4月24日，远航精密（833914.BJ）披露2024年年度报告及2025年第一季度报告。2024年，公司实现营业 总收入8.52亿元，同比增长5.25%；归母净利润6744.28万元，同比增长113.37%；扣非净利润5454.54万 元，同比增长143.07%。公司拟每10股派现1元（含税）。2025年第一季度，公司营业收入为2.16亿元， 同比上升25.8%；归母净利润为1636万元，同比上升36.7%；扣非归母净利润为1562万元，同比上升 81.6%。 远航精密在镍基导体材料领域的技术优势和行业积累使其在市场中占据主导地位。公司专注于高精度镍 带、箔产品及精密结构件的研发，并凭借一站式的供应体系，产品广泛应用于新能源汽车、电池储能、 消费电子、电动工具、电动二轮车、航空航天、金属纪念币等多个高增长行业。 技术创新是公司核心竞争力的源泉。2024年，公司不断推动精密镍导体材料的技术突破，持续提升产品 性能，并增强了在高端应用领域的市场占有率。报告期内，公司共拥有发明专利及实用新型专利89项， 其中发明专利12项。 公告显示，公司产品广泛应用于锂电池及二次电池领域。随着电池技术的持续创新，新能源汽车、储 ...

证券研究报告·公司点评报告·电池 远航精密（833914） 2024 年报点评：24 年盈利修复业绩高增，25 年多业务高增可期 增持（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 809.67 | 852.18 | 1,148.20 | 1,396.36 | 1,854.10 | | 同比（%） | (10.59) | 5.25 | 34.74 | 21.61 | 32.78 | | 归母净利润（百万元） | 31.61 | 67.44 | 80.93 | 105.30 | 132.88 | | 同比（%） | (40.87) | 113.37 | 20.00 | 30.12 | 26.19 | | EPS-最新摊薄（元/股） | 0.32 | 0.67 | 0.81 | 1.05 | 1.33 | | P/E（现价&最新摊薄） | 66.57 | 31.20 | 26.00 | 19.98 | 15.83 | [ ...

