宁夏西部创业实业股份有限公司 投资者关系活动记录表 编号：2025-003 | | 特定对象调研 □ 分析师会议  | | --- | --- | | 投资者关系 | □ 媒体采访 业绩说明会 | | 活动类别 | □ 新闻发布会 □ 路演活动 | | | □ 现场参观□ 其他： | | 参与单位名称 | 太平洋证券交运行业研究员 程志峰 | | 及人员姓名 | | | 时 间 | 2025 年 7 月 10 日 16:00—17:30 | | 地 点 | 公司 3 楼办公室 | | 上市公司 | | | 接待人员 | 吴国廷 董事会秘书 | | 姓 名 | | | | 一、请问公司 24 年业绩情况，营收减少 19%，为 | | | 啥净利润增长 8.5%呢，原因是什么？ | | | 公司 2024 年度实现营业收入 134,532.27 万元，较 | | | 2023 年度降低 19.21%；归属于上市公司股东的净利润 | | | 26,300.77 万元，较 2023 年度增加 8.50%，主要原因 | | 投资者关系 | 是：（一）2024 年度铁路运输业务量同比上升，带动 | | | 毛利增加3 ...

EMO Trans集团首席执行官兼总裁Marco Rohrer EMO Trans集团中国公司EMO Trans China Limited（翼锚中国）执行董事孙祖民 GDP排名位于前40%～50%的国家，占全球贸易市场份额的80%～90%，这成为EMO Trans集团落子的依据。 随着逆全球化浪潮危机显现，地缘政治风险攀升趋势推动供应链重构，国际供应链企业纷纷布局多元化市场，除了深耕成熟市场之外，加快开拓新兴市场 步伐。 起源于德国、拥有60年历史的EMO Trans集团，以稳健的运营风格穿越多个航运周期。过去的发展沉淀了什么？哪些竞争要素能够穿越周期、应对不确定 性？ Marco Rohrer还向中国航务周刊记者深度解读了EMO Trans集团的全球市场布局战略，他分析道："对EMO Trans集团来说，北美洲、亚洲、欧洲仍是核心 战略市场。" 在地缘政治环境日益复杂的当下，作为一家跨国物流集团，开拓新兴市场成为主动应对变化的重要战略。 EMO Trans集团经营60年，以稳健著称，在进军新兴市场时有何选择标准？ Marco Rohrer告诉中国航务周刊记者："GDP排名位于前40%～50%的国家，占全球 ...

"确定性"多点开花，业绩估值各有看点 [Table_Industry] 交通运输 [Table_ReportDate] 2025 年 7 月 7 日 证券研究报告 行业研究 | [Table_ReportType] | | --- | | 行业投资策略 | | [Table_StockAndRank] 交通运输 | | | --- | --- | | 投资评级 | 看好 | | 上次评级 | 看好 | [Table_Author] 匡培钦 交通运输行业首席分析师 执业编号：S1500524070004 邮 箱：kuangpeiqin@cindasc.com 黄安 交通运输行业分析师 执业编号：S1500524110001 邮 箱：huangan@cindasc.com 秦梦鸽 交通运输行业分析师 执业编号：S1500524110002 邮 箱：qinmengge@cindasc.com 陈依晗 交通运输行业助理 邮 箱：chenyihan@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦B 座 邮编：100031 [Ta ...

