Core Viewpoint - The stock of Jiacheng International (603535) has shown a slight increase, with a closing price of 11.39 yuan on September 5, 2025, reflecting a 1.52% rise, amidst mixed capital flows from different investor groups [1][2]. Capital Flow Summary - On September 5, 2025, the net inflow of main funds was 12.52 million yuan, accounting for 19.36% of the total transaction amount, while retail investors experienced a net outflow of 6.63 million yuan, representing 10.26% of the total [1][2]. - Over the past five days, the stock has seen fluctuating capital flows, with notable net outflows from retail investors on September 1 and September 2, totaling 16.87 million yuan and 18.65 million yuan respectively [2]. Company Performance Metrics - Jiacheng International's total market value is 5.819 billion yuan, with a net asset of 2.722 billion yuan and a net profit of 118 million yuan, ranking 28th, 33rd, and 27th respectively in the logistics industry [3]. - The company reported a year-on-year revenue increase of 3.93% to 683 million yuan for the first half of 2025, with a net profit of 118 million yuan, reflecting a 0.29% increase [3]. - The gross profit margin stands at 33.62%, significantly higher than the industry average of 14.56%, indicating strong operational efficiency [3].

Core Viewpoint - The company has signed a tripartite supervision agreement for the storage of raised funds to ensure proper usage and efficiency of the remaining funds from a completed project, reallocating approximately 239.89 million yuan to a new project [1][2]. Group 1: Fund Management - The company has decided to change the use of the remaining raised funds of 239.88 million yuan from the completed cross-border e-commerce smart logistics center project to the "Free Trade Port Cloud Intelligence International Distribution Center" project [1]. - A tripartite supervision agreement has been signed among the company, its subsidiary, the underwriting institution, and two banks to regulate the management of the raised funds [2][4]. - The agreement stipulates that the underwriting institution will supervise the usage of the raised funds and conduct semi-annual inspections [2][4]. Group 2: Fund Usage and Return - The company has approved the temporary use of idle raised funds amounting to no more than 295 million yuan to supplement working capital for a period not exceeding 12 months [7][8]. - The company has successfully returned all the temporarily used idle funds back to the dedicated storage account, ensuring that the investment plans remain unaffected [8].

Core Viewpoint - The stock of Jiacheng International (603535) has experienced a decline, with significant net outflows from major funds, indicating potential concerns among institutional investors [1][2]. Group 1: Stock Performance - As of September 2, 2025, Jiacheng International closed at 11.5 yuan, down 2.46% with a turnover rate of 1.99% and a trading volume of 101,900 hands, resulting in a transaction amount of 117 million yuan [1]. - Over the past five days, the stock has shown a consistent downward trend, with the largest net outflow from major funds recorded at 2,492.77 million yuan on August 29, 2025, and a total of 1864.86 million yuan on September 2, 2025 [2]. Group 2: Fund Flow Analysis - On September 2, 2025, the net outflow of major funds was 1864.86 million yuan, accounting for 15.87% of the total transaction amount, while retail investors saw a net inflow of 857.45 million yuan, representing 7.3% of the total [1][2]. - The data indicates a trend where major funds have consistently withdrawn from the stock, with net outflows recorded on all five days leading up to September 2, 2025 [2]. Group 3: Company Financials - Jiacheng International reported a total revenue of 683 million yuan for the first half of 2025, reflecting a year-on-year increase of 3.93%, while the net profit attributable to shareholders was 118 million yuan, up 0.29% year-on-year [3]. - The company’s second-quarter performance showed a revenue of 398 million yuan, a 9.0% increase year-on-year, and a net profit of 55.77 million yuan, up 6.21% year-on-year [3]. - Key financial metrics include a total market value of 5.876 billion yuan, a net asset of 2.722 billion yuan, and a debt ratio of 44.47% [3].

