Core Viewpoint - The company is preparing for its 2024 Annual General Meeting (AGM) scheduled for May 16, 2025, to discuss various proposals including financial reports, profit distribution, and the appointment of auditors [1][2][3]. Group 1: Meeting Agenda and Procedures - The AGM will include the introduction of shareholders, voting methods, and the review of multiple proposals [1][2]. - Shareholders have the right to speak and ask questions during the meeting, with a requirement to register in advance [2][3]. - Voting will be conducted both on-site and via the Shanghai Stock Exchange's online voting system, with specific time slots designated for each [3][4]. Group 2: Financial Reports and Proposals - The board will present the 2024 Annual Work Report and the Supervisory Board's Work Report for shareholder approval [5][6]. - The company achieved a net profit of CNY 184.15 million in 2024, proposing a cash dividend of CNY 10.00 per 10 shares, totaling CNY 160.44 million, which represents 87.13% of the net profit [7][8]. - The company plans to renew its audit engagement with Rongcheng Accounting Firm for the 2025 fiscal year, with audit fees set at CNY 900,000 [8][9]. Group 3: Management Compensation - The actual salary of the Chairman for 2024 is reported at CNY 7.75 million, while total compensation for senior management amounts to CNY 8.88 million [9][10]. - Independent directors received a total of CNY 285,800 in allowances for the year [10]. Group 4: Guarantees and Financing - The company intends to provide guarantees for its wholly-owned subsidiary in Mexico, ETRON-ELB S. DE R.L. DE C.V., for a bank credit line of CNY 2 million [12][13]. - The subsidiary's financial status shows total assets of CNY 4.20 million and liabilities of CNY 6.39 million as of Q1 2025, indicating a negative net asset position [13]. Group 5: Governance and Regulatory Compliance - The company plans to amend its Articles of Association and governance rules to comply with new regulations from the China Securities Regulatory Commission [14].

苏州易德龙科技股份有限公司 2024 年年度股东大会会议资料 | 目录 | | | | | --- | --- | --- | --- | | 2024 年年度股东大会议程 | | 3 | | | 2024 年年度股东大会会议须知 | | 5 | | | 2024 年年度股东大会议案表决办法 | | 6 | | | 议案一、关于公司 2024 年度董事会工作报告的议案 | | | 7 | | 议案二、关于公司 2024 年度监事会工作报告的议案 | | | 8 | | 议案三、关于公司 2024 年度独立董事述职报告的议案 | | | 9 | | 议案四、关于公司 2024 年度财务决算报告的议案 | | | 10 | | 议案五、关于公司 2024 年度利润分配预案的议案 | | | 11 | | 议案六、关于公司 2024 年年度报告及其摘要的议案 | | | 12 | | 议案七、关于续聘容诚会计师事务所（特殊普通合伙）为公司 | | 2025 | 年度财务、 | | 内控审计机构的议案 | | | 13 | | 议案八、关于 年度公司董事长实际薪酬情况的议案 | 2024 | | 14 | | 议案九 ...

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 30.66 CNY, maintaining the rating [4]. Core Views - The company achieved a revenue of 2.161 billion CNY in 2024, a year-on-year increase of 12.74%, and a net profit of 184 million CNY, up 38.16% year-on-year. The first quarter of 2025 saw a revenue of 549 million CNY, growing 21.68% year-on-year, with a net profit of 42 million CNY, an increase of 34.19% year-on-year [1][2]. - The industrial control and communication sectors are rapidly growing, with industrial control product revenue reaching 1.025 billion CNY (up 32.07% year-on-year) and communication products growing to 369 million CNY (up 39.65% year-on-year) [2]. - The company is actively pursuing a global strategy, with domestic sales of 1.222 billion CNY (up 14.60% year-on-year) and overseas sales of 938 million CNY (up 10.33% year-on-year) in 2024 [3]. Summary by Sections Financial Performance - In 2024, the company reported a revenue of 2.161 billion CNY and a net profit of 184 million CNY, with a significant increase in net profit margin to 8.5% [10]. - The projected revenues for 2025-2027 are 2.507 billion CNY, 2.829 billion CNY, and 3.204 billion CNY, respectively, with net profits expected to be 234 million CNY, 275 million CNY, and 332 million CNY [9][10]. Business Segments - The industrial control segment contributed 1.025 billion CNY to revenue, while the communication segment reached 369 million CNY, indicating strong growth in these areas [2]. - Medical electronics, automotive electronics, and consumer electronics generated revenues of 320 million CNY, 277 million CNY, and 93 million CNY, respectively, with varying growth rates [2]. Global Strategy - The company is enhancing its global presence with factories in Mexico, Romania, and Vietnam, which are expected to boost overseas sales and improve supply chain efficiency [3][8]. - The domestic market remains strong, with a focus on maintaining relationships with key clients, while the international market is anticipated to grow due to improved operational capabilities [3].

