Core Viewpoint - The company is focused on increasing research and development (R&D) investment to enhance technological innovation and product upgrades, with a current R&D expenditure of 47% of revenue in 2024 [1][4]. Group 1: Financial Performance - In Q1 2025, the company reported revenue of 53.946 million yuan, a year-on-year increase of 70.28%, but a net loss attributable to shareholders of 16.391 million yuan, a decline of 691.13% [9]. - For the fiscal year 2024, the company achieved total revenue of 382.688 million yuan, a 13.62% increase year-on-year, with main business revenue of 374.419 million yuan, up 14.44% [7]. - The company reported a total profit of -5.6644 million yuan for 2024, an increase of 13.45% year-on-year, and a net profit attributable to shareholders of -1.8044 million yuan, an increase of 1.12% [7]. Group 2: Business Strategy and Market Expansion - The company plans to strengthen its core business in coal machinery manufacturing, focusing on innovation and management efficiency to promote healthy development [2]. - The company aims to maintain and expand its existing markets while actively developing new markets and strategic partnerships with quality clients [1][2]. - The company is exploring new business growth points to enhance profitability and market competitiveness [7]. Group 3: R&D and Product Development - The company is committed to a tiered R&D model, focusing on producing, improving, and developing new products to maintain technological advancement [1]. - The company will continue to increase R&D investment to build core competitive advantages and provide strong technical support for future development [1]. Group 4: Market Conditions and Risks - The company has no direct exports to the U.S., and thus, the recent U.S. tariffs have no immediate impact on its operations [3]. - The company is monitoring international trade policy changes closely [3]. - The company currently does not face any risk of being classified as ST (special treatment) as its operations are normal [8].

Group 1: Report Summary - Report industry: Special Equipment [2] - Research target: Jikai Co., Ltd. [16] - Reception time: April 28, 2025 [16] - Company representatives: Chairman Feng Fan, Independent Director Xu Chaozhi, Financial Officer Qiao Guicai, and Board Secretary Tian Jiying [16] Group 2: Research Institutions - Types of institutions: Investors participating in Jikai Co., Ltd.'s 2024 annual online performance briefing via Panorama Network [19] Group 3: Main Content R & D Investment - In 2024, the R & D investment accounted for 5.47% of the operating income. The company will continue to increase R & D investment to build core competitiveness [23] Business Expansion - The company will maintain and consolidate old markets, develop new markets, expand cooperation with high - quality new customers, improve sales models, and strengthen international market research [24] Subsidiary Performance - With the increasing demand for intelligent mining equipment, the company will focus on the coal machinery manufacturing business, maintain stable development, and improve management efficiency [25] Shareholder Information - As of April 18, 2025, the number of shareholders was 26,207 [25] Tariff Impact - From 2024 to the end of the first quarter of 2025, the company had no direct exports to the US, so the US tariff increase had no impact on its production and operation [26] Profit Improvement - The company will expand the market, promote products, accelerate new product R & D, implement cost - reduction and efficiency - improvement measures, and explore new business growth points [27][29] Repurchase Plan - As of now, the company has no share repurchase plan [27] Q1 2025 Financials - In Q1 2025, the company achieved operating income of 53.946 million yuan and a net profit attributable to shareholders of - 16.3909 million yuan [28] 2024 Financials - In 2024, the company's operating income was 382.6878 million yuan, a year - on - year increase of 13.62%. The main business income was 374.419 million yuan, a year - on - year increase of 14.44%. The total profit was - 5.6644 million yuan, a year - on - year increase of 13.45%. The net profit attributable to shareholders was - 1.8044 million yuan, a year - on - year increase of 1.12% [29] ST Risk - The company's production and operation are normal, and there is no risk of being labeled as ST [30] Industry Outlook - Refer to the "Company's Future Development Prospects" section in the 2024 annual report [32]

