浙江天成自控股份有限公司 2024 年年度股东大会会议资料 浙江天成自控股份有限公司 （浙江省天台县西工业区） 2024 年年度股东大会 会议资料 2025 年 5 月 19 日 1 浙江天成自控股份有限公司 2024 年年度股东大会会议资料 浙江天成自控股份有限公司 2024 年年度股东大会现场会议议程 2 一、与会人员签到； 二、大会主持人宣布会议开始，介绍本次股东大会的出席情况； 三、宣读公司 2024 年年度股东大会会议须知； 四、选举监票、计票人员； 五、宣读本次会议议案内容 1、《2024 年度董事会工作报告》； 2、《2024 年度监事会工作报告》； 3、《2024 年度利润分配预案》； 4、《2024 年度财务决算报告》； 5、《关于公司及控股子公司向金融机构申请 2025 年度综合授信额度的议案》； 6、《关于拟定 2025 年对子公司担保额度的议案》； 7、《关于聘请 2025 年度审计机构的议案》； 8、《2024 年年度报告及摘要》； 9、《关于制定〈会计师事务所选聘制度〉的议案》； 10、《关于修订〈对外担保管理制度〉的议案》； 11、《关于修订〈公司章程〉的议案》； 12、听取《浙 ...

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company's passenger vehicle business is driving growth, while the recovery in aviation and the low-altitude economy are opening new opportunities [9] Summary by Sections Financial Performance - In 2024, the company's operating revenue was 2.23 billion, a year-on-year increase of 56.27%. However, the net profit attributable to the parent company was -16 million, a year-on-year decrease of 216.30%. The net profit after deducting non-recurring gains and losses was also -16 million, down 292.02%. In Q1 2025, the operating revenue was 539 million, up 46.74% year-on-year, with a net profit of 21 million, an increase of 108.77% year-on-year, and a net profit after deducting non-recurring gains and losses of 15 million, up 47.32% year-on-year [2]. Passenger Vehicle Business Growth - The passenger vehicle business achieved significant growth, with revenue reaching 1.05 billion in 2024, a year-on-year increase of 122.79%. New projects such as SAIC ZS32, Chery CX62D, and Dongfeng S59 contributed to this growth, effectively releasing production capacity and driving sales [3]. Traditional Business and Aviation Recovery - The traditional business, including engineering machinery and commercial vehicle seats, generated revenue of 718 million in 2024, a year-on-year increase of 5.9%. The aviation seat business also saw revenue of 217 million, up 52.89% year-on-year, benefiting from the recovery of the aviation industry [4]. Cost Control and R&D Investment - The company reported a significant increase in net profit in Q1 2025, reaching 2.09 million, with improved cost control. The sales, management, and R&D expense ratios were 1.67%, 8.53%, and 5.94%, respectively, showing a reduction in sales and management expenses while increasing R&D investment [5]. Global Expansion and New Growth Opportunities - The company is accelerating its global layout by establishing multinational subsidiaries and production bases in Singapore, Thailand, and Malaysia, enhancing its ability to respond to international customers and supply products locally [6][7]. Low-altitude Economy and eVTOL Business - The company is actively entering the low-altitude economy sector, leveraging its experience in vehicle and aviation seat manufacturing. It has formed a strategic partnership with Fengfei Aviation for the eVTOL aviation seat project, aiming to become a leading supplier in this niche market [8]. Earnings Forecast and Valuation - The company has adjusted its earnings forecast for 2025-2027, expecting operating revenues of 3.166 billion, 3.704 billion, and 4.075 billion, respectively. The net profit attributable to the parent company is projected to be 152 million, 225 million, and 282 million for the same period. The EPS is expected to be 0.38, 0.57, and 0.71, respectively. The closing price on May 7, 2025, was 11.84, corresponding to PE ratios of 30.84, 20.85, and 16.66 for the next three years [9][11].

