Summary of the Conference Call for Jingjin Equipment Co., Ltd. Company Overview - Jingjin Equipment Co., Ltd. was established in 1988 and is a specialized manufacturer of complete filtration equipment, recognized as a single-item champion in China's manufacturing industry and the world's largest producer of pressure machines [2][3]. Financial Performance - The company has shown steady growth in recent years, with a compound annual growth rate (CAGR) of 23.36% in revenue and 25.12% in net profit over the past three years [3]. - In 2023, Jingjin Equipment achieved a revenue of 6.249 billion yuan, a year-on-year increase of 9.98% [3]. - The net profit attributable to shareholders was 1.008 billion yuan, reflecting a year-on-year growth of 20.89% [3]. - The net profit excluding non-recurring gains and losses was 987 million yuan, up 19.72% year-on-year [3]. - The net cash flow from operating activities decreased by 73.79% to 268 million yuan, primarily due to reduced cash from product sales and increased cash payments for employee salaries [4]. - The gross profit margin increased to 31.75% due to lower prices of key raw materials like polypropylene and steel [4]. - The return on equity (ROE) reached 23.53% in 2023, with earnings per share (EPS) of 1.78 yuan, a year-on-year increase of 19.46% [4]. Innovation and Market Expansion - The company has focused on technological innovation, with a growing number of patents, totaling 874 domestic patents and 29 international patents by the end of 2023 [6]. - The filtration equipment produced is widely used in various sectors, including mineral processing, environmental protection, new energy, new materials, chemicals, and food [6]. - In 2023, the downstream application sectors for the company's filtration equipment included mineral processing (26.62%), environmental protection (25.76%), and new energy (24.63%) [6]. Future Outlook - For the first quarter of 2024, the company reported a revenue of 1.507 billion yuan, a year-on-year increase of 2.66%, and a net profit of 229 million yuan, up 6.70% [7]. - The strategic focus for the future includes: 1. Continuing to specialize in filtration equipment and expanding product categories [8]. 2. Enhancing innovation capabilities and driving development through new technology [8]. 3. Promoting the industrialization of complete equipment projects to increase production capacity [8]. 4. Strengthening sales and service networks to enhance global brand recognition [8]. 5. Improving internal controls and management levels to protect shareholder rights [8]. Profit Distribution - The company proposed a profit distribution plan for 2023, which includes a cash dividend of 1.06 yuan per share, totaling 610 million yuan, representing 60.64% of the net profit attributable to shareholders [9][10]. - Since its listing, Jingjin Equipment has distributed a total of 2.283 billion yuan in cash dividends, demonstrating a commitment to returning value to shareholders [10].

证券代码:603279 证券简称:景津装备 景津装备股份有限公司 2023 年度暨 2024 年第一季度业绩说明会会议记 录 二、本次业绩说明会投资者关心的主要问题及公司答复情况 问题 1、姜董事长：您好！请问今年顶层的设备更新政策，结合锂电池回 收的快速增长，请问今年一季度新签订单情况（尤其是锂电池回收领域），同 比去年有没有明显变化？谢谢。 回复：尊敬的投资者您好，关于订单情况请关注公司的信息披露，感谢您 的关注。 问题 2、张总：您好！在公司公众号看到公司推出了电控柜系列产品，这 款产品是公司现有产品的配套延伸，还是公司的新系列产品。谢谢。 回复：尊敬的投资者您好，该款产品属于成套装备的一部分产品，感谢您 的关注。 问题 3、您好！公司 2024 有何发展规划？如何继续保持良好的发展趋势？ 谢谢。 景津装备股份有限公司(以下简称"公司")于 2024 年 5 月 13 日上午 10:00-11:30 在上海证券交易所上证路演中心召开 2023 年度暨 2024 年第一 季度业绩说明会，关于本次业绩说明会的召开事项，公司已于 2024 年 4 月 25 日在上海证券交易所网站上披露了《景津装备股份有限公司 ...

