咸亨国际科技股份有限公司 2024 年年度股东大会会议资料 证券代码：605056 公司简称：咸亨国际 咸亨国际科技股份有限公司 2024 年年度股东大会 会议资料 2025 年 5 月 13 日 | 2024 | 年年度股东大会会议须知 | 3 | | --- | --- | --- | | 2024 | 年年度股东大会会议议程 | 4 | | 2024 | 年年度股东大会会议议案 | 6 | | | 听取：2024 年度独立董事述职报告 | 43 | 咸亨国际科技股份有限公司 2024 年年度股东大会会议资料 2024 年年度股东大会会议须知 为维护广大投资者的合法权益，保障股东在本次股东大会期间依法行使权利， 根据《公司法》《上市公司股东大会规则》和《公司章程》等有关规定，特制定 本会议须知： 1 一、公司负责本次股东大会的议程安排和会务工作，出席会议人员应当听从 公司工作人员安排，共同维护好会议秩序。 二、为保证股东大会的正常秩序，除出席会议的股东或者股东代理人、董事、 监事、董事会秘书、其他高级管理人员、见证律师、本次会议议程有关人员及会 务工作人员以外，公司有权拒绝其他人员进入会场。对于影响股东大 ...

Financial Performance - The company's operating revenue for Q1 2025 reached ¥639,772,001.63, representing a 46.04% increase compared to ¥438,076,846.68 in the same period last year[4] - Net profit attributable to shareholders increased by 144.43% to ¥21,571,669.86 from ¥8,825,269.52 year-on-year[4] - The basic earnings per share rose by 150% to ¥0.05 from ¥0.02 in the previous year[4] - Net profit for Q1 2025 was ¥22,369,423.08, up 180% from ¥7,953,905.76 in Q1 2024[19] - Total operating revenue for Q1 2025 reached ¥639,772,001.63, a 46% increase from ¥438,076,846.68 in Q1 2024[18] - Total operating costs for Q1 2025 were ¥628,531,136.65, compared to ¥439,605,639.36 in Q1 2024, reflecting a 43% increase[18] - The company reported a total profit of ¥32,458,337.29 for Q1 2025, significantly higher than ¥11,565,952.83 in Q1 2024[19] Cash Flow - The net cash flow from operating activities was negative at -¥139,820,825.96, slightly worse than -¥130,576,039.52 in the same period last year[4] - The net cash inflow from operating activities was CNY 1,000,199,676.58, an increase from CNY 761,085,683.38 in the previous period, reflecting a growth of approximately 31.4%[24] - The total cash outflow from operating activities was CNY 1,140,020,502.54, compared to CNY 891,661,722.90, indicating a rise of about 28%[24] - The cash inflow from financing activities was CNY 1,630,000.00, while cash outflow was CNY 2,965,323.06, leading to a net cash flow of CNY -1,335,323.06[25] - The total cash and cash equivalents at the end of the period decreased to CNY 222,459,913.90 from CNY 577,392,995.36, a decline of approximately 61.5%[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,887,199,645.63, down 11.15% from ¥3,249,624,276.87 at the end of the previous year[5] - Total liabilities amounted to ¥1,130,318,718.73, down from ¥1,515,311,469.17 in the previous period[15] - Total liabilities decreased to RMB 1,121,106,266.71 from RMB 1,505,348,808.01, a reduction of approximately 25.6%[14] - The company’s total assets amounted to RMB 2,887,199,645.63, down from RMB 3,249,624,276.87, representing a decrease of about 11.1%[14] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,219[9] - Total equity attributable to shareholders reached ¥1,724,460,208.73, compared to ¥1,702,201,224.64 previously[15] Research and Development - Research and development expenses for Q1 2025 were ¥13,831,970.31, up from ¥10,584,425.99 in Q1 2024, indicating a focus on innovation[19] Non-Recurring Items - The company reported a non-recurring loss of -¥66,349.20 after accounting for various non-operating income and expenses[6] - The net profit after deducting non-recurring gains and losses increased by 168.08% to ¥21,638,019.06 from ¥8,071,577.64 year-on-year[4] Cash and Current Assets - The company reported a total current assets of RMB 2,272,338,180.53 as of March 31, 2025, down from RMB 2,638,099,527.13 on December 31, 2024, representing a decrease of approximately 13.9%[13] - Cash and cash equivalents decreased to RMB 675,325,147.10 from RMB 832,176,761.83, a decline of about 18.9%[13] - Accounts receivable decreased to RMB 1,168,463,732.35 from RMB 1,444,927,138.36, reflecting a reduction of approximately 19.1%[13] - Inventory increased to RMB 243,438,119.06 from RMB 189,784,695.01, indicating an increase of about 28.3%[13] Investment Activities - Cash inflow from investment activities totaled CNY 212,327,340.63, significantly higher than CNY 984,789.47 in the prior period[24] - The cash outflow from investment activities surged to CNY 537,001,741.25 from CNY 31,556,976.66, marking a substantial increase[24] - The net cash flow from investment activities was CNY -324,674,400.62, compared to CNY -30,572,187.19 previously, indicating a worsening situation[24]

