Investment Rating - The report maintains a "Recommended" rating for the company [2][4]. Core Insights - The company achieved a revenue of 2.588 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 2.66%. The net profit attributable to shareholders was 143 million yuan, up 9.27% year-on-year. The net profit after deducting non-recurring gains and losses was 107 million yuan, showing a significant increase of 31.72% year-on-year [1]. - The gross margin improved to 29.51%, an increase of 0.5 percentage points year-on-year, while the net profit margin rose to 5.63%, up 0.06 percentage points. The operating expense ratio decreased to 21.96%, down 0.81 percentage points [1]. - The company has initiated a share buyback program, demonstrating confidence in its future prospects. As of September 30, 2024, the company repurchased 5,802,710 shares, accounting for 1.42% of its total share capital, with a total expenditure of approximately 94.97 million yuan [1]. - The potential market for old house safety inspections is significant, estimated to be between 90.244 billion yuan and 154.704 billion yuan over the next 20 years, based on an average charge of 7-12 yuan per square meter [1]. Financial Forecast - The company is projected to achieve net profits of 347 million yuan, 387 million yuan, and 434 million yuan for the years 2024, 2025, and 2026, respectively, with year-on-year growth rates of 10.03%, 11.33%, and 12.25% [2][3]. - The expected revenue for 2024 is 4.482 billion yuan, with a growth rate of 11.78%, and the gross margin is forecasted to be 32.44% [3].

Financial Performance - The company's operating revenue for Q3 2024 was ¥938,091,623.17, representing a year-on-year increase of 0.11%[2] - The net profit attributable to shareholders for Q3 2024 was ¥65,763,546.73, reflecting a year-on-year increase of 1.85%[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the year-to-date was ¥106,622,090.79, showing a significant increase of 31.72%[6] - Total operating revenue for the first three quarters of 2024 reached RMB 2,587,878,080.76, a slight increase of 2.66% compared to RMB 2,520,794,707.58 in the same period of 2023[13] - Net profit attributable to shareholders of the parent company for the first three quarters of 2024 was RMB 142,837,506.27, an increase of 9.06% from RMB 130,722,754.73 in the same period of 2023[15] - The company reported a total profit of RMB 163,752,538.61 for the first three quarters of 2024, compared to RMB 152,305,911.08 in 2023, reflecting a growth of 7.57%[15] Assets and Liabilities - The total assets as of the end of Q3 2024 were ¥4,516,301,016.81, a decrease of 9.91% compared to the end of the previous year[4] - The equity attributable to shareholders at the end of Q3 2024 was ¥3,381,463,744.70, down 2.23% from the previous year[4] - The company's total liabilities decreased to ¥952,509,215.95 from ¥1,326,614,753.61, a reduction of approximately 28.3%[12] - The equity attributable to shareholders decreased to ¥3,381,463,744.70 from ¥3,458,742,317.57, representing a decline of about 2.2%[12] Cash Flow - The company reported a net cash flow from operating activities of -¥312,004,874.32 year-to-date, indicating a negative cash flow situation[4] - The net cash flow from operating activities was -312,004,874.32 CNY, an improvement from -327,316,976.99 CNY in the previous year[18] - The total cash inflow from investment activities was 4,269,681,875.97 CNY, significantly higher than 2,014,940,519.33 CNY in the same period last year[18] - The net cash flow from investment activities was -516,999,565.62 CNY, an improvement from -888,941,933.96 CNY year-over-year[18] - The total cash outflow from financing activities was 283,143,121.62 CNY, compared to 128,547,587.68 CNY in the previous year[19] - The net cash flow from financing activities was -281,143,121.62 CNY, a decline from a positive 491,685,412.32 CNY in the same quarter last year[19] Shareholder Information - As of September 30, 2024, the company had repurchased 5,802,710 shares, accounting for 1.42% of the total share capital[8] - Basic and diluted earnings per share for the first three quarters of 2024 were both RMB 0.35, compared to RMB 0.33 in the same period of 2023[16] Expenses and Investments - Research and development expenses for the first three quarters of 2024 amounted to RMB 161,291,663.45, up from RMB 151,396,289.31 in the same period of 2023[13] - The company paid 1,956,939,678.23 CNY to employees, an increase from 1,852,162,800.42 CNY in the previous year[18] - The company paid taxes amounting to 195,295,961.48 CNY, compared to 184,751,073.12 CNY in the same period last year[18] Cash Management - The company's cash flow management remains a focus area, given the significant decrease in cash and cash equivalents[10] - Cash and cash equivalents decreased to ¥1,442,532,338.76 from ¥2,154,470,838.47, reflecting a decline of approximately 33.0%[10] - The cash and cash equivalents at the end of the period amounted to 1,012,062,925.55 CNY, up from 705,239,114.43 CNY year-over-year[19]

