中信证券股份有限公司 的持续督导意见 中信证券股份有限公司（以下简称"中信证券"、"财务顾问"）接受委托，担 任烟台国丰投资控股集团有限公司（以下简称"烟台国丰"、"收购人一"）及其子 公司烟台国泰诚丰资产管理有限公司（以下简称"国泰诚丰"、"收购人二"）豁免 要约收购冰轮环境技术股份有限公司（以下简称"冰轮环境"、"上市公司"）的财 务顾问。依照《中华人民共和国证券法》、《上市公司收购管理办法》（以下简称"《收 购办法》"）、《上市公司并购重组财务顾问业务管理办法》等有关规定，持续督导 期从冰轮环境公告收购报告书至收购完成后的 12 个月止（即从 2024 年 4 月 26 日至 收购完成后的 12 个月止）。 2025 年 4 月 17 日，冰轮环境披露了 2024 年年度报告。结合上述 2024 年年度报 告及日常沟通，中信证券出具了 2024 年年度报告的持续督导意见（以下简称"本意 见"）。 一、交易资产的交付或过户情况 （一）本次豁免要约收购情况 本次收购前，收购人烟台国丰、国泰诚丰未直接持有冰轮环境股份，烟台国丰全 资子公司烟台冰轮控股有限公司（以下简称"冰轮控股"）、烟台国盛投资控股有限 公司 ...

冰轮公众号 抖音官方号 公司地址：山东省烟台市芝罘区冰轮路1号 公司网址：http://www.moon-tech.com 关于本报告 2 董事长致辞 3 2024年可持续发展亮点 4 走进冰轮 5 目录 COMTENTS 1 SECTION 可持续发展（ESG）治理 8 2SECTION 守护地球环境，绿色和谐发展 13 第一节 应对气候变化 13 第二节 能源利用与循环经济 18 第三节 污染物与废弃物管理 20 3SECTION | 担当社会责任 开拓创新未来 | 22 | | --- | --- | | 第一节 员工权益与职业健康 | 22 | | 第二节 产品与服务安全与质量 | 32 | | 第三节 商业道德 | 36 | | 第四节 数据安全与客户隐私保护 | 38 | | 第五节 供应链安全 | 39 | | 第六节 平等对待中小企业 | 41 | | 第七节 创新驱动与科技伦理 | 42 | | 第八节 乡村振兴与社会贡献 | 46 | 报告简介 本报告是冰轮环境技术股份有限公司（以下简称"冰轮环境""公司""我们"）发布的2024年环境、 社会和公司治理 (ESG)报告，旨在向各利益相关方 ...

证券代码：000811 证券简称：冰轮环境 公告编号：2025-011 冰轮环境技术股份有限公司董事会 2025 年 第二次会议（临时会议）决议公告 冰轮环境技术股份有限公司（以下简称"公司"）董事会 2025 年第二次会议 （临时会议）于 2025 年 4 月 29 日以通讯方式召开。会议通知已于 2025 年 4 月 22 日以邮件方式发出。会议应参加表决董事 8 人，实际参加表决董事 8 人，全体监 事收悉全套会议资料。会议由董事长李增群先生召集、主持，会议形成决议如下： 一、审议通过 2025 年第一季度报告 表决情况：同意 8 票，反对 0 票，弃权 0 票；表决结果：通过。 二、审议通过 2024 年度环境、社会和公司治理（ESG）报告，详见巨潮资讯网 （http://www.cninfo.com.cn）。 表决情况：同意 8 票，反对 0 票，弃权 0 票；表决结果：通过。 冰轮环境技术股份有限公司董事会 2025 年 4 月 29 日 ...

