证券代码：002271 证券简称：东方雨虹 公告编号：2025-012 北京东方雨虹防水技术股份有限公司 关于为下属公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 （一）本次担保基本情况 1、北京东方雨虹防水技术股份有限公司（以下简称"公司"）与上海浦东 发展银行股份有限公司张江科技支行（以下简称"浦发银行张江科技支行"）签 署《最高额保证合同》，公司为浦发银行张江科技支行与公司控股子公司上海东 方雨虹防水技术有限责任公司（以下简称"上海技术公司"）之间签订的主合同 项下一系列债务提供连带责任保证。保证期间为自各笔债权合同债务履行期届满 之日起至该债权合同约定的债务履行期届满之日后三年止。前述担保的最高债权 本金余额为不超过等值人民币 10,000 万元。 2、公司与上海浦东发展银行股份有限公司郑州分行（以下简称"浦发银行 郑州分行"）签署《最高额保证合同》，公司为浦发银行郑州分行与公司全资子 公司河南东方雨虹建筑材料有限公司（以下简称"河南东方雨虹"）之间主合同 项下一系列债务提供连带责任保证。保证期间为自各笔债权合 ...

2025年2月21日，北京东方雨虹防水技术股份有限公司（以下简称"公司"） 第八届董事会第二十七次会议在公司会议室以现场及通讯相结合的方式召开。会 议通知已于2025年2月19日通过专人送达、邮件等方式送达给全体董事和监事。 会议应到董事11人，实到董事11人，全体监事、董事会秘书列席会议，会议的召 集召开符合《公司法》及《公司章程》的相关规定。会议由董事长李卫国先生召 集并主持，全体董事经过审议通过了如下决议： 证券代码：002271 证券简称：东方雨虹 公告编号：2025-011 北京东方雨虹防水技术股份有限公司 第八届董事会第二十七次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、审议通过了《关于制定<市值管理制度>的议案》 表决结果：同意11票，反对0票，弃权0票。 为加强公司市值管理工作，切实推动公司提升投资价值，增强投资者回报， 维护公司、投资者及其他利益相关者的合法权益，根据《公司法》、《证券法》、 《上市公司监管指引第10号——市值管理》、《深圳证券交易所股票上市规则》 等法律、法规、规范性文件及《公司章程》等规定，结合公司实 ...

Summary of Dongfang Yuhong Conference Call Company Overview - **Company**: Dongfang Yuhong - **Industry**: Waterproofing and construction materials Key Points and Arguments Financial Performance and Adjustments - In Q4 2024, Dongfang Yuhong recognized significant credit and asset impairments due to changes in the real estate market and the performance of large property developers, leading to increased accounts receivable [3][4] - The company is transitioning from reliance on large real estate clients to retail and small B-end channels, expecting over 80% of revenue from these segments by 2025, which will reduce receivable risks and improve cash flow [3][5] - Retail sales for 2024 are projected at approximately 9.3 billion RMB for civil construction and 520 million RMB for Deaiwei, totaling around 10 billion RMB in retail revenue [3][7] - The revenue target for 2025 is set at 30 billion RMB, indicating a recovery from the 28 billion RMB expected in 2024, despite ongoing challenges in real estate-related business [3][8] Market Trends and Strategic Adjustments - The real estate sector is expected to remain weak in 2025, with construction demand continuing to decline, impacting the building materials industry [3][9] - Despite a general downturn in the waterproofing industry, Dongfang Yuhong anticipates outperforming the market due to increased market share, retail growth, and expansion into new product categories and overseas markets [3][11] - The company is enhancing competitiveness through market share growth, retail development, and overseas expansion, with a projected overseas revenue of 700-800 million RMB in 2024, increasing to around 1.5 billion RMB in 2025 [3][18] Cost Management and Pricing Strategy - Dongfang Yuhong is focused on reducing production costs through material optimization and efficiency improvements while maintaining product quality, which has allowed for stable gross margins despite price competition [3][19] - The company does not actively seek price wars but is prepared to compete on price if necessary, leveraging its cost structure to maintain competitiveness [3][20] Future Growth Areas - Emerging segments such as sand powder, construction coatings, and non-woven fabrics are expected to become significant growth drivers in the coming years [3][17] - The successful transition to a retail-focused business model is anticipated to improve cash flow and operational metrics, setting a positive outlook for 2025 [3][30] Dividend Policy - Dongfang Yuhong plans to maintain a stable and high-level cash dividend strategy, supported by strong operating cash flow and low capital expenditure needs [3][33] Additional Important Insights - The company is addressing historical issues related to accounts receivable and asset impairments to ensure a smoother operational future [3][6] - The transition from large-scale construction to a more diversified approach involving small B-end channels is seen as a successful strategy to mitigate risks associated with the real estate sector [3][5][12] - The impact of major clients like Vanke on revenue has been significant, with a drop from over 1.1 billion RMB to just over 100 million RMB in 2024 due to risk management strategies [3][25]

证券代码：002271 证券简称：东方雨虹 公告编号：2025-010 北京东方雨虹防水技术股份有限公司 关于春节假期期间投资者热线安排的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 根据北京东方雨虹防水技术股份有限公司（以下简称"公司"或"东方雨虹"） 的业务特点，为给员工提供更为宽裕的休假时间，充分体现公司"以人为本"的 人文关怀,公司决定安排员工通过调休以延长春节假期放假时间，即于 2025 年 1 月 26 日开始放假，2025 年 2 月 9 日正式上班。放假期间公司投资者热线 （010-59031997）将无人接听，届时若投资者需与公司沟通，可在深交所互动易 平台(http://irm.cninfo.com.cn)东方雨虹对应页面留言，公司将由工作人员统 一进行回复，由此给投资者带来不便敬请谅解。 特此公告。 北京东方雨虹防水技术股份有限公司董事会 2025 年 1 月 25 日 ...

