德恒上海律师事务所 关于 华荣科技股份有限公司 2024 年年度股东会之 见证意见 上海市东大名路 501 号上海白玉兰广场办公楼 23 层 电话：021-55989888/55989666 传真：021-5598 9898 邮编：200080 见证意见 德恒 02G20240145-00003 号 德恒上海律师事务所 关于华荣科技股份有限公司 2024 年年度股东会之见证意见 德恒上海律师事务所 关于华荣科技股份有限公司 2024 年年度股东会之 致：华荣科技股份有限公司 德恒上海律师事务所接受华荣科技股份有限公司（以下或称"公司"）的委托， 指派本所见证律师对公司于 2024 年 4 月 17 日 13:30 召开的 2024 年年度股东会 （以下简称"本次股东会"）进行见证并出具本见证意见。 本所见证律师依据本见证意见出具日前已经发生或存在的事实和《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》"）、《上市公司股东会规则》（以下简称"《股东会规则》"） 等现行有效的法律、法规和规范性文件以及《华荣科技股份有限公司章程》（以 下简称"《公司章程》"）、 ...

证券代码：603855 证券简称：华荣股份 公告编号：2025-013 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 | 1、出席会议的股东和代理人人数 | 259 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 194,923,531 | | 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（%） | 57.7501 | (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。 本次会议由董事长胡志荣先生主持，会议的召集、召开及表决方式符合《中 华人民共和国公司法》、《上海证券交易所股票上市规则》、《华荣科技股份有限公 司章程》（以下简称"《公司章程》"）及《华荣科技股份有限公司股东大会议事规 华荣科技股份有限公司 2024 年年度股东大会决议公告 (一) 股东大会召开的时间：2025 年 4 月 17 日 (二) 股东大会召开的地点：上海市嘉定区宝钱公路 555 号 A 栋 4 楼会议室 (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： 本公司董事会及全体董事保证本公告内容不 ...

证券代码：603855 证券简称：华荣股份 公告编号：2025-012 华荣科技股份有限公司 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 投资者可于 2025 年 04 月 11 日 （星期五） 至 04 月 17 日（星期四） 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 hrzhd@warom.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。 华荣科技股份有限公司（以下简称"公司"）已于 2025 年 3 月 28 日发布公 司 2024 年度报告，为便于广大投资者更全面深入地了解公司 2024 年度经营成 果、财务状况，公司计划于 2025 年 04 月 18 日 （星期五） 15:00-16:30 举行 2024 年度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 二、 说明会召开的时间、地点 （一） 会议召开时间：2025 年 04 月 18 日 （星期五） 15:00-16:30 关 ...

