米奥会展今年以来股价涨6.32%，近5个交易日涨5.08%，近20日涨4.40%，近60日涨12.01%。 资料显示，浙江米奥兰特商务会展股份有限公司位于上海市恒丰路218号现代交通商务大厦21楼2104 室，成立日期2010年6月30日，上市日期2019年10月22日，公司主营业务涉及会展项目的策划发起、组 织承办、推广及运营服务。主营业务收入构成为：自办展90.11%，代理展7.75%，数字展及其他 2.14%。 9月10日，米奥会展盘中上涨2.02%，截至11:18，报16.14元/股，成交3593.76万元，换手率1.30%，总市 值48.24亿元。 截至6月30日，米奥会展股东户数1.29万，较上期减少2.16%；人均流通股13446股，较上期增加 32.06%。2025年1月-6月，米奥会展实现营业收入2.41亿元，同比减少7.43%；归母净利润1554.00万元， 同比减少61.84%。 资金流向方面，主力资金净流入139.28万元，特大单买入124.47万元，占比3.46%，卖出0.00元，占比 0.00%；大单买入683.44万元，占比19.02%，卖出668.62万元，占比18.61%。 ...

米奥会展 20250908 2025 年上半年，米奥会展的收入下降了约 7%，利润则大幅下降了 60%以上。 这主要反映了参展企业经营状况的困难。相比去年，组织的展位数量减少了二 三十个，但报价保持不变。这表明企业面临较大的压力，导致利润基数低。尽 管如此，上半年的几场展会效果非常好，例如越南展会签单金额达到 9,000 万 美元，是近年来最大的一笔订单。此外，印尼工业展也取得了不错的效果，通 过"狼羊理论"招募观众，使得观众更精准。 米奥会展在 2025 年下半年有哪些业务发展计划？ 2025 年下半年是米奥会展业务发展的关键时期。第三季度将举办墨西哥、巴 西和南非三个展会，相比去年减少了一个美国展，由于关税问题取消。预计这 将导致收入减少，因为美国展位售价较高。此外，今年上半年推出的 AI 会展产 品升级影响了一些销售收入，但整体效果良好。第四季度是最重要的时期，占 全年业绩的 60%至 70%。增加的大阪、日本东京、沙特和印度等多个新展会 预计将带来显著增长。其中，大阪有约 400 个展位，沙特有 1,500 至 1,600 个，而印度可能达到 1,500 至 2000 个。此外，波兰、印尼和迪拜等地也 ...

Core Viewpoint - The company is leveraging AI technology to revolutionize the exhibition industry, enhancing communication and operational efficiency for businesses participating in international trade shows [1][2]. Group 1: AI Solutions and Innovations - The company has developed an intelligent overseas exhibition solution that combines hardware and software, specifically targeting enterprise-level users with AI glasses that support real-time translation in 128 languages [2][3]. - The AI system not only facilitates real-time communication but also automates the generation of follow-up emails and meeting summaries, significantly improving post-exhibition processes [2][3]. - During the 2025 Indonesia Jakarta International Industrial Week, the AI glasses translated over 9,000 minutes of conversation and helped achieve a buyer-seller matching rate exceeding 50% through automated email generation [2][3]. Group 2: Data-Driven Decision Making - The AI system, referred to as AI Hui Zhan, transforms the exhibition process from experience-based to data-driven, enabling comprehensive coverage of the exhibition chain [3][4]. - The system utilizes algorithms to recommend high-matching buyers before the exhibition, automates buyer information collection during the event, and provides data analysis for post-event strategy optimization [3][4]. Group 3: Commitment to R&D - The company has invested over 90 million yuan in R&D from 2020 to 2024, with a budget of over 20 million yuan for 2025, focusing on AI and big data technology [5][6]. - The company initiated its digital transformation in 2017, which allowed it to quickly adapt to online exhibitions during the pandemic, showcasing the importance of a solid digital foundation [5][6]. Group 4: Strategic Partnerships - In September 2024, the company signed a strategic cooperation agreement with the National University of Singapore's Chongqing Research Institute to enhance AI technology for B2B trade matching [6]. - The collaboration aims to develop personalized search and recommendation algorithms to improve the efficiency of connecting businesses with potential clients [6].

