欢迎各位投资人来参加我们由安信国际和录影中共同举办的船事公司录影大会2024年中期策略会呃呃今天呢今天上午呢我们非常荣幸邀请到了为时佳节的管理层ard Elsa来给大家请大家去做公为时佳节的这个公司分享和呃这个问题解答那我们首先就请Elsa来给大家介绍一下公司的最新的情况那之后我们再进入Q&A环节那Elsa - 谢谢Alex大家好我是Elsa我来先介绍一下公司吧我是娇姐是亚太区领先的科技产品渠道开发以及那个技术方案集成服务商也是科技产品进入中国和东南亚市场的主要通道公司在1991年成立了然后就是员工超过4400多人 交通网络是遍布九个国家包括中国、马来西亚、泰国、菲律宾、缅甸、柬埔寨、老挝等等这九个国家然后亚太区的话我们总共有87个分支机构然后是有5万多个渠道合作伙伴公司在2002年在香港主板上市也是深港通跟滬港通的商标地 这里可以看见我们公司的营业额从2002年上市以来一直都是很稳健的在增长网红公司在2007年就收购了新加坡上市的佳洁科技在那个时候我们也进入了东南亚市场 然后公司在02年的时候我们年收入才16亿港币去年的时候我们营业额已经达到739亿可以看见我们公司无论在不同的经济周期包括金融海啸或者疫情我 ...

那么我们今天非常有幸能够邀请到公司的CFO贺总以及董秘豆总来为大家去做这样的一个公司的录影分享那这次的录影呢分为公司的介绍环节和Q&A环节那首先就请公司的CFO贺总来给大家做一个基本的公司背景介绍以及这个最新的公司更新动态那我们之后再进入Q&A环节吧那贺总那我现在把麦克风交给您 好的谢谢谢谢各位感谢安信国际的邀请也感谢这个线上的投资人朋友们这边是一点云公司的CFO荷亮先介绍一下自己吧这个我是2018年进入公司以后一直在这个公司 相当于早期阶段到现在上市之后,然后一直在公司工作,然后从最早负责金融机构债权融资,到主动负责整个机构合作,再到今年一月初接任我们整个公司CFO的岗位,所以也是看着公司从小到大一点点发展起来。 朋友们不多说我们先进入我们这个公司概况部分的介绍一点人是中国最大的办公IT订阅式服务商我们面对的这个市场是 中国企业办公室内IT业务的一个市场然后这个市场可以区分为办公室内IT的硬件办公室内IT的服务和办公室内IT的软件办公室内IT硬件就是大家平时办公所使用的PC设备打印机以及投影仪等等的这些通电的设备办公室内的服务呢指的是我们企业办公室内的这些IT网管人员等等所提供的用来支持企业主营业务的IT服 ...

Summary of Conference Call Transcript Company or Industry Involved - The discussion pertains to a specific company, focusing on its operational profit adjustments and financial performance. Core Points and Arguments - The company reported an adjusted operating profit, which excludes impacts from commercial and intangible assets [1] - A special dividend was declared, and the effects of dividend taxes were also considered in the adjustments [1] - Non-operational items were removed from the financial analysis to provide a clearer picture of the company's performance [1] Other Important but Possibly Overlooked Content - The adjustments made aim to enhance the understanding of the company's core operational efficiency by eliminating the noise from non-operational factors [1]

