Financial Performance - The company's operating revenue for Q1 2025 was ¥1,372,925,379.61, a decrease of 16.05% compared to ¥1,635,333,353.78 in the same period last year[5] - Net profit attributable to shareholders was ¥93,725,984.08, down 22.45% from ¥122,486,303.04 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥82,935,358.85, a decrease of 12.12% compared to ¥94,372,428.75 in the previous year[5] - The basic and diluted earnings per share were both ¥0.12, representing a decline of 25.00% from ¥0.16 in the same period last year[5] - The weighted average return on equity decreased by 0.66 percentage points to 1.60% from 2.22% year-on-year[5] - Net profit for the current period is CNY 105,406,816.81, a decrease of 16.1% compared to CNY 125,666,801.60 in the previous period[20] - Operating profit for the current period is CNY 122,832,142.91, down 17.2% from CNY 148,395,329.76 in the previous period[20] - Total comprehensive income for the current period is CNY 88,384,795.05, a decrease from CNY 175,378,139.24 in the previous period[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,404,787,890.11, down 3.88% from ¥11,865,695,815.86 at the end of the previous year[5] - Current assets totaled RMB 7,534,301,324.41, down from RMB 7,941,776,920.55 at the beginning of the period, reflecting a decrease of 5.14%[16] - Non-current assets amounted to RMB 3,870,486,565.70, a decrease of 1.36% from RMB 3,923,918,895.31 at the beginning of the period[16] - Total liabilities were RMB 5,090,892,660.33, down from RMB 5,655,853,500.14, indicating a decrease of 10.00%[17] - Total equity increased to RMB 6,313,895,229.78 from RMB 6,209,842,315.72, reflecting an increase of 1.68%[17] Cash Flow - The net cash flow from operating activities was -¥376,254,333.55, showing a slight improvement of 1.20% compared to -¥376,655,161.39 in the previous year[5] - Cash flow from operating activities shows a net outflow of CNY 376,254,333.55, compared to a net outflow of CNY 380,807,348.91 in the previous period[21] - Cash flow from investing activities has a net inflow of CNY 206,881,484.12, a significant improvement from a net outflow of CNY 204,534,272.01 in the previous period[22] - Cash flow from financing activities resulted in a net outflow of CNY 45,033,651.76, contrasting with a net inflow of CNY 96,757,934.92 in the previous period[22] Shareholder Information - The company reported a total of 35,703 common shareholders at the end of the reporting period[12] - The equity attributable to shareholders increased by 1.58% to ¥5,903,538,332.32 from ¥5,811,898,795.23 at the end of the previous year[5] Operating Costs - Total operating costs amounted to RMB 1,285,951,901.23, down 16.43% from RMB 1,538,514,364.05 in the previous period[19] - Operating costs included RMB 1,029,278,816.83 in operating expenses, a decrease of 17.55% from RMB 1,248,494,260.15 in the previous period[19] Other Financial Metrics - Cash and cash equivalents at the end of the period were RMB 2,131,836,359.45, down from RMB 2,358,686,568.43, a decrease of 9.59%[15] - Accounts receivable decreased to RMB 1,696,487,789.45 from RMB 1,929,435,357.23, a decline of 12.06%[15] - The cash and cash equivalents at the end of the period amount to CNY 2,099,545,306.95, compared to CNY 1,755,587,423.60 at the end of the previous period[22] - Other comprehensive income after tax shows a loss of CNY 17,022,021.76, compared to a gain of CNY 49,711,337.64 in the previous period[20]

Group 1: Company Overview and Performance - Ice Wheel Environment has achieved a revenue of 6.635 billion CNY in 2024, marking the second highest profit since its establishment, with a net profit of 628 million CNY [6] - The company experienced a revenue increase from 4 billion CNY in 2020 to 7.5 billion CNY in 2023 [6] - The overall industry performance in 2024 was subdued due to a slowdown in downstream demand, but Ice Wheel Environment maintained a relatively strong operational status compared to peers [3][4] Group 2: Strategic Goals and Future Outlook - For 2025, the company aims for a strategic theme of "starting with the end in mind and aiming high," focusing on world-class standards and maintaining technological leadership [5] - The operational strategy for 2025 includes "two increases, one decrease, and three improvements": increasing revenue and profit growth rates above national economic growth, reducing cost rates, and enhancing R&D investment and operational quality [5][6] - The company plans to target new business growth opportunities in overseas data center cooling markets and energy management [4] Group 3: Shareholder Engagement and Corporate Governance - The company emphasizes the importance of shareholder engagement and transparency, with independent directors committed to fulfilling their responsibilities and obligations [3] - The management team is focused on enhancing investor confidence through interactive communication and effective market value management [3][4] - The major shareholder's buyback process is ongoing, with no new notifications received [4]

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 ...

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, ...

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 ...