证券代码：835174 证券简称：五新隧装 公告编号：2024-093 湖南五新隧道智能装备股份有限公司 关于本次交易停牌前一个交易日前十大股东和前十大无限售条件流 通股股东持股情况的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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 带法律责任。 湖南五新隧道智能装备股份有限公司（以下简称"公司"）拟以发行股份并 支付现金方式购买湖南中铁五新重工有限公司（简称"五新重工"）股东所持有 的五新重工 100%股权、怀化市兴中科技股份有限公司（简称"兴中科技"）股 东所持有的兴中科技 100%股权，并募集配套资金（简称"本次交易"）。 为保证公平信息披露，维护投资者利益，避免造成公司股价异常波动，根据 《北京证券交易所股票上市规则（试行）》第 9.2.1 条、《北京证券交易所上市 公司重大资产重组业务指引》等相关规定，经向北京证券交易所申请，公司股票 自 2024 年 11 月 26 日起停牌，预计将于 2024 年 12 月 10 日前复牌。具体内容详 见公司在北京证券交易所指定披露平台（www.bse.cn）上披露 ...

Investment Rating - The report maintains a "Buy" rating for Wuxin Tunnel Equipment (835174 BJ) [2] Core Views - Wuxin Tunnel Equipment plans to issue shares to acquire Wuxin Heavy Industry and Xingzhong Technology, aiming to expand its business in railway and highway construction equipment [2] - The company's revenue for Q1-3 2024 was 604 million yuan, a year-on-year decrease of 14 11%, while net profit attributable to shareholders was 93 95 million yuan, down 19 10% [3] - The report highlights strong growth in the aftermarket, with aftermarket revenue increasing by 115 88% year-on-year, and significant growth in the water conservancy and hydropower (89 86%) and mining (115 65%) sectors [3] - The company's stock is expected to resume trading on December 10, 2024, following the acquisition announcement [3] Financial Performance and Forecast - The report forecasts net profit attributable to shareholders for 2024-2026 at 162 million yuan, 193 million yuan, and 230 million yuan, respectively, with EPS of 1 80 yuan, 2 14 yuan, and 2 55 yuan [3] - The current P/E ratio is 15 1x for 2024, 12 7x for 2025, and 10 7x for 2026 [3] - Revenue for 2024-2026 is projected at 925 million yuan, 1 106 billion yuan, and 1 313 billion yuan, with year-on-year growth rates of -3 1%, 19 6%, and 18 7%, respectively [6] - Gross margin is expected to remain stable, increasing slightly from 37 3% in 2024 to 37 6% in 2026 [6] Business Segments - The water conservancy and hydropower sector, along with mining, contributed 11 61% of total revenue in Q1-3 2024, up from 4 94% in the same period last year [3] - The aftermarket segment's revenue share increased to 7 06% in Q1-3 2024, compared to 2 81% in the same period last year [3] Acquisition Details - Wuxin Tunnel Equipment plans to acquire 100% equity of Wuxin Heavy Industry and Xingzhong Technology through a combination of share issuance and cash payment [3] - The acquisition is expected to enhance the company's growth in railway and highway construction equipment manufacturing [3] Financial Ratios - The company's ROE is projected to be 19 3% in 2024, 19 2% in 2025, and 19 1% in 2026 [6] - The net profit margin is expected to remain stable at around 17 5% from 2024 to 2026 [6] - The P/B ratio is forecasted to decrease from 2 9x in 2024 to 2 0x in 2026 [6]

