苏美达股份有限公司 证券代码：600710 证券简称：苏美达 公告编号：2024-027 苏美达股份有限公司 第十届董事会第七次会议决议公告 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。 苏美达股份有限公司（以下简称"公司"）第十届董事会第七次会议通知及 相关资料于 2024 年 6 月 18 日分别以书面、电子邮件方式向全体董事发出，会议 于 2024 年 6 月 21 日以通讯方式召开。本次会议应出席董事 9 人，实际出席董事 9 人。本次会议的通知、召开及表决程序符合《中华人民共和国公司法》等有关 法律、行政法规、部门规章、规范性文件和《公司章程》的有关规定，决议合法 有效。本次会议审议通过了以下议案： 一、 关于子公司受让上海吉润置业有限公司 52%股权暨关联交易的议案 本议案在董事会审议前已经公司第十届董事会独立董事 2024 年第二次专门 会议审议通过。 具体内容请见同日在上海证券交易所网站（www.sse.com.cn）披露的《关于 子公司受让上海吉润置业有限公司 52%股权暨关联交易的公告》（公告编号： 20 ...

苏美达股份有限公司 证券代码：600710 证券简称：苏美达 公告编号：2024-029 苏美达股份有限公司 关于子公司受让上海吉润置业有限公司 52%股权 暨关联交易的公告 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。 重要内容提示： 苏美达股份有限公司（以下简称"公司"）全资子公司江苏苏美达集团有 限公司（以下简称"苏美达集团"）拟以自有资金 169,858,442.70 元，通过非公 开协议方式受让中国浦发机械工业股份有限公司（以下简称"中国浦发"）全资 子公司上海浦进企业发展有限公司（以下简称"上海浦进"）所持上海吉润置业 有限公司（以下简称"吉润置业"）52%股权，并以此获取吉润置业名下位于上海 市浦东新区金吉路 778 号的综合研发大楼资产。 本次交易构成关联交易，未构成重大资产重组。 历史关联交易情况：2024 年 4 月 11 日，经公司第十届董事会第五次会 议、第十届监事会第四次会议审议通过，同意公司与中国机械工业集团有限公司 （以下简称"国机集团"）下属国机商业保理有限公司（以下简称"国机保理"） 开展总 ...

苏美达股份有限公司 第十届监事会第六次会议决议公告 本公司监事会及全体监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。 苏美达股份有限公司 证券代码：600710 证券简称：苏美达 公告编号：2024-028 苏美达股份有限公司（以下简称"公司"）第十届监事会第六次会议通知及 相关资料于 2024 年 6 月 18 日分别以书面、电子邮件方式向全体监事发出，会议 于 2024 年 6 月 21 日以通讯方式召开。会议应到监事 3 人，实到监事 3 人。本次 会议的通知、召开、表决程序符合相关法律法规及《公司章程》的规定，会议合 法有效。会议审议并通过了以下议案： 一、 关于子公司受让上海吉润置业有限公司 52%股权暨关联交易的议案 经审核，监事会认为：公司受让上海吉润置业有限公司 52%股权暨关联交易 事项有利于打造上海区域总部，夯实上海区域业务发展基础；本次关联交易定价 公允，不存在损害公司及其他股东利益的情形。监事会同意本次受让上海吉润置 业有限公司 52%股权暨关联交易事项。 表决结果：赞成票 3 票，反对票 0 票，弃权票 0 票，通过本 ...

