郑州煤矿机械集团股份有限公司 Zhengzhou Coal Mining Machinery Group Co., Ltd. 证券代码：601717 证券简称：郑煤机 公告编号：临 2024-051 郑州煤矿机械集团股份有限公司 关于收购控股子公司部分股权暨关联交易的公告 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法律责任。 郑州煤矿机械集团股份有限公司 Zhengzhou Coal Mining Machinery Group Co., Ltd. 一、关联交易概述 （一）本次交易的基本情况 2024 年 12 月 13 日，公司召开第六届董事会第十次会议、第六届监事会第 九次会议，审议通过了《关于收购控股子公司亚新科工业技术（南京）有限公司 部分股权暨关联交易的议案》，同意公司使用自有资金 698,985,650.96 元（含税 金额）收购控股子公司亚新科南京的其他股东所持有的亚新科南京合计 16.6081% 股权（对应亚新科南京注册资本为 238,989,107 元），本次交易完成后，公司持有 亚新科南京的股权比例将由 83.3 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 鄭州煤礦機械集團股份有限公司 呈交日期: 2024年12月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00564 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 243,234,200 | RMB | | 1 | RMB | | 243,234,200 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 243,234,200 | RMB | | | 1 RMB | | 243,234,200 | | ...

证券代码：601717 证券简称：郑煤机 公告编号：2024-048 郑州煤矿机械集团股份有限公司 本公司董事会、全体董事及相关股东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。 重要内容提示： 1 大股东持股的基本情况：本次减持计划实施前，泓羿投资管理（河南）合伙 企业（有限合伙）（以下简称"泓羿投资"）持有郑州煤矿机械集团股份有限 公司（以下简称"公司"）股份 277,195,419 股，占公司总股本的 15.52%； 其一致行动人河南资产管理有限公司（以下简称"河南资产"）持有公司股 份 77,854,357 股，占公司总股本的 4.36%。泓羿投资与河南资产签署了《一 致行动协议书》，为一致行动人，合计持有公司 19.88%股份，为公司控股股 东。泓羿投资持有的公司股份为协议转让取得；河南资产持有的公司股份为 竞价交易取得。该部分股份均为无限售条件流通股。 减持计划的主要内容：公司于 2024 年 7 月 29 日披露《郑州煤矿机械集团股 份有限公司股东减持股份计划公告》（公告编号：2024-035），泓羿投资计划 自本公告披露日起 15 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index within the next six months [1][17]. Core Insights - The company's revenue for the first three quarters of 2024 reached 27.839 billion yuan, a year-on-year increase of 2.20%, while the net profit attributable to shareholders was 3.059 billion yuan, reflecting a significant growth of 23.97% [1]. - The coal machinery segment remains the primary source of profit, with a revenue of 14.527 billion yuan in the first three quarters, up 2.5% year-on-year [1]. - The automotive parts business is transitioning towards new energy, with a notable increase in revenue from related products, indicating potential for becoming a second growth curve for the company [3]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved a gross margin of 24.02%, an increase of 2.15 percentage points year-on-year, and a net profit margin of 11.91%, up 2.22 percentage points [1]. - The company’s operating income is projected to grow steadily, with forecasts of 38.677 billion yuan, 41.252 billion yuan, and 44.058 billion yuan for 2024, 2025, and 2026 respectively [4][12]. Market Trends - The fixed asset investment growth in the coal mining and washing industry was 5.5% from January to September 2024, with a slight increase in commodity coal consumption [2]. - The automotive market is recovering, with a total vehicle sales increase of 2.4% year-on-year, and a significant rise in new energy vehicle sales by 32.53% [3]. Cost Management - The report highlights a decrease in material costs and an optimization of product structure, contributing to improved profitability [1]. - The company has effectively reduced its expense ratios across sales, management, R&D, and financial costs, leading to a total expense ratio decrease of 0.86 percentage points year-on-year [1]. Future Outlook - The company is expected to maintain a robust growth trajectory, with a projected PE ratio of 5.99X for 2024, indicating a favorable valuation compared to peers [4][15]. - The ongoing push for intelligent coal mining solutions is anticipated to enhance market share, particularly in hydraulic supports, which are critical components in coal machinery [1].

