| 证券代码：600885 | 证券简称：宏发股份 | 编 | 号：临 | 2024-023 | | --- | --- | --- | --- | --- | | 债券代码：110082 | 债券简称：宏发转债 | | | | 宏发科技股份有限公司 关于控股股东部分股份解质的公告 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: 宏发科技股份有限公司（以下简称"公司"或"本公司"）于 2024 年 4 月 16 日接到本公司控股股东有格创业投资有限公司（以下简称"有格投资"）通知， 有格投资将其原质押给厦门银行股份有限公司漳州分行本公司无限售条件流通 股 8,000,000 股已解除质押，具体情况如下： | 股东名称 | 有格创业投资有限公司 | | --- | --- | | 本次解质股份 | 8,000,000 股 | | 占其所持股份比例 | 2.81% | | 占公司总股本比例 | 0.77% | | 解质时间 | 2024 年 4 月 15 日 | | 持股数量 | 285,154,494 股 | 1 ...

[Table_MainInfo] 公司研究/机械工业/电气设备 证券研究报告 宏发股份（600885）公司年报点评 2024年04月09日 [Table_InvestInfo] 投资评级 优于大市 维持 业绩稳健增长，全球份额持续提升 股票数据 [Table_Summary] 0[4T月ab0le9_日S收to盘ck价（In元fo）] 26.24 投资要点： 52周股价波动（元） 20.90-35.64 总股本/流通A股（百万股） 1043/1043 总市值/流通市值（百万元） 27360/27360  2023年收入同比增11.02%，归母净利润同比增11.42%。2023年，公司实 相关研究 现营收129.30亿元，同比增11.02%；综合毛利率36.89%，同比增1.87pct； [《Ta业b绩le稳_R健e增p长or，tIn聚fo焦] 新能源及海外市场》 归母净利润13.93亿元，同比增长11.42%。 2023 年度拟向全体股东每股派发现金红利 0.439 元（含税），现金分红比例 2023.11.13 《电力、高压直流继电器快速增长，海外业务 为32.86%。 顺利推进》2023.08.04 《 ...

| 股票代码：600885 | 公司简称：宏发股份 公告编号：临 2024-022 | | --- | --- | | 转债代码：110082 | 转债简称：宏发转债 | 可转债转股结果暨股份变动公告 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： ● 累计转股情况：宏发转债自 2022 年 5 月 5 日进入转股期，截至 2024 年 3 月 31 日，累计有 496,000 元宏发转债转换为公司普通股股票，累计转股数 7,690 股，占可转 债转股前公司已发行股份总额的 0.0010%。 ● 未转股可转债情况：截至 2024 年 3 月 31 日，尚未转股的可转债金额为 1,999,504,000 元，占可转债发行总量的 99.9752%。 宏发科技股份有限公司 ● 2024 年度第一季度转股情况：本季度可转债转股的金额为 0 元，因转股形成的股份 数量为 0 股。 一、可转债发行上市概况 宏发科技股份有限公司（以下简称"公司"）经中国证券监督管理委员会《关于核准宏发 科技股份有限公司公开发行可转换公司债券 ...

电力设备 | 证券研究报告 — 调整盈利预测 2024 年 4 月 1 日 600885.SH 增持 原评级：增持 市场价格:人民币 25.17 板块评级:强于大市 股价表现 (%) 今年 至今 1 个月 3 个月 12 个月 (32%) (24%) (16%) (7%) 1% 10% Mar-23May-23Jun-23Jul-23Aug-23Sep-23Oct-23Nov-23Dec-23Jan-24Feb-24Mar-24 宏发股份 上证综指 绝对 (6.1) 1.1 (8.9) (24.3) 相对上证综指 (8.7) 0.2 (11.2) (18.2) | --- | --- | --- | |-------------------------------|------------|-----------| | | | | | 发行股数 ( 百万 ) | | 1,042.68 | | 流通股 ( 百万 ) | | 1,042.68 | | 总市值 ( 人民币 百万 ) | | 26,244.15 | | 3 个月日均交易额 ( 人民币 | 百万 ) | 206.69 | | 主要股东 | | | | ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company achieved a revenue of 12.93 billion yuan in 2023, a year-on-year increase of 11.0%, and a net profit attributable to shareholders of 1.39 billion yuan, also up 11.4% year-on-year, aligning with market expectations [3] - The gross margin for 2023 was 36.9%, an increase of 2.8 percentage points year-on-year, driven by currency fluctuations, a higher proportion of high-margin new energy vehicles and traditional vehicles, and accounting impacts from the acquisition of Hongxing Tai [3] - The company is experiencing strong growth in its new energy vehicle and photovoltaic relay segments, with a global market share for high-voltage direct current relays exceeding 40% [3] - The company is implementing a "75+" strategy to expand its product categories and aims to reach a revenue target of 10 billion yuan [3] Financial Forecasts - The company forecasts a net profit of 1.61 billion yuan for 2024, 1.84 billion yuan for 2025, and 2.10 billion yuan for 2026, with respective year-on-year growth rates of 15%, 15%, and 14% [4] - The estimated earnings per share (EPS) for 2024 is 1.54 yuan, with a price-to-earnings (P/E) ratio of 22 times [4] - The total revenue is projected to reach 14.30 billion yuan in 2024, with a year-on-year growth of 10.63% [2][4] Market Data - The closing price of the company's stock is 25.17 yuan, with a market capitalization of approximately 26.24 billion yuan [6] - The price-to-book (P/B) ratio is 3.28 [6] Basic Data - The company's net asset per share is 7.67 yuan, and the debt-to-asset ratio is 37.61% [7]

