5月7日，截至港股收盘，恒生指数上涨0.13%，报22691.88点。新吉奥房车（00805.HK）收报1.57港元/ 股，上涨22.66%，成交量385.6万股，成交额519.87万港元，振幅21.09%。 最近一个月来，新吉奥房车累计跌幅4.48%，今年来累计涨幅30.61%，跑赢恒生指数12.97%的涨幅。 财务数据显示，截至2024年12月31日，新吉奥房车实现营业总收入8.64亿元，同比增长19.97%；归母净 利润4333.1万元，同比减少45.82%；毛利率31.07%，资产负债率92.99%。 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，汽车行业市盈率（TTM）平均值为16.83倍，行业中值8.33倍。新吉奥房车市盈率26.26 倍，行业排名第25位；其他中国汽车内饰（00048.HK）为0.86倍、浦林成山（01809.HK）为3.55倍、 BRILLIANCE CHI（01114.HK）为4.26倍、新晨动力（01148.HK）为5.13倍、信邦控股（01571.HK）为 5.44倍。 资料显示，新吉奥房车有限公司,坐落于中国浙江省桐乡经济开发区,是中国领先的出口型房 ...

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 864,165,000, representing a 20% increase from RMB 720,303,000 in 2023[12] - Gross profit for 2024 was RMB 268,516,000, up 48% from RMB 181,051,000 in 2023[12] - Profit attributable to equity shareholders for 2024 was RMB 43,331,000, a decrease of 46% compared to RMB 79,973,000 in 2023[12] - Total assets as of December 31, 2024, increased to RMB 559,871,000 from RMB 398,798,000 in 2023, marking a 40% growth[12] - Total liabilities as of December 31, 2024, were RMB 520,618,000, up from RMB 371,612,000 in 2023[12] - Total revenue for 2024 was RMB 864.2 million, representing a 20.0% increase from RMB 720.3 million in 2023[67] - Revenue from RV sales was RMB 799.2 million in 2024, a 12.5% increase from RMB 710.7 million in 2023, driven by higher sales volume and average selling price[68] - The company achieved a positive gross profit in 2024, attributed to increased revenue from direct sales and improved gross margin expected from enhanced cost control[42] - Selling and distribution expenses rose to RMB 84.0 million in 2024, a 102.4% increase from RMB 41.5 million in 2023, due to increased marketing campaigns and a higher number of sales personnel[79] - Administrative expenses increased by 120.7% to RMB 79.9 million in 2024 from RMB 36.2 million in 2023, driven by a rise in administrative personnel and listing expenses[80] - Research and development expenses grew by 71.3% to RMB 13.7 million in 2024 from RMB 8.0 million in 2023, reflecting an increase in R&D personnel[81] - Finance costs surged by 439.1% to RMB 12.4 million in 2024 from RMB 2.3 million in 2023, primarily due to increased interest expenses on borrowings[89] - Income tax decreased by 44.6% to RMB 16.0 million in 2024 from RMB 28.9 million in 2023, in line with decreased profit[90] - Profit for the year fell by RMB 33.3 million to RMB 45.5 million in 2024 from RMB 78.8 million in 2023[91] - Adjusted net profit is used as a non-HKFRS measure to facilitate comparisons of operating performance, defined as net profit adjusted by adding back listing expenses[119] - For the year ended December 31, 2024, the net profit was RMB 45,489,000, a decrease of 42.2% compared to RMB 78,768,000 in 2023[123] - The adjusted net profit for the same period was RMB 72,933,000, which is a decrease of 7.2% from RMB 78,768,000 in 2023[123] Revenue and Sales - The increase in revenue was primarily driven by a rise in RV sales volume and an increase in average selling price, particularly from direct sales through self-owned and JV stores[25] - Deliveries of RVs in 2024 totaled 2,804 units, representing a 4.1% increase from 2,694 units in 2023[28] - Revenue from sales of pre-owned RVs surged by 546.0% in 2024 compared to 2023, following the introduction of a buyback program for eligible pre-owned RVs[26] - Direct sales of RVs increased from 394 units in 2023 to 1,064 units in 2024, with revenue from these sales growing from RMB 129.1 million to RMB 343.9 million[69] - Revenue from sales to dealers decreased from RMB 581.6 million in 2023 to RMB 455.3 million in 2024, with sales volume dropping from 2,300 units to 1,740 units[69] - Revenue from pre-owned RV sales was RMB 56.1 million in 2024, up from RMB 8.7 million in 2023, reflecting a significant increase of RMB 47.4 million[70] Product Development and Innovation - The company upgraded 5 models under the Regent brand and launched 13 new models in 2024[15] - A total of 4 new models were developed and launched under the NEWGEN brand, along with 8 upgraded models[15] - The company aims to create a sustainable path for RV electrification and is developing a new model of towable electric recreational vehicle (ERV)[15] - The company is developing a pioneering model of electric RVs as part of its commitment to sustainability and environmental responsibility[17] - The SRH-Hybrid 2025 model was launched in February 2025, expanding the hybrid towable RV lineup with advanced technology and luxury features[34] Market and Brand Strategy - The company operates three distinct brands: Snowy River, Regent, and NEWGEN, catering to various RV owner needs[14] - The company emphasizes customization in its RV offerings, allowing owners to personalize various aspects of their vehicles[14] - The company emphasizes customization