证券代码：601966 证券简称：玲珑轮胎 公告编号：2024-073 山东玲珑轮胎股份有限公司关于控股股东 签署《上市公司股票增持贷款合同》暨增持 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个别及连带责任。 重要内容提示： 增持计划内容：山东玲珑轮胎股份有限公司（以下简称"公司"） 控股股东玲珑集团有限公司（以下简称"玲珑集团"）计划于 2024 年 8 月 9 日起 6 个月内，以自有资金或自筹资金通过上海证券交易所系 统增持本公司股份，累计增持金额不低于人民币 1.5 亿元不超过人民 币 2 亿元。具体内容详见《山东玲珑轮胎股份有限公司关于控股股东 计划增持公司股份的公告》（公告编号 2024-052）。 增持计划实施进展： 1、2024 年 10 月 19 日玲珑集团与中国建设银行股份有限公司烟 台分行签署《上市公司股票回购/增持贷款合同》，为积极响应国家政 策，支持企业高质量发展，同时鉴于玲珑集团的股票增持业务需要， 玲珑集团拟向中国建设银行股份有限公司烟台分行申请借款不超过 人民币 2 亿元，该项借款 ...

证券代码：601966 证券简称：玲珑轮胎 公告编号：2024-072 山东玲珑轮胎股份有限公司 关于回购股份注销实施暨股份变动的公告 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： 山东玲珑轮胎股份有限公司（以下简称"公司"）将注销回购 专用证券账户中 10,020,030 股股份，占注销前公司股份总数的 0.68%。本次注销完成后，公司股份总数将由 1,473,522,713 股变更 为 1,463,502,683 股。 本次注销股份的有关情况 | 回购专户股份数量 | | 注销股份数量 | | | 注销日期 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 10,020,030 | 股 | 10,020,030 股 | 2024 | 年 | 10 | 月 | 15 日 | 截止 2023 年 10 月 18 日，公司已累计回购股份共 10,020,030 股， 回购股份数量已达到回购方案上限，即本次回购方案实施完毕。公司 实际通过集中 ...

Investment Rating - The report maintains a "Buy" rating for Linglong Tire (601966.SH) [1][2] Core Views - The company is expected to achieve a net profit of 16.50 billion to 17.50 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 72% to 82% [5] - The overall sales volume of the company has shown a growth trend, with a year-on-year increase of approximately 11% in the first three quarters [5] - The company plans to invest an additional 4.62 billion yuan in expanding its Serbia base, which is expected to become a significant growth point for future performance [5] Summary by Sections Investment Rating - Current price is 19.62 yuan with a market cap of 28,910.52 million yuan [2] Financial Performance - Forecasted revenue for 2024 is 225.64 billion yuan, with net profits of 22.56 billion yuan [4][5] - Earnings per share (EPS) is projected to be 1.53 yuan for 2024, increasing to 2.20 yuan by 2026 [4][5] Sales and Profitability - The company received approximately 300 million yuan in anti-dumping tax refunds, which is expected to enhance non-recurring income [5] - The gross profit margin is projected to improve, with a net profit margin of 25.20% expected in 2024 [7] Market Position and Strategy - The company is actively optimizing product upgrades and making structural adjustments in domestic and international retail and supporting markets [5] - The Serbia factory is entering a phase of capacity release, supporting rapid growth in overseas markets [5]

Investment Rating - The report maintains an "Outperform" rating for Linglong Tire (601966) [5] Core Views - The company achieved a net profit attributable to shareholders of 1.65-1.75 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 72%-82% [5] - The third quarter net profit attributable to shareholders is estimated to be 725-825 million yuan, with a year-on-year growth of 94% and a quarter-on-quarter increase of 60% [5] - The increase in profit is attributed to rising overseas sales and tax rebates, with a significant contribution from the Thai tax rate reduction [5][6] - The company is actively upgrading its products and adjusting its structure in both domestic and international markets [5] - The production capacity in Serbia is gradually becoming profitable, with plans for further expansion to support future growth [6] Summary by Sections Market Data - Closing price: 19.00 yuan - Market capitalization: 27,997 million yuan - Price-to-book ratio: 1.3 - Dividend yield: 2.51% [2] Financial Data - Net asset per share: 14.41 yuan - Debt-to-asset ratio: 51.79% [3] Sales and Profit Forecast - Total revenue forecast for 2024-2026 is approximately 21.3 billion, 25.1 billion, and 28.2 billion yuan respectively, with corresponding PE ratios of about 13, 11, and 10 [6] - The company expects a total revenue of 22,911 million yuan in 2024, with a year-on-year growth rate of 13.6% [7] - The projected net profit for 2024 is 2,133 million yuan, reflecting a year-on-year increase of 53.4% [7] Production and Sales Performance - The company sold approximately 61.44 million tires in the first three quarters of 2024, a year-on-year increase of about 11% [5] - The third quarter sales volume was around 21.54 million tires, with a year-on-year growth of 11.2% [5]

