证券代码：603686 证券简称：福龙马 公告编号：2025-028 福龙马集团股份有限公司 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 5 月 20 日 (二)股东大会召开的地点：福建省龙岩市新罗区东肖镇东华社区龙腾南路 42 号 福龙马集团股份有限公司培训会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 644 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 114,089,403 | | 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（%） | 27.4629 | (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。 本次大会由公司董事会召集，董事长张桂丰先生主持会议。本次股东大会所 采用的表决方式是现场投票和网络投票相结 ...

Investment Rating - The report maintains a "Positive" investment rating for the environmental protection industry [11] Core Insights - The environmental protection industry is experiencing a recovery in market conditions, with a notable increase in sales of sanitation equipment, particularly in the new energy segment, which saw a year-on-year growth of 81.9% in the first four months of 2025 [2][6][22] - The penetration rate of new energy sanitation equipment has risen to 14.7%, driven by declining battery costs and supportive government policies [6][26] - Major companies in the industry, such as Yingfeng Environment and Yutong Heavy Industries, are accelerating their electrification and intelligent transformation efforts [2][9] Summary by Sections Industry Overview - In Q1 2025, national spending on energy conservation and environmental protection reached 130.2 billion yuan, a year-on-year increase of 6.5% [16] - The sales volume of sanitation equipment in 2024 decreased by 8.1% due to local fiscal pressures, but showed signs of recovery with a 4.0% year-on-year increase in the first four months of 2025 [6][22] New Energy Equipment Growth - New energy sanitation equipment sales reached 3,782 units in the first four months of 2025, marking an 81.9% increase compared to the previous year [6][26] - The economic viability of new energy sanitation equipment is becoming evident, with many applications nearing cost parity, which is expected to drive rapid sales growth [28][29] Market Dynamics - The market concentration for sanitation equipment remains high, with the top 10 companies holding a 54.5% market share as of early 2025 [7][31] - Yingfeng Environment leads the market with a 14.7% share, while its new energy equipment market share stands at 32% [7][34] Technological Advancements - The industry is witnessing a shift towards automation and robotics, with companies exploring humanoid sanitation robots to enhance operational efficiency [40][49] - The introduction of autonomous driving technology in sanitation services is gaining traction, addressing labor shortages and operational costs [40][41] Policy Support - The second batch of electric vehicle pilot programs in public sectors has been launched in 10 second- and third-tier cities, aiming to add over 250,000 new energy vehicles [8][39] - The ongoing push for electrification in public service vehicles is expected to significantly boost the demand for new energy sanitation equipment [39] Investment Opportunities - Yingfeng Environment and Yutong Heavy Industries are highlighted as key investment opportunities due to their leading market positions and growth potential in the new energy segment [9][51]

Mergers and Acquisitions - Multiple companies are experiencing stock price increases due to merger and acquisition activities, with notable gains including Zongyi Co. at 10.10% and Daqimo at 10.06% [2][3] - New entrants in the market such as Binhai Energy and Jinhongshun also saw significant increases of 10.00% and 9.98% respectively, attributed to similar merger activities [2] - The trend continues with companies like Huayuan Real Estate and Hunan Development achieving first board listings with gains of 9.94% and 9.97% [3] Shipping and Ports - Following the implementation of tariff adjustments between China and the US, there has been a surge in container bookings from China to the US, positively impacting shipping and port stocks [4] - Nanjing Port, Ningbo Shipping, and Lianyungang have all recorded five consecutive days of price increases, with gains of 9.97%, 10.04%, and 10.07% respectively [4][6] Robotics - The robotics sector is gaining attention, with Nvidia's CEO indicating that all mobile devices will become robots, potentially revolutionizing the industrial sector [7] - Companies like Zhongchao Holdings and Xinlong Health have seen stock increases of 10.13% and 10.01% respectively, driven by advancements in robotics [8] Chemical Products - Recent price hikes in chemical products such as dibutyl phthalate and hydroxyl esters have drawn market attention, benefiting companies like Zhongyida and Youfu Co. with stock increases of 9.99% and 10.04% [10][11] Food and Beverage - The release of new regulations by the Ministry of Commerce and the National Development and Reform Commission is expected to boost the food and beverage sector, with stocks like Jiaoda Angli and Baihe Co. seeing gains of 10.00% and 10.01% [12][15] Military and Aerospace - The debut of the "Jiutian" drone at the 15th China Airshow is anticipated to enhance the military sector, with companies like Chengfei Integration and Lijun Co. achieving stock increases of 10.00% and 10.02% [16][19] Nuclear Power - The announcement of procurement projects by China Fusion Energy Co. is expected to stimulate the nuclear power sector, benefiting companies like Wangzi New Materials and Baili Electric with stock increases of 9.99% and 9.92% [16][17] Venture Capital - Recent regulatory changes encouraging private equity participation in mergers and acquisitions are positively impacting venture capital stocks, with companies like Jiuding Investment and Electronic City seeing gains of 10.01% and 9.90% [19] Pet Economy - The pet economy is projected to grow significantly, with companies like Yuande Pet and Tianyuan Pet achieving stock increases of 9.98% and 20.00% [20][21] Carbon Fiber - Price increases in carbon fiber products have been reported, benefiting companies like Jilin Chemical Fiber with a stock increase of 10.04% [22][23] Smart Driving - The Ministry of Industry and Information Technology's push for mandatory standards in smart connected vehicles is expected to drive growth in the automotive sector, with companies like Wan'an Technology and Luchang Technology seeing stock increases of 10.00% [26][27] Rare Earth Permanent Magnets - Tightening supply of rare earth materials due to export controls has led to price increases, benefiting companies like Huayang New Materials and Jiuwu High-Tech with stock increases of 10.10% and 20.02% [28][29] Huawei Harmony - Huawei's upcoming product launch is expected to positively impact related stocks, with companies like Dongfang Zhongke and Dahua Intelligent seeing stock increases of 10.01% and 9.94% [30]