Core Viewpoint - The company reported a revenue increase of 24.01% year-on-year for 2024, reaching 3.964 billion yuan, while net profit saw a modest rise of 0.26% to 462 million yuan, indicating a mixed performance amid a challenging domestic oil and gas market [1] Group 1: Financial Performance - The company achieved a revenue of 3.964 billion yuan in 2024, up 24.01% year-on-year [1] - The net profit attributable to shareholders was 462 million yuan, reflecting a 0.26% increase year-on-year [1] - The non-recurring net profit was 448 million yuan, showing a decline of 0.98% year-on-year [1] - A cash dividend of 10 yuan per 10 shares (tax included) is proposed [1] Group 2: Business Segment Performance - The core business segment of explosion-proof electrical equipment generated revenue of 2.506 billion yuan, down 3.5% year-on-year due to reduced capital expenditure in the domestic oil and gas sector [1] - The revenue from the safety intelligent system within the explosion-proof electrical segment reached 362 million yuan, growing over 72% year-on-year [1] - The military and nuclear power segment achieved revenue of 135 million yuan, up over 21% year-on-year [1] - The marine engineering segment reported revenue of 168 million yuan, a 19% increase year-on-year [1] - The foreign trade segment of explosion-proof electrical equipment reached 944 million yuan, a 35% increase year-on-year, marking a historical high [2] Group 3: Market Expansion and Strategy - The company is actively expanding its overseas market presence, with significant demand for explosion-proof electrical products internationally [3] - The Saudi subsidiary commenced operations in September 2024, focusing on localizing services for major clients like Saudi Aramco [3] - The company is also targeting the Xinjiang coal chemical sector domestically, with planned investments in coal-to-oil and coal-to-gas projects amounting to nearly 1 trillion yuan from 2025 to 2028 [3] - The anticipated investment in explosion-proof equipment in Xinjiang is approximately 700 billion yuan, which is expected to stimulate market demand [3] Group 4: Future Outlook - The company has adjusted its net profit forecasts for 2025-2026 to 524 million yuan and 606 million yuan, respectively, with a new forecast for 2027 at 686 million yuan [4] - The earnings per share (EPS) estimates for 2025-2027 are projected at 1.55, 1.80, and 2.03 yuan, respectively [4] - The company maintains a "buy" rating due to its leadership in the global explosion-proof electrical market and strong dividend yield potential [4]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a strong potential for investment returns exceeding the market benchmark by over 15% in the next 6-12 months [4][6][11]. Core Insights - The company reported a revenue of 3.964 billion yuan in 2024, a year-on-year increase of 24.01%, and a net profit attributable to shareholders of 462 million yuan, a slight increase of 0.26% [1][4]. - The traditional oil and gas market in China is experiencing weak demand, but the company has made significant progress in emerging markets, particularly in the explosion-proof electrical equipment sector [2][3]. - The company is actively expanding its international market presence and focusing on the coal chemical industry in Xinjiang, which is expected to drive future demand for explosion-proof equipment [3][4]. Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 3.964 billion yuan, with a growth rate of 24.01%. The net profit was 462 million yuan, reflecting a growth of 0.26% [1][5]. - The explosion-proof electrical equipment segment generated 2.506 billion yuan in revenue, a decrease of 3.5% year-on-year, while the new energy segment saw a remarkable growth of 314.7%, contributing significantly to overall revenue growth [2][5]. Market Expansion - The company is enhancing its overseas market development, with notable performance in regions outside North America. The Saudi subsidiary commenced operations in September 2024, aiming to provide localized services to major clients [3]. - Domestically, the company is focusing on the Xinjiang coal chemical sector, with projected investments of nearly 1 trillion yuan from 2025 to 2028, which is expected to boost demand for its products [3]. Profit Forecast and Valuation - The profit forecasts for 2025 and 2026 have been adjusted to 524 million yuan and 606 million yuan, respectively, with an additional forecast for 2027 at 686 million yuan. The corresponding EPS for 2025-2027 is projected to be 1.55, 1.80, and 2.03 yuan [4][5]. - The company is recognized as a global leader in explosion-proof electrical equipment, with a stable operation and significant growth potential in emerging markets and overseas expansion [4].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the coming months [4]. Core Insights - The company achieved a revenue of 3.964 billion yuan in 2024, representing a year-on-year increase of 24.01%. The net profit attributable to shareholders was 462 million yuan, a slight increase of 0.26% year-on-year. The gross margin was 46.73%, down by 7.46 percentage points compared to the previous year [1][2]. - The traditional oil and gas petrochemical sector faced challenges, while the safety engineering systems, emerging industries, foreign trade, and new energy sectors drove growth. Increased credit impairment losses impacted overall performance [2]. - The company is actively advancing its safety engineering intelligent systems business, which is expected to boost domestic trade. Revenue from this segment grew by 72% year-on-year, and the company expanded from 8 to 12 subsystems [3]. - The foreign trade segment showed significant growth, with a revenue increase of 35% year-on-year. The establishment of international operation centers in Italy, Malaysia, and Kazakhstan contributed to over 300 million yuan in orders [3]. Financial Summary - In 2024, the company reported a revenue of 3,964 million yuan, with a projected revenue growth of 10.73% in 2025, reaching 4,390 million yuan. The net profit is expected to grow to 531 million yuan in 2025, reflecting a 14.95% increase [10]. - The earnings per share (EPS) for 2024 is projected at 1.37 yuan, with a forecasted increase to 1.57 yuan in 2025. The price-to-earnings (P/E) ratio is expected to decrease from 14.81 in 2024 to 13.35 in 2025 [10]. - The gross margin is anticipated to improve slightly to 47.4% in 2025, while the net profit margin is expected to reach 12.1% [10].

