国投证券股份有限公司 关于芜湖三联锻造股份有限公司 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2.督导公司建立健全并有效执行规章制度的 | | | 情况 | | | （1）是否督导公司建立健全规章制度（包括 但不限于防止关联方占用公司资源的制度、 | | | | 是 | | 募集资金管理制度、内控制度、内部审计制 | | | 度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 次 2 | | （2）公司募集资金项目进展是否与信息披 | 是 | | 露文件一致 | | | 4.公司治理督导情况 | | | 1 | 次（于 2024 年 6 月 6 日列席公司 2023 年年度股 | | （1）列席公司股东大会次数 | 东大会） | | （2）列席公司董事会次数 | 0 次，均事前或事后审阅会议文件 | | 5.现场检查情况 | | ...

Industry Overview - The automotive industry in China is expected to maintain a stable and positive development trend in 2025, driven by proactive macro policies and the implementation of new policies aimed at stimulating market vitality [2] - In 2024, the automotive production and sales volume reached 31.282 million and 31.436 million units, representing year-on-year growth of 3.7% and 4.5% respectively, indicating strong resilience and innovation within the industry [2] Company Performance - In 2024, the company achieved operating revenue of 1.562 billion yuan, a year-on-year increase of 26.44%, and a net profit attributable to shareholders of 146.3 million yuan, up 16.64% year-on-year [4] - For Q1 2025, the company reported a main revenue of 390 million yuan, a year-on-year increase of 13.98%, and a net profit attributable to shareholders of 29.98 million yuan, up 2.53% year-on-year [4] Competitive Position - The company competes with both domestic and international firms, with a diverse product line that covers most safety forgings in the automotive sector, allowing it to meet various customer needs [3] - The company has established long-term stable partnerships with top global parts suppliers, which is expected to facilitate entry into new customer supply chains [3] Future Growth Prospects - The company anticipates stable revenue growth in 2025, supported by ongoing projects and customer development efforts [4] - The focus on developing products for new energy vehicles aligns with market trends and customer demands, providing additional growth opportunities [3]

Group 1: Industry Overview - In 2024, China's automotive industry is expected to achieve high-quality development, supported by effective macro policies and industry innovation [3] - The total production and sales volume for 2024 reached 31.282 million and 31.436 million vehicles, representing year-on-year growth of 3.7% and 4.5% respectively [3] Group 2: Company Performance - The company achieved an operating revenue of 1,562.32 million yuan in 2024, a year-on-year increase of 26.44% [4] - The net profit attributable to shareholders was 146.30 million yuan, up 16.64% from the previous year [4] - The net profit after deducting non-recurring gains and losses was 139.63 million yuan, reflecting a growth of 24.80% year-on-year [4] Group 3: Competitive Position - The company competes with both domestic and international suppliers, with a diverse product line that includes most automotive safety forgings [3] - The company maintains long-term stable partnerships with top global parts suppliers, which aids in entering new customer supply chains [4] Group 4: Future Growth Prospects - The company is actively developing products for new energy vehicles to meet customer demands [4] - Revenue is expected to maintain stable growth in 2025, supported by ongoing projects and customer development [4]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company is expected to continue its development with a good order backlog and new products contributing to revenue growth, particularly in the context of the growing electric vehicle (EV) market [2][5] - The company has established projects with major automotive manufacturers such as Daimler, BMW, Volkswagen, Tesla, BYD, General Motors, Audi, Ford, NIO, Li Auto, Xpeng, SAIC, Great Wall, Chery, and Geely for the development of EV components [2][5] - The company reported a revenue of 1.562 billion yuan in 2024, a year-on-year increase of 26.44%, and a net profit of 146 million yuan, up 16.64% year-on-year [4][7] Financial Performance - In Q1 2025, the company achieved a revenue of 390 million yuan, representing a year-on-year growth of 13.98%, and a net profit of 30 million yuan, up 2.53% year-on-year [4][7] - The company's revenue growth in 2024 was primarily driven by the demand for axle and steering knuckle products, with significant revenue growth rates of 62.46% and 55.06% respectively [4][7] - The gross margin for 2024 was 20.02%, down 1.24 percentage points from 2023, mainly due to a 43.08% increase in raw material costs [4][7] Future Outlook - The company is expanding its product applications into new areas such as robotics and aerospace, establishing a new subsidiary to enhance its R&D capabilities in these fields [6][7] - The company is expected to maintain a steady growth trajectory, with projected revenues of 1.939 billion yuan, 2.456 billion yuan, and 2.925 billion yuan for 2025, 2026, and 2027 respectively, reflecting year-on-year growth rates of 24.1%, 26.7%, and 19.1% [8][9] - The earnings per share (EPS) are projected to be 1.16 yuan, 1.54 yuan, and 1.87 yuan for 2025, 2026, and 2027 respectively, with corresponding price-to-earnings (P/E) ratios of 21.5x, 16.2x, and 13.3x [8][9]

