Financial Performance - The company achieved operating revenue of RMB 1,455.26 million, a decrease of 27.32% compared to the same period last year[4]. - The operating profit was RMB -147.36 million, an increase of 90.91% year-on-year[4]. - The total profit amounted to RMB -152.16 million, reflecting a year-on-year increase of 90.65%[4]. - The net profit reached RMB -132.12 million, which is a 92.25% increase compared to the previous year[4]. - The company's operating revenue for 2024 was ¥1,455,259,894.91, a decrease of 27.32% compared to ¥2,002,356,655.27 in 2023[22]. - The net profit attributable to shareholders for 2024 was ¥119,967,933.25, representing a significant increase of 92.93% from ¥1,696,043,151.00 in 2023[22]. - The net cash flow from operating activities for 2024 was ¥105,163,527.15, a decrease of 147.72% compared to ¥171,937,477.00 in 2023[22]. - The total assets at the end of 2024 were ¥2,845,559,651.35, down 12.95% from ¥3,268,946,290.00 at the end of 2023[22]. - The company reported a basic earnings per share of -0.24 for 2024, an improvement of 92.96% from -3.41 in 2023[22]. - The company reported a net profit of CNY -13,212.15 million, an increase of 92.25% year-on-year, indicating improved loss management[62]. Impairment and Provisions - The company has made provisions for credit impairment losses and asset impairment totaling RMB 101.43 million[4]. - The company reduced credit and asset impairment losses to 10.14 million yuan in 2024, down over 90% from 1.739 billion yuan in the same period of 2023[53]. - The company reported a net profit of -$13.21 million, significantly impacted by credit impairment losses and asset impairment losses totaling -$10.14 million[87]. Industry Trends and Market Outlook - The real estate industry, a major sector for the company's subsidiary, continues to face downward pressure despite increased policy support[4]. - Future plans or projections mentioned in the report do not constitute a substantive commitment to investors, highlighting the need for risk awareness[6]. - The report emphasizes the importance of understanding the differences between plans, forecasts, and commitments[6]. - The market size of China's smart city ICT is projected to reach RMB 939.71 billion in 2024, with a CAGR of 7.1% expected from 2023 to 2028[35]. - By 2030, China's hydrogen demand is forecasted to reach approximately 37.15 million tons, accounting for about 5% of total energy consumption[36]. Strategic Focus and Business Development - The company is focusing on risk management in its future development outlook[5]. - The company aims to achieve its "smart + dual carbon" strategic goals through innovation and diversification in new materials and energy sectors[38]. - The company is actively expanding into energy storage and photovoltaic projects, aiming to diversify its business[38]. - The company is focusing on the production of electrical equipment, smart city services, and renewable energy, particularly in the hydrogen sector[38]. - The company has established a diversified industrial matrix of "smart electrical + new energy + new materials" to reduce reliance on the real estate sector[52]. Research and Development - The company is investing heavily in R&D, with a budget allocation of 200 million for new technology development in 2024[198]. - The company is focusing on the development of high-performance nano lithium battery materials, which will further promote domestic substitution in the lithium battery material sector[59]. - The company aims to enhance its technology competitiveness by developing high-precision DC arc detection algorithms and devices to fill the technical gap in DC arc safety monitoring[82]. - The R&D expenditure as a percentage of operating revenue for 2024 is 2.22%, down from 3.71% in 2023[83]. - The number of R&D personnel dropped by 43.88% from 98 in 2023 to 55 in 2024, with a corresponding decrease in the proportion of R&D staff from 9.75% to 6.80%[83]. Governance and Management - The company has established a governance structure that complies with the requirements of the Company Law and relevant regulations, ensuring independent operation of the board and management[123]. - The board consists of 9 members, including 3 independent directors, fulfilling legal requirements for composition and attendance[124]. - The company maintains independence in business, assets, personnel, financial, and institutional aspects from its controlling shareholder, ensuring a complete business system[127]. - The company has a structured approach to governance, with a clear delineation of roles and responsibilities among its board members[145]. - The company is committed to transparency in its governance and management practices, ensuring that all changes are communicated effectively to stakeholders[137]. Social Responsibility and Sustainability - The company actively participates in social responsibility initiatives, focusing on education support and rural revitalization, including donating 1,696 sets of school uniforms to students[190]. - The company has established a scholarship fund, "Shenghui Dream Scholarship," to assist underprivileged students in completing their education[190]. - The company has committed to sustainability initiatives, with a goal to reduce carbon emissions by 50% by 2025[198]. - The company has passed the ISO 14001:2015 environmental management system certification, indicating a systematic approach to environmental protection[183]. Cash Flow and Investment - Operating cash inflow decreased by 45.16% to $1.36 billion compared to $2.47 billion in 2023[85]. - Investment cash inflow decreased by 95.69% to $177.15 million compared to $4.11 billion in 2023[85]. - The net increase in cash and cash equivalents was -$155.74 million, a decrease of 16.81% from -$133.33 million in 2023[85]. - The company reported a fair value loss of 90.1336 million CNY due to declines in stock prices of Guohong Hydrogen Energy and asset evaluations of Feichi Automobile[108]. Customer and Market Engagement - The company has successfully expanded its customer base in municipal engineering, rail transit, and public construction, increasing the revenue share from non-real estate clients[54]. - The company has a stable and high-quality customer channel, with a nationwide sales network and after-sales service system, ensuring rapid response to customer needs[58]. - The top five customers accounted for 63.92% of total annual sales, with the largest customer, 碧桂园地产集团有限公司, contributing ¥754.65 million, or 51.86% of total sales[74]. Employee and Compensation - The total number of employees at the end of the reporting period is 812, with 387 in the parent company and 425 in major subsidiaries[156]. - The company has a competitive salary policy that includes basic salary, performance rewards, seniority pay, year-end bonuses, and social security benefits[157]. - The company has established a clear career development path for all employees, linking compensation to performance and contributions[158]. Legal and Compliance - The company has not faced any significant legal penalties or administrative sanctions since January 1, 2015, indicating compliance with various laws and regulations[196]. - The company has maintained a clean record with no major lawsuits or arbitration cases in the last thirty-six months[196]. - The company has fully paid its registered capital, with no disputes regarding major assets or core technologies[196].

