浙江盾安人工环境股份有限公司 关于对独立董事 2024 年度独立性评估的专项意见 根据《上市公司独立董事管理办法》《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》等要求， 浙江盾安人工环境股份有限公司（以下简称"公司"）董事会就公司在任独立董 事宋顺林先生、刘金平先生、李静先生的独立性情况进行评估并出具如下专项意 见： 经核查独立董事宋顺林先生、刘金平先生、李静先生的任职经历以及签署的 相关自查文件，上述人员未在公司担任除独立董事以外的任何职务，也未在公司 主要股东公司担任任何职务，与公司以及主要股东之间不存在利害关系或其他可 能妨碍其进行独立客观判断的关系，不存在影响独立董事独立性的情况，符合《上 市公司独立董事管理办法》《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》中对独立董事独立性的相关要求。 浙江盾安人工环境股份有限公司董事会 二〇二五年四月十八日 1 ...

Financial Performance - The company's operating revenue for 2024 reached ¥12,678,362,326.85, an increase of 11.39% compared to ¥11,382,447,888.57 in 2023[18] - Net profit attributable to shareholders for 2024 was ¥1,044,887,309.77, representing a significant growth of 41.58% from ¥738,038,646.84 in 2023[18] - The net profit after deducting non-recurring gains and losses was ¥928,823,989.76, up 13.16% from ¥820,828,604.82 in the previous year[18] - The basic earnings per share for 2024 increased to ¥0.99, a rise of 41.43% compared to ¥0.70 in 2023[18] - Total assets at the end of 2024 amounted to ¥12,153,293,741.25, reflecting a 12.71% increase from ¥10,782,979,700.54 at the end of 2023[18] - The company's net assets attributable to shareholders grew by 24.72% to ¥5,509,483,365.80 from ¥4,417,310,362.48 in 2023[18] - Cash flow from operating activities for 2024 was ¥1,160,586,046.42, marking a 42.96% increase from ¥811,800,624.99 in 2023[18] Business Operations - The company has not reported any changes in its main business since its listing[17] - The company reported a government subsidy of approximately $44.48 million in 2024, compared to $43.46 million in 2023, indicating a slight increase[24] - The impairment loss from the disposal of non-current assets was approximately $7.80 million in 2024, a significant improvement from $20.13 million in 2023[24] - The company achieved a net income of approximately $116.06 million in 2024, a recovery from a loss of $82.79 million in 2023[25] - The automotive thermal management business saw a remarkable growth of 71.66%, with revenue of 811.65 million yuan[39] - The revenue from the general equipment manufacturing sector was 11.92 billion yuan, accounting for 94.01% of total revenue, with a year-on-year increase of 12.71%[39] Market and Industry Trends - In 2024, the total production of household air conditioners in China reached 20.1579 million units, a year-on-year increase of 19.50%, while total sales were 20.0853 million units, up 17.80%[28] - The sales volume of new energy vehicles in China reached 1.7181 million units in 2024, reflecting a year-on-year growth of 22.22%[31] - The company plans to increase R&D investment to develop efficient, intelligent, and environmentally friendly products in response to the "old-for-new" policy, which is expected to boost the refrigeration parts industry[29] Research and Development - The company applied for a total of 4,143 domestic patents, including 1,231 invention patents, as of December 31, 2024[34] - Research and development expenses increased by 15.88% year-on-year, amounting to approximately 502.59 million yuan, primarily due to increased personnel and direct investment in R&D[57] - The number of R&D personnel rose by 20.61% to 1,498, with the proportion of personnel holding a master's degree or higher increasing by 26.32%[56] Corporate Governance - The company held four shareholder meetings during the reporting period, ensuring compliance with legal requirements and maintaining equal rights for all shareholders[87] - The board of directors consists of 9 members, including 3 independent directors, representing one-third of the total board[88] - The company maintains complete independence in business operations, personnel, assets, institutions, and finance from the controlling shareholder[91] - The company has established a complete governance structure, with the board of directors, supervisory board, and other internal institutions operating independently[92] Environmental Compliance - The company has implemented strict environmental protection measures in compliance with relevant laws and regulations, including the Environmental Protection Law and the Air Pollution Prevention Law[146] - The company has obtained pollution discharge permits for its subsidiaries, ensuring compliance with environmental standards[147] - The total wastewater discharge from Zhejiang Shield An Hedian Metal Co., Ltd. was 161,076.25 tons per year, which is below the permitted limit of 162,200 tons per year[149] - The company invested over 6 million RMB in wastewater treatment systems, improving wastewater treatment capacity and quality[152] Employee Relations - The total number of employees at the end of the reporting period is 13,921, with 188 in the parent company and 13,733 in major subsidiaries[128] - The company has a competitive salary policy, ensuring that employee compensation is at a leading level within the region and industry[130] - The training program includes a three-tier talent cultivation system aimed at developing potential employees from recent graduates to middle management[131] Strategic Initiatives - The company is actively expanding into emerging industries such as electronic purification and high-end precision manufacturing, aiming to provide customized solutions[30] - The company plans to enhance R&D investment and increase the proportion of R&D spending to drive significant growth in new product revenue[80] - The company is exploring partnerships with tech firms to integrate smart technology into its product lines, aiming for a launch in Q4[115]

