证券代码：832225 证券简称：利通科技 公告编号：2025-092 漯河利通液压科技股份有限公司 职工代表董事任命公告 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、董事任命的基本情况 漯河利通液压科技股份有限公司 2025 年第二次职工代表大会决议 漯河利通液压科技股份有限公司 漯河利通液压科技股份有限公司（以下简称"公司"）于 2025 年 9 月 10 日召开 2025 年第二次职工代表大会，审议通过《关于选举漯河利通液压科技股份有限公司第四届董 事会职工代表董事》的议案。 选举曹大伟先生为公司职工代表董事，任职期限至第四届董事会届满为止，自 2025 年 9 月 10 日起生效。该人员持有公司股份 0 股，占公司股本的 0%，不是失信联合惩戒 对象。 （上述人员简历详见附件） 二、合规性说明及影响 （一）人员变动的合规性说明 本次任命未导致公司董事会成员人数低于法定最低人数，未导致公司董事会中兼任 高级管理人员的董事和由职工代表担任的董事人数总计超过公司董事总数的二分之一， 未导致董事会 ...

证券代码：832225 证券简称：利通科技 公告编号：2025-091 漯河利通液压科技股份有限公司 2025 年第二次职工代表大会决议公告 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 1.议案内容： 为进一步完善公司治理结构，根据《公司法》及《公司章程》相关规定，公 司将不再设置监事会和监事，故免去范瑞芳职工代表监事职务，并将在董事会中 设置一名职工代表董事，现选举曹大伟为公司第四届董事会职工代表董事，任期 自本次职工代表大会选举通过之日起至第四届董事会任期届满之日止。 （一） 会议召开情况 1. 会议召开时间：2025 年 9 月 10 日 2. 会议召开地点：公司会议室 3. 会议召开方式：现场方式召开 4. 会议主持人：工会主席谢恒起先生 5. 召开情况合法、合规、合章程性说明： 2.议案表决结果：同意 70 票；反对 0 票；弃权 0 票。 3.回避表决情况： 无 会议召开符合《公司法》等有关法律、法规及《公司章程》的规定，表决结 果合法有效。 （二）会议出席情况 ...

证券代码：832225 证券简称：利通科技 公告编号：2025-087 漯河利通液压科技股份有限公司 2025 年第一次临时股东会决议公告 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 9 月 10 日 2.会议召开地点：公司三楼会议室 （三）公司董事、监事、高级管理人员出席或列席股东会情况 3.会议召开方式：现场投票与网络投票相结合 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 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 61,446,070 股，占公司有表决权股份总数的 48.41%。 其中通过网络投票参与本次股东会的股东共 2 人，持有表决权的股份总数 65,243 股，占公司有表决权股份总数的 0.05%。 1.公司在任董事 7 人，出席 7 ...

中国·北京 2025 年第一次临时股东会的 法律意见书 海润天睿律师事务所 HAI RUN LAW FIRM 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 北京市朝阳区建外大街甲14号广播大厦5/9/10/13/17层，邮政编码：100022 电话(Tel):86-10-62159696 二〇二五年九月 法律意见书 关于本法律意见书，本所及本所律师谨作如下声明： !"#$%&'()*+ ,-./0123456789:; 2025 <=>?@A6BCDE'FGH 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 2025 年第一次临时股东会（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。 （1）在本法律 ...

