Investment Rating - The report assigns a "Buy" rating to the company, with a target price of 2.26 CNY, corresponding to a PE ratio of 28/23/19X for the years 2025-2027 [8]. Core Insights - The company, Yidelong, has been deeply engaged in the EMS (Electronic Manufacturing Services) sector for over 20 years and is undergoing a strategic transformation from OEM (Original Equipment Manufacturer) to ODM (Original Design Manufacturer), aiming to become a global leader in electronic manufacturing services with stable growth in performance [2][7]. - The EMS market is projected to grow steadily, with a global market size expected to reach 799 billion USD by 2028, reflecting a CAGR of approximately 4.6% from 2024 [7][39]. - Yidelong's revenue is expected to increase significantly, with forecasts of 21.61 billion CNY in 2024, 26.49 billion CNY in 2025, and a net profit of 1.84 billion CNY in 2024, representing a year-on-year growth of 38.2% [7][9]. Summary by Sections Company Overview - Yidelong specializes in EMS, providing customized R&D, supply chain management, and product development services across various sectors, including industrial control, communications, medical electronics, automotive electronics, and consumer electronics [15][18]. - The company has a clear and stable shareholding structure, with the controlling shareholders holding 45.12% of the total shares [15]. Financial Performance - The company's revenue has shown steady growth, increasing from 1.289 billion CNY in 2020 to an expected 21.61 billion CNY in 2024, with a CAGR of 13.79% [20]. - The net profit is projected to rise significantly, with 2024 net profit expected to be 1.84 billion CNY, a 38.2% increase year-on-year [7][20]. Industry Analysis - The EMS industry is characterized by stable growth driven by diverse downstream sectors, including industrial control, communications, automotive electronics, medical electronics, and consumer electronics [7][39]. - The global EMS market is expected to grow from 633.2 billion USD in 2024 to 799 billion USD by 2028, indicating a robust demand for EMS services [39]. Strategic Transformation - Yidelong is transitioning to focus on major industry clients, enhancing its R&D capabilities by embedding teams within client organizations, and expanding its global production capacity [7][50][61]. - The company is developing innovative products such as PCB axial motors, which offer advantages over traditional motors, including higher efficiency, lightweight design, low noise, and high reliability [7][71][80]. Future Outlook - The company aims to enhance its position as a high-end electronic manufacturing service provider by continuing to develop quality clients and integrating R&D, manufacturing, and service capabilities [67].

证券代码：603380 证券简称：易德龙 公告编号：2025-043 苏州易德龙科技股份有限公司 关于召开2025年第一次临时股东会的提示性公告 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。 苏州易德龙科技股份有限公司（以下简称"公司"）于 2025 年 10 月 14 日在 上海证券交易所网站（www.sse.com.cn）及公司指定信息披露媒体上刊登了《苏 州易德龙科技股份有限公司关于召开 2025 年第一次临时股东会的通知》，定于 2025 年 10 月 29 日以现场投票和网络投票相结合的方式召开公司 2025 年第一次 临时股东会。现将本次会议的有关事项再作如下提示： 重要内容提示： 一、 召开会议的基本情况 召开的日期时间：2025 年 10 月 29 日 10 点 00 分 股东会召开日期：2025年10月29日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (一) 股东会类型和届次 2025年第一次临时股东会 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投 ...

截至2025年10月24日收盘，易德龙(603380)报收于42.5元，上涨3.08%，换手率1.59%，成交量2.55万 手，成交额1.07亿元。 当日关注点 公司公告汇总 苏州易德龙科技股份有限公司2025年第一次临时股东会将审议全资子公司对外提供担保的议案。全资子 公司ELB International Ltd.拟为公司另一全资子公司ETRON-ELB S.DE R.L.DE C.V（墨西哥子公司）的 厂房租赁协议提供担保，担保总责任金额不超过1,300万美元（约人民币9,236.24万元），担保期限覆盖 租赁合同期限10年。同时，ELB将向出租方提供金额为943,345.08美元（约人民币6,702,278.12元）的备 用信用证，相当于二期厂房首年租金。两项担保合计约13,943,345.08美元（约人民币99,064,678.12 元）。墨西哥子公司注册资本10万美元，公司通过全资子公司持股99%。2025年上半年营业收入 1,908.29万元，净利润415.46万元，净资产-1,615.35万元。本次担保旨在支持墨西哥子公司扩产，符合 公司全球化发展战略。 以上内容为证券之星据公开信息整理，由A ...

