Group 1 - In the past month (from April 16 to May 15), 39 companies listed on the Beijing Stock Exchange (BSE) were investigated by institutions, with Yizhi Mogu being the most popular, receiving attention from 78 institutions [1] - The types of institutions conducting the research included 39 brokerages, 33 funds, 27 private equity firms, 19 insurance companies, and 5 overseas institutions [1] - The companies that received the most attention after Yizhi Mogu were Litong Technology, Kangbiter, and Jikang Instruments, with 75, 73, and 50 institutions participating in their investigations, respectively [1] Group 2 - The average stock price of the companies investigated by institutions increased by 10.33% over the past month, with 32 stocks rising, including Guohang Ocean, Jinbo Biological, and Lintai New Materials, which saw increases of 78.12%, 28.19%, and 26.01% respectively [2] - The average daily turnover rate for the investigated companies was 8.38%, with the highest turnover rates recorded for Wanda Bearings, Taihu Snow, and Lintai New Materials at 24.09%, 20.70%, and 17.40% respectively [2] - As of May 15, the average market capitalization of all companies on the BSE was 3.071 billion yuan, while the average market capitalization of the investigated companies was 4.820 billion yuan [2] Group 3 - The table lists various companies along with the number of institutions that investigated them, the number of investigations, latest closing prices, percentage changes, and their respective industries [3] - Notable companies include Yizhi Mogu with 78 institutions and a price increase of 17.17%, Litong Technology with 75 institutions and a price increase of 22.84%, and Jinbo Biological with 23 institutions and a price increase of 28.19% [3]

证券代码：832225 证券简称：利通科技 公告编号：2025-040 漯河利通液压科技股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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 带法律责任。 一、 投资者关系活动类别 √特定对象调研 □业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 5 月 13 日 活动地点：线上交流 参会单位及人员：东吴证券、宁银理财有限责任公司 上市公司接待人员：董事会秘书何军 （2）高分子材料板块 公司拥有年产 2.5 万吨高分子材料生产线，能为下游橡胶软管、密封制品、 橡胶制品等领域的客户供应各类混炼胶。另外公司在青岛地区布局了研发机构和 中试产线，以借助青岛地区在高分子材料领域的人才、科技、产业等方面的优势， 不断提高高分子材料科技研发实力、研发转化能力及市场开拓能力。公司未来将 主要围绕通用混炼胶、特种混炼胶、尼龙材料改性及循环利用、预分散母胶粒、 预分散树脂颗粒、复合母胶粒等方面进行产品研发、生产和销售。但 ...

北京海润天睿律师事务所 关于漯河利通液压科技股份有限公司 2024 年年度股东会的 法律意见书 二〇二五年五月 法律意见书 北京海润天睿律师事务所 关于漯河利通液压科技股份有限公司 2024 年年度股东会的法律意见书 致：漯河利通液压科技股份有限公司 根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证 券法》（以下简称《证券法》）等法律、法规和规范性文件，以及《漯河利通液压 科技股份有限公司章程》（以下简称《公司章程》）等有关规定，北京海润天睿律 师事务所（以下简称"本所"）接受漯河利通液压科技股份有限公司（以下简称"公 司"）委托，指派本所律师出席公司2024年年度股东会（以下简称"本次股东会"）， 并就本次股东会的召集及召开程序、出席会议人员及会议召集人的资格、表决程 序及表决结果等相关事项发表法律意见。 关于本法律意见书，本所及本所律师谨作如下声明： （1）在本法律意见书中，本所及本所律师仅就本次股东会的召集及召开程 序、出席会议人员及召集人的资格、表决程序及表决结果进行核查和见证并发表 法律意见，不对本次股东会的议案内容及其所涉及的事实和数据的完整性、真实 性和准确性发表意见。 中 ...

证券代码：832225 证券简称：利通科技 公告编号：2025-038 漯河利通液压科技股份有限公司 2024 年年度股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 5 月 12 日 4.会议召集人：董事会 5.会议主持人：董事长赵洪亮先生 6.召开情况合法合规的说明： 本次股东会会议召集、召开符合有关法律、行政法规、部门规章、规范性文 件和《公司章程》的相关规定。 （二）会议出席情况 2.会议召开地点：公司三楼会议室 3.会议召开方式：现场投票与网络投票相结合 出席和授权出席本次股东会的股东共 6 人，持有表决权的股份总数 63,143,450 股，占公司有表决权股份总数的 49.75%。 其中通过网络投票参与本次股东会的股东共 0 人，持有表决权的股份总数 0 股，占公司有表决权股份总数的 0%。 （三）公司董事、监事、高级管理人员出席或列席股东会情况 1.公司在任董事 7 人，出席 7 人； 2.公司在任监 ...

