截至4月21日收盘，北交所全部公司总市值均值为29.16亿元，近一个月获调研的公司总市值平均值为 34.61亿元，获调研公司中市值居前的有民士达、华岭股份、富士达等。（数据宝） 按申万行业分类，获机构调研的北交所公司分属于10个行业，机械设备、电子、基础化工等行业较为集 中，分别有4家、4家、2家公司上榜。 机构调研次数来看，一致魔芋机构调研最为密集，共获机构5次调研。民士达、利通科技、朗鸿科技等 机构调研也较为密集，均被机构调研2次。 市场表现方面，获机构调研的北交所公司近一个月平均上涨18.31%。其间股价上涨的有13只，涨幅居 前的有一致魔芋、民士达、基康仪器等，分别上涨148.08%、87.63%、32.68%；从换手率来看，获调研 的北交所公司中，近一个月日均换手率平均值为7.71%，日均换手率居前的有中科美菱、民士达、国航 远洋等，日均换手率分别为16.91%、16.01%、15.15%。 根据调研日期截止日统计，近一个月（3月22日至4月21日），共有17家北交所公司获机构调研，其中， 民士达最受关注，参与调研的机构有139家。 证券时报·数据宝统计显示，近一个月共有17家北交所公司获机构调研， ...

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]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company's performance is under short-term pressure with a decline in revenue and profit, but there is an expectation for improvement with the launch of new products, particularly the API 17K marine oil cross-linked hose [2][4] - The overall revenue for 2024 is projected to be 484 million yuan, a slight decrease of 0.32% year-on-year, while the net profit attributable to the parent company is expected to be 107.21 million yuan, down 19.82% year-on-year [2] - The decline in revenue is primarily due to cyclical adjustments in the engineering machinery market and a transition of acid fracturing hoses from high growth to a stable phase [2] Financial Performance Summary - The total revenue for 2023 was 485.40 million yuan, with a year-on-year increase of 29.50%, while the projected revenue for 2024 is 483.84 million yuan [1] - The net profit attributable to the parent company for 2023 was 133.71 million yuan, with a year-on-year increase of 60.78%, while the projected net profit for 2024 is 107.21 million yuan [1] - The latest diluted EPS for 2023 was 1.05 yuan per share, with a projected EPS of 0.84 yuan for 2024 [1] Business Segment Performance - The hose assembly business remains stable, with revenue of 220 million yuan, a year-on-year increase of 2.85%, but the gross margin decreased by 8.62 percentage points to 57.05% [3] - The steel wire braided and spiral hoses experienced revenue declines of 7.85% and 9.76% respectively, with gross margins of 29.14% and 42.54% [3] - The fiber-reinforced rubber hoses and mixed rubber maintained good growth, with revenues of 21 million yuan and 19 million yuan, representing year-on-year increases of 17.53% and 9.8% respectively [3] Market Position and Future Outlook - The company has significant advantages in the rubber hose industry, with a focus on high-performance products and expanding into marine oil and gas drilling sectors [4] - The company is expected to benefit from the demand for oil extraction and the replacement of old hoses, with a projected increase in net profit to 210 million yuan by 2027 [4] - The company has adjusted its net profit forecasts for 2025 and 2026 to 138 million yuan and 173 million yuan respectively, reflecting a positive outlook for growth [4]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company's performance is under short-term pressure with a decline in revenue and profit, but there is an expectation for improvement in the API segment and the launch of new products [2][4] - The overall revenue for 2024 is projected to be 484 million yuan, a slight decrease of 0.32% year-on-year, while the net profit attributable to the parent company is expected to be 107 million yuan, down 19.82% year-on-year [2] - The decline in revenue is primarily due to cyclical adjustments in the engineering machinery market and a transition of the acid fracturing hose from high growth to a stable phase [2] - The company anticipates a significant improvement in Q4 2024, with a quarter-on-quarter increase in revenue and net profit due to increased procurement of acid fracturing hoses by clients [2] Summary by Sections Financial Performance - The company reported total revenue of 484 million yuan for 2024, with a year-on-year decrease of 0.32% - The net profit attributable to the parent company is projected at 107 million yuan, reflecting a year-on-year decline of 19.82% - The gross profit margin is expected to decrease by 4.58 percentage points to 43.26% [2][4] Business Segments - The hose assembly business remains stable, generating revenue of 220 million yuan, a year-on-year increase of 2.85%, but the gross margin decreased by 8.62 percentage points to 57.05% [3] - The steel wire braided and spiral hoses experienced revenue declines of 7.85% and 9.76%, respectively, due to the downturn in the engineering machinery sector [3] - The company is expanding into high-pressure industry chains and enhancing its service offerings in materials and equipment [4] Future Outlook - The company has raised its net profit forecasts for 2025 and 2026 to 138 million yuan and 173 million yuan, respectively, with an expected net profit of 210 million yuan for 2027 [4] - The projected P/E ratios for the upcoming years are 14.16 for 2025, 11.27 for 2026, and 9.27 for 2027, indicating a favorable valuation outlook [4]

