证券代码：600686 证券简称：金龙汽车 编号：2025-008 厦门金龙汽车集团股份有限公司 2024 年度业绩预告 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。 重要内容提示： ●本期业绩预告适用于实现盈利，且净利润与上年同期相比上升 50%以上。 ●公司预计2024年归属于上市公司股东的净利润约14,500万元(未经审计)， 与上年同期相比，将同比增长 93.08%。 ●扣除非经常性损益事项后，公司预计 2024 年归属于上市公司股东的扣除 非经常性损益的净利润约-17,800 万元(未经审计)。 一、本期业绩预告情况 （一）业绩预告期间 2024 年 1 月 1 日至 2024 年 12 月 31 日。 1 归属于上市公司股东的扣除非经常性损益的净利润：-35,519.02 万元。 （二）每股收益：0.09 元。 三、本期业绩预增的主要原因 （一）主营业务影响 （二）业绩预告情况 1.经财务部门初步测算，预计 2024 年实现归属于上市公司股东的净利润约 14,500 万元（未经审计），与上年同期 7,509.68 ...

证券研究报告·公司点评报告·商用车 金龙汽车（600686） 2024 全年产销高兑现，收购子公司少数股权 资产整合接近尾声 买入（维持） | [Table_EPS] 盈利预测与估值 | 2022A | 2023A | 2024E | 2025E | 2026E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 18240 | 19400 | 20973 | 23754 | 26757 | | 同比（%） | 18.30 | 6.36 | 8.11 | 13.26 | 12.64 | | 归母净利润（百万元） | (386.89) | 75.10 | 175.61 | 444.89 | 644.17 | | 同比（%） | 35.00 | 119.41 | 133.85 | 153.34 | 44.79 | | EPS-最新摊薄（元/股） | (0.54) | 0.10 | 0.24 | 0.62 | 0.90 | | P/E（现价&最新摊薄） | (24.63) | 126.90 | 54.27 | 21.42 | 14.79 | [Table_T ...

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汽车产业链股26日盘中强势上扬，截至发稿，迪生力、金龙汽车、福达股份、动力新科、祥鑫科技、东 风股份等涨停，嵘泰股份、正强股份涨超7%。 中原证券表示，以旧换新政策效能持续，截至12月19日，政策实施以来全国汽车报废更新近270万辆， 汽车置换更新超310万辆，年末伴随新车型密集上市，行业需求持续向上。建议持续关注智能化进展带 来的边际变化，持续看好具备强产品周期以及全球化扩展稳健的自主品牌以及华为、小米汽车产业链智 能化增量零部件投资机会；商用车持续复苏以旧换新政策带动，关注客车和重卡板块投资机会。 据商务部数据，截至12月19日24时，全国汽车报废更新近270万辆，汽车置换更新超310万辆。据此前公 布信息计算，12月13日至12月19日7天中，汽车报废/置换更新补贴日均新增2.7万辆、5.4万辆，相较于 11月的1.5万辆、2.6万辆分别提升76%、106%，政策窗口期销量促进效果明显。机构表示，展望2025 年，商务部已明确开始研究布局汽车以旧换新接续政策，政策刺激下乘用车销量有望延续向上态势。 校对：彭其华 ...

Industry Performance - Automotive industry stocks surged during the trading session, with Shuanglin Co Ltd rising nearly 12%, and companies like Suoling Co Ltd, Jinlong Automobile, Mingke Precision Technology, Yibin Technology, and Dishengli hitting the daily limit up, while Guansheng Co Ltd rose over 8% [1] Market Data and Trends - Preliminary estimates from the China Passenger Car Association (CPCA) indicate that November passenger vehicle retail sales reached 2.446 million units, up 18% year-on-year and 8% month-on-month [1] - Passenger vehicle wholesale sales in November were 2.943 million units, a 15% year-on-year increase and an 8% month-on-month increase [1] - The sales growth is attributed to year-end manufacturer promotions and the impact of trade-in policies [1] Policy and Future Outlook - The Ministry of Commerce has indicated plans to formulate follow-up policies for vehicle trade-ins next year, which could further expand domestic automotive consumption by 2025 if effectively implemented [1] Investment Opportunities - Southwest Securities recommends focusing on opportunities arising from increased trade-in subsidies, year-end manufacturer promotions, and new vehicle cycles [1] - Opportunities in Robotaxi and the Huawei ecosystem are also highlighted [1] - Potential benefits from the implementation of scrappage policies and the possible nationwide phase-out of National IV emission standards are noted, particularly for heavy-duty trucks [1]

证券时报e公司讯，金龙汽车(600686)11月7日晚间公告，公司持股10.57%的股东福建省投资开发集团有 限责任公司（简称"福建投资集团"）拟15个交易日后的3个月内，通过集中竞价方式减持股份不超过 717.05万股，减持比例不超过公司总股本的1%。 ...

证券研究报告·公司点评报告·商用车 金龙汽车（600686） 2024 年三季报点评：受产销规模影响盈利承 压，出口表现良好 2024 年 10 月 31 日 买入（维持） | --- | --- | --- | --- | --- | --- | |------------------------------|----------|--------|--------|--------|--------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 18240 | 19400 | 20973 | 23754 | 26757 | | 同比（ % ） | 18.30 | 6.36 | 8.11 | 13.26 | 12.64 | | 归母净利润（百万元） | (386.89) | 75.10 | 175.61 | 444.89 | 644.17 | | 同比（ % ） | 35.00 | 119.41 | 133.85 | 153.34 | 44.79 | | EPS- 最新摊薄（元 / 股） | ( ...