Investment Rating - The investment rating for the company is "Outperform" (Maintain) [3] Core Views - The company achieved a revenue of 124 million yuan in Q1 2025, representing a year-on-year growth of 23.14%, and a net profit attributable to the parent company of 36 million yuan, up 86.13% year-on-year [3] - The company is actively expanding into the nuclear power hose market and has revised its profit forecasts for 2025-2027, expecting net profits of 122 million yuan, 147 million yuan, and 175 million yuan respectively, with corresponding EPS of 0.96 yuan, 1.16 yuan, and 1.38 yuan per share [3] - The company has successfully passed multiple certifications for its oil drilling hoses and has been included in the first-level supplier system of China National Petroleum Corporation (CNPC) [4] - The first ultra-high pressure equipment has been successfully launched, and the company is advancing the development of nuclear power hoses, which opens up new growth opportunities [5] Financial Summary and Valuation Indicators - In 2025, the company is expected to generate a revenue of 525 million yuan, with a year-on-year growth of 8.4% [7] - The gross profit margin is projected to be 42.6% in 2025, with a net profit margin of 23.1% [10] - The company’s return on equity (ROE) is expected to be 15.3% in 2025, with an EPS of 0.96 yuan [7][10]

Investment Rating - The investment rating for the company is "Outperform" (Maintain) [3] Core Views - The company has achieved a revenue of 124 million yuan in Q1 2025, representing a year-on-year growth of 23.14%, and a net profit attributable to the parent company of 36 million yuan, which is an increase of 86.13% year-on-year [3] - The company is actively expanding into the nuclear power hose sector and has revised its profit forecasts for 2026 and introduced a new forecast for 2027, expecting net profits of 122 million yuan, 147 million yuan, and 175 million yuan for 2025, 2026, and 2027 respectively [3] - The company has successfully passed multiple certifications for its oil drilling hoses and has been included in the first-level supplier system of China National Petroleum Corporation (CNPC) [4] - The first ultra-high pressure equipment has been successfully launched, and the company is advancing the development of nuclear power hoses, which opens up new growth opportunities [5] Financial Summary and Valuation Indicators - In 2025, the company is expected to achieve a revenue of 525 million yuan, with a year-on-year growth of 8.4% [7] - The net profit attributable to the parent company is projected to be 122 million yuan in 2025, reflecting a year-on-year increase of 13.3% [10] - The company's gross margin is expected to be 42.6% in 2025, with a net margin of 23.1% [10] - The earnings per share (EPS) for 2025 is estimated at 0.96 yuan, with a price-to-earnings (P/E) ratio of 19.6 times [7][10]

Investment Rating - The report maintains a "Recommended" investment rating for the company [2][5]. Core Viewpoints - The company has made significant progress in multiple new product layouts, including nuclear power hoses, data center liquid cooling hoses, and ultra-high pressure food sterilization equipment, which are expected to contribute to future growth [1][4]. - The company's revenue for 2024 is projected to be 484 million yuan, with a slight decline of 0.32% year-on-year, while the net profit is expected to be 107 million yuan, down 19.82% year-on-year. However, a strong recovery is anticipated in 2025, with net profits expected to grow by 16.30% to 125 million yuan [6][8]. - The company has achieved a gross margin of 43.26% in 2024, although it has decreased by 4.58 percentage points compared to the previous year. The increase in orders for high-value products, such as acid fracturing hose assemblies, has contributed to a recovery in performance in the first quarter of 2025 [4][8]. Financial Performance Summary - The company reported a revenue of 48,383.81 million yuan in 2024, with a net profit of 10,721.42 million yuan. In the first quarter of 2025, revenue increased by 23.14% year-on-year to 12,426.35 million yuan, and net profit surged by 86.13% to 3,564.10 million yuan [4][6]. - The projected financial indicators for 2025-2027 include a net profit of 1.25 billion yuan in 2025, 1.44 billion yuan in 2026, and 1.67 billion yuan in 2027, with corresponding growth rates of 16.30%, 15.70%, and 16.10% respectively [1][6]. - The company is expected to maintain a healthy financial position with a projected total asset of 1,025.62 million yuan in 2025 and a total liability of 227.41 million yuan [7][8].