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company's passenger vehicle business is driving growth, while the recovery in aviation and the low-altitude economy are opening new opportunities [9] Summary by Sections Financial Performance - In 2024, the company's operating revenue was 2.23 billion, a year-on-year increase of 56.27%; however, the net profit attributable to the parent company was -16 million, a year-on-year decrease of 216.30%. The net profit after deducting non-recurring gains and losses was also -16 million, down 292.02% year-on-year. In Q1 2025, the operating revenue was 539 million, up 46.74% year-on-year, with a net profit of 21 million, an increase of 108.77% year-on-year, and a net profit after deducting non-recurring gains and losses of 15 million, up 47.32% year-on-year [2]. Passenger Vehicle Business Growth - The passenger vehicle business achieved significant growth, with revenue reaching 1.05 billion in 2024, a year-on-year increase of 122.79%. New projects such as SAIC ZS32, Chery CX62D, and Dongfeng S59 contributed to this growth, effectively releasing production capacity and driving sales [3]. Traditional Business Stability - The traditional business, including engineering machinery and commercial vehicle seats, generated revenue of 718 million in 2024, a year-on-year increase of 5.9%. The aviation seat business also saw revenue of 217 million, up 52.89% year-on-year, benefiting from the recovery of the aviation industry [4]. Performance Improvement and Cost Control - The company reported a significant performance improvement, with a net profit of -16.48 million in 2024 and a net profit of 2.09 million in Q1 2025, marking a year-on-year increase of 108.77%. The sales, management, and R&D expense ratios were 1.67%, 8.53%, and 5.94%, respectively, showing a reduction in sales and management expenses [5]. Global Expansion - The company is accelerating its global layout by establishing multinational subsidiaries and production bases in Singapore, Thailand, and Malaysia, enhancing its ability to respond quickly to international customers [6][7]. Low-altitude Economy Initiatives - The company is actively engaging in the low-altitude economy, leveraging its experience in vehicle and aviation seat manufacturing. It has formed a strategic partnership with Fengfei Aviation for the eVTOL aviation seat project, aiming to become a leading supplier in this niche market [8]. Profit Forecast and Valuation - The company has adjusted its profit forecasts for 2025-2027, expecting operating revenues of 3.166 billion, 3.704 billion, and 4.075 billion, respectively. The net profit attributable to the parent company is projected to be 152 million, 225 million, and 282 million for the same period. The earnings per share (EPS) are expected to be 0.38, 0.57, and 0.71, respectively [9][11].

Core Insights - In 2024, Tiancheng Control (603085.SH) reported a significant revenue growth of 56.27%, reaching 2.23 billion yuan, driven primarily by a 122.79% increase in passenger vehicle seat revenue, which became the main growth engine for the company [1][2] - Despite a net loss of 16.48 million yuan due to increased R&D investments and currency fluctuations, the company laid a solid foundation for profit improvement in 2025, with Q1 2025 showing a revenue increase of 46.74% and a net profit of 21 million yuan, marking a turnaround [1][2] - The company is positioned as a hidden champion in the domestic automotive seat sector, leveraging a "vertical integration + horizontal collaboration" development model to build a comprehensive industrial layout across various segments [1][3] Passenger Vehicle Business - In 2024, the passenger vehicle seat segment accounted for 50.42% of total revenue, surpassing the engineering and commercial vehicle segments for the first time, with revenue reaching 1.05 billion yuan [2][3] - The growth in this segment is attributed to successful project launches and effective capacity release, supported by multiple new project approvals that ensure ongoing growth [2][3] - The passenger vehicle seat revenue has increased nearly tenfold from 2018, reflecting the company's ability to capitalize on opportunities in the new energy vehicle market [3] Engineering and Aviation Business - The engineering machinery and commercial vehicle seat segments generated 718 million yuan in revenue, a 5.89% increase, benefiting from industry recovery and improved client acquisition [4] - The aviation seat segment also showed promise, with a 52.89% revenue growth as the aviation industry gradually recovers, supported by new orders from various airlines [4] - The company is focusing on product development tailored to international markets, enhancing its export market share [4] Future Strategy - The company is expanding its production base for passenger vehicle seats in various locations, including Wuhan and Chuzhou, and is investing in local partnerships to better serve regional clients [5] - International expansion is a priority, with plans to establish subsidiaries and production bases in Southeast Asia to support domestic clients' international strategies [5] - The company is entering the emerging low-altitude economy sector, particularly in eVTOL (electric vertical takeoff and landing) aircraft, leveraging its R&D capabilities and certification experience [5] Market Position - Tiancheng Control has established strong partnerships with major automotive manufacturers, enhancing its market presence and reputation [6] - The company aims to continue its growth trajectory by adhering to its mission of providing comfortable and safe seating solutions through technological innovation [6]

浙江天成自控股份有限公司 第五届董事会第十七次会议决议公告 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、董事会会议召开情况 浙江天成自控股份有限公司（以下简称"公司"或"本公司"）第五届董事 会第十七次会议书面通知于 2025 年 4 月 18 日发出，会议于 2025 年 4 月 28 日上 午在浙江省天台县西工业区公司行政楼三楼 8 号会议室以现场结合通讯表决的 方式召开。本次会议由董事长陈邦锐先生召集并主持，应出席董事 7 名，实际出 席 7 名（其中以通讯表决方式出席的 3 名董事为朱西产、杨萱、张新丰）。公司 全体监事、高级管理人员列席本次会议。本次会议的召开符合《公司法》及《公 司章程》的规定，合法有效。 证券代码：603085 证券简称：天成自控 公告编号：2025-024 表决结果：7 票同意，0 票反对，0 票弃权。 （二）审议通过《2024 年度董事会工作报告》 本议案还需提交股东大会审议。 二、董事会会议审议情况 表决结果：7 票同意，0 票反对，0 票弃权。 （三）审议通过《2024 年度利润分 ...