Market Overview - The rubber sector experienced a decline of 0.34% on September 10, with Sanwei Equipment leading the drop [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] Stock Performance - Notable gainers in the rubber sector included: - Kexin New Source (300731) with a closing price of 45.01, up 4.38% and a trading volume of 136,100 shares, totaling 613 million yuan [1] - Tiantian Technology (300587) closed at 8.96, up 2.28% with a trading volume of 422,500 shares, totaling 376 million yuan [1] - Significant decliners included: - Sanwei Equipment (831834) which closed at 15.79, down 7.93% with a trading volume of 70,100 shares, totaling 113 million yuan [2] - Quancheng Shares (605183) closed at 20.55, down 3.20% with a trading volume of 29,600 shares, totaling 61.52 million yuan [2] Capital Flow - The rubber sector saw a net inflow of 13.648 million yuan from institutional investors, while retail investors contributed a net inflow of 56.306 million yuan [2] - However, speculative funds experienced a net outflow of 69.9536 million yuan [2] Individual Stock Capital Flow - Kexin New Source (300731) had a net inflow of 49.3875 million yuan from institutional investors, while it faced a net outflow of 23.2366 million yuan from speculative funds [3] - Sanwei Shares (603033) recorded a net inflow of 10.5857 million yuan from institutional investors, with a net outflow of 9.2531 million yuan from speculative funds [3] - Other notable stocks included: - Lian Ke Technology (001207) with a net inflow of 9.0254 million yuan from institutional investors [3] - Shuangjian Shares (002381) faced a net outflow of 1.8029 million yuan from institutional investors [3]

Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a forecasted stock performance that is expected to exceed the market index by 5% to 15% over the next six months [6]. Core Insights - In the first half of 2025, the company achieved operating revenue of 237 million, representing a year-on-year growth of 7.29%. The net profit attributable to shareholders was 53 million, up 13.87% year-on-year [1]. - The second quarter of 2025 saw a decline in performance, with operating revenue of 113 million, down 6.03% year-on-year and 8.87% quarter-on-quarter. The net profit for Q2 was 17 million, reflecting a significant decrease of 37.15% year-on-year and 52.78% quarter-on-quarter, primarily due to a reduction in international business orders [4]. - The company's gross margin for the first half of 2025 was 41.90%, an increase of 1.19 percentage points compared to the same period last year [4]. - All major product lines reported positive revenue growth in the first half of 2025, with specific increases in sales for various types of hoses [4]. - The company is actively expanding its new product market, particularly in the high-pressure sterilization equipment sector, with new orders from the juice and beverage industry [4]. Financial Forecast - The company is projected to achieve earnings per share of 1.00 yuan and 1.12 yuan for 2025 and 2026, respectively, with corresponding price-to-earnings ratios of 24 times and 21 times [5]. - Revenue forecasts for the upcoming years are as follows: 556 million for 2025, 645 million for 2026, and 755 million for 2027 [5].

证券代码：832225 证券简称：利通科技 公告编号：2025-086 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 8 月 26 日至 2025 年 8 月 27 日 活动地点：线上会议 参会单位及人员：华源证券、开源证券、天弘基金管理有限公司、中信建投 基金管理有限公司、深圳中天汇富基金管理有限公司、中国人寿资产管理有限公 司、第一创业证券、长江证券、民生证券、上海颐歌资产管理有限公司、富德生 命人寿保险股份有限公司、张家港高竹私募基金管理有限公司、上海临信资产管 理有限公司、深圳市尚诚资产管理有限责任公司、国泰海通证券、西部证券、联 储证券、平安证券、渤海证券、浙商证券、北信瑞丰基金管理有限公司、九泰基 金管理有限公司、光大保德信基金管理有限公司、朝景投资管理有限公司、 ...

