北京市中伦（深圳）律师事务所 关于浙江米奥兰特商务会展股份有限公司 2023 年年度股东大会的 法律意见书 北京市中伦（深圳）律师事务所 关于浙江米奥兰特商务会展股份有限公司 2023 年年度股东大会的 法律意见书 致：浙江米奥兰特商务会展股份有限公司 北京市中伦（深圳）律师事务所（以下简称"本所"）受浙江米奥兰特商务会 展股份有限公司（以下简称"公司"）委托，指派郭子威律师、钟浩律师出席并见 证公司 2023 年年度股东大会（以下简称"本次股东大会"），并依据《中华人民共 和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证 券法》"）、《上市公司股东大会规则》（以下简称"《股东大会规则》"）以及《浙 江米奥兰特商务会展股份有限公司章程》（以下简称"《公司章程》"）等有关规 定，就本次股东大会的召集、召开程序、出席现场会议人员的资格、召集人资格、 会议表决程序及表决结果等事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司本次股东大会的有关文件和材料。 本所律师得到公司如下保证，即其已提供了本所律师认为出具本法律意见书所必 需的材料，所提供的原始材料、副本、复印件等材料 ...

浙江米奥兰特商务会展股份有限公司 2023年年度股东大会决议公告 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。 特别提示： 1、本次股东大会没有出现否决议案的情况； 证券代码：300795 证券简称：米奥会展 公告编号：2024-022 2、本次股东大会不涉及变更以往股东大会已通过决议的情况； 3、本次股东大会审议的议案对中小投资者的表决单独计票。 方式召开。 （1）现场投票：包括本人出席及通过填写授权委托书授权他人 出席。 （2）网络投票：公司将通过深圳证券交易所交易系统和互联网 投票系统向股东提供网络形式的投票平台，公司股东应在本通知列明 的有关时限内通过深圳证券交易所的交易系统或互联网投票系统进 行网络投票。公司股东只能选择上述投票方式中的一种表决方式。同 一表决权出现重复投票的，以第一次有效投票结果为准。 一、会议召开和出席的情况 （一）会议召开情况 1、会议召开时间： （1）现场会议召开时间：2024 年 4 月 17 日（周三）下午 14:30 开始； （2）网络投票时间：通过深圳证券交易所交易系统进行网络投 票的具体时间为：2024年4月17日 ...

证券代码：300795 证券简称：米奥会展 公告编号：2024-021 浙江米奥兰特商务会展股份有限公司 关于召开2023年年度股东大会的提示性公告 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。 浙江米奥兰特商务会展股份有限公司（以下简称"公司"）于 2024 年 3 月 27 日在中国证监会指定创业板信息披露网站巨潮资讯网 （www.cninfo.com.cn）披露了《关于召开公司 2023 年年度股东大会 通知的公告》（公告编号：2024-020），本次股东大会将采取现场投 票与网络投票相结合的方式召开，根据相关规定，现将本次会议的有 关情况提示如下： 一、召开会议的基本情况 1、股东大会届次：2023 年年度股东大会 2、股东大会的召集人：公司董事会 3、会议召开的合法、合规性：根据公司第五届董事会第二十二 次会议决议，本次股东大会会议的召开程序符合《公司法》及《公司 章程》等相关规定。 4、会议召开的日期、时间： （1）现场会议召开时间：2024 年 4 月 17 日（周三）下午 14:30 开始； 第 1 页 共 12 页 （2）网络投票时间：通过 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company achieved a revenue of 835 million yuan, representing a year-on-year growth of 139.72%, and a net profit attributable to shareholders of 188 million yuan, with a year-on-year increase of 273.54% [3] - The company has successfully transitioned to hosting professional exhibitions, significantly increasing the number of exhibition booths and enhancing its competitive advantage in line with national policy directions [3] - The company plans to host 16 exhibitions in 2024, with an expected total booth count of 19,000, which will further improve profit margins [3] Financial Performance - In Q4 2023, the company reported a revenue of 366 million yuan, a year-on-year increase of 75.1%, and a net profit of 106 million yuan, up 68.55% year-on-year [3] - The company’s operating cash flow reached 271 million yuan, reflecting a growth of 257.62% year-on-year [3] - The projected net profits for 2024, 2025, and 2026 are 261 million yuan, 355 million yuan, and 469 million yuan, respectively, with growth rates of 38.53%, 36.23%, and 32.09% [3][14] Market Position - The company has established itself as a leading exhibition company in China, hosting 18 exhibitions across 10 countries, with a total exhibition area of 260,000 square meters [3] - The company’s digital transformation has led to a significant reduction in sales expense ratios, enhancing operational efficiency [3] Future Outlook - The expected earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 1.70 yuan, 2.32 yuan, and 3.07 yuan, respectively [14] - The price-to-earnings (PE) ratios for the same period are forecasted to be 24X, 17X, and 13X, indicating a favorable valuation trend [14]

