证券代码：836699 证券简称：海达尔 公告编号：2025-040 无锡海达尔精密滑轨股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、 投资者关系活动类别 √特定对象调研 □业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 活动时间：2025 年 4 月 28 日至 2025 年 4 月 29 日 活动地点：线上会议 参会单位及人员：华源证券、中信建投基金、汇安基金、博远基金、开源证 券、中金公司、民生证券、华鑫证券、万和证券、中泰证券、浙商证券、国泰海 通证券、青岛中航赛维投资有限公司、上海益和源资产管理有限公司、鹏山资产、 巨鹿投资、上海汇瑾资产管理有限公司、上海天驷资产管理有限公司、远信(珠 海)私募基金管理有限公司、上海朴信投资管理有限公司、尚正基金管理有限公 司、杭州俊腾私募基金管理有限公司、陕西趋势投资管理有限公司、深圳市尚诚 资产管理有限责任公司、江苏苏豪投资集团有限公司、上海天猊投资、上海递归 私募基金管理有限公司、工银瑞信基金管理 ...

报 告 正 文 4 月制造业 PMI 回落至线下，供需两端均有走弱。服务业和建筑业商务活动指数均线上回落。 PMI 表现如何？ 4 月 全国制造业 PMI 录得 49.0% ，较上月下降 1.5 个百分点。各分项均较上月下降，其中 需求相对供给继续增强，内需相对外需大幅增强，大中小企业均落至线下运行，原材料价格和产成品价格双双 回落。 为何本月制造业 PMI 大幅下降？ 主要原因有三： 一是 前期"抢出口"影响下，制造业较快增长，导致 前期基数较高； 二是 外部环境急剧变化， 4 月 2 日美国对全球贸易伙伴强加关税压制抢出口； 三是 季节转 淡，存在一定的季节性影响。当前主要经济体制造业景气度普遍位于收缩区间， 3 月份美国制造业 PMI 为 49.0% ， 4 月份欧元区、英国、日本制造业 PMI 初值均低于临界点。 此外，有三点值得关注 ： 一是外部环境变化影响下，行业表现分化。 高技术制造业和部分内销为主的行业表 现相对稳定， 4 月高技术制造业 PMI 为 51.5% ，明显高于制造业总体水平；农副食品、酒饮料茶、医药等行 业的生产和新订单指数均位于 53.0% 及以上；服务业和建筑业商务活动预期指 ...

Group 1: Company Performance and Financials - In 2024, the company achieved a revenue of 2,159.14 million CNY, with a gross margin of 28.80%, remaining stable compared to 2023 [8] - The net profit attributable to shareholders for 2024 was 119.68 million CNY, reflecting a decline due to the absence of performance compensation recognized in 2023 [17] - As of Q1 2025, the company reported a revenue of 469 million CNY, a year-on-year increase of 20.66%, although it still faced a net loss of 17.50 million CNY [15] Group 2: Market Strategy and Business Development - The company has diversified into six business segments, including precision metal components, power, precision plastics, thermal management, intelligent manufacturing services, and electronic manufacturing, to mitigate geopolitical risks [2][13] - The company is focusing on expanding its domestic market presence, with domestic customer revenue increasing year-on-year [2][13] - Future growth areas include new energy, new consumption, and new infrastructure, with plans to enhance product solutions in these fields [12] Group 3: Customer Relationships and Confidentiality - The company collaborates with numerous well-known domestic and international clients, but specific customer details are kept confidential due to contractual obligations [3][4] - Long-term partnerships involve various stages of cooperation, including technical consulting and product development [3][4] Group 4: Industry Trends and Innovations - The MIM (Metal Injection Molding) industry is expected to grow, with the company investing in R&D, which has increased from 7.21% to 8.25% of revenue from 2021 to 2024 [9] - The company is positioned to leverage advancements in new materials and technologies to enhance its competitive edge in the market [21] Group 5: Risk Management and Investor Communication - The company emphasizes the importance of monitoring external economic conditions and adjusting strategies accordingly to manage risks [12][19] - Investors are advised to remain cautious and make informed decisions, as stock price fluctuations are influenced by various internal and external factors [5][16]

