Financial Performance - The company's revenue for Q1 2025 reached ¥549,139,988.60, representing a 21.68% increase compared to ¥451,313,806.78 in the same period last year[4] - Net profit attributable to shareholders was ¥41,769,816.78, a 34.19% increase from ¥31,128,501.46 year-over-year[4] - Total operating revenue for Q1 2025 reached ¥549.14 million, a 21.7% increase from ¥451.31 million in Q1 2024[17] - Net profit for Q1 2025 was ¥42.59 million, representing a 33.5% increase compared to ¥31.91 million in Q1 2024[18] - The company reported a total profit of ¥53.61 million for Q1 2025, an increase of 34.5% from ¥39.89 million in Q1 2024[18] Earnings and Shareholder Metrics - The basic earnings per share increased by 36.84% to ¥0.26 from ¥0.19 in the previous year[5] - Basic earnings per share for Q1 2025 were ¥0.26, compared to ¥0.19 in Q1 2024, reflecting a 36.8% increase[18] - The weighted average return on equity rose to 2.74%, up from 2.28%[5] - The number of ordinary shareholders at the end of the reporting period was 10,578[8] - The largest shareholder, Qian Xindong, holds 37.12% of the shares, amounting to 59,560,680 shares[9] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,336,378,949.64, a slight increase of 0.23% from ¥2,331,119,010.30 at the end of the previous year[5] - As of March 31, 2025, the total current assets amounted to RMB 1,548,241,045.01, an increase from RMB 1,531,900,493.55 as of December 31, 2024, reflecting a growth of approximately 1.2%[12] - The company's total assets as of March 31, 2025, were RMB 2,336,378,949.64, slightly up from RMB 2,331,119,010.30 as of December 31, 2024[14] - Total liabilities decreased to RMB 773,321,098.72 from RMB 810,144,187.57, a reduction of approximately 4.5%[14] - The total equity attributable to shareholders increased to RMB 1,546,756,172.66 from RMB 1,505,488,807.43, reflecting a growth of about 2.0%[14] Cash Flow and Operating Activities - The net cash flow from operating activities was negative at -¥110,454.92, compared to a positive ¥23,494,637.47 in the same period last year[4] - Cash flow from operating activities for Q1 2025 was negative at -¥110,454.92, a decline from positive cash flow of ¥23.49 million in Q1 2024[20] - Cash and cash equivalents at the end of Q1 2025 totaled ¥331.05 million, slightly down from ¥327.48 million at the end of Q1 2024[21] - The company's cash and cash equivalents decreased to RMB 331,052,371.16 from RMB 339,251,150.92, representing a decline of about 2.3%[12] Costs and Expenses - Total operating costs for Q1 2025 were ¥499.57 million, up 20.9% from ¥413.23 million in Q1 2024[17] - Research and development expenses increased to ¥33.30 million in Q1 2025, up 29.1% from ¥25.78 million in Q1 2024[17] Other Financial Metrics - Non-recurring gains and losses totaled ¥1,401,900.93, with government subsidies contributing ¥786,504.89[6] - The company incurred a credit impairment loss of -¥536,435.82 in Q1 2025, a significant improvement from a gain of ¥2.32 million in Q1 2024[17] - The company did not report any net profit from subsidiaries prior to the merger in Q1 2025, consistent with the previous period[19]

Core Viewpoint - The actual controller's concerted action party, Kane (Suzhou) Private Fund Management Co., Ltd. - Kane Bella Private Securities Investment Fund, plans to reduce its shareholding in Yidelong (603380.SH) by up to 3,200,000 shares, representing no more than 2% of the total shares, through block trading within three months after the announcement [1][2]. Group 1 - The planned reduction in shares will occur within a period from June 6, 2025, to September 5, 2025 [2]. - Kane Bella Fund currently holds 12,837,360 shares, accounting for 8.00% of the total share capital of the company [2][3]. - The actual controller, Qian Xindong, holds 59,560,680 shares, representing 37.12% of the total share capital, leading to a combined holding of 72,398,040 shares, or 45.12% [2][3]. Group 2 - The reason for the planned reduction is due to the shareholder's own funding needs [2]. - Prior to the reduction, Qian Xindong had 10,700,000 shares pledged, which is 7.05% of his holdings and 2.62% of the company's total share capital [5][6]. - The second-largest shareholder, Wang Ming, holds 20,507,160 shares, or 12.78% of the total, with 16,990,000 shares pledged, equating to 10.59% of the company's total share capital [6][7].

