Investment Rating - The report assigns an "Accumulate" rating for Jiyang Precision, marking its first coverage [1][52]. Core Views - Jiyang Precision is a specialized high-tech enterprise engaged in the R&D, production, sales, and service of precision components, with a focus on high-quality mechanical and electronic parts widely used in electric tools, cleaning appliances, and the automotive sector [2][13]. - The company has experienced rapid growth, with revenue increasing from 160 million yuan in 2017 to 460 million yuan in 2023, representing a CAGR of 19%, while net profit grew from 22 million yuan to 43 million yuan, with a CAGR of 12% [2][21]. - The automotive parts business has become a new growth driver, with significant revenue contributions and a CAGR of 45% from 82 million yuan in 2020 to 251 million yuan in 2023 [16][18]. Summary by Sections 1. Company Overview - Jiyang Precision focuses on precision component manufacturing and has established partnerships with renowned manufacturers, including Makita, Ecovacs, Canon, and Bosch [13]. - The company has transitioned from home appliance components to automotive parts, with automotive components accounting for 55% of total revenue in 2023 [16][20]. 2. Automotive Industry Demand - The automotive parts industry in China has seen rapid growth, with revenues reaching 4,066.8 billion yuan in 2021 and projected to grow to 4,620 billion yuan by 2024 [31]. - The trend towards "electrification and lightweighting" is driving demand for aluminum die-casting components, with significant increases in aluminum usage in vehicles expected [3][41]. 3. Financial Performance - Jiyang Precision's revenue for the first half of 2024 was 242 million yuan, a year-on-year increase of 23.95%, with net profit reaching 26 million yuan, up 34.55% year-on-year [2][24]. - The company forecasts net profits of 60 million yuan, 75 million yuan, and 92 million yuan for 2024, 2025, and 2026, respectively, with corresponding dynamic P/E ratios of 24, 19, and 15 [52]. 4. Investment Outlook - Despite a higher valuation compared to peers, Jiyang Precision's leading technology and ongoing product development position it for continued growth [52]. - The report anticipates sustained growth in the automotive parts sector, with revenue growth rates projected at 25%, 15%, and 15% for 2024 to 2026 [45].

证券代码：836720 证券简称：吉冈精密 公告编号：2024-061 无锡吉冈精密科技股份有限公司高级管理人员辞职公告 本公司董事会于 2024 年 9 月 3 日收到副总经理 HER JUNYOUNG(许准宁)先生递交的 辞职报告，自 2024 年 9 月 3 日起辞职生效。上述辞职人员持有公司股份 0 股，占公司 股本的 0%。不是失信联合惩戒对象，辞职后不再担任公司其它职务。 （二）辞职原因 HER JUNYOUNG(许准宁)先生因个人原因申请辞去公司副总经理职务。 二、上述人员的辞职对公司产生的影响 （一）本次辞职未导致公司董事会成员人数低于法定最低人数，未导致公司监事会成员 人数低于法定最低人数，未导致职工代表监事人数少于监事会成员的三分之一，未 导致董事会中兼任高级管理人员的董事和由职工代表担任的董事人数超过公司董 事总数的二分之一，未导致董事会或者其专门委员会中独立董事所占的比例不符合 相关规则或者公司章程的规定，未导致独立董事中欠缺会计专业人士。 （二）对公司生产、经营上的影响 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、 ...

