Investment Rating - The investment rating for the company is "Buy" [1] Core Insights - The company reported a total operating revenue of 4.479 billion yuan in 2024, a decrease of 5.25% year-on-year, and a net profit attributable to shareholders of -250 million yuan, down 141.44% year-on-year [2] - The core business restructuring is showing effectiveness, with energy internet driving growth resilience despite a significant decline in net profit [3] - The energy internet business has achieved breakthroughs in three areas: market-based electricity trading, charging service ecosystem, and virtual power plant [4] - The energy digitalization business faced pressure but has long-term potential driven by policy and demand [5] - The company is transitioning from traditional project-based software services to a platform-based energy operation model, focusing on AI and energy integration [6] Financial Summary - The company adjusted its revenue forecast for 2025 from 8.948 billion yuan to 5.118 billion yuan, with net profit forecasted at 542 million yuan for 2025 [8] - The projected earnings per share (EPS) for 2025 is adjusted to 0.50 yuan, with corresponding price-to-earnings ratios (PE) of 28.25, 23.24, and 19.56 for 2025, 2026, and 2027 respectively [8][10] - The company expects a recovery in net profit with a forecast of 316.5% growth in 2026 and 21.6% in 2027 [10]

Group 1: Company Strategy and Focus - The company is committed to optimizing and restructuring non-core businesses, including the divestment of TV set-top boxes and digital city projects, to focus on energy digitalization and energy internet strategies [2][3] - The strategic shift aims to transition from project-driven to AI-driven operations, enhancing efficiency and sustainability in energy management and electricity trading [3] Group 2: Financial Performance - In Q1 2025, the company reported revenue of 667 million, remaining stable year-on-year, with a 10% increase when excluding non-core business impacts [3] - The gross profit margin reached 48%, indicating a significant improvement, while net profit was 3.37 million, reflecting a 118% year-on-year growth [3] Group 3: Energy Digitalization and Internet Development - The company is actively deploying AI and energy management solutions, with a focus on new power systems and marketization, expecting significant revenue and profit contributions in the second half of the year [3] - The "New Electric Path" platform has over 1.7 million charging devices and more than 20 million registered users, indicating substantial growth in user engagement and service coverage [4] Group 4: Future Growth and Market Opportunities - The company anticipates accelerated growth in electricity trading due to ongoing market reforms and the introduction of new policies aimed at enhancing renewable energy integration [4] - Plans to expand the charging network and user base, particularly targeting private car owners, are in place to capitalize on the growing demand for public charging services [5]

2024 LongShine Technology Group Co., Ltd. Environmental, Social and Governance (ESG) Report Contents | About This Report | 01 | | --- | --- | | Message from the Chairman | 03 | | About LongShine Group | 05 | | ESG Management | 13 | | Looking Ahead | 87 | | --- | --- | | Appendix | 89 | 01 02 Smart Energy, Leading the Future | Empowering Energy Innovation Through | 19 | | --- | --- | | Digital and Intelligent Technology | | | Driven by Innovation, Advancing with | 21 | | Determination | | | Responsible Busin ...

证券研究报告 公司研究 点评报告 朗新集团(300682.SZ) 庞倩倩 计算机行业首席分析师 执业编号：S1500522110006 邮 箱： pangqianqian@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦 B座 邮编：100031 集团战略聚焦核心业务，AI 及电力交易带来新机遇 2025 年 4 月 28 日 事件：朗新集团发布 2024 年年度报告，公司实现营业总收入 44.79 亿元， 同比减少 5.24%；实现归母净利润-2.50 亿元，上年同期为 6.04 亿元；实现 扣非归净利润-2.78 亿元，上年同期为 5.33 亿元。其中，公司剥离重组亏损 的非核心业务，在商誉存货减值、前期投入成本费用化等方面对公司造成的 一次性财务影响约 4.88 亿元。单四季度公司实现营业总收入 17.80 亿元， 同比减少 16.31%，实现归属母公司股东的净利润-4.10 亿元，上年同期为 3.99 亿元。 请阅读最后一页免责声明及信息披露 http://www.cindasc.com 1 剥离非核心业务，聚焦 ...