Financial Performance - The company expects a net profit attributable to shareholders for the first three quarters of 2024 to be between 1.65 billion and 1.75 billion CNY, an increase of 690 million to 790 million CNY compared to the same period last year, representing a year-on-year growth of 72% to 82%[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be between 1.35 billion and 1.43 billion CNY, an increase of 459 million to 539 million CNY compared to the same period last year, representing a year-on-year growth of 52% to 60%[5]. - The total profit for the same period last year was 1.033 billion CNY, with a net profit attributable to shareholders of 960 million CNY[6]. - The performance forecast is based on preliminary calculations by the company's financial department and has not yet been audited by registered accountants[8]. - Investors are advised to pay attention to investment risks as the forecast data is preliminary and the accurate financial data will be disclosed in the official third-quarter report[9]. Sales and Market Growth - The company achieved a sales volume growth of approximately 11% year-on-year for the first three quarters of 2024, with significant growth in the sales of passenger car tires[7]. - The overseas second base has gradually released production capacity, supporting sales growth in overseas markets[7]. Operational Improvements - The company received anti-dumping tax refunds in the third quarter, which contributed to increased revenue[7]. - The company is actively upgrading products and conducting structural adjustments in both domestic and international retail and supporting markets[7]. - The company has been continuously promoting cost reduction and efficiency improvement, leading to a significant enhancement in profitability[7].

Investment Rating - The report maintains a "Buy" rating for Linglong Tire (601966) with a target price of 22.95 CNY over the next six months [1]. Core Insights - The tire industry shows steady demand, with an increasing market share for Chinese automotive tires. In the first half of 2024, global tire sales reached 900 million units, a year-on-year increase of 2.7%. The share of domestic tire production in global demand rose from 34.7% in 2016 to 44.0% in 2023, an increase of 9.3 percentage points [2][22]. - The company has improved its product structure and profitability, with sales gross margin and net margin reaching 22.7% and 8.9% respectively in the first half of 2024, up 4.9 and 2.8 percentage points year-on-year [2][24]. - The "7+5" and "3+3" global strategies are being actively implemented, providing upward potential for performance. The Serbian project is being expanded, offering tax and transportation advantages. The planned capacity for non-road tires is 331,000 tons per year, with expected annual revenue of 10 billion CNY upon reaching full capacity [2][20]. Summary by Sections 1. Strategic Layout - The company is executing the "7+5" strategy, aiming to establish seven domestic and five overseas production bases by 2030. This includes the "3+3" layout for non-road tires, with three domestic and three overseas factories planned [20][22]. 2. Demand and Supply Dynamics - Demand for semi-steel tires remains robust, while the non-road tire market is seen as a blue ocean opportunity. The global tire demand is gradually recovering, with a projected increase in sales [2][33]. - The company is enhancing its supply chain and optimizing its product structure to improve profitability [2][28]. 3. Financial Performance - The company reported a revenue of 201.7 billion CNY in 2023, a year-on-year increase of 18.6%, and a net profit of 13.9 billion CNY, up 376.9% [22][24]. - For the first half of 2024, revenue was 103.8 billion CNY, with a net profit of 9.3 billion CNY, reflecting a year-on-year increase of 12.4% and 65.0% respectively [22][24]. 4. Market Position and Brand Strategy - Linglong Tire has a diversified product range and a multi-brand strategy, with products sold in 173 countries. The brand value reached 98.14 billion CNY in the first half of 2024 [19][29]. - The company is focusing on high-end tire products and expanding its overseas market presence, particularly in Serbia and Thailand [28][29].

