Group 1 - The report highlights three main investment directions: 1) Technology AI+ led by Deepseek breakthroughs and open-source initiatives, 2) Valuation recovery and gradual revival of consumer stocks, 3) The rise of undervalued dividends [2] - Overall industry sentiment shows an upward trend in sectors such as machinery, food and beverage, non-bank financials, real estate, environmental protection, and retail, while sectors like oil and petrochemicals, pharmaceuticals, home appliances, banking, and public utilities are trending downward [2][20] - The report predicts strong performance in specific sub-industries over the next four weeks, emphasizing automotive services, general equipment, logistics, components, specialized equipment, paper, semiconductors, wind power equipment, consumer electronics, motors, textiles, optical electronics, photovoltaic equipment, jewelry, and infrastructure [2][20] Group 2 - In the agriculture sector, there is a strong short-term pig price due to a supply gap and inventory demand driven by state storage and increased channel inventory [3] - The report indicates a growing pressure on pig supply due to increasing inventory levels, with a notable rise in the number of small pigs stored [3] - The report recommends leading breeding companies such as Wens Foodstuffs, Muyuan Foods, and New Hope, while suggesting attention to flexible stocks like Shennong Group and Dekang Animal Husbandry [3] Group 3 - The aerospace industry is experiencing growth, with the domestic C919 aircraft entering commercial operation, leading to increased orders and production capacity [4][7] - The report anticipates significant benefits for the company as a key supplier in the aerospace engine industry, particularly with the development of advanced fighter jets and drones [4][7] - Revenue projections for the company are set at 44.84 billion, 54.48 billion, and 68.54 billion for 2025-2027, with a target price of 33.96 per share [7] Group 4 - The home appliance sector is seeing a return to growth, with new business and scenarios contributing to revenue despite short-term profitability pressure [8][29] - The company reported a revenue of 19.1 billion in 2024, with a slight increase in sales from industrial pumps and significant growth in the commercial pump segment [8][29] - The report maintains a "buy" rating for the company, projecting net profits of 2.7 billion, 3.3 billion, and 3.8 billion for 2025-2027 [29] Group 5 - The report on the food and beverage sector indicates a stable performance for Laobai Ganjiu, with revenue and net profit showing slight increases [10][14] - The company is benefiting from market dynamics in Hebei and Hunan, with a positive outlook for future sales growth [10][14] - The report adjusts profit forecasts for 2025-2026, expecting net profits of 8.87 billion and 10.27 billion, reflecting a cautious but optimistic view of the market [14] Group 6 - The cosmetics and personal care sector is experiencing a temporary performance pressure, but the color cosmetics business is showing remarkable growth [14][15] - The company reported a revenue of 57.36 billion in 2024, with a significant increase in color cosmetics sales [14][15] - The report anticipates a revenue growth trajectory for 2025-2027, with adjusted profit expectations reflecting competitive pressures in the market [15]

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [6][18]. Core Views - The household segment has returned to growth, although profitability is under short-term pressure. In 2024, the company achieved operating revenue of 1.91 billion yuan, a year-on-year increase of 1.57%, while net profit attributable to the parent company was 260 million yuan, a decrease of 10.55% [1][3]. - New businesses and scenarios are experiencing rapid growth, with traditional business showing fluctuations. The agricultural pump business is expected to generate approximately 600 million yuan in revenue, a decline of about 3.8%, while the household segment's main products are projected to generate around 720 million yuan, down about 6.5% [2][4]. - The liquid cooling pump market is anticipated to grow significantly, driven by the expansion of AI computing power and the need for efficient cooling solutions in data centers and electric vehicles [4]. Summary by Sections Financial Performance - In 2024, the company reported a gross margin of 29.7%, down 1.5 percentage points year-on-year. The first quarter of 2025 saw a gross margin of 27.0%, a decrease of 8.9 percentage points year-on-year [3][5]. - The company plans to distribute a cash dividend of 2 yuan per 10 shares, totaling 32.95 million yuan, which represents 45% of the net profit attributable to the parent company for 2024 [1][5]. Revenue and Profit Forecast - The company forecasts net profits attributable to the parent company for 2025, 2026, and 2027 to be 268.37 million yuan, 325.16 million yuan, and 381.47 million yuan, respectively [5][6]. - The expected revenue growth rates for the upcoming years are 14.81% for 2025, 14.50% for 2026, and 13.76% for 2027 [5][6]. Market Position and Strategy - The company is positioned as a leader in the domestic shielding pump market, with a comprehensive product matrix including household, industrial, and liquid cooling pumps. It is expected to leverage its technological advantages and market expansion capabilities [4][6]. - The company has a dividend payout plan for 2025-2027, committing to distribute no less than 20% of the distributable profits in cash each year, contingent on meeting cash dividend conditions [1][5].

