证券代码：601567 证券简称：三星医疗 公告编号：临2024-060 宁波三星医疗电气股份有限公司 第六届监事会第十次会议决议公告 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。 宁波三星医疗电气股份有限公司（以下简称"公司"）第六届监事会第十次 会议于 2024 年 5 月 10 日在公司会议室以现场方式召开。会议应到监事 3 人，实 到监事 3 人，会议由监事会主席郑伟科先生主持，会议的召集和召开符合《公司 法》和《公司章程》的有关规定。经与会监事认真审议并表决，通过了以下议案， 形成决议如下： 表决结果：3票赞成、0票反对、0票弃权。 二、 审议通过了关于第四期、第五期股权激励计划预留授予的限制性股 票第一次解除限售的议案 详见公司披露于上海证券交易所网站（www.sse.com.cn）的《三星医疗关于 第四期、第五期股权激励计划授予的限制性股票解锁暨上市流通的公告》（公告 编号：临2024-061）。 表决结果：3票赞成、0票反对、0票弃权。 特此公告。 宁波三星医疗电气股份有限公司 监事会 2024年5月11日 ...

证券代码：601567 证券简称：三星医疗 公告编号：临 2024-059 宁波三星医疗电气股份有限公司 第六届董事会第十三次会议决议公告 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。 公司董事沈国英女士、郭粟女士为第四期限制性股票激励计划的激励对象， 公司董事程志浩先生、葛瑜斌先生为第五期限制性股票激励计划的激励对象，已 回避对本议案的表决。 表决结果：4 票赞成、0 票反对、0 票弃权、4 票回避，关联董事沈国英、郭 粟、程志浩、葛瑜斌回避表决。 二、 审议通过了关于第四期、第五期股权激励计划预留授予的限制性股 票第一次解除限售的议案 详见公司披露于上海证券交易所网站（www.sse.com.cn）的《三星医疗关于 第四期、第五期股权激励计划授予的限制性股票解锁暨上市流通的公告》（公告 编号：临 2024-061）。 表决结果：8 票赞成、0 票反对、0 票弃权。 特此公告。 宁波三星医疗电气股份有限公司 董事会 宁波三星医疗电气股份有限公司（以下简称"公司"）于 2024 年 5 月 10 日 召开第六届董事会第十三次 ...

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company has demonstrated significant revenue growth, with a 2023 revenue of 11.463 billion, representing a 26% year-on-year increase. The net profit attributable to the parent company reached 1.904 billion, showing a remarkable 100.8% increase [1][3] - The report highlights the strong performance of the electric meter business, which achieved a revenue of 8.6 billion in 2023, growing by 24% year-on-year, with a gross margin of 34.0% [1][3] - The medical services segment also showed robust growth, with a revenue of 2.81 billion in 2023, up 34.6% year-on-year, and a net profit margin of 10.42% [1][3] Summary by Sections Financial Performance - In 2023, the company achieved a revenue of 11.463 billion and a net profit of 1.904 billion, with gross margin at 34.0% and net margin at 16.6% [3][5] - The forecast for 2024 projects revenues of 14.475 billion and net profits of 2.295 billion, with expected growth rates of 26.3% for revenue and 20.6% for net profit [3][5] Business Segments - The electric meter business has a backlog of orders worth 12.5 billion, with 44% from overseas markets, indicating strong international demand [1] - The medical services segment includes 28 hospitals with a total of approximately 8,868 beds, and the company plans to continue expanding its rehabilitation medical services [1][3] Future Outlook - The company is expected to maintain a strong growth trajectory, with projected revenues of 18.192 billion and net profits of 2.752 billion by 2025, reflecting a compound annual growth rate of 25.7% for revenue and 19.9% for net profit [3][5] - The report emphasizes the company's strategic expansion into new product categories such as photovoltaic inverters and charging piles, alongside its core electric meter and medical services businesses [1][3]

Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [8]. Core Views - The company is expected to achieve rapid growth driven by its dual business segments: power distribution and medical services. Revenue projections for 2024-2026 are estimated at 145.67 billion, 177.96 billion, and 209.33 billion yuan, with year-on-year growth rates of 27.09%, 22.16%, and 17.63% respectively [4][5]. - The net profit attributable to shareholders is forecasted to be 23.06 billion, 28.06 billion, and 33.34 billion yuan for the same period, with growth rates of 21.13%, 21.68%, and 18.83% respectively [4][5]. Financial Performance Summary - In 2023, the company reported a revenue of 114.63 billion yuan, a year-on-year increase of 25.99%. The net profit attributable to shareholders was 19.04 billion yuan, reflecting a significant year-on-year growth of 100.79% [2][5]. - For Q1 2024, the company achieved a revenue of 30.25 billion yuan, up 34.53% year-on-year, with a net profit of 3.64 billion yuan, marking a 35.15% increase [2][5]. - The gross profit margin for 2023 was 33.99%, an increase of 5.11 percentage points year-on-year, while the net profit margin was 16.76%, up 6.15 percentage points [2][5]. Business Segment Performance - The smart power distribution segment generated a revenue of 84.36 billion yuan in 2023, a year-on-year increase of 23.90%, with a gross margin of 34.12% [2][5]. - The medical services segment reported a revenue of 27.83 billion yuan, up 34.73% year-on-year, with rehabilitation services contributing 13.11 billion yuan, a growth of 64.80% [2][5]. - The company has expanded its hospital network to 28 facilities, including 22 rehabilitation hospitals, increasing total bed capacity to approximately 8,868 [2][5].

Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [6][7]. Core Insights - The company is expected to achieve rapid growth driven by its dual business model in power distribution and medical services. Revenue projections for 2024-2026 are estimated at 145.67 billion, 177.96 billion, and 209.33 billion yuan, with year-on-year growth rates of 27.09%, 22.16%, and 17.63% respectively. Corresponding net profits are projected at 23.06 billion, 28.06 billion, and 33.34 billion yuan, with growth rates of 21.13%, 21.68%, and 18.83% respectively [3][4]. Financial Performance Summary - For 2023, the company reported a revenue of 114.63 billion yuan, a year-on-year increase of 25.99%. The net profit attributable to shareholders was 19.04 billion yuan, reflecting a significant increase of 100.79% [2][4]. - In Q1 2024, the company achieved a revenue of 30.25 billion yuan, up 34.53% year-on-year, with a net profit of 3.64 billion yuan, an increase of 35.15% [2][3]. - The gross profit margin for 2023 was 33.99%, up 5.11 percentage points from the previous year, while the net profit margin was 16.76%, an increase of 6.15 percentage points [2][4]. Business Segments Overview - The smart power distribution segment generated revenue of 84.36 billion yuan in 2023, a year-on-year increase of 23.90%, with a gross margin of 34.12% [2][3]. - The medical services segment reported revenue of 27.83 billion yuan, a 34.73% increase year-on-year, with rehabilitation services contributing 13.11 billion yuan, up 64.80% [2][3]. Market Expansion and Strategy - The company has a strong international presence with manufacturing bases in Brazil, Indonesia, Poland, Mexico, and Germany, and sales centers in Sweden, Colombia, Nepal, Peru, and Bangladesh, covering over 70 countries [2][3]. - The company is actively expanding its smart power distribution business in Europe and the Middle East, with successful bids in Saudi Arabia and Greece [2][3].

证券代码：601567 证券简称：三星医疗 宁波三星医疗电气股份有限公司 投资者关系活动记录表 £特定对象调研 £分析师会议 投资者关系 £媒体采访 £业绩说明会 活动类别 £新闻发布会 £路演活动 £现场参观 R电话会议 海通证券、广发资管、博道基金、建信理财、淳厚基金、华西证 参与单位名称 券、中金公司、中信建投、兴业证券、东吴证券、国盛证券、申万 （排名不分先 证券、财通证券、华安证券、浙商证券、天风证券、国金证券、德 后） 邦证券、国信证券、东北证券等 时间 2024年4月26日 地点 公司会议室/线上 董事长沈国英女士 上市公司 董事会秘书郭粟女士 接待人员 财务负责人葛瑜斌先生 投资者关系活动 1、公司在手订单的情况如何？ 主要内容介绍 答：根据公司2024年一季报，截至报告期末，公司累计在手 ...

宁波三星医疗电气股份有限公司 2023年年度股东大会会议资料 二〇二四年五月十七日 | 2023 | 年年度股东大会会议议程 | 3 | | --- | --- | --- | | 议案一： | | 5 | | 关于 | 2023 年度董事会工作报告的议案 | 5 | | 议案二： | | 19 | | 关于 | 2023 年度监事会工作报告的议案 | 19 | | 议案三： | | 22 | | 关于 | 2023 年度独立董事述职报告的议案 | 22 | | 议案四： | | 40 | | 关于 | 2023 年度财务报告的议案 | 40 | | 议案五： | | 41 | | 关于 | 2023 年年度报告及其摘要的议案 | 41 | | 议案六： | | 42 | | 关于 | 2023 年度利润分配预案的议案 | 42 | | 议案七： | | 43 | | 关于公司及控股子公司向银行申请授信额度的议案 | | 43 | | 议案八： | | 45 | | 关于为控股子公司提供担保的议案 | | 45 | | 议案九： | | 47 | | 关于 | 2023 年度董事薪酬的议案 | 47 | | ...

