Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company achieved a revenue of 1.29 billion yuan in Q1 2025, with year-on-year growth of 21% and a net profit of 160 million yuan, reflecting a significant year-on-year increase of 105% [1] - The growth in performance is attributed to the continuous increase in demand for new energy products and effective cost reduction measures [1] - The company has accelerated its screw rod business layout, with successful development of new products and acquisition of technology to reduce equipment costs [2] Financial Performance Summary - Revenue projections for 2025-2027 are 5.55 billion yuan, 6.86 billion yuan, and 8.08 billion yuan respectively, with corresponding P/E ratios of 50, 41, and 35 [2] - The company’s gross margin in Q1 2025 was 21.6%, an increase of 0.6 percentage points year-on-year, while the expense ratio decreased by 2.3 percentage points [1] - The net profit for 2025 is estimated to be 555 million yuan, with a year-on-year growth rate of 11.7% [3] Business Development Summary - The company has developed a clear technical path for its screw rod business, with several products expected to enter mass production in 2025 [2] - The acquisition of Wuxi Kezhixin in February 2025 is expected to significantly reduce equipment costs and delivery times [2] - Key product milestones include the mass production of automotive screw rods in H2 2025 and the delivery of robot-related components by April 2025 [2]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company achieved a significant year-on-year revenue growth of 21% in Q1 2025, reaching 1.29 billion yuan, with a net profit of 160 million yuan, reflecting a 105% increase [1] - The growth is attributed to the continuous demand in the new energy sector and effective cost reduction strategies, enhancing overall profitability [1] - The company has accelerated its screw rod business layout, with successful product development and production line completion expected in 2025 [2] Financial Performance Summary - Revenue projections for 2025-2027 are 5.55 billion yuan, 6.86 billion yuan, and 8.08 billion yuan, respectively, with corresponding P/E ratios of 50, 41, and 35 [2] - The company’s gross margin improved to 21.6% in Q1 2025, up 0.6 percentage points year-on-year, while the expense ratio decreased by 2.3 percentage points [1] - The net profit for 2025 is estimated at 555 million yuan, with a year-on-year growth rate of 11.7% [3] Business Development Summary - The company has developed a clear technical path for its screw rod business, with several products expected to enter mass production in 2025 [2] - The acquisition of Wuxi Kezhixin in February 2025 is anticipated to significantly reduce equipment costs and delivery times [2] - Key milestones include the planned mass production of automotive screw rods in H2 2025 and the delivery of robot-related products by April 2025 [2]

Financial Performance - The company's revenue for Q1 2025 was ¥1,286,039,374.47, representing a 20.97% increase compared to ¥1,063,131,597.36 in the same period last year[3] - Net profit attributable to shareholders reached ¥159,416,805.19, a significant increase of 105.49% from ¥77,578,238.82 year-on-year[3] - The company reported a significant increase in operating profit by 97.05% compared to the previous year, driven by various factors[6] - The total profit for the reporting period increased by 99.21% compared to the previous year, reflecting the overall positive performance[6] - Net profit for the period reached ¥159,416,805.19, compared to ¥77,684,870.94 in the previous period, indicating a significant increase of about 104%[17][18] - Operating profit rose to ¥168,267,025.64, up from ¥85,393,796.13, reflecting a growth of approximately 97% year-over-year[17] Cash Flow - The net cash flow from operating activities surged to ¥134,590,016.78, marking a remarkable increase of 1,224.42% compared to ¥10,162,201.50 in the previous year[3] - Cash flow from operating activities was ¥1,176,238,612.58, up from ¥1,054,376,693.91, showing an increase of about 12%[20] - Operating cash inflow totaled ¥1,206,651,725.23, an increase from ¥1,074,418,115.92 year-over-year[21] - Operating cash outflow amounted to ¥1,072,061,708.45, slightly up from ¥1,064,255,914.42 year-over-year[21] - Investment cash inflow reached ¥14,888,630.17, compared to ¥3,795,173.01 in the previous year[21] - Investment cash outflow was ¥247,010,579.59, up from ¥49,250,135.66 year-over-year[21] - Net cash flow from investment activities was -¥232,121,949.42, worsening from -¥45,454,962.65 year-over-year[21] - Financing cash inflow totaled ¥340,000,000.00, an increase from ¥257,650,595.52 year-over-year[22] - Financing cash outflow amounted to ¥348,881,705.24, compared to ¥328,184,722.00 in the previous year[22] - Net cash flow from financing activities was -¥8,881,705.24, an improvement from -¥70,534,126.48 year-over-year[22] - The ending cash and cash equivalents balance was ¥405,943,191.85, up from ¥240,670,816.41 year-over-year[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,189,884,762.37, a decrease of 1.29% from ¥6,270,656,390.53 at the end of the previous year[3] - Total liabilities decreased to ¥3,376,625,759.25 from ¥3,627,997,009.19, a reduction of about 7%[14] - Shareholders' equity attributable to the company increased by 6.46% to ¥2,813,259,003.12 from ¥2,642,659,381.34 at the end of the previous year[3] - The company's total current assets amount to approximately CNY 3.64 billion, a decrease from CNY 3.96 billion in the previous period[13] - The company's total non-current assets increased to CNY 2.55 billion from CNY 2.31 billion[13] Shareholder Information - The total number of common shareholders at the end of the reporting period is 53,288[9] - The largest shareholder, Shuanglin Group Co., Ltd., holds 45.29% of shares, totaling 181,519,262 shares[9] - The top ten shareholders include various institutional investors, with the largest being Shuanglin Group Co., Ltd.[10] Expenses - The company experienced a 39.25% decrease in financial expenses year-on-year, attributed to reduced borrowing costs[6] - The company reported a decrease in financial expenses to ¥5,079,522.59 from ¥8,361,656.87, a reduction of approximately 39%[17] - Research and development expenses were ¥40,870,685.32, slightly up from ¥38,164,207.10, indicating a focus on innovation[17] Earnings Per Share - Basic earnings per share rose to ¥0.3978, reflecting a 105.48% increase from ¥0.1936 in the same period last year[3] - The basic and diluted earnings per share increased to ¥0.3978 from ¥0.1936, reflecting a growth of about 105%[18]