in RV design and manufacturing, enhancing the owner experience from concept to delivery[16] - Future plans include expanding into European and Canadian markets, maintaining brand image, and upgrading production facilities[47] - The company is expanding into European and Canadian markets while preparing for North American supply chain deployment[62] Operational and Structural Insights - The manufacturing facilities in Zhejiang, China, cover approximately 47,567 square meters and include five specialized workshops and two advanced assembly lines[19] - The sales and distribution network consists of 13 third-party dealer stores, two self-owned stores, and four JV stores across major cities in Australasia as of December 31, 2024[20] - The backlog for Snowy River increased from 1,240 units in 2023, while Regent's backlog decreased from 72 units, and NEWGEN's backlog decreased from 144 units[32] - As of December 31, 2024, net current liabilities were RMB 6.0 million, with trade and other payables increasing to RMB 314.8 million[92] - As of December 31, 2024, total loans and borrowings amounted to RMB 89.4 million, an increase from RMB 31.6 million as of December 31, 2023[98] - The secured loans and borrowings from the Financing Partner to subsidiaries were RMB 64.2 million, while short-term unsecured bank loans were RMB 19.3 million and secured short-term bank loans were RMB 5.5 million[104] - The Group's gearing ratio was positive as of December 31, 2024, indicating a healthy capital structure[99] - Restricted cash as of December 31, 2024, totaled RMB 103.1 million, primarily for leasing deposits and guarantees for loans[101] - Capital expenditures for 2024 were RMB 8.0 million, mainly for the purchase of plant and equipment[109] Governance and Compliance - The Group did not have any material acquisitions or disposals of subsidiaries, associates, and joint ventures for the year ended December 31, 2024[113] - The Group has no specific plans for material investments or capital asset acquisitions as of December 31, 2024[102] - The Company has established a Remuneration Committee to formulate remuneration policies in compliance with the Corporate Governance Code[186] - The total remuneration paid to the Directors for the year ended December 31, 2024, was approximately RMB 4.8 million[195] - The total remuneration paid to the five highest-paid individuals for the year ended December 31, 2024, was RMB 6.5 million[195] - No remuneration was paid to the Directors or the five highest-paid individuals as inducement to join or as compensation for loss of office during the Reporting Period[196] - Each executive Director has entered into a service contract with the Company for an initial term of three years commencing from the Listing Date[197] - Independent non-executive Directors have entered into letters of appointment for an initial term of three years commencing from the Listing Date[198] - The Company offers compensation to executive Directors and senior management in the form of salaries, bonuses, social security plans, and other benefits[200] - The Remuneration Committee considers factors such as salaries paid by comparable companies and performance-based remuneration when determining specific remuneration packages[199] - The Company reimburses Directors and senior management for necessary and reasonable expenses incurred while providing services[199] - No Directors waived or agreed to waive any remuneration during the Reporting Period[196] Risks and Challenges - The business is subject to risks associated with third-party authorized dealers, which could negatively impact operations if there are losses or consolidations[139] - Supply chain risks are present, where delays or quality issues could materially affect the business and financial condition[141] - The Company has not entered into any significant contracts with controlling shareholders during the year ended December 31, 2024[142] - The Company maintained sufficient public float percentage required under the Listing Rules as of the date of the annual report[156] - There were no material legal proceedings against the Company during the Reporting Period that could adversely affect its business[181] - The Company made a donation of HKD 3.0 million to the HKEX Foundation Limited during the Reporting Period[183]

（原标题："300805"午后直线拉升涨停！Open AI突然放大招） 一系列AI智能体技术正在蓬勃发展，应用场景持续拓展。 大模型2.0产业报告发布 近日，由国家工业信息安全发展研究中心标准化所、全国两化融合标委会（TC573）、《数字化转型》期刊和联想集团等机构联合编纂与发布的 《大模型2.0产业发展报告》（以下简称《报告》）正式发布。 《报告》指出，智能体是当前大模型应用与落地的重要方式。不过，由于大模型改变了企业应用架构，企业的应用需要重构。联想中国方案服务 业务群"擎天"AI技术中心高级总监顾旭光表示，大模型出现之前的应用架构是每个AI模型只能完成特定任务，业务应用系统按需调用AI模型。大 模型出现之后，大模型是企业的大脑，智能体基于大模型自动理解意图，计划分解，调用企业内部系统，能够完成多种任务。 面对大模型应用带来的红利与价值，越来越多的企业开始加速部署大模型并构建智能体。中国软件行业协会CIO分会秘书长李圆表示，企业正通 过智能体重构业务模式，《2024年中国CIO&CDO研究报告》的数据显示，58.9%的企业将选择与服务商一起共建AI解决方案，加速创新。 AI智能体应用加速落地 AI智能体（ ...

