中控技术股份有限公司2025 年第一季度报告 证券代码：688777 证券简称：中控技术 中控技术股份有限公司 2025 年第一季度报告 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、准确性和完整性依法承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 上年同期 | 本报告期比上 | | --- | --- | --- | --- | | | | | 年同期增减变 | | | | | 动幅度(%) | | 营业收入 | 1,607,199,080.04 | 1,738,464,204.72 | -7.55 | | 归属于上市公司股东的净利润 | 120,092,771.78 | 145 ...

证券代码：688777 证券简称：中控技术 公告编号：2025-015 中控技术股份有限公司 2024年年度股东大会决议公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 4 月 22 日 （二） 股东大会召开的地点：浙江省杭州市滨江区六和路 309 号中控科技园公 司会议室 （三） 出席会议的普通股股东持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 377 | | --- | --- | | 普通股股东人数 | 377 | | 2、出席会议的股东所持有的表决权数量 | 218,749,002 | | 普通股股东所持有表决权数量 | 218,749,002 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比例 | 27.8408 | | （%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 27.8408 | （四） 表决方式是否符合《公司法》及公司章程的规 ...

截至2025年4月18日收盘，中控技术（688777）报收于47.67元，较上周的48.56元下跌1.83%。本周，中控技术4月14日盘中最高价报49.48元。4月 16日盘中最低价报46.94元。中控技术当前最新总市值376.87亿元，在自动化设备板块市值排名3/79，在两市A股市值排名352/5146。 问：2024年中控技术在新兴行业开拓方面有什么成果答：2024年公司着力挖掘了油气、煤矿、白酒行业。油气行业实现 8.85亿收入，白酒行业新 签订单突破 2亿，智慧煤矿业务实现 0到 1的突破。 问：公司超图大模型 HGT是一款什么类型的大模型产品？其具体的使用场景及技术特点是什么？答：超图大模型 HGT 是一款融合了开源大语言 模型及自研图注意力模型的超图模型，具有四大核心技术及三大核心应用场景。 问：2024年公司海外业务的布局和进展如何？答：2024年公司海外业务收入 7.49 亿元，同比增长118.27%，新签海外合同 13.55亿元，与沙特阿 美、印尼国家石油 Pertamina等国际顶尖客户建立了深度合作关系。 问：2024年公司机器人业务有什么进展？答：2024年公司机器人业务实现收入 5, ...