Financial Performance - The company's revenue for Q1 2025 was ¥167,501,334.01, a decrease of 37.24% compared to ¥266,878,959.10 in the same period last year[5] - The net profit attributable to shareholders was -¥12,870,241.08, representing a decline of 351.58% from ¥5,115,858.22 in the previous year[5] - The net cash flow from operating activities was -¥60,452,762.00, a decrease of 77.70% compared to -¥34,020,486.42 in the same period last year[5] - The company reported a basic earnings per share of -¥0.03, a decrease of 400.00% from ¥0.01 in the same period last year[5] - Net profit for the period was a loss of ¥14,450,897.39 compared to a profit of ¥3,230,629.71 in the previous period, indicating a significant downturn[20] - Basic and diluted earnings per share were both reported at -¥0.03, compared to ¥0.01 in the previous period, reflecting a negative shift in profitability[21] Asset and Liability Changes - The total assets at the end of the reporting period were ¥2,757,669,210.16, down 3.09% from ¥2,845,559,651.35 at the end of the previous year[5] - Total liabilities decreased to ¥1,436,353,593.90 from ¥1,504,892,014.07, reflecting a reduction of about 4.5%[17] - The total equity attributable to the parent company decreased to ¥1,328,134,837.98 from ¥1,346,164,224.58, a drop of about 1.3%[17] Cash Flow Analysis - The company's cash flow from operating activities showed a significant change, impacting liquidity and operational flexibility[22] - Cash inflows from operating activities totaled $177.35 million, down 36.4% from $278.82 million in the prior period[23] - Cash outflows from operating activities were $237.81 million, a decrease of 24% from $312.84 million year-over-year[23] - The net cash flow from investing activities was -$15.00 million, an improvement from -$29.97 million in the previous period[24] - Cash inflows from investing activities were $57,000, significantly lower than $70.31 million in the prior period[24] - Cash outflows from investing activities decreased to $15.06 million from $100.28 million year-over-year[24] - The net cash flow from financing activities was -$51.68 million, worsening from -$22.12 million in the previous period[24] - Cash inflows from financing activities increased to $45.08 million from $40.14 million year-over-year[24] - Cash outflows from financing activities rose to $96.76 million, compared to $62.26 million in the prior period[24] - The ending cash and cash equivalents balance was $128.92 million, down from $351.82 million in the previous period[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,723, with the top ten shareholders holding a combined 47.03% of the shares[9] - No changes in the shareholding structure or significant shareholder activities were reported[12] Operational Metrics - The company experienced a significant increase in asset impairment losses, which rose by 2860.70% to ¥3,542,539.18 due to the reversal of contract asset impairment losses[8] - The company reported a decrease in financial expenses by 46.10% to ¥978,728.60, attributed to increased interest expenses[8] - Research and development expenses were ¥5,639,631.08, down from ¥6,490,025.83, indicating a focus on cost management[20] - The company reported a decrease in contract assets to ¥60,061,366.75 from ¥69,994,957.46, a decline of approximately 12.5%[16] Inventory and Receivables - Accounts receivable increased slightly from CNY 836,125,428.93 to CNY 839,653,376.31, showing a growth of about 0.3%[15] - Inventory rose from CNY 475,084,293.09 to CNY 500,995,628.02, indicating an increase of approximately 5.4%[15] - Other receivables decreased from CNY 83,440,720.82 to CNY 73,043,540.89, reflecting a decline of about 12.5%[15] - The company reported a significant increase in financing receivables from CNY 7,142,453.43 to CNY 20,916,540.08, which is an increase of approximately 194.5%[15] Future Outlook and Developments - The company has not disclosed any new product developments or technological advancements during the call[14] - There were no updates on market expansion or mergers and acquisitions mentioned in the conference call[14] - The company did not provide specific future guidance or performance outlook for the upcoming quarters[14]

