公司2025年Q1实现营收3.9亿元，同比增长14.3%，环比变化-22.0%；实现归母净利润0.46亿元，同比增长 3.5%，环比变化-15.3%；扣非归母净利润0.4亿元，同比增长8.2%，环比变化-11.1%。 毛利率稳步提升，研发投入维持高位。盈利方面，公司2024年销售毛利率/净利率分别为37.7%/13.4%，分别 同比变化1.9pp/0.1pp。公司2025年Q1销售毛利率/净利率分别为38.1%/11.8%，分别同比变化-0.9pp/-1.2pp。 费用方面，公司2024年销售/管理/研发/财务费用率分别为11.4%/4.8%/9.8%/-0.2%，分别同比变化 2.0pp/0.2pp/0.1pp/0.0pp。 伺服毛利率趋稳向上，产品迭代降本增效。2024年公司伺服系统实现收入8.1亿元，同比增长10.6%，毛利 率为24.5%，同比增长0.2pp。公司通过自主研发，推出DS5系列高性能伺服，产品性能优异，稳定可靠，销 售占比持续提升。此外，公司积极推进变频器、步进电机等产品应用，VH5、VH6系列变频器受到市场的 广泛好评，公司变频驱动产品销售超过4500万，同比增长近40%。 PLC业务 ...

Core Viewpoint - The legal opinion letter confirms that the procedures for the 2024 annual general meeting of Shanghai Buke Automation Co., Ltd. comply with relevant laws and regulations, ensuring the legitimacy of the meeting and its resolutions [2][12]. Group 1: Meeting Procedures - The board of directors decided to hold the annual general meeting on May 16, 2025, during the ninth meeting of the fifth board on April 23, 2025 [2]. - The meeting notice was published on April 25, 2025, detailing the meeting's time, location, voting methods, and agenda [3]. - The meeting was conducted using a combination of on-site and online voting, with specific time slots for each voting method [4]. Group 2: Attendance and Qualifications - The meeting was convened by the board of directors, meeting legal and regulatory requirements [5]. - Eligible attendees included shareholders registered by May 12, 2025, and their authorized representatives, along with company directors, supervisors, and appointed lawyers [5]. - A total of 43 participants represented 60,980,377 shares, accounting for 72.5956% of the total voting shares [6]. Group 3: Agenda and Voting Results - The agenda included a proposal for the board to authorize stock issuance to specific targets [8]. - The voting results showed that 60,956,783 shares approved the proposals, representing 99.9967% of the votes cast [9][10]. - Among minority investors, 3,793,337 shares voted in favor, indicating a strong majority support [10][11]. Group 4: Conclusion - The legal opinion concludes that all aspects of the meeting, including procedures, qualifications, and voting results, are in compliance with applicable laws and the company's articles of association, rendering the resolutions valid [12].

第二条 本制度所称内部审计，是指公司内部审计机构依据国家有关法律法 规、财务会计制度和公司内部管理规定，对公司各内部机构（包括分公司，下同） 以及控股子公司的内部控制和风险管理的有效性、财务信息的真实性、完整性以 及经营活动的效率和效果等开展的一种评价活动。 合肥井松智能科技股份有限公司 内部审计制度 第一章 总 则 第一条 为了进一步规范合肥井松智能科技股份有限公司（以下简称"公司"） 内部审计工作,明确内部审计机构和人员的责任，保证审计质量，明确审计责任， 促进经营管理，提高经济效益，根据 《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《中华 人民共和国审计法》（以下简称"《审计法》"）、《关于内部审计工作的规定》、 《中国内部审计准则》以及《合肥井松智能科技股份有限公司章程》（以下简称 "《公司章程》"）规定，制定本制度。 第三条 内部审计的目的是促进公司内部控制的建立健全，有效地控制成本， 改善经营管理，规避经营风险，增加公司价值。 第四条 本制度所称内部控制，是指公司董事会、高级管理人员及其他有关人 员为实现下列目标而提供合理保证的过程： ...

证券代码：601126 证券简称：四方股份 公告编号：2025-031 北京四方继保自动化股份有限公司2024年年度权益分 ? 相关日期： | 股份类别 | 股权登记日 | | 最后交易日 | 现金红利 | | --- | --- | --- | --- | --- | | | | | | 除权（息）日 | | | | | | 发放日 | | Ａ股 | 2025/5/21 | － | 2025/5/22 | 2025/5/22 | ? 差异化分红送转：否 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 5 月 8 日的2024年年度股东会审议通过。 二、 分配方案 派实施公告 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法律责任。 重要内容提示： ? 每股分配比例： A 股每股现金红利0.72元 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 本次利润分配以方案实施前的公司总股本833,268,000股为基数，每股 ...

