登录新浪财经APP 搜索【信披】查看更多考评等级 ●本次交易在董事会审批范围内，不需经股东大会审议。 ●本次交易不存在重大交易风险。 一、交易概述 桂林福达股份有限公司（以下简称"公司"或"FUDA"）与Maschinenfabrik Alfing Kessler GmbH（以下简 称"ALFING"）于2018年共同出资设立"桂林福达阿尔芬大型曲轴有限公司"（以下简称"合资公 司"或"ALFU"），双方各持有合资公司50.00%的股权。 为进一步优化资产结构及资源配置，公司于2025年4月27日与ALFING签署了两份《股权转让协议》， 拟分两期（第一期转让25%股权、第二期转让25%股权）将所持有的合资公司全部50%股权转让给 ALFING，依据审计评估结果为基础进行协商后，双方确定合资公司50%的股权转让价格合计为人民币 9,600万元（第一期转让价为4,800万元、第二期转让价为4,800万元）。股权转让完成后，公司将不再持 有合资公司的股权。 ●交易简要内容：公司与ALFING签署了两份《股权转让协议》，拟分两期向ALFING转让合资公司共计 50%股权，两期股权转让价款共计为人民币9,600万元（ ...

Summary of Fuda Co., Ltd. Conference Call Company Overview - Fuda Co., Ltd. reported a remarkable performance in Q1 2025, with a year-on-year growth rate of 339%, significantly surpassing the typical seasonal performance of the automotive industry, driven by capacity expansion and improvement in commercial vehicle business [2][3] Key Financial Metrics - Revenue for Q1 2025 reached approximately 470 million yuan, with a non-recurring net profit of 65.51 million yuan, reflecting a 112% year-on-year increase [3] - The net cash flow from operating activities was about 198 million yuan, showing a 339% increase year-on-year [3] - Gross margin for Q1 2025 was 27.1%, and net profit margin was around 14%, attributed to enhanced production efficiency and improved commercial vehicle business [2][8] Strategic Business Moves - The company decided to sell its 51% stake in Fuda's second subsidiary to optimize its business structure, focusing on strategic areas such as intelligent connected vehicles, new energy vehicles, and core components for robotics [2][4][7] - The sale is expected to positively impact Fuda's profits in 2025, with a total transaction amount of 96 million yuan, generating over 10 million yuan in balance sheet premium and more than 90 million yuan in profit statement gains [2][7] Capacity and Production - As of April 2025, Fuda's annualized capacity reached over 3.3 million sets, with expectations to increase to around 4.2 million sets by the end of the year [4][9] - The company has been operating at full capacity, with a production model that allows for quick adjustments to meet different customer demands, particularly in hybrid vehicle models [10] Robotics Business Development - Fuda's robotics business is advancing on two fronts: the self-developed planetary reducer, which is expected to start receiving orders in 2025, and a partnership with Changqing Technology to produce planetary roller screws [6][12] - The company has signed a confidentiality agreement with a sales company and has delivered the first batch of samples for the planetary reducer [6] Market Position and Future Outlook - Fuda is focusing on expanding its market share in the European market, with significant increases in export volumes expected in 2025 [14] - The company is strategically positioning itself to maintain flexibility for rapid expansion while ensuring resource optimization through the sale of non-core assets [15][16] Competitive Landscape - The robotics market is viewed as being in its early stages, with ongoing technological iterations expected. Fuda believes that its strong equipment capabilities will provide a competitive edge in cost and quality [13] - The company is committed to focusing on core areas such as passenger vehicles, new energy electric drive gears, and core components for robotics, aiming to leverage its strengths in these sectors for future growth [12][13]

证券代码：603166 证券简称：福达股份 公告编号：2025-026 桂林福达股份有限公司 关于转让合资公司股权暨签订股权转让协议的公告 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个别及连带责任。 重要内容提示： ●交易简要内容：公司与 ALFING 签署了两份《股权转让协议》，拟分两期向 ALFING 转让合资公司共计 50%股权，两期股权转让价款共计为人民币 9,600 万元（依 据审计评估结果为基础进行协商后确定最终价格），转让完成后，公司不再持有合 资公司股权。 为进一步优化资产结构及资源配置，公司于 2025 年 4 月 27 日与 ALFING 签署了 两份《股权转让协议》，拟分两期（第一期转让 25%股权、第二期转让 25%股权）将 所持有的合资公司全部 50%股权转让给 ALFING，依据审计评估结果为基础进行协商 后，双方确定合资公司 50%的股权转让价格合计为人民币 9,600 万元（第一期转让价 为 4,800 万元、第二期转让价为 4,800 万元）。股权转让完成后，公司将不再持有 合资公司的股权。 公司于 ...

