Financial Performance - The company's operating revenue for 2024 was ¥1,297,156,662.77, a decrease of 16.02% compared to ¥1,544,551,385.54 in 2023[21]. - The net profit attributable to shareholders for 2024 was ¥168,255,440.74, down 22.24% from ¥216,378,428.17 in 2023[21]. - The net profit after deducting non-recurring gains and losses was ¥132,904,669.38, a decline of 35.59% from ¥206,335,540.38 in 2023[21]. - The basic earnings per share for 2024 was ¥1.78, a decrease of 35.27% compared to ¥2.75 in 2023[21]. - The total assets at the end of 2024 were ¥3,957,642,571.53, a slight increase of 0.16% from ¥3,951,469,491.15 at the end of 2023[21]. - The company's cash flow from operating activities for 2024 was ¥98,036,527.57, an increase of 21.34% from ¥80,795,267.70 in 2023[21]. - The company reported a weighted average return on equity of 5.40% for 2024, down from 14.01% in 2023[21]. - The company achieved a total revenue of 129,715.67 million yuan, a year-on-year decrease of 16.02%[67]. - Revenue from the HVAC and refrigeration equipment sector was 81,661.65 million yuan, down 31.78% year-on-year, while revenue from the new energy vehicle thermal management sector increased by 47.23% to 45,320.79 million yuan[67]. - The company's net profit attributable to ordinary shareholders was 16,825.54 million yuan, a decline of 22.24% year-on-year, with earnings per share at 1.78 yuan[67]. Dividend Distribution - The company plans to distribute a cash dividend of 3.5 RMB per 10 shares to all shareholders, based on a total of 94,311,768 shares[4]. - The total cash dividend for 2024 is set at RMB 33,009,118.80, representing 100% of the profit distribution total[182]. - The company announced a cash dividend distribution plan for 2023, distributing RMB 4.50 per 10 shares, totaling RMB 42,440,295.60[181]. - For the 2024 interim dividend, the company plans to distribute RMB 2.00 per 10 shares, totaling RMB 18,862,353.60[181]. - The company’s cash dividend policy aligns with the Company Law and relevant regulations, ensuring shareholder interests are protected[184]. Research and Development - R&D expenses for 2024 are projected to reach 12,833.52 million yuan, an increase of 2,867.18 million yuan compared to the previous year, representing a growth of 29.61%[67]. - The company holds 65 invention patents, 125 utility model patents, 5 design patents, and 69 software copyright registration certificates, reflecting a strong commitment to R&D[60]. - The company aims to expand its product line in the new energy vehicle thermal management sector to meet diverse market demands and enhance brand influence[45]. - The company has developed a comprehensive technology platform in the new energy vehicle thermal management field, with products including electric compressor controllers and battery thermal management controllers[43]. - The company is focused on expanding its influence and competitiveness in the Asian market through the development of high-power drive products[87]. Market Position and Strategy - The company operates in the power electronics and motor control sector, focusing on energy-saving and intelligent control solutions, with key products including variable frequency drives and control systems for HVAC/R, new energy vehicle thermal management systems, and servo drives[30]. - The company is positioned to benefit from government policies promoting energy efficiency standards, equipment upgrades, and carbon reduction initiatives, which are expected to drive growth in the HVAC/R sector[31][32]. - The company is expected to leverage the growth in the HVAC/R and new energy vehicle sectors to enhance its market position and drive future revenue growth[30][33]. - The company is actively involved in the development of new technologies and products to meet the evolving needs of the new energy vehicle market, particularly in thermal management systems[33]. - The company is transitioning from a single component supplier to a system solution provider, expanding its product matrix across various fields in the new energy vehicle sector[72]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report[4]. - The report includes a detailed discussion of potential risk factors and countermeasures for future development[4]. - The company has reported ongoing uncertainties regarding its ability to continue as a going concern, which may impact future operations[21]. - The company has established a robust risk management system to address potential risks associated with international expansion, including policy and market fluctuations[127]. - The company has a comprehensive risk assessment system in place to identify and mitigate operational, policy, financial, industry, and management risks[191]. Governance and Compliance - The company has improved its governance structure in compliance with relevant laws and regulations[136]. - The company has established a governance structure that includes a board of directors and specialized committees to ensure effective decision-making and accountability[191]. - The company maintains strict compliance with information disclosure regulations, ensuring timely and accurate communication with shareholders through various channels[145]. - The company has established a long-term incentive mechanism through the 2024 restricted stock incentive plan to attract and retain talent, aligning the interests of shareholders, the company, and key team members[144]. - The company has a clear governance structure that complies with legal regulations, ensuring independent decision-making and management[151]. Employee and Training Development - The company has implemented a comprehensive annual training plan covering various aspects such as onboarding, skill enhancement, and new technologies[178]. - The training program aims to improve employee professional capabilities and overall quality, aligning with the company's development strategy[178]. - The company has a structured internal assessment framework to ensure resources are allocated to long-term high performers, effectively motivating employees[177]. - The company reported a total of 1,003 employees at the end of the reporting period, with 552 in production, 50 in sales, 333 in technical roles, 16 in finance, and 52 in administration[176]. - The educational background of employees includes 83 with master's degrees or higher, 346 with bachelor's degrees, and 574 with associate degrees or lower[176].