盾安环境（002011）公告，2024年营业收入126.78亿元，同比增长11.39%。归属于上市公司股东的净利 润10.45亿元，同比增长41.58%。基本每股收益0.99元/股，同比增长41.43%。公司计划不派发现金红 利，不送红股，不以公积金转增股本。 ...

Group 1 - Zhejiang Shun'an Artificial Environment Co., Ltd. has obtained a patent for "coil components and electric valves," with the patent announcement number CN 222717583 U, applied on July 2024 [1] - The patent describes a coil component that includes a stator assembly with an inner hole for the valve body, a wire structure connected to multiple pins, and a fixed structure that encapsulates part of the wire structure, optimizing the installation process by reducing the bending angle of the wire [1] - The design aims to minimize the risk of wire damage due to large-angle bends by ensuring the angle θ between the inner hole's axis and the wire structure is between 0° and 270° [1] Group 2 - Zhejiang Shun'an Artificial Environment Co., Ltd. was established in 2001 and is located in Shaoxing City, primarily engaged in general equipment manufacturing [2] - The company has a registered capital of 1,065.44 million RMB and a paid-in capital of 917.21 million RMB [2] - The company has invested in 24 enterprises, participated in 439 bidding projects, and holds 966 patents along with 61 trademark registrations [2]

政策红利释放新能源车高景气，营收状况有望向好 根据中国汽车工业协会数据，2024 年1-11 月，新能源汽车产销分别完成1134.5 万辆和1126.2 万辆， 同 比增长34.6%、35.6%。行业高景气度驱动下，盾安环境新能源汽车热管理业务于2024 年9 月实现单月 发货金额首次突破亿元，并在第四季度达到全年营收峰值。新能源汽车热管理业务放量节奏与下游整车 产销周期形成强联动，印证公司产品在主流车企供应链中的渗透率提升，当前政策端延续购置税减免及 产业扶持导向，有望进一步强化公司热管理业务与新能源汽车产业增长的共振。 收缩与扩张并举，强化核心竞争力 盾安环境近年来持续收缩非核心业务，明确将资源集中于3+1 业务（制冷配件、制冷设备、换热器、新 能源汽车热管理）。节能业务虽曾贡献稳定现金流，但受地方财政压力及工业节能补贴退坡影响，应收 帐款数额持续增长，占用资金，增加财务费用。毛利率从2019 年的19.37%下滑至2020年的 -55.77%，与 制冷配件、制冷设备的毛利率（17.23%、23.97%）差距拉大，拖累总体毛利率水平。盾安环境出售节 能业务项下子公司股权，有助于提升公司的整体盈利水平并降低 ...

Investment Rating - The report assigns a "Buy" investment rating for the company, marking its first coverage [2][8]. Core Insights - The company is experiencing significant growth in its new energy vehicle thermal management orders, driven by favorable policies and strategic initiatives [3][5]. - The company has focused on consolidating its core business areas, particularly in refrigeration components, refrigeration equipment, heat exchangers, and new energy vehicle thermal management [4]. - The company has achieved a substantial order backlog of 13 billion yuan in its automotive thermal management business, with a market share approaching 50% in domestic new energy vehicles [5]. Summary by Sections Market Performance - The company’s stock price is currently at 12.37 yuan, with a total market capitalization of 13.2 billion yuan and a 52-week price range of 9.61 to 13.5 yuan [2]. Revenue and Profit Forecast - Revenue projections for the company are 12.712 billion yuan in 2024, 14.214 billion yuan in 2025, and 15.816 billion yuan in 2026, with corresponding EPS of 0.84, 1.00, and 1.15 yuan [8][10]. - The company is expected to see a revenue growth rate of 11.7% in 2024, 11.8% in 2025, and 11.3% in 2026 [10]. Business Strategy - The company has divested from non-core businesses to focus on its 3+1 business model, enhancing its core competitiveness [4]. - The acquisition of Shanghai Dacreat, which specializes in automotive OBD intelligent control products and new energy vehicle thermal management products, is expected to enrich the company's product matrix and enhance its R&D capabilities [4]. Order and Market Share - As of October 26, 2024, the company has secured 13 billion yuan in orders for its automotive thermal management business, with major clients including BYD, Geely, and Li Auto [5]. - The gross margin for this business segment has improved to 21.10% in the first half of 2024, indicating a positive trend in profitability [5].

