我们想先请公司简单的介绍一下二四财年的业绩情况李姐谢谢 谢谢这项帮我们组织这次投资人的会议我先简单花15分钟跟大家分享一下我们二四财年的一些情况在全年实现的收入在70.2亿港币同比下跌10亿% 那其中下半年的收入是34.7亿和上半年相当同比去年的下半年我们有一个6.3%的一个修复性的增长在毛利率方面我们去年全年的毛利率为22.6%那同比去年减少1.5个百分点在利润方面全年实现利润1.43亿同比下滑是63%利润率2% 折旧息税前的利润大概10个亿港元同比下滑23%EBITDA的比率是14.4%其中24财年下半年我们受到一些规模效应不佳重组成本跟财务费用的一些不利的影响利润承受了比较大的一些压力 那如果我们把公领股偿等这些重组费用把它剔除掉我们调整后这个净利润跟EBITDA分别是3.2跟12亿港币占收入的比重分别是4.5%及17%同比整个下滑的幅度均有比较大的一个收窄那我们从品类上面看 我们受到二三财年集团上半年高基数的一个影响我们二四财年整个品类均出现了不同程度的收入下滑但核心业务板块贴身内衣跟运动产品下滑的幅度为中单位数低于集团的整体幅度在下半年贴身内衣的下滑幅度已经收窄到低单位数 运动产品在二次财年下半年则 ...

感谢大家参加本次电话会议会议即将开始请稍后 感谢大家参加本次电话会议会议即将开始请稍后 感谢大家参加本次电话会议会议即将开始请稍后本次电话会议仅服务于国泰居安证券正式签约客户会议音频及文字记录的内容仅供国泰居安证券客户内部学习使用不得外发 并且必须经国泰居安证券研究所审核后方可留存国泰居安证券未授权任何媒体转发此次电话会议相关内容未经允许和授权转载转发均属侵权国泰居安证券将保留追究其法律责任的权利国泰居安证券不承担因转载转发引起的任何损失及责任 市场有风险投资需谨慎提请广大投资者谨慎做出投资决策大家好欢迎参加国泰军安政权老婆黄金古法金开创移民者打倒世界一流珠宝品牌目前所有参会者均处于精英状态下面有请主持人讲话谢谢 好的各位投资人下午好我是国军社民受团队的苏颖然后非常欢迎大家今天下午参加我们老普黄金公司逻辑书里的这样一个电话会那我们也非常高兴的看到老普其实这个港股的IPO已经通过聆讯 马上要在明天这个港股市场就作为一个IPO的这个上市那最近的话其实市场关注度也非常高那老布黄金的话其实是作为这个黄金珠宝行业里面之地非常优秀的一家公司 那一年前的话我们从产业链包括关注到这个经销赚这个品类的终端非常优秀的这个反馈表现 ...

Company and Industry Overview * **Company**: Zhongyuan Hong Kong, a publicly listed company under China Tobacco, focusing on tobacco products and international expansion. * **Industry**: Tobacco industry, with a significant global market share held by China Tobacco. * **Key Points**: * Zhongyuan Hong Kong was listed on the Hong Kong Stock Exchange in June 2019 and is the only publicly listed tobacco company under China Tobacco. * The company operates in three main segments: raw tobacco, cigarettes, and new tobacco products, with a focus on international markets. * Zhongyuan Hong Kong aims to expand its international market presence and establish a strong position in the global tobacco industry. Business Segments and Performance * **Raw Tobacco**: * Imports: Exclusively operates in non-sanctioned regions globally, with a focus on countries like Brazil, Argentina, and the United States. * Exports: Mainly operates in Southeast Asia, Hong Kong, Macau, and Taiwan, as well as Europe. * Performance: Imports increased by 27% in 2023, with revenue growing by 49% and gross profit increasing by 18%. * Challenges: Global supply shortages and fluctuating prices due to weather conditions and climate change. * **Cigarettes**: * Exports: Initially focused on two countries and three regions (Thailand, Singapore, Hong Kong, Macau, and China's domestic duty-free stores). * Performance: Revenue and gross profit increased significantly in 2023, driven by strong sales in the first half of the year and improved product pricing and increased自营比例. * Future Outlook: Continued growth expected due to the recovery of passenger traffic and increased product pricing and自营比例. * **New Tobacco Products**: * Exports: Exclusively operates in regions outside of China, with a focus on heat-not-burn products. * Performance: Revenue and gross profit increased in 2023, driven by strong demand and improved product pricing. * Future Outlook: Expected to continue growing due to increased investment and market expansion. Financial Performance and Dividends * **Revenue**: Increased by 42% in 2023, reaching over 10 billion yuan. * **Gross Profit**: Increased by 42% in 2023, reaching over 3.6 billion yuan. * **Dividends**: Increased the dividend per share by 60% to 0.32 yuan, with an additional interim dividend to be paid in 2024. Future Outlook and Strategy * **Business Growth**: Expected to continue growing in the coming years, driven by the recovery of passenger traffic, increased product pricing, and expanded market presence. * **International Expansion**: Continues to focus on expanding its international market presence and establishing a strong position in the global tobacco industry. * **Investment**: Continues to look for opportunities to acquire assets in the tobacco industry, both within and outside of China Tobacco. * **Dividends**: Expected to continue increasing dividends to provide investors with a stable and growing income stream.

