公司代码：603586 公司简称：金麒麟 山东金麒麟股份有限公司 山东金麒麟股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人孙鹏、主管会计工作负责人张建勇及会计机构负责人（会计主管人员）张建勇声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，请投 资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细描述可能存在的风险，敬请查阅第三节管理层讨论与分析五、（一） 可能面对的 ...

● 生产经营风险。公司主要产品为汽车刹车片、汽车刹车盘、轨道交通制动片及工业制动产品，2024年 度，公司实现营业收入17.39亿元，比去年同期增加8.46%；实现归属上市公司股东的净利润9,217.01万 元，比去年同期减少30.81%。2025年第一季度，公司实现营业收入5.20亿元，比去年同期增加38.60%； 实现归属上市公司股东的净利润7,506.44万元，比去年同期增加332.77%。敬请广大投资者注意经营风 险。 一、股价累计涨幅较大风险 登录新浪财经APP 搜索【信披】查看更多考评等级 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个别及连带责任。 重要内容提示： ● 股价累计涨幅较大风险。山东金麒麟股份有限公司（以下简称"公司"）股票自2025年4月28日以来， 累计涨幅达36.89%，同期申万汽车零部件指数累计涨幅7.21%，同期上证指数累计涨幅0.64%，公司股 票短期涨幅高于同期行业涨幅及上证指数，存在市场情绪过热的情形，但公司生产经营活动一切正常， 不存在应披露而未披露的重大信息。敬请广大投资者注意投资风险。 ...

Group 1: Financial Performance and Concerns - The company reported revenue of over 35 billion, with a profit of less than 2 billion, raising suspicions of potential financial misconduct [2] - The operating cash flow has frequently been negative, leading to concerns about the company's ability to sustain operations in the long term [2] - The net profit for Wuhu Tianniao in 2024 is projected to be -28.94 million, indicating challenges in profitability despite future potential [3] Group 2: Risk Management and Operational Strategies - The company emphasizes risk management strategies to mitigate the impact of copper price fluctuations, focusing on inventory management and operational stability [2][5] - The average receivable period for basic materials is around 15 days, ensuring that cash flow issues from sales are unlikely [2] - The company is actively working on product upgrades and technological advancements to maintain market competitiveness and long-term growth [2][3] Group 3: Research and Development Investments - The company invests over 1.1 billion annually in R&D, focusing on product technology upgrades and new product development [2][3] - Despite high R&D expenditures, there are concerns about the low profit margins and overall financial returns from these investments [7] - The company aims to enhance product value and profitability as new projects come online [7] Group 4: Market and Competitive Landscape - The company is positioned in the high-end carbon fiber composite materials market, with ongoing collaborations with major automotive manufacturers [3][7] - The competitive edge lies in the company's technological capabilities and market positioning in the carbon ceramic brake disc sector [7] - The company is exploring new applications in AI and data transmission, indicating a focus on emerging market demands [8] Group 5: Government Support and Subsidies - Government subsidies received in 2024 have slightly increased compared to 2023, primarily from resource utilization and fixed asset investments [4] - The company is monitoring the impact of changes in subsidy structures on its financial performance [4] Group 6: Future Outlook and Strategic Initiatives - The company is optimistic about recovering from recent performance dips, particularly in the photovoltaic sector, with signs of order recovery [4] - The listing progress of subsidiary Dingli Technology on the Beijing Stock Exchange is ongoing, with successful acceptance of the application [6][9] - The company is committed to maintaining transparency and communication with investors regarding future developments and financial disclosures [9]