景津装备股份有限公司 2023 年年度股东大会会议资料 （603279） 二○二四年五月 1 / 79 目录 | 景津装备股份有限公司 | | | 2023 年年度股东大会会议须知 | 3 | | --- | --- | --- | --- | --- | | 景津装备股份有限公司 | | | 2023 年年度股东大会会议议程 | 5 | | 议案 | 1：关于公司 | 2023 | 年度董事会工作报告的议案 | 7 | | 议案 | 2：关于公司 | 2023 | 年度监事会工作报告的议案 | 13 | | 议案 | 3：关于公司 | 2023 | 年度财务决算报告的议案 | 18 | | 议案 | 4：关于公司 | 2023 | 年年度利润分配方案的议案 | 23 | | 议案 | 5：关于公司 | 2023 | 年年度报告全文及其摘要的议案 | 24 | | 议案 | 6：关于公司 | 2023 | 年度董事薪酬的议案 | 25 | | 议案 | 7：关于公司 | 2023 | 年度监事薪酬的议案 | 26 | | 议案 | | | 8：关于修订《公司章程》的议案 | 27 | | 议案 | | | 9 ...

2024 年 05 月 06 日 景津装备(603279.SH) 其他专用机械 升幅% 1M 3M 12M 郭倩倩 分析师 2023-10-31 业绩稳健增长，毛利率持续 域占比进一步提升 2023-04-27 公司快报 景津装备发布 2023 年及 2024 年一季报，2023 年公司实现营收 62.49 亿元，同比+9.98%，实现归母净利润 10.08 亿元，同比+20.89%，实 现扣非归母净利润 9.87 亿元，同比+19.72%。 展望 2024 年，新能源领域由于动力电池资本开支增速下滑或承压， 其他领域需求托底，看好公司全年业绩实现稳健增长。其中：环保有 望保持稳健增长，增长主要来自四五线城市和县城的污水处理厂建设 以及工业污水处理，此外，2024 年 3 月国务院印发《推动大规模设 备更新和消费品以旧换新行动方案》，提出"环保绩效达到 A 级水平的 产能比例大幅提升"，有望加速环保设备（如压滤机）向高端化、成套 化等方向更新换代；矿物加工有望维持较高增长，增量来自矿物的尾 矿循环处理；砂石行业有望转为正增，主要系砂石下游客户矿山竞标 积极性提高。 本报告仅供 Choice 东方财富 使用，请 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative performance increase of over 20% compared to the relevant market index within the next six months [12][21]. Core Insights - The company reported a revenue of 6.25 billion yuan in 2023, representing a year-on-year growth of 10.0%, and a net profit attributable to shareholders of 1.01 billion yuan, up 20.9% year-on-year [1]. - In Q1 2024, the company achieved a revenue of 1.51 billion yuan, a 2.7% increase year-on-year, with a net profit of 230 million yuan, reflecting a 6.7% growth [1]. - The overseas market is expected to provide significant growth potential, with the company focusing on expanding its presence internationally, where the market size is estimated to be 2-3 times larger than the domestic market [2]. - The company is also actively developing its supporting equipment and accessories business, which is anticipated to become a second growth curve for its performance [2]. Financial Performance - The company’s comprehensive gross margin for 2023 was 31.8%, an increase of 1.0 percentage points year-on-year, primarily due to low raw material prices [13]. - The net profit margin for 2023 was 16.1%, up 1.5 percentage points year-on-year, while the Q1 2024 net profit margin was 15.2%, an increase of 0.6 percentage points [13]. - The company’s revenue is projected to grow from 6.25 billion yuan in 2023 to 8.16 billion yuan by 2026, with a compound annual growth rate (CAGR) of 11% for net profit over the same period [14][19]. Market Position - The company holds a domestic market share of over 40% in the filter press segment, but its current overseas market share is low, indicating substantial room for growth [2]. - The company’s product segments, including filter plates and filter cloths, have shown significant growth, with increases of 11.6% and 36.5% respectively in 2023 [13]. Future Projections - The company is expected to maintain stable growth in its filter press business, with gross margins projected to remain around 29.5% from 2024 to 2026 [16]. - The accessory business is anticipated to grow steadily, with revenue projections of 420 million yuan in 2024, increasing to 1.22 billion yuan by 2026 [18]. - The supporting equipment segment is expected to see a revenue increase from 17.64 million yuan in 2024 to 23.48 million yuan by 2026, with a gross margin of 30% [18].

