公司报告 | 年报点评报告 汽车线束、电力工程盈利提升，培育光芯片及超导业务 | --- | --- | --- | --- | --- | --- | |----------------------------------|----------|----------|----------|----------|----------| | 财务数据和估值 | 2022 | 2023 | 2024E | 2025E | 2026E | | 营业收入 ( 百万元 ) | 4,227.60 | 4,345.06 | 4,996.61 | 5,776.11 | 6,556.10 | | 增长率 (%) | 8.13 | 2.78 | 15.00 | 15.60 | 13.50 | | EBITDA( 百万元 ) | 613.09 | 658.81 | 547.52 | 609.02 | 710.30 | | 归属母公司净利润 ( 百万元 ) | 214.32 | 43.25 | 120.54 | 153.02 | 191.05 | | 增长率 (%) | 77.63 | (79.82) | 178.69 | 26.9 ...

Investment Rating - The report maintains a "Recommended" rating for the company [10][13][16] Core Views - The company achieved a revenue of 4.345 billion yuan in 2023, a year-on-year increase of 2.78%, but the net profit attributable to shareholders decreased by 79.82% to 43.25 million yuan [10][13] - The company is focusing on traditional business areas such as optical communication, overseas power engineering, and automotive wiring harnesses while accelerating the development of high-tech fields like optical chips and high-temperature superconductors [13] - The projected net profits for 2024, 2025, and 2026 are 223 million yuan, 383 million yuan, and 614 million yuan respectively, with corresponding PE ratios of 27X, 16X, and 10X [13] Financial Summary - Total revenue is expected to grow from 4.345 billion yuan in 2023 to 5.217 billion yuan in 2024, with a growth rate of 20.1% [11] - The net profit attributable to shareholders is projected to increase significantly from 43 million yuan in 2023 to 223 million yuan in 2024, reflecting a growth rate of 415% [11] - The company's gross margin for the optical communication segment decreased to 13.34% in 2023, while the automotive wiring harness segment saw an increase in gross margin to 14.21% [13]

| 证券代码：600105 | 证券简称：永鼎股份 | 公告编号：临 | 2024-040 | | --- | --- | --- | --- | | 债券代码：110058 | 债券简称：永鼎转债 | | | 江苏永鼎股份有限公司 关于召开 2023 年度暨 2024 年第一季度业绩暨现金分红 说明会的公告 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。 重要内容提示： 会议召开时间：2024 年 5 月 16 日(星期四) 下午 13:00-14:30 会 议 召 开 地 点 ： 上海证券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 5 月 6 日(星期一) 至 5 月 15 日(星期三)16:00 前登录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 （zqb@yongding.com.cn）进行提问。公司将在说明会上对投 ...