Core Viewpoint - The company has decided to temporarily use idle raised funds amounting to RMB 295 million for supplementing working capital, with a repayment plan in place within 12 months [1][2]. Group 1: Fund Usage - The company approved the use of idle raised funds totaling RMB 295 million to temporarily supplement working capital [1]. - The usage period for these funds is not to exceed 12 months from the date of the board meeting approval [1]. - The company has received a clear consent from the sponsor institution regarding the temporary use of these funds [1]. Group 2: Fund Management - During the period of using idle raised funds, the company has arranged and utilized the funds reasonably, ensuring that the investment plans remain unaffected [2]. - The company has fully repaid the RMB 295 million used for temporary working capital back to the dedicated raised funds account [2]. - The company has promptly notified the sponsor institution about the repayment of the funds [2].

Core Viewpoint - Guangzhou Jiacheng International Logistics Co., Ltd. has announced the reallocation of remaining fundraising of 239.8882 million yuan from the completed cross-border e-commerce smart logistics center project to the "Free Trade Port Cloud Intelligence International Distribution Center" project to ensure the efficient use of raised funds [1] Fundraising Management - The company has signed a tripartite supervision agreement for the management of raised funds with Guotai Junan Securities Co., Ltd. and two banks: Industrial and Commercial Bank of China and Ping An Bank [1][2] - The new bank accounts for the fundraising are opened at Industrial and Commercial Bank of China and Ping An Bank, with both the company and its subsidiary involved in the account management [2] Supervision and Compliance - The tripartite supervision agreement outlines that the supervising party (Guotai Junan Securities) will conduct semi-annual inspections of the fundraising usage and storage, ensuring compliance with regulatory requirements [3][4] - The agreement is effective until all funds are fully utilized and the accounts are closed or terminated by mutual consent [3][4]

特此公告。 广州市嘉诚国际物流股份有限公司 | 证券代码：603535 | 证券简称：嘉诚国际 | 公告编号：2025-041 | | --- | --- | --- | | 债券代码：113656 | 债券简称：嘉诚转债 | | 广州市嘉诚国际物流股份有限公司关于 提前归还暂时补充流动资金的闲置募集资金的公告 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个别及连带责任。 广州市嘉诚国际物流股份有限公司（以下简称"公司"）召开第五届董事会 第十四次会议、第五届监事会第十一次会议，审议通过《关于使用暂时闲置募集 资金临时补充流动资金的议案》，同意公司使用总额不超过人民币 29,500 万元的 暂时闲置募集资金临时补充流动资金，使用期限不超过第五届董事会第十四次会 议审议通过之日起 12 个月，保荐机构就公司使用暂时闲置募集资金临时补充流 动资金事项出具了明确同意的专项核查意见。有关上述事项的《关于使用暂时闲 置募集资金临时补充流动资金的公告》（公告编号：2024-030）已刊登在指定媒 体及上海证券交易所网站。 公司在闲置募集资金暂时补 ...

广州市嘉诚国际物流股份有限公司 关于签订募集资金专户存储三方监管协议的公告 本公司及董事会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个别及连带 责任。 根据 2025 年 4 月 22 日召开广州市嘉诚国际物流股份有限公司（以下简称"公 司"）2025 年第一次临时股东会及 2025 年第一次债券持有人会议审议通过，鉴 于原募投项目跨境电商智慧物流中心及配套建设已结项，为保证募集资金规范使 用、提高募集资金使用效率，将该项目剩余募集资金 23,988.82 万元变更调整用 于"自贸港云智国际分拨中心"项目。公司将继续对变更后募集资金进行专户存 储管理。 一、 《募集资金专户存储三方监管协议》的签订情况和募集资金专户的开立情 况 为规范募集资金管理，保护中小投资者的权益，根据中国证监会《上市公司 募集资金监管规则》（2025 年）《上海证券交易所上市公司自律监管指引第 1 号——规范运作》等法律法规要求，公司及子公司嘉诚国际网络科技供应链（三 亚）有限公司（以下简称"嘉诚三亚"）与国泰海通证券股份有限公司（保荐机 构，原名国泰君安证券股份有限公司， ...

