非经营性资金占用及其他关联资金往来情况 汇总表的专项审计报告 关于浙江永和制冷股份有限公司 目 录 1、 专项审计报告 2、 附表 委托单位：浙江永和制冷股份有限公司 审计单位：立信会计师事务所（特殊普通合伙） 联系电话：010-63384167 ิ信会计师事务所(特殊普通合伙) HINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTAN 关于浙江永和制冷股份有限公司 非经营性资金占用及其他关联资金往来情况 的专项报告 信会师报字[2025]第 ZB10516 号 浙江永和制冷股份有限公司全体股东: 我们审计了浙江永和制冷股份有限公司(以下简称"永和股 份")2024年度的财务报表,包括 2024年 12月 31 日的合并及母公司 资产负债表、2024 年度合并及母公司利润表、合并及母公司现金流 量表、合并及母公司所有者权益变动表和相关财务报表附注,并于 2025 年 4 月 23 日出具了报告号为信会师报字[2025]第 ZB10513 号的 【无保留意见】审计报告。 中国注册会计师:冯万奇 永和股份管理层根据中国证券监督管理委员会《上市公司监管指 引第 8 号 -- 上市公司资 ...

浙江永和制冷股份有限公司 内部控制审计报告 2024 年 12月 31 日 信会师报字|2025|第 ZB10514 号 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn） 立信会计师事务所(特殊普通1 HINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNT. 内部控制审计报告 信会师报字[2025]第 ZB10514 号 浙江永和制冷股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相 关要求,我们审计了浙江永和制冷股份有限公司(以下简称"永和股 份")2024年12月 31 日的财务报告内部控制的有效性。 一、 企业对内部控制的责任 按照《企业内部控制基本规范》《企业内部控制应用指引》《企业 内部控制评价指引》的规定,建立健全和有效实施内部控制,并评价 其有效性是永和股份董事会的责任。 二、 注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的 有效性发表审计意见,并对注意到的非财务报告内部控制的重大缺陷 进行披露。 lí 内部控制的固有局限性 内部控制具有固有局限性,存在不能 ...

中信证券股份有限公司 关于浙江永和制冷股份有限公司 使用闲置自有资金购买理财产品的核查意见 中信证券股份有限公司（以下简称"中信证券""保荐人"）作为浙江永和制 冷股份有限公司（以下简称"永和股份""公司"）的保荐人，根据《证券发行上 市保荐业务管理办法》《上海证券交易所上市公司自律监管指引第 1 号——规范 运作》《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等相关法 律法规和规范性文件的规定，对永和股份本次使用闲置自有资金购买理财产品事 项进行核查，核查意见如下： 一、投资情况概述 （一）投资目的 公司为提高闲置资金使用效率，适当增加公司收益，在保证资金安全及不影 响日常业务正常开展的前提下，使用部分闲置自有资金购买理财产品，为公司和 股东谋求更多投资回报。 （二）投资金额 公司拟使用不超过 2 亿元人民币的闲置自有资金购买理财产品，在该额度内 资金可以滚动使用。 （三）资金来源 公司自有资金。 （四）投资方式 为更好地控制风险，公司拟投资购买的理财产品为安全性高、流动性好、有 预期收益的投资理财产品，包括但不限于银行理财产品、券商理财产品、信托理 财产品等。 （一）投资风险 尽管本次公司 ...

您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn】 浙江永和制冷股份有限公司 以募集资金置换预先投入募投 项目的自筹资金的鉴证报告 信会师报字[2025]第 ZB10480 号 立信会计师事务所(特殊普通合伙) BDO CHINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANTS LLP 浙江永和制冷股份有限公司 以募集资金置换预先投入募投项目的自筹资金的 鉴证报告 信会师报字[2025]第 ZB10480 号 我们按照《中国注册会计师其他鉴证业务准则第 3101 号一历史 财务信息审计或审阅以外的鉴证业务》的规定执行了鉴证业务。该准 则要求我们计划和实施鉴证工作,以对鉴证对象信息是否不存在重大 错报获取合理保证。在鉴证过程中,我们实施了包括了解、询问、检 鉴证报告 第1页 立信会计师事务所(特殊普通合伙) BDO CHINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANTS I 浙江永和制冷股份有限公司全体股东: 我们接受委托,对后附的浙江永和制冷股份有限公司(以下简称 "贵公司")管理层编制 ...

