Core Viewpoint - The company reported stable operating performance in the first quarter of 2025 despite industry challenges, with revenue remaining flat year-on-year and a decrease in net profit due to price adjustments in the previous year [4][5]. Financial Data - The company achieved operating revenue of 994 million yuan in the first quarter, which is approximately the same as the previous year [4]. - Net profit decreased compared to the same period last year, influenced by a decline in product prices [4][5]. - The company reported a non-recurring loss of 277,000 yuan related to employee compensation for factory relocation [3]. Operational Strategies - The company focused on channel optimization and cost control, leading to an 11.27% reduction in total expenses year-on-year [5]. - The retail business for tiles saw a revenue increase of 10.19% year-on-year, driven by product innovation and a response to national policies promoting home renovation [5]. Shareholder Information - As of the end of the reporting period, the company repurchased 6,038,900 shares, accounting for 0.52% of the total share capital, with a total transaction amount of approximately 36.25 million yuan [6]. Board Meeting - The company's board of directors held a meeting on April 25, 2025, where they unanimously approved the first quarter report and the 2024 ESG report [10][12].

2024 广东东鹏控股股份有限公司 环境、社会及管治（ESG）报告 2024 Environmental, Social and Governance (ESG) Report 目录 | | | | 01 | 02 | | 03 | | 04 | | 05 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 责任担当，百年东鹏 | | 绿色融合，美好人居 | | 匠心品质，用户至上 | | 携手前行，鹏翼未来 | | 秉承初心，社区共融 | | 22 公司治理 | 36 | 环境合规 | 58 | 创新驱动 | 92 | 合规雇佣 | | 118 文化可持续 | | 26 风险管理 | 39 | 能源使用 | 68 | 产品品质 | 100 | 员工培训与发展 | | 122 社会贡献 | | 30 商业道德 | 44 | 资源管理 | 74 | 负责任供应链 | 106 | 员工权益与关怀 | | 124 乡村振兴 | | 32 数据安全与客户隐私保护 | 46 | 污染物排放 | 86 | 客户服务 | 111 | 职业健康与安全 | ...

证券代码：003012 证券简称：东鹏控股 公告编号:2025-032 广东东鹏控股股份有限公司 第五届董事会第十六次会议决议公告 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 广东东鹏控股股份有限公司（以下简称"公司"）第五届董事会第十六次会 议于2025年4月25日以通讯表决方式召开，会议通知于2025年4月17日以书面或电 子邮件方式发出。本次会议应出席董事9名，实际出席董事9名，出席董事占东鹏 控股全体董事人数的100%。本次会议符合《公司法》等有关法律、行政法规、部 门规章、规范性文件和《公司章程》的规定，会议合法有效。 二、董事会会议审议情况 经与会董事认真审议，以记名投票表决方式通过了以下议案： 1、审议通过了《关于 2025 年第一季度报告的议案》。 公司《2025 年第一季度报告》披露于《中国证券报》《证券时报》《上海 证券报》《证券日报》和巨潮资讯网（www.cninfo.com.cn）。 表决结果：同意 9 票，占全体董事人数的 100%；反对 0 票；弃权 0 票。 2、审议通过了《2024 年环境、社会及管治 ...

Financial Performance - The company reported a basic earnings per share of -0.0263 yuan for Q1 2025, a decrease of 168.37% compared to -0.0098 yuan in Q1 2024 [1] - The net profit for Q1 2025 was -0.3 billion yuan, a significant decline of 150% from -0.12 billion yuan in Q1 2024 [1] - The operating revenue for Q1 2025 was 9.94 billion yuan, down 1.78% from 10.12 billion yuan in Q1 2024 [1] - The return on equity was -0.40% in Q1 2025, compared to -0.15% in Q1 2024, reflecting a decline of 166.67% [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 80,414.82 million shares, accounting for 70.22% of the circulating shares, with an increase of 836.74 million shares from the previous period [2] - The largest shareholder, Ningbo Lijian Venture Capital Partnership, holds 35,037.98 million shares, representing 30.60% of the total share capital, with no change [3] - The second-largest shareholder, Foshan Huashengchang Ceramics Co., Ltd., holds 16,200 million shares, accounting for 14.15% of the total share capital, also unchanged [3] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [3]