本报告依据中国资产评估准则编制 桂林福达股份有限公司拟转让股权涉及的 桂林福达阿尔芬大型曲轴有限公司股东全部权益价值 资产评估报告 京信评报字(2025)第 162 号 中京民信 (北京)资产评估有限公司 == 日 F年 中国资产评估协会 资产评估业务报告备案回执 | 报告编码: | 1142020031202500276 | | --- | --- | | 合同编号: | HBBM2025-028 | | 报告类型: | 法定评估业务资产评估报告 | | 报告文号: | 京信评报字(2025)第162号 | | 报告名称: | 桂林福达股份有限公司拟转让股权涉及的 桂林福达阿尔芬大型曲 轴有限公司股东全部权益价值 资产评估报告 | | 评估结论: | 171,806,900.00元 | | 评估报告日: | 2025年04月23日 | | 评估机构名称: | 中京民信(北京)资产评估有限公司 | | 签名人员: | (资产评估师) 李新星 正式会员 编号: 42190022 | | | 张峰 (资产评估师) 正式会员 编号: 11130010 | | | 李新星、张峰已实名认可 | (可扫描二维码查询备案业 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price range of 17.5 to 19.7 yuan [2][8]. Core Insights - The company reported a record high net profit margin in Q1 2025, with revenue of 470 million yuan, a year-on-year increase of 47%, and a net profit of 65 million yuan, up 106% year-on-year [2][8]. - The company's transition towards robotics is accelerating, with significant growth expected in the coming years [8]. Financial Performance Summary - **Revenue Forecast**: - 2024A: 1,648 million yuan - 2025E: 2,351 million yuan (42.7% YoY growth) - 2026E: 2,829 million yuan (20.3% YoY growth) - 2027E: 3,228 million yuan (14.1% YoY growth) [4][9] - **Net Profit Forecast**: - 2024A: 185 million yuan - 2025E: 282 million yuan (52.4% YoY growth) - 2026E: 351 million yuan (24.3% YoY growth) - 2027E: 407 million yuan (15.8% YoY growth) [4][9] - **Earnings Per Share (EPS)**: - 2024A: 0.29 yuan - 2025E: 0.44 yuan - 2026E: 0.54 yuan - 2027E: 0.63 yuan [4][9] - **Valuation Ratios**: - Price-to-Earnings (P/E) ratio for 2025E: 34 [4][9] - Price-to-Book (P/B) ratio for 2025E: 3.6 [4][9] Business Development Insights - The company is experiencing significant growth in its crankshaft business, particularly in the passenger vehicle segment, with over 50% supply share for BYD's hybrid models [8]. - The company is set to enter a new expansion cycle with the production of 1 million automated new energy hybrid crankshafts expected to commence before May 2025 [8]. - The robotics transformation is highlighted as a key focus, with the company developing a planetary gearbox product for robots, with milestones set for 2024 [8].

