重庆美利信科技股份有限公司 2024 年度独立董事述职报告 各位股东及股东代表： 作为重庆美利信科技股份有限公司（以下简称"公司"）的独立董事，2024年 度本人严格按照《公司法》《证券法》《深圳证券交易所上市公司自律监管指引 第2号——创业板上市公司规范运作》《上市公司独立董事管理办法》等法律法规 的要求，认真履行职责，充分发挥独立董事的独立作用，维护公司整体利益，维 护全体股东尤其是中小股东的合法权益。 现将2024年度本人担任公司独立董事期间的履职情况报告如下： 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 商华军，1977年出生，中国国籍，无境外永久居留权，中共党员，经济学硕 士学位，中国注册会计师、中国注册税务师。曾任天健会计师事务所（特殊普通 合伙）重庆分所审计高级项目经理，中国证监会重庆监管局主任科员、副处长， 神州能源集团股份有限公司、国城矿业股份有限公司副总经理兼董事会秘书。现 任重庆冠达世纪游轮有限公司财务总监。2020年11月至今，担任公司独立董事。 2024年度任职期间，本人同时兼任重庆国际复合材料股份有限公司、威马农机股 份有限公司的独立董事。本人担任公司独立董 ...

重庆美利信科技股份有限公司 市值管理制度 第一章 总 则 第一条 为加强重庆美利信科技股份有限公司（以下简称"公司"）的市值管 理工作，进一步规范公司的市值管理行为，维护公司及广大投资者的合法权益， 根据《中华人民共和国公司法》《中华人民共和国证券法》《深圳证券交易所创业 板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上 市公司规范运作》《上市公司监管指引第 10 号——市值管理》及其他有关法律法 规，制订本制度。 第二条 本制度所称市值管理，是指上市公司以提高公司质量为基础，为提 升公司投资价值和股东回报能力而实施的战略管理行为。 第三条 上市公司应当牢固树立回报股东意识，采取措施保护投资者尤其是 中小投资者利益，诚实守信、规范运作、稳健经营，以新质生产力的培育和运用， 推动经营水平和发展质量提升，并在此基础上做好投资者关系管理，增强信息披 露质量和透明度，必要时积极采取措施提振投资者信心，推动上市公司投资价值 合理反映上市公司质量。 上市公司质量是公司投资价值的基础和市值管理的重要抓手。上市公司应当 立足提升公司质量，依法依规运用各类方式提升上市公司投资价值。 第二章 市值管理的 ...

重庆美利信科技股份有限公司 环境、社会及治理（ESG）管理制度 第一章 总 则 第一条 为进一步加强重庆美利信科技股份有限公司（以下简称"公司"）社会 责任管理，推动经济社会和环境的可持续发展，积极履行环境、社会及治理 （ESG）职责，根据《公司法》《上市公司治理准则》《企业内部控制基本规范》 《企业内部控制应用指引第4号——社会责任》《深圳证券交易所上市公司自律监 管指引第2号——创业板上市公司规范运作》等有关法律法规、规范性文件及《重 庆美利信科技股份有限公司章程》（以下简称"《公司章程》"）的相关规定， 结合公司实际情况，制定本制度。 第二条 本制度所称的ESG职责，是指公司在经营发展过程中应当履行的环境 （Environmental）、社会（Social）和公司治理（Governance）方面的责任和义 务，主要包括对自然环境和资源的保护、社会责任的承担以及公司治理的健全和 透明。 第三条 本制度所称利益相关方，是指其利益可能受到公司决策或经营活动影 响的组织或个人，包括股东（投资者）、债权人、职工、合作伙伴、客户、供应 商、社区组织和相关政府部门等。 第四条 本制度适用于公司及纳入公司合并报表范围内 ...

重庆美利信科技股份有限公司 外汇衍生品套期保值管理制度 第一章 总则 第一条 为规范重庆美利信科技股份有限公司（以下简称"公司"）及下属子 公司（以下简称"子公司"）的套期保值业务，有效防范和控制风险，加强对套 期保值业务的管理，根据《中华人民共和国证券法》《上市公司信息披露管理办 法》《深圳证券交易所上市公司自律监管指引第 7 号——交易与关联交易》等相 关法律法规、规范性文件和《公司章程》的规定，结合公司及子公司实际情况， 制定本制度。 第二条 本制度所称的套期保值业务是指外汇衍生品套期保值业务。外汇衍 生品套期保值业务是指为满足公司及子公司正常经营或业务需要，与境内外具有 相关业务经营资质的金融机构开展的用于规避和防范汇率或利率风险的各项业 务，包括但不限于远期结售汇、外汇掉期、外汇期权、利率掉期、利率期权、货 币互换、货币掉期及其组合等衍生产品业务。 第三条 本制度同时适用于公司及下属全资子公司、控股子公司开展的外汇 衍生品套期保值业务。子公司进行外汇衍生品套期保值业务视同上市公司进行期 货套期保值业务，适用本制度。未经公司同意，子公司不得操作该业务。 第四条 公司及子公司外汇衍生品套期保值业务行为除 ...

