Group 1: Financial Performance Overview - In the first three quarters of 2024, the company achieved a revenue of CNY 4.684 billion, with a net profit of CNY 309 million, and a net cash flow from operating activities of CNY 489 million [2] - The company reported a month-on-month recovery in performance during the third quarter, despite a challenging real estate market and weakened demand in the ceramic tile industry [2] - The gross profit margin remained stable at 31.23%, while the unit manufacturing cost of tiles decreased by 6.0% [2] Group 2: Strategic Measures and Results - The company focused on enhancing product strength, resulting in a 3.5 percentage point increase in revenue contribution from the top 10 products [2] - Effective management of receivables led to a 10.98% decrease in accounts receivable and a 12.70% reduction in sales, management, and financial expenses [2] - The company is actively participating in government "old-for-new" promotional activities, with 129 cities currently offering tile subsidies [3] Group 3: Share Buyback and Investor Confidence - The board approved a plan to repurchase and cancel approximately 16.02 million shares to enhance investor confidence and increase long-term investment value [3] - The company aims to improve earnings per share and net asset value through this share cancellation initiative [3] Group 4: Market and Industry Outlook - Recent government measures, including interest rate cuts and subsidies, are expected to stabilize the real estate and building materials market [3] - The company anticipates a reduction in inventory levels in the fourth quarter due to seasonal production adjustments and promotional activities [5] - The industry is experiencing a trend of supply-side reform, with a noticeable exit of outdated production capacity, leading to increased market concentration [5] Group 5: Future Development Strategy - Over the next three years, the company plans to focus on its core tile business, enhance market share, and improve supply chain control [5] - The company aims to innovate through product, technology, and brand upgrades, capitalizing on urban renewal and green building opportunities [5]

Investment Rating - The report maintains an "Accumulate" rating for the company, with a target price of 7.06 CNY based on a 20x PE for 2024 [4][6]. Core Views - The company's performance in Q3 was significantly under pressure, with a year-on-year revenue decline of 24.41% and a net profit drop of 59.94%. The overall revenue for the first three quarters of 2024 was 4.68 billion CNY, down 18.27% year-on-year, and the net profit was 309 million CNY, down 50.95% year-on-year. The report attributes this decline to high base effects from the previous year and ongoing weakness in the real estate sector, which has limited demand in the building ceramics industry [1][4]. - Despite the current challenges, the report expresses optimism about the company's long-term growth potential and market share improvement, especially if the real estate sector recovers [1][4]. Financial Performance Summary - In Q3 2024, the company's gross margin was 32.5%, a decrease of 0.44 percentage points year-on-year. The cumulative gross margin for the first three quarters was 31.2%, down 1.13 percentage points year-on-year. The report indicates that insufficient demand and rising raw material costs have pressured profitability [2]. - The company reported a period expense ratio of 20.17% for the first three quarters of 2024, an increase of 1.84 percentage points year-on-year. Although the company has been managing expenses effectively, the significant revenue decline has hindered the dilution of these costs [3]. - Cash flow from operations for the first three quarters of 2024 was 489 million CNY, a decrease of 962 million CNY year-on-year, with a cash collection ratio of 122.94%, down 1.02 percentage points year-on-year [3][10]. Financial Forecasts - The company is projected to achieve revenues of 6.58 billion CNY in 2024, a decrease of 15.36% year-on-year, followed by a recovery to 7.03 billion CNY in 2025 and 7.68 billion CNY in 2026 [5][11]. - The net profit attributable to the parent company is forecasted to be 414 million CNY in 2024, down 42.52% year-on-year, with expected growth of 16.72% in 2025 and 14.84% in 2026 [5][11]. Market Position and Valuation - The company has a well-established nationwide marketing network and distribution channels. If the real estate market improves, the company is expected to have a solid growth foundation and gradually increase its market share [4][8]. - The report compares the company's valuation with peers, indicating a current P/E ratio of 10.23 for 2023, which is lower than the average of comparable companies [8].