证券研究报告·公司点评报告·专业服务 2023 年年报点评：赢得翻身仗，迈向黄金时 代 2024 年 03 月 29 日 ◼ 事件：公司发布 2023 年业绩，总营收 8.35 亿元(yoy+140%)；归母净利润 1.88 亿元（yoy+274%）。分红方面，每 10 股现金分红 5 元（含税），以资 本公积金每 10 股转增 5 股。 ◼ 公司打了一个漂亮的翻身仗。以 2019 年为基数，收入、归母净利润分别 增长 96%、185%，4 年复合增速分别为 18%、30%；毛利率、净利率分别 提升了 3.7 个、8.1 个 PCT，分别为 50%、23.6%；销售费用率下降了 4.2 个 PCT，为 16.7%；收现比提升了 3.8 个 PCT，为 103.1%；公司摊位数量 增长了 43.8%，而统计显示中国出海参办展的总规模略有下降。 2023 年底合同负债 0.96 亿元，同比增长 33%，我们预计自办展的合同负 债同比增长接近 100%，主要原因是品牌力提升。 ◼ 打穿重点市场，打造展览工厂。2023 年公司持续在迪拜、印尼和日本重 点投入，迪拜及印尼单展会达到了 3200 和 1500 个摊位，实 ...

证 券 研 究 报 告 | --- | --- | |------------------------------|------------------------| | | | | | | | 基础数据 : 2023 | 年 12 月 31 日 | | | 4.29 | | 每股净资产（元） | | | 资产负债率 % | 21.77 | | 总股本/流通 A 股（百万） | 153/88 | | 流通 B 股/H 股（百万） | -/- | 社会服务 ——国际化布点逐步落地，数字化驱动降本提效 一年内股价与大盘对比走势： 相关研究 证券分析师 赵令伊 A0230518100003 zhaoly2@swsresearch.com 研究支持 杨光 A0230122100004 yangguang@swsresearch.com 联系人 杨光 (8621)23297818× yangguang@swsresearch.com ⚫ 外贸订单韧性较强，公司深耕一带一路和 RCEP 国家，为中国企业出海"造船"。根据公 司公告，23 年我国进出口总值 41.76 万亿元人民币，同比增长 0.2%，与"一带一路"国 家 ...

[Table_Market] 市场数据 2024-03-26 A 股收盘价(元) 39.32 上证指数 3,031.48 实际流通A股(万股) 8,768 流通 A 股市值(亿元) 34 [Table_Title] 业绩、逻辑全面兑现，公司中期成长动 能依然充足 核心观点： [Table_Summary] 事件：2023 年公司实现营收 8.35 亿元/同比+140%，实现归母净利 1.88 亿元/ 同比+274%，实现扣非净利 1.82 亿元/同比+406%。其中，4Q23 公司实现营收 3.66 亿元/同 比+75%，实 现归母 净利 1.06 亿元/同比+70%，实 现扣非 母净利 1.04 亿元/同比+91%。 ⚫ 规模、品牌效应显现，公司盈利能力创历史新高 [Table_Authors] 顾熹闽 ：18916370173 ：guximin_yj@chinastock.com.cn 分析师登记编码：S0130522070001 资料来源：中国银河证券研究院 [Table_Research] 【银河社服】米奥会展：Q4 业绩略超预期，专业展布 局初见成果 www.chinastock.com.cn 证券 ...

Investment Rating - The report maintains an "Accumulate" rating for the company, with a market price of RMB 40.33 and an industry rating of "Outperform" [1][3]. Core Views - The company has experienced significant growth in 2023, with revenue reaching RMB 835 million, a year-on-year increase of 139.72%, and a net profit of RMB 188 million, up 273.54% [16]. - The recovery of overseas self-organized exhibitions has driven the company's performance, and the transition to specialized exhibitions is expected to contribute to future growth [16]. - The company is expanding its global footprint by focusing on countries along the RCEP and "Belt and Road" initiatives, successfully hosting exhibitions in ten countries in 2023 [16]. - The introduction of eight specialized exhibitions in 2023 has shown promising trends, with significant participation and exhibition space [16]. Financial Summary - The company's projected revenue for 2024 is RMB 1,055 million, with a growth rate of 26.3% [8]. - The expected net profit for 2024 is RMB 270 million, reflecting a growth rate of 43.5% [8]. - The earnings per share (EPS) for 2024 is estimated at RMB 1.77, with corresponding price-to-earnings (P/E) ratios of 22.8 for 2024, 16.9 for 2025, and 14.7 for 2026 [8][16]. - The company has a strong cash flow position, with operating cash flow projected to reach RMB 333 million by 2024 [17].

