Investment Rating - The report maintains a "Buy-A" investment rating for the company, with a six-month target price of 34.19 CNY [4][7]. Core Views - The company is expected to benefit from the expanding demand for AI infrastructure, leading to significant growth in its first-quarter performance, with a projected net profit increase of 50%-60% year-on-year [1]. - The company's revenue for 2024 is projected to be 36.79 billion CNY, reflecting a 9.33% increase from the previous year, driven by a dual-engine strategy focusing on consumer electronics and new energy [2]. - The company has actively repurchased shares, indicating confidence in its future development, with a total repurchase amount planned between 100 million CNY and 200 million CNY [3]. Financial Projections - Revenue projections for the company are as follows: 36.79 billion CNY for 2024, 42.60 billion CNY for 2025, and 49.12 billion CNY for 2026. Corresponding net profits are expected to be 1.09 billion CNY, 2.91 billion CNY, and 3.66 billion CNY respectively [4][12]. - The report anticipates a price-to-earnings (PE) ratio of 20 times for 2025, which corresponds to the target price of 34.19 CNY [4].

Group 1 - The US government has temporarily exempted certain electronic products from tariffs, but this exemption is not permanent and will last only until a new tariff plan for the semiconductor industry is established [2][21] - China's foreign trade in the first quarter of this year reached 10.3 trillion yuan, a year-on-year increase of 1.3%, with exports growing by 6.9% and imports declining by 6% [3] - The State Administration for Market Regulation in China has introduced 37 key measures to support the development of private enterprises, focusing on breaking down barriers and promoting fair competition [4][5] Group 2 - Hong Kong is preparing to attract Chinese concept stocks back to its market, emphasizing its stability and attractiveness amid global financial market volatility [6][7] - The China Securities Regulatory Commission has emphasized the importance of functionality in the fund industry, aiming for a balance between quality and scale [8] - Insurance funds are accelerating their entry into the stock market, with the scale of long-term stock investment trials increasing from 50 billion yuan to 162 billion yuan [9] Group 3 - The US is experiencing a significant drop in import orders, with a 64% decrease in overall import volume, indicating potential disruptions in trade due to tariff policies [10][11] - The total share of stock ETFs in A-shares has surpassed 2 trillion shares, marking a historical high, with substantial inflows of capital observed in April [12] - Global pension funds are pausing investments in US assets due to uncertainties stemming from aggressive tariff policies, indicating a shift in investment strategies [13] Group 4 - The AI industry is facing scrutiny over its energy consumption, with Elon Musk's AI company xAI being investigated for violating environmental regulations related to its power generation [14] - The UK government plans to take over the British Steel Company from a Chinese firm, raising concerns about foreign investments in critical industries [15] - The consumer electronics sector is seeing increased research interest, driven by strong domestic demand policies and a surge in M&A activities in the technology field [17]

Financial Performance - In 2024, the company achieved total operating revenue of 3,679,063.62 million yuan, an increase of 9.33% compared to the previous year[6] - The net profit attributable to shareholders of the listed company decreased by 44.55% to 108,937.06 million yuan, with a net profit of 90,235.60 million yuan after deducting non-recurring gains and losses, down 44.11% year-on-year[7] - The basic earnings per share decreased by 45.22% to 0.63 yuan[3] - The weighted average return on net assets decreased by 5.47 percentage points to 5.91%[3] Assets and Equity - The company's total assets at the end of the reporting period were 4,618,801.39 million yuan, reflecting a growth of 4.09% from the beginning of the period[8] - The equity attributable to shareholders of the listed company increased by 3.79% to 1,883,011.60 million yuan[8] - The net asset per share attributable to shareholders of the listed company increased by 4.05% to 11.04 yuan[8] - The financial condition of the company remains healthy, with stable asset growth[8] Business Strategy and Challenges - The company focused on a "dual-engine" development strategy in consumer electronics and new energy, maintaining stable growth in core business[6] - The company incurred an asset disposal loss of 164 million yuan and recognized an asset impairment loss of 595 million yuan related to its LED business[7]

Financial Performance - The net profit attributable to shareholders is expected to increase by 50%-60% compared to the same period last year, with an estimated profit of 434.02 million yuan[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses is also expected to rise by 50%-60%, with an estimated profit of 391.96 million yuan[3] - Basic earnings per share are projected to be 0.26 yuan, compared to 0.17 yuan in the same period last year[3] Market Demand and Product Contribution - The increase in performance is attributed to the growing demand for AI in ICT infrastructure and consumer products, leading to a significant rise in sales of electronic circuits and precision components[5] - The company’s products are essential components in the consumer electronics and new energy vehicle industries, contributing to the overall performance improvement[5] Reporting and Estimates - The financial data presented is based on preliminary estimates and will be detailed in the company's Q1 2025 report[6] - The performance forecast has not been audited by registered accountants[4] - The reporting period for the performance forecast is from January 1, 2025, to March 31, 2025[3] Investor Guidance - The company emphasizes the importance of cautious decision-making and awareness of investment risks for investors[6] - The announcement was made by the board of directors on April 14, 2025[7]

东山精密（002384）公告，2025年第一季度预计归属于上市公司股东的净利润为4.34亿元-4.63亿元，同 比增长50%-60%。归属于上市公司股东的扣除非经常性损益的净利润为3.92亿元-4.18亿元，同比增长 50%-60%。基本每股收益预计为0.26元/股-0.27元/股。公司电子电路、精密组件等产品销量显著提升， 带动业绩增长。 ...

