Financial Performance - The company's operating revenue for Q1 2025 was CNY 521,479,604.92, a decrease of 19.08% compared to CNY 644,442,673.44 in the same period last year[4] - Net profit attributable to shareholders was CNY 42,830,431.58, down 17.78% from CNY 52,089,430.44 year-on-year[4] - Basic and diluted earnings per share decreased by 20.00% to CNY 0.16 from CNY 0.20 in the same period last year[5] - The net profit for Q1 2025 was CNY 42,705,840.49, a decrease of 17.8% compared to CNY 51,965,025.02 in Q1 2024[20] - The total comprehensive income for Q1 2025 was CNY 42,896,325.49, a decrease of 18.5% from CNY 52,390,092.33 in Q1 2024[21] - The total operating profit for Q1 2025 was CNY 48,949,090.68, down 18.1% from CNY 59,711,904.69 in Q1 2024[20] Cash Flow and Liquidity - The net cash flow from operating activities increased significantly to CNY 118,711,176.86, a rise of 2,234.16% compared to CNY 5,085,830.05 in the previous year[5] - The cash flow from operating activities netted CNY 118,711,176.86 in Q1 2025, a significant increase compared to CNY 5,085,830.05 in Q1 2024[25] - The company’s cash and cash equivalents at the end of Q1 2025 stood at CNY 365,650,514.90, up from CNY 158,792,667.81 at the end of Q1 2024[26] - Cash and cash equivalents increased to RMB 466,003,668.49 as of March 31, 2025, up from RMB 365,381,299.70 at the end of 2024, representing a growth of 27.5%[14] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,722,339,986.03, reflecting a slight increase of 0.65% from CNY 3,698,398,675.60 at the end of the previous year[5] - Total assets as of March 31, 2025, amounted to RMB 3,722,339,986.03, compared to RMB 3,698,398,675.60 at the end of 2024, reflecting a slight increase of 0.65%[15] - Total liabilities decreased to RMB 1,081,662,397.51 from RMB 1,346,574,241.63, a reduction of 19.7%[16] - The company reported a significant reduction in short-term borrowings, which decreased to RMB 358,816,708.33 from RMB 586,036,876.38, a decline of 38.76%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,575[9] - The largest shareholder, Shandong Donghong Group Co., Ltd., holds 46.51% of the shares, totaling 131,170,653 shares[10] - Shareholders' equity attributable to the parent company increased by 12.32% to CNY 2,634,465,479.65 from CNY 2,345,487,734.01 at the end of the previous year[5] - The company's equity attributable to shareholders increased to RMB 2,634,465,479.65 from RMB 2,345,487,734.01, an increase of 12.34%[16] Operational Efficiency - Total operating costs for Q1 2025 were RMB 477,039,693.67, down 21.5% from RMB 607,657,414.71 in Q1 2024[19] - Accounts receivable decreased to RMB 1,119,101,483.30 from RMB 1,225,254,978.58, a reduction of 8.66%[14] - Inventory as of March 31, 2025, was RMB 307,402,971.38, slightly up from RMB 304,320,233.10, indicating a marginal increase of 0.92%[14] - The company reported a decrease in research and development expenses to CNY 14,745,487.27 in Q1 2025 from CNY 15,149,308.09 in Q1 2024, reflecting a reduction of 2.7%[20] - The company’s tax expenses for Q1 2025 were CNY 6,859,160.56, a decrease of 18.2% compared to CNY 8,389,970.28 in Q1 2024[20] Non-Recurring Items - Non-recurring gains and losses amounted to CNY 4,612,137.06, with government subsidies contributing CNY 3,707,313.38[6] - The company has not indicated any new product launches or market expansion strategies during the reporting period[12] Return on Equity - The company reported a decrease in the weighted average return on equity to 1.72%, down from 2.30% in the previous year, a decline of 0.58 percentage points[5]

