关于股东大会开设网络投票提示服务的公告 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个别及连带责任。 桂林福达股份有限公司（以下简称"公司"）拟于2025年4月16日9时召开2024年年度股东会，本次会议采 用现场投票和网络投票相结合的表决方式。具体内容请详见公司2025年3月27日披露于上海证券交易所 网站（http://www.sse.com.cn）及指定信息披露媒体的《福达股份关于召开2024年年度股东会的通知》 （公告编号：2025-019）。 证券代码：603166 证券简称：福达股份 公告编号：2025-023 桂林福达股份有限公司 为更好地服务广大中小投资者，确保有投票意愿的中小投资者能够及时参会、便利投票。公司拟使用上 证所信息网络有限公司（以下简称"上证信息"）提供的股东会提醒服务，委托上证信息通过智能短信等 形式，根据股权登记日的股东名册主动提醒股东参会投票，向每一位投资者主动推送股东会参会邀请、 议案情况等信息。投资者在收到智能短信后，可根据《上市公司股东会网络投票一键通服务用户使用手 册》（https://vo ...

证券代码：603166 证券简称：福达股份 公告编号：2025-023 桂林福达股份有限公司 关于股东大会开设网络投票提示服务的公告 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个别及连带责任。 桂林福达股份有限公司（以下简称"公司"）拟于 2025 年 4 月 16 日 9 时召开 2024 年年度股东会，本次会议采用现场投票和网络投票相结合的表决方式。具体内 容请详见公司2025年3月27日披露于上海证券交易所网站（http://www.sse.com.cn） 及指定信息披露媒体的《福达股份关于召开 2024 年年度股东会的通知》（公告编号： 2025-019）。 为更好地服务广大中小投资者，确保有投票意愿的中小投资者能够及时参会、便 利投票。公司拟使用上证所信息网络有限公司（以下简称"上证信息"）提供的股东 会提醒服务，委托上证信息通过智能短信等形式，根据股权登记日的股东名册主动提 醒股东参会投票，向每一位投资者主动推送股东会参会邀请、议案情况等信息。投资 者在收到智能短信后，可根据《上市公司股东会网络投票一键通服务用户使用手册 ...

桂林福达股份有限公司 2024 年年度股东大会会议材料 2025 年 4 月 16 日 股票简称：福达股份 股票代码：603166 桂林福达股份有限公司 GUILIN FUDA CO., LTD 2024 年年度股东大会会议材料 | 4 | y | 1 | 1 | . | 1 | | --- | --- | --- | --- | --- | --- | | | | | | | | | 2024 | | 年年度股东大会会议须知 2 | | --- | --- | --- | | 2024 | | 年年度股东大会会议议程 4 | | 关于 | 2024 | 年年度报告全文及摘要的议案 5 | | 关于 | 2024 | 年度董事会工作报告的议案 6 | | 关于 | 2024 | 年度监事会工作报告的议案 7 | | 关于 | 2024 | 年度财务决算的议案 8 | | 关于 | 2024 | 年度利润分配的预案 9 | | | | 关于提请股东大会授权董事会进行中期分红方案的议案 11 | | 关于 | 2024 | 年度独立董事述职报告的议案 12 | | | | 关于续聘会计师事务所的议案 13 | | ...