Market Performance - The Shanghai Composite Index increased by 1.19% this week, while the ChiNext Index decreased by 0.64%. The CSI 300 rose by 0.59%, and the CITIC Basic Chemical Index and Shenwan Chemical Index increased by 0.25% and 0.31%, respectively [1]. Chemical Subsector Performance - The top five performing subsectors in the chemical industry this week were dyeing chemicals (5.17%), nylon (4.77%), polyester (4.61%), phosphate and phosphorus chemicals (3.34%), and rubber additives (2.42%). The bottom five were other chemical raw materials (-2.94%), tires (-2.02%), rubber products (-1.43%), viscose (-1.3%), and soda ash (-0.89%) [1]. Industry Developments - Chuanjinnuo plans to invest 1.934 billion yuan in a phosphate chemical project in Egypt, which includes the construction of various facilities with a total annual production capacity of 800,000 tons of sulfuric acid and other phosphate products. The project aims to optimize cost structure by reducing raw material import costs [2]. - Zhejiang Jianglan signed a contract to build a 300,000-ton bio-jet fuel project in Zhoushan, with a total investment of 1.5 billion yuan. The project is expected to generate an annual output value of over 3.6 billion yuan upon reaching full capacity [2]. Investment Themes - Investment Theme 1: Domestic tire companies have strong competitiveness, with scarce growth targets worth attention. Suggested companies include Sailun Tire, Senqilin, General Motors, and Linglong Tire [2]. - Investment Theme 2: The consumer electronics sector is expected to gradually recover, benefiting upstream material companies. Suggested companies include Dongcai Technology, Stik, Light Technology, and Ruile New Materials [3]. - Investment Theme 3: Focus on resilient cyclical industries and inventory destocking leading to a bottom reversal. Suggested companies include Yuntianhua, Chuanheng Co., Xingfa Group, and Batian Co. in the phosphate chemical sector, and Juhua Co., Sanmei Co., and Yonghe Co. in the fluorochemical sector [4]. - Investment Theme 4: With economic recovery and demand resurgence, leading companies in the chemical sector are expected to benefit significantly. Suggested companies include Wanhua Chemical, Hualu Hengsheng, and Baofeng Energy [4]. - Investment Theme 5: Attention to vitamin products with supply disruptions, particularly due to BASF's announcement of force majeure affecting vitamin A and E supplies. Suggested companies include Zhejiang Medicine and New Hecheng [5].

Investment Rating - The report indicates a positive outlook for bromine prices and suggests attention to companies like Juhua Co., Sanmei Co., and Yonghe Co. in the refrigerant sector [5][23]. Core Insights - Bromine prices continue to rise significantly due to supply constraints, with a reported average market price of 38,000 RMB/ton, reflecting a week-on-week increase of 4,615 RMB/ton or 13.82% [3][11]. - The refrigerant sector is entering a peak demand season, with major refrigerant prices and margins showing an upward trend, particularly for R125 and R32 [4][28]. - The demand for ultra-high molecular weight polyethylene (UHMWPE) is steadily growing in military and technological applications, indicating potential for increased industry prosperity [5]. Summary by Sections 1. Key Chemical Product Price Tracking - Bromine, PVDF powder, and other products have seen significant price increases, while products like butadiene and PX have experienced notable declines [11][12]. 2. Polyurethane: MDI and TDI Price Declines - MDI prices have dropped significantly due to trade tensions and weak demand, with current prices for polymer MDI at 14,850 RMB/ton, down 1,100 RMB/ton from the previous week [13]. 3. Agricultural Chemicals: Slight Increase in Diammonium Phosphate Prices - Diammonium phosphate prices have seen a minor increase, supported by rising raw material costs, while glyphosate prices remain stable [15][17]. 4. Fluorochemical Industry: Stable Refrigerant Prices - Refrigerant prices have remained stable, with R22 and R134a prices holding steady at 36,000 RMB/ton and 46,500 RMB/ton respectively, while PVDF prices have shown an upward trend [23][29].

