Meta 入局人形机器人，工程机械需求持续复苏 [Table_Industry] 机械行业 | | | ——机械行业周报 | [Table_Invest] 评级： | | 增持 | | --- | --- | --- | | | 上次评级: | 增持 | | [table_Authors] 肖群稀(分析师) | 徐乔威(分析师) | 刘麒硕(研究助理) | | | --- | --- | --- | --- | | 0755-23976830 | 021-38676779 | 0755-23976666 | | | xiaoqunxi027589@gtjas.com | xuqiaowei023970@gtjas.com | liuqishuo028693@gtjas.com | [Table_Report] 相关报告 | | 登记编号S0880522120001 | S0880521020003 | S0880123070153 | 机械行业《新时达发布定增预案，海尔集团或入 | 本报告导读： 上周（2025/2/10-2025/2/14）机械设备指数涨跌幅为+0.23%。关注人形机器人等 领域科技创新，工 ...

重要内容提示： | 回购方案首次披露日 | 2024/10/29 | | --- | --- | | 回购方案实施期限 | 待股东大会审议通过后 12 个月 | | 预计回购金额 | 万元~10,000 万元 5,000 | | 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 | 股 1,807,700 | | 累计已回购股数占总股本比例 | 0.3742% | | 累计已回购金额 | 52,169,958 元 | | 实际回购价格区间 | 28.40 元/股~30.35 元/股 | 一、 回购股份的基本情况 证券代码：603337 证券简称：杰克股份 公告编号：2025-005 杰克科技股份有限公司 关于以集中竞价交易方式回购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法律责任。 杰克科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日、2024 年 11 月 13 日召开第六届董事会第十八次会议 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 40.80 RMB [7][8]. Core Views - The company is expected to achieve a net profit attributable to shareholders of 760 to 860 million RMB in 2024, representing a year-on-year increase of 41% to 60%, with a median estimate of 810 million RMB, which aligns with expectations [1]. - The company is capitalizing on the slow recovery in the industry and is focusing on product upgrades through its "Double King" marketing strategy, leading to rapid growth in performance [1]. - The report anticipates that the company's overseas business will gain momentum in 2025, alongside continuous product upgrades [1]. Summary by Sections Performance Forecast - The company is projected to have revenues of 6.617 billion RMB in 2024, with a growth rate of approximately 25% compared to the previous year [6]. - The net profit attributable to shareholders is expected to be 803.88 million RMB in 2024, reflecting a growth of 49.3% [6]. - The earnings per share (EPS) is forecasted to be 1.66 RMB in 2024, increasing to 2.40 RMB in 2025 [6]. Market Outlook - The domestic market for sewing machines is expected to see total sales of approximately 7.2 million units in 2024, slightly below the average of the past six years [4]. - The report highlights a moderate recovery in overseas garment manufacturing, with Vietnam's textile exports increasing by 19% year-on-year in Q4 2024 [2]. - The company successfully held a dealer conference in Sri Lanka, emphasizing its strategy to build a "product army and marketing army" to boost sales in India, targeting 100 million USD in sales by 2025 [4]. Valuation Metrics - The report maintains previous profit forecasts, estimating net profits of 8.0 billion, 11.6 billion, and 12.8 billion RMB for 2024, 2025, and 2026, respectively [5]. - The company is valued at a price-to-earnings (PE) ratio of 17 times for 2025, with a target price adjustment from 43.2 RMB to 40.8 RMB [5]. - The report indicates that the company's PE ratio is expected to decrease from 18.26 in 2024 to 12.67 in 2025, reflecting improved profitability [6].

Investment Rating - The report maintains a "Buy" rating for the company, considering its industry leadership, improving industry conditions, and promising overseas growth prospects [4]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of between 760 million to 860 million RMB in 2024, representing a year-on-year growth of 41.15% to 59.72% [1]. - The company has significantly reduced its SKU count from over 10,000 to around 1,000, with plans to further reduce it to between 300 and 500, which is expected to enhance product quality and profitability [2]. - The company is well-positioned for continued growth in overseas markets, with a notable increase in exports, which reached 15.992 billion RMB in 2023, up 15.8% year-on-year [3]. Summary by Sections Performance Review - The company forecasts a net profit of 1.41 to 2.41 billion RMB for Q4 2024, with a year-on-year growth of 11.9% to 91.27% [1]. Operational Analysis - The company is benefiting from a cyclical recovery in the industrial sewing machine industry, with both domestic and international markets entering an upward cycle [2]. - The introduction of new products, particularly the "Double King" series, is driving product structure upgrades and contributing to high performance growth [2]. Profit Forecast and Valuation - The adjusted profit forecast for 2024 to 2026 is 813 million, 998 million, and 1.219 billion RMB, respectively, with corresponding P/E ratios of 18X, 15X, and 12X [4].

