Group 1: Industry Overview - The metal pressure vessel industry is experiencing intensified competition, with a trend towards high-end and international products [2] - Some companies are benefiting from high-value products and export growth, leading to significant increases in gross margins, revenue, and profits, while others face challenges due to costs and bad debt risks [2] Group 2: Company Performance - In 2024, the company achieved operating revenue of CNY 1,533.74 million, a year-on-year increase of 22.85% [3] - The net profit attributable to shareholders was CNY 255.16 million, reflecting a year-on-year growth of 54.64% [3] - The net profit after deducting non-recurring gains and losses was CNY 245.73 million, up 78.99% year-on-year [3] Group 3: Market and Product Development - The company focuses on high-end products and markets, emphasizing technological innovation and continuous R&D investment [3] - The company has a civil nuclear safety manufacturing license and has applied its nuclear-related products in several domestic and international nuclear power projects [3] - The company has established partnerships with renowned international firms in the high-tech shipbuilding sector [3] Group 4: Business Segmentation - In 2024, revenue distribution by application area was as follows: - Oil and petrochemical sector: 62.18% - Basic chemicals sector: 27.18% - Solar energy sector: 8.51% - High-tech ships and marine engineering: 1.01% - Nuclear power sector: 0.52% - Other sales: 0.61% [4] Group 5: Future Outlook - The company is actively exploring high-quality investment and acquisition opportunities that align with its strategic development goals [3] - As of the end of 2024, the company had an order backlog of CNY 1.719 billion, with a high capacity utilization rate [4]

Financial Performance - The company's operating revenue for Q1 2025 was ¥192,786,078.60, a decrease of 3.98% compared to ¥200,782,252.31 in the same period last year[5] - Net profit attributable to shareholders increased by 18.44% to ¥46,378,452.90 from ¥39,158,781.56 year-on-year[5] - Basic and diluted earnings per share rose by 16.67% to ¥0.42 from ¥0.36 in the same period last year[5] - Net profit for the current period was CNY 46,378,452.90, up from CNY 39,158,781.56, representing an increase of approximately 18.00%[20] Cash Flow - The net cash flow from operating activities improved significantly, reaching ¥12,418,061.50, compared to a negative cash flow of ¥55,113,790.76 in the previous year, marking a 122.53% increase[5] - Cash flow from operating activities generated a net cash inflow of CNY 12,418,061.50, a significant improvement from a net outflow of CNY -55,113,790.76 in the previous period[22] - Investment activities generated a net cash inflow of CNY 24,725,832.23, a turnaround from a net outflow of CNY -31,970,754.80 in the previous period[22] - The company reported a significant increase in cash inflow from sales of goods and services, totaling CNY 284,554,442.21, compared to CNY 193,659,657.94 in the previous period, an increase of about 47.00%[21] - Cash and cash equivalents at the end of the period amount to CNY 1,231,323,657.20, an increase from CNY 1,194,748,041.94 at the beginning of the period[15] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,491,084,172.79, reflecting a 1.82% increase from ¥3,428,562,165.48 at the end of the previous year[5] - Total current assets are CNY 2,757,840,720.95, up from CNY 2,685,895,870.68 at the beginning of the period[15] - Total liabilities amount to CNY 1,051,031,279.64, compared to CNY 1,040,841,513.84 in the previous period[16] - Total equity attributable to the parent company is CNY 2,440,052,893.15, an increase from CNY 2,387,720,651.64 at the beginning of the period[16] - Inventory at the end of the period is CNY 664,255,826.55, up from CNY 581,913,448.45 at the beginning of the period[15] Expenses - Sales expenses increased by 64.55% to ¥5,941,182.96, attributed to a rise in sales personnel and related compensation[9] - Total operating costs decreased from CNY 160,063,525.20 to CNY 150,065,174.13, a reduction of about 6.19%[19] - Research and development expenses were CNY 10,880,993.47, slightly up from CNY 10,383,867.65, indicating a focus on innovation[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,888[11] - The company's equity attributable to shareholders increased by 2.19% to ¥2,440,052,893.15 from ¥2,387,720,651.64[5] Other Financial Metrics - Non-recurring gains and losses totaled ¥3,108,757.75, with government subsidies contributing ¥2,004,088.91[6] - Accounts receivable financing surged by 412.95% to ¥10,333,821.26, primarily due to an increase in bank acceptance bills[9] - Accounts receivable decreased to CNY 387,321,020.29 from CNY 423,044,084.82[15] - Non-current assets total CNY 733,243,451.84, down from CNY 742,666,294.80[15] - Contract liabilities increased to CNY 633,324,047.53 from CNY 567,154,500.11[16] - The company experienced a foreign exchange gain of CNY 791,454.00, compared to a loss of CNY -339,458.35 in the previous period, indicating improved currency management[22]

锡装股份（001332）公告，2025年第一季度营业收入1.93亿元，同比下降3.98%。净利润4637.85万元， 同比增长18.44%。 ...

兴业证券股份有限公司 关于无锡化工装备股份有限公司 2024 年度保荐工作报告 | 保荐人名称：兴业证券股份有限公司 | 被保荐公司简称：锡装股份 | | --- | --- | | 保荐代表人姓名：王海桑 | 联系电话：021-38565732 | | 保荐代表人姓名：朱译 | 联系电话：021-38565732 | 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、募集资金管理制度、 内控制度、内部审计制度、关联交易制度） | 是 | | （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 | 每月 次 1 | | （2）公司募集资金项目进展是否与信息披露文件一致 | 是 | | 4．公司治理督导情况 | | | （1）列席公司股东会 ...