Revenue and Profit - Revenue for the third quarter was RMB 4.64 billion, a decrease of 1.65% year-over-year[2] - Net profit attributable to shareholders for the third quarter was RMB 9.996 million, an increase of 1.53% year-over-year[2] - The company's net profit attributable to shareholders for the first three quarters increased by 34.73% year-over-year, driven by slight revenue growth and improved gross margins[6] - Total operating revenue for the first three quarters of 2024 was RMB 14,399,821,132.81, a slight increase from RMB 14,084,395,063.92 in the same period of 2023[12] - Net profit attributable to the parent company's shareholders in the first three quarters of 2024 was RMB 76,392,451.56, up from RMB 56,701,476.53 in the same period of 2023[12] - Sales revenue from goods and services in the first three quarters of 2024 was RMB 15,956,047,469.90, slightly lower than RMB 16,601,441,304.60 in the same period of 2023[14] Assets and Liabilities - Total assets as of the end of the third quarter were RMB 27.81 billion, an increase of 5.50% compared to the end of the previous year[3] - The company's total equity attributable to shareholders increased by 1.67% compared to the end of the previous year, reaching RMB 3.18 billion[3] - Total assets increased to 27.81 billion RMB, up from 26.36 billion RMB at the end of 2023[10] - Current assets rose to 19.96 billion RMB, compared to 17.37 billion RMB at the end of 2023[10] - Total liabilities increased to 23.63 billion RMB, up from 22.27 billion RMB at the end of 2023[11] - Shareholders' equity grew to 4.18 billion RMB, compared to 4.09 billion RMB at the end of 2023[11] - Inventory increased to 3.05 billion RMB, up from 2.22 billion RMB at the end of 2023[10] - Accounts receivable rose to 3.75 billion RMB, compared to 3.00 billion RMB at the end of 2023[10] - Short-term borrowings decreased to 667.83 million RMB, down from 851.87 million RMB at the end of 2023[11] - Long-term borrowings increased to 4.19 billion RMB, up from 3.19 billion RMB at the end of 2023[11] - Retained earnings grew to 765.11 million RMB, compared to 713.82 million RMB at the end of 2023[11] Cash Flow - Net cash flow from operating activities for the first three quarters was RMB 1.30 billion, a decrease of 36.64% year-over-year[2] - The decrease in cash flow from operating activities was mainly due to a reduction in cash received from sales of goods[6] - Net cash flow from operating activities in the first three quarters of 2024 was RMB 1,301,688,957.04, a decrease from RMB 2,054,377,795.25 in the same period of 2023[14] - Net cash flow from investing activities in the first three quarters of 2024 was negative RMB 2,083,977,438.70, compared to negative RMB 857,512,438.75 in the same period of 2023[14] - Cash and cash equivalents at the end of the third quarter of 2024 were RMB 4,628,605,668.67, down from RMB 6,416,690,687.57 at the end of the same period in 2023[15] - Total investment payments in the first three quarters of 2024 were RMB 11,103,461,923.01, a significant increase from RMB 2,381,177,500.00 in the same period of 2023[14] Earnings and Returns - Basic earnings per share for the third quarter were RMB 0.02, an increase of 100% year-over-year[2] - Weighted average return on equity (ROE) for the first three quarters was 2.42%, an increase of 1.04 percentage points year-over-year[2] - Basic earnings per share for the first three quarters of 2024 were RMB 0.11, up from RMB 0.06 in the same period of 2023[13] - Total comprehensive income for the first three quarters of 2024 was RMB 144,015,775.86, compared to RMB 117,994,029.86 in the same period of 2023[13] Non-Recurring Items and Shareholder Information - Non-recurring gains and losses for the third quarter amounted to RMB 54.60 million, primarily due to gains from financial asset disposals and government subsidies[4] - The top shareholder, Fujian Automobile Industry Group Co., Ltd., holds 231.23 million shares, representing 32.25% of total shares[8] R&D and Accounting Standards - R&D expenses increased to RMB 516,544,314.21 in the first three quarters of 2024, compared to RMB 482,007,818.91 in the same period of 2023[12] - The company implemented new accounting standards or interpretations starting in 2024, which involved adjustments to the financial statements at the beginning of the year[16]

证券研究报告·公司点评报告·商用车 金龙汽车（600686） 24Q3 产销点评：Q3 出口同比提升，看好 Q4 内外需共振向上 2024 年 10 月 14 日 买入（维持） | --- | --- | --- | --- | --- | --- | |------------------------------|----------|--------|--------|--------|--------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 18240 | 19400 | 20973 | 23754 | 26757 | | 同比（ % ） | 18.30 | 6.36 | 8.11 | 13.26 | 12.64 | | 归母净利润（百万元） | (386.89) | 75.10 | 305.24 | 625.44 | 890.91 | | 同比（ % ） | 35.00 | 119.41 | 306.46 | 104.90 | 42.45 | | EPS- 最新摊薄（元 / 股） | ...