Core Viewpoint - The packaging industry is experiencing significant growth opportunities, and Huayuan Holdings (002787.SZ) has achieved remarkable performance in its 2024 annual report, with substantial increases in revenue and net profit [1][2]. Financial Performance - In 2024, Huayuan Holdings reported a revenue of 2.449 billion yuan, representing a year-on-year increase of 1.60% [2][3]. - The net profit reached 70.737 million yuan, showing a dramatic year-on-year growth of 739.00% [2][3]. - The non-recurring net profit was 59.297 million yuan, reflecting a year-on-year increase of 1358.48% [2][3]. - In the first half of 2024, the company achieved a revenue of 1.232 billion yuan, up 7.29% year-on-year, and a net profit of 42.119 million yuan, which is a 325.17% increase [3]. Business Segments - Huayuan Holdings focuses on two main areas: metal packaging and plastic packaging, with metal packaging dominating the revenue, generating 1.831 billion yuan in 2024 [2]. - The chemical can business saw a revenue increase of 7.53%, while the food packaging segment grew by 9.96% [2]. Strategic Expansion - The company is actively expanding into new business areas through acquisitions, including the purchase of a 60% stake in All-Round Precision, which adds battery precision components to its portfolio [4]. - The acquisition of Ruijie Technology in the plastic packaging sector positions Huayuan Holdings as the only listed company capable of providing both metal and plastic packaging in the chemical coating market [4]. - The company has established production bases in several cities across China, enhancing its domestic service capabilities and supporting international market expansion [4]. Operational Efficiency - Huayuan Holdings has implemented lean management practices, optimizing processes to significantly improve production efficiency [2][4]. - The company reported a net cash flow from operating activities of 204 million yuan in 2024, an increase of 33.63% year-on-year, indicating strong financial health [4].

Core Viewpoint - Huayuan Holdings (002787) has experienced a decline in stock price and an increase in shareholder accounts, alongside significant growth in net profit and a planned cash dividend distribution [1][2][3][4]. Group 1: Stock Performance - As of March 28, 2025, Huayuan Holdings closed at 9.25 yuan, down 3.55% from the previous week [1] - The stock reached a peak of 9.67 yuan on March 24 and a low of 9.0 yuan on March 27 [1] - The current market capitalization is 3.005 billion yuan, ranking 31st in the packaging and printing sector and 4083rd in the A-share market [1] Group 2: Shareholder Changes - As of March 31, 2025, the number of shareholders increased to 21,900, an increase of 1,635 accounts or 8.09% since December 31 [2] - The average number of shares held per account decreased from 16,900 to 15,600, with an average holding value of 139,500 yuan [2] Group 3: Financial Performance - For the fiscal year 2024, Huayuan Holdings reported a total revenue of 2.449 billion yuan, a year-on-year increase of 1.6% [3] - The net profit attributable to shareholders was 70.737 million yuan, up 739% year-on-year, while the non-recurring net profit rose by 1,358.48% to 59.297 million yuan [3] - In Q4 2024, the company recorded a quarterly revenue of 570 million yuan, a decline of 8.19% year-on-year, but a net profit increase of 179.69% to 12.068 million yuan [3] Group 4: Dividend and Share Buyback - The profit distribution plan for 2024 includes a cash dividend of 1.00 yuan per 10 shares, with no stock dividends or capital increases [4] - The total cash dividend distribution amounts to approximately 33.24 million yuan, which is 150.75% of the net profit attributable to shareholders [4] - The company repurchased 10.344 million shares for a total of approximately 73.40 million yuan and plans to cancel 6.35 million repurchased shares, reducing registered capital from 325.05 million yuan to 318.70 million yuan [4]

