Investment Rating - The industry investment rating is "Overweight" [3][30]. Core Viewpoints - The humanoid robot industry is expected to see significant growth, with a projected cumulative demand of approximately 2 million units by 2030, indicating a critical breakthrough phase from 0 to 1 [6][24]. - The report highlights key companies to watch in the humanoid robot supply chain, including Tier 1 suppliers and core component manufacturers [6][24]. - The report emphasizes the importance of technological advancements in various sectors, including photovoltaic equipment, energy storage, semiconductor equipment, automation, and hydrogen energy, suggesting a favorable outlook for leading companies in these areas [6][25][26]. Summary by Sections Humanoid Robots - Recent developments include the launch of the first domestic AI-powered exoskeleton robot by Zhiyuan, which features advanced technology for various applications [7]. - The first batch of 220 humanoid robots was delivered by Chery, showcasing their capabilities in customer service and sales guidance [17]. - The World Humanoid Robot Sports Competition is set to take place in August, highlighting the growing interest and innovation in the humanoid robotics field [23]. Photovoltaic Equipment - The penetration rate of N-type photovoltaic technology is accelerating, strengthening the competitive edge of leading companies [25]. - The report suggests focusing on companies that are innovating in cost-reduction technologies and expanding production capacity [25]. Energy Storage - Favorable policies are expected to drive growth in both generation-side and user-side energy storage [25]. - Companies like Xingyun Co. are positioned to benefit from strategic partnerships in the energy storage sector [25]. Semiconductor Equipment - The semiconductor equipment market is projected to reach $140 billion by 2030, with a focus on domestic alternatives due to low current localization rates [26]. - The report recommends monitoring companies that are well-positioned to capitalize on this trend [26]. Automation - The market for industrial tools is expected to grow from approximately 40 billion to 55.7 billion by 2026, with opportunities for leading companies to gain market share through increased concentration and import substitution [26]. Hydrogen Energy - The report highlights the potential of green hydrogen in achieving carbon neutrality, with a focus on companies that integrate the hydrogen supply chain [25].

株洲欧科亿数控精密刀具股份有限公司 2024 年年度股东大会会议资料 证券代码：688308 证券简称：欧科亿 株洲欧科亿数控精密刀具股份有限公司 2024 年年度股东大会会议资料 2025 年 5 月 株洲欧科亿数控精密刀具股份有限公司 2024 年年度股东大会会议资料 目 录 | 2024 年年度股东大会会议须知 | | 1 | | --- | --- | --- | | 2024 年年度股东大会会议议程 | | 3 | | 议案一：2024 年度董事会工作报告 | | 5 | | 议案二：2024 年度监事会工作报告 | | 9 | | 议案三：2024 年年度报告及摘要 | | 12 | | 议案四：2024 年度财务决算报告 | | 13 | | 议案五：关于 2024 年度利润分配预案的议案 | 17 | | | 议案六：关于续聘会计师事务所的议案 | 18 | | | 议案七：关于公司董事薪酬方案的议案 | 19 | | | 议案八：关于公司监事薪酬方案的议案 | 20 | | | 听取事项：株洲欧科亿数控精密刀具股份有限公司 | 2024 年度独立董事述职报告 | 21 | 株洲欧科亿数控精密 ...

Group 1 - The company has successfully completed its initial public offering and is under continuous supervision by the sponsor institution, Minsheng Securities [7] - The company has adhered to relevant laws and regulations during the issuance process, ensuring compliance in documentation and communication with regulatory bodies [1][2] - The company has maintained a focus on internal control and operational compliance during the continuous supervision phase [2][4] Group 2 - The company has reported a slight increase in revenue, while net profit has decreased due to initial low gross margins from new projects and increased operational costs [17] - The company has invested 85.86 million yuan in research and development, representing 7.62% of its revenue, which is an increase of 1.4 percentage points year-on-year [18][19] - The company has received multiple awards for its technological innovations and has significantly increased its patent portfolio, with a total of 187 patents granted [18] Group 3 - The company faces risks related to performance decline due to initial production phases and increased costs, which could impact future profitability [8] - The company is exposed to competitive pressures in the CNC tool manufacturing sector, particularly from imported brands that dominate the market [9] - The company has implemented measures to manage raw material price fluctuations, particularly for tungsten carbide, which constitutes a significant portion of its production costs [11]

