Financial Performance - The company's revenue for Q1 2025 was ¥151,923,828.77, representing a 23.88% increase compared to ¥122,635,714.51 in the same period last year[4] - Net profit attributable to shareholders was ¥26,808,222.42, up 20.48% from ¥22,250,807.48 year-on-year[4] - The net profit excluding non-recurring gains and losses increased by 39.19% to ¥26,433,047.07 from ¥18,990,782.41 in the previous year[4] - Basic and diluted earnings per share rose to ¥0.18, reflecting a 20.00% increase from ¥0.15[4] - Total operating revenue for the current period reached ¥151,923,828.77, a 23.9% increase from ¥122,635,714.51 in the previous period[19] - Net profit for the current period was ¥26,808,222.42, representing a 20.5% increase compared to ¥22,250,807.48 in the previous period[20] Cash Flow - The net cash flow from operating activities was -¥38,629,129.45, a significant decline of 289.99% compared to ¥20,332,297.31 in the same period last year[10] - Cash inflow from operating activities totaled ¥94,050,365.64, slightly down from ¥96,650,840.37 in the previous period[23] - The net cash flow from investment activities was ¥11.94 million, a significant improvement from -¥19.66 million last year[24] - The company reported a net cash outflow for purchasing goods and services of ¥87,413,996.88, significantly higher than ¥41,033,137.16 in the previous period[23] - Total cash outflow from operating activities amounted to $132.68 million, compared to $76.32 million last year[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,249,030,377.93, a 2.26% increase from ¥1,221,453,021.66 at the end of the previous year[4] - Total current assets amount to 1,154,183,036.62 RMB, an increase from 1,133,236,942.12 RMB at the beginning of the period[15] - Total liabilities stood at ¥286,483,211.56, a marginal increase from ¥286,177,797.32 in the previous period[18] - Total equity attributable to shareholders reached ¥962,547,166.37, up from ¥935,275,224.34, indicating a growth of 2.7%[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 12,554[12] - The largest shareholder, Yantai Mingxiang Holdings, holds 47.93% of shares, totaling 70,162,200 shares[12] - The second largest shareholder, Ishikawa Sealing, holds 11.28% of shares, totaling 16,513,920 shares[12] Expenses - Total operating costs amounted to ¥120,326,866.62, up 19.5% from ¥100,610,043.52 year-over-year[19] - Research and development expenses rose to ¥5,522,020.21, an increase of 12.7% from ¥4,901,194.28 year-over-year[20] - Tax expenses for the current period were ¥2,528,500.43, compared to ¥2,345,581.22 in the previous period, marking a 7.8% increase[20] - The company experienced a 41.49% increase in taxes and surcharges, totaling ¥1,060,680.05 compared to ¥749,624.74 in the previous year[9] Other Information - The company has not reported any changes in the status of restricted shares or any other significant matters[14] - The company has not received any disclosures regarding other relationships among shareholders[13] - The company has not yet adopted the new accounting standards effective from 2025[25]

Group 1 - The core point of the article is that Sealing Technology (301020) reported a revenue of 152 million yuan in the first quarter of 2025, representing a year-on-year growth of 23.88% [1] - The net profit for the same period was 26.81 million yuan, showing a year-on-year increase of 20.48% [1]

Summary of Conference Call Company Overview - The conference call was held for **Xinan Automotive** to discuss the annual report for **2024** of **Mifeng Technology**, a leading company in the sealing technology sector in China, particularly in heavy-duty vehicles [1][2]. Key Points Company History and Structure - Mifeng Technology was established in **1991** through a joint venture with Japan's Ishikawa, initially focusing on metal sealing gaskets [2][3]. - The company underwent a restructuring in **2015** and is now a publicly listed entity under the local state-owned enterprise **Yantai Bozhou** [2]. Product Portfolio and Market Position - The main products include metal sealing gaskets, sealing materials, and plastic boards, with metal sealing gaskets being the primary focus [4][5]. - The company covers **80%** of domestic diesel engine manufacturers, including major clients like Weichai and Cummins [4]. - The sealing gasket segment holds a **50%** market share in the heavy-duty vehicle sector, with significant growth in the metal gasket segment due to the rise of natural gas vehicles [5][6]. Financial Performance - The company reported a **13%** increase in profit, reaching **82 million** [7]. - Despite a **6%** decline in the overall commercial vehicle market, Mifeng's revenue grew due to a **60%** increase in the financial sealing board segment [7][8]. - The gross margin improved by **5 percentage points** compared to the previous year, attributed to stable raw material prices and tax benefits from manufacturing policies [8]. Production Capacity and Future Plans - The company is expanding its production capacity with a new production line expected to add over **100 million** in output [6][12]. - The new line is anticipated to be operational by the end of **2024**, with potential early output in the last quarter of **2023** [12][14]. - Future plans include the construction of additional production lines to meet growing demand [12][14]. Market Trends and Challenges - The sealing technology market is experiencing a shift towards electric and hybrid vehicles, with Mifeng preparing to enter this segment [34]. - The company faces competition from both domestic and international players, with a market share of approximately **70%** in the Weichai segment [24][25]. - The competitive landscape includes smaller manufacturers with lower quality products, which Mifeng aims to outperform through superior technology and customer service [26][27]. Raw Material Management - Mifeng has implemented strategies to stabilize raw material costs, including long-term contracts with suppliers to mitigate price fluctuations [31][32]. - The company has not experienced significant raw material price increases recently, allowing for stable production costs [32][38]. Conclusion - Mifeng Technology is well-positioned in the sealing technology market with a strong product portfolio and significant market share. The company is focused on expanding its production capacity and adapting to market trends, particularly in the electric vehicle sector, while maintaining a competitive edge through quality and innovation [36][37].

