格隆汇8月18日丨步阳国际(02457.HK)公告，谨定于2025年8月28日(星期四)举行董事会会议，藉以(其中 包括)考虑及通过集团截至2025年6月30日止的6个月中期业绩，及派发中期股息(如有)，以及处理其他事 项。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 步陽國際控股有限公司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號：2457） Buyang International Holding Inc 董事會召開日期 步陽國際控股有限公司（「本公司」及其附屬公司「本集團」）董事會（「董事會」） 茲通告謹定於2025年8月28日（星期四）舉行董事會會議，藉以（其中包括）考慮 及通過本集團截至2025年6月30日止的六個月中期業績，及派發中期股息（如 有），以及處理其他事項。 承董事會命 步陽國際控股有限公司 主席 徐步雲 香港，2025年8月18日 於本公告日期，董事會由執行董事徐璟珺女士、應永暉先生及胡惠娟女士；非執行董事徐步 雲先生及朱寧先生；及獨立非執行董事楊敏先生、陳晉賡先生及任國棟先生組成。 ...

Market Performance - The Hong Kong stock market indices experienced fluctuations during the week from August 11 to August 17, with the Hang Seng Index rising by 1.65%, the Hang Seng Tech Index increasing by 1.52%, and the Hang Seng China Enterprises Index up by 1.62% [1] Capital Flow - Southbound capital recorded a net inflow of 38.121 billion HKD for the week, representing a week-on-week increase of 75.26%. On August 15, a single-day net inflow of 35.876 billion HKD was achieved, marking a historical high, despite the Hang Seng Index declining by 0.98% on that day [1] Active Stocks - A total of 21 stocks made it to the list of the top ten most active stocks during the week. Tencent Holdings had the highest total trading volume through the Hong Kong Stock Connect, reaching 32.149 billion HKD, while Alibaba-W and SMIC both exceeded 20 billion HKD in trading volume [1] Shareholding Changes - Nineteen stocks saw their southbound capital holdings increase by over 10% week-on-week, with China National Hydrogen Energy, Lens Technology, and Peak Technology experiencing over 100% growth in holdings. Additionally, Delin Holdings and Ruipu Lanjun saw their holdings increase by over 40% [1]

Group 1 - The article provides an overview of the investment activities of Hong Kong-listed companies on August 11, 2025, including new stock activities, earnings announcements, shareholder meetings, and dividend distributions [1] Group 2 - New stock activities include companies such as ZhiNuo Pharmaceutical-B (currently in the IPO process) and Zhonghui Biotechnology-B (listing date) [1] - Earnings announcements are scheduled for companies like Baosheng International, Yuanyuan Group, and Kang Shifu Holdings among others [1] - Shareholder meetings will be held for companies including Huatai Textile, Shandong Gold, and Sichuan Chengyu Expressway [1] - Dividend distributions are noted for companies like Jianbei Miao Miao and Kangnait Optical, with specific ex-dividend and payment dates mentioned [1]

致：香港交易及結算所有限公司 公司名稱: 步陽國際控股有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2025年8月4日 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 I. 法定/註冊股本變動 截至月份: 2025年7月31日 狀態: 新提交 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02457 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,000,000,000 | | 0 | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | | | 本月底結存 | | | 1,000,000,000 | | 0 | | 1,000,000,000 | 第 2 頁 共 ...

Core Viewpoint - The article emphasizes the importance of the 2025 lithium battery research and interview activities, focusing on identifying quality battery brands and products in the energy storage sector [2][4]. Group 1: Research Activities - The 2025 lithium battery research and interview activities will take place from August 4 to August 22, 2025, covering regions such as Shenzhen, Dongguan, and Huizhou, with visits to major companies like BYD, Gotion High-tech, and EVE Energy [7]. - The research process includes factory visits, executive introductions, and discussions on industry trends and collaboration opportunities [6][5]. Group 2: Sponsorship Opportunities - Various sponsorship options are available for the research activities, including full participation for over 20 sponsors and advertising placements in the WeChat account for 10,000 per month [8]. - Sponsors will receive benefits such as a simplified version of the 2025 Global Lithium Battery White Paper and online promotional opportunities during the research activities [8]. Group 3: Previous Research Reviews - The article mentions past research visits to key players in the lithium battery industry, including BYD, CATL, and EVE Energy, highlighting the ongoing engagement with leading companies [10][11].