郑州煤矿机械集团股份有限公司投资者关系活动记录表 证券代码：601717 证券简称：郑煤机 | --- | --- | --- | --- | |--------------------------------------|---------------------------------------------------------------------------------------|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

[Table_MainInfo] 公司研究/机械工业/重型机械 证券研究报告 郑煤机（601717）公司季报点评 2024 年 10 月 31 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | --- | |-------------------------------------------------------------|-------------| | 股票数据 | | | 10 [ Table_StockInfo 月 30 日收盘价（元） ] | 13.03 | | 52 周股价波动（元） | 10.62-18.10 | | 总股本 / 流通 A 股（百万股） | 1785/1542 | | 总市值 / 流通市值（百万元） | 23264/23264 | | 相关研究 | | | [Table_ReportInfo] 《煤机高景气延续，汽零加速新能源转型》 | | | 2024.09.01 | | | 《煤机板块迈入新阶段，汽零转型初见成效》 | | | 2024.05.30 | | | 《煤机业务持续繁荣，汽零转型未来可期》 | | | 2024.04.06 市 ...

郑州煤矿机械集团股份有限公司 Zhengzhou Coal Mining Machinery Group Co., Ltd. 证券代码：601717 证券简称：郑煤机 公告编号：临 2024-047 郑州煤矿机械集团股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 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法律责任。 重要内容提示： 一、说明会类型 郑州煤矿机械集团股份有限公司（以下简称"公司"）已于 2024 年 10 月 29 日在上海证券交易所网站（www.sse.com.cn）披露了《2024 年第三季度报告》。 为便于广大投资者更加全面深入地了解公司 2024 年前三季度经营成果、财务状 况等情况，公司计划于 2024 年 11 月 06 日（星期三）15:00-16:00 在"价值在线" 1 （三）会议召开方式：网络互动方式 三、参加人员 （网址：www.ir-online.cn）举办 2024 年第三季度业绩说明会，与投资者进行沟 通和交流，广泛听取投资者的意见和建议。 会议召开时间：2024 年 11 月 ...

Investment Rating - The report maintains a "Buy" rating for Zheng Coal Machinery (601717) [1] Core Views - The company's profitability continues to improve, with profit growth exceeding expectations. For the first three quarters of 2024, the company achieved operating revenue of 27.84 billion yuan, a year-on-year increase of 2.2%, and a net profit attributable to shareholders of 3.06 billion yuan, a year-on-year increase of 24.0% [1][2] - The coal machinery segment is the main contributor to profit growth, with revenue of 14.53 billion yuan, up 2.5% year-on-year, and net profit of 3.14 billion yuan, up 25.9% year-on-year. The growth is attributed to product structure optimization and a decrease in material costs [2] - The automotive parts transformation is progressing, with revenue of 13.32 billion yuan, up 1.8% year-on-year, and a significant improvement in profitability. The company is focusing on expanding its presence in the passenger vehicle market and accelerating the electrification transformation of its automotive parts segment [3] Summary by Sections Financial Performance - For Q1-Q3 2024, the company reported operating revenue of 27.84 billion yuan, with a net profit of 3.06 billion yuan. The Q3 revenue was 8.90 billion yuan, down 1.5% year-on-year, while net profit was 0.90 billion yuan, up 14.1% year-on-year. The company maintained a good expense control with a period expense ratio of 10.6% [1][3] - The gross margin for Q1-Q3 was 24.0%, up 2.2 percentage points year-on-year, and the net profit margin was 11.9%, also up 2.2 percentage points year-on-year [1] Segment Analysis - The coal machinery segment's revenue and profit growth are driven by high-margin products and a stable increase in overall revenue. The intelligent control systems for coal mining are leading in the market, contributing to the industry's transformation and high-quality development [2] - The automotive parts segment saw revenue growth driven by the rapid increase in shock absorber sealing systems, with a focus on expanding into the new energy vehicle market, which is experiencing significant growth [3] Profit Forecast and Investment Suggestion - The company is expected to achieve net profits of 3.87 billion yuan, 4.20 billion yuan, and 4.56 billion yuan for 2024, 2025, and 2026, respectively, with a projected compound annual growth rate of 12% in net profit over the next three years. The current price-to-earnings ratios are 6.2, 5.7, and 5.3 for the respective years [3][5]

