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唐山冀东装备工程股份有限公司(以下简称“冀东装备”,股票代码000856)是一家深交所主板上市公司。是2011年由冀东发展集团公司所属的唐山盾石机械有限责任公司、唐山盾石建筑工程有限责任公司、唐山盾石筑炉工程有限责任公司和唐山盾石电气有限责任公司的资产置入唐山陶瓷股份公司后,成立的上市公司。资产置入上市也就是股民俗称的借壳*ST唐陶上市。

冀东装备经营范围涉及资本运营;水泥机械设备及配件、普通机械设备及配件制造、销售;成套设备销售;经营企业自产产品和技术进出口业务、企业所需原辅材料;机电机械设备研发设计、安装维修及技术咨询;计算机及辅助设备销售安装及计算机系统服务;工程技术咨询和工程建设项目管理;土建安装工程施工;电气设备销售;矿山工程施工;冶金机械设备制造等业务。

营收净利双降股东户数激增

2025年3月27日,冀东装备披露2024年报显示,去年公司实现营业总收入24.95亿元,实现归母净利润2186万元,同比下降28.72%;扣非净利润763.1万元,同比下降65.63%。其中机械设备及备件收入10.79亿,营收占比约40%;土建安装和矿山工程及恢复绿化分别收入4.93亿和4.86亿,两项营收占比约40%;维修工程营收3.51亿,营收占比约15%左右。

值得一提的是,与业绩下滑形成鲜明对比的则是股东人数大幅上升。截至2025年2月28日,冀东装备股东户数6.05万,较2024年12月31日增加3.28万户,增幅为118.32%。户均持股数量由上期的8186股减少至3749股。公司股价由2025年1月15日7.3元攀升到2025年2月21日最高17.66元,在一个月多时间内暴涨约1.5倍。公司在此期间连续四次发布股票交易异常波动公告,澄清公司申请加入的“北京人形机器人产业联盟”尚未在民政部门团体登记,公司与参股子公司尚未在人形机器人领域布局或对外开展合作,未来是否开展相关布局及合作存在不确定性。股价于最后一次发布股票交易异常波动公告两天后见顶,并在随后的交易中股价逐步下降,股价于3月28日收于10.93元。

股票价格起伏,本就是股票最基本的特征,但从冀东装备历年公开披露信息显示,该公司的情况也是A股市场的一小部分非典型上市公司特征,存在着诸多待解和需要明确的问题。

关联交易占比高上市13年未分红

随年报一起披露的还有冀东装备预计2025年与控股股东关联交易金额预计25.5亿元,其中采购3.06亿元,销售22.44亿元。年报披露2024年冀东装备关联交易金额18.53亿元,其中采购2.13亿元,销售16.4亿元,而公司2024年营业收入为24.95亿元。结合国内未来建筑市场的现实情况,冀东装备与控股股东及其控股子公司关联交易额几乎和24年营业收入相当。

在业内人士看来,30%是关联交易的红线,虽然关联交易占比超过30%并不必然形成公司的发展障碍,但前提是不存在利益输送或者对关联方重大依赖,不影响公司的经营独立性。

随着冀东装备股价在今年2月份的快速上涨,市场关注度越来越高。有媒体和投资者注意到冀东装备自2011年借壳上市以来至今未分红的实际问题,公司有无可能在监管部门关于上市公司分红不达标新规下被ST的情况。2025年4月10日,公司召开了2024年度业绩说明会,冀东装备在回应媒体和投资者上述问题时称:“截至2024年末,公司累计未分配利润为负值,因此不会因分红不达标而触发“新国九条”退市,也不会因分红不达标而被列入ST股。”

关联房屋租赁年700余万元控股股东子公司业务高度重合

值得关注的是,成立于2012年6月的唐山冀东发展机械设备制造有限公司,控股股东为冀东发展集团,其经营范围和上市公司冀东装备的经营范围高度重合,而通过查阅相关披露信息并没有看到相关的披露。那么上市公司冀东装备和控股股东全资子公司唐山冀东发展机械设备有限公司有没有违反证监会关于上市公司的同业竞争相关规定?披露信息显示,冀东装备2025年租用控股股东房屋租赁费关联交易额700余万元,与冀东装备2024年扣非净利润几乎相当。而2011年上市,2012年紧接着成立经营范围相近新子公司,又是出于何种经营战略思考?

日前,本刊就营收净利双降、股东户数激增、关联交易占比高、控股股东子公司业务高度重合等关键问题向冀东装备发去了采访函,截至发稿前,冀东装备方面尚未给出明确回应。

随着国家对股市建设提出了更高的要求,新一届证监会相继出台很多监管新规完善和规范上市公司的管理,以适应新形势下的新要求,更好地促进股市健康发展,更充分地保护投资者的利益。但连续不分红,上市以来净利润为负的冀东装备却迎来机遇,在2017年和2025年迎来两次高涨。

  油价大跌,此前据报道,一些OPEC+成员将寻求加速增产。

  WTI原油期货一度下跌4.3%,至每桶62美元左右。这加剧了先前的压力,此前报道称哈萨克斯坦新任命的能源部长表示,该国无法减少其三个最大项目的产量,因为它们由国际石油巨头控制。

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