Financial Performance - Net profit attributable to shareholders for Q1 2025 was CNY 35,641,008.17, representing an 86.13% increase year-over-year[8] - Operating revenue for Q1 2025 was CNY 124,263,536.83, up 23.14% from CNY 100,909,928.31 in the same period last year[8] - The gross profit margin for acid fracturing hose assemblies improved, contributing to a 90.41% increase in operating profit to CNY 42,605,061.86[10] - The company received government subsidies amounting to CNY 9,491,905.87, a significant increase of 633.78% year-over-year[10] - The weighted average return on equity based on net profit attributable to shareholders was 5.15%, up from 3.19% in the previous year[8] - Total operating revenue for Q1 2025 reached ¥124,263,536.83, an increase of 23.2% compared to ¥100,909,928.31 in Q1 2024[31] - Net profit for Q1 2025 was ¥40,545,745.35, up 113.5% from ¥18,983,229.81 in Q1 2024[36] - The company reported a total profit of ¥48,116,632.86 for Q1 2025, compared to ¥22,241,261.91 in Q1 2024, indicating strong financial performance[35] - The total comprehensive income for Q1 2025 was ¥40,545,745.35, compared to ¥18,983,229.81 in Q1 2024, showing robust growth[36] Assets and Liabilities - Total assets as of March 31, 2025, reached CNY 891,661,291.72, an increase of 0.76% compared to the end of 2024[8] - The total current assets as of March 31, 2025, amount to 438,793,002.83 yuan, showing a slight increase from 434,325,806.00 yuan at the end of 2024[24] - The total non-current assets as of March 31, 2025, are 452,868,288.89 yuan, compared to 450,589,369.06 yuan at the end of 2024[24] - The total current liabilities as of March 31, 2025, are 163,645,440.48 yuan, a decrease from 191,237,660.56 yuan at the end of 2024[25] - The total non-current liabilities are 19,080,903.80 yuan, down from 20,226,088.39 yuan at the end of 2024[25] - The total liabilities to assets ratio decreased to 20.49% from 23.90% year-over-year, indicating improved financial stability[8] Cash Flow - The company’s net cash flow from operating activities increased by 29.70% to CNY 30,212,485.42 compared to CNY 23,294,733.06 in Q1 2024[8] - Operating cash flow for Q1 2025 was CNY 34,796,592.62, an increase of 20.5% compared to CNY 28,921,593.11 in Q1 2024[39] - Cash inflows from operating activities totaled CNY 106,742,818.23 in Q1 2025, compared to CNY 88,245,506.43 in Q1 2024, reflecting a growth of 20.9%[39] - The company reported a net increase in cash and cash equivalents of CNY 3,309,341.03 for Q1 2025, compared to CNY 19,026,831.10 in Q1 2024[38] - Total cash and cash equivalents at the end of Q1 2025 reached CNY 126,339,691.35, up from CNY 65,731,827.13 in Q1 2024, representing a 92% increase[38] Shareholder Information - The total number of shares held by the top ten shareholders is 73,027,601, representing 57.53% of the total shares[17] - Zhao Hongliang and Liu Xueping, the top two shareholders, hold 27.05% and 18.73% of the shares respectively, with no changes in their holdings[17] - The company has no pledged or judicially frozen shares among the top ten shareholders[18] Expenses - Management expenses increased by 51.12% to CNY 10,085,629.33, primarily due to operational costs in new business segments[10] - Total operating costs for Q1 2025 were ¥90,764,537.20, up from ¥80,344,303.32 in Q1 2024, reflecting a growth of 12.0%[31] - Research and development expenses for Q1 2025 were ¥5,964,472.80, compared to ¥5,146,129.94 in Q1 2024, reflecting an increase of 15.9%[31] Other Financial Metrics - Non-recurring gains and losses for the period totaled CNY 9,781,769.27, with a net amount of CNY 8,341,607.00 after tax effects[12] - The company incurred credit impairment losses of ¥1,031,090.83 in Q1 2025, up from ¥962,093.45 in Q1 2024[35] - The company’s other income for Q1 2025 was ¥9,489,656.31, significantly higher than ¥1,293,159.50 in Q1 2024, indicating improved operational efficiency[35]

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 ...

