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亿联网络(300628):2024年年报及2025年一季报点评:持续提升分红比例,Q1业绩因国际扰动短期承压
Minsheng Securities· 2025-04-22 10:53
Investment Rating - The report maintains a "Recommended" rating for the company [6]. Core Insights - The company achieved a revenue of 56.21 billion yuan in 2024, representing a year-on-year growth of 29.28%, and a net profit of 26.48 billion yuan, up 31.72% year-on-year [1]. - In Q1 2025, the company reported a revenue of 12.05 billion yuan, a growth of 3.57% year-on-year, while the net profit attributable to shareholders decreased by 1.15% to 5.62 billion yuan [1][3]. - The company is actively responding to international trade disruptions by enhancing supply chain resilience through overseas warehousing and production capabilities in Southeast Asia [3]. Revenue Breakdown - Desktop communication products generated 30.82 billion yuan in revenue, a growth of 21.13%, accounting for 54.83% of total revenue [2]. - Conference products saw revenue of 19.97 billion yuan, up 36.21%, making up 35.52% of total revenue [2]. - Cloud office terminals achieved revenue of 5.27 billion yuan, a significant increase of 62.98%, representing 9.37% of total revenue [2]. Profitability Metrics - The company's gross margin for 2024 was 65.45%, a slight decrease of 0.27 percentage points year-on-year, while the net margin improved to 47.10%, an increase of 0.87 percentage points [2]. - In Q1 2025, the sales gross margin was 64.54%, down 0.09 percentage points year-on-year, and the net margin was 46.64%, a decrease of 2.23 percentage points [3]. Dividend Policy - The company proposed a cash dividend of 13.00 yuan per 10 shares for 2024, totaling 16.41 billion yuan, resulting in a dividend payout ratio of 90.59%, an increase from 87.90% in 2023 [4]. Financial Forecast - The company is projected to achieve net profits of 29 billion yuan, 33 billion yuan, and 38 billion yuan for 2025, 2026, and 2027, respectively, with corresponding P/E ratios of 15, 13, and 11 [4][5].
亿联网络(300628) - 亿联网络投资者关系管理档案20250421
2025-04-22 09:26
Group 1: Overall Performance in 2024 - The company achieved a revenue of 5.621 billion RMB, a year-on-year increase of 29.28% [3] - Net profit reached 2.648 billion RMB, growing by 31.72% year-on-year [3] - Overall net profit margin was 47.10%, an increase of 0.87 percentage points compared to the previous year [3] Group 2: Business Line Performance - Meeting products generated revenue of 1.997 billion RMB, up 36.21%, accounting for 35.52% of total revenue [4] - Cloud office terminals achieved revenue of 527 million RMB, a 62.98% increase, representing 9.37% of total revenue [4] - Desktop communication terminals brought in 3.082 billion RMB, a growth of 21.13%, making up 54.83% of total revenue [6] Group 3: Research and Development - R&D investment accounted for 9.95% of total revenue, with R&D personnel making up 51.50% of the workforce [7] - The company aims to empower digital transformation for enterprise clients through four core capabilities: professional meetings, voice communication, efficient collaboration, and smart office solutions [7] Group 4: Sales and Shareholder Returns - Sales investment represented 5.18% of total revenue, with sales personnel constituting 26.05% of the workforce [7] - The company plans to distribute a cash dividend of 13 RMB per 10 shares, totaling 1.641 billion RMB, with a dividend payout ratio of 61.98% [7] - Total cash dividends for 2024 are expected to be approximately 2.399 billion RMB, with a payout ratio increase to 90.59% [7] Group 5: 2025 Q1 Performance and Outlook - In Q1 2025, revenue grew by 3.57%, while net profit decreased by 1.15% due to external factors such as tariff adjustments [9] - The company is implementing strategies to stabilize order delivery in the U.S. market and is expanding production capacity in Southeast Asia [11] Group 6: Risk Management and Future Strategies - The main risk for 2025 is the uncertainty of U.S. tariff policies, which could impact global trade [10] - The company is developing a multi-dimensional response strategy, including establishing overseas warehouses and expanding production capacity in Southeast Asia [10] - The focus remains on maintaining product competitiveness and operational efficiency to navigate external fluctuations [11]
A股军工电子走低,奥维通信跌停,新劲钢跌近7%,科思科技、泰豪科技、大立科技跌超4%。
news flash· 2025-04-22 02:12
A股军工电子走低,奥维通信跌停,新劲钢跌近7%,科思科技、泰豪科技、大立科技跌超4%。 ...