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Insights - The company reported a revenue of 1.648 billion yuan for 2024, representing a year-on-year increase of 21.8%, and a net profit of 185 million yuan, up 79.0% year-on-year [5][6] - The fourth quarter of 2024 saw a revenue of 538 million yuan, with a quarter-on-quarter increase of 33.4% and a year-on-year increase of 37.5%, aligning closely with expectations [5] - The company is benefiting from the significant growth in the PHEV market, with projected sales of 5.1385 million units in 2024, a year-on-year increase of 83.4% [7] - The company is expanding its robot business, focusing on the production of planetary gear reducers and collaborating with Changban Technology to enhance its capabilities in precision transmission components [7] Financial Data and Profit Forecast - The company’s total revenue is projected to grow from 1.352 billion yuan in 2023 to 3.806 billion yuan by 2027, with a compound annual growth rate (CAGR) of 18.0% [6][9] - Net profit is expected to increase from 104 million yuan in 2023 to 466 million yuan in 2027, reflecting a CAGR of 18.4% [6][9] - The gross margin is forecasted to stabilize around 25.6% by 2027, with a return on equity (ROE) projected to reach 15.8% [6][9] Business Segment Performance - The crankshaft segment is expected to generate 1.04 billion yuan in revenue for 2024, a year-on-year increase of 41.3%, with a gross margin of 30.3% [7] - The precision forging segment is projected to achieve 200 million yuan in revenue, up 24.9% year-on-year, with a gross margin of 21.6% [7] - The gear segment is anticipated to see a decline in revenue to 92 million yuan, down 7.5% year-on-year, but with an improved gross margin of 14.4% [7]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of —— yuan over the next six months [1]. Core Insights - The company has made significant progress in its transition to new energy and is beginning to enter the robotics sector [1]. - The company achieved a revenue of 1.648 billion yuan in 2024, representing a year-on-year growth of 21.83% [7]. - The net profit attributable to the parent company for 2024 was 185.28 million yuan, with a remarkable year-on-year increase of 78.96% [7]. - The company plans to distribute a cash dividend of 2.00 yuan per 10 shares, reflecting confidence in its financial strength [7]. Financial Performance Summary - **Revenue Forecast**: - 2024A: 1,647.57 million yuan - 2025E: 2,390.19 million yuan (growth rate: 45.07%) - 2026E: 3,166.96 million yuan (growth rate: 32.50%) - 2027E: 3,901.61 million yuan (growth rate: 23.20%) [2][10] - **Net Profit Forecast**: - 2024A: 185.28 million yuan - 2025E: 283.72 million yuan (growth rate: 53.13%) - 2026E: 403.56 million yuan (growth rate: 42.24%) - 2027E: 538.00 million yuan (growth rate: 33.31%) [2][10] - **Earnings Per Share (EPS)**: - 2024A: 0.29 yuan - 2025E: 0.44 yuan - 2026E: 0.62 yuan - 2027E: 0.83 yuan [2][10] - **Return on Equity (ROE)**: - 2024A: 7.74% - 2025E: 10.75% - 2026E: 13.51% - 2027E: 15.62% [2][10] - **Price-to-Earnings (PE) Ratio**: - 2024A: 48 - 2025E: 32 - 2026E: 22 - 2027E: 17 [2][10] Business Expansion and Strategy - The company is expanding its production capacity, aiming for 4 million crankshafts by 2025, with a new super factory expected to start production in July 2025 [8]. - The company has successfully entered the supply chains of major clients such as Geely and BYD, with six new projects confirmed [7][8]. - The subsidiary Alfen has shown significant profit growth, with a revenue increase of 49.9% in 2024 [7]. Dividend and Share Buyback - The company plans to distribute a total cash dividend of 1.77 billion yuan, which represents 95.38% of its net profit for 2024 [7].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of —— yuan over the next six months [1]. Core Insights - The company has made significant progress in its transition to new energy and is beginning to enter the robotics sector, indicating a strategic shift towards high-end intelligent manufacturing [1][7]. - The company reported a revenue of 1.647 billion yuan for 2024, representing a year-on-year growth of 21.83%, with a net profit attributable to the parent company of 185.28 million yuan, up 78.96% year-on-year [7][10]. - The company is expanding its production capacity significantly, aiming for 4 million crankshafts by 2025, with a new super factory expected to start full production in July 2025 [8][10]. Summary by Sections Financial Performance - For 2024, the company achieved a revenue of 1,647.57 million yuan, with projected revenues of 2,390.19 million yuan in 2025, 3,166.96 million yuan in 2026, and 3,901.61 million yuan in 2027, reflecting growth rates of 21.83%, 45.07%, 32.50%, and 23.20% respectively [2][10]. - The net profit attributable to the parent company is expected to grow from 185.28 million yuan in 2024 to 538 million yuan in 2027, with growth rates of 78.96%, 53.13%, 42.24%, and 33.31% respectively [2][10]. Business Segments - The crankshaft business generated 1.036 billion yuan in revenue in 2024, with a growth rate of 41.32% and a gross margin of 30.25% [10]. - The company has successfully entered the supply chains of major clients such as Geely and BYD, with six new projects confirmed, two of which began mass production in 2024 [7][10]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 2.00 yuan per 10 shares for the 2024 fiscal year, amounting to 1.27 billion yuan, which represents 68.34% of the net profit attributable to shareholders [7][10]. - The total planned distribution, including share buybacks, is 1.77 billion yuan, accounting for 95.38% of net profit, demonstrating strong financial confidence [7][10]. Future Outlook - The company forecasts a compound annual growth rate (CAGR) of 42.7% for net profit over the next three years, with expected net profits of 2.8 billion yuan in 2025, 4.0 billion yuan in 2026, and 5.4 billion yuan in 2027 [7][10].

证券代码：603166 证券简称：福达股份 公告编号：2025-022 变更后联系电话:19571855667 桂林福达股份有限公司 关于变更投资者热线电话的公告 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个别及连带责任。 桂林福达股份有限公司（以下简称"公司"）为确保与投资者的正常沟通联系， 更好地服务于广大投资者，现对公司投资者联系电话进行变更，具体情况如下: 变更前联系电话:0773-3681001 桂林福达股份有限公司董事会 2025 年 3 月 29 日 除上述调整外，公司办公地址、投资者关系电子邮箱等其他联系方式保持不变。 敬请广大投资者关注以上变更，由此给您带来的不便，敬请谅解。欢迎广大投资者通 过上述变更后的联系方式与公司沟通交流。 特此公告。 ...

