Group 1: Company Overview and Activities - The company, Lingyun Industrial Co., Ltd., held an earnings briefing on May 20, 2024, to discuss the 2023 annual results and the first quarter of 2024 [1][5] - The meeting aimed to provide investors with a comprehensive understanding of the company's financial performance and operational results [5] Group 2: Financial Performance - In 2023, the company reported a revenue of 18.7 billion, representing a year-on-year growth of 12.06% [7][10] - The net profit attributable to shareholders was 632 million, showing an impressive increase of 85%, while the net profit after deducting non-recurring items grew by 96% [7][10] - For the first quarter of 2024, the company achieved a revenue of 4.3 billion, with a year-on-year increase of 8.48%, and a net profit of 220 million, reflecting a significant growth of 163% [10] Group 3: Future Projections - The company plans to achieve a revenue target of 19.26 billion for 2024, which serves as an internal management control indicator [7] - The company has over 52 billion in orders as of the end of 2023, with a focus on gradual production starting in 2024 [9] Group 4: Technological Innovations - Lingyun focuses on key technological innovations in the new energy vehicle parts sector, emphasizing the importance of technological breakthroughs in the automotive components industry [6] - The company has developed core technologies for high-strength, lightweight automotive components, achieving significant advancements in production capabilities [13] Group 5: ESG and Environmental Commitment - The company received a CC rating in ESG from Huazheng Environment, indicating room for improvement in environmental performance [8] - Lingyun is committed to integrating ESG principles into its operations, focusing on environmental protection, social responsibility, and corporate governance [8][15] Group 6: Shareholder Engagement and Dividends - The company maintains a cash dividend policy of distributing over 30% of the net profit attributable to shareholders, with a preliminary plan for 2023 to distribute 2.5 per 10 shares [11] - The company ensures fair information disclosure to all investors, including updates on shareholder numbers and dividend plans [11][12]

Financial Performance - 2023 revenue reached 18.7 billion yuan, a year-on-year increase of 12.06% [7][10] - Net profit attributable to the parent company in 2023 was 632 million yuan, up 85% year-on-year [7][10] - Non-GAAP net profit in 2023 was 570 million yuan, up 96% year-on-year [7][10] - Q1 2024 revenue was 4.3 billion yuan, up 8.48% year-on-year [10] - Q1 2024 net profit attributable to the parent company was 220 million yuan, up 163% year-on-year [10] - 2024 revenue target is 19.26 billion yuan [7] New Orders and Market Expansion - Total new orders in 2023 exceeded 52 billion yuan, mainly for projects starting production from 2024 [8][9] - 240 new metal projects and 344 new automotive pipeline projects secured in 2023 [14] - 5 new TSL projects secured in Mexico [14] - Q1 2024 saw increased orders from BMW, Great Wall Motors, Changan Automobile, Seres, GAC Toyota, and Stellantis [12] Technological Innovation - Focused on key technological innovations in new energy vehicle components [5] - Developed high-strength steel online variable curvature forming technology, breaking foreign monopoly [13] - Achieved mass production of 1700MPa roll-formed products [13] - Established China's first fully automated hot-stamping laser welding production line [13] ESG and Sustainability - Received CC rating in environmental aspect from Huazheng ESG rating [8] - Committed to improving ESG performance and integrating ESG concepts into operations [8][15] - Published 2023 ESG report [15] Strategic Development - Aiming to build a globally competitive modern enterprise with technology, brand, culture, and ambition [6] - Focusing on high-end, intelligent, and green transformation [6] - Established joint innovation research institute with Chery, providing technical support for all Chery platform models [16] Shareholder Relations - Maintained cash dividend payout ratio above 30% of net profit [11] - Proposed 2023 dividend of 2.5 yuan per 10 shares, representing 37% of net profit [11] - Committed to fair information disclosure and protecting small shareholders' rights [10][12]

凌云工业股份有限公司2003年上市是一家全球化汽车零部件供应商拥有凌云股份亚大等品牌主导产品有车身安全结构产品 新能源汽车电池产品汽车管路系统积极布局新能源电池管理系统及封装系统汽车热管理系统汽车流体控制系统汽车限控转向系统及智能制造工程连续多年若是中国汽车工业零部件30条 中国汽车零部件集团及供应商榜单公司拥有一加七产品创新平台体系具备同步设计、试验验证及核心装备制造能力车身安全结构产品具备高强滚压、冲压、铝合金拉弯等工艺能力 新能源汽车电池产品拥有多条数字化生产线及多种焊接工艺汽车管路系统拥有多层供给弯管成型等技术能力此外公司拥有热成型铝合金成型长筋围复合材料磨压成型等先进工艺能力具备激光焊接铝合金CMT焊接FSW焊接等各类连接技术 是国家技术创新示范企业拥有一个国家级企业技术中心持三个国家认可委认可的实验室和检测中心持一个省级技术中心工业设计中心公司围绕核心汽车产业地区建立东北、华北、华东、中南、西南五大区域公司 汽车管路、新能源、热成型三大专业公司及两家境外公司分别在中国、德国、墨西哥、摩洛哥、印尼均有60余家制造工厂为国内国际主流汽车品牌客户提供最优质的产品和服务努力打造世界一流汽车零部件集团化供应 ...

