证券代码：002209 证券简称：达意隆 广州达意隆包装机械股份有限公司 投资者关系活动记录表 编号：2025-007 投资者关系活动类别 ☑ 特定对象调研 □媒体采访 □新闻发布会 □现场参观 □分析师会议 业绩说明会 □路演活动 □其他(请文字说明其他活动内容) 活动参与人员 一、参与机构及人员 兴业证券 祁佳仪、中信建投证券 吴雨瑄、红土创新基金 郑 伟佳、星石投资 孔嘉祥、平安基金 张聪、招商证券 朱艺 晴、奇盛基金 李飞廉、光大永明资产 蒋冰 二、上市公司接待人员 副总经理、董事会秘书：王燕囡女士 时间 2025 年 11 月 26 日、2025 年 11 月 27 日 地点 公司会议室 形式 现场调研 交流内容及具体问答 记录 一、公司产品体系及经营情况介绍 二、互动交流 1、公司的境外销售主要是通过什么途径？ 答：对于国际市场，公司采用代理销售为主、直接销售为辅 的模式进行销售，在部分区域自主开发市场。 2、公司目前有没有代加工业务？ 答：公司具备为下游饮料、日化等行业内品牌企业提供代加 工的服务能力。2025年上半年，公司代加工收入约为5,791.58 万元，占公司营业收入的6.05%。 3、 ...

Core Insights - SF Holding reported a revenue of 225.26 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 8.89% [1] - The net profit attributable to shareholders for the same period was 8.31 billion yuan, an increase of 9.07% year-on-year [1] - In Q3, the total parcel volume reached 4.31 billion, marking a significant year-on-year growth of 33.4% [1] Financial Performance - In Q3, the company achieved a net profit of 2.57 billion yuan, a decline of 8.53% year-on-year [1] - The net profit excluding non-recurring gains and losses was 2.23 billion yuan, down 14.17% year-on-year [1] - The gross profit for Q3 was 9.79 billion yuan, a decrease of 4.4% year-on-year [1] Business Segments - The express logistics business saw a revenue increase of 14.4% year-on-year, indicating stable performance [2] - Revenue from supply chain and international business declined by 5.3%, primarily due to a significant drop in international freight forwarding revenue [2] - Excluding the impact of international freight, revenue from international express and cross-border e-commerce logistics grew by 27% [2] Cash Flow and Receivables - Operating cash flow faced pressure, with a net cash flow from operating activities of 19.42 billion yuan, down 13.91% year-on-year [2] - Accounts receivable increased from 27.72 billion yuan at the beginning of the year to 29.36 billion yuan by the end of the reporting period [2] Future Outlook - Management aims to achieve a net profit attributable to shareholders in Q4 2025 that is roughly flat year-on-year, with a steady growth forecast for the annual net profit [2] - The company announced an adjustment to its share repurchase plan, increasing the total repurchase amount from a range of 0.5 billion to 1 billion yuan to a new range of 1.5 billion to 3 billion yuan [2]