证券代码：603855 证券简称：华荣股份 公告编号：2025-011 大股东及董事高管持股的基本情况 1、截至本公告披露日，华荣科技股份有限公司（以下简称"公司"或"华 荣股份"）董事、总经理李江先生持有公司股份 11,350,000 股，占公司总股份的 比例为 3.36%。 2、截至本公告披露日，公司大股东、董事李妙华先生持有公司股份 21,533,000 股，占公司总股份的比例为 6.38%。 3、截至本公告披露日，公司董事、副总经理林献忠先生持有公司股份 11,606,000 股，占公司总股份的比例为 3.44%。 减持计划的主要内容 1、公司于 2025 年 3 月 27 日收到股东李江先生的告知函，根据个人资金需 求，李江先生拟自本公告发布之日起 15 个交易日之后的 3 个月时间内通过大宗 交易或集中竞价方式减持其持有的公司无限售流通股份不超过 200 万股（占本人 所持股份的 17.62%，占公司总股份的比例为 0.59%），减持价格依据市场价格确 定。 2、公司于 2025 年 3 月 27 日收到股东李妙华先生的告知函，根据个人资金 需求，李妙华先生拟自本公告发布之日起 15 个交易日之后 ...

Core Insights - Huaron Co., Ltd. (603855.SH) released its 2024 annual report on March 28, 2025, indicating that 22 institutional investors disclosed holdings in Huaron's A-shares, totaling 35.982 million shares, which represents 10.66% of the total share capital [1] - The top ten institutional investors collectively hold 10.37% of the shares, with a decrease of 0.36 percentage points compared to the previous quarter [1] Institutional Holdings - Three public funds reduced their holdings compared to the previous quarter, including Invesco Great Wall Energy Infrastructure Mixed A, Invesco Great Wall Hong Kong-Shanghai-Deep Selected Stock A, and GF Theme Leading Mixed A, with a total reduction of 0.27% [2] - Two new public funds disclosed their holdings this period, namely Mingya Value Evergreen A and Ping An CSI 2000 Enhanced Strategy ETF [2] - Eleven public funds were not disclosed this period, including Invesco Great Wall Dynamic Balance Mixed, Pengyang Hongli Preferred Mixed A, GF Xinyuan Return Mixed A, Pengyang Jingpu One-Year Holding Mixed A, and Pengyang Jingrui Three-Year Holding Mixed A [2]

Group 1 - The company achieved a revenue of 3.964 billion yuan in 2024, representing a year-on-year growth of 24%, while the net profit attributable to shareholders was 462 million yuan, a slight increase of 0.3% [1] - The traditional domestic trade sector faced challenges due to reduced capital expenditures in the refining sector, leading to fewer new projects from downstream clients. Future investments in Xinjiang's coal chemical project are expected to stimulate demand in the explosion-proof electrical market [1] - The foreign trade business saw a significant revenue increase to 944 million yuan in 2024, with a growth rate accelerating from 12% in 2023 to 35% [1] Group 2 - The company's intelligent safety system business generated revenue of 362 million yuan, marking a year-on-year growth of approximately 72%, with a compound annual growth rate (CAGR) of 56.73% from 2020 to 2024 [2] - The company is collaborating with a robotics manufacturer to develop industrial execution robots, aiming to enhance the competitive advantage of its intelligent safety system solutions and accelerate its transformation towards intelligent services [2]