Financial Performance - The company's revenue from the automotive sector achieved significant growth compared to the same period last year, while the communication sector's revenue saw a substantial decline due to slower base station construction by major clients [4]. - Overall profit did not meet expectations, primarily due to a decrease in gross profit margin, an increase in operating expenses, and higher impairment losses during the reporting period [4]. - The company's operating revenue for 2024 reached ¥3,658,982,203.62, representing a 14.73% increase compared to ¥3,189,146,631.03 in 2023 [22]. - The net profit attributable to shareholders for 2024 was -¥163,835,838.33, a significant decline of 220.58% from ¥135,873,376.22 in 2023 [22]. - The net cash flow from operating activities decreased by 35.54% to ¥408,193,606.46 in 2024, down from ¥633,234,395.31 in 2023 [22]. - The total assets of the company increased by 25.11% to ¥7,128,038,558.71 at the end of 2024, compared to ¥5,697,467,578.01 at the end of 2023 [22]. - The company reported a basic earnings per share of -¥0.7779 for 2024, a decrease of 210.45% from ¥0.7043 in 2023 [22]. - The weighted average return on equity for 2024 was -5.17%, down from 5.09% in 2023, indicating a decline in profitability [22]. - The gross profit margin for communication components decreased by 10.33% to 6.80%, while the gross profit margin for automotive components was 9.68% [80]. Dividend Policy - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves [5]. - The company will not distribute cash dividends for the fiscal year 2024 due to a negative net profit, ensuring stable and healthy development [199]. - The total distributable profit for the company is approximately ¥244.21 million [199]. - The cash dividend amount, including other methods, is ¥0, representing 0.00% of the total profit distribution [199]. - The company has not proposed any stock dividends or capital reserve transfers for the fiscal year 2024 [200]. Research and Development - The company continues to focus on technological advancements and market expansion strategies, although specific new products or technologies were not detailed in the report [4]. - R&D investment amounted to CNY 18,374,100.0, representing 5.02% of operating revenue, an increase of 0.38 percentage points compared to the previous year [77]. - R&D investment for 2024 reached approximately ¥183.74 million, representing an increase of 24.19% from ¥147.85 million in 2023 [89]. - R&D expenditure accounted for 5.02% of total revenue in 2024, up from 4.64% in 2023 [89]. - The number of R&D personnel increased by 15.60% to 630 in 2024, with a notable rise in master's degree holders by 112.50% [89]. Market and Industry Trends - The global 5G user base reached 2.1 billion by Q3 2024, with projections indicating it will grow to 6.3 billion by 2030, representing 66% of global mobile subscribers [33][36]. - The company is positioned to benefit from the ongoing expansion of 5G networks and the increasing demand for communication infrastructure as outlined in national strategic plans [36]. - In 2024, China's automobile production and sales reached 31.282 million and 31.436 million units, respectively, representing year-on-year growth of 3.7% and 4.5%, setting historical records [38]. - In 2024, China's new energy vehicle sales reached 12.866 million units, making up 40.9% of total new car sales [39]. - The forecast for 2025 indicates that China's automobile market will continue to grow, with total sales expected to reach 32.9 million units, a year-on-year increase of 4.7% [39]. Operational Efficiency - The company has established a global production layout with bases in Chongqing, Xiangyang, Dongguan, and Ma'anshan, and is currently building a production base in North America to quickly respond to customer needs [51]. - The production model is based on "sales-driven production," allowing for flexible manufacturing tailored to customer orders, which enhances operational efficiency [58]. - The company has advanced production processes and equipment, including high-vacuum die-casting and large integrated aluminum die-casting technology, enabling it to produce complex components with high precision [70]. Risk Management - The management discussion section outlines potential risks in the company's operations and corresponding countermeasures, which investors are advised to pay attention to [4]. - The company faces risks from cyclical fluctuations in the communication and automotive industries, which could impact its performance [129]. - Increased market competition in the die-casting industry may narrow overall profit margins if the company does not maintain its competitive advantages [130]. - Fluctuations in aluminum prices could adversely affect the company's operating performance if product price adjustments do not keep pace [131]. - The company has implemented risk control measures, including training personnel and establishing reporting systems for abnormal situations [109]. Corporate Governance - The company strictly adheres to corporate governance regulations, ensuring compliance with laws and enhancing operational standards [138]. - The board of directors consists of 9 members, including 3 independent directors, meeting the legal requirements [140]. - The supervisory board is composed of 3 members, including 1 employee supervisor, in compliance with legal standards [141]. - The company has implemented an internal audit system to ensure effective risk control and operational management [142]. - The audit committee oversees the communication between internal and external audits, ensuring compliance with internal control systems [143]. Employee Management - The company reported a total of 6,196 employees, with 1,867 in the parent company and 4,954 in major subsidiaries [195]. - The employee composition includes 3,555 production staff, 80 sales personnel, 598 technical staff, and 56 financial staff [195]. - The company has implemented a performance management system to enhance employee motivation and align with strategic goals [196]. - The training program for 2024 will focus on talent development through the establishment of a five-year plan for the "Zhumai Academy" to support business growth [197]. - The company has established a comprehensive welfare system, including social insurance and holiday benefits, to support employee well-being [196].

