Investment Rating - The report maintains a "Buy" rating for the company [3][5]. Core Views - The company reported a total revenue of 2.56 billion yuan and a net profit attributable to shareholders of 310 million yuan for Q1 2024, reflecting a year-on-year increase of 2.8% in revenue but a decline of 22.6% in net profit [2][3]. - The overseas building materials segment is under short-term pressure, but an increase in production and price hikes are expected in the future [3]. - The company has seen a significant increase in orders for ceramic machinery, with overseas orders rising from 55% at the end of 2023 to 65% in Q1 2024 [3]. - The lithium carbonate production and sales have also increased, with the company’s stake in Blue Lithium achieving a production volume of 8,700 tons and sales of 9,900 tons, marking a year-on-year increase of 38% and 607% respectively [3]. - The gross profit margin and net profit margin for Q1 2024 were reported at 26.9% and 15.9%, showing a decline of 5.4 and 6.5 percentage points year-on-year [3]. Summary by Sections Financial Performance - For 2024E, the company is projected to achieve a revenue of 12.26 billion yuan, with a growth rate of 26.43% compared to 2023 [5]. - The net profit attributable to shareholders is forecasted to be 1.92 billion yuan for 2024E, reflecting a decrease of 8.11% from 2023 [5]. - The earnings per share (EPS) for 2024E is estimated at 0.99 yuan, with a return on equity (ROE) of 14.92% [5]. Operational Insights - The company is expanding its overseas building materials capacity, with projects in Kenya, Cameroon, Tanzania, Peru, and Ivory Coast progressing [3]. - The financial expenses have significantly decreased, contributing to a positive operating cash flow of 100 million yuan in Q1 2024 [3]. Market Position - The company is leveraging its global sales network and multi-product chain to enhance its market position, particularly in Europe following the acquisition of Italian companies [3]. - The report indicates that the competitive landscape is expected to improve, which may lead to a recovery in profitability for the overseas building materials segment [3].

Financial Performance - In Q1 2024, the company achieved revenue of approximately 2.562 billion yuan, a year-on-year increase of 2.83% [2] - The net profit attributable to the parent company was 311 million yuan, with a non-recurring net profit of 276 million yuan [2] - The lithium battery materials business saw an increase in production and sales of negative electrode materials, but gross margins remained under pressure due to industry supply-demand dynamics and price declines [2] Business Segments Overview - The ceramic machinery business experienced significant growth in overseas orders, which accounted for over 65% of total orders [2] - In 2023, the company produced approximately 150 million square meters of tiles, generating revenue of 3.655 billion yuan [3] - The company plans to support high-end brand cultivation to enhance overall profitability in the ceramic tile segment [3] Market Challenges - The ceramic tile sales prices faced pressure due to structural competition in certain regions, leading to a compression of overall profit margins [2] - The overseas building materials business experienced a slowdown in revenue growth in 2023, primarily due to currency depreciation in several African countries and increased local competition [3][8] - The company reported a gross margin of 35.7% for its overseas building materials business, with rising financial costs impacting profitability [8] Strategic Initiatives - The company aims to achieve a sales revenue target of 12 billion yuan for 2024, with expectations of growth across all business segments [3] - The company is expanding its production capacity in Africa, with projects in Cameroon and Côte d'Ivoire expected to contribute to future revenue [9] - The company is focusing on enhancing its global sales network and localizing operations to improve competitiveness in overseas markets [6] Employee and Management Strategies - The company has implemented employee incentive plans, including stock options and employee shareholding programs, to align employee interests with company growth [12] - The management team is actively working on optimizing production processes and reducing costs to improve overall business efficiency [12]

Investment Rating - The report maintains a "Buy" rating for the company, with an expected relative return of over 20% within the next six months [6][4]. Core Viewpoints - The company's performance has been under pressure, with a focus on expanding overseas business, which is expected to drive future growth [1][4]. - The overseas sales of building materials are anticipated to become a core variable for the company's performance and valuation, supported by high gross margins and growth potential [1][4]. - The report highlights the significant contribution of overseas orders, which accounted for over 65% of total orders in Q1 2024, despite challenges in pricing for certain products [2][4]. Financial Performance Summary - In Q1 2024, the company achieved revenue of 2.562 billion yuan, a year-on-year increase of 2.83%, while net profit attributable to shareholders was 311 million yuan, a decrease of 22.6% [1][3]. - The gross margin for Q1 2024 was 26.8%, down 5.37 percentage points year-on-year, with a net profit margin of 15.92%, down 6.53 percentage points year-on-year [3][4]. - Cash flow from operations improved significantly, with a net cash inflow of 104 million yuan, an increase of 588 million yuan year-on-year, and a cash collection ratio of 108.84%, up 31.79% year-on-year [3][4]. Business Segment Analysis - The building materials machinery segment saw rapid growth in orders, benefiting from a global sales network, with overseas orders exceeding 65% [2][4]. - The overseas building materials sales segment is expanding, with several projects in Kenya, Cameroon, Tanzania, Peru, and Ivory Coast expected to contribute to revenue and profit growth [2][4]. - The lithium battery materials segment experienced an increase in production and sales volume, but profitability was pressured by industry supply-demand dynamics and price declines [2][4]. Financial Forecasts - The company is projected to achieve net profits of 1.74 billion yuan, 1.93 billion yuan, and 2.24 billion yuan for the years 2024, 2025, and 2026, respectively, reflecting a year-on-year decrease of 17.0% in 2024, followed by growth of 11.4% and 16.0% in the subsequent years [4][5]. - Revenue is expected to grow from 9.70 billion yuan in 2023 to 11.97 billion yuan in 2024, representing a growth rate of 23.46% [5][12].