Summary of the Conference Call Company and Industry Involved - The conference call is related to **Zulong Entertainment**, a company in the **media and entertainment industry**. Core Points and Arguments - The call began with a **disclaimer** stating that the meeting is intended for **Debon Securities Research clients** and does not constitute investment advice, emphasizing that participants should make their own investment decisions and bear the associated risks [1]. Other Important but Possibly Overlooked Content - The call was initiated with all participants on **mute**, indicating a structured approach to the meeting [1].

它的利率上升基本上是1.2%了它的近期差比起2023年都稍微有所下降 我们也会继续保持我们现有的一些计划除了在BC Invest这方面治理发展业务之外也会在降低负债以及利息成本方面继续采取一些的缩失2023年5月已经偿还的债务是10亿 那这个是其中的一个我们偿还的债券今年月份的时候我们也偿还了另外一个债券大概是28亿港元我们在企德发展项目当中的办公室部分呢三月份也完成了出售 那这个里面是它的总额是达到33.8亿那因为我们是从政府手中购买这块地然后把它建成了办公室然后出售了那么今年三月底完成了这个交易从而的话呢我们这样的话呢有手头有了现金可以用这现金来减少债务所以因为这个现金所以就减少了很多的债务 那么同时呢我们在墨尔本还有这个Westside Place这三座第四座确认的收入大约是有35亿港元这一笔收入的话也能够帮助我们去减少杠杆偿还债务那在这个也是 就是这也是在我们的去年上一个财政年度完成的在澳大利亚呢我们已经偿还了很多的债务了因为我们在澳洲会有很多的一些资产那还有一些非核心资产我们也会继续出售从今年开始啊那我们已经卖出了这个这个是在黄金海岸的一个项目我们还有一个停车场的资产也出售了是在新西兰的那现在是在K ...

各位投资人早上好我是天风清访教育团队的子君欢迎大家参加我们今天 长沙特别会思考的教育的小组会最近也是临近上半年逐渐结束马上暑期的培训包括暑假的一些相关的活动也会逐渐的开展我们也是看到公司作为华南的领先教培品牌一直也都有比较好的需求的增长包括扩张这块也在稳步的进行中所以近期我们也是再次请到苏总来为大家做一个 首先我就先把时间交给苏总请苏总再为我们简单的更新一下情况然后后续我们会再开放问答环节欢迎大家提问苏总好的好的大家早上好我是西瓜大集团的CFO苏伟腾 非常感谢大家今天参加这个教育会也感谢天峰把我们组织一个很好的一个跟大家有活动的一个教育的机会首先我跟大家简单介绍一下我们公司的一些最新情况吧第一就是我们公司今年有35家的经销区可以在深圳成立就是开业了 我们去年年底在深圳里面有110家学校今年暑假已经增加到145家所以现在我们基本上所有的一些区里面都可以找到我们的分校包括一些较偏的一些专卖地区包括一些新区等等基本上我们可以说是全覆盖第一 第二就是我们今年也会开始收费有些提高的情况因为我们目前的收费基本上是跟二一年是一样的就是二一年包括二二年二三年二四年三八年基本上也是没有改变的今年暑假开始我们的黑酒包括高中我们的 ...

