证券代码：002384 证券简称：东山精密 公告编号：2025-018 苏州东山精密制造股份有限公司 第六届董事会第十九次会议决议公告 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。 苏州东山精密制造股份有限公司（以下简称"公司"）第六届董事会第十九次 会议（以下简称"会议"）通知于 2025 年 4 月 13 日以专人送达、邮件等方式发 出，会议于 2025 年 4 月 23 日在公司以现场结合通讯方式召开。会议应到董事 9 人，实到董事 9 人。公司监事、高级管理人员列席了会议。会议由公司董事长袁 永刚先生主持。本次会议的召开符合《中华人民共和国公司法》《公司章程》等 有关法律法规的规定。会议经过讨论审议，以书面投票表决的方式通过以下决议： 一、审议通过《2024 年度管理层工作报告》。 表决结果：9 票同意、0 票反对、0 票弃权 二、审议通过《2024 年度董事会工作报告》，并同意将该报告提交股东会 审议。 巨潮资讯网（www.cninfo.com.cn）和公司指定信息披露报刊。 四、审议通过《2024 年度报告及摘要》，并同意将该报告提交股东会审议。 ...

苏州东山精密制造股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日召 开第六届董事会第十九次会议、第六届监事会第十四次会议，审议通过《2024 年 度利润分配预案》，本预案尚需提交公司 2024 年度股东会审议。现将 2024 年度 利润分配预案公告如下： 证券代码：002384 证券简称：东山精密 公告编号：2025- 021 苏州东山精密制造股份有限公司 关于 2024 年度利润分配预案的公告 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。 一、2024 年度利润分配预案的基本情况 1、本次利润分配预案为 2024 年度利润分配。 2、经天健会计师事务所（特殊普通合伙）审计，2024 年度归属于上市公司 股东的净利润 1,085,641,847.89 元，母公司净利润 474,043,034.73 元。根据《中 华人民共和国公司法》《公司章程》等规定，母公司提取 10%法定盈余公积金 47,404,303.47 元，加上前期计入其他综合收益当期转入留存收益-350,000,000.00 元，加上母公司年初未分配利润 482,854,237. ...

