证券代码：603871 证券简称：嘉友国际 公告编号：2024-067 嘉友国际物流股份有限公司 关于与 Mongolian Mining Corporation 签订长期合作协议 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： 履约的重大风险及不确定性：本合作协议为双方基于现有的资源、优势 而就未来合作意向而达成的框架性、意向性约定，无强制约束力，后续的合作内 容、实施进度均需双方进一步协商，存在一定的不确定性，且合作实施过程中受 多方面因素影响，具体情况以双方后续签订的协议为准。敬请投资者注意投资风 险。 对公司业绩的影响：本次签订合作协议将对公司财务状况和经营成果产 生积极影响，具体影响金额将视后续业务的实施情况而定，具有不确定性。 2024 年 11 月 5 日，嘉友国际物流股份有限公司（简称"公司"）与 Mongolian Mining Corporation（港交所股份代号：00975，简称"MMC")签订《长期合作 协议》，具体情况如下： 一、合作协议签订的基本情况 （一）交易对方的基本情 ...

Summary of Conference Call Company Overview - The conference call discusses the financial performance and strategic initiatives of a logistics company, referred to as "the company," focusing on its operations in Africa and Mongolia. Key Financial Metrics - In Q3, the company achieved a revenue of 1.903 billion yuan, a decrease of 16.98% year-over-year. However, year-to-date revenue reached 6.544 billion yuan, an increase of 28.3% compared to the previous year [1] - The net profit attributable to shareholders for Q3 was 329 million yuan, down 31.18% year-over-year, while the year-to-date net profit was 1.088 billion yuan, up 44.23% [1] - The company reported a basic earnings per share of 1.12 yuan, an increase of 45.45% year-over-year, and a weighted average return on equity of 20.54%, up 3.47 percentage points [1] Asset and Equity Growth - As of Q3, total assets amounted to 8.239 billion yuan, a growth of 27.39% from the previous year, while net assets attributable to shareholders reached 5.614 billion yuan, up 15.14% [2] - The company has exceeded its full-year profit target of 1.039 billion yuan by Q3, indicating strong overall performance [2] Strategic Initiatives in Africa - The company is focusing on building a logistics network in Southeast Africa, particularly through its acquisition of BHL, which enhances its operational capabilities in the region [3][4] - BHL's integration is crucial for establishing a continuous logistics network that connects inland freight routes with ports, facilitating the movement of goods across various countries [4][5] - The company aims to leverage BHL's existing infrastructure and reputation to expand its service offerings and improve operational efficiency [5][6] Long-term Logistics Network Development - The company is actively developing a logistics network that includes key nodes in countries like Zambia and Tanzania, with ongoing investments in infrastructure [7][8] - The establishment of a logistics network is expected to enhance the company's ability to serve both domestic and international clients, particularly in the mining sector [8][9] - The company is also exploring partnerships with local authorities to optimize logistics operations and improve service delivery [10][11] Challenges and Market Conditions - The company acknowledged challenges in the coal market, with a noted decrease in demand and pricing pressures affecting Q3 performance [12][13] - In response, the company adjusted its sales and procurement strategies, focusing on long-term supply chain stability [12][13] Future Outlook and Capital Expenditure - The company plans to increase sales volume by 10% in Q4 to meet annual targets, while continuing to develop contracts and partnerships in Africa [14][15] - Capital expenditures are expected to remain robust over the next one to two years, with a focus on projects that enhance logistics capabilities [28][30] - The company maintains a strong cash position, allowing it to fund ongoing projects without reliance on external financing [29][30] Conclusion - The company is positioned for growth in the logistics sector, particularly in Africa, with a clear strategy to build a comprehensive logistics network that meets the needs of its clients [35][36] - The management emphasizes a long-term vision for sustainable growth, focusing on operational efficiency and market expansion [36][37]

Investment Rating - The report maintains an "Outperform" rating for the company, with a target price of 24.81 RMB based on a 15x PE for 2024 [3][11]. Core Insights - The company reported a slowdown in growth for Q3 2024, with a net profit of 329 million RMB, a 30% year-over-year increase. However, the net profit for the first three quarters reached 1.09 billion RMB, reflecting a 44.73% year-over-year growth [1][11]. - The growth in Mongolian coal volumes has slowed in the second half of the year due to weak domestic demand and high inventory levels, impacting Q3 supply chain performance. However, a recovery is anticipated in Q4 due to winter demand [2][11]. - The African logistics business is expanding rapidly, with the company replicating its Mongolian operations in Africa, aiming to establish a second growth curve. The logistics project in Congo has shown significant growth in the first three quarters of 2024 [2][3][11]. Financial Summary - The company forecasts net profits of 1.62 billion RMB, 2.14 billion RMB, and 2.68 billion RMB for 2024, 2025, and 2026 respectively, with corresponding EPS of 1.65 RMB, 2.19 RMB, and 2.74 RMB [3][11]. - Revenue projections are set at 9.45 billion RMB for 2024, 12.06 billion RMB for 2025, and 15.61 billion RMB for 2026, with year-over-year growth rates of 35.0%, 27.7%, and 29.3% respectively [4][9].

