证券代码：603507 证券简称：振江股份 公告编号：2024-058 江苏振江新能源装备股份有限公司 关于控股股东部分股份质押及解除质押的公告 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： 江苏振江新能源装备股份有限公司（以下简称"公司"）控股股东胡震先 生持有公司股份 4,120.6155 万股，占公司总股本的 22.36%，本次质押及解除质 押后，胡震先生累计质押股份 2,860 万股，占其所持股份的比例 69.41%,占公司 总股本的 15.52%。 公司控股股东、实际控制人胡震先生、卜春华女士及其一致行动人江阴 振江朗维投资企业（有限合伙）（以下简称"朗维投资"）合计持有公司股份 5,156.0262 万股，占公司总股本的 27.98%，本次质押及解除质押后，胡震先生、 卜春华女士及其一致行动人朗维投资累计质押公司股份 3,585.66 万股，占其持有 公司股份的 69.54%，占公司股份总数的 19.46%。 一、上市公司股份质押及解除质押情况 公司于近日收到控股股东胡震先生的通知，获悉其对所持有 ...

证券代码：603507 证券简称：振江股份 公告编号：2024-057 江苏振江新能源装备股份有限公司 关于 2020 年度非公开发行股票募集资金投资项目结项暨 节余募集资金永久补充流动资金并注销专户的公告 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个别及连带责任。 重要内容提示： 江苏振江新能源装备股份有限公司（以下简称"公司"）2020年度非公 开发行股票募集资金投资项目（以下简称"募投项目"）已按计划完成资金投入 并结项。截至2024年7月10日，节余募集资金合计24,989,777.83元（含利息收入， 实际金额以资金转出当日专户余额为准），占2020年度非公开发行股票募集资金 净额的4.48%，公司拟将上述节余募集资金用于永久补充流动资金。 公司2020年度非公开发行股票募投项目已全部建设完毕，节余募集资金 低于募集资金净额的5%，根据《上海证券交易所上市公司自律监管指引第1号— —规范运作》的有关规定，本次节余募集资金永久补充流动资金事项无需提交公 司董事会、股东大会审议，亦无需保荐机构、监事会发表意见。 一、募集资金基 ...

Summary of the Earnings Call for Zhenjiang Co., Ltd. Company Overview - **Company**: Zhenjiang Co., Ltd. - **Date of Call**: July 11, 2024 - **Key Speaker**: CEO Li Key Points Financial Performance - The company issued a profit forecast indicating a net profit attributable to shareholders between **11 million to 14 million**, representing a year-on-year growth of **40.7% to 79.08%** [2][45] - The forecast also noted potential non-recurring gains in the upcoming semi-annual report [2] Business Directions - The company is focusing on two main business directions: 1. Expanding its overseas business in photovoltaic (PV) mounting structures. 2. Collaborating with Siemens on large offshore wind turbines [2][10] Operational Challenges - **Shipping Delays**: The company faced shipping schedule issues due to geopolitical factors, particularly in the Red Sea, which extended delivery times by over half a month [5][10] - **Underperformance in U.S. PV Installations**: The expected U.S. PV installations were revised down from **50 GW** to between **30 GW and 40 GW**, impacting the delivery volume of PV mounting structures [6][7] - **Offshore Vessel Business**: The offshore vessel business experienced delays in project settlements, affecting revenue recognition [9][10] Production and Capacity - The company shipped **6,000 tons** of PV mounting structures in Q2, below expectations of **10,000 tons** [8] - Anticipated total shipments for the year are projected at **45,000 to 50,000 tons**, with a significant portion expected in Q4 [7][8] - The new Nantong factory, which began operations on June 26, 2024, is expected to significantly contribute to revenue in the following year [11][12] Future Outlook - The company is preparing for a ramp-up in production for Siemens' **14 MW** offshore wind turbines, with expectations of substantial contributions to revenue starting next year [10][12] - The Nantong Phase II project, focusing on casting components, is expected to commence production by mid-2025, contributing to profits in subsequent years [13] - The company is optimistic about the European offshore wind market, anticipating increased demand and project completions in the coming years [14] Strategic Partnerships - The company is in the final stages of certification with new clients in the U.S. and is optimistic about securing new orders [21] - A new factory in Saudi Arabia, in collaboration with GCS, is expected to produce **3 GW** of capacity, translating to approximately **50,000 tons** of output [22][30] Cost Management - Shipping costs account for about **15%** of production costs, and the company has managed to keep these costs relatively stable despite fluctuations in freight rates [4][26] - The company is actively engaging in hedging strategies for raw materials, particularly steel, to mitigate cost volatility [40] Conclusion - Despite facing challenges in Q2, the company remains confident in its long-term growth trajectory, particularly in the offshore wind and PV sectors, and is well-positioned to capitalize on upcoming opportunities in the market [45]

