厦门象屿股份有限公司 2025 年第三季度报告 证券代码：600057 证券简称：厦门象屿 厦门象屿股份有限公司 2025 年第三季度报告 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： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 注："本报告期"指本季度初至本季度末 3 个月期间，下同。 说明：上表中年初至报告期末归属于上市公司股东的净利润包含报告期归属于永续债持有人的利 息 3.69 亿元，扣除后年初至报告期归属于上市公司股东的净利润为 12.64 亿元，计算基本每股 收益、稀释每股收益、加权平均净资产收益率等上述主要财务指标时均扣除了永续债及利息。 （二） 非经常性损益项目和金额 一、主要财务数据 （一） 主要会计数据和财务指标 单位：万元 币种：人民币 ...

厦门象屿公告，第三季度营收为1129.16亿元，同比增长19.85%；净利润为6.01亿元，同比增长 443.17%。前三季度营收为3168.65亿元，同比增长6.44%；净利润为16.33亿元，同比增长83.57%。 ...

Core Insights - The logistics sector experienced a 1.0% increase on October 27, with Xiamen Xiangyu leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Stock Performance - Xiamen Xiangyu (600057) closed at 7.77, up 3.74% with a trading volume of 327,600 shares and a turnover of 252 million yuan [1] - Other notable performers include: - Ruimaotong (600180) at 4.87, up 2.96% [1] - Shentong Express (002468) at 15.97, up 2.57% [1] - ST Haichin (600753) at 7.40, up 2.49% [1] - Debon Logistics (603056) at 15.56, up 1.97% [1] - SF Holding (002352) at 40.58, up 1.76% with a turnover of 1.489 billion yuan [1] Fund Flow Analysis - The logistics sector saw a net inflow of 158 million yuan from institutional investors, while retail investors experienced a net outflow of 64.2 million yuan [2] - Key stocks with significant fund flows include: - Wuchan Zhongda (600704) with a net inflow of 86.62 million yuan from institutional investors [3] - SF Holding (002352) with a net inflow of 66.92 million yuan from institutional investors [3] - Shentong Express (002468) with a net inflow of 61.20 million yuan from institutional investors [3]

Core Viewpoint - Xiamen Xiangyu has transformed from early exploration of "commodity trade linkage" to participating in "industrial chain operations," establishing itself as a leading enterprise in the domestic bulk commodity supply chain sector, showcasing a successful model of state-owned enterprise reform [1] Group 1: Strategic Development - The company aims to create industrial value through circulation in the restructured global supply chain, emphasizing cooperation and value co-creation with various stakeholders [1][3] - Xiamen Xiangyu's international strategy focuses on "supply chain leadership, logistics support, and investment drive," targeting resource-rich but infrastructure-poor regions [3][5] - The company has established a comprehensive logistics system in Africa and Southeast Asia, enhancing its international presence and operational capabilities [1][5] Group 2: Financial Performance - In the first half of 2025, Xiamen Xiangyu reported a net profit of 1.032 billion yuan, a year-on-year increase of 32.48%, marking a new high in growth rate [8] - The logistics revenue from the aluminum industry increased by over 400% following the establishment of a logistics channel from West African mineral sources to domestic sales areas [5][8] Group 3: Innovation and Digitalization - The company has shifted from merely providing services to participating in operations, integrating deeply into various stages of the industrial chain [9] - Xiamen Xiangyu has implemented a digital supply chain service platform, helping clients secure approximately 9.8 billion yuan in financing and reducing financing costs by 10% to 40% [12] - The introduction of AI technologies has significantly improved operational efficiency, with the development of an AI assistant for various business processes [12] Group 4: Talent and Human Resources - The company plans to grant approximately 170 million shares of restricted stock to 928 core personnel, marking a new high in incentive scale [13] - Xiamen Xiangyu emphasizes a talent strategy focused on capability rather than academic or seniority criteria, aiming to cultivate talent that aligns with the company's growth [13] Group 5: Future Outlook - The company is set to prioritize Southeast Asia and Africa for future development, with plans to gradually expand into Central Asia, South Asia, and the Americas [7] - Xiamen Xiangyu's mission is to become a global leader in supply chain services driving industrial chain operations, with a focus on sustainability and contributing to national and regional economic development [11][14]

