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].

证券代码：600522 证券简称：中天科技 公告编号：临 2024-060 江苏中天科技股份有限公司 关于第四期股份回购实施结果暨股份变动的公告 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。 | 回购方案首次披露日 | 2023/12/14 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 12 个月 | | 预计回购金额 | 10,000 万元-20,000 万元 | | 回购价格上限 | 20.46 元/股 | | 回购用途 | □减少注册资本 | | | √用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 实际回购股数 | 938.82 万股 | | 实际回购股数占总股本比例 | 0.2751% | | 实际回购金额 | 11,471.28 万元 | | 实际回购价格区间 | 11.34 元/股-14.27 元/股 | 2023 年 12 月 13 日，江苏中天科技股份有限公司（以下简称"公司"）第八届 董事会第十八次会议审议通过了 ...

上 市 公 司 证 券 研 究 报 告 公 司 研 究/ 公 司 点 评 | --- | --- | --- | |-------|------------------------------------|-------------------------------| | | 市场数据： | 2024 年 11 月 01 日 | | | 收盘价（元） | 15.66 | | | 一年内最高/最低（元） | 17.24/10.42 | | | 市净率 | 1.5 | | | 息率（分红/股价） | 1.40 | | 流通 | A 股市值（百万元） | 53,447 | | | 上证指数 / 深证成指 | 3,272.01/10,455.50 | | | 注："息率"以最近一年已公布分红计算 | | | --- | --- | |-------------------------------|-------------------------------| | | | | | | | 基础数据 : | 2024 年 09 月 30 日 | | 每股净资产（元） | 10.21 | | 资产负债率 % | 38. ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [4] Core Insights - The company reported a year-on-year profit increase in Q3 2024, with the marine segment expected to recover [6] - For the first three quarters of 2024, the company achieved operating revenue of 34.316 billion yuan, a year-on-year increase of 4.78%, while the net profit attributable to shareholders decreased by 13.12% to 2.311 billion yuan [2][6] - The company anticipates a significant increase in demand for marine cables due to the acceleration of offshore wind projects in Jiangsu and Guangdong, with a backlog of orders amounting to 12.3 billion yuan as of August 27, 2024 [6] Financial Performance Summary - In Q3 2024, the company achieved operating revenue of 12.9 billion yuan, a year-on-year increase of 2.32%, and a net profit of 0.851 billion yuan, a year-on-year increase of 20.67% [6] - The company expects operating revenues for 2024-2026 to be 51.883 billion yuan, 56.949 billion yuan, and 63.356 billion yuan, representing year-on-year growth rates of 15.13%, 9.77%, and 11.25% respectively [6][7] - The projected net profit for the same period is 3.29 billion yuan, 4.308 billion yuan, and 5.018 billion yuan, with growth rates of 5.56%, 30.95%, and 16.47% respectively [6][7] Market Position and Outlook - The company is positioned as a leading player in the domestic marine cable market, benefiting from a robust order backlog and expected growth in offshore wind demand [6] - The company’s earnings per share (EPS) are projected to be 1.0 yuan, 1.3 yuan, and 1.5 yuan for 2024, 2025, and 2026 respectively [6][7]

Investment Rating - The report maintains a "Recommended" rating for the company, with expected net profits of 3.61 billion, 4.58 billion, and 5.45 billion for 2024, 2025, and 2026 respectively, corresponding to PE ratios of 15, 12, and 10 [2][4]. Core Insights - The company reported a year-on-year increase in net profit for Q3 2024, driven by improved performance in marine projects and accelerated growth in the power cable business. The Q3 net profit reached 0.851 billion, up 20.67% year-on-year [1]. - The upcoming large-scale offshore wind projects in Jiangsu and Guangdong are expected to significantly boost the company's performance in Q4 2024 and into 2025, with major projects set to commence in late November 2024 [2]. - The company is positioned to benefit from the growing demand for offshore wind construction both domestically and internationally, enhancing its competitive advantage in the deep-sea offshore wind sector [2]. Financial Performance Summary - For the first three quarters of 2024, the company achieved operating revenue of 34.316 billion, a 4.78% increase year-on-year, while net profit attributable to shareholders was 2.311 billion, down 13.12% year-on-year [1]. - The Q3 2024 operating revenue was 12.9 billion, reflecting a 2.32% year-on-year increase, with a gross margin of 14.43%, slightly down from previous periods [1]. - The company’s operating cash flow turned positive in Q3 2024, reaching 1.14 billion, indicating improved cash flow management [1]. Financial Projections - The projected operating revenue for 2024 is 51.485 billion, with a growth rate of 14.24%, and net profit is expected to reach 3.611 billion, reflecting a growth rate of 15.87% [3][5]. - The company anticipates continued growth in net profit for the following years, with projections of 4.581 billion in 2025 and 5.454 billion in 2026, alongside improving profitability metrics [5][6].