Financial Performance - The company's operating revenue for 2024 was ¥36.77 billion, representing a 9.27% increase compared to ¥33.65 billion in 2023[6]. - The net profit attributable to shareholders for 2024 decreased by 44.74% to ¥1.09 billion from ¥1.96 billion in 2023[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥898.63 million, down 44.34% from ¥1.61 billion in 2023[6]. - The net cash flow from operating activities for 2024 was ¥4.99 billion, a decrease of 3.60% compared to ¥5.17 billion in 2023[6]. - The basic earnings per share for 2024 was ¥0.64, down 44.35% from ¥1.15 in 2023[6]. - The total assets at the end of 2024 increased by 3.70% to ¥46.01 billion from ¥44.37 billion at the end of 2023[6]. - The net assets attributable to shareholders at the end of 2024 were ¥18.83 billion, up 3.77% from ¥18.14 billion at the end of 2023[6]. - The company reported a significant decline in quarterly net profit, with only ¥18.29 million in Q4 2024 compared to ¥506.75 million in Q3 2024[25]. - The gross margin for the electronic circuit products segment was 18.34%, down 2.45% year-on-year, while the gross margin for precision components increased by 3.59%[75][76]. - The company reported a significant decrease in financial expenses, with a change of -131.06% due to increased exchange gains[82]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.70 RMB per 10 shares to all shareholders, based on a total of 1,697,077,809 shares excluding treasury stock[4]. - The total cash dividend amount, including other methods, is 143,792,495.63 yuan[153]. - The company has a three-year shareholder return plan (2024-2026) to ensure stable profit distribution policies[151]. - The company plans to increase cash dividends in 2024 to return value to shareholders[87]. Business Expansion and Market Position - The company has expanded its business structure to include electronic circuit and optoelectronic display sectors, focusing on providing intelligent interconnection solutions for global customers[19]. - The company ranks second globally in flexible printed circuit boards (FPC) and third in printed circuit boards (PCB) based on revenue, indicating strong market positioning[58]. - The company has established a significant presence in the new energy vehicle sector, providing a range of products including PCBs, in-car displays, and functional structural components[59]. - The company is expanding its international operations, with new production bases in Thailand, Mexico, and the United States, to support its dual-circulation strategy[66]. - The company is actively engaging in market expansion and strategic initiatives to enhance its competitive position in the industry[126]. Research and Development - The company has made significant investments in R&D, focusing on new materials and technologies to support future innovations in AI, AR/VR, IoT, and MiniLED displays[64]. - The company has strengthened its investment in R&D and new product development, particularly in AI and smart manufacturing technologies[68]. - R&D investment has risen to approximately ¥1.27 billion in 2024, up 9.10% from ¥1.16 billion in 2023[85]. - The company has increased its R&D personnel from 4,148 in 2023 to 4,619 in 2024, representing an 11.35% growth[85]. - The company completed several key R&D projects aimed at enhancing product technology and market competitiveness, including high-brightness RGB technology and micro LED development[83]. Risk Management - The company emphasizes the importance of risk awareness regarding customer concentration, rapid technological upgrades, and exchange rate fluctuations in its future outlook[4]. - The company has a high proportion of foreign sales, exposing it to exchange rate fluctuations, and is implementing measures to manage foreign exchange risk[118]. - The company has established a "Quality and Return Dual Improvement" action plan to enhance core competitiveness and investor confidence[120]. Environmental Compliance - The company strictly adheres to various environmental protection laws and standards, ensuring compliance with national and industry regulations[161]. - The company has implemented a comprehensive pollution control system for wastewater, waste gas, and solid waste, ensuring compliance with environmental standards[168]. - The company has invested in automatic monitoring equipment to enhance environmental monitoring capabilities[168]. - The company continues to invest in environmental governance and protection, ensuring stable emissions of pollutants[169]. - No administrative penalties were incurred during the reporting period due to environmental issues[169]. Corporate Governance - The company has established a comprehensive corporate governance structure in compliance with the Company Law of the People's Republic of China and its articles of association, ensuring independent operation of the shareholders' meeting, board of directors, and supervisory board[124]. - The company maintains a clear separation from its controlling shareholders in terms of business operations, personnel, and assets, ensuring independent operational capabilities[123]. - The company has an independent finance department with dedicated personnel, implementing a strict financial supervision and management system, and operates separate bank accounts for independent fund management[124]. - The company’s independent directors include professionals with extensive backgrounds in finance and law, enhancing governance and oversight capabilities[130][131]. Employee Development - The company has a competitive salary policy aimed at attracting and retaining top talent in the industry[149]. - The employee training program emphasizes the development of management and technical skills, aiming to enhance overall employee capabilities[150]. - The total number of employees at the end of the reporting period is 23,515, with 1,570 in the parent company and 21,917 in major subsidiaries[147]. Strategic Initiatives - The company is committed to a strategic transformation towards "intelligent manufacturing" by embracing AI and optimizing its organizational structure[111]. - The company aims to enhance its competitive edge by increasing R&D investment and focusing on core products in the consumer electronics and new energy sectors[111]. - The company has committed to ensuring that any future stock incentive plans will be linked to the execution of return compensation measures[175].

东山精密（002384）公告，2024年营业收入367.7亿元，同比增长9.27%。归属于上市公司股东的净利润 10.86亿元，同比下降44.74%。公司拟向全体股东每10股派发现金红利0.7元(含税)，送红股0股(含税)， 不以公积金转增股本。 ...

Group 1 - The Tonghuashun Fruit Index concept declined by 1.38%, ranking among the top declines in the concept sector, with companies like Lens Technology, Lante Optics, and Changying Precision experiencing significant drops [1][2] - Among the stocks in the Tonghuashun Fruit Index, only two stocks saw price increases, with Zhongshi Technology and BOE A rising by 2.20% and 0.26% respectively [1][2] Group 2 - The concept sectors with the highest gains today included Supply and Marketing Cooperatives (+3.93%), Cross-Border Payment (CIPS) (+3.65%), and Glyphosate (+3.57%), while the China AI 50 and Nvidia concept saw declines of -2.09% and -1.48% respectively [2] - The Tonghuashun Fruit Index experienced a net outflow of 587 million yuan from main funds, with 14 stocks seeing net outflows, and five stocks experiencing outflows exceeding 50 million yuan [2] - The stock with the highest net outflow was Luxshare Precision, with a net outflow of 184 million yuan, followed by Goer Technology and Lingyi iTech with outflows of 165 million yuan and 61.8 million yuan respectively [2][3]

