Investment Rating - The report maintains an "Accumulate" rating for the company [7] Core Views - The company reported a significant increase in Q1 2025 profits, with revenue reaching 304 million yuan, up 17.31% year-on-year, and net profit attributable to shareholders at 18 million yuan, up 94.26% year-on-year [1] - The growth in profits is primarily attributed to a substantial increase in sales volume of civil explosive materials compared to the same period last year [1] - The company is expected to benefit from the high economic activity in the western region, particularly in Tibet, and the earnings forecast for 2025-2027 has been revised upwards [1] Financial Performance - In Q1 2025, the company's gross margin was 23.65%, an increase of 0.80 percentage points year-on-year, while the net profit margin reached 3.48%, up 2.8 percentage points year-on-year [2] - The cash flow from operations (CFO) saw a dramatic increase of 1198.65% year-on-year, amounting to 94 million yuan, driven by higher sales collections [2] - The company’s revenue for 2025 is projected to be 2.12 billion yuan, with a growth rate of 25.56% [5] Industry Outlook - The overall performance of the national civil explosive industry is stable, with a slight increase in industrial explosive production and a notable growth in the Tibet region, where production value increased by 17.9% year-on-year [3] - Major projects in water conservancy, mining, and railways are progressing, which is expected to accelerate the company's performance [3] - The report highlights the ongoing construction of significant projects such as the Yarlung Tsangpo River hydropower project and the expansion of major mining operations in Tibet [3]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002827 证券简称：高争民爆 公告编号：2025-023 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息 的真实、准确、完整。 3.第一季度报告是否经审计 □是 R 否 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 R 否 （二） 非经常性损益项目和金额 R 适用 □不适用 单位：元 其他符合非经常性损益定义的损益项目的具体情况 R 适用 □不适用 □适用R 不适用 二、股东信息 （一） 普通股股东总数和表决权恢复的优先股股东数量及前十名股东持股情况表 单位：股 持股5%以上股东、前10名股东及前10名无限售流通股股东参与转融通业务出借股份情况 公司不存在其他符合非经常性损益定义的损益项目的具 ...

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.0639 | 0.0329 | 94.22 | 0.0169 | | 每股净资产（元） | 3.35 | 3.01 | 11.3 | 2.82 | | 每股公积金(元) | 1.03 | 1.03 | 0 | 1.03 | | 每股未分配利润(元) | 1.01 | 0.71 | 42.25 | 0.53 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 3.04 | 2.59 | 17.37 | 2.62 | | 净利润(亿元) | 0.18 | 0.09 | 100 | 0.05 | | 净资产收益率(%) | 1.88 | 1.10 | 70.91 | 0.60 | 数据四舍五入，查看更多财务数据>> 三、分红送配方案情况 本次公司不分配不转赠。 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 17434.31万股， ...

高争民爆（002827）公告，2025年第一季度营收为3.04亿元，同比增长17.31%；净利润为1762.39万 元，同比增长94.26%。 ...

Financial Performance - The company's revenue for Q1 2025 was ¥304,096,639.27, representing a 17.31% increase compared to ¥259,214,202.74 in the same period last year[5]. - Net profit attributable to shareholders increased by 94.26% to ¥17,623,939.07 from ¥9,072,331.30 year-on-year[5]. - The net profit excluding non-recurring gains and losses surged by 190.91% to ¥14,008,493.99, up from ¥4,815,438.16 in the previous year[5]. - Basic earnings per share rose by 94.22% to ¥0.0639 from ¥0.0329 year-on-year[5]. - Net profit for the current period was ¥10,586,904.91, significantly higher than ¥1,770,369.41 in the previous period, marking a growth of 497.5%[18]. - The total comprehensive income for the period is CNY 17,623,939.07, compared to CNY 9,072,331.30 in the previous period, representing an increase of approximately 94%[19]. - Basic and diluted earnings per share for the period are both CNY 0.0639, up from CNY 0.0329 in the previous period, indicating a growth of 94%[19]. Cash Flow - Net cash flow from operating activities reached ¥94,243,401.95, a significant increase of 1,198.65% compared to ¥7,257,041.13 in the same quarter last year[5]. - Cash inflow from operating activities totaled CNY 412,300,567.50, compared to CNY 282,270,321.19 in the previous period, reflecting a growth of approximately 46%[21]. - Cash outflow from operating activities was CNY 318,057,165.55, compared to CNY 275,013,280.06 in the previous period, an increase of about 15.6%[22]. - Cash flow from financing activities generated a net cash inflow of CNY 56,222,278.05, compared to CNY 64,996,515.33 in the previous period, a decrease of about 13.5%[22]. - The company reported a net cash outflow from investing activities of CNY 5,442,509.60, an improvement from a net outflow of CNY 37,779,981.04 in the previous period[22]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,629,617,037.96, reflecting a 2.27% increase from ¥2,571,233,117.17 at the end of the previous year[5]. - The total assets of the company increased to ¥2,629,617,037.96 from ¥2,571,233,117.17, reflecting a growth of 2.3%[16]. - The total liabilities increased to ¥1,450,877,472.30 from ¥1,384,908,846.68, which is an increase of 4.8%[16]. - The company’s equity attributable to shareholders decreased slightly to ¥925,339,154.97 from ¥925,966,017.64, a decrease of 0.1%[16]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 23,142, with the largest shareholder holding 58.60% of the shares[11]. - The company reported a decrease of 0.07% in equity attributable to shareholders, totaling ¥925,339,154.97 compared to ¥925,966,017.64 at the end of the previous year[5]. Government Subsidies and Expenses - The company received government subsidies amounting to ¥5,508,150.69, which were included in the current period's profit[6]. - Research and development expenses were reported at ¥8,065,159.66, a decrease from ¥8,795,096.20 in the previous period, reflecting a decline of 8.3%[18]. - The company did not identify any other non-recurring gains or losses beyond those reported[6].