中控技术688777 时间: 2025年4月18日星期五 36.05分综合得分 偏弱 趋势方向 主力成本分析 47.67 元 当日主力成本 47.96 过去一年内该股 元 5日主力成本 元 50.33 60日主力成本 周期内涨跌停 元 20日主力成本 54.08 涨停 0次 跌停 0 次 北向资金数据 | 持股量3804.43万股 | 占流通比4.88% | | --- | --- | | 昨日净买入-46.35万股 | 昨日增仓比-0.06% | | 5日增仓比-0.08% | 20日增仓比-0.678% | 技术面分析 48.56 44.63 中期支撑位 股价跌破短期支撑位，短线观望为宜； 目前中期趋势不慎明朗，静待主力资金选择方向 K线形态 ★十字星★ 有转向意味,注意股价位置在顶部还是底部 资金流数据 短期压力位 47.85 短期支撑位 55.33 中期压力位 2025年04月18日的资金流向数据方面 | 主力资金净流出26.03万元 | | --- | | 占总成交额0% | | 超大单净流入556.99万元 | | 大单净流出583.03万元 | | 散户资金净流入96.23万 | 关联行业/概念 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [4][6]. Core Insights - The company achieved steady growth in revenue and profit, with operating cash flow significantly improving. In 2024, the company reported revenue of 9.139 billion yuan, a year-on-year increase of 6.02%, and a net profit attributable to shareholders of 1.117 billion yuan, up 1.38% year-on-year [1][4]. - The company is increasing its investment in AI technology, with R&D expenses reaching 978 million yuan, a 7.73% increase, accounting for 10.70% of revenue. The launch of innovative products like the UCS universal control system and TPT industrial model has been highlighted [2][4]. - The company is accelerating its international market expansion, with overseas revenue growing by 118.27% year-on-year to 749 million yuan, representing approximately 8.25% of total revenue. The company has established 21 subsidiaries in various countries and signed overseas contracts worth 1.355 billion yuan, a growth of over 35% [3][4]. Financial Performance Summary - The company forecasts revenue for 2025-2027 to be 10.265 billion, 11.501 billion, and 12.843 billion yuan, respectively, with net profits projected at 1.245 billion, 1.432 billion, and 1.677 billion yuan. The expected EPS for the same period is 1.57, 1.81, and 2.12 yuan per share, with corresponding P/E ratios of 30.04, 26.10, and 22.29 [4][7]. - The operating cash flow for 2024 was reported at 434 million yuan, a significant increase of 126.69% year-on-year, indicating improved operational efficiency [1][4].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [6][4]. Core Insights - The company achieved steady growth in revenue and profit, with operating cash flow significantly improving. In 2024, the company reported revenue of 9.139 billion yuan, a year-on-year increase of 6.02%, and a net profit attributable to shareholders of 1.117 billion yuan, up 1.38% year-on-year [1][4]. - The company is increasing its investment in AI technology, with R&D expenses reaching 978 million yuan, a 7.73% increase, accounting for 10.70% of revenue. The launch of innovative products like the UCS universal control system and TPT industrial model has been highlighted [2][4]. - The company is accelerating its international market expansion, with overseas revenue growing by 118.27% year-on-year to 749 million yuan, representing approximately 8.25% of total revenue. The company has established 21 subsidiaries in various countries and signed overseas contracts worth 1.355 billion yuan, a growth of over 35% [3][4]. Financial Performance Summary - The company forecasts revenue for 2025-2027 to be 10.265 billion, 11.502 billion, and 12.843 billion yuan, respectively, with net profits projected at 1.245 billion, 1.432 billion, and 1.677 billion yuan. The expected EPS for the same period is 1.57, 1.81, and 2.12 yuan per share, with corresponding P/E ratios of 30.04, 26.10, and 22.29 [4][8].

Investment Rating - The investment rating for the company is maintained at "Buy-A" [4] Core Views - The company achieved a steady revenue growth of 6.02% year-on-year, reaching 9.139 billion yuan in total revenue for 2024, with a net profit of 1.117 billion yuan, reflecting a growth of 1.38% [1] - The company is focusing on industrial AI and robotics, leveraging its extensive industrial data and control systems to innovate and enhance operational efficiency [10][11] - The company plans to distribute a cash dividend of 7.10 yuan per 10 shares, totaling approximately 558 million yuan, which constitutes 49.94% of the net profit attributable to shareholders [3] Financial Performance - The company reported a net cash flow from operating activities of 434 million yuan, a significant increase of 126.69% compared to the previous year, attributed to optimized sales and procurement contracts [2] - The company’s R&D investment reached 978 million yuan, an increase of 7.73% year-on-year, with R&D personnel accounting for 39.05% of the total workforce [2] - The company’s core product, the Distributed Control System (DCS), holds a market share of 40.4% in China, maintaining its leading position for 14 consecutive years [3] Industry Trends - The petrochemical and chemical industries showed stable revenue growth, with increases of 10.59% and 5.89% respectively, while the oil and gas sector saw a remarkable growth of 47.84% [2] - The company’s international business strategy has led to a doubling of overseas revenue, which reached 749 million yuan, marking a year-on-year growth of 118.27% [4][9] - The company has established a robotics product business system, generating revenue of 56.01 million yuan and signing new orders worth 167 million yuan [10]