Summary of the Conference Call for Dongpeng Holdings Q3 2024 Performance Company Overview - **Company**: Dongpeng Holdings - **Industry**: Building materials, specifically tiles and sanitary ware Key Points and Arguments Q3 Performance Overview - **Performance Trend**: Q3 performance showed a decline but began to recover gradually [2] - **Revenue Figures**: Total revenue was 4.684 billion CNY, with tile revenue close to 4 billion CNY [3] - **Comparison with Competitors**: Dongpeng's revenue exceeded a competitor's by 11%, with a net profit 2.19 times higher than that of a competitor [3][4] Market Conditions - **Real Estate Impact**: The real estate market remains weak, leading to low demand and increased competition in the building materials sector [2][7] - **Policy Changes**: Recent government policies aimed at stabilizing the real estate market, including interest rate cuts and loan adjustments, are expected to improve market conditions [7] Financial Metrics - **Net Profit Margin**: Despite a decline in revenue, the company maintained a gross margin of 31.23%, higher than a competitor's 27.58% [4][6] - **Accounts Receivable**: Accounts receivable decreased by 11%, while a competitor's increased by 7.52% [5] - **Cost Management**: Manufacturing costs decreased by 6%, and sales, management, and financial expenses dropped by 12.7% [5][6] Strategic Initiatives - **Share Buyback**: The company announced a share buyback and cancellation, which is expected to enhance investor confidence [2][10] - **Sustainability of Cost Reduction**: The management emphasized ongoing efforts to improve operational efficiency and reduce costs, with significant room for improvement in sales expenses [8][10] Marketing and Sales Strategies - **Promotion of "Old for New" Policy**: Dongpeng is actively participating in government-backed "old for new" initiatives, which have gained traction in the home improvement sector [14][15] - **Sales Performance**: In October, one-third of regional subsidiaries reported year-on-year sales growth, indicating a potential recovery [7] Future Outlook - **Market Recovery Expectations**: The management anticipates a gradual recovery in Q4 and beyond, driven by government policies and internal strategies [34] - **Inventory Management**: The company plans to manage inventory levels effectively, with expectations of a significant reduction in stock by year-end [31] Investor Relations - **Dividend Policy**: Dongpeng has maintained a high dividend payout ratio, averaging close to 50% of net profit, with plans for continued shareholder returns [11][10] - **Engagement with Investors**: The management encouraged ongoing communication with investors and analysts to address concerns and share updates [38] Additional Important Information - **Competitive Positioning**: Dongpeng is positioned as a leading player in the tile industry, with a focus on enhancing product quality and operational efficiency [8][10] - **Financial Health**: The company maintains a low debt-to-asset ratio of 36.29%, significantly lower than a competitor's 57% [6] This summary encapsulates the key insights from the conference call, highlighting Dongpeng Holdings' performance, market conditions, strategic initiatives, and future outlook.

10月25日晚间，东鹏控股(003012)披露2024年第三季度报告。 今年前三季度，房地产市场尚待止跌回稳，建陶行业需求减弱，竞争日趋激烈。 东鹏控股实现营业收入46.84亿元，归属于上市公司股东的净利润3.09亿元，经营活动产生的现金流量净 额4.89亿元。 面对市场变化，东鹏控股推动结构优化、拓展增量、精益运营、提质增效等重点工作，实现了第三季度 业绩逐月环比增长。 进一步提升产品力，推动主力系列产品聚焦，Top10收入占比上升3.5个百分点；持续优化全价值链效 率，瓷砖单位制造成本下降6.0%，整体毛利率31.23% ，基本保持稳定；应收和费用得到有效管控，应 收款项下降10.98%，销售、管理和财务费用下降12.70%；工程转型升级，城投城建、设计院等专业细 分工程业绩增长11.47%。 数据显示，公司资产状况稳健，向金融机构借款等有息负债较少，货币资金和资产负债率保持较好水 平。 同时，董事会审议通过《关于变更回购股份用途并注销的议案》，基于对公司未来发展前景的信心和对 自身价值的高度认同，为切实维护广大投资者利益、增强投资者信心、提高长期投资价值，积极响 应"鼓励上市公司将回购股份依法注销"的倡 ...

证券代码：003012 证券简称：东鹏控股 公告编号:2024-085 1 1.37%，成交总金额为人民币 150,079,215.34 元（不含交易费用），实际回购的 时间区间为 2022 年 2 月 28 日至 2022 年 9 月 23 日。 基于对公司未来发展前景的信心和对自身价值的高度认同，为切实维护广大 投资者利益、增强投资者信心、提高长期投资价值，积极响应"鼓励上市公司将 回购股份依法注销"的倡议，广东东鹏控股股份有限公司（以下简称"东鹏控股" 或"公司"）于 2024 年 10 月 24 日召开第五届董事会第十二次会议审议通过了 《关于变更回购股份用途并注销的议案》，公司董事会同意变更 2021 年 10 月 29 日审议通过的回购股份方案的回购股份用途，由原方案"回购的股份将用于 实施公司员工持股计划或者股权激励"变更为"本次实际回购的股份用于注销并 减少注册资本"，即拟对回购专用证券账户中的 16,018,842 股股份进行注销并 相应减少公司注册资本。本次变更事项尚需公司股东大会审议通过后方可生效。 具体情况如下： 一、回购股份方案及实施情况 公司于 2021 年 10 月 29 日召开 ...

第一章 总则 第一条 为加强广东东鹏控股股份有限公司（以下简称"公司"或"本公司"） 董事、监事和高级管理人员所持本公司股票及其变动的管理，维护证券市场秩序， 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国 证券法》（以下简称"《证券法》"）、《上市公司股东减持股份管理暂行办法》 《上市公司董事、监事和高级管理人员所持本公司股份及其变动管理规则》《深 圳证券交易所上市公司自律监管指引第 18 号——股东及董事、监事、高级管理 人员减持股份》《深圳证券交易所股票上市规则》《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》《广东东鹏控股股份有限公司章程》 （以下简称"《公司章程》"）等有关法律、法规、规范性文件的有关规定，制 订本办法。 广东东鹏控股股份有限公司 董事、监事和高级管理人员所持本公司股份及其变动 管理办法 第二条 本办法适用于公司董事、监事和高级管理人员，其所持本公司股票 是指登记在其名下和利用他人账户持有的所有本公司股份；公司董事、监事和高 级管理人员从事融资融券交易的，其所持本公司股票还包括记载在其信用账户内 的本公司股份。 第三条 本公司董事、 ...