Investment Rating - The report maintains a **Buy** rating for the company with a target price of **18.92 RMB** [2][4] Core Views - **24Q3 revenue slightly declined by 1.5% YoY**, but net profit attributable to shareholders increased by **14.1% YoY** to **8.97 billion RMB** [1] - **Gross margin improved to 23.9%**, up by **2.56 percentage points YoY**, and net profit margin increased to **10.1%**, up by **1.38 percentage points YoY** [1] - **Coal machinery segment** saw a **25.69% YoY increase in net profit** to **29.84 billion RMB**, driven by optimized product mix and lower material costs [1] - **Automotive components segment** revenue grew by **1.84% YoY** to **133.30 billion RMB**, but net profit declined by **19.98% YoY** to **0.75 billion RMB** [1] - **Yaxing Group** (a subsidiary) achieved a **21.42% YoY revenue growth** to **38.64 billion RMB**, while **SEG** (another subsidiary) saw a **5.57% YoY revenue decline** to **93.75 billion RMB** due to reduced sales in the European market [1] Financial Forecasts - **2024-2026 net profit forecasts** are **36.4 billion RMB**, **39.4 billion RMB**, and **44.2 billion RMB**, respectively [2] - **EPS forecasts** for 2024-2026 are **2.04 RMB**, **2.20 RMB**, and **2.48 RMB**, respectively [2] - **Revenue growth** is expected to be **1.7% in 2024**, **5.7% in 2025**, and **8.4% in 2026** [3] - **Net profit growth** is projected at **11.2% in 2024**, **8.1% in 2025**, and **12.4% in 2026** [3] - **Gross margin** is forecasted to be **23.6% in 2024**, **23.1% in 2025**, and **23.4% in 2026** [3] Valuation and Performance - The company is valued at **8.6x PE for 2025**, with a target price of **18.92 RMB** [2] - **52-week high/low prices** are **17.11 RMB** and **10.61 RMB**, respectively [4] - **Market capitalization** is **23.73 billion RMB** [4] - **Absolute performance** over the past 12 months is **9.51%**, while **relative performance** against the CSI 300 is **-0.66%** [4] Segment Performance - **Coal machinery segment** contributed **145.27 billion RMB** in revenue for 24Q1-3, with a **2.50% YoY growth** [1] - **Automotive components segment** contributed **133.30 billion RMB** in revenue for 24Q1-3, with a **1.84% YoY growth** [1] Financial Ratios - **ROE** is expected to be **17.0% in 2024**, **16.6% in 2025**, and **16.9% in 2026** [3] - **Net profit margin** is forecasted to be **9.8% in 2024**, **10.1% in 2025**, and **10.4% in 2026** [3] - **P/E ratio** is **6.5x for 2024**, **6.0x for 2025**, and **5.4x for 2026** [3]

Revenue and Profit Performance - Revenue for the third quarter was RMB 8,896,382,747.87, a decrease of 1.48% year-over-year[2] - Net profit attributable to shareholders of the listed company was RMB 897,179,793.38, an increase of 14.14% year-over-year[2] - The coal machinery segment's revenue for the first nine months was RMB 1,452,657.39 million, an increase of 2.50% year-over-year[8] - The automotive parts segment's revenue for the first nine months was RMB 1,332,991.99 million, an increase of 1.84% year-over-year[8] - Net profit for the coal machinery segment was RMB 313,633.38 million, an increase of 25.90% year-over-year[8] - Net profit for the automotive parts segment was RMB 17,911.68 million, an increase of 20.32% year-over-year[9] - Total operating revenue increased by 595.82 million yuan (2.19%) year-over-year, driven by a 354.58 million yuan (2.5%) increase in the coal machinery sector and a 241.24 million yuan (1.84%) increase in the automotive parts sector[10] - Yaxing's total revenue reached 3.86 billion yuan, a 21.42% year-over-year increase, primarily due to rapid growth in vibration damping and sealing system-related businesses[10] - SEG's revenue decreased by 5.57% year-over-year to 9.37 billion yuan, mainly due to reduced sales in the