证券代码：603380 证券简称：易德龙 公告编号：2025-019 苏州易德龙科技股份有限公司 关于新加坡全资子公司对外设立全资子公司的进展公告 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。 一、对外投资基本情况 苏州易德龙科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召 开了公司第四届董事会第四次会议，审议通过了《关于对新加坡全资子公司实施 增资及再投资设立全资子公司的议案》，同意公司二级全资子公司 EAH Singapore Pte. Ltd.（以下简称"EAH"或"新加坡公司"）使用自有资金 300 万美元，对 外投资新设全资子公司 ETRON APEX TECH PTE. LTD.（以下简称"ETRON APEX"）。 具 体 内 容 详 见 公 司 于 2025 年 4 月 26 日 公 告 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《苏州易德龙科技股份有限公司关于对新加坡全资子 公司实施增资及再投资设立全资子公司的公告》（公告编号：2025-01 ...

Group 1: Yidelong - Yidelong is addressing geopolitical challenges in 2024 through global layout and differentiated strategies, significantly enhancing overseas factory capacity [1] - The company's R&D focuses on motors, power supplies, battery management, and automation, aiming to improve customer satisfaction through customized development [1] - Yidelong is performing well in industrial control, medical, and communication sectors, while focusing on commercial vehicles in the automotive sector [1] - Cost reduction is achieved through supply chain management optimization, and the company is increasing its dividend payout ratio based on a healthy balance sheet and sufficient cash flow without affecting capital expenditures [1] Group 2: Guangdong Hongda - In Q1, Guangdong Hongda's gross margin for civil explosives increased compared to the same period last year, showing overall stability despite short-term market price and raw material price fluctuations [2] - The company anticipates an increase in gross margin for civil explosive products as the industry consolidation accelerates, although regional differences in market conditions may lead to structural variations in margins [2] - Revenue growth in Xinjiang is attributed to new contracts in mining services, while business expansion in Tibet is driven by successful operations at major mining projects [2] - The company is implementing a "going out" strategy, focusing on overseas markets along the Belt and Road Initiative, particularly in South America and South Africa [2] - Increased equipment procurement and other expenditures in Q1 resulted in a cash outflow due to expanded business scale, with plans to gradually inject civil explosive capacity into Xuefeng Technology based on market demand [2] Group 3: Jingzhida - In 2024, Jingzhida's gross margin for new display business lines is declining due to changes in product structure, with a reduced proportion of Cell segment products [3] - The semiconductor business line's revenue share has risen to over 30%, with core components of testing machines being self-sourced, leading to improved gross margins [3] - By Q1 2025, the revenue share of the semiconductor business line is expected to exceed 70%, causing fluctuations in overall gross margin due to product structure changes [3] - The company is advancing the localization of core components for storage testing machines to ensure supply chain security and enhance gross margins [3]

证券代码：603380 证券简称：易德龙 公告编号：2025-018 苏州易德龙科技股份有限公司 关于 5%以上股东所持有的部分股份质押的公告 | | 是否 为控 | 本次质押 | 是否 | 是否 | 质押起始 | 质押到期 | | 占其所 | 占公司 | 质押 融资 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | | | 为限 | 补充 | | | 质权人 | 持股份 | 总股本 | | | 名称 | 股股 | 股数 | 售股 | 质押 | 日 | 日 | | 比例 | 比例 | 资金 | | | 东 | | | | | | | | | 用途 | | | | | | | | | 南京证券 | | | 个人 | | 王明 | 否 | 3,770,000 | 否 | 是 | 2025/4/24 | 2026/4/24 | 股份有限 | 18.38% | 2.35% | 资金 | | | | | | | | | 公司 | | | 需要 | 1、本次股份质押基本情况 2、本次质押股份未被用作重大资产重组业绩补偿 ...