Core Viewpoint - The company reported a strong financial performance for 2024, with significant year-on-year growth in revenue and net profit, indicating robust operational capabilities and effective cost management [1][2]. Financial Performance - For 2024, the company achieved revenue of 3.61 billion yuan, a year-on-year increase of 23.2%, and a net profit attributable to shareholders of 220 million yuan, up 130.7% [1]. - The fourth quarter alone saw revenue of 1.62 billion yuan, with net profit reaching 130 million yuan, reflecting a year-on-year growth of 28.9% and 253.4% respectively [1]. - The operating cash flow for the year was 290 million yuan, showing a slight increase of 0.6% year-on-year [1]. Industry Growth - The power industry revenue reached 1.86 billion yuan, growing by 5.6%, while other sectors saw a significant increase of 49.8% to 1.74 billion yuan [1]. - New strategic sectors, including oil and gas, nuclear industry, transportation, government emergency services, and power generation, generated 1.09 billion yuan in revenue, marking an 80.0% increase [1]. Sales Model Breakdown - Revenue from distribution products, self-developed products, and services amounted to 2.54 billion yuan, 670 million yuan, and 390 million yuan respectively, with year-on-year growth rates of 23.4%, 29.1%, and 12.9% [2]. Cost Management and Profitability - The overall gross margin for 2024 was 29.7%, a decrease of 2.5 percentage points, primarily due to lower margins from new high-growth sectors [2]. - The expense ratio improved to 19.4%, down 3.3 percentage points, with reductions in sales, management, and R&D expense ratios contributing to enhanced profitability [2]. - The net profit margin for the year was 6.6%, an increase of 2.9 percentage points year-on-year [2]. Q4 Performance Insights - In Q4, the gross margin was 31.8%, down 3.8 percentage points, while the expense ratio was 17.4%, a decrease of 4.6 percentage points [3]. - The net profit margin for Q4 was 8.6%, reflecting a year-on-year increase of 5.0 percentage points [3]. Future Outlook - The company is well-positioned in the power grid sector with a diverse product line and a nationwide service network, anticipating continued revenue growth [3]. - Profitability in new sectors is expected to improve gradually, leading to revised net profit forecasts for 2025 and 2026 at 266 million yuan and 316 million yuan respectively, with a new estimate for 2027 at 359 million yuan [3].

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company achieved revenue of 3.61 billion yuan, net profit attributable to shareholders of 220 million yuan, and net profit excluding non-recurring items of 230 million yuan in 2024, representing year-on-year growth of 23.2%, 130.7%, and 34.7% respectively [1] - The company plans to distribute a dividend of 0.36 yuan per share, yielding 2.6% based on the announcement date [1] - The company is expanding into new strategic sectors, with significant revenue growth in oil and gas, nuclear industry, transportation, government emergency services, and power generation, which collectively generated 1.09 billion yuan in revenue, up 80% year-on-year [2] Financial Performance - The comprehensive gross margin for 2024 was 29.7%, down 2.5 percentage points year-on-year, primarily due to lower margins from new business areas [3] - The operating cash flow for 2024 was 290 million yuan, with a year-on-year increase of 0.6% [1] - The net profit margin for Q4 was 8.6%, an increase of 5.0 percentage points year-on-year [3] Revenue and Profit Forecast - The company is expected to continue revenue growth, with projected revenues of 4.33 billion yuan in 2025 and 5.15 billion yuan in 2026, reflecting growth rates of 19.99% and 19.03% respectively [5] - The forecast for net profit attributable to shareholders is adjusted to 266 million yuan for 2025 and 316 million yuan for 2026, with a new estimate of 359 million yuan for 2027 [4] Valuation Metrics - The report provides a projected P/E ratio of 22 for 2025 and 19 for 2026, indicating a favorable valuation outlook [5] - The projected dividend per share is expected to increase to 0.41 yuan in 2025 and 0.49 yuan in 2026, with a corresponding dividend yield of 2.9% and 3.4% [13]

