Financial Performance - The company's revenue for Q1 2025 reached ¥1,088,564,969.86, representing a 15.53% increase compared to ¥942,217,611.81 in the same period last year[5] - Net profit attributable to shareholders was ¥103,144,063.29, up 15.15% from ¥89,573,760.54 year-on-year[5] - Basic earnings per share rose by 25.00% to ¥0.10, compared to ¥0.08 in the same period last year[5] - Total operating revenue for the current period reached ¥1,088,564,969.86, an increase of 15.5% compared to ¥942,217,611.81 in the previous period[21] - Net profit for the current period was ¥103,785,451.27, representing a 15.9% increase from ¥89,573,760.54 in the previous period[22] - Earnings per share (EPS) for the current period was ¥0.10, compared to ¥0.08 in the previous period, reflecting a 25% increase[23] - The company reported a total comprehensive income of ¥103,785,451.27 for the current period, compared to ¥89,573,760.54 in the previous period[23] Cash Flow - The net cash flow from operating activities increased by 86.94% to ¥53,888,995.15, compared to ¥28,826,543.21 in the previous year[5] - Cash inflow from operating activities totaled ¥802,638,097.74, an increase from ¥729,021,870.93 in the previous period[24] - The net cash flow from operating activities was $53,888,995.15, an increase of 87.0% compared to $28,826,543.21 in the previous period[25] - Cash outflows from operating activities totaled $748,749,102.59, up from $700,195,327.72, indicating a 6.3% increase[25] - The net cash flow from investing activities was $209,446,724.63, a significant improvement from a negative $56,765,283.37 in the previous period[25] - Cash inflows from investing activities amounted to $321,705,064.11, down 25.7% from $431,923,441.09[25] - Cash outflows for investing activities decreased to $112,258,339.48 from $488,688,724.46, a reduction of 77.0%[25] - The net cash flow from financing activities was $133,747,041.67, compared to a negative $100,600,000.00 in the previous period[25] - Total cash and cash equivalents at the end of the period reached $959,738,783.19, an increase from $870,037,430.40[25] - The company received $24,000,000.00 from investment absorption and $110,000,000.00 from borrowings during the financing activities[25] - The impact of exchange rate changes on cash and cash equivalents was positive at $427,116.51, compared to a negative impact of $150,921.45 previously[25] - The company paid $252,958.33 in dividends and interest, down from $600,000.00 in the previous period, indicating a decrease of 57.8%[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,647,509,936.31, an increase of 2.57% from ¥5,505,921,466.47 at the end of the previous year[5] - The company's total assets reached ¥5,647,509,936.31, up from ¥5,505,921,466.47, indicating a growth of approximately 2.6%[18] - The company's total liabilities at the end of the period were ¥1,533,460,922.26, slightly up from ¥1,528,609,413.94 at the beginning of the period[19] - Total liabilities increased to ¥1,469,313,277.91 from ¥1,460,504,939.91, showing a slight increase of about 0.5%[18] - Accounts payable decreased to ¥767,400,407.39 from ¥865,025,667.36, showing a decline of about 11.3%[18] - The company’s long-term equity investments slightly increased to ¥16,851,493.31 from ¥16,590,553.84, reflecting a growth of 1.6%[18] - Total equity attributable to shareholders increased to ¥4,089,452,198.03 from ¥3,977,356,624.49, marking a growth of 2.8%[19] Operational Highlights - The company reported a significant increase in short-term borrowings by 550.08%, attributed to new loans obtained during the period[12] - The company experienced a 234.88% increase in asset impairment losses, mainly due to inventory write-downs[12] - The company received government subsidies amounting to ¥2,282,712.19, which are closely related to its normal business operations[7] - The company repurchased a total of 38,505,300 shares, accounting for 3.4284% of the total share capital as of March 31, 2025[14] - The number of ordinary shareholders at the end of the reporting period was 37,061[11] - Research and development expenses for the current period were ¥66,532,814.04, up from ¥64,486,524.59 in the previous period, indicating a focus on innovation[22] - Deferred income decreased to ¥62,850,378.69 from ¥64,721,987.01, reflecting a reduction in future revenue recognition[19] - The company signed a renewed agreement among major shareholders to maintain consistent decision-making for sustainable development[15] Inventory and Costs - The company’s inventory decreased to ¥441,249,471.69 from ¥469,355,120.33, indicating a reduction of approximately 6.0%[17] - Total operating costs amounted to ¥966,414,088.07, up 14.1% from ¥847,128,910.45 in the prior period, with operating costs specifically rising to ¥745,060,676.78 from ¥637,122,823.03[21]

