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上海沪工: 上海沪工焊接集团股份有限公司公开发行可转换公司债券2025年跟踪评级报告
Zheng Quan Zhi Xing· 2025-06-20 11:23
Core Viewpoint - Shanghai Huguang Welding Group Co., Ltd. maintains a long-term credit rating of A with a stable outlook, reflecting its competitive advantages in the welding and cutting equipment manufacturing industry and its improved financial performance despite challenges in certain business segments [1][3][4]. Company Overview - The company was established in 1995 and transformed into a joint-stock company in 2011, listed on the Shanghai Stock Exchange in 2016 [10]. - The company specializes in the research, production, and sales of welding and cutting equipment, as well as intelligent manufacturing products [10][16]. Financial Performance - In 2024, the company achieved an operating revenue of 10.79 billion yuan, with a profit of 0.18 billion yuan, marking a turnaround from a loss in the previous year [11][30]. - The net cash inflow from operating activities increased by 73.12% to 1.89 billion yuan in 2024 [5]. - The company's total assets were 22.29 billion yuan at the end of 2024, with owner’s equity of 12.29 billion yuan [11]. Business Segments - The intelligent manufacturing business has shown improvement in revenue and profitability, while the high-end equipment supporting business faced challenges, with a 64.75% decline in revenue to 0.61 billion yuan in 2024 [5][20]. - The company’s products are sold nationwide and exported to over 110 countries, with overseas sales accounting for 68.19% of total revenue in 2024 [17]. Market Environment - The welding and cutting equipment industry is closely tied to macroeconomic conditions, with demand influenced by infrastructure projects and manufacturing sectors [12][14]. - The company benefits from favorable national policies aimed at promoting high-end manufacturing and infrastructure development [13][16]. Credit Rating and Outlook - The credit rating agency maintains the company's credit rating at A, with a stable outlook, indicating confidence in its financial stability and operational capabilities [1][3]. - The company has a strong ability to cover its convertible bonds with cash flow from operations, supported by a guarantee from a major shareholder [4][10]. Challenges and Risks - The high-end equipment supporting business is currently experiencing losses due to market conditions and policy changes, impacting overall profitability [5][20]. - The company has faced delays in its convertible bond fundraising projects, with completion dates pushed to 2025 due to unforeseen circumstances [5][29]. Management and Governance - The company underwent a board and supervisory committee reshuffle in 2024, but the changes did not adversely affect its operations [20]. - The management has implemented new internal policies to enhance operational efficiency and governance [20]. Future Prospects - The company is expected to maintain its competitive edge as the market stabilizes, with ongoing projects likely to contribute positively to future performance [4][20]. - The outlook for the welding and cutting equipment industry remains cautiously optimistic, contingent on macroeconomic stability and demand recovery [12][14].
上海沪工(603131) - 关于公开发行可转换公司债券2025年跟踪评级结果的公告
2025-06-20 10:32
特此公告。 上海沪工焊接集团股份有限公司董事会 2025 年 6 月 21 日 重要内容提示: 根据中国证券监督管理委员会《上市公司证券发行注册管理办法》和上海证 券交易所《股票上市规则》等有关规定,上海沪工焊接集团股份有限公司(以下 简称"公司")委托联合资信评估股份有限公司(以下简称"联合资信")对公 司及公开发行的可转换公司债券(以下简称"沪工转债")进行了跟踪信用评级。 公司前次主体长期信用评级结果为"A",前次债券评级结果为"A",评级 展望为"稳定",评级机构为联合资信评估股份有限公司,评级时间为 2024 年 6 月 26 日。 联合资信在对公司经营状况和相关行业进行了综合分析与评估的基础上,于 2025 年 6 月 20 日出具了《上海沪工焊接集团股份有限公司公开发行可转换公司 债券 2025 年跟踪评级报告》(联合[2025]4613 号)。本次公司主体长期信用评级 为"A",债券评级结果为"A",评级展望为"稳定"。本次评级结果较前次无 变化。信用评级报告详见上海证券交易所网站(www.sse.com.cn)。 | 证券代码:603131 | 证券简称:上海沪工 | 公告编号:2025-0 ...