证券之星消息，2025年4月17日高争民爆（002827）发布公告称公司于2025年4月17日召开业绩说明会。 具体内容如下： 问：是否有布局新能源、锂矿等计划? 答：公司聚焦主责主业,集中优势资源深耕民爆行业,现阶段战略定位清晰,目前没有拓展非相关业务的考虑。 问：对投资者的回报率是不是太低了,从2019年开始公司分红都锁定4140万,而期间公司的利润却是大幅度增 长? 答：2024年公司派发现金4140万元,分红金额综合考虑了股东报需要和公司长远发展需求,符合《西藏高争民爆 股份有限公司未来三年(2023-2025年)股东分红报规划》。 问：是否有引入战略投资者计划?是否有并购计划? 答：请您以公司信息披露为准。 问：公司本期盈利水平如何? 答：2024年公司实现营业收入16.92亿元,较去年同期增加9%;实现归母净利润14,816.81万元,较去年同期增加 51.56%。 问：水电站项目进展如何? 答：请您以公司信息披露为准。 问：雅下水电站的业务有进入招投标程序了吗? 答：请您以公司信息披露为准。 问：公司一季度新签合同情况怎么样? 答：公司重大合同签订情况,请您以公司信息披露为准。 问：请公司订单状 ...

Group 1: Company Performance - In 2024, the company achieved operating revenue of 1.692 billion yuan, an increase of 9% compared to the previous year [2] - The net profit attributable to shareholders reached 148.17 million yuan, reflecting a significant increase of 51.56% year-on-year [2] - For 2025, the company anticipates operating revenue of 1.810 billion yuan and a total profit of 210 million yuan [3] Group 2: Shareholder Returns - The company distributed a cash dividend of 41.4 million yuan in 2024, which was determined by balancing shareholder returns with long-term development needs [2] - The dividend amount has been consistent since 2019, despite significant profit growth during the same period [2] Group 3: Industry Context - The overall performance of the civil explosives industry in 2024 showed a stable profit growth, with total production value reaching 41.695 billion yuan, a decrease of 4.5% year-on-year [5] - The industry achieved a total profit of 9.639 billion yuan, marking a year-on-year increase of 13.04% [5] - The demand in the western region remains strong, contributing positively to the industry outlook [6] Group 4: Future Plans and Strategies - The company will focus on expanding its core business in infrastructure construction and mining projects to enhance market penetration [4] - There are no current plans to diversify into unrelated businesses such as new energy or lithium mining [2] - The company emphasizes the importance of maintaining effective communication with investors and plans to hold regular investor open days [4]

Investment Rating - The report maintains an "Accumulate" rating for the company [6] Core Views - The company is expected to benefit from the high economic growth in the western region, with projected net profits increasing significantly from 1.48 billion yuan in 2024 to 5.7 billion yuan by 2027 [1] - The company has shown substantial revenue growth, with a 2024 revenue forecast of 1.692 billion yuan, representing a 9% year-on-year increase [5] - The report highlights the improvement in cost control capabilities, leading to a notable increase in net profit margin to 10.27% in 2024, up by 2.4 percentage points year-on-year [3] Financial Performance - In 2024, the company achieved a revenue of 1.692 billion yuan, with a net profit of 148.17 million yuan, reflecting a year-on-year growth of 51.56% [5] - The company’s gross profit margin for 2024 is projected at 30.36%, with a significant increase in the fourth quarter gross margin to 38.15% [3] - The report indicates a decrease in the average price of key raw materials, such as ammonium nitrate, which fell by 17.40% year-on-year, contributing to improved profitability [2] Business Segments - The company’s revenue from blasting services, civil explosive materials, and electronic delay modules for 2024 is projected at 910 million yuan, 640 million yuan, and 110 million yuan respectively, with year-on-year growth rates of 3%, 16.4%, and 53.8% [2] - The report emphasizes the ongoing high demand in the western region, particularly due to major projects in hydropower and mining, which are expected to drive further growth [4] Market Position - The company is positioned as a leading player in the civil blasting industry under the Tibet State-owned Assets Supervision and Administration Commission, benefiting from the region's economic expansion [1][4] - The report notes that the company occupies a dominant market position due to its unique geographical advantages and industrial layout [4]

前十大流通股东累计持有： 17490.09万股，累计占流通股比： 63.36%，较上期变化： 30.23万股。 一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.5400 | 0.3500 | 54.29 | 0.1900 | | 每股净资产（元） | 3.35 | 2.97 | 12.79 | 2.8 | | 每股公积金(元) | 1.03 | 1.03 | 0 | 1.03 | | 每股未分配利润(元) | 1.01 | 0.68 | 48.53 | 0.51 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 16.92 | 15.53 | 8.95 | 11.34 | | 净利润(亿元) | 1.48 | 0.98 | 51.02 | 0.53 | | 净资产收益率(%) | 16.97 | 12.23 | 38.76 | 6.91 | 数据四舍五入，查看更多财务数据>> 二、前10名 ...