证券代码：603269 证券简称：海鸥股份 公告编号：2024-046 江苏海鸥冷却塔股份有限公司 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： 会议召开时间：2024 年 11 月 11 日(星期一)上午 10:00-11:00 会议召开地点： 上海证券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://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 11 月 08 日(星期五)16:00 前登录上证路演中心网站首页点 击"提问预征集"栏目（https://roadshow.sseinfo.com/questionCollection.do） 或通过公司邮箱 liuli@seagull-ct.com 进行提问。公司将在说明会上对投资者普 遍关注的问题进行回答。 江苏海鸥冷却塔股份有限公司（以下简称"公司"）已于 2024 年 10 月 30 日发布公司 2024 年第三季度报告，为便 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company reported a significant increase in total profit, but the actual income tax rate surged, causing fluctuations in net profit. The revenue for the first three quarters reached 1.101 billion yuan, a year-on-year increase of 24.76%, while the net profit attributable to shareholders was 40.9488 million yuan, up 10.45% year-on-year. In the third quarter alone, revenue was 456 million yuan, a 40.97% increase year-on-year, but net profit decreased by 15.03% year-on-year, aligning with expectations [1] - The gross profit margin has declined, with the first three quarters showing a margin of 23.88%, down 3.56 percentage points year-on-year. The third quarter's gross profit margin was 21.74%, down 4.61 percentage points year-on-year, attributed to project confirmation structure disturbances, with expectations for recovery in the fourth quarter [1] - The company has a substantial backlog of orders, totaling 3.743 billion yuan, approximately 2.7 times the company's total revenue for 2023, indicating strong future revenue growth potential [3] - The company is a domestic leader in cooling towers, focusing on nuclear power and liquid cooling domestic substitution, with significant growth potential in these areas [3] Financial Summary - The company forecasts net profits of 101.25 million yuan, 132.44 million yuan, and 166.38 million yuan for 2024-2026, with corresponding P/E ratios of 22X, 17X, and 13X based on the stock price as of October 30 [4] - The revenue for 2024 is projected to be 1.685 billion yuan, reflecting a year-on-year growth rate of 22.04% [4] - The company’s total assets are estimated to reach 3.310 billion yuan in 2024, with a debt ratio of 69.98% [2][6]

Financial Performance - The company's operating revenue for Q3 2024 was ¥455,524,311.42, representing a year-on-year increase of 40.97%[3] - The net profit attributable to shareholders for Q3 2024 was ¥13,113,192.70, a decrease of 15.03% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥12,916,342.71, down by 10.96% year-on-year[3] - The basic earnings per share for Q3 2024 was ¥0.06, a decrease of 14.29% year-on-year[3] - Net profit for the first three quarters of 2024 reached CNY 40,764,261.94, compared to CNY 39,420,581.13 in the same period of 2023, reflecting a growth of about 3.4%[15] - Operating revenue for the first three quarters of 2024 was CNY 1,101,102,782.72, an increase from CNY 882,603,545.91 in 2023, indicating a growth of approximately 24.8%[14] - The total operating costs for the first three quarters of 2024 were CNY 1,049,189,772.42, compared to CNY 828,302,402.42 in 2023, indicating an increase of about 26.6%[15] - The total comprehensive income for the third quarter of 2024 was CNY 75,883,870.31, an increase from CNY 32,686,494.24 in the same period last year[18] Cash Flow - The net cash flow from operating activities for Q3 2024 was ¥153,007,509.31, an increase of 116.50% compared to the same period last year[3] - The increase in net cash flow from operating activities was due to an increase in received payments during the reporting period[8] - The net cash flow from operating activities for the first three quarters of 2024 was CNY 205,377,489.28, compared to CNY 142,246,914.53 in the previous year[18] - The cash inflow from operating activities totaled CNY 986,210,908.66, down from CNY 1,140,006,697.41 in the same period last year[18] - The cash outflow from operating activities was CNY 780,833,419.38, compared to CNY 997,759,782.88 in the previous year[18] - The net cash flow from investing activities was negative CNY 18,137,170.54, compared to a positive CNY 1,428,039.24 in the previous year[18] - The cash inflow from financing activities was CNY 776,782,611.11, significantly higher than CNY 495,510,022.55 in the previous year[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,527,075,601.13, an increase of 8.11% compared to the end of the previous year[3] - Total current assets reached approximately RMB 3.01 billion, an increase of 8.54% from RMB 2.77 billion at the end of 2023[12] - The company's total non-current assets amounted to CNY 519,594,894.42, up from CNY 491,026,320.11, representing an increase of approximately 5.8%[14] - Total liabilities increased to CNY 2,468,111,627.58 from CNY 2,247,015,692.77, marking an increase of about 9.8%[14] Shareholder Information - The total number of common shareholders at the end of the reporting period was 11,079[9] - The largest shareholder, Wu Zhuping, holds 29,032,500 shares, representing 13.16% of total shares[9] - The company has established a joint action agreement between major shareholders to ensure stable management and operational strategies[10] - The company has not engaged in any financing or securities lending activities involving the top ten shareholders during the reporting period[11] - The total number of shares held by the top ten shareholders accounted for a significant portion of the company's equity, ensuring strong control over corporate governance[10] Government Subsidies and Tax Refunds - The company received government subsidies related to normal business operations amounting to ¥804,954.32 year-to-date[4] - The company received CNY 3,155,710.39 in tax refunds, compared to CNY 2,929,130.58 in the previous year[18] Research and Development - Research and development expenses rose to CNY 26,342,428.83, compared to CNY 19,801,165.40 in the previous year, showing an increase of approximately 33.0%[15] Financial Performance Changes - The company reported a financial expense of CNY 13,048,748.99, compared to a financial income of CNY -479,733.20 in the previous year, indicating a significant change in financial performance[15] Inventory and Accounts Receivable - Inventory increased to approximately RMB 1.41 billion, up from RMB 1.19 billion, indicating a growth of 18.63%[12] - The company reported a decrease in accounts receivable from RMB 674.70 million to RMB 661.45 million, a decline of 1.86%[12] Cash and Cash Equivalents - The company's cash and cash equivalents increased to approximately RMB 663.51 million as of September 30, 2024, up from RMB 531.59 million at the end of 2023, reflecting a growth of 24.83%[12] - Cash and cash equivalents at the end of the period increased to CNY 541,418,580.17 from CNY 428,518,049.46 at the end of the previous year[19] Dividends and Interest Payments - The company paid CNY 59,139,585.02 in dividends and interest, compared to CNY 44,243,280.97 in the previous year[19]