民生证券股份有限公司 关于株洲欧科亿数控精密刀具股份有限公司 2024年度持续督导跟踪报告 根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上 市规则》等有关法律、法规的规定，民生证券股份有限公司（以下简称"保荐机 构"）作为株洲欧科亿数控精密刀具股份有限公司（以下简称"欧科亿"或"公司"） 首次公开发行股票并在科创板上市及 2022 年度向特定对象发行股票的保荐机构， 负责欧科亿上市后的持续督导工作，并出具本持续督导跟踪报告。 | 序号 | 工作内容 | 持续督导情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制度，并针对具体 | 保荐机构已建立健全并有效执行 | | | 的持续督导工作制定相应的工作计划 | 了持续督导制度，并制定了相应 | | | | 的工作计划 | | | 根据中国证监会相关规定，在持续督导工作开始前， | 保 荐 机 构 已 与 欧 科 亿 签 订 | | 2 | 与上市公司或相关当事人签署持续督导协议，明确双 | 《保 荐协 议》，该协议明确了双方 | | | 方在持续督导期间的权利义务，并报上海证券交易所 | 在持续督导期 ...

民生证券股份有限公司 关于株洲欧科亿数控精密刀具股份有限公司持续督导保荐工作总结 报告书 | 保荐机构名称：民生证券 | 保荐机构编号：Z24641000 | | --- | --- | | 申报时间：首次公开发行股票申报时间：2020 | 年 4 月 | | 向特定对象发行股票申报时间：2022 | 年 月 6 | 一、保荐机构及保荐代表人承诺 三、上市公司的基本情况 | 上市公司名称 | 株洲欧科亿数控精密刀具股份有限公司 | | --- | --- | | 证券代码 | 688308 | | 注册资本 | 万元 15878.1708 | | 注册地址 | 湖南省株洲市炎陵县中小企业创业园创业路 | | 主要办公地址 | 湖南省株洲市炎陵县中小企业创业园创业路 | | | 湖南省株洲市芦淞区董家塅高科园创业四路 号 8 | | 法定代表人 | 袁美和 | | 控股股东 | 袁美和、谭文清 | | --- | --- | | 实际控制人 | 袁美和、谭文清 | | 联系人 | 韩红涛 | | 联系电话 | 0731-22673968 | 四、保荐工作概述 （一）尽职推荐阶段 在尽职推荐期间，保荐人及保荐代表 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 21.30 CNY [2][8]. Core Insights - The company reported a revenue of 1.127 billion CNY for 2024, representing a year-on-year increase of 9.81%. However, the net profit attributable to the parent company decreased significantly by 65.48% to 57 million CNY [2][4]. - For Q1 2025, the company achieved a revenue of 302 million CNY, up 14.32% year-on-year, but the net profit attributable to the parent company fell by 74.33% to 8 million CNY [2][4]. - The decline in profit is attributed to several factors, including the low gross margin during the initial phase of the CNC tool industrial park project, a decrease in the production of CNC blades, and increased expenses related to product upgrades and new product development [8]. Financial Performance Summary - The total revenue is projected to grow from 1.127 billion CNY in 2024 to 1.892 billion CNY by 2027, with a compound annual growth rate (CAGR) of approximately 18.9% [4][9]. - The net profit is expected to recover from 57 million CNY in 2024 to 198 million CNY in 2027, reflecting a significant growth rate of 22.3% in the final year of the forecast [4][9]. - The earnings per share (EPS) are projected to increase from 0.36 CNY in 2024 to 1.25 CNY in 2027, indicating a positive trend in profitability [4][9]. Market Dynamics - The company is experiencing growth in its hard alloy products, with a revenue increase of 12.50% in 2024, while CNC tools saw a modest growth of 3.35% [8]. - The overseas sales revenue reached 209 million CNY in 2024, marking a substantial increase of 49.22%, with CNC tool exports growing by 54.62% [8]. - The company is focusing on innovative sales models and comprehensive solutions, which are being validated in various sectors such as automotive, aerospace, and new energy [8].