Investment Rating - The investment rating for the electronics industry is "Positive" [2] Core Viewpoints - The consumer electronics industry has established a strong global presence, with companies like Industrial Fulian and Lens Technology demonstrating resilience against geopolitical risks through diversified international operations [2][4] - The impact of current tariff policies is expected to be short-term, with potential for recovery in the consumer electronics sector as companies optimize their global supply chains [3][4] - The report emphasizes the importance of Chinese consumer electronics firms in the global supply chain, highlighting their technological advantages and the challenges in finding alternatives in other countries [4] Summary by Relevant Sections Industrial Fulian - Industrial Fulian has a significant global footprint, operating in 14 countries and regions, with overseas assets amounting to 180.158 billion RMB, representing 61.44% of total assets [2][11] - The company is focused on cloud computing and communication networks, with rapid growth in its cloud computing business due to the rise of AI [5] Lens Technology - Lens Technology has become a leading provider of precision manufacturing solutions for smart terminals, with a strong focus on innovation and a diversified product range [13] - The company has established multiple R&D and production bases in China and overseas, including Vietnam, where a new facility is under construction with a budget of 429 million RMB [16] Pengding Holdings - Pengding Holdings is recognized as a major player in the PCB industry, with a diverse product range and significant investments in Taiwan and Thailand [18][23] - The company has been ranked as the largest PCB manufacturer globally for eight consecutive years [18] Linyi Intelligent Manufacturing - Linyi Intelligent Manufacturing has a strong market share in precision components for consumer electronics and has expanded its global footprint with subsidiaries in various countries [24][27] Dongshan Precision - Dongshan Precision has established itself as a leading manufacturer in the FPC and PCB sectors, with significant investments in overseas operations to enhance its global supply chain resilience [29][31] Luxshare Precision - Luxshare Precision focuses on providing integrated manufacturing solutions for consumer electronics and automotive products, with a strong international presence [33][35]

Group 1 - The fruit index concept rose by 1.62%, ranking 9th among concept sectors, with 18 stocks increasing in value, led by Xinyi Technology, Lante Optics, and Lens Technology, which rose by 6.73%, 4.82%, and 4.41% respectively [1][2] - The fruit index concept saw a net inflow of 773 million yuan from main funds, with 14 stocks receiving net inflows, and 6 stocks exceeding 50 million yuan in net inflow, with Lens Technology leading at 247 million yuan [2][3] - The top net inflow ratios were recorded for Lens Technology, Xinyi Technology, and Lingyi Technology, with net inflow rates of 15.12%, 12.74%, and 9.75% respectively [3][4] Group 2 - The fruit index concept's performance was contrasted with other sectors, such as the 6G concept which rose by 3.18%, while the South Korea-China Free Trade Zone fell by 3.88% [2] - The trading volume and turnover rates for leading stocks in the fruit index concept were highlighted, with Lens Technology showing a turnover rate of 1.68% and a trading volume of 246.58 million yuan [3][4] - The overall market sentiment reflected a mixed performance across various sectors, with some experiencing significant declines, such as the dairy sector which fell by 3.69% [2]