冰轮环境技术股份有限公司 2025 年第一季度报告 证券代码：000811 证券简称：冰轮环境 公告编号：2025-012 冰轮环境技术股份有限公司 2025 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.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)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第一季度报告是否经审计 □是 否 1 冰轮环境技术股份有限公司 2025 年第一季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 是 □否 追溯调整或重述原因 □会计政策变更 □会计差错更正 同一控制下企业合并 □其他原因 | | 本报告期 | 上年同期 | | 本报告期比上年同 | | --- | --- | --- | --- | --- | | | | | | 期增减 | | | | 调整前 | 调整后 | ...

| | □特定对象调研 | □分析师会议 | | --- | --- | --- | | 投资者关系 | □媒体采访 | √业绩说明会 | | 活动类别 | □新闻发布会 | □路演活动 | | | □现场参观 | □其他 | | 参与单位名称 及人员姓名 | 投资者 | | | 时间 | 2025 年 4 月 28 日 | | | 地点 | 中证路演中心 | | | 上市公司接 待人员姓名 | 董事长李增群先生，独立董事步延东先生，副总裁、 | 财务总监吴利利女士，董事会秘书孙秀欣先生 | | | 提问 | 活动期间谈论的主要内容如下： 问题内容 | 回答 | 回答内容 | | --- | --- | --- | --- | --- | | | 人 | | 嘉宾 | | | 投资者关系活动 主要内容介绍 | 清风 | 冰轮环境，这个卓越的上市公司是我 | 李增群 | 您好，冰轮有我，有您，有我们大家，为了美好的明天，齐心协力，共同 | | | | 们大家的。作为冰轮环境的职工，有 | | | | | | 股权激励带来的股票，冰轮环境的投 | | | | | | 资人，也坚定的选择投资冰环境。通 | | | ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a revenue of 6.635 billion yuan in 2024, a decrease of 11.48% year-on-year, with a net profit attributable to shareholders of 628 million yuan, down 4.76% [4][5] - The domestic market faced a decline in demand, leading to a 20.53% drop in revenue from the domestic market, while the overseas market saw a revenue increase of 20.95% [5] - The company has a strong technical advantage and has made significant R&D investments, with a new product filling a domestic gap and achieving international leading standards [6] - The company adjusted its revenue forecasts downward due to short-term domestic demand fluctuations but raised profit forecasts based on better-than-expected profit margins [7] Financial Summary - In 2024, the company achieved a gross margin of 27.63% and a net margin of 10.06%, both showing improvements year-on-year [5][10] - The projected revenues for 2025-2027 are 6.935 billion, 7.558 billion, and 8.386 billion yuan, respectively, with corresponding net profits of 662 million, 740 million, and 852 million yuan [7][10] - The diluted EPS for 2025-2027 is projected to be 0.87, 0.97, and 1.12 yuan, respectively, with current P/E ratios of 14, 12, and 11 times [7][10]

