编号：2025-01 | 投资者关系 | 特定对象调研 分析师会议 □媒体采访 | | --- | --- | | 活动类别 | ■业绩说明会 □路演活动 新闻发布会 | | | 现场参观 其他 | | 参与单位 （排名不分先后） | 线上参与 2024 年度网上业绩说明会的社会公众投资者 | | 时 间 2025 | 年 5 月 7 日 15:00-17:00 | | 地 点 | 价值在线（www.ir-online.cn）（网络文字互动方式） | | 上市公司接待 | 董事长、总经理：张锡亮 | | 人员姓名 | 副总经理、董事会秘书兼财务总监：张一峰 独立董事：陈贇 | | | 1.请问：（1）去年业绩较同期变化不大，今年一季度出现亏损，原 | | | 因何在？（2）可转债最后一年多，是否有信心实现全部转股？（3）国外 | | | 业务占比超四成，贸易战有何影响？如何应对？顺便介绍一下对美业务 | | | 情况？ | | | 答:您好！今年第一季度出现亏损的原因在于模具业务因海外客户相 | | | 关项目的延期而导致第一季度交付的较少，进而影响到了当期业绩。模具 | | 投资者关系活动主 | ...

Financial Performance - The company achieved a net profit of 27,923.92 million yuan for the year 2024, with a weighted average return on equity of 5.77% [4] - Basic and diluted earnings per share were both 0.678 yuan per share, with total comprehensive income amounting to 33,417.27 million yuan [4] Inventory and Impairment - The company recorded significant inventory impairment, particularly in dispatched goods, due to increased long inventory age and the complexity of delivery acceptance procedures in the equipment manufacturing industry [2][3] - The impairment provision for inventory was calculated based on the higher of estimated selling price and age-based provisions, reflecting a cautious approach [2] Market Demand and Orders - In the first quarter, the company's revenue increased by 6.03% year-on-year, indicating a gradual recovery in order volume as overall industry demand improves [5] - The company anticipates a rebound in production output following a recovery in market demand [3] Research and Development - R&D expenditure decreased by 14.32% compared to the previous year due to external uncertainties, but the company plans to increase R&D investment in 2025 to enhance product competitiveness [7][9] - The company is focusing on upgrading tantalum capacitor series products and expanding its capabilities in microcircuit modules and semiconductor industries [9][11] Business Strategy and Growth - The company aims to leverage its technological expertise and industry chain integration to enhance its market competitiveness and expand its product offerings [6][10] - Module products now account for over 20% of total revenue, reflecting a strategic shift towards diversified product lines [6] Future Outlook - The high-reliability electronics industry is expected to see a recovery in demand as part of the "14th Five-Year Plan," with the company positioning itself to capitalize on this trend [10] - The company emphasizes the importance of sustainable development and effective communication with investors to enhance long-term value [10][11]

Group 1: Financial Performance - The company's Q1 2025 revenue was 24,158.93 million CNY, a decrease of 16.04% compared to 20,283.21 million CNY in the previous year [2] - The net profit attributable to shareholders for Q1 2025 was 4,180.08 million CNY, down 35.48% from 6,478.89 million CNY in the previous year [2] - The gross margin for Q1 2025 was 32.22%, showing a decline from 36.79% in Q1 2024 and 32.5% in Q4 2024, indicating a relatively stable performance despite the decrease [3] Group 2: Business Segments and Growth Potential - The traditional cleaning business remains under pressure, with no significant recovery observed in Q1 2025 [2] - The company is focusing on expanding its cleaning system business, particularly in overseas markets, which present significant growth opportunities [4] - The ADAS active perception cleaning system is expected to provide substantial market value growth compared to traditional cleaning systems [4] Group 3: Robotics and Motor Products - The company is actively engaging with overseas clients in the humanoid robot sector and plans to accelerate domestic customer expansion [5] - The development of seat motors, including adjustment and massage functions, is progressing well, driven by consumer demand for comfort and quality [6] - The tailgate motor segment has seen rapid growth, with revenue primarily driven by increased penetration among major clients and the acquisition of new customers [6] Group 4: Future Development Plans - The company aims to deepen its focus on vehicle motors and cleaning systems, with plans to expand into new motor categories and fluid products [6] - There is a strategic emphasis on developing high-torque brushless motors and various electric motors for automotive applications, laying a solid technical foundation for future growth [6]

Group 1: Impact of External Factors - The geopolitical factors, such as the Biosecurity Act, influence clients' strategies, leading them to seek multiple suppliers to manage supply chain risks [1] - Current tariff policies have limited impact on the company, as less than 5% of its revenue comes from direct exports to the U.S., and products fall within the tariff exemption range [2] Group 2: Financial Performance - The company's overall gross margin fluctuates mainly due to domestic market conditions and losses in new business, while overseas market and core business margins remain stable [3] - In Q1 2025, the new molecular business generated approximately CNY 14.19 million in revenue, reflecting a year-on-year growth of about 353% [7] Group 3: Production Capacity and Orders - The company has expanded its production and R&D capabilities through acquisitions and the establishment of new centers, including factories in Hubei and Shanghai [4] - The order conversion cycle typically ranges from 6 to 18 months, with some orders taking 2 to 3 years to convert into revenue [6] Group 4: Future Investments - The capital expenditure for 2025 will focus on overseas expansion, new molecular technology development, and upgrading existing small molecule production capacity [8]