Core Viewpoint - The company has disclosed its first quarter report for 2025, ensuring the accuracy and completeness of the financial information, and has announced a provision for asset impairment totaling 7.0171 million yuan, reflecting its financial status as of March 31, 2025 [3][15][34]. Financial Data Summary - The company will distribute cash dividends of 3.33 yuan per 10 shares, totaling 37.74888 million yuan, and will increase its total share capital by 4 shares for every 10 shares held, resulting in a new total of 158.704 million shares [3]. - The company has made adjustments to its financial statements due to the new accounting standards, impacting the operating costs and sales expenses by 264,971.43 yuan [6]. - The total amount of impairment provisions for the first quarter of 2025 is 7.0171 million yuan, which includes 1.1259 million yuan for credit impairment losses and 5.8912 million yuan for inventory impairment losses [16][34]. Shareholder Information - The company has confirmed that there are no changes in the major shareholders or the number of shareholders holding more than 5% of the shares [7]. Meeting Resolutions - The third board meeting and the fourth supervisory meeting of the company were held on April 28, 2025, where the first quarter report and the asset impairment provision were approved unanimously [10][51]. - The board and supervisory committee have confirmed that the impairment provision is in compliance with accounting standards and accurately reflects the company's financial condition [40][38]. Investor Communication - The company will hold an online performance briefing on May 9, 2025, to enhance communication with investors and address their concerns [42][45].

证券代码：001282 证券简称：三联锻造 公告编号：2025-026 芜湖三联锻造股份有限公司 关于 2025 年一季度计提减值准备的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 芜湖三联锻造股份有限公司（以下简称"公司"或"本公司"）于 2025 年 4 月 28 日召开第三届董事会第四次会议和第三届监事会第四次会议，审议通过了《关 于 2025 年一季度计提减值准备的议案》。根据《深圳证券交易所股票上市规则》 等相关规定，现将公司本次计提减值准备的具体情况公告如下： 一、本次计提减值准备情况概述 1、本次计提减值准备的原因 为真实反映公司财务状况及经营成果，向投资者提供更加真实、可靠、准确 的会计信息，根据《企业会计准则》《深圳证券交易所股票上市规则》等有关规 定，基于谨慎性原则，公司对截至 2025 年 3 月 31 日的公司及合并财务报表范围 内的下属公司应收票据、应收账款、其他应收款、存货等相关资产进行了全面清 查，对相关资产价值出现的减值迹象进行了充分地分析和评估。经减值测试，公 司对存在减值迹象的相关资产计提相应的减值准备。 2、本次计 ...

