证券代码：002416 证券简称：爱施德 公告编号：2025-022 | 股东 | 是否为控 股股东或 第一大股 | 本次 | 占其所 | 占公司 | 是 否 | 是否 | 质押起始日 | | | | | | | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 质押延期 | 持股份 | 总股本 | 为 | 为补 | | | 原质押 | | 延期后质 | | 质权 | | | 名称 | | 数量 | 比例 | 比例 | 限 | 充质 | | | 到期日 | | 押到期日 | | 人 | 用途 | | | 东及其一 致行动人 | （股） | （%） | （%） | 售 | 押 | | | | | | | | | | | | | | | 股 | | | | | | | | | | | 新余 | | | | | | | | | | | | | 国泰 | | | 全球 | | | | | | | | | | | | | | | | 星投 | | | | | | | ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [6]. Core Insights - The company is actively pursuing an "extreme operation" strategy to enhance profitability and efficiency, leading to a comprehensive gross margin of 4.26% in 2024, an increase of 1.14 percentage points year-on-year [2]. - The company has established a robust distribution network, serving as a primary distributor for major brands like Apple, Honor, and Samsung, with over 100,000 stores across various channels in China [3]. - The company is expanding into AI and smart computing sectors through strategic partnerships and acquisitions, including a joint venture with "Shenzhen Deep Intelligence City Investment" to invest in smart terminals and AI industries [4]. Financial Performance Summary - For 2024, the company is projected to achieve a revenue of 658.21 billion yuan, a decrease of 28.58% year-on-year, with a net profit of 5.81 billion yuan, down 11.26% [1]. - The first quarter of 2025 is expected to see revenues of 127.37 billion yuan, reflecting a 41.18% decline year-on-year, with a net profit of 1.26 billion yuan, a decrease of 24.89% [1]. - The company has reduced accounts receivable by 32.30% and financial expenses by 51.72% in 2024, indicating improved operational efficiency [2]. Business Strategy and Market Position - The company is transitioning to a digital-enabled agency model, enhancing its operational capabilities and expanding its market presence in Southeast Asia, Latin America, the Middle East, and Africa [3]. - The establishment of the "Aishide Smart City" joint venture and the investment in "Shenzhen Aishide Intelligent Computing Technology Co., Ltd." are aimed at accelerating the development of AI-related businesses [4]. - The company has maintained a high dividend payout ratio for eight consecutive years, reflecting its commitment to shareholder returns [5].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [6]. Core Insights - The company is actively pursuing an "extreme operation" strategy to enhance profitability and efficiency by reducing low-margin business segments, resulting in a comprehensive gross margin of 4.26% in 2024, an increase of 1.14 percentage points year-on-year [2]. - The company has established a robust distribution network as a primary distributor for major smartphone brands, with over 10,000 stores across various channels in China, and is expanding its presence in Southeast Asia and Latin America [3]. - The company is diversifying into AI and smart computing through partnerships and acquisitions, including a joint venture with "Shenzhen Deep Intelligence City Investment" to invest in smart terminals and AI industries, with a total fund size of 500 million yuan [4]. Financial Performance Summary - For 2024, the company is projected to achieve revenue of 65.82 billion yuan, a decrease of 28.58% year-on-year, with a net profit of 581 million yuan, down 11.26% [5]. - The company expects revenue growth to recover in 2025, with projected revenues of 75.36 billion yuan and a net profit of 666 million yuan, reflecting a year-on-year growth of 14.50% and 14.56% respectively [5]. - The company has maintained a high dividend payout ratio for eight consecutive years, indicating a commitment to returning value to shareholders [5].

