Investment Rating - The report maintains an "Accumulate" rating for the company [2] 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 [3] - The company continues to invest heavily in research and development, with R&D expenses reaching 86 million yuan, a year-on-year increase of 34.50% [5] Revenue and Profitability - The company's total revenue for 2024 was 1.127 billion yuan, with a year-on-year growth of 9.81% [2] - The net profit attributable to shareholders for 2024 was 57.3 million yuan, reflecting a significant decline of 65.48% year-on-year [2] - The gross profit margin for 2024 was 22.66%, down 6.66 percentage points year-on-year [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 year-on-year increase of 2.28%, while international revenue reached 209 million yuan, up 49.22% year-on-year, indicating successful overseas channel development [2] Cost and Expenses - The company's operating expenses increased, with the expense ratio rising to 18.06%, up 3.74 percentage points year-on-year [3] - The increase in management expenses was driven by higher employee compensation and depreciation of new R&D office buildings [3] Cash Flow and Inventory - As of the end of 2024, the company's inventory was 631 million yuan, a year-on-year increase of 27.70% [4] - The net cash flow from operating activities improved to 38 million yuan, compared to a negative 9 million yuan in 2023 [4] Research and Development - The company has maintained high R&D investment, with a total of 4470 new hard tool varieties and over 5000 varieties of CNC blades and tool bodies added in 2024 [5] - The total number of patents authorized in China reached 187, including 29 invention patents and 82 utility model patents [5] Financial Forecasts - The report forecasts a net profit of 104.82 million yuan for 2025, with a projected growth rate of 82.93% year-on-year [11] - The projected P/E ratios for the next few years are 25.83 for 2025, 18.25 for 2026, and 14.40 for 2027 [11]

Investment Rating - The report maintains a "Buy" rating for the company, anticipating a recovery in the tool industry due to national economic stimulus policies [5]. Core Insights - The company reported a revenue of 1.127 billion RMB for 2024, representing a year-on-year growth of 9.81%, while the net profit attributable to shareholders decreased by 65.48% to 57 million RMB [2]. - The hard alloy products segment showed resilience despite rising raw material costs, achieving a revenue of 501 million RMB, up 12.5% year-on-year, with a stable gross margin of 15.42% [3]. - The CNC tool business faced challenges with a revenue of 598 million RMB, a growth of 3.35%, but a significant decline in gross margin to 29.85%, down 10.57 percentage points year-on-year, attributed to increased raw material costs and a higher proportion of outsourced products [4]. - The tool industry is viewed as a priority sector for cyclical recovery, expected to benefit from improved profitability and performance growth alongside valuation recovery [4]. Summary by Sections Financial Performance - For 2024, the company achieved a revenue of 1.127 billion RMB, with a growth rate of 9.81%. The net profit was 57 million RMB, reflecting a decline of 65.48% [10]. - The projected net profits for 2025 to 2027 are 95 million RMB, 157 million RMB, and 219 million RMB, respectively, with corresponding P/E ratios of 28X, 17X, and 12X [5]. Business Segments - Hard alloy products generated 501 million RMB in revenue for 2024, with a gross margin of 15.42%, indicating a slight improvement despite raw material price increases [3]. - CNC tools generated 598 million RMB in revenue, but the gross margin fell to 29.85%, primarily due to rising material costs and increased reliance on lower-margin outsourced products [4]. Market Outlook - The report suggests that the tool industry will be a key area for cyclical recovery, benefiting from government fiscal policies aimed at stimulating the economy [4].