Group 1: Xianheng International - The company achieved revenue of 3.606 billion yuan, a year-on-year increase of 23.15%, and a net profit of 223 million yuan, a year-on-year increase of 130.67% [1] - In 2024, the company plans to deepen its focus on the power grid sector and expand into oil and gas, power generation, etc., with projected sales of 1.091 billion yuan, a year-on-year increase of 70.97% [1] - The company is utilizing technologies such as drones and embodied intelligence for secondary research and development, leading to product upgrades [1] - The dividend plan for 2024 is set at 0.36 yuan per share, with a total cash dividend and buyback amounting to 203 million yuan, representing a cash dividend ratio of 91.24% [1] - In 2025, the company aims to enhance quality and efficiency, optimize the supply chain, strengthen talent development, and pursue strategic external expansion, including potential mergers and acquisitions [1] - The impact of the China-US tariff trade war on the company is minimal, as its main clients are domestic state-owned enterprises, with a small proportion of overseas business [1] Group 2: Hand Information - In 2024, the company reported revenue of 3.235 billion yuan, a year-on-year increase of 8.57%, and turned a profit with improved cash flow, while its proprietary software business grew by 16.17% [2] - In Q1 2025, the company maintained stable revenue of 740 million yuan [2] - The company aims to gradually increase its profit margin, targeting a return to a historical high of 16%, with AI business revenue expected to double by 2025, reaching 33 million yuan in Q1 [2] - By 2027, AI business is anticipated to become mainstream, with a focus on technology research and development, product layout, and market expansion over the next two to three years [2] - Over 90% of revenue comes from existing customers, providing a solid foundation for promoting new business [2] - The company plans to launch proprietary intelligent agents and MCP business in the second half of the year, with a strong profit margin in AI business and high customer stickiness [2]

咸亨国际 2025042220250416 摘要 • 咸亨国际 2024 年营收同比增长 130.67%，扣非净利润增长 34.65%，财 务报表稳健，无银行借款，现金流良好，分红比例高，并进行了股份回购， 体现了公司良好的发展态势和对投资者的回报。 • 公司战略从传统电网向新领域拓展，制定了 2023-2027 年五年规划，并 设定了营收目标。重点拓展石油石化、核工业、交通应急等领域，并将发 电纳入新的战略产业，同时发展新兴电商板块。 • 2024 年零售行业销售额同比增长 70%至 10.91 亿元，新兴电商行业收入 同比增长 125%至 4.46 亿元，海外销售增速较高，表明公司在各个领域 均有显著增长。 • 公司积极拓展非电网业务，采取军团化作战模式，已服务于包括国家能源 集团在内的 15 个以上央企客户，客户结构成熟，为非电网业务发展奠定 基础。 • 公司重视科技创新和国产替代，尽管关税问题有一定影响，但内循环提升 消费和基建投资将利好公司。与大疆在无人机方向合作，提升自动化巡检 能力，是提质增效的重要策略。 Q&A 咸亨国际 2024 年的财务表现如何？ 2024 年咸亨国际整体营收为 36.6 ...