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 苏州华源控股股份有限公司（以下简称"公司"）于 2025 年 3 月 31 日召开了第五届董事 会第六次会议、第五届监事会第五次会议，审议通过了《关于使用自有资金进行现金管理的 议案》，同意公司使用最高不超过人民币 30,000 万元的自有资金进行现金管理，用于购买安全 性高、流动性好、风险可控的金融机构理财产品，以增加公司现金资产收益。进行现金管理 的额度授权期限自董事会审议通过之日起 12 个月内有效，期间可以滚动使用，并授权公司财 务总监最终签署相关实施协议或合同等文件。具体内容详见公司 2025 年 4 月 2 日在中国证监 会指定信息披露网站巨潮资讯网（www.cninfo.com.cn）上刊载的相关公告。 一、本次使用自有资金购买理财产品到期赎回的基本情况 公司子公司苏州华源中鲈包装有限公司（以下简称"中鲈华源"）分别于 2025 年 1 月 23 日、3 月 3 日使用自有资金 3,000 万元、2,000 万元向华夏银行吴江支行、浦发银行吴江盛泽 支行购买了理财产品，公司 2025 年 3 月 3 ...

Group 1: Company Performance - Western Gold achieved operating revenue of 7.001 billion yuan in 2024, a year-on-year increase of 56.68%, and net profit of 290 million yuan, turning from loss to profit [1] - Jihong Co. reported operating revenue of 5.529 billion yuan in 2024, a year-on-year decrease of 17.41%, with net profit down 47.28% to 182 million yuan [2] - Sanli Co. achieved operating revenue of 227 million yuan in 2024, a year-on-year increase of 14.35%, but reported a net loss of 49.88 million yuan, narrowing the loss by 56.50% [2] - Sanli Co. reported operating revenue of 2.590 billion yuan in 2024, a year-on-year increase of 25.25%, with net profit of 68.09 million yuan, up 59.07% [4] - Huaiqi Mountain achieved operating revenue of 1.631 billion yuan in 2024, a year-on-year increase of 15.60%, with net profit of 196 million yuan, up 17.74% [6] - Huayuan Holdings reported operating revenue of 2.449 billion yuan in 2024, a year-on-year increase of 1.60%, with net profit of 70.74 million yuan, up 739% [8] - Hangfa Power achieved operating revenue of 47.880 billion yuan in 2024, a year-on-year increase of 9.48%, but net profit decreased by 39.48% to 860 million yuan [10] - Zhongcai Energy reported operating revenue of 2.324 billion yuan in 2024, a year-on-year decrease of 24.21%, with net profit down 94.70% to 760,240 yuan [10] - Longxing Technology achieved operating revenue of 4.355 billion yuan in 2024, a year-on-year increase of 1.95%, with net profit of 142 million yuan, up 28.70% [11] - Jinying Co. reported operating revenue of 1.308 billion yuan in 2024, a year-on-year decrease of 4.52%, with net profit down 36.73% to 22.35 million yuan [12] - Zhujiang Co. achieved operating revenue of 1.558 billion yuan in 2024, a year-on-year decrease of 52.38%, but net profit turned to profit at 15.57 million yuan [12] - Chuanwang Media reported operating revenue of 288 million yuan in 2024, a year-on-year increase of 20.05%, but net profit decreased by 24.02% to 23.80 million yuan [13] - Ronglian Technology achieved operating revenue of 2.022 billion yuan in 2024, a year-on-year decrease of 14.91%, with net profit of 28.11 million yuan, up 107.87% [13] - Oufeiguang reported operating revenue of 20.437 billion yuan in 2024, a year-on-year increase of 21.19%, but net profit decreased by 24.09% to 58.38 million yuan [14] Group 2: Dividend Proposals - Western Gold proposed a cash dividend of 0.5 yuan per 10 shares [1] - Jihong Co. proposed a cash dividend of 1.58 yuan per 10 shares [2] - Sanli Co. proposed a cash dividend of 1.50 yuan per 10 shares [4] - Huaiqi Mountain proposed a cash dividend of 4.00 yuan per 10 shares [6] - Huayuan Holdings proposed a cash dividend of 1.00 yuan per 10 shares [8] - Hangfa Power proposed a cash dividend of 0.97 yuan per 10 shares [10] - Zhongcai Energy proposed a cash dividend of 0.05 yuan per 10 shares [10] - Longxing Technology proposed a cash dividend of 1.20 yuan per 10 shares [11] - Jinying Co. proposed a cash dividend of 1.00 yuan per 10 shares [12] - Zhujiang Co. proposed a cash dividend of 1.25 yuan per 10 shares [12] - Chuanwang Media proposed a cash dividend of 1.25 yuan per 10 shares [13] - Ronglian Technology proposed a cash dividend of 0.0425 yuan per share [13] - Oufeiguang proposed a cash dividend of 0.0178 yuan per share [14]

