证券代码：600522 证券简称：中天科技 公告编号：临 2024-065 江苏中天科技股份有限公司 关于第五期以集中竞价交易方式回购股份的回购报告书 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、准确性和完整性依法承担法律责任。 重要内容提示： ● 回购股份金额：不低于人民币 20,000 万元（含），不超过人民币 40,000 万元（含）； ● 回购股份资金来源：公司自有资金和自筹资金； ● 回购股份用途：用于实施员工持股计划； ● 回购股份价格：不超过人民币 22.00 元/股（含），该价格不高于公司董事 会通过回购决议前 30 个交易日公司股票交易均价的 150%； ● 回购股份方式：集中竞价交易方式； ● 回购股份期限：待董事会审议通过后 12 个月; ● 相关股东是否存在减持计划：截至董事会通过本次回购方案决议之日，经 询问公司控股股东、实际控制人、公司董事、监事及高级管理人员、持股 5%以上 的股东在未来 3 个月、未来 6 个月暂无减持计划。如上述主体未来拟实施股份减 持计划，公司将按照法律法规及规范性文件要求及时履行信息披露义务； ● ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][2] Core Insights - The company has shown a recovery in performance in Q3 2024, with sufficient orders in the energy network sector. The revenue for Q3 2024 reached 12.90 billion, a year-on-year increase of 2.32% [1] - The company is focusing on increasing innovation and technology investments, establishing a complete value chain system in the energy network industry. Although short-term performance is under pressure, the long-term development trend remains unchanged [1] - The company has a strong market position in the domestic optical submarine cable sector, with expectations of recovery in demand for submarine cables and ultra-high voltage cables [2] Summary by Relevant Sections Financial Performance - For 2023A, the company reported revenue of 45.065 billion, with a year-on-year growth rate of 12%. The projected revenue for 2024E is 50.214 billion, with an expected growth rate of 11% [1][3] - The net profit attributable to the parent company for 2023A is 3.117 billion, with a slight decrease of 3% year-on-year. The forecast for 2024E is 3.331 billion, indicating a growth of 7% [1][3] - Earnings per share (EPS) for 2023A is 0.91, with projections of 0.98 for 2024E and 1.24 for 2025E [1][3] Market Position and Strategy - The company is actively expanding its presence in high-end markets overseas, achieving significant contracts in Spain, Australia, Brazil, and Mexico [1] - The company is deeply involved in the renewable energy sector, successfully implementing multiple "new energy+" projects, including solar power initiatives [1] - The company has a robust order backlog in the energy network sector, with ongoing projects in offshore wind and submarine cable construction expected to drive future growth [1] Valuation Metrics - The price-to-earnings (P/E) ratio for 2023A is 18.9, with a projected decrease to 17.7 for 2024E and further to 13.9 for 2025E [1][3] - The price-to-book (P/B) ratio is 1.8 for 2023A, expected to decline to 1.7 in 2024E [1][3]

Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Views - The company reported a revenue of 34.316 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 4.78%. The net profit attributable to shareholders was 2.311 billion yuan, down 13.12% year-on-year [5] - The company has seen a significant increase in contract liabilities, which reached 2.781 billion yuan at the end of Q3 2024, up from 2.227 billion yuan at the end of H1 2024 [6] - The company is shifting its fundraising focus towards overseas cable projects, with plans to allocate 1.062 billion yuan to various projects, including a new environmentally friendly cable project in Turkey [6] Financial Performance Summary - For Q3 2024, the company achieved a revenue of 12.9 billion yuan, a year-on-year increase of 2.32%, while the net profit attributable to shareholders was 0.851 billion yuan, up 20.67% year-on-year [5] - The gross margin for Q3 2024 was 14.43%, down 2.43 percentage points year-on-year, while the net profit margin was 6.60%, an increase of 1.00 percentage point year-on-year [5] - The company expects revenues of 49.553 billion yuan, 53.908 billion yuan, and 57.894 billion yuan for 2024, 2025, and 2026 respectively, with net profits of 3.291 billion yuan, 3.913 billion yuan, and 4.485 billion yuan for the same years [7][8] Business Segment Forecast - The revenue from the power grid construction segment is expected to grow from 16.741 billion yuan in 2023 to 23.306 billion yuan in 2026, with a gross margin of 15% [9] - The marine series segment is projected to increase from 3.740 billion yuan in 2023 to 7.294 billion yuan in 2026, with a gross margin of 28% [9] - The new energy segment is anticipated to grow from 7.209 billion yuan in 2023 to 9.550 billion yuan in 2026, with a gross margin of 12.34% [9] Valuation and Investment Recommendations - The company is assigned a dynamic PE range of 17-18X for 2025, corresponding to a fair value range of 19.49-20.64 yuan per share [7] - The expected earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 0.96 yuan, 1.15 yuan, and 1.31 yuan respectively [11]