宏发股份（600885.SH）2023年年报点评 23 年业绩符合预期，新门类获新成效 2024年03月30日 ➢ 事件：2024年3月29日，公司发布2023年年度报告。23年实现营业收 推荐 维持评级 入129.30亿元，同比增长10.20%，其中内销收入79.58亿元，同比增长15.21%， 当前价格： 25.17元 出口收入45.69亿元，同比增长5.61%；归属于上市公司股东的净利润13.93亿 元，同比增长11.67%；归属于上市公司股东的扣除非经常性损益的净利润13.30 亿元，同比增长10.84%；基本每股收益1.34元。 [Table_Author] 单季度来看，23Q4公司实现收入29.99亿元，同比增长8.11%，环比减少7.94%； 实现归母净利润3.25亿元，同比增加16.35%，环比减少10.39%；实现扣非净 利润2.51亿元，同比增加13.23%，环比减少27.24%。 ➢ 继电器：质量达世界一流，获国内外高端客户认可 产品技术创新与知识产权布局协同推进，继电器门类产品立项新品开发166项， 同比增长19%，全年申请专利497项，同比增长48%，生产线体中高级水平的 分析师 邓 ...

Financial Performance - The company achieved a total operating revenue of ¥12,929,777,899.97 and a net profit of ¥1,918,411,815.88 for the year 2023, with a net profit attributable to the parent company of ¥1,392,966,726.17[2] - The net profit after deducting non-operating income attributable to the parent company was ¥1,330,024,086.15, while the parent company alone reported a net profit of ¥504,089,018.25[2] - The company's operating revenue for 2023 reached CNY 12,929,777,899.97, an increase of 11.02% compared to CNY 11,645,925,592.41 in 2022[21] - Net profit attributable to shareholders for 2023 was CNY 1,392,966,726.17, reflecting an increase of 11.42% from CNY 1,250,231,940.38 in the previous year[21] - The net cash flow from operating activities for 2023 was CNY 2,660,744,870.89, a significant increase of 64.13% compared to CNY 1,621,132,127.87 in 2022[21] - The company's total assets as of the end of 2023 amounted to CNY 17,723,687,718.05, representing a growth of 9.15% from CNY 16,237,597,556.67 in 2022[21] - Basic earnings per share for 2023 were CNY 1.34, up 11.67% from CNY 1.20 in 2022[22] - The weighted average return on equity for 2023 was 17.44%, a decrease of 0.42 percentage points from 17.86% in 2022[22] Dividend Distribution - The proposed cash dividend distribution is ¥0.439 per share (including tax), totaling ¥457,734,645.91 (including tax) based on a total share capital of 1,042,675,731 shares, resulting in a cash dividend payout ratio of 32.86%[2] - The company plans to maintain the per-share distribution ratio unchanged in case of changes in total share capital due to convertible bond conversions or other corporate actions[2] Corporate Governance - The company emphasizes the importance of ensuring the authenticity, accuracy, and completeness of the annual report, with all board members present at the meeting[2] - The company has established a comprehensive corporate governance structure, including various committees to ensure compliance and protect investor interests[86] - The board of directors consists of nine members, including three independent directors, ensuring a balanced decision-making process[88] - The company has implemented a robust internal control system to safeguard the interests of investors and ensure compliance with legal regulations[86] Audit and Compliance - The company has received a standard unqualified audit report from Dahua Certified Public Accountants[2] - The company has maintained a standard unqualified opinion in its internal control audit report[123] - The audit committee approved the 2022 financial audit report and the internal control audit report, which will be submitted for board review[109] Research and Development - The company’s R&D expenses amounted to ¥673,325,781.90, which is an increase of 9.04% compared to the previous year[59] - The company launched 166 new relay products, marking a 19% increase in new product development[31] - The company applied for 497 patents in the relay sector, a 48% increase, with 197 of these being invention patents[31] - The company has a high-level technical R&D team and has been recognized as a national technology innovation demonstration enterprise[57] Market Position and Strategy - The global market share for power relays increased to 31.6%, while the automotive relay market share rose to over 40%[32] - The company ranked first in the global electromagnetic relay market share according to the 2023 report by Zhiduoxing Consulting[55] - The company aims to implement the "75+" strategy, focusing on seven key product areas, including relays for new energy, power, automotive, industrial control, and more[47] Environmental Responsibility - The company invested RMB 8.76 million in environmental protection during the reporting period[124] - All pollution control facilities of the company and its subsidiaries are operating normally, ensuring compliance with environmental standards[127] - The company has developed emergency response plans for environmental incidents in accordance with relevant laws and regulations[132] - The company has reduced carbon emissions by 4,529.14 tons through various measures, including the installation of 6.48 MW of solar photovoltaic power generation[138] Employee Management - The company employed a total of 15,297 staff, with 105 in the parent company and 15,192 in major subsidiaries[111] - The workforce includes 7,455 production personnel, 592 sales personnel, and 3,462 technical personnel[112] - The company has established a comprehensive training system to support employee development and ensure alignment with corporate needs[114] Related Party Transactions - The company has engaged in related party transactions, purchasing products from Xiamen Bige Technology Co., Ltd. for RMB 4.161 million in 2023, with an estimated future purchase of RMB 7 million[171] - The company has reported a total of RMB 12 million in other transactions with related parties, indicating ongoing business relationships[171] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% and aiming to reach 1.875 billion[98] - New product launches are expected to contribute an additional 200 million in revenue, with a focus on innovative technology in the automotive sector[99] - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by the end of 2024[98] Financial Management - The total amount of guarantees provided by the company, excluding subsidiaries, is 990.14 million RMB, which accounts for 8.95% of the company's net assets[178] - The company has entrusted 149.2 million RMB in bank wealth management products, with an outstanding balance of 92 million RMB and no overdue amounts[179] - The company approved a cash management plan allowing the use of up to 1.8 billion RMB of idle funds for low-risk financial products, valid for 12 months from November 30, 2022[180]