证券研究报告·公司点评报告·消费电子 易德龙（603380） 2024 年报&2025 年一季报点评：强化全球制 造能力，全球化布局助力成长 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 1,917 | 2,161 | 2,502 | 2,850 | 3,210 | | 同比（%） | (2.86) | 12.74 | 15.79 | 13.90 | 12.63 | | 归母净利润（百万元） | 133.28 | 184.15 | 241.82 | 283.14 | 333.72 | | 同比（%） | (25.35) | 38.16 | 31.32 | 17.09 | 17.86 | | EPS-最新摊薄（元/股） | 0.83 | 1.15 | 1.51 | 1.76 | 2.08 | | P/E（现价&最新摊薄） | 26.37 | 19.09 | 14.54 | 12.42 | 10.53 | [Tab ...

Core Viewpoint - The company, Yidelong, reported significant growth in its 2024 annual report, with total revenue reaching 2.161 billion yuan, a year-on-year increase of 12.74%, and a net profit of 184 million yuan, reflecting a substantial growth of 38.16% [1] Group 1: Global Expansion and Performance - Yidelong's global expansion strategy initiated in 2019 has shown significant results in 2024, with production capacity in factories located in Mexico, Romania, and Vietnam rapidly increasing [4] - The Romanian factory has successfully entered the ramp-up and operational optimization phase, contributing to overall performance [4] - The company has established sales offices and engineering support teams in key markets like the USA and Germany, enhancing customer service and developing new industrial clients [4] Group 2: Supply Chain Management and Cost Control - In 2024, Yidelong achieved notable success in supply chain management by implementing a comprehensive price control tool from demand release to material receipt [5] - The company utilizes the SAP system for monthly analysis of procurement requests and weekly optimization of procurement channels, ensuring effective cost management [5] - Yidelong has actively sought competitive suppliers and developed alternative materials, reducing both product and procurement costs [5] Group 3: Research and Development Innovation - Yidelong continues to drive business growth through research and development, enhancing its R&D team to meet the specific needs of clients in industrial and medical sectors [6] - The company has optimized production processes and increased automation investments, particularly for high-volume products, to improve efficiency [6] - Consistency in operations across overseas companies and the Suzhou headquarters is maintained through shared technical support teams and IT systems, ensuring effective global product replication [6]

苏州易德龙科技股份有限公司 2024 年度监事会工作报告 作为苏州易德龙科技股份有限公司(以下简称"公司")的监事会，我们严格 遵守《公司法》、《公司章程》及其它法律、法规要求，忠实勤勉地履行监事职责， 任期内认真审议监事会的各项议案，围绕董事会形成的决议、股东大会通过的决 议，认真履行职责，对公司的经营工作进行检查，维护股东权益，保证公司各项 工作规范运作。经核查确认，公司监事会成员均出席了2024年度公司监事会全部 相关会议。现将2024年度履职情况报告如下: 一、监事会会议情况 2024年度，按照《公司章程》、《监事会议事规则》的相关规定，监事会共召 开7次会议，会议召开及审议情况如下: 1、2024年4月24日，公司召开了第三届监事会第十九次会议，会议审议通过 了以下议案:（1）《关于公司2023年度监事会工作报告的议案》（2）《关于公司2023 年度财务决算报告的议案》（3）《关于公司2023年度利润分配预案的议案》（4） 《关于公司2023年年度报告及其摘要的议案》（5）《关于续聘大华会计师事务所 （特殊普通合伙）为公司2024年度财务、内控审计机构的议案》（6）《关于2023 年度公司监事实际薪 ...

证券代码：603380 证券简称：易德龙 公告编号：2025-016 苏州易德龙科技股份有限公司 关于对新加坡全资子公司实施增资及再投资 设立全资子公司的公告 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。 重要内容提示： 投资标的名称： 1. EAH SINGAPORE PTE. LTD.（以下简称"EAH",系公司二级子公司，ELB 全资子公司，ELB 拟以自有资金增资 EAH） 2. ETRON APEX TECH PTE. LTD.（具体以工商核名为准，以下简称"新加坡 公司"或"EAT"） 投资金额： 3. 公司香港全资子公司易路宝国际有限公司（以下简称"ELB"）拟以自有 资金对 EAH 增资 300 万美元 1. EAH 拟新设新加坡公司注册资本 300 万美元 本事项已经苏州易德龙科技股份有限公司（以下简称"公司"或"易德 龙"）第四届董事会第四次会议、第四届监事会第四次会议审议通过。 相关风险提示： 本次投资需经政府相关部门的备案及审批。本次投资设立公司存在一定的境 外资产安全性风险和跨境管理风险，但对 ...