Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 28 yuan [1][7]. Core Insights - The company reported a revenue of 618 million yuan in Q1 2025, representing a year-on-year increase of 5.16%. The net profit attributable to shareholders was 4.82 million yuan, a significant increase of 302.86% year-on-year, while the non-recurring net profit was -15.99 million yuan [1][7]. - The company has demonstrated excellent cost control, with a gross margin of 38.68% in Q1 2025, reflecting a slight increase of 0.02 percentage points year-on-year. The sales, management, financial, and R&D expense ratios were 19.30%, 8.43%, 1.61%, and 13.81%, respectively, showing a decrease in sales and management expense ratios, indicating improved cost management capabilities [7][8]. - The company is focusing on high-growth sectors, particularly in reliability and environmental testing, where it is one of the largest service providers in China. It aims to keep pace with industry trends and expand into emerging fields such as robotics, artificial intelligence, and advanced nuclear energy [7][8]. Financial Summary - The company is projected to achieve total revenue of 3.62 billion yuan in 2025, with a year-on-year growth rate of 13.0%. The net profit attributable to shareholders is expected to be 408 million yuan, reflecting a growth rate of 16.0% [3][8]. - The earnings per share (EPS) is forecasted to be 0.70 yuan in 2025, with a price-to-earnings (P/E) ratio of 28 [3][8]. - The company’s total assets are expected to reach 7.13 billion yuan by 2025, with a debt-to-equity ratio of 56.5% [8].

Core Viewpoint - The company reported significant growth in net profit and earnings per share for the first quarter of 2025, driven by digital transformation and improved management efficiency [6]. Financial Data - The net profit attributable to shareholders for the first quarter of 2025 increased by 302.86% compared to the same period last year, primarily due to enhanced operational efficiency through digital empowerment [6]. - The net profit excluding non-recurring gains and losses increased by 445.68 million yuan, attributed to similar reasons as the overall profit growth [6]. - The net cash flow from operating activities decreased by 2,602.83% year-on-year, mainly due to an increase in cash payments to employees by 66.2488 million yuan [6]. - Basic and diluted earnings per share grew by 314.29% compared to the previous year, reflecting a net profit increase of 3.6262 million yuan [6]. - The weighted average return on net assets increased by 0.11% year-on-year, also linked to the rise in net profit [6]. Shareholder Information - The total number of ordinary shareholders and the top ten shareholders' holdings were reported, with a specific mention of a repurchase account holding 22,858,144 shares [7].

Financial Performance - The company reported a basic earnings per share of 0.0087 yuan for Q1 2025, a significant increase of 314.29% compared to 0.0021 yuan in Q1 2024, and a recovery from a loss of -0.0046 yuan in Q1 2023 [1] - Net profit for Q1 2025 was 0.05 billion yuan, marking a 400% increase from 0.01 billion yuan in Q1 2024, and a recovery from a loss of -0.03 billion yuan in Q1 2023 [1] - Operating revenue reached 6.18 billion yuan in Q1 2025, up 5.1% from 5.88 billion yuan in Q1 2024 [1] - The return on equity (ROE) improved to 0.14% in Q1 2025 from 0.03% in Q1 2024, reflecting a 366.67% increase [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 32,521.94 million shares, accounting for 60.12% of the circulating shares, with a decrease of 181.94 million shares compared to the previous period [1] - Guangzhou Digital Technology Group Co., Ltd. remains the largest shareholder with 21,120 million shares, representing 39.04% of total share capital, unchanged from the previous period [2] - Hong Kong Central Clearing Limited increased its holdings by 519.44 million shares, now holding 1,485.91 million shares, which is 2.75% of total share capital [2] Dividend Distribution - The company has announced that it will not distribute dividends or transfer shares this time [3]