机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，汽车行业市盈率（TTM）平均值为16.7倍，行业中值8.09倍。步阳国际市盈率12.07倍， 行业排名第15位；其他中国汽车内饰（00048.HK）为1.66倍、浦林成山（01809.HK）为3.43倍、 BRILLIANCE CHI（01114.HK）为4.85倍、郑煤机（00564.HK）为6.17倍、新晨动力（01148.HK）为 6.22倍。 资料显示，步阳国际控股有限公司是铝合金汽轮制造商,步阳国际的主要经营附属公司浙江步阳汽轮有 限公司于2007年注册成立,公司的生产厂房位于中国浙江省金华市永康市,公司的客户主要为售后市场的 铝合金汽轮批发贸易商及零售商,客户采购公司的品牌及/或无品牌的铝合金汽轮并于售后市场销售,以满 足终端用户的改装、维修及保养需求。 6月26日，截至港股收盘，恒生指数下跌0.61%，报24325.4点。步阳国际（02457.HK）收报0.275港元/ 股，上涨10.0%，成交量6.5万股，成交额1.74万港元，振幅10.0%。 最近一个月来，步阳国际累计跌幅5.66%，今年来累计涨幅2.88%，跑输恒生指数22 ...

以4月25日收盘价计算，步阳国际目前市盈率（TTM）约12.55倍，市净率（TTM）约0.6倍，市销率（TTM）约0.61倍。 中证智能财讯 步阳国际（02457）4月25日披露2024年度报告。报告期内，公司实现营业总收入3.92亿元，同比增长6.79%；归母净利润1918万元，同比下降 53.58%；经营活动产生的现金流量净额为2694.2万元，上年同期为-2456.5万元；据报告显示，步阳国际基本每股收益为0.02元，加权平均净资产收益率为 4.86%。 市盈率(TTM)历史分位(%) 001 900 93×54 87:07 80 70 60 54:37 50 40 39-35 3441 30 23:38 20 13:81 10 0 2022-12-30 | 24-06-30 1 -30 制图数据来自恒生聚源数据库 步阳国际控股有限公司是一家主要从事各类铝合金汽轮的制造及销售的公司。该公司主要从事铝合金汽轮制造，专注于售后市场，即用于汽车维修及保养的 零配件市场。该公司致力于为客户提供铝合金汽轮并用于售后市场销售，以满足终端使用者的改装、维修及保养需求。该公司自有及运作多台重力铸造机、 低铸造机、数控( ...

