Core Viewpoint - The company reported a significant increase in profits for Q1 2025, driven by substantial investment income, despite a decline in overall revenue for 2024 [1][4]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 4.111 billion yuan, a year-on-year decrease of 5%, while net profit attributable to shareholders was 61.41 million yuan, a year-on-year increase of 42% [1]. - For Q1 2025, the company reported operating revenue of 877 million yuan, a year-on-year increase of 7.5%, and net profit attributable to shareholders of 290 million yuan, a remarkable year-on-year increase of 961% [1]. Group 2: Business Segment Analysis - The optical communication segment generated revenue of 1.115 billion yuan, a year-on-year increase of 36%, with a gross margin increase of 3.26 percentage points to 16.6%, benefiting from previously awarded operator orders [2]. - The automotive wiring harness segment saw revenue decline to 1.206 billion yuan, a year-on-year decrease of 14%, with a gross margin decrease of 1.03 percentage points to 13.18%, primarily due to a downturn in the fuel vehicle market [2]. - The power engineering segment's revenue fell to 1.04 billion yuan, a year-on-year decrease of 30%, with a gross margin decrease of 1.02 percentage points to 19.08%, as project execution did not match the previous year's scale [2]. - Revenue from big data applications decreased to 59.31 million yuan, a year-on-year decline of 38% [2]. - Revenue from superconducting and copper conductors increased to 5.86 billion yuan, a year-on-year increase of 33%, although the gross margin decreased by 4.66 percentage points to 10.6% [2]. Group 3: Future Growth Drivers - The company is focusing on high-temperature superconducting materials and their applications, with plans to expand production capacity to 5,000 kilometers by December 2024 [3]. - In the optical chip sector, the company has established a rare IDM laser chip factory in China, achieving full-process autonomy and developing products that meet industry-leading performance standards [3]. Group 4: Profit Forecast and Investment Recommendations - Due to the significant investment income recognized in Q1 2025 and the anticipated growth in superconducting and optical chip businesses, profit forecasts for 2025-2027 have been revised upward, with expected net profits of 365 million yuan, 139 million yuan, and 166 million yuan respectively [4].

Investment Rating - The report maintains a "Buy" rating for the company with a target price not specified [7] Core Views - The company experienced significant profit growth in Q1 2025 due to substantial investment income, with a reported net profit of 290 million yuan, a year-on-year increase of 961% [1] - The growth in the optical communication segment and investment income from affiliated companies are key drivers of profitability [1][2] - Future growth is expected to be driven by superconducting materials and optical chips, with ongoing expansion in production capacity [3] Financial Performance Summary - For 2024, the company reported a revenue of 4.11 billion yuan, a decrease of 5% year-on-year, while the net profit attributable to shareholders was 61.41 million yuan, an increase of 42% [1][5] - In Q1 2025, the company achieved a revenue of 877 million yuan, a year-on-year increase of 7.5%, and a net profit of 290 million yuan, primarily due to investment income [1] - The optical communication revenue reached 1.115 billion yuan in 2024, up 36% year-on-year, with a gross margin increase of 3.26 percentage points to 16.6% [2] - The automotive wiring harness revenue decreased by 14% to 1.206 billion yuan, and the power engineering revenue fell by 30% to 1.04 billion yuan [2] Future Growth Drivers - The company is focusing on high-temperature superconducting materials and their applications, with plans to expand production capacity to 5,000 kilometers [3] - In the optical chip sector, the company has established a domestic IDM laser chip factory, achieving significant performance metrics for its products [3] Profit Forecast and Investment Recommendations - The profit forecast for 2025-2027 has been adjusted upwards, with expected net profits of 365 million yuan, 139 million yuan, and 166 million yuan respectively [4] - The report maintains an "Overweight" rating based on the anticipated growth in superconducting and optical chip businesses [4]