广东东鹏控股股份有限公司 第五届监事会第十次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 证券代码：003012 证券简称：东鹏控股 公告编号:2024-082 经与会监事认真审议，以记名投票表决方式通过了以下议案： 1、审议通过了《关于2024年第三季度报告的议案》。 经审核，监事会认为：公司董事会编制和审核公司 2024 年第三季度报告的 程序符合法律、行政法规、中国证监会和深圳证券交易所的有关规定，报告内容 真实、准确、完整地反映了公司的实际情况，不存在任何虚假记载、误导性陈述 或重大遗漏。 表决结果：同意 3 票，占全体监事人数的 100%；反对 0 票；弃权 0 票。 2、审议通过了《关于首次公开发行股票募投项目结项、部分终止并将剩余 募集资金永久补充流动资金的议案》。 一、监事会会议召开情况 广东东鹏控股股份有限公司（以下简称"公司"）第五届监事会第十次会议 于2024年10月24日下午在东鹏总部大厦2508会议室以现场表决方式召开，会议通 知于2024年10月12日以书面或电子邮件方式发出。本次会议应出席监事3名，实 际出席监事3 ...

广东东鹏控股股份有限公司 舆情管理制度 第一章 总则 第一条 为提高广东东鹏控股股份有限公司（以下简称"公司"）应对各类舆 情的能力，有效预防、监控并建立快速反应和应急处置机制，及时、妥善处理并 应对各类舆情对公司股价、公司商业信誉、品牌形象及正常生产经营活动造成的 影响，切实保护投资者合法权益，根据《深圳证券交易所股票上市规则》等相关 法律法规规定和《广东东鹏控股股份有限公司》（以下简称"《公司章程》"），结 合公司实际情况，制定本制度。 第二条 本制度所称"舆情"包括： （一）报刊、电视、网络等媒体对公司进行的负面报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （三）可能或者已经影响社会公众投资者投资取向，造成股价异常波动的信 息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较 大影响的事件信息。 第三条 公司舆情应对坚持"科学应对、突出导向、注重实效"的总体原则， 有效应对内部舆论和社会舆论，避免和消除因媒体报道可能对公司造成的各种负 面影响，切实维护公司的利益和形象。 第二章 舆情管理的组织体系及其工作职责 第四条 公司应对各类舆情工作实行统一领导、统一组织、 ...

中国国际金融股份有限公司 关于广东东鹏控股股份有限公司募投项目结项、部分终止 并将剩余募集资金永久补充流动资金的核查意见 中国国际金融股份有限公司（以下简称"中金公司"、"保荐机构"）作为 广东东鹏控股股份有限公司（以下简称"东鹏控股"、"公司"）首次公开发行 股票并上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司监 管指引第 2 号——上市公司募集资金管理和使用的监管要求》《深圳证券交易所 股票上市规则》《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》等有关规定，对东鹏控股募投项目结项、部分终止并拟将剩余募集 资金永久补充流动资金事项进行了核查，具体情况如下： 一、本次募集资金基本情况 经中国证券监督管理委员会《关于核准广东东鹏控股股份有限公司首次公开 发行股票的批复》（证监许可［2020］2222 号）核准，公司首次公开发行人民 币普通股（A 股）143,000,000 股，发行价格 11.35 元/股，共募集资金总额为人 民币 1,623,050,000.00 元，扣除发行费用人民币 142,983,000.00 元后，公司本次 实际募集资金净额为人民币 1,48 ...

证券代码：003012 证券简称：东鹏控股 公告编号:2024-081 广东东鹏控股股份有限公司（以下简称"公司"）第五届董事会第十二次会 议于2024年10月24日下午在东鹏总部大厦2508会议室以现场结合通讯表决方式 召开，会议通知于2024年10月12日以书面或电子邮件方式发出。本次会议应出席 董事9名，实际出席董事9名（其中邵钰、邹戈董事以通讯表决方式出席），出席 董事占东鹏控股全体董事人数的100%，公司监事和高级管理人员列席了本次会议， 会议由董事长何新明先生主持。本次会议符合《公司法》等有关法律、行政法规、 部门规章、规范性文件和《公司章程》的规定，会议合法有效。 二、董事会会议审议情况 经与会董事认真审议，以记名投票表决方式通过了以下议案： 广东东鹏控股股份有限公司 第五届董事会第十二次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、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 1、审议通过了《关于2024年第三季度报告的议案》。 公司《2024年第三季度报告》披露于《中国证券报》《证券时报》《上海证 券报》《证券日报》和巨潮资讯网（www.cninf ...