证券代码：002210 证券简称：飞马国际 公告编号：2025-006 深圳市飞马国际供应链股份有限公司 第七届董事会第五次会议决议公告 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。 深圳市飞马国际供应链股份有限公司（以下简称"本公司"或"公司"）第七届 董事会第五次会议于 2025 年 4 月 11 日以电话、电子邮件等形式发出会议通知， 并于 2025 年 4 月 23 日在公司会议室以现场会议与通讯表决相结合的方式召开。 本次会议应参加董事 5 人，实际参加董事 5 人。公司监事、高级管理人员列席了 会议。会议由董事长赵力宾先生主持。 本次会议召开程序符合《公司法》及《公司章程》的规定。经与会董事认真 审议，会议通过了以下决议： 一、审议通过了《2024 年度董事会工作报告》 公司《2024 年度董事会工作报告》详见于巨潮资讯网（www.cninfo.com.cn）。 本报告提请公司 2024 年年度股东大会审议。 表决结果：5 票同意，0 票弃权，0 票反对 二、审议通过了《2024 年度总经理工作报告》 表决结果：5 票同意，0 票弃权，0 票反对 ...

深圳市飞马国际供应链股份有限公司（以下简称"本公司"或"公司"）于 2025 年 4 月 23 日召开了第七届董事会第五次会议、第七届监事会第四次会议，审议 通过了《2024 年度利润分配预案》，本次利润分配预案尚需提交公司股东大会审 议。 二、公司 2024 年度利润分配预案的基本情况 证券代码：002210 证券简称：飞马国际 公告编号：2025-007 深圳市飞马国际供应链股份有限公司 关于 2024 年度拟不进行利润分配的专项说明 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、审议程序 经四川华信（集团）会计师事务所（特殊普通合伙）出具的川华信审（2025） 第 0054 号审计报告确认，2024 年度公司合并实现归属于母公司股东的净利润为 28,504,796.83 元，母公司实现的净利润为-15,117,001.54 元；截至 2024 年 12 月 31 日，公司合并报表累计未分配利润为-4,094,110,755.70 元，母公司报表累计未 分配利润为-3,844,326,984.21 元。 公司 2024 年度拟不派发现金红利，不触及其 ...

| 四川华信(集团)会计师事务所 | 地址:成都市洗面桥街 号金茂礼都南 楼 18 28 | | --- | --- | | | 电话:（028）85560449 | | （特殊普通合伙） | 传真:（028）85560449 | | | 邮编: 610041 | | SI CHUAN HUA XIN (GROUP) CPA (LLP) | 电邮: schxzhb@hxcpa.com.cn | 关于深圳市飞马国际供应链股份有限公司 2024 年度非经常性损益的专项核查意见 川华信专（2025）第 0401 号 目录： 1、关于非经常性损益的专项核查意见 2、2024 年度非经常性损益明细表 深圳市飞马国际供应链股份有限公司 关于非经常性损益的专项核查意见 深圳市飞马国际供应链股份有限公司全体股东： 我们接受委托，审计了深圳市飞马国际供应链股份有限公司（以下简称"飞马国际"）2024 年度财务报表，包括 2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度的合并及母 公司利润表、合并及母公司现金流量表、合并及母公司所有者权益变动表，以及财务报表附 注，并出具了审计报告。在此基础上，我们核查了 ...

深圳市飞马国际供应链股份有限公司 非经营性资金占用及其他关联资金往来情况的专项说明 | 四川华信(集团)会计师事务所 | 地址:成都市洗面桥街 号金茂礼都南 楼 18 28 | | --- | --- | | | 电话:（028）85560449 | | （特殊普通合伙） | 传真:（028）85560449 | | | 邮编: 610041 | | SI CHUAN HUA XIN (GROUP) CPA (LLP) | 电邮: schxzhb@hxcpa.com.cn | 深圳市飞马国际供应链股份有限公司 非经营性资金占用及其他关联资金往来情况专项审核说明 川华信专（2025）第 0402 号 目录： 1、深圳市飞马国际供应链股份有限公司 2024 年度非经营性资金占用及 其他关联资金往来情况的专项说明 2、深圳市飞马国际供应链股份有限公司 2024 年度非经营性资金占用及 其他关联资金往来情况汇总表 深圳市飞马国际供应链股份有限公司 非经营性资金占用及其他关联资金往来情况的专项说明 深圳市飞马国际供应链股份有限公司 2024 年度 非经营性资金占用及其他关联资金往来情况的 专项说明 川华信专（2025） ...

