北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮编：100025 34/F, Tower 3, China Central Place, 77 Jianguo Road, Beijing 100025, China T: (86-10) 5809 1000 F: (86-10) 5809 1100 关于宁波海天精工股份有限公司 2024 年年度股东大会之法律意见书 宁波海天精工股份有限公司： 本所受贵公司的委托，担任贵公司 2024 年年度股东大会（以下称本次股东 大会）专项法律顾问，根据《中华人民共和国公司法》（以下称《公司法》）、 《中华人民共和国证券法》（以下称《证券法》）、《上市公司股东大会规则》 （以下称《股东大会规则》）及其他有关法律、行政法规之规定，对贵公司本次 股东大会进行见证，并出具本法律意见书。 为了出具本法律意见书，本所律师列席了贵公司本次股东大会并审查了贵公 司提供的本次股东大会有关文件的原件或影印件，包括（但不限于）召开贵公司 本次股东大会的通知以及本次股东大会的各项议程等文件，同时听取了贵公司就 有关事实的陈述和说明。贵公司已保证和承诺，贵公司提供的文件和所作的陈述 ...

证券代码：601882 证券简称：海天精工 公告编号：2025-011 宁波海天精工股份有限公司 2024年年度股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东大会召开的时间：2025 年 04 月 15 日 (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 | 193 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 388,897,602 | | 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 | 74.5014 | | 份总数的比例（%） | | (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。 本次会议由公司董事会召集，公司董事长张剑鸣先生因工作原因未能出席本 次股东大会，根据《公司章程》有关规定，经半数以上董事推举，本次股东大会 由董事赵万勇先生主持。本次股东大会采取现场投票和网络投票相结合的方 ...

Investment Rating - The report maintains an "Overweight" rating for the machinery equipment industry, particularly highlighting opportunities in semiconductor equipment due to tariff impacts [1]. Core Insights - The report emphasizes the impact of tariffs on the machinery equipment sector, particularly the 34% tariff on U.S. imports, which raises the total export tariff to the U.S. for engineering machinery to 79%. However, the actual impact on major companies is limited due to their low exposure to the U.S. market [1][2]. - The report identifies potential growth in domestic demand and the electric vehicle transition as key factors for the forklift segment, while also noting the limited impact of tariffs on exports [3]. - The semiconductor equipment sector is expected to benefit from increased domestic production due to tariffs, with a focus on both mature and advanced process equipment [4]. Summary by Sections Engineering Machinery - The report highlights that major engineering machinery companies have minimal exposure to the U.S. market, with SANY Heavy Industry at approximately 3% and XCMG at about 1% [1][2]. - Companies with overseas factories, particularly in North America and Mexico, are better positioned to mitigate tariff risks [2]. - The report recommends companies like SANY Heavy Industry, XCMG, and LiuGong for their strategic factory locations [2]. Forklifts - The report notes that domestic forklift manufacturers have limited exposure to the U.S. market, and the impact of tariffs is manageable due to pre-stocked inventory [3]. - It suggests that the domestic forklift market will see growth driven by the electric vehicle transition and government policies supporting domestic demand [3]. Semiconductor Equipment - The report indicates that the 34% tariff on U.S. imports will accelerate the domestic production of semiconductor equipment, particularly in mature processes where price sensitivity is higher [4]. - It recommends focusing on companies involved in both front-end and back-end semiconductor equipment, highlighting firms like North China Innovation and Zhongwei Company [4]. General Automation - The report suggests that the general automation sector will see limited impact from tariffs, with a focus on domestic demand for tools and automation products [5][8]. - It highlights the recovery in manufacturing and logistics sectors as potential growth drivers for the general automation market [8]. Investment Recommendations - The report provides a list of recommended companies across various segments, including semiconductor equipment, engineering machinery, and general automation, emphasizing their potential for growth in the current market environment [1][16].

宁波海天精工股份有限公司 会议资料 目 录 议案 6、关于 2025 年度为全资子公司申请银行综合授信额度提供担保的议案 议案 7、关于确定 2025 年度公司就买方信贷业务提供对外担保总额度的议案 议案 8、关于公司 2024 年度日常关联交易执行情况及 2025 年度日常关联交 一、2024 年年度股东大会会议议程 现场会议时间：2025 年 4 月 15 日 14 点 00 分 现场会议地点：浙江省宁波市北仑区小港街道海天路 1688 号海天大楼三楼会议 室 一、与会人员签到，领取会议资料；股东（或股东代理人）同时递交身份证明材 料（授权委托书、营业执照复印件、身份证复印件等）； 二、会议主持人宣布 2024 年年度股东大会会议开始； 三、会议主持人宣布出席股东大会现场会议的股东（或股东代理人）人数及所持 有的表决权股份总数，占公司有表决权股份总数的比例；并同时宣布参加现场会 议的其他人员； 四、提议现场会议的计票人和监票人； 五、董事会秘书宣读《2024 年年度股东大会会议须知》； 六、会议审议议案： 序号 议案名称 非累积投票议案 计的议案 七、听取《宁波海天精工股份有限公司独立董事 2024 年度 ...

