Investment Rating - The report maintains an "Accumulate" rating for the company [2][4][6] Core Views - The company experienced a significant decline in revenue and net profit in 2024 due to a reduction in supply chain business scale and asset impairment losses. However, the first quarter of 2025 shows signs of recovery in operating quality and profitability [4][9] - Future profitability is expected to rebound as non-recurring impairment losses decrease and core business profitability stabilizes [4][6] Financial Summary - In 2024, the company reported operating revenue of RMB 354.44 billion, a decrease of 24.30% year-on-year, and a net profit attributable to shareholders of RMB 626 million, down 67.33% [4][9] - For Q1 2025, the company achieved operating revenue of RMB 70.53 billion, a decline of 27.19% year-on-year, but a net profit of RMB 422 million, an increase of 2.76% [4][9] - The projected net profits for 2025-2027 are RMB 1.27 billion, RMB 1.55 billion, and RMB 1.97 billion, representing growth rates of 103.6%, 21.8%, and 27.2% respectively [6][8] Valuation Metrics - The report adjusts the earnings per share (EPS) forecast for 2025-2027 to RMB 0.59, RMB 0.72, and RMB 0.91, with corresponding price-to-earnings (PE) ratios of 10.9, 8.9, and 7.0 [6][8] - The company’s EBITDA for 2025 is projected at RMB 3.07 billion, with a significant recovery expected in subsequent years [8][9] Strategic Outlook - The company is focusing on enhancing its supply chain management and international expansion, with plans to establish branches in countries like Vietnam and Germany [9] - The health technology segment is expected to grow, with a 49.61% increase in revenue to RMB 1.10 billion in 2024 [9]

Group 1 - The company will participate in the "2024 Annual Report Performance Briefing and Investor Online Reception Day" organized by Xiamen Securities Regulatory Bureau, Xiamen Listed Companies Association, and Shenzhen Panorama Network Co., Ltd. on May 15, 2025 [1][4] - The event will be held in an online interactive format from 15:40 to 17:00 [1] - Investors can access the event through the "Panorama Roadshow" website, WeChat official account "Panorama Finance," or by downloading the Panorama Roadshow APP [1] Group 2 - Key participants from the company include Vice Chairman and President Cai Yingbin, Independent Director Peng Shuijun, Vice President and Board Secretary Fan Dan, and Vice President and Chief Financial Officer Zhou Chaohua [2] - Investors can submit questions via email by May 13, 2025, and the company will address common concerns during the briefing [2] - Investors can also log in to the "Panorama Roadshow" website during the event to participate and receive timely responses to their inquiries [2][3] Group 3 - The contact department for the event is the Securities Affairs Department, with a provided phone number and email for inquiries [3] - After the event, investors can view the event's proceedings and main content on the "Panorama Roadshow" website [3]

证券代码：600755 证券简称：厦门国贸 编号：2025-36 厦门国贸集团股份有限公司 关于参加厦门辖区上市公司2024年年报业绩说明会暨 投资者网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，厦门国贸集团股份有限公司（以下简称 "公司"）将参加由厦门证监局、厦门上市公司协会与深圳市全景网络有限公司 联合举办的"厦门辖区上市公司 2024 年年报业绩说明会暨投资者网上集体接待日 活动"，现将相关事项公告如下： 一、活动的时间、方式、平台 活动时间：2025 年 5 月 15 日（星期四）15:40-17:00 三、投资者参与方式 1．投资者可于 2025 年 5 月 13 日（星期二）17:00 前将相关问题通过电子邮 件的方式发送至 zqswb@itg.com.cn，公司将在说明会上就投资者普遍关注的问题 进行回答。 活动方式：网络文字互动方式 活动平台：投资者可登录"全景路演"网站（http://rs.p5w.net），或关注微信 公众号："全景财经"，或下载全 ...

Group 1 - Xiamen Guomao Shipbuilding Co., Ltd. has been established with a registered capital of 60 million yuan [1] - The company is wholly owned by Xiamen Guomao and its legal representative is Lin Haiyu [1] - The business scope includes ship sales, leasing, supply chain management, import and export services, and various transportation services [1] Group 2 - The company is involved in both domestic and international shipping, including container and general cargo transportation [1] - It offers a wide range of services such as customs declaration, warehousing, and marine engineering equipment manufacturing [1] - The company is also engaged in ship management, repair, and training services for crew and pilots [1]

