（一）会议召开情况 1.会议召开时间：2025 年 4 月 12 日 2.会议召开地点：公司会议室 3.会议召开方式：现场 4.发出董事会会议通知的时间和方式：2025 年 4 月 1 日以书面方式发出 证券代码：872931 证券简称：无锡鼎邦 公告编号：2025-004 无锡鼎邦换热设备股份有限公司 第三届董事会第九次会议决议公告 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 5.会议主持人：董事长王仁良先生 6.会议列席人员：董事会秘书 7.召开情况合法、合规、合章程性说明： 本次董事会的召集、召开程序符合《公司法》等法律、法规、规章及《公司 章程》的规定，合法有效。 （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。 二、议案审议情况 （一）审议通过《关于预计 2025 年度日常性关联交易的议案》 3.回避表决情况： 关联董事王仁良、王凯、王丽萍回避表决 4.提交股东大会表决情况： 本议案尚需提交股东大会审议。 （二）审议通过《关于预计公司 202 ...

Investment Rating - The investment rating for the company is "Outperform" (Maintain) [3] Core Views - The company is expected to achieve a revenue of 401 million yuan in 2024, a decrease of 8.55% year-on-year, with a net profit attributable to the parent company of 40 million yuan, down 14.00% year-on-year. The decline is attributed to the price drop of high-priced stainless steel products and oil slurry steam generators [3] - The company is well-positioned to benefit from the "reduce oil and increase chemical" policy, coupled with its accelerated expansion into overseas oil and chemical heat exchanger markets, maintaining an "Outperform" rating [3] Financial Summary - The company's total revenue for 2022 was 367 million yuan, with a year-on-year growth of 18.4%. The projected revenue for 2023 is 438 million yuan, a growth of 19.5%, followed by an expected decline to 401 million yuan in 2024 [6] - The net profit attributable to the parent company for 2022 was 40 million yuan, with a significant year-on-year increase of 103.2%. The forecast for 2024 is a net profit of 40 million yuan, reflecting a decrease of 14.0% [6] - The company's gross margin is projected to be 20.5% in 2024, down from 22.2% in 2022, while the net margin is expected to be 10.1% in 2024 [6] Market Trends - The domestic heat exchanger market is expected to grow from 900.2 billion yuan in 2023 to 992.1 billion yuan by 2026, with a compound annual growth rate (CAGR) of 3.29% [4] - The "reduce oil and increase chemical" policy is driving the demand for heat exchangers, as large refining enterprises are actively promoting integrated refining and chemical upgrades [4] Company Positioning - The company has extensive experience in petrochemical heat exchangers and has established itself as a qualified supplier for major global companies such as Shell, Saudi Aramco, and ExxonMobil, indicating a strong competitive position [5] - The company is accelerating its overseas expansion efforts, which are expected to become a new growth driver while maintaining its domestic business [5]

北交所信息更新 无锡鼎邦（872931.BJ） 2025 年 03 月 15 日 投资评级：增持（维持） | 日期 | 2025/3/14 | | --- | --- | | 当前股价(元) | 17.44 | | 一年最高最低(元) | 20.65/6.36 | | 总市值(亿元) | 16.38 | | 流通市值(亿元) | 5.02 | | 总股本(亿股) | 0.94 | | 流通股本(亿股) | 0.29 | | 近 3 个月换手率(%) | 375.26 | 北交所研究团队 公司加快海外油化换热器拓展步伐，成为多家全球油化龙头供应商 ——北交所信息更新 诸海滨（分析师） zhuhaibin@kysec.cn 证书编号：S0790522080007 2024 快报预计营收 4.01 亿元（-8.55%），归母净利润 0.40 亿元（-14.00%） 公司发布 2024 年业绩快报，预计 2024 年公司实现营业收入 4.01 亿元，同比下 滑 8.55%；归母净利润为 0.40 亿元，同比下滑 14.00%；扣非净利润 0.39 亿元， 同比下滑 13.64%。受公司产品吨单价较高的不锈钢类产品及油 ...