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report indicates a focus on maintaining steady growth while exploring new business opportunities, suggesting a positive outlook for future performance [1][2]. Core Insights - The company reported a total revenue of 4.479 billion yuan in 2024, a decrease of 5.24% year-on-year, and a net profit attributable to shareholders of -250 million yuan, compared to 604 million yuan in the previous year [1]. - The company has divested from non-core businesses, focusing on energy digitalization and energy internet, with energy digitalization revenue at 2.147 billion yuan, down 7.51% year-on-year, while energy internet revenue grew by 17.63% to 1.804 billion yuan [1]. - The company has made significant advancements in AI-assisted electricity trading, achieving an annual trading volume exceeding 1.9 billion kWh, a year-on-year increase of over 500% [1]. - The company’s life payment platform serves over 500 million users, with daily active users nearing 20 million, and the aggregation charging business has reached a charging volume of 5.2 billion kWh [1]. Financial Summary - The company’s total revenue for 2023 was 4.727 billion yuan, with a projected increase to 5.113 billion yuan in 2025, reflecting a growth rate of 14.1% [2]. - The net profit attributable to shareholders is expected to recover from -250 million yuan in 2024 to 532 million yuan in 2025, indicating a significant turnaround [2]. - The gross margin is projected to improve from 41.3% in 2024 to 45.6% by 2027, showcasing enhanced operational efficiency [2]. - The earnings per share (EPS) is forecasted to rise from -0.23 yuan in 2024 to 0.73 yuan in 2027, reflecting a positive growth trajectory [2].

二、前10名无限售条件股东持股情况 一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.0031 | -0.0180 | 117.22 | 0.0190 | | 每股净资产（元） | 6.47 | 6.98 | -7.31 | 6.53 | | 每股公积金(元) | 2.71 | 2.81 | -3.56 | 2.67 | | 每股未分配利润(元) | 2.77 | 3.26 | -15.03 | 2.91 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 6.67 | 6.68 | -0.15 | 6.53 | | 净利润(亿元) | 0.03 | -0.19 | 115.79 | 0.2 | | 净资产收益率(%) | 0.05 | -0.25 | 120 | 0.29 | 数据四舍五入，查看更多财务数据>> 三、分红送配方案情况 本次公司不分配不转赠。 前十大流通股东累计持有： 5 ...

Group 1 - The core viewpoint of the news is that Langxin Group reported stable revenue with significant profit growth in Q1, driven by its focus on energy digitization and the energy internet strategy [1] - In Q1, the company achieved total revenue of 667 million yuan, which is approximately flat year-on-year, while the net profit attributable to shareholders increased by 117.53% to 3.37 million yuan [1] - The energy digitization business showed steady growth, with the company actively deploying in areas such as AI, load control, new energy management, and electricity marketization [1] Group 2 - The energy internet business of Langxin Group continued to develop rapidly, with the "New Electric Path" charging platform expanding its network and user connections while significantly reducing operational losses year-on-year [1] - The virtual power plant business saw new access to distributed photovoltaic exceeding 10 GW, and breakthroughs in centralized power station agency trading [1] - The scale of the electricity trading business exceeded 700 million kWh, achieving more than double year-on-year growth due to the continuous application of AI trading models [1] Group 3 - Langxin Group's ESG report highlights its strategy of "Digital Technology Promoting Green Low-Carbon Development," showcasing progress in technology energy, innovation leadership, responsible management, employee benefits, and social contributions [2] - The company aims to continue driving AI technology innovation and expanding the energy internet platform to promote smarter and greener electricity services [2]

朗新科技集团股份有限公司 证券代码：300682 证券简称：朗新集团 公告编号：2025-030 朗新科技集团股份有限公司 第四届监事会第二十二次会议决议公告 本公司及监事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 朗新科技集团股份有限公司（以下简称"公司"）第四届监事会第二十二次 会议已于 2025 年 4 月 25 日在无锡市新吴区净慧东道 118 号朗新科技产业园以 现场结合通讯方式召开，会议应到监事 3 名，实到监事 3 名，符合《中华人民 共和国公司法》（以下简称《公司法》）与《朗新科技集团股份有限公司章程》（以 下简称《公司章程》）的规定。 经审核，监事会认为：董事会编制和审核公司 2025 年第一季度报告的程序 符合法律、法规和中国证监会的有关规定，报告内容真实、准确、完整地反映了 公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 表决结果：同意 3 票；反对 0 票；弃权 0 票。 详细内容参见中国证券监督管理委员会指定创业板信息披露网站上的相关 公告。 特此公告。 朗新科技集团股份有限公司 监事会 2025 年 4 月 25 日 1 会议根 ...

