关于实际控制人之一致行动人所持部分股份解除质押的公 告 公司实际控制人之一陈立尧之一致行动人彭惠萍保证向本公司提供的信 息内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 证券代码：300415 证券简称：伊之密 公告编号：2024-064 伊之密股份有限公司 截至公告披露日，控股股东、实际控制人及其一致行动人所持质押股份情况 如下： 注：本公告计算结果如有尾差，是因为四舍五入导致的。 控股股东、实际控制人及其一致行动人所持公司股份不涉及被冻结、拍卖或 设定信托的情况。 二、其他情况说明 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息 一致。 一、实际控制人之一致行动人部分股份解除质押的基本情况 2024 年 12 月 27 日，伊之密股份有限公司（以下简称"伊之密"或"公司"）收 到公司实际控制人之一陈立尧之一致行动人彭惠萍的通知，彭惠萍将其此前质押 给招商证券顺德北滘丰明中心证券营业部的部分公司股份提前解除质押。具体事 项如下： | 股东名称 | 是否为控 股股东或 | 本次解除 | 占其 所持 | 占公 司总 | 是否为限 售股（如 | 是否为 补充质 | 质押起 | 质押到 | ...

证券代码：300415 证券简称：伊之密 公告编号：2024-063 伊之密股份有限公司 关于与专业投资机构共同投资的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、 相关投资概述 （一）相关投资的基本情况 为更好地借助资本市场优势推动公司在高端智能制造等领域的战略探索，继 续寻找新产业发展方向，公司拟借助专业投资机构的经验、能力和资源，推进企 业的转型升级，以达到高端智能装备产业的资源合理配置和结构调整的目的，同 时实现管理资本的长期稳定增值，实现公司和股东收益最大化。伊之密股份有限 公司（以下简称"公司"）拟与美的创业投资管理有限公司（以下简称"美的资 本"）、广东美的美善科技投资合伙企业（有限合伙）（以下简称"美的美善"）、 广州科技成果产业化引导基金合伙企业（有限合伙）（以下简称"科创母基金"）、 佛山市顺德区悦城邦投资有限公司（以下简称"悦城邦"）、邓伟其共同设立美 智二期（广东）创业投资合伙企业（有限合伙），合伙企业资金规模为人民币16,196 万元，公司作为有限合伙人以自有资金出资人民币2,000万元。 （二）对外投资的审批程序 根据深 ...

证券代码：300415 证券简称：伊之密 公告编号：2024-062 梁敬华先生以及彭惠萍女士拟减持所持有公司部分股份，现将有关情况公告如下： | 股东 | 持股数量（股） | 持股比例 | 无限售条件流通股（股） | 有条件限售流通股（股） | | --- | --- | --- | --- | --- | | 梁敬华 | 9,510,396 | 2.03% | 2,377,599 | 7,132,797 | | 彭惠萍 | 17,161,291 | 3.66% | 17,161,291 | 0 | 一、 减持主体的基本情况 关于公司实际控制人及实际控制人的一致行动人 减持股份的预披露公告 梁敬华、彭惠萍保证向公司提供的信息内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 特别提示： 伊之密股份有限公司（以下简称"公司"）副董事长、实际控制人之一梁敬 华先生及公司董事、副总经理、实际控制人之一陈立尧先生的一致行动人彭惠 萍女士计划以集中竞价及大宗交易的方式减持公司股份。其中，梁敬华先生计 划通过大宗交易减持不超过 237 万股 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 27.71 yuan [3][6]. Core Insights - In Q3 2024, the company achieved revenue of 1.304 billion yuan, representing a year-on-year increase of 33.23% and a quarter-on-quarter decrease of 7.87%. The net profit attributable to shareholders was 181 million yuan, up 59.78% year-on-year and 1.17% quarter-on-quarter [2]. - For the first three quarters of 2024, total revenue reached 3.673 billion yuan, a year-on-year increase of 24.95%, with a net profit of 480 million yuan, up 31.71% year-on-year. The overall gross margin for Q3 was 35.01%, an increase of 0.87 percentage points year-on-year, and the net profit margin was 14.36%, up 2.56 percentage points year-on-year [2]. - The company’s three main business segments saw significant revenue growth in H1 2024, with injection molding machines generating 1.708 billion yuan (up 16.29% year-on-year), die-casting machines at 417 million yuan (up 35.3% year-on-year), and rubber machines at 96 million yuan (up 22.55% year-on-year) [2]. - The company has expanded its overseas sales, with strong performance in the injection molding machine market. The overseas production capacity includes factories in the USA, India, and Mexico, along with service centers in Germany, Brazil, and Vietnam [2]. Financial Summary - The company’s revenue for 2022 was 3.68 billion yuan, with a projected increase to 4.851 billion yuan in 2024, reflecting a year-on-year growth of 18.4%. The net profit attributable to shareholders is expected to rise from 477 million yuan in 2023 to 651 million yuan in 2024, a growth of 36.4% [5]. - The earnings per share (EPS) are projected to be 1.39 yuan in 2024, increasing to 1.94 yuan by 2026. The average price-to-earnings ratio for comparable companies in 2025 is estimated at 17 times [3][5].

