安科瑞电气股份有限公司 关于首次回购股份暨回购进展情况的公告 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。 安科瑞电气股份有限公司（以下简称"公司"）于2025年4月28日召开第六 届董事会第十三次（临时）会议，审议通过了《关于回购公司股份方案的议案》， 公司拟使用不低于人民币8,000万元（含本数）且不超过人民币15,000万元（含 本数）自有资金以集中竞价交易方式回购公司部分股份，用于实施股权激励计划 或员工持股计划，回购期限为自公司董事会审议通过回购股份方案之日起12个月 内。具体内容详见公司于2025年4月29日披露在巨潮资讯网（www.cninfo.com.cn） 的《关于回购公司股份方案的公告暨回购股份报告书》。 根据《深圳证券交易所上市公司自律监管指引第9号——回购股份》等法律 法规、规范性文件的有关规定，公司应当在首次回购股份事实发生的次一交易日 予以披露，且公司在回购期间应当在每个月的前3个交易日内公告截至上月末的 回购进展情况，现将公司首次回购股份情况公告如下： 一、首次回购公司股份的情况 2025年4月30日，公司通过股份回购专用证券账 ...

金融界2025年5月3日消息，国家知识产权局信息显示，安科瑞电气股份有限公司、江苏安科瑞电器制造 有限公司、江苏安科瑞微电网研究院有限公司申请一项名为"一种标准化数图转换方法和电子设备"的专 利，公开号CN119903824A，申请日期为2024年12月。 天眼查资料显示，安科瑞电气股份有限公司，成立于2003年，位于上海市，是一家以从事电力、热力生 产和供应业为主的企业。企业注册资本21471.6125万人民币。通过天眼查大数据分析，安科瑞电气股份 有限公司共对外投资了19家企业，参与招投标项目412次，财产线索方面有商标信息116条，专利信息 849条，此外企业还拥有行政许可57个。 江苏安科瑞电器制造有限公司，成立于2004年，位于无锡市，是一家以从事仪器仪表制造业为主的企 业。企业注册资本21686.02万人民币。通过天眼查大数据分析，江苏安科瑞电器制造有限公司共对外投 资了1家企业，参与招投标项目59次，专利信息757条，此外企业还拥有行政许可50个。 江苏安科瑞微电网研究院有限公司，成立于2019年，位于无锡市，是一家以从事研究和试验发展为主的 企业。企业注册资本3500万人民币。通过天眼查大数据 ...

与会董事审议通过了如下议案： 一、审议通过了《关于回购公司股份方案的议案》 基于对公司未来发展的信心和对公司价值的认可，为增强投资者对公司的投资 信心，同时为进一步健全公司长效激励机制，充分调动员工的积极性，有效地将股 东利益、公司利益和员工个人利益紧密结合在一起，促进公司健康、稳定、可持续 发展，在综合考虑公司业务发展前景、经营情况、财务状况、盈利能力等基础上， 公司拟使用不低于人民币 8,000 万元（含本数）且不超过人民币 15,000 万元（含本 数）自有资金以集中竞价交易方式回购部分股份，并在未来适宜时机用于股权激励 计划或员工持股计划，回购期限为自公司董事会审议通过本次回购方案之日起 12 个 月内。 《关于回购公司股份方案的公告暨回购股份报告书》的具体内容详见中国证监 会指定创业板信息披露网站巨潮资讯网 （http://www.cninfo.com.cn）。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 特此公告。 证券代码：300286 证券简称：安科瑞 公告编号：2025-036 安科瑞电气股份有限公司 第六届董事会第十三次（临时）会议决议的公告 本公司及董事会全体成员保证信息披露的 ...