证券代码：832225 证券简称：利通科技 公告编号：2025-033 漯河利通液压科技股份有限公司 2024 年年度报告业绩说明会预告公告 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、 说明会类型 漯河利通液压科技股份有限公司（以下简称"公司"）《2024 年年度报告》（公 告编号：2025-010）已于 2025 年 4 月 14 日在北京证券交易所网站（www.bse.cn） 披露，为方便广大投资者更深入了解公司 2024 年年度经营业绩的具体情况，加 强与投资者的互动交流，公司拟召开 2024 年年度报告业绩说明会。 本次年度报告业绩说明会将采用网络远程的方式召开，投资者可登录全景网 "投资者关系互动平台"（https://ir.p5w.net）参与本次年度报告业绩说明会。 三、 参加人员 公司董事长兼总经理：赵洪亮先生 公司董事会秘书：何军先生 公司财务负责人：杨国淦先生 民生证券保荐代表人：张键先生 四、 投资者参加方式 本次说明会采用网络方式召开。 为充分尊重投资者、提升交流的针对 ...

Group 1 - In the past month (from March 23 to April 22), 18 companies listed on the Beijing Stock Exchange (BSE) were investigated by institutions, with Minshida being the most notable, receiving attention from 139 institutions [1] - The types of institutions conducting the research included 17 brokerages, 14 funds, 13 private equity firms, 10 insurance companies, and 2 overseas institutions [1] - The companies that received the most institutional attention were Minshida, Yizhi Moyu, Litong Technology, and Audiwei, with 139, 137, 77, and 65 institutions participating in their investigations, respectively [1] Group 2 - The average stock price of the companies investigated by institutions increased by 16.14% over the past month, with notable increases from Yizhi Moyu (154.56%), Minshida (74.82%), and Jikang Instruments (28.51%) [2] - The average daily turnover rate for the investigated companies was 7.51%, with the highest rates recorded for Zhongke Meiling (17.38%), Minshida (16.18%), and Guohang Yuanyang (15.31%) [2] - As of April 22, the average market capitalization of all companies on the BSE was 2.89 billion yuan, while the average market capitalization of the investigated companies was 3.30 billion yuan, with Hualing Co., Minshida, and Fujida leading in market value [2]

Group 1 - In the past month (from March 22 to April 21), 17 companies listed on the Beijing Stock Exchange (BSE) received institutional research, with Minshida being the most notable, attracting 139 participating institutions [1] - The types of institutions conducting research include 16 brokerages, 13 funds, 12 private equity firms, 9 insurance companies, and 2 overseas institutions [1] - The companies that received the most attention were Minshida, Yizhi Moyu, Litong Technology, and Audiwei, with 139, 124, 77, and 65 participating institutions respectively [1] Group 2 - The average stock price of the companies that received institutional research increased by 18.31% over the past month, with notable gainers including Yizhi Moyu (up 148.08%), Minshida (up 87.63%), and Jikang Instruments (up 32.68%) [2] - The average daily turnover rate for the researched companies was 7.71%, with the highest rates recorded for Zhongke Meiling (16.91%), Minshida (16.01%), and Guohang Yuanyang (15.15%) [2] - As of April 21, the average market capitalization of all companies on the BSE was 2.916 billion yuan, while the average market capitalization of the researched companies was 3.461 billion yuan, with Minshida, Hualing Co., and Fujida leading in market value [2]

民生证券股份有限公司 关于漯河利通液压科技股份有限公司 向不特定合格投资者公开发行股票之保荐工作总结报告书 经中国证券监督管理委员会《关于核准漯河利通液压科技股份有限公司向不 特定合格投资者公开发行股票的批复》（证监许可〔2021〕184 号），漯河利通液 压科技股份有限公司（以下简称"利通科技"、"发行人"或"公司"）获准向不 特定合格投资者公开发行新股不超过 1,733.3334 万股（含行使超额配售选择权所 发新股）。公司于 2021 年 3 月 26 日完成公开发行新股事宜（含超额配售选择权 的实施），共计发行新股 15,798,555 股，发行价格为 6.60 元/股。本次公开发行募 集资金总金额为人民币 10,427.05 万元，扣除发行费用（不含税）金额为 1,160.43 万元，募集资金净额为 9,266.62 万元。本次发行证券已于 2021 年 2 月 25 日在全 国中小企业股份转让系统精选层挂牌（北京证券交易所成立后于 2021 年 11 月 15 日平移至北京证券交易所上市交易）。民生证券股份有限公司（以下简称"保 荐机构"或"民生证券"）担任其持续督导保荐机构，持续督导期间为 20 ...

