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 October 16, 2025, Jiacheng International closed at 10.73 yuan, down 1.83% with a turnover rate of 0.96% and a trading volume of 48,900 lots, amounting to a transaction value of 52.69 million yuan [1]. - Over the past five days, the stock has shown a downward trend, with a notable drop of 3.68% on October 13, 2025, and a total net outflow of major funds reaching 4.15 million yuan on October 16, 2025 [2]. Group 2: Fund Flow Analysis - On October 16, 2025, major funds had a net outflow of 415.09 thousand yuan, accounting for 7.88% of the total transaction value, while retail investors saw a net outflow of 38.7 thousand yuan, representing 0.73% of the total [1][2]. - In contrast, speculative funds recorded a net inflow of 453.78 thousand yuan, which is 8.61% of the total transaction value on the same day [1][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%, with a net profit attributable to shareholders of 118 million yuan, up 0.29% year-on-year [3]. - The company's gross profit margin stands at 33.62%, significantly higher than the industry average of 14.56%, indicating strong operational efficiency [3]. - The company has a debt ratio of 44.47% and reported investment income of 1.31 million yuan, with financial expenses amounting to 23.11 million yuan [3].

Group 1 - The core point of the news is that 嘉诚国际 (Jiacheng International) experienced a decline of 5.08% in its stock price, reaching 10.84 CNY per share, with a trading volume of 81.91 million CNY and a turnover rate of 1.46%, resulting in a total market capitalization of 5.538 billion CNY [1] - 嘉诚国际 is located in Nansha District, Guangzhou, Guangdong Province, and was established on October 24, 2000. The company went public on August 8, 2017, and its main business involves providing customized logistics solutions and integrated supply chain logistics services for manufacturing clients [1] - The revenue composition of 嘉诚国际 includes comprehensive logistics at 81.79%, supply chain distribution execution at 42.91%, and agency procurement at 0.14% [1] Group 2 - 富国优化增强债券C (Fuguo Optimized Enhanced Bond C) is among the top ten circulating shareholders of 嘉诚国际, having entered the list in the second quarter with 2.1929 million shares, accounting for 0.46% of the circulating shares. The estimated floating loss today is approximately 1.2719 million CNY [2] - 富国优化增强债券C was established on June 10, 2009, with a latest scale of 553 million CNY. Year-to-date returns are 18.91%, ranking 109 out of 6587 in its category, while the one-year return is 29.24%, ranking 68 out of 6336. Since inception, the return is 140.72% [2] Group 3 - The fund manager of 富国优化增强债券C is 刘兴旺 (Liu Xingwang), who has a cumulative tenure of 14 years and 251 days. The total asset scale of the fund is 15.234 billion CNY, with the best fund return during his tenure being 57.89% and the worst being 0.3% [3]

Core Insights - As of October 9, 2025, Jiacheng International (603535) closed at 11.41 yuan, down 2.73% with a turnover rate of 1.87% and a trading volume of 95,400 hands, resulting in a transaction amount of 110 million yuan [1] Fund Flow Analysis - On October 9, 2025, the net outflow of main funds was 29,700 yuan, accounting for 0.03% of the total transaction amount, while the net inflow of speculative funds was 2.8246 million yuan, representing 2.57% of the total transaction amount. Retail investors experienced a net outflow of 2.7949 million yuan, which is 2.55% of the total transaction amount [1] - The fund flow over the past five days shows fluctuations in net inflows and outflows among main, speculative, and retail investors, with notable changes in the net inflow of speculative funds and net outflow of main funds [2] Company Performance Metrics - Jiacheng International's key performance indicators compared to industry averages are as follows: - Total market value: 5.83 billion yuan (industry average: 17.433 billion yuan, ranking 28th out of 54) - Net assets: 2.722 billion yuan (industry average: 13.654 billion yuan, ranking 33rd out of 54) - Net profit: 118 million yuan (industry average: 496 million yuan, ranking 27th out of 54) - Price-to-earnings ratio (dynamic): 24.65 (industry average: 9.69, ranking 23rd out of 54) - Price-to-book ratio: 2.24 (industry average: 2.67, ranking 36th out of 54) - Gross margin: 33.62% (industry average: 14.56%, ranking 5th out of 54) - Net margin: 17.41% (industry average: 5.74%, ranking 5th out of 54) - Return on equity (ROE): 4.41% (industry average: 2.8%, ranking 18th out of 54) [3] - In the 2025 mid-year report, Jiacheng International reported a main revenue of 683 million yuan, a year-on-year increase of 3.93%, and a net profit attributable to shareholders of 118 million yuan, a year-on-year increase of 0.29%. The second quarter showed a main revenue of 398 million yuan, a year-on-year increase of 9.0% [3]