Core Viewpoint - The company reported a revenue of 9.139 billion yuan for 2024, a year-on-year increase of 6.02%, and a net profit attributable to shareholders of 1.117 billion yuan, a slight increase of 1.38% year-on-year [1] Group 1: Financial Performance - In Q4 2024, the company achieved a revenue of 2.802 billion yuan, a decrease of 4.73% year-on-year, and a net profit of 400 million yuan, down 1.98% year-on-year [1] - The company's gross profit margin for 2024 reached 33.86%, an increase of 0.68 percentage points compared to the previous year, driven by strategic adjustments and the divestment of low-value-added businesses [2] - The company’s net profit after excluding GDR exchange gains was 1.092 billion yuan, a year-on-year increase of 9.60%, while the non-net profit reached 1.012 billion yuan, up 20.26% year-on-year [2] Group 2: Business Segments - The industrial automation and intelligent manufacturing products benefited from control system equipment updates, with control systems generating revenue of 3.733 billion yuan, a year-on-year increase of 7.87%, and industrial software revenue reaching 2.653 billion yuan, up 20.70% [2] - The petrochemical and chemical sectors saw revenue growth of 10.59% and 5.89% respectively, while the oil and gas sector experienced a significant revenue increase of 47.84% [2] Group 3: International Expansion - The company’s overseas business generated revenue of 749 million yuan, a year-on-year increase of 118.27%, accounting for approximately 8.25% of total revenue [3] - The company established 21 subsidiaries in various countries and signed overseas contracts worth 1.355 billion yuan, a growth of over 35% year-on-year [3] Group 4: Technological Advancements - The company launched its first time-series large model TPT in June 2024, achieving significant applications in over 40 clients, enhancing system self-control rates above 95% and improving efficiency by over 50% [4] - The robotics business line generated revenue of 56 million yuan, with new orders totaling 167 million yuan, marking a breakthrough in international high-end clients [4] Group 5: Investment Outlook - The company is positioned as a leader in the domestic process industry and is rapidly expanding into overseas markets, which is expected to drive sustained performance growth [5]

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company achieved a revenue of 9.139 billion yuan in 2024, representing a year-on-year growth of 6.02%. The net profit attributable to the parent company was 1.092 billion yuan, up 9.60% year-on-year, while the net profit excluding GDR exchange losses grew by 20.26% to 1.012 billion yuan [1] - The company's market share in core products, particularly DCS, has increased, with a domestic market share of 40.4% in 2024, up 2.6 percentage points from the previous year. In the chemical sector, the DCS market share reached 62.6%, an increase of 6.3 percentage points, and in the petrochemical sector, it reached 56.2%, up 6.9 percentage points [1] - The company has seen steady revenue growth in the chemical and petrochemical sectors, with revenues of 3.366 billion yuan and 1.854 billion yuan respectively, and notable growth in the pharmaceutical and food sectors, which saw a revenue increase of 17.38% to 741 million yuan. The oil and gas sector, a new focus area, achieved a revenue of 885 million yuan, growing by 47.84% [1] - The international business is progressing well, with export revenue accounting for 8.25% of total revenue, a growth of 118.27% year-on-year. The company has established a robotics product business system, generating revenue of 56.01 million yuan and securing new orders worth 167 million yuan [1] Financial Summary - The total revenue for 2023 was 8.620 billion yuan, with a projected increase to 10.025 billion yuan in 2025, reflecting a growth rate of 9.7% [2] - The net profit attributable to the parent company for 2023 was 1.102 billion yuan, expected to rise to 1.275 billion yuan by 2025, indicating a growth rate of 14.2% [2] - The gross margin for 2024 is projected at 33.9%, slightly up from 33.2% in 2023, while the return on equity (ROE) is expected to be 10.8% in 2024, increasing to 14.5% by 2027 [2] - The earnings per share (EPS) for 2023 was 1.39 yuan, with projections of 1.61 yuan in 2025 and 2.32 yuan in 2027 [2] Market Position - The company maintains a leading position in the DCS market across various sectors, ranking first in the chemical, petrochemical, building materials, and paper industries [1] - The SIS market share reached 31.2% in 2024, marking the third consecutive year of being the domestic leader [1]