| 四川华信(集团)会计师事务所 | 地址:成都市洗面桥街 18 号金茂礼都南 28 楼 | | --- | --- | | | 电话:（028）85560449 | | （特殊普通合伙） | 传真:（028）85560449 | | | 邮编: 610041 | | SI CHUAN HUA XIN (GROUP) CPA (LLP) | 电邮: schxzhb@hxcpa.com.cn | 深圳市飞马国际供应链股份有限公司 内部控制审计报告 川华信专（2025）第 0399 号 目录： 1、内部控制审计报告 深圳市飞马国际供应链股份有限公司 内部控制审计报告 内部控制审计报告 川华信专（2025）第 0399 号 四、财务报告内部控制审计意见 我们认为，飞马国际于 2024 年 12 月 31 日按照《企业内部控制基本规范》和相关规定 在所有重大方面保持了有效的财务报告内部控制。 四川华信(集团)会计师事务所 中国注册会计师： 深圳市飞马国际供应链股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审计了深 圳市飞马国际供应链股份有限公司（以下简称"飞马国际"）20 ...

| 四川华信(集团)会计师事务所 | 地址:成都市洗面桥街 18 号金茂礼都南 28 楼 | | --- | --- | | | 电话:（028）85560449 | | （特殊普通合伙） | 传真:（028）85560449 | | | 邮编: 610041 | | SI CHUAN HUA XIN (GROUP) CPA (LLP) | 电邮: schxzhb@hxcpa.com.cn | 深圳市飞马国际供应链股份有限公司 2024 年度审计报告 川华信审（2025）第 0054 号 目录： 1、审计报告 6、合并现金流量表 2、合并资产负债表 7、母公司现金流量表 3、母公司资产负债表 8、合并所有者权益变动表 4、合并利润表 9、母公司所有者权益变动表 5、母公司利润表 10、财务报表附注 深圳市飞马国际供应链股份有限公司 审计报告 审 计 报 告 川华信审（2025）第 0054 号 深圳市飞马国际供应链股份有限公司全体股东： 一、审计意见 我们审计了深圳市飞马国际供应链股份有限公司（以下简称"飞马国际"）财务报表， 包括 2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度的合 ...

前十大流通股东累计持有： 110157.77万股，累计占流通股比： 41.47%，较上期变化： -5872.35万股。 | 名称 持有数量(万股) | | 占总股本比 | 增减情况 | | --- | --- | --- | --- | | | | 例(%) | (万股) | | 新增鼎(海南)投资发展有限公司 | 79567.29 | 29.95 | 不变 | | 深圳市飞马国际（002210）供应链股份有限公司破产企业 | | | | | 财产处置专用账户 | 8453.57 | 3.18 | 不变 | | 光大兴陇信托有限责任公司-光大信托-励上2号集合资金 | | | | | 信托计划 | 4638.00 | 1.75 | 不变 | | 深圳市前海宏亿资产管理有限公司 | 4265.09 | 1.61 | 不变 | | 兴业银行股份有限公司深圳分行 | 2745.68 | 1.03 | 不变 | | 华夏银行股份有限公司深圳分行 | 2664.26 | 1.00 | 不变 | | 郑州银行（002936）股份有限公司 | 2630.34 | 0.99 | 不变 | | 兴业国际信托有限公司 | 188 ...

