上海东洲资产评估有限公司 2024 年 10 月 29 日 本资产评估报告依据中国资产评估准则编制 华达汽车科技股份有限公司拟发行股份及支付现金 购买资产所涉及的江苏恒义工业技术有限公司股东 全部权益价值 资产评估报告 东洲评报字【2024】第 2321 号 （报告书及附件） 共 3 册 第 1 册 资产评估报告 东洲评报字【2024】第 2321 号 東洲資產評估 ORIENT APPRAISAL 东洲东洲东洲东洲东洲东洲东洲东洲东洲东洲东洲东洲东洲东洲东洲东洲东洲东洲东洲 上海东洲资产评估有限公司 上海市延安西路889号太平洋企业中心19楼 Tel:86-21-52402166 Fax:86-21-62252086 声明 声 明 一、本资产评估报告依据财政部发布的资产评估基本准则和中国资产评估协会发 布的资产评估执业准则和职业道德准则编制。 二、委托人或者其他资产评估报告使用人应当按照法律、行政法规规定和资产评 估报告载明的使用范围使用资产评估报告；委托人或者其他资产评估报告使用人违反 前述规定使用资产评估报告的，资产评估机构及资产评估专业人员不承担责任。 三、资产评估报告仅供委托人、资产评估委托合同中约 ...

Financial Performance - The company's revenue for Q3 2024 was CNY 1,196,598,070.88, a decrease of 5.64% compared to the same period last year[3]. - Net profit attributable to shareholders was CNY 36,005,841.54, down 64.69% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was CNY 45,548,861.38, a decrease of 2.39% compared to the previous year[3]. - Basic earnings per share for the period were CNY 0.09, a decline of 62.50% year-on-year[3]. - Total operating revenue for the first three quarters of 2024 was CNY 3,537,931,760.50, a decrease of 2.5% compared to CNY 3,628,123,704.38 in the same period of 2023[15]. - Net profit for the first three quarters of 2024 was CNY 235,482,242.00, a decrease of 21.4% compared to CNY 299,587,369.32 in 2023[16]. - The net profit attributable to the parent company for the first three quarters of 2024 is CNY 200,167,053.28, compared to CNY 262,042,819.66 in the same period of 2023, reflecting a decrease of approximately 23.6%[17]. - The total comprehensive income attributable to the parent company for the first three quarters of 2024 is CNY 200,167,053.28, down from CNY 262,042,819.66 in 2023, indicating a decline of about 23.6%[17]. - The net profit for the first three quarters of 2024 was CNY 142,612,534.68, down 21.1% from CNY 180,847,042.31 in the first three quarters of 2023[24][25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,349,823,949.32, a decrease of 6.01% from the end of the previous year[4]. - Total assets as of the end of Q3 2024 were CNY 6,349,823,949.32, down from CNY 6,756,096,599.76 at the end of Q3 2023[14]. - Total current assets amounted to approximately CNY 3.22 billion, a decrease of 22% from CNY 4.13 billion at the end of 2023[12]. - The total liabilities of the company were not explicitly stated but are critical for assessing financial health[11]. - Total liabilities as of the end of Q3 2024 were CNY 2,657,426,751.02, a decrease from CNY 3,007,827,174.06 in the previous year[14]. - The total liabilities increased to CNY 1,546,043,367.46 in Q3 2024 from CNY 1,540,524,273.66 in Q3 2023[24]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 194,986,059.87, a decrease of 5.04% compared to the same period last year[3]. - The operating cash flow for the first three quarters of 2024 is CNY 194,986,059.87, slightly lower than CNY 205,339,537.49 in the same period of 2023, showing a decrease of approximately 1.7%[18]. - Cash inflow from operating activities totaled CNY 3,320,576,985.61 in the first three quarters of 2024, compared to CNY 3,273,083,191.78 in 2023, representing an increase of about 1.4%[18]. - The company reported a net cash outflow from investing activities of CNY -739,457,496.00 for the first three quarters of 2024, compared to CNY -157,233,822.87 in the same period of 2023, reflecting a significant increase in cash outflow[19]. - The company's cash and cash equivalents were reported at CNY 745.76 million, down from CNY 1.29 billion, a decrease of 42%[11]. - The cash and cash equivalents at the end of September 2024 amount to CNY 609,989,005.52, down from CNY 1,082,351,735.74 at the end of December 2023, indicating a decrease of approximately 43.6%[19]. - The company's cash inflow from financing activities for the first three quarters of 2024 is CNY 502,906,500.00, compared to CNY 363,890,000.00 in the same period of 2023, showing an increase of approximately 38.2%[19]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,323[8]. - There were no significant changes in the shareholding structure among the top 10 shareholders compared to the previous period[10]. Research and Development - Research and development expenses for the first three quarters of 2024 were CNY 126,245,375.51, an increase of 11.8% compared to CNY 112,838,710.45 in 2023[15]. - The company's R&D expenses for the first three quarters of 2024 were CNY 73,961,801.66, a decrease of 7.5% compared to CNY 79,959,655.13 in the same period of 2023[24]. Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[16]. - Future outlook and performance guidance were not provided in the report[10]. - The company has not disclosed any new product launches or technological advancements during this quarter[10]. - The company has not engaged in any mergers or acquisitions during this reporting period[10].

