Investment Rating - The report maintains a "Buy" rating for the company [7] Core Views - The company reported a revenue of 754 million RMB for 2024, representing a year-on-year increase of 13.28%, while the net profit attributable to the parent company was 70 million RMB, a decrease of 2.59% year-on-year. The fourth quarter of 2024 saw a revenue increase of 28.17% and a net profit increase of 61.2% year-on-year. The company is expected to continue benefiting from domestic business performance in 2025 due to positive marketing, product, and channel investments, along with favorable policies [1][2][5] - The domestic brand business is projected to benefit from trade-in policies and new channel expansions, while overseas brand performance may face challenges due to tariffs and reduced inventory replenishment [2] - The company's gross margin for 2024 was 46.9%, down 3.85 percentage points year-on-year, with expectations for stable domestic margins in 2025 but potential pressure on overseas margins [3] - The overall expense ratio decreased by 2.58 percentage points in 2024, attributed to revenue growth and operational leverage improvements, with expectations for further optimization in sales expenses in 2025 [4] Financial Projections - The forecast for net profit attributable to the parent company for 2025 is 89.45 million RMB, with expected earnings per share (EPS) of 0.27 RMB. The target price has been raised to 12.15 RMB, reflecting a price-to-earnings (PE) ratio of 45 times for 2025 [5][8]

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 12.15 [7][8]. Core Views - The company reported a revenue of RMB 754 million for 2024, representing a year-on-year increase of 13.28%, while the net profit attributable to the parent company was RMB 70 million, a decrease of 2.59% year-on-year. The fourth quarter of 2024 saw a revenue increase of 28.17% and a net profit increase of 61.2% year-on-year. The company is optimistic about its domestic business performance in 2025 due to positive contributions from marketing, products, and channels, along with favorable policies [1][2][5]. Summary by Sections Financial Performance - In 2024, the company's domestic brand business revenue grew by 11% year-on-year, driven by national subsidies and platform incentives. The growth rate in Q3 and Q4 of 2024 improved to 19.1% and 18.9%, respectively. The overseas business saw a significant increase, with self-owned brands growing by 95.5% and ODM business increasing by 22% [2][5]. - The gross profit margin for 2024 was 46.9%, a decline of 3.85 percentage points year-on-year. The gross margin is expected to remain stable in the domestic market in 2025, while the overseas ODM gross margin may face more pressure due to weaker tariff transmission capabilities compared to self-owned brands [3][5]. - The overall expense ratio decreased by 2.58 percentage points in 2024, benefiting from revenue growth and operational leverage optimization. The company anticipates further optimization of the sales expense ratio in 2025 due to the expansion of efficient channels [4][5]. Future Outlook - The forecast for net profit attributable to the parent company for 2025-2027 is RMB 89.45 million, RMB 106.49 million, and RMB 115.50 million, respectively. The corresponding EPS is projected to be RMB 0.27, RMB 0.33, and RMB 0.35. The target price has been adjusted to RMB 12.15, reflecting a premium valuation due to the company's position in the high-end small appliance market [5][8][11].

Core Viewpoint - The internal control audit report for Shenzhen Beiding Crystal Technology Co., Ltd. indicates that the company maintained effective internal controls over financial reporting as of December 31, 2024, in accordance with relevant regulations and standards [2][4]. Group 1: Responsibilities - The responsibility for establishing and implementing effective internal controls lies with the company's board of directors [1]. - The registered accountants are responsible for expressing an opinion on the effectiveness of internal controls based on the audit [1][2]. Group 2: Internal Control Limitations - Internal controls have inherent limitations and may not prevent or detect misstatements [1][4]. - Changes in circumstances may render internal controls inappropriate or reduce adherence to control policies and procedures [4]. Group 3: Evaluation Conclusion - As of the evaluation date, there were no significant deficiencies in financial reporting internal controls identified [4][6]. - The company also reported no significant deficiencies in non-financial reporting internal controls [4][9]. Group 4: Evaluation Scope and Methodology - The evaluation covered all major units, businesses, and high-risk areas, with total assets and revenues included in the evaluation scope accounting for 100% of the consolidated financial statements [5][6]. - High-risk areas included challenges from increasing consumer demands, intensified market competition, and risks associated with product quality and safety [5]. Group 5: Deficiency Recognition Standards - The company established quantitative and qualitative standards for recognizing internal control deficiencies, with specific thresholds based on revenue and total assets [6][8]. - A deficiency is classified as significant if it could lead to a misstatement exceeding 2% of revenue or total assets [7][8].