Group 1 - The core stock price of Yidelong (603380) closed at 42.5 yuan, up 4.22% from last week's 40.78 yuan, with a market cap of 6.819 billion yuan [1] - The highest intraday price reached 42.66 yuan on October 21, while the lowest was 40.55 yuan on October 23 [1] - Yidelong ranks 53rd out of 90 in the consumer electronics sector and 2584th out of 5160 in the overall A-share market [1] Group 2 - Yidelong's wholly-owned subsidiary plans to provide a guarantee of approximately 99,064,678.12 yuan for the lease of a factory in Mexico [1] - The upcoming extraordinary general meeting will review the proposal for the guarantee, which amounts to a maximum of 1.3 million USD (approximately 9.236 million yuan) for a 10-year lease [1] - The subsidiary ELB will also provide a standby letter of credit of 943,345.08 USD (approximately 6.702 million yuan) for the first year's rent, totaling approximately 13.943 million USD (about 99.064 million yuan) in guarantees [1] - The Mexican subsidiary has a registered capital of 100,000 USD, with the company holding 99% through its wholly-owned subsidiary [1] - In the first half of 2025, the Mexican subsidiary reported revenue of 19.0829 million yuan, a net profit of 4.1546 million yuan, and a negative net asset of 1.61535 million yuan [1] - The purpose of the guarantee is to support the expansion of the Mexican subsidiary, aligning with the company's globalization strategy [1]

Core Points - The stock of Yidelong (603380) closed at 42.5 yuan on October 24, 2025, marking a 3.08% increase from the previous trading day, with a total market capitalization of 6.819 billion yuan [1] - The company announced a guarantee for a lease agreement for its wholly-owned subsidiary in Mexico, with a total liability amount not exceeding 13 million USD (approximately 99.06 million yuan) [2] Group 1 - The stock opened at 41.26 yuan, reached a high of 42.6 yuan, and a low of 41.01 yuan, with a trading volume of 1.07 million yuan and a turnover rate of 1.59% [1] - The guarantee period for the lease agreement covers 10 years, and includes a standby letter of credit amounting to 943,345.08 USD (approximately 6.70 million yuan) [2] - The Mexican subsidiary has a registered capital of 100,000 USD, with the company holding 99% of the shares through its wholly-owned subsidiary [2] Group 2 - In the first half of 2025, the company reported an operating income of 19.08 million yuan and a net profit of 4.15 million yuan, with a net asset value of -16.15 million yuan [2] - The purpose of the guarantee is to support the expansion of the Mexican subsidiary, aligning with the company's globalization development strategy [2]

苏州易德龙科技股份有限公司 2、公司董事、高管人员及聘任的股东会见证律师。 会议议程： 一、介绍出席会议的股东人数及其代表的股份总数。 2025 年第一次临时股东会会议资料 | | 目录 | | | --- | --- | --- | | 2025 | 年第一次临时股东会议程 | 3 | | 2025 | 年第一次临时股东会会议须知 | 4 | | 2025 | 年第一次临时股东会议案表决办法 | 5 | | | 议案：关于全资子公司对外提供担保的议案 | 6 | 苏州易德龙科技股份有限公司 2025 年第一次临时股东会议程 现场会议召开时间：2025 年 10 月 29 日 10 时 00 分 现场会议地点：江苏省苏州市相城经济开发区春兴路 50 号苏州易德龙科技 股份有限公司会议室 出席人员： 1、2025 年 10 月 22 日下午交易结束后登记在册的本公司股东及其授权委托 人； 七、宣读表决结果。 八、与会董事、董事会秘书、召集人、会议主持人签署股东会决议。 九、见证律师宣读本次年度股东会法律意见。 十、主持人宣布股东会结束。 二、审议本次股东会议案表决办法。 3 三、逐项审议下列议案： 序 议案名称 ...