证券代码：002706 证券简称：良信股份 公告编号：2025-025 上海良信电器股份有限公司 关于控股股东股份质押及解除质押的公告 截至本公告披露日，上述股东及其一致行动人所持质押股份情况如下： 股东 名称 持股数量 （股） 持股比 例 本次解除质 押前质押股 份数量（股） 本次解除质 押后质押股 份数量（股） 占其所 持股份 比例 占公司 总股本 比例 已质押股份情况 未质押股份情况 已质押股份 限售和冻结 数量（股） 占已 质押 股份 比例 未质押股 份限售和 冻结数量 （股） 占未质 押股份 比例 任思 龙 106,064,330 9.44% 41,345,000 41,345,000 38.98% 3.68% 41,345,000 100% 38,203,248 59.03% 樊剑 军 57,698,542 5.14% 34,840,000 28,810,000 49.93% 2.57% 28,810,000 100% 14,463,907 50.07% 陈平 52,698,617 4.69% 26,492,500 26,492,500 50.27% 2.36% 26,492,500 100% 1 ...

上海良信电器股份有限公司(以下简称"公司")及其子公司良信电器(海盐) 有限公司、上海良信智能电工有限公司、上海良韵科技有限公司于近日取得国家 知识产权局颁发的 9 项发明专利证书、45 项实用新型专利证书、2 项外观设计专 利证书，具体情况如下： 证券代码：002706 证券简称：良信股份 公告编号：2025-024 上海良信电器股份有限公司 关于取得专利证书的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 | 专利号 | 专利名称 | 专利类型 | 申请日 | | | 有效期 证书号 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 旋转式开关操作机构 | | | | | | | | | ZL 2017 1 0538675.5 | 组件 | 发明 | 2017-7-4 | 20 | 年 | 第 | 7808814 | 号 | | ZL 2018 1 0027510.6 | 一种旋转式隔离开关 | 发明 | 2018-1-11 | 20 | 年 | 第 | 7809454 ...

证券代码：002706 证券简称：良信股份 公告编号：2025-023 关于使用部分闲置募集资金进行现金管理的 进展公告 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。 上海良信电器股份有限公司（以下简称"良信股份"或"公司"）于 2024 年 8 月 23 日召开了第六届董事会第二十三次会议，会议审议通过了《关于使用部分暂时 闲置募集资金进行现金管理的议案》，同意公司（含子公司）在不影响募集资金投资 项目建设和正常生产经营的前提下，使用不超过人民币 3.5 亿元的闲置募集资金进 行现金管理，产品期限不超过董事会审议通过之日起 12 个月，可在上述额度及期限 内滚动使用。具体内容详见 2024 年 8 月 24 日刊登于巨潮资讯网《关于使用部分暂 时闲置募集资金进行现金管理的公告》，公告编号：2024-066。 根据上述决议，近日上海良信电器股份有限公司与兴业银行股份有限公司（以 下简称"兴业银行"）签署了结构性存款协议，具体如下： 注：公司及子公司与上表所列签约银行无关联关系。 二、 投资风险及风险控制措施 （一）投资风险分析 1、尽管公司及子公司拟使用暂时 ...

证券研究报告 公司研究 [Table_ReportType] 点评报告 [Table_StockAndRank] 良信股份 (002706) 联系电话：010-83326711 邮 箱：wuhao@cindasc.com 孙然 电力设备与新能源行业分析师 执业编号：S1500524080003 联系电话：18721956681 邮 箱：sunran@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲 127 号 金隅大厦 B 座 邮编：100031 [Table_Title] 静待行业复苏，关注 AI 数据中心场景应用 [Table_ReportDate] 2025 年 4 月 3 日 | 重要财务指标 | | | 单位: | | 百万元 | | --- | --- | --- | --- | --- | --- | | 主要财务指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | 营业总收入 | 4,585 | 4,238 | 5,059 | 5,989 | 6,882 | | 同比(%) | 1 ...

证券研究报告 [Table_ReportType] 点评报告 公司研究 [Table_StockAndRank] 良信股份 (002706) 联系电话：010-83326711 邮 箱：wuhao@cindasc.com 孙然 电力设备与新能源行业分析师 执业编号：S1500524080003 联系电话：18721956681 邮 箱：sunran@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲 127 号 金隅大厦 B 座 邮编：100031 [Table_Title] 静待行业复苏，关注 AI 数据中心场景应用 [Table_ReportDate] 2025 年 4 月 3 日 | 重要财务指标 | | | 单位: | | 百万元 | | --- | --- | --- | --- | --- | --- | | 主要财务指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | 营业总收入 | 4,585 | 4,238 | 5,059 | 5,989 | 6,882 | | 同比(%) | 1 ...

