证券代码：600603 证券简称：ST 广物 公告编号：2025-048 广汇物流股份有限公司 关于为全资子公司提供担保的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 被担保人名称： 甘肃汇信物流有限公司（以下简称"甘肃汇信"）、瓜州汇景物 流有限公司（以下简称"瓜州汇景"），均系广汇物流股份有限公司 （以下简称"公司"）全资子公司。 ? 本次担保金额及已实际为其提供的担保余额：本次为甘肃汇信 分别提供 4,700.00 万元、300.00 万元的担保；本次为瓜州汇景提供 的担保金额为 1,300.00 万元。截至本公告披露日，已实际为甘肃汇 信提供的担保余额为 5,800.00 万元（含本次）；已实际为瓜州汇景 提供的担保余额为 1,300.00 万元（含本次）。 ? 本次担保是否有反担保：无 ? 对外担保逾期的累计数量：无 一、担保情况概述 （一）担保事项基本情况 因子公司业务发展需要，为加速核心业务发展，增强公司盈利能 力及进一步提升市场竞争力，公司已与甘肃瓜州农村商业银行股份有 限公司签订保 ...

Core Viewpoint - The company is facing challenges with goodwill impairment related to its acquisitions, specifically the underperformance of 廊坊京川 and 北汽华森, which did not meet their 2024 performance commitments, leading to a goodwill impairment loss of 4.0998 million yuan [3][4][12]. Financial Performance - 廊坊京川 and 北汽华森's performance completion rates for 2024 were 97.53% and 91.17% respectively, indicating a failure to meet the agreed profit targets [3][4]. - The revenue growth rate for 廊坊京川 was adjusted from 5.78% to a range of -9.02% to 0.00%, reflecting significant downward revisions in performance expectations [3][9]. - The company reported a total revenue of 3,618.94 million yuan for 2024, down from 4,128.70 million yuan in 2023, marking a decrease of 7.07% [5][6]. Goodwill Impairment Testing - The impairment testing revealed that both 廊坊京川 and 北汽华森 showed signs of impairment for the first time, necessitating a goodwill impairment loss [3][12]. - Key parameters for the impairment test were significantly adjusted, with the discount rate for 廊坊京川 changing from 2.66% to 1.68% and for 北汽华森 from 2.66% to 1.68% as well [10][12]. Supplier and Customer Information - The company provided details on its top five suppliers and customers, including transaction amounts and relationships, which are crucial for understanding its operational dependencies [4][8]. - The total transaction amount with major customers for 廊坊京川 was reported at 3,618.94 million yuan, while for 北汽华森, it was 6,038.23 million yuan [7][8]. Private Fund Investments - The company reported a beginning balance of 97.5 million yuan in private fund investments for 2024, with a fair value change loss of 12.79 million yuan, marking the first occurrence of such a loss [12][14]. - The company has invested in multiple private funds, with significant amounts allocated to various underlying assets, ensuring no funds flowed to actual controllers or related parties [14][15].

新京报讯（记者曹晶瑞）6月23日中午，在北京援疆28周年之际，京平综合物流枢纽、新疆和田铁路货 运站首列京疆亚货运班列正式发车，标志着北京新疆两地经济圈实现互联互通、双向奔赴。 中午12点，一列满载着29节汽车的京疆亚货运班列从北京平谷马坊站鸣笛出发，这趟列车将一路向西抵 达新疆，全程约4400公里。同一时间，满载着新疆和田及兵团第十四师特色大枣、葡萄干、面粉等16个 冷藏集装箱的班列，在新疆和田启航。 "列车从平谷出发至新疆乌鲁木齐，全程约五到七天，较传统汽运可提速20%以上。"京平畅联（北京） 物流科技有限公司总经理郑超介绍，列车采用"铁路+公路"多式联运，减少中转环节，实现"门到门"运 输，将物流时间成本压缩。规模化开行后，预计综合物流成本较空运下降30%，较传统陆运降低 10%-15%。 平谷区马坊镇副镇长张娇表示，京疆亚货运班列的双向开行，打通了京疆两地以及和中亚地区的物流大 通道。针对新疆特色农产品"质优价廉但运距受限"的产销矛盾，此次京疆亚货运班列发挥铁路运输全天 候、时效稳、成本优的独特优势，搭建起贯通产区与销区的物流新动脉。"一方面，班列精准对接本地 食品加工企业对新疆红枣、葡萄干等特色农产 ...