一、2024 年度利润分配预案 经天健会计师事务所（特殊普通合伙）审计，公司 2024 年度合并报表归属 于上市公司股东的净利润为亏损 119,967,933.25 元。截至 2024 年 12 月 31 日， 合并报表累计未分配利润为亏损 1,077,398,775.03 元，母公司未分配利润为亏损 1,003,383,574.02 元。 证券代码：300423 证券简称： 昇辉科技 公告编号：2025-012 昇辉智能科技股份有限公司 关于2024年度拟不进行利润分配的专项说明 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。 昇辉智能科技股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日召开 第五届董事会第九次会议和第五届监事会第八次会议，分别审议通过了《关于公 司 2024 年度利润分配预案的议案》，本预案尚需提交公司 2024 年年度股东会审 议。现将具体情况公告如下： 三、2024 年度拟不进行利润分配的合理性说明 根据中国证券监督管理委员会《关于进一步落实上市公司现金分红有关事项 的通知》《上市公司监管指引第 3 号—上市公司现金分 ...

证券代码：300423 证券简称：昇辉科技 公告编号：2025-006 昇辉智能科技股份有限公司 关于筹划发行股份及支付现金购买资产并募集配套 资金事项的停牌进展公告 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。 昇辉智能科技股份有限公司（以下简称"公司"）正在筹划发行股份及支付现 金购买资产并募集配套资金事项（以下简称"本次交易"或"本次重组"），本次交 易预计构成重大资产重组，不构成重组上市。因有关事项尚存不确定性，为了维 护投资者利益，避免对公司证券交易造成重大影响，根据深圳证券交易所的相关 规定，经公司向深圳证券交易所申请，公司股票（证券简称：昇辉科技，证券代 码：300423）自 2025 年 4 月 15 日（星期二）开市起开始停牌。 截至本公告披露日，公司与相关各方正在就本次交易方案进行协商、论证和 确认。鉴于本次交易的相关事项尚存在不确定性，为维护投资者利益，避免公司 股价异常波动，根据深圳证券交易所的相关规定，公司股票继续停牌。停牌期间， 公司将积极推进各项工作，并根据本次交易相关事项的进展情况及时履行信息披 露义务。待相关事项确定后，公司 ...