Financial Performance Forecast - The company expects a net profit attributable to shareholders for 2024 to be between 760 million and 860 million CNY, an increase of 221.57 million to 321.57 million CNY compared to the previous year, representing a year-on-year growth of 41.15% to 59.72%[3] - The projected net profit attributable to shareholders after deducting non-recurring gains and losses for 2024 is expected to be between 690 million and 790 million CNY, an increase of 221.25 million to 321.25 million CNY compared to the previous year, reflecting a year-on-year increase of 47.20% to 68.54%[3] - In 2023, the total profit achieved was 581.33 million CNY, with a net profit attributable to shareholders of 538.43 million CNY, and a net profit of 468.75 million CNY after deducting non-recurring gains and losses[6] Strategic Focus - The company aims to leverage the recovery of downstream demand and cyclical development opportunities in 2024, focusing on product upgrades and value marketing strategies to drive performance growth[7] Non-Operating Gains - Non-operating gains and losses for the reporting period are estimated to be around 70 million CNY, primarily from government subsidies and large certificate of deposit earnings[7] Earnings Forecast Validity - The earnings forecast has not been audited by a registered accountant, and the final financial data will be disclosed in the official 2024 annual report[4][9] - The company does not currently face any significant uncertainties that could affect the accuracy of this earnings forecast[8]

Core Viewpoint - The company expects a net profit attributable to shareholders of 760 million to 860 million yuan for the year 2024, representing a year-on-year increase of 41.15% to 59.72% [1] Group 1: Financial Performance - The projected net profit for 2024 is between 760 million and 860 million yuan [1] - This represents a significant increase compared to the previous year, with a growth rate between 41.15% and 59.72% [1] Group 2: Strategic Focus - The company aims to capitalize on the slow recovery of the global economy and the rebound in downstream demand [1] - The strategy includes focusing on creating blockbuster products and implementing value marketing [1] - The company plans to tackle four major challenges and promote product structure upgrades through continuous promotion of its dual-brand strategy [1]

重要内容提示： 杰克科技股份有限公司董事、副总裁吴利女士于 2025 年 1 月 13 日以自 有资金通过上海证券交易所证券交易系统以集中竞价交易方式增持公司股份 34,000 股，占公司总股本的 0.0070%。 一、增持情况概述 杰克科技股份有限公司（以下简称"公司"）于近日接到公司董事、副总裁 吴利女士通知，其于 2025 年 1 月 13 日以自有资金通过上海证券交易所证券交易 系统以集中竞价交易方式增持公司股份 34,000 股，占公司总股本的 0.0070%。 具体情况如下： | 增持 | | 增持数 | 增持均价 | 增持前 | | 增持后 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 主体 | 职务 | 量（股） | （元/股） | 持股数量 | 占总股 | 持股数量 | 占总股 | | | | | | （股） | 本比例 | （股） | 本比例 | | 吴利 | 董事、副总裁 | 34,000 | 28.8700 | 350,895 | 0.0726% | 384,895 | 0.0796% | 证券代码：603337 证券简 ...

证券代码：603337 证券简称：杰克股份 公告编号：2024-085 杰克科技股份有限公司 关于以集中竞价交易方式首次回购股份的公告 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： | 回购方案首次披露日 | 2024/10/29 | | --- | --- | | 回购方案实施期限 | 待股东大会审议通过后 12 个月 | | 预计回购金额 | 万元~10,000 万元 5,000 | | 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 | 股 111,300 | | 累计已回购股数占总股本比 | 0.0230% | | 例 | | | 累计已回购金额 | 3,232,284 元 | | 实际回购价格区间 | 28.92 元/股~29.22 元/股 | 杰克科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日、2024 年 11 月 13 日召开第六届董事会第十八次会议、2024 年第二次临 ...

杰克科技股份有限公司 关于以集中竞价交易方式回购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法律责任。 重要内容提示： | 回购方案首次披露日 | 2024/10/29 | | --- | --- | | 回购方案实施期限 | 待股东大会审议通过后 12 个月 | | 预计回购金额 | 万元 5,000 万元~10,000 | | 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 | 0 股 | | 累计已回购股数占总股本比 | 0% | | 例 | | | 累计已回购金额 | 0 元 | | 实际回购价格区间 | 0 元/股~0 元/股 | 一、 回购股份的基本情况 证券代码：603337 证券简称：杰克股份 公告编号：2024-084 杰克科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日、2024 年 11 月 13 日召开第六届董事会第十八次会议、2024 年第二次临时股东大会，审议通过 了 ...

第一个解除限售期解除限售暨股份上市的公告 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： 证券代码：603337 证券简称：杰克股份 公告编号：2024-083 杰克科技股份有限公司 关于 2023 年限制性股票激励计划首次授予部分 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 3,274,400 股。 杰克科技股份有限公司（以下简称"公司"）于 2024 年 11 月 20 日召开第六 届董事会第十九次会议、第六届监事会第十三次会议，审议通过了《关于公司 2023 年限制性股票激励计划首次授予部分第一个解除限售期解除限售条件成就的议 案》，根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）以及《2023 年限制性股票激励计划》（以下简称"《激励计划》"、"本激励计划"）的相关 规定，公司 2023 年限制性股票激励计划首次授予部分第一个解除限售期解除限售 条件已经成就，本次符合解除限售条件的激励对象人数为 262 人，本次可解除限 售的限制性股票数量为 3,274,400 股， ...