证券代码：002674 证券简称：兴业科技 公告编号：2024-050 兴业皮革科技股份有限公司 第六届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 兴业皮革科技股份有限公司（以下简称"公司"）第六届董事会第九次会议 书面通知于 2024 年 10 月 16 日以直接送达、传真、电子邮件并电话确认等方式 送达全体董事，本次会议于 2024 年 10 月 26 日上午 10:00 在福建省晋江市安海 第二工业区公司办公楼二楼会议室以现场会议的方式召开。本次会议应出席董事 7 名，实际出席董事 7 名。本次会议的出席人数符合召开董事会会议的法定人数。 本次会议由董事吴华春先生主持，公司的监事、高管人员列席了本次会议。本次 会议的召集和召开符合《中华人民共和国公司法》《中华人民共和国证券法》《深 圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等有关 法律、行政法规和中国证监会相关规范性文件及《公司章程》的有关规定。 该议案在提交董事会审议前，已经独立董事专门会议审议通过，并取得全体 独立董事同 ...

兴业皮革科技股份有限公司 （以下无正文） （此页无正文，为兴业皮革科技股份有限公司第六届董事会 2024 年第四次 独立董事专门会议审议意见签署页） 第六届董事会 2024 年第四次独立董事专门会议审核意见 根据《上市公司独立董事管理办法》《深圳证券交易所上市公司自律监管指 引第 1 号——主板上市公司规范运作》《公司章程》《独立董事工作制度》等有关 规定，兴业皮革科技股份有限公司（以下简称"公司"）第六届董事会全体独立 董事，于2024年10月16日召开第六届董事会2024年第四次独立董事专门会议， 就审议事项发表审核意见如下： 一、关于公司向银行申请授信并由关联方提供担保事项的审核意见 我们认真审议了《关于公司向银行申请授信并由关联方提供担保的议案》， 公司因经营需要向银行申请授信，由关联方吴华春先生和孙婉玉女士提供担保， 支持了公司的发展，公司无需就此次担保支付任何费用，或提供反担保，亦不存 在利用关联交易损害公司利益的情形，该关联交易对公司的独立性没有不利影响。 全体独立董事同意该议案，并同意将该议案提交公司第六届董事会第九次会 议审议。董事会在审议该议案时，关联董事吴华春先生、孙辉永先生应予以回避。 ...

证券代码：002674 证券简称：兴业科技 公告编号：2024-055 兴业皮革科技股份有限公司 关于向控股二级子公司增资的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、对外投资概述 1、兴业皮革科技股份有限公司（以下简称"公司"）于 2024 年 10 月 26 日 召开的第六届董事会第九次会议，审议通过了《关于向控股二级子公司增资的议 案》。公司全资子公司兴业投资国际有限公司（以下简称"兴业国际"）拟以自有 资金向其控股子公司联华皮革工业有限公司（以下简称"联华皮革"）增资人民 币 4,950 万元，联华皮革的外方股东 PT.CISARUA CIANJUR ASRI 也将按股权比 例向联华皮革增资人民币 50 万元。本次增资事项完成后，联华皮革仍为兴业国 际的控股子公司，兴业国际持有联华皮革 99%的股权比例维持不变。 单位：元 | 项目 | 2023 | 年 1-12 月 | 2024 1-6 | 年 月 | | --- | --- | --- | --- | --- | | 资产总额 | | 131,834,019.73 | | 215,0 ...

兴业皮革科技股份有限公司（以下简称"公司"）近日接到公司控股股东石河 子万兴股权投资合伙企业（有限合伙）（以下简称"万兴投资"）及其一致行动人 吴国仕先生的通知，获悉万兴投资和吴国仕分别与国泰君安证券股份有限公司 （以下简称"国泰君安"）就部分已质押股份办理了解除质押业务，万兴投资和 吴国仕先生还分别与国泰君安就部分股份办理了质押融资购回业务。具体内容如 下： 一、股东股份解除质押及质押的基本情况 | 股东名称 | 是否为控股 股东或第一 大股东及其 一致行动人 | 本次解除质押 数量（股） | 占其所持 股份比例 | 占公司总 股本比例 | | 质押起始日 | | | 解除质押日期 | | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 万兴投资 | 是 | 5,290,000 | 6.24% | 1.81% | 2021 日 | 年 10 | 月 20 | 2024 | 年 10 | 月 日 18 | 国泰君安 | | 吴国仕 | 是 | 5,290,000 | 13.34% | 1.81% ...