Core Viewpoint - Fuda Co., Ltd. demonstrated strong financial performance in its 2024 annual report, with significant growth in revenue and net profit, particularly in the automotive and internal combustion engine parts sector [2][8]. Financial Performance - Total revenue reached 1.648 billion yuan, a year-on-year increase of 21.83% - Net profit attributable to shareholders was 185 million yuan, up 78.96% - Non-recurring net profit was 180 million yuan, an increase of 82.59% - In Q4, total revenue was 538 million yuan, up 33.41% year-on-year, with net profit of 64.44 million yuan, a 63.36% increase [2]. Profitability Analysis - Gross margin improved to 25.05%, an increase of 12.19% - Net margin rose to 11.25%, up 46.89% - Earnings per share reached 0.29 yuan, an increase of 81.25% - Operating cash flow per share was 0.73 yuan, up 135.73% [3]. Financial Health - Cash and cash equivalents amounted to 216 million yuan, a 42.32% increase - The ratio of cash to current liabilities was only 19.49% - Interest-bearing debt rose to 854 million yuan, an increase of 50.62% - Accounts receivable reached 470 million yuan, up 20.38%, with a ratio to profit of 253.41% [4]. Cost and Expense Control - Total selling, administrative, and financial expenses were 126 million yuan, accounting for 7.62% of revenue, an increase of 3.4% - Administrative expenses increased by 29.88% due to higher employee compensation and stock incentive costs - Financial expenses rose by 27.6% due to increased borrowing costs [5]. Main Business Analysis - Main business revenue primarily comes from automotive and internal combustion engine parts, accounting for 94.61% - Crankshaft revenue was 1.036 billion yuan, representing 62.87% of total revenue with a gross margin of 30.25% - Revenue distribution by region: Central China (22.71%), Northwest (20.32%), and East China (20.17%) [6]. Development Strategy and Outlook - The company will continue to focus on the new energy vehicle industry, emphasizing the development of new energy hybrid crankshafts, electric drive gears, and core components for robotics - Through digital management and technological innovation, the company aims to enhance market competitiveness while remaining vigilant against industry fluctuations and raw material price volatility [7][8].

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting it to outperform the benchmark index by over 20% in the next six months [2][18]. Core Views - The company reported a revenue of 1.65 billion yuan for 2024, a year-on-year increase of 22%, and a net profit attributable to shareholders of 185 million yuan, up 79% year-on-year. The non-recurring net profit was 180 million yuan, reflecting an 83% increase year-on-year [2][4]. - The company is accelerating its transformation into robotics in 2025, with significant growth expected in its core business areas, particularly in the automotive parts sector [2][8]. Financial Performance Summary - **2024 Financial Indicators**: - Total revenue: 1,648 million yuan, with a year-on-year growth of 21.8% [4]. - Net profit attributable to shareholders: 185 million yuan, with a year-on-year growth of 79.0% [4]. - Earnings per share: 0.29 yuan [4]. - Price-to-earnings ratio: 49 times [4]. - Price-to-book ratio: 3.8 times [4]. - **Future Projections**: - Revenue is projected to reach 2,351 million yuan in 2025, with a growth rate of 42.7% [4]. - Net profit is expected to increase to 282 million yuan in 2025, reflecting a growth rate of 52.4% [4]. - Earnings per share are forecasted to rise to 0.44 yuan in 2025 [4]. Business Transformation and Growth - The company is benefiting from increased demand from major clients like BYD, with a significant rise in revenue in the fourth quarter of 2024 [8]. - The company is entering a new expansion cycle in its crankshaft business, with plans to produce 1 million automated new energy hybrid crankshafts by May 2025 [8]. - The robotics transformation is gaining momentum, with the company developing a planetary gearbox product and making strategic investments in related technologies [8].

Core Viewpoint - The company has announced a profit distribution plan for the fiscal year 2024, proposing a cash dividend of RMB 1.00 per 10 shares, subject to shareholder approval [1][2][5]. Profit Distribution Plan Details - The proposed cash dividend distribution is based on a total share capital of 646,208,651 shares, minus 9,519,200 shares held in the company's repurchase account, resulting in a total cash dividend of RMB 63,668,945.10 (including tax) [2]. - The company achieved a consolidated net profit of RMB 185,280,977.88 for 2024, with the parent company reporting a net profit of RMB 298,304,626.71 after statutory surplus reserve allocation [2][4]. - The company plans to maintain the per-share distribution ratio even if there are changes in total share capital before the record date for the dividend distribution [3]. Compliance and Approval - The profit distribution plan has been approved by the company's board of directors and will be submitted for approval at the upcoming shareholder meeting [4][5]. - The company does not fall under any risk warning scenarios as it has a positive net profit and has maintained a cumulative cash dividend exceeding 30% of the average net profit over the last three years [3][4]. Future Considerations - The company is seeking authorization from the shareholder meeting to allow the board to determine the mid-term dividend plan for 2025, with the total cash dividend not exceeding 100% of the net profit attributable to shareholders for that period [5][6].