Summary of Key Points Core Viewpoint - In the recent five trading days (April 24 to April 30), significant shareholders of 17 companies increased their holdings, totaling 55.21 million shares and an investment of 474 million yuan, while 49 companies saw a reduction in holdings amounting to 4.909 billion yuan [1]. Group 1: Shareholder Activity - A total of 17 companies experienced significant shareholder increases, with a cumulative increase of 55.21 million shares and an investment of 474 million yuan [1]. - Among the companies with notable increases, Debon Holdings led with an increase of 9.5563 million shares and an investment of 13.132 million yuan, followed by China Aluminum with 17.3 million shares and 11.1 million yuan [1][2]. - The majority of the increased holdings were concentrated in the transportation and non-ferrous metals sectors, with 4 and 2 companies respectively [1]. Group 2: Market Performance - The average performance of stocks with increased holdings saw a decline of 0.71% over the five days, underperforming the Shanghai Composite Index during the same period [1]. - Notable gainers included Tongkun Co., with a rise of 3.13%, and Kangxin Materials, which increased by 2.02% [1][2]. - Conversely, stocks like Beibu Gulf Port and Debon Holdings experienced significant declines of 6.73% and 5.82% respectively [1][2]. Group 3: Fund Flow - Among the stocks with increased holdings, 9 experienced net inflows of main funds, with Renfu Pharmaceutical seeing the highest net inflow of 5.8 million yuan [2]. - In contrast, Beibu Gulf Port and Qiyi Er experienced the largest net outflows, with 205 million yuan and 61 million yuan respectively [2].

本公司董事会、全体董事及相关股东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： ● 厦门国贸集团股份有限公司（以下简称"公司"）控股股东厦门国贸控股集团有限公司（以下简称"国 贸控股"）于2024年10月31日至2025年4月30日期间，通过上海证券交易所（以下简称"上交所"）集中竞 价交易等方式增持公司股份43,238,100股，占公司已发行股份的1.995%，累计增持金额27,807.77万元。 本次增持计划已实施完毕。 ● 本次增持计划完成后，国贸控股及其一致行动人合计持有公司股份840,076,581股，占公司已发行股份 的38.759%。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600755 股票简称：厦门国贸 编号：2025-35 厦门国贸集团股份有限公司 关于控股股东以专项贷款和自有资金 增持公司股份计划实施完毕暨增持届满的公告 4．公司于2025年4月17日在上交所网站（http://www.sse.com.cn）披露了《关于控股股东以专项贷款和 自有资金增持公司股份计划的进展公告》（公告编号：2 ...

公司研究丨点评报告丨厦门国贸（600755.SH） [Table_Title] 经营底部逐步夯实，25Q1 业绩同比略增 报告要点 [Table_Summary] 2025Q1，公司实现营业收入 705.3 亿元，同比下降 27.2%，归母净利润 4.2 亿元，同比增长 2.8%。2025Q1，受经营策略调整、市场需求减弱以及部分经营商品品类价格下跌等综合影响， 公司营业收入同比下降 27.2%。公司经营风格稳健，负债规模收缩，驱动财务费用同比下降 15.5%，最终公司归母净利润同比微增 2.8%。公司持续夯实经营，优化业务结构，期现毛利率 底部修复，期待需求催化。 丨证券研究报告丨 分析师及联系人 [Table_Author] 韩轶超 鲁斯嘉 胡俊文 SAC：S0490512020001 SAC：S0490519060002 SAC：S0490524120001 SFC：BQK468 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 厦门国贸（600755.SH） cjzqdt11111 [Table_Title2] 经营底部逐步夯实，25Q1 业绩同比略增 [ ...

