Market Overview - On September 4, the automotive service sector declined by 0.12%, with China Automotive Research leading the drop [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Stock Performance - Notable gainers included: - Dezhong Automobile (Code: 838030) with a closing price of 7.73, up 6.04% [1] - Shenping Holdings (Code: 600653) with a closing price of 2.15, up 2.38% [1] - Haowu Co. (Code: 000757) with a closing price of 4.70, up 1.29% [1] - Notable decliners included: - China Automotive Research (Code: 601965) with a closing price of 17.54, down 1.35% [2] - Alter (Code: 300825) with a closing price of 11.33, down 1.13% [2] - Shanghai Material Trade (Code: 600822) with a closing price of 12.50, down 0.48% [2] Capital Flow - The automotive service sector experienced a net outflow of 28.43 million yuan from institutional investors and 16.64 million yuan from retail investors, while retail investors saw a net inflow of 45.07 million yuan [2] - The detailed capital flow for key stocks showed: - Shenping Holdings had a net outflow of 16.82 million yuan from institutional investors [3] - China Automotive Research had a net inflow of 8.57 million yuan from institutional investors [3] - Alter experienced a significant net outflow of 26.83 million yuan from institutional investors [3]

Market Overview - The automotive service sector experienced a slight decline of 0.08% on September 1, with Altec leading the drop [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Stock Performance - Shanghai Wumao (600822) saw a closing price of 12.19, with a gain of 3.13% and a trading volume of 144,800 shares, amounting to a transaction value of 174 million yuan [1] - Xiamen Xinda (000701) closed at 6.05, up 2.89%, with a trading volume of 216,100 shares and a transaction value of 130 million yuan [1] - Altec (300825) closed at 11.72, down 1.68%, with a trading volume of 235,000 shares and a transaction value of 278 million yuan [2] Capital Flow - The automotive service sector saw a net outflow of 3.67 million yuan from institutional investors, while retail investors experienced a net outflow of 2.79 million yuan [2] - Speculative funds recorded a net inflow of 6.46 million yuan [2] Individual Stock Capital Flow - Shanghai Wumao (600822) had a net inflow of 20.93 million yuan from institutional investors, while retail investors saw a net outflow of 11.21 million yuan [3] - Altec (300825) experienced a significant net outflow of 33.47 million yuan from institutional investors, but a net inflow of 32.19 million yuan from retail investors [3] - China Automotive Research (601965) had a net outflow of 13.23 million yuan from institutional investors, with a net inflow of 2.80 million yuan from retail investors [3]

Core Viewpoint - Shanghai Womao (600822) reported a significant decline in revenue and net profit for the first half of 2025, indicating challenges in its business performance and financial health [1]. Financial Performance - Total revenue for the first half of 2025 was 892 million yuan, a decrease of 63.33% compared to the same period in 2024 [1]. - Net profit attributable to shareholders was 14.85 million yuan, down 45.25% year-on-year [1]. - In Q2 2025, total revenue was 420 million yuan, reflecting a 73.27% decline year-on-year, with net profit of 8.11 million yuan, a decrease of 63.07% [1]. - The company's gross margin improved to 14.8%, an increase of 138.8% year-on-year, while the net margin rose to 1.36%, up 47.61% [1]. - Total expenses (selling, administrative, and financial) reached 121 million yuan, accounting for 13.54% of revenue, which is a 130.83% increase year-on-year [1]. Balance Sheet and Cash Flow - Cash and cash equivalents decreased to 1.055 billion yuan, down 8.18% from the previous year [1]. - Accounts receivable fell to 297.07 million yuan, a decline of 17.81% [1]. - Interest-bearing liabilities decreased significantly to 78.23 million yuan, down 61.09% year-on-year [1]. - Earnings per share were 0.03 yuan, a decrease of 45.34%, while operating cash flow per share was -0.02 yuan, a decline of 107.88% [1]. Business Evaluation - The company's return on invested capital (ROIC) was 1.49%, indicating weak capital returns [1]. - Historical data shows a median ROIC of 3.57% over the past decade, with five years of losses since its listing [1]. - The business model relies heavily on marketing, necessitating further investigation into the underlying drivers of performance [2].

