证券代码：605050 证券简称：福然德 公告编号：2025-026 福然德股份有限公司 关于 2024 年度暨 2025 年第一季度业绩暨现金分红 说明会召开情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担相应法律责任。 回复：尊敬的投资者，您好。2024 年度，公司实现归属于上市公司股东的 净利润 3.17 亿元、较上年同期减少 24.11%，归属于上市公司股东的扣除非经常 性损益的净利润 2.78 亿元、较上年同期减少 28.89%，公司产品销售量和销售收 入都较去年同期增长明显，产品的市场份额保持持续增长。 福然德股份有限公司（以下简称"公司"）于 2025 年 5 月 20 日(星期二) 上 午 11:00-12:00 通 过 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/）以网络互动形式召开了公司关于 2024 年度暨 于 2025 年 4 月 30 日在上海证券交易所网站（www.sse.com.cn）进行披露，详见 《福然德股份有限公 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a potential relative price increase of over 15% [20]. Core Views - The company is expected to achieve revenue, net profit attributable to shareholders, and net profit excluding non-recurring gains and losses of 6.746 billion, 940 million, and 879 million yuan in 2024, representing year-on-year growth of 13.24%, 2.86%, and 0.40% respectively [1][3]. - In Q1 2025, the company reported revenue, net profit attributable to shareholders, and net profit excluding non-recurring gains and losses of 1.666 billion, 257 million, and 236 million yuan, with year-on-year growth of 1.41%, 10.94%, and 6.64% respectively [1][3]. - The company is advancing its globalization strategy and is firmly positioned in the "new energy vehicles + intelligent driving" product segment, aiming to deepen partnerships with leading overseas auto parts suppliers while expanding its market share in traditional small parts [1][12]. - The company is also focusing on optimizing its product structure and expanding its business from small to medium and large components, benefiting from the global trend of automotive lightweight upgrades [1][12]. Financial Performance Summary - In 2024, the company achieved total revenue of 6.746 billion yuan, a year-on-year increase of 13.24%, and a total profit of 1.091 billion yuan, up 2.5% year-on-year [2]. - The automotive segment generated revenue of 6.508 billion yuan in 2024, reflecting a growth of 14.75%, while the industrial segment saw a decline in revenue to 171 million yuan, down 27.72% [3][10]. - The company's gross margin for 2024 was 27.65%, a decrease of 1.44 percentage points year-on-year, primarily due to rising raw material costs [10][11]. Production and Capacity Expansion - The company is steadily constructing production facilities both domestically and internationally, with factories in Henshan, Ma'anshan, and Malaysia on schedule, and the first phase of the Mexico factory turning profitable [11]. - The company is also expanding its product categories to align with trends in the automotive and humanoid robot industries, maintaining a high equipment utilization rate of over 90% [11].

Core Viewpoint - The company held an online performance briefing for the 2024 fiscal year, achieving a high interaction rate with investors, answering 87 out of 88 questions posed during the session, indicating strong investor engagement and transparency [1]. Group 1: Business Operations and Growth - The company is focusing on expanding its magnesium alloy deep processing business, particularly in automotive parts, electric bicycle components, and construction templates, with significant growth expected in these areas [2]. - The company has outlined specific measures to address market competition, including upgrading magnesium smelting technology, optimizing the industrial chain layout, and promoting magnesium application technology innovation [5][6]. - The company currently has a production capacity of 100,000 tons of raw magnesium and 200,000 tons of magnesium alloy, with plans to increase capacity to 500,000 tons [43][46]. Group 2: Market Position and Strategy - The company is positioned as a core platform for the magnesium industry under Baowu Steel Group, with a commitment to avoid competition with its subsidiaries through asset restructuring and other legal means [3][4]. - The company is actively participating in international exhibitions and industry conferences to showcase its technological capabilities and expand its international customer base [5]. - The company is leveraging the current low magnesium prices to promote its products, enhancing the attractiveness of magnesium applications in various sectors [7]. Group 3: Financial Management and Investor Relations - The company has emphasized the importance of market value management, taking various measures to communicate its investment value to the market and protect the interests of minority shareholders [12][20]. - The company has not yet established a specific stock repurchase plan, despite ongoing discussions about its market value and stock price performance [17][27]. - The company reported a nearly 30% increase in accounts receivable, primarily due to rising revenues, indicating a positive sales trend [39].

