Investment Rating - The report maintains a "Recommend" rating for the company [1][3] Core Views - The company's revenue for the first three quarters of 2024 reached 4.7 billion yuan, a year-on-year increase of 23.1%, with a gross margin of 15.0%, up 0.3 percentage points year-on-year [1] - Net profit attributable to the parent company was 100 million yuan, a year-on-year increase of 95.5% [1] - In Q3 2024, the company achieved revenue of 1.63 billion yuan, a year-on-year increase of 29.2%, but net profit attributable to the parent company was 20 million yuan, a year-on-year decrease of 58.3% [1] - The company's revenue growth in Q3 2024 was driven by the volume increase of body structural parts and integrated large castings, as well as the growth in sales of core customers [1] - The company has secured 14 large integrated structural parts projects from multiple automotive customers, further solidifying its leading position in the industry [1] - The company is a core supplier to Huawei's Seres, supplying aluminum alloy die-casting parts for the AITO M5/M7/M9 models, with significant order volumes expected to drive performance improvement [1] Financial Performance Summary - The company's revenue for 2024 is projected to be 6.41 billion yuan, with net profit attributable to the parent company expected to reach 195 million yuan [1][2] - Revenue growth rates for 2024-2026 are forecasted at 25.7%, 28.2%, and 21.8%, respectively [2] - Net profit growth rates for 2024-2026 are projected at 286.7%, 109.0%, and 48.8%, respectively [2] - EPS for 2024-2026 is expected to be 0.63 yuan, 1.32 yuan, and 1.97 yuan, respectively [1][2] - The company's PE ratio for 2024 is 38x, with PB ratios of 1.7x, 1.6x, and 1.4x for 2024-2026 [1][2] Operational Highlights - The company's gross margin for 2024 is expected to be 15.24%, with net profit margin projected at 3.04% [2] - ROE for 2024-2026 is forecasted at 4.52%, 8.72%, and 11.62%, respectively [2] - The company's asset-liability ratio is expected to decrease from 58.33% in 2023 to 52.98% in 2024 [2] - Operating cash flow for 2024 is projected to be 772 million yuan, with capital expenditures expected to be 757 million yuan [2] Industry and Market Position - The company is a pioneer in integrated die-casting and has been actively collaborating with leading new energy vehicle manufacturers [1] - The company's acquisition of Bailian Group is accelerating its globalization efforts, with core customer projects expected to enter mass production starting in 2024 [1] - The company's leading position in the integrated die-casting industry is expected to be further strengthened by its technological capabilities and product quality [1]

文灿集团股份有限公司（以下简称"公司"）第四届监事会第八次会议于 2024 年 10 月 28 日在公司会议室以现场结合通讯表决方式召开。本次监事会会议为临 时会议，会议通知已提前 5 日以书面、通讯等方式发送各位监事。会议由监事会 主席赵海东先生召集和主持，应参加表决监事 3 名，实际参加表决监事 3 名。会 议的召集、召开符合《中华人民共和国公司法》《中华人民共和国证券法》及《公 司章程》等有关规定，会议审议通过了如下议案： | 证券代码：603348 | 证券简称：文灿股份 | 公告编号：2024-063 | | --- | --- | --- | | 转债代码：113537 | 转债简称：文灿转债 | | 文灿集团股份有限公司 第四届监事会第八次会议决议公告 本公司监事会及全体监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。 特此公告。 1 / 2 文灿集团股份有限公司 监事会 2024 年 10 月 28 日 2 / 2 一、审议通过《关于文灿集团股份有限公司 2024 年第三季度报告的议案》 监事会认为：2024 年第三季度报告的编制 ...