证券代码：601567 证券简称：三星医疗 公告编号：临 2024-058 宁波三星医疗电气股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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： 公司将严格按照《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》等相关规定及公司回购股份方案，在回购期限内根 据市场情况择机做出回购决策并予以实施，并根据回购股份事项进展情况及时履 行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 宁波三星医疗电气股份有限公司（以下简称"公司"）于 2023 年 12 月 7 日 召开第六届董事会第六次会议，并于 2023 年 12 月 25 日召开 2023 年第四次临时 股东大会，审议通过了《关于回购公司股份方案的议案》。同意公司使用自有资 金以集中竞价的方式回购公司股份，回购资金总额不低于人民币 1.5 亿元（含）， 不超过人民币 3 亿元（含），回购价格不超过人民币 21.00 元/股。具体内容详见 公司分别于 2023 年 12 ...

Investment Rating - The investment rating for the company is "Buy" (首次覆盖) [1] Core Views - The company has shown rapid performance growth, with a revenue of 11.463 billion yuan in 2023, representing a year-on-year increase of 25.99%. The net profit attributable to shareholders reached 1.904 billion yuan, up by 100.79% [1] - In Q1 2024, the company achieved a revenue of 3.025 billion yuan, reflecting a year-on-year growth of 34.53%, with a net profit of 364 million yuan [1] - The company has a strong order backlog in its smart power distribution business, totaling 10.494 billion yuan by the end of 2023, which is a 22.09% increase year-on-year [1] - The company is expanding its overseas presence, having established a mature sales system in over 70 countries and regions, with new factories in Germany and Mexico [1] Financial Performance Summary - Revenue projections for the company are as follows: - 2024E: 14.356 billion yuan (growth rate of 25.2%) - 2025E: 17.740 billion yuan (growth rate of 23.6%) - 2026E: 21.821 billion yuan (growth rate of 23.0%) [2] - Net profit projections are: - 2024E: 2.307 billion yuan (growth rate of 21.2%) - 2025E: 2.842 billion yuan (growth rate of 23.2%) - 2026E: 3.506 billion yuan (growth rate of 23.4%) [2] - The company’s return on equity (ROE) is expected to improve from 17.2% in 2023 to 20.2% by 2026 [2] Market Data - As of April 26, 2024, the current stock price is 33.86 yuan, with a 52-week price range of 11.82 to 36.66 yuan. The total market capitalization is approximately 48.22 billion yuan [1] - The company has a total share capital of 141.12 million shares, with a circulating market value of 47.66 billion yuan [1] Operational Highlights - The company’s smart power distribution business generated 8.612 billion yuan in revenue in 2023, marking a year-on-year increase of 23.99% [1] - The company has successfully won significant overseas projects, including a 310 million yuan smart meter project in Brazil and a 466 million yuan transformer project in Greece [1]

证券研究报告 | 年报点评报告 2024年05月05日 三星医疗（601567.SH） 24Q1 海外订单持续高增，海外配用电有望持续突破 事件：公司发布2023年报及2024年一季报。2023年公司营收114.63亿 买入（维持） 元，同增 25.99%；归母净利 19.04 亿元，同增 100.79%。全年投资收益 股票信息 2.96亿元，其中长期股权投资2.3亿元。全年汇兑收益4000万以上。23Q4 行业 电网设备 单季营收 31.25亿元，同增 42.24%；归母净利 4.14亿元，同增 68.09%。 24Q1营收30.25亿元，同增34.53%；归母净利3.64亿元，同增35.15%。 前次评级 买入 4月30日收盘价(元) 33.70 配用电业务公司主要营收，24Q1海外在手订单维持高景气。 总市值(百万元) 47,557.34 总股本(百万股) 1,411.20 1）分业务看：2023 年公司配用电业务收入 84.36 亿元，同增 23.90%，毛 其中自由流通股(%) 98.85 利率34.12%（+5.49pct）；医疗服务业务收入27.83亿元，同增34.73%， 毛利率31.73%（ ...