Investment Rating - The investment rating for the chemical raw materials industry is "Positive" (maintained) [1] Core Views - The refrigerant market is experiencing a sustained upward trend, with significant profit growth reported by major companies in Q1 2025, indicating a developing primary upward market [4][18] - The fluorochemical industry is entering a long-term prosperity cycle, with potential growth across various segments including refrigerants, fluorinated materials, and fine chemicals [28] Summary by Sections 1. Industry Overview - The fluorochemical index decreased by 6.06% in the week of April 7-11, 2025, underperforming the Shanghai Composite Index by 2.95% and the CSI 300 Index by 3.18% [6][30] - Major companies such as Juhua Co., Sanmei Co., Dongyangguang, and Yonghe Co. reported impressive Q1 2025 earnings, with net profit growth ranging from 139.41% to 227.05% year-on-year [7][18] 2. Pricing Trends - The average price of refrigerants has significantly increased, with Juhua Co. reporting an average price of 37,504 CNY/ton in Q1 2025, a year-on-year increase of 58.08% [19][21] - Long-term contract prices for R32 and R410a refrigerants are on the rise, indicating a strong market demand [21][29] 3. Market Dynamics - The market for refrigerants remains robust, with R32 prices reaching 48,000 CNY/ton and R410a at 47,500 CNY/ton as of April 11, 2025 [26][29] - The supply of fluorite is stable, with the average market price for 97% wet fluorite at 3,752 CNY/ton, reflecting a year-on-year increase of 7.90% [25][29] 4. Recommended Stocks - Recommended stocks include Juhua Co., Sanmei Co., Jinshi Resources, and Haohua Technology, with other beneficiaries being Dongyangguang, Yonghe Co., Dongyue Group, and Xinzhou Bang [9][28]

Core Viewpoint - The company Yonghe Co., Ltd. (605020.SH) is experiencing significant growth in its first-quarter performance for 2025, driven by the increasing demand in the refrigerant market, with projected net profits expected to rise by 144.49% to 176.74% year-on-year [1][2]. Group 1: Financial Performance - Yonghe Co., Ltd. anticipates achieving a net profit of between 91 million to 103 million yuan in the first quarter of 2025, marking a substantial increase compared to the previous year [1][2]. - The company's performance is bolstered by rising prices of its main products and strong market demand, leading to a notable increase in sales volume and profit margins [2]. Group 2: Research and Development - The company emphasizes technological innovation as a core driver of its development, with a cumulative R&D expenditure of 263 million yuan over the past five years [3]. - R&D expenses have shown a consistent increase from 16.38 million yuan in 2020 to 75.46 million yuan in 2024, reflecting the company's commitment to product innovation and technological upgrades [3]. Group 3: Capacity Expansion and Market Position - Yonghe Co., Ltd. is actively expanding its production capacity through fundraising efforts, including a recent plan to raise up to 1.736 billion yuan for new projects [4]. - The company has a complete industrial chain in the fluorochemical sector, with significant self-sufficiency in raw materials such as fluorite and anhydrous hydrofluoric acid, enhancing its competitive edge [5]. - Current production capacities include 135,000 tons of anhydrous hydrofluoric acid and 197,000 tons of methane chlorides and monochloromethane, with additional capacities under construction to further strengthen market competitiveness [5].

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [1][6][4] Core Views - The refrigerant prices have been continuously increasing, leading to significant growth in the company's performance in the first quarter of 2025, with expected net profit growth of 145%-171% year-on-year [2][5] - The company is positioned as a leader in the fluorochemical industry, benefiting from a favorable long-term market cycle for refrigerants due to supply constraints and increasing demand [3][4] - The controlling shareholder's plan to increase their stake in the company reflects confidence in its long-term development [3][16] Summary by Sections Company Performance - The company expects a net profit of 7.6-8.4 billion yuan for Q1 2025, a year-on-year increase of 145%-171%, driven by rising refrigerant prices [2][5] - The sales volume of refrigerants reached 69,800 tons in Q1 2025, a 4% increase year-on-year, with an average selling price of 37,500 yuan per ton, up 58% year-on-year and 28% quarter-on-quarter [5][7] Industry Outlook - The refrigerant market is in a long-term boom cycle, with the company holding the largest domestic quota for refrigerants, which positions it to benefit from ongoing price increases [4][33] - The fluoropolymer market is experiencing a "strong supply, weak demand" situation, with limited new capacity expected in 2025, leading to price stabilization [10][11] Financial Projections - The company’s revenue is projected to be 26.578 billion yuan in 2024, 34.628 billion yuan in 2025, and 41.375 billion yuan in 2026, with corresponding net profits of 1.999 billion yuan, 4.114 billion yuan, and 4.823 billion yuan [4][40] - The diluted EPS is expected to be 0.74 yuan in 2024, 1.52 yuan in 2025, and 1.79 yuan in 2026, with a corresponding PE ratio of 30.32, 14.76, and 12.54 respectively [4][40]