Core Viewpoint - As of September 22, 2025, Jiacheng International (603535) closed at 12.24 yuan, down 1.13%, with a trading volume of 51,700 hands and a transaction amount of 63.15 million yuan [1] Group 1: Stock Performance and Trading Data - On September 22, 2025, the net outflow of main funds was 2.71 million yuan, accounting for 4.29% of the total transaction amount, while retail investors had a net inflow of 4.32 million yuan, representing 6.85% of the total transaction amount [1] - Over the past five days, the stock experienced fluctuations, with a peak closing price of 12.80 yuan on September 16, 2025, and a subsequent decline [2] Group 2: Financial Metrics and Industry Comparison - Jiacheng International's total market value is 6.254 billion yuan, with a net asset of 2.722 billion yuan and a net profit of 118 million yuan, ranking 26th, 33rd, and 27th respectively in the logistics industry [3] - The company reported a gross profit margin of 33.62% and a net profit margin of 17.41%, both ranking 5th in the industry [3] - For the first half of 2025, the company's main revenue was 683 million yuan, a year-on-year increase of 3.93%, while the net profit attributable to shareholders was 118 million yuan, a slight increase of 0.29% [3]

Core Viewpoint - Jiacheng International (603535) has experienced a slight decline in stock price, closing at 12.38 yuan, down 0.32% from the previous week, with a current market capitalization of 6.325 billion yuan [1] Company Announcements - Jiacheng International will participate in the "2025 Guangdong Listed Companies Investor Online Reception Day" and hold a half-year performance briefing on September 19, 2025, from 15:30 to 17:00, allowing for online interaction with investors [1][4] - The management team, including General Manager Huang Ping and other executives, will be present for the event, and investors can submit questions prior to the meeting [1] - The company has signed a tripartite supervision agreement for the storage of raised funds, reallocating remaining funds from the completed cross-border e-commerce smart logistics center project to the "Free Trade Port Cloud Intelligence International Distribution Center" project [2][4] Financial Management - The remaining raised funds amounting to 51.8535 million yuan will be reserved for contract final payments and warranty funds, managed by the wholly-owned subsidiary, Guangzhou Dajin Supply Chain Management Co., Ltd. [2] - The tripartite agreement involves Guotai Junan Securities Co., Ltd. and Ping An Bank Co., Ltd., ensuring compliance with relevant laws and regulations, with semi-annual inspections of fund usage [2]

Core Viewpoint - As of September 17, 2025, Jiacheng International (603535) closed at 12.57 yuan, down 1.8%, with a trading volume of 72,900 hands and a transaction amount of 91.72 million yuan [1] Group 1: Stock Performance - On September 17, 2025, the net outflow of main funds was 10.62 million yuan, accounting for 11.58% of the total transaction amount [1] - Retail investors had a net inflow of 4.11 million yuan, representing 4.48% of the total transaction amount [1] - Over the past five days, the stock experienced fluctuations, with a peak closing price of 12.80 yuan on September 16, 2025, reflecting a 3.90% increase [2] Group 2: Financial Metrics - Jiacheng International's total market value is 6.422 billion yuan, with a net asset of 2.722 billion yuan and a net profit of 118 million yuan [3] - The company's revenue for the first half of 2025 was 683 million yuan, a year-on-year increase of 3.93%, while the net profit increased by 0.29% to 118 million yuan [3] - The gross profit margin stands at 33.62%, significantly higher than the industry average of 14.56% [3] Group 3: Industry Comparison - Jiacheng International ranks 26th in total market value and 33rd in net assets within the logistics industry [3] - The company's price-to-earnings ratio (27.16) is considerably higher than the industry average (8.48), indicating a potential overvaluation [3] - The return on equity (ROE) for Jiacheng International is 4.41%, outperforming the industry average of 2.8% [3]