Financial Performance - The company's operating revenue for 2024 reached ¥852,178,999.57, representing a 5.25% increase compared to ¥809,673,067.84 in 2023[25]. - The net profit attributable to shareholders increased by 113.37% to ¥67,442,783.31 from ¥31,607,656.97 in the previous year[25]. - The gross profit margin improved to 15.83% in 2024, up from 10.42% in 2023[25]. - Total assets increased by 18.10% to ¥1,161,352,988.10, compared to ¥983,325,707.99 at the end of 2023[26]. - Total liabilities surged by 102.45% to ¥246,975,252.96 from ¥121,994,402.57 in 2023[26]. - The weighted average return on equity based on net profit attributable to shareholders rose to 7.60% from 3.67% in the previous year[25]. - The company reported a net cash flow from operating activities of ¥21,824,846.00, a significant recovery from a negative cash flow of ¥24,552,480.50 in 2023[26]. - The company’s basic earnings per share increased by 112.50% to ¥0.68 from ¥0.32 in 2023[25]. - The company achieved operating revenue of 852.18 million yuan, a year-on-year increase of 5.25%[45]. - The net profit attributable to shareholders reached 67.44 million yuan, representing a year-on-year growth of 113.37%[45]. - The net cash flow from operating activities was 21.82 million yuan, up 188.89% year-on-year[45]. - The company reported a substantial increase in processing revenue by 234.22%, driven by higher customer demand[88]. - The company’s net profit for 2024 was approximately ¥67.31 million, a significant increase of 112.96% from ¥31.61 million in 2023[74]. Shareholder Information - The company completed the 2023 annual equity distribution, distributing a total of RMB 9,900,000 based on 99,000,000 shares at a rate of RMB 1.00 per 10 shares[3]. - The company has no preferred shares outstanding[20]. - The company has a total of 100 million shares outstanding, with 60.20% held by the controlling shareholder and 39.80% as limited sale shares[160]. - The largest shareholder, Jiangsu Yuanhang Times Holdings, holds 37,695,350 shares, representing 37.6954% of total shares[161]. - The company has not proposed any changes to the cash dividend policy during the reporting period[182]. - The company reported positive undistributed profits during the reporting period, confirming the feasibility of the cash dividend distribution[185]. Research and Development - The company focuses on the R&D, production, and sales of precision nickel-based conductor materials and precision structural components[19]. - The company continues to focus on the R&D and production of precision nickel-based conductor materials for various applications, including lithium batteries and consumer electronics[37]. - The company has a total of 89 patents, including 12 invention patents[47]. - Research and development expenses remained stable at approximately ¥29.70 million, accounting for 3.49% of total revenue[74]. - The company has ongoing R&D projects focused on new technologies for battery modules and energy storage systems, which are expected to positively impact future operations[112]. - The company is enhancing its research and development capabilities to accelerate new project development and improve overall R&D levels[131]. - The total number of employees increased from 488 to 553, representing a growth of approximately 13.33%[196]. - The production team expanded by 46 employees, while the technical team added 17 employees, enhancing the company's talent structure[196]. Market Position and Strategy - The company is well-positioned to benefit from the increasing demand for precision nickel-based conductor materials in various applications, including electric vehicles and energy storage systems[57]. - The company is expanding its product applications into new areas such as flying cars and AI personal computers, indicating a broadening of its market scope[50]. - The company aims to expand its market share by providing a one-stop supply system from materials to finished products through its wholly-owned subsidiary, Jin Tai Ke[135]. - The company has identified risks related to market competition and plans to strengthen its R&D capabilities and customer relationship management to mitigate these risks[135]. - The company is focusing on diversifying product application scenarios, particularly in emerging fields such as low-altitude aircraft and smart robots[127]. Financial Health and Risks - There is no risk of delisting for the company[11]. - The company is facing uncertainty due to fluctuations in the price of electrolytic nickel, which is influenced by geopolitical and macroeconomic factors[132]. - The company has implemented a pricing strategy for its nickel products based on "raw material cost + processing fee" to mitigate the impact of raw material price volatility[133]. - The company has ongoing litigation with a cumulative amount of 4.70 million yuan, representing 0.51% of the net assets at the end of the period[140]. - The company has provided guarantees totaling 20 million yuan to financial institutions, with no outstanding balance as of the reporting date[143]. Corporate Governance - The board of directors consists of 7 members, while the supervisory board has 3 members, and there are 6 senior management personnel[190]. - The company has a stock option plan with a total of 697,500 shares available for key employees, with an exercise price of 5.15 yuan per share and a report period end market price of 16.02 yuan per share[194]. - The company has no changes in the chairman, general manager, or financial director during the reporting period[191]. - The company’s independent directors and supervisors have no significant changes during the reporting period[191]. Social Responsibility - The company donated 50,000 yuan to the Yixing Charity Association to support social charity initiatives[123]. - The company has established a multi-dimensional employee protection system, including basic salary, skill allowances, special subsidies, and performance bonuses[198]. - The company covers five major social insurances and housing provident fund, along with a supplementary major illness insurance system[198]. - The company employs a dual-driven model of "humanistic care + career development" to build harmonious labor relations[199].

