证券代码：002671 证券简称：龙泉股份 公告编号：2025-066 山东龙泉管业股份有限公司 2025 年第四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内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示: 1、本次股东大会未出现否决议案的情况； 2、本次股东大会未涉及变更以前股东大会决议的情况。 一、会议召开情况 1、会议召开时间 （1）现场会议召开时间：2025 年 9 月 15 日（星期一）下午 14:30 （2）网络投票时间：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 9 月 15 日上午 9:15 至 9:25、9:30 至 11:30，下午 13:00 至 15:00； 通过深圳证券交易所互联网投票系统（http://wltp.cninfo.com.cn）投票的具体时 间为：2025 年 9 月 15 日 9:15 至 2025 年 9 月 15 日 15:00 期间的任意时间。 2、会议召开地点：江苏省常州市新北区沿江东路 533 号龙泉股份会议室 3、会议召开方式：本次股东大会采取现场投票与网络投票相结合的方式。 公司将通过深圳证 ...

证券代码：002671 证券简称：龙泉股份 公告编号：2025-065 2、本激励计划的内幕信息知情人均已登记在《内幕信息知情人登记表》； 3、公司向中国证券登记结算有限责任公司深圳分公司就核查对象在自查期 间买卖公司股票的情况进行了查询确认。中国证券登记结算有限责任公司深圳分 公司出具了《信息披露义务人持股及股份变更查询证明》和《股东股份变更明细 清单》。 山东龙泉管业股份有限公司 关于 2025 年限制性股票激励计划内幕信息知情人及激励对象 买卖公司股票情况的自查报告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 山东龙泉管业股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日召开 第六届董事会第二次会议、第六届监事会第二次会议审议通过了《2025 年限制 性股票激励计划（草案）》（以下简称"本激励计划"）及其摘要，并于 2025 年 8 月 29 日在指定的信息披露媒体上进行了披露。 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）《深圳 证券交易所上市公司自律监管指南第 1 号——业务办理》等有关法律、法规及规 范性文件和《 ...

北京市嘉源律师事务所 关于山东龙泉管业股份有限公司 2025 年第四次临时股东大会的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 致：山东龙泉管业股份有限公司 北京市嘉源律师事务所 关于山东龙泉管业股份有限公司 2025年第四次临时股东大会的 法律意见书 嘉源(2025)-04-676 北京市嘉源律师事务所（以下简称"本所"）接受山东龙泉管业股份有限公 司（以下简称"公司"）委托，指派本所律师出席公司2025年第四次临时股东大 会（以下简称"本次股东大会"），并进行了必要的验证工作。本所指派本所律 师对本次股东大会进行见证，并根据《中华人民共和国公司法》《上市公司股东 会规则》以及《山东龙泉管业股份有限公司章程》（以下简称"《公司章程》"）、 股东大会议事规则的规定对本次股东大会的召集与召开程序、出席会议人员的资 格、表决程序等事项出具本法律意见书。 为出具本法律意见书，本所指派律师现场见证了本次股东大会，并查阅了公 司提供的与本次股东大会有关 ...

Core Viewpoint - Longquan Co., Ltd. held an online performance briefing for the first half of 2025, discussing business development, performance drivers, and raw material strategies with investors [1][2]. Group 1: Performance and Financials - The company reported a revenue growth of 47.45% and a net profit increase of 126%, primarily driven by stable shipments from large PCCP projects and the consolidation of Nantong Electric Valve Co., Ltd. [2] - The company plans to enhance the revenue share and quality of metal fittings and industrial valves to improve its performance fundamentals [2]. Group 2: Business Strategy and Operations - The PCCP business is influenced by large water conservancy projects and is subject to policy-driven cyclical demand. The company adopts a "regional + project-based" operational model to mitigate adverse impacts from policy fluctuations [2]. - Following the acquisition of Nantong Valve, the company aims to integrate its PCCP, metal fittings, and valve businesses into a cohesive solution rather than operating independently [2]. Group 3: Raw Material Management - Steel and cement account for over 60% of the company's costs. The company has not engaged in hedging but manages price fluctuations through centralized procurement and a raw material price adjustment mechanism [2]. Group 4: Market Challenges and Responses - Revenue declines of 49.47% and 49.52% were noted in the North China and Central China regions, respectively, due to the completion of major projects. The company plans to deepen market exploration to secure new orders [2]. - The company is committed to strict compliance with environmental regulations following its subsidiary's inclusion in the mandatory environmental disclosure list [2]. Group 5: Future Outlook and Shareholder Returns - The company aims to focus on its core PCCP business while expanding its metal products segment and actively pursuing an overall transformation strategy [2]. - Plans for shareholder returns include enhancing market recognition through core business focus, technological innovation, and resource integration, with intentions to implement cash dividends as soon as feasible [2].

