证券日报网讯大连重工（002204）11月27日在互动平台回答投资者提问时表示，作为国家重机行业的大 型重点骨干企业，公司主要从事物料搬运设备、冶金设备、新能源设备、传动与控制系统、船用设备 (主要为大型船用曲轴)等领域的大型成套设备及核心零部件的开发、研制和销售，为冶金、港口、能 源、矿山、工程、交通、造船、环保等国民经济基础产业提供大型高端装备和全生命周期智能服务解决 方案。 ...

编号：2025-006 | | ■特定对象调研 | □分析师会议 | | --- | --- | --- | | 投资者关系活动 | □媒体采访 | 业绩说明会 | | | □新闻发布会 | □路演活动 | | 类别 | □现场参观 | | | | □其他（请文字说明其他活动内容） | | | | 中信证券股份有限公司：刘海博、闵睿 | | | 参与单位名称及 | 鹏华基金管理有限公司：柳黎 | | | 人员姓名 | 天弘基金管理有限公司：李昕岩 | | | | 中意资产管理有限责任公司：陈东飞 | | | 时间 2025 | 年 11 月 25 | 日（星期二）13:30 | | 地点 | 大连重工中革基地综合楼 | 324 会议室 | | | 董事、高级副总裁、首席财务官、董事会秘书陆朝昌 财务管理本部总经理牛经纬、总账会计郑芷辛 | | | | 战略发展本部副总经理李楠 | | | 上市公司 | | | | 接待人员 | 营销管理本部客户服务中心主任李野 | | | | 大连华锐国际工程有限公司总会计师刘梅 | | | | 大连大重齿轮传动机械有限公司总经理助理赵大奇 | | | | 董事会办公室证券 ...

证券日报网讯大连重工（002204）11月21日在互动平台回答投资者提问时表示，截至2025年11月20日收 市后，公司合并普通账户和融资融券信用账户的持有人数为77119户。 ...

Core Insights - Dalian Heavy Industry aims to become a world-class heavy machinery enterprise by enhancing scale, efficiency, and core competitiveness during the 14th Five-Year Plan period [1][2] Financial Performance - Revenue is projected to increase from 9.1 billion to 14.28 billion yuan from 2021 to 2024, with a compound annual growth rate (CAGR) of 16% [1] - Net profit attributable to shareholders is expected to rise from 115 million to 498 million yuan, achieving a CAGR of 63% [1] Strategic Focus - The company is concentrating on the wind power sector and large-scale trends, investing over 3 billion yuan in three intelligent manufacturing projects [1] - Dalian Heavy Industry is restructuring its strategic management system to promote a digital transformation across all processes [1] International and Intelligent Orders - International orders are projected to reach 680 million USD in 2024, a year-on-year increase of 35% [1] - Intelligent orders are expected to reach 1.21 billion yuan, reflecting a year-on-year growth of 33.8% [1] - Orders in green technology, high-end products, and services are projected to achieve double-digit growth, with respective values of 7.65 billion, 3.01 billion, and 6.09 billion yuan [1] Recognition and Future Goals - Dalian Heavy Industry has been recognized as a leading enterprise by the State-owned Assets Supervision and Administration Commission and has received multiple awards for quality and investor returns [2] - The company aims to continue focusing on its core responsibilities and achieve world-class standards in ten key areas, including high-end intelligence and green technology during the 15th Five-Year Plan [2]

Core Insights - During the "14th Five-Year Plan" period, Dalian Heavy Industry focused on the wind power sector and large-scale trends, investing over 3 billion yuan to develop three intelligent manufacturing projects, enhancing its core component production capacity and high-end supply capabilities, achieving a leap from "manufacturing" to "intelligent manufacturing" [1] - The company restructured its strategic management system, coupling value creation with a "five modernization strategy" to promote a comprehensive digital transformation [1] - In 2024, international orders reached 680 million USD, a year-on-year increase of 35%; intelligent orders amounted to 1.21 billion yuan, up 33.8%; green, high-end, and service-oriented orders were 7.65 billion yuan, 3.01 billion yuan, and 6.09 billion yuan respectively, all achieving double-digit growth [1] - Dalian Heavy Industry has been recognized as a "world-class leading demonstration enterprise" by the State-owned Assets Supervision and Administration Commission and has received multiple awards for quality and investor returns [1] - Looking ahead to the "15th Five-Year Plan," the company aims to focus on its core responsibilities, targeting the creation of a globally leading heavy industry group with a commitment to high-quality development [1] Financial Performance - Dalian Heavy Industry, as a key enterprise in heavy machinery and new energy equipment manufacturing, has set a vision to create an internationally leading heavy industry group, achieving significant improvements in scale, efficiency, and core competitiveness [2] - From 2021 to 2024, the company's operating revenue increased from 9.1 billion yuan to 14.28 billion yuan, while net profit attributable to shareholders rose from 115 million yuan to 498 million yuan, with compound annual growth rates of 16% and 63% respectively, significantly outperforming the industry average [2]