Financial Performance - The company's operating revenue for Q1 2025 was ¥618,034,377.09, representing a 5.16% increase compared to ¥587,715,589.51 in the same period last year[5] - Net profit attributable to shareholders for Q1 2025 reached ¥4,823,493.09, a significant increase of 302.86% from ¥1,197,322.32 year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,598,793.54, an improvement of 73.60% compared to -¥6,055,631.64 in the previous year[5] - The basic and diluted earnings per share for Q1 2025 were both ¥0.0087, reflecting a 314.29% increase from ¥0.0021 in the same period last year[5] - The company reported a notable increase in contract assets, rising to ¥401,432,560.88 from ¥361,850,381.19, indicating a growth of 10.9%[15] - The company reported a total comprehensive income of -207,143.27, a decrease from -4,647,406.20, showing a significant reduction in losses[20] - Basic and diluted earnings per share increased to 0.0087 from 0.0021, reflecting a growth of approximately 314.3%[20] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 2,602.83% to -¥105,967,541.74, primarily due to an increase in cash payments to employees[9] - The cash flow from operating activities showed a significant change, with a focus on improving liquidity management strategies[14] - The net cash flow from operating activities was -105,967,541.74, a decline from a positive cash flow of 4,233,914.95 in the previous period[22] - Investment activities resulted in a net cash outflow of -34,007,458.16, compared to a larger outflow of -221,406,388.72 previously, indicating improved cash management[22] - The total cash and cash equivalents at the end of the period stood at 781,464,801.53, down from 1,229,870,892.15, indicating a decrease of about 36.5%[22] Assets and Liabilities - Total assets at the end of Q1 2025 were ¥6,385,548,352.13, down 2.58% from ¥6,554,677,297.80 at the end of the previous year[5] - Total assets decreased to ¥6,385,548,352.13 from ¥6,554,677,297.80, a reduction of 2.6%[16] - Total liabilities decreased to ¥2,925,227,088.47 from ¥3,136,995,645.70, a decline of 6.7%[16] - The company's cash and cash equivalents decreased to ¥790,049,496.53 from ¥1,024,962,977.36, reflecting a decline of 22.9%[14] - Accounts receivable increased to ¥1,375,031,921.95, up 3.5% from ¥1,327,781,071.68[14] - The equity attributable to shareholders increased slightly by 0.22% to ¥3,343,184,522.06 from ¥3,335,918,962.36 at the end of the previous year[5] - The company's equity attributable to shareholders increased to ¥3,343,184,522.06 from ¥3,335,918,962.36, a slight increase of 0.4%[16] Operational Efficiency - Total operating costs amounted to ¥648,827,535.27, up 8.0% from ¥600,726,349.05 in the prior period[18] - Operating profit improved to -7,295,890.35 from -10,445,858.21, indicating a reduction in losses by about 30.3%[19] - The total revenue from operating activities was 572,524,844.84, slightly up from 570,142,489.52, showing a marginal increase of 0.4%[21] - Research and development expenses increased to 85,369,667.66, up from 70,173,561.57, reflecting a growth of approximately 21.6%[19] Future Outlook - The company plans to enhance its market expansion efforts and invest in new technology development to drive future growth[14] - The company received government subsidies amounting to ¥6,657,138.00 during the reporting period, contributing positively to its financial performance[6] - The total number of ordinary shareholders at the end of the reporting period was 33,990, indicating a stable shareholder base[11]

Core Viewpoint - The company has announced its 2024 annual profit distribution plan, which includes a cash dividend of 1.50 yuan per 10 shares for all shareholders, excluding repurchased shares [2][3][6]. Summary by Sections 1. Profit Distribution Plan - The company will distribute a total cash dividend of 84,058,155.30 yuan based on a total share capital of 583,245,846 shares, excluding 22,858,144 repurchased shares [2][3][11]. - The cash dividend will be 1.50 yuan per 10 shares (tax included) for shareholders, with specific tax treatments for different types of investors [6][12]. 2. Shareholder Meeting Approval - The profit distribution plan was approved at the shareholder meeting held on April 17, 2025, and aligns with the previously announced plan [2][4]. 3. Key Dates - The record date for the profit distribution is April 28, 2025, and the ex-dividend date is April 29, 2025 [7]. 4. Distribution Method - Cash dividends will be directly credited to the accounts of shareholders through their custodial securities companies on the ex-dividend date [9]. 5. Adjustments Due to Share Buyback - The company’s repurchased shares will not participate in the profit distribution, and the adjusted ex-dividend price will be calculated based on the total share capital [11][12].