其实我们也是很多全球科技 那个厂商的重要的合作伙伴 我们其实是西捷全球最大的合作伙伴跟西部洲区也是全球最大的合作伙伴也是惠普跟联想州区域最大的合作伙伴 华为是他们海外市场最大的合作伙伴阿里云是最大的渠道合作伙伴也是英伟达在东南亚地区最佳的分销商王后也是新面刚进入亚太区的时候我们也是第一个跟他们签合作的我们现在在马来西亚跟印尼帮他们分享新面的产品 旁边可以看见我们投石大的厂商其实可以看见我们跟这些厂商其实都有很长期的合作了大部分都是超过十年二十年的一个合作我们在这些九个国家其实在东南亚地区我们都是排名第一了往后就是中国我们是排名第二所以不用质疑其实我们是 这个地区里头是IP分项的龙头下一个部分是设置的商业模式我们是科技平台连接上下游的我们从厂家拿科技产品往后进去分散到我们下游的渠道包括我们下游渠道是包括那些软件的开发商 我们就是在科技厂商的合作是一个每一个企业都给他们提供支持我们提供的支持包括就是帮他们引入新品 就是下游提供一些培训服务也为厂商降低成本提供风控管理市场扩展下让跟价格的一些预测我们也帮一些成熟的大厂或者一些经常的客户提升用户黏性 也为初创的小厂提供区域的覆盖取得了便利为他们提高营销的效率还有就是降 ...

首先有请曹总各位下午好我是曹雪玉我是普林承商的投资者关系那么非常感谢今天下午大家有时间来我们一起交流一下我们普林承商的一个情况我今天的介绍是以我们公司2023年的年度业绩报告作为一个框架那么通过这样一个框架我们希望可以为各位介绍一下我们公司 我们的产品我们的市场以及我们的这个一些的这个这个不同的产品结构那我接下来就是首先介绍一下我们公司的概况 普利城山是一家拥有高增长网级的成熟轮胎制造商我们在山东和泰国有两大生产基地有三个产品品类主要是全钢胎半钢胎和斜焦胎那我们的产品是通过四个品牌销往全球市场首先是城山轮胎那么城山轮胎是我们最早的一个品牌那么它在卡克车司机这个领域有非常良好的口碑 那么我们为了在海外市场以及其他的一些细分市场推出我们的产品我们的奥通和复神就是这样的品是这样是通过奥通和复神这两个品牌来销往全球市场普林是我们新培育的一个品牌它主要侧重于一个高端的市场 在2023年的中国橡胶工业百强企业轮胎类的排名中我们以2022年的营业收入我们当时是位列中国轮胎的第八位那么我们根据2023年的营业收入我们目测应该我们是属于第五第六位是这样的一个体量 那普林城山的发展有它的这样一个历程那么它最早是在1976年在山东 ...

Summary of Conference Call Company Overview - The company discussed is Kanan, which specializes in the production of uniforms and commercial driving services [1] Key Points and Arguments - The senior director of the company, Mr. Yang, was invited to provide insights into the recent developments of the company [1] Other Important Content - The introduction highlighted the company's focus on its core business areas, indicating a strategic emphasis on uniforms and driving services [1]