Core Insights - The report from Zhongyou Securities indicates that Dalian Heavy Industry achieved a net profit attributable to shareholders of 490 million yuan in the first three quarters of 2025, representing a year-on-year increase of 23.97% [1] - In the third quarter alone, the net profit attributable to shareholders reached 178 million yuan, showing a year-on-year growth of 46.83% and a quarter-on-quarter increase of 33.78% [1] - The company places significant emphasis on institutional development and governance optimization, resulting in notable cost reduction and expense control achievements [1] Business Development - Dalian Heavy Industry continues to innovate in the international market for total contracting and after-sales services, with products and services exported to a cumulative total of 96 countries and regions by the end of 2024 [1] - The company has been actively expanding its total contracting business, signing contracts for various projects including the MRL company dock equipment in Australia, mining equipment, and several other significant projects in Kazakhstan and other countries [1] - There is a trend of bulk orders, with over 30 units of unloading machines and shore bridges signed with major clients in India, Indonesia, and Vietnam [1] Future Outlook - The company's future goal is to maintain the overseas business proportion at over 20% [1] - The report maintains a "Buy" rating for the company's stock [1]

Investment Rating - The investment rating for the company is "Accumulate" [5][10]. Core Insights - The company reported better-than-expected performance in its Q3 2025 results, with revenue of 10.979 billion yuan, a year-on-year increase of 8.11%, and a net profit attributable to shareholders of 490 million yuan, up 23.97% year-on-year [3][4]. - The company has successfully implemented cost reduction and efficiency improvement measures, resulting in a gross margin of 18.95% and a net margin of 4.46% for the first three quarters of 2025 [4]. - The company is expanding its international presence, with products and services sold to 96 countries and regions, aiming to maintain overseas business accounting for over 20% of total revenue [4]. Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 10.979 billion yuan, with a net profit of 490 million yuan, and a non-recurring net profit of 375 million yuan, reflecting significant growth rates of 23.97% and 33.37% respectively [3][4]. - The company forecasts revenue growth from 15.181 billion yuan in 2025 to 18.513 billion yuan in 2027, with corresponding net profits expected to rise from 728 million yuan to 1.196 billion yuan during the same period [5][8]. - The projected PE ratios for 2025, 2026, and 2027 are 17.68, 13.62, and 10.76 respectively, indicating a favorable valuation trend [5][8]. Cost Management and Efficiency - The company has focused on cost control, with a decrease in sales, management, and R&D expense ratios, contributing to an overall improvement in operational efficiency [4]. - The company’s financial metrics show a slight improvement in net profit margin by 0.57 percentage points year-on-year, reflecting effective cost management strategies [4]. International Expansion - The company has signed multiple contracts for international projects, including significant contracts in Australia and India, indicating a robust growth trajectory in overseas markets [4]. - The company aims to enhance its global market share through innovative export strategies and comprehensive service offerings [4].

证券日报网讯大连重工11月11日在互动平台回答投资者提问时表示，截至2025年11月10日收市后，公司 合并普通账户和融资融券信用账户的持有人数为75525户。 （文章来源：证券日报） ...

证券日报网讯大连重工（002204）11月7日在互动平台回答投资者提问时表示，公司合同负债是由于公 司所生产的重型机械产品单价较高、设计复杂、供应链长、制造周期长，多采用赊销方式销售，即客户 在取得设备控制权之前，预付部分货款，交货销售后形成一定额度的应收账款，随着设备的投产、运行 等，逐步回收剩余尾款。公司在手订单充足，业绩增速高于同行业平均水平，2025年前三季度实现营业 收入109.79亿元，同比增长8.11%，实现归属于上市公司股东净利润4.90亿元，同比增长23.97%。关于 扩产，公司需要基于战略规划与市场环境进行综合研判，并严格履行相应的审议程序。 ...

致：大连华锐重工集团股份有限公司 根据《中华人民共和国公司法》（以下简称《公司法》）、《上市公司股东 会规则》《深圳证券交易所上市公司股东会网络投票实施细则》（以下简称《网 络投票细则》）及《律师事务所从事证券法律业务管理办法》等有关法律、法规、 规范性文件及现行有效的《大连华锐重工集团股份有限公司章程》（以下简称《公 司章程》）的规定，本所接受大连华锐重工集团股份有限公司（以下简称"公司"） 的委托，指派律师包敬欣、刘翠梅出席了于 2025 年 11 月 6 日召开的公司 2025 年第三次临时股东会（以下简称"本次股东会"），并就公司本次股东会的召开 和召集程序、出席本次股东会的人员资格、会议召集人资格及本次股东会的表决 程序、表决结果等重要事项的合法性出具法律意见书。 为出具本法律意见书，本所律师核查了公司提供的本次股东会的相关文件， 包括但不限于： 1、《公司章程》； 2、《大连华锐重工集团股份有限公司第六届董事会第二十五次会议决议公 告》； 辽宁华夏律师事务所 关于大连华锐重工集团股份有限公司 2025 年第三次临时股东会的法律意见书 辽华律股见字［2025］011 号 3、《大连华锐重工集团股份有 ...