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]

1 漯河利通液压科技股份有限公司 2025 年第一季度报告 第一节 重要提示 证 券 简 称 证券代码 : 832225 公司董事、监事、高级管理人员保证本报告所载资料不存在虚假记载、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。 公司负责人赵洪亮、主管会计工作负责人杨国淦及会计机构负责人（会计主管人员）汪丹丹保证季 度报告中财务报告的真实、准确、完整。 本季度报告未经会计师事务所审计。 本季度报告涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺，投资者及相关人士均应 对此保持足够的风险认识，并且应当理解计划、预测与承诺之间的差异。 | 事项 | | 是或否 | | --- | --- | --- | | 是否存在公司董事、监事、高级管理人员对季度报告内容存在异议或无法保证其真实、 | □是 | √否 | | 准确、完整 | | | | 是否存在未出席董事会审议季度报告的董事 | □是 | √否 | | 是否存在未按要求披露的事项 | □是 | √否 | | 是否审计 | □是 | √否 | | 是否被出具非标准审计意见 | □是 | √否 | 2 第二节 公司基本情况 ...

会议的召开符合《公司法》等法律法规和《公司章程》《监事会议事规则》 中关于监事会召开的有关规定。 证券代码：832225 证券简称：利通科技 公告编号：2025-036 漯河利通液压科技股份有限公司 第四届监事会第十一次会议决议公告 本公司及监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 6.召开情况合法、合规、合章程性说明： 2.议案表决结果：同意 3 票；反对 0 票；弃权 0 票。 3.回避表决情况 无 （二）会议出席情况 会议应出席监事 3 人，出席和授权出席监事 3 人。 二、议案审议情况 （一）审议通过《关于<公司 2025 年第一季度报告>的议案》 1.议案内容： 公司 2025 年一季度报告的编制和审议程序符合法律、法规、《公司章程》和 公司内部管理制度的各项规定，报告的内容和格式真实、准确、完整，不存在虚 1.会议召开时间：2025 年 4 月 25 日 2.会议召开地点：公司会议室 3.会议召开方式：现场方式 4.发出监事会会议通知的时间和方式：2 ...

漯河利通液压科技股份有限公司 第四届董事会第十七次会议决议公告 证券代码：832225 证券简称：利通科技 公告编号：2025-035 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 4 月 25 日 2.会议召开地点：公司会议室 3.会议召开方式：现场与通讯相结合 4.发出董事会会议通知的时间和方式：2025 年 4 月 22 日以书面、通讯方式 发出 5.会议主持人：董事长赵洪亮先生 6.会议列席人员：监事、高级管理人员 7.召开情况合法、合规、合章程性说明： 会议的召开符合《公司法》等法律法规和《公司章程》《董事会议事规则》 中关于董事会召开的有关规定。 （二）会议出席情况 会议应出席董事 7 人，出席和授权出席董事 7 人。 董事赵永德、董治国因工作出差以通讯方式参与表决。 二、议案审议情况 （一）审议通过《关于<公司 2025 年第一季度报告>的议案》 1.议案内容： 公司 2025 年一季度报告的编制和审议程序符合法 ...