Core Viewpoint - The announcement of Wuxin Tunnel Equipment's acquisition of 100% equity in Wuxin Heavy Industry and Xiongzhong Technology marks the first project of share issuance for asset acquisition on the Beijing Stock Exchange following the release of the "Six Opinions on Deepening the Reform of Mergers and Acquisitions and Restructuring of Listed Companies" [1][7] Group 1: Company Overview - Wuxin Tunnel Equipment specializes in the research, design, production, sales, and service of intelligent equipment for tunnel construction and mining, recognized as a national-level "Little Giant" enterprise [2] - The target companies, Wuxin Heavy Industry and Xiongzhong Technology, are also national-level "Little Giant" enterprises, with Wuxin Heavy Industry focusing on high-end intelligent lifting equipment for port terminals and Xiongzhong Technology being a supplier of specialized equipment and system solutions for transportation infrastructure [2] Group 2: Financial Performance - In 2023, Wuxin Tunnel Equipment achieved a historical high in operating revenue of 954 million yuan, a year-on-year increase of 76.34%, and a net profit attributable to shareholders of 164 million yuan, up 110.55% [4] - For the first three quarters of 2024, the company reported operating revenue of 604 million yuan, a decrease of 14.11% year-on-year, and a net profit of approximately 93.95 million yuan, down 19.10% [5] Group 3: Strategic Implications - The acquisition is expected to enhance Wuxin Tunnel Equipment's comprehensive strength in the manufacturing of specialized equipment for railway and highway construction, while also entering the high-end equipment manufacturing sector for ports, creating a new growth driver [4] - The company aims to achieve a sales scale exceeding 10 billion yuan within ten years, with the acquisition of quality assets and expansion of business scale being crucial steps towards this strategic goal [4] Group 4: Market Context - The current investment in high-grade waterways across various regions is opening new growth opportunities for port equipment, indicating a favorable market environment for the acquisition [3] - The Beijing Stock Exchange is actively promoting mergers and acquisitions as a means for companies to diversify and enhance their core competitiveness, particularly for innovative small and medium-sized enterprises [7]

文/梧桐兄弟 11月25日晚，北交所上市公司五新隧装（835174）发布公告，公司拟以发行股份并支付现金方式购买湖南中铁五新重工有限公司（简称"五新重工"）股东所持有的 五新重工100%股权、怀化市兴中科技股份有限公司（简称"兴中科技"）股东所持有的兴中科技 100%股权，并配套募集资金。 公司股票自2024年11月26日起停牌，预计将于2024年12月10日前复牌。交易目前正处于筹划阶段， 交易各方尚未签署正式的交易协议。 据查阅，这是《关于深化上市公司并购重组市场改革的意见》（简称"并购六条"）发布后， 北交所上市公司启动发股买资产的首单项目。 五新隧装成立于2010年8月，2021年11月15日北交所上市，是首批从新三板精选层平移到北交所交易的企业之一。 公司属于（C35）专用设备制造业，专业从事隧道施工与矿山开采智能装备的研发设计、生产、销售及服务，业务遍及铁路、公路、水利水电、地下洞库、非煤矿 山开采等领域。 2023年，公司实现营业收入9.54 亿元，同比增长76.34%；实现归属于上市公司股东的净利润1.64亿元，同比增长110.55%。 据2023年年度报告披露，截至2023年末，公司实际控制 ...

证券代码：835174 证券简称：五新隧装 公告编号：2024-092 为保证公平信息披露，维护投资者利益，避免造成公司股价异常波动，根据 《北京证券交易所股票上市规则（试行）》第 9.2.1 条、《北京证券交易所上市公 司重大资产重组业务指引》等相关规定，申请公司股票停牌。 二、停牌日期及预计复牌日期 湖南五新隧道智能装备股份有限公司 关于筹划发行股份及支付现金购买资产并配套募集资金事项的停牌 公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 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 别及连带法律责任。 一、停牌情况概述 重大事项的具体内容是： （一）停牌事项类别 公司本次申请股票停牌的事项类别为： √重大事项 □向境内其他证券交易所申请股票转板 □未在规定期限内披露季度报告 □股票交易异常波动 □退市相关 □规定的其他停牌事项 √发行股份购买资产 □筹划控制权变动 □涉及要约收购 □涉及破产重整 □北京证券交易所认定的其他重大事项 （二）停牌情况及规则依据 湖南五新隧道智能装备股份有限公司（简称"公司"或"五新隧装"）拟以 发行股份并支付现金方式购买湖南中 ...

