米奥会展营收净利双降 分红“豪气”不减

Group 1 - The core viewpoint of the article highlights that Miao Exhibition (300795.SZ) experienced a decline in revenue and profit due to pressures in the Chinese foreign exhibition industry, with a significant drop in net profit despite exceeding cash dividend distribution compared to net profit [1][2] Group 2 - In the first half of 2025, Miao Exhibition reported revenue of 241 million yuan, a year-on-year decrease of 7.43%, and a net profit attributable to shareholders of 15.54 million yuan, down 61.84% [1] - The decline in revenue was attributed to the cancellation of some exhibitions, reducing the number of projects from six to five [1] - The significant drop in net profit was due to two main reasons: first, the implementation of supportive policies for foreign trade enterprises to reduce their exhibition costs, and second, increased investment in AI technology and marketing [1] Group 3 - The company announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 0.67 yuan per 10 shares, totaling 19.79 million yuan, which exceeds 100% of the current net profit [2] - Miao Exhibition maintains a reasonable asset-liability structure, with a debt ratio of 29.94% at the end of the reporting period, and good operating cash flow, indicating that the dividend distribution will not significantly impact its debt repayment ability [2]