Investment Rating - The report maintains a "Buy" investment rating for the company [12] Core Views - The company is positioned as a leading domestic distributor for Apple and is expanding into AI computing services, marking the beginning of a second growth curve [5][10] - The company's financial fundamentals are stable, with a focus on optimizing core business and enhancing profitability through strategic initiatives [5][10] Financial Performance - In 2024, the company achieved a total revenue of 658.21 billion yuan, a year-on-year decrease of 28.58%, and a net profit of 5.81 billion yuan, down 11.26% [4] - For Q1 2025, revenue was 127.37 billion yuan, a decline of 41.18%, with a net profit of 1.26 billion yuan, down 24.89% [4] - Accounts receivable decreased by 5.63 billion yuan year-on-year, a drop of 32.30%, and total liabilities fell by 10.45% [5] Market Performance - The company has seen a significant increase in sales due to Apple's pricing strategy and government subsidies, with the iPhone 16 series achieving a market share of over 21.5% [6][9] - The company has established a robust distribution network, serving over 2,700 Apple authorized stores and more than 9,000 clients for its Honor business [9] Growth Strategy - The company is actively developing new beverage brands and AI computing services, aiming for dual-driven growth through internal and external expansion [10][11] - A new subsidiary focused on AI computing services has been established, indicating a strategic pivot towards emerging technology sectors [11] Earnings Forecast - Revenue projections for 2025-2027 are 711.52 billion yuan, 782.67 billion yuan, and 853.12 billion yuan respectively, with corresponding EPS of 0.54, 0.66, and 0.71 yuan [12][14] - The current stock price corresponds to a PE ratio of 21.4, 17.6, and 16.4 for the years 2025, 2026, and 2027 respectively [12][14]

Investment Rating - The report maintains a "Buy" investment rating for the company [12] Core Views - The company is positioned as a leading domestic distributor for Apple and is expanding into AI computing services, marking the beginning of a second growth curve [5][10] - The company's financial fundamentals are stable, with a focus on optimizing core business and enhancing profitability through strategic initiatives [5][10] Financial Performance - In 2024, the company achieved a total revenue of 658.21 billion yuan, a year-on-year decrease of 28.58%, and a net profit of 5.81 billion yuan, down 11.26% [4] - For Q1 2025, revenue was 127.37 billion yuan, a decline of 41.18%, with a net profit of 1.26 billion yuan, down 24.89% [4] - Accounts receivable decreased by 5.63 billion yuan year-on-year, a drop of 32.30%, and total liabilities fell by 10.45% [5] Market Dynamics - The iPhone 16 Pro series has seen significant sales growth following a price reduction, with the domestic market share exceeding 21.5% [6][9] - The company has established a robust distribution network, serving over 2,700 Apple authorized stores and more than 9,000 clients for its Honor business [9] Strategic Initiatives - The company is actively developing new beverage brands and AI computing services, aiming for dual-driven growth through internal and external strategies [10][11] - A new subsidiary, Shenzhen Aishide Intelligent Computing Technology Co., has been established to focus on AI application systems and software development [11] Earnings Forecast - Revenue projections for 2025-2027 are 711.52 billion yuan, 782.67 billion yuan, and 853.12 billion yuan respectively, with corresponding EPS of 0.54, 0.66, and 0.71 yuan [12][14]

深圳市爱施德股份有限公司（以下简称"公司"）于 2025 年 5 月 19 日接到公司股东赣江 新区全球星投资管理有限公司（以下简称"全球星投资"）的通知，全球星投资将其持有的公 司部分股份进行了质押延期，具体事项如下： 证券代码：002416 证券简称：爱施德 公告编号：2025-021 深圳市爱施德股份有限公司 关于公司股东股份质押延期的公告 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。 注：上表中若出现合计数与各分项数值之和尾数不符的情况，为四舍五入所致。 | 股东 | 是否为控 股股东或 | 本次 质押延期 | 占其所 持股份 | 占公司 总股本 | 是 否 为 | 是否 为补 | | | 原质押 | | 延期后质 | | 质权 | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 第一大股 | | | | | | 质押起始日 | | | | | | | | | 名称 | 东及其一 | 数量 | 比例 ...

证券代码：002416 证券简称：爱施德 公告编号：2025-020 深圳市爱施德股份有限公司 2024年年度权益分派实施公告 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。 深圳市爱施德股份有限公司（以下简称"公司"）2024 年年度权益分派方案已获 2025 年 5 月 13 日召开的 2024 年年度股东大会审议通过，现将权益分派事宜公告如 下： 一、 股东大会审议通过的权益分派方案情况 1、2025 年 5 月 13 日，公司 2024 年年度股东大会审议通过了《2024 年度利润分配 预案》，具体为：以 2024 年 12 月 31 日的总股本 1,239,281,806 股为基数，向全体股东 每 10 股派发现金红利 5 元（含税），送红股 0 股（含税），不以公积金转增股本。若 在利润分配方案实施前公司总股本发生变化的，分配比例将按分派总额不变的原则相 应调整。 2、自利润分配方案披露至实施期间公司股本总额未发生变化。 3、本次实施的利润分配方案与股东大会审议通过的利润分配方案及其调整原则一 致。 4、本次利润分配方案实施距离 2024 年年度股 ...