Financial Performance - The company's operating revenue for 2024 was CNY 2,489,534,657.57, a decrease of 13.08% compared to CNY 2,864,070,391.16 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 169,238,434.47, representing a 5.03% increase from CNY 161,127,848.82 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 132,419,412.14, down 10.75% from CNY 148,366,892.61 in 2023[23]. - The net cash flow from operating activities for 2024 was CNY 94,457,617.61, a significant decrease of 50.74% compared to CNY 191,755,705.80 in 2023[23]. - The total assets at the end of 2024 were CNY 3,698,398,675.60, an increase of 3.93% from CNY 3,558,514,416.10 at the end of 2023[23]. - The net assets attributable to shareholders at the end of 2024 were CNY 2,345,487,734.01, reflecting a 4.73% increase from CNY 2,239,454,875.67 at the end of 2023[23]. - The basic earnings per share for 2024 was CNY 0.66, up 4.76% from CNY 0.63 in 2023[24]. - The diluted earnings per share also stood at CNY 0.66, reflecting the same growth as basic earnings[24]. - The weighted average return on equity rose to 7.38%, an increase of 0.07 percentage points compared to 2023[24]. - The gross profit margin for the company was 20.70%, down by 2.44 percentage points compared to the previous year[61]. Revenue Breakdown - The company's total revenue for 2024 was CNY 2,235,092,376.75, representing a year-on-year decrease of 6.30%[60]. - Revenue from PE pipe products was CNY 379,280,981.09, an increase of 7.73% year-on-year[60]. - Revenue from steel wire pipe products decreased by 24.89% to CNY 292,677,776.32[60]. - Revenue from anti-corrosion pipe products was CNY 1,399,109,950.79, reflecting a year-on-year increase of 8.73%[60]. - Revenue from insulation products fell by 44.06% to CNY 91,253,921.84[60]. - PVC product revenue decreased by 55.42% to CNY 48,450,875.65[60]. - Other pipe products saw a revenue decline of 48.72%, totaling CNY 21,783,547.65[60]. - Pipeline engineering revenue was CNY 2,535,323.41, a significant decrease of 94.04% year-on-year[60]. - The main product structure indicates that anti-corrosion pipe products accounted for 62.60% of total revenue[61]. Cost Management - Operating costs decreased by 12.31% to CNY 2,024,863,125.39, primarily due to reduced sales orders[56]. - Total costs decreased by 12.31% to CNY 2,024,863,125.39, with direct materials accounting for 89.74% of total costs[63]. - The company reported a significant reduction in costs for the pipeline engineering segment, with costs dropping by 94.62% to CNY 1,370,201.70[63]. - Direct materials for anti-corrosion pipelines increased by 11.52% to CNY 1,022,460,387.50, while direct labor costs rose by 29.25%[63]. Research and Development - Research and development expenses were CNY 86,460,792.32, a slight decrease of 1.78% compared to the previous year[56]. - The company filed 55 patent applications during the reporting period, including 28 invention patents, bringing the total number of valid patents to 199, and led the development of multiple national and industry standards[36]. - The company is committed to increasing R&D investment, particularly in modified materials, composite pipelines, and smart pipeline networks, to develop high-quality, differentiated, and customized products[91]. - The number of R&D personnel is 172, making up 11.32% of the total workforce[69]. Market Expansion and Strategy - The company is focusing on market expansion in emerging fields such as hydrogen energy, nuclear power, and marine photovoltaics[32]. - The company plans to enhance its brand advantage and technological research and development capabilities while providing integrated solutions for various engineering projects[32]. - The company is actively participating in national strategic projects like the national water network and natural gas pipeline construction, seizing policy opportunities in the rapidly developing urban renewal and lifeline industries[44]. - The company plans to establish a new joint venture, Ningxia Guohong Pipeline Technology Co., Ltd., with a registered capital of CNY 10 million, in which the company holds a 70% stake[65]. - The company is considering strategic acquisitions to enhance its product portfolio and market presence, with a budget of 300 million RMB allocated for potential deals[111]. Corporate Governance - The company held 2 shareholder meetings during the reporting period, ensuring compliance with legal requirements and maintaining shareholder rights[99]. - The board of directors convened 6 times, with a composition of 9 members, including 3 independent directors, ensuring effective governance[100]. - The company has implemented a transparent performance evaluation and incentive mechanism for senior management to promote sustainable development[102]. - The company has maintained independence from its controlling shareholder in terms of personnel, assets, finance, and operations[104]. - The company has adopted measures to enhance internal control systems and improve corporate governance standards[103]. Social Responsibility and Environmental Initiatives - The company is committed to social responsibility, integrating it with its development strategy and corporate culture[160]. - The company has invested 926.82 million CNY in environmental protection during the reporting period[150]. - The company has obtained a pollution discharge permit and adheres to environmental management standards, ensuring compliance with various environmental laws and regulations[153]. - The company has implemented measures for the treatment of waste gases, wastewater, noise, and solid waste, ensuring all pollutants are treated and discharged in compliance with standards[154]. - The company has developed an emergency response plan for environmental incidents and has conducted drills to enhance its response capabilities, with no major environmental accidents reported in the last three years[156]. Legal Matters - The company has ongoing litigation involving a total amount of 1,652.25 million RMB, with an outstanding balance of 872.44 million RMB yet to be executed[177]. - The company has successfully won a case against Chongqing Xiangrong Building Materials Co., with a judgment requiring payment of 3.25 million RMB plus overdue payment penalties[178]. - The company has initiated litigation against Chongqing Nengtou Yuxin Energy Co., seeking 4,214.50 million RMB in payments and penalties, with the case scheduled for a hearing[178]. - The company is actively pursuing legal actions to recover outstanding debts, indicating a strategic focus on improving cash flow through litigation[177]. Shareholder and Executive Compensation - The total pre-tax compensation for the executives listed amounted to 9,927,700 RMB[110]. - The company has a structured performance evaluation system for determining the compensation of directors and senior management based on annual operational goals and individual performance assessments[118]. - The board of directors approved the annual compensation plan for 2023-2024, which will be submitted for shareholder approval[118]. - The total number of shares held by the chairman, Ni Liying, remained unchanged at 31,281,250 shares, with a pre-tax compensation of 546,500 RMB[108]. Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 1.32 billion RMB[111]. - The management team emphasized the importance of sustainability initiatives, targeting a 25% reduction in carbon emissions by 2025[111]. - The company aims to achieve steady growth in operating revenue and net profit, emphasizing quality, efficiency, and stability in its development strategy[90].