关于召开 2024 年年度股东大会通知的公告 证券代码：002787 证券简称：华源控股 公告编号：2025-029 苏州华源控股股份有限公司 关于召开 2024 年年度股东大会通知的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 苏州华源控股股份有限公司（以下简称"公司"）第五届董事会第六次会议决定于 2025 年 4 月 25 日（周五）在创新中心会议室采取现场会议与网络投票相结合的方式召开公司 2024 年年度股东 大会（以下简称"本次股东大会"），现将本次股东大会会议有关事项通知如下： 一、召开会议基本情况 （一）股东大会届次：公司 2024 年年度股东大会 （二）会议召集人：公司董事会。2025 年 3 月 31 日召开的公司第五届董事会第六次会议审议 通过了《关于提议召开公司 2024 年年度股东大会的议案》。 （三）会议召开的合法、合规性：本次股东大会会议的召集、召开程序符合《中华人民共和国 公司法》、《上市公司股东大会规则》等有关法律、行政法规和《公司章程》的规定。 （四）会议召开日期、时间 1、现场会议 本次股东大会现场会议的召开时间为 ...

第五届监事会第五次会议决议公告 证券代码：002787 证券简称：华源控股 公告编号：2025-016 苏州华源控股股份有限公司 第五届监事会第五次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 一、监事会会议召开情况 苏州华源控股股份有限公司（以下简称"公司"）第五届监事会第五次会议（以下简称"监事会"） 由监事会主席召集，于 2025 年 3 月 21 日以电话、即时通讯工具等方式向全体监事发出通知，并于 2025 年 3 月 31 日以现场会议与通讯表决的方式在华源控股创新中心 11 楼会议室举行。公司监事总 数 3 人，出席本次会议的监事及受托监事共 3 人（其中受托监事 0 人），其中以通讯表决方式出席会 议的监事有 2 人，为钟燕飞女士、高顺祥先生。出席本次会议监事超过公司监事总数半数，符合《公 司法》及《公司章程》关于召开监事会的规定。 二、 监事会会议审议情况 1、审议通过《2024 年度监事会工作报告》 同意： 3 票；反对： 0 票；弃权： 0 票； 同意的票数占出席本次会议有表决权监事的 100%，表决结果为通过。 本议案尚 ...

第五届董事会第六次会议决议公告 苏州华源控股股份有限公司 第五届董事会第六次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 一、董事会会议召开情况 苏州华源控股股份有限公司（以下简称"公司"）第五届董事会第六次会议（以下简称"董事会"） 由董事长召集，于 2025 年 3 月 21 日以电话、即时通讯工具等形式向全体董事发出通知，并于 2025 年 3 月 31 日以现场会议与通讯表决相结合的方式在华源控股创新中心 11 楼会议室举行。公司董事 总数 7 人，出席本次会议的董事及受托董事共 7 人（其中受托董事 0 人），其中以通讯表决方式出席 会议的董事有 6 人，分别为：李志聪先生、陆林才先生、沈华加先生、吴青川先生、江平先生、姚卫 蓉女士。出席本次会议董事超过公司董事总数半数，符合《公司法》及《公司章程》关于召开董事会 的规定。本次董事会由董事长李志聪先生主持，公司部分监事及高级管理人员列席了会议。 二、 董事会会议审议情况 1、审议通过《2024 年度总经理工作报告》 证券代码：002787 证券简称：华源控股 公告编号：2025-015 ...