Core Viewpoint - Xiamen Xiangyu has transformed from early exploration of "commodity trade linkage" to participating in "industrial chain operations," establishing itself as a leading enterprise in the domestic bulk commodity supply chain sector, showcasing a successful example of state-owned enterprise reform [2] Group 1: Strategic Development - The company aims to create industrial value through circulation in the restructured global supply chain, focusing on cooperation and value co-creation with various stakeholders [2][3] - Xiamen Xiangyu's internationalization strategy is summarized as "supply chain leading, logistics supporting, and investment driving," targeting complex supply chains and high logistics costs in resource-rich but infrastructure-poor regions [3][4] - The company emphasizes a "logistics first" approach to overcome global supply chain bottlenecks, viewing logistics as a strategic priority rather than a mere trade accessory [3] Group 2: Operational Performance - In the first half of 2025, Xiamen Xiangyu reported a net profit of 1.032 billion yuan, a year-on-year increase of 32.48%, with the second quarter showing a further increase of 40.83% [6][10] - The company has successfully integrated its operations in the agricultural and steel sectors, enhancing its collaborative effects [6] - Xiamen Xiangyu has developed a replicable international full industrial chain service model in the aluminum and new energy supply chain sectors, with significant growth in specific routes, such as over 15% and 50% for the China-Indonesia and China-Vietnam routes, respectively [3][6] Group 3: Innovation and Digitalization - The company has shifted from merely providing services to participating in operations, focusing on creating a full-chain value creation system [6][7] - Xiamen Xiangyu has implemented a digital supply chain service platform that has connected with over 10 financial institutions, helping clients secure approximately 9.8 billion yuan in financing [10] - The introduction of AI into business processes has significantly improved operational efficiency, with the development of an AI assistant for various functions [11] Group 4: Future Outlook - The company plans to prioritize Southeast Asia and Africa for future development, with a gradual expansion into Central Asia, South Asia, and the Americas [5] - Xiamen Xiangyu aims to become a global leader in supply chain services, focusing on ten key battles to enhance its operational structure and international expansion [9] - The company is committed to integrating into national and regional economic development, emphasizing high-quality supply chain services and green development paths [12]

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个别及连带责任。 重要内容提示： ● 限制性股票授予登记日：股票授予登记日为2025年10月16日。 ● 限制性股票授予登记数量：17,162.6037万股（其中股票来源为公司从二级市场回购的公司股票 10,000.0037万股，向激励对象定向发行的公司股票7,162.6000万股），占本次授予前公司总股本的比例 6.20% 根据《上市公司股权激励管理办法》和上海证券交易所、中国证券登记结算有限责任公司上海分公司的 有关规定，厦门象屿股份有限公司（以下简称"公司"）完成了2025年限制性股票激励计划（以下简 称"本激励计划"）授予股份的授予登记工作，具体情况公告如下： 一、本激励计划授予情况 根据公司2025年第二次临时股东大会的授权，公司于2025年9月4日召开第九届董事会薪酬与考核委员会 第三次临时会议、第九届董事会第三十六次会议、第九届监事会第二十四次会议，审议通过了《关于向 激励对象授予限制性股票的议案》，同意以2025年9月4日为授予日，向符合条件的928名激励对象授予 17,19 ...

| 证券代码：600057 | 证券简称：厦门象屿 | | | 公告编号：2025-085 | | --- | --- | --- | --- | --- | | 债券代码：240429 | 债券简称：23 | 象屿 | Y2 | | | 债券代码：240722 | 债券简称：24 | 象屿 | Y1 | | | 债券代码：242565 | 债券简称：25 | 象屿 | Y1 | | | 债券代码：242747 | 债券简称：25 | 象屿 | Y2 | | | 债券代码：242748 | 债券简称：25 | 象屿 | Y3 | | 厦门象屿股份有限公司 关于 2025 年限制性股票激励计划授予结果公告 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个别及连带责任。 重要内容提示： 限制性股票授予登记日：股票授予登记日为2025年10月16日。 限制性股票授予登记数量：17,162.6037万股（其中股票来源为公司从二级 市场回购的公司股票10,000.0037万股，向激励对象定向发行的公司股票7,162.6000 万股），占本次授予前 ...