Core Viewpoint - The report highlights the recovery of LITONG Technology's performance in Q1 2025, driven by increased orders for acid fracturing hose assemblies and a rebound in domestic demand for construction machinery [1][2]. Financial Performance - In 2024, the company reported operating revenue of 483.84 million yuan, a slight decrease of 0.32% year-on-year, and a net profit attributable to shareholders of 107.21 million yuan, down 19.82% year-on-year [1]. - For Q1 2025, the company achieved operating revenue of 124.26 million yuan, representing a year-on-year growth of 23.14%, and a net profit attributable to shareholders of 35.64 million yuan, up 86.13% year-on-year [1]. Product and Market Development - The company has seen an increase in orders for acid fracturing hose assemblies, contributing to a rise in gross margin to 43.26% in 2024, despite a decline of 4.58 percentage points from the previous year [2]. - The company has obtained API17K certification for its products, facilitating its expansion into the marine engineering hose market [3]. - Multiple new product developments have progressed, including 43 types of nuclear power hoses and a high-pressure food sterilization device, indicating a broadening of the company's product portfolio [4]. Future Growth Prospects - The company projects net profits of 125 million yuan, 144 million yuan, and 167 million yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 16.30%, 15.70%, and 16.10% [4]. - The market potential for the company's main products, including hydraulic rubber hoses and industrial hoses, is significant, with new product lines expected to contribute to future revenue growth [4].

Group 1: Investor Relations Activity Overview - The investor relations activity was an earnings briefing held on April 29, 2025, via the "Investor Relations Interactive Platform" [3] - Key attendees included the Chairman and General Manager, Mr. Zhao Hongliang, and the Secretary of the Board, Mr. He Jun [3] Group 2: Company Performance and Strategy - The company has a low debt-to-asset ratio and sufficient production capacity to meet market demand without immediate external financing needs [4] - The company is exploring flexible marketing strategies for its high-value ultra-high pressure sterilization equipment, including installment payments and leasing options [5] Group 3: Product Development and Market Position - The company is actively working on replacing imported products in the shield tunneling machine market and is narrowing performance gaps with international competitors [6] - In 2024, the company completed trials for 43 types of nuclear power hoses, with plans for domestic production to replace imports [7] Group 4: Sales and Revenue Insights - In Q1 2025, sales of hydraulic hoses and assemblies increased significantly due to a recovery in the domestic engineering machinery market, with major clients including SANY and XCMG [8] - The acid fracturing hose business has seen record sales in Q1 2025, continuing the positive trend from Q4 2024 [9] Group 5: Financial Performance Analysis - The company's revenue for 2024 remained stable compared to 2023, but net profit declined by approximately 20% due to a decrease in high-margin product sales [10] - The company has become a primary supplier for China National Petroleum Corporation, with ongoing efforts to expand the domestic market for acid fracturing hoses [11] Group 6: Product Specifications and Manufacturing - The 300L ultra-high pressure sterilization equipment is fully domestically produced, with no reliance on imported key components [12]

Financial Performance - The company reported a basic earnings per share of 0.2800 yuan for Q1 2025, representing a 55.56% increase compared to 0.1800 yuan in Q1 2024 [1] - Net profit for Q1 2025 was 0.36 billion yuan, an increase of 89.47% from 0.19 billion yuan in Q1 2024 [1] - Operating revenue reached 1.24 billion yuan in Q1 2025, up 22.77% from 1.01 billion yuan in Q1 2024 [1] - The return on equity (ROE) improved to 5.15% in Q1 2025, a 61.44% increase from 3.19% in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 28.8908 million shares, accounting for 34.91% of the circulating shares, with a change of 740,000 shares from the previous period [1] - Zhao Hongliang remains the largest shareholder with 858.31 million shares, representing 10.37% of total share capital [2] - New entrants to the top ten shareholders include Zhou Xingang and Kaiyuan Securities Co., Ltd., while Wu Yongqing and Li Ping have exited the list [2] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [3]