Intellectual Property and Awards - The company added 1 new invention patent during the reporting period, bringing the total to 163 patents, including 11 invention patents and 152 utility model patents[2]. - The company received the "2023 Excellent Supplier" award from Makita Corporation in June 2024[2]. - The company was recognized as a "2023 Wuxi Gazelle Enterprise" in March 2024[2]. - The company received multiple awards, including recognition as a "High-tech Enterprise" and "Specialized and New Enterprise" in Jiangsu Province, enhancing its industry reputation[24]. Financial Performance - Revenue for the current period reached ¥242,104,791.23, representing a year-over-year increase of 23.95% from ¥195,317,058.43[14]. - Net profit attributable to shareholders was ¥26,303,639.43, a 34.55% increase compared to ¥19,549,261.11 in the same period last year[14]. - The gross profit margin improved to 21.57%, up from 19.87% year-over-year[14]. - The company achieved a net profit growth rate of 35.18%, compared to a decline of 30.79% in the same period last year[18]. - The company reported a net profit margin improvement, with net income for the first half of 2024 expected to be higher than the previous year, although specific figures were not disclosed[94]. - The company's net profit for the first half of 2024 reached CNY 21,945,555.71, an increase from CNY 18,211,721.84 in the same period of 2023, representing a growth of approximately 15.05%[96]. Assets and Liabilities - Total assets increased by 22.16% to ¥758,312,508.98 from ¥620,745,793.28 at the end of the previous period[15]. - The debt-to-asset ratio (consolidated) rose to 41.16%, compared to 27.72% in the previous period[15]. - Total liabilities increased by 81.35% to CNY 312,094,221.69[25]. - The company's total assets increased from ¥620,745,793.28 to ¥758,312,508.98, representing a growth of about 22.2%[89]. - The total liabilities increased from ¥172,099,073.42 to ¥312,094,221.69, indicating a rise of approximately 81.5%[89]. Cash Flow - The net cash flow from operating activities was reported at ¥12,717,997.67, a significant increase of 596.29% from a negative cash flow of ¥2,562,606.04[17]. - Operating cash inflow for the first half of 2024 was CNY 219,966,762.17, an increase of 26.8% compared to CNY 173,531,333.44 in the same period of 2023[97]. - Cash inflow from financing activities increased to CNY 163,700,143.97, compared to CNY 52,600,001.00 in the first half of 2023[98]. - The ending cash and cash equivalents balance for the first half of 2024 was CNY 190,825,141.78, compared to CNY 80,934,351.24 at the end of the first half of 2023[98]. Research and Development - The company continues to focus on R&D and has implemented technical upgrades to improve automation and production efficiency[25]. - Research and development expenses rose by 22.85% to ¥10.34 million, representing 4.27% of operating revenue, indicating a commitment to innovation[32]. - Research and development expenses for the first half of 2024 amounted to ¥10,335,329.71, compared to ¥8,412,712.12 in the same period of 2023, showing an increase of about 23%[94]. Market and Production - The company operates in the manufacturing sector, specifically in the production of precision metal components[12]. - The company has entered mass production for several products, including battery pack heaters for BYD and NIO, and steering motor housings for Geely, contributing to sales growth[23]. - The company plans to continue expanding its market presence in the new energy vehicle sector, leveraging existing relationships with major clients like BYD and Geely[25]. - The company is focusing on the development of high-end precision metal products to meet the growing demand from major manufacturing sectors[27]. Shareholder and Equity Information - The total number of ordinary shares is 190,231,400[12]. - The actual controllers hold 121,082,560 shares, accounting for 63.65% of the total share capital, indicating a concentrated ownership structure[51]. - The company has implemented a cash dividend of CNY 1.58 per 10 shares to reward investors[25]. - The company has a total of 190,231,400 shares outstanding, with 49,599,709 shares being unrestricted, accounting for 26.07% of total shares[70]. Corporate Governance and Management - The company has a total of 9 board members and 3 supervisors[76]. - The financial director and board secretary positions have not changed during the reporting period[79]. - The company has appointed Zhang Yingjie as the Deputy General Manager and Director, effective from March 27, 2024[81]. - The company has a total of 4 senior management personnel[76]. Compliance and Risk Management - The company has not faced any delisting risks during the reporting period[6]. - The company has not engaged in any significant litigation, arbitration, or related party transactions during the reporting period[54]. - The company has not experienced significant changes in major risks during the reporting period, maintaining a focus on managing foreign exchange rate risks and overseas operational risks[56]. Accounting Policies and Financial Reporting - The financial statements were approved by the board of directors on August 28, 2024[114]. - The financial statements comply with the relevant accounting standards and accurately reflect the company's financial position and performance[118]. - The company has not reported any significant changes in accounting policies or estimates compared to the previous financial statements[113]. - The company recognizes financial assets or liabilities upon becoming a party to a financial instrument contract[127].

