西子洁能（002534）公告，2025年第一季度营收为12.13亿元，同比增长5.32%；净利润为5365.45万 元，同比下降79.18%。 ...

Revenue and Profit - The company's revenue for Q1 2025 was ¥1,212,820,875.43, representing a 5.32% increase compared to ¥1,151,530,624.66 in the same period last year[4] - Net profit attributable to shareholders decreased by 79.18% to ¥53,654,471.82 from ¥257,671,454.04 year-on-year[4] - Total operating revenue for the current period reached ¥1,212,820,875.43, an increase of 5.8% compared to ¥1,151,530,624.66 in the previous period[21] - Net profit for the current period was ¥69,112,419.27, a decrease of 74.3% from ¥268,048,150.12 in the previous period[22] - Total comprehensive income for the period was CNY 69,062,614.69, compared to CNY 266,753,920.64 in the previous period[23] - Basic and diluted earnings per share were both CNY 0.07, down from CNY 0.35 in the previous period[23] Cash Flow - The net cash flow from operating activities improved by 51.75%, reaching -¥175,300,112.22 compared to -¥363,316,646.08 in the previous year[4] - Cash inflow from operating activities totaled CNY 1,168,284,520.74, while cash outflow was CNY 1,343,584,632.96[24] - Cash flow from investing activities generated a net inflow of CNY 182,362,584.10, compared to CNY 113,500,736.27 in the previous period[24] - Cash flow from financing activities resulted in a net outflow of CNY 171,793,538.16, worsening from negative CNY 90,038,228.73 in the previous period[24] - The ending balance of cash and cash equivalents was CNY 2,677,854,409.12, down from CNY 3,231,844,579.38 in the previous period[24] - The company received CNY 23,316,989.58 in tax refunds, an increase from CNY 13,820,063.29 in the previous period[24] - The company paid CNY 214,799,792.87 to employees, an increase from CNY 201,626,472.79 in the previous period[24] - The company did not report any cash inflow from investment recoveries this period, compared to CNY 193,481,404.00 in the previous period[24] Assets and Liabilities - The company's total assets decreased by 2.83% to ¥14,588,036,904.33 from ¥15,013,267,688.83 at the end of the previous year[5] - Total liabilities decreased to ¥9,845,030,731.09 from ¥10,301,414,837.01, a reduction of 4.4%[20] - The company reported a total current assets of RMB 9,624,533,334.35, a decrease of 4.13% from RMB 10,038,240,568.52 at the beginning of the period[17] - Cash and cash equivalents decreased to RMB 3,103,794,152.12 from RMB 3,529,696,399.14, reflecting a decline of 12.08%[17] - Accounts receivable amounted to RMB 1,640,850,406.69, down from RMB 1,828,639,997.29, indicating a decrease of 10.28%[18] - The company has a total non-current assets of RMB 4,679,080,000.00, with fixed assets valued at RMB 2,198,672,941.22[18] - The total equity attributable to shareholders increased to ¥4,253,680,639.07 from ¥4,219,564,999.83, a growth of 0.8%[20] Investment and Shareholder Information - The company’s investment income plummeted by 97.24% to ¥7,877,409.39 from ¥285,169,812.97 in the previous year, primarily due to the previous year's large investment gains from the transfer of equity[10] - The company’s long-term equity investments increased slightly to RMB 454,331,749.41 from RMB 447,902,133.49, reflecting a growth of 1.03%[18] - The largest shareholder, Xizi Elevator Group Co., Ltd., holds 39.01% of the shares, totaling 288,349,956 shares[12] - The top 10 unrestricted shareholders hold a total of 581,000,000 shares, with Xizi Elevator Group Co., Ltd. being the largest shareholder at 288,349,956 shares[14] Operational Activities - The company has ongoing projects in technology development and market expansion, although specific figures were not disclosed[15] - The company plans to relocate part of its subsidiary's land and buildings, with a total compensation amounting to RMB 274,100,049[15] - Research and development expenses were ¥91,571,704.54, down from ¥101,095,964.93, indicating a reduction of 9.5%[21]

