秘鲁总统博鲁阿尔特任命爱德华多·阿拉纳为总理。 ...

Group 1: AI Empowerment and Innovation - The company has integrated AI technologies into various stages of automotive design and development, including intelligent generation of visual effects, aerodynamic coefficient prediction, and automated component generation [2][5]. - The AI-powered automotive design product "TAI" was officially launched in March 2025, aimed at enhancing automotive design efficiency [5][6]. - Future plans include developing a series of AI tools and models to create an AI industrial design platform, enhancing the overall automotive design process [5][6]. Group 2: Financial Performance and Challenges - In 2024, the company reported a net loss of -132.85 million CNY, primarily due to low profit margins on existing orders and significant R&D investments [3][4]. - The company aims to achieve profitability in 2025 by focusing on high-quality supply for existing clients and expanding its overseas market presence [4][16]. - The overseas revenue for 2024 was 111.06 million CNY, accounting for 11.4% of total revenue, reflecting a year-on-year growth of 188.89% [4][16]. Group 3: Overseas Expansion Strategy - The company is actively expanding into international markets, particularly in Japan, the Middle East, and Eastern Europe, with a focus on providing integrated design and engineering services [3][16]. - A significant contract worth 470 million CNY was signed with Japan's AIM for vehicle manufacturing and export, indicating strong international partnerships [16][17]. - The company plans to leverage its "technology + supply chain" strategy to facilitate overseas business operations and meet the growing demand for electric vehicles globally [3][16]. Group 4: Robotics and Future Developments - The company is exploring applications of robotics in various sectors, including underwater cleaning and industrial automation, while developing an integrated design and simulation platform for robotics [15][23]. - Current robotics initiatives are in the early stages, with ongoing efforts to align automotive R&D capabilities with robotics development [15][23]. - The company aims to enhance its technological capabilities in robotics, focusing on AI-driven design and simulation processes [15][23]. Group 5: Market Position and Competitive Landscape - The company is recognized as the only independent automotive design firm listed on the A-share market, with a strong emphasis on technological innovation and R&D [24][36]. - It has established partnerships with over 80 domestic and international clients, developing nearly 500 vehicle models across various categories [24][36]. - The company holds 1,917 patents, with a notable increase in invention patents, positioning it as a leader in the automotive design industry [24][36].

欧冠的漫长历史上此前只有两支球队在首回合主场失利的情况下从半决赛晋级，阿森纳显然没有这个命。 在巴黎王子公园体育场的90分钟，阿森纳看似积极，却始终被对手牵着鼻子走，一场1比2之后，阿森纳两回合总比分1比3被巴黎圣日耳曼淘汰， 本赛季各条战线确定无缘冠军。 阿森纳屡失先手，出局并不意外 法比安-鲁伊斯的进球让阿森纳失去了翻盘的机会。 这个进球彻底将阿森纳摁在了水平面以下，虽然球员们还在困兽犹斗，但场上局面已经被完全逆转，巴黎更加从容地组织进攻，每一次转换都能 形成实质性的威胁，在《队报》的评分中，阿森纳整条防线得分尴尬，萨利巴的5分是最高分。赛后数据也显示，虽然阿森纳射门19比11领先，但 射正次数反而4比6落后。 第72分钟，阿什拉夫为巴黎打入本场比赛的第二球后，比赛已经盖棺定论。事实上，就在3分钟前，阿森纳门将刚刚扑出了维蒂尼亚主罚的点球， 整场比赛除了0比0阶段阿森纳看上去有机会外，其他时间段他们像被判了死缓的囚徒，完全乱了阵脚，即便第76分钟萨卡扳回一球，剩余的时间 里枪手追分的信心依然不足。 必须承认，巴黎拥有一位伟大的门将，多纳鲁马首回合扑出了阿森纳的两个单刀，这一回又把萨卡第63分钟一个看似不可 ...