New Consumption - The company achieved total operating revenue of 1.769 billion yuan in H1 2025, a year-on-year increase of 30.83% [2][8] - The total profit reached 241 million yuan, up 7.17% year-on-year, while the net profit attributable to shareholders was 186 million yuan, reflecting a growth of 5.21% [2][10] - The main brand, Marubi, maintained its position as the "No. 1 domestic brand in eye care" and the PL brand won the "Most Influential Makeup and Fragrance Brand" award [2][9] Machinery/Building Materials - The company reported operating revenue of 161 million yuan in H1 2025, a significant increase of 51.66% year-on-year, with a net profit of 23 million yuan, up 199.23% [12][15] - The balance machine business showed steady growth, while automation equipment and software information systems contributed significantly to performance [13][15] - The company is recognized as a leader in domestic balance machines, with new orders expected to increase as the company expands into high-end equipment manufacturing markets [15] Transportation - The company achieved approximately 766 million yuan in revenue in H1 2025, a decrease of 8.57% year-on-year, while the net profit was approximately 532 million yuan, an increase of 20.51% [16][17] - The main business of highways remains stable, with a significant increase in net profit in Q2 2025 due to the recovery of previously provisioned losses [16][17] - The company plans to distribute a cash dividend of 0.15 yuan per share, indicating a commitment to shareholder returns [16][18] North Exchange - The company reported revenue of 237 million yuan in H1 2025, a year-on-year increase of 7%, with a net profit of 52.68 million yuan, up 14% [20][21] - The domestic revenue grew by 31%, while overseas revenue faced challenges [21] - The company is actively developing new products in nuclear power and data center sectors, which are expected to drive future growth [21][22] Hydraulic Industry - The company achieved revenue of 344 million yuan in H1 2025, a year-on-year increase of 13%, with a net profit of 67.32 million yuan, up 40% [31][32] - The growth was driven by strong demand for dump truck cylinders and oil-gas springs, with significant improvements in gross margins [32][33] - The company is expanding into new fields such as autonomous driving and industrial robotics, indicating a strategic shift towards innovative applications [34][35]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company achieved a year-on-year revenue growth of 30% in domestic income for the first half of 2025, driven by its research and development efforts in the nuclear power, data center, and offshore engineering sectors, which are expected to promote domestic substitution [5][8] - The company reported a revenue of 237 million yuan in H1 2025, representing a 7% year-on-year increase, and a net profit attributable to shareholders of 52.68 million yuan, up 14% year-on-year [8] - The company is focusing on new fields such as nuclear power hoses and data center liquid cooling hoses, which are anticipated to provide new growth momentum [8] Financial Performance Summary - For 2023, the company is projected to have a revenue of 485 million yuan, with a year-on-year growth rate of 29.5%. The net profit attributable to shareholders is expected to be 134 million yuan, reflecting a 60.78% year-on-year increase [7] - The company forecasts revenues of 555 million yuan in 2025, with a net profit of 122 million yuan, indicating a 13.93% year-on-year growth [7] - The earnings per share (EPS) is projected to be 0.96 yuan in 2025, with a price-to-earnings (P/E) ratio of 28.37 [7] Business Segments and Growth Drivers - The company's fluid segment has seen steady growth, with total revenue from hose assemblies and supporting pipe fittings increasing by 8% year-on-year in H1 2025 [8] - The company has made significant progress in the R&D of high-pressure hoses and has been included in the first-level supplier system of China National Petroleum Corporation, which may unlock growth potential in high-pressure drilling hoses [8] - The company is actively exploring diversified business models in its high-pressure equipment segment, aiming to reduce customer usage thresholds and expand applications across various industries [8]

Investment Rating - The investment rating for the company is "Outperform" (maintained) [3] Core Views - The company achieved a revenue of 237 million yuan in H1 2025, representing a year-on-year growth of 7.29%, and a net profit attributable to the parent company of 53 million yuan, up 13.87% year-on-year [3] - The company is actively expanding its product offerings in high-pressure equipment, data center liquid cooling hoses, and nuclear power hoses, which are expected to drive future growth [3][4] - The company has been included in the first-level supplier system of China National Petroleum Corporation, which is expected to enhance its market presence [3] Financial Summary - Revenue projections for 2025-2027 are adjusted to 113 million yuan (previously 122 million yuan), 138 million yuan (previously 147 million yuan), and 164 million yuan (previously 175 million yuan) respectively, with corresponding EPS of 0.89, 1.09, and 1.29 yuan per share [3][6] - The company’s total market capitalization is 3.202 billion yuan, with a circulating market capitalization of 2.089 billion yuan [3] - The company’s gross profit margin is projected to be 41.6% in 2025, with a net profit margin of 22.3% [6][8]