本次会议是否有否决议案：无 证券代码：603187 证券简称：海容冷链 公告编号：2025-026 青岛海容商用冷链股份有限公司 2024年年度股东大会决议公告 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。 重要内容提示： 二、 议案审议情况 (一) 非累积投票议案 1、 议案名称：关于《公司 2024 年度董事会工作报告》的议案 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 408 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 150,290,999 | | 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（%） | 39.3059 | (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。 本次股东大会由公司董事会召集，董事长邵伟先生主持。会议采用现场投票 与网络投票相结合的方式进行表决。本次会议的召集、召开程序和表决方式符合 《公司法》及《公司章程》的有关规定。 (一) 股东大会召开的时间：2025 年 5 月 ...

上海锦天城（青岛）律师事务所 关于青岛海容商用冷链股份有限公司 2024 年年度股东大会的 地址：青岛市市南区香港中路 8 号青岛中心大厦 45 层 电话：0532-55769077 传真：0532-55769155 邮编：266071 法律意见书 青岛海容商用冷链股份有限公司 锦天城·法律意见书 上海锦天城（青岛）律师事务所 关于青岛海容商用冷链股份有限公司 2024 年年度股东大会的 法律意见书 致青岛海容商用冷链股份有限公司： 上海锦天城（青岛）律师事务所（以下简称"本所"）接受青岛海容商用冷 链股份有限公司（以下简称"公司"或"海容冷链"）的委托，指派杜太山、姜 宏辉律师出席了公司于 2025 年 5 月 29 日召开的 2024 年年度股东大会（以下简 称"本次股东大会"）。现根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）和《上市公司股东大会规则》 （以下简称"《股东大会规则》"）等法律、行政法规、规范性文件以及《青岛海 容商用冷链股份有限公司章程》（以下简称"《公司章程》"）的规定，对本次股东 大会会议的召集、召开程序是否符合法律、行政 ...

2024 年年度股东大会会议资料 青岛海容商用冷链股份有限公司 Qingdao Hiron Commercial Cold Chain Co.,Ltd. | 2024 年年度股东大会会议须知 | 1 | | | --- | --- | --- | | 2024 年年度股东大会会议议程 | 3 | | | 议案一：关于《公司 2024 年度董事会工作报告》的议案 5 | | | | 议案二：关于《公司 2024 年度监事会工作报告》的议案 12 | | | | 议案三：关于《公司 2024 年度财务决算报告》的议案 17 | | | | 议案四：关于《公司 2024 年度利润分配预案》的议案 21 | | | | 议案五：关于《公司 2024 年度独立董事述职报告》的议案 22 | | | | 议案六：关于《公司 2024 年度募集资金存放与实际使用情况的专项报告》的议案 | | 49 | | 议案七：关于《公司 2024 年年度报告》全文及摘要的议案 65 | | | | 议案八：关于续聘公司 2025 年度审计机构的议案 66 | | | | 议案九：关于公司向银行申请 2025 年度综合授信额度的议案 6 ...

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。 根据《上市公司股权激励管理办法》《上海证券交易所上市公司自律监管指 南第 2 号—业务办理》（第八号—股权激励计划股票期权自主行权）《青岛海容商 用冷链股份有限公司 2021 年股票期权与限制性股票激励计划（草案）》及中国证 券登记结算有限责任公司上海分公司关于股票期权自主行权的相关规定，并结合 青岛海容商用冷链股份有限公司（以下简称"公司"）2024 年年度权益分派实施 计划，现对公司 2021 年股票期权与限制性股票激励计划之股票期权自主行权时 间进行限制，本次限制行权具体情况如下： 一、公司 2021 年股票期权与限制性股票激励计划首次授予的股票期权已于 2024 年 7 月 19 日进入第三个行权期（期权代码：0000000740），行权起止日期 为 2024 年 7 月 19 日至 2025 年 7 月 18 日，目前处于行权阶段。 公司 2021 年股票期权与限制性股票激励计划预留授予的股票期权已于 2024 年 12 月 20 日进入第三个行权期（期权代码：0 ...

