Summary of Conference Call Company and Industry Involved - The conference call involves Xingye Securities and Miao Exhibition Company [1] Core Points and Arguments - The call is primarily for the clients of Xingye Securities, indicating a focus on investor relations and communication [1] - The audio and text records of the meeting are proprietary to Xingye Securities, emphasizing the importance of confidentiality and compliance [1] Other Important but Possibly Overlooked Content - All participants are muted at the beginning of the call, which suggests a structured format for the meeting [1] - The meeting serves as a platform for discussing relevant updates and insights regarding Miao Exhibition Company, although specific details were not provided in the excerpt [1]

Summary of Conference Call Company/Industry Involved - The conference call pertains to Guotai Junan Securities, a financial services company in the securities industry [1] Core Points and Arguments - The content of the conference call is strictly for the internal learning of Guotai Junan Securities' officially signed clients and is not to be disseminated externally without prior approval from the research department [1] - Guotai Junan Securities has not authorized any media to forward the content of this conference call [1] Other Important but Possibly Overlooked Content - The audio and text records of the conference call are intended solely for the use of Guotai Junan Securities clients, emphasizing the confidentiality and proprietary nature of the information shared [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][9]. Core Views - The company has launched a stock incentive plan aimed at high-level executives and core technical personnel, reflecting confidence in its growth potential and market conditions [2][3]. - The company is expected to benefit from a favorable short-term market environment, mid-term opportunities from Chinese enterprises going global, and long-term transformation into a professional exhibition entity to enhance global competitiveness [19]. Financial Summary and Valuation Metrics - Revenue projections show significant growth from 348 million in 2022 to an estimated 1,704 million by 2026, with year-over-year growth rates of 91.8% in 2022, 139.7% in 2023, and gradually decreasing to 21.2% by 2026 [4]. - The net profit attributable to the parent company is projected to increase from 50 million in 2022 to 466 million by 2026, with year-over-year growth rates of 187.4% in 2022 and 273.5% in 2023, tapering to 22.5% by 2026 [4]. - The gross margin is expected to improve from 49.3% in 2022 to 52.6% in 2026, while the net margin is projected to rise from 14.7% to 28.2% over the same period [4]. - The company's P/E ratio is forecasted to decrease from 101.0 in 2022 to 10.9 by 2026, indicating a more attractive valuation as earnings grow [4]. Incentive Plan and Management Changes - The stock incentive plan includes a total of 3.5338 million restricted shares, representing 1.54% of the company's total equity, with a grant price of 10.61 yuan per share [19]. - The plan aims to enhance employee cohesion and stabilize the team while motivating the management [19]. - The company has appointed two new executives with extensive backgrounds in human resources and digital strategy to support its growth objectives [19][20].

Investment Rating - The report assigns a "Buy" rating for the company, expecting the stock price to outperform the market by more than 10% over the next 12 months [13][35]. Core Insights - The company announced a restricted stock incentive plan for 2024, aiming to grant up to 3.5338 million shares, accounting for 1.54% of the total share capital. The plan includes an initial grant of 3.1338 million shares (88.68% of the plan) and a reserve of 400,000 shares (11.42%) [12]. - The performance targets for the incentive plan are set for 2024-2026, with expected total revenues of 1.305 billion, 1.631 billion, and 2.039 billion yuan, representing year-on-year growth rates of 56.5%, 25%, and 25%, respectively. The net profit attributable to the parent company is projected to be 273 million, 328 million, and 393 million yuan, with growth rates of approximately 50%, 20%, and 20% [12]. - The company anticipates a compound annual growth rate (CAGR) of 35% for revenue and 29.3% for net profit over the same period [12]. - The report maintains a fair value estimate of 29.81 yuan per share, corresponding to a price-to-earnings (P/E) ratio of 25 times for 2024 [18]. Financial Projections - The company is expected to achieve net profits of 280 million, 350 million, and 420 million yuan for 2024, 2025, and 2026, with year-on-year growth rates of 47.4%, 25.6%, and 21.6% [18]. - Revenue projections for the years 2024 to 2026 are 1.309 billion, 1.671 billion, and 2.051 billion yuan, with growth rates of 56.8%, 27.7%, and 22.7% respectively [20]. - The EBITDA for the same period is forecasted to be 345 million, 417 million, and 511 million yuan [20].

Investment Rating - The investment rating for the company is "Buy" [1] Core Insights - The company's stock incentive plan aims to motivate growth potential by granting equity to a maximum of 208 individuals, including senior management and key technical/business personnel, with a total of 3.534 million shares, representing 1.54% of the total share capital [2][10] - The performance assessment for the incentive plan targets revenue of 1.305 billion, 1.631 billion, and 2.039 billion yuan for the years 2024, 2025, and 2026, reflecting year-on-year growth of 56%, 25%, and 25% respectively [11] - The estimated net profit attributable to the parent company for 2024, 2025, and 2026 is projected to be 260 million, 330 million, and 420 million yuan, with corresponding price-to-earnings ratios of 18x, 14x, and 11x [2] Financial Summary - The company's total revenue for 2023 is projected at 835 million yuan, with a year-on-year growth rate of 139.7% [26] - The net profit attributable to the parent company for 2023 is estimated at 188 million yuan, showing a year-on-year increase of 273.5% [26] - The gross profit margin is expected to be 50.1% in 2023, with projections of 51.3% and 51.4% for 2024 and 2025 respectively [26]

