香港聯合交易所有限公司及證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表明概不就因本申請版本全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 Zhejiang Meorient Commerce & Exhibition Inc.* 浙 江 米 奧 蘭 特 商 務 會 展 股 份 有 限 公 司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 之申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」）的 要求而刊發，僅用作提供資料予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代 表 閣下知悉、接納並向本公司、本公司的獨家保薦人、整體協調人、顧問或包銷團成員表示同意： 倘於適當時候向香港公眾人士提出要約或邀請，準投資者務請僅依據與香港公司註冊處處長註冊的 本公司招股章程作出投資決定，招股章程的文本將於發售期內向公眾派發。 * 僅供識別。 (a) 本文件僅為向香港公眾提供有關本公司的資料，概無任何其他目的。投資者不應根據本 ...

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Zhejiang Meorient Commerce & Exhibition Inc.* 浙 江 米 奧 蘭 特 商 務 會 展 股 份 有 限 公 司 (the "Company") (A joint stock compan ...

Summary of the Conference Call for Miao Exhibition Company Overview - **Company**: Miao Exhibition - **Industry**: Exhibition and Trade Shows Key Points and Arguments 1. Exhibition Growth and Financial Performance - In 2025, the number of exhibitions is expected to grow by nearly 20%, reaching approximately 15,000 events, despite challenges such as visa issues in India and high discount demands from clients, leading to a projected profit decline compared to 2024 [2][4][25] - The average revenue per position is expected to drop below 55,000 yuan, lower than the 55,000-56,000 yuan range in 2024 [2][16] 2. Strategic Expansion Plans - The company plans to focus on expanding industrial exhibitions in Indonesia, Vietnam, Saudi Arabia, and Brazil in 2026, particularly capitalizing on Saudi Arabia's economic reforms and diversification strategy [2][6][10] - The company aims to deepen its presence in Southeast Asia and the Middle East, with specific measures to enhance its market share in these regions [8][10] 3. AI Exhibition Development - AI Exhibition 1.0 has been launched with six key features, achieving a purchase rate of about 45% [2][11] - AI Exhibition 2.0 is set to be fully launched before the Spring Festival, with a target to exceed a 50% purchase rate and generate revenue of 100 million yuan in 2026 [2][12][19] 4. Hong Kong IPO and Fundraising - The decision to list on the Hong Kong stock exchange is driven by the need for an international capital market to support overseas acquisitions, with plans to raise approximately 300-400 million yuan for this purpose [2][13][21] - The company aims to acquire exhibitions in Southeast Asia, the Middle East, Brazil, and South Africa, focusing on those with high internationalization and brand influence [21][22] 5. Supply Chain Initiatives - A new supply chain company has been established to address import challenges faced by small buyers, aiming to enhance participation rates and create new revenue streams [2][14] - The company plans to pilot this model in Indonesia and Brazil in 2026, leveraging partnerships to provide comprehensive supply chain services [2][14] 6. Future Revenue and Profit Expectations - For 2025, revenue is expected to grow by about 10%, but profits are projected to decline to between 120-130 million yuan, down from 140-150 million yuan in 2024 [2][25] - In 2026, with the introduction of overseas warehouse operations, both revenue and profit are anticipated to increase by over 20% [2][25] 7. Market Focus and Challenges - The company is shifting its focus away from India due to visa issues and is prioritizing markets in the Middle East and Southeast Asia, which are seen as more stable and promising [17] - The overall discount rate has increased, impacting revenue per position and profit margins [16] 8. Customer Retention and Future Strategies - The expected repurchase rate for 2025 is around 30%, indicating room for improvement in customer retention strategies [20] - The company plans to enhance service quality and digital exhibition methods to improve repurchase rates, particularly for VIP clients [20] 9. Dividend Policy - The company intends to allocate over 80% of its annual profits for dividends, while also considering potential investments in overseas operations [24] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Miao Exhibition's growth trajectory, market strategies, and financial outlook.