证券代码：001282 证券简称：三联锻造 公告编号：2025-030 芜湖三联锻造股份有限公司 关于举行2024年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 芜湖三联锻造股份有限公司（以下简称"公司"或"本公司"）于2025年4月25 日披露了《2024年年度报告》《2024年年度报告摘要》。为了便于广大投资者更 深入地了解公司情况，进一步加强公司与投资者的互动交流，公司定于2025年5月 9日（星期五）15:00-16:30举办2024年度业绩说明会。具体安排如下： 一、业绩说明会相关安排 1、时间：2025年5月9日（星期五）下午15:00-16:30。 2、召开方式：本次业绩说明会将采用网络远程方式召开。 3 、 参 与 方 式 ： 投 资 者 可 登 录 深 圳 证 券 交 易 所 " 互动易 " 平 台 （http://irm.cninfo.com.cn），进入"云访谈"栏目即可参与交流。 4、公司出席人员：公司董事长兼总经理孙国奉先生，财务总监兼董事会秘书 杨成先生，独立董事谭青女士、李明发先生、张金先生，保荐代表人李 ...

证券代码：001282 证券简称：三联锻造 公告编号：2025-029 芜湖三联锻造股份有限公司 第三届监事会第四次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 具 体 内 容 详 见 公 司 同 日 于 指 定 信 息 披 露 媒 体 和 巨 潮 资 讯 网 （http://www.cninfo.com.cn）披露的《2025 年第一季度报告》。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 （二）审议通过了《关于 2025 年一季度计提减值准备的议案》 公司本次计提减值准备符合《企业会计准则》等相关规定，符合公司的实际 情况，计提后更能公允地反映公司截至 2025 年 3 月 31 日的财务状况以及 2025 年 1-3 月的经营成果，不存在损害公司及全体股东特别是中小股东利益的情形。 本次计提减值准备的决策程序合法。 具 体 内 容 详 见 公 司 同 日 于 指 定 信 息 披 露 媒 体 和 巨 潮 资 讯 网 （http://www.cninfo.com.cn）披露的《关于 2025 年一季度计提减值 ...

（一）审议通过了《关于<2025 年第一季度报告>的议案》 公司《2025 年第一季度报告》的内容符合法律、行政法规、中国证券监督 管理委员会和深圳证券交易所的相关规定，报告内容真实、准确、完整，不存在 虚假记载、误导性陈述或者重大遗漏。《2025 年第一季度报告》编制期间，未 有泄密及其他违反法律法规、《公司章程》或损害公司利益的行为发生。 本议案经公司董事会审计委员会审议通过。具体内容详见公司同日于指定信 息披露媒体和巨潮资讯网（http://www.cninfo.com.cn）披露的《2025 年第一季度 报告》。 证券代码：001282 证券简称：三联锻造 公告编号：2025-028 芜湖三联锻造股份有限公司 第三届董事会第四次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 芜湖三联锻造股份有限公司（以下简称"公司"）第三届董事会第四次会议通 知已于 2025 年 4 月 22 日以邮件方式送达全体董事，会议于 2025 年 4 月 28 日以 现场结合通讯表决方式在公司会议室召开。本次会议由公司董事长孙国奉先生召 ...

Financial Performance - The company reported a basic earnings per share of 0.1900 yuan for Q1 2025, representing a 5.56% increase compared to 0.1800 yuan in Q1 2024, but a decrease from 0.2200 yuan in Q1 2023 [1] - The total revenue for Q1 2025 was 3.9 billion yuan, up 14.04% from 3.42 billion yuan in Q1 2024, and significantly higher than 2.43 billion yuan in Q1 2023 [1] - The net profit for Q1 2025 was 0.3 billion yuan, a 3.45% increase from 0.29 billion yuan in Q1 2024, and an increase from 0.19 billion yuan in Q1 2023 [1] - The return on equity (ROE) for Q1 2025 was 1.93%, slightly down from 2.00% in Q1 2024 and significantly lower than 2.93% in Q1 2023 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 20.938 million shares, accounting for 37.51% of the circulating shares, with an increase of 1.2019 million shares compared to the previous period [1] - The largest shareholder is Anhui Tonghua High-tech Center (Limited Partnership), holding 16.1 million shares, which is 28.84% of the total share capital, remaining unchanged [2] - New entrants among the top shareholders include Song Wenguang with 1.314 million shares (2.35%), Morgan Stanley & Co. International PLC with 0.6015 million shares (1.08%), and several others [2] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [3]