Investment Rating - The report maintains an "Accumulate" investment rating for the company, indicating a potential increase of 5% to 15% relative to the CSI 300 index over the next six months [18]. Core Views - The company reported a slight decline in revenue and profitability for 2024, with total revenue of 483 million yuan, down 0.32% year-on-year, and a net profit of 107 million yuan, down 19.82% year-on-year [5]. - Despite the short-term pressure on performance, the company is expected to benefit from a recovery in downstream demand, particularly in the engineering machinery sector, which has shown signs of improvement [5][7]. - The company is actively innovating and expanding into new business areas, such as oil drilling hoses, which are anticipated to provide significant growth potential in the future [5]. Summary by Sections Financial Performance - In 2024, the company achieved a gross margin of 43.26%, a decrease of 4.58 percentage points year-on-year, and a net profit margin of 22.16%, down 5.39 percentage points year-on-year [5]. - The main revenue sources were the assembly hoses and associated fittings, generating 220 million yuan and 137 million yuan, respectively, with year-on-year growth of 2.85% and a decline of 7.85% [5]. - The company’s earnings per share (EPS) for 2024 was 0.84 yuan, with projections of 0.99 yuan and 1.16 yuan for 2025 and 2026, respectively [5]. Market Outlook - The engineering machinery sector is expected to continue its recovery, with excavator sales in China increasing by 27.2% year-on-year in early 2025 [5][7]. - The company is focusing on high-end products and technological innovations, which are likely to enhance its competitive position in the market [5]. Growth Potential - The company is making strides in new business areas, particularly in oil drilling hoses, with successful product innovations and custom designs that meet client needs [5]. - The report highlights the company's commitment to continuous product improvement and innovation, which is expected to drive future growth [5].

Investment Rating - The report maintains an "Accumulate" investment rating for the company, indicating a potential increase of 5% to 15% relative to the CSI 300 index over the next six months [18]. Core Views - The company reported a slight decline in revenue and profitability for 2024, with total revenue of 483 million yuan, down 0.32% year-on-year, and a net profit of 107 million yuan, down 19.82% year-on-year [5]. - Despite the short-term pressure on performance, the company is expected to benefit from a recovery in downstream demand, particularly in the engineering machinery sector, which has shown signs of improvement [5][7]. - The company is actively innovating and expanding into new business areas, such as oil drilling hoses, which are anticipated to provide significant growth potential in the future [5]. Summary by Sections Financial Performance - In 2024, the company achieved a gross margin of 43.26%, a decrease of 4.58 percentage points year-on-year, and a net profit margin of 22.16%, down 5.39 percentage points year-on-year [5]. - The main revenue sources were the assembly hoses and associated fittings, generating 220 million yuan and 137 million yuan, respectively, with year-on-year growth of 2.85% and a decline of 7.85% [5]. Market Outlook - The engineering machinery industry in China has ended a three-year downturn, with a 4.5% increase in sales of key products in 2024, indicating a potential recovery in demand for the company's products [5][7]. - The company’s traditional products are primarily used in engineering machinery, agricultural machinery, and mining machinery, which are expected to see continued demand growth [5]. New Business Development - The company has made significant advancements in its oil drilling hose business, particularly with the development of high-pressure, long-length acid fracturing hoses, which have been successfully tested and accepted by clients [5]. - The company is also focusing on the domestic production of nuclear power hoses, with 43 types successfully trialed and meeting performance requirements [5].

Group 1: Investor Relations Activity - The investor relations activity took place from April 15 to April 17, 2025, in an online meeting format [3] - Attendees included various securities firms and investment funds, such as Morgan Stanley Fund and CITIC Securities [4] Group 2: Company Performance and Growth - The company reported a significant increase in Q4 2024 performance due to bulk purchases from a major international client and increased orders from existing customers [4] - The overall gross margin decreased in 2024 due to a decline in high-margin product sales, which affected the overall revenue composition [5] Group 3: Market Strategies and Product Development - The company is focusing on developing high-value products for offshore applications, particularly in the acid fracturing hose market [5] - Plans to expand into diverse markets and strengthen domestic market presence to mitigate risks from international trade policy fluctuations [6][7] Group 4: Product Lines and Innovations - The company has made progress in developing the API 17K series products, with production line design nearing completion and expected to be operational in 2025 [9] - The company has successfully completed trials for 43 types of nuclear power hoses, with plans for domestic production to replace imports [11] Group 5: Risk Management and Future Outlook - The company is actively monitoring international trade policies and maintaining communication with clients to mitigate potential impacts [6] - Investors are advised to be cautious due to uncertainties in new product development and market expansion [9][15]