Investment Rating - The investment rating for the company is "Outperform" (Maintain) [3] Core Views - The company is expected to achieve a revenue of 401 million yuan in 2024, a decrease of 8.55% year-on-year, with a net profit attributable to the parent company of 40 million yuan, down 14.00% year-on-year. The profit forecasts for 2024-2026 have been revised downwards due to a decline in product prices [3][4] - The "Reduce Oil and Increase Chemical" policy is expected to boost demand for heat exchangers, driven by the concentration and large-scale development of domestic refineries [4] - The company has been deepening its expertise in petrochemical heat exchangers and is accelerating its overseas expansion, becoming a qualified supplier for several global oil and chemical giants [5] Financial Summary - The company's total revenue is projected to decline from 438 million yuan in 2023 to 401 million yuan in 2024, with a subsequent recovery to 442 million yuan in 2025 and 491 million yuan in 2026 [6] - The net profit attributable to the parent company is expected to remain at 40 million yuan in 2024, with a gradual increase to 45 million yuan in 2025 and 50 million yuan in 2026 [6] - The company's gross margin is projected to decrease from 21.4% in 2023 to 20.5% in 2024, with a slight recovery to 20.6% in 2025 and 20.8% in 2026 [6][12]

Financial Performance - The company's operating revenue for the reporting period was CNY 400,949,043.73, a decrease of 8.55% compared to the same period last year[3] - The total profit for the reporting period was CNY 45,019,316.54, down 15.02% year-on-year[3] - The net profit attributable to shareholders was CNY 40,477,076.23, reflecting a 14.00% decline compared to the previous year[3] - The basic earnings per share decreased to CNY 0.47, a drop of 34.72% year-on-year[3] Assets and Equity - Total assets at the end of the reporting period reached CNY 691,594,833.20, an increase of 15.52% from the beginning of the period[5] - Shareholders' equity attributable to the company increased by 95.95% to CNY 392,635,493.42[5] Business Operations - The company successfully delivered overseas orders during the reporting period, marking a breakthrough in its international business[6] - The decline in revenue was attributed to lower prices for stainless steel products and steam generators, alongside increased domestic market competition[6] - The company issued additional shares, increasing its share capital by 28.75 million shares during the reporting period[6] Financial Caution - The financial data presented is preliminary and has not been audited, cautioning investors about potential risks[7]

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [1]. Core Viewpoints - The company, Wuxi Dingbang, has a solid order demand for oil slurry evaporators and is expanding its overseas presence, which opens up growth opportunities [8]. - The company has shown steady revenue growth, with a compound annual growth rate (CAGR) of 9.38% from 2019 to 2023, and a significant increase in net profit with a CAGR of 31.58% during the same period [21]. - The market for heat exchange equipment is expected to grow steadily, driven by energy-saving and emission reduction trends, particularly in the petrochemical sector [29]. Summary by Sections Company Overview - Wuxi Dingbang, established in 2003, specializes in the research, production, and sales of heat exchange equipment, primarily serving the petrochemical industry [11]. - The company has a stable customer base, including major domestic enterprises and international clients like Shell and ExxonMobil [8]. Market Dynamics - The heat exchange equipment market is projected to grow from CNY 810.50 billion in 2019 to CNY 992.1 billion by 2026, with a CAGR of 3.29% from 2023 to 2026 [35]. - The petrochemical sector accounts for approximately 30% of the total demand for heat exchange equipment, indicating a robust market for the company's products [36]. Product Demand and Growth Potential - The oil slurry evaporator is a key product with high demand, particularly in catalytic cracking processes, and has a higher profit margin compared to other heat exchangers [46]. - The company is actively expanding its production capacity, with plans to build a facility capable of producing 65,000 tons of heat exchangers and air coolers annually [49]. Financial Projections - The company is expected to achieve net profits of CNY 0.43 billion, CNY 0.54 billion, and CNY 0.62 billion for the years 2024, 2025, and 2026, respectively [8]. - The current price-to-earnings (P/E) ratio is projected to be 24.80, 19.62, and 17.08 for the years 2024, 2025, and 2026 [1].