Investment Rating - The report maintains a "Recommended" rating for the company, with a current price of 9.77 yuan and projected PE ratios of 11, 10, and 9 for the years 2024 to 2026 [4][5]. Core Insights - The company's revenue for Q1 2024 reached 2.562 billion yuan, a year-on-year increase of 2.83%, while net profit attributable to shareholders was 311 million yuan, a decrease of 22.60% year-on-year [1][2]. - The global strategy in the large building materials sector is showing advantages, contributing to revenue growth, particularly in the ceramic machinery and overseas building materials business [2][3]. - The company plans to cancel 30,563,538 shares, which will enhance the earnings per share and long-term investment value [4]. Summary by Sections Financial Performance - In Q1 2024, the company reported a gross margin of 26.85%, down 5.37 percentage points year-on-year, and a net margin of 15.92%, down 6.53 percentage points year-on-year [1]. - The contribution from Blueco Lithium, in which the company holds a 43.58% stake, was 101 million yuan to the net profit, showing a significant improvement compared to the previous year [3]. Business Strategy - The company is expanding its overseas operations, with over 65% of orders coming from international markets, and is actively developing projects in Kenya, Cameroon, Tanzania, and other regions [2][4]. - The company is also enhancing its supply chain and service network through the establishment of factories and offices in Turkey, Indonesia, Eastern Europe, and Mexico [2]. Future Projections - The company expects net profits attributable to shareholders to be 1.73 billion yuan in 2024, 1.92 billion yuan in 2025, and 2.20 billion yuan in 2026, with corresponding PE ratios of 10, 9, and 9 [4][5].

科达制造 2023 年年度股东大会会议资料 2023 年年度股东大会议程安排 2023 年年度股东大会议程安排 一、会议时间：2024 年 5 月 8 日 14 点 30 分 科达制造股份有限公司 2023年年度股东大会 会议资料 二〇二四年四月 二、会议地点：广东省佛山市顺德区陈村镇广隆工业园环镇西路 1 号总部大 楼 101 会议中心 三、会议主持：边程 董事长 四、会议议程安排： | 序号 | 会议议程 | 解释人 | 页码 | | --- | --- | --- | --- | | 1 | 宣布本次大会开始 | 边程 | -- | | 2 | 宣读本次大会出席情况 | 彭衡湘 | -- | | 3 | 审议《2023 年度董事会工作报告》 | 李跃进 | 3 | | 4 | 审议《2023 年度监事会工作报告》 | 彭衡湘 | 12 | | 5 | 审议《2023 年度独立董事述职报告》 | 独立董事 | 15 | | 6 | 审议《2023 年度财务决算报告》 | 曾飞 | 21 | | 7 | 审议《2023 年度利润分配方案》 | 李跃进 | 29 | | 8 | 年年度报告及摘要》 审议《20 ...

科达制造股份有限公司 防范控股股东、实际控制人及其他关联方 资金占用管理办法 第一章 总则 本办法所称的关联方是指根据相关法律、法规和《股票上市规则》所界定的关 联方。 第五条 本办法所称资金占用包括但不限于以下方式： （一）经营性资金占用：指控股股东、实际控制人及其他关联方通过采购、销 售、相互提供劳务等生产经营环节的关联交易产生的资金占用； （二）非经营性资金占用：指公司为控股股东、实际控制人及其他关联方垫付 工资、福利、保险、广告等费用和其他支出；为控股股东、实际控制人及其他关联 第一条 为了进一步规范科达制造股份有限公司（以下简称"公司"）控股股东、 实际控制人及其他关联方行为，建立防止控股股东、实际控制人及其他关联方占用 资金的长效机制，杜绝控股股东、实际控制人及其他关联方资金占用行为的发生， 根据《中华人民共和国公司法》《上市公司治理准则》《上市公司监管指引第 8 号— —上市公司资金往来、对外担保的监管要求》《上海证券交易所股票上市规则》（以 下简称"《股票上市规则》"）等有关法律、法规、规范性文件以及《公司章程》的 有关规定，特制定本办法。 第二条 本办法适用于公司及全资子公司、控股子公司。 ...

