证券代码：300926 证券简称：博俊科技 2 江苏博俊工业科技股份有限公司 投资者关系活动记录表 编号：2025-003 投资者关系活动类别 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他（电话会议） 参与单位名称、时间及地 点 2025 年 4 月 17 日 上午 10:00-11:30 博俊科技五楼会议室 华泰柏瑞基金；银河基金；华泰证券；朱雀基金；西南证 券；杭银理财；甬兴证券；天弘基金；国盛证券；富国基 金；昱奕资产；鑫元基金；中航信托；国泰君安；友安众 晟；建信资管；国投证券；西部证券；中财招商；国海证 券；信达证券；水璞基金；天风证券；中泰证券。 上市公司 接待人员 董事：伍丹丹 董事会秘书：周后高 证券事务代表：陈伦 投资者关系活动 主要内容介绍 第一部分：公司介绍环节 江苏博俊工业科技股份有限公司（以下简称"公司"） 成立于 2011 年，主要从事汽车精密零部件和精密模具的研 发、设计、生产和销售。公司产品覆盖整车上下车体，车身 1 | 模块化产品，仪表台骨架总成等；零部件产品种类覆盖转向 | | --- | | 系统、动力系统、车门系统、 ...

Core Insights - The report highlights the emergence of new product cycles for Dongshan Precision, focusing on foldable screens, robotics, and smart glasses, indicating a strategic shift towards innovative technologies [3][7]. Company Summaries Dongshan Precision (002384.SZ) - In 2024, Dongshan Precision is projected to achieve revenue of 36.79 billion yuan, a year-on-year increase of 9.33%, while the net profit attributable to shareholders is expected to decline by 44.55% to 1.09 billion yuan due to operational adjustments in the LED business [7]. - The company anticipates a significant recovery in Q1 2025, with net profit forecasted between 434 million and 463 million yuan, representing a year-on-year growth of 50%-60% [7]. - The demand for PCB and precision components is expected to rise due to the expansion of AI applications in ICT infrastructure and consumer products, leading to an increase in average selling prices (ASP) [7]. - Revenue projections for 2025 and 2026 are 43.6 billion and 50.7 billion yuan, respectively, with net profits expected to reach 3.8 billion and 4.8 billion yuan, reflecting substantial growth rates of 248.6% and 26.4% [7]. Huakin Technology (603296.SH) - Huakin Technology has established itself as a leading ODM manufacturer in the global smart hardware sector, with a diversified product structure that includes smartphones, laptops, and data center products [3]. - The company is expanding into new application areas such as servers, automotive electronics, and robotics, driven by the increasing demand for AI computing power and smart vehicle technologies [3]. - Revenue forecasts for 2024-2026 are 109.25 billion, 129.36 billion, and 152.09 billion yuan, with net profits projected at 2.88 billion, 3.41 billion, and 4.05 billion yuan, indicating growth rates of 28.0%, 18.4%, and 17.6% [3]. Hongcheng Environment (600461.SH) - Hongcheng Environment is experiencing growth in both revenue and profit, supported by an improving operational management and a robust cash flow [7]. - The company is expected to benefit from the expansion of its business segments, with net profits projected at 1.28 billion, 1.36 billion, and 1.44 billion yuan for 2025-2027 [7]. Bojun Technology (300926.SZ) - Bojun Technology is set to benefit from the release of core customer models and the ramp-up of new product capacities, with Q1 2025 net profit expected to be between 130 million and 160 million yuan, reflecting a year-on-year increase of 30%-60% [9]. - The company is focusing on lightweight and electronic components, enhancing its production capabilities and expanding into new product areas such as white body and battery packs [10].

Summary of Conference Call Company and Industry Involved - The conference call primarily focused on **Xiaopeng Motors** and its supply chain, as well as the automotive and robotics industries. - Key companies mentioned include **Guangdong Hongtu**, **Bojun Technology**, and **Xiaomi**. Core Points and Arguments 1. **Xiaopeng Motors Production Forecast**: Xiaopeng Motors is expected to produce approximately **500,000 vehicles** this year and **800,000 vehicles** next year, with significant new models anticipated [2][3]. 2. **Recommendations for Suppliers**: The call recommended **Guangdong Hongtu** and **Bojun Technology** as key suppliers for Xiaopeng Motors due to their strong business capabilities and competitive advantages [2][3]. 3. **Guangdong Hongtu's Role**: Guangdong Hongtu has established a deep partnership with Xiaopeng, providing critical components for various models, including the X9 and G9, with a unit price around **3,000 to 4,000 RMB** [3][4]. 4. **Bojun Technology's Potential**: Bojun Technology is highlighted as an undervalued supplier for Xiaopeng's M03 model, with a unit contribution of approximately **3,500 RMB** per vehicle. The company is expected to generate around **800 million RMB** in revenue this year [7][8]. 5. **Overall Revenue Growth**: The overall revenue for the company is projected to grow by **20%** this year, driven by partnerships with major clients like BYD and Geely, contributing an additional **2 billion RMB** [5][6]. 6. **Focus on Robotics**: The company is actively involved in robotics development, collaborating with Xiaopeng on various projects, including aluminum and lead alloy components [4][9]. 7. **Market Positioning**: The company is positioned to benefit from the growing demand in the automotive sector, particularly with Xiaopeng's increasing production and model diversity [8][10]. Other Important but Possibly Overlooked Content 1. **Client Structure Transformation**: The company is undergoing a significant transformation in its client structure, which is expected to enhance its growth prospects [6]. 2. **Long-term Partnerships**: The call emphasized the importance of long-term partnerships with clients like Xiaopeng, which could lead to sustained revenue growth and product development opportunities [10]. 3. **Investment Opportunities**: The conference highlighted potential investment opportunities in the automotive supply chain, particularly in companies like Guangdong Hongtu and Bojun Technology, which are seen as undervalued in the current market [8][9].