Investment Rating - The investment rating for the company is "Accumulate" [7] Core Views - The company reported significant profit growth in Q1 2025, primarily driven by substantial investment income and growth in superconducting and optical chip segments [1][4] - The optical communication segment showed strong revenue growth, while automotive wiring and power engineering revenues declined [2] - Future growth is expected from high-temperature superconducting materials and optical chips, with ongoing capacity expansion and product development [3] Financial Performance Summary - In 2024, the company achieved operating revenue of 4.11 billion yuan, a decrease of 5% year-on-year, while net profit attributable to the parent company was 61.41 million yuan, an increase of 42% [1] - For Q1 2025, the company reported operating revenue of 877 million yuan, a year-on-year increase of 7.5%, and a net profit of 290 million yuan, a significant increase of 961% [1] - The optical communication revenue reached 1.115 billion yuan in 2024, up 36% year-on-year, with a gross margin increase of 3.26 percentage points to 16.6% [2] Business Segment Analysis - Optical communication segment: Revenue growth driven by operator orders and concentrated delivery of optical cable products [2] - Automotive wiring segment: Revenue decreased by 14% to 1.206 billion yuan, impacted by declining sales in the fuel vehicle market [2] - Power engineering segment: Revenue fell by 30% to 1.04 billion yuan due to smaller project scales compared to the previous year [2] - Superconducting and copper conductor segment: Revenue increased by 33% to 586 million yuan, although gross margin decreased by 4.66 percentage points to 10.6% [2] Future Growth Drivers - The company is expanding its high-temperature superconducting wire production capacity to 5,000 kilometers, targeting applications in various fields including nuclear fusion and medical technology [3] - In the optical chip sector, the company has established a rare IDM laser chip factory, achieving industry-leading performance metrics for its products [3] Profit Forecast and Investment Recommendations - The profit forecast for 2025-2027 has been revised upwards, with expected net profits of 365 million yuan, 139 million yuan, and 166 million yuan respectively [4] - The recommendation to maintain an "Accumulate" rating reflects the anticipated growth in superconducting and optical chip businesses [4]

Group 1 - The 2024 Annual General Meeting (AGM) of Jiangsu Yongding Co., Ltd. is scheduled for May 16, 2025 [2][7] - A temporary proposal has been submitted by Yongding Group Co., Ltd., which holds 26.17% of the company's shares [2][3] - The temporary proposals include expanding the company's business scope to include "foreign contracting projects" and "engineering management services," along with amendments to the Articles of Association [3][13] Group 2 - The independent director's allowance is proposed to be increased from RMB 80,000 to RMB 100,000 per year per person (pre-tax) [4] - The original agenda of the AGM remains unchanged aside from the newly added temporary proposals [5] - The network voting system will be available from May 15 to May 16, 2025, allowing shareholders to participate in the voting process [8]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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责任。 江苏永鼎股份有限公司（以下简称"公司"）董事会于 2025 年 4 月 29 日收到控 股股东永鼎集团有限公司（持有公司 26.17%股份）《关于提请增加江苏永鼎股份有 限公司 2024 年年度股东大会临时提案的函》，永鼎集团有限公司提议将《关于增加 公司经营范围并修订<公司章程>的议案》等作为临时提案提交公司 2024 年年度股东 大会审议，主要内容如下： 根据公司经营发展需要，公司经营范围拟增加"对外承包工程"和"工程管理 服务"（以工商局核定为准）,并对《公司章程》相关条款作出相应修订。《公司章程》 具体修订如下： | 序号 | 修订前 | 修订后 | | --- | --- | --- | | | 第十四条 经公司登记机关核准，公司 | 第十四条 经公司登记机关核准，公司 | | | 经营范围是:电线、电缆、光纤预制棒、光 | 经营范围是:电线、电缆、光纤预制棒、光 | | | 纤、光缆、配电开关控制设备、电子产品、 | 纤、光缆、配电开关控制设备、电子产品、 | ...

江苏永鼎股份有限公司 2024 年年度股东大会资料 江苏永鼎股份有限公司 2024 年年度股东大会资料 2025.5.16 1 江苏永鼎股份有限公司 2024 年年度股东大会资料 江苏永鼎股份有限公司 2024 年年度股东大会会议 目 录 一、会议议程 二、股东大会注意事项 三、2024 年年度股东大会议案 | 序号 | 议案名称 | | --- | --- | | 非累积投票议案 | | | 1 | 公司 2024 年度董事会工作报告 | | 2 | 公司 2024 年度监事会工作报告 | | 3 | 公司 2024 年度财务决算报告 | | 4 | 公司 2024 年度利润分配方案 | | 5 | 公司 2024 年年度报告及年度报告摘要 | | 6 | 关于公司董事 2024 年度薪酬的议案 | | 7 | 关于公司监事 2024 年度薪酬的议案 | | 8 | 关于公司 2025 年度向银行等金融机构申请综合授信额度的议案 | | 9 | 关于控股股东为公司年度申请银行授信提供担保预计暨关联交易的议案 | | 10 | 关于为控股股东提供担保暨关联交易的议案 | | 11 | 关于公司为子公司年度申请 ...

证券代码：600105 证券简称：永鼎股份 公告编号：临 2025-028 江苏永鼎股份有限公司 关于2024年年度股东大会增加临时提案的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 一、 股东大会有关情况 1. 股东大会的类型和届次： 2024年年度股东大会 2. 股东大会召开日期：2025 年 5 月 16 日 3. 股权登记日 | 股份类别 | 股票代码 | 股票简称 | 股权登记日 | | --- | --- | --- | --- | | Ａ股 | 600105 | 永鼎股份 | 2025/5/9 | 二、 增加临时提案的情况说明 公司已于2025 年 4 月 22 日公告了股东大会召开通知，单独或者合计持有 26.17%股份的股东永鼎集团有限公司，在2025 年 4 月 29 日提出临时提案并书 面提交股东大会召集人。股东大会召集人按照《上市公司股东大会规则》有关规 1. 提案人：永鼎集团有限公司 2. 提案程序说明 定，现予以公告。 3. 临时提案的具体内容 （2）提案名称：关于调整独立董事津贴的议案 （ ...

