9月26日晚，华菱精工发布公告称，公司董事会、监事会通过议案，终止向特定对象上饶巨准启鸣企业管理合伙企业（有限合伙）（以下简称上饶巨准） 发行A股股票事项。本次定增终止将导致上饶巨准收购公司控制权事项终止，公司的控股股东仍为黄业华，实际控制人仍为黄业华、马息萍、黄超（三人 为一家人）。 此前在2024年12月6日，华菱精工通过了《关于公司2024年度向特定对象发行A股股票方案的议案》等相关议案，同时公司与上饶巨准签订了附条件生效 的股份认购协议，拟向其定向发行不超过4亿股股份（不超过发行前公司总股本的30%）。发行完成后上饶巨准将成为华菱精工控股股东，郑剑波将成为 公司新实际控制人。 2025年3月10日，公司召开股东大会审议通过了上述定增议案等与本次发行相关的议案，批准公司本次发行并授权董事会全权办理相关事宜。但其间大半 年时间，不知何故华菱精工始终未向上交所提交发行申请文件。 华菱精工董事会给出的理由非常模板化，称"综合考虑当前资本市场环境情况变化、公司发展规划等诸多因素，经相关各方充分沟通、审慎分析后，公司 决定终止向特定对象发行A股股票事项"。 中国基金报记者注意到，2023年5月以来，华菱精工也曾谋 ...

Core Viewpoint - The stock price of Hualing Precision Engineering has decreased, reflecting challenges in its financial performance and market conditions [1] Company Summary - Hualing Precision Engineering's stock price is reported at 13.34 yuan, down by 0.51 yuan from the previous trading day, with a trading volume of 61,306 hands and a transaction amount of 0.83 billion yuan [1] - The company specializes in the research, development, production, and sales of elevator counterweight products and sheet metal products, with applications in the elevator manufacturing sector and involvement in renewable energy fields such as wind and solar power [1] Financial Performance - According to the company's 2025 semi-annual report, it achieved an operating revenue of 4.45 billion yuan, representing a year-on-year decline of 20.48% [1] - The net profit attributable to shareholders of the listed company was -0.46 billion yuan, indicating an expanded loss compared to the same period last year [1] - The basic earnings per share were reported at -0.35 yuan [1]

Core Viewpoint - The company reported a significant decline in revenue and incurred losses in 2024, primarily due to industry slowdown, reduced market orders, intensified competition, and impairment of goodwill from acquisitions [3][21][24]. Group 1: Company Financial Performance - In 2024, the company achieved operating revenue of 1.121 billion yuan, a decrease of 27.8% compared to the previous year [3][21]. - The company recorded a net loss of 158 million yuan, attributed to decreased revenue, lower gross margins, and impairment losses on goodwill and fixed assets [3][21][24]. - The gross profit margin declined due to falling product prices and reduced sales orders [21][24]. Group 2: Operational Highlights - The board of directors conducted regular meetings and adhered to legal regulations, ensuring effective governance and decision-making [3][5]. - The company implemented a share repurchase plan, acquiring shares worth 80.03 million yuan during the reporting period [12][21]. - The company plans to issue up to 40 million shares to specific investors, aiming to raise no more than 453.2 million yuan for working capital and debt repayment [12][19]. Group 3: Governance and Compliance - The board and supervisory committee actively monitored compliance with laws and regulations, ensuring the protection of shareholder rights [10][18]. - The supervisory committee raised concerns regarding potential misconduct by senior management and recommended legal action [10][19]. - The company disclosed 140 temporary announcements during the reporting period, enhancing transparency and compliance with information disclosure obligations [11][18]. Group 4: Future Outlook - The company aims to achieve a sales revenue target of 1.2 billion yuan in 2025, reflecting a strategic focus on recovery and growth [24]. - The board will continue to enhance corporate governance and investor relations to improve market perception and operational efficiency [12][19].