Core Viewpoint - Xiamen International Trade Group has reported a significant decline in revenue and net profit for 2024, with a focus on improving supply chain management and health technology business performance in 2025 [1][2][3][4]. Financial Performance - In 2024, the company achieved operating revenue of 354.44 billion yuan, a decrease of 24.30% year-on-year, and a net profit attributable to shareholders of 626 million yuan, down 67.33% year-on-year [1]. - The net cash flow from operating activities was -931 million yuan, compared to 3.206 billion yuan in the same period of 2023 [1]. - Basic earnings per share were 0.04 yuan, a decline of 93.75% year-on-year, and the weighted average return on equity was 0.37%, down 6.28 percentage points year-on-year [1]. Quarterly Performance - In Q4 2024, the company reported operating revenue of 68.11 billion yuan, an increase of 0.86% year-on-year but a decrease of 25.25% quarter-on-quarter [1]. - The net profit attributable to shareholders in Q4 was -8.6 million yuan, compared to a profit of 4.9 million yuan in the same period of 2023, although the loss narrowed [1]. - For Q1 2025, the company achieved operating revenue of 70.53 billion yuan, a decrease of 27.19% year-on-year but an increase of 3.56% quarter-on-quarter, with a net profit of 422 million yuan, up 2.76% year-on-year [1]. Supply Chain Management - In 2024, the supply chain management business generated revenue of 353.22 billion yuan, down 24.09% year-on-year, with overseas revenue of 65.86 billion yuan and total import-export volume of 14.418 billion USD [2]. - The overall gross margin for the supply chain management business improved to 1.83%, an increase of 0.36 percentage points year-on-year, despite a decline in operating volume for major categories [2]. - Key product categories such as iron ore, steel, and coal maintained strong market positions, with significant improvements in gross margins [2]. Health Technology Business - The health technology segment reported revenue of 1.103 billion yuan in 2024, a growth of 49.61% year-on-year, with a gross margin of 41.04%, up 16.31 percentage points [3]. - The subsidiary, Paiter Medical, achieved revenue of 584 million yuan, a year-on-year increase of 15.42%, with over 50% of its revenue coming from overseas markets [3]. Shareholder Returns - The company announced a cash dividend of 0.33 yuan per share for 2024, totaling 715 million yuan, which represents 114.32% of the annual net profit attributable to shareholders, with a year-on-year increase in the dividend payout ratio of 56.76 percentage points [4]. - For 2025, the company plans to continue mid-term cash dividends, with amounts not exceeding 50% of the net profit attributable to shareholders for the corresponding period [4]. Profit Forecast and Valuation - The profit forecast for 2025-2027 has been adjusted, with expected net profits of 1.359 billion yuan, 1.657 billion yuan, and 1.976 billion yuan respectively [4]. - The projected earnings per share for 2025-2027 are 0.63 yuan, 0.76 yuan, and 0.91 yuan, with the current stock price at 6.27 yuan, resulting in corresponding price-to-earnings ratios of 10.0X, 8.2X, and 6.9X [4].

关于厦门国贸控股集团有限公司 增持厦门国贸集团股份有限公司股份之 法 律 意 见 书 致:厦门国贸控股集团有限公司 北京观韬（厦门）律师事务所（以下简称"本所"）受厦门国贸控股集团有 限公司(下称"增持人"或"国贸控股")委托,根据《中华人民共和国公司法》 (以下简称"《公司法》")、《中华人民共和国证券法》(以下简称"《证券 法》"）、《上市公司收购管理办法》(以下简称"《收购管理办法》")及《上 海证券交易所上市公司自律监管指引第 8 号 --- 股份变动管理》(以下简称"《自 律监管指引8号》") 等法律法规的规定,按照《律师事务所从事证券法律业务 管理办法》《律师事务所证券法律业务执业规则(试行)》及律师行业公认的业 务标准、道德规范和勤勉尽责精神,就国贸控股增持厦门国贸集团股份有限公司 (下称"厦门国贸"或"公司") 股份事宜(下称"本次增持") 出具本法律意 见书。 为出具本法律意见书, 本所作出如下声明: 北京观韬(厦门) 律师事务所 1、本所根据本法律意见书出具日以前已经发生或存在的事实并依据我国现 行法律、法规和规范性文件的规定发表法律意见。 2、增持人已对本所做出如下保证:增持人已经向本所 ...

证券代码：600755 股票简称：厦门国贸 编号：2025-35 本公司董事会、全体董事及相关股东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： 厦门国贸集团股份有限公司（以下简称"公司"）控股股东厦门国贸控股 集团有限公司（以下简称"国贸控股"）于 2024 年 10 月 31 日至 2025 年 4 月 30 日期间，通过上海证券交易所（以下简称"上交所"）集中竞价交易等方式增持 公司股份 43,238,100 股，占公司已发行股份的 1.995%，累计增持金额 27,807.77 万元。本次增持计划已实施完毕。 本次增持计划完成后，国贸控股及其一致行动人合计持有公司股份 840,076,581 股，占公司已发行股份的 38.759%。 2025年4月30日，公司收到控股股东国贸控股《关于增持厦门国贸集团股份 有限公司股份计划实施情况的通知》，现将相关情况公告如下： 一、增持主体的基本情况 1．增持主体：国贸控股，为公司控股股东。 厦门国贸集团股份有限公司 关于控股股东以专项贷款和自有资金 增持公司股份计划实施完毕暨增持届满的公 ...