2024 年度利润分配方案的公告 证券代码：002787 证券简称：华源控股 公告编号：2025-017 苏州华源控股股份有限公司 2024 年度利润分配方案的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 特别提示： 2024 年度利润分配比例：每 10 股分配现金红利 1.00 元（含税）。不送红股，不以资本公积金转 增股本。 董事会审议利润分配方案后至实施前若总股本发生其他变动的，将按照每股分配比例不变的原 则对分配总额进行调整。 本次利润分配不触及《深圳证券交易所股票上市规则》第 9.8.1 条规定的可能被实施其他风险警 示情形。 苏州华源控股股份有限公司（以下简称"公司"）2024 年度利润分配方案尚需提交 2024 年度股 东大会审议，存在不确定性。 一、审议程序 （一）董事会审计委员会审议情况 公司于 2025 年 3 月 21 日召开第五届董事会审计委员会第五次会议，审议通过了《2024 年度利 润分配方案》的议案。 （二）董事会审议情况 （三）监事会审议情况 公司于 2025 年 3 月 31 日召开的第五届监事会第五次会议审议通过了《 ...

Financial Performance - The company's operating revenue for 2024 was approximately ¥2.45 billion, representing a 1.60% increase from ¥2.41 billion in 2023[6]. - Net profit attributable to shareholders reached approximately ¥70.74 million, a significant increase of 739.00% compared to ¥8.43 million in 2023[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥59.30 million, up 1,358.48% from ¥4.07 million in 2023[6]. - The net cash flow from operating activities increased by 33.63% to approximately ¥204.24 million from ¥152.84 million in 2023[6]. - Basic and diluted earnings per share for 2024 were both ¥0.22, reflecting a 633.33% increase from ¥0.03 in 2023[6]. - Total assets at the end of 2024 were approximately ¥2.83 billion, a 2.90% increase from ¥2.75 billion at the end of 2023[6]. - Net assets attributable to shareholders increased by 12.11% to approximately ¥1.84 billion from ¥1.64 billion at the end of 2023[6]. - The company achieved total revenue of 2,449.26 million yuan in the reporting period, remaining stable compared to the previous year[49]. - The total operating revenue for 2024 reached ¥2,449,258,799.69, representing a year-on-year increase of 1.60% compared to ¥2,410,777,067.46 in 2023[56]. Business Expansion and Diversification - The company has expanded its business to include the production and sales of battery precision structural components after acquiring a 60% stake in a precision manufacturing company[16]. - The company has increased its main business to include plastic packaging production following the acquisition of Ruijie Technology in 2018[16]. - The company has successfully diversified its product offerings, including metal lids and food cans, which are increasingly contributing to its revenue[34]. - The company plans to expand its product types and service areas, enhancing its product structure to create new profit growth points, particularly targeting the growing consumer market among the younger generation[91]. - The food packaging segment is expected to become a new profit growth point, with significant investments in product process upgrades and market positioning to meet the increasing demand for canned foods and prepared dishes[93]. Market Position and Customer Base - The company operates in the packaging industry, which has been growing due to rising consumer spending and urbanization in China[28]. - The company has a complete business chain in packaging, including metal and plastic packaging, with capabilities in design, production, and technology services[30]. - The company has established itself as one of the more scalable and profitable enterprises in the domestic chemical can sector, with food packaging becoming a new profit growth point due to the gradual release of production capacity and the continuous expansion of new customers[31]. - The company has a stable high-end customer base in the metal packaging sector, including major clients such as Nippon Paint and AkzoNobel, contributing to sustained business growth[37]. - The company has developed a mature product operation mechanism in the plastic packaging sector, with key clients including Shell and ExxonMobil, enhancing its market presence[37]. Research and Development - The company plans to increase investment in research and development and production capacity in the food sector, aiming to occupy a competitive position in a broader market[31]. - R&D expenses amounted to 89.26 million yuan, representing 3.64% of the company's