证券代码：603380 证券简称：易德龙 公告编号：2025-020 一、减持主体的基本情况 苏州易德龙科技股份有限公司 关于实际控制人的一致行动人减持股份计划公告 本公司董事会、全体董事及相关股东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： 大股东持股的基本情况 本次减持计划实施前，苏州易德龙科技股份有限公司（以下简称"公司"） 实际控制人的一致行动人凯恩（苏州）私募基金管理有限公司－凯恩贝拉私募证 券投资基金（以下简称"凯恩贝拉基金"）持有公司股票 12,837,360 股，占公司 总股本 8.00%，上述股份为协议转让取得，均为无限售流通股。 减持计划的主要内容 凯恩贝拉基金计划通过大宗交易方式减持公司股份数量合计不超过 3,200,000 股，不超过公司股份总数的 2%，将于本减持计划公告之日起的 15 个 交易日后的 3 个月内进行，在任意连续 90 日内，减持股份的总数不超过公司股 份总数的 2%；减持价格视市场情况确定。 | 股东名称 | 凯恩（苏州）私募基金管理有限公司－凯恩贝拉私募证 | | | | --- | ...

Core Viewpoint - The company is preparing for its 2024 Annual General Meeting (AGM) scheduled for May 16, 2025, to discuss various proposals including financial reports, profit distribution, and the appointment of auditors [1][2][3]. Group 1: Meeting Agenda and Procedures - The AGM will include the introduction of shareholders, voting methods, and the review of multiple proposals [1][2]. - Shareholders have the right to speak and ask questions during the meeting, with a requirement to register in advance [2][3]. - Voting will be conducted both on-site and via the Shanghai Stock Exchange's online voting system, with specific time slots designated for each [3][4]. Group 2: Financial Reports and Proposals - The board will present the 2024 Annual Work Report and the Supervisory Board's Work Report for shareholder approval [5][6]. - The company achieved a net profit of CNY 184.15 million in 2024, proposing a cash dividend of CNY 10.00 per 10 shares, totaling CNY 160.44 million, which represents 87.13% of the net profit [7][8]. - The company plans to renew its audit engagement with Rongcheng Accounting Firm for the 2025 fiscal year, with audit fees set at CNY 900,000 [8][9]. Group 3: Management Compensation - The actual salary of the Chairman for 2024 is reported at CNY 7.75 million, while total compensation for senior management amounts to CNY 8.88 million [9][10]. - Independent directors received a total of CNY 285,800 in allowances for the year [10]. Group 4: Guarantees and Financing - The company intends to provide guarantees for its wholly-owned subsidiary in Mexico, ETRON-ELB S. DE R.L. DE C.V., for a bank credit line of CNY 2 million [12][13]. - The subsidiary's financial status shows total assets of CNY 4.20 million and liabilities of CNY 6.39 million as of Q1 2025, indicating a negative net asset position [13]. Group 5: Governance and Regulatory Compliance - The company plans to amend its Articles of Association and governance rules to comply with new regulations from the China Securities Regulatory Commission [14].

苏州易德龙科技股份有限公司 2024 年年度股东大会会议资料 | 目录 | | | | | --- | --- | --- | --- | | 2024 年年度股东大会议程 | | 3 | | | 2024 年年度股东大会会议须知 | | 5 | | | 2024 年年度股东大会议案表决办法 | | 6 | | | 议案一、关于公司 2024 年度董事会工作报告的议案 | | | 7 | | 议案二、关于公司 2024 年度监事会工作报告的议案 | | | 8 | | 议案三、关于公司 2024 年度独立董事述职报告的议案 | | | 9 | | 议案四、关于公司 2024 年度财务决算报告的议案 | | | 10 | | 议案五、关于公司 2024 年度利润分配预案的议案 | | | 11 | | 议案六、关于公司 2024 年年度报告及其摘要的议案 | | | 12 | | 议案七、关于续聘容诚会计师事务所（特殊普通合伙）为公司 | | 2025 | 年度财务、 | | 内控审计机构的议案 | | | 13 | | 议案八、关于 年度公司董事长实际薪酬情况的议案 | 2024 | | 14 | | 议案九 ...

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 30.66 CNY, maintaining the rating [4]. Core Views - The company achieved a revenue of 2.161 billion CNY in 2024, a year-on-year increase of 12.74%, and a net profit of 184 million CNY, up 38.16% year-on-year. The first quarter of 2025 saw a revenue of 549 million CNY, growing 21.68% year-on-year, with a net profit of 42 million CNY, an increase of 34.19% year-on-year [1][2]. - The industrial control and communication sectors are rapidly growing, with industrial control product revenue reaching 1.025 billion CNY (up 32.07% year-on-year) and communication products growing to 369 million CNY (up 39.65% year-on-year) [2]. - The company is actively pursuing a global strategy, with domestic sales of 1.222 billion CNY (up 14.60% year-on-year) and overseas sales of 938 million CNY (up 10.33% year-on-year) in 2024 [3]. Summary by Sections Financial Performance - In 2024, the company reported a revenue of 2.161 billion CNY and a net profit of 184 million CNY, with a significant increase in net profit margin to 8.5% [10]. - The projected revenues for 2025-2027 are 2.507 billion CNY, 2.829 billion CNY, and 3.204 billion CNY, respectively, with net profits expected to be 234 million CNY, 275 million CNY, and 332 million CNY [9][10]. Business Segments - The industrial control segment contributed 1.025 billion CNY to revenue, while the communication segment reached 369 million CNY, indicating strong growth in these areas [2]. - Medical electronics, automotive electronics, and consumer electronics generated revenues of 320 million CNY, 277 million CNY, and 93 million CNY, respectively, with varying growth rates [2]. Global Strategy - The company is enhancing its global presence with factories in Mexico, Romania, and Vietnam, which are expected to boost overseas sales and improve supply chain efficiency [3][8]. - The domestic market remains strong, with a focus on maintaining relationships with key clients, while the international market is anticipated to grow due to improved operational capabilities [3].