安科瑞电气股份有限公司（以下简称"公司"）拟使用自有资金以集中竞价交易 方式回购公司部分人民币普通股 A 股股份。 （一）回购资金总额：拟使用不低于人民币 8,000 万元（含本数）且不超过人民 币 15,000 万元（含本数）自有资金。 （二）回购价格：不超过人民币 30 元/股（含），该回购价格上限不超过公司董 事会审议通过回购股份方案决议前三十个交易日公司股票交易均价的 150%。 （三）回购数量：假设按照回购资金总额上限 15,000 万元、回购价格上限 30 元/ 股进行测算，预计回购股份数量为 5,000,000 股，约占公司当前总股本的 1.99%；按照 回购资金总额下限 8,000 万元、回购价格上限 30 元/股进行测算，预计回购股份数量 为 2,666,666 股，约占公司当前总股本的 1.06%，具体回购股份的数量以回购结束时实 际回购的股份数量为准。 （四）回购期限：自公司董事会审议通过回购股份方案之日起 12 个月内。 证券代码：300286 证券简称：安科瑞 公告编号：2025-037 安科瑞电气股份有限公司 关于回购公司股份方案的公告暨回购股份报告书 本公司及董事会全体成员保证信 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [4]. Core Views - The company experienced a significant improvement in profitability in Q1 2025, with a 15.33% year-on-year increase in net profit, despite a 5.24% decline in revenue for 2024 [1][2]. - The company is focusing on expanding its presence in both domestic and overseas markets, particularly in high-growth sectors such as new energy and virtual power plants [3]. - The report highlights the company's strategic shift towards enhancing its technical sales team and product offerings, which is expected to drive future growth [3]. Summary by Sections Financial Performance - In 2024, the company reported revenue of 1.063 billion yuan, a decrease of 5.24% year-on-year, and a net profit of 170 million yuan, down 15.68% [1][5]. - For Q1 2025, the company achieved revenue of 243 million yuan, a slight increase of 0.58% year-on-year, and a net profit of 52 million yuan, reflecting a significant 358.99% increase from the previous quarter [1][2]. Business Segments - Revenue from power monitoring and substation comprehensive monitoring products decreased by 12.12% to 436 million yuan, while energy efficiency management products saw a slight decline of 0.57% to 355 million yuan [2]. - The company reported a 7.43% increase in revenue from power sensors, reaching 120 million yuan, and a notable 24.46% growth in microgrid-related products, totaling 57 million yuan [2]. Market Strategy - The company is actively promoting its products in the domestic market, focusing on sectors like new energy and electricity reform, while also expanding its overseas operations in regions such as Southeast Asia and Europe [3]. - The overseas revenue grew by 33.22% in 2024, reaching 44 million yuan, showcasing strong growth momentum in international markets [3]. Profitability and Valuation - The report projects a decline in net profit for 2025 to 238 million yuan, a decrease of 21% from previous estimates, with corresponding EPS of 0.95 yuan [4][5]. - The company's P/E ratios for 2025-2027 are projected to be 24, 20, and 17, respectively, indicating a favorable valuation outlook [4][5].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [4][6]. Core Views - The company experienced a significant improvement in profitability in Q1 2025, with a 15.33% year-on-year increase in net profit, despite a 5.24% decrease in revenue for 2024 [1][2]. - The company is focusing on expanding its presence in both domestic and overseas markets, particularly in high-growth sectors such as renewable energy and energy management [3][4]. - The report highlights the company's efforts to enhance its sales capabilities through technical training and product upgrades, which are expected to drive future growth [3][4]. Summary by Sections Financial Performance - In 2024, the company reported revenue of 1.063 billion yuan, a decrease of 5.24% year-on-year, and a net profit of 170 million yuan, down 15.68% [1][5]. - For Q1 2025, revenue reached 243 million yuan, a slight increase of 0.58% year-on-year, while net profit surged by 15.33% [1][2]. - The company's gross margin for 2024 was 44.67%, down from the previous year, but improved to 47.50% in Q1 2025 [2][4]. Business Segments - Revenue from power monitoring and substation monitoring products decreased by 12.12% to 436 million yuan in 2024, while energy efficiency management products saw a slight decline of 0.57% to 355 million yuan [2]. - The company reported a 7.43% increase in revenue from power sensors, reaching 120 million yuan, and a notable 24.46% growth in microgrid-related products [2][3]. Market Strategy - The company is strategically targeting high-growth domestic sectors such as new energy and virtual power plants, while also expanding its overseas footprint in regions like Southeast Asia and Europe [3][4]. - The overseas revenue grew by 33.22% to 44 million yuan in 2024, showcasing strong growth momentum in international markets [3][4]. Profitability Forecast - The report projects net profits for 2025, 2026, and 2027 to be 238 million yuan, 284 million yuan, and 335 million yuan respectively, reflecting a downward adjustment of 21% and 25% for the first two years [4][5]. - The expected earnings per share (EPS) for the same years are 0.95 yuan, 1.13 yuan, and 1.34 yuan, with corresponding price-to-earnings (P/E) ratios of 24, 20, and 17 [4][5].