Group 1 - The company has announced the remuneration plan for directors, supervisors, and senior management for the year 2025, effective from January 1 to December 31, 2025 [1][5] - Independent directors will receive an annual allowance of RMB 60,000, paid quarterly [1][6] - Non-independent directors will receive remuneration based on their positions and performance evaluations, with no additional director allowance [2][3] Group 2 - The company has proposed to reappoint the accounting firm, Zhihong Certified Public Accountants, for the 2025 annual audit, with the decision pending approval at the 2024 annual shareholders' meeting [9][18] - Zhihong CPA has a workforce of nearly 6,000, including 1,359 registered accountants, and reported a revenue of RMB 2.703 billion in 2023, with RMB 2.205 billion from audit services [9][10] - The audit committee has reviewed and approved the reappointment, citing the firm's professional competence and commitment to independent auditing [16][18] Group 3 - The company has decided to cancel the unvested restricted stock from the 2022 incentive plan due to unmet performance conditions for the third vesting period, which required a 60% growth in net profit from 2021 to 2024 [26][28] - The cancellation of the restricted stock will not materially affect the company's financial status or management stability [27][28] - The decision aligns with the regulations of the stock incentive management measures and does not harm the interests of the company or its shareholders [28][29] Group 4 - The company has approved the provision for asset impairment for the year 2024, amounting to a total of RMB 17.903 million, which includes RMB 4.031 million for credit impairment losses [31][33] - The impairment provision reflects a comprehensive assessment of the company's assets to ensure accurate financial reporting [31][34] - The impairment will impact the consolidated profit before tax by RMB 21.934 million [33] Group 5 - The company has announced a change in accounting policies in accordance with the Ministry of Finance's new interpretations, effective from January 1, 2024, which will not affect previously disclosed financial statements [37][38] - The changes include adjustments related to the classification of current and non-current liabilities and the accounting treatment of certain transactions [38][40] - The company confirms that the changes comply with relevant laws and regulations and will not harm the interests of the company or its shareholders [42] Group 6 - The company has scheduled its 2024 annual shareholders' meeting for May 22, 2025, with both on-site and online voting options available [44][49] - Shareholders must register to attend the meeting, and specific procedures for voting and attendance have been outlined [56][59] - The meeting will address various proposals that have been previously approved by the board and supervisory committee [50][51]

Group 1 - The core viewpoint of the news is the disclosure of shareholding information for 欧科亿 (688308.SH) as of April 25, 2025, highlighting the involvement of institutional investors and changes in their holdings [1] - A total of 76 institutional investors hold shares in 欧科亿, with a combined holding of 53.99 million shares, representing 34.00% of the total share capital [1] - The top ten institutional investors account for 29.13% of the total shares, with a decrease of 1.24 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, four funds reported a decrease in holdings compared to the previous quarter, with a total reduction rate of 0.61% [2] - A total of 64 new public funds were disclosed during this period, including 南方科创板3年定开混合 and 华夏创新未来混合(LOF) [2] - Four public funds were not disclosed in the current period, including 易方达岁丰添利债券(LOF)A and 尚正正鑫混合发起A [2]

株洲欧科亿数控精密刀具股份有限公司 董事会审计委员会2024年度履职情况报告 株洲欧科亿数控精密刀具股份有限公司（以下简称"公司"）审计委员会根 据《上市公司治理准则》《上海证券交易所科创板股票上市规则》《公司章程》 和公司《审计委员会工作细则》的有关规定，本着勤勉尽职的原则，认真履行监 督的职责。现就2024年度的履职情况报告如下： 一、审计委员会基本情况 公司第三届董事会审计委员会成员为欧阳祖友先生、穆猛刚先生、查国兵先 生，欧阳祖友先生担任审计委员会召集人。 （一）监督及评估内部控制的有效性 报告期内，董事会审计委员会根据《企业内部控制基本规范》和上海证券交 易所《上市公司内部控制指引》等规定，结合公司实际情况，认真审阅了公司内 部控制评价报告，认为公司已建立较为规范、健全的内部控制体系，能够保证内 部控制制度的完整性、合理性及实施的有效性，能够有效防范化解经营风险，切 实保障公司及全体股东的合法权益。 （二）审阅公司财务报告 报告期内，审计委员会认真审阅公司定期报告，认为公司定期报告真实、准 确、完整，不存在虚假记载、误导性陈述和重大遗漏的情形，能公允地反映公司 的财务状况和经营成果，公司不存在重大会 ...