Financial Performance - The company's operating revenue for 2024 reached ¥3,964,418,803.33, representing a 24.01% increase compared to ¥3,196,944,264.33 in 2023[22]. - The net profit attributable to shareholders for 2024 was ¥462,276,218.49, a slight increase of 0.26% from ¥461,082,030.17 in 2023[22]. - The cash flow from operating activities for 2024 was ¥536,286,552.12, showing a decrease of 14.46% compared to ¥626,978,249.21 in 2023[22]. - The total assets of the company at the end of 2024 were ¥5,245,806,588.15, which is a 14.29% increase from ¥4,589,931,348.45 at the end of 2023[22]. - The net assets attributable to shareholders increased by 9.27% to ¥2,119,474,854.81 at the end of 2024, up from ¥1,939,644,437.58 in 2023[22]. - The basic earnings per share for 2024 were ¥1.37, a decrease of 1.44% from ¥1.39 in 2023[23]. - The weighted average return on equity for 2024 was 23.25%, down 1.40 percentage points from 24.65% in 2023[23]. Revenue Breakdown - The company achieved operating revenue of 3.964 billion RMB in the reporting period, representing a year-on-year growth of 24.0%[30]. - Net profit attributable to shareholders was 462 million RMB, a slight increase of 0.3% year-on-year, while net profit excluding non-recurring gains and losses decreased by 1.0% to 448 million RMB[30]. - The explosion-proof business segment showed steady growth, with significant demand in emerging markets such as grain and oil medicine, military nuclear power, and intelligent safety control systems[30]. - Revenue from the intelligent safety system reached 362 million RMB, a year-on-year increase of over 72%[31]. - The international business segment achieved a record revenue of 944 million RMB, growing by 35% year-on-year, benefiting from the establishment of overseas operational centers[31]. - The professional lighting segment generated revenue of 279 million RMB, reflecting a year-on-year growth of 3.6% despite industry challenges[34]. - The new energy segment reported a substantial revenue increase of 314.7%, totaling 1.107 billion RMB, becoming a key driver of overall revenue growth[35]. Cost and Expenses - The company's operating costs increased by 44.18%, reaching 2,111,725,231.04 RMB, which was higher than the revenue growth rate due to the lower gross margin of the new energy EPC business[51]. - Research and development expenses rose by 52.08% to 215,507,254.72 RMB, reflecting increased investment in technology and design[51]. Strategic Initiatives - The company plans to enhance competitiveness through product line expansion, quality optimization, and innovation in the professional lighting segment[34]. - The company is actively diversifying its business by expanding into new energy EPC and professional lighting industries, despite a decline in traditional oil and gas demand[37]. - The company is focusing on expanding into emerging markets such as food, medicine, and military industries to establish a competitive advantage[69]. - The company plans to accelerate its transformation into an intelligent service provider by upgrading its safety and engineering intelligent systems[70]. - The company aims to deepen its global layout by enhancing localized marketing and service systems in Europe, Central Asia, and Southeast Asia[72]. Governance and Compliance - The company has maintained independence from its controlling shareholders and actual controllers, with no significant changes in competition or business operations[94]. - The company’s governance structure complies with relevant laws and regulations, ensuring the legality and validity of the voting results in the shareholders' meetings[97]. - The company has established specialized committees, including the Audit Committee and the Compensation and Assessment Committee, to enhance governance[107]. - The company has not reported any significant changes in the business operations of its controlling shareholders that would affect its independence[94]. Environmental and Social Responsibility - The company is committed to sustainable development, having achieved various certifications, including TfS sustainable development certification[42]. - The company invested 67.79 million yuan in environmental protection during the reporting period[133]. - The company reduced carbon emissions by 222.22 tons through measures such as photovoltaic power generation[135]. - The company has committed to ensuring that any related party transactions will adhere strictly to market fairness principles[140]. Shareholder Information - The total remuneration for the board members and senior management during the reporting period amounted to 1,053.31 million yuan[98]. - The cumulative cash dividend amount over the last three fiscal years reached 1,005,992,000.00 RMB, with an average annual net profit of 427,179,774.64 RMB, resulting in a cash dividend ratio of 235.50%[125]. - The company has approved the issuance of 10 shares as a stock dividend and a cash dividend of 10 RMB per share, including tax[122]. - The company has retained 907,988,566.84 RMB in undistributed profits at the end of the last fiscal year[125].