赛力斯（601127）公告，2025年第一季度营业收入191.47亿元，同比下降27.91%。净利润7.48亿元，同 比增长240.60%。 ...

山东钢铁（600022）公告，2025年第一季度营业收入192.55亿元，同比下降15.66%。净利润1.08亿元， 去年同期为-7.89亿元。归属于上市公司股东的净利润-1441.48万元，去年同期为-6.38亿元。经营活动产 生的现金流量净额15.19亿元，同比增长0.43%。 ...

浙江永强公告，2025年第一季度实现营业收入25.45亿元，同比增长11.9%；归属于上市公司股东的净利 润3.72亿元，同比增长44.53%；基本每股收益0.17元。 ...

国投中鲁（600962）公告，2025年第一季度营业收入5.73亿元，同比增长58.03%。净利润2701.12万 元，同比增长217.54%。 ...

实丰文化（002862）公告，2025年第一季度营业收入8071.98万元，同比增长22.13%。净利润222.02万 元，同比下降46.82%。 ...

耀皮玻璃：2025年第一季度净利润4266.45万元，同比增长251.98% 金十数据4月29日讯，耀皮玻璃公告，2025年第一季度营收为12.62亿元，同比下降5.40%；净利润为 4266.45万元，同比增长251.98%。 ...

Investment Rating - The investment rating for the company is "Buy" with a target price of 101.97 RMB [7][8]. Core Views - The company achieved revenue and net profit of 28.88 billion and 6.67 billion RMB in 2024, representing a year-on-year decline of 12.8% and 33.4% respectively. The fourth quarter of 2024 saw a significant drop in revenue to 1.36 billion RMB, down 52.2% year-on-year, and a net loss of 1.91 billion RMB [1][2]. - In the first quarter of 2025, the company reported revenue and net profit of 11.07 billion and 3.64 billion RMB, reflecting a year-on-year decrease of 31.9% and 39.9% respectively. The overall performance was below previous expectations due to intensified competition in the mid-range and sub-premium segments [1][4]. - The company is proactively adjusting its product offerings and channel strategies to focus on long-term healthy development, despite facing external pressures that may continue to impact sales in the short term [1][2]. Summary by Sections Financial Performance - In 2024, the company's revenue from mid-to-high-end and regular liquor was 24.32 billion and 3.93 billion RMB, with gross margins decreasing by 1.6 and 0.9 percentage points to 78.7% and 45.3% respectively. Revenue from domestic and external markets was 12.75 billion and 15.50 billion RMB, down 11.4% and 14.4% year-on-year [2][3]. - The gross margin for 2024 was 73.2%, down 2.1 percentage points, attributed to a decline in the proportion of mid-to-high-end products. The first quarter of 2025 saw a gross margin of 75.6%, with net profit margin decreasing to 32.9% [3][4]. Market Outlook - The company is focusing on high-quality development and has initiated inventory reduction measures in the first quarter of 2025. New products have been launched to fill market gaps, indicating a strategic shift towards enhancing product offerings [2][3]. - The external environment is expected to remain challenging in the short term, but there is optimism for a gradual recovery in industry demand, which could lead to improved performance [1][4]. Earnings Forecast - The earnings per share (EPS) for 2025 and 2026 are projected to be 3.09 and 3.20 RMB, with a new estimate for 2027 at 3.36 RMB. The average price-to-earnings ratio (PE) for comparable companies in 2025 is estimated at 33 times [4][6]. - The company has adjusted its revenue forecasts downward by 22% for 2025 and 2026, reflecting anticipated challenges in sales performance and competitive pressures [4][13].

海南矿业（601969）公告，2025年第一季度营收为11.89亿元，同比增长7.17%；净利润为1.6亿元，同 比下降35.20%。 ...

证券研究报告 赛轮轮胎 (601058 CH) 24 年净利增长，全球竞争力持续提升 | | | 公司发布 24 年年报与 25 年一季报，全年实现营收 318 亿元，yoy+22%， 归母净利 41 亿元（扣非后 40 亿元），yoy+31%（扣非后 yoy+27%）；Q4 营收 82 亿元，同环比+17%/-4%，归母净利 8 亿元，同环比-23%/-25%。 25Q1 公司实现营收 84 亿元，同环比+15%/+3%；实现归母净利润 10 亿元， 同环比+0.5%/+27%，公司 25Q1 净利略低于我们前瞻预期（11 亿元），主 要是受原材料成本高位影响。2024 年公司股利支付率 31%， 25 年计划实 施中期分红；公司实控人及一致行动人计划增持公司股份 5-10 亿元。考虑 美国加征关税，短期公司业绩或受一定影响，下调盈利预测；但长期伴随公 司增量产能投放，以及全球同等加税下，公司有望凭借性价比优势提升在美 份额，公司全球竞争力有望持续增强。维持"买入"评级。 24 年产销再创新高，业绩稳健增长 2024 年伴随公司新增产能放量、海外市场需求恢复、以及国内市场持续开 拓，全年轮胎产销再创新高。2 ...

2、据报道，2024年一季度，包括字节跳动、阿里巴巴和腾讯在内的中国企业已下单至少160亿美元的英 伟达H20芯片。 3、中证协正就《证券公司董事、监事、高级管理人员及证券从业人员投资行为管理指引（试行）（征 求意见稿）》向行业征求意见。据悉，此举主要是为防范从业人员违规买卖股票、内幕交易、利用未公 开信息交易、市场操纵、利益冲突和利益输送等违法违规投资行为。 4、智通财经记者独家获悉，多家基金公司收到指数公司调降指数授权费的通知，调降后指数使用费普 遍打八折。 5、移远通信一季度净利润同比增长287%，超出业绩预告同比增幅；闰土股份第一季度净利润同比增长 3543%；锦浪科技一季度净利润同比增长860%；炬芯科技第一季度净利润同比增长386%；武汉凡谷一 季度净利润同比增长195%；汇川技术第一季度净利润同比增长63.08%；兴齐眼药一季度净利润同比增 长320%；药明康德第一季度净利润同比增长89.06%；云南白药第一季度净利润同比增长14%；生益电 子一季度净利润同比增长656.87%；宏景科技一季度净利润2165.12万元，同比扭亏。 智通财经4月29日早间新闻精选 1、据报道，美国总统特朗普4月22 ...