Core Insights - The company reported a total revenue of 971 million yuan for 2024, marking a year-on-year growth of 13.17%, but faced a significant net loss of 133 million yuan, a staggering decline of 469.37% compared to the previous year [1][4] - The company's non-recurring net profit also showed poor performance, with a loss of 140 million yuan, down 1824.27% year-on-year [1][4] - Despite advancements in AI technology and overseas market expansion, the drastic drop in net profit highlights severe challenges in market competition and cost control [1][4] Revenue Growth and Profit Decline - The revenue growth of 13.17% to 971 million yuan is overshadowed by the substantial net loss, which contrasts sharply with the 205 million yuan net profit recorded in 2021 [4] - The decline in net profit is attributed to three main factors: intense price competition in the domestic automotive industry, increased R&D expenditures amounting to 220 million yuan, and provisions for credit and asset impairments based on accounting prudence [4][6] AI Technology Development - The company has made progress in applying AI technology to automotive design, integrating AI models and digital tools across various stages of the R&D process [4][5] - The launch of the "TAI" product signifies the commencement of AI technology commercialization in automotive design, although its impact on revenue growth remains to be seen [5][6] Overseas Market Expansion - The company achieved overseas revenue of 111 million yuan in 2024, reflecting a year-on-year increase of 188.89%, indicating initial success in international market expansion [6] - Collaborations with international clients, such as YAMATO in Japan, have led to the successful delivery of over a hundred electric system kits, with plans for further component exports [6] - The establishment of branches in various global markets, including a wholly-owned subsidiary in Germany, enhances the company's global presence, although challenges in brand influence and market share in international markets persist [6][7]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a revenue of 971 million yuan in 2024, a year-on-year increase of 13.17%, but a net profit attributable to shareholders of -133 million yuan, a decrease of 469.37% [4][5] - In Q1 2025, the company achieved a revenue of 269 million yuan, a year-on-year increase of 6.51%, with a net profit of 12 million yuan, down 40.23% year-on-year [4] - The report anticipates a gradual recovery in performance due to the gradual realization of automotive parts orders, maintaining the "Buy" rating [4] Financial Performance Summary - In 2024, the company’s revenue was 971 million yuan, with a year-on-year growth of 13.17% [7] - The net profit attributable to shareholders for 2024 was -133 million yuan, reflecting a significant decline of 469.37% [7] - The gross margin and net margin for 2024 were 20.65% and -15.72%, respectively, showing a year-on-year decrease of 13.13 and 19.07 percentage points [5][10] - The company plans to increase its R&D expenditure, which reached 117 million yuan in 2024, a year-on-year increase of 164.96% [5] Future Earnings Forecast - The forecast for net profit attributable to shareholders for 2025-2027 is 96 million yuan (-37 million), 145 million yuan (-72 million), and 205 million yuan, respectively [4] - The corresponding EPS for these years is projected to be 0.19 (-0.08), 0.29 (-0.15), and 0.41 yuan per share [4] - The P/E ratios for 2025, 2026, and 2027 are expected to be 49.0, 32.5, and 22.9 times, respectively [4] Strategic Developments - The company has made significant progress in its internationalization strategy, with overseas revenue reaching 111 million yuan, a year-on-year increase of 188.89% [6] - Collaborations include a successful delivery of over 100 electric system kits for the oil-to-electric project with YAMATO and a 470 million yuan procurement contract with AIM [6] - The company is also advancing in AI-enabled automotive design, launching the AI+ automotive styling design product "TAI" in early 2025 [6]

造成公司净利润承压的主要原因，系国内汽车行业竞争激烈，产业链降价压力传导至上游汽车研发设计 环节，进而导致公司近两年在手订单利润率较低，毛利率下降，影响当期净利润。 2025年4月24日晚，阿尔特发布2024年年度报告及2025年第一季度报告。公告显示，公司2024年实现营 业收入9.71亿元，归母净利润亏损1.33亿元；2025年一季度实现营业收入2.68亿元，归母净利润1239.38 万元。 值得注意的是，公司2024年海外收入实现飞跃，达1.11亿元，同比大增188.89%。 海外业务增速亮眼，奠定未来增长基石 年报中还提到，公司已与中东、东欧市场的部分整车厂达成了合作意向并签订了框架协议，且部分客户 已有订单落地。系列海外项目的顺利推进和成功交付，将为公司带来了稳定的订单和收入，为公司未来 的业绩增长提供有力支撑。并且境外业务毛利率为33.03%，显著高于境内的19.06%，境外业务的开拓 有助于公司毛利率中枢上移，增强盈利能力。 加大AI创新投入，打造汽车研发设计全新模式与业态 近年来，阿尔特大幅增加技术层面的研发投入，2024年研发费用达1.17亿元，同比增长164.96%。这也 让阿尔特在"AI ...