Financial Performance - Total revenue for 2024 was RMB 391.981 million, a 6.9% increase from RMB 367.053 million in 2023[14] - Profit before tax decreased to RMB 24.411 million in 2024, down 57.3% from RMB 57.144 million in 2023[14] - Net profit for 2024 was RMB 19.180 million, a decline of 53.7% compared to RMB 41.314 million in 2023[14] - Gross profit decreased by approximately 32.0% from approximately RMB 73.1 million for the year ended December 31, 2023, to approximately RMB 49.7 million for the year ended December 31, 2024, due to a decline in gross margin[31] - The company's net profit for the year decreased by approximately 53.5% from RMB 41.3 million for the year ended December 31, 2023, to approximately RMB 19.2 million for the year ended December 31, 2024, with a net profit margin dropping from about 11.3% to approximately 4.9%[39] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 493.623 million, slightly down from RMB 499.116 million in 2023[15] - Total equity increased to RMB 400.455 million in 2024, up from RMB 380.887 million in 2023, reflecting a growth of 5.4%[15] - Current liabilities decreased significantly to RMB 83.683 million in 2024, down 24.0% from RMB 110.073 million in 2023[15] - Total liabilities decreased by approximately 21.2% from about RMB 118.2 million as of December 31, 2023, to approximately RMB 93.2 million as of December 31, 2024, mainly due to the payment of dividends in 2024[40] - Cash and cash equivalents decreased by approximately 22.7% from about RMB 223.7 million as of December 31, 2023, to approximately RMB 172.9 million as of December 31, 2024, primarily due to cash being placed in time deposits for higher interest[44] Revenue Breakdown - Revenue increased from approximately RMB 367.1 million for the year ended December 31, 2023, to approximately RMB 392.0 million for the year ended December 31, 2024, primarily due to increased sales in Asia and the Americas[26] - Overseas market sales revenue rose by approximately 8.3% from approximately RMB 245.5 million for the year ended December 31, 2023, to approximately RMB 265.8 million for the year ended December 31, 2024[29] - Revenue from the Asian market increased by approximately 3.9% from approximately RMB 191.1 million for the year ended December 31, 2023, to approximately RMB 198.5 million for the year ended December 31, 2024[29] - Revenue from the Americas increased by approximately 11.0% from approximately RMB 108.6 million for the year ended December 31, 2023, to approximately RMB 120.5 million for the year ended December 31, 2024[29] - Revenue from the European market increased by approximately 14.8% from approximately RMB 54.0 million for the year ended December 31, 2023, to approximately RMB 62.0 million for the year ended December 31, 2024[29] Research and Development - Research and development costs increased to approximately RMB 14.5 million for the year ended December 31, 2024, compared to approximately RMB 9.1 million for the year ended December 31, 2023, due to an increase in R&D projects[36] - The group aims to increase R&D investment and adopt advanced technologies to enhance product quality and maintain competitive advantages[67] Market Strategy - The company is focused on expanding its aftermarket sales in the automotive sector, targeting various vehicle types including SUVs and pickup trucks[8] - Future outlook includes ongoing development of new products and technologies to meet market demands[8] - The group plans to expand into new markets and diversify its product offerings to reduce reliance on a single market or product line[66] - Market expansion efforts are underway, with plans to enter F new markets by the end of the fiscal year, potentially increasing market share by G%[99] Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[72] - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting principles and internal controls[76] - The board consists of 8 members, including 3 executive directors, 2 non-executive directors, and 3 independent non-executive directors[171] - The company has adopted a board diversity policy to enhance efficiency and maintain high standards of corporate governance, focusing on various diversity criteria including gender and professional experience[174] Leadership and Management - The company has a strong leadership team with diverse backgrounds in management, sales, and manufacturing, enhancing its strategic capabilities[80] - The management team is committed to driving growth and innovation within the company, leveraging their extensive industry experience[82] - The leadership structure supports effective decision-making and strategic planning, crucial for the company's future growth[85] Risks and Challenges - The company faces risks related to fluctuations in aluminum ingot prices, which could adversely affect its financial performance[108] - The company has identified potential negative impacts from international trade regulations and geopolitical tensions, particularly between Lithuania and China[103] Shareholder Information - The company did not recommend a final dividend for 2024, maintaining the same stance as in 2023[106] - The company has not established a fixed dividend policy, with distributions determined at the discretion of the board based on various factors[107] Audit and Compliance - KPMG has been appointed as the auditor for the reporting period, with a resolution for their reappointment to be presented at the annual general meeting[163] - The audit committee reviewed the financial statements for the year ending December 31, 2023, and the significant findings from the auditor's report[198]