亿联网络2025年一季度增收不增利,毛利率微降,现金流显著改善
Zheng Quan Zhi Xing· 2025-04-21 22:42
近期亿联网络(300628)发布2025年一季报,证券之星财报模型分析如下: 财务概况 毛利率:2025年一季度毛利率为64.54%,同比减少0.14%。尽管略有下降,但仍保持在一个较高 的水平。 净利率:净利率为46.64%,同比减少了4.56%。这反映了公司在控制成本方面面临一定压力。 每股收益:每股收益为0.44元,同比减少1.16%,进一步体现了公司盈利能力的下滑。 三费占营收比:销售费用、管理费用、财务费用总计7997.98万元,三费占营收比为6.64%,同比 增加了4.23%。费用率的上升可能对公司利润产生了一定影响。 每股经营性现金流:每股经营性现金流为0.35元,同比增加了33.24%,显示出公司在经营活动中 的现金流状况有所改善。 货币资金:货币资金为8.02亿元,同比大幅增加56.39%,表明公司现金储备充足。 应收账款:应收账款为7.9亿元,同比减少11.81%,这可能意味着公司加强了应收账款的管理。 有息负债:有息负债为424.52万元,同比增加48.95%,但总体规模较小,对公司财务状况影响有 限。 费用控制与现金流 资产与负债情况 总结 亿联网络2025年一季度的财务报告显示,公司 ...
亿联网络拟10派13元 股息率3.70%
Core Viewpoint - Yilian Network announced a cash distribution plan for the fiscal year 2024, proposing a dividend of 13 yuan per 10 shares (including tax), totaling 1.641 billion yuan, which represents 61.98% of the net profit and a dividend yield of 3.70% based on the average trading price for the year [2]. Company Financial Performance - For the fiscal year 2024, Yilian Network reported a revenue of 5.621 billion yuan, reflecting a year-on-year growth of 29.28%. The net profit reached 2.648 billion yuan, up 31.72% year-on-year, with a basic earnings per share of 2.0951 yuan and a weighted average return on equity of 30.68% [2]. Dividend History - The company has a history of 11 cash distributions since its listing, with the latest being 10 shares for 13 yuan (including tax) [2]. - Previous distributions include: - 10 shares for 6 yuan (1.90% yield) in June 2024 - 10 shares for 9 yuan (1.84% yield) in December 2023 - 10 shares for 5 yuan (0.84% yield) in June 2023 [2]. Industry Comparison - In the telecommunications sector, Yilian Network's cash distribution ranks high, with the highest cash distribution being from China Mobile at 49.481 billion yuan, followed by China Telecom and ZTE with 8.483 billion yuan and 2.951 billion yuan, respectively [4][5]. - Yilian Network's dividend yield of 3.70% is notable compared to other companies in the sector [5]. Market Activity - Recent data indicates that the net outflow of main funds from Yilian Network over the past five days was 9.6825 million yuan, while the latest margin financing balance stood at 560 million yuan, showing an increase of 8.4972 million yuan (1.54% growth) over the same period [3][4].
亿联网络:增量突破+存量优化,短期国际贸易环境波动影响公司订单节奏-20250421
Tianfeng Securities· 2025-04-21 01:23
Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [4]. Core Views - The company achieved a revenue of 5.621 billion yuan in 2024, representing a year-on-year growth of 29.28%, and a net profit of 2.648 billion yuan, up 31.72% [1]. - The business model is characterized by "incremental breakthroughs and stock optimization," with diversified and collaborative development across three main business lines: desktop communication terminals, conference products, and cloud office terminals [1]. - The company plans to distribute a cash dividend of 1.3 yuan per share, totaling 1.641 billion yuan, resulting in a nearly 91% dividend payout ratio for the year [1]. Summary by Sections Desktop Communication Terminals - In 2024, revenue reached 3.082 billion yuan, a growth of 21.13%, with a gross margin of 67.55% [2]. - The growth was driven by the normalization of hybrid work and a recovery in inventory levels after a de-stocking cycle in 2023 [2]. - New product launches, including the T7 and T8 series, are planned for 2025 [2]. Conference Products - Revenue for 2024 was 1.997 billion yuan, increasing by 36.21%, with a gross margin of 65.67% [2]. - The MeetingBoard product received positive market feedback, and new products with advanced features are set to launch in 2025 [2]. Cloud Office Terminals - Revenue in 2024 was 527 million yuan, a significant increase of 62.98%, contributing to 9.37% of total revenue [3]. - The company is enhancing its business headset product line and plans to introduce a complete range of products across various price segments in 2025 [3]. Financial Performance and Forecast - The company expects net profits for 2025, 2026, and 2027 to be 3.071 billion yuan, 3.528 billion yuan, and 4.051 billion yuan, respectively [4]. - The report highlights a strong commitment to R&D and continuous product innovation as key factors for maintaining market competitiveness [4].