根据《公司章程》的相关规定，公司董事会由 9 名董事组成，其中现有独立 董事 3 名。刘国健先生的辞职将导致公司独立董事人数少于董事会成员的三分 之一。根据《公司法》《上市公司独立董事管理办法》《深圳证券交易所上市公司 自律监管指引第 1 号—主板上市公司规范运作》和《公司章程》等有关规定， 刘国健先生的辞职报告将在公司股东大会选举产生新任独立董事后方能生效。在 新任独立董事就任前，刘国健先生仍将继续履行公司独立董事及其在各专门委员 会中的职责。公司将按照相关规定尽快完成独立董事的补选工作。 截至本公告披露日，刘国健先生未持有公司股份，也不存在按照相关监管规 定应履行而未履行的承诺。刘国健先生在担任公司独立董事期间，公正独立、勤 勉尽责，充分发挥自身专业能力，为公司的规范运作和高质量发展发挥了积极作 用。公司及董事会对刘国健先生任职期间所做的贡献表示衷心的感谢！ 特此公告。 1 | 证券代码：002534 | 证券简称：西子洁能 | 编号：2025－039 | | --- | --- | --- | | 债券代码：127052 | 债券简称：西子转债 | | 西子清洁能源装备制造股份有限公司 关于公司独立董事 ...

Core Insights - As of April 21, 2024, 2,246 companies have released their annual reports, with 1,197 reporting a year-on-year increase in net profit, while 1,049 reported a decline [1] - A total of 1,341 companies saw an increase in operating revenue, whereas 904 experienced a decrease [1] - Companies that reported simultaneous growth in both net profit and operating revenue include 940 firms, while 648 companies saw declines in both metrics [1] - Notably, 234 companies achieved a net profit growth rate exceeding 100%, with Zhengdan Co., Ltd. leading at an impressive 11,949.39% increase [1] Company Performance Summary - Zhengdan Co., Ltd. (300641) reported earnings per share of 2.35 yuan, with a net profit of 1,189.89 million yuan, reflecting a year-on-year increase of 11,949.39%, and operating revenue of 348.02 million yuan, up 126.31% [1] - Guangxi Energy (600310) reported earnings per share of 0.043 yuan, with a net profit of 62.99 million yuan, a significant increase of 3,704.04%, but a decline in operating revenue by 76.48% to 393.16 million yuan [1] - Siwei (688213) achieved earnings per share of 0.98 yuan, with a net profit of 39.27 million yuan, marking a 2,662.76% increase, and operating revenue of 596.81 million yuan, up 108.87% [1] - Other notable performers include Andis (600299) with a net profit of 120.43 million yuan (up 2,208.66%) and operating revenue of 1,553.43 million yuan (up 17.83%) [1] - Companies like Huabei Pharmaceutical (600812) and Jiangsu Suo (600746) also reported significant changes in their financial metrics, with varying trends in net profit and operating revenue [1][2]

Core Viewpoint - The boiler and prime mover manufacturing industry plays a crucial role in the national economy, driven by the rapid development of China's economy and increasing industrialization, leading to a significant growth in market demand and a projected market size increase from 517.48 billion yuan in 2015 to 711.38 billion yuan in 2024, with a compound annual growth rate of 3.6% [1][15]. Industry Overview - The boiler and prime mover manufacturing industry includes the production of boilers and various prime movers, categorized into boiler and auxiliary equipment manufacturing, internal combustion engine and parts manufacturing, steam turbine and auxiliary machine manufacturing, water turbine and auxiliary machine manufacturing, and other prime mover manufacturing [4][5]. - The industry is characterized by its technical complexity, market adaptability, and refined management features, indicating a significant development potential compared to developed countries, where China's market share is currently less than 10% [1][15]. Market Size and Growth - The market size of China's boiler and prime mover manufacturing is expected to grow from 517.48 billion yuan in 2015 to 711.38 billion yuan in 2024, reflecting a compound annual growth rate of 3.6% [1][15]. - The global boiler and prime mover manufacturing market is projected to increase from approximately 910.52 billion USD in 2015 to about 1,156.45 billion USD in 2024 [14]. Key Products and Structure - The main products in the industry include steam turbines and auxiliary machines, water turbines and auxiliary machines, internal combustion engines and parts, boilers and auxiliary equipment, with internal combustion engines and parts accounting for approximately 44.08% of the market share [17]. - The projected market sizes for 2024 are: steam turbines and auxiliary machines at 46.38 billion yuan, water turbines and auxiliary machines at 11.4 billion yuan, internal combustion engines and parts at 313.55 billion yuan, and boilers and auxiliary equipment at 266.49 billion yuan [17]. Policy Environment - The boiler manufacturing industry follows a market-oriented development model, with the National Development and Reform Commission responsible for policy formulation and project approval [6]. - Recent policies aim to enhance energy efficiency and promote the use of advanced energy-saving products, including industrial boilers, to support energy conservation and carbon reduction efforts [6][7]. Industry Chain - The industry chain includes upstream raw materials (steel, non-ferrous metals, etc.), core components (burners, heat exchange tubes, etc.), and downstream application sectors such as textiles, energy, metallurgy, and chemicals [8][10]. Competitive Landscape - The industry is characterized by a competitive landscape where state-owned enterprises dominate the high-end market, while private enterprises focus on niche segments. Key players include Dongfang Boiler, Harbin Boiler, Shanghai Electric, and others [20][21]. - Companies are increasingly extending their value chains into new energy and environmental sectors, driving the industry towards high-efficiency and clean development [20]. Future Trends - The industry is expected to accelerate towards high-end and intelligent development, with increasing demand for efficient and clean energy equipment driven by carbon neutrality goals [26][27]. - The transition to green and low-carbon technologies will lead to a decline in traditional coal-fired boiler markets, with emerging fields such as hydrogen boilers and carbon capture technologies gaining traction [27][28].