Core Viewpoint - The article highlights the transformative impact of AI technology on the exhibition industry, particularly through the innovations introduced by Miao Exhibition, which enhance communication and operational efficiency for businesses participating in international trade shows [1][2]. Group 1: AI Solutions and Industry Pain Points - Miao Exhibition addresses significant pain points in the international exhibition sector, such as language barriers and efficiency bottlenecks, by implementing a comprehensive "hardware + software" solution that includes AI glasses and the AI Hui Exhibition system [2]. - The AI glasses support real-time audio translation in 128 languages, specifically targeting high-frequency minor languages, and are designed to function effectively in noisy environments with unstable network signals [2]. - The AI Hui Exhibition system facilitates data-driven decision-making throughout the exhibition process, from pre-event buyer matching to post-event performance analysis, thereby transforming the traditional experience-based approach into a data-centric model [3]. Group 2: Data-Driven Operations - Miao Exhibition has accumulated over tens of millions of high-quality supplier and buyer data points through its global exhibition operations, which include buyer behavior preferences and historical negotiation records, forming the basis for precise buyer-seller matching [4]. - The company has maintained a strong commitment to digital transformation, investing over 90 million yuan in research and development from 2020 to 2024, with a budget of over 20 million yuan allocated for 2025 to further enhance AI and big data technologies [5]. Group 3: Strategic Collaborations and Future Outlook - Miao Exhibition has entered into a strategic partnership with the National University of Singapore's Chongqing Research Institute to focus on AI technology development for B2B trade matching, with the AI Hui Search being a key outcome of this collaboration [6]. - The company aims to lead the exhibition industry in digitalization and AI integration, aspiring to create a larger market ecosystem that enhances the competitiveness of all businesses engaging in international trade [6].

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300577 | 开润股份 | 23.80 | 6.77% | 6.62万 | 1.56亿 | | 603081 | 大丰实业 | 13.03 | 5.08% | 20.50万 | 2.65 Z | | 300860 | 锋尚文化 | 29.03 | 4.12% | 4.84万 | 266" I | | 300296 | 利亚德 | 7.30 | 3.99% | 166.77万 | 12.05亿 | | 300805 | 电声股份 | 11.61 | 3.48% | 7.45万 | 8488.94万 | | 002291 | 谣望科技 | 6.37 | 3.41% | 44.35万 | 2.77亿 | | 300795 | 米奥会展 | 15.88 | 2.85% | 4.31万 | 6765.21万 | | 600679 | 上海凤凰 | 13.61 | 1.95% | 8.20万 | 1.10亿 | | 600859 | 王府井 | 14.82 ...

米奥会展表示，经公司董事会审议通过，授权公司管理层启动本次H股上市的前期筹备工作。公司计划 与相关中介机构就本次 H 股上市的具体推进工作进行商讨，关于本次H 股上市的具体细节尚未确定。 米奥会展，成立于2010年6月30日，作为中国第一家也是目前唯一一家在中国资本市场上市的展览主承 办主体公司，被业界称为"中国会展第一股"，致力于用会展的服务手段，为中国制造量身打造拓展全球 市场的自主产权，自主品牌、独立运营、布局全球的会展营销服务平台。 米奥会展在深圳、广州、东 莞、北京、上海、杭州、阿联酋、印度尼西亚等地均设有子公司，员工超过1000人。 米奥会展(SZ:300795) 加自选 ¥15.54 +0.18 +1.17% 7922 球友关注 体盘中 09-04 12:52:00 北京时间 | 最高: 15.65 | 今开:15.30 | 涨停: 18.43 | 成交量:22080手 | | --- | --- | --- | --- | | 最低: 15.26 | 昨收:15.36 | 跌停:12.29 | 成交额:3428.00万 | | 换手:1.27% | 盘后里: -- | 量比:0.67 | 总市 ...