2024年，新吉奥房车交出了一份营收增速亮眼但盈利承压的业绩答卷。财报数据显示，公司全年实现总营收人民 币8.64亿元，较2023年的7.20亿元增长20.0%。这一增长的核心动力来自房车销售收入的显著提升，其中自营店及 合营店直销模式贡献了关键增量。具体而言，自营店及合营店直销的收入增加2.148亿元，推动房车销售总收入达 到7.99亿元，同比增长12.5%。 | | | 2024年 | 2023年 | | --- | --- | --- | --- | | | 附註 | 人民幣千元 | 人民幣千元 | | 收入 | 3 | 864,165 | 720,303 | | 銷售成本 | | (595,649) | (539,252) | | 毛利 | | 268,516 | 181,051 | | 其他(虧損)／收入 | | (15,385) | 14.517 | | 銷售及經銷開支 | | (83,976) | (41,547) | | 何蚁開叉 | | (79,857) | (36,209) | | 研發開支 | | (13,713) | (7.968) | | 貿易應收款項減值虧損(撥備)／發回 | | ...

尽管全球贸易环境波动，但新吉奥房车(0805.HK)交出了一份亮眼的2024年成绩单。财报显示，公司全 年营收达8.642亿元(人民币)，同比增长20%，毛利率提升至31.1%，调整后净利润同比增长36%(剔除上 市费用及汇兑损失)。值得关注的是，其核心市场澳大拉西亚地区表现强劲，而近期热议的"美国对等关 税政策"对公司业务并无直接影响。 澳大拉西亚市场主导，美国关税政策并无影响 针对近期特朗普提议加征关税可能引发的贸易风险，新吉奥房车回应称，公司目前业务集中于澳大拉西 亚地区(澳大利亚、新西兰及周边)，与美国市场无直接关联，因此相关政策短期内不会对业绩造成冲 击。财报显示，澳新地区房车需求持续旺盛，叠加当地消费者对环保、休闲旅游的偏好，为公司提供了 稳定的增长基础。 在行业分析机构看来，当前，全球房车市场正迎来新一轮发展机遇。随着消费者对户外生活方式需求的 增加以及旅游市场的逐步复苏，房车行业有望持续保持增长态势。而新吉奥房车凭借其在澳大拉西亚市 场的领先地位、丰富的产品线以及强大的品牌影响力，无疑将在这一波行业浪潮中占据先机。 在不确定性加剧的国际贸易环境中，新吉奥房车凭借清晰的区域聚焦和产品竞争力，实现 ...