Business Strategy and Growth Plans - In 2025, the company will focus on aligning with national dual carbon goals and energy security strategies, expanding into new energy generation, storage, and other sectors while enhancing its core business with State Grid and Southern Grid [1] - The company aims to deepen management reforms, optimize resource allocation, and establish a comprehensive cost control system to enhance operational efficiency [2] - The company is actively exploring overseas markets, particularly in Southeast Asia, to capitalize on the accelerating investment in power grids [2] Technological Advancements - The company has developed a leading electromagnetic transient simulation technology with high precision and efficiency, contributing to revenue through applications in various provincial power research institutes and universities [3] - The new energy power prediction system utilizes multiple forecasting methods to support regional wind and solar power integration [3] Storage Solutions - The company offers comprehensive smart storage solutions, including centralized and distributed energy storage systems, with successful applications in projects like Guohua Xiantao (50MW/100MWh) and CITIC Dicastal Ningbo (1MW/2MWh) [3] Financial Performance and Profitability - Despite stable revenue growth and a solid gross margin, the company faces challenges in net profit, which has struggled to exceed 100 million [4] - The company is implementing management changes and refined operations to improve profitability and enhance product competitiveness [4] Talent Management - The company emphasizes talent acquisition and development, with a structured training system and continuous optimization of recruitment and compensation strategies to boost employee engagement [4] Integrated Solutions - The company provides integrated "light-storage-charging" solutions that combine photovoltaic generation, storage, and charging, aimed at delivering efficient energy services [4] - Successful implementation of the Datang Inner Mongolia Clean Energy Control Platform project is expected to promote further application of smart renewable energy solutions [4]

公司报告 | 年报点评报告 众辰科技（603275） 证券研究报告 产业链布局持续完善，伺服、PLC 等业务逐渐起量 公司 24 年全年及 25 年第一季度经营情况如下： 2024 年全年实现营业总收入 6.76 亿元，YOY+9.67%；归母净利润 2.15 亿 元，YOY+11.79%；扣非净利润 1.79 亿元，YOY-0.25%；毛利率 41.23%， yoy-1.4pcts，净利率 31.73%，yoy+0.55pcts。 2025Q1 实现营业总收入 1.5 亿元，YOY+3.32%；归母净利润为 4352.35 万 元，YOY-7.83%；扣非净利润为 3546.32 万元，YOY-11.9%。公司的毛利率 为 41.92%，yoy-0.8pcts；净利率为 28.73%，yoy-3.7pcts。 公司持续丰富产品线及配套建设。公司持续丰富变频器和伺服系统及其上 下游的产品线，推进配套产品体系建设，打造从驱动层到控制层、执行层 的产业链布局。芜湖与上海产能项目推进，高压变频器生产基地建设启动。 公司立足于行业客户日益增长的综合解决方案需求，为行业客户提供一体 化解决方案。 主营业务外探求新业务增 ...

【免费售后 服务一年，具体内容及订购流程欢迎咨询客服人员 】 【全新修订】：2025年5月 报告目录 2025-2031全球及中国紧凑型旋转执行器行业发展状况及项目可行性研究报告 【出版机构】：中智信投研究网 【内容部分有删减·详细可参中智信投研究网出版完整信息！】 3.5.1 亚太（中国、日本、韩国、中国台湾、印度和东南亚等）紧凑型旋转执行器销量（2020-2031） 3.5.2 亚太（中国、日本、韩国、中国台湾、印度和东南亚等）紧凑型旋转执行器收入（2020-2031） 3.6 拉美地区（墨西哥、巴西等国家） 3.6.1 拉美地区（墨西哥、巴西等国家）紧凑型旋转执行器销量（2020-2031） 3.6.2 拉美地区（墨西哥、巴西等国家）紧凑型旋转执行器收入（2020-2031） 3.7 中东及非洲 3.7.1 中东及非洲（土耳其、沙特等国家）紧凑型旋转执行器销量（2020-2031） 3.7.2 中东及非洲（土耳其、沙特等国家）紧凑型旋转执行器收入（2020-2031） 4 行业竞争格局 4.1 全球市场竞争格局及占有率分析 4.1.1 全球市场主要厂商紧凑型旋转执行器产能市场份额 4.1.2 全球市场主 ...