证券代码：603153 证券简称：上海建科 公告编号：2024-040 因实施 2023 年年度权益分派，上述回购股份价格上限由不超过人民币 23 元/ 上海建科集团股份有限公司 关于股份回购进展公告 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法律责任。 重要内容提示： | 回购方案首次披露日 | 2024/4/26 | | --- | --- | | 回购方案实施期限 | 董事会审议通过后 12 个月 | | 预计回购金额 | 万元 7,000 万元~12,000 | | 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 | | 累计已回购股数 | 5,802,710 股 | | 累计已回购股数占总股本比 | 1.42% | | 例 | | | 累计已回购金额 | 94,965,451.50 元 | | 实际回购价格区间 | 15.39 元/股~17.50 元/股 | 一、 回购股份的基本情况 上海建科集团股份有限公司（以下简称"公司"）于 2024 年 4 ...

Investment Rating - The report recommends a "Buy" rating for the company, with a projected net profit of 3.47 billion, 3.87 billion, and 4.34 billion for 2024-2026, reflecting growth rates of +10.03%, +11.33%, and +12.25% respectively, corresponding to P/E ratios of 18.62, 16.72, and 14.90 [2][4]. Core Insights - The company is a leading engineering consulting and testing firm in East China, with a diversified revenue structure: engineering consulting (54.54%), inspection and testing (29.92%), and environmental low-carbon technology services (11.02%) [1][12]. - The engineering consulting industry is highly competitive and fragmented, with the leading firms holding only a 1.4% market share, indicating significant room for growth [1][25]. - The low-altitude economy and old housing inspections present substantial growth opportunities, with the potential market for old housing inspections estimated between 902.44 billion and 1547.04 billion [1][2]. Summary by Sections Company Overview - The company, established in 1958, has evolved into a comprehensive engineering research unit and was listed on the Shanghai Stock Exchange in 2023. It is controlled by the Shanghai State-owned Assets Supervision and Administration Commission, which holds 51.26% of the shares [1][11][14]. Financial Performance - In 2023, the company achieved a revenue of 40.09 billion, a year-on-year increase of 12.7%, and a net profit of 3.16 billion, up 14.57%. For the first half of 2024, revenue was 16.5 billion, growing 4.17%, with a net profit of 0.77 billion, increasing 16.51% [1][14][15]. Industry Analysis - The engineering consulting industry is characterized by a high number of firms (29,352) and low concentration, with the top firms capturing only a small market share. The inspection and testing sector is seeing a trend towards increased concentration, with larger firms gaining a more significant share of the market [25][30]. - The report highlights the potential for growth in the low-altitude economy, driven by government policies aimed at developing this sector, and the increasing demand for old housing inspections as part of urbanization efforts [1][2][25]. Future Outlook - The company is expected to benefit from rising urbanization rates and the expansion of the low-altitude economy, with projected revenue growth rates of 11.78%, 11.66%, and 11.40% for 2024-2026 [2][4].

证券代码：603153 证券简称：上海建科 公告编号：2024-039 上海建科集团股份有限公司 关于 2024 年半年度业绩说明会召开情况的公告 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 和完整性承担法律责任。 上海建科集团股份有限公司（以下简称"公司"）于 2024 年 9 月 12 日（星期四）下午 14:30-15:30 在价值在线网络平台召开了 2024 年半年度业绩说明会，现将活动情况公告如下： 一、业绩说明会召开情况 时间：2024 年 9 月 12 日（星期四）下午 14:30-15:30 地点：价值在线（网址：www.ir-online.cn） 方式：网络互动 参加人员：董事、总裁朱雷先生，副总裁、财务总监沈新根先 生，独立董事朱洪超先生，董事会秘书常旺玲女士。 二、投资者提出的主要问题及公司回复情况 1.公司2024年半年度报告显示，上半年营业收入、归母净利润、 毛利率等较去年同期都有所增长，特别是扣非归母净利润同比增长 62.58%，实现上述增长的主要驱动因素是什么？ 答:公司2024年上半年营业收入、归母净利润、扣非归 ...