证券代码：603269 证券简称：海鸥股份 公告编号：2024-044 江苏海鸥冷却塔股份有限公司 关于 2024 年半年度业绩说明会召开情况的公告 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。 问题 3：公司有能力开展核电冷却塔相关业务吗？当前核电领域冷却塔公司 参与的情况？后续展望如何？ 二、本次业绩说明会投资者提出的主要问题及公司的回复情况 问题 1：我有两个问题：公司是否是最快可在年底获取 FM 认证？第二，公 司在数据中心冷却塔，特别是液冷冷却塔未来的布局是怎么样的，特别是研发， 产能，项目储备等方面。感谢！ 答：感谢您对公司的关注，关于 FM 认证公司已经完成燃烧测试工作，公司 将继续按照既定的计划并结合测试所在国和测试认证机构的要求，有序推进后续 相关工作，目前进展顺利。公司已经成立专项小组，从事液冷冷却塔的研发及业 务拓展等相关工作。谢谢。 问题 2：请问未来的业绩会大幅增长吗？公司的股价走势如何？ 答：公司对未来业绩增长充满信心，公司将继续争取以良好的业绩回报投资 者。谢谢。 江苏海鸥冷却塔股份有限公 ...

坦保人基本情况 座头冷却设备有限公司 (一) 江苏海洋为公司至资子公司，公司持有江苏海洋 100%的股权。 江苏海洋成立于 2018年 2 月 6 日,注册资本为 2,000 万元人民币,注册地 址为常州市金坛区儒林镇长湖路 3号。 江苏海洋的主营业务为冷却设备、冷热交换设备、工业用电炉、液压装置、 泵生产、销售、安装、维修;机械设备及配件、金属材料、电子产品、感应加热 设备销售;自营和代理各类商品及技术的进出口业务。 截至 2023年 12月 31日,江苏海洋的主要财务数据(经审计):总资产为 人民币 27,497.53 万元,负债总额为人民币 20,541.22 万元,资产负债率为 74.70%,短期借款为人民币 8,001.17 万元,流动负债合计为人民币 20,539.36 万元,所有者权益合计为人民币 6,956.31 万元;2023 年度营业收入为人民币 17,152.83 万元,净利润为人民币 1,202.40 万元。 截至 2024年6月30日,江苏海洋主要财务数据(未经审计):总资产为人 民币27,890.87万元,负债总额为人民币20,285.52万元,资产负债率为72.73%, 短期借款 ...