Group 1 - The company announced the change of its legal representative and the issuance of a new business license, with Mr. Qi Ganchao elected as the chairman of the fourth board of directors [1][4] - The company held its first temporary shareholders' meeting on February 28, 2025, to approve the election of the fourth board of directors and the nomination of non-independent director candidates [1] - The new business license reflects the change of legal representative to Mr. Qi Ganchao, while other registration items remain unchanged [1][2] Group 2 - The company's registered capital is 106 million yuan, and it is classified as a listed joint-stock company [2] - The company was established on February 5, 2005, and is located at No. 1, Jinbo Road, Yaotang Street, Jintan District [2] - The business scope includes the research, design, and production of precision sealing parts, rubber and plastic products, metal processing parts, and precision cavity molds, as well as import and export of goods and technologies [2]

2025年我国经济工作将坚持稳中求进工作总基调，实施更加积极有为的宏观政策，有利于进一步坚定发 展信心，激发市场活力，推动经济持续回升向好。随着一系列经济政策的出台，深化改革、发展新质生 产力和中国式现代化建设将为经济发展提供新的动力，经济预计会延续回升向好态势，特别是设备更 新、以旧换新等政策的出台，政策组合效应不断释放，将会进一步释放汽车市场潜力，对商用车市场特 别是重卡市场形成利好，全年有望实现稳中向好发展态势。加上国三国四加速淘汰、油气价差持续高位 等，物流、城配、工程需求等都将利好重卡市场，预计重卡市场会有10%以上的增长。 截至2025年4月11日收盘，密封科技（301020）报收于18.28元，较上周的21.07元下跌13.24%。本周， 密封科技4月7日盘中最高价报20.0元。4月9日盘中最低价报15.45元。本周无涨停收盘情况，共计1次跌 停收盘。密封科技当前最新总市值26.76亿元，在汽车零部件板块市值排名176/226，在两市A股市值排 名4174/5143。 本周关注点 业绩披露要点 2024年，公司营业收入实现52,681.42万元，同比增长2.84%，净利润8,189.97万元，同 ...

山东德衡（烟台）律师事务所 关于烟台石川密封科技股份有限公司 2024 年年度股东大会的 法律意见书 二〇二五年四月 山东省烟台市芝罘区西盛街 27 号 电话（传真）：0535－6209383 1 山东德衡（烟台）律师事务所 关于烟台石川密封科技股份有限公司 2024 年年度股东大会的法律意见书 德衡证见意见(2025)第 00005 号 致：烟台石川密封科技股份有限公司 山东德衡（烟台）律师事务所（以下简称"本所"）接受烟台石川密封科技股 份有限公司（以下简称"公司"）的委托，指派本所律师出席贵公司 2024 年年度 股东大会（以下简称"本次股东大会"），并对本次股东大会的合法性进行见证并 出具法律意见书。 本所及本所律师依据《中华人民共和国证券法》（以下简称"《证券法》"）、 《律师事务所从事证券法律业务管理办法》和《律师事务所证券法律业务执业规则 （试行）》等规定及本法律意见出具日以前已经发生或者存在的事实，严格履行了 法定职责，遵循了勤勉尽责和诚实信用原则，进行了充分的核查验证，保证本法律 意见书所认定的事实真实、准确、完整，所发表的结论性意见合法、准确，不存在 虚假记载、误导性陈述或者重大遗漏，并承 ...