Financial Performance - The company's revenue for Q1 2025 was CNY 994.30 million, a decrease of 1.74% compared to CNY 1,011.95 million in the same period last year[4]. - The net profit attributable to shareholders was a loss of CNY 30.45 million, representing a decline of 164.42% from a loss of CNY 11.52 million year-on-year[4]. - The total operating revenue for the current period was ¥994,298,902.45, a decrease of 1.6% from ¥1,011,954,877.18 in the previous period[22]. - The net profit for the current period was a loss of ¥30,403,306.04, compared to a loss of ¥11,923,136.96 in the previous period, indicating a significant decline in profitability[23]. - The company reported a basic and diluted earnings per share of -0.0263, compared to -0.0098 in the previous period, reflecting worsening financial performance[23]. Cash Flow and Liquidity - The net cash flow from operating activities improved to a loss of CNY 29.74 million, a 68.91% increase compared to a loss of CNY 95.65 million in the previous year[4]. - The net cash flow from operating activities was -29,742,651.45 CNY, an improvement from -95,653,471.99 CNY in the previous period, indicating a reduction in cash outflow[24]. - Total cash inflow from operating activities decreased to 1,311,453,639.43 CNY from 1,710,527,480.19 CNY, reflecting a decline of approximately 23.3%[24]. - Cash outflow from operating activities also decreased to 1,341,196,290.88 CNY from 1,806,180,952.18 CNY, showing a reduction of about 25.7%[24]. - The ending cash and cash equivalents balance was 2,071,468,155.51 CNY, down from 2,164,450,234.23 CNY in the previous period[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 11.46 billion, down 4.58% from CNY 12.01 billion at the end of the previous year[4]. - The company's total assets decreased to ¥11,456,350,742.79 from ¥12,006,436,364.97, showing a reduction in asset base[21]. - Total liabilities decreased to ¥3,872,995,825.80 from ¥4,357,477,432.70, indicating improved liability management[21]. Shareholder Information - Total number of common shareholders at the end of the reporting period was 27,893[15]. - The largest shareholder, Ningbo Lijian Venture Capital Partnership, holds 30.28% of shares, totaling 350,379,778 shares[15]. - The second largest shareholder, Foshan Huashengchang Ceramics Co., Ltd., holds 14.00% of shares, totaling 162,000,000 shares[15]. - The third largest shareholder, Ningbo Hongyisheng Equity Investment Partnership, holds 11.71% of shares, totaling 135,482,100 shares[15]. - The company plans to repurchase shares with a total amount not less than RMB 100 million and not exceeding RMB 200 million, with a maximum repurchase price of RMB 9.08 per share[17]. Operational Efficiency - The company reduced total expenses by 11.27% year-on-year through enhanced operational efficiency and cost control measures[9]. - The total operating costs amounted to ¥1,019,439,702.54, down from ¥1,030,526,114.97, reflecting a cost reduction strategy[22]. Investment Performance - The company reported a significant increase in investment income of 219.34%, amounting to CNY 1.83 million, attributed to higher returns from financial investments[13]. - The company recorded an investment loss of ¥2,683,200.00 from joint ventures, compared to a gain of ¥242,899.26 in the previous period, indicating challenges in investment performance[22]. Research and Development - Research and development expenses increased to ¥41,923,515.22 from ¥37,251,151.30, highlighting a focus on innovation[22].