证券代码：835174 证券简称：五新隧装 公告编号：2024-092 湖南五新隧道智能装备股份有限公司 关于筹划发行股份及支付现金购买资产并配套募集资金事项的停牌 公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 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 别及连带法律责任。 一、停牌情况概述 重大事项的具体内容是： 湖南五新隧道智能装备股份有限公司（简称"公司"或"五新隧装"）拟以 二、停牌日期及预计复牌日期 经向北京证券交易所申请，本公司股票自 2024 年 11 月 26 日起停牌，预计 将于 2024 年 12 月 10 日前复牌。 三、后续安排 停牌期间公司将根据重大事项的进展情况，及时履行信息披露义务，待完成 事项筹划、停牌期限届满后将及时申请股票复牌。 本次交易目前正处于筹划阶段，交易各方尚未签署正式的交易协议，具体交 易方案仍在商讨论证中，尚存在不确定性。本次交易尚需公司董事会、股东大会 审议，并需经有权监管机构批准，能否通过审批尚存在不确定性，敬请广大投资 者注意投资风险。 四、备查文件目录 （一）停牌事项类别 公司本次申请股票停牌的事项类别 ...

第一章 总则 第一条 为提高湖南五新隧道智能装备股份有限公司（以下简称"公司"） 应对各类舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情 对公司股价、商业信誉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，根据相关法律法规、规范性文件以及《湖南五新隧道智能装备股份有限公司 章程》（以下简称"《公司章程》"），特制定本制度。 第二条 本制度所称舆情包括： 证券代码：835174 证券简称：五新隧装 公告编号：2024-091 湖南五新隧道智能装备股份有限公司 舆情管理制度 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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 带法律责任。 一、 审议及表决情况 2024 年 10 月 23 日，公司召开了第四届董事会第二次会议，审议通过了《关 于制定<湖南五新隧道智能装备股份有限公司舆情管理制度>的议案》；议案表决 结果：同意 7 票，反对 0 票，弃权 0 票。 本议案无需提交股东大会审议。 二、 制度的主要内容，分章节列示： （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 ...

证券代码：835174 证券简称：五新隧装 公告编号：2024-088 湖南五新隧道智能装备股份有限公司 第四届董事会第二次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 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 别及连带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2024 年 10 月 23 日 2.会议召开地点：公司 1 号会议室 3.会议召开方式：现场+通讯会议 4.发出董事会会议通知的时间和方式：2024 年 10 月 21 日以通讯方式发出 5.会议主持人：董事长杨贞柿先生 6.会议列席人员：全体监事、全体高管 7.召开情况合法、合规、合章程性说明： 本次会议的召集、召开、议案审议程序符合有关法律、行政法规、部门规章、 规范性文件和《公司章程》的规定。 （二）会议出席情况 1.会议应出席董事 7 人，出席和授权出席董事 7 人。 董事王薪程因工作原因缺席，委托董事杨贞柿代为表决。 董事张维友、袁凌、周兰因工作原因以通讯方式参与表决。 2.全体监事、全体高管列席会议。 二、议案审议情况 （一）审议通过《关于<20 ...

