二、董事会会议审议情况 与会董事对需审议的议案进行了充分讨论，相关议案审议和表决情况如下： 回转支承专业制造 | 证券代码：300850 | 证券简称：新强联 | 公告编号：2025-030 | | --- | --- | --- | | 债券代码：123161 | 债券简称：强联转债 | | 洛阳新强联回转支承股份有限公司 第四届董事会第十五次会议决议公告 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、董事会会议召开情况 洛阳新强联回转支承股份有限公司（以下简称"公司"）第四届董事会第十五次会 议于 2025 年 5 月 13 日下午 15：00 以现场会议方式召开，现场会议的会议地点在公司 四楼会议室，本次会议通知于 2025 年 5 月 9 日以电话通知、电子通讯通知、专人通知 等方式送达全体董事。本次会议由公司董事长肖争强先生召集和主持，会议应到董事 6 人，实到 6 人，公司监事和高级管理人员列席了本次董事会。 本次会议的召集、召开程序符合有关法律、法规、部门规章、规范性文件和《公司 章程》的规定。 三、备查文件 《洛阳新强联回转支承股份有限公 ...

Group 1: Company Performance and Orders - The company expects its overall performance in 2025 to be influenced by industry conditions and downstream customer demand, with sufficient production orders currently in hand [2] - The company is experiencing strong demand in the wind power sector, which positively impacts its order situation [3] - The company has not disclosed specific order details through contract liabilities, but it confirms a robust order backlog [3] Group 2: Product Development and Technology - The company has achieved technological breakthroughs in wind turbine gearbox bearings and plans to complete the precision component project by June 2025 [3] - There are currently no plans to enter the humanoid robot bearing market, as the company's products are primarily focused on wind power and other heavy machinery [3][5] - The company is concentrating on high-end precision bearings in the wind power sector and has no immediate plans to develop products for other applications [5] Group 3: Stock and Market Management - The company's stock price is influenced by macroeconomic factors, market trends, and policy directions, with a focus on sustainable value creation for investors [4] - The management is committed to enhancing operational performance and maintaining effective communication with investors to improve market perception [4] Group 4: Production Capacity and Future Plans - Future capacity expansion will depend on industry conditions, customer demand, and the company's overall development strategy [3] - The company is currently maximizing production capacity through equipment upgrades and process optimization to meet customer delivery requirements [3]

Core Points - The announcement highlights that the controlling shareholders of the company, Mr. Xiao Zhengqiang and Mr. Xiao Gaoqiang, experienced a passive dilution of their shareholding from 35.89% to 34.78% due to the conversion of convertible bonds, which increased the total share capital of the company [1][2] - The dilution reached the thresholds of 1% and 5% but did not involve any increase or decrease in the number of shares held by the shareholders, nor did it trigger a mandatory tender offer [1][2] Shareholding Details - The total number of shares held by the controlling shareholders remained unchanged at 6,639.9195 million shares, but their percentage ownership decreased from 18.30% to 17.74% following the increase in total share capital to 374,292,644 shares as of May 8, 2025 [1][2] - Mr. Xiao Zhengqiang's shareholding decreased from 4.58% to 4.43%, while Mr. Xiao Gaoqiang's shareholding decreased from 13.73% to 13.30% [1][2] Conversion Details - The rights change occurred between April 28, 2025, and May 8, 2025, due to the conversion of the company's convertible bonds named "Qianglian Convertible Bonds" [1][2] - The announcement confirms that the change in shareholding does not affect the company's governance structure or ongoing operations significantly [1]

回转支承专业制造 | 证券代码：300850 | 证券简称：新强联 | 公告编号：2025-029 | | --- | --- | --- | | 债券代码：123161 | 债券简称：强联转债 | | 洛阳新强联回转支承股份有限公司 关于控股股东持股比例被动稀释触及 1%及 5%整数倍的提示性公告 本公司及董事会全体成员保证公告内容与信息披露义务人提供 的信息一致。 特别提示： 1、本次权益变动主要系洛阳新强联回转支承股份有限公司（以下简称"公司"）可 转换公司债券转股导致公司总股本增加，公司控股股东、实际控制人肖争强先生、肖高 强先生合计持股数量不变，合计持股比例由 35.89%被动稀释至 34.78%，触及 1%及 5% 整数倍，不涉及股东股份增持或减持，不触及要约收购。公司控股股东、实际控制人肖 争强先生、肖高强先生为一致行动人关系。 2、本次控股股东、实际控制人持股比例被动稀释，不会使公司控股股东、实际控 制人发生变化，亦不会对公司治理结构及持续经营产生重大影响。 近日，因公司可转换公司债券"强联转债"转股，肖争强先生、肖高强先生合计持 股比例由 35.89%被动稀释至 34.78%（以截至 202 ...

