Summary of Conference Call Notes Industry Overview - The overall exhibition industry is expected to perform better in 2025 compared to 2024, with signs of recovery in both domestic and international markets. The challenges faced in 2024 were due to multiple factors including government and environmental influences. However, improvements in government finances and economic stimulus measures are anticipated to stabilize the domestic economy. Internationally, political stability in countries like Japan, South Korea, and Germany is expected to promote international trade, leading to an optimistic outlook for the exhibition market in 2025 [4][6][12]. Company Performance and Strategy - The company faced challenges in 2024 due to a misjudgment of market conditions, leading to unmet revenue and profit targets. The initial goal was to achieve around 19,000 products, but only approximately 14,000 were completed. Despite this, the company reported successful exhibition outcomes in Southeast Asia, the Middle East, and the Americas [6][12]. - The company is focusing on digital transformation, upgrading O2O products to AI products, with the first application set for a May exhibition in Vietnam. The introduction of AI smart exhibition services is expected to generate significant revenue [6][31]. Adjustments in Exhibition Plans - In 2025, the company will adjust its exhibition plans by canceling some events in Tokyo, Japan, while increasing exhibitions in India and reducing those in Indonesia. These changes are based on market demand and resource optimization [7][9]. - The company plans to restore exhibitions in India, expecting to attract over 2,000 booths with a gross margin of over 50%, leveraging existing relationships with local suppliers and buyers [9][13]. - The company will enter the Saudi Arabian market in December 2025, anticipating around 1,000 booths due to the upcoming 2030 World Expo and other large projects [11][13]. Market Specific Insights - The Japanese market is becoming increasingly competitive, with the company planning to host four textile exhibitions in 2025, up from three in 2024. Expected booth numbers are approximately 400 in Osaka and 500-800 in Tokyo [8][15]. - The Indonesian market will see a reduction in the number of exhibitions from three to two, aligning with current market demands and resource allocation [10][23]. - In Brazil, the expected exhibition scale is around 1,000 booths, with a 30-40% growth anticipated compared to the previous year due to improved visa conditions [19][20]. Financial Goals and Profitability - The company's strategic goal is to achieve 100% of the profit target set in the equity incentive plan by increasing revenue and profits through high-margin markets like India and Saudi Arabia, while optimizing existing market resources [13][12]. - The company aims to reach a total of approximately 20,000 visitors in 2025, adjusting its growth targets to accommodate the current market conditions [13]. Collaborations and Partnerships - The company is focusing on collaborations with domestic exhibition organizers to enhance its international outreach. Partnerships with notable firms are expected to yield significant results in upcoming exhibitions [27][29]. - The profit-sharing model for collaborative exhibitions is generally a 50-50 split, which helps reduce costs associated with building a sales team [30][29]. Conclusion - The company is strategically positioning itself to navigate the challenges of the exhibition industry by focusing on high-potential markets, leveraging technology, and optimizing its exhibition plans. The outlook for 2025 is cautiously optimistic, with a focus on recovery and growth in key regions [4][12][13].