兴业证券股份有限公司 关于无锡化工装备股份有限公司 首次公开发行股票并上市持续督导保荐总结报告书 兴业证券股份有限公司（以下简称"兴业证券"、"保荐机构"或"本机构"） 作为无锡化工装备股份有限公司（以下简称"锡装股份"、"发行人"、"上市公司" 或"公司"）首次公开发行股票并上市项目的保荐机构，根据《证券发行上市保 荐业务管理办法》、证券交易所监管规则等相关规定及兴业证券与锡装股份签署 的《保荐协议》，兴业证券对锡装股份的持续督导时间为该上市公司上市当年及 其后 2 个完整的会计年度，锡装股份于 2022 年 9 月 20 日起在深圳证券交易所挂 牌上市，其持续督导期为 2022 年 9 月 20 日至 2024 年 12 月 31 日，现兴业证券 对锡装股份的持续督导期限已满，兴业证券根据相关法律法规，出具本保荐总结 报告书。 一、保荐机构及保荐代表人承诺 1、保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误导 性陈述或重大遗漏，保荐机构及保荐代表人对其真实性、准确性、完整性承担法 律责任。 2、本机构及本人自愿接受中国证券监督管理委员会（以下简称"中国证监 会"）对保荐总结报告书相关事项进行 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 46.00, compared to the last closing price of 35.82 [1]. Core Insights - The company's 2024 performance met expectations, with revenue of 1.534 billion, a year-on-year increase of 22.85%, and a net profit of 255 million, up 54.64% [4][5]. - The company has implemented a stock incentive plan to enhance employee motivation, granting 2.5 million restricted shares, which is 2.31% of the total share capital [6]. - The company anticipates revenue growth for 2025-2027, projecting revenues of 1.671 billion, 1.803 billion, and 1.993 billion respectively, with corresponding net profits of 271 million, 300 million, and 337 million [7]. Financial Performance - The company achieved a gross margin of 32.19% in 2024, an increase of 9.04 percentage points year-on-year, attributed to a higher proportion of high-throughput heat exchanger sales and increased export revenue [5]. - The company reported a significant increase in sales orders, totaling 1.541 billion, a year-on-year growth of 3.74%, with a backlog of 1.719 billion at the end of 2024 [5]. - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 2.47, 2.72, and 3.07 respectively, with corresponding price-to-earnings ratios of 18.62, 14.51, and 13.15 [7].

| | 和 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 601228 | 广州港 | 0.1280 | 96443.07 | -10.63 | 1407293.13 | 6.66 | | 301488 | 豪恩汽 | 1.1000 | 10091.18 | -11.15 | 140893.71 | 17.25 | | | 电 | | | | | | | 001324 | 长青科 | 0.4361 | 6018.00 | -16.41 | 46042.71 | -13.16 | | | 技 | | | | | | | 002535 | 林州重 | 0.1189 | 9534.40 | -18.47 | 168353.14 | -8.38 | | | 机 | | | | | | | 002075 | 沙钢股 | 0.0700 | 16258.29 | -27.75 | 1441626.09 | -7.69 | | | 份 | | | | | | | 002860 | 星帅尔 | 0.4700 | 14369.40 | -29.03 | 207 ...

Group 1 - The core viewpoint of the news is that Xizhuang Co., Ltd. (001332.SZ) has reported a decrease in institutional holdings and changes in public fund investments as of April 2025 [1][2][3] Group 2 - As of April 8, 2025, 48 institutional investors hold a total of 3.0934 million shares of Xizhuang Co., accounting for 2.81% of the total share capital [1] - The top ten institutional investors collectively hold 2.51% of the shares, which is a decrease of 0.46 percentage points compared to the previous quarter [1] - In the public fund sector, five funds reported a decrease in holdings, with a total reduction rate of 0.34% [2] - A total of 42 new public funds were disclosed this period, including several notable funds such as GF Baifa Big Data Growth Mixed A and Huaxia Zhisheng Value Growth Stock A [2] - UBS AG is noted as an external institution that has not disclosed holdings in the current period [3]

无锡化工装备股份有限公司 内部控制审计报告 德皓内字[2025]00000011 号 目 录 页 次 一、 内部控制审计报告 1-2 内 部 控 制 审 计 报 告 德皓内字[2025]00000011 号 北 京 德 皓 国 际 会 计 师 事 务 所 (特殊普通合伙 ) Beijing Dehao International Certified Public Accountants (Limited Liability Partnership) 无锡化工装备股份有限公司 内部控制审计报告 （截止 2024 年 12 月 31 日） 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，我们审计了无锡化工装备股份有限公司（以下简称锡装股份 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 价其有效性是企业董事会的责任。 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 ...

兴业证券股份有限公司（以下简称"兴业证券"或"保荐人"）作为无锡化 工装备股份有限公司（以下简称"锡装股份"或"公司"）首次公开发行股票并 上市持续督导阶段的保荐人，根据《证券发行上市保荐业务管理办法》《上市公 司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》《深圳证券交 易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上 市公司规范运作》《深圳证券交易所上市公司自律监管指引第 13 号——保荐业 务》等相关法律法规和规范性文件的规定，对锡装股份 2024 年度募集资金存放 与使用情况进行了审慎核查，具体核查情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准无锡化工装备股份有限公司首次公开 发行股票的批复》（证监许可〔2022〕1976 号）核准，并经深圳证券交易所《关 于无锡化工装备股份有限公司人民币普通股股票上市的通知》（深证上〔2022〕 926 号）同意，公司向社会公众首次公开发行人民币普通股（A 股）2,000 万股， 每股面值为 1 元，每股发行价格为 59.90 元，募集资金总额为人民币 1,198,000,000.00 元，扣除发行费用（ ...