浙江双箭橡胶股份有限公司 | 证券代码：002381 | 证券简称：双箭股份 | 公告编号：2025-019 | | --- | --- | --- | | 债券代码：127054 | 债券简称：双箭转债 | | 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： 2024年年度股东大会决议公告 1、本次股东大会未出现否决提案的情形； 2、本次股东大会没有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、召开时间： （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时间为 2025年4月25日9:15－9:25，9:30－11:30和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4月25日9:15-15:00期间的任 意时间。 2、现场会议地点：桐乡市洲泉镇永安北路1538号公司行政楼四楼会议室。 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召 开。公司通过深圳证券交易所交易系统和互联网投票系统向全体股东提供网络形 式的投票平台。 4、会议召集 ...

浙江双箭橡胶股份有限公司（以下简称"公司"）于2025年4月24日收到华 泰联合证券有限责任公司（以下简称"华泰联合证券"）出具的《华泰联合证券 有限责任公司关于更换浙江双箭橡胶股份有限公司向不特定对象发行可转换公 司债券持续督导保荐代表人的函》。华泰联合证券作为公司2022年向不特定对象 发行可转换公司债券的保荐机构，原指定卢旭东先生、秦楠女士作为公司持续督 导期的保荐代表人，现因卢旭东先生工作变动不能继续担任持续督导延续期的保 荐工作，根据相关法律法规及监管规定的要求，为保证持续督导工作的有序进行， 华泰联合证券委派刘栋先生（简历见附件）接替卢旭东先生履行公司2022年向不 特定对象发行可转换公司债券项目的持续督导职责。 本次变更后，公司2022年向不特定对象发行可转换公司债券项目的持续督导 保荐代表人为秦楠女士、刘栋先生，持续督导期至中国证券监督管理委员会和深 圳证券交易所规定的持续督导义务结束为止。 公司谨此对保荐代表人卢旭东先生在持续督导期间所做的工作表示感谢！ 特此公告。 浙江双箭橡胶股份有限公司 | 证券代码：002381 | 证券简称：双箭股份 | 公告编号：2025-018 | | --- ...

Group 1 - The report highlights that in Q4 2024, the company achieved a record high revenue of 7.79 billion yuan, marking a year-on-year increase of 5.43% and a quarter-on-quarter increase of 17.99% [4][5] - The company reported a net profit attributable to shareholders of 0.14 billion yuan in Q4 2024, which represents a significant year-on-year decrease of 82.53% and a quarter-on-quarter decrease of 53.21% [5][6] - The company is focusing on accelerating project construction as a key strategy for growth, with the TianTai intelligent manufacturing production base project expected to enhance production capacity significantly [9][10] Group 2 - The report indicates that Zhongfu Industrial's revenue for 2024 reached 22.76 billion yuan, reflecting a year-on-year increase of 21.12%, while the net profit attributable to shareholders was 0.7 billion yuan, down 39.3% [12][13] - In Q4 2024, Zhongfu Industrial's revenue was 6.03 billion yuan, up 17.05% year-on-year, but the net profit was negative at -0.24 billion yuan, a drastic decline of 106.46% [12][13] - The report notes that the decline in aluminum oxide prices is expected to significantly reduce production costs for Zhongfu Industrial, enhancing profit margins in the future [13][14] Group 3 - The report states that Meinian Health achieved a revenue of 10.7 billion yuan in 2024, a decrease of 1.76% year-on-year, with a net profit of 2.82 billion yuan, down 44.18% [17][18] - The company reported that its health check service revenue was 10.3 billion yuan, with a total of 15.38 million visits, indicating a 12% decline in customer visits [18][19] - The integration of AI technology is expected to enhance revenue generation and operational efficiency, with AI-related income reaching 220 million yuan in 2024 [18][20] Group 4 - The report discusses the global first humanoid robot marathon held in Beijing, indicating a growing interest and investment in humanoid robotics [21][22] - The establishment of the K-Humanoid Robot Alliance in South Korea, with a budget of 200 billion won (approximately 10.24 billion yuan), signifies a national commitment to advancing humanoid robotics [23][24] - The report emphasizes that the humanoid robot industry is poised for significant investment opportunities, likening its potential to the "ChatGPT moment" in technology [31][32] Group 5 - The report indicates that Electric Science Digital achieved a revenue of 10.7 billion yuan in 2024, reflecting a year-on-year increase of 7.05%, with a net profit of 5.51 billion yuan, up 10.77% [33][34] - The company is focusing on digital products and industry digitalization, with significant growth in its digital finance and smart manufacturing sectors [34][35] - The report projects that the company's revenue will continue to grow, with estimates of 11.84 billion yuan, 13.17 billion yuan, and 14.98 billion yuan for 2025-2027 [39][40] Group 6 - The report highlights that Huading Co. achieved a revenue of 1.156 billion yuan in Q1 2025, a year-on-year decrease of 44.53%, while the net profit increased by 17.26% to 0.94 billion yuan [41][42] - The company’s nylon segment reported a revenue of 1.133 billion yuan, with a production increase of 3.99% year-on-year [44][45] - The report notes ongoing project investments aimed at enhancing production capacity and market share in the high-end nylon segment [46]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company achieved a record high revenue of 7.79 billion yuan in Q4 2024, marking a year-on-year increase of 5.43% and a quarter-on-quarter increase of 17.99% [6][8] - The company continues to solidify its market share despite a challenging economic environment and increased competition, with a total revenue of 27.13 billion yuan for 2024, representing a year-on-year growth of 4.64% [7][11] - The company is focusing on accelerating project construction and expanding production capacity, particularly with the TianTai project, which is progressing steadily [10][11] Financial Performance - In 2024, the company reported a net profit attributable to shareholders of 1.54 billion yuan, a decrease of 36.49% year-on-year [5][7] - The sales gross margin for 2024 was 17.63%, down 3.12 percentage points year-on-year, while the net profit margin was 5.68%, down 3.72 percentage points year-on-year [5][6] - The company’s operating cash flow for 2024 was 0.75 billion yuan, a decline of 37.51% year-on-year, primarily due to increased cash payments to employees [7] Future Projections - The company’s revenue is projected to reach 32.00 billion yuan in 2025, 38.80 billion yuan in 2026, and 45.13 billion yuan in 2027, with corresponding net profits of 2.41 billion yuan, 3.57 billion yuan, and 4.17 billion yuan respectively [11][13] - The expected price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are 10.9, 7.4, and 6.3 times respectively, indicating a favorable growth outlook [11][13]

