Market Overview - On July 24, stocks related to Hainan and duty-free concepts experienced significant gains, with multiple companies hitting the daily limit, including Caesar Travel, Haixia Co., China Duty Free Group, and others [1] - The Hainan Free Trade Port index rose by 8.81% [2] Event: Hainan's Customs Closure Launch - The Hainan Free Trade Port will officially start its customs closure on December 18, 2025, establishing the entire island as a special customs supervision area [3] - New policies will be implemented upon the closure, including an increase in the proportion of "zero tariff" goods from 21% to 74% [3] Institutional Analysis - The coverage of "zero tariff" goods will expand significantly from 1,900 to approximately 6,600 items, representing a 53 percentage point increase [4] - The beneficiaries of the "zero tariff" policy will now include various enterprises and non-profit organizations with actual import needs, broadening the scope of the policy [4] - Restrictions on the flow of imported "zero tariff" goods will be relaxed, allowing free movement among beneficiaries, which is expected to enhance the competitiveness of local industries [4] - The efficient management model and diverse consumer market in Hainan are anticipated to boost tourism, with the tourism industry expected to benefit from policy incentives [4] - The demand for professional tour guide services and one-stop solutions for international tourists is expected to rise, benefiting travel agencies involved in cross-border tourism [5] - The independent nature of the duty-free policy is likely to remain, with expectations of increased consumption post-closure, aiming for over 60 billion yuan in sales by 2027 [5]

Core Viewpoint - The announcement of the specific date for the closure of Hainan Free Trade Port on December 18, 2025, has led to a significant rise in local stocks, particularly in the tourism and retail sectors, indicating strong market optimism about the future economic benefits of the policy [1][2]. Group 1: Stock Performance - Hainan local stocks have seen substantial increases, with Kangzhi Pharmaceutical reaching a 20% limit up, and other companies like HNA Holding and Haixia Co. also experiencing significant gains [1][2]. - The stock performance of various companies includes: - Kangzhi Pharmaceutical: +20.00% - HNA Holding: +10.14% - Hainan Airport: +10.11% - Haide Co.: +10.08% - Hainan Expressway: +10.01% - Hainan Bus Group: +10.01% - Haixia Co.: +49.99% - Caesar Travel: +9.98% - Haima Automobile: +7.61% - Shennong Seed Industry: +7.68% [2]. Group 2: Policy Details - The closure policy includes four key measures: 1. Implementation of a more favorable "zero tariff" policy, increasing the proportion of zero-tariff goods from 21% to 74% for "first-line" imports, allowing tax-free circulation among eligible entities within the island [3][4]. 2. More relaxed trade management measures, opening up certain previously restricted imports [3]. 3. Enhanced convenience in transportation, with eight existing open ports designated as "first-line" ports and ten additional "second-line" ports for smoother import processes [3]. 4. A more efficient and precise regulatory model to ensure smooth implementation of the open policies [3]. Group 3: Industry Implications - The closure is expected to significantly benefit the tourism industry in Hainan, helping to establish it as an international tourism consumption center, with long-term advantages for related businesses such as scenic spots, hotels, and travel retailers [4]. - The continued implementation of duty-free policies will maintain the competitive edge of duty-free operators, while the increased attractiveness of Hainan is anticipated to boost the overall development of the tourism retail market [4]. - The efficient management model and diverse consumer market in Hainan are projected to enhance its tourism appeal, driving growth in inbound tourism [4].

Group 1 - The local stocks in Hainan showed strength on July 22, with companies like Zhongtung High-tech and Caesar Travel reaching their daily limit up, while Haide Co., Kangzhi Pharmaceutical, and Hainan Development also saw gains [1] - On July 21, the People's Bank of China and five other departments issued the implementation details for the cross-border asset management pilot in Hainan Free Trade Port, allowing foreign investors to invest in various financial products with an initial pilot scale cap of 10 billion [6] - The State Council Information Office will hold a press conference on July 23, 2025, to discuss the construction of Hainan Free Trade Port, featuring key officials from various ministries [6] Group 2 - The cross-border asset management business in Hainan Free Trade Port is expected to enrich the supply of cross-border financial products and attract asset management institutions to operate in Hainan, aiding the development of the free trade port [8] - Hainan aims to start full island closure operations by the end of 2025, positioning itself to align with international standards similar to Hong Kong, which may enhance its global trade competitiveness [7][8] - The independent nature of the offshore duty-free policy in Hainan is anticipated to remain, with expected benefits from consumption-boosting policies post-closure, including an increase in the variety and quantity of duty-free products [8]

Group 1 - The Hainan Free Trade Zone concept rose by 2.21% as of the market close on July 16, ranking 6th among concept sectors, with 27 stocks increasing in value, including Haide Co., Hainan Ruize, and Jingliang Holdings, which rose by 5.79%, 4.70%, and 4.59% respectively [1] - The top gainers in the Hainan Free Trade Zone concept included Haide Co. with a net inflow of 92.2 million yuan, followed by Hainan Ruize with 61.9 million yuan, and Hainan Haiyao with 43.7 million yuan [1][2] - The concept sector saw a net inflow of 219 million yuan from main funds, with 23 stocks experiencing net inflows, and 16 stocks receiving over 10 million yuan in net inflows [1] Group 2 - The leading stocks by net inflow ratio included ST Huluwa, Haide Co., and *ST Yedao, with net inflow ratios of 16.55%, 15.77%, and 13.49% respectively [2] - The top stocks in the Hainan Free Trade Zone concept by main fund flow included Haide Co. with a main fund flow of 92.2 million yuan and a turnover rate of 4.66%, and Hainan Ruize with a flow of 61.9 million yuan and a turnover rate of 11.86% [2][3] - Other notable stocks included Hainan Haiyao with a 3.49% increase and a main fund flow of 43.7 million yuan, and HNA Holding with a 1.45% increase and a flow of 30.2 million yuan [3]