宁波海天精工股份有限公司 2024 年年度股东大会 会议资料 2025 年 4 月 15 日 2024 年年度股东大会会议资料 目 录 | 一、2024 | | 年年度股东大会会议议程 2 | | --- | --- | --- | | 二、2024 | | 年年度股东大会会议须知 4 | | 三、2024 | 年年度股东大会议案 | 6 | | 议案 | 1、公司 2024 | 年度董事会工作报告 6 | | 议案 | 2、公司 2024 | 年度监事会工作报告 7 | | 议案 | 3、公司 2024 | 年年度报告及摘要 8 | | 议案 | 4、公司 2024 | 年度财务决算报告 9 | | 议案 | 5、关于公司 | 2024 年度利润分配方案的议案 10 | | 议案 | 6、关于 2025 | 年度为全资子公司申请银行综合授信额度提供担保的议案 | | | | 11 | | 议案 | 7、关于确定 | 2025 年度公司就买方信贷业务提供对外担保总额度的议案 | | | | 12 | | 议案 | 8、关于公司 | 2024 年度日常关联交易执行情况及 2025 年度日常关联交 | | 易预计 ...

Group 1: Key Insights from Reports - The report highlights that overseas growth remains strong, driven by both IP and product categories, with Pop Mart achieving a revenue of 13.04 billion RMB in 2024, a year-on-year increase of 106.9% [4][5] - The adjusted net profit for Pop Mart reached 3.4 billion RMB in 2024, reflecting a year-on-year growth of 185.9% [5][6] - The company plans to distribute a final dividend of 0.8146 RMB per share, totaling 1.094 billion RMB, which represents 35% of the net profit [6] Group 2: Company Performance and Growth - Xingtong Co. reported a revenue of 1.515 billion RMB in 2024, up 22% year-on-year, with a net profit of 350 million RMB, marking a 39% increase [12][13] - China Foreign Transport achieved a revenue of 105.621 billion RMB in 2024, a 3.9% increase, although net profit decreased by 7.2% to 3.918 billion RMB [16][17] - The company’s logistics and agency business volumes grew steadily, with contract logistics volume increasing by 4% and sea freight agency volume by 13% [17][18] Group 3: Industry Trends and Developments - The distributed energy storage demand is accelerating, with a focus on sodium battery solutions and new product iterations [21][24] - The report indicates that the global industrial storage market is entering a new growth phase, driven by economic viability and increasing backup power demands [24] - The wind power sector is experiencing a surge in component production, with significant increases in offshore wind projects expected in 2025 [25][26] Group 4: Investment Outlook - The report maintains a "buy" rating for Pop Mart, projecting revenues of 21.749 billion RMB, 30.671 billion RMB, and 38.205 billion RMB for 2025-2027, with adjusted net profits of 5.516 billion RMB, 8.026 billion RMB, and 9.974 billion RMB respectively [11] - Xingtong Co. is also rated as a "buy," with projected revenues of 1.943 billion RMB, 2.495 billion RMB, and 2.991 billion RMB for 2025-2027, alongside net profits of 417 million RMB, 494 million RMB, and 576 million RMB [15] - China Foreign Transport is expected to see revenues of 113.848 billion RMB, 118.386 billion RMB, and 122.636 billion RMB for 2025-2027, with net profits of 4.154 billion RMB, 4.300 billion RMB, and 4.429 billion RMB [20]