证券代码：603380 证券简称：易德龙 公告编号：2025-019 苏州易德龙科技股份有限公司 关于新加坡全资子公司对外设立全资子公司的进展公告 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。 一、对外投资基本情况 苏州易德龙科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召 开了公司第四届董事会第四次会议，审议通过了《关于对新加坡全资子公司实施 增资及再投资设立全资子公司的议案》，同意公司二级全资子公司 EAH Singapore Pte. Ltd.（以下简称"EAH"或"新加坡公司"）使用自有资金 300 万美元，对 外投资新设全资子公司 ETRON APEX TECH PTE. LTD.（以下简称"ETRON APEX"）。 具 体 内 容 详 见 公 司 于 2025 年 4 月 26 日 公 告 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《苏州易德龙科技股份有限公司关于对新加坡全资子 公司实施增资及再投资设立全资子公司的公告》（公告编号：2025-01 ...

Group 1: Yidelong - Yidelong is addressing geopolitical challenges in 2024 through global layout and differentiated strategies, significantly enhancing overseas factory capacity [1] - The company's R&D focuses on motors, power supplies, battery management, and automation, aiming to improve customer satisfaction through customized development [1] - Yidelong is performing well in industrial control, medical, and communication sectors, while focusing on commercial vehicles in the automotive sector [1] - Cost reduction is achieved through supply chain management optimization, and the company is increasing its dividend payout ratio based on a healthy balance sheet and sufficient cash flow without affecting capital expenditures [1] Group 2: Guangdong Hongda - In Q1, Guangdong Hongda's gross margin for civil explosives increased compared to the same period last year, showing overall stability despite short-term market price and raw material price fluctuations [2] - The company anticipates an increase in gross margin for civil explosive products as the industry consolidation accelerates, although regional differences in market conditions may lead to structural variations in margins [2] - Revenue growth in Xinjiang is attributed to new contracts in mining services, while business expansion in Tibet is driven by successful operations at major mining projects [2] - The company is implementing a "going out" strategy, focusing on overseas markets along the Belt and Road Initiative, particularly in South America and South Africa [2] - Increased equipment procurement and other expenditures in Q1 resulted in a cash outflow due to expanded business scale, with plans to gradually inject civil explosive capacity into Xuefeng Technology based on market demand [2] Group 3: Jingzhida - In 2024, Jingzhida's gross margin for new display business lines is declining due to changes in product structure, with a reduced proportion of Cell segment products [3] - The semiconductor business line's revenue share has risen to over 30%, with core components of testing machines being self-sourced, leading to improved gross margins [3] - By Q1 2025, the revenue share of the semiconductor business line is expected to exceed 70%, causing fluctuations in overall gross margin due to product structure changes [3] - The company is advancing the localization of core components for storage testing machines to ensure supply chain security and enhance gross margins [3]

证券代码：603380 证券简称：易德龙 公告编号：2025-018 苏州易德龙科技股份有限公司 关于 5%以上股东所持有的部分股份质押的公告 | | 是否 为控 | 本次质押 | 是否 | 是否 | 质押起始 | 质押到期 | | 占其所 | 占公司 | 质押 融资 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | | | 为限 | 补充 | | | 质权人 | 持股份 | 总股本 | | | 名称 | 股股 | 股数 | 售股 | 质押 | 日 | 日 | | 比例 | 比例 | 资金 | | | 东 | | | | | | | | | 用途 | | | | | | | | | 南京证券 | | | 个人 | | 王明 | 否 | 3,770,000 | 否 | 是 | 2025/4/24 | 2026/4/24 | 股份有限 | 18.38% | 2.35% | 资金 | | | | | | | | | 公司 | | | 需要 | 1、本次股份质押基本情况 2、本次质押股份未被用作重大资产重组业绩补偿 ...

证券研究报告·公司点评报告·消费电子 易德龙（603380） 2024 年报&2025 年一季报点评：强化全球制 造能力，全球化布局助力成长 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 1,917 | 2,161 | 2,502 | 2,850 | 3,210 | | 同比（%） | (2.86) | 12.74 | 15.79 | 13.90 | 12.63 | | 归母净利润（百万元） | 133.28 | 184.15 | 241.82 | 283.14 | 333.72 | | 同比（%） | (25.35) | 38.16 | 31.32 | 17.09 | 17.86 | | EPS-最新摊薄（元/股） | 0.83 | 1.15 | 1.51 | 1.76 | 2.08 | | P/E（现价&最新摊薄） | 26.37 | 19.09 | 14.54 | 12.42 | 10.53 | [Tab ...