Core Viewpoint - The company Milkwell announced that as of the date of the announcement, the total external guarantees provided by the company and its subsidiaries amounted to RMB 511,303.19 million, which represents 118.42% of the company's most recent audited net assets attributable to shareholders [2] Summary by Relevant Sections - External Guarantees - The total external guarantees provided by the company and its subsidiaries are RMB 511,303.19 million [2] - This amount constitutes 118.42% of the company's latest audited net assets attributable to shareholders [2] - The company has no overdue guarantees [2]

密尔克卫智能供应链服务集团股份有限公司 关于为控股子公司提供担保的公告 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法律责任。 重要内容提示： 担保对象及基本情况 | 担 保 | 对 | 被担保人名称 | 上海密尔克卫化工储存有限公司（以下 简称"密尔克卫化工储存"） | | | | --- | --- | --- | --- | --- | --- | | | | 本次担保金额 | 10,000.00 | 万元 | | | 象一 | | 实际为其提供的担保余额 | 94,600.00 | 万元 | | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | | 担 保 | 对 | 被担保人名称 | "金水会缘"） | | 上海金水会缘酒业有限公司（以下简称 | | | | 本次担保金额 | 1,000.00 | 万元 | | | 象二 | | 实际为其提供的担保余额 | 1,000.00 | 万元 | | ...

Core Viewpoint - Recently, Milkyway (Tianjin) Supply Chain Technology Co., Ltd., a subsidiary of Milkyway (603713.SH), received an administrative penalty from the Tianjin Emergency Management Bureau for non-compliance with national standards regarding the storage of hazardous chemicals, resulting in a fine of 60,000 RMB [1][3]. Company Summary - Milkyway (Tianjin) Supply Chain Technology Co., Ltd. was established on April 13, 2021, with a registered capital of 160 million RMB. The legal representative is Yin Chengliang. The company is primarily involved in the storage and management of hazardous chemicals [9]. - The company is a part of Milkyway's logistics segment in Greater China, providing comprehensive supply chain services, including international and domestic logistics, special logistics, and chemical trading platforms [6]. Financial Performance - In 2024, Milkyway reported a revenue of 12.118 billion RMB, representing a year-on-year growth of 24.26%. For the first quarter of 2025, the revenue was 3.342 billion RMB, showing a year-on-year increase of 15.40% [8]. - The net profit attributable to the parent company for 2024 was 565 million RMB, up 31.04% year-on-year, while the first quarter of 2025 saw a net profit of 172 million RMB, reflecting a year-on-year growth of 14.02% [8]. - The gross profit margin for 2024 was 11.42%, a decrease of 0.34 percentage points, and for the first quarter of 2025, it was 11.61%, down 0.02 percentage points [8].

公司公告汇总 密尔克卫智能供应链服务集团股份有限公司近日与中国银行股份有限公司上海自贸试验区分行签订合 同，为全资子公司上海密尔克卫化工储存有限公司提供8000万元人民币的担保，并承担连带保证责任。 本次担保后，公司及其子公司对外担保余额为521503.19万元，在公司股东会批准的担保额度范围内。 公司于2025年4月13日和2025年5月6日召开的第四届董事会第六次会议和2024年年度股东大会审议通过 了《关于公司2025年度担保额度预计的议案》，同意2025年度担保总额度不超过110亿元，担保时间为 自2024年年度股东大会审议通过之日起12个月。上海密尔克卫化工储存有限公司成立于2000年12月11 日，注册资本14324.725万元人民币，法定代表人为江震，主要经营范围包括危险化学品经营、货物进 出口、技术进出口等。截至2025年3月31日，该公司资产总额为1864215730.97元，负债总额为 887878544.93元，资产净额为976337186.04元，营业收入为177371844.51元，净利润为35146625.02元。 截至本公告披露日，公司及其子公司对外担保余额为521503.19万 ...

证券代码：603713 证券简称：密尔克卫 公告编号：2025-072 转债代码：113658 转债简称：密卫转债 密尔克卫智能供应链服务集团股份有限公司 关于为控股子公司提供担保的公告 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法律责任。 重要内容提示： ● 担保对象及基本情况 （一）担保的基本情况 近日，密尔克卫智能供应链服务集团股份有限公司（以下简称"公司"）与交通银行股份有限公司上海闵 行支行签订合同，为密尔克卫集装罐提供额度为人民币500.00万元的担保，并为其承担连带保证责任； 与中国光大银行股份有限公司上海分行签订合同，为密尔克卫化工物流提供额度为人民币15,000.00万元 的担保，并为其承担连带保证责任。 本次担保事项后，扣除已履行到期的担保，公司及其子公司对外担保余额为人民币512,303.19万元，在 公司股东会批准的担保额度范围内。 （二）内部决策程序 公司分别于2025年4月13日、2025年5月6日召开了第四届董事会第六次会议、2024年年度股东大会审议 通过了《关于公司2025年度担保额度预计的议案》， ...

| 证券代码：603713 | 证券简称：密尔克卫 | 公告编号：2025-072 | | --- | --- | --- | | 转债代码：113658 | 转债简称：密卫转债 | | 密尔克卫智能供应链服务集团股份有限公司 关于为控股子公司提供担保的公告 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法律责任。 重要内容提示： 担保对象及基本情况 | | | 被担保人名称 | 上海密尔克卫集装罐服务有限公司（以 下简称"密尔克卫集装罐"） 500.00 | 万元 | | | --- | --- | --- | --- | --- | --- | | 担 保 | 对 | 本次担保金额 | | | | | 象一 | | 实际为其提供的担保余额 | 500.00 | 万元 | | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | | 担 保 | 对 | 被担保人名称 | 万元 | | 上海密尔克卫化工物流有 ...