公司代码：600822 公司简称：上海物贸 900927 物贸B股 第一节 重要提示 1.1本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规 划，投资者应当到www.sse.com.cn网站仔细阅读半年度报告全文。 1.2本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 1.3公司全体董事出席董事会会议。 1.4本半年度报告未经审计。 2.1公司简介 ■ 2.2主要财务数据 单位：元 币种：人民币 ■ 2.3前10名股东持股情况表 单位: 股 ■ 2.4截至报告期末的优先股股东总数、前10名优先股股东情况表 1.5董事会决议通过的本报告期利润分配预案或公积金转增股本预案 2025年半年度利润不作分配；不作资本公积、盈余公积转增股本。 第二节 公司基本情况 □适用 √不适用 2.5控股股东或实际控制人变更情况 □适用 √不适用 2.6在半年度报告批准报出日存续的债券情况 □适用 √不适用 第三节 重要事项 公司应当根据重要性原则，说明报告期内公司经营情况的重大变化，以及报告期内发生 ...

Group 1 - The board of directors of Shanghai Material Trade Co., Ltd. held its 20th meeting of the 10th session on August 29, 2025, via telecommunication voting, with all 9 directors present [1][2] - The board approved the 2025 semi-annual report, with unanimous consent from all directors [1][2] - The board approved the addition of non-independent director Ren Bo to the remuneration and assessment committee [1][2] Group 2 - The board approved the liquidation and deregistration of Shanghai Bailian Second-hand Vehicle Operating Co., Ltd., a wholly-owned subsidiary with a registered capital of 750,000 RMB, which has had no actual business since 2023 [2] - The board also approved the liquidation and deregistration of Shanghai Bailian Used Vehicle Brokerage Co., Ltd., another wholly-owned subsidiary with a registered capital of 200,000 RMB, which has similarly had no actual business since 2023 [2] - The board reviewed and approved the risk continuous assessment report of Bailian Group Financial Limited Liability Company, which was previously approved by the independent directors [2][3]

Group 1 - The company Shanghai Womao (600822.SH) reported a revenue of 892 million yuan for the first half of 2025, representing a year-on-year decrease of 63.33% [1] - The net profit attributable to shareholders was 14.85 million yuan, down 45.25% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 5.13 million yuan, a decline of 39.58% compared to the previous year [1] - The basic earnings per share were 0.0299 yuan [1]

Core Viewpoint - Shanghai Material Trade (600822.SH) reported a significant decline in its half-year performance for 2025, with both revenue and net profit experiencing substantial drops compared to the previous year [1] Financial Performance - The company achieved a revenue of 892 million yuan, representing a year-on-year decrease of 63.33% [1] - The net profit attributable to shareholders was 14.85 million yuan, down 45.25% year-on-year [1] - The non-recurring net profit was 5.13 million yuan, reflecting a decline of 39.58% compared to the same period last year [1] - Basic earnings per share stood at 0.0299 yuan [1]

（文章来源：证券日报） 证券日报网讯 8月29日晚间，上海物贸发布公告称，公司第十届董事会第二十次会议审议通过了《关于 公司2025年半年度报告的议案》等多项议案。 ...

Group 1 - The core viewpoint of the article highlights that Shanghai Womai (600822.SH) reported a significant decline in its financial performance for the first half of 2025, with a revenue of 892 million yuan, representing a year-on-year decrease of 63.33% [1] - The company's net profit attributable to shareholders was 14.85 million yuan, down 45.25% year-on-year [1] - The net profit after deducting non-recurring items was 5.13 million yuan, reflecting a year-on-year decline of 39.58% [1]

证券代码：600822 证券简称：上海物贸 编号：临 2025-030 900927 物贸B股 上海物资贸易股份有限公司 第十届董事会第二十次会议决议公告 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 公司第十届董事会第二十次会议于2025年8月29日下午以通讯表决方式召开。 会议通知和材料于2025年8月19日以电子邮件的方式送达全体董事。会议应当出席 的董事9名，实际出席会议的董事9名。本次董事会会议的召开符合《公司法》和 《公司章程》的有关规定。 二、董事会会议审议情况 （一）审议通过了关于公司 2025 年半年度报告的议案。 同意 9 名，反对 0 名，弃权 0 名。 公司 2025 年半年度财务报告已经董事会审计委员会全体审议通过，并提交董 事会审议。 详见公司同时刊载于上海证券报、香港商报和上海证券交易所网站 （www.sse.com.cn）的 2025 年半年度报告全文及摘要。 （二）审议通过了关于增补非独立董事任波为公司第十届董事会薪酬与考核 委员会委员的议案。 同意 9 名，反对 0 ...