证券代码:603279 证券简称:景津装备 景津装备股份有限公司 投资者关系活动记录 景津装备股份有限公司2024年3月份与投资者在信息披露范围内互动交 流情况:  接听投资者来电6通。 投资者关注的主要问题及回复如下： 1.问题：公司2023年前三季度经营性现金流同比减少较多的原因是什么？ 回答：公司2023年前三季度经营活动产生的现金流量净额同比减少的原 因系客户合同预付款减少及收到票据增加导致经营活动现金流入减少，以及支 付职工薪酬和税费增加导致经营活动现金流出增加。 2.问题：公司近年来营业收入持续增长的原因？公司在行业里的竞争优势 ...

Investment Rating - The investment rating for the company is "Buy" [8][14]. Core Views - The company has shown continuous revenue growth, with a 2023 revenue of 6.249 billion yuan, representing a year-on-year increase of 10%. The net profit attributable to the parent company reached 1.008 billion yuan, up 21% year-on-year. The gross profit margin was 31.75%, an increase of 1.02 percentage points, while the net profit margin was 16.13%, up 1.45 percentage points [8][6]. - The company is a leader in the filter press sector, with new production capacity expected to be released, and its products have a competitive advantage in overseas markets, which is anticipated to drive order growth [8][6]. - The company maintains a long-term high dividend policy, with a total dividend of 611 million yuan in 2023, representing a year-on-year increase of 6% [8][6]. Financial Summary - **Revenue Forecasts**: - 2023A: 6,249 million yuan - 2024E: 6,764 million yuan - 2025E: 7,641 million yuan - 2026E: 8,645 million yuan [3] - **Net Profit Forecasts**: - 2023A: 1,008.09 million yuan - 2024E: 1,091.19 million yuan - 2025E: 1,232.22 million yuan - 2026E: 1,393.67 million yuan [3] - **Earnings Per Share (EPS)**: - 2023A: 1.75 yuan - 2024E: 1.89 yuan - 2025E: 2.14 yuan - 2026E: 2.42 yuan [3] - **Price-to-Earnings (P/E) Ratio**: - 2023A: 13.30 - 2024E: 12.29 - 2025E: 10.88 - 2026E: 9.62 [3] Operational Highlights - The company reported a year-end contract liability of 2.576 billion yuan in 2023, an increase of 19% year-on-year, and 2.598 billion yuan in Q1 2024, up 18% [8][6]. - The company’s operating cash flow for 2023 was 268 million yuan, with a significant improvement in Q4 2023 and Q1 2024 [11][8]. Segment Performance - **By Industry**: - Environmental protection: 1.605 billion yuan (+10%) - Mineral processing: 1.659 billion yuan (+7%) - New energy materials: 1.655 billion yuan (+46%) - Chemical: 611 million yuan (-16%) - Sand and gravel: 392 million yuan (-5%) - Biomedicine: 310 million yuan (-18%) [8][6]. - **By Product**: - Filter press: 4.885 billion yuan (+3%) - Accessories: 927 million yuan (+1%) - Supporting equipment: 420 million yuan [8][6]. Market Data - The closing price of the stock is 23.25 yuan, with a market capitalization of approximately 13.22 billion yuan [7].