Core Viewpoint - Miao Exhibition plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and improve overseas business layout, financing capabilities, and brand image [1] Group 1: Company Strategy and Development - The company aims to accelerate its internationalization strategy and enhance its core competitiveness through the H-share listing [1] - Miao Exhibition's chairman highlighted the efficiency bottlenecks faced by domestic companies in international exhibitions, including language barriers and inadequate customer management [1] - The company is leveraging digital technology and its "AI Hui Exhibition" system to innovate the exhibition industry and address these challenges [1][2] Group 2: Technological Innovations - The "AI Hui Exhibition" system has achieved breakthroughs in six areas, including intelligent matching, translation, and record-keeping, utilizing a database of over 30 million global buyers [2] - Collaboration with Li Weike Technology has led to the development of AI glasses that integrate behavior sensing, multi-modal interaction, and data management capabilities [2] - The future of the exhibition industry is envisioned as being driven by data and AI, with the company aiming to enhance communication for all exporting enterprises [2] Group 3: Financial Performance - In the first half of 2025, Miao Exhibition reported a revenue of 241 million yuan, a year-on-year decrease of 7.43%, and a net profit of 15.54 million yuan, down 61.84% [2] - In the second quarter, the company achieved a revenue of 224 million yuan, a year-on-year increase of 21.5%, and a net profit of 5.23 million yuan, up 45.7% [2] - The company focuses on providing planning, organization, promotion, and operational services for overseas exhibitions, supporting domestic enterprises in their international endeavors [3]

Investment Rating - The report maintains an "Overweight" rating for the construction materials industry [1] Core Views - The construction materials sector is expected to benefit from a slight recovery in cement demand, particularly in southern regions as rainfall decreases. However, demand in areas like Beijing-Tianjin-Hebei, Shandong, and Henan is weakening due to stricter environmental controls [2][14] - The report highlights the potential for price increases in cement, driven by improved demand and supply-side discipline, with a focus on leading companies such as Conch Cement and Huaxin Cement [4][5] - The report emphasizes the importance of government policies aimed at boosting domestic demand and stabilizing the real estate market, which are expected to positively impact the home improvement and building materials sectors [17] Summary by Sections 1. Sector Overview - The construction materials sector saw a slight increase in the PMI for August, indicating a seasonal uptick in activity, particularly in major infrastructure projects initiated in July [4] - The construction materials index showed a marginal increase of 0.14% during the week, underperforming compared to the broader market indices [4] 2. Bulk Construction Materials 2.1 Cement - The national average price for high-standard cement is reported at 344.3 RMB/ton, reflecting a week-on-week increase of 1.7 RMB/ton but a year-on-year decrease of 35.2 RMB/ton [22][23] - The average cement inventory level among sample enterprises is 63.6%, down 1.0 percentage points from the previous week [25] - The report anticipates a potential price stabilization and recovery in the cement market, particularly in the second half of the year [5][14] 2.2 Glass - The average price for float glass is reported at 1189.7 RMB/ton, down 16.1 RMB/ton from the previous week and down 176.6 RMB/ton year-on-year [4] - The report suggests that supply-side adjustments are likely to improve the supply-demand balance in the glass industry, with a focus on leading companies benefiting from cost advantages [16] 2.3 Fiberglass - The report notes a stable pricing environment for fiberglass, with the average price for non-alkali roving at 3100-3700 RMB/ton, remaining stable compared to previous periods [4] - The demand for specialty fiberglass products is expected to grow significantly, driven by technological advancements and increased applications in various industries [15] 3. Home Improvement Materials - The report highlights the positive impact of government policies aimed at stimulating domestic consumption, particularly in the home improvement sector, with expectations for a recovery in demand [17] - Leading companies in the home improvement materials sector are encouraged to explore new business models and enhance their market positioning [17]

