工业富联：第一季度净利润预计52亿元—53亿元，同比增长24%—27% 工业富联公告称，2025年第一季度预计营业收入1590亿元-1610亿元，同比增长34.0%-35.6%；预计归属 于上市公司股东的净利润为52亿元-53亿元，同比增长24.4%-26.8%。云计算业务方面，板块营业收入同 比增长超过50%，AI服务器、通用服务器营业收入同比皆超过50%。通讯及移动网络设备方面，公司积 极推进战略布局，有效实现对客户的稳健出货。公司将继续聚焦主营业务，推动AI+技术创新和经营提 质增效。 中国联通：为进一步回报股东，3月公司将此前回购的5.13亿股全部注销 中国联通公告称，公司将深入实施融合创新战略，推进"网络向新、技术向新、服务向新"，2025年将着 力实现创新动力更足、能力优势更强、业务结构更优、经营效益更好、品牌形象卓著。同时，公司坚持 战略引领与价值导向，持续推动提升上市公司投资价值，过去几年每股分红保持双位数增长。为进一步 回报股东，2025年3月公司将此前回购的5.13亿股全部注销。此外，公司将持续完善股东沟通渠道，积 极倾听中小股东声音，与投资者高频次交流。 海油工程：控股股东中国海油集团拟 ...

今日聚焦 1、中远海控：拟以7.42亿元-14.83亿元回购股份 中远海控公告称，公司拟以集中竞价交易方式回购A股股份，数量为5000万股至1亿股，预计回购金额 为7.415亿元至14.83亿元。回购资金来源为自有资金，回购股份将全部用于注销并减少注册资本。回购 价格不超过人民币14.83元/股，实施期限自董事会批准回购方案之日起至公司2024年年度股东大会结束 时。公司董监高、控股股东、间接控股股东及持股5%以上的股东未来3个月、6个月无减持计划。 2、川投能源：控股股东拟5亿元-10亿元增持公司股份 川投能源公告称，公司控股股东四川能源发展集团计划在未来12个月内，通过上海证券交易所允许的方 式增持公司股份，增持金额不低于5亿元(含)，不高于10亿元(含)。此次增持不设价格区间，将根据公司 股票价格波动情况及资本市场整体趋势择机实施增持计划。资金来源为增持主体的自有资金或自筹资 金。 3、8天7板凯美特气：公司市净率显著高于行业水平 可能存在非理性交易行为 凯美特气公告称，公司股票价格严重异常波动，可能存在非理性交易行为，交易风险较大。公司市净率 显著高于行业水平，敬请广大投资者理性投资，注意风险。公司前 ...

Financial Performance Expectations - The company expects a net profit attributable to shareholders of the parent company for Q1 2025 to be between 170 million and 200 million CNY, representing an increase of 154.63 million to 184.63 million CNY compared to the same period last year, which is a year-on-year increase of 1005.77% to 1200.91%[2] - The expected net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, is projected to be between 165 million and 195 million CNY, an increase of 139.77 million to 169.77 million CNY year-on-year, reflecting a growth of 554.01% to 672.92%[4] - The total profit for the same period last year was 26.98 million CNY, with a net profit attributable to shareholders of the parent company of 15.37 million CNY[5] Operational Improvements - The company has focused on annual target tasks, enhancing lean management, and steadily improving ship product revenue and production efficiency, leading to improved product gross margins[6] Performance Forecast Accuracy - The company has confirmed that there are no uncertain factors that may affect the accuracy of this performance forecast as of the announcement date[7] - The preliminary financial data provided is unaudited and the specific accurate financial data will be disclosed in the official Q1 2025 report[8]

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 截至月份: 2025年3月31日 狀態: 新提交 致：香港交易及結算所有限公司 FF301 公司名稱: 中船海洋與防務裝備股份有限公司 呈交日期: 2025年4月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00317 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 592,071,197 | RMB | | 1 RMB | | 592,071,197 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 592,071,197 | RMB | | 1 RMB | | 592,071,197 | | 2. 股份分類 | 普通股 | 股份類別 | ...

2024年度，中船防务多项业绩指标均出现增长。其中，当期营收为194.02亿元，同比增长20.17%；归母 净利润为3.77亿元，同比增长684.86%；扣非净利润为3.36亿元，同比增长超190倍。 值得注意的是，中船防务此前扣非净利润已连续亏损12年。Wind数据显示，2012年度—2023年度，中 船防务扣非净利润分别亏损0.39亿元、2.26亿元、6.05亿元、16.20亿元、0.96亿元、10.36亿元、17.58亿 元、10.17亿元、2.83亿元、0.51亿元、0.79亿元、0.02亿元。 营收净利双增背后，中船防务2024年度承接订单规模及结构均有所优化。中船防务方面表示，2024年， 集团实现经营承接250亿元，完成年度计划的165.56%，重点船型批量承接，共承接12型56艘新船订 单。 2024年度，中船海洋与防务装备股份有限公司（600685.SH，以下简称"中船防务"）扣非净利润扭亏。 日前，中船防务发布2024年年报。年报信息显示，2024年度，中船防务营收净利双增，销售毛利率止 跌，且同比大幅增长27.79%。 《中国经营报》记者注意到，自2012年以来，中船防务扣非净利润连续亏 ...