Summary of Conference Call Company Overview - The conference call is regarding Su Mei Da, focusing on its recent operational performance and issues related to international shipping and capacity [1] Core Points and Arguments - The call features the company's Director of Investor Relations, Mr. Han, who will discuss recent business conditions [1] - The discussion will address concerns regarding international shipping and capacity, which are of significant interest to stakeholders [1] Additional Important Content - The call is structured into two segments, with the first segment dedicated to Mr. Han's introduction of recent operational conditions [1]

Investment Rating - The report maintains an "Accumulate" rating for the company, indicating a positive outlook for its development, particularly with a projected net profit compound annual growth rate of 23.5% over three years [10]. Core Views - The company reported total revenue of 1229.8 billion in 2023, a decrease of 12.87% year-on-year, while net profit increased by 12.4% to 10.3 billion [4]. - The earnings per share (EPS) for 2023 was 0.79 yuan, with a cash dividend of 0.33 yuan per share, resulting in a dividend yield of 3.75% based on the closing price on April 12 [4]. - The company’s main business includes supply chain integration services and various products or services within the industrial chain [4]. Financial Summary - Revenue projections for 2024 are estimated at 1154.23 billion, with a year-on-year decline of 6.1%, followed by a slight decrease of 1.5% in 2025 and a recovery of 1.3% in 2026 [2]. - The net profit is expected to grow to 11.12 billion in 2024, 12.18 billion in 2025, and 13.35 billion in 2026, reflecting growth rates of 8.0%, 9.5%, and 9.6% respectively [2]. - The diluted EPS is projected to increase from 0.79 yuan in 2023 to 0.85 yuan in 2024, 0.93 yuan in 2025, and 1.02 yuan in 2026 [2].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its development, particularly with a projected net profit compound annual growth rate (CAGR) of 23.5% over three years [1]. Core Insights - The company achieved total revenue of 1229.8 billion, a decrease of 12.87% year-on-year, while the net profit attributable to shareholders was 10.3 billion, an increase of 12.4% year-on-year [4]. - The earnings per share (EPS) for 2023 was 0.79 yuan, with a weighted average return on equity (ROE) of 15.75%. The company plans to distribute a cash dividend of 0.33 yuan per share, resulting in a dividend yield of 3.75% based on the closing price on April 12 [4]. - For Q1 2024, the company reported total revenue of 237.45 billion, a decrease of 23.4% year-on-year, while the net profit attributable to shareholders was 2.66 billion, an increase of 5.2% year-on-year [4]. Financial Summary - The company’s main business includes two categories: supply chain integration services and various products or services within the industrial chain [4]. - The projected financials for the upcoming years are as follows: - Total revenue is expected to decline to 1154.23 billion in 2024, 1136.52 billion in 2025, and slightly increase to 1151.07 billion in 2026, reflecting year-on-year changes of -6.1%, -1.5%, and 1.3% respectively [4]. - Net profit is projected to grow to 11.12 billion in 2024, 12.18 billion in 2025, and 13.35 billion in 2026, with year-on-year growth rates of 8.0%, 9.5%, and 9.6% respectively [4]. - The diluted EPS is expected to rise to 0.85 yuan in 2024, 0.93 yuan in 2025, and 1.02 yuan in 2026 [4]. - The price-to-earnings (PE) ratio is projected to decrease from 10.41 in 2023 to 8.03 in 2026 [4].

Investment Rating - The report gives an "Accumulate" rating for the company, indicating a positive outlook for its development, particularly with a net profit compound annual growth rate of 23.5% over three years [9]. Core Insights - The company achieved total operating revenue of 122.98 billion, a decrease of 12.87% year-on-year, while the net profit attributable to shareholders was 1.03 billion, an increase of 12.4% year-on-year [9]. - The earnings per share for 2023 was 0.79 yuan, with a return on equity of 15.75%, and a cash dividend of 0.33 yuan per share, resulting in a dividend yield of 3.75% [9]. - The company reported a total operating revenue of 23.745 billion for Q1 2024, a decrease of 23.4% year-on-year, while the net profit attributable to shareholders was 266 million, an increase of 5.2% year-on-year [9]. Financial Performance Summary - For 2023, the company reported total revenue of 1229.81 billion, with a year-on-year decrease of 12.9%, and a net profit of 10.30 billion, with a year-on-year increase of 12.4% [10]. - The diluted earnings per share for 2023 was 0.79 yuan, with a projected increase to 0.85 yuan in 2024 and 0.93 yuan in 2025 [10]. - The price-to-earnings ratio is expected to decrease from 10.58 in 2023 to 9.80 in 2024, indicating a potentially more attractive valuation [10].