阿尔特汽车技术股份有限公司 2024年度 内部控制审计报告 信会师报字[2025]第 ZB10209 号 内部控制审计报告 信会师报字[2025]第 ZB10209 号 阿尔特汽车技术股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的 相关要求，我们审计了阿尔特汽车技术股份有限公司（以下简称阿 尔特汽车）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、 企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、 《企业内部控制评价指引》的规定，建立健全和有效实施内部控制， 并评价其有效性是阿尔特汽车董事会的责任。 我们的责任是在实施审计工作的基础上，对财务报告内部控制 的有效性发表审计意见，并对注意到的非财务报告内部控制的重大 缺陷进行披露。 三、 内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。 此外，由于情况的变化可能导致内部控制变得不恰当，或对控制政 策和程序遵循的程度降低，根据内部控制审计结果推测未来内部控 制的有效性具有一定风险。 内控审计报告 第 1 页 四、 财务报告内部控制审计意见 我们认为，阿尔特 ...

阿尔特汽车技术股份有限公司 非经营性资金占用及其他关联资金 往来情况的专项报告 2024年度 信会师报字[2025]第 ZB10206 号 关于阿尔特汽车技术股份有限公司 2024 年度非经营性资金占用及其他关联资金往来情 况的专项报告 信会师报字[2025]第 ZB10206 号 阿尔特汽车技术股份有限公司全体股东： 我们审计了阿尔特汽车技术股份有限公司(以下简称"阿尔特公 司")2024 年度的财务报表，包括 2024 年 12 月 31 日的合并及母公 司资产负债表、2024 年度合并及母公司利润表、合并及母公司现金流 量表、合并及母公司所有者权益变动表和相关财务报表附注，并于 2025 年 4 月 17 日出具了报告号为信会师报字(2025)第 ZB10210 号的 无保留意见审计报告。 阿尔特公司管理层根据中国证券监督管理委员会《上市公司监管 指引第 8 号——上市公司资金往来、对外担保的监管要求》（证监会 公告〔2022〕26 号）和《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》的相关规定编制了后附的 2024 年度非经营 性资金占用及其他关联资金往来情况汇总表（以下简称"汇 ...

阿尔特汽车技术股份有限公司 审计报告及财务报表 二〇二四年度 信会师报字[2025]第 ZB10210 号 阿尔特汽车技术股份有限公司 审计报告及财务报表 （2024 年 01 月 01 日至 2024 年 12 月 31 日止） | | 目录 | 页次 | | --- | --- | --- | | 一、 | 审计报告 | 1-5 | | 二、 | 财务报表 | | | | 合并资产负债表和母公司资产负债表 | 1-4 | | | 合并利润表和母公司利润表 | 5-6 | | | 合并现金流量表和母公司现金流量表 | 7-8 | | | 合并所有者权益变动表和母公司所有者权益变动表 | 9-12 | | | 财务报表附注 | 1-115 | 审计报告 信会师报字[2025]第 ZB10210 号 阿尔特汽车技术股份有限公司全体股东： 一、 审计意见 我们审计了阿尔特汽车技术股份有限公司（以下简称阿尔特汽车） 财务报表，包括 2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并及母公 司所有者权益变动表以及相关财务报表附注。 我们认为，后附 ...

阿尔特汽车技术股份有限公司全体股东： 我们审计了阿尔特汽车技术股份有限公司(以下简称"阿尔特汽 车")2024 年度的财务报表，包括 2024 年 12 月 31 日的合并及母公司 资产负债表、2024 年度合并及母公司利润表、合并及母公司现金流量 表、合并及母公司所有者权益变动表和相关财务报表附注，并于 2025 年 4 月 24 日出具了报告号为信会师报字[2025] 第 ZB10210 号的无保 留意见审计报告。 在对上述财务报表执行审计的基础上，我们接受委托，对后附的 阿尔特汽车2024年度营业收入扣除情况表（以下简称"营业收入扣除 情况表"）执行了合理保证的鉴证业务。 一、管理层的责任 阿尔特汽车管理层的责任是按照《深圳证券交易所创业板股票上 市规则》、《深圳证券交易所创业板上市公司业务办理指南第13号— —营业收入扣除相关事项》的相关规定编制营业收入扣除情况表，确 保营业收入扣除情况表真实、准确、完整，不存在虚假记载、误导性 陈述或重大遗漏。 二、注册会计师的责任 | 阿尔特汽车技术股份有限公司 | | --- | | 2024 年度 | | 营业收入扣除情况表的鉴证报告 | | 信会师报字[20 ...