Group 1: Financial Performance - Revenue increased by 47.45% and net profit grew by 126%, primarily driven by stable shipments of large PCCP projects and the acquisition of Nantong Valve Co., Ltd. [1][2] - The company has an unfulfilled order backlog of 1.926 billion, which is three times the half-year revenue [5][6] Group 2: Business Strategy - The company is focusing on the core PCCP business and aims to improve the revenue share and quality of metal fittings and industrial valves to enhance performance [2][4] - Future resource allocation will prioritize PCCP for optimization and metal products for expansion, with an emphasis on overall transformation strategy [4][6] Group 3: Market Challenges - Revenue in North and Central China declined by approximately 49.47% and 49.52% respectively, mainly due to the completion of major projects [2][3] - The company has not yet implemented hedging mechanisms against raw material price fluctuations, which account for over 60% of costs [1][2] Group 4: Environmental and Regulatory Compliance - The subsidiary Xinfeng Pipe Industry is included in the environmental information disclosure list due to mandatory clean production audits, with no current risk of environmental penalties [3][4] - The company is committed to adhering to environmental regulations and fulfilling its responsibilities [3][4] Group 5: Investor Relations and Stock Performance - The company plans to improve operational performance and implement cash dividends to enhance shareholder value and stabilize stock prices [4][5] - The stock price has been stagnant for 7-8 years, influenced by market policies, industry developments, and market sentiment [4][5]

监事会关于公司 2025 年限制性股票激励计划激励对象名单的 证券代码：002671 证券简称：龙泉股份 公告编号：2025-064 核查意见及公示情况说明 山东龙泉管业股份有限公司 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 2025 年 8 月 28 日，山东龙泉管业股份有限公司（以下简称"公司"）召开 第六届董事会第二次会议和第六届监事会第二次会议，审议通过了《<2025 年限 制性股票激励计划（草案）>及其摘要》并提交公司股东大会审议，根据《上市 公司股权激励管理办法》（以下简称"《管理办法》"）等法律、法规及规范性文件 的相关规定，公司对激励对象名单在公司内部进行了公示。公司监事会结合公示 情况对激励对象名单进行了核查，相关公示情况及核查意见如下： 一、公示情况及核查方式 1、公示情况 公司于 2025 年 8 月 29 日在巨潮资讯网（www.cninfo.com.cn）披露了《山东 龙泉管业股份有限公司 2025 年限制性股票激励计划（草案）》（以下简称"《激励 计划（草案）》"）及其摘要、《2025 年限制性股票激励计划激励对象名单》等文 ...

Market Overview - On September 1, the cement sector rose by 0.55% compared to the previous trading day, with Huaxin Cement leading the gains [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Individual Stock Performance - Huaxin Cement (600801) closed at 16.28, with a gain of 3.43% and a trading volume of 437,100 shares, amounting to a transaction value of 709 million yuan [1] - Other notable performers included: - Tapai Group (002233) with a closing price of 9.17, up 2.69% [1] - Longquan Co. (002671) at 4.96, up 1.85% [1] - Qingsong Jianhua (600425) at 4.64, up 1.53% [1] Fund Flow Analysis - The cement sector experienced a net outflow of 191 million yuan from institutional investors, while retail investors saw a net inflow of 226 million yuan [2] - The detailed fund flow for key stocks showed: - Huaxin Cement had a net outflow of 27.14 million yuan from institutional investors [3] - Tapai Group saw a net inflow of 17.94 million yuan from institutional investors [3] - Tian Shan Co. (000877) had a net inflow of 15.66 million yuan from institutional investors [3]

Core Insights - Longquan Co., Ltd. reported a significant increase in revenue and net profit for the first half of 2025, with total revenue reaching 618 million yuan, up 47.45% year-on-year, and net profit attributable to shareholders at 37.36 million yuan, up 126.04% [1] Financial Performance - Total revenue for Q2 2025 was 440 million yuan, reflecting a year-on-year increase of 52.73% - Net profit for Q2 2025 was 52.05 million yuan, showing a year-on-year increase of 109.67% - Gross margin improved to 29.61%, up 10.85% year-on-year, while net margin increased to 6.27%, up 59.46% year-on-year [1] Cost Management - Total selling, administrative, and financial expenses amounted to 103 million yuan, accounting for 16.73% of revenue, a decrease of 15.01% year-on-year [1] Key Financial Ratios - Earnings per share (EPS) increased to 0.07 yuan, up 129.25% year-on-year - Operating cash flow per share reached 0.24 yuan, a significant increase of 558.46% year-on-year - The company's return on invested capital (ROIC) was reported at 3.6% for the previous year, indicating a historically weak capital return [1] Debt and Cash Flow Concerns - The company has a cash flow ratio (cash and cash equivalents to current liabilities) of 61.03%, and the average operating cash flow to current liabilities ratio over the past three years is 12.35% - The interest-bearing debt ratio has reached 24.12%, and accounts receivable to profit ratio stands at 1316.14% [2]

Group 1 - The construction materials sector opened high, with international composite materials rising over 6% to reach a new high [1] - China Jushi's net profit for the first half of the year was 1.687 billion yuan, representing a year-on-year increase of 75.51% [1] - Other companies such as China National Materials, Changhai Co., Shandong Fiberglass, Longquan Co., and Zaiseng Technology also experienced gains [1]

Group 1 - The company reported a total operating revenue of 618 million yuan, ranking 14th among disclosed peers [1] - The net profit attributable to shareholders was 37.36 million yuan [1] - The net cash inflow from operating activities was 136 million yuan, ranking 10th among disclosed peers [1] Group 2 - The latest debt-to-asset ratio is 45.04%, an increase of 1.84 percentage points from the previous quarter and 5.19 percentage points from the same period last year [3] - The latest gross profit margin is 29.61% [3] - The latest return on equity (ROE) is 2.21% [3] - The diluted earnings per share are 0.07 yuan [3] - The latest total asset turnover ratio is 0.20 times [3] - The latest inventory turnover ratio is 1.64 times, ranking 13th among disclosed peers [3]