转自：经济导报 文 | 经济导报 于婉凝 值得一提的是，赫普能源曾筹划在A股独立IPO。2020年10月27日，证监会官网显示，赫普能源于当年9 月同中信证券签署上市辅导协议，并在北京证监局备案，拟创业板挂牌上市。 根据公告，近日，昇辉科技与赫普能源相关股东签署了《股份收购意向协议》。根据协议，昇辉科技拟 通过发行股份及支付现金方式购买赫普能源控制权，并募集配套资金。本次交易的具体方案待由协议各 方及标的公司股东进一步协商确定，并签署正式交易协议。 公告中提到，本次交易对方的范围尚未最终确定，最终确定的交易对方以后续公告的重组预案或重组报 告书披露的信息为准。此外，赫普能源相关股权的最终交易价格，以昇辉科技聘请的具有证券期货业务 资格的评估机构出具的资产评估报告确认的评估值为基础，由各方协商确定，待评估报告完成后，各方 将在本次交易的正式协议中确定本次交易的交易对价。 赫普能源官网显示，赫普能源是服务于新能源电力消纳、火电灵活性与抽汽蓄能改造和综合能源服务领 域的国家高新技术企业、是国内较早开展电力系统灵活性提升创新实践的企业，现已成为全国火电厂调 峰调频领域的龙头企业。该公司始创于2016年7月，注册资本1 ...

星标 ★ IPO日报 精彩文章第一时间推送 近日，昇辉智能科技股份有限公司（下称"昇辉科技"，300423.SZ）披露公告称， 公司拟通过发行股份及支付现金方式购买 赫普 能源环境科技股份有限公司（以下简称"赫普能源"）控制权， 并募集配套资金。 昇辉科技表示，本次交易事项尚处于筹划阶段，初步确定的交易对方为赫普绿色储能技术（北京）有限公司、赫普蓝天节能技术服务 （北京）有限公司、赫普阳光新能源技术服务（北京）有限公司、赫普智慧（景宁）能源技术开发有限公司。 本次交易预计构成重大资产重组，不构成重组上市。 制图：佘诗婕 曾筹划IPO 值得一提的是，赫普能源在2020年也曾筹划过独立IPO，但未果。 此外，2021年，A股公司西子洁能（原杭锅股份，002534.SZ）还曾披露过拟通过受让股份及增资的方式取得赫普能源51%股权。彼时赫 普能源整体投前估值不超过30亿元。 根据彼时的公告，2020年以及2021年上半年，赫普能源的收入分别为2.96亿元、1.48亿元，归母净利润分别为9696.22万元、7461.5万 元。 但上述交易并未成功。 此后，经各方协商，最终确定赫普能源整体交易估值为13.6亿元，交易方案 ...

Group 1 - The uncertainty shock has led to a call for more certainty in the Chinese market, with a positive outlook on financial stocks due to valuation improvements, particularly focusing on brokerages, insurance, and banks [1][22]. - The 137th Canton Fair and the third New Energy Vehicle Innovation Technology and Industry Development Forum are upcoming events that may influence market dynamics [2]. - The U.S. stock market saw a broad increase, with the Dow Jones Industrial Average rising by 312.08 points (0.78%), the Nasdaq up by 107.02 points (0.64%), and the S&P 500 gaining 42.61 points (0.79%) [4]. Group 2 - Goldman Sachs reported a first-quarter net revenue of $15.06 billion and a net profit of $4.74 billion, with a stock buyback plan approved for up to $40 billion [7]. - Ningde Times announced a first-quarter net profit of 13.963 billion yuan, a year-on-year increase of 32.85%, with total revenue of 84.705 billion yuan, up 6.18% [9]. - Several companies, including Yuyuan New Materials and Kelu Electronics, reported significant year-on-year profit increases, with Yuyuan projecting a growth of 13076% to 16370% and Kelu reporting an increase of 857.45% [8][11].