Group 1 - The core point of the article is that Jiacheng International (603535) has signed a tripartite supervision agreement for the storage of raised funds, reallocating remaining funds from a completed project to a new project [1][2] - As of September 16, 2025, Jiacheng International's stock closed at 12.8 yuan, up 3.9% from the previous trading day, with a total market value of 6.54 billion yuan [1] - The company will reserve 51.8535 million yuan for the original project's contract tail payment and warranty, to be executed by its wholly-owned subsidiary, Guangzhou Dajin Supply Chain Management Co., Ltd. [1] Group 2 - The tripartite supervision agreement involves Jiacheng International, Guotai Junan Securities Co., Ltd., and Ping An Bank Co., Ltd. Guangzhou Branch, with the account opened at Ping An Bank [2] - The agreement stipulates that the supervising institution will conduct on-site inspections of the company's fund storage and usage every six months [2] - The agreement will be effective upon signing and will remain in effect until all funds are spent and the account is closed or terminated by mutual agreement [2]

| 证券代码：603535 | 证券简称：嘉诚国际 | 公告编号：2025-047 | | --- | --- | --- | | 债券代码：113656 | 债券简称：嘉诚转债 | | 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对近期的经营成果具体情 况与投资者进行互动交流和沟通，在信息披露允许的范围内就投资者普遍关注的 问题进行回答。 二、说明会召开的时间、地点 （一） 会议召开时间：2025 年 9 月 19 日下午 15:30-17:00 （二） 会议召开地点：全景·路演天下（网址：http://rs.p5w.net） 广州市嘉诚国际物流股份有限公司 关于参加 2025 年广东辖区上市公司投资者网上集体 接待日活动暨召开 2025 年半年度业绩说明会的公告 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： 投 资 者 可 在 2025 年 9 月 19 日 （ 周 五 ） 15:30 前 访 问 网 址 http://ir.p5w.net/zj/，进入问题征集专题页面登录提问，公司 ...

| 证券代码：603535 | 证券简称：嘉诚国际 | 公告编号：2025-048 | | --- | --- | --- | | 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变更调整用于"自贸港云智 国际分拨中心"项目，公司已将变更后募集资金进行专户存储管理。预留的募集 资金 5,185.35 万元用于原募投项目待支付部分合同尾款及质保金，通过募集资 金专户进行存储管理，由全资子公司广州市大金供应链管理有限公司（以下简称 "大金供应链"）负责执行。 一、 《募集资金专户存储三方监管协议》的签订情况和募 ...

Core Viewpoint - The stock of Jiacheng International (603535) has shown a positive performance with a closing price of 12.8 yuan, reflecting a 3.9% increase as of September 16, 2025, alongside notable trading activity and capital flow dynamics [1][2]. Group 1: Stock Performance and Trading Activity - As of September 16, 2025, Jiacheng International's stock closed at 12.8 yuan, with a trading volume of 119,300 lots and a total transaction value of 150 million yuan [1]. - The capital flow data indicates a net inflow of 9.71 million yuan from main funds, accounting for 6.45% of the total transaction value, while retail investors saw a net inflow of 4.60 million yuan, representing 3.05% of the total [1][2]. - Over the past five days, the stock experienced fluctuations, with a notable increase on September 16 and a previous decline on September 15 [2]. Group 2: Financial Metrics and Industry Comparison - Jiacheng International's total market capitalization is 6.54 billion yuan, with a net asset value of 2.72 billion yuan and a net profit of 118 million yuan, ranking 26th, 33rd, and 27th respectively within the logistics industry [3]. - The company reported a gross margin of 33.62% and a net margin of 17.41%, both significantly higher than the industry averages of 14.56% and 5.74% respectively, indicating strong profitability [3]. - For the first half of 2025, Jiacheng International's main revenue reached 683 million yuan, a year-on-year increase of 3.93%, while the net profit attributable to shareholders was 118 million yuan, reflecting a slight increase of 0.29% [3].