Summary of Conference Call Records Industry Overview - **Global Economic Outlook**: The global macroeconomic outlook for 2024 is optimistic, with expectations of entering a pro-cyclical trading phase, where both domestic and external demand are likely to improve [1][2] - **China's Economic Environment**: The state of the economy in China is characterized as "tight yet loose," with a cautious attitude from the Federal Reserve regarding interest rate cuts, while the pace of balance sheet reduction is slowing. The M2 money supply in the U.S. has turned positive year-on-year since April [1][2] Key Points on Specific Markets Stock Market - **Market Sentiment**: There is a cautious optimism towards risk assets, with a return of re-inflation trading. Valuations may be supported by improved earnings expectations, particularly in the Chinese stock market due to liquidity improvements, policy support, and re-inflation cycle sectors [1][2] Bond Market - **Interest Rate Outlook**: A neutral stance is taken on overseas interest rate bonds, particularly U.S. Treasuries, which are expected to maintain high volatility [1][3] Commodity Market - **Commodity Prices**: A bullish outlook on commodity prices is maintained due to tight supply and rising global economic sentiment, with a continued positive view since Q4 of the previous year [1][3] Real Estate Market - **China's Real Estate**: The real estate market in China is expected to continue receiving policy support, with local governments likely to introduce more measures to reduce inventory and leverage. However, the probability of a rapid turnaround remains low. Investment preferences are shifting towards state-owned enterprises and leading private enterprises, although private firms may lag due to debt restructuring impacts [1][3] - **Hong Kong Real Estate**: Retail rents are expected to stabilize and moderately recover, supported by the reopening of personal travel and an increase in tourists. The office market faces significant pressure with high vacancy rates, while the residential market is expected to perform well, particularly in the primary market [1][3] Data Center Industry - **Growth Prospects**: The data center industry is viewed positively, with strong growth drivers, especially in data generation and AI cloud services. Investment scales are steadily increasing, and current valuations are considered low, with high long-term return expectations [1][3] Financial Sector Insights - **High Dividend Strategy**: The environment supporting high dividend strategies remains unchanged, with a focus on the insurance sector and a recommendation to increase flexible allocations [4][5] - **Banking Sector**: The banking sector's profitability is expected to remain stable, while the insurance sector is projected to see a year-on-year profit increase of over 10% in 2024 [6] - **Securities Sector**: The securities industry is facing profit pressure, with overall profitability expected to decline due to high base effects from previous years [7] Consumer Market Outlook - **Consumer Confidence**: A cautiously optimistic view is held for the consumer market in the second half of the year, with signs of recovery in discretionary spending categories such as home appliances and building materials [8] - **Segment Performance**: There is a polarization in consumer goods, with high-end products performing well while basic products see weak demand. The outlook for optional consumer goods remains attractive [8] Internet Industry Trends - **Subsector Performance**: The online travel agency (OTA), gaming, and social services sectors have shown strong stock performance, supported by solid earnings and shareholder returns [9] - **Key Indicators**: Focus on performance certainty in the internet sector, with particular attention to revenue growth from key business areas [9][10] Automotive Industry Insights - **Sales Projections**: The automotive industry is expected to see a 2% increase in sales, with new energy vehicles projected to reach nearly 10 million units sold, a 30% year-on-year increase [14] - **Export Performance**: In the first four months of the year, China's total vehicle exports reached 1.87 million units, a 26% increase year-on-year, with a significant portion being passenger vehicles [14] Renewable Energy Sector - **Market Outlook**: The renewable energy sector, particularly in operators and the photovoltaic inverter segment, is expected to perform well, benefiting from government policies and increasing installation speeds [16][17] Conclusion The overall sentiment across various sectors indicates a cautiously optimistic outlook for 2024, with specific attention to the recovery in consumer spending, the performance of the data center industry, and the resilience of the financial sector amidst changing economic conditions.

Summary of the Conference Call for China Youzan Company Overview - **Company**: China Youzan - **Industry**: E-commerce and SaaS (Software as a Service) for merchants Key Points and Arguments 1. **Business Model**: China Youzan primarily provides SaaS solutions to merchants for e-commerce operations, particularly within the WeChat ecosystem, enabling merchants to set up online stores and manage sales effectively [3][4][5]. 2. **Financial Reporting Changes**: Starting from 2023, the company will no longer issue quarterly reports but will focus on semi-annual and annual reports, with the next report expected in August 2024 [2]. 3. **2023 Performance**: The company reported a GMV (Gross Merchandise Volume) of 102.5 billion yuan for 2023, reflecting an increase of 11 billion yuan year-on-year [8][47]. 4. **Profitability**: In 2023, China Youzan achieved an adjusted profit of 35.52 million yuan, marking a significant turnaround from previous losses [10][15]. 5. **Cash Flow**: The company reported a net cash inflow from operating activities of approximately 77 million yuan, with a cash balance of 930 million yuan at the end of 2023 [16][10]. 6. **Customer Base**: The focus is on upgrading the merchant structure to serve more medium to large-sized merchants, with the average sales per merchant increasing by 33% year-on-year [9][50]. 7. **Sales Efficiency**: The company reported a 35% increase in per capita productivity, indicating improved operational efficiency [10]. 8. **Market Strategy**: China Youzan aims to enhance its service offerings by integrating AI technologies into its consumer operation systems, targeting better customer retention and sales conversion [34][58]. Additional Important Insights 1. **Target Merchant Segments**: The company categorizes its target merchants into three groups: content monetization merchants, brand DTC (Direct to Consumer) merchants, and new retail merchants with physical stores [19][32]. 2. **CRM Development**: China Youzan has invested in developing a robust CRM (Customer Relationship Management) system to help merchants understand and engage with their customers better, which is crucial in the current economy focused on customer retention [27][29]. 3. **SaaS Product Growth**: The company’s SaaS products for both e-commerce and retail have shown significant growth, with the retail SaaS GMV increasing by 19% year-on-year [49]. 4. **Long-term Goals**: For 2024, the company aims to double its adjusted profit target to 70 million yuan and maintain positive operating cash flow [17][58]. 5. **Customer Retention**: The retention rate for larger merchants is significantly higher (84%) compared to smaller merchants, indicating a strategic focus on retaining and growing relationships with larger clients [60][61]. This summary encapsulates the key insights from the conference call, highlighting the company's strategic direction, financial performance, and market positioning within the e-commerce industry.