证券代码：002011 证券简称：盾安环境 公告编号：2025-008 浙江盾安人工环境股份有限公司 关于聘任公司董事会秘书、副总裁的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 浙江盾安人工环境股份有限公司（以下简称"公司"）于 2025 年 3 月 26 日 召开第八届董事会第十八次会议，审议通过了《关于聘任公司董事会秘书的议案》 《关于聘任公司副总裁的议案》。 通讯地址：浙江省杭州市滨江区泰安路 239 号盾安发展大厦 20 楼 经公司董事长提名，董事会提名委员会任职资格审查，董事会同意聘任吴青 青女士为公司董事会秘书（简历附后），任期自本次董事会通过之日起至第八届 董事会任期届满之日止。公司董事、总裁李建军先生不再代行董事会秘书职责。 经公司总裁提名，董事会提名委员会任职资格审查，董事会同意聘任楼家杨 先生为公司副总裁（简历附后），任期自本次董事会通过之日起至第八届董事会 任期届满之日止。 吴青青女士、楼家杨先生的任职资格符合《中华人民共和国公司法》《深圳 证券交易所股票上市规则》等有关规定。 吴青青女士联系方式如下： 电话：（0571）871 ...

浙江盾安人工环境股份有限公司 第八届董事会第十八次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、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 证券代码：002011 证券简称：盾安环境 公告编号：2025-009 1、董事会会议通知的时间和方式 浙江盾安人工环境股份有限公司（以下简称"公司"）第八届董事会第十八次 会议通知于 2025 年 3 月 22 日以电子邮件方式送达各位董事。 2、召开董事会会议的时间、地点和方式 会议于 2025 年 3 月 26 日以现场加通讯表决方式召开。 3、董事会会议出席情况 本次会议应表决董事 9 名，实际参加表决董事 9 名，发出表决单 9 份，收到有 效表决单 9 份。高级管理人员和监事列席本次会议。 4、董事会会议主持人 会议由董事长方祥建先生主持。 5、本次董事会会议的合法、合规性 会议召集、召开符合《中华人民共和国公司法》等有关法律、法规和《浙江盾 安人工环境股份有限公司章程》的有关规定。 二、董事会会议审议情况 （二）审议通过《关于聘任公司副总裁的议案》。 具体内容详见公司同日刊登于《证券时报》《证券日报》和巨潮资讯网 ...

证券研究报告公司动态报告 制冷、汽零增量涌现，重视低估值下的投资机会 分析师：马王杰 mawangjie@csc.com.cn SAC 编号：S1440521070002 分析师：翟延杰 zhaiyanjie@csc.com.cn SAC编号： S1440521080002 发布日期：2025年2月23日 核心观点与投资建议 核心观点 Æ ‰ ƒ ,&ii-4 ¿ - =E¹Q , º ËCz -r ¼″J Ç"³M, 8 ρ - Ä æ73$Æ$MFE)½ }6B5* 7Q FU FKµ | B ,EceE³ æ1ç D °P , $MFE ? Q 6 eL6 , 1b FKµ4Ý > -4 ¿F ª$6K Ý ÷ D Ø m 8 p ㅤ ¸ >, P 3NÓ 75# } >+k †7Þ6öL6= |+^ D 0 -" } < \ Þ ¢ .þ _73 N0i!› @ >, ¸ Β ，r § FF!؛#¾ L ËCz OAäÆ G "NºA24-26年公司分别实现营业收入129、147、165亿元，同比分别增长13%、14%、12%；分别实现 归属母公司净利润9、11、12 亿元，同比分别增长24%、17% ...

证券代码：002011 证券简称：盾安环境 公告编号：2025-007 浙江盾安人工环境股份有限公司 2025年第一次临时股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： ②网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 2 月 25 日上午 9:15 -9:25，9:30-11:30，下午 13:00-15:00；通过深圳证券 交易所互联网投票的具体时间为 2025 年 2 月 25 日 9:15-15:00。 （2）现场会议召开地点：浙江省诸暨市店口镇解放路 288 号公司会议室 （3）会议召开方式：本次股东大会采取现场投票和网络投票相结合的方式。 （4）会议召集人：公司董事会 （5）现场会议主持人：董事长方祥建先生 1、本次股东大会没有出现否决提案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、会议召开 （1）时间 ①现场会议召开时间为：2025 年 2 月 25 日（星期二）15:00。 3、公司董事、监事和董事会秘书出席了本次会议，高级管理人员及见 ...