重要内容提示： 2024 年度利润分配预案为：不进行利润分配，亦不进行资本公积金转增 股本。 证券代码：603085 证券简称：天成自控 公告编号：2025-026 浙江天成自控股份有限公司 关于公司 2024 年度拟不进行利润分配的公告 本公司监事会及全体监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。 本次利润分配预案已经浙江天成自控股份有限公司（以下简称"公司"） 第五届董事会第十七次会议、第五届监事会第十三次会议审议通过，尚需提交公 司股东大会审议。 公司不触及《上海证券交易所股票上市规则》第 9.8.1 条第一款第（八） 项规定的可能被实施其他风险警示的情形。 一、公司 2024 年度利润分配方案内容 （一）利润分配方案的具体内容 经天健会计师事务所（特殊普通合伙）审计，公司 2024 年度实现归属于上 市公司股东的净利润-1,648.13 万元，母公司实现净利润-1,659.82 万元。截至 2024 年 12 月 31 日，母公司可分配利润-27,983.18 万元。 鉴于公司 2024 年度可供分配利润为负数，不满足《公司章程》规 ...

浙江天成自控股份有限公司 关于注销 2022 年股票期权激励计划 部分股票期权的公告 证券代码：603085 证券简称：天成自控 公告编号：2025-030 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： 本次股票期权拟注销数量：472 万份 浙江天成自控股份有限公司（以下简称"公司"或"天成自控"）于 2025 年 4 月 28 日召开第五届董事会第十七次会议和第五届监事会第十三次会议，审 议通过了《关于注销 2022 年股票期权激励计划部分股票期权的议案》，同意对已 离职激励对象及第三个行权期公司业绩考核未达标导致不符合行权条件对应的 合计 472 万份股票期权进行注销。现将相关事项公告如下： 符合行权条件对应的合计 472 万份股票期权进行注销。 一、公司 2022 年股票期权激励计划已履行的程序 1、2022 年 4 月 22 日，公司召开第四届董事会第九次会议，审议通过了《关 于〈浙江天成自控股份有限公司 2022 年股票期权激励计划（草案）及其摘要〉 的议案》《关于〈浙江天成自控股份有限公司 202 ...

目 录 1、 专项审计报告 2、 附表 委托单位：浙江天成自控股份有限公司 审计单位：天健会计师事务所（特殊普通合伙） 联系电话： 非经营性资金占用及其他关联资金往来情况的 专项审计说明 天健审〔2025〕9340 号 浙江天成自控股份有限公司全体股东： 关于浙江天成自控股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审计报告 我们接受委托，审计了浙江天成自控股份有限公司（以下简称天成自控公 司）2024 年度财务报表，包括 2024 年 12 月 31 日的合并及母公司资产负债表， 2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并及母公司所 有者权益变动表，以及财务报表附注，并出具了审计报告。在此基础上，我们 审计了后附的天成自控公司管理层编制的 2024 年度《非经营性资金占用及其他 关联资金往来情况汇总表》（以下简称汇总表）。 一、对报告使用者和使用目的的限定 本报告仅供天成自控公司年度报告披露时使用，不得用作任何其他目的。 我们同意将本报告作为天成自控公司年度报告的必备文件，随同其他文件一起 报送并对外披露。 为了更好地理解天成自控公司 2024 年度非经营性资金占用 ...

目 录 一、内部控制审计报告…………………………………………第 1—2 页 内部控制审计报告 天健审〔2025〕9349 号 浙江天成自控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 们审计了浙江天成自控股份有限公司（以下简称天成自控公司）2024 年 12 月 31 日的财务报告内部控制的有效性。 二、注册会计师的责任 一、企业对内部控制的责任 按照《企业内部控制基本规范》《企业内部控制应用指引》以及《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，并评价其有效性是天成 自控公司董事会的责任。 四、财务报告内部控制审计意见 我们认为，天成自控公司于 2024 年 12 月 31 日按照《企业内部控制基本规 第 1 页 共 2 页 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。 天健会计师事务所（特殊普通合伙） 中国注册会计师： 中国·杭州 中国注册会计师： 二〇二五年四月二十八日 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于 情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度 ...

东方证券股份有限公司 关于浙江天成自控股份有限公司 2024 年度募集资金存放与使用情况的专项核查意见 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 1、2016 年非公开发行股票募集资金情况 经中国证券监督管理委员会《关于核准浙江天成自控股份有限公司非公开发 行股票的批复》（证监许可〔2016〕1800 号）核准，公司由主承销商东方花旗 证券有限公司（后更名为东方证券承销保荐有限公司，已由东方证券股份有限公 司吸收合并，下同）向特定对象非公开发行人民币普通股（A 股）股票 11,917,743 股，发行价为每股人民币 42.55 元，共计募集资金 50,710.00 万元，坐扣承销费 和保荐费 1,014.20 万元后的募集资金为 49,695.80 万元，已由主承销商东方花旗 证券有限公司于 2016 年 9 月 12 日汇入公司募集资金监管账户。另减除会计师费、 律师费等其他发行费用 179.79 万元后，公司本次募集资金净额为 49,516.01 万元。 上述募集资金到位情况业经天健会计师事务所（特殊普通合伙）验证，并由其出 具《验资报告》（天健验〔2016〕374 号）。 2、2019 ...