Group 1 - Jiangsu Province announced the first batch of specialized, refined, unique, and innovative small and medium-sized enterprises (SMEs) for 2025, with 26 companies from Kunshan making the list, ranking first in Suzhou [1] - Kunshan has a total of 86 national "little giant" enterprises and 598 provincial specialized SMEs, with the national "little giant" count leading among county-level cities in China [1] - Specialized and innovative enterprises represent SMEs that are capable of significant achievements, indicating enhanced core technology and independent innovation capabilities in Kunshan [1] Group 2 - Kunshan Zhongtaixing Automation Equipment Co., Ltd. specializes in high-precision assembly testing lines for electric control systems in new energy vehicles, achieving assembly precision within 0.01 mm [2] - The company plans a 50% year-on-year sales growth after moving to a new factory that fosters a supportive environment with upstream and downstream enterprises [2] - Kunshan has optimized its support system for specialized SMEs, enhancing policies related to financial rewards, credit support, financing channels, innovation, and industry cultivation [2] Group 3 - The "Kun Chain Loan" financial risk pool product was introduced to provide credit support for specialized SMEs and their upstream suppliers, with a total loan amount of 4.03 billion yuan for 617 enterprises [2] - This initiative has reduced financing costs by 134 million yuan, addressing the challenges of cash flow pressure and weak risk resistance for enterprises [2]

Core Viewpoint - The article discusses the performance and characteristics of the ChiNext New Energy Index, highlighting its focus on companies involved in the new energy and new energy vehicle sectors, and its historical outperformance compared to similar indices [1][4][27]. Group 1: Index Characteristics - The ChiNext New Energy Index includes 50 companies listed on the ChiNext board, focusing on the new energy and new energy vehicle industries, reflecting the overall performance of the new energy sector [1][4]. - As of May 9, 2025, the index's top five industries, including battery, photovoltaic equipment, automation equipment, wind power equipment, and metal new materials, account for 92% of the index's weight [12][21]. - The index has achieved an annualized return of 11.78% since its inception, outperforming other new energy indices [27][31]. Group 2: Valuation and Performance - The index has a high margin of safety in valuation, with a TTM price-to-earnings ratio of 24.45 and a price-to-book ratio of 3.31 as of May 9, 2025, indicating it is at the 44.7% and 34.9% historical percentiles, respectively [24]. - The index's historical performance shows a higher Sharpe ratio compared to other new energy indices, indicating better risk-adjusted returns [27][31]. Group 3: Lithium Battery Sector Insights - Leading companies in the lithium battery sector demonstrate stable profitability, with the battery segment accounting for 78.30% of the industry's profit in Q1 2023, and expected to rise to 90.10% in Q1 2024 [37]. - The financial indicators used to assess the industry cycle include weighted return on equity (ROE), quick ratio, and fixed asset turnover, suggesting that the battery sector may soon see a profitability turning point [38][39]. Group 4: Power Equipment Demand - The power equipment sector is experiencing high demand, with most companies reporting revenue growth and a robust order backlog, particularly in overseas markets [41][43]. - The industry is expected to benefit from ongoing investments in grid expansion and equipment upgrades, with significant growth in contract liabilities indicating a positive outlook for future revenue [44]. Group 5: Fund Product Overview - The Guotai ChiNext New Energy ETF closely tracks the ChiNext New Energy Index and employs a full replication strategy to minimize tracking error, with subscriptions opening on May 12 [47].

摘要 创业板新能源指数： 选取50只在创业板上市的、业务涉及新能源或新能源汽车产业的公司作为指数样本，着眼新能源+新能源汽车两大创业板产业反映创业 板新能源产业主题的总体表现。 成分股特征：聚焦新能源产业链，覆盖优质新能源龙头。 基于申万二级行业分类，截至2025年5月9日，重仓行业为电池、光伏设备、自动化设备、风电设 备和金属新材料，指数的前5大行业合计权重为92%。前十大重仓股，持仓相对集中，合计权重为64%。 风险提示： 本文仅对所研究的基金产品情况进行分析，产品的统计情况可能随着时间和市场的变化以及统计方法不同而有差异；本文仅在合理的假设范围 讨论，文中数据均为历史数据，基于模型得到的相关结论并不能完全准确地刻画现实环境以及预测未来；本文不作为任何产品的投资建议。 一、 创业板新能源指数特征解析 创业板正式开板至今，已培育一批坚守创新的科技企业，展现出创新实力和成长动能，创业板整体具备"高弹性成长"特征。截至目前，已经形成了新能源、 医药为主导的板块格局。 在全球能源危机和绿色转型的推动下，新能源行业迎来高速发展。创业板新能源指数（399266）选取50只在创业板上市的、业务涉及新能源或新能源汽车产 ...