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, but expects recovery in the second half due to an increase in exhibition projects and the implementation of AI technologies [1][2]. Financial Performance - In H1 2025, the company achieved revenue of 241 million yuan, a year-on-year decrease of 7.43%, and a net profit attributable to shareholders of 16 million yuan, down 61.84% [1]. - In Q2 2025, the company reported revenue of 224 million yuan, an increase of 21.49% year-on-year, and a net profit of 52 million yuan, up 45.74% year-on-year [1]. Project and Revenue Outlook - The decline in revenue and profit in H1 2025 was primarily due to a reduction in the number of projects from 6 to 5, as well as increased investments in AI and foreign trade support policies [2]. - The company anticipates a total of 10 exhibitions in the second half of 2025, an increase of 2 from the previous year, which is expected to drive revenue and profit recovery [2]. AI Integration and Innovation - The company has developed the "AI Hui Zhan" system, which integrates intelligent matching algorithms and wearable AI glasses to enhance the exhibition experience for buyers and exhibitors [3]. - The AI glasses, developed in collaboration with Li Weike Technology Co., incorporate behavior sensing, multi-modal interaction, and data management capabilities, aiming to break down language barriers and facilitate cross-border trade [3]. Data Strategy and Ecosystem Development - The company is focusing on a three-pronged approach involving data standardization, dedicated operational platforms for VIP clients, and localized operational centers to enhance service delivery and reduce communication costs [4]. - The strategy aims to transition the exhibition industry from a "traffic economy" to an "algorithm economy," leveraging technology, data, and practical scenarios [4]. Dividend Policy - The company announced a profit distribution plan for H1 2025, proposing a cash dividend of 0.67 yuan per 10 shares, totaling approximately 19.79 million yuan, which represents 100% of the distributable profit [5]. - The company operates on a light asset model, ensuring sufficient cash flow and maintaining a high dividend payout ratio since 2023 [5]. Investment Forecast - The company maintains its previous profit forecast, expecting revenues of 1.06 billion yuan, 1.39 billion yuan, and 1.58 billion yuan for 2025 to 2027, with net profits of 270 million yuan, 370 million yuan, and 430 million yuan respectively [6]. - The earnings per share (EPS) are projected to be 0.91, 1.24, and 1.44 yuan for the same period [6]. Valuation Metrics - As of August 29, 2025, the closing price was 15.99 yuan per share, corresponding to a price-to-earnings (PE) ratio of 18x, 13x, and 11x for the years 2025, 2026, and 2027 respectively [7].

Core Viewpoint - The company has proposed a profit distribution plan for the first half of 2025, which is subject to approval at the upcoming extraordinary shareholders' meeting [1][2]. Profit Distribution Proposal - The profit distribution plan was reviewed and approved by the company's board of directors, with independent directors affirming its compliance with legal and regulatory requirements [1][2]. - For the first half of 2025, the company reported a net profit attributable to shareholders of 15,540,037.08 yuan, with the parent company's net profit at 8,546,691.47 yuan [2]. - As of June 30, 2025, the parent company had undistributed profits of 20,767,205.23 yuan, which will be the basis for the distribution [2]. Cash Dividend Details - The proposed cash dividend is 0.67 yuan per 10 shares (including tax), totaling 19,791,388.56 yuan (including tax), with no stock dividends or capital reserves being converted into shares [3][4]. - The total share capital for the distribution is based on 295,393,859 shares after excluding shares held in the company's repurchase account [3]. Justification for Cash Dividend - The profit distribution plan aligns with the company's long-term development strategy and does not adversely affect its operational cash flow or debt repayment capacity [5]. - The cash dividend exceeds 100% of the current net profit and more than 50% of the parent company's undistributed profits at the end of the period [5]. - The company's debt-to-asset ratio was reported at 29.94% as of the end of the first half of 2025, indicating a reasonable financial structure [5]. Compliance and Confidentiality - The company has implemented measures to control insider information and ensure confidentiality among those privy to sensitive information [6].