Financial Performance - The company's revenue for Q1 2025 was CNY 301,672,910.35, representing a 14.32% increase compared to CNY 263,887,915.53 in the same period last year[4]. - Net profit attributable to shareholders decreased by 74.33% to CNY 7,663,175.54 from CNY 29,849,198.35 year-on-year[4]. - The net profit after deducting non-recurring gains and losses fell by 90.54% to CNY 1,264,846.05 compared to CNY 13,371,772.04 in the previous year[4]. - The basic earnings per share decreased by 73.68% to CNY 0.05 from CNY 0.19 in the same period last year[4]. - The company reported a net profit margin improvement, with net profit for Q1 2025 expected to reflect the growth in revenue and controlled costs[16]. - The net profit for the first quarter of 2025 was CNY 6,631,747.16, a significant decrease from CNY 29,849,198.35 in the same period of 2024, representing a decline of approximately 77.8%[18]. - Operating profit for the first quarter of 2025 was CNY 3,640,751.88, down from CNY 37,241,654.00 in the first quarter of 2024, indicating a decrease of about 90.2%[18]. - Total revenue from sales of goods and services in the first quarter of 2025 was CNY 139,840,717.34, slightly up from CNY 134,390,498.21 in the first quarter of 2024, reflecting a growth of approximately 4.1%[19]. Expenses and Costs - Research and development expenses totaled CNY 18,982,369.36, accounting for 6.29% of revenue, down from 6.90% in the previous year[4]. - The company incurred research and development expenses of CNY 18,982,369.36 in the first quarter of 2025, compared to CNY 18,206,523.68 in the first quarter of 2024, indicating an increase of about 4.3%[18]. - Total operating costs for Q1 2025 were RMB 296,306,221.37, up from RMB 240,256,779.23 in Q1 2024, reflecting a year-over-year increase of 23.4%[16]. - The financial expenses for the first quarter of 2025 were CNY 4,825,679.46, up from CNY 3,382,385.62 in the first quarter of 2024, representing an increase of approximately 42.8%[18]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,938,891,534.29, a decrease of 0.52% from CNY 3,959,655,725.47 at the end of the previous year[4]. - Total assets as of March 31, 2025, were RMB 3,938,891,534.29, a slight decrease from RMB 3,959,655,725.47 at the end of 2024[14]. - Total liabilities decreased to RMB 1,380,720,800.52 as of March 31, 2025, from RMB 1,409,047,649.01 at the end of 2024, a reduction of 2.0%[15]. - The company's equity attributable to shareholders increased to RMB 2,556,763,580.34 as of March 31, 2025, compared to RMB 2,548,169,494.65 at the end of 2024, an increase of 0.3%[15]. Cash Flow - The company reported a net cash flow from operating activities of -CNY 125,663,071.79, compared to -CNY 133,267,054.46 in the same period last year[4]. - The net cash flow from operating activities for the first quarter of 2025 was negative CNY 125,663,071.79, compared to negative CNY 133,267,054.46 in the first quarter of 2024, showing an improvement of about 5.4%[20]. - Cash and cash equivalents as of March 31, 2025, amounted to RMB 405,174,995.45, compared to RMB 300,014,865.67 at the end of 2024, representing a growth of 35.1%[13]. - Cash and cash equivalents at the end of the first quarter of 2025 amounted to CNY 294,176,740.74, a decrease from CNY 313,644,822.94 at the end of the first quarter of 2024[20]. - The company reported a total cash inflow from investment activities of CNY 192,591,790.14 in the first quarter of 2025, compared to CNY 76,783,549.94 in the same period of 2024, marking an increase of approximately 150.5%[20]. - The total cash outflow from investment activities in the first quarter of 2025 was CNY 77,172,075.97, compared to CNY 268,707,542.27 in the first quarter of 2024, indicating a decrease of about 71.3%[20]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,695[9]. - The weighted average return on equity was 0.30%, down 0.86 percentage points from 1.16% in the previous year[4]. Future Outlook - Future outlook indicates a focus on expanding market presence and enhancing product development to drive growth in subsequent quarters[16]. - The company experienced a significant decline in profitability due to underutilization of production capacity and increased unit costs[7].