Summary of Conference Call Company or Industry Involved - The conference call is related to Minsheng Securities, a financial services company in the investment sector [1] Core Points and Arguments - The content of the conference call is intended solely for professional investors and does not constitute investment advice [1] - There are strict confidentiality requirements regarding the information shared during the call, with legal repercussions for any unauthorized disclosure [1] Other Important but Possibly Overlooked Content - The company reserves the right to pursue legal action against any individual or institution that breaches the confidentiality of the meeting [1]

Summary of Conference Call Notes Company and Industry Overview - The conference call discusses **Zhenjiang Co., Ltd.**, focusing on its operations in the **wind and solar energy** sectors, particularly in the manufacturing of components such as rotor blades and photovoltaic (PV) brackets [1][2][3]. Key Points and Arguments Revenue Growth and Financial Performance - The company has shown a **steady revenue growth** from 2018 to 2023, with a notable increase of **20% to 30%** in the last two to three years, reaching approximately **35%** growth in recent years [2]. - The **overseas revenue** has remained stable, constituting **65% to 70%** of total revenue, indicating a strong export-oriented business model [5]. - Profitability has faced challenges due to industry supply-demand fluctuations, particularly in the wind energy sector, but has shown signs of recovery with improved performance in early 2024 [6][8]. Product and Market Dynamics - The company’s product mix includes various components for wind and solar energy, with a focus on **fixed, adjustable, and tracking PV brackets** [1]. - The demand for wind energy components is expected to grow, particularly in Europe, with projections indicating a significant increase in offshore wind installations from **2024 to 2030** [11]. - The company is positioned to benefit from the **growing demand** for offshore wind energy, with expectations of direct performance improvements in the coming years [9][11]. Competitive Landscape and Challenges - The competitive landscape in the domestic market is intense, leading to lower profit margins compared to overseas markets, where the company can achieve higher profitability due to less competition and better pricing power [30][31]. - The company faces challenges in exporting to Europe and the U.S. due to established local competitors and regulatory barriers, but it has opportunities to penetrate emerging markets in the Middle East [16][27]. Future Outlook - The company is expanding its manufacturing capabilities in the U.S. and Saudi Arabia, which are expected to enhance profit margins and operational efficiency [27][40]. - Projections for revenue from wind energy equipment are optimistic, with expected revenues of **2.6 billion**, **3.6 billion**, and **4 billion** in 2024, 2025, and 2026, respectively [46]. - The solar energy segment is also anticipated to grow, with expected revenues of **1.3 billion** in 2024, **1.65 billion** in 2025, and **1.9 billion** in 2026 [48]. Additional Important Insights - The company has established long-term relationships with key overseas clients, which enhances its competitive edge and market positioning [35][36]. - The manufacturing cost advantages in China compared to other regions, such as India and Europe, are significant, allowing the company to maintain a competitive pricing strategy [28][30]. - The company’s strategic focus on expanding its assembly capabilities and product offerings is expected to drive future growth and profitability [43][44]. This summary encapsulates the critical insights from the conference call, highlighting the company's performance, market dynamics, and future growth prospects in the renewable energy sector.