Core Points - The company will hold an online interactive meeting on May 12, 2025, from 15:00 to 17:00 to discuss its 2024 annual performance and financial indicators [2][3] - Investors can submit questions from May 6 to May 9, 2025, via the company's email for discussion during the meeting [2][3] - The meeting will be accessible through the "Panorama Roadshow" website, WeChat, or the Panorama Roadshow app, allowing for broad investor participation [3][5] Meeting Details - Meeting Date and Time: May 12, 2025, from 15:00 to 17:00 [2][3] - Meeting Location: "Panorama Roadshow" website (http://rs.p5w.net) [2][3] - Meeting Format: Online text interaction [2][3] Participants - Key executives attending include Chairman/General Manager Mr. Shao Wei, Secretary of the Board Mr. Zhao Dingyong, and Financial Director Mr. Wang Yanrong [3] Investor Participation - Investors can participate remotely and are encouraged to engage in discussions regarding governance, development strategy, operational status, financing plans, equity incentives, and sustainable development [3][5] - Questions can be submitted via email before the meeting for the company to address during the session [2][3]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - The company reported a revenue of 2.831 billion yuan in 2024, a year-on-year decrease of 11.67%, with a net profit attributable to shareholders of 354 million yuan, down 14.39% year-on-year. In Q4 2024, the company achieved a revenue of 721 million yuan, an increase of 2.09% year-on-year, and a net profit of 81.73 million yuan, up 42.56% year-on-year. For Q1 2025, the revenue was 909 million yuan, a year-on-year increase of 6.74%, while the net profit decreased by 9.20% year-on-year to 104 million yuan [2][4][10] Summary by Sections Financial Performance - In 2024, the company experienced a decline in revenue, with a notable drop in the commercial frozen display cabinet segment, which saw a year-on-year decrease of 27.70%. However, the commercial refrigerated display cabinet segment grew by 25.95% due to successful market expansion. The company maintained a stable market share despite the challenges [10] - The gross profit margin for 2024 decreased by 0.94 percentage points, influenced by a reduction in high-margin business revenue. The operating profit for 2024 decreased by 19.94% year-on-year, while Q4 2024 saw a significant recovery with a 147.09% increase in operating profit [10][14] Future Outlook - The company is focusing on the commercial cold chain equipment industry and has established a strong competitive advantage in the frozen display cabinet sector. The brand influence of its refrigerated and supermarket display cabinets is rapidly increasing, and the company is proactively expanding into smart display cabinets, indicating significant growth potential in the future. The projected net profits for 2025-2027 are 376 million, 402 million, and 437 million yuan, respectively, with corresponding price-to-earnings ratios of 11.4, 10.7, and 9.8 times [10][14]

证券代码：603187 证券简称：海容冷链 公告编号：2025-024 青岛海容商用冷链股份有限公司 关于参加 2025 年青岛辖区上市公司 投资者网上集体接待日暨 2024 年度业绩说明会活动的公告 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法律责任。 重要内容提示： 为进一步加强与投资者的互动交流，青岛海容商用冷链股份有限公司（以下 简称"公司"）将参加由青岛证监局指导，青岛市上市公司协会与深圳市全景网 络有限公司联合举办的"2025 年青岛辖区上市公司投资者网上集体接待日暨 2024 年度业绩说明会活动"，现将相关事项公告如下： 一、说明会类型 本次说明会以网络文字互动形式召开，公司将针对 2024 年年度的经营成果 及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内 就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 会议召开时间：2025 年 5 月 12 日（周一）15:00-17:00 会议召开地点："全景路演"网站（http://rs.p5w.net） 会议召开方式：网络文字互动 预征集 ...

Core Viewpoint - The company reported a decline in revenue and net profit for 2024, but showed signs of recovery in Q4 2024 and Q1 2025, with expectations for improved performance in 2025 driven by overseas market expansion and operational adjustments [1][2][4]. Financial Performance - In 2024, the company achieved revenue of 2.83 billion yuan, a decrease of 11.7% year-on-year, with a net profit of 350 million yuan, down 14.4% [1][3]. - Q4 2024 revenue was 720 million yuan, an increase of 2.1% year-on-year, while net profit for the same period was 80 million yuan, up 42.6% [1][3]. - For Q1 2025, revenue reached 910 million yuan, a year-on-year increase of 6.7%, but net profit decreased by 9.2% to 100 million yuan [1][2]. Product Performance - Revenue breakdown for 2024 showed frozen/cooling/supermarket/intelligent cabinets generated 1.51 billion, 720 million, 280 million, and 170 million yuan respectively, with declines in frozen cabinets by 27.7% and growth in cooling cabinets by 26.0% [2][3]. - The weak performance of frozen cabinets was attributed to overall insufficient downstream demand [2]. Profitability Metrics - The company's net profit margin for 2024 was 12.5%, down 0.4 percentage points year-on-year, with a gross margin of 27.8%, a decrease of 1.9 percentage points [3]. - In Q1 2025, the gross and net profit margins were 25.4% and 11.4% respectively, reflecting a year-on-year decline of 2.1 and 2.2 percentage points [3]. Market Outlook - The company anticipates further improvement in operations for 2025, particularly in the Indonesian market, which is expected to accelerate revenue growth due to the lifting of import quotas [4]. - The establishment of overseas production bases is projected to mitigate tariff uncertainties and enhance international customer acquisition [4]. Investment Recommendations - The company is expected to achieve double-digit revenue growth in 2025, with an adjusted EPS forecast of 0.98 yuan for 2025 and 1.09 yuan for 2026, alongside a new forecast of 1.22 yuan for 2027 [4]. - The target price is maintained at 13.2 yuan, corresponding to a 13x PE for 2025, with a "strong buy" rating [4].