Financial Performance - Net profit attributable to shareholders rose by 36.71% to CNY 16,360,474.58 for the first quarter of 2025, up from CNY 11,967,392.03 in the same period last year[10] - Operating revenue for the first quarter of 2025 reached CNY 216,176,983.11, reflecting a 25.77% increase from CNY 171,884,028.62 in the previous year[10] - Operating profit for Q1 2025 was CNY 18,514,396.98, compared to CNY 10,544,310.41 in Q1 2024, indicating a significant increase of about 75.5%[36] - Net profit for Q1 2025 amounted to CNY 16,205,723.55, up from CNY 11,967,392.03 in Q1 2024, reflecting a growth of approximately 35.0%[36] - Total revenue for Q1 2025 reached CNY 216,176,983.11, an increase from CNY 171,884,028.62 in Q1 2024, representing a growth of approximately 25.7%[35] - The basic and diluted earnings per share for Q1 2025 were both CNY 0.17, up from CNY 0.12 in Q1 2024, reflecting an increase of approximately 41.7%[37] Assets and Liabilities - Total assets increased by 4.34% to CNY 1,211,732,038.42 as of March 31, 2025, compared to CNY 1,161,352,988.10 at the end of 2024[10] - Total liabilities reached ¥280,648,560.01, compared to ¥246,975,252.96, showing an increase of approximately 13.6%[31] - Total liabilities rose to CNY 180,152,757.75 in 2025, compared to CNY 128,462,889.96 in 2024, which is an increase of approximately 40.3%[34] - The total liabilities to assets ratio for the consolidated entity was 23.16%, up from 21.27% at the end of the previous year[10] - Current assets totaled ¥877,620,269.35 as of March 31, 2025, an increase from ¥840,198,732.94 on December 31, 2024, representing a growth of approximately 4.99%[29] Cash Flow - The company's cash flow from operating activities showed a significant decline of 628.31%, resulting in a net outflow of CNY 79,725,865.80, compared to a net inflow of CNY 15,090,850.80 in the same period last year[10][13] - Cash flow from operating activities in Q1 2025 showed a net outflow of ¥79.73 million, compared to a net inflow of ¥15.09 million in Q1 2024[41] - Cash flow from investment activities in Q1 2025 was a net inflow of ¥45.74 million, compared to ¥13.08 million in Q1 2024[41] - Cash flow from financing activities in Q1 2025 generated a net inflow of ¥56.81 million, down from ¥61.88 million in Q1 2024[41] Shareholder Information - The total number of ordinary shares is 100,000,000, with 100% being unrestricted shares[17] - The largest shareholder, Jiangsu Yuanhang Times Holding Group, holds 39,024,983 shares, representing 39.025% of total shares[18] - The second largest shareholder, Yixing City Taodu Asset Management, holds 3,080,267 shares, representing 3.0803% of total shares[18] - The total number of ordinary shareholders is 8,604[17] Expenses - The company reported a 70.52% increase in selling expenses, totaling CNY 2,104,310.12, as part of its business expansion efforts[12] - Research and development expenses for Q1 2025 were CNY 7,514,790.24, compared to CNY 6,787,048.77 in Q1 2024, showing an increase of about 10.7%[35] - The company reported a significant increase in sales expenses, which rose to ¥1.27 million in Q1 2025 from ¥0.75 million in Q1 2024[38] Other Financial Metrics - The weighted average return on equity based on net profit attributable to shareholders increased to 1.78% from 1.38% year-on-year[10] - Non-recurring gains and losses amounted to CNY 740,145.24 after tax, contributing positively to the net profit[15] - Total equity attributable to shareholders was ¥929,368,120.23, up from ¥913,507,625.93, indicating a growth of approximately 1.9%[31] - The company has implemented a stock option incentive plan, granting 1,330,000 stock options at a price of 5.15 yuan per share[24] Future Outlook - Future outlook includes plans for market expansion and potential acquisitions to enhance growth and competitiveness[32]

一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.6800 | 0.3200 | 112.5 | 0.6900 | | 每股净资产（元） | 9.14 | 8.61 | 6.16 | 8.67 | | 每股公积金(元) | 3.78 | 3.77 | 0.27 | 3.76 | | 每股未分配利润(元) | 3.91 | 3.38 | 15.68 | 3.28 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 8.52 | 8.1 | 5.19 | 9.06 | | 净利润(亿元) | 0.67 | 0.32 | 109.38 | 0.53 | | 净资产收益率(%) | 7.60 | 3.67 | 107.08 | 10.60 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 4981.97万股，累计占流通股比： 49.83%，较上期变化 ...

国金证券股份有限公司 关于江苏远航精密合金科技股份有限公司 2024 年度募集资金存放与实际使用情况的专项核查报告 国金证券股份有限公司（以下简称"国金证券"或"保荐机构"）作为江苏 远航精密合金科技股份有限公司（以下简称"远航精密"或"公司"）向不特定 合格投资者公开发行股票并在北京证券交易所上市的保荐机构，根据《北京证券 交易所证券发行上市保荐业务管理细则》《北京证券交易所股票上市规则（试行）》 等相关法律法规的规定，对远航精密 2024 年度募集资金存放与使用情况进行了 核查，具体情况如下： 一、募集资金基本情况 （一）实际募集资金金额及资金到位时间 公司于 2022 年 10 月 18 日收到中国证券监督管理委员会下发的《关于同 意江苏远航精密合金科技股份有限公司向不特定合格投资者公开发行股票注册 的批复》（证监许可〔2022〕2502 号），同意公司向不特定合格投资者公开发 行不超过 2,500.00 万股新股（未考虑行使超额配售选择权情况下）的注册申请。 公司于 2022 年 10 月，公开发行人民币普通股股票 2,500 万股，每股发行价 格为人民币 16.20 元，募集资金总额人民币 405, ...