Financial Performance - The company's operating revenue for Q3 2024 was ¥1,903,663,974.69, a decrease of 16.98% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2024 was ¥329,293,363.97, an increase of 31.18% year-over-year[2] - Basic earnings per share for Q3 2024 was ¥0.34, reflecting a growth of 30.77% compared to the same period last year[2] - Total operating revenue for the first three quarters of 2024 reached CNY 6,544,252,179.84, an increase of 28.3% compared to CNY 5,100,868,810.68 in the same period of 2023[16] - Operating profit for the first three quarters of 2024 was CNY 1,288,604,728.94, representing a significant increase from CNY 863,402,705.03 in 2023[16] - The total comprehensive income for Q3 2024 was approximately ¥1.07 billion, compared to ¥774.45 million in Q3 2023, an increase of 37.7%[17] Assets and Liabilities - Total assets as of the end of Q3 2024 reached ¥8,238,911,503.01, representing a 27.39% increase from the end of the previous year[3] - The total assets of the company as of the end of Q3 2024 amounted to CNY 8,238,911,503.01, compared to CNY 6,467,457,995.28 at the end of Q3 2023, reflecting a growth of 27.4%[15] - The company's total liabilities reached CNY 2,475,047,039.36 in Q3 2024, up from CNY 1,470,276,635.86 in Q3 2023, marking a rise of 68.2%[15] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥911,224,677.31, down 45.43% compared to the same period last year[2] - The net cash flow from operating activities for the first nine months of 2024 was approximately ¥911.22 million, a decrease of 45.5% compared to ¥1.67 billion in the same period of 2023[18] - Cash inflow from operating activities totaled approximately ¥8.16 billion for the first nine months of 2024, compared to ¥5.87 billion in the same period of 2023, reflecting a growth of 39.1%[18] - The company reported a net cash outflow from investing activities of approximately ¥1.34 billion for the first nine months of 2024, compared to a net outflow of ¥128.11 million in the same period of 2023[19] - The cash and cash equivalents at the end of Q3 2024 were approximately ¥1.01 billion, down from ¥2.23 billion at the end of Q3 2023, indicating a decrease of 54.7%[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 12,413[9] - The top 10 shareholders hold a total of 24.91% of shares, with 嘉鑫毅 (Shanghai) Enterprise Management Partnership holding 243,446,308 shares[9] - The number of shares held by the top 10 unrestricted shareholders totals 243,446,308 shares, representing 24.91% of the total shares[10] - The company plans to distribute a cash dividend of 0.3 RMB per share, totaling 292,224,022.80 RMB (including tax) based on a total share capital of 974,080,076 shares after buyback[12] Operational Insights - The company attributed the increase in net profit to business scale growth and profit increase[6] - The company plans to continue expanding its market presence and investing in new technologies[6] - The company completed the modernization and renovation project for the 卡松巴莱萨-萨卡尼亚 road and port, with surplus funds of 182.12 million RMB being permanently added to working capital[12] Inventory and Receivables - Accounts receivable increased to 355,986,226.84 RMB from 290,573,248.57 RMB year-over-year[13] - Inventory has risen significantly to 1,509,910,510.20 RMB compared to 889,340,290.53 RMB in the previous year[13] - The company has a significant increase in prepayments, which rose to 526,619,863.00 RMB from 370,933,458.80 RMB[13] Research and Development - Research and development expenses for the first three quarters of 2024 were CNY 12,622,594.22, slightly up from CNY 11,543,882.07 in 2023[16]

嘉友国际物流股份有限公司 证券代码：603871 证券简称：嘉友国际 公告编号：2024-066 2024 年 10 月 25 日，公司完成工商变更登记和《公司章程》备案手续，取 得北京市西城区市场监督管理局换发的《营业执照》，公司注册资本由人民币 69,884.0449 万元变更为人民币 97,714.9042 万元。 特此公告。 嘉友国际物流股份有限公司董事会 2024 年 10 月 29 日 关于完成工商变更登记的公告 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。 嘉友国际物流股份有限公司（简称"公司"）于 2024 年 7 月 29 日、2024 年 8 月 15 日分别召开第三届董事会第二十五次会议、2024 年第二次临时股东大会 审议通过《关于变更注册资本的议案》、《关于修订<公司章程>的议案》。具体内 容详见公司于 2024 年 7 月 30 日、2024 年 8 月 16 日在上海证券交易所网站披露 的相关公告。 ...

证券代码：603871 证券简称：嘉友国际 公告编号：2024-065 嘉友国际物流股份有限公司 2024 年半年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利 0.3 元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2024/10/31 | － | 2024/11/1 | 2024/11/1 | 差异化分红送转： 是 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司 2024 年 9 月 20 日的 2024 年第三次临时股东大会审 议通过。 二、分配方案 1.发放年度：2024 年半年度 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 根据《公司法》《上市公司股份回购规则》《上海证券交易所上市公司自律监 ...