Core Viewpoint - Lito Technology reported a revenue of 484 million yuan and a net profit attributable to shareholders of 107 million yuan for the year 2024, highlighting its strong performance in the rubber hose industry [1] Group 1: Company Overview - Lito Technology, established in 2003, specializes in various high, medium, and low-pressure rubber hoses, connectors, and hose assemblies, widely used in engineering machinery, coal mining machinery, agricultural machinery, chemical, and oil and gas drilling sectors [1] - The company has successfully replaced some high-performance imported products with its hydraulic hoses, serving clients such as SANY Heavy Industry, XCMG Group, and Baofus [1] - The "Super Hercules" series hydraulic rubber hoses are competitive with international leaders like Parker and Manuli, with products exported to Europe, North and South America, Southeast Asia, Russia, and Australia [1] Group 2: Product Development and Innovation - Lito Technology has achieved API 17K certification for its oil hoses, becoming one of the few companies globally to hold this certification, which lays the groundwork for expanding into the marine engineering hose market [1][2] - The company has a production capacity of 25,000 tons of polymer materials annually, supplying various types of rubber products to downstream clients [2] - The company is enhancing its fluid business segment by focusing on product quality improvement, production efficiency, and new product innovation, including the trial production of 43 types of nuclear power hoses [3] Group 3: New Business Initiatives - Lito Technology is actively involved in municipal underground pipeline management services, utilizing high-pressure water jet technology for non-excavation cleaning and blockage removal, which minimizes disruption to urban environments [4] - The company has successfully launched its first 300L high-pressure sterilization machine, marking a significant technological advancement and opening new market opportunities [3] - The strategic focus on municipal services and high-pressure food sterilization is expected to broaden the company's growth prospects amid stabilizing demand in the engineering machinery and oil drilling sectors [4]

漯河利通液压科技股份有限公司 2024 年度独立董事述职报告（董治国） 证券代码：832225 证券简称：利通科技 公告编号：2025-022 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。 本人董治国，作为漯河利通液压科技股份有限公司（以下简称"公司"）独 立董事，严格按照《公司法》《证券法》《上市公司独立董事管理办法》《北京证 券交易所上市公司持续监管指引第 1 号——独立董事》以及《公司章程》《独立 董事制度》等有关法律法规的规定和要求，认真履行独立董事职责，及时了解公 司的经营状况，积极出席公司召开的相关会议并认真审议各项议案，对公司重大 事项发表了独立意见，充分发挥了独立董事的作用，切实维护了公司和全体股东 尤其是社会公众股股东的合法权益。现将本人 2024 年履职情况报告如下： 二、出席董事会专门委员会、独立董事专门会议工作情况 2024 年度，作为主任委员共组织召开 4 次董事会审计委员会会议，作为委 员共参加 1 次董事会薪酬与考核委员会会议，作为独立董事共参加 2 次独立董事 专门会议 ...

证券代码：832225 证券简称：利通科技 公告编号：2025-023 漯河利通液压科技股份有限公司 2024 年度独立董事述职报告（赵贇） 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。 本人赵贇，作为漯河利通液压科技股份有限公司（以下简称"公司"）独立 董事，严格按照《公司法》《证券法》《上市公司独立董事管理办法》《北京证券 交易所上市公司持续监管指引第 1 号——独立董事》以及《公司章程》《独立董 事制度》等有关法律法规的规定和要求，认真履行独立董事职责，及时了解公司 的经营状况，积极出席公司召开的相关会议并认真审议各项议案，对公司重大事 项发表了独立意见，充分发挥了独立董事的作用，切实维护了公司和全体股东尤 其是社会公众股股东的合法权益。现将本人 2024 年履职情况报告如下： 二、出席董事会专门委员会、独立董事专门会议工作情况 2024 年度，作为委员共参加 4 次董事会审计委员会会议、1 次董事会薪酬与 考核委员会会议、1 次董事会战略委员会会议，作为独立董事共参加 2 次独立董 事专门会议 ...

证券代码：832225 证券简称：利通科技 公告编号：2025-021 漯河利通液压科技股份有限公司 2024 年度独立董事述职报告（赵永德） 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。 本人赵永德，作为漯河利通液压科技股份有限公司（以下简称"公司"）独 立董事，严格按照《公司法》《证券法》《上市公司独立董事管理办法》《北京证 券交易所上市公司持续监管指引第 1 号——独立董事》以及《公司章程》《独立 董事制度》等有关法律法规的规定和要求，认真履行独立董事职责，及时了解公 司的经营状况，积极出席公司召开的相关会议并认真审议各项议案，对公司重大 事项发表了独立意见，充分发挥了独立董事的作用，切实维护了公司和全体股东 尤其是社会公众股股东的合法权益。现将本人 2024 年履职情况报告如下： 二、出席董事会专门委员会、独立董事专门会议工作情况 2024 年度，作为主任委员共组织召开 1 次董事会薪酬与考核委员会会议， 作为委员共参加 4 次董事会审计委员会会议，作为独立董事共参加 2 次独立董事 专门会议 ...