Financial Performance - The company expects a net profit attributable to shareholders of between 70 million and 100 million RMB for 2023, a decrease of 12.607 million to 15.607 million RMB compared to the previous year, representing a year-on-year decline of 56% to 69%[10]. - The net profit attributable to shareholders for 2023 was reported at 43.2503 million RMB, significantly lower than the initial profit warning[10]. - The net profit excluding non-recurring gains and losses for 2023 is reported at 6.8214 million RMB, a decrease of 3.727 million to 5.527 million RMB compared to the previous year, reflecting a decline of 51% to 75%[10]. - The company's operating revenue for 2023 was CNY 4,345,055,940.19, representing a 2.78% increase compared to CNY 4,227,604,437.83 in 2022[25]. - The net profit attributable to shareholders of the listed company decreased by 79.82% to CNY 43,250,293.83 from CNY 214,317,748.35 in the previous year[25]. - The basic earnings per share for 2023 was CNY 0.0308, down 79.47% from CNY 0.15 in 2022[26]. - The cash flow from operating activities for 2023 was CNY 287,384,075.41, a recovery from a negative cash flow of CNY -495,482,081.99 in 2022[25]. - The company's total revenue for the reporting period was 225,915.72 million yuan, with the top five customers accounting for 51.99% of total sales[99]. Dividend and Capital Management - The company plans to distribute a cash dividend of 0.36 RMB per 10 shares (including tax) to all shareholders, based on the total share capital as of the dividend record date[6]. - The company has not implemented a capital reserve transfer to increase share capital for the current year[6]. - The company has not proposed a profit distribution plan for the current year, despite having positive distributable profits, indicating a focus on reinvestment[193]. - The company has established a cash dividend policy that aligns with its operational performance and development plans, ensuring active implementation of profit distribution when conditions permit[192]. Operational Challenges and Risks - The company has faced challenges due to ongoing audits and impairment tests related to its joint venture, which impacted its long-term equity investments and current investment income[10]. - The company has disclosed risks related to industry and market conditions in its management discussion and analysis section[9]. - The company emphasizes that forward-looking statements in the report do not constitute substantive commitments to investors, urging caution regarding investment risks[7]. - The company is actively addressing external risks posed by geopolitical uncertainties and is focusing on new opportunities in "new infrastructure," "new energy," and "new materials" sectors[141]. Research and Development - The company plans to increase its research and development efforts in data intelligence applications and product innovation, particularly in ICT and data security[41]. - The company is focusing on innovation and has established partnerships with universities to enhance research and development capabilities[83]. - Research and development expenses increased by 31.15% to approximately ¥242 million, driven by increased investment in automotive wiring harnesses and optoelectronic industries[90][91]. - The company has applied for a total of 46 patents in the automotive wiring harness sector during the reporting period, including 2 invention patents[106]. Market Expansion and Product Development - The company is expanding its overseas power engineering projects along the Belt and Road Initiative, focusing on total contracting for power generation and transmission projects in countries like Bangladesh and Laos[68]. - The company is expanding its global market presence, particularly in Southeast Asia and East Africa, to support its overseas power engineering projects[86]. - The company has established a comprehensive strategy in the optical communication industry, covering the entire value chain from raw materials to high-end products, including optical fibers and data analysis services[60]. - The company is committed to developing high-value specialty cables and aims to provide comprehensive solutions to meet customer demands[140]. Corporate Governance and Compliance - The company held 1 annual and 3 temporary shareholder meetings during the reporting period, ensuring compliance with legal requirements and protecting shareholder rights[149]. - The board of directors convened 7 meetings, ensuring thorough discussions and independent opinions on significant matters[150]. - The company engaged in over 30 investor and analyst meetings, enhancing communication and transparency with stakeholders[152]. - The company has received a warning letter from the Jiangsu Securities Regulatory Bureau regarding its accounting practices, highlighting the importance of compliance[171]. Employee and Management Structure - The total number of employees across the parent company and major subsidiaries is 3,776, with 534 in the parent company and 3,242 in subsidiaries[183]. - The company has 2,466 production personnel, 260 sales personnel, 575 technical personnel, 88 financial personnel, and 387 administrative personnel, totaling 3,776 employees[184]. - The company has established a multi-level welfare system for employees, including social insurance and supplementary medical insurance, to ensure shared development benefits[186]. - The company has implemented a stock incentive plan, with 134 incentive objects meeting the conditions for unlocking restricted stock, reflecting its commitment to employee performance and retention[181].

江苏采鼎股份有限公司 一、内部控制审计报告 二、资质证书 1. 营业执照(复印件) 2. 执业证书(复印件) 2023年度内部控制 审计报告节 中兴华会计师事务所（持殊普通合伙） ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址：北京市丰台区丽泽路 20 号丽泽 S0H0 Ｂ座 20 层 电话:(010) 51423818 传真:(010) 51423816 目 录 3. 签字注册会计师证书（复印件） 中兴华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP B 座 20 层 (location): 北京市丰台区丽泽路 20 号丽泽 SOHO Tower B,Lize SOHO,20 Lize Road,Fengtai District,Beijing PR China tel) : 010-51423818 传真 (fax): 010-51423816 内部控制审计报告 中兴华内控审计字(2024)第 020016 号 江苏永鼎股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会 ...

江苏永鼎股份有限公司 董事会审计委员会 2023 年度履职情况报告 根据《上市公司治理准则》《上海证券交易所股票上市规则》《上海证券交 易所上市公司自律监管指引第 1 号——规范运作》以及《公司章程》的有关规定， 江苏永鼎股份有限公司（以下简称"公司"）董事会审计委员会本着勤勉尽责的 原则,积极开展工作,认真履行职责,现将公司董事会审计委员会 2023 年度履 职情况报告如下: 一、审计委员会基本情况 公司董事会审计委员会由 2 名独立董事及 1 名董事组成,其中主任委员由具 有专业会计资格的独立董事担任。 根据《上市公司独立董事管理办法》第五条的规定,审计委员会成员应当为 不在上市公司担任高级管理人员的董事。公司于 2024年 1 月 15 日召开第十届董 事会 2024年第一次临时会议,审议通过了《关于调整公司第十届董事会审计委 员会委员的议案》,鉴于公司董事会审计委员会委员张国栋先生担任公司副总经 理、董事会秘书,调整公司董事会审计委员会委员为莫思铭先生。调整后的公司 第十届董事会审计委员会由独立董事蔡雪辉先生、韩坚先生及董事莫思铭先生组 成,其中会计专业人士蔡雪辉先生担任主任委员。 公司董事会审计委员 ...