上海沪工(603131) - 上海沪工焊接集团股份有限公司公开发行可转换公司债券2025年跟踪评级报告
2025-06-20 10:32
上海沪工焊接集团股份有限公司 公开发行可转换公司债券 2025 年跟踪评级报告 1 联合〔2025〕4613 号 联合资信评估股份有限公司通过对上海沪工焊接集团股份有限 公司主体及其相关债券的信用状况进行跟踪分析和评估,确定维持 上海沪工焊接集团股份有限公司主体长期信用等级为 A,维持"沪 工转债"信用等级为 A,评级展望为稳定。 特此公告 联合资信评估股份有限公司 评级总监: 二〇二五年六月二十日 跟踪评级报告 | 2 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日的 独立意见陈述,未受任何机构或个人影响。评级结论及相关分析为联合资信 基于相关信息和资料对评级对象所发表的前瞻性观点,而非对评级对象的事 实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵循了真 实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响,本报告 在资料信息获取、评级方法与模型、未来事项预测评估等方面存在局限性。 二、本报告系联合资信接受上海沪工焊接集团股份有限公司(以下简称 "该公司")委托所出具,除因本次评级事项联合资信与该公司构成评级委 托关系外,联合资信、评级人员与该公司不存在任何影响评级行 ...
上海沪工焊接集团股份有限公司2024年年度权益分派实施公告
Core Points - The company announced a cash dividend distribution of 0.012 CNY per share for the fiscal year 2024, approved at the shareholders' meeting on May 16, 2025 [2][4][15] - The total cash dividend to be distributed amounts to approximately 3.82 million CNY based on the total share capital of 317,991,057 shares [4][15] - The cash dividends will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the record date [3][4] Distribution Plan - The cash dividends will be distributed through the clearing system of the China Securities Depository and Clearing Corporation, with shareholders who have designated trading able to receive their dividends on the payment date [5] - Certain shareholders, including specific individuals and companies, will receive their cash dividends directly from the company [6] Tax Implications - For individual shareholders and securities investment funds, dividends are subject to different tax treatments based on the holding period, with those holding shares for over one year exempt from individual income tax [9] - Qualified Foreign Institutional Investors (QFIIs) will have a 10% withholding tax applied to their dividends, resulting in a net dividend of 0.0108 CNY per share [10][11] - Other institutional investors will not have taxes withheld by the company, and they will receive the full dividend of 0.012 CNY per share [11] Convertible Bond Adjustment - The company announced an adjustment to the conversion price of its convertible bonds ("沪工转债") due to the cash dividend distribution, with the new conversion price set at 21.09 CNY per share, effective from June 10, 2025 [17][18] - The conversion of the bonds will be suspended from June 3 to June 9, 2025, and will resume on June 10, 2025 [14][17]
上海沪工(603131) - 关于权益分派实施引起的“沪工转债”转股价格调整的公告
2025-06-03 10:17
| 证券代码:603131 | 证券简称:上海沪工 | 公告编号:2025-035 | | --- | --- | --- | | 债券代码:113593 | 债券简称:沪工转债 | | 因实施 2024 年年度权益分派,本公司可转债"沪工转债"自权益分派公告前一个 交易日(2025 年 6 月 3 日)至权益分派股权登记日(2025 年 6 月 9 日)期间停止 转股,2025 年 6 月 10 日起恢复转股。本公司的相关证券停复牌情况如下: | 证券代 | 证券简称 | 停复牌类型 | 停牌起 | 停牌 | 停牌终止 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | 码 | | | 始日 | 期间 | 日 | | | 113593 | 沪工转债 | 可转债转股复牌 | | | 2025/6/9 | 2025/6/10 | 经中国证券监督管理委员会出具的《关于核准上海沪工焊接集团股份有限公 司公开发行可转换公司债券的批复》(证监许可[2020]983 号)核准,上海沪工焊接 集团股份有限公司(以下简称"公司")于 2020 年 7 月 20 日公开发 ...
上海沪工(603131) - 2024年年度权益分派实施公告
2025-06-03 10:15
证券代码:603131 证券简称:上海沪工 公告编号:2025-034 债券代码:113593 债券简称:沪工转债 上海沪工焊接集团股份有限公司2024年年度权益分派 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0.012元 相关日期 1. 发放年度:2024年年度 2. 分派对象: 一、 通过分配方案的股东大会届次和日期 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东。 本次利润分配方案经公司2025 年 5 月 16 日的2024年年度股东大会审议通过。 3. 分配方案: | 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 | 2025/6/9 | - | 2025/6/10 | 2025/6/10 | 二、 分配方案 本次利润分配以方案实施前的公司总股本317 ...