Core Insights - The report highlights the emergence of new product cycles for Dongshan Precision, focusing on foldable screens, robotics, and smart glasses, indicating a strategic shift towards innovative technologies [3][7]. Company Summaries Dongshan Precision (002384.SZ) - In 2024, Dongshan Precision is projected to achieve revenue of 36.79 billion yuan, a year-on-year increase of 9.33%, while the net profit attributable to shareholders is expected to decline by 44.55% to 1.09 billion yuan due to operational adjustments in the LED business [7]. - The company anticipates a significant recovery in Q1 2025, with net profit forecasted between 434 million and 463 million yuan, representing a year-on-year growth of 50%-60% [7]. - The demand for PCB and precision components is expected to rise due to the expansion of AI applications in ICT infrastructure and consumer products, leading to an increase in average selling prices (ASP) [7]. - Revenue projections for 2025 and 2026 are 43.6 billion and 50.7 billion yuan, respectively, with net profits expected to reach 3.8 billion and 4.8 billion yuan, reflecting substantial growth rates of 248.6% and 26.4% [7]. Huakin Technology (603296.SH) - Huakin Technology has established itself as a leading ODM manufacturer in the global smart hardware sector, with a diversified product structure that includes smartphones, laptops, and data center products [3]. - The company is expanding into new application areas such as servers, automotive electronics, and robotics, driven by the increasing demand for AI computing power and smart vehicle technologies [3]. - Revenue forecasts for 2024-2026 are 109.25 billion, 129.36 billion, and 152.09 billion yuan, with net profits projected at 2.88 billion, 3.41 billion, and 4.05 billion yuan, indicating growth rates of 28.0%, 18.4%, and 17.6% [3]. Hongcheng Environment (600461.SH) - Hongcheng Environment is experiencing growth in both revenue and profit, supported by an improving operational management and a robust cash flow [7]. - The company is expected to benefit from the expansion of its business segments, with net profits projected at 1.28 billion, 1.36 billion, and 1.44 billion yuan for 2025-2027 [7]. Bojun Technology (300926.SZ) - Bojun Technology is set to benefit from the release of core customer models and the ramp-up of new product capacities, with Q1 2025 net profit expected to be between 130 million and 160 million yuan, reflecting a year-on-year increase of 30%-60% [9]. - The company is focusing on lightweight and electronic components, enhancing its production capabilities and expanding into new product areas such as white body and battery packs [10].

那肯定是原产地 原产地的话可能跟我们的几个像我们富士康这些企业可能会更多的去切磋戈尔更多的切磋原产地的问题调配 对吧我们其实涉及不到这样的直接出口因为我们大部分是供给富士康 供给力讯 供给戈尔他们在哪里生产 我们就发到哪里而且我们都是保税加工其实我们只是在中国的生产基地属于保税加工的一个模式 也不存在关税的问题 以后假如说客户需要而且我们整个价值量在整个手机里面价值量是很低的 也没有什么因为手机主要是整机出口为了砍价值量来分原产地那我们的产品是不存在这个原产地问题的 因为我们本身在东南亚生产 那我们本身产品的这个类型当中我们的产品又像类半导体是一个依种植产种技术对工程要求特别高而且是施制程是非常非常难的就是你要培育一个地方去培育一个供应链你没有个三年到五年的一个成点你是很难培育出这样优秀的一个符合英国要求的这样的一个 要求的这样的一个供应商能够迅速培养出来就不要说转移了你从中国转到泰国那就需要我中国派大量的工程师去协助他才有可能在泰国慢慢形成批量和达到刻意的要求 这次关税虽然给大家造成了给我们不要给大家在对我们的股东造成了很大的影响其实还有一个就是我们在看到这个客户也是因为我们其实这两年在公安揭秘在全球化在整 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company reported a revenue of 36.791 billion yuan for 2024, representing a year-on-year growth of 9.33%. However, the net profit attributable to shareholders decreased by 44.55% to 1.089 billion yuan [2][4]. - For the first quarter of 2025, the company expects a net profit attributable to shareholders in the range of 434 to 463 million yuan, indicating a year-on-year growth of 50% to 60%, with a median estimate of 449 million yuan, which corresponds to a 55% increase [2][4]. - The company anticipates a non-recurring net profit in the range of 392 to 419 million yuan for the first quarter of 2025, also reflecting a year-on-year growth of 50% to 60%, with a median estimate of 406 million yuan, marking a 55% increase [2][4]. Summary by Sections Financial Performance - In 2024, the company achieved total revenue of 36.791 billion yuan and a net profit of 1.089 billion yuan, with a significant decline in profit attributed to asset impairment losses in the LED business [4][8]. - The projected financials for 2025 include total revenues of 43.413 billion yuan and a net profit of 3.531 billion yuan, indicating a recovery in profitability [13]. Business Strategy - The company is focusing on optimizing its LED business operations and enhancing profitability through strategic adjustments and cost management [8]. - The demand for electronic circuits and precision components is expected to rise due to the growth of AI applications, which will positively impact the company's performance [8]. Market Outlook - The company is positioned to benefit from collaborations in the new energy sector, particularly with Tesla, which is expected to enhance operational efficiency and profitability [8]. - The upcoming year is anticipated to be significant for hardware innovation, particularly with the expected launch of AI-enabled smartphones, which may provide substantial growth opportunities for the company [8].