证券代码：600480 证券简称：凌云股份 公告编号：2024-027 凌云工业股份有限公司 关于收购控股子公司股权的公告 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法律责任。 重要内容提示： 投资标的名称：凌云工业股份有限公司（以下简称"本公司"或"公司"）拟 以自有资金收购控股子公司北京世东凌云科技有限公司（以下简称"凌云世东"） 50%的股权（简称"本次交易"）。 本次交易不构成关联交易，亦不构成《上市公司重大资产重组管理办法》 规定的重大资产重组。 本次交易已经公司第八届董事会第十八次会议审议通过，无需提交股东 大会审议。 相关风险提示：本次收购控股子公司股权是为统筹优化北京区域优质资 源配置，助力汽车零部件产品转型升级，未来可能面临市场开发、产业转型、资 产减值等方面的风险。 一、交易概述 （一）交易基本情况 为统筹优化北京区域优质资源配置，助力汽车零部件产品转型升级，本公司 拟以自有资金收购韩国世东株式会社（简称"韩国世东"）持有的凌云世东 50%股 权，收购完成后，本公司持有凌云世东 100%股权。 经双方股东充分沟通 ...

证券代码：600480 证券简称：凌云股份 公告编号：2024-025 凌云工业股份有限公司 第八届董事会第十八次会议决议公告 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法律责任。 一、 董事会会议召开情况 2024 年 5 月 20 日，凌云工业股份有限公司（以下简称"公司"或"本公司"） 以通讯表决方式召开了第八届董事会第十八次会议，会议通知已于 2024 年 5 月 11 日以电子邮件等方式向全体董事、监事和高级管理人员发出。本次会议应出 席董事七名，实际出席董事七名。会议的召开符合法律法规和《公司章程》的规 定，合法、有效。 二、 董事会会议审议情况 （一）审议通过《关于收购北京世东凌云科技有限公司 50%股权项目的 议案》 收购控股子公司股权的情况详见公司临时公告，公告编号：2024-027。 （二）审议通过《关于 2022 年限制性股票激励计划第一个解除限售期公司 业绩考核目标达成的议案》 表决结果：同意 7 人；反对 0 人；弃权 0 人。 同意公司以现金方式收购韩国世东株式会社持有的北京世东凌云科技有限 公司 50% ...

证券代码：600480 证券简称：凌云股份 公告编号：2024-028 凌云工业股份有限公司 关于 2022 年限制性股票激励计划第一个解除限售期 公司业绩考核目标达成的公告 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法律责任。 凌云工业股份有限公司（以下简称"公司"）于 2024 年 5 月 20 日召开第八 届董事会第十八次会议、第八届监事会第十四次会议，审议通过《关于 2022 年 限制性股票激励计划第一个解除限售期公司业绩考核目标达成的议案》。现将 2022 年限制性股票激励计划（以下简称"本次激励计划"）第一个解除限售期公 司业绩考核目标达成有关情况公告如下： 一、 公司限制性股票激励计划已履行的相关审批程序及信息披露情况 1、2022 年 12 月 9 日，公司第八届董事会第八次会议审议通过了《关于凌 云工业股份有限公司<2022 年限制性股票激励计划（草案）>及其摘要的议案》 《关于凌云工业股份有限公司<限制性股票激励计划管理办法>的议案》《关于 凌云工业股份有限公司<2022 年限制性股票激励计划实施考核管理办法>的 ...

北京市朝阳区建外大街丁 12 号英皇集团中心 8 层 8/F, Emperor Group Centre, No. 12D, Jianwai Avenue, Chaoyang District, Beijing, 100022, P.R. China 电话/Tel.:010-50867666 传真/Fax:010-65527227 网址/Website:www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 北京市康达律师事务所 关于凌云工业股份有限公司 2022 年限制性股票激励计划 法律意见书 法律意见书 北京市康达律师事务所 关于凌云工业股份有限公司 2022 年限制性股票激励计划 第一个解除限售期公司业绩考核目标达成的 第一个解除限售期公司业绩考核目标达成的 法律意见书 康达法意字[2024]第 1817 号 二〇二四年五月 、 3. 本所及经办律师仅就公司本次业绩达成的相关法律事项发表意见，并不 对会计、审计等专业事项发表意见，本所及经办律师不具备对该等专业事项进行 核查 ...