Core Viewpoint - The company, Guilin Fuda Co., Ltd., has released its quarterly report, ensuring the accuracy and completeness of the financial information presented, and confirming that there are no false statements or significant omissions [2][3]. Financial Data Summary - The financial statements for the first quarter of 2025 are unaudited, with the company confirming that there were no profits from mergers under common control for the current and previous periods, both reported as 0 yuan [5]. - The report includes a consolidated balance sheet, consolidated income statement, and consolidated cash flow statement for the period from January to March 2025, all prepared in Renminbi [5]. Shareholder Information - The report does not provide any updates on the number of shareholders or changes in the top ten shareholders' holdings [4]. Other Important Information - The company has not identified any significant non-recurring gains or losses during the reporting period [3][5].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 471,082,544.92, representing a 46.97% increase compared to CNY 320,532,521.26 in the same period last year[4] - Net profit attributable to shareholders reached CNY 65,106,813.28, a significant increase of 106.06% from CNY 31,595,670.03 year-on-year[4] - Basic and diluted earnings per share both doubled to CNY 0.10, up 100% from CNY 0.05 in the same quarter last year[4] - Operating profit for Q1 2025 was CNY 73,730,931.55, compared to CNY 32,335,716.76 in the same period last year, indicating an increase of about 128.2%[17] - The total profit for Q1 2025 was CNY 71,130,231.25, compared to CNY 32,335,733.11 in Q1 2024, reflecting an increase of about 120.5%[17] - Total revenue from sales of goods and services in Q1 2025 was CNY 665,670,904.80, compared to CNY 296,169,926.71 in Q1 2024, reflecting an increase of about 124.5%[19] Cash Flow - The net cash flow from operating activities surged by 339.03%, amounting to CNY 198,765,209.51, compared to CNY 45,273,713.55 in the previous year[4] - Cash flow from operating activities for Q1 2025 was CNY 198,765,209.51, up from CNY 45,273,713.55 in Q1 2024, marking a growth of approximately 339.5%[19] - The company reported a significant increase in cash inflows from operating activities, totaling CNY 668,533,414.05 in Q1 2025, compared to CNY 304,575,878.74 in Q1 2024, an increase of approximately 119.5%[19] - Cash and cash equivalents at the end of Q1 2025 totaled CNY 98,894,137.46, up from CNY 67,911,471.00 at the end of Q1 2024, representing an increase of approximately 45.5%[20] Assets and Liabilities - Total assets increased by 6.91% to CNY 4,371,188,156.05 from CNY 4,088,693,972.05 at the end of the previous year[5] - Total liabilities increased to CNY 1,910,849,317.96 from CNY 1,695,894,544.14, marking an increase of 12.7%[13] - The company's equity attributable to shareholders rose to CNY 2,460,338,838.09 as of March 31, 2025, compared to CNY 2,392,799,427.91 at the end of 2024, an increase of 2.8%[14] Shareholder Information - The company reported a total of 50,521 common shareholders at the end of the reporting period[9] - The largest shareholder, Fuda Holdings Group Co., Ltd., holds 53.10% of the shares, amounting to 343,134,040 shares[9] Operating Costs and Expenses - Total operating costs for Q1 2025 were CNY 406,529,369.17, up 38.8% from CNY 292,983,788.90 in Q1 2024[16] - The company incurred a total operating expense of CNY 469,768,204.54 in Q1 2025, compared to CNY 259,302,165.19 in Q1 2024, indicating an increase of about 81.0%[19] - Research and development expenses increased to CNY 27,828,899.02 in Q1 2025, compared to CNY 19,858,213.40 in Q1 2024, reflecting a growth of 40.0%[16] Investment Activities - The net cash flow from investing activities for Q1 2025 was -CNY 199,507,457.85, compared to -CNY 48,299,312.25 in Q1 2024, indicating a deeper investment outflow[20] - Investment income for Q1 2025 was CNY 748,565.43, a recovery from a loss of CNY 655,467.77 in Q1 2024[16] Market Demand - The increase in revenue was primarily driven by higher market demand for passenger car crankshafts, especially hybrid crankshafts[6] Non-Recurring Loss - The company recorded a total non-recurring loss of CNY 407,525.84 during the reporting period[6]

Group 1 - The core point of the article is that Fuda Co., Ltd. (603166) reported significant growth in its financial performance for the first quarter of 2025, with revenue reaching 471 million yuan, representing a year-on-year increase of 46.97% [1] - The net profit for the same period was 65.11 million yuan, showing a remarkable year-on-year growth of 106.06% [1]

证券代码：603166 证券简称：福达股份 公告编号：2025-025 桂林福达股份有限公司 关于召开 2024 年度暨 2025 年第一季度 业绩说明会的公告 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： （一）会议召开时间：2025 年 05 月 07 日（星期三）09:30-11:30 投资者可于 2025 年 04 月 25 日（星期五）至 05 月 06 日（星期二）16:00 前登录上 证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 foto@glfoto.cn 进行提 问。公司将在说明会上对投资者普遍关注的问题进行回答。 桂林福达股份有限公司（以下简称"公司"）已于 2025 年 03 月 27 日发布公司 2024 年度报告，并将于 2025 年 04 月 26 日发布公司 2025 年第一季度报告，为便于广大投资 者更全面深入地了解公司 2024 年度及 2025 年第一季度经营成果、财务状况，公司计划 于 2025 年 05 月 07 日（星期三）09:30-11:30 举行 20 ...

北京德恒律师事务所 关于桂林福达股份有限公司 2024 年年度股东大会的 法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话：010-52682888 传真：010-52682999 邮编：100033 北京德恒律师事务所 关于桂林福达股份有限公司 2024 年年度股东大会的法律意见 北京德恒律师事务所 关于桂林福达股份有限公司 2024 年年度股东大会的 法律意见 致：桂林福达股份有限公司 桂林福达股份有限公司（以下简称"公司"）2024 年年度股东大会（以下 简称"本次会议"）于 2025 年 4 月 16 日（星期三）召开。北京德恒律师事务所 接受公司委托，指派李哲律师、王冰律师（以下简称"德恒律师"）出席本次会 议。根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》（以下 简称"《股东会规则》"）、《桂林福达股份有限公司章程》（以下简称"《公 司章程》"）的规定，德恒律师就本次会议的召集、召开程序、现场出席会议人 员资格、表决程序等相关事项进行见证，并发表法律意见。 为出具本法律意见，德恒律师出席了本 ...