2024 年限制性股票激励计划自查表 公司简称：米奥会展 股票代码： 300795 独立财务顾问: 上海荣正企业咨询服务（集团）股份有限公司 | | | 是否存在该 事项（是/ | | | --- | --- | --- | --- | | 序号 | 事项 | 否/不适 | 备注 | | | | 用） | | | | 上市公司合规性要求 | | | | | 最近一个会计年度财务会计报告是否被注册会计师出具 | | | | 1 | | 否 | | | | 否定意见或者无法表示意见的审计报告 | | | | 2 | 最近一个会计年度财务报告内部控制被注册会计师出具 | 否 | | | | 否定意见或者无法表示意见的审计报告 | | | | 3 | 上市后最近 36 个月内出现过未按法律法规、公司章程、 | 否 | | | | 公开承诺进行利润分配的情形 | | | | 4 | 是否存在其他不适宜实施股权激励的情形 | 否 | | | 5 | 是否已经建立绩效考核体系和考核办法 | 是 | | | 6 | 是否为激励对象提供贷款以及其他任何形式的财务资助 | 否 | | | | 激励对象合规性要求 | | 被激励 ...

证券代码：300795 证券简称：米奥会展 公告编号：2024-032 浙江米奥兰特商务会展股份有限公司 关于聘任公司高级管理人员的公告 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 6 月 3 日召开了第五届董事会第二十四次会议，审议通过了《关于 聘任公司高级管理人员的议案》，同意聘任郑旻先生、邓萌先生担任 公司副总经理，任职期限自董事会审议通过之日起至本届董事会换届 之日止。 一、关于聘任公司副总经理的情况 因公司经营管理需要，根据《公司法》《证券法》《深圳证券交易 所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》等法律、法规、规范性文件及《公 司章程》等有关规定，经公司总经理提名，董事会提名委员会资格审 查，董事会审议通过，同意聘请郑旻先生、邓萌先生（简历详见附件） 担任公司副总经理，任期自本次董事会审议通过之日起至第五届董事 会届满之日止。 二、备查文件 1、公司第五届董事会第二十四次会议决议； 2、第四届董事会提名委员会第四次会议决 ...

证券代码：300795 证券简称：米奥会展 公告编号：2024-035 浙江米奥兰特商务会展股份有限公司 关于召开公司2024年第二次临时股东大会通知的公告 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。 根据《中华人民共和国公司法》（以下简称"《公司法》"）和《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》"） 等相关规定，浙江米奥兰特商务会展股份有限公司（以下简称"公 司"）第五届董事会第二十四次会议审议通过了《关于召开公司 2024 年第二次临时股东大会的议案》，决定于 2024 年 6 月 19 日（周三） 召开 2024 年第二次临时股东大会（以下简称"会议"或"本次会议"）。 本次股东大会采用现场投票与网络投票相结合的方式进行，现就召 开公司 2024 年第二次临时股东大会的相关事项通知如下： 一、召开会议的基本情况 1、股东大会届次：2024 年第二次临时股东大会 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二十四 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 ...

证券简称：米奥会展 证券代码：300795 浙江米奥兰特商务会展股份有限公司 2024 年限制性股票激励计划 （草案） 二零二四年六月 浙江米奥兰特商务会展股份有限公司 2024 年限制性股票激励计划（草案） 声 明 本公司及全体董事、监事保证本激励计划及其摘要不存在虚假记载、误导性 陈述或重大遗漏，并对其真实性、准确性、完整性承担个别和连带的法律责任。 本公司所有激励对象承诺，公司因信息披露文件中有虚假记载、误导性陈述 或者重大遗漏，导致不符合授予权益或权益归属安排的，激励对象应当自相关信 息披露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将由本激励计划 所获得的全部利益返还公司。 - 2 - 浙江米奥兰特商务会展股份有限公司 2024 年限制性股票激励计划（草案） 发生资本公积转增股本、派发股票红利、股份拆细或缩股、配股、派息等事宜， 限制性股票授予价格将根据本激励计划相关规定予以相应的调整。 五、本激励计划拟首次授予的激励对象不超过 208 人，包括公司公告本激励 计划时在公司（含控股子/孙公司，下同）任职的高级管理人员、核心技术/业务 人员。预留授予部分的激励对象在本激励计划经股东大会审议通过后 ...

证券简称：米奥会展 证券代码：300795 浙江米奥兰特商务会展股份有限公司 2024 年限制性股票激励计划 （草案）摘要 浙江米奥兰特商务会展股份有限公司 二零二四年六月 浙江米奥兰特商务会展股份有限公司 2024 年限制性股票激励计划（草案）摘要 声 明 本公司及全体董事、监事保证本激励计划及其摘要不存在虚假记载、误导性 陈述或重大遗漏，并对其真实性、准确性、完整性承担个别和连带的法律责任。 本公司所有激励对象承诺，公司因信息披露文件中有虚假记载、误导性陈述 或者重大遗漏，导致不符合授予权益或权益归属安排的，激励对象应当自相关信 息披露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将由本激励计划 所获得的全部利益返还公司。 特别提示 一、本激励计划系依据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司股权激励管理办法》《深圳证券交易所创业板股票上市规则》《深圳证 券交易所创业板上市公司自律监管指南第 1 号——业务办理》等其他有关法律、 法规、规范性文件以及《浙江米奥兰特商务会展股份有限公司章程》制订。 二、本激励计划采取的激励工具为限制性股票（第二类限制性股票）。股票 来源为浙江米奥兰特 ...