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健盛集团(603558):2025年迎无缝业务转折年
Tianfeng Securities· 2025-03-27 13:13
Investment Rating - The report maintains a "Buy" rating for the company with a target price not specified [5] Core Views - The company is expected to experience a seamless business transition in 2025, with a focus on improving operational efficiency and profitability through various strategic initiatives [2][3] - The company's revenue for 2024 is projected to be 2.6 billion, representing a 13% increase, while the net profit is expected to reach 330 million, a 20% increase [1][4] - The report highlights the strong demand for cotton socks and the potential recovery of the seamless apparel segment, driven by improved orders and overseas production capacity [3] Financial Performance Summary - For Q4 2024, the company reported revenue of 650 million, a 4% year-on-year increase, and a net profit of 60 million, a 12% decrease [1] - The revenue breakdown for 2024 includes 300 million from knitted casual cotton socks (4% increase), 1.6 billion from knitted sports cotton socks (19% increase), and 600 million from seamless sports apparel (17% increase) [1] - The company anticipates EPS of 1.06, 1.20, and 1.39 for 2025-2027, with corresponding P/E ratios of 10, 9, and 7 [3][4] Strategic Focus Areas - The company plans to enhance its management system, focusing on operational efficiency and cost control to achieve new profit breakthroughs [2] - There is a commitment to expanding the sales team to capture new customers and increase market share, particularly in the seamless apparel segment [2] - The production team will concentrate on improving efficiency and quality control to ensure product competitiveness [2]
健盛集团(603558):公司年报点评:2024年归母净利润同比增20.15%
Haitong Securities· 2025-03-27 11:44
Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Views - The company achieved a revenue of 2.574 billion yuan in 2024, representing a year-on-year growth of 12.81%, with a net profit attributable to the parent company of 325 million yuan, up 20.15% year-on-year [7] - The company plans to distribute a dividend of 3.0 yuan per 10 shares (including tax), totaling 106 million yuan, which accounts for 55% of the 2024 net profit, resulting in a dividend yield of 4.8% [7] - The cotton socks business is expected to continue stable growth, with a revenue of 1.84 billion yuan in 2024, a year-on-year increase of 16.0% [7] - The seamless business has recovered, with a revenue of 661 million yuan in 2024, a year-on-year growth of 5.6% [7] - The company aims to strengthen team building and implement incentive mechanisms to enhance employee engagement and performance [7] - The estimated revenue for 2025-2027 is projected to be 2.854 billion, 3.321 billion, and 3.838 billion yuan respectively, with net profits of 382 million, 443 million, and 515 million yuan [7] Financial Data and Forecast - The company's revenue for 2023 was 2.281 billion yuan, with a projected growth of 12.8% in 2024 [6] - The net profit for 2023 was 270 million yuan, with a forecasted increase of 20.2% in 2024 [6] - The gross margin for 2024 is expected to be 28.8%, an increase of 2.82 percentage points year-on-year [7] - The diluted EPS for 2024 is projected to be 0.92 yuan [6] - The return on equity is expected to rise to 13.0% in 2024 [6]