海通证券股份有限公司 关于嘉友国际物流股份有限公司 差异化权益分派事项的核查意见 海通证券股份有限公司（以下简称"海通证券"或"保荐机构"）作为嘉友国际 物流股份有限公司（以下简称"嘉友国际"或"公司"）非公开发行股票的保荐机构， 根据《中华人民共和国公司法》《中华人民共和国证券法》《证券发行上市保荐业 务管理办法》《上市公司股份回购规则》《上海证券交易所交易规则》《上海证券 交易所上市公司自律监管指引第 7 号——回购股份》等有关规定，对嘉友国际差 异化权益分派事项进行了审慎核查，核查情况及核查意见如下： 一、 本次差异化权益分派的原因及依据 （一）回购审批情况和回购方案内容 根据《公司法》《证券法》《上市公司股份回购规则》《上海证券交易所上市 公司自律监管指引第 7 号——回购股份》等有关规定，公司回购专用账户中的股 份不享有利润分配、公积金转增股本等权利。因此，公司 2024 年半年度权益分 派实施差异化分红。 二、 差异化权益分派方案 公司于 2024 年 8 月 27 日、2024 年 9 月 20 日分别召开第三届董事会第二十 七次、第三届监事会第二十次会议及 2024 年第三次临时股东大会审议通 ...

证券代码：603871 证券简称：嘉友国际 公告编号：2024-064 嘉友国际物流股份有限公司 本公司董事会、全体董事及相关股东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： 董监高持股的基本情况：本次减持计划实施前，韩景华、孟联、唐世伦、 王本利、侯润平、白玉、武子彬七名自然人股东合计持有公司股份 220,240,300 股，占公司总股本的 22.54%。 减持计划的主要内容：根据公司于 2024 年 6 月 21 日披露的《股东减持 股份计划公告》，七名自然人股东拟通过集中竞价和/或大宗交易方式合计减持公 司股份不超过 32,570,800 股，减持比例不超过公司总股本的 3.33%，减持期间 为 2024 年 7 月 12 日至 2024 年 10 月 11 日。 减持计划的实施结果情况：截至 2024 年 10 月 11 日，七名自然人股东合 计减持公司股份 32,570,800 股，占公司总股本的 3.33%，本次减持计划实施完 毕。 | 股东 | 股东身份 | 持股数量 | 持股 | 当前持股股份来源 | | | -- ...

证券代码：603871 证券简称：嘉友国际 公告编号：2024-063 嘉友国际物流股份有限公司 关于控股股东变更名称、住所及经营范围的公告 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。 嘉友国际物流股份有限公司（简称"公司"）收到控股股东嘉鑫毅（上海） 企业管理合伙企业（有限合伙）（原名"嘉信益（天津）资产管理合伙企业（有 限合伙）"、简称"嘉鑫毅"）通知，嘉鑫毅于近日完成名称、住所及经营范围 的工商变更登记手续，并取得上海市徐汇区市场监督管理局核发的营业执照，变 更后的相关登记信息如下： 企业名称：嘉鑫毅（上海）企业管理合伙企业（有限合伙） 2024 年 10 月 9 日 执行事务合伙人：韩景华 出资额：3,000 万元人民币 成立日期：2015 年 6 月 24 日 主要经营场所：上海市徐汇区漕宝路 400 号 506 室 经营范围：一般项目：企业管理；自有资金投资的资产管理服务；信息系统 集成服务；软件开发；信息系统运行维护服务；技术服务、技术开发、技术咨询、 技术交流、技术转让、技术推广。（除依法须经批准的项目外， ...

证券代码：603871 证券简称：嘉友国际 公告编号：2024-062 嘉友国际物流股份有限公司 关于与大连海事大学签订校企合作协议的公告 重要内容提示： 履约的重大风险及不确定性：本协议为框架性协议，无强制约束力，实 施内容和进度存在一定的不确定性。敬请投资者注意投资风险。 对公司业绩的影响：本次签订校企合作协议是双方基于合作意向而达成 的战略框架性约定，不会对公司当年经营业绩产生影响，对未来业绩的影响将视 后续协议的具体实施情况而定，具有不确定性。 近日，嘉友国际物流股份有限公司（简称"嘉友国际"或"公司"）与大连 海事大学签订《校企合作协议》，具体情况如下： 一、校企合作协议签订的基本情况 （一）交易对方的基本情况 大连海事大学（原大连海运学院）是交通运输部直属的全国重点大学，是首 批列入国家"211 工程"和"双一流"建设高校，是交通运输部、教育部、辽宁 省人民政府、大连市人民政府共建高校，国家首个入选交通强国建设试点高校， 在海事领域的科研与教学水平居国内外同行前列。 （二）履行的审议程序 本协议为框架性协议，无需提交公司董事会、股东大会审议。 二、校企合作协议的主要内容 本公司董事会及全体董事保证 ...