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 ...

广东东鹏控股股份有限公司 募集资金存放与实际使用情况的专项报告 截至 2024 年 12 月 31 日止 师事务所(特殊普通合伙) 审核报告 德师报(核)字(25)第 E00400 号 广东东鹏控股股份有限公司全体股东: 我们审核了后附的广东东鹏控股股份有限公司(以下简称"贵公司")截至 2024 年 12 月 31 日止募集资金存放与实际使用情况的专项报告(以下简称"募集资金存放与实际使用情况报 告")。 一、董事会对募集资金存放与实际使用情况报告的责任 按照中国证券监督管理委员会《上市公司监管指引第 2 号 -- 上市公司募集资金管理和使 用的监管要求》及《深圳证券交易所上市公司自律监管指引第 1 号 -- 主板上市公司规范运作》 的规定编制募集资金存放与实际使用情况报告,并保证募集资金存放与实际使用情况报告的内 容真实、准确、完整,且不存在虚假记载、误导性陈述或重大遗漏是贵公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审核工作的基础上对募集资金存放与实际使用情况报告发表意见。我 们按照《中国注册会计师其他鉴证业务准则第 3101 号 -- 历史财务信息审计或审阅以外的鉴证 业务》的规定执行 ...

中国国际金融股份有限公司 关于广东东鹏控股股份有限公司 2024 年度募集资金存放与使用情况的专项核查意见 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作 为广东东鹏控股股份有限公司（以下简称"东鹏控股"或"公司"）持续督导 的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司监管指引第 2号——上市公司募集资金管理和使用的监管要求》和《深圳证券交易所上市公 司自律监管指引第 13 号——保荐业务》等有关法律法规和规范性文件的要求， 对东鹏控股 2024 年度募集资金存放与实际使用情况进行了核查，并出具本核查 意见。 一、募集资金基本情况 经中国证券监督管理委员会《关于核准广东东鹏控股股份有限公司首次公 开发行股票的批复》（证监许可[2020]2222 号）核准，公司以每股人民币 11.35 元的发行价格首次公开发行 143,000,000 股人民币普通股（A 股），股款计人民 币 1,623,050,000.00 元，扣除保荐费、承销费及其他发行费用后，实际募集资金 净额为人民币 1,480,067,000.00 元。上述募集资金于 2020 年 10 月 13 日全部到 账，经德勤 ...

关于广东东鹏控股股份有限公司 控股股东、实际控制人及其他关联方资金占用情况的专项说明 本说明仅作为贵公司向证券监管机构呈报 2024 年度控股股东、实际控制人及其他关联方 资金占用情况之用,不得用作任何其他目的。 德勤华永会计师事务 中 玉 · 中国注册会计师 版能用意前面 芳 310000120043 中國註冊會計師 黃達輝 310000120827 2025年4月 17日 德师报(核)字(25)第 E00401 号 广东东鹏控股股份有限公司董事会: 我们接受委托,依据中国注册会计师审计准则审计了广东东鹏控股股份有限公司(以下简 称"贵公司")2024年 12月 31 日合并及母公司资产负债表,2024年度合并及母公司利润表、 合并及母公司现金流量表、合并及母公司股东权益变动表以及相关财务报表附注(以下合称 "财务报表"),并于 2025年 4月 17日签发了德师报(审)字(25)第 P02771 号无保留意见的审计 报告。 根据中国证券监督管理委员会联合公安部、国务院国有资产监督管理委员会及中国银行保 险监督管理委员会公布的《上市公司监管指引第 8 号 -- 上市公司资金往来、对外担保的监管 要求》的要求 ...