Core Viewpoint - The construction industry is facing significant challenges in 2024, leading to adjustments in the business strategies of companies like Glodon, which has been actively seeking structural opportunities in various sectors such as urban renewal, water conservancy, new energy, municipal pipelines, and smart transportation [1][2][8]. Financial Performance - In 2024, Glodon reported total revenue of 6.24 billion yuan, a year-on-year decrease of 4.88%, while net profit attributable to shareholders was 250 million yuan, showing a significant increase of 116.19% [2][4]. - For Q1 2024, the company achieved revenue of 1.219 billion yuan, down 5.24% year-on-year, but net profit rose to 29.84 million yuan, up 390.89% [2][4]. Business Segments - In 2024, the gross profit margin for the digital design segment was 95.7%, while the digital construction segment saw a decline from 54% in 2022 to 35.9% in 2024. The digital cost segment improved its margin from 91.2% in 2022 to 93.4% in 2024 [4][6]. - The digital cost business accounted for 80.39% of total revenue in 2024, while digital construction and digital design contributed 12.69% and 1.45%, respectively [4][6]. Strategic Adjustments - Glodon has made proactive adjustments in organizational structure, key regions, and market strategies to adapt to market changes, focusing on more refined management and customer engagement [2][7]. - The company is leveraging AI technology across its product offerings, integrating nearly 100 software systems to eliminate data silos and enhance operational efficiency [10][12]. Market Expansion - Glodon has been expanding into sectors beyond traditional construction, such as water conservancy and new energy, achieving positive results through collaboration with industry design institutes [7][8]. - The company has also been actively entering overseas markets, establishing subsidiaries in Southeast Asia and Europe, and has plans to launch its digital design software in Germany [8][9]. Future Outlook - The company anticipates new opportunities arising from policies in the digital cost business and aims to improve operational quality in digital construction [6][8]. - Glodon has set ambitious performance targets in its 2025 stock option incentive plan, aiming for a net profit of 563 million yuan and a growth rate of no less than 30% in 2026 [9].

Market Performance - The market rebounded last week, with the China Securities Index rising by 1.99% to 1650.47 points [1][2] - The Shanghai Composite Index increased by 1.92%, the Shenzhen Component Index by 2.29%, and the ChiNext Index by 3.27% [2] Strong Stock Performances - Notable strong performers included: - Zhongji Xuchuang (300308) up by 13.55% - Shanghai Jahwa (600315) up by 9.31% - AVIC Shenyang Aircraft (600760) up by 8.25% - CATL (300750) up by 7.24% - Beitaini (300957) up by 6.01% [2] - Other stocks such as Hisense Home Appliances (000921), EVE Energy (300014), and Stone Technology saw gains exceeding 5% [2] Year-to-Date Stock Performance - Since the beginning of 2025, Shanghai Jahwa has surged by 51.39%, leading the gains [3] - Marumi Bio (603983) follows with a 50.59% increase, while Xintai (002294) and Anji Technology have both risen over 30% [3] Market Outlook - Positive factors are emerging as the market stabilizes, with expectations for gradual recovery in investor sentiment and stock performance [4] - The domestic economy is on a steady recovery path, supported by ongoing policy efforts [4] - The current A-share market is viewed as being in a high cost-performance zone, indicating medium to long-term investment value [4] - However, short-term market movements may remain volatile unless strong driving factors emerge [4]