total revenue[49]. - The company holds over 400 authorized patents, including more than 70 invention patents, indicating a strong focus on technological innovation[50]. - The company aims to enhance technological innovation by collaborating with research institutions and universities to develop new products that meet market demands[94]. Financial Management and Governance - The company has established a comprehensive performance evaluation and incentive mechanism for its directors and senior management[109]. - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations, and enhancing its governance structure[102]. - The company has a clear asset structure, with all intangible and tangible assets owned independently, ensuring no asset occupation by the controlling shareholder[115]. - The company has established a stable and harmonious relationship with employees, providing a safe and healthy work environment and regular health check-ups[160]. - The company emphasizes the protection of shareholder rights, particularly for minority shareholders, ensuring equal rights and participation in shareholder meetings[159]. Environmental and Social Responsibility - The company aims to achieve "near-zero carbon" factories through continuous upgrades and development of smart equipment, focusing on "green, low-carbon, and environmentally friendly" packaging solutions[90]. - The company emphasizes environmental protection by adopting new technologies and processes for resource recycling and compliance with national environmental laws[156]. - The company has implemented measures to reduce carbon emissions, aligning with its commitment to "green manufacturing" and sustainable development[156]. - The company donated 200,000 yuan to Taoyuan Kindergarten in June 2024 and 525,000 yuan to Tongluo Fire Department in August 2024[164]. - The company contributed 1.5 million yuan to Wujiang District Charity Fund in September 2024 and 1 million yuan to Jiulijiao Village Committee in December 2024[164]. Risks and Challenges - The company faces risks from fluctuations in the domestic economy, which could impact its production and operations, as well as risks from raw material price volatility affecting profitability[96][97]. - The company has a concentrated customer base, primarily serving large international enterprises, which poses a risk if any major client alters their business relationship[97]. - The company faces risks related to large inventory and accounts receivable balances, which may impact liquidity and operational performance if not managed effectively[98]. - The company has established a robust credit assessment and accounts receivable management system, but there remains a risk of bad debt losses as the total accounts receivable increases[98]. Shareholder Engagement and Remuneration - The company held one annual and one extraordinary shareholders' meeting, ensuring equal treatment of all shareholders and facilitating their participation[103]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.29 million[130]. - The chairman and general manager, Li Zhichong, received a total pre-tax remuneration of CNY 1.0004 million[130]. - The company has a performance-based salary system for directors and senior management, with annual performance bonuses determined by the board's remuneration and assessment committee[129]. - The board of directors held a total of 7 meetings during the reporting period, with attendance recorded for each member[133].

目 录 | | | | 二、附件………………………………………………………………第 | 3—6 | 页 | | --- | --- | --- | | （一）本所执业证书复印件……………………………………… | 第 3 | 页 | | （二）本所营业执照复印件……………………………………… | 第 4 | 页 | | （三）本所注册会计师执业证书复印件………………………第 | 5—6 | 页 | 内部控制审计报告 天健审〔2025〕3-50 号 苏州华源控股股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了苏州华源控股股份有限公司（以下简称华源控股公司）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 四、财务报告内部控制审计意见 第 1 页 共 6 页 我们认为，华源控股公司于 2024 年 12 月 31 日按照《企业内部控制基本规 范》和相关规定在所有重大方面保持了有效的财务报告内部控制。 天健会计师事务所（特殊普通合伙） 中国注册会计师： 按照《企业内部控制基本规范》《企业内部控制应用指引》以及《企业内部 控制评价 ...