就是还有一个原因应该是说最近这个大触的活动比较多所以的话就是这些的一些需求也在起来至于你说这个后续的一个持续性的这个其实不管是哪个行业它总是有一波行情或者有长有短然后今年表现比较好就还是以家电的为主 啊明白好的好的呃然后汽车这块其实呃之前是说可能三季度以来会比下半年会比上半年更好一点就是现在其实看下来整个区域还是相对来说比较平稳是吧呃今年汽车相对比较平稳明白好的好的呃然后就是在在就这个先就这个住宿机这块的一个具体的情况再跟您呃具体请教一下就是说首先 那个三级路情况我这边就不再继续追问了就是如果各位领导感兴趣的话也可以看一下这个三级报交流的一个情况我就不再追问这些具体数据了就是主要是想细拆一下就比如说可能就是我们还没有披露的这个比如说像今年的销售里面比如说三板机还有两板机的一个大致的一个占比然后包括液压和全电动的这块的一个占比就是想看一下细分品类的一些具体的情况 如果是三板机跟二板机相比起来今年应该总体来说三板机的一个增速也不是增速相对三板机还是会销售会更快一点因为今年是比较好的一些行业都是以一些以中小机型为主的一些行业所以三板机的一个增速会比二板机要稍微更快一点点 然后从液压跟全电的比较起来呢今年其实全面的一 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 23.9 yuan [6] Core Views - The company's Q3 2024 performance exceeded expectations, with significant growth in revenue and net profit [1][2] - The company's gross margin and net profit margin improved year-over-year, indicating strong profitability [1][2] - The company's plastic injection molding machine business is leading the industry, with a high market share and growth potential [3] - The company's die-casting machine business is well-positioned to benefit from the growing demand for large-scale die-casting machines in the automotive industry, particularly for new energy vehicles [4] Financial Performance Summary Q3 2024 Performance - Revenue reached 13.04 billion yuan, up 33.23% YoY and down 7.87% QoQ [2] - Net profit attributable to the parent company was 1.81 billion yuan, up 59.78% YoY and down 1.17% QoQ [2] - Gross margin was 35.01%, up 0.87 percentage points YoY and 2.21 percentage points QoQ [2] 2024E-2026E Financial Forecast - Revenue is expected to grow from 5.16 billion yuan in 2024E to 6.82 billion yuan in 2026E, with a CAGR of 15.2% [5] - Net profit attributable to the parent company is forecasted to increase from 650.83 million yuan in 2024E to 911.29 million yuan in 2026E, with a CAGR of 18.4% [5] - The company's PE ratio is expected to decline from 17.52x in 2024E to 12.52x in 2026E, indicating potential undervaluation [5] Industry Analysis Plastic Injection Molding Machines - The global plastic injection molding machine market is projected to reach 141.4 billion yuan by 2028, with a CAGR of 4.5% from 2020 to 2028 [3] - The domestic market in China has achieved import substitution, with the company holding a leading market share of over 40% [3] Die-Casting Machines - The die-casting machine market is primarily driven by the automotive industry, accounting for over 60% of downstream applications [4] - The demand for large-scale die-casting machines (over 6000T) is increasing due to the adoption of integrated die-casting technology in the automotive sector [4] - The company has a competitive advantage in the die-casting machine market, with a product portfolio that includes machines with a maximum clamping force of 9000T [4] Valuation and Financial Ratios - The company's P/E ratio is expected to decrease from 17.52x in 2024E to 12.52x in 2026E, indicating potential undervaluation [5] - The company's P/B ratio is forecasted to decline from 3.78x in 2024E to 2.84x in 2026E, suggesting a more attractive valuation [5] - The company's EV/EBITDA ratio is expected to decrease from 11.83x in 2024E to 8.16x in 2026E, further supporting the undervaluation thesis [5]

