Financial Performance - The company's operating revenue for Q1 2025 was CNY 275,034,192.13, a decrease of 5.13% compared to CNY 289,910,186.13 in the same period last year[4] - Net profit attributable to shareholders was CNY 46,160,513.83, down 10.94% from CNY 51,830,617.50 year-on-year[4] - Basic and diluted earnings per share were both CNY 0.19, reflecting a decline of 13.64% from CNY 0.22 in the previous year[5] - Operating profit for Q1 2025 was CNY 50,965,027.29, down from CNY 59,345,782.66 in the same period last year, reflecting a decline of 14.5%[19] - The company reported a total comprehensive income of CNY 45,761,794.29 for Q1 2025, a decrease of 12.6% from CNY 52,258,816.57 in Q1 2024[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,827,121,917.99, a decrease of 0.98% from CNY 2,855,011,693.38 at the end of the previous year[5] - Total liabilities decreased to CNY 449,110,648.56 as of March 31, 2025, from CNY 522,762,218.24 at the end of 2024, a reduction of 14.0%[14] - The company's equity attributable to shareholders increased to CNY 2,372,309,334.53 as of March 31, 2025, compared to CNY 2,326,600,420.55 at the end of 2024, reflecting a growth of 1.96%[15] Cash Flow - The net cash flow from operating activities was CNY 32,669,953.39, down 8.80% from CNY 35,823,617.84 in the same period last year[4] - Cash flow from operating activities for Q1 2025 was CNY 32,669,953.39, compared to CNY 35,823,617.84 in Q1 2024, indicating a decrease of 6.0%[24] - The company incurred interest expenses of CNY 913,282.82 in Q1 2025, compared to CNY 365,492.30 in Q1 2024, representing a significant increase of 149.8%[19] - The company’s investment activities resulted in a net cash outflow of CNY 37,729,703.90 in Q1 2025, compared to a net outflow of CNY 62,543,163.64 in Q1 2024, indicating an improvement of 39.6%[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,654[9] - The largest shareholder, Hangzhou LianDe Holdings Co., Ltd., holds 33.53% of the shares, totaling 80,863,200 shares[9] Research and Development - Research and development expenses increased to CNY 18,481,087.45 in Q1 2025, up from CNY 15,413,843.95 in Q1 2024, representing a growth of 20.1%[18] - The company plans to continue investing in R&D and market expansion strategies to drive future growth[18] - The company has not reported any new product developments or market expansion strategies in this quarter[3] Other Financial Metrics - The weighted average return on equity decreased to 1.96%, down from 2.28% in the same period last year, a drop of 0.32 percentage points[5] - Total operating costs for Q1 2025 were CNY 219,618,740.57, down from CNY 226,718,593.81 in Q1 2024, reflecting a reduction of 3.9%[18] - Total revenue from sales in Q1 2025 was CNY 226,701,602.96, down 13.0% from CNY 260,586,821.89 in Q1 2024[23] - The company reported non-recurring gains and losses totaling CNY 1,542,992.53 after tax[7] - Cash and cash equivalents as of March 31, 2025, were CNY 744,626,688.68, a decrease from CNY 773,051,610.49 as of December 31, 2024[12] - Accounts receivable increased to CNY 330,264,991.15 as of March 31, 2025, compared to CNY 302,361,139.68 at the end of 2024, indicating an increase of 9.3%[12]

证券代码：605060 证券简称：联德股份 公告编号：2025-011 杭州联德精密机械股份有限公司 关于回购注销 2022 年限制性股票激励计划 部分限制性股票的公告 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： 杭州联德精密机械股份有限公司（以下简称"公司"）于 2025 年 4 月 21 日召开的第三届董事会第十次会议、第三届监事会第十次会议，审议通过了《关 于回购注销 2022 年限制性股票激励计划部分限制性股票的议案》，同意公司对 2022 年限制性股票激励计划（以下简称"本次激励计划"）50 名激励对象已获 授但尚未解除限售的 59.20 万股限制性股票进行回购注销。现将有关事项说明如 下： 一、本次激励计划已履行的审议程序及信息披露情况 （一）2022 年 9 月 21 日，公司召开第二届董事会第十五次会议，审议通过 了《关于<杭州联德精密机械股份有限公司 2022 年限制性股票激励计划（草案）> 及其摘要的议案》《关于<杭州联德精密机械股份有限公司 2022 年限制性股票激 励计划实施考核管理 ...