Financial Performance - Operating revenue for the first nine months of 2024 was approximately CNY 603.85 million, a decrease of 14.11% year-over-year[6] - Net profit attributable to shareholders for the first nine months of 2024 was approximately CNY 93.95 million, down 19.10% from the same period in 2023[6] - In Q3 2024, operating revenue was approximately CNY 199.09 million, representing a decline of 25.64% compared to Q3 2023[8] - The net profit attributable to shareholders in Q3 2024 was approximately CNY 24.32 million, a decrease of 44.66% year-over-year[8] - Total operating revenue for the first nine months of 2024 is 603,854,210.22 CNY, a decrease of 14.14% compared to 703,046,326.12 CNY in the same period of 2023[28] - Net profit for the first nine months of 2024 is 93,947,506.65 CNY, a decrease of 19.11% from 116,121,993.81 CNY in the same period of 2023[29] - Operating profit for the first nine months of 2024 is 103,826,142.19 CNY, down 19.14% from 128,383,166.29 CNY in the same period of 2023[29] - The total profit for the first nine months of 2024 was CNY 103,908,659.80, down 19.3% from CNY 128,794,743.54 in 2023[31] Cash Flow - The company reported a significant increase in cash flow from operating activities, with a net cash flow of approximately CNY 71.86 million in Q3 2024, up 1,261.16% from the previous year[8] - The company's cash flow from operating activities netted ¥86,993,162.48, a 37.87% increase compared to the previous year, driven by reduced payments to suppliers and increased cash receipts[12] - Cash flow from operating activities generated a net amount of CNY 86,993,162.48, an increase of 37.83% compared to CNY 63,099,702.12 in the same period of 2023[34] - Cash inflow from investment activities was CNY 190,871,449.83, an increase of 18.8% compared to CNY 160,600,605.38 in 2023[36] - Net cash flow from investment activities was negative at CNY -51,475,641.17, worsening from CNY -31,205,260.84 in the same period last year[36] - Cash inflow from financing activities was CNY 24,899,589.00, with no inflow recorded in the previous year[36] - Total cash outflow from financing activities increased to CNY 73,311,121.80, compared to CNY 27,002,615.40 in 2023[36] Assets and Liabilities - Total assets as of September 30, 2024, reached approximately CNY 1.13 billion, an increase of 7.49% compared to the end of 2023[5] - The company's total current assets amounted to ¥999,212,410.55, an increase from ¥922,664,655.82 as of December 31, 2023, reflecting a growth of approximately 8.5%[22] - The company's cash and cash equivalents decreased to ¥213,359,769.90 from ¥230,276,960.82, representing a decline of about 7.9%[22] - Current liabilities rose to ¥385,745,136.15 from ¥352,647,764.30, an increase of about 9.37%[26] - Total liabilities amounted to ¥374,615,418.85, up from ¥342,445,430.46, indicating an increase of about 9.00%[24] - The company's equity increased to ¥752,156,850.33 from ¥705,840,365.55, representing a growth of about 6.53%[24] Shareholder Information - Basic earnings per share for Q3 2024 were CNY 0.27, a decrease of 44.90% compared to CNY 0.49 in Q3 2023[8] - The total number of ordinary shares at the end of the reporting period was 90,008,718, with a decrease in unrestricted shares to 49,546,705[14] - The company repurchased 2,399,670 shares under its share buyback plan, with inventory shares increasing by 69.10% to ¥10,777,981.61[11] Market Performance - Revenue from the hydropower and mining markets grew significantly, with hydropower revenue increasing by 89.86% and mining revenue by 115.65% year-over-year[9] - The gross profit margin for the main engine segment was 35.18%, an increase of 0.76 percentage points compared to the previous year[9] Expenses - Research and development expenses for the first nine months of 2024 are 32,240,173.54 CNY, a decrease of 22.00% compared to 41,289,216.87 CNY in the same period of 2023[28] - The company reported a decrease in tax expenses to CNY 9,836,807.67 in 2024 from CNY 13,419,349.38 in 2023, a reduction of approximately 26.5%[31] - The company recorded a decrease in sales expenses to CNY 68,851,186.81 in 2024 from CNY 55,057,975.95 in 2023, indicating an increase of approximately 24.9%[31] Other Financial Metrics - The weighted average return on equity based on net profit attributable to shareholders was 13.27% for the first nine months of 2024, down from 18.59% in the same period last year[7] - Non-recurring gains totaled ¥3,983,168.66, primarily from government subsidies and other income sources[13]

证券代码：835174 证券简称：五新隧装 公告编号：2024-089 湖南五新隧道智能装备股份有限公司 第四届监事会第二次会议决议公告 本公司及监事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2024 年 10 月 23 日 2.会议召开地点：公司 1 号会议室 3.会议召开方式：现场+通讯会议 4.发出监事会会议通知的时间和方式：2024 年 10 月 21 日以通讯方式发出 5.会议主持人：监事会主席谢建均先生 6.召开情况合法、合规、合章程性说明： 本次监事会会议的召集、召开、议案审议程序等方面符合有关法律、行政法 规、部门规章、规范性文件和《公司章程》的规定。 （二）会议出席情况 1.会议应出席监事 3 人，出席和授权出席监事 3 人。 监事褚嘉林因工作原因以通讯方式参与表决。 2.公司董事/总经理龚俊、副总经理/董事会秘书崔连苹、财务总监杨娟列席 会议。 （3）提出本意见前，未发现参与《公司 2024 年第三季度报告》编制和审议 的人员存 ...