Core Viewpoint - The company has shown significant improvement in its financial performance, particularly in net profit, while also focusing on strategic growth areas such as internationalization and renewable energy [2][3]. Financial Performance - In 2024, the company achieved operating revenue of 6.437 billion yuan, a decrease of 20.33% year-on-year [2]. - The net profit attributable to shareholders reached 440 million yuan, an increase of 705.74% compared to the previous year [2][5]. - The net profit after deducting non-recurring gains and losses was 144 million yuan, reflecting a substantial growth of 1,436.69% year-on-year [2]. Order and Market Activity - In the first quarter of 2025, the company secured new orders totaling approximately 1.57 billion yuan, representing a year-on-year growth of 16.8% [2][5]. Strategic Initiatives - The company plans to enhance its service and operational models in overseas markets, transitioning from a single equipment export model to an integrated service model that includes "equipment + engineering + operation and maintenance" [3]. - The company aims to leverage its core technology in molten salt energy storage to expand into more energy utilization scenarios and demonstration projects [3]. - Continuous efforts will be made to explore the market potential in spare parts modification and to drive the value release of existing assets [3]. Share Buyback Activity - As of March 31, 2025, the company has repurchased a total of 2,817,300 shares, accounting for 0.38% of the total share capital, with a total transaction amount of approximately 34.99 million yuan [3][5].

Financial Performance - In 2024, the company achieved a net profit of 440 million CNY, a significant increase of 705.74% compared to the previous year [3] - The non-recurring net profit reached 144 million CNY, marking a growth of 1436.69% year-on-year [3] - Total revenue for 2024 was 6.437 billion CNY, a decrease of 20.33% from the previous year [3] Order and Market Strategy - In Q1 2025, the company secured new orders totaling approximately 1.57 billion CNY, reflecting a year-on-year growth of 16.8% [13] - The company plans to focus on "internationalization, new energy, and new services" as its three strategic pillars [3] - The company aims to transition from single equipment exports to integrated services including "equipment + engineering + operation and maintenance" [3] Stock Buyback and Market Management - As of March 31, 2025, the company repurchased 2,817,300 shares, accounting for 0.38% of the total share capital [3] - The total amount spent on the buyback was approximately 34.99 million CNY [3] - The company emphasizes value management through operational efficiency, annual cash dividends, and enhanced investor relations [19] Inventory and Cost Management - The company's inventory at the end of 2024 was 1.55 billion CNY, an increase from 1.399 billion CNY at the beginning of the year [6] - Cost control measures have led to an improvement in gross margin and a reduction in selling and administrative expenses [21] Research and Development - R&D expenses increased by 19.39% in 2024, totaling 392 million CNY, focusing on traditional energy efficiency and new energy technology [7] - The company aims to enhance its technological capabilities in energy utilization and renewable energy generation [7] Industry Outlook - The company anticipates growth opportunities in the international market and service sectors, despite a slowdown in traditional business growth [14] - The dual carbon policy is expected to encourage demand for the company's products, such as waste heat boilers and molten salt energy storage [5] Debt and Financial Health - The company's debt-to-asset ratio for 2024 was 68.62%, a decrease of 4.1% from the previous year, indicating improved financial health [18]

