Core Viewpoint - In 2024, Shudao Equipment achieved a record high operating revenue of 862 million yuan, representing a year-on-year growth of 28.90%, with a two-year average compound growth rate of 90% [1][2] Group 1: Financial Performance - The company reported a significant improvement in profitability, with a gross margin reaching its best level since 2019 and a net profit attributable to shareholders exceeding 72 million yuan, also a historical high [1] - The company aims to maintain steady growth in operating performance by focusing on its core business and expanding sustainably [2] Group 2: Business Expansion and Strategy - Shudao Equipment is recognized as a national "specialized, refined, distinctive, and innovative" small giant enterprise, with business expansion closely aligned with its core cryogenic technology [1] - The company is actively pursuing overseas market opportunities, particularly in Southeast Asia, Central Asia, and Central Africa, in line with the Belt and Road Initiative [2] - Recent successful projects include the completion of a 7000 liquid air separation project in Indonesia and the export of a 3000 cubic meter storage tank and vaporizer to Nigeria, enhancing the company's international competitiveness [2] Group 3: Collaboration and Innovation - The collaboration with Toyota on hydrogen fuel cell projects focuses on technology research and market expansion, aiming for resource integration to achieve technological breakthroughs and market share growth [1] - The company plans to continue leveraging its technological innovation capabilities and the resources of Shudao Group to support major national development strategies, including carbon neutrality and the construction of the Chengdu-Chongqing economic circle [2]

Group 1: Hydrogen Energy Development - The company plans to establish a diversified hydrogen supply system by integrating existing regional resources and developing industrial by-product hydrogen projects, aiming for low-cost and sustainable hydrogen supply [2] - Focus on logistics transportation, promoting hydrogen-powered heavy trucks and building an integrated "hydrogen-station-vehicle" operational platform to scale hydrogen vehicle applications [2] - Future replication of this model in mining and industrial parks, optimizing cost-effectiveness through green hydrogen transformation and technological innovation [2] Group 2: Market Expansion and Innovation - The company aims to leverage the "Transportation Power" strategy to enhance market expansion and technological innovation over the next five years [3] - Plans to upgrade existing products and participate in energy infrastructure construction along the "Belt and Road" initiative, focusing on hydrogen fuel cell technology in collaboration with Toyota [3] - The company will explore hydrogen applications in transportation and low-altitude economy sectors to support market expansion and technological development [3] Group 3: Financial Performance - In 2024, the company achieved an operating income of 862 million yuan, a year-on-year increase of 28.90%, and a net profit of 72.37 million yuan, up 121.67% from the previous year [4] - New contract value signed in 2024 reached approximately 1.335 billion yuan, reflecting a year-on-year increase of 33.10% [4] - Interest income for 2024 was 9,327,405.60 yuan, showing a decline compared to the previous year [3] Group 4: Research and Development - The company has gradually increased R&D investment, holding a total of 132 authorized patents by the end of 2024 [6] - Significant achievements include seven invention patents and seven utility model patents granted in 2024, focusing on hydrogen production and LNG systems [6] - Successful operation of the 7000-grade liquid air separation device in an overseas project and completion of various technology projects [7] Group 5: Strategic Goals and Future Outlook - The company’s core operational goals for 2025 include focusing on main responsibilities, enhancing business expansion, and ensuring steady growth in performance [8] - Plans to develop four major business segments: deep-cooling technology manufacturing, gas investment operations, clean energy investment operations, and transportation service equipment manufacturing [8] - The company will actively explore external development opportunities through strategic investments and mergers to inject new vitality and growth momentum [8]