Investment Rating - The report maintains a "Buy" rating for the company with a target price range of 44.5-53.4 yuan, based on a 25-30x PE multiple for 2025 [4][14] Core Views - The company is accelerating its dual transformation in both customer base and business segments, leveraging its leading position in automotive stamping to expand into new energy vehicles and robotics [1][8] - Strategic investments in Chery and partnerships with leading new energy vehicle companies are expected to drive growth [1][9] - The company is proactively positioning itself in the humanoid robotics industry through a strategic cooperation agreement with Efotech, a leading domestic industrial/humanoid robot manufacturer [2][11] - The company is exploring opportunities in the low-altitude economy, particularly in the flying car and eVTOL sectors, which could create new growth curves [3][13] Financial Projections - Revenue is expected to grow from 7.296 billion yuan in 2024 to 11.152 billion yuan in 2026, representing a CAGR of 23.7% [7][14] - Net profit attributable to the parent company is projected to increase from 577 million yuan in 2024 to 955 million yuan in 2026, with a CAGR of 28.6% [7][14] - EPS is forecasted to rise from 1.31 yuan in 2024 to 2.18 yuan in 2026 [7][14] Strategic Developments - The company secured 40 body component projects from 23 domestic customers and 18 battery tray projects from 6 customers, with a total lifecycle sales value of 9.1 billion yuan [1] - A strategic cooperation agreement with Efotech focuses on developing lightweight materials and components for industrial/humanoid robots, with potential for replication across the company's bases [2][12] - The company is exploring the low-altitude economy through discussions with Guangdong Haiou Flying Car Group, aiming to accelerate the industrialization of flying cars and eVTOL [3][13] Industry Outlook - The humanoid robotics market in China is projected to grow from 2.158 billion yuan in 2024 to 37.97 billion yuan in 2030, with a CAGR exceeding 61% [11] - The low-altitude economy, particularly flying cars, is seen as a significant new productive force, with 2024 expected to be a year of rapid development [3][13]

证券代码：603358 证券简称：华达科技 公告编号：2024-063 华达汽车科技股份有限公司 关于新增获得客户项目定点的公告 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。 一、概况 （一）新增获得车身零部件项目定点：新增获得 10 家客户（主 要为合资品牌和国内自主品牌主机厂，限于保密要求，无法披露其名 称）的 15 个项目定点，为客户开发、设计、生产侧围总成、轮罩总 成、纵梁等车身零部件产品。其中全新开发客户 3 家。根据客户规划， 上述项目预计生命周期为 5-8 年，预计总金额为人民币 25.34 亿元。 其中，涉及新能源汽车项目 6 项，预计总金额为人民币 17.67 亿元。 上述定点项目从 2024 年第四季度开始逐步量产。 （二）新增获得电池箱托盘项目定点：公司控股子公司江苏恒义 工业技术有限公司新增获得 2 家客户（分别为国内新能源电池和整车 生产企业，限于保密要求，无法披露其名称）的 2 个项目定点，为客 户开发、设计、生产新能源汽车电池箱托盘产品。根据客户规划，上 述项目预计生命周期为 3-4 年，预计总 ...