Core Viewpoint - The document provides a special explanation regarding the non-operating fund occupation and other related fund transactions of Shenzhen Beiding Crystal Technology Co., Ltd. for the year 2024, ensuring compliance with regulatory requirements and the accuracy of financial reporting [1]. Summary by Sections Special Explanation - The special explanation is prepared in accordance with the auditing standards and regulatory guidelines, detailing the non-operating fund occupation and related transactions for the year 2024 [1]. - The audit report issued on March 26, 2025, confirms that there are no inconsistencies in the financial data reviewed [1]. Non-operating Fund Occupation Summary - The summary table includes details of non-operating fund occupation, indicating that there were no amounts recorded for the major shareholders and their subsidiaries for the year 2024 [1]. - The total amounts for non-operating fund occupation and related transactions are summarized, with specific figures provided for the year-end balances [1]. Related Fund Transactions - The document outlines the related fund transactions with subsidiaries, specifically noting the amounts involved in operational funding and the nature of these transactions [1]. - The total amount for related fund transactions at the end of 2024 is detailed, with specific figures for each subsidiary involved [1].

Core Viewpoint - The company has decided to terminate the implementation of the 2021 and 2022 restricted stock incentive plans due to significant changes in the industry market environment and the inability to meet the performance targets set for these plans [10][11][12] Summary by Sections Termination of Incentive Plans - The company held meetings on March 26, 2025, where the board and supervisory committee approved the termination of the 2021 and 2022 restricted stock incentive plans, including the cancellation of unvested restricted stocks [1][10] - The decision to terminate these plans will be submitted for shareholder approval [11] Approval Procedures - The 2021 restricted stock incentive plan was approved in a temporary shareholders' meeting in 2021, with the board authorized to determine the grant date and manage related matters [2][3] - The 2022 plan followed a similar approval process, with independent directors and legal opinions provided [6][7] Reasons for Termination - The company cited that it has not met the performance targets for 2023 and 2024, making it difficult to achieve the goals set in the incentive plans [10] - The board concluded that continuing the plans would not yield the intended motivational effects for the incentive recipients [10] Impact on Company Performance - The termination of the incentive plans aligns with relevant laws and regulations, and the company will recognize the related incentive expenses immediately [10][11] - The company anticipates that the number of equity instruments that can meet the conditions for exercise will be zero, leading to no impact on net profit from the incentive expenses [10] Future Arrangements - Following the termination, the company plans to optimize its compensation system and improve performance evaluation methods to motivate management and key personnel [10][11] - The company will not review any new stock incentive plans within three months after the termination [11] Supervisory Committee Opinion - The supervisory committee agrees that terminating the plans is in compliance with relevant regulations and will not significantly impact the company's daily operations or future development [12]

北鼎股份: 2024年度独立董事述职报告（张建军） 深圳市北鼎晶辉科技股份有限公司 （述职人：张建军） 各位股东： 独立董事，本人严格按照《公司法》《证券法》《上市公司独立董事管理办法》 等有关法律、法规、规范性文件及《公司章程》《独立董事工作制度》的规定和 要求，本着对全体股东负责的态度，勤勉、忠实地履行独立董事职责，对公司重 大事项发表客观、审慎、公正的事前认可或独立意见，积极维护公司利益和股东 特别是中小股东的合法权益。现将本人 2024 年度履行独立董事职责情况作汇报 如下： 一、独立董事的基本情况 （一）独立董事工作履历、专业背景及兼职情况 本人张建军，1964 年生，中国国籍，无境外永久居留权，上海财经大学会计 学博士。2001 年至 2006 年，担任深圳大学经济学院院长、教授；2007 年至今， 担任深圳大学会计与财务研究所所长、教授、会计学科带头人；2020 年 9 月至 今，担任欣旺达独立董事；2024 年 4 月至今，担任鹏鼎控股独立董事；2022 年 （二）独立性说明 在担任公司独立董事期间，本人未在公司担任除独立董事以外的任何职务， 也未在公司主要股东公司担任任何职务，与公司以及主要 ...