博俊科技（300926.SZ） 核心客户车型放量+新产品产能释放，带动公司业绩超预期 事件：公司发布 2025 年 Q1 业绩预告。2025 年 Q1，公司预计实现归母 净利润 1.3-1.6 亿元，同比增长 30%-60%；扣非归母净利润 1.3-1.5 亿 元，同比增长 30%-60%。 业绩超预期，主要系受益于核心客户车型放量+新产品产能释放。公司业 绩高速增长，我们预计主要受益于新能源车客户订单放量+公司车身模块 化产品产能加快释放。Q1 国内新能源车销量 307.5 万辆，同比+47%，其 中小鹏销量 9.4 万辆，同比+331%，理想销量 9.3 万辆，同比+16%，吉 利销量 70 万辆，同比+48%，长安销量 70.5 万辆，同比+2%。公司和比 亚迪等客户也有多个项目在配套，主力客户均处在强车型周期，预计随新 车发布及交付，收入有望继续高增。 车身工艺布局全面，打造白车身总成供应商。在零部件轻量化、电子化的 趋势下，行业将逐步实行产品升级，实现向集成化、模块化供货方向转变。 公司注重技术研发与创新，已掌握冲压、激光焊接、注塑、热成型、激光 切割、一体化压铸及装配等关键生产工艺和技术，且具有较 ...

Group 1 - The US government has temporarily exempted certain electronic products from tariffs, but this exemption is not permanent and will last only until a new tariff plan for the semiconductor industry is established [2][21] - China's foreign trade in the first quarter of this year reached 10.3 trillion yuan, a year-on-year increase of 1.3%, with exports growing by 6.9% and imports declining by 6% [3] - The State Administration for Market Regulation in China has introduced 37 key measures to support the development of private enterprises, focusing on breaking down barriers and promoting fair competition [4][5] Group 2 - Hong Kong is preparing to attract Chinese concept stocks back to its market, emphasizing its stability and attractiveness amid global financial market volatility [6][7] - The China Securities Regulatory Commission has emphasized the importance of functionality in the fund industry, aiming for a balance between quality and scale [8] - Insurance funds are accelerating their entry into the stock market, with the scale of long-term stock investment trials increasing from 50 billion yuan to 162 billion yuan [9] Group 3 - The US is experiencing a significant drop in import orders, with a 64% decrease in overall import volume, indicating potential disruptions in trade due to tariff policies [10][11] - The total share of stock ETFs in A-shares has surpassed 2 trillion shares, marking a historical high, with substantial inflows of capital observed in April [12] - Global pension funds are pausing investments in US assets due to uncertainties stemming from aggressive tariff policies, indicating a shift in investment strategies [13] Group 4 - The AI industry is facing scrutiny over its energy consumption, with Elon Musk's AI company xAI being investigated for violating environmental regulations related to its power generation [14] - The UK government plans to take over the British Steel Company from a Chinese firm, raising concerns about foreign investments in critical industries [15] - The consumer electronics sector is seeing increased research interest, driven by strong domestic demand policies and a surge in M&A activities in the technology field [17]

Core Viewpoint - The company, Bojun Technology, expects a significant increase in net profit for the first quarter of 2025, driven by the growth in the domestic electric vehicle market and increased consumer demand [1] Financial Performance - The estimated net profit attributable to shareholders is projected to be between 131 million and 161 million yuan, representing a year-on-year growth of 30% to 60% [1] - The net profit after deducting non-recurring gains and losses is expected to be between 126 million and 155 million yuan, also reflecting a year-on-year growth of 30% to 60% [1] - The impact of non-recurring gains and losses on the net profit attributable to shareholders is estimated to be around 500,000 yuan [1] Market and Product Insights - The growth in performance is primarily attributed to the increasing penetration rate of electric vehicles in the domestic market, which has led to a rise in sales of the company's modular products for electric vehicle bodies [1] - The accelerated release of production capacity from the company's wholly-owned subsidiary has also positively influenced the company's performance [1]