经与会监事讨论表决，一致同意形成以下决议： 证券代码：600480 证券简称：凌云股份 公告编号：2024-026 凌云工业股份有限公司 第八届监事会第十四次会议决议公告 本公司监事会及全体监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法律责任。 一、监事会会议召开情况 2024 年 5 月 20 日，凌云工业股份有限公司（以下简称"公司"）以通讯 表决方式召开第八届监事会第十四次会议，会议通知已于 2024 年 5 月 11 日以 电子邮件等方式向全体监事发出。本次会议应出席监事三名，实际出席监事三名。 会议的召开符合《公司法》和《公司章程》中关于监事会工作的有关规定，合法、 有效。 二、监事会会议审议情况 （一）关于 2022 年限制性股票激励计划第一个解除限售期公司业绩考核目 标达成的议案 监事会认为：根据公司 2022 年限制性股票激励计划方案，第一个解除限售 期考核年度为 2023 年。经分析公司财务数据、同行业数据和对标指标，2023 年公司业绩考核目标已全面达成，符合《上市公司股权激励管理办法》以及《2022 年限制性股票激励计划（草案）》 ...

Investment Rating - The report maintains a "Buy" rating for the company, with expectations of both performance and valuation improvements, anticipating a potential "Davis Double Click" effect [1][20] Core Views - Short-term: The company has passed the peak of capacity investment, and downstream demand is gradually increasing, which is expected to release profit elasticity. The completion of the private placement enhances the strength of new businesses [1] - Medium to long-term: The company is strategically transforming towards new energy, with significant upfront investments that have weighed on performance. However, the company's battery boxes and hot forming technologies are well-positioned and technologically领先, offering substantial growth potential. The company is entering a profit release cycle in the short term [1][12] - The company's 2024-2026 net profit attributable to the parent company is forecasted to be 7.6, 8.6, and 9.7 billion yuan, respectively, with corresponding P/E ratios of 13.9X, 12.4X, and 10.9X [1] Financial Performance - In 2023, the company achieved revenue of 187.0 billion yuan, a year-on-year increase of 12.1%, and net profit attributable to the parent company of 6.3 billion yuan, a year-on-year increase of 86.4% [3][8] - In Q1 2024, the company achieved revenue of 43.0 billion yuan, a year-on-year increase of 8.5%, and net profit attributable to the parent company of 2.2 billion yuan, a year-on-year increase of 163.4% [3][28] - The company's gross margin in 2023 was 16.3%, an increase of 1.6 percentage points year-on-year, with Q4 gross margin reaching 16.8%, up 1.6 percentage points year-on-year and 0.2 percentage points quarter-on-quarter [8] - In Q1 2024, the company's gross margin reached 18.0%, an increase of 2.7 percentage points year-on-year and 1.2 percentage points quarter-on-quarter, reaching a recent high [28] Strategic Transformation and Market Position - The company is strategically transforming towards new energy, with a focus on lightweight products and global supply capabilities. The company's market position and profitability are continuously improving [12] - The company's new business orders have been increasing, with annual new project orders reaching a historical high, exceeding the annual target by 200%. The company's market share in body safety structural parts, new energy battery shells, and automotive pipelines exceeds 85%, maintaining a leading position in细分 markets [12] - The company has secured 240 new projects in the metal sector and 344 new projects in automotive pipeline products, expanding into fluid control systems. The Mexican WAM facility has secured 5 new projects from TSL [12] Operational Improvements - The company is actively improving the operations of overseas enterprises and optimizing global布局, enhancing the operational management capabilities of海外 companies. The company is also promoting the operational improvement of German WAG and the capacity enhancement and mass production of key projects at Mexican WAM [12] Financial Forecasts - The company's revenue is forecasted to be 203.2 billion yuan in 2024, 216.6 billion yuan in 2025, and 230.9 billion yuan in 2026 [19] - Net profit attributable to the parent company is forecasted to be 7.6 billion yuan in 2024, 8.6 billion yuan in 2025, and 9.7 billion yuan in 2026 [1] - The company's EPS is forecasted to be 0.81 yuan in 2024, 0.91 yuan in 2025, and 1.03 yuan in 2026 [19]

凌 云 工 业 股 份 有 限 公 司 600480 2023 年年度股东大会 会议资料 二零二四年五月 凌云工业股份有限公司 2023年年度股东大会 2023 年年度股东大会议程 现场会议时间：2024年5月24日上午10:00 网络投票时间：采用上海证券交易所网络投票系统，通过交 易系统投票平台的投票时间为股东大会召开当日的交易时间段， 即 9:15-9:25,9:30-11:30，13:00-15:00；通过互联网投票平台 的投票时间为股东大会召开当日的 9:15-15:00。 现场会议地点：凌云工业股份有限公司会议室 参会人员：股东及股东代表、董事、监事、高级管理人员、 公司聘请的律师 会议议程： 一、主持人宣布会议开始 二、介绍参加会议的股东及股东代表、董事、监事、高管人 员、律师 三、审议会议议题 1. 2023 年度董事会工作报告； 2. 2023 年度独立董事述职报告； 3. 2023 年度监事会工作报告； 4. 2023 年度财务决算报告； 5. 2023 年度利润分配方案； 6. 2023 年年度报告及摘要； 7. 2024 年度财务预算报告； 8. 关于 2024 年度日常关联交易预计情 ...