Financial Performance - The company's operating revenue for 2024 was ¥239,135,822.93, a decrease of 32.76% compared to ¥355,634,457.65 in 2023[6]. - Net profit attributable to shareholders for 2024 increased by 73.96% to ¥28,504,796.83 from ¥16,385,799.27 in 2023[6]. - Cash flow from operating activities for 2024 surged by 197.89% to ¥89,358,002.74, compared to ¥29,996,711.88 in 2023[6]. - Basic and diluted earnings per share for 2024 were both ¥0.0107, reflecting a 72.58% increase from ¥0.0062 in 2023[6]. - Total assets at the end of 2024 were ¥1,376,080,096.30, a slight increase of 0.39% from ¥1,370,783,594.28 at the end of 2023[6]. - Net assets attributable to shareholders increased by 32.33% to ¥374,296,327.43 at the end of 2024 from ¥282,842,981.45 at the end of 2023[6]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, which was ¥4,732,568.39 in 2024, down 59.37% from ¥11,646,677.85 in 2023[6]. - The company achieved operating revenue of 239.14 million yuan in 2024, a decrease of 32.76% compared to the previous year[47]. - The operating cost was 164.70 million yuan, down 41.33% year-on-year, primarily due to the project construction progress of the subsidiary[47]. - The comprehensive gross profit margin improved to 31.12%, an increase of 10.06% year-on-year, driven by operational efficiency improvements and cost reductions[47]. - The net profit attributable to shareholders was 28.50 million yuan, reflecting significant changes in deferred tax assets and liabilities[48]. Business Strategy and Development - In 2024, the company will upgrade its dual business strategy to a "dual-loop strategy," focusing on green ecological loops and digital industrial loops[19]. - The company aims to build an industrial service platform centered on resource recycling parks and intelligent supply chain scenarios[19]. - The company emphasizes its commitment to high-quality development and contributing to national economic growth through its diversified strategies[19]. - The company has expanded its business scope to include green circular economy industries since 2016[19]. - The company aims to enhance its supply chain service platform by integrating business, logistics, capital, and information flows, providing comprehensive supply chain outsourcing services[39]. - The company focuses on customized supply chain management services for specific industries, leveraging its extensive operational experience and customer relationships[43]. - The company is committed to advancing solid waste treatment technology and aims to become a leader in the circular economy, providing efficient urban and rural solid waste solutions[36]. - The company is actively expanding its business in the environmental and renewable energy sector, focusing on integrated development and enhancing efficiency in resource utilization[84]. - The company is exploring the application of advanced technologies such as big data, artificial intelligence, and blockchain in supply chain management to improve service quality and capabilities[84]. Market and Industry Insights - In 2024, China's renewable energy generation reached 3.46 trillion kWh, a year-on-year increase of 19%, accounting for approximately 35% of total electricity generation[31]. - The total installed capacity of renewable energy in China reached 1.889 billion kW by the end of 2024, a year-on-year increase of 25%, representing about 56% of the country's total installed capacity[31]. - The number of waste incineration enterprises in China reached 1,010, with an incineration capacity of approximately 1.11 million tons per day, exceeding the planned target of 800,000 tons per day[32]. - The total social logistics volume in China for 2024 was 360.6 trillion yuan, a year-on-year growth of 5.8%, with logistics costs decreasing to 14.1% of GDP, down 0.3 percentage points from the previous year[34]. - The logistics industry revenue in China for 2024 was 13.8 trillion yuan, reflecting a year-on-year increase of 4.9%[34]. - The supply chain management service market in China is estimated to be approximately 2.9 trillion yuan in 2024, with logistics services accounting for about 2.047 trillion yuan[34]. - The expected market size for supply chain management services in China is projected to reach 3.25 trillion yuan by 2025[34]. - The government aims for non-fossil energy generation to account for about 39% of total electricity generation by the end of 2025[30]. - The resource recycling industry is projected to achieve an annual output value of 5 trillion yuan by 2025, with a comprehensive utilization rate of major solid waste reaching 60%[30]. Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[4]. - The company maintains a robust governance structure, ensuring compliance with relevant laws and regulations to protect shareholder interests[95]. - The company has established a comprehensive internal management system to mitigate operational risks and ensure compliance[138]. - The company has a clear succession plan in place, with new appointments made to ensure continuity in leadership roles[103]. - The company is committed to maintaining a strong internal audit and compliance framework, as evidenced by the qualifications of its supervisory board members[108]. - The company’s board meetings were conducted in compliance with legal and regulatory requirements, ensuring effective governance[125]. Risk Management - The company has a commitment to risk awareness regarding macroeconomic risks, policy changes, market competition, and operational risks[4]. - The company acknowledges macroeconomic risks due to global economic downturns and geopolitical tensions, which may impact its operations[86]. - The company recognizes policy change risks in the renewable energy sector and is committed to monitoring policy dynamics to mitigate potential impacts[87]. - The company faces increased market competition as more players enter the renewable energy sector, necessitating enhanced operational management and service capabilities[88]. - The company is focused on modernizing its management systems and improving decision-making processes to address management risks associated with business expansion[89]. - The company is conducting annual impairment tests on goodwill to mitigate risks associated with potential declines in economic, technical, or legal environments[90]. Environmental Responsibility - The company has complied with environmental protection laws and standards, including the "Environmental Protection Law of the People's Republic of China" and relevant industry standards[145]. - The company received multiple environmental approvals for its projects, including a recent approval for a capacity expansion project on March 12, 2024[146]. - The company reported a total emission of 234.77 tons of sulfur dioxide from its waste incineration operations, with no exceedance of emission standards[147]. - The company has a valid pollution discharge permit effective from September 26, 2023, to September 25, 2028[146]. - The company has implemented measures to control air pollutants, achieving compliance with the "Standard for Pollution Control on Municipal Solid Waste Incineration"[145]. - The company has expanded its sludge drying capacity by 200 tons per day, enhancing its operational efficiency[146]. - The company processed over 620,000 tons of municipal waste and sludge during the reporting period, with biomass consumption exceeding 50,000 tons, generating approximately 219 million kWh of electricity, equivalent to saving about 136,100 tons of standard coal[151]. - The company operates three 500-ton per day circulating fluidized bed waste incineration furnaces and one 700-ton per day grate furnace, with a total daily waste processing capacity of 1,700 tons[151]. - The company has implemented a comprehensive waste gas treatment process, including in-furnace desulfurization and activated carbon injection, to ensure compliance with emission standards[151]. Shareholder Engagement - The annual shareholders meeting had a participation rate of 30.16% on May 23, 2024[98]. - The first extraordinary shareholders meeting in 2024 had a participation rate of 30.31% on June 17, 2024[98]. - The company disclosed the resolutions of the 2023 annual shareholders meeting on May 24, 2024[98]. - The company is committed to improving investor relations and information disclosure, with Mr. Du Jihui as the Board Secretary[114]. - The company actively engages with investors through various channels, including investor hotlines and performance briefings, to address their concerns and enhance understanding of the company's operations[156]. Employee and Management Structure - The company has a total of 240 employees, with 35 in the parent company and 205 in major subsidiaries[130]. - The professional composition includes 115 production personnel, 14 sales personnel, 36 technical personnel, 14 financial personnel, 54 administrative personnel, and 7 others[131]. - The educational background of employees shows 1 with a doctoral degree, 8 with master's degrees, 55 with bachelor's degrees, 114 with associate degrees, and 62 with high school or other qualifications[131]. - The management team has a diverse professional background, with members holding advanced degrees and significant industry experience, which may contribute to strategic decision-making[105][107]. - The management team includes four vice presidents, each responsible for different operational areas, enhancing organizational efficiency[112][113][114]. Future Outlook and Commitments - The overall outlook for the company remains positive, with expectations for recovery and growth in the upcoming financial periods[102]. - The company plans to enhance its business expansion efforts and explore capital operation matters to drive growth and improve profitability[165]. - The company has committed to achieving a net profit of no less than 570 million yuan for the years 2022, 2023, and 2024 combined, as per the commitment from the restructuring investor[165]. - The actual net profits for 2022, 2023, and 2024 were 88.35 million yuan, 16.39 million yuan, and 28.50 million yuan respectively, totaling 133.24 million yuan, which did not meet the profit commitment[165]. - The restructuring investor is required to compensate the company for the shortfall in the profit commitment, amounting to 436.76 million yuan[165].