Core Viewpoint - Yidelong's stock price has shown significant volatility in 2023, with a year-to-date increase of 75.32%, but a recent decline of 15.37% over the past 20 days, indicating potential market fluctuations and investor sentiment changes [2]. Financial Performance - As of January to June 2025, Yidelong achieved a revenue of 1.171 billion yuan, representing a year-on-year growth of 15.64%, while the net profit attributable to shareholders was 115 million yuan, up 31.06% year-on-year [3]. - The company has distributed a total of 413 million yuan in dividends since its A-share listing, with 224 million yuan distributed over the past three years [4]. Stock Market Activity - On October 21, Yidelong's stock rose by 2.06%, reaching 42.06 yuan per share, with a trading volume of 58.1782 million yuan and a turnover rate of 0.87%, resulting in a total market capitalization of 6.748 billion yuan [1]. - The net inflow of main funds was 1.7233 million yuan, with large orders accounting for 8.19% of purchases and 5.22% of sales [1]. Shareholder Information - As of September 30, 2025, Yidelong had 11,700 shareholders, an increase of 9.35% from the previous period, with an average of 13,712 circulating shares per shareholder, down 8.55% [3]. - Among the top ten circulating shareholders, E Fund Kexun Mixed Fund ranked sixth with 2.1132 million shares, an increase of 146,300 shares from the previous period, while E Fund Kairong Mixed Fund entered as a new shareholder with 1.5616 million shares [4].

Core Points - The stock price of Yidelong has decreased by 2.02% on October 17, trading at 41.23 CNY per share with a market capitalization of 6.615 billion CNY [1] - Yidelong's stock has increased by 71.86% year-to-date, but has seen a decline of 9.42% in the last five trading days and 8.36% in the last twenty days [1] - The company has a primary business focus on providing electronic manufacturing services across various sectors including telecommunications, industrial control, automotive electronics, medical electronics, and consumer electronics [1] Financial Performance - As of September 30, Yidelong reported a total of 11.71 billion CNY in revenue for the first half of 2025, reflecting a year-on-year growth of 15.64%, and a net profit of 1.15 billion CNY, up 31.06% [2] - The company has distributed a total of 4.13 billion CNY in dividends since its A-share listing, with 2.24 billion CNY distributed over the past three years [3] Shareholder Information - As of September 30, the number of Yidelong shareholders increased by 9.35% to 11,700, while the average number of circulating shares per shareholder decreased by 8.55% to 13,712 shares [2] - Notable institutional holdings include Yifangda Kexun Mixed Fund, which is the sixth largest shareholder with 2.1132 million shares, and Yifangda Kairong Mixed Fund, which is a new ninth largest shareholder with 1.5616 million shares [3]

Core Points - The stock price of Yidelong has decreased by 2.02% to 42.67 CNY per share as of October 16, with a market capitalization of 6.846 billion CNY [1] - Yidelong's stock has increased by 77.87% year-to-date, but has seen a decline of 8.51% over the last five trading days [1] - The company has a primary business focus on providing electronic manufacturing services across various sectors including telecommunications, industrial control, automotive electronics, medical electronics, and consumer electronics [1] Financial Performance - As of September 30, Yidelong reported a revenue of 1.171 billion CNY for the first half of 2025, representing a year-on-year growth of 15.64% [2] - The net profit attributable to the parent company for the same period was 115 million CNY, showing a year-on-year increase of 31.06% [2] Shareholder Information - The number of shareholders for Yidelong has increased by 9.35% to 11,700 as of September 30 [2] - The top ten circulating shareholders include Yifangda Kexun Mixed Fund, which increased its holdings by 14.63% to 2.1132 million shares [3] - Yidelong has distributed a total of 413 million CNY in dividends since its A-share listing, with 224 million CNY distributed in the last three years [3]

Group 1 - The company plans to provide a guarantee for its wholly-owned subsidiary, ETRON-ELB S.DE R.L.DE C.V. (the "Mexican subsidiary"), to support its expansion and enhance international operations [2][7] - The total guarantee amount will not exceed $1.3 million (approximately RMB 9.23 million), covering the entire lease term of 10 years [2][7] - A standby letter of credit amounting to $943,345.08 (approximately RMB 6.7 million) will also be provided as part of the guarantee for the first year's rent of the leased factory [2][7] Group 2 - The board of directors approved the guarantee proposal during the seventh meeting of the fourth board on October 13, 2025, and it will be submitted for shareholder approval [3][8] - The company has a net asset of approximately RMB 1.52 billion, with the total amount of external guarantees at RMB 12.06 million, representing 0.79% of the net assets [8][9] Group 3 - The guarantee is deemed necessary for the operational needs of the Mexican subsidiary and aligns with the company's overall strategic interests [7][8] - The company has assessed the financial risks associated with the guarantee and considers them manageable within its control [7][8]