Summary of Conference Call Company and Industry - The conference call discusses a company involved in organizing exhibitions and trade shows, focusing on the Chinese market and its expansion into global markets, particularly in Southeast Asia and the Middle East, including Saudi Arabia and Dubai. Key Points and Arguments 1. **Market Conditions and Strategic Adjustments** - The company experienced a significant downturn this year, described as a "cold winter," leading to strategic adjustments in July, which were considered late for effective implementation [3][4][7]. - The focus has shifted from rapid revenue growth to managing costs and improving sales team management due to challenging market conditions [3][4]. 2. **Exhibition Performance** - The company hosted several exhibitions, with the last one concluding on the 19th, which received positive feedback, particularly from Taiwanese participants [4][5]. - The company reported a strong turnout at the Indonesian exhibition, indicating a recovery in interest and attendance compared to previous years [4][5]. 3. **Digital Transformation and Global Appeal** - The pandemic accelerated the company's digital transformation, allowing it to lead in global digital exhibition models, attracting a significant number of precise customers through online platforms [5][6]. - There is a noted preference for Chinese products in the current global economic climate, which the company aims to leverage for future exhibitions [5][6]. 4. **Future Plans and Market Expansion** - The company plans to expand into Saudi Arabia, with expectations of high profit margins (potentially 50-60%) from this market due to its size and demand for Chinese products [8][9][11]. - There is optimism about the Indian market reopening, which could significantly increase participation in exhibitions and overall revenue [9][11]. 5. **Financial Outlook and Profitability** - The company is focusing on profitability rather than just revenue growth, with expectations of improved margins from new markets [11][12]. - The overall financial environment is expected to improve compared to the previous year, with government support and subsidies anticipated to be more effective [11][12]. 6. **Competitive Landscape** - The competitive landscape remains largely unchanged, with local exhibitions being the primary competition. However, there is an increasing trend of Chinese companies expanding internationally, which could alter dynamics [17][18]. - The company views the current competitive environment as beneficial, as it enhances its visibility and brand recognition in the exhibition industry [19][20]. Other Important Content - The company has faced challenges with exhibition cancellations and a high rate of booth withdrawals, indicating a need for better management and strategic planning [7][11]. - There is a focus on the importance of government support for the exhibition industry, particularly in terms of subsidies and financial assistance for participating companies [10][12]. - The call highlighted the significance of first-time exhibitors and new product launches at trade shows, which are crucial for the company's growth strategy [13][14]. This summary encapsulates the key discussions and insights from the conference call, reflecting the company's current challenges, strategic adjustments, and future outlook in the exhibition industry.

Summary of Conference Call Company and Industry - The conference call primarily discusses the exhibition industry, specifically focusing on the company involved in organizing trade shows in emerging markets like Indonesia and Dubai. The company is adapting its strategies in response to economic conditions and market demands. Key Points and Arguments 1. **Market Changes and Strategic Shift** The company has experienced significant changes in the market this year and is undergoing a strategic transformation to adapt to economic conditions, focusing on cost management and efficiency [2][3][4] 2. **Exhibition Attendance and New Models** The company reports a strong attendance at its exhibitions, leveraging a new data-driven model that enhances the quality and quantity of its database, allowing for more precise targeting of attendees [3][4][20] 3. **Economic Conditions in Target Markets** The economic situation in Indonesia is described as challenging, with consumer purchasing power still developing. The company aims to help businesses understand and penetrate this market through exhibitions [4][6][16] 4. **Export Opportunities and Challenges** The company highlights the importance of exhibitions as a primary channel for Chinese companies to export products, noting that approximately 70% of foreign trade is facilitated through participation in trade shows [9][10] 5. **Future Market Expansion** Plans for future exhibitions in Indonesia and Dubai are discussed, with an emphasis on the need for Chinese companies to explore new markets due to overcapacity in domestic production [6][7][24] 6. **Digital Transformation and AI Integration** The company is actively exploring digital transformation and AI applications to enhance sales and service efficiency, particularly in matching buyers and sellers [26][34] 7. **Local Operations and Workforce** The company has established a significant local presence in Indonesia, employing over 100 staff to facilitate operations, while also expanding its office in Dubai to support internationalization efforts [35][36] 8. **Profitability and Revenue Growth** The company anticipates that the upcoming years will see improved profitability and revenue growth, particularly in the industrial sector, as it continues to refine its strategic focus [24][25][30] Other Important but Overlooked Content 1. **Exhibition Features and Brand Building** The role of exhibitions in brand building and product launches is emphasized, with a focus on the need for companies to present new products to remain competitive [14][18] 2. **Market-Specific Preferences** The company notes that consumer preferences vary significantly by region, which necessitates tailored approaches for different markets, particularly in Indonesia [15] 3. **Long-Term Strategic Planning** The company is focused on long-term strategic planning, with a cautious approach to expanding its sales team and operations in response to current economic conditions [32][29] 4. **Collaboration with Established Brands** The company is collaborating with established brands and industry leaders to enhance its exhibition offerings and attract more participants [31][22] 5. **Challenges in Exporting to Indonesia** High tariffs and market entry barriers in Indonesia pose challenges for many companies, particularly those without established brands [18] This summary encapsulates the key discussions and insights from the conference call, providing a comprehensive overview of the company's current status and future direction in the exhibition industry.