Market Overview - The Shanghai Composite Index is at 3500.42 points, slightly down by 0.13%, with a total trading volume of 674.96 billion yuan [1] - As of now, 50 A-shares have surpassed their annual line, indicating a positive market sentiment [1] Notable Stocks - The stocks with the highest deviation rates above the annual line include: - Furui Co., Ltd. (300049) with a deviation rate of 5.83% and a daily increase of 7.83% [1] - Haide Co., Ltd. (000567) with a deviation rate of 4.84% and a daily increase of 7.77% [1] - Tianye Co., Ltd. (832023) with a deviation rate of 3.71% and a daily increase of 6.35% [1] - Other stocks that have just crossed the annual line with smaller deviation rates include: - Wansheng Co., Ltd. (002739) with a deviation rate of 2.70% and a daily increase of 3.02% [1] - ST Guandian (688287) with a deviation rate of 2.14% and a daily increase of 2.67% [1] Trading Activity - The trading turnover rate for notable stocks varies, with Furui Co., Ltd. at 4.06% and Haide Co., Ltd. at 2.59% [1] - The latest prices for these stocks are as follows: - Furui Co., Ltd. at 39.40 yuan [1] - Haide Co., Ltd. at 6.52 yuan [1] - Tianye Co., Ltd. at 4.69 yuan [1]

Group 1 - The core viewpoint of the articles highlights the expected decline in the net profit of Haide Co., with projections ranging from 135 million to 175 million yuan for the first half of 2025, attributed to the gradual recovery of principal from acquisition and restructuring businesses, leading to a decrease in revenue from these operations [1] - The company is focusing on risk control in the field of non-performing asset investment, successfully recovering non-performing assets while preparing for new market opportunities [1][2] - The company’s business layout remains consistent, with new projects in the principal recovery stage, indicating a strategic approach aligned with the characteristics of the non-performing asset management industry [1][2] Group 2 - The industry environment shows a record high of 3.8 trillion yuan in non-performing asset disposal in 2024, indicating a growing market for asset management companies (AMCs) supported by policy [2][3] - Haide Co. is strategically advancing its business in familiar sectors such as energy and listed companies, utilizing diverse methods like restructuring and revitalization to enhance asset value while mitigating risks [2] - The company has established comprehensive partnerships with banks and local AMCs, strengthening its competitive position in the industry [3]

证券代码：000567 证券简称：海德股份 公告编号：2025-044 号 海南海德资本管理股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、 本期业绩预计情况 （一）业绩预告期间 本次业绩预告期间为 2025 年 1 月 1 日-2025 年 6 月 30 日。 （二）业绩预告情况 预计净利润为正值且属于下列情形之一：?扭亏为盈 ?同向上升 ? 同向下降。 项 目 本报告期 上年同期 盈利：13,500 万元–17,500 万元 归属于上市公司股东的 盈利：37,804.66 万元 净利润 比上年同期下降：53.71% - 64.29% 盈利：11,500 万元–16,000 万元 扣除非经常性损益后的 盈利：35,013.30 万元 净利润 比上年同期下降：54.30% - 67.16% 基本每股收益 盈利：0.0691 元/股–0.0895 元/股 盈利：0.1934 元/股 二、与会计师事务所沟通情况 本次业绩预告相关财务数据是公司财务部门初步测算的结果，未经会计师事务所 审计。 三、业绩变动原因说明 公司 2025 年上半年较上年同期 ...

证券代码：000567 证券简称：海德股份 公告编号：2025-044 号 海南海德资本管理股份有限公司 2025 年半年度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、 本期业绩预计情况 | 项 目 | 本报告期 | | | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东的 净利润 | 盈利：13,500 | 万元–17,500 | 万元 | 盈利：37,804.66 | 万元 | | | 比上年同期下降：53.71% - | | 64.29% | | | | 扣除非经常性损益后的 净利润 | 盈利：11,500 | 万元–16,000 | 万元 | 盈利：35,013.30 | 万元 | | | 比上年同期下降：54.30% - | | 67.16% | | | | 基本每股收益 | 盈利：0.0691 | 元/股–0.0895 | 元/股 | 盈利：0.1934 | 元/股 | （一）业绩预告期间 本次业绩预告期间为 2025 年 1 月 1 日-2025 年 6 月 ...

海德股份（000567）公告，预计2025年1月1日-2025年6月30日归属于上市公司股东的净利润为1.35亿 元–1.75亿元，同比下降53.71%-64.29%。扣除非经常性损益后的净利润为1.15亿元–1.6亿元，同比下降 54.30%-67.16%。基本每股收益为0.0691元/股–0.0895元/股，同比下降64.29%-53.71%。 ...

7月14日，海德股份今日收盘6.24元，下跌3.26%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到62.91倍，总市值121.97亿元。 从行业市盈率排名来看，公司所处的多元金融行业市盈率平均72.41倍，行业中值33.31倍，海德股份排 名第16位。 资金流向方面，7月14日，海德股份主力资金净流出1638.93万元，近5日总体呈流入状态，5日共流入 3465.91万元。 最新一期业绩显示，2025年一季报，公司实现营业收入2.21亿元，同比-36.02%；净利润9704.45万元， 同比-58.40%，销售毛利率98.91%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)12海德股份62.9136.952.29121.97亿行业平均 72.4141.271.83233.75亿行业中值33.3125.831.82191.26亿1江苏金租12.2112.461.47366.66亿2陕国投 A13.8614.051.05191.26亿3越秀资本15.1516.401.23376.28亿4国网英大17.4619.541.39307.65亿5渤海租赁 18.3224.010.69217. ...