证券代码：002674 证券简称：兴业科技 公告编号：2024-048 兴业皮革科技股份有限公司 关于为子公司提供担保的进展公告（五） 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 兴业皮革科技股份有限公司（以下简称"公司"）于 2024 年 4 月 20 日召开第 六届董事会第七次会议，会议审议通过了《关于公司为子公司提供担保额度的议 案》，该议案于 2024 年 5 月 15 日经公司 2023 年度股东大会审议通过。公司向下 属子公司提供累计不超过 12.3 亿元的新增担保额度，其中为子公司福建宝泰皮 革有限公司（以下简称"宝泰皮革"）提供担保额度 25,000 万元，担保额度的有 效期为自股东大会审议通过之日起 12 个月内。上述具体内容详见公司于 2024 年 4 月 23 日在《证券时报》《证券日报》及巨潮资讯网（www.cninfo.com.cn）披 露的《兴业皮革科技股份有限公司关于为子公司提供担保额度的公告》 （2024-018）。 一、担保情况概述 平安银行股份有限公司泉州分行（以下简称"平安银行泉州分行"）批准向子 公司宝泰皮革提供额度 ...

证券代码：002674 证券简称：兴业科技 公告编号：2024-047 兴业皮革科技股份有限公司 关于为子公司提供担保的进展公告（四） 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 兴业皮革科技股份有限公司（以下简称"公司"）于 2024 年 4 月 20 日召开第 六届董事会第七次会议，会议审议通过了《关于公司为子公司提供担保额度的议 案》，该议案于 2024 年 5 月 15 日经公司 2023 年度股东大会审议通过。公司向下 属子公司提供累计不超过 12.3 亿元的新增担保额度，其中为子公司徐州兴宁皮 业有限公司（以下简称"兴宁皮业"）提供担保额度 15,000 万元，为子公司宏兴 汽车皮革（福建）发展有限公司（以下简称"宏兴汽车皮革"）提供担保额度 52,000 万元，上述担保额度的有效期为自股东大会审议通过之日起 12 个月内。上述具 体内容详见公司于 2024 年 4 月 23 日在《证券时报》《证券日报》及巨潮资讯网 （www.cninfo.com.cn）披露的《兴业皮革科技股份有限公司关于为子公司提供担 保额度的公告》（2024-018）。 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][22]. Core Insights - The company's H1 2024 revenue increased slightly to 1.261 billion yuan, a year-on-year growth of 5.5%, while the net profit attributable to shareholders decreased by 38.4% to 57 million yuan. The automotive interior leather segment performed better than expected, contributing to revenue growth despite asset impairment affecting net profit [10][15][22]. - The company is committed to its strategy as a one-stop supplier of cowhide materials, with expectations for continued growth in export business and new models in the automotive sector supporting revenue increases [22]. Summary by Sections 1. H1 2024 Revenue and Profit Performance - The company reported H1 2024 revenue of 1.261 billion yuan, with a breakdown of quarterly revenues at 597 million yuan for Q1 (up 28.6% YoY) and 665 million yuan for Q2 (down 9.2% YoY). The net profit for Q1 was 35 million yuan (up 22% YoY) and for Q2 was 23 million yuan (down 65.1% YoY) [10][14]. - The automotive interior leather revenue reached 294 million yuan in H1 2024, reflecting a 21.11% increase YoY, while the shoe and bag leather segment saw a slight decline of 0.3% [12][10]. 2. Profitability and Cost Management - The gross margin for H1 2024 was 20.36%, with a slight increase of 0.09 percentage points. The net profit margin was 4.53%, down 3.23 percentage points YoY [15][16]. - The company recorded an asset impairment loss of 57 million yuan, which accounted for 4.5% of revenue, primarily due to weak downstream market demand [16][15]. 3. Future Outlook and Production Capacity - The company plans to expand its production capacity with a new factory in Indonesia expected to commence operations in Q4 2024, aiming to enhance delivery times and responsiveness to international market demands [20][22]. - The profit forecasts for 2024-2026 have been adjusted to 220 million, 280 million, and 330 million yuan respectively, reflecting a downward revision from previous estimates [22][21]. 4. Financial Metrics and Valuation - The current stock price corresponds to a P/E ratio of 10.7 for 2024, 8.7 for 2025, and 7.2 for 2026, indicating potential value for investors [22][7]. - The company aims for a minimum growth of 20% in net profit for 2024, as part of its performance assessment criteria [20][21].