4月15日晚，双林股份披露了2024年年度报告，公司实现营业收入逾49亿元，同比增长18.64%；归属母 公司股东的净利润（以下简称"归母净利润"）4.97亿元，同比增长逾5倍；扣除非经常性损益的净利润 （以下简称"扣非净利润"）3.26亿元，与上年同期相比，也增长了逾3倍。 这是双林股份自2010年上市以来的最好经营业绩。公司解释，国内汽车复苏态势强劲，终端需求持续回 暖，带动公司主营业务收入增长。公司加速布局新能源汽车领域，相关产品营收规模同比大幅提升，成 为业绩增长重要引擎。 双林股份拥有一批知名企业客户，包括一汽、长城、福特等主流整车厂和佛瑞亚、联合电子等全球知名 零部件一级配套供应商等。 双林股份的司核心产品 HDM完美契合人形机器人核心部件的国产化需求，这样使得公司成为市场热门 公司。 二级市场上，2024年2月以来，双林股份股价大涨11倍左右，公司实际控制人邬建斌财富上涨逾百亿 元。 长江商报消息 ●长江商报记者 沈右荣 新能源产品热销，汽车零部件企业双林股份（300100.SZ）取得了历史最好经营业绩。 上述数据表明，新能源产品强劲增长，是公司2024年业绩增长的重要引擎。 多种新产品开发获得 ...

双林股份 20250116 摘要 • 双林股份内外饰业务稳定增长，2024 年收入约 26 亿元，同比增长 10.7%，占总收入 57%，毛利率高达 49.5%，是公司主要的收入和利润 来源。 • 新能源电机业务增长迅猛，2024 年收入 6.7 亿元，同比增长 148%，占 总收入 13.7%，毛利率 13.7%，预计随着高端电机产品量产，将成为未 来重要的利润增长点。 • 轮毂轴承单元业务收入 3.1 亿元，同比增长 8.8%，占总收入 26%，毛利 率 21.5%，受下游客户销量波动影响，毛利率保持平稳。 • 公司通过自主开发和收购无锡科之星，在滚珠传动汽车驱动系统领域取得 技术领先，尤其是在内螺纹技术方面，并降低了设备成本，缩短了交付周 期。 • 公司在汽车零部件业务方面取得多项进展，包括成为城市科技和长安的供 应商，预计 2025 年下半年开始量产，并向国产新能源品牌提供 EMB4 杠 产品。 Q&A 请介绍双林股份的主要业务及其 2024 年财务表现。 公司的各项传统业务对整体财务表现有哪些影响？ 内外饰与智能控制部件是公司的基本盘，占据 50%以上的收入和毛利，并处于 稳定增长状态。轮毂轴承单元 ...