证券代码：833914 证券简称：远航精密 公告编号：2025-053 江苏远航精密合金科技股份有限公司 董事会对独立董事独立性情况的专项意见 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。 根据中国证券监督管理委员会《上市公司独立董事管理办法》等相关规定，江苏 远航精密合金科技股份有限公司（以下简称"公司"）董事会就公司在任独立董事李自 洪、薛文东、李慈强的独立性情况进行评估并出具了专项意见。根据独立董事向董事 会提供的关于独立性情况的自查报告，结合其他相关资料，董事会就独立董事的独立 性形成如下结论： （一）独立董事及其配偶、父母、子女、具有主要社会关系的人员未在公司或公 司附属企业任职； （二）独立董事及其配偶、父母、子女未直接或间接持有公司已发行股份百分之 一以上，不是公司前十名股东中的自然人股东； （四）独立董事及其配偶、父母、子女未在公司控股股东、实际控制人的附属企 业任职； （五）独立董事不是公司及公司控股股东、实际控制人或者其各自的附属企业有 重大业务往来的人员，未在有重大业务往来的单位 ...

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。 江苏远航精密合金科技股份有限公司（以下简称"公司"）聘请容诚会计师事务所 （特殊普通合伙）（以下简称"容诚会计师事务所"）作为公司 2024 年年度审计机构。 根据财政部及证监会颁布的《国有企业、上市公司选聘会计师事务所管理办法》的要 求，公司董事会及其审计委员会对容诚会计师事务所 2024 年度审计工作的履职情况 进行了评估，具体情况如下： 证券代码：833914 证券简称：远航精密 公告编号：2025-054 江苏远航精密合金科技股份有限公司 会计师事务所的履职情况评估报告 二、2024 年度会计师事务所履职情况 容诚会计师事务所对公司 2024 年度财务报告、2024 年度内部控制情况进行了审 计，同时对公司募集资金存放与实际使用情况、控股股东及其他关联方资金占用情况 等进行核查并出具了鉴证报告或专项说明。 在执行审计工作的过程中，容诚会计师事务所就会计师事务所和相关审计人员 的独立性、审计工作小组的人员构成、审计计划、风险判断、风险及舞弊的测试和评 ...

证券代码：833914 证券简称：远航精密 公告编号：2025-063 江苏远航精密合金科技股份有限公司 募集资金存放与实际使用情况的专项报告 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、募集资金基本情况 经中国证券监督管理委员会《关于同意江苏远航精密合金科技股份有限公司 向不特定合格投资者公开发行股票注册的批复》（证监许可【2022】2502 号）核 准，公司于 2022 年 10 月，公开发行人民币普通股股票 2,500 万股，每股发行价 格为人民币 16.20 元，募集资金总额人民币 405,000,000.00 元，扣除各项不含税 发行费用人民币 39,519,528.30 元后，实际募集资金净额为人民币 365,480,471.70 元。募集资金总额，扣除国金证券承销及保荐费用 28,650,000.00 元后，募集资 金初始账户金额为人民币 376,350,000.00 元，该募集资金已于 2022 年 11 月到账。 上述资金到账情况已经容诚会计师事务所（特殊普通合伙）容诚验字 [ ...

募集资金年度存放与使用情况鉴证报告 江苏远航精密合金科技股份有限公司 容诚专字[2025] 310Z0012 号 容诚会计师事务所(特殊普通合伙) 中国·北京 | 序号 | 内 容 | 页码 | | --- | --- | --- | | 1 | 募集资金存放与实际使用情况鉴证报告 | 1-3 | | 2 | 募集资金存放与实际使用情况的专项报告 | 4-10 | 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 / 1001-26 (100037) 目 录 募集资金存放与实际使用情况鉴证报告 容诚专字[2025] 310Z0012 号 江苏远航精密合金科技股份有限公司全体股东： 我们审核了后附的江苏远航精密合金科技股份有限公司（以下简称远航精密 公司）董事会编制的 2024 年度《募集资金存放与实际使用情况的专项报告》。 一、 对报告使用者和使用目的的限定 1 TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn https//WWW.rsm.global/china/ 本鉴证 ...