1、公司前期披露的信息不存在需要更正、补充之处。 浙江米奥兰特商务会展股份有限公司（以下简称"公司"）股票 交易价格连续三个交易日（2024 年 12 月 12 日、2024 年 12 月 13 日、 2024 年 12 月 16 日）收盘价格涨幅偏离值累计超过 30%，根据深圳证 券交易所相关规定，属于股票交易异常波动的情形。 2、公司未发现近期公共传媒报道了可能或已经对本公司股票交 易价格产生较大影响的未公开重大信息。 证券代码：300795 证券简称：米奥会展 公告编号：2024-090 浙江米奥兰特商务会展股份有限公司 关于公司股票交易异常波动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 二、公司关注并核实情况的说明 一、股票交易异常波动情况 针对公司股票异常波动的情况，公司对有关事项进行了核查，并 向公司第一大股东及持股 5%以上的股东就相关事项进行了核实，现 将相关情况说明如下： 6、经自查，公司不存在违反公平信息披露规定的其他情形。 3、近期公司经营情况及内外部经营环境未发生重大变化。 三、是否存在应披露而未披露信息的说明 4、经核查， ...

证券代码：300795 证券简称：米奥会展 公告编号：2024-089 浙江米奥兰特商务会展股份有限公司 关于注销部分募集资金专项账户的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 一、募集资金基本情况 1、募集资金的基本情况 经中国证券监督管理委员会签发的《关于核准浙江米奥兰特商务 会展股份有限公司首次公开发行股票的批复》（证监许可〔2019〕1740 号）核准，公司向社会公众发行人民币普通股（A 股）25,041,000 股， 每股发行价为人民币 14.27 元，募集资金总额为人民币 357,335,070 元，扣除发行费用 55,025,300 元后，募集资金净额为人民币 302,309,770 元。天健会计师事务所（特殊普通合伙）已于 2019 年 10 月 16 日对公司上述募集资金到位情况进行了审验，并出具了天健 验〔2019〕341 号《验资报告》。公司已就本次募集资金的存放签订 了《募集资金三方监管协议》，募集资金已经全部存放于募集资金专 户。 根据《浙江米奥兰特商务会展股份有限公司首次公开发行股票 并在创业板上市招股说明书》，本次首次 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 21.35 CNY per share, compared to the current price of 19.05 CNY [5][3]. Core Insights - The company reported a revenue of 425 million CNY for the first three quarters of 2024, a decrease of 9.44% year-on-year, and a net profit attributable to shareholders of 68.14 million CNY, down 16.62% year-on-year. However, in Q3 2024, the company achieved a revenue of 165 million CNY, representing a year-on-year growth of 42.29%, and a net profit of 27.42 million CNY, up 396% year-on-year [2][3]. - The company plans to host five exhibitions in Q4 2024, including a significant event in India, which is expected to contribute positively to profits due to improved bilateral relations and higher chances of visa approvals for participants [2][3]. Financial Performance Summary - Revenue (in million CNY): - 2022: 348 - 2023: 835 - 2024E: 1013 - 2025E: 1297 - 2026E: 1594 - Year-on-year growth rates for revenue are projected at 91.8% for 2022, 139.7% for 2023, and 21.3% for 2024 [4][3]. - Net profit (in million CNY): - 2022: 50 - 2023: 188 - 2024E: 223 - 2025E: 307 - 2026E: 393 - Year-on-year growth rates for net profit are projected at 187.4% for 2022, 273.5% for 2023, and 18.7% for 2024 [4][3]. Profitability Metrics - The company’s gross margin for the first three quarters of 2024 was 50.17%, a decrease of 2.05 percentage points year-on-year, primarily due to fixed exhibition costs despite a decline in revenue [2]. - The net profit margin is expected to improve in the coming years, with projections of 29.4% for 2024, 28.7% for 2025, and 26.9% for 2026 [4][3]. Valuation Metrics - The report suggests a price-to-earnings (P/E) ratio of 22 times for 2024, indicating a reasonable valuation based on comparable companies [3]. - The expected earnings per share (EPS) for 2024 is projected at 0.97 CNY, with further increases to 1.33 CNY in 2025 and 1.71 CNY in 2026 [4][3].