Financial Performance - The company's revenue for Q1 2025 was ¥881,337,006.40, representing a 14.39% increase compared to ¥770,492,800.16 in the same period last year[5] - The net profit attributable to shareholders was -¥60,109,546.52, a significant decline of 1,076.12% from ¥6,158,004.67 in the previous year[5] - Basic and diluted earnings per share were both -¥0.29, a decrease of 1,066.67% from ¥0.03 in the same quarter last year[5] - Net profit for the current period was a loss of ¥60,236,043.24, compared to a profit of ¥6,486,176.40 in the previous period[19] Cash Flow - The net cash flow from operating activities decreased by 99.43%, amounting to ¥1,065,831.62 compared to ¥185,370,698.37 in Q1 2024[5] - Cash inflows from operating activities amounted to ¥898,541,521.97, slightly down from ¥908,105,722.26 in the previous period[22] - Cash flow from operating activities net amount was 1,065,831.62, a significant decrease from 185,370,698.37 in the previous period[23] - Cash outflow from operating activities totaled 897,475,690.35, up from 722,735,023.89, indicating increased operational expenses[23] - The net increase in cash and cash equivalents was -33,413,404.84, contrasting with a positive increase of 141,617,379.12 in the prior period[23] Assets and Liabilities - Total assets at the end of Q1 2025 were ¥7,145,667,058.72, a slight increase of 0.25% from ¥7,128,038,558.71 at the end of the previous year[5] - The total liabilities decreased from 3,000,000,000 CNY to 2,900,000,000 CNY, a reduction of about 3.3%[15] - The total liabilities increased to ¥4,123,969,839.41, compared to ¥4,045,558,437.91 in the previous period, reflecting a growth of 1.9%[16] - The total equity attributable to shareholders decreased to ¥3,017,254,055.78 from ¥3,077,910,460.55, a decline of 2.0%[16] Expenses - Research and development expenses increased by 42.29% to ¥49,969,566.17, driven by the gradual commissioning of the Anhui factory and new project investments[9] - Management expenses rose by 33.95% to ¥51,585,517.99, attributed to increased employee compensation and travel expenses related to the Anhui factory[9] - Total operating costs increased to ¥937,034,174.61, up 23.5% from ¥758,882,972.91 in the previous period[18] Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 20,853[11] - The largest shareholder, Meili Xin Holdings, holds 39.65% of the shares, totaling 83,513,140 shares[11] Inventory and Receivables - Accounts receivable decreased from 1,153,332,941.01 CNY to 1,017,800,353.60 CNY, a reduction of about 11.8%[14] - Inventory increased from 742,399,224.45 CNY to 824,004,509.62 CNY, an increase of approximately 11.0%[15] Investment Income - The company reported a significant increase in R&D expenses, totaling ¥49,969,566.17, which is a rise of 42.3% from ¥35,119,302.97 in the previous period[19] - The company’s investment income decreased by 142.22%, resulting in a loss of -¥473,885.11 compared to a gain of ¥1,122,477.72 in Q1 2024[9] Cash Management - The company's cash and cash equivalents decreased from 539,544,928.07 CNY to 512,514,821.13 CNY, a decline of approximately 5.7%[14] - The ending balance of cash and cash equivalents was 258,780,315.48, up from 225,699,662.83[23] - The company reported a significant decrease in cash received from investment recoveries, totaling 136,000,000.00 compared to 695,000,000.00 previously[23] - The company’s cash paid for the acquisition of fixed assets was 197,986,553.48, down from 327,679,563.57, indicating reduced capital expenditures[23] - The company’s cash paid for investments was 136,000,000.00, a decrease from 628,000,000.00, reflecting a strategic shift in investment focus[23]