之 深圳价值在线咨询顾问有限公司 关于 杭州联德精密机械股份有限公司 2022 年限制性股票激励计划 第二个解除限售期解除限售条件未成就暨 回购注销部分限制性股票相关事项 独立财务顾问报告 $$=\mathbf{o}-\mp\hbar\oplus\mathbb{P}\mathbb{P}$$ | | | 深圳价值在线咨询顾问有限公司 独立财务顾问报告 第一章 释 义 在本报告中，如无特殊说明，下列简称具有如下含义： | 释义项 | | 释义内容 | | --- | --- | --- | | 联德股份、本公司、公司、 | 指 | 杭州联德精密机械股份有限公司 | | 上市公司 | | | | 本次激励计划 | 指 | 杭州联德精密机械股份有限公司 2022 年限制性股票 | | | | 激励计划 | | 《激励计划（草案）》 | 指 | 《杭州联德精密机械股份有限公司 2022 年限制性股 | | | | 票激励计划（草案）》 | | | | 《深圳价值在线咨询顾问有限公司关于杭州联德精 | | 本报告、本独立财务顾问报 | 指 | 密机械股份有限公司 2022 年限制性股票激励计划第 | | 告 | | 二个 ...

Investment Rating - The report assigns a "Buy" investment rating for the company [8] Core Views - The demand for refrigeration compressors is high due to the expansion of high-end equipment needs, benefiting the company as a leading precision machinery manufacturer in China [2] - The company has established strong relationships with overseas core clients, which are becoming a new growth engine for its business [3] - The company is making significant progress in capacity expansion and new product development, indicating strong potential for future earnings growth [4][7] Summary by Sections Market Performance - The company has shown a strong market performance, with its overseas revenue share increasing from 33% in 2021 to 44% in 2023, reflecting robust international expansion capabilities [3] Financial Forecast - Revenue projections for 2024, 2025, and 2026 are estimated at 11.96 billion, 15.03 billion, and 18.54 billion yuan respectively, with corresponding EPS of 0.89, 1.20, and 1.52 yuan [8][10] - The company is expected to experience stable growth due to its global layout and gradual capacity release [8] Production and R&D - The company is currently constructing a factory in Mexico, expected to partially commence production in 2025, which will enhance its overseas capacity and mitigate trade risks [4] - R&D investment has been increasing, with 0.53 billion yuan spent in the first nine months of 2024, representing a 6.24% R&D expense ratio, up by 0.64 percentage points from the previous period [7]

证券代码：605060 证券简称：联德股份 公告编号：2024-058 杭州联德精密机械股份有限公司 关于公司股票交易异常波动公告 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： 杭州联德精密机械股份有限公司（以下简称"公司"或"本公司"）股 票于 2024 年 12 月 26 日、12 月 27 日、12 月 30 日连续三个交易日内日收盘价格 涨幅偏离值累计超过 20%。根据《上海证券交易所交易规则》的有关规定，属于 股票交易异常波动情形。 经公司自查并向控股股东及实际控制人核实，截至本公告披露日，不存 在应披露而未披露的重大信息。 公司敬请广大投资者注意二级市场交易风险，理性决策，审慎投资。 一、股票交易异常波动的具体情况 公司股票于 2024 年 12 月 26 日、12 月 27 日、12 月 30 日连续三个交易日内 收盘价格涨幅偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规 定，属于股票交易价格异常波动。 （一）生产经营情况 公司 2024 年前三季度营业收入 8.51 亿元，同比 ...

Group 1: Company Overview - Hangzhou LianDe Precision Machinery Co., Ltd. is a leading manufacturer of precision mechanical components and has established strong partnerships with major global HVAC companies like McQuay [1][3]. - The company specializes in high-precision mechanical parts and precision cavity molds, providing comprehensive services from casting to machining [9]. Group 2: Market Position and Clients - The company holds a significant market position in the air compressor and refrigeration compressor parts sector, recognized as a national "specialized and innovative" enterprise [10]. - Key clients include major international companies such as Johnson Controls, Trane Technologies, and Carrier, with a focus on providing efficient and reliable temperature control solutions [10]. Group 3: Product Applications - The company's compressors are primarily used in HVAC systems, residential, commercial, and industrial refrigeration systems, as well as in oil and gas, manufacturing, and wind power industries [3][4]. - Recent developments in AI and cloud computing have increased demand for cooling systems in data centers, where the company's compressors are widely applied [4][10]. Group 4: Growth and Expansion Strategies - The company is expanding its North American market presence by establishing AMR in the U.S. and a new factory in Mexico, aimed at enhancing local service efficiency and product supply [6]. - Plans to increase capital investment will further boost the company's production capacity and market share in the global precision component sector [10]. Group 5: Industry Trends and Demand - The demand for diesel generators and gas turbines is strong due to their role as backup power sources for data centers, ensuring operational continuity during power outages [11]. - The company is positioned to meet the growing needs of the data center industry, with a stable supply chain supported by domestic bases and overseas subsidiaries [11].