Financial Performance - For the fiscal year ending December 31, 2024, revenue increased to approximately RMB 391.98 million from RMB 367.05 million, representing a growth of 6.79%[4] - Gross profit decreased to RMB 49.71 million, down 31.98% from RMB 73.09 million in the previous year[4] - Profit before tax fell by 57.28%, from RMB 57.14 million to RMB 24.41 million[4] - Net profit for the year dropped to RMB 19.18 million, a decline of 53.58% compared to RMB 41.31 million in 2023[5] - The net profit margin decreased from approximately 11.3% in 2023 to about 4.9% in 2024[5] - Total comprehensive income for the year was RMB 19.57 million, down 51.97% from RMB 40.74 million in the previous year[5] - Basic and diluted earnings per share were RMB 0.02, a reduction of 50.00% from RMB 0.04 in 2023[5] Revenue Breakdown - Revenue from aluminum alloy turbine sales for 2024 reached RMB 380,212,000, an increase of 6.5% compared to RMB 356,673,000 in 2023[18] - Total revenue for 2024 was RMB 391,981,000, up 6.7% from RMB 367,053,000 in 2023[18] - Revenue from Asian customers was RMB 198,492,000 in 2024, representing a 3.5% increase from RMB 191,063,000 in 2023[22] - Overseas market sales accounted for approximately 70% of total revenue, with overseas sales revenue increasing by about 8.3% from approximately RMB 245.5 million to approximately RMB 265.8 million[56] - Sales revenue from aluminum alloy turbines rose from approximately RMB 356.7 million to approximately RMB 380.2 million, driven by increased market demand and the expansion of new customers[54] Expenses and Costs - Research and development expenses increased to RMB 14.46 million from RMB 9.11 million, reflecting a focus on innovation[7] - Other income decreased significantly to RMB 1,897,000 in 2024 from RMB 7,316,000 in 2023, a decline of 74%[23] - Gross profit decreased by approximately 32.0% from about RMB 73.1 million to approximately RMB 49.7 million, with gross margin dropping from approximately 19.9% to about 12.7% due to rising raw material prices and intense market competition[59] - R&D expenses increased to approximately RMB 14.5 million for the year ending December 31, 2024, up from approximately RMB 9.1 million in 2023, reflecting an increase in R&D projects[64] Assets and Liabilities - Current assets decreased to RMB 397.06 million from RMB 409.37 million, while current liabilities also decreased to RMB 83.68 million from RMB 110.07 million[8] - Total assets slightly decreased from approximately RMB 499.1 million to approximately RMB 493.6 million, while total liabilities decreased by approximately 21.2% from about RMB 118.2 million to approximately RMB 93.2 million[68] - Trade receivables from third parties decreased to RMB 68,947,000 in 2024 from RMB 71,254,000 in 2023[36] - Cash and cash equivalents decreased by approximately 22.7% to RMB 172.9 million as of December 31, 2024, from RMB 223.7 million as of December 31, 2023, mainly due to cash being placed in time deposits for higher interest[72] Dividends and Shareholder Returns - The board of directors did not recommend the distribution of a final dividend for the fiscal year ending December 31, 2024[6] - The company declared a special dividend of HKD 0.03 per share, totaling RMB 27,314,000 for the year[35] - The company does not recommend the distribution of a final dividend for 2024, consistent with the previous year[100] Strategic Initiatives - The company plans to continue developing new products and expanding its sales and distribution network to drive sustainable long-term growth[45] - The company plans to strategically expand and diversify markets to reduce reliance on a single market or product line, targeting emerging markets with growth potential[47] - The company aims to accelerate digital transformation through advanced data analytics, automation, and artificial intelligence to improve operational efficiency and decision-making processes[49] - The company is involved in new business activities related to live e-commerce, indicating a strategic expansion into this sector[115] Risk Management - The group faced minimal interest rate risk due to floating rate financial instruments, with fixed rate instruments not posing significant fair value interest rate risk[91] - The group is exposed to currency risk primarily from receivables and cash balances denominated in currencies other than the functional currency, mainly USD[92] Employment and Workforce - As of December 31, 2024, the group had 486 employees, with total employee costs amounting to approximately RMB 54.5 million, an increase from RMB 48.2 million in the previous year[94] Audit and Compliance - The external auditor, KPMG, confirmed that the financial figures in the preliminary announcement for the year ending December 31, 2024, match those in the audited financial statements[109] - The annual report for 2024 will be published on the Hong Kong Stock Exchange and the company's website, containing all required information as per listing rules[110]