浙江力聚热能装备股份有限公司 关于使用暂时闲置的募集资金进行现金管理 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法律责任。 证券代码：603391 证券简称：力聚热能 公告编号：2025-026 重要内容提示： 现金管理产品的基本情况 | 产品名称 | 大额存单、收益凭证 | | --- | --- | | 受托方名称 | 农业银行、中信银行、中信证券 | | 购买金额 | 34,500 万元 | | 产品期限 | 三个月、六个月 | | 特别风险提示（如有请勾选） | 其他：不适用 | 已履行的审议程序 浙江力聚热能装备股份有限公司（以下简称"公司"）于 2025 年 8 月 20 日 召开第二届董事会第七次会议和第二届监事会第五次会议，审议通过《浙江力聚 热能装备股份有限公司关于使用暂时闲置募集资金进行现金管理的议案》，同意 公司使用不超过 40,000 万元（含 40,000 万元）的暂时闲置募集资金，购买安全 性高、流动性好的理财产品，包括银行、证券公司等金融机构发行的理财产品， 有效期自董事会审议通过之日起 1 ...

Group 1 - The core viewpoint of the news is that Lijun Thermal Energy's stock has experienced fluctuations, with a current price of 52.03 CNY per share, reflecting a year-to-date increase of 27.40% [1] - As of September 30, the company has a market capitalization of 4.735 billion CNY, with a trading volume of 20.87 million CNY and a turnover rate of 1.73% [1] - The company's main business involves the research, production, and sales of hot water and steam boilers, with industrial boilers accounting for 93.56% of its revenue [1] Group 2 - For the first half of 2025, Lijun Thermal Energy reported a revenue of 404 million CNY, a year-on-year decrease of 11.60%, and a net profit of 52.55 million CNY, down 32.66% compared to the previous year [2] - The company has distributed a total of 227 million CNY in dividends since its A-share listing [3] - As of June 30, 2025, the top ten circulating shareholders include significant institutional investors, with notable increases in holdings from Taikang Quality Life Mixed A and Taikang Strategy Preferred Mixed [3]

Core Viewpoint - The financial performance of Lijun Thermal Energy shows a decline in revenue and net profit, indicating potential challenges ahead for the company [2][3]. Group 1: Financial Performance - As of September 19, Lijun Thermal Energy reported a revenue of 404 million yuan for the first half of 2025, a year-on-year decrease of 11.60% [2]. - The net profit attributable to the parent company for the same period was 52.55 million yuan, reflecting a year-on-year decline of 32.66% [2]. - Cumulative cash dividends since the company's A-share listing amount to 227 million yuan [3]. Group 2: Shareholder and Market Activity - As of September 26, the number of shareholders for Lijun Thermal Energy was 7,199, a decrease of 11.36% from the previous period [2]. - The average number of circulating shares per shareholder increased by 12.82% to 3,160 shares [2]. - On September 26, the company experienced a net financing outflow of 792.33 million yuan, with a total financing balance of 966.36 million yuan, representing 8.23% of the market capitalization [1]. Group 3: Institutional Holdings - As of June 30, 2025, the third-largest circulating shareholder was Taikang Quality Life Mixed Fund A, holding 400,000 shares, an increase of 150,000 shares from the previous period [3]. - The fourth-largest circulating shareholder was Taikang Strategy Preferred Mixed Fund, holding 390,000 shares, an increase of 140,000 shares [3]. - The fund "Baoying Growth Selected Mixed A" has exited the list of the top ten circulating shareholders [3].

Summary of Key Points Core Viewpoint - The company Li Ju Thermal Energy has experienced a continuous decline in the number of shareholders, indicating potential challenges in investor confidence and market sentiment [2]. Shareholder Information - As of September 20, the number of shareholders for Li Ju Thermal Energy was 7,199, a decrease of 923 from the previous period (September 10), representing a decline of 11.36%. This marks the fourth consecutive period of decline in shareholder numbers [2]. Stock Performance - The closing price of Li Ju Thermal Energy on the reporting date was 52.80 yuan, down 0.38%. However, since the concentration of shares began, the stock price has increased by 22.56%, with 7 days of gains and 3 days of losses [2]. Margin Trading Data - As of September 23, the margin trading balance for the stock was 110 million yuan, with the financing balance also at 110 million yuan. Since the concentration of shares began, the financing balance has increased by 14.83%, totaling an increase of 14.16 million yuan [2]. Financial Performance - According to the company's semi-annual report, for the first half of the year, Li Ju Thermal Energy achieved operating revenue of 404 million yuan, a year-on-year decrease of 11.60%. The net profit was 52.55 million yuan, down 32.66% year-on-year, with basic earnings per share at 0.5800 yuan and a weighted average return on equity of 2.47% [2].