关于山东玲珑轮胎股份有限公司 中信证券股份有限公司 根据公司 2024 年第五届董事会第十九次会议审议通过的《关于公司 2024 年 第二季度利润分配方案的议案》： 2024 年第二季度差异化分红事项的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐机构"）作为山东 玲珑轮胎股份有限公司（以下简称"玲珑轮胎"、"公司"）2022 年度非公开发 行股票（以下简称"本次发行"）的保荐机构，根据《中华人民共和国公司法》、 《中华人民共和国证券法》《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》等相关法律法规、规范性文件以及《山东 玲珑轮胎股份有限公司章程》的规定，对玲珑轮胎 2024 年第二季度利润分配所 涉及的差异化分红（以下简称"本次差异化分红"）相关事项进行了核查，并出具 核查意见如下： 一、本次差异化分红的原因 截止 2024 年 9 月 2 日，公司已回购至专用账户的股份有 10,020,030 股。根 据《公司法》《证券法》《上海证券交易所上市公司自律监管指引第 7 号——回 购股份》等相关法律法规、其他规范性文件以及《公司章程》的有关规定，上市 公司回 ...

相关日期 证券代码：601966 证券简称：玲珑轮胎 公告编号：2024-070 山东玲珑轮胎股份有限公司 2024 年第二季度权益分派实施公告 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： 每股分配比例 A 股每股现金红利 0.1 元 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2024/9/26 | － | 2024/9/27 | 2024/9/27 | 差异化分红送转： 是 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司 2024 年 5 月 15 日的 2023 年年度股东大会授权，并经公司 2024 年 8 月 26 日的第五届董事会第十九次会议审议通过。 二、 分配方案 1. 发放年度：2024 年第二季度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股 ...

Investment Rating - The report maintains a "Buy" rating for Linglong Tire, expecting the stock price to outperform the industry index by over 15% in the next six months [14]. Core Views - Linglong Tire achieved significant growth in 1H24, with revenue reaching 10.38 billion yuan, up 12.37% year-on-year, and net profit attributable to shareholders increasing by 64.95% to 0.925 billion yuan [1][2]. - The company is expanding its production capacity in Serbia, which is expected to drive revenue and profit growth in the coming years [6][2]. - The report highlights the company's strong position in the high-end tire market, with numerous new projects in both domestic and international markets [2][6]. Financial Summary - **Revenue Growth**: The company’s revenue is projected to grow from 23.975 billion yuan in 2024 to 31.129 billion yuan in 2026, with year-on-year growth rates of 18.9%, 15.9%, and 12.0% respectively [1][6]. - **Net Profit**: The net profit is expected to increase from 2.225 billion yuan in 2024 to 3.361 billion yuan in 2026, with growth rates of 60.0%, 22.4%, and 23.4% [1][6]. - **Earnings Per Share (EPS)**: EPS is projected to rise from 1.51 yuan in 2024 to 2.28 yuan in 2026 [1][6]. - **Return on Equity (ROE)**: ROE is expected to improve from 9.8% in 2024 to 11.9% in 2026 [1][6]. Operational Highlights - In 1H24, the company produced 43.39 million tires, a year-on-year increase of 18.71%, and sold 39.91 million tires, up 10.88% [2][6]. - The company has made significant strides in the high-end tire market, securing new projects with major domestic and international automotive brands [2][6]. - The expansion of the Serbian facility is anticipated to enhance production capacity significantly, with plans to produce 1.1 million high-performance tires annually upon completion [6].

证券代码：601966 证券简称：玲珑轮胎 公告编号：2024-069 山东玲珑轮胎股份有限公司 ●本次担保金额及已实际为其提供的担保余额： 山东玲珑轮胎股份有限公司（以下简称"公司"）本次为全资子 公司塞尔维亚玲珑提供担保金额为 6,824,151.00 欧元，截止本公告 日，公司已实际为其提供的担保余额为 3,214.94 万欧元。 ●本次担保是否有反担保：无 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：Linglong International Europe d.o.o. Zrenjanin（以下简称"塞尔维亚玲珑"） ●对外担保逾期的累计数量：无 一、担保情况概述 近日，因子公司塞尔维亚玲珑业务需要，公司向中国银行股份有 限公司申请开立了其他非融资性保函，保函金额为 6,824,151.00 欧 元。公司为中国银行股份有限公司开具的保函提供保证金质押及信用 担保，担保金额为 6,824,151.00 欧元。 根据公司 2024 年 4 月 24 日召开的第五届董事会第十六次会 ...