（一）会议召开情况 1.会议召开时间：2024 年 12 月 20 日 2.会议召开地点：公司会议室 3.会议召开方式：现场 证券代码：872931 证券简称：无锡鼎邦 公告编号：2024-115 无锡鼎邦换热设备股份有限公司 第三届董事会第八次会议决议公告 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 6.会议列席人员：董事会秘书 7.召开情况合法、合规、合章程性说明： 本次董事会的召集、召开程序符合《公司法》等法律、法规、规章及《公司 章程》的规定，合法有效。 会议应出席董事 7 人，出席和授权出席董事 7 人。 二、议案审议情况 4.发出董事会会议通知的时间和方式：2024 年 12 月 12 日以书面方式发出 （二）会议出席情况 5.会议主持人：董事长王仁良先生 善处理各类舆情对公司股价、公司商业信誉及正常生产经营活动造成的影响，切 实保护公司及投资者合法权益，根据《北京证券交易所股票上市规则（试行）》 等相关法律法规、规范性文件以及《公司章程》的相关规定，结合公司实际 ...

证券代码：872931 证券简称：无锡鼎邦 公告编号：2024-116 无锡鼎邦换热设备股份有限公司舆情管理制度 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、 审议及表决情况 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的报道，尤其是负面报道、不实 报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （三）可能或者已经影响社会公众投资者投资取向，造成股价异常波动的信 息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较 大影响的事件信息。 公司于 2024 年 12 月 20 日召开第三届董事会第八次会议，审议通过《关于 制定<舆情管理制度>的议案》，本议案无需提交公司股东大会审议。 二、 制度的主要内容，分章节列示： 无锡鼎邦换热设备股份有限公司 舆情管理制度 第一章 总则 第一条 为提高无锡鼎邦换热设备股份有限公司（以下简称"公司"）舆情处 置工作的效率和质量，建立快速反应和应急处置机制，及时、妥善处理各类舆情 尤其是负面舆情对公司 ...

无锡鼎邦换热设备股份有限公司 证券代码：872931 证券简称：无锡鼎邦 公告编号：2024-116 无锡鼎邦换热设备股份有限公司舆情管理制度 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、 审议及表决情况 公司于 2024 年 12 月 20 日召开第三届董事会第八次会议，审议通过《关于 制定<舆情管理制度>的议案》，本议案无需提交公司股东大会审议。 二、 制度的主要内容，分章节列示： 舆情管理制度 第一章 总则 第一条 为提高无锡鼎邦换热设备股份有限公司（以下简称"公司"）舆情处 置工作的效率和质量，建立快速反应和应急处置机制，及时、妥善处理各类舆情 尤其是负面舆情对公司股价、公司商业信誉及正常生产经营活动造成的影响，切 实保护公司及投资者合法权益，根据《中华人民共和国公司法》《中华人民共和 国证券法》《北京证券交易所股票上市规则（试行）》等有关法律、法规、规范性 文件及《无锡鼎邦换热设备股份有限公司章程》（以下简称"《公司章程》"），结 合公司实际情况，制定本制度。 第二条 本制度所称舆情包 ...

证券代码：872931 证券简称：无锡鼎邦 公告编号：2024-115 无锡鼎邦换热设备股份有限公司 第三届董事会第八次会议决议公告 5.会议主持人：董事长王仁良先生 6.会议列席人员：董事会秘书 7.召开情况合法、合规、合章程性说明： 本次董事会的召集、召开程序符合《公司法》等法律、法规、规章及《公司 章程》的规定，合法有效。 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：2024 年 12 月 20 日 2.会议召开地点：公司会议室 3.会议召开方式：现场 4.发出董事会会议通知的时间和方式：2024 年 12 月 12 日以书面方式发出 （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。 二、议案审议情况 （一）审议通过《关于制定<舆情管理制度>的议案》 1.议案内容： 为提高公司应对各类舆情的能力，建立快速反应和应急处置机制，及时、妥 善处理各类舆情对公司股价、公司商业信誉及正常生产经营活动造成的影响，切 实保 ...