Group 1: Company Overview - Jiangshun Technology specializes in aluminum profile extrusion molds and precision mechanical components, becoming a leading enterprise in the domestic market after over 20 years of industry experience [12][17]. - The company has 9 subsidiaries, focusing on customized production based on client needs [7][18]. Group 2: Market Position and Competition - The aluminum profile extrusion mold industry is characterized by a low concentration of firms, primarily consisting of small to medium-sized enterprises [4][17]. - The company has established long-term partnerships with notable clients in various sectors, including automotive lightweighting and aerospace [14][18]. Group 3: Financial Performance - In Q1 2025, the company reported a revenue of CNY 274.13 million, showing a slight increase of 5.97% in net profit compared to the previous year [16]. - The precision mechanical components segment achieved a revenue of CNY 158 million in 2024, reflecting a year-on-year growth of 18.67% [15]. Group 4: Product and Technology Advantages - The company has developed core technologies, including multi-outlet mold manufacturing and rapid extrusion mold technology, enhancing its competitive edge [3][7]. - Jiangshun Technology's products are widely used in various applications, including transportation, renewable energy, and consumer electronics [12][17]. Group 5: Future Growth and Strategy - The company aims to enhance its market competitiveness by focusing on synchronized R&D and production capabilities to meet evolving customer demands [6][10]. - Plans for overseas expansion include establishing subsidiaries in Singapore to strengthen production and service capabilities [8][10]. Group 6: Investor Relations and Shareholder Value - The company is committed to a stable profit distribution policy, considering shareholder interests while ensuring sustainable development [9][10]. - Jiangshun Technology emphasizes the importance of maintaining a stable market value through strategic management and operational efficiency [17][18].

Core Viewpoint - The automotive aluminum materials industry is experiencing rapid growth driven by the increasing demand for lightweight materials in the electric vehicle sector, with significant production and sales figures reported in China for 2023 [2][4]. Industry Overview - Automotive aluminum materials are specialized aluminum alloys used in vehicle manufacturing, characterized by their low density, corrosion resistance, high strength, and excellent heat dissipation properties [2]. - The industry is crucial for automotive lightweighting, with applications in various vehicle components such as body, chassis, and engine [2]. Market Dynamics - In 2023, China's production and sales of new energy vehicles reached 9.587 million and 9.495 million units, respectively, marking year-on-year growth of 35.8% and 37.9%, with a market share of 31.6% [2]. - The demand for automotive aluminum materials is directly influenced by the growth of the new energy vehicle market, which emphasizes the need for lightweight materials [2]. Supply Chain Analysis - The supply chain consists of upstream raw material suppliers providing bauxite, alumina, and electrolytic aluminum; midstream processing that transforms these materials into various aluminum products; and downstream customers, primarily automotive manufacturers [2][4]. Production Statistics - In 2022, China produced 81.862 million tons of alumina and 40.214 million tons of electrolytic aluminum, reinforcing its position as the largest producer and consumer of these materials globally [4]. Future Outlook - A report by Huajing Industry Research Institute forecasts the market development and investment prospects for the automotive aluminum materials industry from 2024 to 2030, highlighting the importance of understanding market trends and competitive dynamics [6].

Group 1 - Kaimete Gas (002549) announced that its subsidiary, Yueyang Kaimete Electronic Special Rare Gas Co., Ltd., has received supplier certification from Japan's GIGAPHOTON for its photolithography gas products (Kr/Ne, Ar/Ne/Xe), valid until April 24, 2030 [1] - GIGAPHOTON is a developer and manufacturer of excimer lasers for semiconductor photolithography and other applications, as well as extreme ultraviolet lithography (EUV) [1] - This certification reflects GIGAPHOTON's recognition of the company's production capabilities and product quality in photolithography gases, positively impacting the company's sales expansion in this sector [1] Group 2 - Sanlian Forging (001282) announced the completion of construction and acceptance procedures for its subsidiary's "Automotive Lightweight Forging Precision Processing Project" [1] - The total planned investment for this project is 500 million yuan, and obtaining the property rights certificate provides necessary assurance for the project's development [1]

Group 1: Company Growth Strategy - The company aims to accelerate the development of new production capabilities and focus on high-quality growth by expanding into new markets such as consumer electronics and appliances, targeting high value-added products to enhance competitiveness [5] - The establishment of a subsidiary in Suqian focusing on modified nylon materials is expected to yield higher profit margins compared to modified polypropylene [6] Group 2: Financial Metrics - The company's debt-to-asset ratio has increased from 31.62% in 2022 to 41.93% in 2024, attributed to rapid development and ongoing projects requiring financing [7] - The company has invested CNY 53.504 million in the "New Materials Digital Innovation Factory" project, which is expected to enhance automation and efficiency without changing production capacity [10] Group 3: Market Expansion - Plans to establish a wholly-owned subsidiary in Singapore to enhance overseas market development and mitigate risks from international economic fluctuations [8] - The company is focusing on the automotive sector, identifying potential for modified plastics to replace traditional metal components, contributing to vehicle lightweighting [11] Group 4: Research and Development - Continuous growth in R&D investment, focusing on advanced plastic modification technologies to improve product competitiveness and optimize product structure [12] - The company emphasizes the importance of innovation in maintaining a leading position in the modified plastics market [11] Group 5: Cash Flow Management - Strategies to improve cash flow health include better management of accounts receivable, extending credit terms with suppliers, and optimizing inventory turnover [13]