Core Viewpoint - The company, 恒星科技, is focusing on enhancing its competitive edge through technological upgrades and cost optimization in both its metal products and chemical sectors, particularly in organic silicon production [2][3][4]. Group 1: Financial Performance - In 2024, the company reported a revenue of 5.085 billion yuan and a net profit attributable to shareholders of 13.6075 million yuan [2]. - For Q1 2025, the company achieved a revenue of 1.117 billion yuan, with a net profit of 5.67 million yuan, representing a year-on-year growth of 390.5% [2][4]. - The Q1 2025 financial report indicated a revenue decline of 0.83% compared to the previous year, while the net profit increased by 390.5% [4]. - The company reported a debt ratio of 56.05% and a gross margin of 8.27% [4]. Group 2: Business Segments - The company operates in two main business segments: metal products and chemicals. The metal products segment includes the production and sales of galvanized steel wire, galvanized steel strands, and diamond wire, among others [3]. - The chemical segment primarily focuses on the production and sales of organic silicon and related products [3]. Group 3: Strategic Initiatives - The company is committed to continuous technological upgrades and market management to reduce costs and enhance efficiency [2]. - The company has successfully acquired mining rights for the Longtoushan gold mine and is working on further exploration to verify gold resource reserves [3]. - The company is exploring the tungsten wire market and has developed cold-drawing technology for tungsten wire, indicating a potential shift towards high-margin materials [2].

Core Insights - In 2024, Henggong Precision (301261.SZ) continues to focus on technology and market orientation, driving breakthroughs and applications in high-end equipment components [1] - The company reported a revenue of 1.033 billion yuan in 2024, representing a year-on-year growth of 16.91% [2] - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares, totaling 21.9725 million yuan [3] Revenue Growth - The revenue for the fourth quarter increased by 21.90% quarter-on-quarter to 286 million yuan, indicating a recovery in market demand [2] - Revenue from hydraulic equipment components grew by over 30%, with continuous casting iron and hydraulic equipment generating revenues of 338 million yuan and 341 million yuan, respectively, reflecting growth rates of 2.03% and 31.73% [4] - The transmission components revenue surged by 70.02% to 26 million yuan, while air compression components contributed 227 million yuan [4] Strategic Focus - Henggong Precision is actively developing its robot core components business, which is seen as a strategic direction for future growth [5] - The company has established partnerships with strategic clients to enhance its product offerings in the humanoid robot sector, focusing on high-value components such as RV and harmonic reducer parts [5][6] - The company is committed to increasing its R&D investment, which reached approximately 38.66 million yuan, a 30.78% increase from the previous year [7] Market Position - Henggong Precision holds a 63% market share in the domestic market for continuous casting iron products, ranking first, and a 19% share globally, ranking second [2] - The company is leveraging the "Belt and Road" initiative to enhance international cooperation and market development [4] Future Outlook - The company plans to continue expanding its production capacity for new energy vehicle components and robot structural parts, seeking new business growth points [8] - By 2025, Henggong Precision aims to enhance the proportion of precision machining core components and build a comprehensive service platform for customers [7]

Group 1: Company Performance - In 2024, the company achieved a revenue of 5.085 billion CNY and a net profit of 13.6075 million CNY [2] - In Q1 2025, the revenue was 1.117 billion CNY, with a net profit of 5.67 million CNY, representing a 390.50% increase compared to the same period last year [2] Group 2: Competitive Advantages - The company possesses independent intellectual property rights and has a cost advantage due to proximity to resources like methanol and hydrochloric acid in the production area [2] - Continuous technological upgrades and market management strategies are being implemented to enhance competitiveness and reduce costs [2] Group 3: Future Growth Prospects - The company is focusing on deepening its development in the metal products and chemical sectors, aiming to improve profitability and brand value [3] - The company has acquired mining rights for the Longtoushan gold mine and is conducting detailed exploration to assess gold resource reserves [3]