证券代码：603269 证券简称：海鸥股份 公告编号：2024-043 江苏海鸥冷却塔股份有限公司 关于为子公司提供担保的进展公告 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。 全资子公司海鸥亚太和 TCT 因生产经营需要向渣打银行（马来西亚）有限 公司（以下简称"渣打银行"）申请授信。2024 年 9 月 26 日公司签署了最高额 保证，公司为海鸥亚太和 TCT 向渣打银行申请的授信额度提供保证担保，所担 保债务余额总额为不超过 185.15 万美元（约合人民币 1,316.86 万元）、230 万 林吉特（约合人民币 379.52 万元）和 282.90 万美元（约合人民币 2,012.10 万 元）。保证范围为债务人偿还根据主协议应付渣打银行的所有贷款本金、应收账 款购买或回购金额或其他金额、利息、罚息、违约金、损害赔偿金以及渣打银行 行使其在主协议下权利所遭受的各种费用和花费以及所采取的任何行权行动所 导致的任何数额（包括但不限于合理的律师费）等合同义务；在主协议项下的任 何付款义务因任何原因（无论渣打银行是否 ...

证券代码：603269 证券简称：海鸥股份 公告编号：2024-042 江苏海鸥冷却塔股份有限公司 关于召开 2024 年半年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： 会议召开时间：2024 年 10 月 08 日(星期二)上午 10:00-11:00 投资者可于 2024 年 09 月 24 日(星期二) 至 09 月 30 日(星期一)16:00 前登录 上证路演中心网站首页点击"提问预征集"栏目 （ https://roadshow.sseinfo.com/questionCollection.do ） 或 通 过 公 司 邮 箱 liuli@seagull-ct.com 进行提问。公司将在说明会上对投资者普遍关注的问题进 行回答。 江苏海鸥冷却塔股份有限公司（以下简称"公司"）已于 2024 年 8 月 30 日 发布公司 2024 年半年度报告，为便于广大投资者更全面深入地了解公司 2024 年半年度经营成果、财务状况，公司计划于 2024 年 10 月 08 日上午 10: ...

证券代码：603269 证券简称：海鸥股份 公告编号：2024-041 江苏海鸥冷却塔股份有限公司 董事集中竞价减持股份结果公告 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： 披露的减持时间区间届满 | 股东 | 减持数量 | 减持比例 | 减持期间 | 减持方式 | 减持价格区间 | 减持总金 | 减持完成情况 | 当前持股 | 当前持 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 杨华 | （股） 128,900 | 0.0584% | 2024/6/12～2024/9/9 | 集中竞价 交易 | （元/股） 7.55－7.64 | 额（元） 975,307 | 未完成： 2076400 股 | 数量（股） 8,703,094 | 股比例 3.9463% | 2 (二)本次实际减持情况与此前披露的减持计划、承诺是否一致 √是 □否 | 股东名称 | 股东身份 | 持股数量 （股） | 持股比例 | 当前持 ...

Investment Rating - The investment rating for the company is "Outperform" [6] Core Insights - The company reported a revenue of 646 million yuan for the first half of 2024, representing a year-on-year growth of 15.39%, and a net profit attributable to shareholders of 27.84 million yuan, up 28.63% year-on-year [6] - The second quarter saw a revenue of 377 million yuan, a year-on-year increase of 7.08%, but a decline in net profit by 23.06% due to reduced exchange gains and a slowdown in order performance recognition [6] - The company has a strong order backlog of 3.743 billion yuan, which is approximately 2.7 times its total revenue for 2023, indicating potential for future earnings growth [6] - The company is positioned as a leader in the domestic cooling tower market, with significant opportunities in nuclear power and AI liquid cooling sectors [6] Summary by Sections Financial Performance - For the first half of 2024, the gross margin was 25.39%, down 2.68 percentage points year-on-year, with the second quarter gross margin at 25.22%, a decrease of 2.06 percentage points [6] - The net cash flow from operating activities for the first half was 52.37 million yuan, a decline of 19.20 million yuan year-on-year, with a cash collection ratio of 80.29%, down 58.97 percentage points [6] Order and Contract Status - The company’s contract liabilities reached 1.399 billion yuan, a year-on-year increase of 49.06%, indicating a robust pipeline for future revenue recognition [6] Market Position and Growth Potential - The company has secured orders for nuclear island cooling towers, marking a significant step in domestic substitution for previously imported products [6] - The focus on AI liquid cooling presents additional growth opportunities, as the company prepares for relevant certifications to compete in a market currently dominated by foreign firms [6] Earnings Forecast and Valuation - The forecasted net profits for 2024-2026 are 111 million yuan, 143 million yuan, and 179 million yuan respectively, with corresponding price-to-earnings ratios of 15X, 12X, and 10X based on the stock price as of August 29 [6][7]