Core Viewpoint - In 2024, the company experienced a decline in both revenue and net profit, attributed to intensified competition in the elevator parts industry and challenges in the military simulation sector [2][3] Financial Performance - The company reported total revenue of 469 million yuan in 2024, a year-on-year decrease of 6.80% - The net profit attributable to shareholders was 9.96 million yuan, down 87.80% year-on-year - In Q1 2025, revenue fell by 25.86% to 54.24 million yuan, with a net profit of -15.13 million yuan, indicating a shift from profit to loss [2][3] Business Segments - The company has established a dual business model focusing on elevator control systems and military simulation products, with the latter contributing significantly to profits in 2024 - Excluding the military simulation segment, the elevator control systems reported a net loss of 6.96 million yuan [2][3] Industry Challenges - The elevator parts industry is facing unprecedented challenges, including fierce competition and seasonal downturns, impacting overall revenue and profit [2][3] - The military simulation business is characterized by a unique industry nature, leading to fewer contract verifications and revenue generation [3] Strategic Developments - The company acquired a controlling stake in Beijing Lingwei Junrong Technology Co., Ltd., enhancing its dual business structure [2] - The military simulation segment focuses on developing products for aviation combat training, with a key product being the portable general digital air combat simulation system [3] Integration and Collaboration - The company is working on integrating resources between its existing operations and the newly acquired military simulation business, aiming for efficient resource allocation [3][4] - A new facility for the military simulation segment has been established, facilitating collaborative R&D efforts in various technical areas [3] Future Focus - The company plans to enhance its elevator control systems by developing new products and exploring IoT-based intelligent monitoring solutions - The military simulation segment aims to upgrade its product platform by incorporating large language models to improve performance and usability [5]

Group 1 - The company has formed a dual business structure focusing on "elevator control system-related products and military simulation system products" following the completion of the acquisition of Lingwei Junrong [1] - In 2024, the company achieved operating revenue of 469 million yuan, a decrease of 6.80% compared to the previous year, primarily due to a downturn in the real estate market affecting the elevator and elevator parts industry [1] - The company anticipates challenges in the elevator parts sector due to insufficient demand, overcapacity, and intensified competition, which have negatively impacted revenue and profits [1] Group 2 - The military simulation market is projected to grow significantly, with the global market expected to reach 121.6 billion dollars by 2027, and China's military simulation software market anticipated to exceed 20 billion yuan [2] - The company's products are primarily used in tactical training for aviation troops and aviation equipment support, with ongoing integration efforts between the company and Lingwei Junrong to leverage resource advantages [2] - A new 1,700 square meter facility for Lingwei Junrong has been established, focusing on collaborative R&D in areas such as cockpit data collection systems and load control systems [2] Group 3 - The collaboration between the company and Lingwei Junrong enhances hardware product competitiveness through the integration of the company's electromechanical product capabilities and Lingwei Junrong's advanced software simulation technology [3] - This partnership is expected to drive advancements in the military simulation industry and create greater market value and competitive advantages for the company in the future [3]

Group 1 - The company held its 2024 online performance briefing on May 19, 2025, to discuss operational performance and future plans with investors [1][2] - In 2024, the company achieved revenue of 469,138,106.22 yuan, a decrease of 6.80% compared to the previous year, primarily due to challenges in the real estate market affecting the elevator and elevator parts industry [1] - The company has established a dual business model focusing on "elevator control system products and military simulation system products" following the acquisition of Lingwei Military Simulation [1][2] Group 2 - The profit distribution plan for 2024 includes a cash dividend of 0.30 yuan per 10 shares, totaling 8,759,713.20 yuan, to be distributed within two months after the meeting [1] - The company is optimistic about fulfilling its performance commitments for 2025 and is actively working on integrating resources with Lingwei Military Simulation [1][2] - Future development will focus on enhancing the elevator control system product line and exploring IoT-based remote monitoring in the elevator sector, as well as upgrading military simulation products using large language models [2]