Financial Overview - The company reported significant revenue and net profit growth in Q1 2025, with total revenue reaching 720 million yuan, a year-on-year increase of 66.52% [9] - The net profit attributable to shareholders was 152 million yuan, reflecting a year-on-year growth of 41.26% [9] - The net profit after deducting non-recurring gains and losses was 146 million yuan, up 34.15% year-on-year [9] Profit Margin Analysis - Despite the substantial growth in revenue and net profit, the company's profit margins have declined, with a gross margin of 33.89%, down 12.42% year-on-year [9] - The net profit margin was reported at 21.1%, a decrease of 15.17% compared to the previous year [9] Expense and Cash Flow Management - Total operating expenses (including sales, management, and financial expenses) amounted to 38.65 million yuan, accounting for 5.37% of revenue, which is an increase of 28.61% year-on-year [9] - The company demonstrated strong cash flow management, with operating cash flow per share at 1.72 yuan, a significant increase of 95.76% year-on-year [9] - Cash and cash equivalents reached 836 million yuan, reflecting a year-on-year growth of 28.31% [9] Assets and Liabilities - Accounts receivable surged to 329 million yuan, marking a year-on-year increase of 103.81%, indicating expanded sales but also potential bad debt risks [6][9] - Interest-bearing liabilities increased dramatically to 368 million yuan, a staggering growth of 516.90%, which raises concerns about the company's financial structure [6][9] Key Financial Indicators - The company's equity per share rose to 19.8 yuan, a year-on-year increase of 44.26% [9] - Earnings per share were reported at 1.48 yuan, reflecting a growth of 39.62% year-on-year [9]

近期中洲特材（300963）发布2025年一季报，证券之星财报模型分析如下： 财务概况 主要财务指标 应收账款与有息负债 截至2025年一季度末，公司应收账款为3.28亿元，占最新年报归母净利润的比例高达343.32%。同时， 有息负债为3.24亿元，较去年同期增长72.25%。这表明公司在资金管理和债务水平方面需要进一步优 化。 现金流状况 公司货币资金为6526.12万元，同比下降16.75%。此外，近3年经营性现金流均值为负，且货币资金与流 动负债的比例仅为18.82%，显示出公司在现金流管理方面存在一定的压力。 总结 总体来看，中洲特材在2025年一季度的业绩表现不佳，营业收入和利润均出现下滑。公司需重点关注现 金流状况、应收账款管理和财务费用控制，以提升整体运营效率和盈利能力。 毛利率：20.01%，同比增长11.63%。尽管毛利率有所提升，但未能扭转整体业绩下滑的趋势。 净利率：6.15%，同比下降1.19%。 三费占营收比：6.71%，同比增长36.27%。销售费用、管理费用和财务费用的增加对公司利润产 生了负面影响。 每股净资产：3.24元，同比下降24.53%。 每股经营性现金流：-0.05 ...

Core Viewpoint - The announcement details the first quarterly report of Guizhou Steel Rope Co., Ltd. for 2025, emphasizing the accuracy and completeness of the financial information provided by the board and management [1][5][30]. Financial Data - The first quarter financial statements for 2025 have not been audited [2]. - The report includes major accounting data and financial indicators, although specific figures are not provided in the text [2][3]. Shareholder Information - The total number of ordinary shareholders and the situation of the top ten shareholders are mentioned, but specific details are not disclosed [3]. Board Meeting Resolutions - The first meeting of the ninth board of directors was held on April 28, 2025, with all nine directors present [5][6]. - Resolutions passed include the election of Ma Xianhong as the chairman of the board and the establishment of various committees, including the strategic, audit, nomination, and compensation committees [6][7][8][10]. - Yang Cheng was appointed as the general manager, and other key management positions were filled, including the board secretary and vice general managers [8][10][11]. Investor Communication - The company will participate in the 2025 Guizhou District Listed Companies Investor Collective Reception Day to enhance communication with investors regarding the 2024 annual performance and the first quarter of 2025 [22][24]. - The event will be held online, allowing investors to interact and ask questions about the company's performance [24][25][26].