亿联网络(300628):增量突破+存量优化,短期国际贸易环境波动影响公司订单节奏
Tianfeng Securities· 2025-04-21 00:42
Investment Rating - The report maintains a "Buy" rating for the company with a target price not specified [4]. Core Views - The company achieved a revenue of 5.621 billion yuan in 2024, representing a year-on-year growth of 29.28%, and a net profit of 2.648 billion yuan, up 31.72% [1]. - The business model is characterized by "incremental breakthroughs and stock optimization" across three main segments: desktop communication terminals, meeting products, and cloud office terminals [1]. - The company plans to distribute a cash dividend of 13.00 yuan per 10 shares, totaling 1.641 billion yuan, leading to a nearly 91% dividend payout ratio for the year [1]. Summary by Sections Desktop Communication Terminals - Revenue reached 3.082 billion yuan in 2024, a growth of 21.13%, with a gross margin of 67.55% [2]. - The growth was driven by the normalization of hybrid work and a replenishment demand from distributors following a de-inventory cycle in 2023 [2]. - New product launches, including the T7 and T8 series phones, are planned for 2025 [2]. Meeting Products - Revenue for this segment was 1.997 billion yuan in 2024, up 36.21%, with a gross margin of 65.67% [2]. - The MeetingBoard product received positive market feedback, and new products featuring advanced technology are set to launch in 2025 [2]. Cloud Office Terminals - This segment saw a revenue of 527 million yuan in 2024, marking a significant growth of 62.98% [3]. - The company is enhancing its business headset product line and plans to launch a series of new products in 2025 [3]. Financial Overview - Sales expenses were 291 million yuan, up 5.66%, while management expenses increased by 17.57% to 156 million yuan [3]. - R&D expenses reached 559 million yuan, a growth of 12.08% [3]. - The company is focusing on overseas market expansion and dynamic pricing mechanisms to mitigate cost pressures [3]. Profit Forecast - Projected net profits for 2025, 2026, and 2027 are 3.071 billion yuan, 3.528 billion yuan, and 4.051 billion yuan, respectively [4].
厦门亿联网络技术股份有限公司
Core Viewpoint - The company is a leading provider of communication and collaboration solutions, focusing on the integration of traditional communication technologies with advanced digital tools, particularly in the context of digital transformation and the rise of artificial intelligence in enterprise communication [5][6][7]. Company Overview - The company, established in 2001, specializes in unified communication solutions, leveraging advancements in AI and digital technologies to enhance workplace collaboration and efficiency [5][6]. - The company has a comprehensive product offering that includes desktop communication terminals, meeting products, and cloud office terminals, catering to various enterprise communication needs [16][19][20]. Industry Trends - The demand for unified communication solutions is driven by the digital transformation of enterprises, with technologies like big data, AI, cloud computing, and 5G playing a significant role [6][7]. - The integration of AI technologies is enhancing the capabilities of communication tools, leading to innovative applications in enterprise settings [7][8]. - The evolution of communication products is moving towards more intelligent and versatile solutions, breaking down barriers between different communication scenarios [8][9]. Business Development - The company has seen significant growth in its meeting products, with revenue reaching 19.97 billion yuan, a 36.21% increase year-on-year, indicating strong market demand [40]. - The cloud office terminal segment has also experienced substantial growth, with a revenue increase of 62.98%, reflecting the rising trend of remote and flexible working arrangements [41]. - The desktop communication terminal remains the largest revenue contributor, achieving 30.82 billion yuan in revenue, a 21.13% increase, driven by the normalization of hybrid work models [42]. Financial Performance - In 2024, the company reported a revenue of 56.21 billion yuan, a year-on-year increase of 29.28%, and a net profit of 26.48 billion yuan, up 31.72%, with a net profit margin of 47.10% [38]. - The company's focus on continuous product innovation and market responsiveness has positioned it well to capitalize on the growing demand for digital communication solutions [38][39]. Competitive Advantages - The company emphasizes high R&D investment, with R&D expenses accounting for 9.95% of revenue and R&D personnel making up 51.50% of the workforce, ensuring a strong technological foundation [32][43]. - A robust channel management system supports the company's sales strategy, leveraging a network of authorized distributors to enhance market reach and brand influence [33][34]. - The company maintains a flexible supply chain model, outsourcing production while ensuring quality control and cost management, which supports its long-term growth strategy [25][35]. Future Outlook - The company plans to continue enhancing its product offerings and expanding its market presence, particularly in the areas of AI-driven communication solutions and smart office environments [44]. - Ongoing investments in R&D and strategic partnerships are expected to further strengthen the company's competitive position in the evolving communication landscape [29][30].