深圳，这座中国改革开放的前沿阵地，始终是物流产业创新与发展的热土。近日，深耕跨境物流领域的深圳市钱海众鑫供应链管理有限公司（以下简称"钱 海众鑫供应链集团"）迎来一项重要的行业身份认证——公司正式成为深圳航空业协会常务理事单位及国际物流商会副会长单位。这一双重职务的授予，是 行业权威机构对钱海众鑫供应链集团多年来在跨境物流领域卓越实力、专业贡献及行业领导力的高度认可，为其持续引领行业发展奠定了坚实的组织基础。 I Pr 钱海众鑫 d in UNIA f AT . . . . . . . 1 KI LEAT 15:10 and t AR ore P 7 1 1 f 1229 12 Post 18 s and u 60 l, st ct 38 d9 实力铸就认可，奠定行业领军地位 钱海众鑫供应链集团自成立以来，始终将"安全·高效·稳定"作为核心服务理念，致力于成为行业最具影响力的物流服务商。总部位于粤港澳大湾区核心深 圳，毗邻香港，钱海众鑫供应链集团依托得天独厚的地理优势和强大的资源整合能力，构建了覆盖全球200多个国家的综合物流服务网络。此次荣膺深圳航 空业协会常务理事单位及国际物流商会副会长单位，不仅是对其过 ...

Group 1 - The article highlights the ongoing nationwide "Safety Production Month" in June, focusing on enhancing safety awareness and emergency response among railway police and the public [1] - Various railway police departments are actively conducting safety inspections and promotional activities to identify and rectify safety hazards along railway lines [1][2] - Collaboration with local communities and educational institutions is emphasized, with initiatives such as safety classes in schools and distribution of safety materials to residents [2] Group 2 - The railway police are implementing comprehensive inspection strategies, including on-site checks and video surveillance, to create a database of safety issues for systematic management and resolution [3] - Emergency response capabilities are being tested through joint drills with railway units, ensuring preparedness for potential incidents [3] - Technological advancements, such as intelligent monitoring systems, are being utilized to enhance the efficiency of hazard detection along railway lines [3]

自1992年建交以来，包括乌兹别克斯坦在内的中亚国家与中国的关系发生了巨大变化。30多年来，中国 与中亚国家的贸易额增长超200倍。如今，中国已成为中亚五国最重要的贸易和投资伙伴。中国与中亚 五国已实现全面战略伙伴关系全覆盖，中方能够在地区及国际事务中积极发展与地区各国的互动合作。 去年启动的中吉乌铁路建设项目，无疑将助力中亚物流潜力的拓展，该线路将提升跨里海通道的运量， 并成为"中国—中亚—西亚经济走廊"的关键交通动脉，将进一步扩大中国与中亚各国的贸易、投资规 模。去年，中国与中亚国家的贸易额达948亿美元，未来几年将突破1000亿美元。2023年，中国对该地 区的直接投资存量已超过150亿美元，工程承包规模达数百亿美元。中亚国家在交通基础设施建设、工 业化、数字化及气候适应方面的发展规划，意味着从中国进口的设备规模和引入的投资额将持续增长。 这些因素都将推动中国—中亚机制的进一步发展。 总体而言，乌兹别克斯坦及其他中亚国家与中国诸多领域开展互利合作的潜力巨大。与中国伙伴共同推 动双边及区域合作，将有助于推动各国经济现代化及本地区一体化进程。 (作者为乌兹别克斯坦中亚国际研究所所长) 乌兹别克斯坦持续全方位 ...

Group 1 - Iran's airspace will be closed until 2 AM local time on the 16th, as announced by the spokesperson of the Iranian Civil Aviation Organization [1] - The public and passengers are advised to obtain flight information only from local civil aviation authorities [1] - Passenger transport within Iran will be conducted via rail and road during this period [1] Group 2 - There are no issues reported with the transportation of essential goods such as medicines, food, fuel, and other necessities [1]