Group 1: Company Overview - Founded in 2001 and listed on the Growth Enterprise Market in 2016 [3] - Operates three major manufacturing bases located in Ningbo, Jiaxing, and Dongguan [3] - Smart home appliances accounted for over 58% of revenue in 2024 [3] Group 2: Business Strategy - Focus on binding with leading customers and optimizing product structure to enhance gross margins and business resilience [3] - Automotive parts sector is a key growth driver, utilizing Tier 1 and Tier 2 business models [3] - Tier 1 strategy emphasizes "plastic instead of steel" technology, with stable partnerships established with major automotive manufacturers [3][5] Group 3: Product Development - Transition from single-component production to integrated module solutions, enhancing product value [4] - Continuous R&D investment to apply "plastic instead of steel" technology in automotive applications [3][5] - Expansion into smart home appliance systems, aiming for sustained revenue growth [4] Group 4: Market Position and Client Relationships - Established long-term partnerships with leading automotive manufacturers such as BYD, Geely, and SAIC Volkswagen [5] - Strong client base in Tier 2, including companies like Yanfeng and Huawei [5] - New projects are expected to contribute to ongoing business growth [5] Group 5: Investment and Financial Outlook - Non-public offering aims to enhance production capacity and support the construction of the South China base [3] - Current fundraising projects are in the infrastructure phase, with equipment procurement planned based on capacity needs [6] - Minimal impact from Euro appreciation due to dollar-denominated exports and price adjustments based on exchange rate fluctuations [6]

问：亚太近年分红情况不错，后续会持续吗，谢谢 答：您好！公司2025年4月18日第六届董事会第二十六次会议审议通过了《关于2024年度利润分配预案》以实施本次 权益分派的股权登记日总股本扣除购专用证券账户股份后的股本为基数，向全体股东每10股派发现金股利2.00元人民 币(含税)；不送股；不以公积金转增股本。以2025年3月31日公司总股本1,251,517,988股扣除购专用证券账户股份 15,837,354股后的股本1,235,680,634股为基数为例进行计算，本次拟派发现金股利共计247,136,126.80元人民币(含 税)，本次实际派发现金股利总额以权益分派实施股权登记日总股本扣除购专用证券账户股份后的股本为基数确认。 同时，董事会审议通过《关于2025年度中期分红安排的议案》和《关于未来三年股东报规划(2025年-2027年)的议 案》。谢谢！ 2、公司本期盈利水平如何？ 您好！2024年度公司实现营业收入7,432,576,105.61元，同比增长4.53%，实现归属于上市公司股东的净利润 462,883,318.15元，实现归属于上市公司股东扣除非经常性损益的净利润442,822,551.8 ...

Meeting Overview - The 2024 Annual General Meeting of Bohai Automotive Systems Co., Ltd. is scheduled for May 16, 2025, at 14:00 [3] - The meeting will be held at the company's conference room located at No. 569, Bohai 21st Road, Binzhou, Shandong Province [3] - Voting will be conducted through a combination of on-site and online methods, utilizing the Shanghai Stock Exchange's network voting system [3][4] Agenda Items - The meeting will include the announcement of the meeting's commencement, selection of monitors, and review of various proposals [4] - Independent directors will present their annual work reports, which are non-voting items [4] Financial Performance - The company reported a net loss of RMB 1.26373 billion for 2024, with retained earnings of -RMB 986.20 million as of December 31, 2024 [19][20] - The proposed profit distribution plan for 2024 is to not distribute any profits or implement any capital reserve transfers due to the negative net profit [19][20] Business Operations - In 2024, the company sold 23.24 million pistons, marking a year-on-year increase of 5.25% [7] - The company has strengthened its market position in the commercial vehicle sector, particularly in the gas heavy truck market, achieving a record market share [7][8] - The company has established deep collaborations with major clients such as Chery, BYD, and Beijing Benz, contributing to increased sales of lightweight products [8] Strategic Focus - The company aims to enhance operational efficiency and profitability by focusing on core business areas, particularly piston products and lightweight business [24][25] - Plans include optimizing asset structure and promoting the revitalization of underperforming assets to achieve profitability [25] Industry Context - The automotive industry in China saw production and sales reach 31.28 million and 31.44 million vehicles respectively in 2024, maintaining a scale above 30 million [10] - The commercial vehicle market experienced a decline, with production and sales down by 5.8% and 3.9% year-on-year [10] - The trend towards lightweight vehicles is expected to accelerate due to the push for energy conservation and emissions reduction, presenting opportunities for domestic automotive parts manufacturers [11]