Financial Performance - The company's revenue for Q1 2025 was ¥54,663,876.53, a decrease of 12.13% compared to ¥62,213,442.68 in the same period last year[4]. - The net profit attributable to shareholders was -¥768,247.93, representing a decline of 112.24% from ¥6,274,120.04 year-on-year[4]. - The net profit for the current period is -899,678.57, compared to a net profit of 6,274,120.04 in the previous period, indicating a significant decline[20]. - Operating profit decreased to 950,058.86 from 9,241,542.18, reflecting a drop of approximately 89.7%[20]. - Total comprehensive income for the current period is -910,976.84, down from 6,275,300.84 in the previous period[21]. - The basic and diluted earnings per share were both -¥0.0003, down 112.50% from ¥0.0024 in the same period last year[4]. - The company reported a basic and diluted earnings per share of -0.0003, compared to 0.0024 in the previous period[21]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 113.73%, amounting to -¥3,203,576.08 compared to ¥23,333,812.75 in the previous year[4][9]. - Cash flow from operating activities showed a net outflow of -3,203,576.08, compared to a net inflow of 23,333,812.75 in the previous period[23]. - Cash and cash equivalents decreased by ¥14,434,500, while the ending balance increased by 46.14% compared to the same period last year[10]. - Cash and cash equivalents at the end of the period decreased to 90,842,717.26 from 62,162,338.26, indicating a decline in liquidity[23]. - The company generated cash inflows from financing activities totaling 214,530,019.76, compared to 13,650,000.00 in the previous period, showing a substantial increase[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,378,230,290.42, a slight increase of 0.16% from ¥1,376,080,096.30 at the end of the previous year[4]. - The total current assets at the end of the period are CNY 443,393,217.10, slightly up from CNY 433,476,632.11 at the beginning of the period[16]. - The total liabilities decreased from CNY 1,001,820,595.59 to CNY 877,485,578.68, indicating a reduction of approximately 12.4%[17]. - The total equity attributable to the parent company increased from CNY 374,296,327.43 to CNY 500,612,969.10, showing a growth of 33.7%[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 65,433, with the largest shareholder holding 29.90% of the shares[11]. - The company has not disclosed any significant changes in the shareholding structure or any related party transactions among the top shareholders[12]. Operating Costs and Expenses - The total operating revenue for the current period is CNY 54,663,876.53, a decrease of 12.5% compared to CNY 62,213,442.68 in the previous period[19]. - The total operating costs for the current period amount to CNY 53,967,593.17, down 10.5% from CNY 60,352,169.85 in the previous period[19]. - The operating cost specifically decreased from CNY 44,387,763.67 to CNY 38,451,791.02, reflecting a reduction of 13.3%[19]. - The company incurred financial expenses of 6,387,005.77, down from 7,387,436.52, reflecting a decrease of approximately 13.5%[20]. - The company received other income of 2,175,054.50, down from 5,005,827.53, indicating a decline of about 56.5%[20]. Impairment and Inventory - The company reported a 198.63% increase in credit impairment losses compared to the previous year, indicating a significant rise in the estimated recoverable amounts of accounts receivable[8]. - The inventory increased from CNY 12,852,031.03 to CNY 14,120,918.91, representing a rise of 9.9%[16]. Government Support and Financing - The company received government subsidies amounting to ¥535,703.13, which are closely related to its normal business operations[5]. - The company completed the auction of 80,735,226 shares of debt equity, which will be used to supplement working capital and pay off subsidiary debts[13]. Research and Development - Research and development expenses were not explicitly detailed in the provided data, indicating a potential area for further inquiry[20].

4月16日，飞马国际今日收盘2.52元，上涨2.02%，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179.33倍，总市值67.06亿元。 从行业市盈率排名来看，公司所处的环保行业行业市盈率平均58.43倍，行业中值24.73倍，飞马国际排 名第111位。 截至2024年三季报，共有7家机构持仓飞马国际，其中基金7家，合计持股数568.49万股，持股市值0.15 亿元。 深圳市飞马国际供应链股份有限公司主营业务为供应链管理服务和环保新能源。公司的主要产品是综合 物流服务、贸易执行服务、环保新能源行业、PPP项目建造服务。公司从事的主要业务为供应链管理服 务和环保新能源业务，经过多年的不断探索和积累，公司在业务平台与运营,企业资质,经营团队以及经 营品牌等方面建立了较强的竞争优势，在相关行业内具有一定的影响力。 最新一期业绩显示，2024年三季报，公司实现营业收入2.16亿元，同比-24.08%；净利润3356.45万元， 同比167.35%，销售毛利率24.17%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)111飞马国际179.33409.2821.2067.06亿行业平均 58 ...