Investment Rating - The report assigns an "Accumulate" rating to the company, indicating a positive outlook for the stock's performance in the near term [1][17]. Core Insights - The company achieved total revenue of 122.98 billion in 2023, a decrease of 12.87% year-on-year, while net profit attributable to shareholders was 1.03 billion, an increase of 12.4% year-on-year [8]. - The earnings per share for 2023 was 0.79, with a return on equity of 15.75%. A cash dividend of 0.33 per share was declared, resulting in a dividend yield of 3.75% based on the closing price on April 12 [8]. - For Q1 2024, the company reported total revenue of 23.745 billion, a decline of 23.4% year-on-year, but net profit attributable to shareholders increased by 5.2% to 266 million [8]. - The company is primarily engaged in supply chain integration services and various product and service offerings, with a significant shareholding by China National Machinery Industry Corporation at 41.6% [8]. Financial Projections - Revenue projections for the upcoming years are as follows: 2024E at 115.42 billion, 2025E at 113.65 billion, and 2026E at 115.11 billion, indicating a gradual recovery after a decline [9]. - Net profit is expected to grow from 1.11 billion in 2024E to 1.33 billion in 2026E, reflecting a compound annual growth rate of 23.5% over three years [17]. - The diluted earnings per share are projected to increase from 0.85 in 2024E to 1.02 in 2026E, with a decreasing price-to-earnings ratio from 9.80 in 2024E to 8.17 in 2026E [9].

Group 1: Business Opportunities and Market Demand - The recent government policies are expected to boost market demand across multiple sectors, including high-end equipment imports and domestic replacements, benefiting the company’s various business lines [1] - The company aims to expand its business in textile, light industry, mechanical processing, electronics, and petrochemicals, leveraging the opportunity for equipment imports and exports [1] - The demand for the replacement of old ships is significant, with 12.5% of global ships over 20 years old and nearly 30% over 15 years old, indicating a strong renewal cycle [2] - The company has delivered 19 ships in 2023, with an order backlog of 66 ships, and expects to continue receiving new orders, projecting a positive outlook for the shipbuilding sector [2] Group 2: Environmental and ESG Initiatives - The company is actively responding to the national "dual carbon" strategy by promoting clean energy and ecological environmental projects [3] - The company has achieved an A rating in the WIND ESG rating and AA in the China Chengxin Green Gold ESG rating, indicating its leadership in ESG practices [3] - The board emphasizes the integration of ESG into business strategy, aiming to create social value alongside economic value [3] Group 3: Financial Performance and Market Management - The company has achieved a compound annual growth rate of over 23% in net profit over the past three years, reflecting strong financial performance [3] - The company has a robust market management system, including information disclosure and investor communication, which has led to an increase in institutional shareholder ownership [3] - The company’s brand revenue exceeded 10 billion yuan in 2023, accounting for over one-third of total revenue, indicating strong brand influence and market presence [4] Group 4: Strategic Business Development - The company is focusing on developing clean energy and ecological environmental businesses as part of its strategic growth plan [5] - The company is also exploring opportunities in healthcare and digital industries as part of its incubation business strategy [5] - The company’s diversified business model and emphasis on innovation are key to sustaining growth and competitiveness in the market [4]

Summary of Conference Call Company Overview - The conference call was held by Sumeida Co., Ltd. led by General Manager Zhao Weilin, expressing gratitude for the support from the Shanghai Stock Exchange and the attendees including investors, analysts, and media [1] Key Points and Arguments - The company discussed its operational performance, indicating a focus on transparency and communication with stakeholders [1] Other Important Content - The call emphasized the importance of investor relations and the role of platforms like the Shanghai Stock Exchange in facilitating communication [1]