Financial Performance - The company's operating revenue for the first half of 2024 reached ¥645,578,471.30, representing a 15.39% increase compared to ¥559,470,701.74 in the same period last year[12]. - The net profit attributable to shareholders of the listed company was ¥27,835,557.86, up 28.63% from ¥21,640,388.55 in the previous year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥27,243,318.36, reflecting a 20.46% increase from ¥22,616,299.17 in the same period last year[12]. - Basic earnings per share increased by 30% to CNY 0.13 compared to the same period last year[13]. - Diluted earnings per share also rose by 30% to CNY 0.13 year-on-year[13]. - The total revenue for the first half of 2024 is projected to grow by 15% year-over-year, driven by new product launches and market expansion strategies[81]. - Total operating revenue for the first half of 2024 reached CNY 645,578,471.30, an increase of 15.4% compared to CNY 559,470,701.74 in the same period of 2023[86]. - Net profit for the first half of 2024 was CNY 28,730,206.24, representing a 24.5% increase from CNY 23,147,735.90 in the previous year[87]. Cash Flow and Assets - The net cash flow from operating activities decreased by 26.83% to ¥52,369,979.97, down from ¥71,574,769.38 in the previous year[12]. - The net cash flow from investing activities was -10,744,228.93, a significant decrease compared to -1,138,687.85 from the previous period, indicating increased capital expenditures[25]. - The net cash flow from financing activities decreased to -5,741,943.60 from 94,645,717.54, primarily due to increased bank loan repayments[25]. - The total assets increased by 5.41% to ¥3,439,174,824.17, compared to ¥3,262,574,076.36 at the end of the previous year[12]. - The company's total assets at the end of the reporting period amounted to ¥1,002,576,007.71, indicating a stable asset base[96]. - The total current asset of CNY 1,434,097,266.89, an increase from CNY 1,188,823,635.42 in the previous period, reflecting a growth of approximately 20.6%[80]. Research and Development - R&D expenses rose by 58.36% to 10.45 million CNY, reflecting the company's commitment to innovation[24]. - Key R&D projects include the development of green low-carbon water-saving dry-wet combined closed cooling towers and smart control liquid cooling systems for energy storage stations[24]. - The company is actively investing in R&D for environmentally friendly products with higher added value[37]. - Research and development expenses rose to CNY 16,552,390.39, up from CNY 10,452,616.32, indicating a significant investment in innovation[87]. Acquisitions and Market Expansion - The company completed the acquisition of 60% equity in Suzhou Green Meng Hydrogen Energy Technology Co., Ltd., aiming to expand into the hydrogen energy sector[24]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[90]. Environmental and Regulatory Compliance - The company has implemented various pollution prevention measures for waste gas, wastewater, noise, and solid waste during production processes[44][45][46][47][48]. - The company’s environmental protection measures are in line with regulations, with no administrative penalties reported for environmental issues[44][47]. - The company has committed to ensuring that its prospectus and summary do not contain false records, misleading statements, or significant omissions, and will bear individual and joint legal responsibility for their authenticity, accuracy, and completeness[51]. Shareholder Commitments and Governance - The company has established a commitment to minimize and avoid related party transactions, ensuring fair market pricing and compliance with legal procedures[60]. - The commitments made by shareholders are effective as long as they hold more than 5% of the company's shares[59]. - The company held two shareholder meetings in the reporting period, with all proposals approved[40]. - There were significant changes in management, including the resignation of the Vice President and the election of a new Supervisory Board Chair[41]. Financial Management and Liabilities - The company reported a significant reduction in long-term borrowings by 90.97%, decreasing from 88,398,551.78 to 7,983,500.85[26]. - The total liabilities increased to CNY 2,436,598,816.46 from CNY 2,247,015,692.77, reflecting a growth of about 8.5%[82]. - The company has not reported any overdue guarantees or significant guarantee amounts during the reporting period, indicating sound financial management[68]. Taxation and Compliance - The company is subject to various tax rates, including a corporate income tax rate of 15% for Jiangsu Seagull Cooling Tower Co., Ltd. and 25% for Changzhou Jintan Jino Water Treatment Co., Ltd.[190]. - The value-added tax rates applicable to the company range from 3% to 17% depending on the type of goods and services sold[189]. - The company has subsidiaries in various regions with differing corporate income tax rates, including 0%, 5%, 15%, and up to 35% depending on local regulations[190]. Inventory and Asset Management - Inventory increased significantly to CNY 1,434,097,266.89 from CNY 1,188,823,635.42, marking a growth of around 20.6%[80]. - The company uses a perpetual inventory system for inventory management[134]. - Inventory is measured at the lower of cost and net realizable value, with provisions made when costs exceed realizable values[135].