Financial Performance - For the fiscal year ending December 31, 2024, revenue reached RMB 864.2 million, a 20.0% increase from RMB 720.3 million for the fiscal year ending December 31, 2023, primarily driven by an increase in revenue from RV sales[4] - Gross profit increased from RMB 181.1 million to RMB 268.5 million, representing a growth of 48.3%, attributed to higher direct sales through self-operated and joint venture stores[4] - Gross margin improved from 25.1% to 31.1%, an increase of 6 percentage points, due to a higher proportion of direct sales compared to wholesale sales[7] - Revenue for the year ended December 31, 2024, increased to RMB 864,165 thousand, up 20% from RMB 720,303 thousand in 2023[21] - Gross profit for 2024 was RMB 268.5 million, a 48.3% increase from RMB 181.1 million in 2023, with a gross margin rising from 25.1% to 31.1%[44] - Operating profit decreased to RMB 73,873 thousand, down 33% from RMB 109,991 thousand in 2023[21] - Net profit for the year was RMB 45,489 thousand, a decline of 42% from RMB 78,768 thousand in 2023[22] - Basic and diluted earnings per share decreased to RMB 0.06 from RMB 0.11 in the previous year[21] - The company reported a total comprehensive income of RMB 42,727 thousand, down 47% from RMB 79,999 thousand in 2023[22] - The adjusted net profit for 2024 was RMB 72.933 million, compared to RMB 78.768 million in 2023, with a reported net profit of RMB 45.489 million for 2024[62] Sales and Production - Sales costs for the fiscal year ending December 31, 2024, were RMB 595.6 million, up RMB 56.3 million or 10.4% from RMB 539.3 million in the previous year, aligned with increased RV sales[7] - As of December 31, 2024, the company delivered a total of 2,804 RVs, representing a 4.1% increase from 2,694 units in 2023[13] - The Snowy River brand, the best-selling brand, delivered 2,408 units in 2024, an increase of 11.2% from 2,165 units in 2023[15] - The company has successfully produced 50 RV models across three distinct brands, including the best-selling mid-range brand Snowy River[12] Market and Product Development - The company upgraded 5 models under the Regent brand and launched 13 new models under the Snowy River brand in 2024, along with upgrades to 4 models and the development of 4 new models under the NEWGEN brand[10] - The company is developing pioneering models of electric RVs, aiming to create a sustainable and environmentally friendly path for RV electrification[10] - The company emphasizes customization in its RV offerings, catering to diverse customer needs from aesthetics to functionality[9] - The company aims to penetrate the European market by leveraging its status as a listed company and collaborating with local dealers[19] - The company plans to launch the SRH-Hybrid 2025, a hybrid RV model, in February 2025, focusing on durability, advanced technology, and luxury[16] Expenses and Financial Management - Selling and distribution expenses for 2024 were RMB 84.0 million, a significant increase of 102.4% from RMB 41.5 million in 2023, attributed to increased marketing and sales personnel[46] - Administrative expenses rose to RMB 79.9 million in 2024, up 120.7% from RMB 36.2 million in 2023, due to business expansion and increased administrative staff[47] - Research and development expenses increased by 71.3% to RMB 13.7 million in 2024 from RMB 8.0 million in 2023, reflecting a rise in R&D personnel costs[48] - Financial costs surged by 439.1% to RMB 12.4 million in 2024 from RMB 2.3 million in 2023, primarily due to increased interest expenses from financing partners[50] Assets and Liabilities - Total assets increased to RMB 443,371 thousand, up 41% from RMB 314,220 thousand in 2023[23] - Trade and other receivables rose to RMB 54,382 thousand, an increase of 18% from RMB 46,138 thousand in 2023[23] - Inventory decreased to RMB 228,103 thousand, down 6% from RMB 242,827 thousand in 2023[23] - Trade receivables decreased to RMB 37.7 million in 2024 from RMB 39.9 million in 2023, with all trade receivables expected to be collected within one year[36] - Total trade and other payables increased to RMB 314.8 million in 2024 from RMB 240.7 million in 2023, with significant increases in accounts payable and accrued expenses[39] - As of December 31, 2024, the company's net current liabilities amounted to RMB 60 million, primarily due to trade and other payables increasing by RMB 74.1 million to RMB 314.8 million compared to December 31, 2023[53] - Total loans and borrowings as of December 31, 2024, were RMB 89.4 million, up from RMB 31.6 million as of December 31, 2023, with RMB 64.2 million being secured loans from financing partners[54] Corporate Governance and Compliance - The company has established an audit committee consisting of independent non-executive directors to oversee financial reporting[71] - The company has complied with the corporate governance code as per the listing rules since its listing date, except for the separation of the roles of Chairman and CEO[68] - All directors confirmed compliance with the standard code of conduct for securities trading since the listing date[69] - The financial figures for the fiscal year ending December 31, 2024, have been agreed upon by the auditors, KPMG, and align with the consolidated financial statements[70] - The annual performance announcement and annual report will be published on the Hong Kong Stock Exchange and the company's website[74] Future Outlook - The company aims to strengthen its leadership in the Australian and New Zealand markets while expanding into Europe and Canada[20] - The company issued guarantees totaling RMB 24.8 million as of December 31, 2024, with no other significant contingent liabilities disclosed[60] - The net proceeds from the global offering, approximately HKD 292.6 million, will be used as disclosed in the prospectus, with no changes to the intended use of proceeds[67] - The company had 722 employees as of December 31, 2024, with 70.6% in production and supply chain roles[64] - The company's capital expenditure for 2024 was RMB 8 million, primarily for the purchase of plant and equipment[59] - As of December 31, 2024, the company had no significant capital commitments or plans for major investments or acquisitions[58] - The board does not recommend the declaration of any final dividend for the fiscal year ending December 31, 2024[73] - No significant events affecting the company have occurred since December 31, 2024, apart from the IPO[72]