Core Viewpoint - Zhengzhou Coal Mining Machinery Group (Zheng Coal Machine) has a projected dividend yield exceeding 8% for 2024, with a focus on business development and shareholder returns amidst concerns over U.S. tariffs and coal prices [1][2]. Financial Performance - In 2024, Zheng Coal Machine achieved total operating revenue of 37.025 billion yuan, a year-on-year increase of 1.73% - The net profit attributable to shareholders reached 3.934 billion yuan, reflecting a growth of 20.16% - The non-recurring net profit was 3.604 billion yuan, up by 19.05% - The company plans to distribute a cash dividend of 1.12 yuan per share, totaling 1.956 billion yuan, which represents 49.72% of the net profit attributable to shareholders for 2024, resulting in a dividend yield of 8.05% based on the closing price [1]. Business Development and Strategy - Zheng Coal Machine's overseas business revenue for 2024 is estimated at approximately 12 billion yuan, with successful market penetration in countries like Australia, the U.S., India, Turkey, Vietnam, and Indonesia [2]. - The company is committed to a transformation strategy focusing on electrification, intelligence, digitalization, and globalization, aiming for a 100 billion yuan development target by 2030 [2]. - The coal machinery segment is expected to significantly contribute to profit growth in 2024, with an improved revenue structure and higher profit margin products [2]. Market Concerns and Opportunities - There are concerns regarding the impact of declining coal prices on the profitability of coal companies, which may affect equipment investment [3]. - However, the company acknowledges the rapid development of intelligent mining equipment, with a projected penetration rate of 20%-30% for intelligent mining faces in the coming years, indicating a dual demand for new and replacement equipment [3]. - To mitigate potential domestic market impacts, the company is intensifying efforts in overseas market development, particularly in coal mining equipment [3]. Automotive Parts Segment - The automotive parts segment is focused on core business growth and market share expansion, with an emphasis on transitioning to new energy vehicles and enhancing competitiveness [4]. - The company is actively developing the new energy vehicle market and expanding its share in chassis damping business, while also exploring new business opportunities in high-pressure motor components [4].

郑煤机 601717.SH 公司研究 | 年报点评 24 年业绩稳健增长，红利价值凸显 ——郑煤机 2024 年报点评 核心观点 盈利预测与投资建议 ⚫ 考虑到煤炭行业景气度短期承压，我们小幅下调公司收入增速；24 年公司利润率较高的煤机产 品占比提升，我们预期 25 年或逐渐回归正常均值水平，我们小幅下调 25 年毛利率预期；企业 具有优秀的费用控制和成本管控能力，我们下调期间费用率。而随着行业需求修复和规模效应 提升，我们认为板块 26-27 年盈利将继续提升。我们预测公司 2025-2027 年归母净利润分别 39.34、43.63、48.65 亿元，每股收益分别为 2.20、2.44、2.73 元（原预测 2025-2026 年每股 收益分别为 2.20、2.48 元），参考可比公司估值，给予公司 25 年 10.6 倍 PE ，对应目标价约 为 23.32 元，维持买入评级。 公司主要财务信息 | | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入(百万元) | 36,396 | ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年3月31日 狀態: 新提交 FF301 致：香港交易及結算所有限公司 公司名稱: 鄭州煤礦機械集團股份有限公司 呈交日期: 2025年4月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00564 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 243,234,200 | RMB | | 1 RMB | | 243,234,200 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 243,234,200 | RMB | | 1 RMB | | 243,234,200 | | 2. 股份分類 | 普通股 | 股份類 ...

Core Viewpoint - The company reported strong financial performance for 2024, with revenue and net profit exceeding expectations, indicating resilience in a competitive market environment [1][2]. Group 1: Financial Performance - For the full year 2024, the company achieved revenue of 37.05 billion yuan, a year-on-year increase of 1.73%, and a net profit attributable to shareholders of 3.93 billion yuan, up 20.2% year-on-year, surpassing expectations [1]. - In Q4 2024, the company recorded revenue of 9.196 billion yuan, a year-on-year increase of 0.36%, and a net profit of 875 million yuan, up 8.49% year-on-year [1]. - The gross profit margin for Q4 2024 was 23.9%, an increase of 1.3 percentage points year-on-year, while the net profit margin was 9.52%, up 0.72 percentage points year-on-year [1]. Group 2: Business Segments - The coal machinery segment generated revenue of 19.47 billion yuan in 2024, a year-on-year increase of 3.3%, with net profit rising by 30.8% to 3.99 billion yuan, driven by higher revenue from high-margin products and lower raw material costs [2]. - The company achieved record high orders for complete sets of projects in the domestic market despite challenging market conditions, with significant growth in both order value and quantity [2]. - In the automotive segment, the company’s subsidiary, Yaxin Technology, reported revenue of 5.04 billion yuan, an increase of 18.94% year-on-year, primarily due to growth in new energy vehicle and commercial vehicle revenues [3]. Group 3: Market Expansion and Innovation - The company is expanding its business into new areas, including the development of new coal machinery products and intelligent mining systems, enhancing its competitive edge [2]. - The company has successfully entered the Kazakhstan market and signed major projects in Indonesia and Turkey, indicating a strategic push into international markets [2]. - The automotive segment faced challenges, with SEG reporting a revenue decline of 7.01% to 12.42 billion yuan, primarily due to reduced demand for fuel vehicles, particularly in Europe [3].