亿联网络:2025一季报净利润5.62亿 同比下降1.23%
Tong Hua Shun Cai Bao· 2025-04-20 08:12
Financial Data and Indicators - The basic earnings per share for Q1 2025 is 0.4447 yuan, a decrease of 1.16% compared to Q1 2024, which was 0.4499 yuan [1] - The net asset per share increased by 9.3% to 7.52 yuan in Q1 2025 from 6.88 yuan in Q1 2024 [1] - The retained earnings per share rose by 12.29% to 5.39 yuan in Q1 2025 from 4.80 yuan in Q1 2024 [1] - The operating revenue for Q1 2025 reached 12.05 billion yuan, reflecting a 3.52% increase from 11.64 billion yuan in Q1 2024 [1] - The net profit for Q1 2025 was 5.62 billion yuan, a slight decrease of 1.23% from 5.69 billion yuan in Q1 2024 [1] - The return on equity (ROE) for Q1 2025 was 6.09%, down 9.91% from 6.76% in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 28,007.84 million shares, accounting for 38.74% of the circulating shares, with an increase of 1,080.26 million shares compared to the previous period [1] - Hong Kong Central Clearing Limited holds 6,592.76 million shares, representing 9.12% of total share capital, with an increase of 2,351.12 million shares [2] - Xiamen Yiwanlian Information Technology Service Co., Ltd. holds 6,259.83 million shares, maintaining its position [2] - Hu Jidan holds 4,900 million shares, unchanged from the previous period [2] - Chen Jianrong holds 4,108.50 million shares, with a decrease of 1,250 million shares [2] - The National Social Security Fund 103 Portfolio holds 2,430.99 million shares, with an increase of 260 million shares [2] Dividend Distribution - The company will not distribute dividends or transfer shares in this period [2]
亿联网络(300628) - 2025年限制性股票激励计划(草案)摘要
2025-04-20 08:00
证券代码:300628 证券简称:亿联网络 厦门亿联网络技术股份有限公司 2025 年限制性股票激励计划 (草案)摘要 厦门亿联网络技术股份有限公司 二零二五年四月 厦门亿联网络技术股份有限公司 2025 年限制性股票激励计划(草案)摘要 声明 本公司及全体董事、监事保证本计划及其摘要不存在虚假记载、误导性陈述 或重大遗漏,并对其真实性、准确性、完整性承担个别和连带的法律责任。 特别提示 一、本激励计划依据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司股权激励管理办法》《深圳证券交易所创业板股票上市规则(2024 年 修订)》《深圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理 (2024 年修订)》和其他有关法律、法规、规范性文件,以及厦门亿联网络技术 股份有限公司(以下简称"亿联网络"、"公司"或"本公司")《公司章程》制订。 二、公司不存在《上市公司股权激励管理办法》第七条规定的不得实行股权 激励的情形。 厦门亿联网络技术股份有限公司 2025 年限制性股票激励计划(草案)摘要 核心管理人员、核心技术(业务)人员和潜力骨干,以及公司董事会认定需要激 励的其他员工。 拟授予限制性 ...