本报讯 （记者王僖）4月14日晚，昇辉智能科技股份有限公司（以下简称"昇辉科技"，股票代码：300423）发布公告称， 公司正在筹划发行股份及支付现金购买资产并募集配套资金，拟拿下赫普能源环境科技股份有限公司（以下简称"赫普能源"） 控股权。根据深圳证券交易所的相关规定，公司股票自4月15日起停牌。本次交易预计构成重大资产重组，不构成重组上市。 公告显示，本次交易事项尚处于筹划阶段，初步确定的交易对方为赫普绿色储能技术（北京）有限公司、赫普蓝天节能技 术服务（北京）有限公司、赫普阳光新能源技术服务（北京）有限公司、赫普智慧（景宁）能源技术开发有限公司。本次交易 对方的范围尚未最终确定，公司预计在不超过10个交易日的时间内披露本次交易方案，即在2025年4月29日前按照《公开发行 证券的公司信息披露内容与格式准则第26号——上市公司重大资产重组》的要求披露相关信息。 近期，昇辉科技股价接连大涨。截至4月14日收盘，公司股价收涨9.37%，报8.52元/股，总市值约为42.39亿元。 （编辑 上官梦露） 昇辉科技主营业务为电气成套设备、LED照明与亮化、智慧城市及氢能。近年来，昇辉科技业绩承压明显，2022年、2 ...

Core Viewpoint -昇辉科技 is planning to acquire control of Hep Energy, a well-known player in the energy storage sector, despite facing consecutive net losses. The stock of昇辉科技 has been suspended since April 15 due to this acquisition plan [1][2]. Group 1: Acquisition Details - The acquisition is still in the planning stage, with preliminary counterparties identified as Hep Green Energy Technology (Beijing) Co., Ltd., Hep Blue Sky Energy Service (Beijing) Co., Ltd., Hep Sunshine New Energy Technology Service (Beijing) Co., Ltd., and Hep Wisdom (Jingning) Energy Technology Development Co., Ltd. [1] - Hep Energy was founded in July 2016 with a registered capital of 125 million yuan and has total assets nearing 1 billion yuan. The company operates in over 10 provinces and municipalities in China and has 17 subsidiaries [1]. Group 2: Company Background and Financial Performance -昇辉科技's main business includes electrical equipment, LED lighting, smart city solutions, and hydrogen energy. The company has faced significant pressure on its performance, reporting consecutive net losses in 2022 and 2023, with expectations of continued losses in 2024, albeit with a reduction in the loss amount [2]. - In the secondary market,昇辉科技's stock price has seen a notable increase, rising by 9.37% to 8.52 yuan per share, with a total market capitalization of approximately 4.239 billion yuan as of April 14 [2].

证券代码：300423 证券简称：昇辉科技 公告编号：2025-005 昇辉智能科技股份有限公司 关于筹划发行股份及支付现金购买资产并募集配套资金事项的 停牌公告 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。 一、停牌事由和工作安排 昇辉智能科技股份有限公司（以下简称"公司"）正在筹划发行股份及支付现 金购买资产并募集配套资金事项（以下简称"本次交易"或"本次重组"），本次交 易预计构成重大资产重组，不构成重组上市。因有关事项尚存不确定性，为了维 护投资者利益，避免对公司证券交易造成重大影响，根据深圳证券交易所的相关 规定，经公司向深圳证券交易所申请，公司股票（证券简称：昇辉科技，证券代 码：300423）自 2025 年 4 月 15 日（星期二）开市起开始停牌。 公司预计在不超过 10 个交易日的时间内披露本次交易方案，即在 2025 年 4 月 29 日前按照《公开发行证券的公司信息披露内容与格式准则第 26 号——上市 公司重大资产重组》的要求披露相关信息。 | | | | 企业类型 | 其他股份有限公司(非上市) | | --- | --- | | ...