股票代码：601886 股票简称：江河集团 公告编号：临2024-016 江河创建集团股份有限公司 关于持股5%以上股东进行部分股份质押续期的公告 本公司及董事会全体成员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、准确和完整承担个别及连带责任。 江河汇众还款来源包括公司分红、投资收益等。后续如出现平仓风险，上述股 东将采取包括补充质押、提前还款等措施应对上述风险，敬请投资者注意投资风险。 特此公告。 江河创建集团股份有限公司董事会 2024 年 3 月 29 日 1 重要内容提示: 北京江河汇众企业管理合伙企业（有限合伙）（下称"江河汇众"）持有江 河创建集团股份有限公司（下称"公司"）股份 15,613.76 万股，占公司总股本的 13.78%。截至本公告披露日，江河汇众持有公司股份已累计质押（含本次质押股份 数量）11,565 万股，已累计质押数量约占其所持公司股份总数的 74.07%，占公司总 股本的 10.21%。 公司持股 5%以上股东江河汇众与海通证券股份有限公司（下称"海通证券"） 于 2023 年 3 月 27 日办理了股份质押融资业务，详见公司披露的临 20 ...

Investment Rating - The report maintains a "Buy" rating for Jianghe Group, with a target price of 6.10 CNY per share [1]. Core Insights - Jianghe Group reported a revenue of 20.95 billion CNY in 2023, representing a year-on-year growth of 16.05%. The net profit attributable to shareholders reached 672 million CNY, up 36.89% year-on-year, while the net profit excluding non-recurring items surged by 142.13% to 694 million CNY [1][4]. - The company plans to distribute a cash dividend of 2 CNY per 10 shares to all shareholders, totaling 227 million CNY [1]. Summary by Sections Financial Performance - Revenue and net profit for 2023 were 20,954 million CNY and 672 million CNY, respectively, with growth rates of 16% and 37% forecasted for 2024 [1]. - The company’s earnings per share (EPS) for 2023 was 0.59 CNY, with projections of 0.74 CNY for 2024 and 1.04 CNY for 2025 [1]. - The gross profit margin for 2023 was 17.18%, a slight increase of 0.49 percentage points year-on-year, while the net profit margin improved to 3.55% [4]. Order Backlog and Growth Potential - Jianghe Group's construction decoration segment secured a total bid amount of approximately 25.84 billion CNY in 2023, marking a 9.70% increase year-on-year. The backlog of orders stood at 33.39 billion CNY as of December 31, 2023 [4][5]. - The company has seen significant growth in its BIPV (Building Integrated Photovoltaics) business, with orders amounting to 1.37 billion CNY in 2023, a year-on-year increase of 60.42% [5][6]. Market Outlook - The BIPV market is identified as a new growth area with substantial potential, driven by favorable policies and the increasing integration of photovoltaic technology in building facades [5]. - Jianghe Group is positioned as a leader in the BIPV sector, leveraging its experience and capabilities to capture market opportunities [6]. Future Projections - The report forecasts Jianghe Group's net profit attributable to shareholders to reach 841 million CNY in 2024, 1.18 billion CNY in 2025, and 1.54 billion CNY in 2026, with corresponding P/E ratios of 8.2, 5.9, and 4.5 [1][9].

股 票 研 究 公 司 更 新 报 告 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------|----------------------------------------------------|------------------------------------------|-----------------------|-------------------------|-----------------------------|-------------------------|--------------------------------|---------------------------------|--------------------|-------------------| | [Table_Title] \n江河集团 | (601886) | | | | | [Table_industryInfo] | [Table_Invest] 评级： ...