金额来看的话15%到20%左右所以这个竣工面积的影响就是不太大我们还是拓展非住宅为主要业态的然后同时对于住宅我们也加大对于存量住宅的一些这种拓展所以对于新交付的新竣工的这些面积的影响相对比较小这个竣工的话主要就是说关联跟我们关联都比较大的 还是来自于就是保利发展这一边的新交付那其实也可以从他们的这个过往的这个几年的销售就是去推测这个交付的一个高峰那从我们今年来看的话呢其实这个交付面积我们觉得就是还是相对来讲它肯定是会有一些下滑但这个幅度应该说就是相比起同行就绝对只有幅度吧 相比起同行还是有一些相对的优势同时我们也看到保利发展新交付的项目他们的单价是在持续的上升的主要是跟保利发展他们更加聚焦一些高能级的城市有关 所以这个单价的提升呢也会对冲掉一部分就是面积的这种下滑比如说我举的例子就是我们去年二三年新交付的来自于保利发展这个单价呢平均大概是两块七毛左右但是我们所有的在管这些保利发展的这项目呢其实均价是两块四毛 也就是说新交付的比起以往平均的是会高出不少然后这个单价应该也在持续的上升这个跟他们拿地的这个区位是息息相关的比如说二三年他就是拿了很多的比如说位于上海的在上海地区的话应该就是比如说5块钱的物管单价新房是比 ...

参加本次会议会议即将开始请稍后 大家好欢迎参加中泰汽车个股提示系列24领跑汽车欧洲关税政策落地看好下半年出海基本面目前所有参会者均处于新状态下面开始播报免责声明声明播报完毕后主讲老师可直接发言本次电话会议服务于中泰证券正式签约客户为非公开 本会议信息仅供参考不代表任何投资建议本公司不对任何人因使用本会议中的信息所引致的任何损失负担任何责任 好的 各位领导早上好我是中泰汽车首席何俊逸然后今天我和我的同事张嘉明然后跟大家讲在当下位置的重点提示一下民跑汽车提示的逻辑的话 首先从贝塔为主去看贝塔的话 我们的观点是看好6月份的汽车的景气的贝塔的拐点也就是说看好汽车的周度伤险数据从大家跟踪的这个 三十多万三十六七万的中枢然后修复到四十万这个中枢就是说汽车从年度为度大行业是没有Beta可言的因为这个行业的增速就是在正负三或者说小幅度波动这样一个区间就是说大家其实去看同盘比例数据是没有太强的这个总盘的同盘比例是没有太强的意义的 但是呢因为这两年的一些这种疫情或者说是新品上市的节奏价格战的观望然后政策的观望然后使得这种板块出现这种月度和季度之间的需求的腾挪然后带来的这种大家觉得比如说今年可能一到五月份大家觉得需求特别差然后但是 ...