深圳市北鼎晶辉科技股份有限公司（以下简称"公司"）根据《公司法》《上 市公司监管指引第 3 号——上市公司现金分红》《上市公司自律监管指引第 2 号 ——创业板上市公司规范运作》及《公司章程》等相关规定，为进一步提高分红 频次，提升投资者回报水平，结合公司经营业绩实际情况，拟定 2025 年中期分 红安排。具体情况如下： 一、2025 年中期分红安排情况 况，并结合未分配利润情况决定是否进行适当分红。如进行分红，将以公司总股 本扣除利润分配方案实施时股权登记日公司回购专户上已回购股份后的总股本 为基数，派发现金红利总金额不超过当期净利润。 会决议在符合利润分配条件下制定并执行具体的中期分红方案，包括但不限于决 定是否进行利润分配、制定利润分配方案以及实施利润分配的具体金额和时间等。 授权期限自 2024 年年度股东大会审议通过之日起至上述授权事项办理完毕之日 止。 证券代码：300824 证券简称：北鼎股份 公告编号：2025-013 深圳市北鼎晶辉科技股份有限公司 关于授权董事会制定 2025 年中期利润分配方案的公告 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 ...

关于 2024 年度利润分配预案的公告 北鼎股份: 关于2024年度利润分配预案的公告 证券代码：300824 证券简称：北鼎股份 公告编号：2025-007 深圳市北鼎晶辉科技股份有限公司 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。 重要内容提示： ●分配比例/转增比例：每 10 股派现金红利 1.20 元（含税）。 ●本次利润分配以截至 2024 年 12 月 31 日总股本 326,341,682 股扣除公司目 前回购专户的股份数 1,968,200 股后的总股本 324,373,482 股为基数。 ●若自 2024 年 12 月 31 日起至实施权益分派方案的股权登记日期间公司股 本发生变动，将按分派比例不变的原则相应调整现金红利派发总额。 一、审议程序 深圳市北鼎晶辉科技股份有限公司（以下简称"公司"）于 2025 年 3 月 26 日召开第四届董事会第十七次会议、第四届监事会第十七次会议，会议审议通过 了《关于 2024 年度利润分配预案的议案》。本次利润分配预案尚需经公司股东 大会审议通过后方可实施。 （一）董事会意见 董事会认为，公司本次利 ...

北鼎股份: 关于召开2024年年度股东大会的通知 证券代码：300824 证券简称：北鼎股份 公告编号：2025-015 深圳市北鼎晶辉科技股份有限公司 关于召开 2024 年年度股东大会的通知 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。 一、召开会议的基本情况 法规、部门规章、规范性文件和公司章程相关规定。 （1）现场会议签到时间：2025 年 4 月 18 日（星期五）14:00。 现场会议召开时间：2025 年 4 月 18 日（星期五）14:30。 （2）网络投票时间： （1）2025 年 4 月 15 日（星期二）下午深圳证券交易所交易结束后在中国 证券登记结算有限公司深圳分公司登记在册的公司全体股东。上述公司全体股东 均有权出席本次股东大会，并可以以书面形式委托代理人出席会议和参加表决， 该股东代理人不必是公司的股东。 （2）公司董事、监事和高级管理人员。 （3）公司聘请的见证律师。 塘朗城广场（西区）A 座 3701 大会议室。 二、会议审议事项 ①通过深交所交易系统投票：2025 年 4 月 18 日 9:15-9:25；9:30-11:3 ...

北鼎股份: 监事会决议公告 证券代码：300824 证券简称：北鼎股份 公告编号：2025-005 深圳市北鼎晶辉科技股份有限公司 第四届监事会第十七次会议决议公告 本公司及监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。 深圳市北鼎晶辉科技股份有限公司（以下简称"公司"或"北鼎股份"）第 四届监事会第十七次会议通知于 2025 年 3 月 14 日以电话、电子邮件、送达方式 或即时通讯工具等方式递交全体监事。会议于 2025 年 3 月 26 日在公司会议室以 现场和通讯相结合方式召开。会议应到监事 3 名，实到监事 3 名。本次会议的召 集符合《公司法》和《公司章程》及有关法律、法规的规定。会议由监事会主席 陈华金先生主持。经与会监事认真审议，以记名投票方式逐项表决，作出如下决 议： 票赞成，0 票反对，0 票弃权。 了公司的董事会和股东大会，对公司的决策程序和公司董事会成员及高级管理人 员履行情况进行了严格的监督。 具体内容详见公司于巨潮资讯网披露的《2024 年度监事会工作报告》。 本议案尚需提交公司股东大会审议。 果：3 票赞成，0 票反对，0 票弃权。 经审 ...