为摆脱经济停滞，德国将启动总额达5000亿欧元的基础设施投资计划，首要任务是修复老化且问题频出 的铁路系统。 6月13日周五，媒体援引知情人士消息称，德国副总理兼财政部长Lars Klingbeil计划今年向铁路系统注 资高达105亿欧元，约占今年基建总投资220亿欧元的一半，其中国有铁路运营商德国铁路将获得最大份 额。 第一笔钱，花在铁路上 在所有基建项目里，德国政府决定把铁路作为第一优先级。 德国火车经常晚点，已成为欧洲最大经济体基础设施投资不足的典型象征。早在前总理朔尔茨领导的政 府解体之前，德国铁路公司就已经提出530亿欧元的投资需求清单。 图宾根大学公共政策教授Henning Meyer说："关键问题是，'我们能多快把钱花出去？'而德国铁路是最 合适的起点，因为他们已经准备好了详细的投资项目清单。" 德国政府希望通过改善城际通勤体验，可以扭转当前的政治气氛。Henning Meyer提到，政府优先选铁 路，其实也藏着很大的政治算盘： "尽管短期会带来一些不便，但这是普通民众最有可能直接感受到改善的领域。" 不止铁路，还有桥梁、宽带、医院 消息人士称，除了铁路，今年的其他投资还包括30亿欧元用于改善宽 ...

Core Points - The Qinghai-Tibet Railway has significantly impacted local communities, providing job opportunities and transforming logistics in the region [3][4] - The railway is the highest in the world, presenting unique challenges for safety and security, especially with increased tourist activity near the tracks [3][4] - The dedication of the railway protection team is evident through their rapid response to emergencies, such as flood threats, showcasing their commitment to safeguarding the railway and local development [2][3] Group 1 - The Qinghai-Tibet Railway has transported a total of 92.563 million tons of goods since its opening, highlighting its role as a crucial logistics hub [3] - The railway has led to the emergence of various supporting industries, including cargo handling and logistics services, which have absorbed a significant amount of local labor [3] - The protection team operates 24/7, demonstrating their readiness to respond to emergencies and maintain safety along the railway [2] Group 2 - The railway's construction has integrated it into urban areas, complicating the work of the protection team due to increased pedestrian and vehicle traffic [3] - The team has had to enhance patrol efforts to manage safety risks posed by tourists attempting to get close to the railway for photography [3][4] - The commitment of the protection team is symbolized by their salute to passing trains, reflecting their respect for the railway's importance to local development [4]

Core Viewpoint - The company, Beijing-Shanghai High-Speed Railway (601816.SH), is actively boosting market confidence through a share buyback program and consistent dividend payouts, reflecting its strong financial performance and commitment to shareholder returns [1][2][3]. Share Buyback and Capital Structure - On June 2, the company announced the successful repurchase of 181 million shares, with a total expenditure of approximately 999 million yuan, and plans to cancel these shares by June 3, 2025, reducing total share capital from 49.106 billion to 48.926 billion shares [1][2]. - This marks the first share buyback initiative by a company controlled by the China Railway Group, indicating a strategic move to enhance shareholder value [2]. Financial Performance - In Q1 2025, the company reported operating revenue of 10.223 billion yuan, a year-on-year increase of 1.16%, and a net profit of 2.964 billion yuan, up 0.03% from the previous year [1][6]. - For the full year 2024, total operating revenue reached 42.157 billion yuan, a 3.62% increase, with net profit at 12.768 billion yuan, reflecting a 10.59% growth [4][6]. Dividend Policy - The company has maintained a high dividend payout ratio, with 2023 dividends exceeding 5 billion yuan for the first time, amounting to 5.479 billion yuan, representing 47.46% of net profit [3][6]. - For 2024, the planned cash dividend is 5.783 billion yuan, accounting for 45.29% of net profit, leading to a total dividend payout of 11.262 billion yuan over two years [3][6]. Operational Efficiency - The company has seen a continuous decline in its debt-to-asset ratio, dropping from 30.70% at the end of 2020 to 20.72% by Q1 2025, indicating improved financial health [6]. - The company’s total assets reached 286.8 billion yuan by Q1 2025, with fixed assets constituting 74% of this total [6]. Cash Flow Management - The company has consistently generated positive cash flow from operating activities since its listing, with net cash flow of 21.08 billion yuan in 2023 and 20.07 billion yuan in 2024, and a 6.27% increase to 4.816 billion yuan in Q1 2025 [7].