上海沪工: 关于使用闲置募集资金进行现金管理到期赎回的公告
Zheng Quan Zhi Xing· 2025-05-29 11:14
Core Points - The company has approved the use of idle raised funds for cash management, with a maximum daily balance of 200 million RMB [2] - The company redeemed a structured deposit from China Construction Bank, recovering 85 million RMB in principal and earning 267,700 RMB in interest [3] Group 1 - The company held meetings on April 25, 2024, and April 23, 2025, to approve the cash management proposal [2] - The cash management proposal was previously approved at the 2023 annual general meeting [2] - The structured deposit had a term of 107 days [3] Group 2 - The total amount of principal and interest from the structured deposit has been returned to the fundraising account [3] - The interest income from the structured deposit was 26.77 thousand RMB [3]
上海沪工(603131) - 关于使用闲置募集资金进行现金管理到期赎回的公告
2025-05-29 10:01
| 证券代码:603131 | 证券简称:上海沪工 | 公告编号:2025-032 | | --- | --- | --- | | 债券代码:113593 | 债券简称:沪工转债 | | 上海沪工焊接集团股份有限公司 关于使用闲置募集资金进行现金管理到期赎回的 公告 1 特此公告。 上海沪工焊接集团股份有限公司董事会 2025 年 5 月 30 日 2 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、准确性和完整性依法承担法律责任。 上海沪工焊接集团股份有限公司(以下简称"公司") 于2024年4月25日召 开第四届董事会第三十次会议和第四届监事会第十八次会议,会议审议通过了 《关于使用闲置募集资金进行现金管理额度的议案》,同意公司及下属公司使用 单日最高余额不超过2亿元人民币的闲置募集资金进行现金管理。本议案已经公 司2023年年度股东大会审议通过。具体内容详见公司于2024年4月27日披露于上 海证券交易所网站(www.sse.com.cn)的《关于使用闲置募集资金进行现金管理 额度的公告》(公告编号:2024-018)。公司于2025年4月23日召开 ...
上海沪工(603131) - 关于开立募集资金现金管理专用结算账户并使用闲置募集资金进行现金管理的公告
2025-05-29 10:01
| 证券代码:603131 | 证券简称:上海沪工 | 公告编号:2025-033 | | --- | --- | --- | | 债券代码:113593 | 债券简称:沪工转债 | | 上海沪工焊接集团股份有限公司 关于开立募集资金现金管理专用结算账户并使用闲 置募集资金进行现金管理的公告 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、准确性和完整性依法承担法律责任。 重要内容提示: 一、本次开立募集资金现金管理专用结算账户的情况 因募集资金现金管理的需要,公司近日在中信银行股份有限公司上海松江支 行开立了募集资金现金管理专用结算账户。具体信息如下: | 序号 | 开户机构 | 账户名称 | 账号 | | --- | --- | --- | --- | | 1 | 中信银行股份有限公司上海 | 上海沪工焊接集 | 8110201012001916909 | | | 松江支行 | 团股份有限公司 | | 现金管理种类:结构性存款 现金管理金额:募集资金 8,800 万元 已履行的审议程序:2025 年 4 月 23 日,上海沪工焊接集团股份有限公 司(以 ...
上海沪工焊接集团股份有限公司 关于实施2024年度权益分派时“沪工转债”停止转股的提示性公告
Summary of Key Points Core Viewpoint - The company has announced a cash dividend distribution plan for the fiscal year 2024, which has been approved by the board and shareholders, indicating a commitment to returning value to shareholders through dividends. Group 1: Dividend Distribution Plan - The company will distribute a cash dividend of 0.012 yuan per share (including tax) based on the total share capital as of the record date for the dividend distribution [1] - As of December 31, 2024, the total share capital of the company is 317,991,010 shares, resulting in a total cash dividend payout of 3,815,892.12 yuan (including tax) [1] - The cash dividend represents 30.39% of the net profit attributable to ordinary shareholders of the listed company in the consolidated financial statements [1] Group 2: Convertible Bonds and Trading Suspension - The company will suspend the conversion of its convertible bonds ("沪工转债") from June 3, 2025, until the record date for the dividend distribution [2] - The adjustment of the conversion price for the convertible bonds will be made in accordance with the relevant provisions in the bond issuance prospectus [2] - The company will announce the details of the dividend distribution and the adjustment of the convertible bond conversion price on June 4, 2025 [2]