提名人嘉鑫毅（上海）企业管理合伙企业（有限合伙），现提名张兮、李良 锁、王永为嘉友国际物流股份有限公司第四届董事会独立董事候选人，并已充分 了解被提名人职业、学历、职称、详细的工作经历、全部兼职、有无重大失信等 不良记录等情况。被提名人已同意出任嘉友国际物流股份有限公司第四届董事会 独立董事候选人（参见该独立董事候选人声明）。 独立董事提名人声明 提名人认为，被提名人具备独立董事任职资格，与嘉友国际物流股份有限公 司之间不存在任何影响其独立性的关系，具体声明如下： 一、被提名人具备上市公司运作的基本知识，熟悉相关法律、行政法规、规 章及其他规范性文件，具有 5 年以上法律、经济、会计、财务、管理或者其他履 行独立董事职责所必需的工作经验。 被提名人已经参加培训并取得证券交易所认可的相关培训证明材料。 嘉友国际物流股份有限公司 二、被提名人任职资格符合下列法律、行政法规和部门规章以及公司规章的 要求： （一）《中华人民共和国公司法》关于董事任职资格的规定； （二）《中华人民共和国公务员法》关于公务员兼任职务的规定（如适用）； （三）中国证监会《上市公司独立董事管理办法》、上海证券交易所自律监 管规则以及公司章程 ...

Market Overview - On August 28, the logistics sector rose by 1.1%, with YTO Express leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Individual Stock Performance - YTO Express (600233) closed at 18.25, with a gain of 6.17% and a trading volume of 378,700 shares, amounting to a transaction value of 672 million [1] - Milkway (603713) closed at 67.01, up 5.76%, with a trading volume of 39,900 shares and a transaction value of 257 million [1] - Other notable performers include: - Jiayou International (603871) at 12.31, up 3.62% [1] - Jianfa Co. (600153) at 11.69, up 2.81% [1] - SF Express (002352) at 48.40, up 1.02% [1] Fund Flow Analysis - The logistics sector experienced a net outflow of 319 million from institutional investors, while retail investors saw a net inflow of 291 million [2] - Notable net inflows from retail investors include: - YTO Express with a net inflow of 29.22 million [3] - Milkway with a net inflow of 23.49 million [3] - Conversely, significant net outflows from institutional investors were observed in: - Milkway with a net outflow of 25.99 million [3] - SF Express with a net outflow of 22.76 million [3]

Group 1: Investment Banking and Brokerage Industry - As of August 25, 2025, the Wind All A index has increased by 16% and the Sci-Tech Innovation 50 index has risen by 28% since Q3 2025, indicating significant market activity[5] - The self-operated equity business is a key source of performance elasticity for brokerages, with a focus on self-operated business complemented by investment banking and private equity investments[6] - From 2015 to 2024, the scale of fixed income self-operated assets increased from CNY 908.1 billion to CNY 4.5 trillion, while equity self-operated assets decreased from CNY 449.7 billion to CNY 399.2 billion, indicating a shift in focus[6] Group 2: Solid-State Battery Investment Opportunities - Solid-state batteries are expected to become a key development direction due to their advantages in safety and energy density, with significant market potential in consumer batteries and electric vehicles[8] - The core materials for solid-state electrolytes include oxides, polymers, halides, and sulfides, with sulfides being a promising choice for future all-solid-state batteries[9] - The industrialization of semi-solid-state batteries has progressed rapidly, with several automakers achieving mass production since 2022, while all-solid-state batteries are expected to achieve mass production around 2027[10] Group 3: Solar Energy Industry - The solar energy sector is currently at a bottoming phase, with a recent meeting involving six departments aimed at regulating competition and promoting fair practices in the industry[17] - The average price of various solar components, including N-type silicon wafers and TOPCon batteries, has remained stable, indicating a steady market environment[18] - The solar sector's valuation as of August 22, 2025, is at 20.93 times TTM, which is relatively low compared to other sectors, suggesting potential investment opportunities[20]