证券代码：688308 证券简称：欧科亿 公告编号：2025-021 株洲欧科亿数控精密刀具股份有限公司 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： 投资者可于 2025 年 04 月 30 日（星期三）至 05 月 09 日（星期五）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 oke_info@ oke-carbide.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。 株洲欧科亿数控精密刀具股份有限公司（以下简称"公司"）已于 2025 年 4 月 26 日发布公司 2024 年年度报告，于 2025 年 4 月 29 日披露 2025 年第一季度 报告，为便于广大投资者更全面深入地了解公司 2024 年度以及 2025 年第一季度 经营成果、财务状况，公司计划于 2025 年 05 月 12 日（星期一）14:00-15:00 举行 2024 年度暨 2025 第一季度业绩说明会，就 ...

Financial Performance - The company reported a basic earnings per share of 0.0500 yuan for Q1 2025, a decrease of 73.68% compared to 0.1900 yuan in Q1 2024 [1] - Net profit for Q1 2025 was 0.08 billion yuan, down 73.33% from 0.3 billion yuan in Q1 2024 [1] - Revenue increased to 3.02 billion yuan in Q1 2025, reflecting a growth of 14.39% from 2.64 billion yuan in Q1 2024 [1] - The return on equity (ROE) dropped to 0.30% in Q1 2025, a decline of 74.14% from 1.16% in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 84.35 million shares, accounting for 53.12% of the circulating shares, with a decrease of 539,700 shares compared to the previous period [2] - Major shareholders include Yuan Meihe with 2,528.40 million shares (15.92%), and Greenmei Co., Ltd. with 1,652.35 million shares (10.41%), both showing no change [2] Dividend Policy - The company has decided not to distribute dividends or transfer shares this time [3]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company achieved a revenue of 1.127 billion yuan in 2024, representing a year-on-year increase of 9.81%, while the net profit attributable to shareholders was 57.3 million yuan, down 65.48% year-on-year [2] - The decline in net profit is attributed to increased expenses and asset impairment losses, despite steady revenue growth [2][3] - The company continues to invest heavily in R&D, with R&D expenses reaching 86 million yuan in 2024, a year-on-year increase of 34.50% [5] Revenue and Profitability - In 2024, the company reported total revenue of 1.127 billion yuan, with a year-on-year growth of 9.81% [2] - The gross profit margin decreased to 22.66%, down 6.66 percentage points year-on-year, primarily due to rising raw material costs and lower production capacity utilization [3] - The net profit margin was 4.87%, a decline of 11.30 percentage points year-on-year, driven by increased operating expenses and asset impairment losses [3] Product Performance - The revenue from CNC tool products was 598 million yuan, up 3.35% year-on-year, while hard alloy products generated 501 million yuan, an increase of 12.50% [2] - Domestic revenue was 904 million yuan, a 2.28% increase, while international revenue surged to 209 million yuan, up 49.22% year-on-year, indicating successful overseas market expansion [2] Cash Flow and Inventory - The company's inventory increased to 631 million yuan, a rise of 27.70% year-on-year, due to higher raw material and finished goods stock [4] - Operating cash flow improved to 38 million yuan in 2024, compared to a negative 9 million yuan in 2023, indicating better collection of receivables [4] R&D Investment - The company maintained a high level of R&D investment, with R&D expenses accounting for 7.62% of total revenue [5] - The product matrix was expanded with over 4,470 new hard tools and more than 5,000 types of CNC blades and tool bodies introduced in 2024 [5]