Financial Performance - The company's operating revenue for 2023 reached ¥20,954,284,895.33, representing a 16.05% increase compared to ¥18,056,403,834.00 in 2022[22]. - Net profit attributable to shareholders for 2023 was ¥671,740,595.74, a 36.89% increase from ¥490,716,771.46 in 2022[22]. - The basic earnings per share for 2023 was ¥0.59, up 37.21% from ¥0.43 in 2022[24]. - The weighted average return on equity increased to 10.01% in 2023, up by 2.27 percentage points from 7.74% in 2022[24]. - The net cash flow from operating activities for 2023 was ¥861,286,198.42, a significant recovery from a negative cash flow of ¥152,645,601.86 in 2022[22]. - The total assets of the company as of the end of 2023 were ¥28,705,968,853.81, reflecting a 6.53% increase from ¥26,946,937,275.00 at the end of 2022[22]. - The net assets attributable to shareholders increased by 11.07% to ¥7,069,370,367.65 at the end of 2023, compared to ¥6,364,947,074.78 at the end of 2022[22]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching ¥694,153,119.17 in 2023, up 142.13% from ¥286,684,426.27 in 2022[22]. - The company achieved a revenue of approximately 20.95 billion RMB, representing a year-on-year growth of 16.05%[33]. - The net profit for the period was 743 million RMB, an increase of 35.35% year-on-year, while the net profit attributable to shareholders grew by 36.89% to 672 million RMB[33]. Dividend Policy - The profit distribution plan for 2023 is to distribute a cash dividend of 2 RMB (including tax) for every 10 shares based on a total share capital of 1,133,002,060 shares[4]. - The company maintained a cash dividend policy, distributing a cash dividend of 0.2 yuan per 10 shares for the 2022 fiscal year, despite the dividend amount being less than 30% of the net profit attributable to shareholders[44]. - The company declared a cash dividend of CNY 226,600,412, which represents 33.73% of the net profit attributable to ordinary shareholders in the consolidated financial statements[165]. Corporate Governance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the operation of the shareholders' meeting, board of directors, and supervisory board is standardized[124]. - The board of directors consists of nine members, including three independent directors, and has established specialized committees to enhance governance effectiveness[127]. - The supervisory board is responsible for overseeing the company's management and financial status, ensuring the interests of the company and all shareholders are protected[128]. - The company has implemented an investor relations management system to facilitate effective communication with investors and enhance transparency regarding its operational status and development prospects[133]. - The company maintained independence from its controlling shareholders in terms of assets, personnel, finance, and business operations[134]. Market Position and Strategy - The company ranked first in the comprehensive ranking of the Chinese architectural decoration industry for the sixth consecutive year, reflecting its strong market position[43]. - The company is focusing on high-quality development in the construction decoration industry amidst increasing market competition and challenges[105]. - The company anticipates a significant market demand increase for its specialty photovoltaic components due to the rapid development of photovoltaic building integration, driven by the "dual carbon" strategy and new regulatory policies[106]. - The company is expanding its market presence, targeting three new regions in Asia, which is anticipated to increase market share by 10%[140]. - The company is accelerating the domestic and international sales of BIPV products, aiming to create a new profit growth point through synergies with its existing curtain wall business[112]. Research and Development - The company obtained 103 authorized patents in 2023, bringing the total to 1,029, with one patent winning the China Patent Excellence Award, showcasing its leadership in technology innovation[41]. - The company has 1,541 R&D personnel, accounting for 16.25% of the total workforce[80]. - Research and development expenses totaled 619 million RMB, accounting for 2.96% of total revenue[79]. - The company is investing in specialty photovoltaic component production lines, but faces risks related to local policies and market conditions that could affect sales performance[119]. Operational Efficiency and Quality Control - The company has established a comprehensive quality control system based on ISO9001, ensuring high standards in raw materials, product quality, and customer service[90]. - The company aims to enhance its quality management level continuously, focusing on creating high-quality projects and improving customer satisfaction[90]. - The company has implemented a competitive salary policy, adjusting salaries for key personnel and high performers to improve employee satisfaction[156]. - The company has enhanced its internal management and operational efficiency through a matrix management approach[167]. Risks and Challenges - The company faces significant risks including policy risks and market competition risks[6]. - The company is sensitive to fluctuations in raw material prices, which could adversely affect its profitability if prices rise significantly[117]. - The company is experiencing increased competition in the private ophthalmology sector, which may affect its business growth despite efforts to differentiate through chain operations[107]. - The company is actively exploring and developing business models that adapt to regional medical insurance policies and healthcare reform directions to mitigate policy risks in the healthcare sector[120]. Social Responsibility and Sustainability - The company has invested CNY 171.66 million in various charitable and educational initiatives, benefiting 300 individuals[173]. - The company has allocated CNY 19.66 million towards poverty alleviation and rural revitalization projects, impacting 260 individuals[174]. - The company implemented carbon reduction measures that resulted in a decrease of 608.31 tons of CO2 equivalent emissions[172]. Legal and Compliance - The company has not faced any significant litigation or arbitration matters during the reporting period[185]. - The company has not encountered any non-compliance issues regarding the use of funds by controlling shareholders or related parties[178]. - The company has not faced any risks of delisting or bankruptcy reorganization[184].

