0 1 事 件 概 述 公司披露2024年年度报告，2024年营收2,156.91亿元，同比+0.81%；归母净利润114.03亿元，同比 +26.51%；扣非归母净利润105.27亿元，同比+30.29%；公司发布2024年度利润分配预案：以目前公司享有 利润分配权的股份总额8,715,671,296股为基数，向全体股东每10股派发现金红利人民币3.47元（含税）。 0 2 分 析 判 断 ► 2024Q4业绩超预期 业务多元化发展顺利 1 ）营收端： 公司 2024Q4 营收 537.37 亿元，同比 +0.30% ，环比 +8.64% 。 2024Q4 公司发动机配套 量累计 3.29 万台，同比 -23.33% ，环比 -0.09% ，天然气发动机配套量累计 1.62 万台，同比 -42.25% ，环比 -23.59% ，公司营收逆势实现同环比提升，业务多元化进展顺利； 2 ）利润端： 2024Q4 公司实现归 母净利润 30.02 亿元，同比 +19.46% ，环比 +20.21% 。公司 2024Q4 毛利率为 24.15% ，同环比分别 +0.49/+2.03pct ，净利率为 7.32% ，同 ...

Core Viewpoint - Chongqing is accelerating the layout of key projects around its advantageous industrial chains, particularly in the automotive sector, to promote high-quality economic development and strengthen technological and industrial innovation [1][4]. Group 1: Automotive Industry Development - Chongqing is a significant automotive manufacturing base in China, focusing on the collaborative efforts of government and enterprises to cultivate a new ecosystem for the automotive industry, particularly in the high-end new energy smart vehicle segment [4]. - The production of new energy vehicles in Chongqing is projected to reach 953,200 units in 2024, representing a year-on-year increase of 90.5% [5]. - Chongqing aims to achieve a new energy vehicle production target of 1.3 million units by 2025, with local companies enhancing product intelligence and functionality [6]. Group 2: Industrial Innovation and Technology - The automotive industry is a cornerstone of Chongqing's industrial economy, with numerous enterprises increasing investment and expanding production to enhance industrial cluster effects [7]. - The Dajiang Science and Technology City project is expected to achieve an annual production capacity of 300,000 vehicles, generating an output value of 25 billion yuan upon reaching full capacity [7]. - Chongqing is focusing on high-end equipment, new materials, and biomedicine to build strategic emerging industry clusters, with plans to develop six future industries including satellite internet and biomanufacturing [10][13]. Group 3: Circular Economy and Aftermarket - The automotive recycling business is experiencing strong growth, with companies leveraging big data and AI to transition from waste selling to remanufacturing [8][9]. - The automotive aftermarket is expanding due to the increasing number of new energy vehicles, with a focus on battery recycling, storage, and parts repair [7][9]. Group 4: Government Support and Policy Measures - Chongqing has introduced 35 policy measures to support manufacturing growth and transformation, aiming to create a conducive environment for industrial innovation [14][16]. - The city is enhancing its service to enterprises, establishing systems to proactively support business development in energy use, labor, and logistics [16][17].