丨证券研究报告丨 公司研究丨点评报告丨海天精工（601882.SH） [Table_Title] 海天精工：营收稳健增长，制造业筑底修复 报告要点 [Table_Summary] 公司发布 2024 年报，24 年实现营收 33.52 亿元，同比+0.85%；归母净利润 5.23 亿元，同比 -14.19%；扣非归母净利润 4.71 亿元，同比-12.24%。单季度来看，24Q4 营收 8.59 亿元，同 比+5.23%；归母净利润 1.19 亿元，同比-18.31%；扣非归母净利润 1.09 亿元，同比-20.12%。 24 年公司产品销量保持稳健增长，卧加机型表现较为亮眼。分产品来看，24 年公司龙门、卧 加、立加销量分别同比增长 11.4%/32.0%/4.5%。公司短期业绩虽有所承压，但中长期仍将持 续受益于政策机遇、自主可控、出海等结构性机会。 分析师及联系人 [Table_Author] 赵智勇 臧雄 SAC：S0490517110001 SAC：S0490518070005 请阅读最后评级说明和重要声明 SFC：BRP550 SFC：BVO790 %% %% %% %% research.955 ...

[Table_StockNameRptType] 海天精工（601882） 公司点评 Q4 营收增速较前三季度提升，盈利略承压 | [Table_Rank] 投资评级：买入（维持） | | | --- | --- | | 报告日期： | 2025-03-28 | | [Table_BaseData] 收盘价（元） | 22.99 | | 近 12 个月最高/最低（元） | 29.96/18.24 | | 总股本（百万股） | 522 | | 流通股本（百万股） | 522 | | 流通股比例（%） | 100% | | 总市值（亿元） | 120.0 | | 流通市值（亿元） | 120.0 | [公司价格与 Table_Chart] 沪深 300 指数走势比较 -40% -30% -20% -10% 0% 10% 20% 30% 海天精工 沪深300 [分析师： Table_Author] 张帆 执业证书号：S0010522070003 邮箱： zhangfan@hazq.com 分析师： 陶俞佳 执业证书号：S0010524100004 邮箱：taoyujia@hazq.com 主要观点： e_ummar ...

[Table_StockNameRptType] 海天精工（601882） 公司点评 Q4 营收增速较前三季度提升，盈利略承压 | [Table_Rank] 投资评级：买入（维持） | | | --- | --- | | 报告日期： | 2025-03-28 | | [Table_BaseData] 收盘价（元） | 22.99 | | 近 12 个月最高/最低（元） | 29.96/18.24 | | 总股本（百万股） | 522 | | 流通股本（百万股） | 522 | | 流通股比例（%） | 100% | | 总市值（亿元） | 120.0 | | 流通市值（亿元） | 120.0 | [公司价格与 Table_Chart] 沪深 300 指数走势比较 -40% -30% -20% -10% 0% 10% 20% 30% 海天精工 沪深300 [分析师： Table_Author] 张帆 执业证书号：S0010522070003 邮箱： zhangfan@hazq.com 分析师： 陶俞佳 执业证书号：S0010524100004 邮箱：taoyujia@hazq.com 主要观点： e_ummar ...

Investment Rating - The report maintains a "Strong Buy" investment rating for the company [6][2]. Core Views - The company experienced a slight revenue increase of 0.85% year-on-year in 2024, reaching 3.352 billion yuan, but the net profit attributable to shareholders decreased by 14.19% to 523 million yuan [6][7]. - The report highlights a decline in overseas revenue by 37.41% to 372 million yuan, attributed to a complex international environment and increased geopolitical tensions, while domestic revenue grew by 9.25% to 2.918 billion yuan despite intensified competition in the mid-to-low-end product segment [6][7]. - The company is focusing on optimizing its product structure, with a notable increase in revenue from卧加 (horizontal machining centers) by 16.45% to 573 million yuan, while other product lines showed mixed results [6][7]. - The report anticipates revenue growth for the company in the coming years, projecting revenues of 3.704 billion yuan in 2025, 4.285 billion yuan in 2026, and 4.713 billion yuan in 2027, with corresponding net profits of 609 million yuan, 710 million yuan, and 791 million yuan respectively [6][7]. Financial Performance Summary - In 2024, the company's gross margin decreased to 27.34%, down 2.60 percentage points year-on-year, while the net margin fell to 15.6%, a decline of 2.74 percentage points [6][7]. - The fourth quarter of 2024 saw a revenue increase of 5.23% year-on-year to 859 million yuan, but net profit decreased by 18.31% to 119 million yuan [6][7]. - The report indicates that the company has maintained stable expense ratios, with an increase in R&D investment, reflecting a commitment to innovation and product development [6][7]. Market Position and Outlook - The company is expected to enhance its internal management efficiency and innovation capabilities, positioning itself favorably for long-term growth despite external uncertainties [6][7]. - The report emphasizes the importance of understanding key industries and product breakthroughs as part of the company's strategy moving forward [6][7].