Group 1: Company Operations - The company confirms revenue after delivering products to downstream customers, based on customer acceptance and contract terms [2] - The production schedule for Q2 2025 is tight, with high capacity utilization due to increased R&D and equipment upgrades [2] Group 2: Market Trends - The trend towards larger wind turbines is increasing, with significant potential for single-row tapered roller bearings in downstream applications [3] - The penetration rate of single-row tapered roller bearings is expected to rise as shipment volumes increase [3] Group 3: Product and Financial Performance - The product structure primarily consists of single-row tapered roller bearings, with efforts to enhance product quality and meet delivery requirements [3] - Overall gross margin is influenced by product shipment structure and market competition, with plans for refined production management to improve profitability [3] Group 4: Customer Demand - The company has established deep cooperation with multiple domestic wind power manufacturers, leading to a steady increase in customer demand [3]

回转支承专业制造 债券代码：123161 债券简称：强联转债 证券代码：300850 证券简称：新强联 公告编号：2025-027 洛阳新强联回转支承股份有限公司 关于"强联转债"预计触发赎回条件的提示性公告 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、误导性陈述或重大遗漏。 洛阳新强联回转支承股份有限公司（以下简称"公司"）股票价格自 2025 年 4 月 18 日至 2025 年 5 月 6 日，已有 10 个交易日的收盘价格不低于"强联转债"当期转股价 格（21.89 元/股）的 130%（即 28.46 元/股）。如后续公司股票收盘价格继续不低于当 期转股价格的 130%，预计将有可能触发"强联转债"的有条件赎回条款。根据《洛阳新 强联回转支承股份有限公司向不特定对象发行可转换公司债券募集说明书》（以下简称 "《募集说明书》"）中有条件赎回条款的相关规定，公司董事会有权决定按照债券面 值加当期应计利息的价格赎回全部或部分未转股的"强联转债"。 敬请广大投资者详细了解可转换公司债券（以下简称"可转债"）相关规定，并及 时关注公司后续公告，注意投资风险。 一、可转债基本情况 ...

回转支承专业制造 证券代码：300850 证券简称：新强联 公告编号：2025-028 债券代码：123161 债券简称：强联转债 洛阳新强联回转支承股份有限公司 关于举行 2024 年度暨 2025 年第一季度业绩说明会的公告 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。 洛阳新强联回转支承股份有限公司（以下简称"公司"）已于 2025 年 4 月 24 日 在巨潮资讯网（www.cninfo.com.cn）上披露了《2024 年年度报告》《2024 年年度报 告摘要》《2025 年第一季度报告》，为便于广大投资者更加全面、深入了解公司生产 经营情况，公司定于 2025 年 5 月 9 日（星期五）15:00-16:30 在"价值在线"（www.i r-online.cn）举行公司 2024 年度暨 2025 年第一季度业绩说明会。 一、业绩说明会召开的时间、地点和方式 会议召开时间：2025 年 05 月 09 日（星期五）15:00-16:30 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络互动方式 二、参加人员 公司董 ...