证券研究报告 安科瑞 (300286 CH) Q1 业绩初步回暖，看好全年业绩修复 | 华泰研究 | | | 季报点评 | | --- | --- | --- | --- | | 2025 年 | 4 月 | 22 日│中国内地 | 计算机应用 | 安科瑞 25Q1 实现营收 2.43 亿元（yoy+0.58%、qoq-1.75%），归母净利 5,218 万元（yoy+15.33%、qoq+358.99%），扣非净利 4,993 万元（yoy+25.11%）。 公司 25Q1 业务初步修复，收入同比微增，盈利同环比较快增长，看好国家 政策+经营改善双驱动下，公司 25 年业绩加速修复，维持"买入"评级。 毛利率同比提升，费用管控见效，净利率同比提升 2.76pct 2025Q1安科瑞整体毛利率为 47.50%，同比提升 0.47pct，环比提升 8.01pct。 从全年看，随着公司软件业务占比提升及海外高毛利业务推进，毛利率有望 持续优化。2025Q1 公司销售/管理/研发费用率分别为 11.13%/5.78%/ 10.31%，分别同比+0.44pct/-0.72pct /-1.27pct，费用管控有成效。受 ...

• 安科瑞 2025 年一季度业绩显著改善，销售额出现拐点，利润增长 15%， 毛利率达 47.5%，主要得益于前期降本措施的逐步消化，预计毛利率将稳 定提升。 • 公司积极把握双碳目标、零碳、绿电、电改及虚拟电厂发展机遇，企业微 电网在虚拟电厂中发挥关键作用，一季度 55%项目涉及新能源、人工智能 优化及行业应用。 • 安科瑞销售团队由商务型向技术型转变，推广解决方案和行业标准化方案， 项目体量增大，积极拓展新能源客户，与大型企业合作开发虚拟电厂平台。 • 生产体系整合架构调整，加强柔性化和自动化管理，有效降低生产成本， 3 月份单月毛利率可能达到 50%以上，精细化管理效果显著。 • 国内市场通过调整销售模式，提升项目落地转化率和成功率，加强与大型 集团企业合作，推动商业牵引与技术团队协同工作，签订大量大客户合作 协议。 • 公司加快新能源消纳及虚拟电厂业务研发，推出 3.0 智慧能源平台，该产 品在国内市场需求旺盛，订单爆发式增长，聚焦精兵强将研发该平台。 • 海外业务增长迅速，2024 年增长超过 30%，内部统计实际增速接近 80% 到 90%，主要受益于中国制造产品竞争力强，成本低于海外竞争对手。 ...

安科瑞（300286）公告，2025年第一季度营收为2.43亿元，同比增长0.58%；净利润为5217.61万元，同 比增长15.33%。 ...