Group 1 - The sixth Qingdao Summit of Multinational Company Leaders concluded with three strategic cooperation agreements and 35 economic and trade projects signed, totaling approximately $20 billion in investment [1] - The 9th China-South Asia Expo featured 16 exhibition halls and over 2,500 participating companies, showcasing products from various countries, indicating a vibrant market [2] - The fourth China-Africa Economic and Trade Expo signed 176 projects worth $11.39 billion, reflecting a 45.8% increase in signed projects and a 10.6% increase in total value compared to the previous edition [2] Group 2 - The events serve as a bridge for international cooperation, with participants expressing optimism about opportunities in the Chinese market and a commitment to deepening market engagement [4] - New products and technologies were prominently featured, with a focus on innovations such as digital payment solutions and agricultural machinery, highlighting the evolving landscape of international trade [5] - China is enhancing its appeal as an investment destination, with infrastructure improvements and a large domestic market creating significant business opportunities [3][6] Group 3 - China is implementing policies to support trade with developing countries, including zero-tariff treatment for products from 33 African countries and several South Asian nations, facilitating greater market access [6] - The sixth Qingdao Summit introduced new forums and activities, emphasizing practical engagement and collaboration among multinational companies [7] - Upcoming international trade events, such as the Summer Davos Forum and the China-ASEAN Expo, are expected to further enhance China's role in global economic cooperation [7]

Core Viewpoint - The 2025 Shangri-La Matsutake Season series of events aims to enhance the local economy by promoting the unique matsutake mushroom industry in Diqing Prefecture, Yunnan Province, through various activities and marketing initiatives [1][2]. Group 1: Event Overview - The series of events will officially commence on July 4, 2025, in Shangri-La City, featuring seven major themed activities to promote highland specialty industries and improve cultural tourism experiences [1]. - The third Shangri-La Matsutake Forum will also take place on July 4, focusing on enhancing the brand and recognition of Shangri-La matsutake mushrooms [2]. Group 2: Marketing and Promotion Activities - From July, Diqing Prefecture will launch promotional activities to expand market channels for highland specialty products and stimulate consumption [2]. - A cultural tourism event showcasing the rich history and natural flavors of matsutake will occur in mid-July, while an exhibition and sales event for matsutake cuisine will be held in mid-August [2]. Group 3: Logistics and Transportation - Yunnan Shunfeng Express Co., Ltd. will deploy two cargo planes at Diqing Shangri-La Airport and Kunming Changshui International Airport to establish a "cold chain + high-speed rail + air" transportation model for the matsutake season [3]. - Upgrades to packaging and the addition of cold storage facilities will ensure efficient and stable quality transportation of matsutake mushrooms [3].

Core Viewpoint - The logistics unmanned vehicle market is entering a phase of large-scale commercialization, with significant advancements from companies like Cainiao in product offerings and technology integration [1][6][7]. Group 1: Product Development and Launch - Cainiao has accelerated the launch of logistics unmanned vehicles, introducing the GT-Lite model priced at 16,800 yuan after discounts, with an annual FSD service fee of 20,000 yuan [1][2]. - The GT-Lite model features a reduced range of 100 kilometers but offers larger capacity, higher load, and faster speed compared to higher-end models [1][2]. - Cainiao plans to introduce multiple new functional models and AI algorithm upgrades, including cold chain vehicles and larger capacity models for rural logistics [2][5]. Group 2: Market Potential and Strategic Importance - The logistics unmanned vehicle market is viewed positively, with various companies, including startups, entering the space, and the average price of mainstream models being around 50,000 yuan [5][6]. - Analysts estimate that logistics unmanned vehicles could replace up to 4.44 million traditional commercial vehicles annually, leading to a market size of 207.1 billion yuan [5][6]. - The market for urban last-mile delivery is projected to see significant growth, with expected value increments of 12.8 billion yuan by 2025 and 97.7 billion yuan by 2030 [6]. Group 3: Technological and Policy Support - The logistics industry is witnessing a shift from technology validation to commercial viability, driven by technological advancements, cost reductions, and supportive policies [6][7]. - The Chinese government is actively promoting the development of unmanned logistics vehicles through various initiatives aimed at reducing logistics costs and enhancing supply chain efficiency [6][7]. - Cainiao's CEO highlighted that the integration of unmanned vehicles into logistics processes has reached a stage suitable for large-scale application [6].