Financial Performance - The company's revenue for Q1 2025 was ¥350,977,221.58, representing a 19.42% increase compared to ¥293,904,416.36 in the same period last year[5] - Net profit attributable to shareholders was ¥52,859,893.33, up 22.53% from ¥43,141,239.53 year-on-year[5] - The net profit excluding non-recurring gains and losses increased by 34.34% to ¥45,613,000.65 from ¥33,953,413.97 in the previous year[5] - Basic and diluted earnings per share rose by 21.74% to ¥0.56 from ¥0.46 year-on-year[5] - Total operating revenue for the current period reached ¥350,977,221.58, an increase of 19.4% compared to ¥293,904,416.36 in the previous period[22] - Net profit for the current period was ¥52,859,893.33, representing a 22.5% increase from ¥43,141,239.53 in the previous period[23] Cash Flow - The net cash flow from operating activities decreased by 58.67% to ¥27,200,229.11 from ¥65,810,866.02 in the same period last year[5] - Operating cash flow for the period was CNY 27,200,229.11, a decrease of 58.7% from CNY 65,810,866.02 in the previous period[25] - Cash inflow from operating activities totaled CNY 299,770,510.21, down 19.1% from CNY 370,551,757.23 in the previous period[25] - Cash paid for purchasing goods and services was CNY 179,939,126.82, a decrease of 19.1% from CNY 222,426,380.34 in the previous period[25] - Cash received from tax refunds was CNY 3,273,372.07, significantly higher than CNY 2,250.00 in the previous period[25] - Cash paid to employees increased to CNY 77,409,129.12, up from CNY 67,385,818.11, reflecting a rise of 15.0%[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,954,092,271.79, a slight decrease of 0.09% from ¥3,957,642,571.53 at the end of the previous year[5] - Total current assets decreased from ¥3,381,990,080.90 to ¥3,340,040,984.56, a decline of approximately 1.22%[17] - Total non-current assets increased to ¥614,051,287.23 from ¥575,652,490.63, reflecting a growth of 6.5%[20] - Total liabilities decreased to ¥732,283,023.41 from ¥788,688,838.15, a reduction of 7.1%[20] - The company’s deferred tax assets decreased to ¥20,937,378.46 from ¥26,435,647.61, a decline of 20.9%[20] Investment Activities - The company's investment income increased by 52.67% to ¥8,864,679.80 compared to ¥5,806,444.81 in the previous year[11] - The net cash flow from investing activities was significantly positive at ¥1,874,783,552.31, compared to a negative cash flow of ¥26,140,126.10 in the same period last year[13] - Total cash inflow from investment activities was CNY 2,629,396,560.58, an increase of 49.2% compared to CNY 1,761,171,831.50 in the previous period[26] - Net cash flow from investment activities was CNY 1,874,783,552.31, a significant recovery from a negative cash flow of CNY -26,140,126.10 in the previous period[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 8,313[15] - The top three shareholders hold a combined 40.90% of shares: Lei Huaigang (17.27%), Liao Yuan (13.44%), and Guan Hongfei (9.19%)[15] - The top ten shareholders collectively control 47.62% of the company's shares[15] - The company has a total of 0 preferred shareholders at the end of the reporting period[16] Operational Costs and Expenses - Total operating costs amounted to ¥303,211,748.46, up 17.7% from ¥257,497,725.88 in the prior period[22] - Research and development expenses were ¥29,995,877.11, which is an increase of 7.5% compared to ¥26,977,879.12 last year[22] Other Information - The company reported a 75.30% increase in credit impairment losses to ¥2,667,101.03 from ¥1,521,489.14 year-on-year[11] - The company reported a financial income of ¥1,701,160.49, compared to ¥7,639,372.42 in the previous period, indicating a significant decrease[22] - The company has not disclosed any new product developments or market expansion strategies in the current report[16]