Group 1: Financial Performance - The company's net profit attributable to shareholders decreased significantly in 2024, marking a rare decline since its listing, primarily due to rising raw material costs and depreciation from new projects [2][3] - The company aims to achieve revenue and profit growth in 2025, contingent on upstream and downstream market conditions [5] Group 2: Raw Material Management - Raw materials, particularly rubber and carbon black, account for nearly 50% of costs, and the company has implemented measures such as forward contracts with traders to manage price risks [2][3] - The company maintains good relationships with suppliers to reduce procurement costs and adjusts inventory strategies based on market conditions [4] Group 3: Market Expansion and Strategy - The company plans to expand its market share internationally through partnerships and direct user relationships, particularly in Australia [4] - Future growth will be driven by a new production capacity of 60 million square meters of conveyor belts and an increased focus on high-margin products [4][5] Group 4: Industry Outlook - The conveyor belt industry has a broad application scope and significant market potential, driven by the need for efficient material handling solutions in various sectors [5] - The company is optimistic about the industry's future, citing the growing demand for long-distance conveyor systems and smart upgrades in related industries [5]

Investment Rating - The industry investment rating is "Recommended" (maintained) [1] Core Viewpoints - The chemical industry is expected to enter a replenishment cycle in 2025 due to several factors, including decreasing inventory levels, bottoming out of profits, and institutional holdings reaching a low point [8][30] - The supply-demand tension in phosphate rock is likely to continue, with a potential revaluation of its value, particularly focusing on the capacity expansion of Batian Co., Ltd [4][6] - The impact of the new round of tariffs imposed by the U.S. on Chinese chemical enterprises is expected to be limited, as the U.S. still needs to import a significant amount of chemical products from China [4] Summary by Sections Market Performance - The basic chemical sector showed a performance of 0.0% over the last month, 8.4% over the last three months, and 1.2% over the last year, compared to the CSI 300 index which had performances of -0.7%, 2.3%, and 8.2% respectively [2] Investment Suggestions - Focus on companies with low-cost expansion opportunities, such as Wanhu Chemical, and those in the tire and fertilizer sectors [8] - Highlight the potential for increased demand in phosphate fertilizers and lithium iron phosphate batteries, with ongoing projects in fine phosphate chemicals [4][6] - Emphasize high dividend yield opportunities in state-owned enterprises within the chemical sector, including China Petroleum and China National Offshore Oil Corporation [10] Key Company Tracking - Batian Co., Ltd. plans to expand its phosphate rock production capacity from 900,000 tons/year to 2 million tons/year, with additional projects underway [6] - The chemical industry is expected to benefit from rising prices in sulfuric acid, acrylic acid, and synthetic ammonia, with a focus on companies like Batian Co., Ltd. and others in the phosphate sector [7][9] Price Trends - As of April 3, 2025, the price of phosphate rock was 1,038 CNY/ton, with slight fluctuations in related fertilizer prices [19] - The Brent and WTI crude oil prices were reported at 66.06 and 62.32 USD/barrel, respectively, indicating a week-on-week decrease of approximately 9.98% and 9.73% [12]

