2025年度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： 本次股东大会无否决、增加提案的情况，也不涉及变更前次股东大会决议事项。 一、会议召开和出席情况 1、会议召开情况 广联达科技股份有限公司（以下简称"公司"）2025 年度第一次临时股东大会采取现场投 票和网络投票相结合的方式召开。 证券代码：002410 证券简称：广联达 公告编号：2025-030 广联达科技股份有限公司 本次股东大会采用现场投票和网络投票相结合的方式，表决情况如下： 1、审议通过《关于<2025 年股票期权激励计划（草案）>及其摘要的议案》 同意 833,939,369 股，占出席本次股东会有效表决权股份总数的 95.1389％；反对 42,509,222 股，占出席本次股东会有效表决权股份总数的 4.8496％；弃权 100,960 股（其中，因未投票默 认弃权 0 股），占出席本次股东会有效表决权股份总数的 0.0115％。 其中，中小股东对本议案的表决情况为： 同意 490,184,516 股，占出席本次股东会中小股东有效表决权股份总数 ...

北京市建国门北大街 8 号华润大厦 20 层 邮编：100005 电话：(86-10) 85191300 传真：(86-10) 85191350 junhebj@junhe.com 北京市君合律师事务所 关于广联达科技股份有限公司 2025 年度第一次临时股东大会的法律意见书 致：广联达科技股份有限公司 北京市君合律师事务所受广联达科技股份有限公司（以下简称"贵公司"）的 委托，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》（以下简称"《股东会规则》"）等法律、法规、规章及《广联达科技股份 有限公司章程》（以下简称"《公司章程》"）的有关规定，就贵公司 2025 年度第 一次临时股东大会（以下简称"本次股东大会"）有关事宜出具本法律意见书。 本法律意见书仅供见证本次股东大会相关事项合法性之目的而使用，未经本 所书面同意，任何人不得将其用作其他任何目的。 为出具本法律意见书之目的，本所委派律师列席了贵公司本次股东大会现场 会议，并根据有关法律法规的规定和要求，按照律师行业公认的业务标准、道德 规范和勤勉尽责精神，对贵公司提供的与本次股东大会有关的文件和现场会议召 开进程进行了见 ...

证券代码：002410 证券简称：广联达 公告编号：2025-024 广联达科技股份有限公司 第六届监事会第十五次会议决议公告 本公司及监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、监事会会议召开情况 广联达科技股份有限公司（以下简称"公司"）第六届监事会第十五次会议于 2025 年 3 月 31 日在北京市海淀区西北旺东路 10 号院东区 13 号楼广联达信息大厦 621 会议室召开。根 据《公司监事会议事规则》第七条第二款规定"情况紧急，需要尽快召开监事会临时会议的， 可以随时通过电话或者其他口头方式发出会议通知，但召集人应当在会议上作出说明"。本次 会议由公司监事会主席王金洪先生紧急召集。会议应到监事 3 名，实到监事 3 名，董事会秘书 列席了会议。本次会议的召集、召开程序符合《公司法》和《公司章程》的有关规定。 1、审议通过《关于向 2025 年股票期权激励计划激励对象授予股票期权的议案》 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票 经审核，监事会认为：本次激励计划激励对象具备《公司法》《证券法》和《公司章程》 等法律、法规和规范性文件规 ...

证券代码：002410 证券简称：广联达 公告编号：2025-023 广联达科技股份有限公司 第六届董事会第十八次会议决议公告 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、董事会会议召开情况 广联达科技股份有限公司（以下简称"公司"）第六届董事会第十八次会议于 2025 年 3 月 31 日在北京市海淀区西北旺东路 10 号院东区 13 号楼广联达信息大厦 621 会议室召开。根 据《公司董事会议事规则》第八条第二款规定"情况紧急，需要尽快召开董事会临时会议的， 可以随时通过电话或者其他口头方式发出会议通知，但召集人应当在会议上作出说明"。本次 会议由公司董事长袁正刚先生紧急召集，由于出差原因无法主持本次会议，经半数董事推举， 董事刘谦主持本次董事会。会议应到董事 9 名，实到董事 8 名，董事长袁正刚先生委托董事刘 谦先生代为出席并表决，董事云浪生先生、王爱华先生、李伟先生，独立董事柴敏刚先生、徐 井宏先生以通讯形式参会，公司监事会成员、董事会秘书列席了会议。本次会议的召集、召开 程序符合《公司法》和《公司章程》的有关规定。 《证券时报》《证券日报》 ...