上海儒竞科技股份有限公司 关于 2024 年限制性股票激励计划首次授予部分第一个归属期 归属条件未成就并作废部分已授予但尚未归属的 证券代码：301525 证券简称：儒竞科技 公告编号：2025-010 限制性股票的公告 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。 上海儒竞科技股份有限公司（以下简称"公司"）于 2025 年 4 月 22 日召开 第二届董事会第七次会议和第二届监事会第七次会议，审议通过了《关于 2024 年限制性股票激励计划首次授予部分第一个归属期归属条件未成就并作废部分 已授予但尚未归属的限制性股票的议案》。现将具体情况公告如下： 一、公司 2024 年限制性股票激励计划已履行的审批程序 1、2024 年 4 月 22 日，公司第二届董事会第二次会议和第二届监事会第二 次会议审议通过了《关于<上海儒竞科技股份有限公司 2024 年限制性股票激励计 划（草案）>及其摘要的议案》等议案。公司 2024 年限制性股票激励计划拟向激 励对象授予总计不超过 235.7794 万股限制性股票，限制性股票授予价格为 39.15 元/股。公司监事会对 ...

儒竞科技于2023年8月30日在深交所创业板上市，公开发行新股数量为23,590,000股，占发行后公司股份 总数的比例为25.01%，全部为发行新股，原股东在发行中不公开发售股份，发行价格为99.57元/股。公 司发行的保荐机构为海通证券股份有限公司，保荐代表人为宋轩宇、郑瑜。 儒竞科技上市发行募集资金总额为234,885.63万元，扣除发行费用后实际募集资金净额为214,816.95万 元。公司最终募集资金净额比原计划多116,629.75万元。儒竞科技2023年8月25日披露的招股说明书显 示，公司拟募集资金98,187.20万元，用于新能源汽车电子和智能制造产业基地、研发测试中心建设项 目、补充流动资金。 中国经济网北京4月16日讯儒竞科技（301525）(301525.SZ)今日收报64.99元，跌幅3.63%。目前该股处 于破发状态。 儒竞科技上市发行费用总额为20,068.68万元，其中保荐承销费用16,789.08万元。 上市当日，儒竞科技创下最高价144.00元，此后该股股价震荡下行。 2025年4月11日，国泰海通证券股份有限公司重组更名上市仪式在上交所举行。上交所与国泰海通签订 《证券上 ...

证券代码：301525 证券简称：儒竞科技 公告编号：2025-001 上海儒竞科技股份有限公司 关于变更持续督导保荐代表人的公告 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。 上海儒竞科技股份有限公司（以下简称"公司"）于近日收到国泰海通证券 股份有限公司（原海通证券股份有限公司，以下简称"国泰海通"）出具的《关 于更换上海儒竞科技股份有限公司首次公开发行股票持续督导之保荐代表人的 函》。国泰海通作为公司首次公开发行股票并在创业板上市的保荐机构，原指定 保荐代表人宋轩宇先生和郑瑜先生具体负责公司持续督导期间保荐工作，持续督 导期至 2026 年 12 月 31 日结束。 现因郑瑜先生工作安排原因，不能继续履行对公司的持续督导职责。为保证 持续督导工作的有序进行，国泰海通指派祁亮先生（简历见附件）接替郑瑜先生 担任公司的保荐代表人，履行持续督导职责。 本次保荐代表人变更后，公司首次公开发行股票的持续督导保荐代表人为宋 轩宇先生和祁亮先生，持续督导期至中国证券监督管理委员会和深圳证券交易所 规定的持续督导义务结束为止。本次变更不影响国泰海通对公司的持续督导工作 ...