European market[10] - Net profit increased by 675.41 million yuan (25.58%) year-over-year, with the coal machinery sector contributing 645.17 million yuan (25.90%) due to optimized income structure and lower material costs[10] - Net profit attributable to the parent company increased by 591.38 million yuan (23.97%) year-over-year, mainly driven by the coal machinery sector[10] - Total operating revenue for the first three quarters of 2024 reached 27.86 billion yuan, a 2.2% increase compared to 27.26 billion yuan in the same period of 2023[18] - Net profit attributable to the parent company's shareholders in the first three quarters of 2024 was 3.06 billion yuan, up 24% from 2.47 billion yuan in the same period of 2023[20] - Total profit for the first three quarters of 2024 was 4.00 billion yuan, a 27% increase from 3.15 billion yuan in the same period of 2023[19] - Total revenue for the first three quarters of 2024 reached 9,901,375,982.93 RMB, a slight increase from 9,811,109,113.06 RMB in the same period of 2023[29] - Net profit for the first three quarters of 2024 was 3,479,750,203.45 RMB, up from 2,687,264,919.95 RMB in the same period of 2023[29] Cash Flow and Financial Position - Net cash flow from operating activities for the first nine months was RMB 2,353,779,343.50, an increase of 93.20% year-over-year[2] - Total assets as of the end of the reporting period were RMB 48,952,955,597.94, a decrease of 0.45% compared to the end of the previous year[3] - Equity attributable to shareholders of the listed company was RMB 21,998,834,055.38, an increase of 7.95% compared to the end of the previous year[3] - Total assets decreased slightly from 491.74 billion yuan at the end of 2023 to 489.53 billion yuan as of September 30, 2024[15][17] - Current assets decreased from 365.22 billion yuan at the end of 2023 to 360.96 billion yuan as of September 30, 2024[15] - Monetary funds decreased by 25.5% from 5.88 billion yuan at the end of 2023 to 4.38 billion yuan as of September 30, 2024[14] - Accounts receivable increased by 21.8% from 7.86 billion yuan at the end of 2023 to 9.57 billion yuan as of September 30, 2024[14] - Total liabilities decreased from 272.93 billion yuan at the end of 2023 to 253.26 billion yuan as of September 30, 2024[16][17] - Short-term borrowings increased by 112.8% from 662.06 million yuan at the end of 2023 to 1.41 billion yuan as of September 30, 2024[16] - Long-term borrowings decreased by 38% from 6.16 billion yuan at the end of 2023 to 3.82 billion yuan as of September 30, 2024[16] - Retained earnings increased by 12.8% from 121.64 billion yuan at the end of 2023 to 137.24 billion yuan as of September 30, 2024[17] - Total equity increased by 8% from 218.81 billion yuan at the end of 2023 to 236.27 billion yuan as of September 30, 2024[17] - Fixed assets increased by 6.8% from 4.85 billion yuan at the end of 2023 to 5.18 billion yuan as of September 30, 2024[15] - Cash flow from operating activities in the first three quarters of 2024 was 25.89 billion yuan, a 2.3% decrease compared to 26.50 billion yuan in the same period of 2023[22] - Sales of goods and services received cash of 24.34 billion yuan in the first three quarters of 2024, a 2.5% decrease compared to 24.97 billion yuan in the same period of 2023[22] - Operating cash flow increased to 2,353,779,343.50 RMB, up by 93.2% compared to the previous period[24] - Investment cash flow showed a net outflow of -628,502,141.03 RMB, an improvement from -1,996,992,526.38 RMB in the previous period[24] - Financing cash flow had a net outflow of -3,238,918,326.53 RMB, compared to a net inflow of 51,012,771.06 RMB previously[24] - Cash and cash equivalents decreased by 1,526,300,876.34 RMB, ending at 2,962,838,287.95 RMB[24] - Total assets decreased slightly to 