北京市金杜律师事务所 关于北京东方雨虹防水技术股份有限公司 2025 年第一次临时股东大会的法律意见书 致：北京东方雨虹防水技术股份有限公司 北京市金杜律师事务所（以下简称本所）接受北京东方雨虹防水技术股份 有限公司（以下简称公司）的委托，根据《中华人民共和国证券法》（以下简 称《证券法》）、《中华人民共和国公司法》（以下简称《公司法》）、《上 市公司股东大会规则（2022 年修订）》（以下简称《股东大会规则》）等中华 人民共和国境内（以下简称中国境内，为本法律意见书之目的，不包括中国香 港特别行政区、中国澳门特别行政区和中国台湾地区）现行有效的法律、行政 法规、规章、规范性文件和现行有效的《北京东方雨虹防水技术股份有限公司 章程》（以下简称《公司章程》）有关规定，指派律师出席了公司于 2025 年 1 月 20 日召开的 2025 年第一次临时股东大会（以下简称本次股东大会），并就 本次股东大会的相关事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限 于： 1. 经公司 2024年第二次临时股东大会审议通过的《公司章程》； 2. 公司 2025 年 1 月 4 日刊登于 ...

证券代码：002271 证券简称：东方雨虹 公告编号：2025-009 1、本次股东大会未出现否决提案的情形； 北京东方雨虹防水技术股份有限公司 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的内容真实、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、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 （一）会议召开情况 1、本次股东大会的召开时间 现场会议时间为：2025年1月20日（星期一）下午14时30分 网络投票时间为：2025年1月20日（星期一） 其中，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1 月20日的交易时间，即上午9:15—9:25，9:30—11:30和下午13:00—15:00；通 过深圳证券交易所互联网投票系统进行网络投票的具体时间为：2025年1月20日 上午9:15至下午15:00期间的任意时间。 2、股权登记日：2025年1月13日（星期一） 3、会议召开地点：北京市亦庄经济技术开发区科创九街19号院C座一层101 会议室 4、会议召开方式：采用现场投票与网络投票相结合的方式召开 5、会 ...

Financial Projections - The estimated net profit attributable to shareholders for 2024 is projected to be between 98.65 million and 147.45 million CNY, representing a decrease of 95.66% to 93.51% compared to the previous year’s profit of 2.273 billion CNY[3] - The estimated net profit after deducting non-recurring gains and losses is projected to be between 126.35 million and 175.16 million CNY, a decrease of 93.14% to 90.48% from the previous year’s profit of 1.841 billion CNY[3] - Basic earnings per share are expected to be between 0.04 CNY and 0.06 CNY, down from 0.91 CNY per share in the previous year[3] Revenue and Sales Performance - The decline in revenue is attributed to the company's decision to abandon poorly performing direct sales projects, leading to a decrease in direct sales income[3] - Increased efforts in channel transformation have resulted in a short-term rise in expenses[3] Risk Management - The company has strengthened its accounts receivable risk management and has made provisions for potential impairment losses on accounts receivable[4] Reporting and Estimates - The financial data presented is a preliminary estimate and will be detailed in the 2024 annual report[5]

Investment Rating - The report maintains a **Buy** rating for Oriental Yuhong with a target price of RMB 15.65, based on a 20x 2025 expected P/E ratio [5][6] Core Views - Oriental Yuhong's management remains cautious about domestic demand in 2025 but is optimistic about overseas market expansion, targeting overseas revenue of RMB 1.5-2 billion [2][4] - The domestic waterproofing market is expected to remain under pressure in 2025, with demand projected to decline by 10-20% YoY, following a 20-30% decline in 2024 [3] - The company has adjusted its 2025 domestic revenue forecast downward to RMB 30 billion from the previous RMB 32.7 billion [3] Domestic Market Performance - In Q4, Oriental Yuhong achieved positive YoY growth in shipments, with a notable 40% YoY increase in civil building materials [2] - The company has been actively managing accounts receivable, achieving a significant YoY reduction by the end of 2024 [2] Overseas Expansion - Oriental Yuhong is accelerating its overseas expansion, with its US factory (Phase 1) expected to commence operations by September-October 2025 [4] - The company is exploring opportunities to establish additional factories in the US and is actively expanding into Southeast Asia and Saudi Arabia [4] - Despite the overseas expansion, the company plans to maintain cautious capital expenditures and will consider dividend payouts based on cash flow conditions [4] Financial Metrics - The company's market capitalization is RMB 32.0 billion (USD 4.37 billion), with a P/B ratio of 1.1x as of December 2024 [6] - The 52-week stock price range is RMB 17.85-9.86, with a current price of RMB 12.71 as of January 15, 2025 [6] - The report forecasts a 23.1% potential stock price increase and a 0.9% dividend yield, resulting in a total expected return of 24.1% [9] Industry Outlook - The waterproofing industry is undergoing accelerated consolidation due to cash flow pressures, with prices expected to stabilize due to profitability considerations [3]

Group 1 - The core point of the article is that Oriental Yuhong has successfully completed its first trial production at its production, research, and logistics base in Malaysia, marking a significant step in its internationalization process set for January 2025 [1] - This production base is a key part of Oriental Yuhong's strategy in Southeast Asia, aimed at serving the urgent demand for high-quality building materials in Malaysia and Singapore [1]