朗新科技集团股份有限公司 会议根据《公司法》与《公司章程》的规定，全体董事审议通过如下决议： 一、审议通过《关于<2025 年第一季度报告>的议案》 表决结果：赞成票 8 票，反对票 0 票，弃权票 0 票。 证券代码：300682 证券简称：朗新集团 公告编号：2025-029 朗新科技集团股份有限公司 第四届董事会第三十二次会议决议公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 朗新科技集团股份有限公司（以下简称"公司"）第四届董事会第三十二次 会议已于 2025 年 4 月 25 日在无锡市新吴区净慧东道 118 号朗新科技产业园以 现场结合通讯方式召开，会议通知于 2025 年 4 月 22 日以邮件方式发出。会议 应出席董事 8 名，实际出席董事 8 名。本次会议的召开符合《中华人民共和国 公司法》（以下简称《公司法》）《中华人民共和国证券法》及《朗新科技集团 股份有限公司章程》（以下简称《公司章程》）规定。本次董事会决议合法有效。 1 详细内容参见中国证券监督管理委员会指定创业板信息披露网站上的相关 公告。 特此公告。 朗新科技集团股份有限公司 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥666,685,172.94, a slight decrease of 0.12% compared to ¥667,505,407.63 in the same period last year[5] - Net profit attributable to shareholders was ¥3,370,908.82, representing a significant increase of 117.53% from a loss of ¥19,227,215.14 in the previous year[5] - The net cash flow from operating activities was -¥205,407,212.38, showing a minor improvement of 0.82% compared to -¥207,097,199.72 in the same period last year[5] - Total operating revenue for the current period is ¥666,685,172.94, a slight decrease from ¥667,505,407.63 in the previous period, representing a decline of approximately 0.12%[23] - Net profit for the current period is a loss of ¥10,237,521.65, an improvement compared to a loss of ¥46,877,267.62 in the previous period[24] - The company reported a net profit attributable to the parent company of ¥3,370,908.82, contrasting with a loss of ¥19,227,215.14 in the previous period[24] - The total comprehensive income attributable to the parent company was 2,673,708.82, compared to a loss of 52,518,515.14 in the previous period[25] - Basic and diluted earnings per share were both 0.0031, recovering from a loss of 0.0180 in the previous period[25] Assets and Liabilities - The company's total assets decreased by 6.74% to ¥9,132,492,223.27 from ¥9,792,773,457.42 at the end of the previous year[5] - Total assets decreased to ¥9,132,492,223.27 from ¥9,792,773,457.42, indicating a reduction of approximately 6.73%[22] - Total liabilities decreased to ¥2,592,450,706.98 from ¥3,241,797,219.48, reflecting a decline of about 20.05%[22] - Non-current assets totaled ¥3,724,033,809.68, down from ¥4,004,838,767.98, a decrease of approximately 6.97%[22] Cash Flow - The company's cash and cash equivalents at the end of the period amount to ¥1,829,120,171.21, down from ¥1,927,299,576.86 at the beginning of the period[20] - Cash inflow from operating activities was 1,226,081,413.02, slightly up from 1,211,005,247.09 in the previous period[27] - Cash outflow from operating activities totaled 1,431,488,625.40, compared to 1,418,102,446.81 in the previous period[27] - Cash outflow from investing activities was 453,861,991.17, significantly higher than 186,483,529.30 in the previous period[28] - Cash inflow from financing activities was 220,658,033.73, slightly down from 224,970,000.00 in the previous period[28] - The ending cash and cash equivalents balance was 942,461,989.36, down from 1,385,467,886.86 in the previous period[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 27,081[16] - The largest shareholder, Wuxi Puhua Equity Investment Partnership, holds 11.70% of shares, totaling 126,402,660 shares, with 69,371,944 shares pledged[16] - The second-largest shareholder, Shanghai Yunxin Venture Capital, holds 10.75% of shares, totaling 116,099,800 shares[16] - The top ten shareholders collectively hold a significant portion of the company's equity, with the largest ten shareholders holding a total of 426,000,000 shares[16] - The company has identified several shareholders as acting in concert, which may influence future corporate governance decisions[17] Investment and Expenses - Investment income rose by 53.95% to ¥11,217,784.00, attributed to increased earnings from joint ventures[13] - Research and development expenses increased to ¥121,437,903.12 from ¥119,043,694.02, representing an increase of approximately 2.01%[24] - The company reported a 151.99% increase in inventory, primarily due to increased contract performance costs[11] Business Operations - The energy digitalization business continued to grow steadily, with significant progress in AI, new energy management, and power marketization, although revenue and profit are expected to peak in the second half of the year[6] - The "New Electric Path" charging platform expanded its network and user connections, significantly reducing operational losses compared to the previous year[6] - The scale of the company's electricity trading business exceeded 700 million kWh, achieving over 100% year-on-year growth due to the application of AI trading models[6]