Core Viewpoint - The logistics sector experienced a decline of 1.6% on October 17, with major stocks like Huaguang Yuanhai leading the drop, while the Shanghai Composite Index fell by 1.95% and the Shenzhen Component Index decreased by 3.04% [1][2]. Group 1: Market Performance - The logistics sector's stocks showed mixed performance, with YD Holdings rising by 10.03% to close at 9.76, while Huami Yuanhai fell by 5.74% to 26.58 [1][2]. - The trading volume for YD Holdings was 542,900 shares, with a transaction value of 525 million yuan, indicating strong investor interest [1]. - The overall market saw significant declines, with the Shanghai Composite Index closing at 3839.76 and the Shenzhen Component Index at 12688.94 [1]. Group 2: Capital Flow - The logistics sector experienced a net outflow of 658 million yuan from institutional investors, while retail investors saw a net inflow of 471 million yuan [2][3]. - Notable stocks like Xiamen Guomao and Jianda Co. had varying net inflows and outflows, with Xiamen Guomao seeing a net inflow of 15.31 million yuan from institutional investors [3]. - The overall capital flow indicates a shift in investor sentiment, with retail investors showing more confidence compared to institutional investors [2][3].

Core Viewpoint - The Xiangyu Tianyu Lanshang residential project has launched its second round of subscription, receiving a strong market response, with the subscription period running from October 15 to October 19, and the official opening expected on October 24 [1][3]. Group 1: Project Overview - Xiangyu Tianyu Lanshang is located in the core area of Zizhu, covering approximately 150,000 square meters, with a planned construction of around 1,000 residential units, including various types of homes ranging from 123 to 230 square meters [3]. - The first batch of villas and apartments launched in September saw a subscription rate exceeding 180%, leading to a quick sell-out on the opening day [3]. - The second batch consists of 66 units starting at a total price of 7.53 million, with a building area of approximately 123 square meters, which has already been certified as of October 13 [3]. Group 2: Market Context - Low-density residential land in Shanghai's main urban area is scarce, with only 3 out of 239 residential land plots launched in 2023 having a floor area ratio below 1.05, representing less than 1.3% [3]. - The project highlights the increasing value of low-density residential land in the market [3]. Group 3: Design and Amenities - The architectural design of the project combines European styles, aiming to create a "collectible time artwork" with unique community spaces, including a fountain modeled after London's Trafalgar Square and a garden pool [6]. - The design of the 123 square meter unit caters to all-age living needs, featuring a spacious living room balcony and a master bedroom with panoramic views [9]. - Future amenities will include two clubhouses to enhance residents' quality of life [9]. Group 4: Environmental and Community Integration - The project is centered around the 400,000 square meter Lanshang Lake, the largest artificial lake in Minhang District, contributing to the ecological advantages of the Zizhu High-tech Zone and the broader "Big Zero Bay" area [8]. - The "Big Zero Bay" planning emphasizes ecological protection and resource utilization, preserving 120 hectares of green space, which constitutes 23% of the total planned area [8]. Group 5: Surrounding Infrastructure - The surrounding infrastructure is improving, with a "double-track + elevated" transportation network being established, connecting to major lines and highways [12]. - Educational facilities within a 3-kilometer radius include high-quality institutions from kindergartens to prestigious universities [12]. - The area is also seeing growth in medical and commercial facilities, with the construction of the Ruijin Hospital South Campus and the development of a large shopping district [12].

| 证券代码：600057 | 证券简称：厦门象屿 | | | 公告编号：2025-084 | | --- | --- | --- | --- | --- | | 债券代码：240429 | 债券简称：23 | 象屿 | Y2 | | | 债券代码：240722 | 债券简称：24 | 象屿 | Y1 | | | 债券代码：242565 | 债券简称：25 | 象屿 | Y1 | | | 债券代码：242747 | 债券简称：25 | 象屿 | Y2 | | | 债券代码：242748 | 债券简称：25象屿Y3 | | | | 厦门象屿股份有限公司 关于股份性质变更暨 2025 年限制性股票激励计划权 益授予的进展公告 本次变更前后，公司股本结构变化情况如下： 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个别及连带责任。 厦门象屿股份有限公司（以下简称"公司"或"厦门象屿"）2025年限制性股票 激励计划（以下简称"本激励计划"）规定的限制性股票授予条件已成就。根据公 司2025年第二次临时股东大会的授权，公司于2025年9月4日召 ...