证券代码：688308 证券简称：欧科亿 公告编号：2025-018 株洲欧科亿数控精密刀具股份有限公司 关于 2024 年度计提资产减值准备的公告 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、准确性和完整性依法承担法律责任。 株洲欧科亿数控精密刀具股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第三届董事会第十二次会议、第三届监事会第九次会议，分别审议通过了《关 于 2024 年度计提资产减值准备的议案》。本次计提资产减值准备事项在公司董事会 权限范围内，无需提交公司股东大会审议，现将有关情况公告如下： （一）信用减值损失 公司以预期信用损失为基础，对应收票据、应收账款和其他应收款进行减值测 试并计提减值准备。经测试，2024 年度需计提信用减值损失金额共计 4,030,575.57 元。公司信用减值损失计提金额增加的原因主要为新增应收账款增加且部分原有款 项账龄变化使坏账损失的计提比例提高，从而使对应的坏账准备计提金额增大。 一、本次计提资产减值准备情况概述 根据《企业会计准则》等相关规定的要求，为真实、准确地反映公司的资产状 ...

证券代码：688308 证券简称：欧科亿 公告编号：2025-019 株洲欧科亿数控精密刀具股份有限公司 关于会计政策变更的公告 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、准确性和完整性依法承担法律责任。 （一）会计政策变更原因 2023 年 10 月 25 日，财政部发布了《企业会计准则解释第 17 号》，规定了"关 于流动负债与非流动负债的划分"、"关于供应商融资安排的披露"、"关于售后 租回交易的会计处理"的相关内容，该解释自 2024 年 1 月 1 日起施行。 2024 年 12 月 6 日，财政部发布了《企业会计准则解释第 18 号》，"不属于单 项履约义务的保证类质量保证的会计处理"的相关内容。自印发之日起施行，允许 企业自发布年度提前执行。 本次会计政策变更系根据财政部修订的相关会计准则和发布的关于企业会计准 则实施问答的要求作出的调整，无需提交公司股东大会审议。 （二）本次变更前采用的会计政策 本次会计政策变更前，公司采用财政部颁布的《企业会计准则——基本准则》 和各项具体会计准则、企业会计准则应用指南、企业会计准则解释公告以及其他 ...

证券代码：688308 证券简称：欧科亿 公告编号：2025-016 株洲欧科亿数控精密刀具股份有限公司 关于续聘会计师事务所的公告 ● 拟聘任的会计师事务所名称: 致同会计师事务所（特殊普通合伙） 一、拟聘任会计师事务所的基本情况 （一）机构信息 1、基本信息 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、准确性和完整性依法承担法律责任。 重要内容提示： 会计师事务所名称：致同会计师事务所（特殊普通合伙）（以下简称"致同所"） 成立日期：2011 年 12 月 22 日 组织形式：特殊普通合伙 注册地址：北京市朝阳区建国门外大街 22 号赛特广场 5 层 首席合伙人：李惠琦 执业证书颁发单位及序号：北京市财政局 NO0014469 截至2024年末，致同所从业人员近六千人，其中合伙人239名，注册会计师1,359 名，签署过证券服务业务审计报告的注册会计师超过 400 人。 致同所 2023 年度业务收入 27.03 亿元，其中审计业务收入 22.05 亿元，证券业 务收入 5.02 亿元。2023 年年报上市公司审计客户 257 家，主要行业包括制造 ...

株洲欧科亿数控精密刀具股份有限公司 董事会审计委员会对会计师事务所履行监督职责情况报告 株洲欧科亿数控精密刀具股份有限公司（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"致同所"）作为公司 2024 年度财务报 告和内部控制的审计机构。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》 等规定和要求，公司审计委员会对会计师事务所在 2024 年度的审计工作情况履 行了监督职责，具体情况如下： 一、聘请会计师事务所基本情况 （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）成立于 2011 年 12 月 22 日，注册地址 为北京市朝阳区建国门外大街 22 号赛特广场 5 层，首席合伙人为李惠琦，拥有 财政部颁发的会计师事务所执业证书。截至 2024 年末，致同所从业人员近六千 人，其中合伙人 239 名，注册会计师 1,359 名，签署过证券服务业务审计报告的 注册会计师超过 400 人。 致同所 2023 年度业务收入 27.03 亿元，其中审计业务收入 22.05 亿元，证 券业务收入 5.02 亿元。2 ...