证券代码：002410 证券简称：广联达 公告编号：2025-041 广联达科技股份有限公司 关于回购股份方案的实施进展公告 截至2025年4月30日，公司通过股票回购专用证券账户以集中竞价交易方式实施回购股份， 累计回购公司股份数量5,008,040股，约占公司目前总股本的0.30%，最高成交价为14.20元/股， 最低成交价为13.23元/股，成交总金额为69,543,933.8元（不含交易费用）。本次回购符合相关 法律法规要求及公司回购方案。 二、其他说明 公司首次回购股份的时间、回购股份数量、回购股份价格及集中竞价交易的委托时段符合 《上市公司股份回购规则》和《深圳证券交易所上市公司自律监管指引第9号——回购股份》 的相关规定。 1、公司未在下列期间回购股份： （1）自可能对本公司证券及其衍生品种交易价格产生重大影响的重大事项发生之日或者 在决策过程中，至依法披露之日内； 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。 广联达科技股份有限公司（以下简称"公司"）于2025年3月31日召开第六届董事会第十八 次会议，审议通过《关于回购股份方案的议案》，公 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting the stock to outperform the market by over 20% within the next six months [13]. Core Insights - The company reported a strong performance in Q1 2025, achieving a net profit of 29.84 million yuan, a year-on-year increase of 390.89%, despite a revenue decline of 5.24% to 1.219 billion yuan [3][8]. - The company's digital cost business is experiencing positive breakthroughs, driven by AI empowerment, with significant improvements in product application rates and customer satisfaction [8][9]. - The transition in the company's digital construction business is showing results, with enhanced management quality and the successful establishment of value benchmarks in the digital design sector [9]. Financial Performance Summary - In Q1 2025, the company achieved a gross margin of 89.38%, an increase of 1.67 percentage points year-on-year [8]. - The company’s revenue projections for 2025-2027 are 6.39 billion yuan, 6.61 billion yuan, and 6.90 billion yuan, respectively, with corresponding net profits of 493 million yuan, 630 million yuan, and 765 million yuan [7][10]. - The earnings per share (EPS) are projected to be 0.30 yuan, 0.38 yuan, and 0.46 yuan for 2025, 2026, and 2027, respectively [10][11]. Business Segment Insights - The digital cost business is evolving from single-position tools to comprehensive project cost management solutions, with a focus on enhancing data service offerings [8][9]. - The digital construction business is shifting its strategy to prioritize profit and cash flow management, focusing on key production factors and core business management scenarios [9]. - The company has successfully implemented AI functionalities in its cost estimation products, significantly improving efficiency and accuracy [9]. Valuation Metrics - The projected price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are approximately 49.4, 38.7, and 31.8, respectively [10][11]. - The projected return on equity (ROE) is expected to increase from 4.7% in 2025 to 11.1% by 2027 [11].

Group 1 - The core viewpoint of the news is that Guanglian Da is optimistic about its future growth and development, particularly in its digital cost business, which is seen as a cornerstone for the company [1] - Guanglian Da plans to expand its product application range and improve product renewal rates and market share by leveraging new policy lists to meet diverse customer needs in cost management [1] - The company is optimistic about the growth trend in urban renewal, although its current revenue contribution from this area is still low [1] Group 2 - The increase in sales expenses is attributed to higher advertising, promotion, and travel costs due to business development, while R&D expenses have risen due to software amortization and technology investment [1] - The company expects a significant decrease in overall labor costs for the year [1] - Guanglian Da's core business is primarily domestic, with a small proportion of foreign business, and local authorized sales and services are the main channels, limiting the direct impact of tariffs [1] Group 3 - The company aims to achieve its annual net profit target through an equity incentive plan, with quarterly data expected to fluctuate but striving for stable annual results [1] - Guanglian Da's AI strategy focuses on overcoming technical bottlenecks, enhancing competitiveness, and empowering products, with specific applications in Concetto, New Calculation, and Trading [1] - The company will showcase its progress at the construction industry summit in mid-May [1]

Financial Performance - In Q1 2025, the company achieved revenue of CNY 1.219 billion, a decrease of 5.24% year-on-year [1] - Net profit attributable to shareholders was CNY 29.84 million, a significant increase of 390.89% year-on-year [1] - Operating costs decreased by 18.42% year-on-year, primarily due to adjustments in outsourcing and raw material procurement costs [5] - Sales expenses increased by 3.7% year-on-year, driven by higher advertising, promotional, and travel costs [5] - Management expenses decreased by 20.28% year-on-year, mainly due to a reduction in one-time compensation and share-based payment expenses [5] Business Segment Performance - Digital cost business revenue was CNY 1.052 billion, a decrease of 4.69% year-on-year, with a stable renewal rate [2] - Digital construction business revenue was CNY 95.22 million, a decrease of 10.93% year-on-year, focusing on improving operational quality [3] - Digital design business revenue was CNY 5.80 million, slightly down from CNY 6.19 million year-on-year, with ongoing product recognition [4] Market Environment - National fixed asset investment grew by 4.2% year-on-year in Q1 2025, while real estate development investment continued to decline [1][2] - The construction industry remains in an adjustment phase, with Q1 typically being a low season due to seasonal factors [2] Strategic Adjustments - The company is focusing on profit-oriented strategies and resource allocation, optimizing personnel and business operations to maximize organizational potential [2] - Plans to enhance customer communication and resource preparation for targeted marketing in Q2 and the second half of the year [2] Future Outlook - Anticipated gradual improvement in the construction industry due to government fiscal policies and stabilization in real estate [4] - The company aims to leverage new market opportunities from policy changes and enhance product offerings to meet evolving customer needs [8][9] Personnel Management - The total number of employees decreased from 10,349 at the beginning of 2024 to 8,463 by the end of 2024 due to structural adjustments [6][7] - The company has completed personnel structure optimization in line with its 2025 strategic deployment [7] R&D and Cost Management - R&D expenses increased by 5.79% year-on-year, primarily due to software amortization [5] - The company has established a flexible budget control mechanism to manage expenses effectively throughout the year [10] Impact of External Factors - Tariffs have a limited direct impact on the company's business, as most operations are domestic with minimal international exposure [11][12] - The company is optimistic about the growth potential in urban renewal, which currently represents a small portion of its revenue [9]