Financial Performance - The company reported a basic earnings per share of -0.0040 yuan for Q1 2025, a decrease of 116.67% compared to 0.0240 yuan in Q1 2024 [1] - The net profit for Q1 2025 was -0.01 billion yuan, reflecting a decline of 125% from 0.04 billion yuan in Q1 2024 [1] - The operating revenue increased to 0.51 billion yuan in Q1 2025, up 27.5% from 0.4 billion yuan in Q1 2024 [1] - The return on equity was -0.06% in Q1 2025, a significant drop from 0.39% in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 72.0948 million shares, accounting for 49.68% of the circulating shares, with a decrease of 3.7394 million shares compared to the previous period [1] - The largest shareholder, Sichuan Shudao Transportation Service Group Co., Ltd., holds 48.1336 million shares, representing 33.17% of the total share capital, with no change [2] - Other notable shareholders include Sichuan Jianyang Port Tong Economic and Technological Development Co., Ltd., which decreased its holdings by 124.01 million shares [2] 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 ¥51,459,839.55, representing a 28.10% increase compared to ¥40,172,357.47 in the same period last year[4] - The net profit attributable to shareholders was -¥655,941.44, a decrease of 116.57% from ¥3,959,370.48 in the previous year[7] - The net cash flow from operating activities was -¥59,731,976.18, down from ¥76,670,469.08 in the same period last year[4] - Total operating revenue for the current period reached ¥51,459,839.55, an increase from ¥40,172,357.47 in the previous period, representing a growth of approximately 28.5%[16] - Net profit for the current period was -¥803,612.93, a significant decline from ¥3,936,932.38 in the previous period, indicating a negative shift in profitability[16] - The total comprehensive income for the current period was -¥803,612.93, compared to ¥3,936,932.38 in the previous period, indicating a decline in overall financial performance[17] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,969,939,646.85, a decrease of 6.23% from ¥2,100,830,514.65 at the end of the previous year[4] - Total current assets decreased to 1.59 billion yuan from 1.73 billion yuan, a reduction of approximately 8.06%[13] - Total liabilities decreased to 848.08 million yuan from 981.06 million yuan, a decline of about 13.54%[14] - The company's total equity increased slightly to 1.12 billion yuan from 1.12 billion yuan, showing a marginal growth of approximately 0.19%[14] - The company’s total assets decreased to 1.97 billion yuan from 2.10 billion yuan, a reduction of about 5.88%[13] Cash Flow and Investments - The company's cash and cash equivalents increased to 560.32 million yuan from 479.93 million yuan, reflecting a growth of approximately 16.73%[13] - Cash and cash equivalents at the end of the period totaled ¥529,467,175.34, up from ¥166,019,492.98 at the end of the previous period, reflecting a substantial increase[21] - The company received cash inflows from investment activities amounting to ¥264,605,602.74, significantly higher than the previous period's cash inflow of ¥300.00[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,907[9] - The largest shareholder, Shudao Transportation Service Group Co., Ltd., holds a 29.11% stake in the company[9] Management and Expenses - Management expenses increased by 52.90% to ¥21,851,160.65 due to the establishment of a new company and increased labor costs[6] - Research and development expenses were ¥5,672,889.32, slightly down from ¥6,279,290.18 in the previous period[16] - The company incurred a financial expense of -¥1,866,415.95, compared to -¥1,353,260.15 in the previous period, indicating an increase in financial costs[16] Financing and Acquisitions - The company reported a significant increase in accounts receivable financing, which rose by 141.39% to ¥1,599,405.82[6] - The company plans to acquire a 65.43% stake in Henan Koyi Gas Co., Ltd. through cash payment, aiming to gain control over the company[10] - A joint venture with Shudao Group and Toyota Motor Corporation has been established with a registered capital of 236 million yuan, where the company holds a 45% stake[11] Borrowings - The company reported a decrease in short-term borrowings to 80.94 million yuan from 83.93 million yuan, a reduction of about 3.56%[14] - The company’s long-term borrowings decreased to 63 million yuan from 82.4 million yuan, a decline of approximately 23.58%[14] Accounts Receivable - Accounts receivable decreased to 178.84 million yuan from 217.59 million yuan, a decline of about 17.79%[13]

蜀道装备（300540）公告，2025年第一季度营业收入5145.98万元，同比增长28.10%。净亏损65.59万 元，去年同期净利润395.94万元。 ...

Core Viewpoint - The company Shudao Equipment (300540.SZ) has released its first ESG report, highlighting its commitment to sustainable development and addressing climate change risks in alignment with national "dual carbon" goals [1][6]. Group 1: ESG Report Overview - The ESG report covers the company's performance in environmental protection, social responsibility, and corporate governance, identifying 22 material issues and creating a dual materiality matrix to guide future ESG practices [2][4]. - The company has established an ESG governance structure and formed a dedicated leadership team to oversee ESG initiatives, marking a significant step towards long-term sustainable development [9][10]. Group 2: Climate Change and Hydrogen Development - Shudao Equipment emphasizes the importance of addressing climate change, aligning its strategies with national policies such as the "2030 Carbon Peak Action Plan" and the "Hydrogen Industry Development Plan (2021-2035)" [6][7]. - The company has developed strategies to mitigate climate risks, including enhancing facility insulation, adopting energy-efficient systems, and implementing water-saving production processes [7]. - Investments in the hydrogen industry are being accelerated, with the company acquiring patents related to hydrogen production, liquefaction, and storage, aiming to provide comprehensive solutions in hydrogen technology [8]. Group 3: Risk Management and Compliance - The company has implemented comprehensive risk management and internal control measures across various operational areas, including procurement and investment management [12]. - Shudao Equipment is focused on supply chain management, enhancing supplier oversight through specific management guidelines, and contributing to local economic development in line with national rural revitalization strategies [14].