Core Viewpoint - Dongpeng Holdings (003012) reported a total revenue of 6.469 billion yuan for 2024, with a net profit attributable to shareholders of 328 million yuan, showcasing resilience amid challenges in the ceramic tile industry [1][2] Financial Performance - The company achieved a total revenue of 6.469 billion yuan in 2024, with ceramic tile products contributing 5.387 billion yuan [1] - Net profit attributable to shareholders was 328 million yuan, with operating cash flow of 859 million yuan [1] - Sales expenses decreased by 15.17% year-on-year, while management expenses fell by 0.12% [2] - R&D investment increased by 1.07%, indicating a focus on enhancing product competitiveness [2] - The cash flow from operating activities was 2.61 times the net profit attributable to shareholders, amounting to 859 million yuan [2] - The company maintained a cash balance of 3.215 billion yuan, with a debt-to-asset ratio of 36.29%, down 1.67 percentage points year-on-year [2] Market Position and Growth - Dongpeng Holdings achieved a market share increase despite an overall decline in industry output, with tile sales reaching 150 million square meters [3] - The company's production capacity utilization rate was close to 80%, significantly higher than the industry average of less than 50% [3] - The company expanded its small B channel operations, leading to an 8.07% year-on-year growth in its integrated business [3] Strategic Initiatives - The company is focusing on upgrading its product structure and transitioning towards green and low-carbon solutions [4] - High-value products accounted for 27.8% of sales, with innovations such as micro-patterned stone and smart toilets [4] - Dongpeng Holdings initiated a stock repurchase plan, with a total repurchase amount between 100 million and 200 million yuan, reflecting management's confidence in future growth [4]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [7]. Core Views - The company experienced a significant decline in revenue and profit in 2024, with operating income of 6.469 billion yuan, down 16.77% year-on-year, and a net profit attributable to shareholders of 328 million yuan, down 54.41% year-on-year [1][4]. - The company has implemented a stock incentive plan, indicating confidence in its long-term growth potential, with profit growth targets for 2025-2026 set at no less than 0%, 10%, and 15% compared to 2023 [1]. - The company is expected to gradually improve its market share in the medium to long term, especially if the real estate sector recovers [4]. Financial Performance - In 2024, the company’s gross margin was 29.7%, a decrease of 2.32 percentage points year-on-year, while the expense ratio increased to 21.31%, up 2.41 percentage points year-on-year [3]. - The company’s cash flow from operations (CFO) was 859 million yuan in 2024, a decrease of 907 million yuan year-on-year, with a cash collection ratio of 123.96% [3][14]. - The company’s revenue from tiles and sanitary ware in 2024 was 5.387 billion yuan and 916 million yuan, respectively, with year-on-year declines of 18.15% and 6.50% [2]. Market Position and Strategy - The company’s direct sales and distribution revenue accounted for 37.24% and 61.44% of total revenue in 2024, with the distribution channel's share increasing [2]. - The report highlights the importance of monitoring raw material prices, which may support gross margins in 2025 [2]. - The company’s marketing network covers the entire country, providing a solid foundation for future growth if the real estate market improves [4].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [7] Core Views - The company experienced a significant decline in revenue and profit in 2024, with operating income of 6.469 billion yuan, down 16.77% year-on-year, and a net profit attributable to shareholders of 328 million yuan, down 54.41% year-on-year [1] - The company has implemented an equity incentive plan, indicating confidence in its long-term growth potential, with profit growth targets for 2025-2026 set at no less than 0%, 10%, and 15% compared to 2023 [1] - The company is expected to improve its market share in the medium to long term, especially if the real estate sector recovers [4] Financial Performance - In 2024, the company’s gross margin was 29.7%, a decrease of 2.32 percentage points year-on-year, with a net profit margin of 5.04%, down 4.22 percentage points year-on-year [3] - The company’s revenue from tiles and sanitary ware in 2024 was 5.387 billion yuan and 916 million yuan, respectively, with year-on-year declines of 18.15% and 6.50% [2] - The company’s cash flow from operations (CFO) in 2024 was 859 million yuan, a decrease of 907 million yuan year-on-year, indicating room for improvement in cash flow management [3] Market Position and Strategy - The company’s direct sales and distribution revenue accounted for 37.24% and 61.44% of total revenue in 2024, respectively, with the distribution channel's share increasing, reflecting an optimization of the channel structure [2] - The report forecasts net profits for 2025, 2026, and 2027 to be 378 million yuan, 434 million yuan, and 513 million yuan, respectively, indicating a recovery trajectory [4][5]

Core Viewpoint - Dongpeng Holdings, a leading company in the building sanitary ceramics industry in China, reported a decline in revenue and profit for 2024 due to a challenging market environment, but still demonstrated resilience compared to the overall industry performance [8][9]. Company Overview - Dongpeng Holdings aims to become a leading provider of integrated home solutions in China, offering a wide range of products including tiles, sanitary ware, and ecological new materials [3][5]. - The company emphasizes innovation and has invested in various platforms, holding 1,447 valid patents, including 404 invention patents [3]. Financial Performance - In 2024, the company achieved operating revenue of 6.469 billion yuan and a net profit attributable to shareholders of 328 million yuan, reflecting a year-on-year decline [8][9]. - The profit distribution plan includes a cash dividend of 2.50 yuan per 10 shares, with no bonus shares issued [2][26]. Business Segments - The main product categories include tiles and sanitary ware, with a focus on innovative products such as graphene heating tiles and eco-friendly materials [5][9]. - The company has expanded its retail network, adding 188 new stores and maintaining a strong presence in e-commerce platforms [9][12]. Market Strategy - Dongpeng is focusing on product innovation and operational efficiency to adapt to market changes, including launching new product lines and enhancing supply chain management [9][10]. - The company has been recognized for its green transformation efforts, receiving multiple ESG awards [10][11]. Future Outlook - The company plans to continue focusing on its core business while exploring new market opportunities, particularly in high-end segments and ecological materials [9][10]. - Dongpeng aims to enhance its profitability by improving scale effects in its sanitary ware and ecological new materials businesses [8][9].

德师报(审)字(25)第 S00145 号 广东东鹏控股股份有限公司 内部控制审计报告 2024 年 12 月 31 日 . 内部控制审计报告 内部控制具有固有局限性,存在不能防止和发现错报的可能性。此外,由于情况的变化可 能导致内部控制变得不恰当,或对控制政策和程序遵循的程度降低,根据内部控制审计结果推 测未来内部控制的有效性具有一定风险。 四、财务报告内部控制审计意见 我们认为,东鹏公司于 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。 德勤华永会计师事 日 广东东鹏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,我们审计了广东 东鹏控股股份有限公司(以下简称"东鹏公司")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 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》的 规定,建立健全和有效实施内部控制,并评价其有效性是东鹏公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的有效性 ...