Market Overview - The Shanghai Composite Index is at 3812.43 points, above the annual line, with a change of 0.32% [1] - The total trading volume of A-shares is 1,230.98 billion yuan [1] Stocks Breaking Annual Line - 23 A-shares have broken above the annual line today, with notable stocks including Chuangyi Information, Zhongfu Information, and Qifeng New Materials, showing divergence rates of 11.29%, 5.02%, and 3.05% respectively [1] - Stocks with smaller divergence rates that have just crossed the annual line include Guizhou Tire, Andisoo, and Haier Smart Home [1] Top Stocks by Divergence Rate - Chuangyi Information (300366) has a daily increase of 13.27% and a divergence rate of 11.29% [1] - Zhongfu Information (300659) has a daily increase of 6.91% and a divergence rate of 5.02% [1] - Qifeng New Materials (002521) has a daily increase of 3.24% and a divergence rate of 3.05% [1] Additional Stocks with Minor Divergence - Anuoqi (300067) shows a daily increase of 2.60% with a divergence rate of 1.87% [1] - Henglin Shares (603661) has a daily increase of 2.56% and a divergence rate of 1.35% [1] - Other stocks with minor divergence rates include Rabbit Baby (002043), Landun Optoelectronics (300862), and Transsion Holdings (688036) [1]

据证券之星公开数据整理，近期嘉友国际(603871)发布2025年中报。根据财报显示，嘉友国际净利润同 比下降26.15%。截至本报告期末，公司营业总收入40.84亿元，同比下降11.99%，归母净利润5.61亿 元，同比下降26.15%。按单季度数据看，第二季度营业总收入17.89亿元，同比下降32.37%，第二季度 归母净利润2.99亿元，同比下降33.88%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率18.17%，同比减13.86%，净利率 13.86%，同比减15.63%，销售费用、管理费用、财务费用总计9533.65万元，三费占营收比2.33%，同比 增57.19%，每股净资产4.22元，同比减22.91%，每股经营性现金流0.23元，同比减63.4%，每股收益0.41 元，同比减26.79% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 46.41 Z | 40.84亿 | -11.99% | | 归母净利润(元) | 7.59 Z | 5.61 亿 | -26.15% | | 扣非净 ...

嘉友国际 20250827 摘要 佳友国际上半年营收 12.18 亿元，同比增长 13.94%，毛利 3.6 亿元， 同比增长 18.78%。陆港运营项目营收 3.09 亿元，同比增长 34.35%，毛利增长 40.43%。供应链贸易业务营收 25.34 亿元，同比 下降 24.13%，受焦煤价格下跌影响，但进口量同比增长近 70%。 蒙古主焦煤市场经历价格下跌后趋于平稳，预计将保持平稳回升状态。 佳友国际通过长协和股权投资锁定资源端价格风险，并灵活调整采购价 格，有效抵御了市场波动带来的影响。 佳友国际在非洲通过 PPP 模式建设陆港和道路，与刚果金签订协议，实 现日均 800 车次流量。赞比亚和恩多拉项目即将投产，上半年陆港项目 毛利增长 40%，基础设施建设支持大物流网络发展，促进当地经济增长。 佳友国际在刚果金打通重要物流通道，为非洲布局提供支撑，并与客户 和供应商建立紧密合作关系。赞比亚萨卡尼亚口岸预计 2026 年竣工， 莫坎博项目预计明年或后年初开始运营，提升区域矿业公司效率。 佳友国际在坦桑尼亚和纳米比亚扩展物流网络，推进港口及特殊经济区 项目和金湾物流园建设，计划连接更多港口，形成完整的通道 ...