证券代码：300617 证券简称：安靠智电 江苏安靠智电股份有限公司 2024 年度业绩说明会投资者活动记录表 编号：2025-001 投资者关系 活动类别 □特定对象调研 □分析师会议 □媒体采访 ☑业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他： （请文字说明其他活动内容） 参与单位名称 及人员姓名 安靠智电2024年度业绩说明会采用网络互动方式进行，面向全体投 资者。 时间 2025 年 5 月 6 日 15:00-17:00 地点 价值在线（www.ir-online.cn）网络互动 公司接待人员 姓名 董事长兼总经理：陈晓凌先生 财务总监：蒋浩先生 董事会秘书：贾云先生 独立董事：刘鹏先生 投资者关系活 动主要内容 介绍 一、从分季度财务指标来看，第四季度营业收入和净利润占比较高， 这是季节性因素导致的还是有其他特殊原因？ 答:尊敬的投资者您好，感谢您的关注！公司第四季度营业收入和净 利润占比较高，主要原因是公司主要产品销售和相关系统服务业务 呈现一定的季节性，国家电网、南方电网及五大发电集团等主要客 户一般在年初进行采购和招标，公司在第四季度确认相关收入较 多。 二、您好，公司未来研发投 ...

Group 1: Company Projects and Developments - The company has several upcoming construction projects, including the Silverman Phase II and Yubang mining projects, with the Silverman Phase II already having 50% of its underground engineering completed by the end of 2024 [5][7]. - The Atlantic Tin project is expected to start production in Q4 2027, with an estimated annual output of around 6,000 tons of tin metal [5][6]. - The Yubang mining project is currently seeking construction permits from the National Emergency Management Department [5]. Group 2: Financial Strategies and Performance - The company plans to issue $300 million in overseas bonds to support the Moroccan project and optimize its financing structure [5][6]. - In 2024, the company’s subsidiary, Qianjinda Mining, achieved a net profit of approximately 245 million RMB, a 39.16% increase year-on-year [8]. - The increase in contract liabilities in Q1 2025 is primarily due to an increase in advance payments received [11]. Group 3: Resource Management and Exploration - The Atlantic Tin project has an average ore grade of 0.55% with a recovery rate of 70%, and the planned annual ore processing capacity is 150,000 tons [6][9]. - The company is actively exploring the Silverman and Yubang mining areas, with significant potential for resource expansion identified [9][10]. - The company has four mining licenses covering 140 square kilometers in Morocco, with promising geological conditions for further exploration [6][9]. Group 4: Safety and Operational Management - The company emphasizes safety management, implementing strict risk control measures and training programs to enhance operational safety [10]. - A comprehensive safety responsibility system has been established to ensure the safety of employees and the sustainable development of the company [10]. Group 5: Stakeholder Engagement - The company held an investor relations event on May 5, 2025, to discuss its annual and quarterly performance with various investment institutions [5][11]. - Key executives, including the President and CFO, participated in the event to address investor inquiries regarding project developments and financial strategies [5].

Group 1: Financial Performance - The company's revenue fluctuated significantly in Q1 2025 compared to Q3 2024, primarily due to changes in product structure and a decrease in non-operating income [15][21]. - The company has distributed cash dividends 14 times, totaling approximately 51.7 million CNY, and proposed a cash dividend of 0.75 CNY per share for 2025 [5][21]. - In Q1 2025, the company generated several million CNY in revenue from wafer carriers, indicating a stable order situation [7][12]. Group 2: Market and Stock Performance - The stock price has dropped from 23.4 CNY to 13.24 CNY, prompting concerns about market value management [5][21]. - The company is actively monitoring market dynamics and is considering measures to stabilize stock value, including potential share buybacks [5][32]. - The decline in stock price is attributed to macroeconomic factors and market sentiment, rather than internal mismanagement [27][32]. Group 3: Product Development and Orders - The company has stable orders in the medical consumables sector, with ongoing efforts to expand its customer base [3][4]. - In the semiconductor consumables sector, a product has passed certification and is currently being delivered monthly, although its contribution to revenue is still limited [11][12]. - The company is working on seven wafer carrier products, with some entering the small batch and verification phase at major domestic wafer manufacturers [6][10]. Group 4: Strategic Initiatives and Future Outlook - The company is focusing on enhancing its operational capabilities and expanding its business to improve profitability [15][21]. - There are plans to optimize internal order forecasting and expedite the construction of a new manufacturing facility to ensure stable production [21][35]. - The company aims to leverage new customer orders and product developments in the medical and semiconductor sectors to drive future growth [21][36].