Financial Performance - The company achieved operating revenue of 834.97 million yuan, a year-on-year increase of 139.72%[9] - The total profit reached 229.51 million yuan, reflecting a year-on-year growth of 315.89%[9] - Net profit amounted to 197.26 million yuan, up 285.68% compared to the previous year[9] - Total assets increased to 868.45 million yuan, representing a growth of 45.84% year-on-year[9] - Equity attributable to shareholders rose to 656.26 million yuan, a year-on-year increase of 46.61%[9] - The company's operating revenue for 2023 reached ¥834,970,775, representing a 139.72% increase compared to ¥348,312,961 in 2022[30] - Net profit attributable to shareholders for 2023 was ¥188,207,680, a significant increase of 273.54% from ¥50,385,049 in the previous year[30] - The net cash flow from operating activities for 2023 was ¥271,369,271, marking a 257.62% increase from ¥75,882,729 in 2022[30] - Basic earnings per share for 2023 were ¥1.24, up 264.71% from ¥0.50 in 2022[30] - The company's net assets attributable to shareholders increased by 46.61% to ¥656,263,898 in 2023 from ¥447,639,856 in 2022[30] Market and Industry Trends - The exhibition industry in China is experiencing a comprehensive recovery, supported by improved foreign trade and international cooperation[7] - The global exhibition industry has fully recovered, with average revenues in 2023 reaching levels comparable to 2019, and over half of companies expect revenue growth[44] - The company’s exhibition activities are primarily focused on the Belt and Road Initiative and RCEP markets, accounting for over 99% of total exhibitions held in 2023[44] - The company is benefiting from supportive government policies aimed at promoting overseas exhibitions and trade, enhancing its market expansion efforts[45] - The company’s exports to RCEP countries grew by 5.3% compared to pre-agreement levels in 2021, indicating a positive trend in regional trade[41] Strategic Initiatives - The company is focused on enhancing productivity and adapting to market demands through strategic adjustments and organizational optimization[8] - The company is actively exploring new market opportunities to assist foreign trade enterprises in expanding their overseas presence[8] - The company has transitioned from comprehensive exhibitions to specialized exhibitions, launching eight major professional exhibitions concurrently in 2023[51] - The company is focused on developing new products and technologies to enhance its competitive edge in the market[101] - The company is committed to fostering a global self-organized exhibition marketing chain, leveraging its qualifications and resources for outbound exhibitions[124] Risk Management - The management acknowledges potential risks including macroeconomic fluctuations and geopolitical uncertainties affecting overseas exhibitions[9] - Currency exchange rate fluctuations pose a risk to the company's operating costs, particularly in its overseas exhibition business[127] - Political and economic risks in host countries may impact the company's overseas exhibition operations, potentially affecting revenue and incurred costs[129] Employee and Governance - The company has established a performance assessment framework for its executives, linking compensation to operational performance metrics[181] - The total compensation for directors and senior management during the reporting period was 5 million CNY, fully paid as per the established remuneration standards[181] - The company has implemented an annual training plan to enhance employee development and skills[196] - The company has a structured approach to employee compensation, adhering to national labor laws and providing social insurance[195] Future Outlook - The company plans to enhance its digital infrastructure, focusing on building a big data operation platform to improve exhibition quality and operational efficiency[122] - The company anticipates challenges from macroeconomic fluctuations, with the IMF predicting global economic growth to slow to 2.9% in 2024[126] - The company plans to expand its market presence through strategic investments and potential acquisitions in the upcoming quarters[101] - Future guidance indicates a continued growth trajectory, with expectations of maintaining a revenue increase of over 20% in 2023[162] Dividend and Shareholder Information - The company plans to distribute a cash dividend of 5 yuan per 10 shares, with a capital reserve conversion of 5 shares for every 10 shares held[10] - The total distributable profit for the year is 77,467,082.14 CNY, which is 100% of the profit distribution total[199] - A cash dividend of 5.00 CNY per 10 shares will be distributed, totaling 76,480,645.00 CNY (including tax)[200] - The company plans to increase its total share capital by 5 shares for every 10 shares held, resulting in a total share capital of 229,441,935 shares post-distribution[200]

公司 2023 年收入超额完成股权激励目标，净利润与业绩快报基本一致。2023 年公司收入 8.3 亿元，同比增长 139.7%，较 2019 年增长 96.1%，超额完成 股权激励目标（6 亿）；归母净利润 1.9 亿元，同比增长 273.5%，较 2019 年增长 184.7%，与业绩快报一致，归母净利率 22.5%。Q4 公司收入 3.7 亿元， 同比增长 75.1%；归母净利润 1.1 亿元，同比增长 68.6%，对应归母净利率 29.1%。2023 年公司宣布派息 7648 万元，占可供分配利润（按母公司与合并 报表孰低原则）的 99%，归母净利润分红率为 41%；同时每 10 股转增 5 股。 2023 年公司核心展会销售规模创新高，部分市场受签证航班因素扰动。公 司原计划在 12 个国家办展，实际在一带一路、RCEP、新兴市场等 10 个国家 举办约 16 场自办展，总办展面积 26 万平方米，其中展位净面积近 12 万平 方米，总意向成交额达到 146 亿美元。其中，核心区域销售规模突破新高， 阿联酋、印尼、日本展会规模预计占总体超过 70%。阿联酋迪拜展已连续举 办 15 年，2023 年如 ...