深圳市福田区中心五路 18 号星河中心大厦 19 层 电话：0755-23993388 传真：0755-86186205 邮编：518048 国枫律股字[2025]C0033 号 致：深圳市爱施德股份有限公司（贵公司） 北京国枫（深圳）律师事务所（以下简称"本所"）接受贵公司的委托，指派律师 出席并见证贵公司 2024 年年度股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共 和国证券法》（以下简称《证券法》）、《上市公司股东大会规则》（以下简称《股东 大会规则》）、《律师事务所从事证券法律业务管理办法》（以下简称《证券法律业务管理 办法》）、《律师事务所证券法律业务执业规则（试行）》（以下简称《证券法律业务执业 规则》）等相关法律、行政法规、规章、规范性文件及《深圳市爱施德股份有限公司章 程》（以下简称《公司章程》）的规定，就本次会议的召集与召开程序、召集人资格、出 席会议人员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 1．本所律师仅就本次会议的召集与召开程序、召集人和出席现场会议人员资格、 ...

证券代码：002416 证券简称：爱施德 公告编号：2025-019 深圳市爱施德股份有限公司 2024年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。 特别提示： 1、本次股东大会没有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； 3、本公告中占公司有表决权股份总数的百分比例均保留4位小数，若其各分项数值 之和与合计数值存在尾差，均为四舍五入原因造成。 一、会议召开情况 1、会议召开时间： （1）现场会议召开时间为：2025年5月13日（星期二）下午14:00； （2）网络投票时间为：2025年5月13日，其中通过深圳证券交易所交易系统投票的 时间为：2025年5月13日上午9:15-9:25，9:30-11:30，下午13:00-15:00；通过深圳证券交 易所互联网投票系统投票的时间为：2025年5月13日上午09:15至下午15:00期间的任意 时间。 2、现场会议召开地点：深圳市南山区科发路 83 号南山金融大厦 18 层深圳市爱施 德股份有限公司 A 会议室。 3、表决方式：现场表决与网络投票相结 ...

Group 1: Company Strategy and Performance - In 2025, the company aims to implement a development strategy titled "Gathering Strengths to Lead the Tide, Riding the Wave to Compete" to enhance operational efficiency and expand into new markets [2] - In 2024, the company achieved a revenue of CNY 65.821 billion, with a total profit of CNY 870 million and a net profit of CNY 651 million, maintaining industry-leading profitability [3] - In Q1 2025, the company reported a revenue of CNY 12.737 billion and a net profit of CNY 142 million [4] Group 2: Financial Management and Cost Control - The company implemented strict cost control measures, resulting in a reduction of financial expenses by CNY 80.2518 million, a decrease of 51.72% [4] - Total liabilities decreased by 10.45%, and the asset-liability ratio fell from 48.70% to 45.55%, a decline of 3.15% [4] - The gross profit margin improved from 3.25% to 4.40% in 2024 [4] Group 3: Investment and Partnerships - The company established an industrial fund with ShenZhiCheng Investment to invest in quality enterprises in the smart terminal, AI, and low-altitude economy sectors [3] - The Shenzhen Aishide Smart City Industrial Investment Partnership has completed registration and is progressing with investment operations [4] - The company maintains a strategic partnership with Honor, focusing on enhancing brand value and market presence [6] Group 4: Market Position and Sales Performance - The company serves over 2,700 Apple authorized stores and has established 200 self-operated Coodoo Apple APR stores, leading the APR channel scale [6] - In 2024, the company achieved a communication product revenue of CNY 58.467 billion, with a gross margin increase of 1.54 percentage points to 3.82% [6] - The company’s market share for Honor in Hong Kong reached 17.1% in August 2024, ranking second in the market [8] Group 5: Digital Transformation and Innovation - The company leverages a digital distribution and retail model, enhancing operational efficiency through digitalization and smart management [8] - The company’s self-owned brands, including "Tea Xiaokai" and "UOIN," have seen significant sales growth, with "Tea Xiaokai" achieving over 125% year-on-year sales increase [8] - The company is expanding its instant retail business, achieving over 50% growth in online sales for Coodoo [9]