39,301,813,226.29 RMB from 39,897,248,585.15 RMB[26] - Current assets totaled 22,781,894,780.28 RMB, with a notable increase in other receivables to 1,443,828,682.82 RMB[26] - Non-current assets stood at 16,519,918,446.01 RMB, with long-term equity investments at 13,031,263,820.86 RMB[26] - Total liabilities decreased to 16,858,760,352.16 RMB from 19,547,395,060.11 RMB, with a significant reduction in long-term borrowings[27] - Shareholders' equity increased to 22,443,052,874.13 RMB, driven by higher retained earnings of 14,792,012,732.59 RMB[27] - The company's short-term borrowings were reported at 100,709,028.00 RMB, a new addition to the current liabilities[27] - Total assets as of the end of Q3 2024 were 39,301,813,226.29 RMB, slightly down from 39,897,248,585.15 RMB at the end of Q3 2023[28] - Operating cash flow for the first three quarters of 2024 was 527,679,559.05 RMB, a decrease from 662,382,727.97 RMB in the same period of 2023[31] - Investment cash flow for the first three quarters of 2024 was 1,524,626,064.26 RMB, a significant improvement from -378,825,954.28 RMB in the same period of 2023[32] - Total equity as of the end of Q3 2024 was 22,443,052,874.13 RMB, up from 20,349,853,525.04 RMB at the end of Q3 2023[28] - Sales revenue from goods and services in the first three quarters of 2024 was 8,873,214,225.73 RMB, down from 9,314,167,951.42 RMB in the same period of 2023[31] - Cash and cash equivalents at the end of Q3 2024 were 1,538,677,537.17 RMB, down from 1,842,823,111.49 RMB at the end of Q3 2023[32] Non-Recurring Items and Other Income - Non-recurring gains and losses for the period amounted to RMB 60,738,611.16, with government subsidies contributing RMB 48,160,681.70[4][5] - Other income in the first three quarters of 2024 was 362.85 million yuan, a 120.9% increase compared to 164.29 million yuan in the same period of 2023[19] - Investment income in the first three quarters of 2024 was 174.38 million yuan, a 57.1% increase compared to 110.98 million yuan in the same period of 2023[19] - Investment income increased by 63.40 million yuan (57.13%) year-over-year, driven by gains from SEG's derivative financial products such as forward foreign exchange contracts and commodities[10] - Credit impairment losses increased by 212.19 million yuan year-over-year, with the coal machinery sector accounting for 195.57 million yuan of the increase due to reduced repayments[10] Shareholder and Equity Information - The top shareholder, Hongyi Investment Management (Henan) Partnership, holds 270.46 million shares, representing 15.15% of the total shares[11] - HKSCC NOMINEES LIMITED, the second-largest shareholder, holds 220.74 million shares, representing 12.36% of the total shares[11] - China Agricultural Bank's CSI 500 ETF participated in securities lending, with 1.74 million shares lent out at the beginning of the year, but none remained at the end of the reporting period[13] Research and Development Expenses - Research and development expenses for the first three quarters of 2024 were 1.21 billion yuan, a 6.9% decrease compared to 1.30 billion yuan in the same period of 2023[18] - R&D expenses increased to 372,964,809.42 RMB in the first three quarters of 2024, compared to 303,520,881.64 RMB in the same period of 2023[29] Earnings Per Share and Comprehensive Income - Basic earnings per share for the first three quarters of 2024 were 1.721 yuan, a 22.9% increase from 1.400 yuan in the same period of 2023[21] - Total comprehensive income for the first three quarters of 2024 was 3.24 billion yuan, a 35.2% increase compared to 2.40 billion yuan in the same period of 2023[21] Interest Expenses - Interest expenses decreased to 94,328,431.63 RMB in the first three quarters of 2024, compared to 130,958,093.74 RMB in the same period of 2023[29]