净利润大幅增长，BIPV 业务助推打造第二成长曲线 BIPV 订单高增长，看好公司国际化业务拓展 从毛利率情况来看，建筑装饰、医疗健康业务毛利率分别为 16.6%、27.9%， 分别同比+0.47pct、+2.11pct，公司综合毛利率为 17.2%，同比+0.49pct。 费用率同比下滑 1.29pct 至 10.38%，销售、管理、研发、财务费用率分别 为 1.28%、5.45%、2.96%、0.7%，分别同比变动-0.01pct、-1.07pct、+0.05pct、 -0.26pct，成本管控及费用摊薄效果显著。资产及信用减值为 4.1 亿元，同 比减少 0.61 亿元，综合来看净利率为 3.55%，同比提升 0.5pct，盈利能力 明显改善。现金流来看，公司 23 年 CFO 净额为 8.61 亿元，同比多流入 10.14 亿元，经营现金流净额大幅好转，收付现比分别为 100.27%、100.07%，分 别同比-2.65pct、-7.63pct，总资产周转率为 0.75，同比提升 0.1 次。 风险提示：新业务拓展不及预期，海外经营风险，地产下行压力较大。 作者 公司报告 | 年报点评报告 公司 23 ...

Investment Rating - The investment rating for Jianghe Group is "Buy" with a target price of 10.59 CNY per share, compared to the current price of 6.10 CNY [4][3]. Core Insights - Jianghe Group's revenue for 2023 reached 20.95 billion CNY, a year-on-year increase of 16.1%, with a net profit attributable to shareholders of 672 million CNY, up 36.9% year-on-year. The company reported a significant increase in non-recurring net profit, which rose by 142.1% year-on-year [3][7]. - The company has commenced production at its flexible manufacturing base for BIPV photovoltaic customized components in Hubei, which is expected to contribute to revenue growth in the future. The BIPV business is projected to gradually ramp up as traditional curtain walls transition to photovoltaic curtain walls [3][7]. - The company anticipates net profits attributable to shareholders of 800 million CNY, 946 million CNY, and 1.12 billion CNY for the years 2024, 2025, and 2026, respectively [3][8]. Financial Summary - Revenue for 2023 was 20.95 billion CNY, with a growth rate of 16.0% expected for 2024 [8]. - The EBITDA for 2023 was 1.80 billion CNY, with projections of 1.91 billion CNY for 2024 [8]. - The net profit attributable to shareholders for 2023 was 672 million CNY, with a projected increase to 800 million CNY in 2024 [8]. - The company achieved a cash flow from operating activities of 861 million CNY in 2023, a significant improvement from a net outflow of 153 million CNY in 2022 [12][8]. - The gross margin for 2023 was 17.19%, reflecting an increase of 0.49 percentage points year-on-year [7][8].