｜2025年6月19日星期四｜ NO.1 今年前5月广东对中亚五国进出口同比增长20% 据"广东发布"微信公众号6月18日消息，作为我国经济第一大省、外贸第一大省，广东与中亚经贸往来密切，今年前5个月，广东对中 亚五国进出口126.5亿元，同比增长20%。 点评：这表明广东与中亚五国的经贸合作呈现出良好发展态势，贸易规模不断扩大。 NO.2 香港公布物流业ESG发展路线图 6月18日，香港特区政府运输及物流局公布《物流业ESG发展路线图》，供当地物流中小企业遵循，以达到环境、社会及管治（ESG） 的国际要求。路线图涵盖2025至2027年三年期，分为三个阶段：第一阶段提高物流中小企业对ESG原则和国际ESG要求的认知；第二 阶段加强物流中小企业收集和记录物流ESG数据的能力；第三阶段则旨在协助物流中小企业就编制ESG报告做好准备。 | 深市领跌 | 最新股价 | 跌幅 | | --- | --- | --- | | 广生堂 | 37.55 元 | 12. 69% | | 中科磁业 | 57.50 元 | 12.21% | | 北陆药业 | 9.23 元 | 11.51% | 据"中国广州发布"微信公众号6月1 ...

Core Viewpoint - The Caspian Corridor, also known as the "Trans-Caspian International Transport Route," serves as a vital logistics channel connecting China and Europe, bypassing traditional Russian routes amid the Russia-Ukraine conflict, thus becoming an alternative for Eurasian trade [2][12]. Route and Coverage - Geographic Path: Starts from Xinjiang, China (Kashgar or Horgos) [2]. - Major Nodes: - Kazakhstan: Aktau Port (core hub on the eastern Caspian) [3]. - Caspian Sea: Rail-to-ferry transfer across the Caspian Sea (approximately 3,500 km in total length) [4]. - Azerbaijan: Baku Port (logistics center on the western Caspian) [5]. - Georgia: Tbilisi (Caucasus hub) [6]. - Endpoint: Istanbul, Turkey, or Europe (e.g., Germany, Netherlands) [7]. Multimodal Transport Model - The transport model includes: - Rail from China to Kazakhstan - Ferry across the Caspian Sea - Rail/Road from Azerbaijan/Georgia to Europe [8]. Core Advantages and Strategic Value - Time and Cost Optimization: - Transport time from China to Europe is reduced to 15-20 days, compared to 45 days for traditional sea routes [10]. - Cost per standard container is approximately $2,363, slightly higher than sea freight ($1,940-$2,200), but offers advantages in low carbon emissions, fewer transshipments, and high punctuality [11]. - Geopolitical Advantages: - The corridor provides a stable alternative route amid disruptions caused by the Russia-Ukraine conflict, attracting support from Western and Central Asian countries [12]. - Economic Impact: - Kazakhstan's transit fees exceed $200 million annually, while Kyrgyzstan and Uzbekistan benefit from breaking their landlocked status [13]. - The corridor connects Kazakhstan's oil and gas resources and key minerals from Central Asia, ensuring the security of the European supply chain [14]. - Key Component of China's Belt and Road Initiative: - The corridor is prioritized in China's high-quality Belt and Road construction actions, enhancing the strategic position of Xinjiang [15]. Operational Status and Development Goals - Explosive Growth in Freight Volume: - Freight volume reached 4.1 million tons in the first 11 months of 2024 (up 63% year-on-year), with container volume at 50,500 TEUs (a 2.6-fold increase) [16]. - Freight volume was only 1.5 million tons in 2022, with projections to exceed 4.5 million tons in 2024 (a sixfold increase over five years) [16]. - Infrastructure Upgrades: - Aktau Port in Kazakhstan is set to open in June 2025, with an annual capacity of 240,000 TEUs [16]. - Baku Port expansion will increase capacity to 25 million tons/500,000 TEUs [16]. - Electrification of the Dostyk-Moyynty railway segment in Kazakhstan will increase capacity fivefold [16]. - Long-term Goals: - Targeting freight volume of 10 million tons by 2027 (current capacity is 6 million tons/year) [16]. - Projected container volume of 130,000 TEUs by 2040, according to the European Bank for Reconstruction and Development [16]. Challenges and Bottlenecks - Infrastructure Shortcomings: - Insufficient ferry capacity with only 13 ferries servicing the Baku-Aktau route, leading to mismatched port throughput and rail capacity [16]. - Low efficiency in transshipment, requiring multiple loading and unloading processes, which increases time costs (e.g., 1-2 days for transshipment at Aktau Port) [16]. - Funding Gaps: - An estimated $38.8 billion is needed for upgrades, with a financing gap of approximately $1.8 billion from the private sector [16]. - Geopolitical Tensions: - Russia's implicit resistance due to concerns over losing control in Central Asia [16]. - Great Power Competition: - The U.S. and Europe are promoting "friend-shoring" to dominate critical mineral supply chains [16]. Key Metrics Summary - Total Length: Approximately 4,766 km - Transport Time: 15-20 days from China to Europe - Freight Volume: 4.5 million tons in 2024 (410,000 tons in the first 11 months) - Container Volume: 50,500 TEUs (first 11 months of 2024) - 2027 Target: 10 million tons - Cost: $2,363 per TEU (China to Turkey) [16]. Conclusion - The Caspian Corridor is emerging as a strategic route in the Eurasian trade landscape, characterized by its efficiency, geopolitical risk mitigation, and deep integration with China's Belt and Road Initiative. Despite facing infrastructure and funding challenges, the rapid growth in freight volume and collaborative efforts among countries along the route indicate its potential for continued expansion. If bottlenecks in ferry capacity and transshipment efficiency are addressed, it could rival traditional Eurasian land bridges as a primary artery for trade [16].