盈利能力 公司的盈利能力在2024年显著提升，毛利率为25.76%，同比增加了13.96%；净利率为8.4%，同比增加 了71.41%。这表明公司在控制成本和提高效率方面取得了显著成效。 近期蜀道装备(300540)发布2024年年报，证券之星财报模型分析如下： 营收与利润 蜀道装备(300540)在2024年的营业总收入达到了8.62亿元，较2023年的6.68亿元同比增长28.9%。归母净 利润为7236.68万元，同比增长121.67%。扣非净利润为3856.81万元，同比增长1093.69%。从单季度数 据来看，第四季度营业总收入为3.65亿元，同比增长13.52%，归母净利润为4918.05万元，同比增长 161.93%，扣非净利润为1599.57万元，同比增长186.97%。 现金流状况 蜀道装备的现金流状况大幅改善，每股经营性现金流为1.75元，同比增长262.82%。经营活动产生的现 金流量净额变动幅度为263.4%，主要原因是销售回款现金流入同比增幅较大且经营活动现金流出同比 下降。货币资金为4.8亿元，同比增长295.06%，主要得益于销售回款增加。 成本与费用 销售费用减少了29.09% ...

在执行订单量同比进一步增长 作为蜀道交通服务集团有限责任公司旗下的上市公司，蜀道装备以深冷技术装备制造为核心，以交通服 务装备制造为支撑，大力拓展气体投资运营、清洁能源投资运营等业务，加速布局氢能产业等前沿领 域。2024年，公司积极高效推进深冷技术装备项目执行，在执行订单量同比进一步增加，项目执行效率 显著提升，成为公司收入增长的核心驱动力。 年报显示，蜀道装备各大板块的业务拓展卓有成效。其中，深冷技术装备制造业务在2024年新签合同金 额约10.71亿元，主要为天然气液化成套装置、大型空分装置等，公司还持续拓展海外市场，积极助 推"一带一路"共建国家的工业发展；公司不断拓展开发交通服务装备新业务，完善产业布局，该业务在 2024年新签合同额约8060万元，主要涉及加气站设备、新能源充电桩及配套设施、充电站改造等。 本报记者舒娅疆 4月17日，四川蜀道装备科技股份有限公司（以下简称"蜀道装备"）披露2024年年报。公司去年实现营 业收入8.62亿元，同比增长28.9%；归属于上市公司股东净利润7236.68万元，同比增长121.67%；归属 于上市公司股东的扣非净利润为3856.81万元，同比增幅高达109 ...

Core Viewpoint - The company has achieved significant growth in its operating performance, with a record revenue of 862 million yuan in 2024, representing a year-on-year increase of 28.90% and a two-year compound annual growth rate of 90% [1] Financial Performance - The company's gross profit margin reached its highest level since 2019, with a net profit attributable to shareholders exceeding 72 million yuan, also a historical high [1] - The gas operation segment saw a revenue growth of 351.51%, while the revenue from tanks and storage station products surged by 602.76% [1] Business Development - The company has expanded its business across multiple sectors, particularly in transportation service equipment manufacturing, focusing on "dual carbon" initiatives [1] - In the hydrogen energy sector, the company is advancing the development of 35MPa hydrogen refueling machines and liquid hydrogen storage tanks, and is actively involved in government infrastructure projects [1] International Expansion - The company is seizing opportunities from the "Belt and Road" initiative to expand its overseas market presence, successfully completing projects in Indonesia and Nigeria [2] - These international projects have bolstered the company's brand visibility in global markets [2] Shareholder Returns - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares (tax included) and will also increase capital reserves by issuing 4 additional shares for every 10 shares held [2] ESG Commitment - Alongside its annual report, the company has released its 2024 Environmental, Social, and Governance (ESG) report, demonstrating its commitment to social responsibility and sustainable development [2]

证券代码：300540 证券简称：蜀道装备 公告编号：2025-016 四川蜀道装备科技股份有限公司 关于回购注销部分限制性股票通知债权人的公告 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。 一、通知债权人的原因 四川蜀道装备科技股份有限公司（以下简称"公司"）于 2025 年 4 月 15 日召开第四届董事会第四十三次会议和第四届监事会第二十二次会议，审议通过 了《关于回购注销部分限制性股票的议案》。根据《四川蜀道装备科技股份有限 公司 2023 年限制性股票激励计划（草案修订稿）》（以下简称"《激励计划》"、 "本激励计划"）、《四川蜀道装备科技股份有限公司 2023 年限制性股票激励 计划实施考核管理办法（修订稿）》（以下简称"《考核管理办法》"）的相关 规定："若限制性股票某个解除限售期的公司业绩考核目标未达成，则所有激励 对象当期可解除限售限制性股票不可解除限售，由公司以授予价格与股票市价的 孰低值回购注销"。鉴于本激励计划首次及预留授予限制性股票第一期公司层面 业绩考核目标未能全部达标，所涉 133 名激励对象已获授但尚未解除限售的共计 140. ...