证券代码：603358 证券简称：华达科技 公告编号：2024-062 2024 年 9 月 21 日，华达汽车科技股份有限公司（以下简称"公 司"）公告了《关于签订<战略合作框架协议>的公告》，具体内容详见 公司披露于上海证券交易所网站（www.sse.com.cn）的公告（公告编 号：2024-061）。现就上述公告存在风险做进一步补充提示，具体内 容如下： 1.本次签订的战略合作框架协议不具有任何强制性的法律约束 力，只是着眼于未来合作的意向性协议，对未来产品订单、供货未做 出任何安排保证。不构成协议双方相互追究违约责任的依据。 2.公司目前的产品和客户没有发生变化。公司从事汽车零部件产 品的生产与销售，产品包括燃油车冲压焊接零部件、新能源汽车电池 箱托盘及铝合金型材挤压及铝合金压铸件等 3 大类产品。客户主要是 燃油汽车、新能源汽车整车厂及新能源电池包生产企业。公司产品目 前未应用于工业/人形机器人领域，未产生相关业务收入，后续能否 产生收入具有重大不确定性。 3.该框架协议仅为初步合作意向，不涉及工业/人形机器人相关 业务具体购销行为。该合作项目后续何时实施、公司生产产品能否满 足客户需求以及是否具 ...

华达汽车科技股份有限公司 关于签订《战略合作框架协议》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。 证券代码：603358 证券简称：华达科技 公告编号：2024-061 重要内容提示： ● 履约的重大风险及不确定性：本次签署的《战略合作框架协议》 仅为协议双方根据合作意向，经友好协商达成的战略性约定，本协议 所涉及的具体合作事宜需另行签订相关合同，具体合作事项及实施进 展存在不确定性。 ● 对上市公司当年业绩的影响：本协议的履行对公司年度经营业绩 暂不构成重大影响。 一、战略合作框架协议签订的基本情况 2024 年 9 月 20 日，华达汽车科技股份有限公司（以下简称"公 司"）与埃夫特智能装备股份有限公司（以下简称"埃夫特"）签订了 《战略合作框架协议》（以下简称"协议"）。双方本着平等互利、优 势互补、共同发展的原则，经过友好协商，在真实、充分地表达各自 意愿的基础上，根据《中华人民共和国民法典》和相关法律法规的规 定，就进一步促进汽车零部件行业工业/人形机器人规模应用，达成 战略合作关系。 （一）交易对方的基 ...

证券代码：603358 证券简称：华达科技 公告编号：2024-060 华达汽车科技股份有限公司 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。 问题 1：公司在新能源汽车零部件市场的战略布局及未来发展规 划是什么？ 回答：目前，国内汽车行业竞争格局发生深刻变化，新能源汽车 渗透率持续保持上升趋势，燃油车市场份额逐步减少，为此，公司顺 应市场变化，在稳固现有燃油车业务基本盘基础上，大力开拓国内新 能源及自主品牌增量客户资源，研发新技术，开发新产品，建设先进 优质产能，进一步提升公司可持续发展能力和市场竞争力，巩固公司 在行业中的地位。 2.公司在汽车轻量化技术方面的最新研发进展如何？ 为便于广大投资者更加全面深入地了解公司 2024 年半年度的经 营成果及财务状况，华达汽车科技股份有限公司（以下简称"公司 "） 于 2024 年 9 月 16 日 15:00-16:00 在价值在线（www.ir-online.cn）以 网络文字互动方式召开 2024 年半年度业绩说明会，针对公 ...