Core Viewpoint - The company has announced its 2024 annual profit distribution plan, which includes a cash dividend of 1.00 RMB per 10 shares for shareholders, approved during the annual general meeting held on May 19, 2025 [1][4][5]. Summary by Sections 1. Profit Distribution Plan - The profit distribution plan involves a cash dividend of 1.00 RMB per 10 shares (including tax) for all shareholders registered on the equity registration date [1][6]. - The plan will not include any bonus shares or capital reserve transfers to increase share capital, with any undistributed profits carried forward to the next year [1][6]. 2. Adjustments to Distribution - If the total share capital changes before the distribution due to share buybacks, convertible bond conversions, or new shares from refinancing, the distribution amount will be adjusted based on the latest total share capital while maintaining the distribution ratio [2]. 3. Key Dates - The equity registration date is set for June 24, 2025, and the ex-dividend date is June 25, 2025 [6][7]. 4. Distribution Method - Cash dividends for A-share shareholders will be directly credited to their accounts through their custodial securities companies on the equity registration date [9]. - The company will bear all legal responsibilities if there are insufficient funds for the cash dividend due to a decrease in shares during the distribution application period [10]. 5. Commitment Adjustments - Following the profit distribution, the commitment regarding the minimum selling price for shares held by major shareholders will be adjusted to not lower than 15.28 RMB per share after the lock-up period [11].

Core Insights - Changchun International Land Port has launched its first iron-sea intermodal train service from Changchun to Hebei Port, enhancing logistics coverage towards the Bohai Sea region [1] - The new service, operational since June 17, primarily transports corn and connects seamlessly with maritime transport at Qinhuangdao Port, facilitating access to North China, East China, South China, and global markets [1] - The service features a "one order" logistics solution, significantly simplifying the transportation process and improving overall transport efficiency by over 30% while reducing logistics costs [1] Company Developments - Future cargo transported by the new train service will expand from grains to high-value export categories such as auto parts and industrial products [2] - The company plans to enhance service capabilities and efficiency through optimized space allocation and increased train frequency, aiming to lower international logistics costs [2] - Strategic cooperation with the Bohai Sea port cluster will be deepened to create a more resilient and efficient international supply chain [2] Performance Metrics - In the first five months of this year, the throughput of the Changchun to Bohai Sea direction sea-rail intermodal train service reached 52,580 TEUs [3]