财联社11月9日讯（编辑 平方）A股上市公司回购增持贷款正加速落地，据财联社不完全统计，截至发 稿，本周（11月4日-11月9日）包括仁信新材、诚意药业、昂利康、华通线缆、朗进科技、卓易信息、 华康医疗、中伟股份、均胜电子、吉宏股份、中天科技、精锻科技、统联精密、港通医疗、恒生电子、 瑞普生物、祥和实业、美格智能、同兴达、西子洁能、润丰股份、益生股份、振江股份、舍得酒业、新 诺威、华泰股份、通化东宝和古越龙山在内的28家上市公司披露回购增持再贷款相关情况。具体情况如 下图： 上述公告利用专项贷款进行增持或回购股份计划的上市公司之中，中伟股份获专项贷款资金额度最高， 最高不超过7亿元。 固态电池概念股中伟股份11月5日公告，公司拟回购资金总额不低于5亿元（含）且不超过10亿元 （含），回购价格不超过57元/股（含）。回购的股份将用于股权激励或员工持股计划。公司已收到兴 业银行长沙分行的《贷款承诺函》，承诺为公司回购A股股份提供专项贷款支持，借款金额最高不超过 7亿元（含），借款期限为1年。二级市场方面，中伟股份于11月6日盘中最高涨近15%。 此外，中天科技、恒生电子、同兴达、舍得酒业、通化东宝等多家上市公司也 ...

一、提升经营质量 （一）聚焦主营业务，坚持差异化创新引领 证券代码：600522 证券简称：中天科技 公告编号：临 2024-064 江苏中天科技股份有限公司 关于"提质增效重回报"行动方案的公告 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。 为积极践行"以投资者为本"的上市公司发展理念，维护江苏中天科技股份有 限公司（以下简称"中天科技股份"或"公司"）全体股东利益，基于对公司未来发 展前景的信心、对企业价值的深刻认识以及对社会责任的认真履行，公司制定了"提 质增效重回报"行动方案，具体举措如下： 公司是领先的能源网络和信息通信制造商，获评中国企业 500 强、国家重点高 新技术企业、全国质量奖和中国工业大奖。公司起步于 1992 年，起家于光纤通信， 2002 年迈入智能电网并在上海证券交易所上市，2011 年布局新能源，现已形成通信、 电网、海洋、新能源多元化的产业格局，连续七年摘得"制造业单项冠军项冠军示 范企业"。 2024 年，公司秉承"固本兴新，合规精进"经营方针，以企标更精严、工艺更 精进、数据更精确、技能更 ...

证券代码：600522 证券简称：中天科技 公告编号：临 2024-063 江苏中天科技股份有限公司 关于回购股份事项前十大股东及前十大无限售条件股东 持股情况的公告 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个别及连带责任。 江苏中天科技股份有限公司（以下简称"中天科技股份"或"公司"）于 2024 年 11 月 5 日召开第八届董事会第二十七次会议，审议通过了《关于第五期以集 中竞价交易方式回购公司股份方案的议案》，具体内容详见公司于 2024 年 11 月 6 日在《中国证券报》《上海证券报》《证券时报》及上海证券交易所网站 （www.sse.com.cn）披露的《江苏中天科技股份有限公司关于第五期以集中竞价 交易方式回购股份的预案》（公告编号：临 2024-061）。 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等法律法规的相关规定，现将披露董事会公告回购股份决议 的前一个交易日（2024 年 11 月 5 日）登记在册的前十大股东和前十大无限售条 件股东的名称、持股数量及比例情况 ...