西子清洁能源装备制造股份有限公司（以下简称"公司"）2025年第一季度 订单数据如下： | 按产品分类 | 2025年第一季度新增 | | 本年累计新增订单 | 截至2025年3月31日 | | --- | --- | --- | --- | --- | | | 订单 | | | 在手订单 | | 余热锅炉 | | 49,105 | 49,105 | 209,242 | | 清洁环保能源装备 | | 10,486 | 10,486 | 124,849 | | 解决方案 | | 84,409 | 84,409 | 288,862 | | 备件及服务 | | 12,978 | 12,978 | 29,784 | | 合计 | | 156,978 | 156,978 | 652,737 | 一、2025年第一季度订单情况 | 证券代码：002534 | 证券简称：西子洁能 | 编号：2025－038 | | --- | --- | --- | | 债券代码：127052 | 债券简称：西子转债 | | 西子清洁能源装备制造股份有限公司 关于 2025 年第一季度订单数据的自愿性信息披露公告 本公司及董事会全体成员保 ...

Core Viewpoint - Multiple listed companies reported that the recent adjustments to U.S. tariffs have limited impact on their operations, with many having minimal direct exposure to the U.S. market [1][2][3][4][5]. Company Summaries - **Lizhong Group (SZ300428)**: The company focuses on functional intermediate alloy new materials, recycled aluminum alloy materials, and aluminum alloy wheels. Its products related to recycled aluminum alloy materials have little to no exports to the U.S., thus not affected by the tariff changes. The company is monitoring policy changes and is proactively adjusting its supply chain and customer negotiations [1]. - **Shenghong Co., Ltd. (SZ300693)**: The company’s direct exports to the U.S. amount to approximately 56 million yuan, representing only 1% to 2% of its total revenue. It has prepared for uncertainties by collaborating with a Malaysian factory for local production, expected to be ready by May 2025 [1]. - **Hudian Co., Ltd. (SZ002463)**: The company’s direct exports to the U.S. account for less than 5% of its revenue, with most products exported to Southeast Asia. It is closely monitoring trade disputes and communicating with customers to find solutions [2]. - **Xizi Clean Energy (SZ002534)**: The company has a small proportion of business related to the U.S. market, focusing mainly on Southeast Asia, the Middle East, and Africa. Its main operations are not significantly impacted by U.S. tariffs [2]. - **Hengshuai Co., Ltd. (SZ300969)**: Direct sales to the U.S. represent about 2.7% of the company’s overall business. The company uses EXW and FOB pricing methods, minimizing the impact of tariff increases. Future strategies will focus on optimizing capacity and development plans [3]. - **Jinfu Technology (SZ003018)**: The company stated that tariff issues will not significantly affect its existing overseas sales regions [5]. - **Weixing Co., Ltd. (SZ002003)**: The company’s international business is primarily in Bangladesh and Vietnam, with a very low percentage of direct exports to the U.S. [5]. - **Hailide (SZ002206)**: The company has established a multi-dimensional response mechanism, including optimizing its production structure in Vietnam and enhancing customer price negotiation strategies [5]. - **Guansheng Co., Ltd. (SH605088)**: The company does not heavily rely on the U.S. market, indicating that the tariff increases will have limited long-term effects [5].

西子清洁能源装备制造股份有限公司（以下简称"公司"）将于 2025 年 4 月 15 日（星期二） 下午 15:00-17:00 同花顺路演平台采用网络远程方式举行 2024 年度网上业绩说明会，投资者可通过以下方式参与，具体方式如下： 时间：2025 年 4 月 15 日（星期二）下午 15:00-17:00； 证券代码：002534 证券简称：西子洁能 编号：2025－037 债券代码：127052 债券简称：西子转债 西子清洁能源装备制造股份有限公司 关于举行 2024 年度网上业绩说明会的公告 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。 2）使用同花顺手机炒股软件扫描下方二维码进入路演直播间进行提问互动 交流。 2、出席本次说明会的人员有： 公司董事长王水福、常务副总经理（代行总经理职责）刘慧明、独立董事傅 怀全、财务负责人胡世华、董事会秘书鲍瑾。 3、为充分尊重投资者、提升交流的针对性，现就公司2024年度业绩说明会 提前向投资者公开征集问题，广泛听取投资者的意见和建议。 1 （路演直播间二维码） 投资者可于 2025 年 4 月 14 日 （ ...