❑ 25Q2 归母净利润 3 亿元，盈利环比改善 公司发布 2025 年中报，2025H1 营业收入约 40.8 亿元，同比-12%；归母净利润 约 5.6 亿元，同比-26%。其中 Q2 收入约 17.9 亿元，同比-32%，归母净利润 3.0 亿元，同比-34%，环比+14%。 +15%。公司取得供应链贸易收入约 25.3 亿元，同比-24%，毛利润约 2.0 亿元， 同比-64%，毛利率 7.7%，同比-8.5pct，主要因为国内需求波动导致蒙焦煤价格 同比下跌约 40%、短盘运费同比下滑约 35%，致使公司供应链贸易单吨毛利同 比下滑约 69%至 58 元/吨。三季度焦煤价格大幅反弹，我们预计公司 Q3 供应链 贸易单吨毛利有望环比提升。 ❑ 非洲第二增长曲线：卡萨项目通车量持续上行，新项目有序推进 刚果（金）卡萨道路及口岸通车量高速增长。25H1 陆港项目收入 3.1 亿元，同 比+34%，毛利 1.8 亿元，同比+40%，毛利率约 60%，同比+2.7pct。 非洲跨境物流网络加速构建。赞比亚项目中萨卡尼亚-恩多拉公路（17.26km）已 贯通，收费站建成在即；萨卡尼亚口岸扩建进展顺利，莫坎博口岸 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company reported a decline in revenue and net profit for the first half of 2025, with total revenue of 4.08 billion yuan, down 12% year-on-year, and net profit attributable to shareholders of 561 million yuan, down 26.2% year-on-year, slightly below expectations [7] - The decline in performance is attributed to pressure on the Mongolian coal import business, with average daily coal clearance at the Ganqimaodu port dropping by 15.87% year-on-year [7] - Despite the challenges in the coal sector, the company's multimodal transport and land port projects showed strong growth, with multimodal transport contributing a gross profit of 360 million yuan, up 18.78% year-on-year, and land port projects contributing 184 million yuan, up 40.43% year-on-year [7] - The earnings forecast for 2025-2027 has been adjusted downward due to the slowdown in the Mongolian coal business, with expected net profits of 1.317 billion, 1.547 billion, and 1.776 billion yuan for 2025, 2026, and 2027 respectively [7] Financial Data and Profit Forecast - Total revenue for 2025 is projected at 9.231 billion yuan, with a year-on-year growth rate of 5.5% [6] - The net profit for 2025 is expected to be 1.317 billion yuan, with a year-on-year growth rate of 3.2% [6] - The earnings per share for 2025 is estimated at 0.96 yuan, with a projected price-to-earnings ratio of 12 [6] - The company's gross profit margin is expected to be 19.5% in 2025, with a return on equity (ROE) of 19% [6]

证券之星消息，8月27日物流板块较上一交易日下跌1.81%，永泰运领跌。当日上证指数报收于3800.35， 下跌1.76%。深证成指报收于12295.07，下跌1.43%。物流板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603813 | *ST原尚 | 18.43 | 5.01% | 2.46万 | - 4404.89万 | | 603871 | 嘉友国际 | 11.88 | 4.39% | 53.41万 | 6.38亿 | | 002468 | 申通快递 | 18.24 | 1.45% | 38.78万 | 7.05亿 | | 600753 | *ST海钦 | 6.97 | 1.01% | + 4.58万 | 3221.10万 | | 603560 | 长久物流 | 8.84 | 0.23% | 30.18万 | 2.71亿 | | 601598 | 中国外运 | 5.63 | -0.18% | 24.77万 | 1.41亿 | | 601156 | 东航物流 | 1 ...

Core Viewpoint - The A-share market shows a mixed performance with the Shanghai Composite Index at 3845.84 points, down by 0.58%, while the total trading volume reached 239.98 billion yuan, indicating a slight decline in market sentiment [1] Group 1: Market Performance - As of 14:00 today, the Shanghai Composite Index is above the annual line, with a trading volume of 239.98 billion yuan [1] - The index has experienced a decline of 0.58% [1] Group 2: Stocks Breaking Annual Line - Eight A-shares have surpassed the annual line today, with notable stocks including Digital Human, Transsion Holdings, and *ST WanFang, showing significant deviation rates of 10.00%, 1.31%, and 0.98% respectively [1] - Stocks with smaller deviation rates that have just crossed the annual line include Maiwei Co., Ltd., Jiayou International, and Jing Sheng Mechanical, with deviation rates of 0.19%, 0.33%, and 0.46% respectively [1] Group 3: Individual Stock Performance - Digital Human saw a price increase of 14.01% with a turnover rate of 25.34%, latest price at 17.41 yuan [1] - Transsion Holdings increased by 3.12% with a turnover rate of 1.24%, latest price at 86.64 yuan [1] - *ST WanFang rose by 1.29% with a turnover rate of 5.95%, latest price at 4.72 yuan [1]