证券代码：600755 证券简称：厦门国贸 编号：2025-38 厦门国贸集团股份有限公司 董事会决议公告 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。 一、董事会会议召开情况 厦门国贸集团股份有限公司（以下简称"公司"）第十一届董事会 2025 年度 第八次会议通知于 2025 年 5 月 15 日以书面方式送达全体董事，全体董事一致同 意豁免本次会议通知时限要求，本次会议于 2025 年 5 月 15 日以通讯方式召开。 本次会议应到董事 8 人，实到董事 8 人。会议由董事长高少镛先生主持，全体监 事列席了会议。会议的通知、召开及审议程序符合《公司法》等法律法规及《公 司章程》的规定。 本议案已经第十一届董事会提名委员会 2025 年度第四次会议审议通过。 具体内容详见公司同日披露的《厦门国贸集团股份有限公司关于董事辞职暨 增补董事的公告》（编号 2025-40）。 本议案尚需提交公司股东大会审议。 2.《关于召开公司 2024 年年度股东大会的议案》。 表决结果：同意 8 票、反对 0 票、弃权 0 票。 具体内容详 ...

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] Summary by Sections Financial Performance - In 2024, the company reported operating revenue of RMB 354.44 billion, a decrease of 24.3% year-on-year, and a net profit attributable to shareholders of RMB 626 million, down 67.33% year-on-year [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% year-on-year [4][9] Profitability Forecast - The adjusted net profit forecasts 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. The expected EPS for these years are RMB 0.59, RMB 0.72, and RMB 0.91 [6][8] Business Strategy - The company is focusing on high-value-added services in its supply chain business and accelerating international expansion by establishing branches in countries like Vietnam and Germany [9] - The health technology segment showed strong performance with a revenue increase of 49.61% to RMB 1.10 billion, with significant overseas revenue contribution [9]

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].

Core Viewpoint - Xiamen International Trade Group Co., Ltd. (the "Company") announced the completion of a share buyback plan by its controlling shareholder, Xiamen International Trade Holding Group Co., Ltd. (the "Holding Group"), which involved the purchase of 43,238,100 shares, representing 1.995% of the Company's total issued shares, with a total investment of 278.08 million yuan [2][6]. Summary by Sections 1. Basic Information of the Buyback - The buyback was conducted by the Holding Group from October 31, 2024, to April 30, 2025, through the Shanghai Stock Exchange, resulting in a total shareholding of 840,076,581 shares, or 38.759% of the Company's total issued shares [2][6]. 2. Previous Shareholding and Buyback Plans - Prior to this buyback, the Holding Group and its concerted actions held 796,838,481 shares, accounting for 36.76% of the total issued shares, with the Holding Group directly owning 776,422,386 shares [3]. - The previous buyback plan, announced on October 27, 2023, aimed to acquire shares worth between 50 million yuan and 100 million yuan, which was completed by April 26, 2024 [3][4]. 3. Progress of the Buyback Plan - As of January 15, 2025, the Holding Group had acquired 5,779,400 shares for 37.44 million yuan [4]. - By February 14, 2025, the total shares acquired increased to 29,644,900, with an investment of 191.32 million yuan [5]. - The final report on April 16, 2025, indicated that the Holding Group had purchased a total of 41,088,100 shares for 264.60 million yuan [5]. 4. Legal Compliance and Verification - A law firm confirmed that the Holding Group met the qualifications for the buyback and complied with relevant laws and regulations, including the Securities Law and the Acquisition Management Measures [7][8]. 5. Additional Notes - The Holding Group and its concerted actions committed not to reduce their shareholdings during the buyback period and the statutory period [9]. - The completion of this buyback plan will not affect the Company's listing status or lead to changes in the controlling shareholder [9].

Investment Rating - The investment rating for Xiamen Guomao (600755.SH) is "Buy" and is maintained [7] Core Views - In Q1 2025, the company achieved operating revenue of 70.53 billion yuan, a year-on-year decrease of 27.2%, while the net profit attributable to the parent company was 420 million yuan, reflecting a year-on-year increase of 2.8% [5][10] - The decline in revenue was attributed to adjustments in operational strategy, weakened market demand, and price drops in certain product categories [10] - The company is focusing on solidifying its operations and optimizing its business structure, with expectations for demand recovery [10] Summary by Sections Financial Performance - In Q1 2025, the company's operating revenue was 70.53 billion yuan, down 27.2% year-on-year, while the net profit attributable to the parent company was 420 million yuan, up 2.8% year-on-year [5][10] - The gross profit margin for the period improved by 0.4 percentage points to 2.6% despite a 13.7% decline in estimated gross profit due to reduced operational volume [10] Operational Strategy - The company is implementing a "three-chain integration" development model to optimize its business structure and adjust risk preferences [10] - It has established stable partnerships with over 90,000 enterprises across more than 170 countries and regions, enhancing its global commodity resource channel network [10] Future Outlook - The company is expected to see net profits of 1.19 billion, 1.48 billion, and 1.82 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-earnings ratios of 11.4, 9.2, and 7.5 times [10]

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].