重要内容提示： 华达汽车科技股份有限公司（以下简称"公司"）已于 2024 年 8 月 24 日在上海证券交易所（www.sse.com.cn）披露了《2024 年半 年度报告》。为便于广大投资者全面深入了解公司 2024 年半年度经 营成果、财务状况等情况，公司计划于 2024 年 9 月 16 日下午 15： 00-16:00 通过"价值在线"（www.ir-online.cn）举行 2024 年半年 度业绩说明会，就投资者关心的问题进行交流。 证券代码：603358 证券简称：华达科技 公告编号：2024-059 华达汽车科技股份有限公司 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。 总经理：葛江宏 会议问题征集： 1.投资者可于 2024 年 9 月 15 日前将有关问题通过电子邮件的 形式发送至公司投资者关系邮箱 hdzq@hdqckj.com 进行提问; 2.通过访问网址 https://eseb.cn/1hEndBcIdyg 或微信扫描下 方小程序码，点击"进入会议"现 ...

证券代码：603358 证券简称：华达科技 公告编号：2024-058 特此公告。 华达汽车科技股份有限公司董事会 2024 年 8 月 29 日 华达汽车科技股份有限公司 关于发行股份及支付现金购买资产并募集配套资金 申请文件获得上海证券交易所受理的公告 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、准确性和完整性承担法律责任。 华达汽车科技股份有限公司（以下简称"公司"）拟以发行股份 及支付现金的方式购买江苏恒义工业技术有限公司（以下简称"江苏 恒义"）44.00%的股权并募集配套资金（以下简称"本次交易"）。 公司于 2024 年 8 月 27 日收到上海证券交易所（以下简称"上交 所"）出具的《关于受理华达汽车科技股份有限公司发行股份购买资 产并募集配套资金申请的通知》（上证上审（并购重组）〔2024〕22 号）。 上交所依据相关规定对申请文件进行了核对，认为申请文件齐备，符 合法定形式，决定予以受理并依法进行审核。 本次交易尚需上交所审核通过，并获得中国证券监督管理委员会 （以下简称"中国证监会"）同意注册后方可正式实施，最终能否通 过上交所审 ...