科达制造股份有限公司 章 程 二〇二四年四月 | 第一章 | 总则 3 | | --- | --- | | 第二章 | 经营宗旨和范围 4 | | 第三章 | 股份 4 | | 第一节 | 股份发行 4 | | 第二节 | 股份增减和回购 5 | | 第三节 | 股份转让 6 | | 第四章 | 股东和股东大会 7 | | 第一节 | 股东 7 | | 第二节 | 股东大会的一般规定 10 | | 第三节 | 股东大会的召集 14 | | 第四节 | 股东大会的提案与通知 15 | | 第五节 | 股东大会的召开 16 | | 第六节 | 股东大会的表决和决议 19 | | 第五章 | 董事会 23 | | 第一节 | 董事 23 | | 第二节 | 董事会 26 | | 第六章 | 总经理及其他高级管理人员 31 | | 第七章 | 监事会 32 | | 第一节 | 监事 32 | | 第二节 | 监事会 33 | | 第八章 | 财务会计制度、利润分配和审计 34 | | 第一节 | 财务会计制度及利润分配 34 | | 第二节 | 内部审计 39 | | 第三节 | 会计师事务所的聘任 39 | | 第 ...

证券代码：600499 证券简称：科达制造 公告编号：2024-032 科达制造股份有限公司 关于 2023 年年度股东大会增加临时提案的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 一、 股东大会有关情况 1. 股东大会的类型和届次： 2023 年年度股东大会 2. 股东大会召开日期：2024 年 5 月 8 日 2. 提案程序说明 公司已于 2024 年 3 月 26 日公告了股东大会召开通知，单独或者合计持有 5.07%股份的股东边程，在 2024 年 4 月 25 日提出临时提案并书面提交股东大会 召集人。股东大会召集人按照《上市公司股东大会规则》有关规定，现予以公告。 3. 临时提案的具体内容 | 序号 | 议案名称 | | --- | --- | | 1 | 《关于变更部分回购股份用途并注销的议案》 | | 2 | 《关于变更注册资本并修订<公司章程>的议案》 | 上 述 临 时 提 案 具 体 内 容 ， 详 见 公 司 同 日 于 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露 ...

科达制造股份有限公司（以下简称"公司"）第八届董事会第二十九次会议 通知于 2024 年 4 月 19 日以通讯方式发出，并于 2024 年 4 月 26 日在公司总部 大楼会议室以现场结合通讯方式召开。本次会议由董事长边程先生主持，会议应 到董事 12 人，实到董事 12 人，授权代表 0 人。全体监事及高级管理人员列席了 会议，符合《公司法》及《公司章程》的有关规定。会议通过记名投票的方式， 审议通过了以下议案： 一、审议通过《2024 年第一季度报告》 本议案表决结果：同意 12 票，反对 0 票，弃权 0 票。 证券代码：600499 证券简称：科达制造 公告编号：2024-026 科达制造股份有限公司 第八届董事会第二十九次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 本议案已经公司董事会审计委员会审议通过。具体内容详见公司同日于上海 证券交易所网站（www.sse.com.cn）披露的《2024 年第一季度报告》。 二、审议通过《关于控股子公司增资扩股暨关联交易的议案》 随着公司业务从陶瓷机械延伸至 ...

科达制造股份有限公司 董事会审计委员会实施细则 第一章 总则 第一条 为进一步提高科达制造股份有限公司（以下简称"公司"）治理水平， 强化董事会决策功能，规范董事会决策机制，确保董事会对经营管理的有效监督， 完善公司治理结构，根据《中华人民共和国公司法》《上市公司治理准则》《上市 公司独立董事管理办法》《上海证券交易所上市公司自律监管指引第 1 号——规范 运作》《公司章程》及其它有关法律及法规的规定，特设立公司董事会审计委员 会，并制定本实施细则。 第二条 董事会审计委员会是董事会下设的专门委员会，主要负责审核公司 财务信息及其披露、监督及评估内外部审计工作和内部控制，对董事会负责。 第二章 人员组成 第三条 审计委员会成员由董事会从董事会成员中任命，审计委员会成员由 五名董事组成，其中独立董事应当过半数（二分之一以上）。审计委员会成员须 具有能够胜任审计委员会工作职责的专业知识和商业经验，且应当为不在公司担 任高级管理人员的董事。委员中至少有一名独立董事为专业会计、审计人士。 第四条 审计委员会委员由董事长、二分之一以上独立董事或者全体董事的 三分之一以上提名，并由董事会选举产生。 第五条 审计委员会设主 ...