Core Insights - The warehouse industry is a critical component of the modern logistics system, providing essential services such as storage, inventory management, sorting, packaging, and distribution, which are vital for the efficient operation of the real economy [1][4] - The demand for warehouses has significantly increased due to the rise of e-commerce and consumption upgrades, leading to a substantial growth in warehouse completion area in recent years [4][6] - In 2023, China's warehouse completion area reached 32.96 million m², an increase of 4.17 million m² compared to 2022, while a projected decrease of 24% is expected in 2024 with a completion area of 25.08 million m² [4][6] Warehouse Industry Definition and Classification - The warehouse industry encompasses the operation of logistics infrastructure that provides storage, custody, sorting, distribution, and related value-added services, forming a core part of the modern supply chain [2] - Warehouses can be classified based on operational entities (third-party, self-operated, public, and platform-based cloud warehouses), functional purposes (storage, circulation, and specialized warehouses), and technological levels (traditional, automated, intelligent, and digital twin warehouses) [2] Current Development Status - The general warehouse area in China has been on a growth trend, with the total area expected to reach approximately 1 billion m² by 2024, an increase of 517 million m² from 2023 [6] - The rental area of general warehouses is 54.898 million m², with 1.722 million m² currently under construction and a total of 40,274 warehouse parks [6][8] Industry Chain - The warehouse industry chain revolves around the core link of "goods storage and circulation," involving a wide range of upstream and downstream related industries [10] - Upstream includes suppliers of storage infrastructure and equipment, while midstream consists of warehouse service operations, and downstream includes demand from manufacturing, retail, e-commerce, and logistics sectors [10][11] Competitive Landscape - The warehouse market in China exhibits a multi-tiered differentiation structure, with major players including national logistics giants, specialized logistics real estate companies, and regional small to medium-sized storage enterprises [12] - National logistics giants like JD Logistics, SF Express, and Cainiao Network lead the first tier, while specialized logistics real estate firms like Prologis and Wanwei Logistics occupy the second tier [12] Future Development Trends - The warehouse industry is undergoing a transformation from "scale expansion" to "quality upgrade," with leading companies consolidating their advantages through technological investments and mergers [19] - Future competition in the warehouse industry will focus on intelligence, sustainability, and globalization [19]

| 证券代码：603713 | 证券简称：密尔克卫 | 公告编号：2025-071 | | --- | --- | --- | | 转债代码：113658 | 转债简称：密卫转债 | | 密尔克卫智能供应链服务集团股份有限公司 关于为控股子公司提供担保的公告 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法律责任。 重要内容提示： 担保对象及基本情况 近日，密尔克卫智能供应链服务集团股份有限公司（以下简称"公司"）与 中国银行股份有限公司上海自贸试验区分行签订合同，为密尔克卫化工储存提供 额度为人民币 8,000.00 万元的担保，并为其承担连带保证责任。 本次担保事项后，扣除已履行到期的担保，公司及其子公司对外担保余额为 人民币 521,503.19 万元，在公司股东会批准的担保额度范围内。 （二）内部决策程序 公司分别于 2025 年 4 月 13 日、2025 年 5 月 6 日召开了第四届董事会第六 次会议、2024 年年度股东大会审议通过了《关于公司 2025 年度担保额度预计的 议案》，同意公司 2025 年度担保总额度不超 ...

Summary of Key Points Core Viewpoint - The A-share market experienced significant block trading activity on July 21, with a total transaction volume of 1.717 billion yuan across 75 stocks, indicating notable investor interest in specific companies [1]. Group 1: Trading Activity - A total of 75 stocks had block trades, with a total transaction value of 1.717 billion yuan [1]. - The top three stocks by transaction value were SAIC Motor Group (1.57 billion yuan), Tianwei Food (1.55 billion yuan), and Sifang Co., Ltd. (1.07 billion yuan) [1]. Group 2: Pricing Trends - Among the stocks traded, 10 stocks were sold at par value, 5 at a premium, and 60 at a discount [1]. - The stocks with the highest premium rates were Jiangsu Shentong (2.64%), Jindi Group (1.83%), and Minsheng Bank (1.11%) [1]. - The stocks with the highest discount rates were Langke Intelligent (27.09%), Energy Iron Han (25.78%), and Betta Pharmaceuticals (22.86%) [1]. Group 3: Institutional Trading - The top stocks by institutional buying were SAIC Motor Group (1.57 billion yuan), XCMG Machinery (1.04 billion yuan), and Milky Way (77.6 million yuan) [2]. - The top stocks by institutional selling included North Copper Industry (30.9 million yuan), Jindi Group (15.9 million yuan), and New Strong Link (3.5 million yuan) [2].

| 证券代码：603713 | 证券简称：密尔克卫 | 公告编号：2025-070 | | --- | --- | --- | | 转债代码：113658 | 转债简称：密卫转债 | | 密尔克卫智能供应链服务集团股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的提示性公告 上海演若投资合伙企业（有限合伙）、上海演智投资合伙企业（有限合伙）、 上海演惠投资合伙企业（有限合伙）保证向本公司提供的信息真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一 致。 | | □  | 控股股东/实控人 | | | | --- | --- | --- | --- | --- | | 上海演惠投资合伙企业 | | 控股股东/实控人的一致行 |  | 913100003323439909 | | （有限合伙） | 动人 | | □ | 不适用 | | | □ | 其他直接持股股东 | | | 重要内容提示： | 权益变动方向 | 比例增加□ | | 比例减少 | | --- | --- | --- | --- | | 权益变动前合计比例 | 4 ...