Financial Performance - The operating revenue for the first half of 2024 was ¥2,341,333,689.62, a decrease of 0.79% compared to ¥2,360,004,747.09 in the same period last year[13]. - The net profit attributable to shareholders of the listed company was ¥164,161,211.74, an increase of 2.55% from ¥160,084,948.91 year-on-year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥158,271,425.15, representing a significant increase of 28.05% compared to ¥123,599,878.57 in the previous year[13]. - The net cash flow from operating activities was ¥137,714,464.73, down 25.41% from ¥184,628,045.33 in the same period last year[13]. - Basic earnings per share increased to 0.37 CNY from 0.36 CNY, representing a growth of 2.78% year-over-year[14]. - Diluted earnings per share also rose to 0.37 CNY from 0.36 CNY, reflecting a 2.78% increase compared to the same period last year[14]. - The net profit attributable to shareholders increased primarily due to higher other income and fair value changes[14]. - The weighted average return on equity decreased to 4.85% from 4.94%, a decline of 0.09 percentage points[14]. - The weighted average return on equity, excluding non-recurring gains and losses, increased to 4.68% from 3.81%, an increase of 0.87 percentage points[14]. Assets and Liabilities - Total assets decreased by 6.28% to ¥6,331,801,661.75 from ¥6,756,096,599.76 at the end of the previous year[13]. - The net assets attributable to shareholders at the end of the reporting period were ¥3,364,882,419.50, a slight increase of 0.31% from ¥3,354,385,207.76 at the end of the previous year[13]. - The company's financial expenses increased significantly by 1,073.57% to CNY 3,404,487.68 from CNY 290,096.73 in the previous year[21]. - Total liabilities decreased to CNY 2,553,382,561.15 from CNY 3,007,827,174.06, a reduction of about 15.1%[57]. - The company's total equity increased to CNY 3,778,419,100.60 from CNY 3,748,269,425.70, reflecting a growth of approximately 0.8%[57]. Cash Flow - The total cash inflow from operating activities for the first half of 2024 was CNY 2,167,865,245.52, a decrease of 5.5% compared to CNY 2,294,392,455.64 in the same period of 2023[64]. - The cash inflow from investment activities was CNY 35,417,486.53, while cash outflow was CNY 606,047,631.43, resulting in a net cash flow of -CNY 570,630,144.90, compared to -CNY 103,673,845.14 in the same period last year[65]. - The ending cash and cash equivalents balance was CNY 777,665,515.44, down 30% from CNY 1,110,574,245.75 at the end of the first half of 2023[65]. - The company reported a significant increase in cash paid to employees, totaling CNY 243,154,868.68, up 8.3% from CNY 223,975,849.05 in the previous year[64]. Dividends and Profit Distribution - The company plans to increase the mid-term cash dividend amount to no less than 10% of the net profit attributable to shareholders for the corresponding period[2]. - The board of directors has approved a proposal for profit distribution and mid-term cash dividends during the reporting period[2]. - The company anticipates a mid-term cash dividend amounting to no less than 10% of the net profit attributable to shareholders for the first half of 2024[35]. - The company plans to implement a mid-term dividend based on actual conditions during the reporting period[35]. Market and Industry Position - The company operates in the automotive parts sector, providing components for major clients including Tesla and BYD[17]. - The domestic automotive industry showed stable growth, with new energy vehicles maintaining a market share above 30%[17]. - Revenue from the new energy vehicle components business was 721 million yuan, representing a year-on-year growth of 17.61%, accounting for 32.65% of total main business revenue, an increase of 5.5 percentage points[19]. - The company has established close business relationships with major domestic new energy battery manufacturers, including CATL and SAIC, enhancing its market position in the new energy sector[19]. - The company has maintained stable relationships with major automotive manufacturers, ensuring its market share remains unaffected despite competition from new energy vehicles[19]. Research and Development - The company reported a decrease in research and development expenses due to reduced investment in new product development during the reporting period[20]. - The company has completed the system research and development of high-strength aluminum and new magnesium alloys, entering the innovation field of key automotive components[19]. - The company is focusing on optimizing its customer structure and actively developing new customer resources to enhance its competitive edge[19]. Risks and Compliance - There are no significant risks that could materially affect the company's operations during the reporting period[3]. - The company faces risks including market competition, rising raw material prices, and talent resource shortages[31]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[3]. - The company has taken measures to ensure compliance with regulatory requirements following previous warnings[41]. Investments and Acquisitions - The company completed the acquisition of a 10.20% stake in Jiangsu Hengyi Industrial Technology Co., Ltd., increasing its ownership from 45.8% to 56%[48]. - The company held a board meeting on December 25, 2023, and approved the cash acquisition agreement for Jiangsu Hengyi[48]. - The company also held a shareholder meeting on June 24, 2024, to approve the acquisition proposals[48]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 7,968[50]. - The largest shareholder, Chen Jinghong, holds 179,424,656 shares, accounting for 40.87% of the total shares[50]. - The second-largest shareholder, Ge Jianghong, holds 30,695,689 shares, representing 6.99% of the total shares[50]. - The company reported no changes in its total share capital and structure during the reporting period[50]. Environmental and Social Responsibility - The company invested a total of 204,000 CNY in poverty alleviation and rural revitalization projects during the reporting period[38]. - The entire investment of 204,000 CNY was allocated for rural revitalization, assistance for difficulties, scholarships, and medical subsidies[38]. Legal and Regulatory Matters - There were no significant lawsuits or arbitration matters during the reporting period[40]. - The company and its controlling shareholder maintained a good integrity status, with no major legal or regulatory issues reported[41]. - The company’s controlling shareholder, Chen Jinghong, was involved in a stock reduction without timely notification, leading to regulatory warnings, which have since been rectified[40]. - There were no significant related party transactions reported during the period[42].