| 证券代码：603348 | 证券简称：文灿股份 | 公告编号：2024-061 | | --- | --- | --- | | 转债代码：113537 | 转债简称：文灿转债 | | 文灿集团股份有限公司 关于注销部分募集资金账户的公告 | 公司名称 | 开户银行 | 银行账号 | 存续状态 | | --- | --- | --- | --- | | 公司 | 中国农业银行股份有限公 | 44519501040072051 | 注销 | | | 司南海里水支行 | | | 上述募集资金账户注销以后，与其对应的《募集资金专户存储三方监管协议》 相应终止。 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。 一、募集资金的基本情况 经中国证券监督管理委员会《关于同意文灿集团股份有限公司向特定对象发 行股票注册的批复》（证监许可〔2023〕1599 号）注册，并经上海证券交易所同 意，公司向特定对象发行人民币普通股（A 股）44,214,519 股，发行价格为每股 人民币 23.68 元，募集资金总额为人民币 1,046,999,8 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥1,626,330,869.67, representing a year-on-year increase of 29.22%[2] - The net profit attributable to shareholders for Q3 2024 was ¥15,357,292.93, a decrease of 57.09% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was ¥7,099,679.62, down 76.17% year-on-year[2] - The basic earnings per share for Q3 2024 was ¥0.04, a decrease of 71.43% compared to the same period last year[3] - The diluted earnings per share for Q3 2024 was ¥0.05, down 61.54% year-on-year[3] - Total operating revenue for the first three quarters of 2024 reached ¥4,701,893,845.43, a 23.1% increase from ¥3,820,163,020.20 in the same period of 2023[13] - Net profit for the first three quarters of 2024 was ¥97,177,780.80, up from ¥49,699,985.43 in 2023, representing a growth of 95.7%[14] - The total comprehensive income for Q3 2024 was CNY -40,319,550.81, a significant decrease from CNY 138,318,129.55 in Q3 2023[15] Assets and Liabilities - The total assets at the end of Q3 2024 were ¥8,823,173,721.22, an increase of 14.06% from the end of the previous year[3] - Total assets increased to ¥8,823,173,721.22 in Q3 2024, compared to ¥7,735,789,937.56 in Q3 2023, marking a 14.1% growth[12] - Total liabilities rose to ¥4,653,117,582.79 in Q3 2024, compared to ¥4,511,913,675.25 in Q3 2023, reflecting a 3.1% increase[12] - The equity attributable to shareholders at the end of Q3 2024 was ¥4,170,056,138.43, up 29.35% from the end of the previous year[3] - The company's equity attributable to shareholders reached ¥4,170,056,138.43 in Q3 2024, up from ¥3,223,876,262.31 in Q3 2023, a growth of 29.3%[12] Cash Flow - The cash flow from operating activities for the year-to-date was ¥195,642,372.24, a decrease of 54.46% compared to the same period last year[2] - Cash flow from operating activities for the first three quarters of 2024 was CNY 195,642,372.24, down from CNY 429,568,390.19 in the same period of 2023[16] - Cash inflow from financing activities in Q3 2024 was CNY 1,882,782,951.11, compared to CNY 1,246,026,425.00 in Q3 2023, indicating a substantial increase[18] - The net cash flow from investing activities for the first three quarters of 2024 was CNY -516,895,511.58, an improvement from CNY -704,419,249.23 in the same period of 2023[18] - The company reported cash and cash equivalents at the end of Q3 2024 amounting to CNY 861,932,691.53, up from CNY 345,957,234.25 at the end of Q3 2023[18] Shareholder Information - The top four shareholders, including Tang Jiexiong, Tang Jiebang, and Tang Jiecao, each hold 30,000,000 shares, representing 9.73% of the total shares[9] - The company has a total of 27,416 common shareholders as of the reporting period[8] - The largest institutional shareholder, China Bank Co., holds 14,597,798 shares, accounting for 4.74% of the total shares[8] - The company has not reported any changes in the participation of major shareholders in margin financing or securities lending activities[9] Operational Insights - The company attributed the increase in operating revenue to the rise in sales of components for domestic new energy vehicles[6] - The company faced significant unrealized exchange losses due to borrowings in foreign currencies related to the new factory in Mexico, impacting net profit[6] - Research and development expenses for the first three quarters of 2024 were ¥106,583,651.29, slightly down from ¥112,451,911.83 in 2023[14] - The company reported a financial expense of ¥112,158,319.86 for the first three quarters of 2024, compared to ¥59,423,819.82 in 2023, indicating an increase in financial costs[14] Inventory and Receivables - Accounts receivable increased to RMB 1,365,273,265.00 from RMB 1,080,800,562.04, reflecting a growth of about 26.4%[10] - Total current assets amounted to RMB 3,453,346,653.13, up from RMB 2,559,529,301.77, indicating an increase of approximately 35%[10] - Inventory levels rose to RMB 760,138,970.11 from RMB 680,844,013.36, marking an increase of around 11.7%[10] - The company reported a significant increase in other receivables, which rose to RMB 15,072,015.83 from RMB 7,241,381.52, an increase of approximately 108.3%[10] Earnings Comparison - Basic earnings per share for Q3 2024 were CNY 0.35, compared to CNY 0.19 in Q3 2023, reflecting a growth of 84.2%[15]

| 证券代码：603348 | 证券简称：文灿股份 | 公告编号：2024-062 | | --- | --- | --- | | 转债代码：113537 | 转债简称：文灿转债 | | 文灿集团股份有限公司 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。 特此公告。 文灿集团股份有限公司（以下简称"公司"）第四届董事会第九次会议于 2024 年 10 月 28 日在公司会议室以现场结合通讯表决方式召开。本次董事会会议为临 时会议，会议通知已提前 5 日以书面、通讯等方式发送各位董事。会议召集人为 公司董事长唐杰雄先生，应参加表决董事 7 名，实际参加表决董事 7 名。会议的 召集、召开符合《中华人民共和国公司法》《中华人民共和国证券法》及《公司 章程》等有关规定，会议审议通过了如下议案： 文灿集团股份有限公司董事会 2024 年 10 月 28 日 一、审议通过《关于文灿集团股份有限公司 2024 年第三季度报告的议案》 具体内容详见同日在上海证券交易所网站（www.sse.com.cn）披露的《文灿 集团股份有限公司 2024 年第三季度报告》。 表决结果：7 票同意，0 票反对，0 票 ...