会议召开方式：网络互动方式 证券代码：603153 证券简称：上海建科 公告编号：2024-038 上海建科集团股份有限公司 关于召开 2024 年半年度业绩说明会的公告 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 和完整性承担法律责任。 重要内容提示： 会议问题征集：投资者可于 2024 年 9 月 12 日前访问网址： （https://eseb.cn/1hnUfE0gVR6）或使用微信扫描下方小程序码进行会前 提问，公司将通过本次业绩说明会，在信息披露允许范围内就投资 者普遍关注的问题进行回答。 上海建科集团股份有限公司（以下简称"公司"）已于 2024 年 8 月 15 日发布公司《2024 年半年度报告》及《2024 年半年度报告 摘要》，为便于广大投资者更全面深入地了解公司 2024 年半年度报 会议召开时间：2024 年 9 月 12 日（星期四）下午 14:30-15:30 会议召开地点：价值在线（网址：www.ir-online.cn） 告经营成果、财务状况，公司计划于 2024 年 9 月 12 日（星期四） 下午 14:3 ...

重要内容提示： | 回购方案首次披露日 | 2024/4/26 | | --- | --- | | 回购方案实施期限 | 董事会审议通过后 12 个月 | | 预计回购金额 | 万元~12,000 万元 7,000 | | 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 | | 累计已回购股数 | 5,709,010 股 | | 累计已回购股数占总股本比 | 1.39% | | 例 | | | 累计已回购金额 | 93,469,433.50 元 | | 实际回购价格区间 | 15.39 元/股~17.50 元/股 | 一、 回购股份的基本情况 上海建科集团股份有限公司（以下简称"公司"）于 2024 年 4 月 24 日召开第一 届董事会第二十次会议，审议通过了《关于以集中竞价交易方式回购股份的议案》。 本次回购的资金总额不低于人民币 7,000.00 万元、不超过人民币 12,000.00 万元， 回购股份价格为不超过人民币 23 元/股，回购股份期限为自董事会审议通过本次回 购股份方案之日起 12 个月内，用于实施员工持股计划或股权 ...

(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。 本次股东大会由公司董事会召集，董事长主持。会议采用现场投票和网络投 票相结合的表决方式进行表决。会议的召开和表决程序符合《公司法》和《公司 证券代码：603153 证券简称：上海建科 公告编号：2024-036 上海建科集团股份有限公司 2024 年第一次临时股东大会决议公告 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 | 1、出席会议的股东和代理人人数 | 212 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 346,647,446 | | 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 | 85.7613 | | 份总数的比例（%） | | (一) 股东大会召开的时间：2024 年 8 月 30 日 (二) 股东大会召开的地点：上海市徐汇区宛平南路 75 号 4 号楼 412 多功能报 告厅 (三) 出席会议的普通股股东和恢复表决 ...

国浩律师（上海）事务所 国浩律师（上海）事务所 股东大会法律意见书 中国 上海 北京西路 968 号嘉地中心 27 层 邮编：200041 电话: (8621) 5234-1668 传真: (8621) 5243-3320 网址：http://www.grandall.com.cn 国浩律师（上海）事务所 股东大会法律意见书 国浩律师（上海）事务所 关于上海建科集团股份有限公司 关于 上海建科集团股份有限公司 2024 年第一次临时股东大会的 法律意见书 公司召开 2024 年第一次临时股东大会，董事会已于会议召开十五日前即 2024 年 8 月 15 日以公告方式通知各股东。公司发布的通知载明了会议类型和届 次、会议召集人、投票方式、现场会议召开的日期、时间和地点、网络投票的系 统、起止日期和投票时间、融资融券、转融通、约定购回业务账户和沪股通投资 1 本所律师是根据对事实的了解和对法律的理解发表法律意见。 国浩律师（上海）事务所 股东大会法律意见书 本所律师同意将本法律意见书作为公司 2024 年第一次临时股东大会的必备 法律文件予以存档，并依法对本所出具的法律意见承担责任。 2024 年第一次临时股东大 ...

关于上海建科集团股份有限公司股票交易异常波动 的询证函的回函 致:上海建科集团股份有限公司 t and t 8 贵公司于 2024年8月27日发来的《关于上海建科集团股份 有限公司股票交易异常波动的询证函》已收悉,我们作为上海建 科集团股份有限公司的控股股东,现就相关事项回复如下: 一、经本公司自查,截至目前,我们不存在涉及贵公司的应 披露而未披露的重大信息,包括但不限于重大资产重组、股份发 行、重大交易类事项、业务重组、股份回购、股权激励、破产重 整、重大业务合作、引进战略投资者等重大事项。 二、在本次股票交易异常波动期间,我们不存在买卖贵公司 股票的情形。 特此函复。 (本页以下无正文) (本页无正文,为《关于上海建科集团股份有限公司股票交易异 常波动的询证函的回函》之签署页) 控股股东:上海国盛（集团）有限公司（盖章) 20 年8月 8 t and the subject of ...