杭州联德精密机械股份有限公司 关于预计 2025 年度日常关联交易额度的公告 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法律责任。 重要内容提示： 证券代码：605060 证券简称：联德股份 公告编号：2025-056 本次关于预计 2025 年度日常关联交易额度事项无需提交股东大会审议。 日常关联交易对上市公司的影响：杭州联德精密机械股份有限公司（以 下简称"公司"）本次预计的 2025 年度日常关联交易系公司正常生产经营需要， 有助于公司日常经营业务的开展和执行，符合公司正常生产经营的客观需要，不 会对公司的财务状况、经营成果产生不利影响，符合公司和全体股东的利益。关 联交易在公司同类业务所占比重较小，公司主要业务、收入、利润来源对关联交 易无重大依赖，关联交易对公司独立性未产生不利影响。 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 公司于 2024 年 12 月 24 日召开了第三届董事会第九次会议，以 5 票同意， 0 票反对，0 票弃权审议通过了《关于预计 2025 年度日常关联交易额度的议案》， 关联董事 ...

杭州联德精密机械股份有限公司（以下简称"公司"）第三届监事会第九次 会议于 2024 年 12 月 24 日（星期二）在公司二楼会议室以现场的方式召开。会 议通知已于 2024 年 12 月 19 日通过书面的方式送达各位监事。本次会议应出席 监事 3 人，实际出席监事 3 人。 证券代码：605060 证券简称：联德股份 公告编号：2024-055 杭州联德精密机械股份有限公司 第三届监事会第九次会议决议公告 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、监事会会议召开情况 监事会认为：本次募投项目结项并将节余募集资金永久补充流动资金事项有 利于提高募集资金使用效率，促进公司发展，符合相关法律法规的规定，不存在 损害公司及股东利益的情形。监事会同意公司本次募投项目结项并将节余募集资 金永久补充流动资金事项。 会议由监事会主席吴耀章主持，公司部分高级管理人员列席会议。会议召 开符合有关法律、法规、规章和《公司章程》的规定。出席会议的监事对各项议 案进行了认真审议并做出了如下决议： 二、监事会会议审议情况 （一）、审议通过 ...

证券代码：605060 证券简称：联德股份 公告编号：2024-054 杭州联德精密机械股份有限公司 第三届董事会第九次会议决议公告 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 杭州联德精密机械股份有限公司（以下简称"公司"）第三届董事会第九次会 议于 2024 年 12 月 24 日（星期二）在公司二楼会议室以现场的方式召开。会议 通知已于 2024 年 12 月 19 日通过书面的方式送达各位董事。本次会议应出席董 事 7 人，实际出席董事 7 人。 会议由董事长孙袁主持，监事、高管列席。会议召开符合有关法律、法规、 规章和《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 表决结果：5 票同意，0 票反对，0 票弃权。 关联董事孙袁、朱晴华回避表决。 具体内容详见公司披露于上海证券交易所网站（www.sse.com.cn）的《杭 州联德精密机械股份有限公司关于预计 2025 年度日常关联交易额度的公告》 （公告编号：2024-056）。 （二）审议通过《关于首 ...

中信证券股份有限公司（以下简称"中信证券"、"保荐机构"）作为杭州联德精 密机械股份有限公司（以下简称"联德股份"、"公司"）首次公开发行股票并在上交 所主板上市的保荐机构，根据《中华人民共和国证券法》、《证券发行上市保荐业务管 理办法》、《上海证券交易所股票上市规则》和《上海证券交易所上市公司自律监管指 引第 11 号——持续督导》等法律、行政法规、部门规章及业务规则，对联德股份首次 公开发行股票募投项目结项并将节余募集资金永久补充流动资金的事项进行了审慎核 查，发表如下核查意见： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准杭州联德精密机械股份有限公司首次公开发 行股票的批复》（证监许可〔2020〕3550 号）核准，并经上海证券交易所同意，公司 首次向社会公开发行人民币普通股（A 股）60,000,000 股，发行价格为 15.59 元/股。募 集资金总额为人民币 935,400,000 元，扣除发行费用人民币（不含增值税）74,170,455.57 元后，实际募集资金净额为人民币 861,229,544.43 元。本次发行募集资金已于 2021 年 2 月 24 日全部到位，并经天健会计师 ...