Core Viewpoint - The company reported significant growth in Q1 2025, with a net profit increase of 429% year-on-year, driven by the expansion of main shaft bearings and a favorable wind power market [1][2]. Financial Performance - In 2024, the company achieved revenue of 2.946 billion yuan, a year-on-year increase of 4.32%, but the net profit attributable to shareholders decreased by 82.56% to 65.38 million yuan [1]. - For Q1 2025, the company reported revenue of 926 million yuan, a year-on-year growth of 107.46%, while the net profit attributable to shareholders reached 170 million yuan, marking a 429.28% increase year-on-year [1]. - The gross profit margin for Q1 2025 was 26.71%, up 7.48 percentage points year-on-year, and the net profit margin was 18.95%, an increase of 30.24% year-on-year [1]. Expense Ratios - The expense ratio for 2024 was approximately 10.20%, a decrease of 0.54 percentage points year-on-year, with specific rates for sales, management, R&D, and financial expenses [2]. - In Q1 2025, the expense ratio was about 10.10%, down 2.82 percentage points year-on-year, indicating improved cost management [2]. Industry Outlook - The domestic wind power industry is experiencing an upturn, with predictions of 105-115 GW of new installations in 2025, driven by both onshore and offshore wind projects [2]. - The long-term forecast for 2024-2026 anticipates an average annual new installation capacity of 100 GW in the wind power sector, with a compound annual growth rate (CAGR) of 11% [2]. Domestic Substitution and Product Upgrades - The wind power bearing sector is seeing accelerated domestic substitution, particularly for main shaft bearings, which are characterized by high technical barriers and added value [3]. - As wind turbines become larger, there is a shift in technology routes among downstream customers, leading to increased penetration of tapered roller bearings (TRB) and independent pitch bearings [3]. Profit Forecast and Valuation - The projected net profits for 2025-2027 are approximately 463 million yuan, 556 million yuan, and 756 million yuan, representing year-on-year growth rates of 608%, 20%, and 36% respectively [4]. - The corresponding price-to-earnings ratios are estimated at 24, 20, and 15 times for the respective years [4].

回转支承专业制造 | 证券代码：300850 | 证券简称：新强联 | 公告编号：2025-026 | | --- | --- | --- | | 债券代码：123161 | 债券简称：强联转债 | | 洛阳新强联回转支承股份有限公司 关于控股股东持股比例被动稀释触及 1%整数倍的提示性公告 本公司及董事会全体成员保证公告内容与信息披露义务人提供 的信息一致。 特别提示： 1、本次权益变动主要系洛阳新强联回转支承股份有限公司（以下简称"公司"）可 转换公司债券转股导致公司总股本增加，公司控股股东、实际控制人肖争强先生、肖高 强先生合计持股数量不变，合计持股比例由 36.29%被动稀释至 35.89%，触及 1%整数倍， 不涉及股东股份增持或减持，不触及要约收购。公司控股股东、实际控制人肖争强先生、 肖高强先生为一致行动人关系。 2、本次控股股东、实际控制人持股比例被动稀释，不会使公司控股股东、实际控 制人发生变化，亦不会对公司治理结构及持续经营产生重大影响。 近日，因公司可转换公司债券"强联转债"转股，肖争强先生、肖高强先生合计持 股比例由 36.29%被动稀释至 35.89%（以截至 2025 年 4 月 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][6]. Core Views - The company's Q1 performance exceeded market expectations, with significant recovery in profitability. In Q1 2025, the company achieved a revenue of 926 million yuan, a year-on-year increase of 107.5%, and a net profit of 124 million yuan, a year-on-year increase of 415.3% [4][5]. - The increase in profitability is attributed to the growth in wind power main bearings, particularly the TRB (tapered roller bearings), which saw a revenue increase from 274 million yuan in 2024 to 126 million yuan in Q1 2025, raising its revenue share from 9.3% to 13.6% [5][6]. - The company is expected to benefit from the accelerated release of production capacity and the alleviation of fixed asset depreciation pressure, with forecasts for revenue of 4.25 billion yuan in 2025, 5.06 billion yuan in 2026, and 5.70 billion yuan in 2027 [5][7]. Summary by Sections Recent Performance - In 2024, the company reported a revenue of 2.946 billion yuan, a year-on-year growth of 4.3%, and a net profit of 149 million yuan, a year-on-year decline of 50.2%. In Q4 2024, revenue was 980 million yuan, a year-on-year increase of 34.0%, with a net profit of 88 million yuan, a year-on-year increase of 50.6% [4]. Financial Projections - The company is projected to achieve revenues of 4.25 billion yuan, 5.06 billion yuan, and 5.70 billion yuan for the years 2025, 2026, and 2027, respectively. Corresponding net profits are expected to be 498 million yuan, 654 million yuan, and 785 million yuan [5][7]. Valuation Metrics - The projected P/E ratios for the years 2025, 2026, and 2027 are 22.02x, 16.77x, and 13.97x, respectively, indicating a favorable valuation outlook as earnings grow [6][8].