江苏永鼎股份有限公司 章 程 二〇二五年 目 录 | 第一章 | 总则 | | --- | --- | | 第二章 | 经营宗旨及范围 | | 第三章 | 股份 | | 第一节 | 股份发行 | | 第二节 | 股份增减和回购 | | 第三节 | 股份转让 | | 第四章 | 股东和股东大会 | | 第一节 | 股东 | | 第二节 | 股东大会的一般规定 | | 第三节 | 股东大会的召集 | | 第四节 | 股东大会的提案与通知 | | 第五节 | 股东大会的召开 | | 第六节 | 股东大会的表决和决议 | | 第五章 | 董事会 | | 第一节 | 董事 | | 第二节 | 董事会 | | 第六章 | 总经理及其他高级管理人员 | | 第七章 | 监事会 | | 第一节 | 监事 | | 第二节 | 监事会 | | 第八章 | 财务会计制度、利润分配和审计 | | 第一节 | 财务会计制度 | | 第二节 | 内部审计 | | 第三节 | 会计师事务所的聘任 | | 第九章 | 通知与公告 | | 第一节 | 通知 | | 第二节 | 公告 | | 第十章 | 合并、分立、增资、减资、解散和清算 | ...

永鼎股份（600105.SH）2024 年年报及 2025 年一季报点评 业务稳健经营，投资收益显著增厚 25Q1 业绩 2025 年 04 月 24 日 ➢ 事件：4 月 21 日，公司发布 2024 年年报及 2025 年一季报。2024 年全年 实现营收 41.11 亿元，同比下降 5.4%，实现归母净利润 0.61 亿元，同比增长 42%，实现扣非归母净利润 0.46 亿元，同比增长 567.0%。2025 年一季度来看， 单季度实现营收 8.78 亿元，同比增长 7.5%，实现归母净利润 2.90 亿元，同比 增长 960.6%，实现扣非归母净利润 2.91 亿元，同比增长 1230.7%。 ➢ 2024 年公司整体业绩表现稳健，各业务板块呈现一定的结构性分化，光通 信、超导及铜导体业务营收增长显著：具体来看，1）光通信：2024 年实现营收 11.16 亿元，同比增长 35.6%，毛利率达 16.60%，同比增长 3.26pct。收入增 长受益于前期中标运营商订单在 2023 年末释放，光缆产品于 2024 年进入集中 交付期，产销量同比双增，同时通过拓展非运营商客户，铜缆产品产销量同步提 升，叠 ...

Investment Rating - The report maintains a "Recommended" rating for the company [4][6]. Core Insights - The company demonstrated stable overall performance in 2024, with a revenue of 4.111 billion yuan, a year-on-year decrease of 5.4%, while achieving a net profit attributable to shareholders of 61 million yuan, a year-on-year increase of 42% [1][2]. - In Q1 2025, the company reported a revenue of 878 million yuan, a year-on-year increase of 7.5%, and a net profit attributable to shareholders of 290 million yuan, a significant year-on-year increase of 960.6% [1][3]. - The investment income significantly boosted the company's profits in Q1 2025, primarily due to equity method recognition of investment income from joint venture Dongchang Investment, amounting to 292 million yuan [3]. Summary by Sections Business Performance - The company's revenue from the optical communication segment reached 1.116 billion yuan in 2024, up 35.6% year-on-year, with a gross margin of 16.60%, an increase of 3.26 percentage points [2]. - The automotive wiring harness segment saw a revenue of 1.206 billion yuan, down 13.7% year-on-year, with a gross margin of 13.18%, a decrease of 1.03 percentage points [2]. - The power engineering segment's revenue was 1.041 billion yuan, down 30.0% year-on-year, with a gross margin of 19.08%, a decrease of 1.02 percentage points [2]. - The superconducting and copper conductor segment achieved a revenue of 586 million yuan, up 33.3% year-on-year, with a gross margin of 10.60%, a decrease of 4.66 percentage points [2]. Future Outlook - The company is deepening its layout in cutting-edge fields such as optical chips and superconductors, with significant future growth potential [3]. - The company expects net profits attributable to shareholders for 2025-2027 to be 361 million, 161 million, and 203 million yuan, respectively, with corresponding PE multiples of 26X, 58X, and 46X [4][5].