Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a revenue of 6.635 billion yuan in 2024, a decrease of 11.48% year-on-year, with a net profit attributable to shareholders of 628 million yuan, down 4.76% [4][5] - The domestic market faced a decline in demand, leading to a 20.53% drop in revenue from the domestic market, while the overseas market saw a revenue increase of 20.95% [5] - The company has a strong technical advantage and has made significant R&D investments, with a new product filling a domestic gap and achieving international leading standards [6] - The company adjusted its revenue forecasts downward due to short-term domestic demand fluctuations but raised profit forecasts based on better-than-expected profit margins [7] Financial Summary - In 2024, the company achieved a gross margin of 27.63% and a net margin of 10.06%, both showing improvements year-on-year [5][10] - The projected revenues for 2025-2027 are 6.935 billion, 7.558 billion, and 8.386 billion yuan, respectively, with corresponding net profits of 662 million, 740 million, and 852 million yuan [7][10] - The diluted EPS for 2025-2027 is projected to be 0.87, 0.97, and 1.12 yuan, respectively, with current P/E ratios of 14, 12, and 11 times [7][10]

欢迎广大投资者积极参与！ 特此公告。 冰轮环境技术股份有限公司董事会 冰轮环境技术股份有限公司（以下简称"公司"）已于 2025 年 4 月 17 日在 巨潮资讯网 （https://www.cninfo.com.cn/）披露了 2024 年年度报告。为便于 广大投资者能更全面地了解公司的经营发展情况，公司将于 2025 年 4 月 28 日（星期一）15:00-16:00 在中证路演中心通过网络互动方式举办 2024 年度业 绩说明会。公司参会人员为董事长李增群先生，独立董事步延东先生，副总裁、 财务总监吴利利女士，董事会秘书孙秀欣先生。 投资者可于 2025 年 4 月 28 日（星期一）15:00-16:00 通过网址中证路演中 心（https://www.cs.com.cn/roadshow/szse/000811/pb251/）或使用微信扫描 下方小程序码在线参与本次业绩说明会，公司将以文字直播方式及时回答投资者 提问。 投资者可于 2025 年 4 月 27 日 17:00 前将相关问题通过电子邮件的形式发 送至本公司邮箱：zqb@moon-tech.com。公司将于 2024 年度业绩说明会上对 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company reported a total revenue of 6.635 billion yuan for 2024, a year-on-year decrease of 11.48%. The net profit attributable to the parent company was 628 million yuan, down 4.76% year-on-year. The net profit excluding non-recurring items was 519 million yuan, a decline of 8.21% year-on-year. However, the revenue decline narrowed in Q4 2024, and the year-end contract liabilities showed a positive growth of 1.9%, marking the first positive growth in the past six quarters, which may support revenue for 2025. The overseas revenue grew by 20.95% year-on-year, accounting for 29.8% of total revenue, indicating successful market expansion [2][6]. Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 6.635 billion yuan, with a year-on-year decline of 11.48%. The net profit attributable to the parent company was 628 million yuan, down 4.76% year-on-year. The net profit excluding non-recurring items was 519 million yuan, a decrease of 8.21% year-on-year. In Q4 2024, the revenue was 1.679 billion yuan, a year-on-year decline of 12.6%, while the net profit attributable to the parent company increased by 71.8% to 154 million yuan [2][6]. Revenue Breakdown - Domestic revenue was 4.656 billion yuan, down 20.53% year-on-year, while overseas revenue reached 1.979 billion yuan, up 20.95% year-on-year, with the overseas market share increasing by 8.0 percentage points [12]. Strategic Outlook - The company has set a strategic theme for 2025 as "Starting with the End in Mind, Standing Tall," focusing on maintaining technological leadership and achieving global breakthroughs. The goal is to ensure revenue and profit growth rates exceed national economic growth rates [12]. Profitability Metrics - The net profit margin for 2024 was 10.06%, an increase of 1.19 percentage points year-on-year. The gross margin was 27.6%, up 2.07 percentage points, primarily due to a 15.06% decrease in direct material costs. The total expense ratio was 18.2%, up 1.14 percentage points year-on-year [12]. Cash Flow and Dividends - The net cash flow from operating activities for 2024 was 721 million yuan, a year-on-year increase of 112%. The total cash dividend for the year was approximately 191 million yuan, with a dividend payout ratio of 30.39% and a dividend yield of about 2.3% [12]. Earnings Forecast - The company is expected to achieve revenues of 7.144 billion yuan, 7.832 billion yuan, and 8.618 billion yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 7.7%, 9.6%, and 10.0%. The net profit attributable to the parent company is projected to be 696 million yuan, 785 million yuan, and 879 million yuan for the same years, with corresponding growth rates of 10.8%, 12.9%, and 12.0% [12].