Investment Rating - The investment rating for the company is "Buy" with a maintained rating [1][3]. Core Views - The automotive interior leather business is experiencing rapid growth, and profitability is further improving [1][2]. - The company is actively expanding its overseas production capacity, promoting global capacity [2][3]. - The company has a strong bargaining power due to its large scale and is effectively adjusting its customer and product structure to enhance competitiveness [2][3]. Financial Summary - Revenue for 2022 was 1,988 million, projected to reach 2,959 million by 2024, with a year-on-year growth rate of 9.6% [1]. - Net profit for 2022 was 151 million, expected to grow to 221 million by 2024, reflecting a year-on-year growth rate of 18.6% [1]. - The company's ROE is projected to increase from 8.9% in 2023 to 12.2% by 2026 [1]. - The latest diluted EPS is expected to rise from 0.64 in 2023 to 1.16 by 2026 [1]. Business Performance - In the first half of 2024, the company achieved a revenue of 1.261 billion, a year-on-year increase of 5.45%, while net profit decreased by 38.44% to 57 million [1][2]. - The gross margin for the first half of 2024 was 20.36%, with a slight increase of 0.10 percentage points year-on-year [2]. - The automotive interior leather segment generated revenue of 294 million, showing a year-on-year growth of 21.11% [2]. Market Position - The company is a supplier for several domestic new energy vehicle brands, benefiting from the rapid growth of the domestic new energy vehicle market [2][3]. - The company is positioned to capture growth opportunities in the automotive interior market, particularly with the rise of domestic new energy brands [2][3].

Summary of Conference Call Notes Company and Industry Involved - The discussion involves a company in the traditional leather goods industry, specifically focusing on a leading company known as "星越" (Xingyue) [1] Core Points and Arguments - The company has invited a representative, 阿亚亮 (A Ya Liang), to provide an update on the semi-annual report [1] - The company has established significant barriers and protective measures within the traditional leather goods sector, indicating a strong competitive position [1] Other Important but Possibly Overlooked Content - The atmosphere of the discussion suggests a positive outlook on the company's performance and its role as a leader in the industry [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) with a market price of 7.96 CNY [1]. Core Views - The company reported a revenue of 1.261 billion CNY in the first half of 2024, a year-on-year increase of 5.45%, but the net profit attributable to shareholders decreased by 38.44% to 57 million CNY [1]. - The decline in profit was primarily due to an increase in asset impairment losses, particularly inventory impairment losses, which rose by 23.3 million CNY to 57.33 million CNY [1]. - The company is expected to continue to grow in the automotive leather segment, with a projected increase in net profit attributable to shareholders from 226 million CNY in 2024 to 343 million CNY in 2026 [1]. Summary by Relevant Sections Financial Performance - Revenue (in million CNY): 1,988 (2022A), 2,700 (2023A), 3,032 (2024E), 3,554 (2025E), 4,104 (2026E) with growth rates of 15%, 36%, 12%, 17%, and 15% respectively [1]. - Net Profit (in million CNY): 151 (2022A), 186 (2023A), 226 (2024E), 289 (2025E), 343 (2026E) with growth rates of -17%, 24%, 21%, 28%, and 19% respectively [1]. - Earnings per Share (in CNY): 0.52 (2022A), 0.64 (2023A), 0.77 (2024E), 0.99 (2025E), 1.18 (2026E) [1]. Business Segments - Revenue breakdown for H1 2024: - Leather for shoes and bags: 852 million CNY, down 0.30% year-on-year, accounting for 67.58% of total revenue. - Automotive interior leather: 294 million CNY, up 21.11% year-on-year, accounting for 23.33% of total revenue. - Second-layer leather collagen raw materials: 70.96 million CNY, up 17.94% year-on-year, accounting for 5.63% of total revenue [1]. - The subsidiary, Baotai Leather, achieved a revenue of 311 million CNY in H1 2024, up 57.5% year-on-year [1]. Profitability and Cash Flow - The company's gross margin increased by 0.1 percentage points to 20.36% in H1 2024, while the net profit margin decreased by 2.52 percentage points to 6.37% [1]. - Operating cash flow reached 180 million CNY in H1 2024, a year-on-year increase of 384.56% [1]. - The cash flow from operating activities to net income ratio was 233.67% [1].