| 证券代码：603535 | 证券简称：嘉诚国际 | 公告编号：2025-040 | | --- | --- | --- | | 债券代码：113656 | 债券简称：嘉诚转债 | | 广州市嘉诚国际物流股份有限公司 关于全资子公司获得银行授信暨提供担保的公告 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个别及连带 责任。 重要内容提示： ●被担保人名称：广州市大金供应链管理有限公司（以下简称"大金供应链"）； 天运国际科技供应链（海南）有限公司（以下简称"天运海南"）。 ●本次担保金额：广州市嘉诚国际物流股份有限公司（以下简称"公司"）为全 资子公司大金供应链、天运海南向银行申请授信额度提供担保责任，担保金额分 别为人民币 5,000.00 万元、32,500.00 万元。 ●本次担保不存在反担保。 ●截至本公告披露日，公司无对外担保逾期情况。 公司全资子公司大金供应链、天运海南，为满足日常经营的资金需求，中国 银行股份有限公司广东自贸试验区南沙分行（以下简称"中国银行"）向大金供 应链提供金额为 5,000.00 万元的流动资金 ...

Core Insights - 嘉诚国际 (603535) reported a total revenue of 683 million yuan for the first half of 2025, reflecting a year-on-year increase of 3.93% [1] - The company's net profit attributable to shareholders remained at 118 million yuan, with a slight increase of 0.29% year-on-year [1] - The company has a significant accounts receivable issue, with accounts receivable amounting to 754 million yuan, which is 368.43% of the net profit [1][4] Financial Performance - Total revenue for 2025 was 683 million yuan, compared to 657 million yuan in 2024, marking a 3.93% increase [1] - The gross profit margin decreased to 33.62%, down 5.06% year-on-year, while the net profit margin fell to 17.41%, a decrease of 2.95% [1] - Total expenses (selling, administrative, and financial) amounted to 66.4 million yuan, accounting for 9.73% of revenue, which is a decrease of 10.96% year-on-year [1] Cash Flow and Debt - The net cash flow from operating activities increased by 57.5%, attributed to improved collections from the comprehensive logistics business [3] - The company’s interest-bearing debt rose to 1.465 billion yuan, an increase of 14.11% year-on-year [1][2] - The cash position is concerning, with cash and cash equivalents representing only 8.88% of total assets and 60.68% of current liabilities [4] Business Operations - The increase in revenue is driven by new business initiatives and growth in comprehensive logistics services [2] - Management expenses decreased by 14.11% due to optimization of personnel structure [3] - The company’s return on invested capital (ROIC) was 6.75%, indicating average capital returns, with a historical median ROIC of 8.98% since its listing [3] Market Position - The largest fund holding 嘉诚国际 is 富国可转债A, which has a scale of 1.524 billion yuan and has seen a 32.08% increase over the past year [4] - The company’s reliance on capital expenditure for performance improvement necessitates careful monitoring of capital projects and associated financial pressures [3]

Core Viewpoint - As of August 27, 2025, Jiacheng International (603535) closed at 12.57 yuan, down 3.23%, with a trading volume of 142,500 hands and a transaction amount of 182 million yuan [1] Group 1: Stock Performance and Trading Data - On August 27, 2025, the net inflow of main funds was 8.9736 million yuan, accounting for 4.92% of the total transaction amount [1] - Retail investors experienced a net outflow of 13.6011 million yuan, representing 7.45% of the total transaction amount [1] - Over the past five days, the stock price fluctuated, with a peak closing price of 12.99 yuan on August 26, 2025, reflecting a 3.51% increase [2] Group 2: Financial Performance and Industry Comparison - Jiacheng International reported a total revenue of 683 million yuan for the first half of 2025, a year-on-year increase of 3.93% [3] - The net profit attributable to shareholders was 118 million yuan, up 0.29% year-on-year, while the non-recurring net profit decreased by 2.13% to 116 million yuan [3] - The company’s gross profit margin stood at 33.62%, significantly higher than the industry average of 14.82%, ranking 5th in the logistics sector [3]