Core Viewpoint - The company reported a decline in revenue and net profit for 2024, with a slight recovery in Q1 2025, indicating mixed performance in the market [1][4]. Financial Performance - In 2024, the company achieved revenue of 2.83 billion yuan, a year-on-year decrease of 11.7%, and a net profit attributable to shareholders of 350 million yuan, down 14.4% [1]. - For Q4 2024, the company reported revenue of 720 million yuan, a year-on-year increase of 2.1%, and a net profit of 80 million yuan, up 42.6% [1]. - In Q1 2025, the company generated revenue of 910 million yuan, a year-on-year increase of 6.7%, with a net profit of 100 million yuan, down 9.2% [1]. Sales Performance by Product - The company sold 1.063 million units in 2024, a decline of 16.8% year-on-year [2]. - Revenue from frozen display cabinets was 1.51 billion yuan, down 17.9%, attributed to reduced domestic demand and export restrictions in Southeast Asia [2]. - Revenue from refrigerated display cabinets increased to 720 million yuan, up 26%, driven by order surges from North American clients [2]. - Revenue from supermarket display cabinets grew to 280 million yuan, up 25.6% [2]. - Revenue from smart vending machines was 1.74 billion yuan, a slight decrease of 0.8% [2]. Profitability Analysis - The company's gross margin for 2024 was 27.8%, a decrease of 1.9 percentage points year-on-year [3]. - Gross margins for different product lines were 35.3% for frozen display cabinets, 14% for refrigerated display cabinets, 21.7% for supermarket display cabinets, and 22.1% for smart vending machines [3]. - The net profit margin for 2024 was 12.5%, down 0.4 percentage points year-on-year [3]. Future Earnings Forecast - The company is projected to have earnings per share (EPS) of 1.02 yuan, 1.18 yuan, and 1.35 yuan for the years 2025, 2026, and 2027, respectively [4].

Investment Rating - The report maintains a "Hold" rating for the company [1] Core Insights - The company reported a significant revenue growth in Q1, but the change in product structure has put pressure on the gross margin [1] - The company achieved a revenue of 2.83 billion yuan in 2024, a year-on-year decrease of 11.67%, and a net profit attributable to the parent company of 353.66 million yuan, down 14.39% year-on-year [8] - The company is expected to see a recovery in revenue growth from 2025 onwards, with projected revenues of 3.19 billion yuan in 2025, 3.63 billion yuan in 2026, and 3.99 billion yuan in 2027 [3][10] Financial Performance Summary - In 2024, the company achieved a gross margin of 27.8%, down 1.9 percentage points year-on-year, with specific margins for different product lines: 35.3% for frozen display cabinets, 14% for refrigerated display cabinets, 21.7% for supermarket display cabinets, and 22.1% for smart vending machines [8] - The company’s net profit margin for 2024 was 12.5%, a decrease of 0.4 percentage points year-on-year [8] - The company’s earnings per share (EPS) are projected to be 1.02 yuan in 2025, 1.18 yuan in 2026, and 1.35 yuan in 2027 [3][10] Revenue and Growth Projections - The company’s total revenue is expected to grow at a rate of 12.63% in 2025, 14.00% in 2026, and 9.77% in 2027 [3][10] - The revenue from frozen display cabinets is projected to grow by 5% in 2025, 15% in 2026, and 10% in 2027, while refrigerated display cabinets are expected to see growth rates of 30%, 15%, and 10% respectively during the same period [9][10] Market Position and Strategy - The company holds a leading market share and brand influence in the frozen display cabinet sector, with a comprehensive coverage of mainstream beverage brands in the domestic market [8] - The growth in refrigerated display cabinets is attributed to North American customers placing orders in anticipation of tariff changes [8]