本文源自：金融界 资金流向方面，4月21日，美利信主力资金净流出1059.81万元，近5日总体呈流入状态，5日共流入 2326.25万元。 重庆美利信科技股份有限公司主要从事通信领域和汽车领域铝合金精密压铸件的研发、生产和销售。通 信领域产品主要为4G、5G通信基站机体和屏蔽盖等结构件，汽车领域产品主要包括传统汽车的发动机 系统、传动系统、转向系统和车身系统以及新能源汽车的电驱动系统、车身系统和电控系统的铝合金精 密压铸件。公司前瞻性的与多家新能源汽车客户展开了合作，其中包含全球头部的两家新能源整车厂、 北美新能源新势力Rivian；国内多家造车新势力如蔚来、小鹏、智已；国内外知名一级零部件供应商， 如采埃孚、伊顿、爱信、舍弗勒等，此外公司在2024年上半年进入江淮、赛力斯、鹰峰电子等新客户的 供应体系。 最新一期业绩显示，2024年三季报，公司实现营业收入25.89亿元，同比9.63%；净利润-47934908.91 元，同比-134.16%，销售毛利率10.87%。 4月21日，美利信今日收盘23.8元，下跌1.57%，最新市净率1.57，总市值50.12亿元。 序号股票简称PE(TTM)PE(静)市净率 ...

Investment Rating - The report maintains a positive outlook on the domestic consumption electronics industry chain, suggesting a focus on companies related to this sector due to the resilience expected under the "reciprocal tariffs" policy [3]. Core Viewpoints - The report highlights that electronic products are a major category in China's exports to the US, with a total export scale of USD 125.8 billion in 2024, accounting for 24% of total exports to the US [3]. - It emphasizes the acceleration of domestic substitution due to increased tariffs, with a recommendation to focus on domestic companies in sectors significantly impacted by import tariffs, such as analog chips, CPUs, and semiconductor equipment [3]. - The report notes that the import tariff rate on all goods from the US has risen to 125%, enhancing the cost advantage of domestic products [3]. Summary by Sections Market Weekly Review - The TMT sector experienced declines across major industries, with electronics down 3.89%, computers down 5.79%, media down 6.78%, and communications down 7.67%, underperforming the CSI 300 index which fell 2.87% [3]. - The top-performing sub-industries included analog chip design (up 6.04%) and semiconductor equipment (up 2.23%), while the worst performers were communication network equipment and devices (down 11.74%) and printed circuit boards (down 10.16%) [3]. Industry News and Key Company Announcements - Significant events in the industry include the Siemens Data Center Ecosystem Conference and the 13th China Electronic Information Expo [16]. - The report mentions that global AI IT investment is projected to reach USD 315.8 billion in 2024, with a compound annual growth rate (CAGR) of 32.9% expected until 2028 [26]. - It also notes that the global generative AI market is anticipated to grow at a CAGR of 63.8%, reaching USD 284.2 billion by 2028, representing 35% of the total AI market investment [26].

Company Overview - Meilixin Technology Co., Ltd. focuses on the research, production, and sales of aluminum alloy precision die-casting parts in the communication and automotive sectors [1] - The company's products in the communication sector include structural components for 4G and 5G communication base stations, while in the automotive sector, it covers traditional and new energy vehicles' engine systems, transmission systems, steering systems, and body systems [1] Financial Performance - For the third quarter of 2024, the company reported a revenue of 2.589 billion yuan, representing a year-on-year increase of 9.63% [1] - The net profit for the same period was -47,934,908.91 yuan, showing a year-on-year decline of 134.16% [1] - The gross profit margin was recorded at 10.87% [1] Market Position - As of April 7, the company's stock closed at 18.72 yuan, down 19.21%, with a latest price-to-book ratio of 1.24 and a total market capitalization of 3.942 billion yuan [1] - The company experienced a net outflow of 3.2788 million yuan in principal funds on April 7, but had a total inflow of 8.0481 million yuan over the past five days [1] Industry Collaboration - The company has established forward-looking collaborations with several new energy vehicle clients, including leading global manufacturers and domestic new energy vehicle startups such as NIO, Xpeng, and Zhiqi [1] - Additionally, it has partnerships with well-known first-tier component suppliers like ZF, Eaton, Aisin, and Schaeffler, and is set to enter the supply chain of new clients such as JAC, Seres, and Eagle Peak Electronics in the first half of 2024 [1] Valuation Metrics - The company's price-to-earnings (P/E) ratio (TTM) is -75.27, while the industry average is 57.89, indicating a significant disparity in valuation [2] - The price-to-earnings (static) ratio stands at 29.02, with a price-to-book ratio of 1.24, compared to the industry median of 53.57 and 2.99 respectively [2]