江河创建集团股份有限公司 2023年度独立董事述职报告 作为江河创建集团股份有限公司(以下简称"公司")的独立董事,我本着对全 体股东负责的态度,切实维护广大中小股东利益的原则,严格按照《公司法》《证 券法》、《上市公司治理准则》、《上市公司独立董事管理办法》等规定和要求,在2023 年度工作中,勤勉尽责地履行独立董事的职责和义务,审慎行使公司和股东所赋予 的权利,积极出席股东大会或董事会等相关会议,认真审议各项议案,对重大事项 发表了公正、客观的独立意见,充分发挥了独立董事的作用,有效维护了公司整体 利益及全体股东的合法权益。现将本人 2023年度履行职责情况汇报如下: 一、独立董事基本情况 朱青:中国国籍,无境外永久居留权,男,1957年出生,经济学博士。曾作为 访问学者和高级访问学者出访欧盟委员会预算总司、美国纽约州立大学（布法罗） 管理学院和美国加州大学伯克利分校经济系。现任兴业银行股份有限公司外部监事, 中国信托业保障基金有限责任公司外部监事:东兴证券股份有限公司独立董事,公司 独立董事。 2. 是否存在影响独立性的情况进行说明 经自查,本人符合相关法律法规对独立董事的独立性要求,不存在任何影响独 ...

江河创建集团股份有限公司对会计师事所 2023 年度履职情况的评估报告 江河创建集团股份有限公司(以下简称"公司")聘请容诚会计师事务所（特 殊普通合伙）（以下简称"容诚"）作为公司 2023 年度审计机构。根据财政部、 国资委及证监会颁布的《国有企业、上市公司选聘会计师事务所管理办法》等法 律法规的要求，公司对容诚 2023 年度履职情况进行了评估，具体情况汇报如下： 一、2023 年年审会计师事务所基本情况 (一）会计师事务所基本情况 容诚会计师事务所（特殊普通合伙）由原华普天健会计师事务所（特殊普通 合伙）更名而来，初始成立于 1988 年 8 月，2013 年 12 月 10 日改制为特殊普通 合伙企业，是国内最早获准从事证券服务业务的会计师事务所之一，长期从事证 券服务业务。注册地址为北京市西城区阜成门外大街 22 号 1 幢外经贸大厦 901- 22 至 901-26，首席合伙人肖厚发。 (二）续聘会计师事务所履行的程序 公司审计委员会、第六届董事会第七次会议及 2022 年年度股东大会审议通 过了《关于续聘会计师事务所的议案》，同意聘任容诚为公司 2023 年度财务报 告和内部控制审计机构。 二 ...

公司代码：601886 公司简称：江河集团 江河创建集团股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以下简称企业内部 控制规范体系），结合本公司（以下简称"公司"）内部控制制度和评价办法，在内部控制日常监督和专 项监督的基础上，我们对公司2023年12月31日（内部控制评价报告基准日）的内部控制有效性进行了评 价。 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露内 部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责组织 领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存 在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法 律责任。 江河创建集团股份有限公司 2023 年度内部控制评价报告 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整，提 高经营效率和效果，促进实现发展战略。由于内部控制存在的固有局限性，故仅能为实现上述目标提供 合理保证。此外，由于情况的变 ...

股票代码：601886 股票简称：江河集团 公告编号：临2024-010 江河创建集团股份有限公司 关于聘任 2024 年度会计师事务所的公告 1.基本信息 容诚会计师事务所（特殊普通合伙）由原华普天健会计师事务所（特殊普通 合伙）更名而来，初始成立于 1988 年 8 月，2013 年 12 月 10 日改制为特殊普通 合伙企业，是国内最早获准从事证券服务业务的会计师事务所之一，长期从事证 券服务业务。注册地址为北京市西城区阜成门外大街 22 号 1 幢外经贸大厦 901-22 至 901-26，首席合伙人肖厚发。 2.人员信息 截至 2023 年 12 月 31 日，容诚会计师事务所共有合伙人 179 人，共有注册 会计师 1395 人，其中 745 人签署过证券服务业务审计报告。 3.业务规模 容诚会计师事务所经审计的 2022 年度收入总额为 266,287.74 万元，其中审 计业务收入 254,019.07 万元，证券期货业务收入 135,168.13 万元。 本公司及董事会全体成员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、准确和完整承担个别及连带责任。 重要内 ...