Company Overview - Fulongma Environmental Technology (Shanghai) Co., Ltd. has been established with a registered capital of 5 million RMB, fully owned by Fulongma Group Co., Ltd. [1] - The legal representative of the new company is Hong Yonghai [1]. Shareholding Structure - Fulongma Group Co., Ltd. holds 100% of the shares in Fulongma Environmental Technology (Shanghai) Co., Ltd. [2]. Business Scope - The company’s business scope includes a wide range of services such as technical services, environmental protection equipment sales, emergency environmental technology equipment sales, and various environmental management services [2]. - Specific services offered include soil pollution remediation, agricultural pest control, and urban management services [2]. - The company is classified under the national standard industry of water, environment, and public facility management, specifically focusing on ecological protection and environmental governance [2].

证券代码：603686 证券简称：福龙马 公告编号：2025-027 福龙马集团股份有限公司 关于参加 2025 年福建辖区上市公司投资者 网上集体接待日活动的公告 召开时间：2025 年 5 月 14 日（周三）15:30-17:00 召开方式：网络在线交流 参与方式：登录"全景路演"网站（https://rs.p5w.net）， 或关注微信公众号：全景财经，或下载全景路演 APP 为进一步加强与投资者的互动交流，福龙马集团股份有限公司 （以下简称"公司"）将参加由福建证监局指导、福建省上市公司 协会与深圳市全景网络有限公司联合举办的"2025 年福建辖区上市 公司投资者网上集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路 演"网站（https://rs.p5w.net），或关注微信公众号：全景财经， 或下载全景路演 APP，参与本次互动交流。 活动时间为 2025 年 5 月 14 日（周三）15:30-17:00。 届时，公司高管将在线就公司 2024 年度业绩、公司治理、发 展战略、经营状况和可持续发展等投资者关心的问题，与投资者进 行沟通与交流，欢迎广 ...

关于 2024 年度资产减值准备计提情况的公告 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。 一、计提资产减值准备情况 证券代码：603686 证券简称：福龙马 公告编号：2025-024 福龙马集团股份有限公司 特此公告。 福龙马集团股份有限公司董事会 根据《企业会计准则》的相关规定，基于谨慎性原则，同时， 为了公允地反映福龙马集团股份有限公司（以下简称"公司"）的财 务状况及经营成果，公司及合并报表范围内子公司对截至 2024 年 12 月 31 日的各项资产进行了清查分析，对存在减值迹象的资产进 行了减值测试，根据测试结果，2024 年度计提资产减值准备 金额合计 14,326.97 万元。具体情况如下： | 项目 | 2024 年度计提减值准备金额 | | --- | --- | | | （万元） | | 应收账款、其他应收款、合同资产、一年内到期 的非流动资产、长期应收款计提减值准备 | 11,705.22 | | 存货减值准备 | 2,621.75 | | 合计 | 14,326.97 | （一）应收账款 ...

一、主要中标项目概况 于都县农村环卫保洁向社会力量购买服务 证券代码：603686 证券简称：福龙马 公告编号：2025-026 福龙马集团股份有限公司 关于2025年4月环卫服务项目中标的提示性公告 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。 福龙马集团股份有限公司（以下简称"公司"）2025年 4月预中标了内蒙古自治区、江西省、天津市等地的环卫服 务项目。公司以临时公告形式对本月主要中标的环卫服务情 况进行自愿性信息披露，具体内容如下： 二、项目中标对公司的影响 公司本月预中标的环卫服务项目中标数3个，合计首年 服务费金额为8,339.80万元（占公司2024年度经审计营业收 入的1.65%），合同总金额为24,461.04万元。截至本公告披 露日，公司本年度环卫服务项目中标数18个，合计首年年度 金额为31,611.45万元，合同总金额为92,374.85万元，这将 对公司2025年及以后的经营业绩产生积极影响。 截至本公告披露日，公司在履行的环卫服务项目年化合 同金额41.92亿元，累计合同总金额341.3 ...