煤机业务再创新高，新能源汽车业务持续 突破 证券研究报告-年报点评 买入(维持) 专用机械 分析师：刘智 登记编码：S0730520110001 liuzhi@ccnew.com021-50586775 市场数据(2025-03-31) | 收盘价(元) | 15.85 | | --- | --- | | 一年内最高/最低(元) | 18.01/10.67 | | 沪深 300 指数 | 3,887.31 | | 市净率(倍) | 1.29 | | 流通市值(亿元) | 282.99 | 个股相对沪深 300 指数表现 -27% -20% -14% -7% -1% 6% 12% 18% 2024.04 2024.07 2024.11 2025.03 郑煤机 沪深300 资料来源：中原证券研究所，聚源 相关报告 《郑煤机(601717)季报点评：三季报增速小幅 放 缓 ， 煤 机 结 构 优 化 业 绩 稳 健 增 长 》 2024-11-06 《郑煤机(601717)公司深度分析：中报快速增 长，煤机、汽车零部件双轮驱动》2024-09-12 《郑煤机(601717)年报点评：煤机业务稳健增 长，汽车零部件盈 ...

Group 1 - The company will hold the 2024 annual performance briefing on April 9, 2025, from 15:00 to 16:30 [1][2] - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted via video and online interaction [2][3] - Participants in the briefing will include the company's general manager, independent directors, board secretary, financial director, and relevant department heads [2] Group 2 - Investors can participate in the briefing by logging into the Shanghai Stock Exchange Roadshow Center on the scheduled date and time [3] - Investors are encouraged to submit questions from April 2 to April 8, 2025, through the Roadshow Center or via the company's email [3] - After the briefing, investors can view the main content and outcomes of the event on the Roadshow Center's website [3]

[ T able_StockInfo] 2025 年 04 月 01 日 证券研究报告•2024 年年报点评 郑 煤 机（601717）机械设备 目标价：——元（6 个月） 买入 （维持） 当前价：15.39 元 煤机板块利润高增，汽零业务加速转型 | [Table_MainProfit] 指标/年度 | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业收入（百万元） | 37052.04 | 39510.44 | 43662.71 | 50148.89 | | 增长率 | 1.73% | 6.63% | 10.51% | 14.86% | | 归属母公司净利润（百万元） | 3933.84 | 4282.83 | 4800.29 | 5525.07 | | 增长率 | 20.16% | 8.87% | 12.08% | 15.10% | | 每股收益 EPS（元） | 2.20 | 2.40 | 2.69 | 3.09 | | 净资产收益率 ROE | 18.55% | 17.08% | 16.57% | 16.46% ...

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 | 2025/3/13 | | --- | --- | | 回购方案实施期限 | 2025/3/12~2025/9/11 | | 预计回购金额 | 50,000 万元~60,000 万元 | | 回购价格上限 | 17.00 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 | 3,912.0130 万股 | | 实际回购股数占总股本比例 | 2.19% | | 实际回购金额 | 59,991.7693 万元 | | 实际回购价格区间 | 15.05 元/股~15.86 元/股 | 重要内容提示： 一、 回购审批情况和回购方案内容 郑州煤矿机械集团股份有限公司（简称"公司"）于 2025 年 3 月 12 日召开第 六届董事会第十二次会议，审议通过了《关于以集中竞价交易方式回购公司 A 股 股份方案的议案》，同意公司使用自有 ...

证券代码：601717 证券简称：郑煤机 公告编号：2025-027 郑州煤矿机械集团股份有限公司 关于召开 2024 年度业绩说明会的公告 重要内容提示： 郑州煤矿机械集团股份有限公司（以下简称"公司"）已于 2025 年 03 月 29 日在上海证券交易所网站（www.sse.com.cn）发布公司 2024 年年度报告。为便 于广大投资者更加全面深入地了解公司 2024 年度经营成果、财务状况，公司计 划于 2025 年 04 月 09 日（星期三）15:00-16:30 举行 2024 年度业绩说明会，就 投资者关心的问题进行交流。 一、说明会类型 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。 本次投资者说明会以视频结合网络互动召开，公司将针对 2024 年度的经营 成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 1 会议召开时间：2025 年 04 月 09 日（星期三）15:00-16:30 会议召开地点：上海证券交易所上证路演中心 （网址：https ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 鄭州煤礦機械集團股份有限公司 呈交日期： 2025年3月31日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | 601717 | 說明 | A股於上海證券交易所上市 | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件 ...