2025年4月16日，双林股份(300100.SZ)发布2024年年度报告。截至2025年4月15日，共有110个机构投资 者披露持有双林股份A股股份，合计持股量达2.06亿股，占双林股份总股本的51.36%。其中，前十大机 构投资者包括双林集团股份有限公司、中国工商银行股份有限公司-鹏华新能源汽车主题混合型证券投 资基金、招商银行股份有限公司-鹏华碳中和主题混合型证券投资基金、中国建设银行股份有限公司-鹏 华沪深港新兴成长灵活配置混合型证券投资基金、中国工商银行股份有限公司-国泰估值优势混合型证 券投资基金(LOF)、中国工商银行股份有限公司-华夏核心制造混合型证券投资基金、香港中央结算有限 公司、全国社保基金一零四组合、海富通股票混合、鹏华创新未来混合(LOF)，前十大机构投资者合计 持股比例达49.84%。相较于上一季度，前十大机构持股比例合计下跌了0.52个百分点。 公募基金方面，本期较上一期持股增加的公募基金共计2个，包括鹏华碳中和主题混合A、国泰估值优 势混合(LOF)A，持股增加占比达0.46%。本期较上一季度持股减少的公募基金共计13个，主要包括万家 元贞量化选股股票A、汇安多因子混合A、万家 ...

大家好欢迎参加华安汽车推荐跟观众在上海连铺目前社参会的均属经营状态下面开始播命根据证券期货投资者适当性管理办法本次电话会议仅服务于华安证券研究所白名单客户本次会议在任何情形下都不构成对会议参加者的投资建议相关人员应自主作出投资决策并自行承担投资风险 各位投资者早上好,我是华安汽车组沈佳敏,今天主要跟各位更新一下我们近期的重点推荐标的,冠胜双菱研普。首先对于当前整个70板块,我们在之前的报告和录影中也都在强调今年的投资主线在于创新,因为我们认为, 当整个行业不再倾向于交易,新能源渗透率提升的贝塔的时候,一些具备创新力的零部件公司会有更好的超额收益。那么像冠胜双菱、言普在今年的产品端,我们都能够看到一些好的变化。另外,从短期节奏上看, 虽然从年后以来A股的科技题材非常火热但是可能3月份会慢慢进入到交易业绩的冲突期所以火热的题材可能会出现比较大的分化但我们认为冠胜双菱研普在除了有市场关注度非常高相关性很强的这个题材以外 同时是在业绩端对线度也是很高的所以我们不管从短期还是中长期的视角继续做重点推荐那么首先贯慎这边最近的这个股价涨幅也非常好我们还是非常有信心的继续强靠那么对于贯慎现在市场关注度最高的还是在公司的固态电 ...

一、董事会会议召开情况 宁波双林汽车部件股份有限公司（以下简称"公司"）第七届董事会第十次 会议通知于 2025 年 4 月 3 日以电子邮件和电话方式通知了各位董事，董事会于 2025 年 4 月 15 日上午在公司会议室以现场结合通讯方式举行。本次董事会应参 加表决的董事 9 名，实际参加表决的董事 9 名,符合《公司法》和《公司章程》 的规定。 二、董事会会议审议情况 会议由董事长邬建斌先生主持，各董事表决通过了以下议案： 1、审议通过了《关于公司 2024 年度董事会工作报告的议案》 《宁波双林汽车部件股份有限公司 2024 年度董事会工作报告》的具体内容 详见巨潮资讯网刊登的《宁波双林汽车部件股份有限公司 2024 年年度报告》第 三节"管理层讨论与分析"部分。 证券代码：300100 证券简称：双林股份 公告编号：2025-018 宁波双林汽车部件股份有限公司 第七届董事会第十次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 公司独立董事程峰先生（已任期届满离任）、赵意奋女士、靳明先生、王民 权先生分别向董事会提交了《2024 年度独 ...

证券代码：300100 证券简称：双林股份 公告编号：2025-027 宁波双林汽车部件股份有限公司 关于会计政策变更的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 宁波双林汽车部件股份有限公司（以下简称"公司"）根据中华人民共和国 财政部（以下简称"财政部"）印发的相关规定变更相应的会计政策，具体变更 情况如下： 一、会计政策变更的概述 （一）变更原因 2024 年 12 月 6 日，财政部发布了《关于印发<企业会计准则解释第 18 号>的 通知》（财会〔2024〕24 号，以下简称"18 号准则解释），规定了"关于浮动收 费法下作为基础项目持有的投资性房地产的后续计量"和"关于不属于单项履约 义务的保证类质量保证的会计处理"的内容，自印发之日起施行，允许企业自发 布年度提前执行。 根据《深圳证券交易所创业板股票上市规则》、《深圳证券交易所上市公司自 律监管指引第 2 号——创业板上市公司规范运作》等有关规定，本次会计政策变 更无需提交董事会及股东大会审议。 （二）变更前公司实施的会计政策 本次会计政策变更前，公司执行财政部发布的《企业会计准则——基 ...