GMG 国义招标
2 significant filings since 30 May 2026: 1 on major holder selling and 1 on dividend. The latest, on 11 Aug 2026: 持股5%以上股东减持股份结果公告.
自 30 May 2026 起有 2 份重大公告：major holder selling 1 份、dividend 1 份。最新一份（11 Aug 2026）：持股5%以上股东减持股份结果公告。
Price History 价格走势
1 session 个交易日, Thu 24 Sep 2026 · Live one-minute prices · High 最高 ¥7.85 · Low 最低 ¥7.54 · −3.19% on the previous close of ¥7.84As of 25 Sep 2026 截至2026年9月25日
GMG 国义招标 is a professional services firm listed on the Beijing Stock Exchange, providing tendering and consulting services. The company reported lower revenue and profit in 2025, with revenue at RMB277.2m and attributable net profit at RMB31.2m, down 11.6% and 41.3% respectively from 2024. Operating cash flow remained negative at -RMB0.17 per share in 2025, and cash outflows widened from the prior year. The share price changed by -42.1% over one year, adjusted for distributions and share changes. A control change was confirmed in May 2026 due to a state-owned equity transfer. Despite the decline in earnings and cash flow, the company maintains a strong balance sheet with a current ratio of 3.04 and low leverage at 29.7% liabilities to assets as of mid-2026. Profit quality is weak, with operating cash flow to net profit at -0.86x.
国义招标是一家在北京证券交易所上市的专业服务公司，提供招标及咨询服务。2025年营业收入为2.77亿元，归母净利润为3,119.4万元，较2024年分别下降11.6%和41.3%。2025年每股经营现金流为-0.17元，经营现金流持续为净流出且流出额扩大。过去一年股价涨跌幅（复权）为-42.1%。2026年5月因国有股权无偿划转完成，公司控股股东发生变更。尽管盈利与现金流下滑，截至2026年6月30日公司资产负债率为29.7%，流动比率和速动比率均为3.04，偿债能力较强。但利润质量较弱，经营现金流与净利润之比为-0.86倍。
| Flag 标记 | Risk 风险 | Mechanism 影响机制 |
|---|---|---|
| Operating cash outflow 经营现金净流出 | The company faces sustained operating cash outflows. 公司面临持续的经营现金流净流出。 | Negative operating cash flow per share of -RMB0.17 in 2025, worsening from -RMB0.12 in 2024, indicates declining cash generation from core operations. This weakens liquidity and increases reliance on external funding or asset use. 2025年每股经营现金流为-0.17元，较2024年的-0.12元进一步恶化，显示核心业务现金生成能力下降。这将削弱流动性，增加对外部融资或资产动用的依赖。 |
| Share price down 40% or more in a year 股价一年下跌40%或以上 | The share price has declined sharply over the past year. 过去一年股价大幅下跌。 | The one-year share price change is -42.1%, adjusted for distributions and share changes. This move occurred alongside a filing on control change, but no filing gives a cause for the price move. 过去一年股价涨跌幅（复权）为-42.1%。此次变动与控制权变更公告同期发生，但无文件说明股价变动原因。 |
- Change in attributable net profit for the full year 2026 compared to 2025.
2026全年归母净利润相较于2025年的变动情况。 - Operating cash flow per share in the 2026 full-year report.
2026年全年报告中的每股经营现金流。 - Revenue trend in the next interim report compared to the same period a year earlier.
下一期中期报告中营业收入与上年同期相比的趋势。 - Any new filings related to control or shareholder changes.
任何关于控制权或股东变动的新公告。 - Liabilities to assets ratio at the end of 2026.
2026年末资产负债率。 - Resolution of the control change impact on operations and governance.
控制权变更对经营和治理影响的后续进展。
- Company: GMG 国义招标, Beijing Stock Exchange 920039; industry Professional Services; listed 18 Aug 2021.
公司：国义招标，北京证券交易所 920039；行业：专业服务；上市日期：2021年8月18日。 - Close on 24 Sep 2026 RMB7.59; close on 24 Sep 2025 RMB13.28, RMB13.10 in today's terms; one-year change, adjusted for distributions and share changes -42.1%.