大元泵业 2024 年度暨 2025 年第一季度 业绩交流电话会议纪要 一、会议情况 董事会秘书 黄霖翔；财务总监 叶晨晨；证券事务代表 张俊伟。 2、参会机构： 中信证券、东方财富证券、财通证券、中邮证券、华西证券、华泰证券、弘尚资 产、中信建投、诺安基金、景顺长城基金、天弘基金、招商证券、易方达基金、 博时基金、北京橡果资管、深圳市尚诚资管、北京同巨投资、上海度势投资、中 天汇富基金、光大保德信、青岛中航赛维投资、上海金旷投资、上海国赞私募、 深圳君茂投资、华夏久盈资管、乾惕投资、深圳前海汇杰达理资本、第一创业证 券、博裕资本投资、银华基金、深圳市明达资管、北京容光私募、华商基金、理 成资产、银河基金、上海常春藤投资、上海五地私募、兴业资管、上海天驷资管、 上海森锦资管、上海复胜资管、太平洋资管、上海东恺资管、上海杭贵资管、国 金基金、宝盈基金、民生加银基金、富安达基金、西部利得基金、天治基金、海 富通基金、平安养老保险、富国基金、广发基金、建信基金、北京根本私募、华 富基金、华泰保险、杭州晟维资管、嘉实基金、博道基金、上海混沌投资、深圳 亘泰投资、广东正圆私募、首创证券、上海歌汝私募、长江证券、杭州俊腾 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603757 证券简称：大元泵业 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 ■ (二)非经常性损益项目和金额 √适用 □不适用 单位:元 币种:人民币 ■ 对公司将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号一一非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 √适用 □不适用 ■ 二、股东信息 (一)普通股股东总数和表决权恢复的优先股股东数 ...

Group 1 - Jinchengxin signed a mining production contract with Western Mining for approximately 377 million yuan [1] - Weishinkang's subsidiary received a drug registration certificate for compound amino acid injection (18AA-Ⅸ) [1] - Kangyuan Pharmaceutical obtained a drug registration certificate for Yunu Jian granules [2] Group 2 - Zongheng Communication reported a net profit of 3.42 million yuan in Q1 2025, turning from loss to profit [3] - Phoenix Holdings achieved a net profit of 1.39 million yuan in Q1 2025, also turning from loss to profit [3] - Dayuan Pump Industry reported a net profit of 39.21 million yuan in Q1 2025, a decrease of 3.95% year-on-year [5] Group 3 - Shuo Beid reported a net profit of 14.53 million yuan in Q1 2025, an increase of 276.05% year-on-year [7] - Tongde Chemical reported a net profit of 10.31 million yuan in Q1 2025, a decrease of 51.51% year-on-year [8] - Vanadium Titanium Co. reported a net loss of 98 million yuan in Q1 2025, a decline of 40.84% in revenue [9] Group 4 - Xineng Taishan reported a net profit of 16.23 million yuan in Q1 2025, turning from loss to profit [10] - Andavil reported a net profit of 13.83 million yuan in 2024, a decrease of 87.82% year-on-year [12] - Xingyuan Environment reported a net loss of 302 million yuan in 2024, a reduction in loss by 69.46% [14] Group 5 - China Rare Earth reported a net loss of 287 million yuan in 2024, turning from profit to loss [15] - Zhejiang Huaye reported a net profit of 92.94 million yuan in 2024, an increase of 32.21% year-on-year [16] - Mengjie Co. reported a net profit of 24.88 million yuan in 2024, an increase of 10.99% year-on-year [18] Group 6 - Tongde Chemical reported a net loss of 71.99 million yuan in 2024, turning from profit to loss [19] - Rongsheng Development reported a net loss of 8.44 billion yuan in 2024, turning from profit to loss [21] - Sanwei Communication reported a net loss of 27.1 million yuan in 2024, turning from profit to loss [22] Group 7 - Wankang Technology reported a net loss of 16.3 million yuan in 2024, turning from profit to loss [24] - Huitian New Materials reported a net profit of 1.02 billion yuan in 2024, a decrease of 65.91% year-on-year [25] - Luzhou Laojiao reported a net profit of 13.47 billion yuan in 2024, an increase of 1.71% year-on-year [27] Group 8 - Haiyuan Composite reported a net loss of 16 million yuan in 2024 [29] - Hongchuan Wisdom reported a net profit of 15.8 million yuan in 2024, a decrease of 46.57% year-on-year [30] - Gree Electric reported a net profit of 32.18 billion yuan in 2024, an increase of 10.91% year-on-year [30]

二、基本情况 （二）交易金额 根据公司实际业务发展需要，本次公司及子公司拟进行外汇衍生品交易的金 额不超过 5,000 万美元或其他等值外币。在额度和期限内，资金可以滚动使用， 但任一时点的交易金额不超过该额度。 （三）资金来源 公司及子公司拟进行外汇衍生品交易的资金来源为自有资金及自筹资金，不 涉及募集资金。 （四）交易方式 公司及子公司拟进行外汇衍生品交易的品种及工具包括但不限于远期结售 汇、外汇掉期、外汇期权、利率互换、利率掉期、利率期权、货币掉期或上述产 品的组合，交易场所为经监管机构批准、具有外汇衍生品交易业务经营资格、经 浙江大元泵业股份有限公司 关于开展外汇衍生品交易业务的可行性分析报告 一、业务背景 随着浙江大元泵业股份有限公司（以下简称"公司"）及子公司海外业务规 模持续扩大，外汇的收支规模日益增长，而受到国际政治、经济形势等因素的影 响，外汇汇率波动加剧，当汇率出现较大波动时，汇兑损益会对公司的经营业绩 产生一定影响。为更好地防范和规避面临的外汇汇率波动风险，降低风险敞口， 增强财务稳健性，公司及子公司拟开展外汇衍生品交易业务。公司及子公司开展 的外汇衍生品交易业务均以正常生产经营为基础， ...