福龙马集团股份有限公司 证券代码：603686 证券简称：福龙马 公告编号：2025-025 2025 年度对外投资事项进展公告（四） 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。 福龙马集团股份有限公司（以下简称"公司"）根据业 务开展的实际情况和《公司章程》规定，经公司总裁办公会 审议通过，同意在内蒙古自治区、安徽省、福建省等地设立 子公司。上述投资事项于近期完成相应的工商登记手续，相 关事项进展情况如下： 一、对外投资事项一 乌审旗龙环环境服务有限公司于近期完成工商注册登 记手续，取得乌审旗市场监督管理局颁发的《营业执照》， 相关登记信息如下： 名称：乌审旗龙环环境服务有限公司 统一社会信用代码：91150626MAEERNNB1D 类型：有限责任公司（非自然人投资或控股的法人独资） 住所：内蒙古自治区鄂尔多斯市乌审旗图克镇万盛酒店 对面房屋第二家 法定代表人：汤泽柳 注册资本：50万元人民币 成立时间：2025年3月27日 经营范围：许可项目：城市生活垃圾经营性服务；道路 危险货物运输；城市建筑垃圾处置（清运 ...

Group 1 - The biomass power generation sector experienced a decline of 0.90%, ranking among the top losers in the concept sector, with ST Xindong and ST Huaxi hitting the limit down [1][2] - Notable declines within the sector included Shengyuan Environmental Protection and Shaoneng Co., with significant losses, while 15 stocks saw price increases, led by Wangneng Environment, Fulongma, and Wuhan Tianyuan, which rose by 10.00%, 5.63%, and 3.58% respectively [1][2] - The sector saw a net outflow of 81 million yuan from main funds, with 26 stocks experiencing outflows, and 7 stocks seeing outflows exceeding 10 million yuan, with Shaoneng Co. leading the outflow at 51.68 million yuan [2][3] Group 2 - The top stocks with net outflows included Shengyuan Environmental Protection, Jinhua Industrial, and China Tianying, with outflows of 41.22 million yuan, 25.02 million yuan, and 15.43 million yuan respectively [2][3] - Conversely, the stocks with the highest net inflows were Fulongma, Wangneng Environment, and Jiuzhou Group, with inflows of 35.52 million yuan, 35.52 million yuan, and 25.35 million yuan respectively [2][3] - The trading activity indicated that the biomass power generation sector had a significant turnover rate, with stocks like Shaoneng Co. and Shengyuan Environmental Protection showing turnover rates of 15.20% and 13.22% respectively [3]

Core Viewpoint - The company's performance is under short-term pressure, but the new energy equipment and service business still show potential [2] Financial Performance - In 2024, the company achieved operating revenue of 5.04 billion yuan, a year-on-year decrease of 1% - The net profit attributable to shareholders was 145 million yuan, down 37% year-on-year - In Q1 2025, the company reported operating revenue of 1.164 billion yuan, a year-on-year decline of 2% - The net profit attributable to shareholders for Q1 2025 was 63 million yuan, also down 2% year-on-year [1][2] Business Segments - The environmental industry ecological operation revenue reached 3.824 billion yuan, a year-on-year increase of 4%, with a gross margin of 21.77% - The intelligent equipment manufacturing business generated revenue of 1.078 billion yuan, a year-on-year decrease of 18%, with a gross margin of 20.80% - Sales of new energy sanitation equipment (including robots) reached 608 units, generating revenue of 361 million yuan [2][3] Order Backlog and Cash Flow - In 2024, the company won 52 new sanitation service projects with a first-year annual amount of 768 million yuan and a total contract amount of 4.607 billion yuan - As of the end of 2024, the annualized contract amount for ongoing sanitation service projects was 4.270 billion yuan, with a total contract amount of 34.730 billion yuan and a backlog of 19.586 billion yuan - The company faces challenges with accounts receivable and contract assets due to extended government payment periods, with accounts receivable valued at 2.553 billion yuan and contract assets at 1.084 billion yuan [3][4] New Energy Equipment Performance - The market share of new energy sanitation equipment is 6.77%, ranking third in the industry - The company is actively expanding into overseas markets, achieving breakthroughs in Saudi Arabia, New Zealand, and Italy - The CITIBOT robot has been deployed in 34 scenarios with a cumulative operating mileage of 16,000 kilometers [4] Profit Forecast - The company is expected to achieve operating revenues of 5.660 billion yuan, 6.360 billion yuan, and 7.150 billion yuan for 2025-2027, with year-on-year growth rates of 12.31%, 12.37%, and 12.41% - The net profit attributable to shareholders is projected to be 196 million yuan, 224 million yuan, and 260 million yuan for the same period, with growth rates of 34.76%, 14.26%, and 16.19% respectively [4]