证券代码：603081 证券简称：大丰实业 公告编号：2025-043 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 208 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 215,202,774 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 50.94 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 (一)股东大会召开的时间：2025 年 5 月 26 日 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。 (二)股东大会召开的地点：浙江省杭州市滨江区白马湖创意城大丰科创中心二楼 207 会议室 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 浙江大丰实业股份有限公司 2024年年度股东大会决议公告 本次股东大会由公司董事会召集，现场会议由董事长丰华先生主持，会议采用现 (五)公司董事、监事和董事会秘书的出席情况 场投票和网络 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [1][6] Core Views - The company has shown a notable growth in its cultural and tourism operations, with a revenue increase of 44.26% in 2024, reaching 262 million yuan, and a gross margin improvement of 13.65 percentage points [4] - The company is actively exploring innovative business models, including a partnership with Shanghai Zhiyuan New Technology Co., Ltd. to develop humanoid robots tailored for cultural and tourism applications [5] - The financial outlook has been adjusted, with revenue forecasts for 2025-2027 revised to 1.96 billion, 2.09 billion, and 2.22 billion yuan, respectively, and net profit estimates adjusted to 142 million, 166 million, and 179 million yuan [7] Financial Performance Summary - In 2024, the company reported total revenue of 1.84 billion yuan, a year-on-year decrease of 4.88%, and a net profit of 65 million yuan, down 36.03% [2] - The gross margin for the company improved to 33.4% in 2024, while the sales expense ratio increased to 7.21% [3] - The company’s cash flow from operating activities decreased by 37.53% to 105 million yuan in 2024, primarily due to reduced tax refunds [3] Business Segment Analysis - The cultural and tourism technology equipment segment saw a revenue decline of 22.72%, but its gross margin increased by 8.89 percentage points [3] - The digital art technology business experienced an 18.14% revenue growth with a gross margin increase of 5.99 percentage points [3] - The rail transit equipment business revenue surged by 99.95%, with a gross margin increase of 13.93 percentage points [3]

证券研究报告|公司点评报告 [Table_Date] 2025 年 05 月 21 日 [Table_Title] 文体旅运营增长亮眼，外延合作探索具身智能 [Table_Title2] 大丰实业(603081) | [Table_DataInfo] 评级： | 增持 | 股票代码： | 603081 | | --- | --- | --- | --- | | 上次评级： | 增持 | 52 周最高价/最低价： | 16.54/8.72 | | 目标价格： | | 总市值(亿) | 48.89 | | 最新收盘价： | 10.89 | 自由流通市值(亿) | 48.54 | | | | 自由流通股数(百万) | 433.39 | [Table_Summary] ►事件概述 ►持续探索创新业态，与智元机器人强强联合 2025 年 4 月，公司与上海智元新创技术有限公司签订股权合作协议，共同出资成立合资公司，主要从事匹 配文娱体旅商场景需求的人形机器人项目开发并实现商业化落地，其中大丰持股 85%，智元持股 15%，共同打造 全国首个"整机企业+文娱体旅商应用场景服务商"的生态。我们看好双方合作的发展前景，各自发 ...

浙江大丰实业股份有限公司 2024年年度股东大会会议资料 浙江大丰实业股份有限公司 2024 年年度股东大会 会议资料 2025 年 5 月 1 浙江大丰实业股份有限公司 2024年年度股东大会会议资料 2024 年年度股东大会会议议程 会议召开时间： 1、现场会议时间：2025 年 5 月 26 日 14 点 00 分 2、网络投票时间：上海证券交易所网络投票系统股东大会召开当日的交易时间 段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投票平台的投票时 间为股东大会召开当日的 9:15-15:00。 会议召开地点： 浙江省杭州市滨江区白马湖创意城大丰科创中心二楼 207 会议室 会议召集人：董事会 会议议程： 浙江大丰实业股份有限公司 2025 年 5 月 2 1、参会人员签到 2、主持人介绍股东到场情况，宣布会议开始 3、宣读大会有关议案并审议 4、股东及股东代理人提问和解答 5、推举计票人、监票人 6、现场股东投票表决 7、收集现场表决票并计票，宣布现场表决结果 8、休会，将现场表决结果与网络投票表决结果进行汇总 9、宣读股东大会决议 10、律师发表见证意见 11、 ...