Financial Performance - Revenue for Q1 2025 was CNY 243,255,239.93, a slight increase of 0.58% compared to CNY 241,850,719.22 in the same period last year[5] - Net profit attributable to shareholders increased by 15.33% to CNY 52,176,139.70 from CNY 45,239,823.41 year-on-year[5] - Net profit excluding non-recurring items rose by 25.11% to CNY 49,925,245.43 compared to CNY 39,905,359.83 in the previous year[5] - Basic earnings per share rose by 19.05% to CNY 0.25 from CNY 0.21 in the same period last year[5] - Net profit for the current period was ¥52,157,490.39, up from ¥45,175,607.68, indicating an increase of approximately 15.5%[19] - Earnings per share (EPS) improved to ¥0.25 from ¥0.21, reflecting a growth of about 19%[20] Assets and Equity - Total assets grew by 42.58% to CNY 2,614,709,276.03 from CNY 1,833,830,264.10 at the end of the previous year[5] - Shareholders' equity increased by 60.64% to CNY 2,217,557,719.75 from CNY 1,380,486,057.14 at the end of last year[5] - Total assets increased to ¥2,614,709,276.03 from ¥1,833,830,264.10, showing a growth of approximately 42.6%[16] - The equity attributable to shareholders of the parent company rose to ¥2,217,557,719.75 from ¥1,380,486,057.14, an increase of approximately 60.5%[16] Cash Flow - Net cash flow from operating activities decreased by 57.46% to CNY 22,467,323.36 from CNY 52,810,410.72 year-on-year[5] - Operating cash inflow for the current period was $295,002,540.07, a decrease of 3.2% from $304,946,217.68 in the previous period[21] - Net cash flow from operating activities decreased significantly to $22,467,323.36, down 57.6% from $52,810,410.72 in the previous period[21] - Total cash inflow from investment activities was $211,094,304.78, down 40.7% from $356,529,985.24 in the previous period[22] - Net cash flow from investment activities was negative at -$56,214,070.98, compared to a positive $24,758,063.05 in the previous period[22] - The net increase in cash and cash equivalents for the current period was $753,515,296.61, a significant increase from $77,621,546.16 in the previous period[22] - The ending balance of cash and cash equivalents reached $1,181,748,114.53, compared to $394,658,784.82 in the previous period[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,487[11] - The top 10 shareholders hold a combined 54.25% of the shares, with the largest shareholder, Zhou Zhong, owning 18.26%[11] - The company plans to distribute cash dividends of RMB 3 per 10 shares, totaling RMB 75,235,396.50[12] Investments and Fundraising - The company reported a significant increase of 609.92% in capital reserves due to the receipt of targeted fundraising[9] - Investment income surged by 250.47% compared to the previous year, attributed to dividends received from Qianhang Partnership[9] - The company has approved a private placement to raise up to RMB 80 million, with an actual issuance of 36,068,530 shares at RMB 22.18 per share, totaling approximately RMB 800 million[12] Current Assets and Liabilities - Total current assets increased to RMB 2,223,852,252.11 from RMB 1,422,624,326.91, reflecting a growth of approximately 56.4%[14] - Cash and cash equivalents rose to RMB 1,184,782,698.22 from RMB 429,909,782.15, marking a significant increase of about 175.5%[14] - The company’s long-term equity investments decreased to RMB 39,407,701.94 from RMB 49,956,537.58, a decline of approximately 21.1%[14] - The company’s fixed assets decreased to RMB 195,443,078.92 from RMB 200,473,978.90, a reduction of about 2.5%[14] - Total liabilities decreased to ¥396,041,758.41 from ¥452,715,759.78, a reduction of about 12.5%[16] Research and Development - Research and development expenses decreased to ¥25,081,325.63 from ¥28,000,224.18, a decline of about 10.3%[19] Other Financial Information - Other comprehensive income after tax showed a loss of ¥325,508.17 compared to a loss of ¥1,825,074.14 in the previous period, indicating an improvement[19] - The company reported a profit before tax of ¥59,321,475.99, up from ¥55,820,371.75, reflecting an increase of approximately 4.5%[19] Audit Status - The company’s first quarter report was not audited[23]