Group 1: Stock Suspension and Resumption - Beizhi Technology plans to acquire 100% of Suzhou Suike Intelligent Technology Co., Ltd., resulting in stock suspension [1] - Taihao Technology intends to issue shares to purchase 27.46% equity of Taihao Military Industry, leading to stock resumption. This acquisition is expected to strengthen the company's industrial layout in the military equipment sector [1] Group 2: Share Buyback - Wanhua Chemical's chairman proposed a share buyback plan ranging from 300 million to 500 million yuan [2] Group 3: Investment Cooperation and Operational Status - Guotai Junan has changed its A-share stock name to Guotai Haitong starting April 11 and has been approved to publicly issue company bonds not exceeding 60 billion yuan to professional investors [3] - Lizhong Group stated that the adjustment of U.S. tariffs will not significantly impact its production and operations [3] - Haoyang Co., Ltd. plans to invest no less than 603 million yuan in the construction of an entertainment equipment industrial base project [4] - Runjian Co., Ltd. is a candidate for the procurement project of comprehensive maintenance for Guangdong Unicom's 5G services, with a total bid scale of 179 million yuan [4] - Samsung Medical's wholly-owned subsidiary, Aix Smart Technology, won a transformer procurement framework project in Hungary, with a total contract amount of 23,840,958.10 euros, approximately 190 million yuan [4] - Nandu Property plans to increase its investment in Hangzhou Yunxiang Robot by 15 million yuan [5] Group 4: Performance Changes - Xiaogoods City reported a net profit of 803 million yuan in Q1, a year-on-year increase of 12.66%, mainly due to a 97 million yuan increase in gross profit from market operations and new businesses [6] - Kidswant expects a Q1 net profit between 29.1471 million and 38.4742 million yuan, a year-on-year increase of 150%-230%, driven by store upgrades, supply chain optimization, and AI development [6] - China CNR anticipates a Q1 net profit between 2.822 billion and 3.226 billion yuan, a year-on-year increase of 180%-220%, due to increased product sales [6] - Yonghe Co., Ltd. expects a Q1 net profit between 91 million and 103 million yuan, a year-on-year increase of 144.49% to 176.74%, attributed to strong demand for refrigerants and fluoropolymer materials [6] - Yinglian Co., Ltd. forecasts a Q1 net profit between 7.5 million and 11 million yuan, a year-on-year increase of 459.28%-720.28%, due to market expansion and improved gross margins [6] - Limin Co., Ltd. expects to achieve a net profit of 100 million to 120 million yuan in Q1 2025, turning a profit due to rising prices and increased sales of its main products [7] - China Aluminum anticipates a Q1 net profit between 3.4 billion and 3.6 billion yuan, a year-on-year increase of 53% to 63%, driven by increased production of major products [8] - Shandong Steel expects a total profit of approximately 15.3 million yuan in Q1 2025, with a net profit of around -1.45 million yuan, significantly reducing losses [8] - COSCO Shipping Holdings expects a Q1 net profit of 11.689 billion yuan, an increase of approximately 73.04% year-on-year [8] - Tiande Yu expects a Q1 net profit of 70.5681 million yuan, a year-on-year increase of 116.96%, driven by new product and market development [8] - Jinaobo expects a Q1 net profit between 33 million and 40 million yuan, a year-on-year increase of 128.18% to 176.59%, due to significant revenue growth in specialized equipment [8]