[Performance Forecast Summary](index=1&type=section&id=Key%20Content%20Highlights) Overview of the company's projected half-year financial performance, highlighting key net profit metrics and growth rates Core Performance Indicators for H1 2024 Performance Forecast | Indicator | Forecast Amount (RMB) | Year-over-Year Growth Rate | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | 110 million RMB to 140 million RMB | 40.70% to 79.08% | | **Net Profit After Deducting Non-Recurring Gains and Losses** | 95 million RMB to 125 million RMB | 0.28% to 31.95% | [Performance Forecast Details](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) Detailed presentation of the company's projected financial results for the current half-year and a review of the prior year's performance [Current Period Performance Forecast (January 1 to June 30, 2024)](index=1&type=page&id=I.%20Current%20Period%20Performance%20Forecast) The company forecasts H1 2024 net profit attributable to shareholders to be between 110 million and 140 million RMB, representing a year-over-year increase of 40.70% to 79.08%, with non-recurring adjusted net profit projected at 95 million to 125 million RMB, up 0.28% to 31.95% year-over-year H1 2024 Performance Forecast Details | Indicator | Forecast Amount (RMB) | Increase from Prior Year (RMB) | Year-over-Year Growth Rate | | :--- | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders** | 110 million RMB - 140 million RMB | 31.8218 million RMB - 61.8218 million RMB | 40.70% - 79.08% | | **Non-Recurring Adjusted Net Profit Attributable to Shareholders** | 95 million RMB - 125 million RMB | 0.2648 million RMB - 30.2648 million RMB | 0.28% - 31.95% | [Prior Period Performance Overview](index=1&type=page&id=II.%20Prior%20Period%20Performance%20Overview) In the corresponding period of 2023, the company achieved a net profit attributable to shareholders of 78.1782 million RMB, a non-recurring adjusted net profit of 94.7352 million RMB, and earnings per share of 0.55 RMB H1 2023 Performance Review | Indicator | H1 2023 Amount (RMB) | | :--- | :--- | | **Net Profit Attributable to Shareholders** | 78.1782 million RMB | | **Non-Recurring Adjusted Net Profit Attributable to Shareholders** | 94.7352 million RMB | | **Earnings Per Share** | 0.55 RMB | [Analysis of Performance Growth Drivers](index=2&type=section&id=III.%20Primary%20Reasons%20for%20Current%20Period%20Performance%20Increase) Key factors contributing to the company's anticipated performance increase, including strong business development and enhanced profitability - Strong Main Business Development: The company's wind power, photovoltaic, and fastener businesses have sufficient orders on hand, with new production lines commencing operation and new products being shipped in bulk, collectively driving the improvement in main business performance[2](index=2&type=chunk) - Improved Profitability: Benefiting from the realization of economies of scale and strengthened lean management, overall operating costs decreased, leading to a year-over-year increase in product gross margin[10](index=10&type=chunk) [Risk Warning and Other Disclosures](index=2&type=section&id=IV.%20Risk%20Warning) Disclaimer regarding the preliminary nature of the performance forecast and confirmation of no significant uncertainties affecting its accuracy - The company confirms there are no significant uncertainties affecting the accuracy of this performance forecast[3](index=3&type=chunk) - The data in this performance forecast is a preliminary calculation result, and the specific accurate financial data will be subject to the company's officially disclosed H1 2024 report[3](index=3&type=chunk)

具 体 内 容 详 见 公 司 于 2023 年 4 月 22 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《振江股份关于尚和（上海）海洋工程设备有限公司 2022 年度未完成业绩承诺及有关业绩补偿的公告》（公告编号：2023－034）。 二、收到部分业绩补偿款的情况 公司已于 2023 年收到郑文俊和南通零一支付的业绩承诺补偿款 250 万元， 于 2024 年 6 月 28 日前收到 1,180 万元，截至目前合计收到 1,430 万元业绩承 诺补偿款，业绩承诺补偿义务尚未履行完毕。公司将继续积极督促业绩承诺方切 实履行业绩承诺补偿义务，同时将严格按照监管规则履行信息披露义务。敬请投 资者注意投资风险。 证券代码：603507 证券简称：振江股份 公告编号：2024-055 江苏振江新能源装备股份有限公司 关于收到部分业绩补偿款的公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、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个别及连带责任。 一、业绩补偿情况概述 江苏振江新能源装备股份有限公司（以下简称"公司"）在 2018 年 4 月 16 ...

