证券代码：600826 证券简称：兰生股份 公告编号：临 2025-019 一、 通过分配方案的股东会届次和日期 本次利润分配方案经东浩兰生会展集团股份有限公司（以下简称"公司"）2025 年 5 月 23 日的2024年年度股东会审议通过。 东浩兰生会展集团股份有限公司 2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.22元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/23 | － | 2025/6/24 | 2025/6/24 | 差异化分红送转： 是 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 本次涉及差异化权益分派，公司回购专用证券账户不参与本次权益分派。 3. 差异化分 ...

Investment Rating - The report rates the social services industry as "Overweight" indicating a positive outlook for the sector [4]. Core Insights - The report highlights the resurgence of instant film photography, particularly the popularity of "Peel Apart" film and the new "Life Four Frames" photo booths, driven by nostalgia and unique consumer experiences [5][11]. - The scarcity of Peel Apart film, with global inventory dropping below 500,000 boxes, has led to a dramatic price increase, with prices soaring from around 65-70 RMB per pack to 2800-3300 RMB on second-hand platforms, earning it the nickname "Paper Moutai" [9][11]. - The "Life Four Frames" photo booths have modernized the traditional photo booth experience, offering various backgrounds and instant photo printing, appealing to younger consumers [11][12]. Summary by Sections 1. New Trends in Photography - Peel Apart film has gained immense popularity due to its unique aesthetic and the limited availability of products from major manufacturers like Polaroid and Fujifilm, which have ceased production [8][9]. - The "Life Four Frames" photo booths have evolved from traditional photo booths, providing a more interactive and customizable experience for users [11]. 2. Market Performance Review - The social services sector saw a 2.09% increase in its index from June 2 to June 6, outperforming the broader market [13]. - Key stocks in the social services sector, such as ST United and Jinling Hotel, experienced significant gains, with increases of 21.46% and 11.87% respectively [18]. 3. Company Announcements - Companies in the retail and social services sectors are actively engaging in stock buybacks and shareholder reduction plans, indicating a focus on enhancing shareholder value [26][27]. 4. Industry Developments - The report notes significant developments in the social services industry, including record passenger numbers during the Dragon Boat Festival, showcasing a recovery in travel and tourism [30]. - The introduction of new technologies and partnerships, such as the investment in Acai Travel by Amadeus, reflects ongoing innovation within the industry [30]. 5. Valuation of Key Companies - The report provides a detailed valuation of key companies in the human resources, tourism, and hotel sectors, indicating a favorable outlook for these industries as they recover from previous downturns [32][33].

Investment Rating - Industry rating: Recommended [4] Core Insights - The report highlights a robust growth in visitor numbers during the Dragon Boat Festival, with a projected total of 6.87 billion trips, reflecting a year-on-year increase of 3.0% [1][18] - The demand for family-oriented travel has surged, particularly for short-distance self-driving trips and parent-child tours, with bookings for parent-child group tours increasing by 80% year-on-year [1][2] - The launch of new products by Lao Pu Gold, such as the Seven Sons Gourd, is expected to drive high demand in the fashion gold jewelry sector, despite a tightening overall consumption environment [2] Summary by Sections 1. Market Review - The consumer service index and retail index outperformed the CSI 300 index, with significant gains in the jewelry and watch sector [11] - The report notes a 5.1% year-on-year increase in total retail sales in April, with jewelry sales growing by 25.3% [36][50] 2. Industry & Company Dynamics - The report discusses the increase in domestic tourism, with various regions reporting significant visitor numbers during the holiday period [18][19] - Lao Pu Gold's new product launch is positioned to capture the growing trend in fashion jewelry, appealing to consumer sentiment and aesthetic preferences [2][3] 3. Macro & Industry Data - April's retail sales data indicates a stable growth trajectory, with online retail sales showing a 5.8% year-on-year increase [37] - The report provides insights into the gold jewelry market, noting a decline in overall gold consumption but an increase in gold bars and coins [52][55] 4. Investment Recommendations - The report suggests five investment themes, including the revival of traditional retail formats, the rise of AI technology applications, and the potential for new retail sectors to outperform expectations [59][61]