声明本次电话会议仅服务于德邦证券研究所客户不构成投资建议相关人员应自主作出投资决策并自行承担投资风险德邦证券不对因使用本次内容所导致的任何损失承担任何责任 未经德邦证券事先书面许可任何机构或个人不得以任何形式复制刊载转载转发引用本次会议内容否则由此造成的一切后果及法律责任由该机构或个人承担本公司保留追究其法律责任的权利市场有风险投资需谨慎各位投资者大家下午好我是那个德邦证券传媒互联网海外的手机分析师马笑 那我们线上的策略会在那个特别荣幸邀请到赤子城的两位领导做一个这个分享我们就把时间交给那个公司领导首先就是做一个这个公司的介绍分享然后后面我们有一个这个互动交流的一个环节那把时间交给公司领导有请好的好的非常感谢德光证券帮我们安排这个交流的活动然后首先我让同事先给大家介绍一下公司以及最新的一些亮点和进展 好的首先我来介绍一下我们公司的一个基本情况我们公司是一家全球的社交娱乐公司然后我们从已经有十几年的一个出海经验然后我们公司的主要两大块业务第一块是社交业务然后社交业务其中分为泛人群社交和多人群社交然后泛人群社交的话主要是我们是有四款请问 各位领导现在可以看到PPT吗这个共享是不是没有共享我看现在这个屏幕上没有PP ...

Company and Industry Overview * **Company**: Timesmile Angel, a leading orthodontic company specializing in invisible braces. * **Industry**: Orthodontic market, particularly the invisible braces segment. * **Market Size**: Global market for invisible braces is estimated to be 4-5 million cases, with a significant potential for growth in China. * **Growth Rate**: The Chinese orthodontic market is expected to grow at a rate of over 10% annually, with potential for higher growth in lower-tier cities. Key Points **1. Market Dynamics**: * **Domestic Market**: The domestic market for invisible braces is still in the early stages of growth, with a current penetration rate of around 13%. However, there is significant potential for growth, especially in lower-tier cities. * **International Market**: The international market for invisible braces is larger than the domestic market, with a significant opportunity for Timesmile Angel to capture market share. * **Competition**: The Chinese orthodontic market is characterized by a duopoly, with Timesmile Angel and Ortho-Tain holding significant market share. However, there is increasing competition from domestic brands. **2. Timesmile Angel's Strengths**: * **Product Portfolio**: Timesmile Angel offers a diverse range of products, including classic, champion, children's, and comfort versions, catering to different customer needs and price points. * **Product Quality**: Timesmile Angel's products are well-received in the market, with a strong focus on quality and comfort. * **Sales Channels**: Timesmile Angel has a robust sales network, including direct sales and distribution channels, enabling the company to expand its market reach. * **Brand Awareness**: Timesmile Angel has established a strong brand presence in the market, with a strong focus on marketing and brand building. **3. Future Outlook**: * **International Expansion**: Timesmile Angel is actively expanding its international market, with a focus on Europe, the United States, and other regions. The company aims to capture a significant market share in the international market. * **Domestic Market**: Timesmile Angel is focusing on expanding its market share in the domestic market, particularly in lower-tier cities, through its comfort and children's product lines. * **Valuation**: Timesmile Angel is currently valued at a premium, but the company's strong growth prospects and market position justify the valuation. **4. Key Risks**: * **Competition**: Increasing competition from domestic and international brands could impact Timesmile Angel's market share. * **Regulatory Changes**: Changes in regulations could impact the orthodontic industry. * **Economic Factors**: Economic downturns could impact consumer spending on orthodontic treatments. Conclusion Timesmile Angel is a leading orthodontic company with a strong market position and significant growth potential. The company's focus on product quality, sales channels, and brand building, combined with its international expansion plans, positions it well for future growth. However, the company faces challenges from increasing competition and economic factors that could impact its performance.