公司报告 | 公司点评 儒竞科技（301525） 证券研究报告 欧洲热泵去库接近尾声，汽车领域预计继续高增 风险提示：行业政策风险、行业需求下滑风险、行业竞争加剧风险、新业 务进展不及预期风险。 | 财务数据和估值 | 2022 | 2023 | 2024E | 2025E | 2026E | | --- | --- | --- | --- | --- | --- | | 营业收入(百万元) | 1,613.69 | 1,544.55 | 1,590.89 | 2,068.15 | 2,688.60 | | 增长率(%) | 25.06 | (4.28) | 3.00 | 30.00 | 30.00 | | EBITDA(百万元) | 334.65 | 357.62 | 209.38 | 311.79 | 427.22 | | 归属母公司净利润(百万元) | 211.33 | 216.38 | 186.20 | 277.73 | 382.03 | | 增长率(%) | 58.03 | 2.39 | (13.95) | 49.16 | 37.55 | | EPS(元/股) | 2.24 | 2.29 | 1.9 ...

德国补贴落地+欧洲热泵去库接近尾声，热泵业务有望恢复正增长 投资建议 我们认为，伴随后续欧洲热泵去库结束、汽车热管理控制器等产品营收继续高增、以及工业领域新品开 始放量，公司业绩长期向上趋势不变。预计24-26 年公司收入分别为15.9/20.7/26.9 亿元（24-25 年前值 29.7/40.3 亿元），考虑到公司24 年营收受欧洲热泵去库影响有所下滑，下调公司盈利预测，预计24-26 年公司归母净利润分别为1.86/2.78/3.82 亿元（24-25年前值5.10/7.16 亿元），对应PE 为33X/22X/16X， 维持"买入"评级。 风险提示：行业政策风险、行业需求下滑风险、行业竞争加剧风险、新业务进展不及预期风险。 公司新能源汽车热管理领域拥有新能源汽车电动压缩机变频驱动器、新能源汽车 PTC 电加热控制器及 多合一控制器等多款核心产品，在技术水平、产品性能和市场份额等方面建立了一定优势。公司凭借多 年的战略投入、技术积累和市场开拓，已经搭建起完善的技术平台和产品平台，该领域内产品已取得国 内外众多主流整车厂的认可，2025 年预计保持高增。 工业领域产品具有多项优点，2025 年新品有望贡 ...

公司报告 | 公司点评 儒竞科技（301525） 证券研究报告 欧洲热泵去库接近尾声，汽车领域预计继续高增 德国补贴落地+欧洲热泵去库接近尾声，热泵业务有望恢复正增长 公司新能源汽车热管理领域拥有新能源汽车电动压缩机变频驱动器、新能 源汽车 PTC 电加热控制器及多合一控制器等多款核心产品，在技术水平、 产品性能和市场份额等方面建立了一定优势。公司凭借多年的战略投入、 技术积累和市场开拓，已经搭建起完善的技术平台和产品平台，该领域内 产品已取得国内外众多主流整车厂的认可，2025 年预计保持高增。 工业领域产品具有多项优点，2025 年新品有望贡献增量营收 公司在自动化领域伺服驱动及控制系统领域已经积累多项较为成熟的核心 技术，具有控制模式齐全、控制精度准确，指令方式高效、通信功能全面、 定位精度较高、控制性能较强等优点。目前公司业务产品在工业机器人、 电子制造、物流、包装机械、印刷、锂电新能源等细分行业已实现批量销 售，正进一步加大研发、拓展细分市场，2025 年工业领域新品预计贡献新 增量。 投资建议 我们认为，伴随后续欧洲热泵去库结束、汽车热管理控制器等产品营收继 续高增、以及工业领域新品开始放量，公司 ...

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。 一、募集资金的基本情况 上海儒竞科技股份有限公司 关于签署募集资金四方监管协议的公告 二、募集资金四方监管协议的签订情况和募集资金专户的开立情况 证券代码：301525 证券简称：儒竞科技 公告编号：2024-062 经中国证券监督管理委员会《关于同意上海儒竞科技股份有限公司创业板首 次公开发行股票注册的批复》（证监许可[2023]1231 号）同意注册，并经深圳证 券交易所同意，上海儒竞科技股份有限公司（以下简称"公司"）首次公开发行 人民币普通股（A 股）股票 2,359.0000 万股，每股面值 1.00 元，每股发行价格 为 99.57 元，募集资金总额为 234,885.63 万元，扣除发行费用 20,068.68 万元（不 含增值税）后，募集资金净额为 214,816.95 万元。本次募集资金于 2023 年 8 月 25 日全部到位，中汇会计师事务所（特殊普通合伙）已对公司本次公开发行新 股募集资金到位情况进行了审验，并于 2023 年 8 月 25 日出具"中汇会验 [2023]8893 号"《验 ...