Core Viewpoint - The company reported a significant increase in net profit for 2024, achieving a net profit of 377 million yuan, representing a year-on-year growth of 684.86% [1][2]. Financial Performance - The company achieved a revenue of 19.402 billion yuan in 2024, reflecting a year-on-year increase of 20.17% [2]. - The gross profit margin improved due to optimized order structure, increased production efficiency, and higher investment income from associated companies [2]. - Key subsidiaries showed varied performance, with Huangpu Wenchong reporting a revenue of 18.09 billion yuan and a net loss of 243 million yuan, while Guangzhou Wenchong achieved a net profit of 408 million yuan, up 234.45% [2]. Order and Delivery Performance - As of the end of 2024, the company held a total contract value of approximately 61.6 billion yuan in orders, with 58.7 billion yuan attributed to shipbuilding orders [3]. - The company completed a total of 250 million yuan in new contracts, exceeding its annual target by 165.56% [3]. - A total of 37 vessels were delivered, amounting to 1.0844 million deadweight tons, including significant defense equipment and a batch of feeder container ships [3]. Competitive Advantages - The company operates as a large comprehensive marine and defense equipment enterprise, with strong product, technology, brand, and market advantages [4]. - It has successfully entered the medium-sized container ship market and achieved breakthroughs in dual-fuel ship designs, including the first ammonia dual-fuel gas transport ship in the country [4]. - The continuous optimization of product structure is expected to enhance competitiveness and facilitate global market expansion [4]. Industry Outlook - In 2024, China's shipbuilding completion volume, new orders, and backlog accounted for 55.7%, 74.1%, and 63.1% of the global market share, respectively, maintaining the top position for 15 consecutive years [5]. - The demand for new ships remains strong, with a supply-demand imbalance expected to persist, supporting the company's order intake and delivery [5]. - The company’s order schedule extends to 2029, indicating robust future order support [5].

Investment Rating - The investment rating for the company is "Buy" (maintained) [8] Core Views - The company achieved a significant increase in net profit attributable to shareholders, with a year-on-year growth of 685% in 2024, driven by full production tasks and increased investment income from joint ventures [2][3] - The company has a robust order backlog, with a total contract value of approximately 61.6 billion yuan, including 130 new shipbuilding orders [4] - The shipbuilding industry is experiencing an upward cycle due to replacement cycles, environmental policies, and tight capacity, which are expected to drive ship prices higher [6][7] Financial Performance - In 2024, the company reported operating revenue of 19.402 billion yuan, a year-on-year increase of 20.17%, and a net profit of 377 million yuan, a year-on-year increase of 684.86% [2][3] - The gross margin and net margin for 2024 were approximately 7.76% and 2.43%, respectively, reflecting year-on-year increases of 1.13 and 1.98 percentage points [5] - The company’s core shipbuilding gross margin improved to 9.33%, with significant increases in the gross margins of container ships and bulk carriers [5] Business Segmentation - Revenue from shipbuilding products reached 16.727 billion yuan, up 26.39% year-on-year, while revenue from steel structure engineering declined by 38.43% [3] - The company secured new orders worth 25 billion yuan in 2024, achieving 165.56% of its annual target [3] - The company delivered 37 ships in 2024, totaling 1.0844 million deadweight tons [3] Order Backlog - The company has a total contract value of approximately 61.6 billion yuan in hand, with shipbuilding orders accounting for about 58.7 billion yuan [4] Profitability Outlook - The company forecasts net profits of 850 million yuan, 1.616 billion yuan, and 2.410 billion yuan for 2025, 2026, and 2027, respectively, indicating a compound annual growth rate (CAGR) of 68% [13][14]

Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 19,402,390,859.63, with a net profit attributable to equity holders of RMB 377,262,684.20, resulting in earnings per share of RMB 0.2669[3]. - In 2024, the company achieved operating revenue of RMB 19.402 billion, representing a year-on-year growth of 20.17%[15]. - The net profit attributable to shareholders was RMB 377 million, an increase of RMB 329 million, reflecting a year-on-year growth of 684.86%[18]. - The company reported a significant increase in container ship orders, which surged by 169.9% year-on-year, totaling 49.454 million deadweight tons[11]. - The company secured new orders worth RMB 25 billion, completing 165.56% of the annual plan, with a total of 56 new ship orders across 12 types[16]. - The company delivered 37 vessels with a total deadweight tonnage of 1.0844 million tons during the reporting period[17]. - The total value of the company's order backlog reached approximately RMB 61.6 billion, including 130 ship orders and 2 offshore engineering equipment[17]. - The company reported a significant decline in revenue from the Chinese market, down RMB 1.95 billion or 13.01%, while international sales surged by RMB 5.18 billion, a growth of 557.47%[42]. - The gross margin for products sold in the Chinese market was 6.40%, while the international market achieved a gross margin of 10.23%, an increase of 5.03 percentage points[42]. Dividend Policy - The proposed cash dividend for 2024 is RMB 0.70 per 10 shares, totaling RMB 98,945,446.46, which represents 30.72% of the net profit attributable to shareholders[7]. - The company plans to distribute a total cash dividend of RMB 115,907,523.00 for the year, including interim dividends already distributed[7]. - The company aims to propose a mid-term profit distribution plan for 2025, with total cash dividends not exceeding 30% of the net profit for the first half of 2025[9]. - The company emphasizes a stable profit distribution policy, aiming for cash dividends to account for at least 30% of the average distributable profit over the last three years[5]. Research and Development - Research and development expenses increased by 34.92% to RMB 888 million, indicating a focus on innovation and new technologies[22]. - The number of R&D personnel is 1,345, making up 21.56% of the total workforce[49]. - The company completed 542 patent applications and received 167 patent grants during the reporting period[50]. - The company plans to enhance its innovation capabilities and focus on the development of new ship types, including the "Honghu" series and "Haihui" series[50]. Market Position and Industry Trends - The global new shipbuilding market saw a significant increase, with new orders reaching 178.035 million deadweight tons, a year-on-year growth of 39.3%[10]. - China's shipbuilding industry maintained its global leadership, accounting for 52.1% of the world's completed shipbuilding volume and 69.0% of new orders by deadweight tonnage[12]. - The global shipbuilding industry is experiencing a dual cycle of old ship replacement and fleet greening, with over 374 million deadweight tons of vessels aged 20 years or more, indicating a strong demand for new orders[72]. - The offshore wind power industry is projected to grow from 10.9 GW to 66.2 GW from 2023 to 2033, with a compound annual growth rate of 19.8%[72]. Financial Position - The total assets of the company reached RMB 53.596 billion, a year-on-year increase of 5.37%[18]. - The company's total liabilities decreased by 13.55% to approximately ¥13.29 billion in contract liabilities[33]. - The company's asset-liability ratio was reported at 60.50% as of December 31, 2024[61]. - Shareholders' equity reached RMB 21,170,457,089.87 as of December 31, 2024, up from RMB 19,607,037,723.62 in 2023, indicating an increase of approximately 8%[85]. Cash Flow and Financing - Net cash flow from operating activities decreased primarily due to a significant increase in production scale and material orders compared to the previous year[26]. - Net cash flow from financing activities increased as the company borrowed more from financial institutions to meet operational needs, showing a year-on-year increase[26]. - The company's cash and cash equivalents decreased by 7.08% from the previous period, totaling approximately ¥15.26 billion[32]. - The company experienced a net decrease in cash and cash equivalents of RMB 1,788,509,423.66 in 2024, compared to a decrease of RMB 1,368,825,211.00 in 2023[101]. Operational Efficiency - The company made significant progress in lean management, improving production efficiency and quality across its operations[17]. - The company plans to continue optimizing its order structure and enhancing production efficiency to drive future growth[38]. - The company has implemented a performance-based salary system to enhance efficiency and resource allocation among employees[62]. Governance and Compliance - The company has a board of directors consisting of 8 members, including 4 independent non-executive directors, ensuring compliance with governance standards[69]. - The company will promptly elect a new chairman following the resignation of the former chairman, ensuring adherence to corporate governance codes[67].

中船海洋与防务装备股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相 关要求，我们审计了中船海洋与防务装备股份有限公司（以下简称中 船防务）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、 企业对内部控制的责任 中船海洋与防务装备股份有限公司 内部控制审计报告 2024 年度 信会师报字[2025]第 ZL10054 号 内部控制审计报告 信会师报字[2025]第 ZL10054 号 中国注册会计师: 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企 业内部控制评价指引》的规定，建立健全和有效实施内部控制，并评 价其有效性是中船防务董事会的责任。 二、 注册会计师的责任 内控审计报告 第 1 页 四、 财务报告内部控制审计意见 我们的责任是在实施审计工作的基础上，对财务报告内部控制的 有效性发表审计意见，并对注意到的非财务报告内部控制的重大缺陷 进行披露。 我们认为，中船防务于 2024 年 12 月 31 日按照《企业内部控制 基本规范》和相关规定在所有重大方面保持了有效的财务报告内部控 制。 三、 内部控制的固有局限性 立信 ·殊普通合伙) 计师 ...