Company Overview - Company Name: Zhejiang Liju Thermal Equipment Co., Ltd. [1] - Stock Code: 603391.SH [1] - IPO Application Date: July 5, 2022 [1] - Listing Date: July 31, 2024 [1] - Industry: General Equipment Manufacturing [1] - IPO Sponsor: CITIC Securities [1] Disclosure and Regulatory Evaluation - Disclosure Issues: Required to improve the disclosure of revenue changes and provide justification for the selection of comparable companies [1] - Regulatory Penalties: No penalties imposed [2] - Public Supervision: No penalties imposed [2] - Listing Cycle: 757 days, exceeding the average of 629.45 days for 2024 A-share listings [2] Financial Metrics - Underwriting Fees: 53.2264 million yuan, with a commission rate of 5.85%, lower than the average of 7.71% [3] - Initial Listing Performance: Stock price increased by 50.00% on the first day [4] - Three-Month Performance: Stock price increased by 7.60% compared to the issue price [5] - Issuance Price-to-Earnings Ratio: 15.56 times, which is 63.41% of the industry average of 24.54 times [6] - Actual Fundraising: Expected to raise 1.612 billion yuan, but actual amount raised was 910 million yuan, a decrease of 43.55% [7] Post-Listing Performance - Revenue: Decreased by 11.60% year-on-year [8] - Net Profit: Increased by 8.51% year-on-year [8] - Non-recurring Net Profit: Decreased by 7.64% year-on-year [8] - Abandonment Rate: 1.19% [9] Overall Evaluation - Total Score: 82 points, classified as B-level [9] - Negative Factors: Disclosure quality needs improvement, lengthy listing cycle, significant reduction in actual fundraising, and declines in revenue and non-recurring net profit in the first accounting year [9]

Core Insights - The stock of Lijun Thermal Energy increased by 2.30% on September 17, with a trading volume of 206 million yuan [1] - The company experienced a net financing outflow of 11.05 million yuan on the same day, with a total financing balance of 89.02 million yuan, representing 7.85% of its market capitalization [1] - Lijun Thermal Energy's main business includes the research, production, and sales of hot water and steam boilers, with industrial boilers accounting for 93.56% of its revenue [1] Financing and Trading Data - On September 17, Lijun Thermal Energy had a financing buy-in of 19.15 million yuan and a financing repayment of 30.20 million yuan, resulting in a net financing buy-in of -11.05 million yuan [1] - The financing balance of 89.02 million yuan is above the 90th percentile level for the past year, indicating a high level of financing activity [1] - There were no shares sold or repaid in the securities lending market on the same day, with a lending balance of 0.00 yuan, also indicating a high level of inactivity [1] Shareholder and Financial Performance - As of September 10, the number of shareholders for Lijun Thermal Energy was 8,122, a decrease of 3.97% from the previous period, while the average circulating shares per person increased by 4.14% to 2,801 shares [2] - For the first half of 2025, Lijun Thermal Energy reported a revenue of 404 million yuan, a year-on-year decrease of 11.60%, and a net profit attributable to shareholders of 52.55 million yuan, down 32.66% year-on-year [2] - The company has distributed a total of 227 million yuan in dividends since its A-share listing [3] Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders included Taikang Quality Life Mixed Fund, which increased its holdings by 150,000 shares to 400,000 shares, and Taikang Strategy Preferred Mixed Fund, which increased its holdings by 140,000 shares to 390,000 shares [3] - The fund "Baoying Growth Selected Mixed A" has exited the list of top ten circulating shareholders [3]

Group 1 - The core point of the article indicates that Lijun Thermal Energy has experienced a decrease in the number of shareholders, with a total of 8,458 shareholders as of August 31, reflecting a reduction of 699 shareholders or a 7.63% decrease compared to the previous period [2] - The company's stock price closed at 41.35 yuan, showing an increase of 0.95%, and has cumulatively risen by 1.85% since the concentration of shares began, with 5 days of increases and 4 days of decreases in the trading period [2] - The latest margin trading data shows that as of September 1, the total margin balance for the stock is 105 million yuan, with a financing balance of 105 million yuan, which has increased by 21.46 million yuan or 25.83% during the current concentration period [2] Group 2 - According to the company's semi-annual report, it achieved an operating income of 404 million yuan in the first half of the year, representing a year-on-year decline of 11.60%, and a net profit of 52.55 million yuan, down 32.66% year-on-year, with basic earnings per share of 0.5800 yuan and a weighted average return on equity of 2.47% [2]

