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 ...

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 ...

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, with expected PE ratios of 23, 15, and 11 times for 2024, 2025, and 2026 respectively [1]. Core Views - The company has demonstrated a significant turnaround, achieving total revenue of 835 million yuan in 2023, a year-on-year increase of 140%, and a net profit attributable to shareholders of 188 million yuan, up 274% year-on-year [1]. - The company is focusing on key markets such as Dubai, Indonesia, and Japan, with substantial investments leading to a notable upgrade in brand recognition and an increase in booth numbers [1]. - The company is undergoing a "four transformations" strategy: digitalization, specialization, platformization, and internationalization, which are expected to enhance its competitive edge and operational efficiency [1]. - The report anticipates a golden era for the company, driven by the increasing demand for Chinese brands in international markets, particularly in the context of the Belt and Road Initiative and RCEP regions [1]. Financial Summary - The company's total revenue is projected to reach 1.12 billion yuan in 2024, 1.60 billion yuan in 2025, and 2.02 billion yuan in 2026, with year-on-year growth rates of 34.26%, 43.15%, and 25.62% respectively [8]. - The net profit attributable to shareholders is forecasted to be 269 million yuan in 2024, 411 million yuan in 2025, and 550 million yuan in 2026, reflecting growth rates of 42.95%, 52.92%, and 33.71% respectively [8]. - The report highlights an increase in cash flow from operating activities, projected at 373 million yuan in 2024 and 548 million yuan in 2025 [5].

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]

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].

[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 ...

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 ...

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price of 40.33 CNY [2][16]. Core Viewpoints - The company has achieved remarkable results in 2023, with a record high in exhibition scale, benefiting from favorable trade policies such as the Belt and Road Initiative and RCEP agreement. The company organized nearly 8,800 overseas exhibitions, with over 13,000 booths, accounting for more than 50% of the approved overseas exhibition projects in 2023 [1][2]. - The company's net profit for 2023 reached 188 million CNY, representing a year-on-year increase of 273.54%, primarily due to a significant increase in revenue from overseas self-organized exhibitions. The earnings per share (EPS) for 2023 was 1.24 CNY, up 264.71% year-on-year [13][14]. - The company is advancing its professional and digital exhibition capabilities, transitioning from comprehensive exhibitions to eight specialized exhibitions, enhancing service capabilities and brand strength. The use of AI in data matching and content generation is also being implemented [14]. Financial Forecast and Key Indicators - The company is projected to achieve a net profit of 273 million CNY in 2024, 359 million CNY in 2025, and 459 million CNY in 2026, with corresponding price-to-earnings (PE) ratios of 23x, 17x, and 13x respectively [2][3]. - Revenue is expected to grow from 835 million CNY in 2023 to 1.666 billion CNY in 2026, with growth rates of 139.7% in 2023, 27.7% in 2024, and 25% in the following years [3][17]. - The gross profit margin for 2023 was 50.1%, with a projected increase to 52.1% in 2024 [13][7]. - The company's total assets are forecasted to grow from 868 million CNY in 2023 to 980 million CNY in 2026, while the debt-to-asset ratio is expected to rise from 21.77% to 42.23% over the same period [8][7].

Investment Rating - The report maintains an "Accumulate" rating for the company [3][9][38] Core Insights - The company exceeded its equity incentive target for 2023, achieving a revenue of 830 million yuan, a year-on-year increase of 139.7%, and a net profit of 190 million yuan, up 273.5% year-on-year [1][6][9] - The company plans to hold 16 exhibitions in 11 countries in 2024, focusing on core regions like UAE, Indonesia, and Japan, while also expanding into second-tier markets such as Mexico, Brazil, India, and the USA [8][9][18] - The company has successfully transformed its exhibition strategy, upgrading from comprehensive exhibitions to eight specialized exhibitions, which is expected to enhance its market presence [8][9] Financial Performance - In 2023, the company reported a net profit margin of 22.5%, with a fourth-quarter net profit margin of 29.1% [1][6] - The company announced a dividend of 76.48 million yuan, representing 99% of the distributable profit, with a dividend payout ratio of 41% [1][6] - Revenue and net profit forecasts for 2024-2026 are set at 1.198 billion yuan, 1.519 billion yuan, and 1.891 billion yuan respectively, with corresponding net profits of 267 million yuan, 363 million yuan, and 466 million yuan [4][9][28] Market Position and Strategy - The company is positioned as a leader in overseas self-organized exhibitions, benefiting from the trend of domestic enterprises expanding into RCEP and Belt and Road markets [9][18] - The company has completed its layout and structural optimization in major countries over the past two years, which is expected to yield positive results in the upcoming years [8][9] - The report highlights the potential for further optimization following the completion of the previous round of equity incentives [8][9]