Group 1: Company Announcements - WuXi AppTec announced the sale of 50.8 million shares of WuXi AppTec Holdings through block trading, with a transaction amount of approximately HKD 2.178 billion, resulting in an investment gain of about RMB 1.847 billion, which accounts for over 10% of the company's latest audited net profit attributable to shareholders [1] - Jinlongyu plans to invest RMB 1.2 billion to construct a production line for key materials for solid-state batteries in Huizhou New Materials Industrial Park [2] - Dazhu CNC is conducting preliminary research on the issuance of overseas securities (H shares) and listing [3] - Anyuan Coal Industry plans to acquire 57% of Jinhui Magnetic Separation and simultaneously divest its coal business, which is expected to constitute a major asset restructuring [4] - Yuntian Lifa announced that its subsidiary has completed the delivery and acceptance of AI training and inference computing power services, positively impacting the company's operational performance [5] - AVIC Industry plans to voluntarily withdraw its A-share listing and will be suspended from trading starting April 3, 2025 [6] Group 2: Financial Performance - Naipu Mining reported a 45.46% year-on-year increase in net profit for 2024 and plans to distribute a cash dividend of RMB 0.7 per 10 shares [7] - New Hope expects a profit of RMB 430 million to RMB 500 million in the first quarter, marking a turnaround from losses [7] - Jinbei Automobile reported a net profit of RMB 382 million for 2024, a year-on-year increase of 214.06% [7] - Hailu Heavy Industry anticipates a year-on-year net profit increase of 50% to 65% for the first quarter of 2025 [8] Group 3: Major Transactions and Investments - Baiyin Nonferrous Metals completed the acquisition of a mining company's equity, increasing its copper metal resources to approximately 930,000 tons [9] - Ningbo Port expects to complete a container throughput of 12.11 million TEUs in the first quarter, a year-on-year increase of 10.9% [11] - Huafeng Communication reported a year-on-year net profit increase of 38.38% for 2024 [11] - Kid King anticipates a year-on-year net profit increase of 72.44% for 2024 and plans to distribute a cash dividend of RMB 0.5 per 10 shares [11]

| 证券代码：002381 证券简称：双箭股份 | | | | | 公告编号：2025-013 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 债券代码：127054 债券简称：双箭转债 | | | | | | | | | 浙江双箭橡胶股份有限公司 | | | | | | | | | 关于续聘公司 2025 | 年度审计机构的公告 | | | | | | | | 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。 | | | | | | | | | 浙江双箭橡胶股份有限公司（以下简称"公司"）已于 4 | | 2025 | 年 | 月 1 | 日召 | | | | 开第八届董事会第十三次会议及第八届监事会第十二次会议，审议通过了《关于 | | | | | | | | | 续聘公司 2025 年度审计机构的议案》，公司拟续聘天健会计师事务所（特殊普 | | | | | | | | | 通合伙）（以下简称"天健"）作为公司 年度审计机构。本事项尚需提交 | 2025 ...

为提高工作效率，保证业务办理手续的及时性，董事会提请股东大会授权公 司董事长或其指定授权代理人办理上述授信额度相关事宜及签署相关法律文件。 同时，公司（含下属控股子公司）将在非关联方银行申请相关授信额度。 上述授权有效期为公司2024年年度股东大会批准之日起至召开2025年年度 股东大会作出新的决议之日止。 证券代码：002381 证券简称：双箭股份 公告编号：2025-012 债券代码：127054 债券简称：双箭转债 浙江双箭橡胶股份有限公司 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。 浙江双箭橡胶股份有限公司（以下简称"公司"）第八届董事会第十三次会 议于2025年4月1日审议通过了《关于向银行申请综合授信额度的议案》。现将具 体情况公告如下： 为满足公司生产经营需要，综合考虑公司资金安排，公司（含下属控股子公 司）拟向非关联方银行申请不超过人民币35亿元的综合授信额度，包括但不限于 流动资金贷款、非流动资金贷款、承兑汇票、保理、保函、开立信用证、票据贴 现等授信业务。上述授信额度最终以相关银行实际审批的授信额度为准，具体融 资金额将视公司的实际经营 ...

浙江双箭橡胶股份有限公司 | 编制单位：浙江双箭橡胶股份有限公 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 司 | | | | | | | | 单位：人民币万 | | 元 | | | | | | | | | | | | | 占用方与上市公 | 上市公司核算的 | 2024年期初 | | | 2024年度偿 | | 还 | 2024年期末 | | | | | | | | | 非经营性资金占用 | | 资金占用方名称 | | | | 计发生金额 | 资金的利 | | | 息 | | 占用形成原因 | | 占用性质 | | | | | | | | | 司的关联关系 | 会计科目 | 占用资金余额 | | | 累计发生金 | | 额 | 占用资金余额 | | | | | | | | | | | | | | （不含利息） | （如有） | | | | 控股股东、实际控制人及其 | | | | | | | | | | 附 | | | | | | | | 非经营性占 | | 用 | | | | | | | | | | ...