证券代码：300795 证券简称：米奥会展 公告编号：2024-088 浙江米奥兰特商务会展股份有限公司 关于注销部分募集资金专项账户的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 一、募集资金基本情况 1、募集资金的基本情况 经中国证券监督管理委员会签发的《关于核准浙江米奥兰特商务 会展股份有限公司首次公开发行股票的批复》（证监许可〔2019〕1740 号）核准，公司向社会公众发行人民币普通股（A 股）25,041,000 股， 每股发行价为人民币 14.27 元，募集资金总额为人民币 357,335,070 元，扣除发行费用 55,025,300 元后，募集资金净额为人民币 302,309,770 元。天健会计师事务所（特殊普通合伙）已于 2019 年 10 月 16 日对公司上述募集资金到位情况进行了审验，并出具了天健 验〔2019〕341 号《验资报告》。公司已就本次募集资金的存放签订 了《募集资金三方监管协议》，募集资金已经全部存放于募集资金专 户。 根据《浙江米奥兰特商务会展股份有限公司首次公开发行股票 并在创业板上市招股说明书》，本次首次 ...

证券代码：300795 证券简称：米奥会展 公告编号：2024-087 浙江米奥兰特商务会展股份有限公司 关于公司首次公开发行股票募投项目结项 并将节余募集资金永久补充流动资金的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 浙江米奥兰特商务会展股份有限公司（以下简称"公司"）首 次公开发行股票募集资金投资项目"境外自办展业务升级与扩展项 目"已达到预定可使用状态并结项，公司拟将节余募集资金 1,229,491.13元（含银行存款利息及理财收益，实际金额以资金转 出当日专户余额为准）永久性补充流动资金，用于公司的日常经营 所需，同时注销相应募集资金专项账户。现将相关事项公告如下： 一、募集资金基本情况 经中国证券监督管理委员会签发的《关于核准浙江米奥兰特商务 会展股份有限公司首次公开发行股票的批复》（证监许可【2019】1740 号）核准，公司向社会公众发行人民币普通股（A 股）25,041,000 股， 每股发行价为人民币 14.27 元，募集资金总额为人民币 357,335,070 元，扣除发行费用 55,025,300 元后，募集资金净额为人民币 ...

国金证券股份有限公司 关于浙江米奥兰特商务会展股份有限公司 募集资金投资项目结项并将节余募集资金永久补充流动资金 的核查意见 根据《证券发行上市保荐业务管理办法》《上市公司监管指引第 2 号——上 市公司募集资金管理和使用的监管要求》《深圳证券交易所上市公司自律监管指 引第 2 号——创业板上市公司规范运作》等有关规定，作为浙江米奥兰特商务会 展股份有限公司（以下简称"米奥会展"或"公司"）首次公开发行股票的保荐 机构，国金证券股份有限公司（以下简称"国金证券"或"保荐机构"）对公司 募集资金投资项目结项并将节余募集资金永久补充流动资金事宜进行了审慎调 查。本次核查的具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准浙江米奥兰特商务会展股份有限公司 首次公开发行股票的批复》（证监许可【2019】1740 号）的核准，公司首次公开 发行人民币普通股（A 股）25,041,000 股，每股面值人民币 1 元，每股发行价格 为人民币 14.27 元，募集资金总额为人民币 357,335,070.00 元，扣除发行费用 人民币 55,025,300.00 元后，募集资金净额为人民币 302,30 ...

证券代码：300795 证券简称：米奥会展 公告编号：2024-086 浙江米奥兰特商务会展股份有限公司 关于2022年限制性股票激励计划第二个归属期归属结果暨股份上市 的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1、本次归属股票上市流通日：2024 年 11 月 18 日，本次归属的 限制性股票不设限售期，激励对象为董事、高级管理人员的按照相关 规定执行。 2、本次限制性股票归属数量：45.00 万股 3、本次归属的激励对象人数：3 人 4、本次归属股票来源：本激励计划涉及的标的股票来源为公司 向激励对象定向发行本公司 A 股普通股股票。 5、本次限制性股票归属价格：5.01 元/股（调整后） 浙江米奥兰特商务会展股份有限公司（以下简称"公司"或"米 奥会展"）于 2024 年 10 月 28 日召开第五届董事会第二十九次会议、 第五届监事会第二十六次会议，审议通过了《关于 2022 年限制性股 票激励计划第二个归属期归属条件成就的议案》，根据《上市公司股 权激励管理办法》《浙江米奥兰特商务会展股份有限公司 2022 年限 制性股 ...