证券代码：002410 证券简称：广联达 公告编号：2025-036 广联达科技股份有限公司 2024年度股东大会决议公告 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。 股东出席总体情况：通过现场和网络投票的股东 806 人，代表股份 921,465,106 股，占公 司有表决权股份总数的 56.1033％。其中：通过现场投票的股东 27 人，代表股份 543,514,119 股，占公司有表决权股份总数的33.0918％。通过网络投票的股东779人，代表股份377,950,987 股，占公司有表决权股份总数的 23.0115％。 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"）2024 年度股东大会采取现场投票和网络投 票相结合的方式召开。 现场会议于 2025 年 4 月 28 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 101 会议室召开；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 4 ...

广联达科技股份有限公司（以下简称"公司"）第六届监事会第十六次会议于 2025 年 4 月 28 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。本 次会议的通知已于 2025 年 4 月 23 日以电子邮件方式向全体监事发出。会议由公司监事会主席 王金洪先生召集和主持，会议应到监事 3 名，实到监事 3 名，公司董事会秘书、财务总监列席 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。 二、监事会会议审议情况 1、审议通过《关于<2025 年第一季度报告>的议案》 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票。 证券代码：002410 证券简称：广联达 公告编号：2025-038 广联达科技股份有限公司 第六届监事会第十六次会议决议公告 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 监 事 会 二〇二五年四月二十八日 经审核，监事会认为：董事会编制和审核公司 2025 年第一季度报告的程序符合法律、行 政法规和中国证监会的规定，报告 ...

证券代码：002410 证券简称：广联达 公告编号：2025-037 广联达科技股份有限公司 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。 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"）第六届董事会第十九次会议于 2025 年 4 月 28 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。本 次会议的通知已于 2025 年 4 月 23 日以电子邮件方式向全体董事及监事发出。会议由公司董事 长袁正刚先生召集和主持，会议应到董事 9 名，实到董事 9 名，董事云浪生先生、李伟先生， 独立董事马永义先生、柴敏刚先生、徐井宏先生以通讯方式参会，公司监事、董事会秘书、财 务总监列席了会议。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。 二、董事会会议审议情况 1、审议通过《关于<2025 年第一季度报告>的议案》 表决结果：同意票 9 票，反对票 0 票，弃权票 0 票。 《2025 年第一季度报告》详见《中国证券报》《证券时报》《证券日报》《上海证券报 ...

关于调整 2025 年股票期权激励计划中股票期权行权价格的公告 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。 广联达科技股份有限公司（以下简称"公司"）第六届董事会第十九次会议于2025年4月 28日召开，会议审议通过《关于调整2025年股票期权激励计划中股票期权行权价格的议案》， 现将具体情况公告如下： 一、2025 年股票期权激励计划简述 证券代码：002410 证券简称：广联达 公告编号：2025-040 广联达科技股份有限公司 1、2025 年 3 月 14 日，公司召开第六届董事会第十六次会议，审议通过了《关于公司<2025 年股票期权激励计划（草案）>及其摘要的议案》《关于公司<2025 年股票期权激励计划实施 考核管理办法>的议案》及《关于提请公司股东大会授权董事会办理 2025 年股票期权激励计划 相关事宜的议案》，相关议案已经公司董事会薪酬与考核委员会审议通过。 同日，公司召开第六届监事会第十三次会议，审议通过了《关于公司<2025 年股票期权激 励计划（草案）>及其摘要的议案》《关于公司<2025 年股票期权激励计划实施考核管理办法> 的 ...