Investment Rating - The report rates the industry as "Overweight," indicating a positive outlook for the sector compared to the overall market performance [2]. Core Insights - The report highlights a moderate recovery in consumer spending, with tourism-related prices showing strong performance. The national CPI increased by 0.7% year-on-year in November 2025, reflecting a continued recovery in consumer spending [2][7]. - Hotel prices have shown resilience despite seasonal demand fluctuations, with the average hotel room price maintaining positive growth year-on-year. The RevPAR (Revenue Per Available Room) has only slightly declined, indicating a shift from a volume-driven recovery to a price-stabilized and optimized operational approach [2][8]. - The introduction of REITs (Real Estate Investment Trusts) in the service industry is expected to clarify the asset securitization path for various service sectors, including tourism and hospitality. This initiative aims to revitalize existing assets and improve financial structures [2][22][23]. Summary by Sections 1. Hotel Structure Differentiation and Price Resilience - The hotel industry is experiencing a seasonal decline in occupancy rates, but average room prices remain stable, with an ADR (Average Daily Rate) of 388.8 CNY per night in early December, up 4.3% year-on-year [8][10]. - The RevPAR for the week ending December 6, 2025, was 233 CNY per night, showing only a 0.4% decline year-on-year, indicating a recovery phase focused on price stability and operational efficiency [8][10]. 2. REITs Supporting Asset Securitization in the Service Industry - The newly released REITs project industry scope includes cultural tourism infrastructure and commercial facilities, allowing for a clearer path to asset securitization for hotels and tourist attractions [22][23]. - The report emphasizes that the inclusion of high-quality service industry assets in the REITs framework will enhance cash flow stability and operational efficiency, ultimately benefiting the valuation and investment landscape of the sector [22][24]. 3. Valuation of Key Industry Companies - The report provides a detailed valuation of key companies in the tourism and hospitality sectors, including metrics such as market capitalization and PE ratios, indicating a diverse range of investment opportunities [26]. - Notable companies highlighted for investment consideration include tourism sites like Sanxia Tourism and hotels like Shoulu Hotel and Huazhu [26].

证券代码：300795 证券简称：米奥会展 公告编号：2025-082 浙江米奥兰特商务会展股份有限公司 2025年第三次临时股东会决议公告 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、本次股东会没有出现否决议案的情况； 2、本次股东会不涉及变更以往股东会已通过决议的情况； 3、本次股东会审议的议案对中小投资者的表决单独计票。 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：2025 年 12 月 12 日（周五）下午 14:45 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：2025 年 12 月 12 日 9:15—9:25，9:30—11:30 和 13:00—15:00；通过深圳证券交易所互联网投票系统投票的具体时间 为：2025 年 12 月 12 日 9:15 至 2025 年 12 月 12 日 15:00 期间的任 意时间。 2、会议召开方式：本次会议采取现场投票与网络投票相结合的 第 1 页 共 16 页 方式召开。 （1）现场投票：包括本人出席 ...

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 2025 年第三次临时股东会的 法律意见书 二〇二五年十二月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 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 2025 年第三次临时股东会的 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、梁严鑫律师出席并 见证公司 2025 年第三次临时股 ...

证券日报网讯 12月10日，米奥会展（300795）在互动平台回答投资者提问时表示，目前根据既定计 划，明年美国展会暂无恢复安排，而日本AFF展会将继续按计划推进。公司将持续关注国际形势变化， 灵活优化布局，为客户创造价值。 ...

每经AI快讯，米奥会展（300795.SZ）12月10日在投资者互动平台表示，公司始终基于全球市场需求和 战略布局规划业务发展。目前根据既定计划，明年美国展会暂无恢复安排，而日本AFF展会将继续按计 划推进。 （文章来源：每日经济新闻） ...

证券代码：300795 证券简称：米奥会展 公告编号：2025-081 浙江米奥兰特商务会展股份有限公司 关于召开2025年第三次临时股东会的提示性公告 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 2025 年 11 月 25 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 2025 年第三次临时股 东会通知的公告》（公告编号：2025-079），本次股东会将采取现场投 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： （1）现场会议时间：2025 年 12 月 12 日 14:45 第 1 页 共 10 页 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的 具体时间为2025年12月12日9:15-9:25，9:30-11:30，13:00-15:00； 通过深圳证券交易所互联网投票系统投票的具体时间为2025年12月 12 日 9:15 至 15:00 的任意时间。 一、召开会议的基本情况 1、股东会 ...

米奥会展所属申万行业为：社会服务-专业服务-会展服务。所属概念板块包括：微盘股、小盘、送转填 权、首发经济、跨境电商等。 12月2日，米奥会展盘中上涨2.06%，截至10:14，报15.88元/股，成交7006.32万元，换手率2.59%，总市 值47.46亿元。 资金流向方面，主力资金净流入654.77万元，特大单买入120.10万元，占比1.71%，卖出0.00元，占比 0.00%；大单买入1300.90万元，占比18.57%，卖出766.23万元，占比10.94%。 米奥会展今年以来股价涨5.07%，近5个交易日涨7.88%，近20日涨11.60%，近60日跌0.59%。 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100.00%。 截至9月30日，米奥会展股东户数1.20万，较上期减少6.98%；人均流通股14435股，较上期增加7.36%。 2025年1月-9月，米奥会展实现营业收入4.01亿 ...