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Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has successfully transitioned through the challenging phase of cultural and tourism operations, with a backlog of orders expected to support a return to growth [1] - The company is focusing on optimizing its order structure and reducing high-risk projects, leading to a gradual recovery in revenue [4][5] - The company has established a joint venture to develop humanoid robots for cultural and entertainment applications, which is anticipated to contribute to new growth [6] Financial Performance Summary - In 2024, the company achieved revenue of 1.843 billion yuan, a year-on-year decrease of 4.9%, and a net profit attributable to shareholders of 65 million yuan, down 36% year-on-year [4] - The revenue for Q4 2024 was 676 million yuan, showing a significant year-on-year increase of 191%, while the net profit for the same period was 12 million yuan, down 152% year-on-year [4] - The company expects net profits to recover significantly in the coming years, with projections of 125 million yuan in 2025, 190 million yuan in 2026, and 257 million yuan in 2027, representing year-on-year growth rates of 93.2%, 52.4%, and 35.1% respectively [4][5] Business Segment Performance - In 2024, the revenue breakdown by business segment was as follows: cultural and sports equipment 1.072 billion yuan (down 22.72%), digital arts technology 272 million yuan (up 18.14%), rail transit 212 million yuan (up 99.95%), and cultural tourism operations 262 million yuan (up 44.26%) [5] - The gross margins for each segment were 32.3%, 40.8%, 19%, and 40.9% respectively, indicating improvements across the board [5] Order Backlog and Future Prospects - The company has secured significant contracts, including 10 large cultural and tourism integration service projects with a total order value of 804 million yuan, which accounts for approximately 44% of the 2024 revenue [6] - The company’s contract liabilities reached 468 million yuan in Q1 2025, reflecting a year-on-year increase of 65% [6]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has successfully transitioned through a challenging period in its cultural and tourism operations, with a backlog of orders expected to support a return to growth [1] - The company reported a revenue of 1.843 billion yuan in 2024, a year-on-year decrease of 4.9%, and a net profit attributable to shareholders of 65 million yuan, down 36% year-on-year [4] - The company is focusing on optimizing its order structure and reducing high-risk projects, leading to a gradual recovery in revenue [4] - The company has a strong order backlog, with 8.04 billion yuan in new orders announced, representing approximately 44% of its 2024 revenue [6] Financial Summary - In 2024, the company achieved revenues of 1.843 billion yuan, with a year-on-year decline of 4.9% [4] - The net profit attributable to shareholders for 2024 was 65 million yuan, down 36% year-on-year [4] - The company expects net profits to recover significantly in the coming years, with projections of 125 million yuan in 2025, 190 million yuan in 2026, and 257 million yuan in 2027, reflecting year-on-year growth rates of 93.2%, 52.4%, and 35.1% respectively [4] - The company's earnings per share (EPS) are projected to be 0.29 yuan in 2025, 0.44 yuan in 2026, and 0.59 yuan in 2027 [4] - The price-to-earnings (P/E) ratio is expected to decrease from 39.4 in 2025 to 19.2 in 2027, indicating improving valuation metrics [4] Business Segments - In 2024, the revenue breakdown by business segment was as follows: cultural and sports equipment (1.072 billion yuan, down 22.72%), digital art technology (272 million yuan, up 18.14%), rail transit (212 million yuan, up 99.95%), and cultural tourism operations (262 million yuan, up 44.26%) [5] - The company has successfully implemented a full industry chain operating model, with over 20 cultural tourism complex projects in operation by the end of 2024 [5] - The company is exploring new business boundaries, including a joint venture focused on humanoid robot development for cultural and entertainment applications [6]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return exceeding the market benchmark by more than 15% over the next 6-12 months [6]. Core Views - The company demonstrated resilience in its operations, with expectations for humanoid robots to be integrated into tourism and cultural scenarios, contributing to new growth drivers [4]. - The company reported a revenue of 1.84 billion in 2024, a decrease of 4.9% year-on-year, attributed to project delivery delays and the nurturing phase of new businesses [2][4]. - The gross margin improved significantly to 33.4% in 2024, the highest level since 2016, despite an increase in expenses and impairment losses affecting profitability [3][11]. Summary by Sections Financial Performance - In 2024, the company achieved revenue of 1.84 billion, net profit attributable to shareholders of 60 million, and a net profit excluding non-recurring items of 50 million, reflecting year-on-year declines of 4.9%, 36.0%, and 38.7% respectively [1]. - For Q1 2025, the company reported revenue of 290 million, net profit of 30 million, and net profit excluding non-recurring items of 30 million, with year-on-year changes of +0.2%, -3.4%, and -3.9% respectively [1]. Product and Regional Performance - In 2024, revenue from various segments included 1.07 billion from cultural and sports tourism equipment (down 22.7%), 270 million from digital art technology (up 18.1%), 210 million from rail transit equipment (up 100.0%), and 260 million from cultural and sports tourism operation services (up 44.3%) [2]. - Domestic revenue decreased by 18.5% to 1.56 billion, while overseas revenue surged by 1248.4% to 270 million, primarily due to the recognition of income from the Sochi Concert Hall project in Russia [2]. Profitability and Cost Structure - The gross margin for 2024 was 33.4%, an increase of 8.3 percentage points year-on-year, while the net profit margin was 3.4%, a decrease of 1.6 percentage points [3][11]. - The selling, general, and administrative expenses ratio increased to 23.5%, with specific rates for selling, management, financial, and R&D expenses being 7.2%, 13.4%, -2.8%, and 5.7% respectively [3]. Future Outlook and Valuation - The company expects an improvement in order volume due to a recovery in industry conditions following increased local government support for debt [4]. - The forecast for net profit attributable to shareholders is 309 million for 2025, 371 million for 2026, and 460 million for 2027, reflecting significant growth rates [4][5].