证券代码：002967 证券简称：广电计量 公告编号：2025-031 广电计量检测集团股份有限公司 2024 年年度权益分派实施公告 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： 截至本公告披露日，广电计量检测集团股份有限公司（以下简称"公司"） 回购专用证券账户持有的回购股份 22,858,144 股不参与公司 2024 年年度权益分派， 本次实际分红的总金额为 84,058,155.30 元，以公司总股本 583,245,846 股折算的每 10 股现金红利（即分红总额/总股本）为 1.441213 元；本次权益分派实施后的除 权除息参考价=股权登记日收盘价-0.1441213。 公司 2024 年年度权益分派方案已获 2025 年 4 月 17 日召开的 2024 年度股东 大会审议通过，现将权益分派事宜公告如下： 一、股东大会审议通过权益分派方案等情况 1.公司 2024 年年度权益分派方案已获 2025 年 4 月 17 日召开的 2024 年度股 东大会审议通过，公司 2024 年年度权益分派方案为：以分配方案未来实施时股权 登记日 ...

Meeting Details - The shareholder meeting was held on April 17, 2025, at 16:00, with network voting available from 9:15 to 15:00 on the same day [3][4][5] - The meeting took place at the Guangdian Measurement Technology Industrial Park, Guangzhou [4] - A total of 244 shareholders and authorized representatives attended, representing 311,674,729 shares, which is 55.61770% of the total voting shares [8] Voting Results - The following proposals were approved during the meeting: - The 2024 Annual Work Report of the Board of Directors [9] - The 2024 Annual Work Report of the Supervisory Board [10] - The 2024 Financial Settlement Report [10] - The 2024 Profit Distribution Plan [10] - The 2024 Annual Report and its Summary [10] - The application for 2025 Comprehensive Credit [10] - The overall borrowing limit for 2025 [10] - The reappointment of the auditing firm for 2025 [10] Legal Opinion - The meeting was witnessed by lawyers from Beijing Tianyuan (Guangzhou) Law Firm, confirming that the meeting's procedures complied with legal and regulatory requirements [10]

证券代码：002967 证券简称：广电计量 公告编号：2025-030 广电计量检测集团股份有限公司 2024 年度股东大会决议公告 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： 本次股东大会未出现否决议案的情形，不涉及变更以往股东大会已通过的决 议。 一、会议召开和出席情况 （一）会议召开时间 1.现场会议：2025 年 4 月 17 日 16:00； 2.网络投票： （1）通过深圳证券交易所（下称"深交所"）交易系统进行网络投票的具体 时间为：2025 年 4 月 17 日 9:15-9:25、9:30-11:30、13:00-15:00； （2）通过互联网投票系统（http://wltp.cninfo.com.cn）投票的具体时间为： 2025 年 4 月 17 日 9:15-15:00。 （二）会议召开地点：广州市番禺区石碁镇创运路 8 号广电计量科技产业园 科研创新楼 24 楼会议室。 （三）会议召开方式：采用现场表决与网络投票相结合的方式。 （四）会议召集人：公司董事会。 （五）会议主持人：公司董事长杨文峰。 （六）会议的召开符合《公 ...

北京市天元（广州）律师事务所 关于广电计量检测集团股份有限公司 2024 年度股东大会之 法律意见 二零二五年四月 地址：广东省广州市天河区珠江新城珠江东路 6 号周大福金融中心 33 层 邮编（P.C）：510623 电话（Tel）：020-88835385 传真（Fax）：0862-88835385 北京市天元（广州）律师事务所 关于广电计量检测集团股份有限公司 穗天股字（2025）第002号 致：广电计量检测集团股份有限公司 广电计量检测集团股份有限公司（以下简称"公司"或"广电计量"）2024 年度股东大会（以下简称"本次股东大会"）采取现场投票与网络投票相结合的方 式，现场会议于 2025 年 4 月 17 日 16 时 00 分在广东省广州市番禺区石碁镇创运 路 8 号广电计量科技产业园科研创新楼 24 楼会议室召开。北京市天元（广州） 律师事务所（以下简称"本所"）接受公司聘任，指派本所律师参加本次股东大会 现场会议，并根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》" ）、《上市公司股东会规则》 （以下简称"《股东会规则》"）以及《广电计 ...

Group 1 - The price of 24K gold jewelry varies among different brands, with 周大生 and 黑直营 both pricing their products at 990 yuan per gram [2] - 菜百首饰 offers a slightly lower price of 950 yuan per gram for its 24K gold jewelry [2] - Other brands such as 潮宏基, 谢瑞麟, 金至尊, and 周六福 also maintain a consistent price of 990 yuan per gram for their 24K gold products [2]