近5日机构合计调研139家公司，三花智控、劲仔食品、广联达等被多家机构扎堆调研。 | 002139 | 拓邦股份 | 1 | 73 | 15.53 | -1.08 | 电子 | | --- | --- | --- | --- | --- | --- | --- | | 688458 | 美芯晟 | 1 | 70 | 36.73 | -0.03 | 电子 | | 688323 | 瑞华泰 | 1 | 65 | 14.15 | -1.12 | 基础化工 | | 603477 | 巨星农牧 | 2 | 65 | 20.39 | 8.40 | 农林牧渔 | | 832491 | 奥迪威 | 1 | 65 | 31.81 | 4.71 | 电子 | | 688197 | 首药控股 | 1 | 62 | 31.90 | 5.56 | 医药生物 | | 688008 | 澜起科技 | 1 | 61 | 77.50 | 4.70 | 电子 | | 002683 | 广东宏大 | 1 | 60 | 29.85 | 1.46 | 基础化工 | | 300294 | 博雅生物 | 1 | 56 | 27.20 | -1.16 | ...

Investment Rating - The report assigns an "Accumulate-A" rating to the company, indicating a positive outlook for its stock performance in the near term [1][8]. Core Insights - The company's business transformation is showing initial results, with cost reduction and efficiency improvements driving significant growth in performance [1]. - In 2024, the company achieved a revenue of 6.24 billion yuan, a year-on-year decrease of 4.93%, while the net profit attributable to shareholders increased by 116.19% to 250 million yuan [4][5]. - The construction industry remains sluggish, but recent policy measures are expected to gradually revive the sector, enhancing the company's revenue growth prospects [5]. - The company has optimized its business structure and implemented cost control measures, resulting in a gross margin of 84.33%, an increase of 1.82 percentage points year-on-year [5][6]. Financial Performance Summary - The company reported a net profit margin of 4.36% in 2024, up 2.53 percentage points from the previous year [5]. - The digital cost business generated revenue of 4.99 billion yuan, a decrease of 3.55%, while the digital construction business saw revenue of 787 million yuan, down 8.71% [6]. - The company is focusing on improving operational quality by shifting from scale to quality in its product offerings, which has led to a gross margin of 35.87% in the digital construction segment, up 4.40 percentage points [6]. - The company is expanding its overseas market presence, achieving revenue of 203 million yuan from international operations, a growth of 5.07% [6]. Earnings Forecast - The company is projected to have earnings per share (EPS) of 0.32, 0.38, and 0.46 for the years 2025, 2026, and 2027, respectively [7]. - Corresponding price-to-earnings (P/E) ratios for these years are expected to be 44.70, 36.72, and 30.58 based on the closing price of 14.11 yuan on March 26 [7].

| 市场数据：2025 年 3 | 月 | 日 26 | | | --- | --- | --- | --- | | 收盘价（元）： | | | 14.11 | | 年内最高/最低（元）： | | | 16.25/8.35 | | 流通 股/总股本（亿 A | | | 15.88/16.52 | | 股）： | | | | | 流通 A 股市值（亿）： | | | 224.11 | | 总市值（亿）： | | | 233.09 | | 年 基础数据：2024 | 月 12 | 日 31 | | | --- | --- | --- | --- | | 基本每股收益(元)： | | | 0.15 | | 摊薄每股收益(元)： | | | 0.15 | | 每股净资产(元)： | | | 3.68 | | 净资产收益率(%)： | | | 4.45 | 云软件服务 广联达（002410.SZ） 增持-A(首次) 业务转型成效初显，降本增效推动业绩高增 2025 年 3 月 27 日 公司研究/公司快报 公司近一年市场表现 事件描述 方闻千 执业登记编码：S0760524050001 邮箱：fangwenqian@s ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2][11]. Core Insights - The company has shown significant improvement in profit management, with a 116.2% year-on-year increase in net profit for 2024, reaching 250 million yuan, despite a 4.93% decline in total revenue [7][11]. - The company is focusing on cost control and efficiency improvements, resulting in a 5.97% reduction in sales, management, and R&D expenses [7]. - The introduction of an AI-driven solution for the construction industry is expected to enhance the company's competitive edge and drive future growth [11]. Financial Performance Summary - For 2024, the company reported total revenue of 6,240 million yuan, a decrease of 4.93% year-on-year, while the net profit was 250 million yuan, reflecting a 116.2% increase [6][7]. - The projected revenue for 2025 is 6,324 million yuan, with a net profit forecast of 502 million yuan, indicating a growth of 100.6% [6][11]. - The company's gross margin is expected to improve slightly from 84.3% in 2024 to 85.1% by 2027 [6][12]. Business Segment Analysis - The digital cost business is projected to generate revenue of 4,986 million yuan in 2024, with a gross margin of 93.42% [12]. - The digital construction segment is expected to see a revenue of 786.87 million yuan in 2024, with a gross margin of 35.87% [12]. - The overseas business is anticipated to grow, with revenue reaching 203.45 million yuan in 2024, reflecting a year-on-year increase of 5.08% [12]. Valuation and Market Position - The estimated market value range for the company is between 307.48 billion yuan and 338.46 billion yuan, with a reasonable value per share estimated between 18.61 yuan and 20.49 yuan [11]. - The company is positioned to benefit from the upcoming market reforms in construction pricing, which will enhance data service capabilities and accelerate AI integration [11].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is a leader in construction information technology, and despite a downward adjustment in net profit forecasts for 2025-2026, it maintains a "Buy" rating due to its market position [5] - The company's Q4 performance shows positive trends in revenue and profit growth, with significant cost control measures leading to improved financial metrics [6] - The digital cost business remains stable, and the digital construction business is showing effective transformation results [7] Financial Summary - For 2024, the company achieved operating revenue of 62.03 billion yuan, a year-on-year decline of 4.93%, but a net profit attributable to the parent company of 2.50 billion yuan, a year-on-year increase of 116.19% [6] - The company’s gross profit margin for 2024 was 84.33%, an increase of 1.81 percentage points year-on-year, attributed to optimized revenue structure and cost control [6] - The projected net profit for 2025 is 4.14 billion yuan, with EPS estimates of 0.25, 0.35, and 0.39 yuan per share for 2025, 2026, and 2027 respectively [5][8] Valuation Metrics - The current stock price corresponds to a PE ratio of 55.9, 40.2, and 35.5 for the years 2025, 2026, and 2027 respectively [5] - The projected revenue growth rates for 2025, 2026, and 2027 are 5.0%, 6.0%, and 6.1% respectively [8] - The company’s return on equity (ROE) is expected to improve from 1.9% in 2023 to 9.5% by 2027 [11]