证券代码：603507 证券简称：振江股份 公告编号：2024-054 江苏振江新能源装备股份有限公司 关于职工代表监事离职及补选职工代表监事的公告 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个别及连带责任。 一、离职职工代表监事的基本情况 2024年7月10日 附件： 二、公司补选职工代表监事的情况 为保证公司监事会的正常运行，根据《公司法》及《公司章程》有关规定， 公司于2024年7月9日召开职工代表大会，审议通过了关于选举职工代表监事的议 案。经与会职工代表讨论并投票表决，一致同意选举朱剑宏先生担任公司第四届 监事会职工代表监事（简历附后），任期至公司第四届监事会任期届满。 上述职工代表监事符合《公司法》、《公司章程》等法律法规关于监事任职 的资格和条件，并将按照《公司法》及《公司章程》的有关规定行使职权。 公司及公司监事会对董冰先生在任职工代表监事期间为公司发展所做出的 贡献表示衷心的感谢！ 特此公告。 江苏振江新能源装备股份有限公司 监事会 江苏振江新能源装备股份有限公司（以下简称"公司"）监事会于近日收到 公司职工代表监 ...

Investment Rating - The report assigns a **Buy** rating to the company with a target price of **39.90 RMB** for 2024, based on a 19x PE multiple [47][25] Core Views - The company is expected to achieve EPS of **2.10**, **3.01**, and **3.79 RMB** for 2024, 2025, and 2026 respectively [25] - The company is a leader in wind and solar power equipment structural components, with a strong presence in overseas markets, particularly in the US and Europe [22][70] - The company has established long-term strategic partnerships with industry leaders such as Siemens and GE, which provides a solid foundation for market expansion [22][70] Financial Performance - Revenue is projected to grow from **4,637 million RMB** in 2024E to **7,198 million RMB** in 2026E, with a CAGR of **20.7%** to **19.9%** [3][9] - Net profit is expected to increase from **326 million RMB** in 2024E to **590 million RMB** in 2026E, with a CAGR of **62.6%** to **25.9%** [3][9] - Gross margin is forecasted to remain stable at around **19.2%** from 2024E to 2026E, while net margin is expected to improve from **6.4%** to **7.5%** over the same period [3][9] Industry Outlook - The global wind power market is expected to grow significantly, with offshore wind installations projected to increase from **10.8 GW** in 2023 to **31 GW** by 2027 [101][113] - The European offshore wind market is expected to grow rapidly, with annual installations projected to reach **25 GW** by 2030, driven by EU policies and energy independence goals [22][113] - The US solar market is expected to see strong growth in utility-scale projects, supported by declining module prices and the implementation of the IRA subsidy [22][144] Company Strategy - The company is expanding its product portfolio and actively developing new business opportunities, including wind turbine assembly and leasing services [22][73] - The company has established subsidiaries in the US and Saudi Arabia to capture growth opportunities in these key markets [22][73] - The company is focusing on tracking solar支架, which is expected to become a major trend in the solar支架 market due to its cost-effectiveness [134][156] Valuation - The company's 2024E PE multiple of **19x** is based on a comparison with peers in the solar支架 and wind power export sectors, such as Zhongxinbo and Yihua股份 [9][13] - The company's valuation is supported by its strong market position in overseas markets and its ability to benefit from the growth in wind and solar power installations [22][70]

证券代码：603507 证券简称：振江股份 公告编号：2024-053 江苏振江新能源装备股份有限公司 2023 年年度权益分派实施公告 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： 相关日期 | | | | 除权（息） | 新增无限售 | 现金红利发 | | --- | --- | --- | --- | --- | --- | | 股份类别 | 股权登记日 | 最后交易日 | 日 | 条件流通股 | 放日 | | | | | | 份上市日 | | | Ａ股 | 2024/7/5 | － | 2024/7/8 | 2024/7/8 | 2024/7/8 | 差异化分红送转： 是 一、 通过分配、转增股本方案的股东大会届次和日期 本次利润分配及转增股本方案经公司 2024 年 5 月 24 日的 2023 年年度股东大会审议通过。 （1）根据公司 2024 年 5 月 24 日 2023 年年度股东大会审议通过的《关于公司 2023 年度利润分配的预案》，向全体股东每 10 股派发现金红利 3.90 元（含税 ...