| 证券代码：603348 | 证券简称：文灿股份 | 公告编号：2024-060 | | --- | --- | --- | | 转债代码：113537 | 转债简称：文灿转债 | | 文灿集团股份有限公司 关于墨西哥子公司诉讼进展的公告 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。 文灿集团股份有限公司（以下简称"公司"）近日收到法国百炼集团下属墨 西哥公司LBQ Foundry, S.A. de C.V.(以下简称"LBQ")及其代理律师通知，其 与墨西哥税务机关的增值税重复缴纳争议之诉讼取得新进展，现将有关情况公告 如下： 一、诉讼基本情况 LBQ主要从事重力铸造产品生产及销售业务，在2015年至2019年期间，在向 墨西哥境内无常设机构的多家境外供应商采购铝材时，因其所购铝材均交付至保 税仓库，在其从保税仓库提取使用时与墨西哥税务部门产生增值税重复缴纳争议 并诉至当地法院。前期公告情况具体如下： （ 1 ） 行 政 行 为 ： 墨西哥 税 务 局 于 2019 年 11 月 26 日 公 函 （ 编 号 ： 110 ...

重要内容提示： 一、可转债发行上市概况 （一）可转债发行情况 | 证券代码：603348 | 证券简称：文灿股份 | 公告编号：2024-058 | | --- | --- | --- | | 转债代码：113537 | 转债简称：文灿转债 | | 文灿集团股份有限公司 可转债转股结果暨股份变动的公告 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法律责任。 经中国证券监督管理委员会《关于核准广东文灿压铸股份有限公司公开发行 可转换公司债券的批复》（证监许可[2019]865 号）核准，文灿集团股份有限公司 （原名"广东文灿压铸股份有限公司"，以下简称"公司"）于 2019 年 6 月 10 日公开发行了 800 万张可转换公司债券，每张面值 100 元，发行总额 80,000 万 元。 （二）可转债上市情况 经上海证券交易所自律监管决定书[2019]122 号文同意，公司发行的 80,000 万元可转换公司债券于 2019 年 7 月 5 日起在上海证券交易所挂牌交易，债券简 1 / 3 转股情况：截至2024年9月30日，累计共有6 ...

| 证券代码：603348 | 证券简称：文灿股份 | 公告编号：2024-059 | | --- | --- | --- | | 转债代码：113537 | 转债简称：文灿转债 | | 文灿集团股份有限公司 关于审计机构变更质量控制复核人的公告 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。 项目质量控制复核人许心巧女士，于 2008 年开始在安永华明执业并从事上 市公司审计工作，于 2012 年成为中国执业注册会计师。许心巧女士涉及的行业 主要包括零售及消费品、高端制造业等。 2.独立性和诚信记录情况 1 / 2 许心巧不存在违反《中国注册会计师职业道德守则》对独立性要求的情形， 且近三年未受到任何刑事处罚，未因执业行为受到证监会及其派出机构、行业主 管部门等的行政处罚或监督管理措施，未因执业行为受到证券交易所、行业协会 等自律组织的自律监管措施、纪律处分。 三、本次变更对公司的影响 本次变更过程中相关工作已有序交接，变更事项不会对公司 2024 年度财务 报告和内部控制审计工作产生不利影响。 文灿集团股份有限公司（以下简 ...

文灿集团股份有限公司（以下简称"公司"）于 2024 年 7 月 15 日召开第四 届董事会第七次会议、第四届监事会第六次会议，审议通过《关于使用部分闲置 募集资金进行现金管理的议案》，同意公司及子公司在确保不影响募集资金项目 建设和募集资金使用的情况下，将未使用募集资金以协定存款等方式存放以备随 时使用，并使用不超过人民币 6.00 亿元的暂时闲置募集资金用于投资安全性高、 流动性好、期限不超过 12 个月的银行和非银行类金融机构发行的有保本约定的 理财产品、存款产品等，使用期限自董事会审议通过之日起 12 个月内有效，在 决议有效期内该资金额度可以滚动使用。具体内容详见公司于 2024 年 7 月 16 日在上海证券交易所网站（www.sse.com.cn）披露的《关于使用部分闲置募集资 金进行现金管理的公告》。 一、开立募集资金理财产品专用结算账户的情况 | 证券代码：603348 | 证券简称：文灿股份 | 公告编号：2024-057 | | --- | --- | --- | | 转债代码：113537 | 转债简称：文灿转债 | | 文灿集团股份有限公司 关于开立募集资金理财产品专用结算账户的公告 ...

| 证券代码：603348 | 证券简称：文灿股份 | 公告编号：2024-056 | | --- | --- | --- | | 转债代码：113537 | 转债简称：文灿转债 | | 文灿集团股份有限公司 修正前转股价格：19.65元/股 修正后转股价格：19.50元/股 文灿转债本次转股价格调整实施日期：2024年9月27日 关于"文灿转债"转股价格调整的提示性公告 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： 证券停复牌情况：适用 因实施 2024 年半年度权益分派，本公司的相关证券停复牌情况如下："文灿 转债"自 2024 年 9 月 19 日（权益分派公告前一交易日）至 2024 年 9 月 26 日（权 益分派股权登记日）期间停止转股，2024 年 9 月 27 日起恢复转股。 | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | 113537 | 文 ...