证券代码：301020 证券简称：密封科技 公告编号：2025-016 烟台石川密封科技股份有限公司 2024 年年度股东大会决议公告 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。 特别提示： 1. 本次股东大会无新增、变更、否决提案的情形； 2. 本次股东大会不涉及变更以往股东大会已通过决议的情形。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间： （1）现场会议时间：2025年4月10日（星期四）下午14:00 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间为2025年4 月10日9:15－9:25, 9:30－11:30和13:00—15:00；通过深圳证券交易所互联网投票系统 （http://wltp.cninfo.com.cn）进行网络投票的具体时间为2025年4月10日9:15-15:00期间 的任意时间。 2、现场会议召开地点：山东省烟台市芝罘区APEC科技工业园冰轮路5号B楼三楼会议室。 3、会议召开方式：本次会议采取现场表决和网络投票相结合的方式。部分董事、监事 通过现场及视频方式参会。此次通过视频方式参 ...

Group 1: Company Performance - The company's revenue for 2024 reached 52,681.42 million, a year-on-year increase of 2.84% [7] - Net profit for 2024 was 8,189.97 million, reflecting a year-on-year growth of 13.18% [7] - The core business, sealing gaskets, accounted for 74.78% of total revenue, while the metal coated board segment grew to 15.01% of revenue, up from 8.42% in 2022 [8] Group 2: Market Conditions and Industry Outlook - The commercial vehicle market is expected to see a decline, with production and sales of commercial vehicles down by 5.8% and 3.9% respectively in 2024 [6] - The heavy truck market is projected to grow by over 10% due to favorable policies and market demand [4] - The company anticipates a strong demand for sealing products in the power generation and marine sectors, contributing to market growth [4] Group 3: Competitive Advantages and Strategies - The company’s core competitiveness lies in its unique R&D capabilities, high customer coverage, and strong brand reputation [3] - The sealing gasket products cover most domestic diesel engine manufacturers, with a significant order backlog due to increased market demand [3] - The company plans to expand into new energy and gasoline engine markets while maintaining its leadership in diesel engine sealing products [6] Group 4: Financial Management and Shareholder Value - The company has no current plans for stock buybacks or increases in shareholding, focusing instead on improving operational management and increasing dividends [5] - A three-year cash dividend plan has been established to enhance shareholder returns [5] - The company is committed to maintaining transparency and will disclose significant developments in accordance with legal requirements [11] Group 5: R&D and Innovation - R&D investment for the period was 2,476.26 million, accounting for 4.7% of revenue, primarily focused on new sealing products and new energy technologies [10] - The metal coated board segment saw a revenue increase of 62.66%, indicating strong growth potential in the market [15] - The company aims to achieve import substitution in the metal coated board sector, which is currently dominated by imported products [17]

重要内容提示： 烟台石川密封科技股份有限公司（以下简称"公司"）已于 2025 年 3 月 21 日在巨潮资讯网上披露了《2024 年年度报告》全文及其摘要。为便于广大投资 者更加全面深入地了解公司经营业绩、发展战略等情况，公司定于 2025 年 04 月 08 日（星期二）15:00-17:00 在"价值在线"（www.ir-online.cn）举办烟 台石川密封科技股份有限公司 2024 年度业绩说明会，与投资者进行沟通和交流， 广泛听取投资者的意见和建议。 会议召开时间：2025 年 04 月 08 日（星期二）15:00-17:00 会议召开方式：网络互动方式 会议召开地点：价值在线（www.ir-online.cn） 会 议 问 题 征 集 ： 投 资 者 可 于 2025 年 04 月 08 日 前 访 问 网 址 https://eseb.cn/1mZ7NdUwhWg 或使用微信扫描下方小程序码进行会前 提问，公司将通过本次业绩说明会，在信息披露允许范围内就投资者普 遍关注的问题进行回答。 证券代码：301020 证券简称：密封科技 公告编号：2025-015 烟台石川密封科技股份有限公司 关于 ...

海通证券股份有限公司 关于烟台石川密封科技股份有限公司 2024 年度跟踪报告 | 保荐机构名称：海通证券股份有限公司 | 被保荐公司简称：密封科技 | | --- | --- | | 保荐代表人姓名：曾军 | 联系电话：021-23187210 | | 保荐代表人姓名：贾磊 | 联系电话：010-56535865 | 术等方面的重大变化情况） 三、公司及股东承诺事项履行情况 一、保荐工作概述 | 项 目 | 工作内容 | | --- | --- | | 1、公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2、督导公司建立健全并有效执行规章制度的情 | | | 况 | | | （1）是否督导公司建立健全规章制度（包括但 | | | 不限于防止关联方占用公司资源的制度、募集 | 是 | | 资金管理制度、内控制度、内部审计制度、关 | | | 联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3、募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 2 | | （2）公司募集资金 ...