证券代码：836720 证券简称：吉冈精密 公告编号：2024-060 无锡吉冈精密科技股份有限公司 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、募集资金基本情况 经中国证券监督管理委员会证监许可（2021）3209 号《关于核准无锡吉冈 精密科技股份有限公司向不特定合格投资者公开发行股票的批复》文件核准，本 公司于 2021 年 11 月和 12 月，分 2 次通过向不特定合格投资者公开发行人民币 普通股 2,418.45 万股，发行价为每股人民币 10.50 元，募集资金总额为人民币 253,937,250.00 元，募集资金已于 2021 年 11 月 8 日和 2021 年 12 月 24 日扣除 承销费（含税）9,777,096.89 元后到账 244,160,153.11 元。募集资金扣除各项 发行费用（ 不含税） 10,315,180.50 元后实际募集资金净额为人民币 243,622,069.50 元。上述募集资金已经天衡会计师事务所（特殊普通合伙）出 具的天衡验字（2021）0 ...

无锡吉冈精密科技股份有限公司 2023 年年度权益分派方案已获 2024 年 5 月 16 日召开的股东大会审议通过，本次实施分配方案距离股东大会审议通过的时 间未超过两个月。 现将权益分派事宜公告如下： 证券代码：836720 证券简称：吉冈精密 公告编号：2024-055 无锡吉冈精密科技股份有限公司 2023 年年度权益分派实施公告 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。 本次权益分派基准日合并报表归属于母公司的未分配利润为 104,935,899.69 元，母公司未分配利润为 90,485,899.15 元。本次权益分派共计派发现金红利 30,056,561.20 元。 一、权益分派方案 1、本公司 2023 年年度权益分派方案为： 以公司现有总股本 190,231,400 股为基数，向全体股东每 10 股派 1.58 元人 民币现金。 2、扣税说明 （1）个人股东、投资基金适用股息红利差别化个人所得税政策, 个人股东、 投资基金持股 1 个月（含 1 个月）以内，每 10 股补缴税款 ...

证券代码：836720 证券简称：吉冈精密 公告编号：2024-054 无锡吉冈精密科技股份有限公司 2023 年年度股东大会决议公告 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 5 月 16 日 2.会议召开地点：：江苏省无锡市锡山区东昌路 22 号四楼公司会议室 3.会议召开方式：现场投票和网络投票相结合 4.会议召集人：董事会 5.会议主持人：董事长周延先生 6.召开情况合法、合规、合章程性说明： 会议的召集、召开、议案审议程序符合《公司法》等有关法律、法规和《公 司章程》的规定。 （二）会议出席情况 出席和授权出席本次股东大会的股东共 10 人，持有表决权的股份总数 125,533,318 股，占公司有表决权股份总数的 65.99%。 其中通过网络投票参与本次股东大会的股东共 0 人，持有表决权的股份总数 0 股，占公司有表决权股份总数的 0.00%。 （三）公司董事、监事、高级管理人员出席或列席股东大会情况 1.公 ...

江苏新苏律师事务所 关于无锡吉冈精密科技股份有限公司 2023年年度股东大会 之 法律意见书 地址：江苏省苏州市高新区邓尉路6号2楼 邮编：215011 电话：0512-67010501 传真：0512-67010500 二〇二四年五月 2023年年度股东大会之法律意见书 编号：（2024）新苏非诉字第220516号 江苏新苏律师事务所 法律意见书 江苏新苏律师事务所 关于无锡吉冈精密科技股份有限公司 致：无锡吉冈精密科技股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《上市公司股东大会规则》（下称"《股东大会规则》"）、《北京 证券交易所股票上市规则（试行）》(以下简称"《上市规则》") 等法律、法规、规范性文件和《无锡吉冈精密科技股份有限公司章程》 （以下简称"《公司章程》"）的有关规定，江苏新苏律师事务所（以 下简称"本所"）接受无锡吉冈精密科技股份有限公司（以下简称"公 司"）的委托，指派律师（以下称"本所律师"）出席公司2023年年 度股东大会（以下简称"本次股东大会"、"会议"），对本次股东 大会的召集和召开程序、出席会议人员的资格、召集人资格、会议表 决程序及表决结果事项 ...