Group 1: REITs and Data Centers - The first data center REIT, Southern Runze Technology Data Center REIT, has been accepted for review on the Shenzhen Stock Exchange, attracting significant investor attention due to its business model and asset characteristics [4]. Group 2: Defense and AI - Kosi Technology (688788.SH) is positioned as a leader in AI and unmanned equipment for military applications, with a strong focus on AI command and control systems, having accumulated over 20 years of core data and experience [5][6]. - The company has invested over 1 billion yuan in R&D, with a team of over 400 people dedicated to AI and military applications, indicating significant growth potential in both military and civilian sectors [6]. Group 3: Healthcare - Meinian Health (002044.SZ) is leveraging AI to enhance efficiency and reduce costs in the health checkup industry, with over 600 branches and a leading position in the number of annual health checkups [7][8]. - The company is expected to achieve revenues of 10.826 billion yuan, 12.099 billion yuan, and 13.098 billion yuan from 2024 to 2026, with corresponding net profits of 326 million yuan, 617 million yuan, and 813 million yuan [8]. Group 4: Banking - Chongqing Rural Commercial Bank (601077.SH) is expected to benefit from the Chengdu-Chongqing economic circle, with projected net profit growth rates of 5.72%, 5.99%, and 6.53% from 2025 to 2027 [9]. - China Merchants Bank (600036.SH) has shown resilience with a return to profit growth in 2024, maintaining a leading position in the industry [10]. Group 5: Carbon Market and Construction - The national carbon market is expanding, with significant implications for the steel, cement, and aluminum industries, as companies adapt to new carbon pricing mechanisms [11]. - Key players in these sectors, such as Baosteel and China Aluminum, are expected to benefit from the transition to greener production methods [11]. Group 6: Coal Industry - China Shenhua Energy (H) has seen an increase in long-term investment interest, with a recent stake acquisition by Swiss Life Insurance, reflecting a reevaluation of the coal sector's value [14][15]. - The company has a low debt ratio of 23.4% and plans to distribute 44.9 billion yuan in cash dividends in 2024, indicating strong cash flow and dividend capacity [15][16]. Group 7: Chemicals and Materials - Sanwei Chemical (002469.SZ) reported a significant acceleration in Q4 performance, with a high dividend payout ratio of 99%, making it an attractive investment [21]. - China Jushi (600176.SH) achieved a revenue of 15.856 billion yuan in 2024, with a strong performance in Q4, indicating resilience in the fiberglass market [22][23]. Group 8: Consumer Goods - Nongfu Spring (09633.HK) reported stable growth with a revenue of 42.896 billion yuan in 2024, driven by strong brand value and product innovation [30]. - The company is expected to see net profits grow by 15.6%, 15.0%, and 16.0% from 2025 to 2027, maintaining its market leadership [30]. Group 9: Textile and Apparel - Shenzhou International (02313.HK) reported a revenue of 28.66 billion yuan in 2024, with a net profit increase of 37%, indicating strong demand and operational efficiency [31].