Core Viewpoint - Del Corporation has experienced significant fluctuations in its market performance since its listing in June 2015, with a current market value of 4.725 billion yuan, reflecting a recovery in its operational performance in recent years [1][3]. Business Overview - The main business of Del Corporation includes the research, production, and sales of automotive steering pumps and gear pumps, with the highest revenue contribution coming from noise reduction, thermal insulation, and lightweight products, accounting for 70.83% of total revenue, followed by motor, electric pump, and mechanical pump products at 26.84% [3]. Financial Performance - In 2015, the year of its listing, Del Corporation achieved a net profit attributable to shareholders of 138 million yuan, while the latest complete fiscal year of 2024 shows a net profit of 32 million yuan, indicating a cumulative profit decline of 76.54% over the decade [3]. - The company has recorded two years of losses since its listing, with profit growth years reaching six, representing 60.0% of the time [3]. - Revenue has shown steady growth, increasing from 3.386 billion yuan in 2020 to 4.513 billion yuan in 2024, while the net profit improved from a loss of 423 million yuan in 2020 to a profit of 32 million yuan in 2024, indicating a gradual recovery in profitability [4]. Market Capitalization - Since its listing, Del Corporation's market value has increased by 0.14 times, peaking at 10.68 billion yuan on December 1, 2015, with a corresponding stock price of 106.8 yuan. As of June 11, the stock price is 31.3 yuan, with a market value of 4.725 billion yuan, representing a decrease of 5.955 billion yuan from its peak, or a 55.75% market value evaporation [6].

2025年4月，阜新德尔汽车部件股份有限公司（以下简称"德尔股份"）发布2024年年度报告。报告期 内，公司在营收、利润、现金流等方面呈现出不同程度的变化。其中，扣非净利润同比增长 1553.76%，而筹资活动产生的现金流量净额同比下降196.69%，这两项数据变化幅度较大，值得投资者 重点关注。 营业收入：稳中有升，业务结构有变化 2024年，德尔股份实现营业收入4,513,484,787.40元，较2023年的4,299,433,799.79元增长4.98%。从业务 板块来看，降噪（NVH）、隔热及轻量化产品的营业收入为3,197,081,661.04元，较去年同期增长 9.78%；电机、电泵及机械泵类产品营业收入为1,211,224,089.54元，同比下降4.16%；电控及汽车电子 类产品营业收入为68,474,087.58元，同比下降12.54%。虽然整体营收有所增长，但部分业务板块出现下 滑，公司需关注业务结构调整，以保持增长动力。 净利润：大幅增长，盈利能力提升 归属于上市公司股东的净利润为32,427,524.33元，相较于2023年的12,881,659.17元，增长了151.73%。 扣除 ...