大家好欢迎参加德邦马校传媒互联网海外中期线上策略会中暑游目前自我参会者均处于静音状态现在开始直播报免责声明免责声明本次电话会议仅服务于德邦证券研究所客户不构成投资建议相关人员应自主作出投资决策并自行承担投资风险 德邦证券不对因使用本次内容所导致的任何损失承担任何责任未经德邦证券事先书面许可任何机构或个人不得以任何形式复制刊载转载转发引用本次会议内容否则由此造成的一切后果及法律责任由该机构或个人承担本公司保留追究其法律责任的权利市场有风险投资需谨慎 各位投资者大家下午好我是德邦证券全面互联网海外的首席马校我们中期策略会主要是线上的一个交流然后比较荣幸邀请到中手游的领导给大家做一个分享我们这次会议分为两个环节第一部分是公司领导做一个公司的介绍第二部分的话我们互动交流一下我就把时间交给沈总 沈总您看是您自己共享这个PPT还是我来共享我共享的话我可能能听到吧马老师可以好等一下我看一下我我来共享吧好的那我翻一个比较方便麻烦大家稍等一下 陈总你这边好共享吗如果不好共享的话我来共享我把这个控制权交给你就行了喂可以听到吗老师可以现在看不到屏幕现在可以了喂喂现在可以了好好大家可以看到屏幕 喂,能看到屏幕吗? 你怎么听不到可以的 ...

Company Overview * **Industry**: Vaccine * **Company**: Aimei Vaccine * **Market Position**: Aimei Vaccine is a leading vaccine company in China with a strong technical platform and full industrial chain. It holds four vaccine production licenses and has five products approved for market sales. * **Key Points**: * Aimei Vaccine has a mature technology platform with five platforms, and is one of the two companies in China approved to establish P3-level human vaccine enterprises. * The company's product pipeline covers the top ten global blockbuster vaccines, with eight commercial products and 21 in development. * Aimei Vaccine has four vaccine production bases across China, with a total of 3+7 research teams and seven production lines. * The company has a strong research and development team, with 39 invention patents and numerous utility model patents. Product Pipeline * **Key Products**: * **Pneumococcal Conjugate Vaccine**: Aimei Vaccine is focusing on the development of pneumococcal conjugate vaccines, including 13-valent, 20-valent, and 24-valent products. * **Meningococcal Conjugate Vaccine**: Aimei Vaccine is developing a new-generation meningococcal conjugate vaccine, as well as a global innovative vaccine product for GBS. * **Influenza Vaccine**: Aimei Vaccine is developing a novel MDCK cell influenza vaccine with a short production cycle and high efficacy. * **Rabies Vaccine**: Aimei Vaccine is developing a novel rabies vaccine with a single or two-dose regimen, as well as a global innovative rabies vaccine. * **Herpes Zoster Vaccine**: Aimei Vaccine is developing a herpes zoster vaccine using the MR technology platform, which has shown excellent cell-mediated immune effects. * **RSV Vaccine**: Aimei Vaccine is developing an RSV vaccine using the MR technology platform, which has shown good cross-protection effects against multiple strains. * **Hand, Foot, and Mouth Disease Vaccine**: Aimei Vaccine is developing a bivalent vaccine that covers both the 71st serotype and the A16 serotype, which is a global innovative vaccine product. * **Development Progress**: * Aimei Vaccine has submitted the registration application for 13-valent pneumococcal conjugate vaccine and 20-valent pneumococcal conjugate vaccine. * The clinical application materials for 23-valent pneumococcal conjugate vaccine and inactivated rabies vaccine have been submitted. * The clinical application materials for herpes zoster vaccine and RSV vaccine have been submitted. * The bivalent hand, foot, and mouth disease vaccine has obtained a clinical approval. Financial Performance * **Revenue**: Aimei Vaccine's revenue is mainly derived from its existing products, including rabies vaccine and hepatitis B vaccine. * **Research and Development**: Aimei Vaccine has a strong focus on research and development, with research and development expenses accounting for 53.6% of its sales revenue. * **Profitability**: Aimei Vaccine aims to achieve profitability in 2024, depending on the control of research and development expenses. Future Outlook * **Internationalization**: Aimei Vaccine is actively promoting the internationalization of its products, focusing on developing countries. * **Innovation**: Aimei Vaccine will continue to invest in research and development, focusing on innovative vaccine products and the MRN technology platform. * **Growth**: Aimei Vaccine aims to achieve a second growth curve in the next 3-5 years, driven by the launch of new products and the expansion of its market share.