Group 1 - The core viewpoint of the news is that Lijun Thermal Energy has shown significant trading activity and financial performance, with a notable increase in financing buy-ins and a decrease in revenue and net profit year-on-year [1][2]. - As of August 22, Lijun Thermal Energy's financing buy-in amounted to 26.12 million yuan, with a net financing buy-in of 15.92 million yuan, indicating strong investor interest [1]. - The company's financing balance reached 98.70 million yuan, accounting for 10.56% of its circulating market value, which is above the 90th percentile level over the past year, suggesting a high level of leverage [1]. Group 2 - For the first half of 2025, Lijun Thermal Energy reported operating revenue of 404 million yuan, a year-on-year decrease of 11.60%, and a net profit attributable to shareholders of 52.55 million yuan, down 32.66% compared to the previous year [2]. - The company has distributed a total of 227 million yuan in dividends since its A-share listing, reflecting a commitment to returning value to shareholders [3]. - As of June 30, 2025, the top ten circulating shareholders included significant institutional investors, with notable increases in holdings from Taikang Quality Life Mixed Fund and Taikang Strategy Preferred Mixed Fund [3].

Core Viewpoint - Zhejiang Lijun Thermal Energy Equipment Co., Ltd. has shown significant financing activity, indicating potential investor interest and market positioning within the general equipment manufacturing sector [1] Financing Activity - Last week, Lijun Thermal Energy recorded a net financing inflow of 24.33 million RMB, ranking 486th in the market [1] - The total financing amount for the week was 84.78 million RMB, with repayments totaling 60.44 million RMB [1] Capital Flow - Over the past 5 days, the main capital inflow for Lijun Thermal Energy was 15.78 million RMB, with a price increase of 5.22% [1] - In the last 10 days, the main capital inflow was 12.51 million RMB, with a price increase of 2.46% [1] Company Profile - Zhejiang Lijun Thermal Energy Equipment Co., Ltd. was established in 2006 and is located in Huzhou, primarily engaged in general equipment manufacturing [1] - The company has a registered capital of 91 million RMB and a paid-in capital of 68.25 million RMB [1] - The legal representative of the company is He Jun Nan [1] Investment and Intellectual Property - The company has made investments in 5 enterprises and participated in 1,105 bidding projects [1] - In terms of intellectual property, Lijun Thermal Energy holds 10 trademarks and 91 patents, along with 24 administrative licenses [1]

Financial Performance - The company's net profit decreased by 32.66% year-on-year, with a total revenue of 404 million yuan, down 11.6% compared to the previous year [1] - In Q2, total revenue was 189 million yuan, showing a year-on-year increase of 34.36%, while net profit for the same quarter rose by 202.27% to 18.93 million yuan [1] - Gross margin was 35.81%, down 8.29% year-on-year, and net margin was 13.0%, down 23.82% [1] Key Financial Metrics - The company's total revenue for 2025 was 404 million yuan, compared to 457 million yuan in 2024, reflecting an 11.60% decline [1] - The net profit attributable to shareholders was 52.55 million yuan, down from 78.03 million yuan, a decrease of 32.66% [1] - The company's earnings per share (EPS) dropped to 0.58 yuan, a decline of 49.12% year-on-year [1] Cash Flow and Liabilities - Cash flow from operating activities decreased by 67.08%, attributed to reduced cash inflow from sales [3] - The company reported a significant increase in cash and cash equivalents, up 57.60% to 623 million yuan, due to increased redemption of financial products [3] - Short-term borrowings increased due to liquidity needs, while lease liabilities decreased by 44.62% due to reclassification of liabilities [3] Investment and Return Metrics - The company's return on invested capital (ROIC) was 16.83%, indicating strong capital returns [4] - Historical data shows a median ROIC of 25.25% since the company went public, reflecting good investment returns [4] - The cash flow situation is a point of concern, with cash and cash equivalents covering only 95.46% of current liabilities [4]