北京市盈科（南通）律师事务所 之 法律意见书 关于 江苏中天科技股份有限公司 2024 年第二次临时股东大会见证 之 法律意见书 北京市盈科（南通）律师事务所 关于 江苏中天科技股份有限公司 2024 年第二次临时股东大会见证 5 6 | 张可 当地 | 议案名称 | 股东类 | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | म्बर | 票数 | 比例 | 票数 | 比例 | 崇数 | 比例 | | | | | | (%) | | (%) | | (%) | | | 关于调整为部分控股子公司 2024年银行综合授信 提供担保额度的议案 | Ａ 股 | 476,684,271 | 76.2194 | 147,394,857 | 23.5677 | 1,330,951 | 0.2129 | | 2 | 关于变更部分募集资金投资项目的议案 | Ａ 股 | 608,466,863 | 97.2908 | 1,562,502 | 0.2498 | 15,380,714 | 2.4594 | | 3 ...

证券代码：600522 证券简称：中天科技 公告编号：临 2024-062 江苏中天科技股份有限公司 2024 年第二次临时股东大会决议公告 （一）股东大会召开的时间：2024 年 11 月 6 日 （二）股东大会召开的地点：江苏省南通经济技术开发区中天路三号中天黄海宾 馆会议室 （三）出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 3,363 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,399,527,962 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份总 | 41.0064 | | 数的比例（%） | | （四）表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等 本次股东大会由江苏中天科技股份有限公司（以下简称"中天科技股份"或 "公司"）第八届董事会召集。董事长因公务未出席本次会议，授权副董事长薛 驰先生主持了本次股东大会现场会议。会议采用现场投票表决和网络投票表决相 结合的表决方式。会议的召开和表决程序符合《公司法》和《公司章程》的规定。 （五）公司董事、监事和董事会秘 ...

证券代码：600522 证券简称：中天科技 公告编号：临 2024-061 江苏中天科技股份有限公司 关于第五期以集中竞价交易方式回购股份的预案 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、准确性和完整性依法承担法律责任。 重要内容提示： 2、如回购股份的所需资金未能及时到位，则存在导致回购方案无法按计划实 施的风险； 1 ● 回购股份金额：不低于人民币 20,000 万元（含），不超过人民币 40,000 万元 （含）。 ● 回购股份资金来源：公司自有资金和自筹资金。公司已经取得了中国建设银行 股份有限公司南通分行（以下简称"建设银行南通分行"）出具的《中国建设银行 贷款承诺书》，该项贷款已完成建设银行相关审批程序，贷款用途为公司股票回购， 待公司与建设银行南通分行签署授信协议或借款合同及相关协议后即可发放。公 司将根据贷款资金实际到账情况、资金使用规定和市场情况在回购期限内择机实 施本次回购计划，严格遵守贷款资金"专款专用，封闭运行"的原则。 ● 回购股份用途：用于实施员工持股计划。 ● 回购股份价格：不超过人民币 22.00 元/股（含），该价格 ...

Investment Rating - The investment rating for the company is "Buy" with a target price of 15.74 CNY, maintaining the current rating [1]. Core Views - The report highlights a significant increase in contract liabilities, with a year-on-year growth of 85%, indicating strong business demand and a robust order backlog [1]. - The company achieved a revenue of 343.16 billion CNY in the first three quarters of 2024, representing a year-on-year growth of 4.78%, while the net profit attributable to shareholders decreased by 13.12% to 23.11 billion CNY [1]. - The report anticipates continued growth in profitability, driven by effective cost control and a decrease in expense ratios compared to the previous year [1]. Financial Performance Summary - For Q3 2024, the company reported a revenue of 129 billion CNY, a year-on-year increase of 2.32%, and a net profit of 8.51 billion CNY, up 20.67% year-on-year [1]. - The company's contract liabilities reached 27.81 billion CNY, reflecting a strong order backlog and future growth potential [1]. - The report projects net profits for 2024-2026 to be 33 billion CNY, 44 billion CNY, and 55 billion CNY respectively, with corresponding valuations of 16, 12, and 10 times [1]. Business Outlook - The company is well-positioned in the offshore wind power sector, with a strong order intake and a strategic focus on expanding its market presence both domestically and internationally [1]. - In the renewable energy sector, the company has seen significant growth in its photovoltaic business and continues to build a robust order book in the energy storage field [1]. - The optical communication segment is expected to maintain stable performance, with the company leading in market share and advancing in product development [1].