环保 | --- | --- | |---------------------------------------------|-------------------------------| | 市场数据： | 2024 年 04 月 25 日 | | 收盘价（元） | 23.37 | | 一年内最高 / 最低（元） | 32.24/16.53 | | | | | 市净率 息率（分红 / 股价） | 3.2 4.54 | | | 13291 | | 流通 A 股市值（百万元） 上证指数 / 深证成指 | 3052.90/9264.48 | | 注："息率"以最近一年已公布分红计算 | | 相关研究 合同负债稳步提升，未来增长有保障。截止 2023 年底，公司合同负债 25.76 亿元，截止 2024Q1，合同负债为 25.98 亿元（2023Q1 为 22.05 亿元），整体稳步提升。 上 市 公 司 ——压滤机稳步增长，配件+配套装备+出海逐步发力 一年内股价与大盘对比走势： 原料价格下降推动配件毛利率提升，公司利润增速高于收入增速。2023 年公司总体毛利 率提升 1 个百分点至 32%，其中配件销售毛 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company has shown significant growth in revenue and net profit, with a 10% year-on-year increase in revenue for 2023, reaching 6.25 billion yuan, and a 20.9% increase in net profit, totaling 1.01 billion yuan [9] - In Q1 2024, the company achieved a revenue of 1.51 billion yuan, up 2.7% year-on-year, and a net profit of 230 million yuan, reflecting a 6.7% increase [3][6] - The growth in revenue is primarily driven by the new energy and environmental protection sectors, with notable increases in core components and supporting equipment [5] Summary by Sections Financial Performance - The company reported a net profit margin of 16.1% for 2023, an increase of 1.5 percentage points year-on-year, attributed to lower raw material costs and reduced management expenses [14] - The gross profit margin for 2023 was 31.8%, up 1.0 percentage points from the previous year [14] - The operating cash flow showed signs of recovery, with Q4 2023 cash flow at 170 million yuan, a significant improvement from the previous quarter [8] Revenue Breakdown - Revenue contributions from various sectors in 2023 included: - New energy materials: 1.66 billion yuan (+46%) - Environmental protection: 1.61 billion yuan (+10%) - Core components: - Filter plates: 490 million yuan (+11.6%) - Filter cloths: 300 million yuan (+36.5%) - Other components: 560 million yuan (+119%) [5] Future Outlook - The company is expected to continue its growth trajectory, with projected revenues of 6.49 billion yuan, 6.94 billion yuan, and 7.53 billion yuan for 2024, 2025, and 2026 respectively [14] - The forecasted net profits for the same years are 1.08 billion yuan, 1.18 billion yuan, and 1.28 billion yuan, indicating a stable growth outlook [14]

Investment Rating - The report maintains a "Buy" rating for the company [5][7]. Core Views - The company has shown continuous revenue growth, achieving a revenue of 6.25 billion yuan in 2023, a year-on-year increase of 10.0%, and a net profit of 1.01 billion yuan, up 20.9% year-on-year [2][5]. - The company's profitability is steadily improving, with a gross margin of 31.7% in 2023, an increase of 1.0 percentage points year-on-year, and a net profit margin of 16.1%, up 1.5 percentage points year-on-year [3][5]. - The company is expanding its product offerings and export markets, which opens up additional growth opportunities [4][5]. Financial Performance Summary - Revenue for 2023 was 62.49 billion yuan, with a projected growth rate of 9.5% for 2024 [6]. - The net profit for 2023 was 1.008 billion yuan, with expected growth rates of 13.7% for 2024 [6]. - The company’s earnings per share (EPS) for 2023 was 1.75 yuan, with projections of 1.99 yuan for 2024 [6]. - The price-to-earnings (P/E) ratio is projected to decrease from 13.4 in 2023 to 11.8 in 2024 [6]. Business Segments - The company’s revenue from the new energy and new materials segment reached 1.54 billion yuan in 2023, a year-on-year increase of 35.3% [4]. - Revenue from the environmental protection segment was 1.61 billion yuan, up 10.0% year-on-year, driven by stricter environmental policies [4]. - The mineral and processing segment generated 1.66 billion yuan, a 7.0% increase year-on-year, benefiting from increased demand in the coal and strategic mineral industries [4]. - The company’s revenue from supporting equipment and exports was 420 million yuan, with a gross margin of 28.7% [4].