2026年9月24日收盘价7.59元；2025年9月24日收盘价13.28元（前复权13.10元）；一年涨跌幅（复权）-42.1%。 - 52-week range in today's terms, adjusted for distributions and share changes RMB7.14 to RMB13.92.
52周区间（前复权）7.14元至13.92元。 - In the last 12 months 1 trading days closed 9% or more above or below the day before (all days, not only this year). The 1 most recent of them: 17 Jun 2026 +10.8%.
近12个月共有1个交易日收盘涨跌幅达9%及以上（为全部交易日，不限于今年）。其中最近1个：2026年6月17日 +10.8%。 - Market capitalisation RMB1.17bn; P/E TTM 41.7; price to book 2.18x.
总市值11.67亿元；市盈率（TTM）41.7；市净率2.18倍。 - Revenue 2025 RMB277.2m; 2024 RMB313.4m; change -11.6%.
营业收入2025年2.77亿元；2024年3.13亿元；同比-11.6%。 - Attributable net profit 2025 RMB31.2m; 2024 RMB53.1m; change -41.3%.
归属于母公司股东的净利润2025年3,119.4万元；2024年5,313.4万元；同比-41.3%。 - Net profit excluding non-recurring items, 2025 change -38.5%.
2025年扣除非经常性损益后的净利润同比-38.5%。 - Basic EPS 2025 RMB0.20; 2024 RMB0.35.
基本每股收益2025年0.20元；2024年0.35元。 - Operating cash flow per share 2025 -RMB0.17; 2024 -RMB0.12; operating cash flow to net profit -0.86x.
每股经营现金流2025年-0.17元；2024年-0.12元；经营现金流与净利润之比-0.86倍。 - 2025 gross margin 41.6%; net margin 10.8%; ROE 5.8%.
2025年毛利率41.6%；净利率10.8%；净资产收益率5.8%。 - At 30 Jun 2026: liabilities to assets 29.7%; current ratio 3.04; quick ratio 3.04; receivable days 51; inventory days not shown.
截至2026年6月30日：资产负债率29.7%；流动比率3.04；速动比率3.04；应收账款周转天数51；存货周转天数未披露。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB116.3m, change -3.2%; attributable net profit RMB14.0m, change -18.7%; operating cash flow per share -RMB0.23.
截至2026年6月30日的报告期（六个月，不可与上述全年数据直接比较）：营业收入1.16亿元，同比-3.2%；归母净利润1,403.4万元，同比-18.7%；每股经营现金流-0.23元。 - In the 12 months to 25 Sep 2026: 1 distinct filing classed critical, high or as a lift; by class: 1 filing classed Change of Control. One filing can fall in more than one class, and several filings can concern one matter, such as the notice and the result of one auction.
截至2026年9月25日的近12个月：被归为重大、较高级别或解除类的公告共1份；按类别：归为控制权变更的公告1份。同一公告可属多个类别，同一事项亦可有多份公告，例如同一拍卖的提示公告与结果公告。 - 13 May 2026, Change of Control (high): filing titled 《关于控股股东国有股权无偿划转完成过户登记暨控股股东变更的公告》.
2026年5月13日，控制权变更：公告《关于控股股东国有股权无偿划转完成过户登记暨控股股东变更的公告》。 - Ownership: actual controller 广东省广新控股集团有限公司; largest holder at 30 Jun 2026: 广东省广新控股集团有限公司, 32.41%.
股权：实际控制人：广东省广新控股集团有限公司；2026年6月30日第一大股东：广东省广新控股集团有限公司，持股32.41%。 - Latest distribution: ex-date 30 Jun 2026, cash RMB0.10 per share.
最近一次分配：除权除息日2026年6月30日，每股现金0.10元。 - Aurelian Grade D, score 36.3 of 100, graded within a peer group of 33 companies in its industry; no rank among peers is given.
金源评级D，得分36.3（满分100），于行业同业33家中评定；未提供其在同业中的排名。 - Not held for this report: receivable ageing, litigation case amounts, the order book, the auditor's opinion and key audit matters, segment revenue.
本报告未掌握：应收账款账龄、诉讼案件金额、在手订单、审计意见及关键审计事项、分部收入。