从中证500相对价值指数持仓的市场板块来看，上海证券交易所占比55.14%、深圳证券交易所占比 44.86%。 金融界4月14日消息，上证指数高开高走，中证500相对价值指数 (500R价值，H30354)报6989.26点。 数据统计显示，中证500相对价值指数近一个月下跌7.13%，近三个月上涨1.59%，年至今下跌5.15%。 据了解，中证500相对价值指数综合考察中证500指数样本的价值和成长特征，选取价值风格较为突出的 证券为样本，并采用经综合价值概率调整后的自由流通市值加权，以反映中证500指数中具有价值风格 特征证券的整体表现，为市场提供更具多元化风险收益特征的投资标的。该指数以2004年12月31日为基 日，以1000.0点为基点。 从指数持仓来看，中证500相对价值指数十大权重分别为：苏州银行（1.04%）、东山精密（1.03%）、 永泰能源（0.91%）、华天科技（0.78%）、长沙银行（0.76%）、振华科技（0.75%）、东吴证券 （0.75%）、财通证券（0.72%）、云天化（0.72%）、浙江龙盛（0.7%）。 从中证500相对价值指数持仓样本的行业来看，工业占比19.84%、原材 ...

证券代码：002384 证券简称：东山精密 公告编号：2025-015 苏州东山精密制造股份有限公司 关于回购股份事项前十名股东和前十名无限售条件股东持股情况的公告 2025 年 4 月 11 日 序号 股东名称 持股数量 占总股本的 比例（%） 1 袁富根 58,796,052 4.24 2 袁永峰 55,597,038 4.01 3 香港中央结算有限公司 53,890,228 3.89 4 袁永刚 50,556,549 3.65 5 中国农业银行股份有限公司－中证 500 交易型 开放式指数证券投资基金 20,619,900 1.49 6 中国人寿保险股份有限公司－传统－普通保险 产品－005L－CT001 沪 18,719,708 1.35 7 太平人寿保险有限公司－传统－普通保险产品- 022L-CT001 深 16,405,629 1.18 8 新华人寿保险股份有限公司－分红－个人分红- 018L-FH002 深 13,502,948 0.97 9 全国社保基金五零三组合 13,000,000 0.94 10 中国农业银行股份有限公司－摩根新兴动力混 合型证券投资基金 12,468,362 0.90 ...

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9日召开第六届董事会第十八次会议， 审议通过了《关于回购公司股份方案的议案》，同意公司使用自筹资金或其他合法资金通过深圳证券交 易所股票交易系统以集中竞价交易方式回购公司已发行的人民币普通股股票（A股），回购股份将用于 员工持股计划或者股权激励。回购资金总额人民币1亿元-2亿元，回购价格为不超过人民币48.78元/股。 按照本次回购价格上限48.78元/股测算，回购股份数量预计为205万股-410万股，占公司目前总股本的 0.12%-0.24%。具体回购金额及回购数量以回购完成时实际使用的资金和回购的股份数量为准。回购股 份的实施期限为自董事会审议通过回购股份方案之日起12个月内。具体内容详见2025年4月10日巨潮资 讯网（www.cninfo.com.cn）和《中国证券报》《上海证券报》《证券时报》《证券日报》的相关公告 （2025-011、012、013）。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002384 证券简称：东山精密 公告编号：2025-014 苏州东山精密制造股份有限公司关于首次回购公司股份的公告 本公司 ...

Group 1 - The Tonghuashun Fruit Index concept rose by 4.97%, ranking third among concept sectors, with 20 stocks increasing in value, including Industrial Fulian, which hit the daily limit, and other notable gainers such as GoerTek and Lens Technology, which rose by 9.69%, 8.86%, and 7.50% respectively [1][2] - The main capital inflow into the Tonghuashun Fruit Index concept sector was 2.097 billion yuan, with 14 stocks receiving net inflows, and 7 stocks seeing inflows exceeding 50 million yuan. Industrial Fulian led with a net inflow of 843 million yuan, followed by GoerTek, Luxshare Precision, and Dongshan Precision with net inflows of 639 million yuan, 344 million yuan, and 144 million yuan respectively [2][3] - The net inflow ratios for Industrial Fulian, GoerTek, and Zhuhai Guanyu were the highest at 18.61%, 11.09%, and 10.39% respectively [3][4] Group 2 - The top-performing concept sectors today included Dairy with a rise of 6.28%, and Childcare Services with an increase of 5.22%, while the Tonghuashun Fruit Index was at 4.97% [2] - The trading volume and turnover rates for key stocks in the Tonghuashun Fruit Index were significant, with Industrial Fulian showing a turnover rate of 1.28% and GoerTek at 9.12% [3][4]

证券代码：002384 证券简称：东山精密 公告编号：2025-014 苏州东山精密制造股份有限公司 关于首次回购公司股份的公告 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。 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 9 日召 开第六届董事会第十八次会议，审议通过了《关于回购公司股份方案的议案》， 同意公司使用自筹资金或其他合法资金通过深圳证券交易所股票交易系统以集 中竞价交易方式回购公司已发行的人民币普通股股票（A 股），回购股份将用于 员工持股计划或者股权激励。回购资金总额人民币 1 亿元-2 亿元，回购价格为 不超过人民币 48.78 元/股。按照本次回购价格上限 48.78 元/股测算，回购股份 数量预计为 205 万股-410 万股，占公司目前总股本的 0.12%-0.24%。具体回购金 额及回购数量以回购完成时实际使用的资金和回购的股份数量为准。回购股份的 实施期限为自董事会审议通过回购股份方案之日起 12 个月内。具体内容详见 2025 年 4 月 10 日巨潮资讯网（www.cninfo.com.cn）和《中国 ...