健盛集团:公司信息更新报告:2024年棉袜量价齐升,期待无缝板块业绩释放-20250327
KAIYUAN SECURITIES· 2025-03-27 08:05
Investment Rating - The report maintains a "Buy" rating for the company [2][5] Core Views - The company is expected to achieve a revenue of 2.574 billion yuan in 2024, representing a year-on-year increase of 12.8%, and a net profit of 325 million yuan, up 20.2% year-on-year [2] - The cotton sock business is projected to grow due to increased volume and price, with a revenue of 1.844 billion yuan in 2024, a 16% increase, and a net profit of 279 million yuan, up 12.5% year-on-year [3] - The seamless apparel segment is anticipated to improve profitability significantly as production capacity utilization in Vietnam increases, with a revenue of 661 million yuan in 2024, a 5.6% increase, and a net profit of 46 million yuan, up 105% year-on-year [3] Financial Summary - Revenue and profit projections for 2024-2027 show consistent growth, with revenue expected to reach 3.401 billion yuan by 2027, and net profit projected at 470 million yuan [4][8] - The gross margin is expected to improve from 26.0% in 2023 to 29.8% in 2027, while the net margin is projected to rise from 11.9% to 13.8% over the same period [4][8] - The company maintains a high dividend payout ratio, with a cash dividend ratio of 54.74% for 2024, and a total buyback amount leading to a payout ratio of 94.7% [2]
健盛集团(603558):024年净利润增长20%,棉袜稳健增长无缝盈利修复
Guoxin Securities· 2025-03-26 09:14
证券研究报告 | 2025年03月26日 健盛集团(603558.SH) 优于大市 2024 年净利润增长 20%,棉袜稳健增长无缝盈利修复 2024 年净利润增长 20%,通过分红和回购提升股东回报。公司是棉袜制造龙 头,2017 年拓展无缝服饰代工业务。2024 年收入同比增长 12.8%至 25.74 亿 元,归母净利润增长 20.2%至 3.25 亿元,扣非归母净利润同比增长 22.5%至 3.21 亿元。毛利率同比提升 2.8 个百分点至 28.8%;销售/管理费用率分别 同比-0.1/+0.4 个百分点,主要系奖励基金计提增加;银行借款利率下降带 动财务费用率下降 0.3 个百分点。存货周转天数同比减少 6 天至 120 天,应 收账款/应付账款周转天数分别同比+2/4 天至 76/29 天。全年资本开支 2.79 亿元,经营性现金流净额 3.42 亿元,自由现金流达 0.64 亿元。2024 年末分 红 0.3 元/股,叠加中期分红 0.2 元/股,分红率为 55%;同时公司发布新的 回购方案,拟于拟于 2025/4/15-2026/4/14,回购金额 0.5-1.0 亿元,回购 价格不超过 1 ...
健盛集团: 健盛集团关于前十大股东和前十大无限售条件股东持股情况的公告
Zheng Quan Zhi Xing· 2025-03-26 08:25
Core Viewpoint - Zhejiang Jian Sheng Group Co., Ltd. announced the shareholding situation of its top ten shareholders and top ten unrestricted shareholders as of March 24, 2025, following the board meeting that approved a share repurchase plan [1]. Shareholding Summary Top Ten Shareholders - The top ten shareholders include the "Value Preferred Flexible Allocation Mixed Securities Investment Fund," which holds 6,315,500 shares, accounting for 1.79% of the company's total share capital [1]. Top Ten Unrestricted Shareholders - The same "Value Preferred Flexible Allocation Mixed Securities Investment Fund" is also listed among the top ten unrestricted shareholders, holding 6,315,500 shares, representing 1.79% of the total share capital [1].
健盛集团(603558) - 健盛集团关于前十大股东和前十大无限售条件股东持股情况的公告
2025-03-26 08:00
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。 浙江健盛集团股份有限公司(简称"公司")于2025年3月24日召开的第六届 董事会第十四次会议审议通过了《关于<浙江健盛集团股份有限公司关于回购部 分社会公众股份的预案>的议案》等相关议案。具体内容详见2025年3月25日披 露在上海证券交易所网站 (www.sse.com.cn)上的《公司第六届董事会第十四次 会议决议公告》(公告编号:2025-017)、《公司关于回购公司股份预案暨公司 "提质增效重回报"行动方案的公告》(公告编号:2025-028)、 《健盛集团 2024年年度股东大会通知》(公告编号:2025-029)。 证券代码:603558 证券简称:健盛集团 公告编号:2025-030 浙江健盛集团股份有限公司 关于前十大股东和前十大无限售条件股东持股情况的公告 特此公告。 浙江健盛集团股份有限公司 董事会 2025年3月26日 根据《上市公司股份回购规则》、《上海证券交易所上市公司自律监管指 引第 7 号——回购股份》等有关规定,现将董事会公告回购股份决议的 ...