Core Viewpoint - The New Fortune Golden Secretary Award has become a benchmark in China's capital market, reflecting the significant development and transformation of the industry over the past 21 years, with award-winning secretaries playing a crucial role in enhancing corporate governance and investor relations management [1] Group 1: Company Overview - Donghao Lansheng Exhibition Group Co., Ltd. (600826.SH) is a comprehensive state-controlled listed company that integrates industrial operations and capital operations, focusing on the entire industry chain of the exhibition industry [3] - The company actively supports national strategies and urban development by hosting significant exhibitions, conferences, and events, such as the China International Industry Fair and the World Artificial Intelligence Conference [3] Group 2: Leadership and Management - Zhang Rongjian, the Secretary of the Board and Vice President, emphasizes his role as a strategic advisor and value enhancer for the company, aiming to solidify the foundation for high-quality development [3][5] - Under Zhang's leadership, the company has implemented effective governance, capital operations, and investor relations management, earning the title of "New Fortune Golden Secretary" [3] Group 3: Financial Performance - In 2024, the company achieved a revenue of 1.643 billion yuan, a year-on-year increase of 15.58%, and a net profit attributable to shareholders of 307 million yuan, up 11.44% [6] Group 4: Investor Relations Management - The company prioritizes investor relations, utilizing various platforms to communicate its value to the capital market, including innovative activities that align with its business characteristics [10] - The annual performance briefing combined with a newly acquired pet exhibition received positive feedback from investors, showcasing the company's commitment to transparency and engagement [10] Group 5: Value Return and Shareholder Engagement - The company has adopted a "investor-centric" approach, implementing measures such as cash dividends, share buybacks, and high-quality information disclosure to protect investor rights [12] - In 2024, the cash dividend ratio reached 66.08%, with a commitment to maintain a minimum of 50% in the next three years [12] Group 6: ESG Initiatives - The company integrates ESG principles into its development strategy, establishing a clear management framework and disclosing its first ESG report in 2025, which highlights its governance and social responsibility practices [13] - The company's ESG rating improved from B to A, indicating its leading position in the industry [13] Group 7: Future Outlook - The company aims to deepen its focus on the exhibition and event sectors, particularly in artificial intelligence, sports events, and the pet economy, to enhance its core competitiveness [15] - The company is committed to becoming an internationally recognized exhibition service brand, contributing to Shanghai's development as a global exhibition city [15]

Investment Rating - The report maintains an "Outperform" rating for the social services industry [1] Core Insights - The overall revenue of the sector is steadily increasing, but the recovery in performance is slower, with significant differentiation among sub-sectors. Attention is recommended for cyclical recovery sectors such as human resources and exhibitions, as well as resilient sectors like tourism and scenic spots [1][2] - In 2024, the social services sector achieved a total revenue of 191.54 billion, a year-on-year increase of 36.57%, while the net profit attributable to shareholders was 7.48 billion, a year-on-year decrease of 18.21%. The overall profitability has declined [10][14] - In Q1 2025, the sector generated a revenue of 44.84 billion, a year-on-year increase of 38.75%, with a net profit of 1.81 billion, a year-on-year increase of 33.06% [20][22] Summary by Sections Sector Summary - The revenue growth rate outperformed the profit growth rate, with the professional services and education sectors performing better. In 2024, the professional services sector saw a year-on-year increase of 79.57%, while the education sector's profit level improved significantly [10][14] - In Q1 2025, the professional services sector led with a revenue growth of 89.62%, followed by tourism and scenic spots at 7.39% [22] Tourism - The domestic travel market shows strong resilience, with a total of 5.615 billion domestic tourists in 2024, a year-on-year increase of 14.80% [34] - The cross-border travel market is experiencing high demand, with inbound tourists reaching 132 million in 2024, a year-on-year increase of 60.8% [40] Hotels - Business travel demand is still recovering, with the RevPAR expected to be under pressure throughout 2024 [13] Catering - The catering market is expected to see slower revenue growth in 2024, with Q1 2025 showing some improvement [16] Duty-Free - Duty-free sales in offshore areas are showing marginal improvement, with city channels expected to contribute to growth [18] Human Resources - The human resources sector is experiencing stable data operations, but employment market pressures remain [22] Exhibitions - The domestic exhibition market is steadily growing, with the number of exhibitions remaining stable in 2024 [24]

Meeting Details - The shareholders' meeting of Donghao Lansheng Exhibition Group Co., Ltd. was held on May 23, 2025, at the Shanghai World Expo Exhibition and Convention Center [1] - The meeting was presided over by Chairman Chen Xiaohong, with attendance from directors, supervisors, senior management, and legal representatives [1] Voting Results - All non-cumulative voting proposals were approved with significant support, including: - 99.8729% of A-share shareholders voted in favor of the first proposal, with 483,997,136 votes for, 506,086 against, and 110,040 abstentions [1] - The second proposal received 99.8889% approval, with 484,074,916 votes for, 520,286 against, and 18,060 abstentions [1] - The third proposal had 99.8887% approval, with 484,074,116 votes for, 480,790 against, and 58,356 abstentions [1] Major Proposals - The meeting included discussions on significant matters such as: - The mid-year dividend distribution plan for 2025 [3] - The use of idle funds for financial management [3] - Annual routine related party transactions [3] - The shareholder return plan for the years 2025 to 2027 [3] Legal Compliance - The meeting's procedures were confirmed to comply with relevant laws, regulations, and the company's articles of association, ensuring the legitimacy of the attendees and the voting process [3]