Group 1: Financial Performance - In Q1 2025, the company achieved revenue of 53.946 million yuan, with a net profit attributable to shareholders of -16.3909 million yuan [6] - For the year 2024, the company reported total revenue of 382.6878 million yuan, a year-on-year increase of 13.62%, with main business revenue increasing by 14.44% to 374.4190 million yuan [10] - The total profit for 2024 was -5.6644 million yuan, showing a year-on-year improvement of 13.45%, while the net profit attributable to shareholders was -1.8044 million yuan, an increase of 1.12% year-on-year [10] Group 2: Research and Development - The company's R&D investment accounted for 5.47% of its revenue in 2024, with plans to further increase this investment to enhance technological innovation and product upgrades [2] - The company employs a tiered R&D model focusing on production, improvement, development, and reserve of new products to maintain advanced product development [2] Group 3: Market Expansion and Strategy - The company aims to consolidate existing markets while accelerating the development of new markets and strategic partnerships with quality new clients [3] - There is a focus on enhancing international market research and expanding export business to ensure stable growth [3] - The company is committed to improving market share through increased product promotion and diversification of product sales [7] Group 4: Shareholder Information - As of April 18, 2025, the number of shareholders was 26,207 [4] - Currently, there are no plans for share repurchase, but the company will comply with disclosure obligations if such plans arise in the future [5] Group 5: Impact of External Factors - The company has no direct exports to the U.S., thus the recent tariff increases have no immediate impact on its operations [4] - The company is monitoring international trade policy changes closely [4] Group 6: Industry Outlook - The company is optimistic about the future demand for intelligent mining equipment and systems due to increasing efficiency and safety requirements in coal mining [3] - The overall industry performance data is currently unknown, but the company remains focused on maintaining normal operations without ST risk warnings [8]

Core Viewpoint - Jikai Co., Ltd. reported a steady growth in revenue for the year 2024, with total revenue reaching 383 million yuan, a year-on-year increase of 13.62% [1] Group 1: Financial Performance - For the year 2024, Jikai Co., Ltd. achieved operating income of 383 million yuan, with a main business income of 374 million yuan, reflecting a growth of 14.44% [1] - The company's transportation equipment contributed 264 million yuan to revenue, an increase of 11.38% year-on-year [1] - Safety drilling rigs and support tools recorded revenues of 76 million yuan and 27 million yuan, respectively, with growth rates of 51.60% and 63.28% compared to 2023 [1] Group 2: Industry Position and Development - Jikai Co., Ltd. is recognized as a national-level specialized and innovative "little giant" enterprise, focusing on research and development in the coal mining machinery sector [2] - The company has established a national-level technology cooperation base and holds over 170 proprietary patents, exporting products to major coal-producing countries [2] - The coal mining machinery industry is crucial for the healthy development of the coal industry, supporting structural adjustments and upgrades [1][2] Group 3: Technological Innovation - Jikai Co., Ltd. is increasing its R&D investment, with total R&D expenses reaching 20.18 million yuan, a 9.59% increase from the previous year [2] - The company has developed advanced products such as dual-arm and single-arm anchor drilling rigs, improving support efficiency by 30% and streamlining the anchoring process [2][4] - The company is also focusing on intelligent drilling solutions, including AI-based deep hole drilling rigs, enhancing operational efficiency and safety [3] Group 4: Market Strategy - Jikai Co., Ltd. aims to maintain and strengthen existing markets while actively developing new markets and strategic partnerships with quality clients [3] - The company plans to enhance its international market research efforts to stabilize and grow its export business [3][4] - The company is committed to a forward-looking product development strategy, ensuring technological advancement and core competitive advantages [4]

Group 1 - The current market is experiencing frequent fluctuations, with a significant drop on April 7, followed by a gradual stabilization. Many investors perceive a lack of investment opportunities, but this may not be the case [1] - Investors are focusing on the upcoming tariff negotiations, with a notable shift in the global perception of the U.S. under Trump's administration. The U.S. is seen as less dominant compared to 2018, allowing China and other countries to respond more assertively to tariffs [2] - Domestic policies are responding promptly to stabilize the market, with initiatives from the Central Huijin and other funds to inject vitality into the stock market. The emphasis on stabilizing the stock market over the real estate market indicates the government's commitment [2] Group 2 - Historical context shows that similar market conditions occurred on September 24 last year, where many investors left the market during a downturn, only to be surprised by subsequent gains. This highlights the importance of understanding institutional investment movements [3] - Advanced data analysis tools are now available to track institutional trading activities, allowing for better insights into market dynamics. These tools can capture and analyze trading data to identify unusual patterns [3][5] - The "institutional inventory" data indicates the level of institutional participation in trading. A longer duration of active institutional inventory suggests greater confidence in the stock's future performance [5][7] Group 3 - Currently, there are fewer than a thousand stocks with institutional inventory, but over 700 stocks have shown institutional inventory for multiple days. This indicates a growing interest from institutional investors [9] - The number of stocks with 4-5 days of institutional inventory has reached a recent high, suggesting potential investment opportunities that may not be immediately apparent to retail investors [9]