Core Viewpoint - Xianheng International reported significant growth in revenue and net profit for 2024, but faces challenges in supply chain management and new industry expansion [1] Sales Segment - In 2024, Xianheng International deepened its focus in the power grid sector, optimizing local sales networks and enhancing sales efficiency through regional resource integration and cost reduction [4] - The company actively expanded into five new strategic industries (power generation, oil and gas, nuclear industry, transportation, and government emergency), achieving sales of approximately 1.09 billion yuan, a year-on-year increase of 70.97% [4] - The oil and gas segment continued to develop projects with major state-owned enterprises, while the power generation segment became a new strategic focus, generating sales of 233 million yuan [4] - The emergency response segment, a key area for over a decade, continued to leverage the "Saifucheng" platform to provide comprehensive emergency solutions [4] Self-Industry and R&D - The self-industry segment is crucial for meeting customer needs and enhancing customer loyalty, with a focus on future development [5] - In 2024, the company invested 67.65 million yuan in R&D, a year-on-year increase of 21.49%, focusing on projects such as drone inspection platforms and intelligent power solutions [5] - The company acquired 14.74 acres of industrial land in Hangzhou to establish a "Smart Manufacturing Center," aimed at attracting high-end talent [5][6] Supply Chain Management - The company added over 500,000 SKUs and increased its supplier base to 22,700, implementing a comprehensive MRO supply strategy [7] - Despite the introduction of the "SCM Quotation Collaboration Platform" for online and automated coordination, challenges remain in delivery performance and financial settlement [7] - Future efforts will focus on optimizing supply chain management processes to enhance efficiency and support expansion into new industries [7]

证券代码：605056 证券简称：咸亨国际 公告编号：2025-009 咸亨国际科技股份有限公司 关于召开2024年年度股东大会的通知 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： 一、 召开会议的基本情况 (一)股东大会类型和届次 2024年年度股东大会 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 13 日 14 点 00 分 召开地点：浙江省杭州市拱墅区星璜巷 101 号咸亨科技大厦 股东大会召开日期：2025年5月13日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二)股东大会召集人：董事会 (三)投票方式：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合的 方式 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 5 月 13 日 至2025 年 5 月 13 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 ...

证券代码：605056 证券简称：咸亨国际 公告编号：2025-008 咸亨国际科技股份有限公司 第三届监事会第十次会议决议公告 本公司监事会及全体监事保证本公告内容不存在虚假记载、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。 一、监事会会议召开情况 咸亨国际科技股份有限公司（以下简称"公司"）第三届监事会第十次会议于 2025 年 4 月 10 日以邮件方式发出会议通知，并于 2025 年 4 月 21 日在咸亨科技大厦十 一楼会议室以现场结合通讯表决的方式召开。本次会议应出席监事 3 人，实际出席监 事 3 人，会议由李明亮先生主持，高级管理人员列席了本次会议。会议的召集、召开 符合《公司法》等法律、法规和《咸亨国际科技股份有限公司公司章程》的规定。经 各位监事认真审议，会议形成了如下决议： 二、监事会会议审议情况 （一）审议通过《关于 2024 年度监事会工作报告的议案》 表决情况：同意 3 票，反对 0 票，弃权 0 票。 本议案尚需提交股东大会审议。 1 年年度报告编制和审议的人员存在违反保密规定的行为。 表决情况：同意 3 票，反对 0 票，弃权 0 票。 本议案尚需 ...

证券代码：605056 证券简称：咸亨国际 公告编号：2025-007 咸亨国际科技股份有限公司 第三届董事会第十三次会议决议公告 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。 一、董事会会议召开情况 咸亨国际科技股份有限公司（以下简称"公司"）第三届董事会第十三次会议 于 2025 年 4 月 10 日以邮件方式发出会议通知，并于 2025 年 4 月 21 日在咸亨科技 大厦十一楼会议室以现场结合通讯表决的方式召开。本次会议应出席董事 8 名，实 际出席董事 8 名，会议由董事长王来兴先生主持召开，全体监事及高级管理人员列 席会议。本次会议召开符合《公司法》等法律、法规和《咸亨国际科技股份有限公 司章程》的规定。经各位董事认真审议，会议形成了如下决议： 二、董事会会议审议情况 （一）审议通过《关于 2024 年度总经理工作报告的议案》 表决情况：同意 8 票，反对 0 票，弃权 0 票。 监督职责情况的报告》。 表决情况：同意 8 票，反对 0 票，弃权 0 票。 （五）审议通过《关于 2024 年度财务决算报告的议案》 ...