Core Viewpoint - Ice Wheel Environment announced a 2024 annual distribution plan proposing a 10-for-3 stock split and a cash dividend of 1.5 yuan (including tax) [2] Financial Performance - The company reported a total revenue of 6.635 billion yuan for the year, representing a year-on-year decline of 11.48% [2] - The net profit for the year was 628 million yuan, down 4.76% compared to the previous year [2] - Basic earnings per share were 0.82 yuan, with a weighted average return on equity of 10.96% [2] Market Activity - The stock experienced a net inflow of 1.3454 million yuan from main funds today, with a total net inflow of 15.3331 million yuan over the past five days [3] - The latest margin trading balance for the stock is 504 million yuan, which has decreased by 26.7559 million yuan over the past five days, reflecting a decline of 5.04% [4] Distribution Plan Overview - As of the report, 1,309 companies have announced their 2024 distribution plans, with 98 including stock splits. Among these, 50 saw their stock prices rise on the announcement day, and 46 experienced price increases over the following five days [4] - The distribution plan history for Ice Wheel Environment shows a trend of fluctuating net profits and dividend payouts over the years, with the most recent net profit being 628.09 million yuan, down 4.76% year-on-year [5]

Group 1 - The company announced a 2024 annual distribution plan, proposing a 10-for-3 stock split and a cash dividend of 1.5 yuan (including tax), with a total cash payout of 115 million yuan, accounting for 18.24% of net profit [2][3] - The company reported a revenue of 6.635 billion yuan for the year, a year-on-year decrease of 11.48%, and a net profit of 628 million yuan, down 4.76% year-on-year, with basic earnings per share of 0.82 yuan and a weighted average return on equity of 10.96% [3][4] - The stock experienced a net inflow of 1.3454 million yuan from main funds today, with a total net inflow of 15.3331 million yuan over the past five days [4] Group 2 - The latest margin financing balance for the stock is 504 million yuan, with a decrease of 26.7559 million yuan over the past five days, representing a decline of 5.04% [5] - In the mechanical equipment industry, 115 companies have announced their 2024 distribution plans, with China CNR leading with a cash payout of 6.027 billion yuan, followed by Zoomlion and Zhengzhou Coal Mining Machinery Group with payouts of 2.603 billion yuan and 1.956 billion yuan, respectively [5][6]

冰轮环境技术股份有限公司 内部控制审计报告 上会师报字(2025)第 5048 号 上会会计师事务所（特殊普通合伙） 中国 上海 ·计师事务所(特殊善通合 Centified Public Secountants (Special General Po 内部控制审计报告 上会师报字(2025)第 5048 号 冰轮环境技术股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我们 审计了冰轮环境技术股份有限公司（以下简称"贵公司"）2024年 12 月 31 日的财务 报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评 价指引》的规定,建立健全和有效实施内部控制,并评价其有效性是贵公司董事会 的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的有效性发表审 计意见,并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性,存在不能防止和发现错报的可能性。此外,由于情 况的变化可能导致内部控制变得不恰当,或对控制政策和程序遵循的 ...