Group 1: Company Overview - Wuxi Jiyang Precision Technology Co., Ltd. focuses on the R&D, production, and sales of precision components made from aluminum and zinc alloys, recognized as a high-tech enterprise in Jiangsu Province [7] - The company was awarded the "Top 50 Comprehensive Strength of Die Casting Enterprises" in November 2023 [7] Group 2: Financial Performance - As of the end of the reporting period, the company has utilized a total of ¥170,738,372.79 in raised funds, with ¥62,000,000.00 temporarily idle in cash management [5] - The company reported sales of automotive parts amounting to ¥25,145.59 million, contributing to 54.92% of total revenue [9] - The company plans to distribute a cash dividend of ¥1.58 per 10 shares, totaling an estimated cash dividend of ¥30,056,561.20 [11] Group 3: Investment and Market Position - The company has established a wholly-owned subsidiary in Mexico, with registration completed as of May 7, 2024 [4] - The company aims to strengthen its market position by enhancing customer relationships and expanding orders from existing clients [6] Group 4: Research and Development - The company has accumulated 152 patents, including 10 invention patents and 142 utility model patents, with 8 new invention patents added during the reporting period [8] - The company is focusing on the development of components for new energy vehicles, with significant growth potential in this market [12] Group 5: Competitive Landscape - The company faces competition in the new energy vehicle parts sector from competitors such as Jintuo Co., Rongtai Co., and Wencan Co. [15] - The company is committed to enhancing its technological capabilities and service levels to improve product cost and quality advantages [15]

证券代码：836720 证券简称：吉冈精密 公告编号：2024-050 无锡吉冈精密科技股份有限公司 对外投资（设立墨西哥全资子公司）进展公告 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。 公司名称：YOSHIOKA SEIKI MEXICO S.A. DE C.V. 一、对外投资事项概述 公司于2023年8月14日在北京证券交易所官网（http://www.bse.cn）披露了《对 外（设立墨西哥全资子公司）投资的公告》（公告编号：2023-047）。为满足公司整 体战略发展规划的需要，优化市场结构，开拓海外市场，进一步增强公司的综合竞争 力。无锡吉冈精密科技股份有限公司（以下简称：吉冈精密、公司）与公司的全资子 公司吉冈精密(维尔京群岛)有限公司（以下简称吉冈维尔京）拟在墨西哥新设立公司， 开展海外销售业务。拟新设公司注册资本100.00万元墨西哥比索，吉冈维尔京持股 99%，出资99.00万元墨西哥比索，吉冈精密持股1%，出资1.00万元墨西哥比索。新设 公司为吉冈精密的子公司，最终投资建设墨西 ...

证券代码：836720 证券简称：吉冈精密 公告编号：2024-049 无锡吉冈精密科技股份有限公司 2023 年年度报告说明会预告公告 无锡吉冈精密科技股份有限公司（以下简称"公司"）于 2024 年 4 月 25 日在 北京证券交易所官方信息披露平台（（http://www.bse.cn/）发布了《2023 年年度 报告》（公告编号：2024-026），为方便广大投资者更深入了解公司 2023 年年度 经营业绩的具体情况，加强与投资者的互动交流，公司拟召开 2023 年年度报告 业绩说明会。 二、 说明会召开的时间、地点 （一）会议召开时间：2024 年 5 月 13 日（周一）15:00-17:00。 （二）会议召开地点 本次业绩说明会将采用网络远程的方式举行，投资者可登录全景网"投资者 关系互动平台"（https://ir.p5w.net）参与本次年度报告业绩说明会。 三、 参加人员 （一）公司董事长、总经理：周延先生； （二）公司董事会秘书、财务总监：仲艾军先生； （三）公司保荐代表人：徐睿先生。 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 ...