北京煜邦电力技术股份有限公司 相关债券 2025 年跟踪评级报告 中鹏信评【2025】跟踪第【391】号 01 信用评级报告声明 除因本次评级事项本评级机构与评级对象构成委托关系外，本评级机构及评级从业人员与评级对象不存 在任何足以影响评级行为独立、客观、公正的关联关系。 本评级机构与评级从业人员已履行尽职调查义务，有充分理由保证所出具的评级报告遵循了真实、客 观、 公正原则，但不对评级对象及其相关方提供或已正式对外公布信息的合法性、真实性、准确性和完整性 作任何保证。 本评级机构依据内部信用评级标准和工作程序对评级结果作出独立判断，不受任何组织或个人的影响。 本评级报告观点仅为本评级机构对评级对象信用状况的个体意见，不作为购买、出售、持有任何证券的 建议。本评级机构不对任何机构或个人因使用本评级报告及评级结果而导致的任何损失负责。 本次评级结果自本评级报告所注明日期起生效，有效期为被评证券的存续期。同时，本评级机构已对受 评对象的跟踪评级事项做出了明确安排，并有权在被评证券存续期间变更信用评级。本评级机构提醒报 告使用者应及时登陆本公司网站关注被评证券信用评级的变化情况。 本评级报告版权归本评级机构所有，未 ...

Core Viewpoint - The report outlines the continuous supervision and compliance of Beijing Yubang Electric Technology Co., Ltd. by the sponsor, Industrial Securities Co., Ltd., during its initial public offering and bond issuance on the Sci-Tech Innovation Board, emphasizing the company's adherence to regulations and internal controls [1][2][3]. Continuous Supervision Work - The sponsor has established and effectively implemented a continuous supervision system, along with a corresponding work plan [1]. - A continuous supervision agreement has been signed, clarifying the rights and obligations of both parties during the supervision period [2]. Compliance and Internal Control - The internal control systems of Yubang Electric are in compliance with relevant regulations and have been effectively executed, ensuring the company's standardized operation [4]. - The sponsor has verified the design, implementation, and effectiveness of the internal control systems, including financial management and auditing [4]. Information Disclosure - The sponsor has ensured that the information disclosure documents submitted by Yubang Electric do not contain false records or misleading statements [5]. - Any issues found in the information disclosure documents are promptly addressed, and if the company fails to correct them, the sponsor reports to the Shanghai Stock Exchange [5]. Financial Performance - In 2024, Yubang Electric reported a revenue of 940.14 million yuan, a 67.35% increase from 561.79 million yuan in 2023 [12]. - The net profit attributable to shareholders reached 111.32 million yuan, reflecting a 195.77% increase from 37.64 million yuan in the previous year [12]. - The net cash flow from operating activities was 141.17 million yuan, up 36.81% from 103.19 million yuan [12]. Core Competitiveness - Yubang Electric is recognized as a national high-tech enterprise, with a strong focus on technology research and development, holding 385 intellectual property rights, including 154 patents [15][21]. - The company has established a robust quality management system and adheres to strict quality control procedures throughout its operations [18]. Industry Risks - The company faces risks related to core competitiveness, operational challenges, and financial stability, particularly due to the competitive landscape and reliance on major clients like State Grid and Southern Power Grid [7][8][10]. - The macroeconomic environment and industry investment trends could significantly impact the company's performance and procurement demand [10][11]. Use of Raised Funds - Yubang Electric successfully raised 410.81 million yuan through the issuance of convertible bonds, with a net amount of 403.65 million yuan after deducting issuance costs [21][23]. - The company has complied with regulations regarding the use of raised funds, ensuring proper storage and usage [24].