（文/张志峰 编辑/周远方） 日前，国内低压电器设备头部供应商之一的良信股份发布2024年财务报告。 数据显示，企业受到市场竞争加剧、需求疲软、原材料价格波动等因素影响，2024年营业总收入为42.38亿元，同比下滑7.57%；归母净利润3.12亿元，同比 下降38.92%。 不过在管理层看来，这依然称得上是一个"机遇与挑战并存"的时代。 尤其是在数字经济高速发展的今天，国产算力需求如同井喷般迅猛增长，成为推动整个科技产业前进的强大引擎。这一趋势不仅拉动了AIDC（人工智能数 据中心）的加速建设，更在不经意间为AI数据中心新型配电系统建设开辟了广阔的市场空间。 《全球数据中心市场报告》预测，近五年全球智算中心电力需求将增长56%，而传统电力系统建设模式已难以应对快速迭代的算力需求与碳中和目标。 而新的智算中心必然对建设速度、运营效率和能源管理提出了前所未有的挑战，这就给作为智慧电气解决方案头部供应商的良信股份，带来了前所未有的发 展机遇。 | | 2024 年 | 2023 年 | 变动比例 | | --- | --- | --- | --- | | 研发人员数量(人) | 594 | 228 | 6. 45 ...

证券代码： 002706 证券简称：良信股份 上海良信电器股份有限公司投资者关系活动记录表 | 投资者关系活 | □ 特定对象调研 □ 分析师会议 | | --- | --- | | 动类别 | □ 媒体采访 √ 业绩说明会 | | | 新闻发布会 路演活动 □ □ | | | 现场参观 □ | | | □ 其他 （电话会议） | | 参与单位名称 | 投资者网上提问 | | 及人员姓名 | | | 时间 | 2025 年 4 月 1 日 15:00-17:00 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | | 采用网络远程的方式召开业绩说明会 | | 上市公司接待 | 1、董事长任思龙 | | 人员姓名 | 2、财务总监、董事会秘书程秋高 | | | 3、独立董事李传轩 | | | 公司就投资者在本次说明会中提出的问题进行了回复： | | | 1、面对行业竞争加剧，公司有哪些具体的差异化策略来提升市 | | | 场份额？ | | | 投资者您好。公司聚焦两智一新战略，持续围绕新能源电气技 | | | 术、智能配电、智慧人居市场深耕发力，通过头部大客户 ...

Core Insights - The company focuses on a "two intelligence and one innovation" strategy to enhance market share in the competitive landscape of the low-voltage electrical industry [1][2] - The Haiyan Super Factory is currently operational, featuring over 140 automated and semi-automated production lines, with a capacity of 376,000 units per shift [1] Group 1: Company Strategy - The company aims to deepen its market penetration by developing key clients and enhancing its product competitiveness through innovative R&D [1] - The transition from a component supplier to a comprehensive solution provider is emphasized, focusing on integrated hardware and software capabilities [1] Group 2: Production Capacity - The Haiyan factory has received the "2023 Zhejiang Province Future Factory" certification, indicating its advanced manufacturing capabilities [1] - The factory's core processes include electroplating, welding, and electronics, which contribute to cost optimization and improved product reliability [1]

Core Insights - The company is focusing on new growth demands driven by renewable energy and digital economy in the low-voltage electrical sector [1][2] - The company aims to become a leader in technological innovation and application within the industry by enhancing high voltage and high current technology research [1] Group 1: Product Innovations - The company has introduced new products such as 2P compact products and vacuum contactors to support the continuous development of renewable energy [1] - The company has also launched simplified isolation switches to meet the demands of data center development [1] Group 2: Research and Development Strategy - The company is implementing multiple R&D projects in areas such as renewable energy, digital energy, and smart living [1] - The company will focus on developing a new generation of LAZZEN low-voltage component series products using the IPD2.0 process [1] - The company plans to maintain strong R&D collaboration with major clients like Huawei and Vertiv to develop leading core technology systems [1] Group 3: Future Focus - The company will continue to emphasize the "Two Intelligence and One New" strategy, deepening research in high voltage and high current technologies [1] - The company aims to strengthen the application of solid-state and AI frontier technology achievements and expand overseas UL standard applications [1]