欢迎广大投资者积极参与！ 特此公告。 冰轮环境技术股份有限公司董事会 冰轮环境技术股份有限公司（以下简称"公司"）已于 2025 年 4 月 17 日在 巨潮资讯网 （https://www.cninfo.com.cn/）披露了 2024 年年度报告。为便于 广大投资者能更全面地了解公司的经营发展情况，公司将于 2025 年 4 月 28 日（星期一）15:00-16:00 在中证路演中心通过网络互动方式举办 2024 年度业 绩说明会。公司参会人员为董事长李增群先生，独立董事步延东先生，副总裁、 财务总监吴利利女士，董事会秘书孙秀欣先生。 投资者可于 2025 年 4 月 28 日（星期一）15:00-16:00 通过网址中证路演中 心（https://www.cs.com.cn/roadshow/szse/000811/pb251/）或使用微信扫描 下方小程序码在线参与本次业绩说明会，公司将以文字直播方式及时回答投资者 提问。 投资者可于 2025 年 4 月 27 日 17:00 前将相关问题通过电子邮件的形式发 送至本公司邮箱：zqb@moon-tech.com。公司将于 2024 年度业绩说明会上对 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company reported a total revenue of 6.635 billion yuan for 2024, a year-on-year decrease of 11.48%. The net profit attributable to the parent company was 628 million yuan, down 4.76% year-on-year. The net profit excluding non-recurring items was 519 million yuan, a decline of 8.21% year-on-year. However, the revenue decline narrowed in Q4 2024, and the year-end contract liabilities showed a positive growth of 1.9%, marking the first positive growth in the past six quarters, which may support revenue for 2025. The overseas revenue grew by 20.95% year-on-year, accounting for 29.8% of total revenue, indicating successful market expansion [2][6]. Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 6.635 billion yuan, with a year-on-year decline of 11.48%. The net profit attributable to the parent company was 628 million yuan, down 4.76% year-on-year. The net profit excluding non-recurring items was 519 million yuan, a decrease of 8.21% year-on-year. In Q4 2024, the revenue was 1.679 billion yuan, a year-on-year decline of 12.6%, while the net profit attributable to the parent company increased by 71.8% to 154 million yuan [2][6]. Revenue Breakdown - Domestic revenue was 4.656 billion yuan, down 20.53% year-on-year, while overseas revenue reached 1.979 billion yuan, up 20.95% year-on-year, with the overseas market share increasing by 8.0 percentage points [12]. Strategic Outlook - The company has set a strategic theme for 2025 as "Starting with the End in Mind, Standing Tall," focusing on maintaining technological leadership and achieving global breakthroughs. The goal is to ensure revenue and profit growth rates exceed national economic growth rates [12]. Profitability Metrics - The net profit margin for 2024 was 10.06%, an increase of 1.19 percentage points year-on-year. The gross margin was 27.6%, up 2.07 percentage points, primarily due to a 15.06% decrease in direct material costs. The total expense ratio was 18.2%, up 1.14 percentage points year-on-year [12]. Cash Flow and Dividends - The net cash flow from operating activities for 2024 was 721 million yuan, a year-on-year increase of 112%. The total cash dividend for the year was approximately 191 million yuan, with a dividend payout ratio of 30.39% and a dividend yield of about 2.3% [12]. Earnings Forecast - The company is expected to achieve revenues of 7.144 billion yuan, 7.832 billion yuan, and 8.618 billion yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 7.7%, 9.6%, and 10.0%. The net profit attributable to the parent company is projected to be 696 million yuan, 785 million yuan, and 879 million yuan for the same years, with corresponding growth rates of 10.8%, 12.9%, and 12.0% [12].

Core Viewpoint - Ice Wheel Environment announced a 2024 annual distribution plan proposing a 10-for-3 stock split and a cash dividend of 1.5 yuan (including tax) [2] Financial Performance - The company reported a total revenue of 6.635 billion yuan for the year, representing a year-on-year decline of 11.48% [2] - The net profit for the year was 628 million yuan, down 4.76% compared to the previous year [2] - Basic earnings per share were 0.82 yuan, with a weighted average return on equity of 10.96% [2] Market Activity - The stock experienced a net inflow of 1.3454 million yuan from main funds today, with a total net inflow of 15.3331 million yuan over the past five days [3] - The latest margin trading balance for the stock is 504 million yuan, which has decreased by 26.7559 million yuan over the past five days, reflecting a decline of 5.04% [4] Distribution Plan Overview - As of the report, 1,309 companies have announced their 2024 distribution plans, with 98 including stock splits. Among these, 50 saw their stock prices rise on the announcement day, and 46 experienced price increases over the following five days [4] - The distribution plan history for Ice Wheel Environment shows a trend of fluctuating net profits and dividend payouts over the years, with the most recent net profit being 628.09 million yuan, down 4.76% year-on-year [5]

Group 1 - The company announced a 2024 annual distribution plan, proposing a 10-for-3 stock split and a cash dividend of 1.5 yuan (including tax), with a total cash payout of 115 million yuan, accounting for 18.24% of net profit [2][3] - The company reported a revenue of 6.635 billion yuan for the year, a year-on-year decrease of 11.48%, and a net profit of 628 million yuan, down 4.76% year-on-year, with basic earnings per share of 0.82 yuan and a weighted average return on equity of 10.96% [3][4] - The stock experienced a net inflow of 1.3454 million yuan from main funds today, with a total net inflow of 15.3331 million yuan over the past five days [4] Group 2 - The latest margin financing balance for the stock is 504 million yuan, with a decrease of 26.7559 million yuan over the past five days, representing a decline of 5.04% [5] - In the mechanical equipment industry, 115 companies have announced their 2024 distribution plans, with China CNR leading with a cash payout of 6.027 billion yuan, followed by Zoomlion and Zhengzhou Coal Mining Machinery Group with payouts of 2.603 billion yuan and 1.956 billion yuan, respectively [5][6]