Revenue and Profit - The company achieved total operating revenue of 53.946 million yuan in Q1 2025, representing a year-on-year increase of 70.28%, indicating progress in business expansion [1] - However, the net profit attributable to the parent company recorded a loss of 16.3909 million yuan, a year-on-year decline of 691.13%, while the non-recurring net profit was -18.581 million yuan, an increase of 9.99% year-on-year, reflecting a lack of improvement in profitability despite revenue growth [1] Gross Margin and Net Margin - The gross margin was 20.62%, an increase of 39.82% year-on-year, showing improvement in cost control [2] - Conversely, the net margin was -30.23%, a decrease of 495.57% year-on-year, indicating poor profitability after all expenses are deducted [2] Expense Control - Total selling, administrative, and financial expenses amounted to 24.3743 million yuan, accounting for 45.18% of revenue, a year-on-year decrease of 28.89%, although the expense ratio remains high and requires further optimization [3] Cash Flow and Assets Liabilities - The operating cash flow per share was -0.13 yuan, a year-on-year decrease of 197.75%, indicating significant cash outflow pressure from operating activities [4] - Additionally, accounts receivable reached 287 million yuan, representing 75.02% of the latest annual revenue, which may adversely affect future cash flow [4] Key Financial Indicators - The net asset per share was 2.58 yuan, a year-on-year decrease of 2.22% [5] - Earnings per share were -0.05 yuan, a year-on-year decrease of 700.00% [5] - Cash and cash equivalents amounted to 96.6643 million yuan, a year-on-year increase of 157.70% [5] - Interest-bearing liabilities were 110 million yuan, a year-on-year increase of 7.20% [5]

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关于续聘会计师事务所的公告 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。 特别提示：本次续聘会计师事务所符合财政部、国务院国资委、证监会印发 的《国有企业、上市公司选聘会计师事务所管理办法》（财会〔2023〕4号）的 规定。 冀凯装备制造股份有限公司（以下简称"公司"）第五届董事会第七次会议 审议通过了《关于续聘会计师事务所的议案》，拟续聘中兴财光华会计师事务所 （特殊普通合伙）（以下简称"事务所"）为公司2025年度财务审计机构和内部 控制审计机构，上述事项尚需提交公司股东大会审议。现将相关事宜公告如下： 证券代码：002691 证券简称：冀凯股份 公告编号：2025-015 冀凯装备制造股份有限公司 一、续聘会计师事务所事项的情况说明 中兴财光华会计师事务所（特殊普通合伙）具备从事证券、期货相关业务的 执业资格。该所担任公司2024年度审计机构期间，严格遵循《中国注册会计师职 业道德守则》等相关规定，坚持独立、客观、公正的审计准则，公允合理地发表 了独立审计意见，较好地履行了双方签订的《审计业务约定书》所规定的责任和 义务，尽职尽责并如期完成了2024年 ...

证券代码：002691 证券简称：冀凯股份 公告编号：2025-013 冀凯装备制造股份有限公司 关于会计政策变更的公告 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。 本次会计政策变更前，公司按照财政部发布的《企业会计准则—基本准则》 和各项具体会计准则、企业会计准则应用指南、企业会计准则解释公告以及其他 相关规定执行。 3、变更后采用的会计政策 本次会计政策变更后，公司将按照财政部发布的《企业会计准则解释第17 号》（财会[2023]21号）、《企业会计准则解释第18号》（财会[2024]24号）相 关规定执行。其他未变更部分，仍按照财政部前期颁布的《企业会计准则—基本 准则》和各项具体会计准则、企业会计准则应用指南、企业会计准则解释公告以 及其他相关规定执行。 一、会计政策变更概述 1、变更的原因 2023年10月，财政部发布了《企业会计准则解释第17号》（财会[2023]21 号），对"关于流动负债与非流动负债的划分"和"关于供应商融资安排的披露" 进行了规范，自2024年1月1日起施行。 根据上述规定，公司对原会计政策进行相应变更，并自2024年1月 ...

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