Financial Performance - The estimated net profit attributable to shareholders for Q1 2025 is projected to be between 131.19 million and 161.46 million CNY, representing a year-on-year growth of 30% to 60% compared to 100.91 million CNY in the same period last year[3] - The estimated net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be between 125.59 million and 154.57 million CNY, also reflecting a year-on-year growth of 30% to 60% from 96.61 million CNY last year[3] - The estimated impact of non-recurring gains and losses on the net profit attributable to shareholders is approximately 500,000 CNY[7] Market and Production Insights - The primary reason for the performance increase is the rising penetration rate of the domestic new energy vehicle market, which has driven the sales growth of the company's modular products for new energy vehicles[5] - The production capacity of the company's wholly-owned subsidiaries, Changzhou Bojun Technology Co., Ltd. and Chongqing Bojun Industrial Technology Co., Ltd., has accelerated during the reporting period[5] Reporting and Risk Awareness - The financial data in this earnings forecast has not been audited by an accounting firm[4] - The specific financial data for Q1 2025 will be disclosed in detail in the Q1 2025 report[8] - The company emphasizes the importance of investors being aware of investment risks[8]

中审亚太会计师事务所(特殊普通合伙) China Audit Asia Pacific Certified Public Accountants LLP 江苏博俊工业科技股份有限公司 2024 年度 内部控制鉴证报告 中国 · 北京 BEIJING CHINA 目 录 3 1 1、 内部控制鉴证报告 2、 内部控制自我评价报告 China Audit Asia Pacific Certified Public Accountants LLP 江苏博俊工业科技股份有限公司 2024 年度 内部控制鉴证报告 中审亚太审字(2025)003942 号 江苏博俊工业科技股份有限公司全体股东: 我们接受委托,审核了江苏博俊工业科技股份有限公司（以下简称"博俊 科技公司"）管理层对 2024 年 12 月 31 日与财务报表相关的内部控制有效性 的认定。 一、江苏博俊工业科技股份有限公司对内部控制的责任 博俊科技管理层的责任是建立健全内部控制并保持其有效性,同时按照 《企业内部控制基本规范》的相关规定对 2024年 12-具 31 日与财务报表相关 的内部控制有效性作出认定并确保该认定的真实性和宗 二、注册会计师的责任 ...

江苏博俊工业科技股份有限公司 前次募集资金使用情况专项报告 前次募集资金使用情况专项报告 一、前次募集资金情况 （一） 前次募集资金金额、资金到位时间 1、首次公开发行股票募集资金情况 经中国证券监督管理委员会《关于同意江苏博俊工业科技股份有限公司首次公开发 行股票注册的批复》（证监许可[2020]3326 号）批复，公司公开发行人民币普通股股票 35,533,400 股，每股发行价格为人民币 10.76 元，募集资金总额为人民币 382,339,384.00 元，扣除不含税的发行费用 55,882,311.49 元，募集资金净额为人民币 326,457,072.51 元。 该募集资金已于 2020 年 12 月 31 日到位。上述资金到位情况业经容诚会计师事务所（特 殊普通合伙）容诚验字[2020]230Z0322 号《验资报告》验证。公司对募集资金采取了专 户存储管理。 2、向特定对象发行股票募集资金情况 经中国证券监督管理委员会《关于同意江苏博俊工业科技股份有限公司向特定对象 发行股票注册的批复》（证监许可 [2022]1591 号）批复，公司向特定对象发行人民币普 通股股票 12,771,900 股， ...

中审亚太会计师事务所(特殊普通合伙) China Audit Asia Pacific Certified Public Accountants LLP 十十 AUDIT REPORT 江苏博俊工业科技股份有限公司 2022 年度、2023 年度、2024 年度 审计报告 中国 · 北京 BEIJING CHINA 目_ | 一、审计报告 | 1-5 | | --- | --- | | 二、已审财务报表 | | | 1. 合并资产负债表 | 6-7 | | 2. 合并利润表 | 8 | | 3. 合并现金流量表 | 9 | | 4. 合并所有者权益变动表 | 10-12 | | 5. 资产负债表 | 13-14 | | 6. 利润表 | 15 | | 7. 现金流量表 | 16 | | 8. 所有者权益变动表 | 17-19 | | 9. 财务报表附注 | 20-147 | China Audit Asia Pacific Certified Public Accountants LLP 审计报告 中审亚太审字(2025)003941 号 江苏博俊工业科技股份有限公司全体股东: 一、审计意见 我们审计了江苏博 ...