Core Viewpoint - The company, Dafeng Industrial, reported a revenue decline in 2024 but demonstrated strong risk resilience through refined operations, while also achieving a slight revenue increase in Q1 2025. Group 1: Financial Performance - In 2024, the company achieved an operating revenue of 1.843 billion yuan, a year-on-year decrease of 4.88% [1] - For Q1 2025, the company reported an operating revenue of 290 million yuan, a year-on-year increase of 0.2% [1] Group 2: Strategic Partnerships and Projects - The company established a strategic partnership with the Asian Olympic Council, becoming the exclusive partner for creative planning and implementation of major event ceremonies [1] - The company secured a contract worth 126 million yuan for the Tajikistan National Theatre project, setting a new record for single cultural projects in Central Asia [1] Group 3: Industry Position and Innovation - The company is recognized as a leading high-tech enterprise in cultural and sports tourism technology, with over 1,000 patents, including more than 250 invention patents [2] - It has been designated as a national cultural technology integration demonstration base and ranked among the top 30 growing cultural enterprises in 2024 [2] - The company aims to focus on strategic renewal, innovation development, and brand enhancement while fostering talent and corporate culture [2]

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。 证券代码：603081 证券简称：大丰实业 公告编号：2025-042 浙江大丰实业股份有限公司 关于召开2024年年度股东大会的通知 重要内容提示： 一、 召开会议的基本情况 (一)股东大会类型和届次 2024年年度股东大会 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 26 日 14 点 00 分 召开地点：浙江省杭州市滨江区白马湖创意城大丰科创中心二楼 207 会议室 股东大会召开日期：2025年5月26日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 5 月 26 日 至2025 年 5 月 26 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的 ...