Investment Rating - The investment rating for the company is "Outperform the Market" [6] Core Views - The company achieved a revenue of 3.673 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 24.95%, while the net profit attributable to shareholders increased by 31.71% to 480 million yuan [1][3] - The third quarter of 2024 saw a significant revenue increase of 33.23% year-on-year, driven by a recovery in the injection molding machine industry and an increase in market share [1][3] - The company's gross margin and net margin improved to 34.10% and 13.43% respectively in the first three quarters of 2024, reflecting better cost control and a favorable pricing environment [2][3] Summary by Relevant Sections Financial Performance - For the first three quarters of 2024, the company reported a gross margin of 34.10% and a net margin of 13.43%, with improvements of +0.97 and +0.66 percentage points year-on-year respectively [2] - The third quarter gross margin and net margin were 35.01% and 14.36%, showing year-on-year increases of +0.87 and +2.56 percentage points [2] Market and Industry Trends - The domestic downstream sectors are experiencing a recovery, particularly in the automotive industry, which is the largest segment for the company [3] - The company has established a global strategy with over 40 overseas distributors, covering more than 70 countries and regions, leading to faster growth in overseas sales compared to the industry average [3] Investment Recommendations - The company is positioned as a leading supplier of molding equipment in China, benefiting from industry recovery, market share gains, and export growth [3] - The profit forecast for 2024-2026 has been slightly adjusted upwards, with expected net profits of 622 million, 749 million, and 857 million yuan respectively [3]

%% %% 丨证券研究报告丨 公司研究丨点评报告丨伊之密（300415.SZ） [Table_Title] 伊之密：Q3 业绩超预期，规模效应带动盈利能 力提升 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | 报告要点 | | | [Table_Summary] 24Q3 营收 13.04 亿元，同比 +33.23% ；归母净利润 1.81 亿元，同比 +59.78% ；扣非归母净利 | | | 润 1.77 亿元，同比 +73.76% 。公司增长持续提速，一方面或受益于下游家电、日用品等行业持 续回暖及新兴市场需求释放、中国制造业产能逐步转移等因素，另一方面也受益于公司自身α | | | 增强，新产品持续迭代助推公司市占率提升。在注塑机出海趋势下，持 ...

任何机构或个人不得以任何形式转发、翻版、复制、发布或引用本次会议全部或部分内容不得制作会议纪要对外发送但对制作会议纪要引起不断传播的复古自复为保证会议流畅进行目前所有线上投资者均处于静音状态在主讲嘉宾发言结束后将留有提问时间 下面介绍出席本次会议的公司领导伊兹尼副总经理兼董事会秘书肖总证券事务代表陈总下面有请领导发言各位投资者大家上午好欢迎大家参加我们这次的3G报的业绩解读吧在昨天晚上伊兹尼 发布了2024年三季度的报告我们前三季度营业收入应该是到了36.73同比增长25%规模经营润为4.81同比增长31%其中第三季度的营业收入到了13.04同比增长33%规模经营润1.8 同比增长59%那个整体来看的话今年三季度的情况应该是有一个非常不错的一个同比增幅应该说是上半年比较好的一些那个订单情况在三季度有一个比较好的一个落地公司的业绩也得到了比较充分的一个反应 因为三星豆报告比较简单我就简单介绍这么多就是看各位投资对我们的三星豆有什么疑问可以单独提出来我逐一的解答谢谢大家谢谢肖总的分享接下来进入互动交流环节欢迎各位投资者积极提问电话端的投资者可输入数字五件申请提问 在允许发言后按数字六件可解除禁音网络端的投资者可点 ...

股 票 研 究 公 司 更 新 报 告 证 券 研 究 报 告 | --- | --- | --- | --- | --- | --- | |--------------------------------------|--------|-------|-------|------------------------------------------------------------------------------------------------------------|-------| | [Table_Finance] 财务摘要（百万元） | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业收入 | 3,680 | 4,096 | 5,062 | 6,106 | 7,072 | | (+/-)% | 4.2% | 11.3% | 23.6% | 20.6% | 15.8% | | 净利润（归母） | 405 | 477 | 597 | 798 | 958 | | (+/-)% | -21.4% | 17.7% | 25.2% | 33.6% 国泰君安版权 ...