Core Viewpoint - The legal opinion confirms that the convening and holding of the 2024 annual shareholders' meeting of Donghao Lansheng Exhibition Group Co., Ltd. complies with relevant laws, regulations, and the company's articles of association [1][11]. Group 1: Meeting Procedures - The shareholders' meeting was convened by the board of directors in accordance with the company's articles of association, with proper notification to registered shareholders [2]. - The meeting was held on May 23, 2025, at the Shanghai World Expo Exhibition and Convention Center, combining both on-site and online voting methods [2][3]. - The voting time for the online platform was from 9:15 AM to 3:00 PM on May 23, 2025 [3]. Group 2: Attendance and Voting - A total of 317 participants attended the meeting, representing 484,613,262 shares, which accounted for 66.9186% of the total voting shares [3]. - The meeting included company directors, supervisors, and legal representatives, all of whom met the qualifications as per relevant laws and the company's articles of association [3][4]. Group 3: Resolutions and Voting Results - The meeting discussed several resolutions, including a shareholder return plan for the year 2024, with no special resolutions proposed [4]. - The voting results showed overwhelming support for the resolutions, with the majority of votes in favor: 483,997,136 shares (99.8729%) for one resolution, and similar high approval rates for others [5][10]. - The voting results for minority investors also reflected strong support, with 97.5742% in favor for one of the resolutions [5][10].

致：东浩兰生会展集团股份有限公司 北京市通商律师事务所上海分所接受东浩兰生会展集团股份有限公司（以下 简称"公司"）的委托，指派郝红颖律师、张雨茜律师（以下简称"本所律师"） 出席公司2024年年度股东会（以下简称"本次股东会"），并依据《中华人民共 和国证券法》《中华人民共和国公司法》等法律法规，以及《东浩兰生会展集团 股份有限公司章程》（以下简称"《公司章程》"）出具本法律意见书。 本所律师根据有关法律法规以及《公司章程》的规定，就本次股东会的召集、 召开程序；出席会议人员资格、召集人资格；本次股东会表决程序、表决结果的 合法有效性发表法律意见。 北京市通商律师事务所上海分所 本所律师仅依据本法律意见书签发日之前所发生的事实，并基于对该项事实 的认识以及对于有关法律法规以及《公司章程》的理解发表本意见。本法律意见 不涉及本次股东会议案内容以及此间所涉及事实的真实性、准确性。 本所律师同意将本法律意见书作为公司本次股东会的必备文件进行公告，并 依法对本所出具的法律意见承担责任。未经本所同意，本法律意见书不得用于任 何其他目的。 本所律师按照律师行业公认的业务标准、道德规范，对公司提供的有关文件、 资料进行了 ...

证券代码：600826 证券简称：兰生股份 公告编号：2025-017 东浩兰生会展集团股份有限公司 2024年年度股东会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 5 月 23 日 (二)股东大会召开的地点：上海市浦东新区博成路 850 号上海世博展览馆 B2 层 5 号会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 317 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 484,613,262 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 66.9186 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，公司董事、监事、高级管理人员及北京市通商 律师事务所上海分所律师出席了会议，陈小宏董事长 ...

Core Viewpoint - The company aims to enhance its core business and expand its market presence through strategic initiatives, focusing on high-quality development in the exhibition and event industry, while also emphasizing digital transformation and international expansion [1][12][17]. Financial Performance - In 2024, the company achieved a revenue of 1.643 billion yuan, representing a year-on-year growth of 15.58%, and a net profit of 307 million yuan, up 11.44% from the previous year [1]. - The company’s earnings per share reached 0.49 yuan, with a return on equity of 7.58% [1]. Exhibition and Event Management - The company hosted 59 exhibition projects in 2024, an increase of 18% year-on-year, with a total exhibition area of 1.24 million square meters and serving 1.91 million visitors [2]. - The Shanghai World Artificial Intelligence Conference was rebranded to enhance its global influence, achieving record attendance and engagement [3]. Strategic Initiatives - The company is focusing on two main strategies: "Exhibition China" and "Digital Exhibition," driving growth through both internal development and external acquisitions [1][6]. - Plans for 2025 include enhancing the company's core business ecosystem centered around major events like the World Artificial Intelligence Conference and Shanghai Marathon [12][13]. Digital Transformation - The company is advancing its digital capabilities by developing a comprehensive digital exhibition management system and enhancing its digital service offerings [6][7]. - The "Digital Expo" platform has been revamped to improve interaction between enterprises and audiences, integrating online and offline experiences [7]. Governance and Shareholder Engagement - The company has maintained a cash dividend ratio exceeding 50% for five consecutive years, with a proposed cash dividend of 2.20 yuan per 10 shares for 2024 [8][26]. - The company has implemented a share buyback plan, repurchasing 11.35 million shares, totaling over 100 million yuan [8][26]. ESG and Compliance - The company is committed to enhancing its ESG framework, integrating sustainability into its management practices, and has established a dedicated ESG management structure [9][15]. - The company has received recognition for its governance practices, including an A-level rating for information disclosure from the Shanghai Stock Exchange [8].