宏发科技股份有限公司章程 宏发科技股份有限公司 章程 （2024 年 3 月） 第二节 内部审计 第三节 会计师事务所的聘任 第九章 通知与公告 第一节 通知 第二节 公告 第十章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十一章 修改章程 第十二章 附则 宏发科技股份有限公司章程 宏发科技股份有限公司章程 目 录 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 股东和股东大会 第一节 股东 第二节 股东大会的一般规定 第三节 股东大会的召集 第四节 股东大会的提案与通知 第五节 股东大会的召开 第六节 股东大会的表决和决议 第五章 董事会 第一节 董事 第二节 董事会 第六章 总经理及其他高级管理人员 第七章 监事会 第一节 监事 第二节 监事会 第八章 财务会计制度、利润分配和审计 第一节 财务会计制度 宏发科技股份有限公司章程 第一章 总则 第一条 为维护宏发科技股份有限公司（下称"公司"或"本公司"）、股东 和债权人的合法权益，规范公司的组织和行为，根据《中华人民共和国公司法》 （以 ...

债券代码：110082 债券简称：宏发转债 股票代码：600885 公司简称：宏发股份 公告编号：临 2024-013 宏发科技股份有限公司 关于2024担保额度预计暨关联交易的公告 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个别及连带责任。 重要内容提示： ● 被担保人名称：舟山金越电器有限公司、厦门金波贵金属制品有限公司、四川锐腾电子有限公司、厦门金越电器 有限公司、浙江宏舟新能源科技有限公司、西安宏发电器有限公司、厦门宏发密封继电器有限公司、浙江宏发五峰 电容器有限公司、浙江宏发工业自动化控制电子有限公司、厦门宏发电气有限公司、厦门宏远达电器有限公司、厦 门宏发开关设备有限公司、四川宏发电声有限公司、厦门宏发电声科技有限公司、厦门宏发电力电子科技有限公司、 浙江宏发电气科技有限公司、宁波金海电子有限公司、宏发电声（香港）有限公司、Hongfa Europe GmbH。 ● 本次担保金额： 2024 年度担保额度预计为475,600万元人民币、950万欧元。扣除已履行到期的担保，公司已实 际为其提供担保余额为99,014.19万 ...

东方证券承销保荐有限公司关于宏发科技股份有限公司 2023 年度募集资金存放和实际使用情况的专项核查意见 东方证券承销保荐有限公司（以下简称"东方投行"）作为宏发科技股份有 限公司（以下简称"上市公司"、"宏发股份"或"公司"）2021 年公开发行可转 换公司债券（以下简称"可转债发行"）的保荐机构，根据《证券发行上市保荐 业务管理办法》、《上海证券交易所股票上市规则》、《上海证券交易所上市公司持 续督导工作指引》、《上市公司监管指引第 2 号——上市公司募集资金管理和使 用的监管要求》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》 等相关规定，对公司 2023 年度募集资金存放与使用情况进行了核查，并发表如 下核查意见： 一、募集资金基本情况 （一）募集资金金额和资金到账时间 经中国证券监督管理委员会《关于核准宏发科技股份有限公司公开发行可转 换公司债券的批复》 证监许可 [2021]3145 号 核准，本公司向社会公开发行面 值总额人民币 20 亿元可转换公司债券，每张面值为人民币 100 元，共计 2,000 万张，期限 6 年。截至 2021 年 11 月 3 日，公司实际已向社会公开发 ...