关于冰轮环境技术股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审核报告 上会师报字(2025)第 5103 号 上会会计师事务所(特殊普通合伙) 中国 上海 ·计师 李务所(特殊善通合伙) Eentilied Public Accountants (Special General Pantner 冰轮环境技术股份股份有限公司 2024 年度非经营性资金占用及其他关联资金往来情况汇总表的 专项审核报告 上会师报字(2025)第 5103 号 冰轮环境技术股份有限公司全体股东: 我们接受委托,依据《中国注册会计师执业准则》审计了冰轮环境技术股份有 限公司(以下简称"贵公司")2024年度的财务报表,包括 2024 年 12 月 31 日的合并 及母公司资产负债表,2024年度的合并及母公司利润表、合并及母公司现金流量表、 合并及母公司股东权益变动表及财务报表附注,并于 2025 年 4 月 15 日出具了审计报 告（报告书编号为: 上会师报字(2025)第 5043 号)。在此基础上，我们审核了后附的 贵公司管理层编制的"冰轮环境技术股份有限公司 2024 年度非经营性资金占用及其 他关联资金 ...

冰轮环境技术股份有限公司 审计报告 上会师报字(2025)第 5043 号 上会会计师事务所（特殊普通合伙） 中国 上海 i : T 事务所(特殊善通合 ic Scoountants (St 审计报告 上会师报字(2025)第 5043 号 冰轮环境技术股份有限公司全体股东: 一、审计意见 我们审计了冰轮环境技术股份有限公司(以下简称"贵公司")财务报表,包 括 2024 年 12 月 31 日的合并及母公司资产负债表,2024 年度的合并及母公司利润表、 合并及母公司现金流量表、合并及母公司股东权益变动表以及相关财务报表附注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公 允反映了贵公司 2024年 12 月 31 日的合并及母公司财务状况以及 2024 年度的合并及 母公司经营成果和现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册 会计师对财务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照 中国注册会计师职业道德守则，我们独立于贵公司，并履行了职业道德方面的其他 责任。我们相信,我们获取的审计证据是充分、适当的, ...

（陈伟） 冰轮环境技术股份有限公司 独立董事 2024 年度述职报告 作为冰轮环境技术股份有限公司（以下简称"公司"）的独立 董事，2024年本人严格按照《公司法》、《上市公司治理准则》、 《上市公司独立董事管理办法》、《关于加强社会公众股股东权益 保护的若干规定》等法律、法规和公司章程的规定，认真履行职 责，充分发挥独立董事的独立作用，维护了公司整体利益，维护了 全体股东尤其是中小股东的合法权益。现将2024年度本人履行独立 董事职责工作情况汇报如下： 一、出席公司董事会会议情况 2024年度，公司召开六次董事会会议，本人出席公司董事会会 议六次。 本着对公司和全体股东诚信和负责的态度，本人在召开董事会 前，能够主动调查、获取做出决议所需要的情况和资料，认真审阅 公司各项议案和定期报告，为董事会的重要决策做了充分的准备工 作。会议上认真审议每个议题，积极参与讨论并提出独立意见。站 在有利于公司发展和维护全体股东利益的角度，本着客观、审慎的 原则，本人对历次董事会的各项提案均投了赞成票。 二、参与董事会专门委员会、独立董事专门会议工作情况 公司董事会下设战略委员会、薪酬与考核委员会、审计委员 会、提名委员会。 ...

冰轮环境技术股份有限公司 独立董事 2024 年度述职报告 （步延东） 作为冰轮环境技术股份有限公司（以下简称"公司"）的独立 董事，2024年本人严格按照《公司法》、《上市公司治理准则》、 《上市公司独立董事管理办法》、《关于加强社会公众股股东权益 保护的若干规定》等法律、法规和公司章程的规定，认真履行职 责，充分发挥独立董事的独立作用，维护了公司整体利益，维护了 全体股东尤其是中小股东的合法权益。现将2024年度本人履行独立 董事职责工作情况汇报如下： 一、出席公司董事会、股东会会议情况 2024年度，公司召开六次董事会会议，一次年度股东会，两次 临时股东会，本人出席公司董事会会议六次，出席股东会两次。 本着对公司和全体股东诚信和负责的态度，本人在召开董事会 前，能够主动调查、获取做出决议所需要的情况和资料，认真审阅 公司各项议案和定期报告，为董事会的重要决策做了充分的准备工 作。会议上认真审议每个议题，积极参与讨论并提出独立意见。站 在有利于公司发展和维护全体股东利益的角度，本着客观、审慎的 原则，本人对历次董事会的各项提案均投了赞成票。 二、参与董事会专门委员会、独立董事专门会议工作情况 公司董事会下 ...