根据《上市公司独立董事管理办法》、《上海证券交易所股票上市规 则》、《上海证券交易所上市公司自律监管指引第1号 -- 规范运作》等要求, 江苏永鼎股份有限公司(以下简称"公司")董事会,就公司在任独立董事蔡雪 辉、韩坚的独立性情况进行评估并出具如下专项意见: 江苏永鼎股份有 江苏永鼎股份有限公司 经核查公司全体独立董事的任职经历以及签署的相关自查文件,报告期内 公司独立董事未在公司担任除独立董事以外的任何职务,不存在任何妨碍其进 行独立客观判断的关系,亦不存在影响独立董事独立性的情况,因此,公司独 立董事符合《上市公司独立董事管理办法》、《上海证券交易所上市公司自律 监管指引第1号 -- 规范运作》等法律法规及《公司章程》中关于独立董事的任 职资格及独立性的要求。 董事会关于独立董事独立性情况的专项意见 ...

证券代码：600105 证券简称：永鼎股份 公告编号：临 2024-032 债券代码：110058 债券简称：永鼎转债 江苏永鼎股份有限公司 （一）投资目的 为提高闲置资金使用效率，在保证公司日常经营资金需求和资金安全的前提 下，合理利用闲置资金进行投资理财，增加资金收益，为公司和股东获取良好的 投资回报。 关于使用闲置自有资金购买理财产品的公告 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。 重要内容提示： 投资种类：安全性高、流动性好、投资期限不超过 1 年（含 1 年）的低 风险理财产品。 投资金额：总额度不超过 5 亿元人民币，期限自公司董事会审议通过之 日起 12 个月内有效，在使用期限内资金额度可以滚动使用。 已履行的审议程序：江苏永鼎股份有限公司（以下简称"公司"）于 2024 年 4 月 25 日召开第十届董事会第六次会议及第十届监事会第六次会议，审议通 过了《关于使用闲置自有资金购买理财产品的议案》，该事项在董事会的审批权 限范围内，无需提交公司股东大会审议。 特别风险提示：公司及下属子公司本次使用闲置 ...

江苏采鼎股份有限公司 2023年度财务报告非标准审计意见的 专项说明 江苏永鼎股份有限公司全体股东: 我们接受委托,对江苏永鼎股份有限公司(以下简称"永鼎股份")2023年 度财务报表进行了审计,并于 2024年4月 25 日出具了带强调事项段的无保留意 见审计报告(报告编号:中兴华审字(2024)第 021222 号)。根据中国证券监督 管理委员会《公开发行证券的公司信息披露编报规则第 14 号 -- 非标准审计意见 及其涉及事项的处理》、《监管规则适用指引-审计类第 1 号》和《上海证券交易 所股票上市规则》的相关要求,就相关事项说明如下: 一、审计报告中带有强调事项段所涉及事项 如审计报告三、"强调事项段"所述: 中共华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址：北京市丰台区丽泽路 20 号丽泽 SOHO Ｂ座 20 层 电话: (010) 51423818 传真:(010) 51423816 中兴华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANIS LLP ...

江苏永鼎股份有限公司 章 程 二〇二四年 目 录 | 第一章 | 总则 | | --- | --- | | 第二章 | 经营宗旨及范围 | | 第三章 | 股份 | | 第一节 | 股份发行 | | 第二节 | 股份增减和回购 | | 第三节 | 股份转让 | | 第四章 | 股东和股东大会 | | 第一节 | 股东 | | 第二节 | 股东大会的一般规定 | | 第三节 | 股东大会的召集 | | 第四节 | 股东大会的提案与通知 | | 第五节 | 股东大会的召开 | | 第六节 | 股东大会的表决和决议 | | 第五章 | 董事会 | | 第一节 | 董事 | | 第二节 | 董事会 | | 第六章 | 总经理及其他高级管理人员 | | 第七章 | 监事会 | | 第一节 | 监事 | | 第二节 | 监事会 | | 第八章 | 财务会计制度、利润分配和审计 | | 第一节 | 财务会计制度 | | 第二节 | 内部审计 | | 第三节 | 会计师事务所的聘任 | | 第九章 | 通知与公告 | | 第一节 | 通知 | | 第二节 | 公告 | | 第十章 | 合并、分立、增资、减资、解散和清算 | ...