健盛集团:24年归母净利润高增长,再度推出大额回购方案-20250326
申万宏源· 2025-03-26 06:08
Investment Rating - The report maintains a "Buy" rating for the company [2] Core Insights - The company is expected to achieve significant growth in net profit attributable to shareholders, with a forecasted increase of 13.5% in 2025 [7] - The company has announced a substantial share repurchase plan, aiming to buy back shares worth 0.5 to 1 billion yuan, which is expected to enhance shareholder value [7] - The company reported a revenue of 2.57 billion yuan in 2024, reflecting a year-on-year growth of 12.8%, and a net profit of 325 million yuan, up 20.2% year-on-year [7][9] Financial Data and Profit Forecast - Total revenue is projected to grow from 2.28 billion yuan in 2023 to 2.86 billion yuan in 2025, with a compound annual growth rate (CAGR) of approximately 11.1% [6] - Net profit attributable to shareholders is expected to rise from 270 million yuan in 2023 to 369 million yuan in 2025, indicating a strong growth trajectory [6] - The company's gross margin is anticipated to improve from 26.0% in 2023 to 29.0% in 2025, contributing to enhanced profitability [6][9] Business Performance - The cotton sock business showed steady growth, with a revenue of approximately 1.92 billion yuan in 2024, marking a year-on-year increase of 15.85% [7] - The seamless business segment demonstrated significant improvement, with a net profit growth of 107% in 2024, driven by effective management optimization [7] - The company is focusing on strengthening its competitive edge by enhancing collaboration with established clients and expanding its customer base [7]
健盛集团(603558):24年归母净利润高增长,再度推出大额回购方案
上 市 公 司 纺织服饰 2025 年 03 月 26 日 健盛集团 (603558) ——24 年归母净利润高增长,再度推出大额回购方案 报告原因:有业绩公布需要点评 买入(维持) | 市场数据: | 2025 年 03 月 25 日 | | --- | --- | | 收盘价(元) | 10.21 | | 一年内最高/最低(元) | 12.66/8.09 | | 市净率 | 1.4 | | 股息率%(分红/股价) | 4.41 | | 流通 A 股市值(百万元) | 3,606 | | 上证指数/深证成指 | 3,369.98/10,649.08 | | 注:"股息率"以最近一年已公布分红计算 | | | 基础数据: | 2024 年 12 月 31 日 | | --- | --- | | 每股净资产(元) | 6.77 | | 资产负债率% | 36.05 | | 总股本/流通 A 股(百万) | 353/353 | | 流通 B 股/H 股(百万) | -/- | 一年内股价与大盘对比走势: 03-25 04-25 05-25 06-25 07-25 08-25 09-25 10-25 11-25 1 ...
健盛集团20250325
2025-03-25 14:31
健盛集团 20250325 摘要 Q&A 健盛集团 2024 年全年经营情况如何? 健盛集团 2024 年全年收入和归母净利润实现快速增长。棉袜板块全年实现营业 收入 19.18 亿元,净利润 2.79 亿元,其中奖励基金计提 1,630 万元,分摊在棉 袜板块为 1,184 万元。如果不考虑奖励基金的影响,棉袜业务板块实现的净利 润为 2.91 亿元。无缝针织板块全年营业收入 6.56 亿元,同比增长约 5%,净利 润 4,543 万元,其中奖励基金分摊 450 万元。如果不考虑奖励基金的影响,无 缝针织业务板块净利润为 4,993 万元。 • 健盛集团 2024 年棉袜业务营收 18.4 亿元,无缝针织业务营收 6.56 亿元, 同比增长约 5%。棉袜业务若不考虑奖励基金影响,净利润为 2.91 亿元; 无缝针织业务若不考虑奖励基金影响,净利润为 4,993 万元。 • 2024 年贵州工厂贡献了公司主要利润,占比约 60%-70%;绍兴工厂贡献约 30%;越南工厂全年基本持平,四季度实现盈利。越南生产基地产能快速增 长,对整体业绩改善明显。 • 优衣库订单变化对公司业务有影响,上半年订单减少,下半年增加 ...
健盛集团(603558):点评报告:24年如期稳健增长,静待越南无缝提质增效
ZHESHANG SECURITIES· 2025-03-25 04:59
证券研究报告 | 公司点评 | 纺织制造 健盛集团(603558) 报告日期:2025 年 03 月 25 日 24 年如期稳健增长,静待越南无缝提质增效 ——健盛集团点评报告 投资要点 ❑ 24 年报符合预期,年末计提压力落地 2024 年公司实现收入 25.74 亿元(同比+12.8%),归母净利润 3.25 亿元(同比 +20.2%),扣非后归母净利润 3.21 亿元(同比+22.5%),兑现高质量稳健增长。 单 Q4 实现收入 6.50 亿元(同比+4.4%),归母净利润 0.62 亿元(同比-11.6%), 扣非后归母净利润 0.64 亿元(同比+4.0%),单季度收入降速与出货节奏有关, 而利润波动则受到年末计提奖励基金影响(提取金额为 1635 万元)。 24 年公司整体毛利率 28.8%(同比+2.8pp),Q4 毛利率 28.9%(同比+3.1pp),提 升来自工厂精细化管理及无缝提质增效。 24 年净利率 12.6%(同比+0.8pp),Q4 净利率 9.5%(同比-1.7pp),主要受奖励 基金计提影响(Q4 销售/管理费用率分别同比+1.2pp/2.1pp)。 ❑ 全年现金分红 55% ...