and product upgrades, aiming to create differentiated competitive advantages and meet the diverse needs of homebuyers [1] Sales Performance - In the first nine months of 2025, the top 10 real estate companies in Xiamen achieved a total sales amount of approximately 46.03 billion yuan, with Jianfa Real Estate, Guomao Real Estate, and Xiamen Rail Transit Group leading the sales performance [2][3] - The sales area for the top 10 companies reached 1.5387 million square meters, with a minimum sales threshold of 1.953 billion yuan for the top 10 companies [3] Market Trends - The new housing price index in Xiamen has shown a continuous downward trend, with a September 2025 index of 28,696 yuan per square meter, reflecting a month-on-month decline of 0.55% and a year-on-year decrease of 2.03% [4] - The second-hand housing market is also experiencing a decline, with a September 2025 index of 42,721 yuan per square meter, down 1.14% month-on-month and 13.23% year-on-year [7] Market Activity - The real estate market in Xiamen saw a mild recovery in activity in September 2025, with new housing transactions reaching approximately 97,300 square meters, an 18% increase month-on-month and a 19% increase year-on-year [8] - The total supply of new residential properties in Xiamen for the first nine months of 2025 was 1.1085 million square meters, a 51% increase year-on-year, with September seeing a significant supply increase to 270,000 square meters [8] Customer Preferences - There is a growing demand for high-quality living spaces, with the proportion of high-end improvement and luxury products increasing to 12% and 7% respectively in 2025, while the share of basic and improved housing products has decreased [11] Inventory and Market Dynamics - As of the end of September 2025, the inventory level in Xiamen's real estate market was approximately 2.6232 million square meters, reflecting a 7% increase month-on-month, leading to an extended inventory turnover period of 15.91 months [14][17] - The top-performing districts in terms of transaction volume were Jimei District, Huli District, and Tong'an District, with respective sales areas of 275,900 square meters, 238,600 square meters, and 180,300 square meters [15]

Core Viewpoint - The logistics sector experienced a decline of 1.6% on October 17, with major stocks like Huaguang Yuanhai leading the drop, while the Shanghai Composite Index fell by 1.95% and the Shenzhen Component Index decreased by 3.04% [1][2]. Group 1: Market Performance - The logistics sector's stocks showed mixed performance, with YD Holdings rising by 10.03% to close at 9.76, while Huami Yuanhai fell by 5.74% to 26.58 [1][2]. - The trading volume for YD Holdings was 542,900 shares, with a transaction value of 525 million yuan, indicating strong investor interest [1]. - The overall market saw significant declines, with the Shanghai Composite Index closing at 3839.76 and the Shenzhen Component Index at 12688.94 [1]. Group 2: Capital Flow - The logistics sector experienced a net outflow of 658 million yuan from institutional investors, while retail investors saw a net inflow of 471 million yuan [2][3]. - Notable stocks like Xiamen Guomao and Jianda Co. had varying net inflows and outflows, with Xiamen Guomao seeing a net inflow of 15.31 million yuan from institutional investors [3]. - The overall capital flow indicates a shift in investor sentiment, with retail investors showing more confidence compared to institutional investors [2][3].

证券代码：600755 证券简称：厦门国贸 公告编号：2025-59 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 一、担保情况概述 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 | 亿元 1.80 | 厦门国贸同歆实业有限公司 | | | --- | --- | --- | --- | --- | | 担保对象 | 实际为其提供的担保余额 | 25.04 | 亿元（不含本次） | | | | 是否在前期预计额度内 | 是 | □否 | □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 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保总额（亿元） | 1,272.31 | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 385.20 | | 产 特别风险提示（如有请勾 ...

Core Viewpoint - Xiamen International Trade has shifted its focus towards the health technology sector after divesting from real estate, aiming to accelerate its development through mergers and acquisitions in the healthcare technology field [1][4]. Financial Performance - In the first half of 2025, Xiamen International Trade reported a revenue of 151.66 billion, a year-on-year decrease of 22.31%, and a net profit attributable to shareholders of 5.23 billion, down 37.62% [2][3]. - The supply chain management business generated 151.09 billion in revenue, with a gross margin of 1.26%, reflecting a 22.36% decline year-on-year [2][3]. - Other business segments contributed 0.24 billion in revenue, with a gross margin of 15.52%, marking a 57.57% decrease year-on-year [2][3]. - The health technology segment achieved a revenue of 5.44 billion, with a gross margin of 39.63%, down 2.62% year-on-year [2][5]. Business Strategy - The health technology segment focuses on medical devices, particularly in minimally invasive surgery, and aims to create a comprehensive service platform centered on supply chain distribution [4][5]. - The company is enhancing its elderly care services, emphasizing community and home-based care, and is developing an integrated service system that includes medical, health, and rehabilitation services [4]. - As the sole authorized health data operator for the Xiamen government, the company is building a medical big data technology platform to serve various stakeholders [4]. Recent Developments - In June 2023, Xiamen International Trade acquired Beijing Paiter Medical Technology Co., which specializes in minimally invasive surgical solutions, contributing to the health technology segment's revenue growth [5]. - Paiter Medical reported a revenue of 5.84 billion in 2024 and 2.62 billion in the first half of 2025, with net profits of 910.22 million and 556.60 million respectively [5].

Core Viewpoint - Xiamen Guomao's private equity fund management company, Guomao Chuangling (Shanghai) Private Fund Management Co., Ltd., has officially completed its registration as a private fund manager, with Dong Xiaoliang, a veteran with nearly 30 years of financial experience, serving as the legal representative [2][4]. Group 1: Company Overview - Guomao Chuangling Private Fund was established on July 25, 2023, with a registered capital of 20 million yuan, located in Shanghai [2]. - The company completed its private fund manager registration on September 30, 2025, and is classified as a private equity and venture capital fund manager [2]. - The shareholders of Guomao Chuangling are Xiamen Guomao Capital, holding 51%, and Guomao Chuangling (Shanghai) Investment Co., Ltd., holding 49% [3]. Group 2: Leadership and Team - Dong Xiaoliang, the legal representative, has extensive experience across various financial sectors, including futures, securities, and funds, and has held multiple managerial positions in financial institutions [4][6]. - The core team of Guomao Chuangling combines "state-owned enterprise genes" with "market experience," including General Manager Gong Jiaxin, who has 15 years of industry experience [6].

Core Insights - The company reported that its import business generated revenue that accounts for approximately 10% to 15% of its total annual revenue over the past three years [1] Group 1 - The company has been actively engaging with investors regarding its financial performance [1] - The import business has shown a consistent contribution to the company's overall revenue [1]

厦门国贸（600755.SH）9月25日在投资者互动平台表示，公司未直接投资摩尔线程。根据摩尔线程公 开信息显示，持有摩尔线程0.67%股份的"厦门国贸"为厦门国贸产业发展股权投资基金合伙企业（有限 合伙）的简称。该基金为公司参与投资的项目。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司下属基金是否参股摩尔线程？ ...