2024 年度会计师事务所履职情况评估报告 截至 2024 年末，立信累计已提取职业风险基金 1.71 亿元，购买的职业保险 累计赔偿限额为 10.50 亿元，相关职业保险能够覆盖因审计失败导致的民事赔偿 责任。 近三年在执业行为相关民事诉讼中承担民事责任的情况： 浙江大元泵业股份有限公司 2024 年度会计师事务所履职情况评估报告 浙江大元泵业股份有限公司（以下简称"公司"）聘请立信会计师事务所（特 殊普通合伙）（以下简称"立信"）作为公司 2024 年度财务报告审计机构。根据 财政部、国务院国资委、证监会颁布的《国有企业、上市公司选聘会计师事务所 管理办法》，公司对立信 2024 年年度审计过程中的履职情况进行评估。经评估， 公司认为立信资质、制度等方面合规、有效，履职保持独立性，勤勉尽责，公允 表达意见，具体情况如下： 一、会计师事务所的基本情况 1、基本情况 立信由我国会计泰斗潘序伦博士于 1927 年在上海创建，1986 年复办，2010 年成为全国首家完成改制的特殊普通合伙制会计师事务所，注册地址为上海市， 首席合伙人为朱建弟先生。立信是国际会计网络 BDO 的成员所，长期从事证券服 务业务，新证 ...

浙江大元泵业股份有限公司 关于向银行申请综合授信额度的公告 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。 2025 年 4 月 24 日，浙江大元泵业股份有限公司（以下简称"公司"）第四 届董事会第七次会议审议通过了《关于向银行申请综合授信额度的议案》，具体 内容如下： 为了满足公司经营发展需要，提高资金营运能力，现根据公司经营目标与计 划安排，公司及子公司拟向银行等金融机构申请总额不超过人民币 15 亿元的授 信额度，在授信额度内用于办理贷款、银行票据等相关业务。上述授信额度不等 于公司及子公司实际融资金额，实际授信额度最终以银行最后审批的授信额度为 准，具体融资金额将视公司运营资金的实际需求来确定。 上述授信有效期自公司 2024 年年度股东大会审议通过本议案之日起至 2025 年年度股东大会召开之日止。在授信期限内，授信额度可循环使用。同时，公司 及子公司以各自的自有资产为各自的授信额度的申请提供担保、抵押或质押。 | 证券代码：603757 | 证券简称：大元泵业 | 公告编号：2025-014 | | --- ...

投资者可于 2025 年 05 月 08 日 （星期四） 至 05 月 14 日 （星期三） 16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zhengquan@dayuan.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 | 证券代码：603757 | 证券简称：大元泵业 | 公告编号：2025-019 | | --- | --- | --- | | 债券代码：113664 | 债券简称：大元转债 | | 浙江大元泵业股份有限公司 关于召开 2024 年度暨 2025 年第一季度 业绩说明会的公告 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： 会议召开时间：2025 年 05 月 15 日 （星期四） 13:00-14:00 会议召开地点：上海证券交易所上证路演中心（网址：https://roadsh ow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 浙江大元泵业股份有限公司（以下简称"公司"）已于 2025 年 4 月 28 ...

| 证券代码：603757 | 证券简称：大元泵业 | 公告编号：2025-015 | | --- | --- | --- | | 债券代码：113664 | 债券简称：大元转债 | | 浙江大元泵业股份有限公司 关于开展外汇衍生品交易业务的公告 已履行及拟履行的审议程序：公司开展外汇衍生品交易业务的相关议案 已经公司第四届董事会第七次会议、第四届监事会第六次会议审议通过，该议案 无需提交公司股东大会审议。 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： 交易目的：浙江大元泵业股份有限公司（以下简称"公司"或"本公司"） 及子公司的海外业务占比较大，且进出口业务主要采用美元、欧元等外汇进行结 算，当汇率出现较大波动时，汇兑损益会对公司的经营业绩产生一定影响，为更 好地防范和规避面临的外汇汇率波动风险，降低风险敞口，增强财务稳健性，公 司及子公司拟开展外汇衍生品交易业务。公司及子公司开展的外汇衍生品交易业 务均以正常生产经营为基础，不进行单纯以盈利为目的的投机和套利交易。 交易品种及工具：包括但不限于远期结 ...