对会计师事务所 2024 年度履职情况评估报告 山东东宏管业股份有限公司（以下简称"公司"）聘请致同会计师事务所（特 殊普通合伙）（以下简称"致同"）作为公司 2024 年度财务报告和内部控制审计 机构。根据财政部、国资委及中国证监会颁布的《国有企业、上市公司选聘会计 师事务所管理办法》，公司对致同 2024 年审计过程中的履职情况进行评估，具体 情况如下： 一、会计师事务所基本情况 （一）基本信息 山东东宏管业股份有限公司 二、执业记录 致同所近三年因执业行为受到刑事处罚 0 次、行政处罚 2 次、监督管理措施 15 次、自律监管措施 9 次和纪律处分 0 次。 致同会计师事务所（特殊普通合伙）前身是成立于 1981 年的北京会计师事 务所，2011 年 12 月 22 日经北京市财政局批准转制为特殊普通合伙，2012 年更 名为致同会计师事务所（特殊普通合伙）。注册地址为北京市朝阳区建国门外大 街 22 号赛特广场五层，首席合伙人为李惠琦先生。 截至 2024 年年末，致同从业人员总数超过 5,000 人，其中合伙人 239 人， 注册会计师 1,359 人，从事过证券服务业务的注册会计师超过 400 人 ...

山东东宏管业股份有限公司 2024 年度董事会审计委员会履职情况报告 根据《上海证券交易所上市公司自律监管指引第 1 号-规范运作》、《公司章 程》及《董事会审计委员会实施细则》的有关规定，公司第四届董事会审计委员 会成员本着勤勉尽责的原则，认真履行了审计监督职责，现就 2024 年度工作情 况向董事会作如下报告： 一、审计委员会基本情况 报告期内，公司第四届董事会审计委员会委员为独立董事孔祥勇、独立董事 魏学军、独立董事鲁昕，其中会计专业人士孔祥勇为召集人。 5、第四届董事会审计委员会 2024 年第四次会议于 2024 年 10 月 28 日召开， 审议并通过了《关于 2024 年第三季度报告的议案》、《关于增加 2024 年度日常关 联交易预计的议案》。 三、审计委员会主要工作内容 1、监督及评估外部审计机构工作 审计委员会全部成员均具有能够胜任审计委员会工作职责的专业知识和工 作经验，符合上海证券交易所的相关规定和《公司章程》、《董事会审计委员会实 施细则》的有关要求。 二、审计委员会会议召开情况 2024 年度，审计委员会共召开了 5 次会议，全体委员亲自出席了会议，召 开会议的情况具体如下： 1、 ...

山东东宏管业股份有限公司 关于 2025 年度日常关联交易预计的公告 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： 证券代码：603856 证券简称：东宏股份 公告编号：2025-017 本次日常关联交易预计尚需提交股东大会审议。 本次关联交易均属山东东宏管业股份有限公司（以下简称"公司"）与 关联方之间在生产经营中正常的购销往来和租赁等服务，符合公司业务发展需要， 有利于公司健康稳定发展。公司与各关联方的关联交易，严格按照关联交易定价 原则执行，不会对公司本期以及未来财务状况及经营成果产生重大不利影响，不 存在损害公司和全体股东利益的行为，公司主营业务不会因此类交易而对关联方 形成依赖。 一、预计 2025 年度日常关联交易的基本情况 （一）日常关联交易履行的审议程序 2025 年 4 月 23 日，公司召开第四届董事会第十八次会议和第四届监事会第 十五次会议，分别审议通过了《关于公司 2025 年度日常关联交易预计的议案》， 关联董事倪立营先生、倪奉尧先生、孔智勇先生、寻金龙先生回避了表决，与关 联方预计发 ...