Financial Performance - In 2024, the company's operating profit reached 690 million CNY, a year-on-year increase of 39.23% [2] - The net profit attributable to shareholders was 677 million CNY, up 45.84% year-on-year [2] - The net profit after deducting non-recurring gains and losses was 561 million CNY, reflecting a growth of 46.19% [2] Sales Overview - Total vehicle sales in 2024 amounted to 479,900 units, representing a year-on-year growth of 13.43% [3] - Sales of fuel motorcycles were approximately 445,400 units, with a year-on-year increase of 13.5% [3] - Large-displacement motorcycles (over 250cc) sold around 182,000 units, up 32.25% year-on-year; small-displacement motorcycles (≤250cc) sold about 263,400 units, growing by 4.65% [3] Market Position - In the domestic market, fuel motorcycle sales totaled 211,800 units, remaining stable year-on-year; large-displacement motorcycle sales were 116,600 units, increasing by 34.44% [3] - Export sales of fuel motorcycles reached 233,600 units, a year-on-year growth of 22.36%, with large-displacement motorcycle exports at 65,400 units, up 28.52% [3] - The company ranked 6th in the domestic market with a market share of approximately 4.6% and ranked 1st in the large-displacement segment with a market share of about 21.9% [3] Industry Insights - The motorcycle industry is experiencing accelerated differentiation, with the top ten companies in the domestic fuel motorcycle market accounting for 66.68% of total sales [3] - The top ten companies in the large-displacement market hold a significant 90.97% market share, indicating a high concentration of resources [3] - In the export market, the top ten companies account for 61.14% of total exports in the fuel motorcycle segment, with the company ranking 15th in export volume but 5th in export value due to optimized product structure [4] Future Outlook - The motorcycle industry is expected to maintain a positive growth trajectory, with production and sales showing slight increases in 2024 [4] - The demand for large-displacement leisure motorcycles is anticipated to grow significantly, while the electric motorcycle segment is experiencing a decline [4] - The industry is shifting towards high-quality development, with ongoing upgrades and innovations reflecting strong resilience and potential for growth [4]

Group 1: Financial Performance and Challenges - The company experienced a slight revenue increase in 2024, achieving 2.326 billion CNY, a 35.16% rise year-on-year, but faced significant losses in Q1 2025 due to underutilization of production capacity and increased financial costs [1][5]. - The company's external sales accounted for 55% of total revenue, with the U.S. market being a major contributor; however, trade policies and tariffs have created uncertainties affecting order volumes [2][5]. - The proposal to adjust the conversion price of convertible bonds was triggered by the stock price remaining below 85% of the conversion price, aimed at alleviating financial pressure and enhancing bond attractiveness [2][5]. Group 2: Business Strategy and Future Outlook - The company focuses on green transformation, global expansion, and technological innovation as key growth strategies, with production bases in Thailand and the U.S. to enhance supply chain stability [5][6]. - Future revenue growth is expected from increasing market share among existing high-quality domestic clients, expanding product categories, and enhancing brand recognition through partnerships with leading customers [6][7]. - The industry outlook remains positive, with growing demand for biodegradable products and a shift towards sustainable practices, driven by consumer awareness and regulatory support [6][7]. Group 3: Operational Risks and Market Position - Key operational risks identified include trade policy risks, raw material price fluctuations, exchange rate risks, and intense market competition [4][5]. - The company has established a global production network with smart manufacturing bases in various regions, enhancing its competitive edge and capacity to meet diverse market demands [7].

Group 1: Business Performance and Revenue - The company achieved a total operating revenue of 111,739.87 million CNY in 2024, with an operating profit of 3,115.49 million CNY [3] - In Q1 2025, the total operating revenue decreased, with expectations for growth in Q2 and the full year based on existing competitive advantages [3][4] - Revenue from metal-faced energy-saving insulation panels decreased by 3.56%, while revenue from cold storage doors and industrial building doors increased by 2.73% [4] Group 2: Business Strategy and Market Expansion - The company plans to enhance the insulation and energy-saving performance of cold storage and industrial building doors to meet customer demands for energy efficiency [2] - Future business expansion will focus on the ice and snow economy, with participation in projects like ski resorts in Changchun and Suzhou [3] - The company aims to expand its overseas business and optimize its business structure based on market demand [3] Group 3: Research and Development - As of 2024, the company has initiated 19 independent R&D projects, focusing on key technologies and innovative products [3] - The R&D direction emphasizes new products, new processes, and new materials to enhance market competitiveness [3] Group 4: Social Responsibility and Employee Welfare - The company has implemented initiatives such as the "Jingxue Coffee House" for employee relaxation and organized community blood donation activities [3] - Future plans include continued contributions to employee welfare and public welfare activities [3] Group 5: Investor Relations and Market Management - The company is committed to providing reasonable returns to investors and will flexibly use various tools to manage market value [4] - The management is aware of the factors affecting stock prices and emphasizes the importance of rational investment [4]