山东东宏管业股份有限公司 董事会审计委员会对会计师事务所 2024 年度履行监督职责情况报告 根据《中华人民共和国公司法》、《中华人民共和国证券法》、《上市公司治理 准则》、《国有企业、上市公司选聘会计师事务所管理办法》、《上海证券交易所上 市公司自律监管指引第 1 号―规范运作》等法律法规的要求，山东东宏管业股份 有限公司（以下简称"公司"）董事会审计委员会对会计师事务所 2024 年度审计 工作履行监督职责的情况汇报如下： 一、2024 年年审会计师事务所基本情况 根据公司《董事会审计委员会实施细则》等有关规定，审计委员会对会计师 事务所履行监督职责的情况如下： （一）会计师事务所基本情况 致同会计师事务所（特殊普通合伙）（以下简称"致同"）前身是成立于 1981 年的北京会计师事务所，2011 年 12 月 22 日经北京市财政局批准转制为特殊普 通合伙，2012 年更名为致同会计师事务所（特殊普通合伙）。注册地址为北京市 朝阳区建国门外大街 22 号赛特广场五层，首席合伙人为李惠琦先生。 截至 2024 年年末，致同从业人员总数超过 5,000 人，其中合伙人 239 人， 注册会计师 1,359 人 ...

山东东宏管业股份有限公司 关于募集资金投资项目延期的公告 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。 山东东宏管业股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日召开 第四届董事会第十八次会议和第四届监事会第十五次会议，审议通过了《关于募 集资金投资项目延期的议案》，同意在不改变募集资金投资项目（以下简称"募 投项目"）实施主体、募集资金投资用途的情况下，将"年产 7.4 万吨高性能复 合管道扩能项目"达到预定可使用状态日期调整至 2025 年 12 月。根据相关规定， 本次募投项目延期事项不涉及变相改变募集资金用途，无需提交公司股东大会审 议。现将相关情况公告如下： 一、募集资金基本情况 经中国证券监督管理委员会出具的《关于同意山东东宏管业股份有限公司向 特定对象发行股票注册的批复》（证监许可〔2024〕228 号），公司获准向特定对 象发行股票。公司本次向特定对象发行人民币普通股（A 股）25,641,460 股，每 股发行价格为人民币 9.78 元，募集资金人民币 250,773,478.80 元， ...

山东东宏管业股份有限公司董事会 关于独立董事独立性自查情况的专项意见 根据《上市公司独立董事管理办法》、《上海证券交易所股票上市规则》、《上 海证券交易所上市公司自律监管指引第 1 号-规范运作》等要求，山东东宏管业 股份有限公司（以下简称"公司"）董事会，就公司在任独立董事的独立性情况 进行评估并出具如下专项意见： 经核查独立董事孔祥勇先生的任职经历以及其签署的自查文件，独立董事孔 祥勇先生未在公司担任除独立董事以外的任何职务，也未在公司主要股东单位担 任任何职务，与公司及公司主要股东之间不存在利害关系或其他可能妨碍其进行 独立客观判断的关系。因此，独立董事孔祥勇先生符合《上市公司独立董事管理 办法》、《上海证券交易所上市公司自律监管指引第 1 号-规范运作》等规定中对 独立董事独立性的相关要求。 山东东宏管业股份有限公司董事会 2025 年 4 月 25 日 山东东宏管业股份有限公司董事会 关于独立董事独立性自查情况的专项意见 根据《上市公司独立董事管理办法》、《上海证券交易所股票上市规则》、《上 海证券交易所上市公司自律监管指引第 1 号-规范运作》等要求，山东东宏管业 股份有限公司（以下简称"公司"） ...

山东东宏管业股份有限公司 2024 年度财务决算报告 一、2024 年度公司财务报表的审计情况 1、公司 2024 年财务报表已经致同会计师事务所（特殊普通合伙）审计，出具标准无保留意见的审计报 告。现将 2024 年度主要会计数据及财务指标完成情况报告如下： 2、主要财务数据和指标： 单位：元币种：人民币 | 项目 | 2024 年 | 2023 年 | 本期比上年同 | 2022 年 | | --- | --- | --- | --- | --- | | | | | 期增减(%) | | | 营业收入 | 2,489,534,657.57 | 2,864,070,391.16 | -13.08 | 2,851,463,620.46 | | 归属于上市公司股东的净利润 | 169,238,434.47 | 161,127,848.82 | 5.03 | 149,206,338.14 | | 归属于上市公司股东的扣除非 经常性损益的净利润 | 132,419,412.14 | 148,366,892.61 | -10.75 | 128,419,778.65 | | 经营活动产生的现金流量净额 | 94,457 ...