证券研究报告·公司点评报告·电机Ⅱ 鸣志电器（603728） 2023 年年报及 2024 一季报点评：业绩短期 2024 年 05月 03日 承压，机器人灵巧手持续推进 证券分析师 曾朵红 买入（维持） 执业证书：S0600516080001 021-60199793 盈[T 利ab 预le_ 测EP 与S 估] 值 2022A 2023A 2024E 2025E 2026E zengdh@dwzq.com.cn 证券分析师 谢哲栋 营业总收入（百万元） 2,960 2,543 2,806 3,160 3,613 执业证书：S0600523060001 同比（%） 9.05 (14.09) 10.35 12.62 14.32 xiezd@dwzq.com.cn 归母净利润（百万元） 247.24 140.44 184.51 235.82 304.19 同比（%） (11.58) (43.20) 31.37 27.81 28.99 股价走势 EPS-最新摊薄（元/股） 0.59 0.33 0.44 0.56 0.72 鸣志电器 沪深300 P/E（现价&最新摊薄） 95.67 168.42 128.20 10 ...

证券研究报告·公司点评报告·电机Ⅱ 鸣志电器（603728） 2023 年年报及 2024 一季报点评：业绩短期 2024 年 05月 03日 承压，机器人灵巧手持续推进 证券分析师 曾朵红 买入（维持） 执业证书：S0600516080001 021-60199793 盈[T 利ab 预le_ 测EP 与S 估] 值 2022A 2023A 2024E 2025E 2026E zengdh@dwzq.com.cn 证券分析师 谢哲栋 营业总收入（百万元） 2,960 2,543 2,806 3,160 3,613 执业证书：S0600523060001 同比（%） 9.05 (14.09) 10.35 12.62 14.32 xiezd@dwzq.com.cn 归母净利润（百万元） 247.24 140.44 184.51 235.82 304.19 同比（%） (11.58) (43.20) 31.37 27.81 28.99 股价走势 EPS-最新摊薄（元/股） 0.59 0.33 0.44 0.56 0.72 鸣志电器 沪深300 P/E（现价&最新摊薄） 95.67 168.42 128.20 10 ...

Investment Rating - The report maintains a "Buy" rating for the company [4]. Core Views - The company experienced short-term pressure on performance due to factors such as the relocation of production bases and underperformance of the Vietnam factory, leading to a significant decline in profits [1]. - The company reported a revenue of 2.543 billion yuan in 2023, a year-on-year decrease of 14.09%, and a net profit attributable to shareholders of 140 million yuan, down 43.20% year-on-year [1]. - The first quarter of 2024 saw a slight revenue decline to 608 million yuan, a decrease of 6.34% year-on-year, with a dramatic drop in net profit to 6 million yuan, down 80.03% year-on-year, primarily due to increased impairment losses [1]. - Despite short-term adjustments, the long-term growth logic remains intact, with expectations for recovery in downstream markets and growth in related business areas [1]. - The company is a leading global manufacturer of motors and drive systems, with significant advancements in stepper motors, brushless motors, and hollow cup motors [1]. - An investment of up to 65.14 million USD is planned for the wholly-owned subsidiary in Vietnam to optimize capacity structure and better serve overseas clients [1]. Financial Summary - The company is projected to achieve revenues of 3.082 billion yuan, 3.843 billion yuan, and 4.470 billion yuan for 2024, 2025, and 2026, respectively, with corresponding net profits of 253 million yuan, 376 million yuan, and 503 million yuan [2][3]. - The current market capitalization corresponds to a price-to-earnings (P/E) ratio of 96.5, 65.0, and 48.6 for the years 2024, 2025, and 2026, respectively [2][3]. - The company’s gross margin for Q1 2024 was 38.08%, remaining stable year-on-year [1].

Financial Performance - Net profit attributable to parent company shareholders in 2023 was RMB 140,443,532.71[3] - Total cash dividends proposed for 2023 amount to RMB 16,802,640.00, representing 11.96% of the net profit[3] - Accumulated distributable profit as of December 31, 2023, was RMB 559,569,540.56[3] - Revenue for 2023 decreased by 14.09% to RMB 2,542,791,117.61 compared to 2022[19] - Net profit attributable to shareholders dropped by 43.20% to RMB 140,443,532.71 in 2023[19] - Operating cash flow surged by 2297.25% to RMB 203,139,252.34 in 2023[19] - Basic earnings per share fell by 43.17% to RMB 0.3371 in 2023[20] - Weighted average return on equity decreased by 4.55 percentage points to 5.05% in 2023[20] - Revenue in Q4 2023 was RMB 626,658,316.13, showing a slight recovery compared to previous quarters[24] - Net profit attributable to shareholders in Q4 2023 was RMB 56,495,164.16, the highest among all quarters[24] - Full-year revenue reached 2.54279 billion yuan, a year-on-year decrease of 14.1%[29] - Control motor and drive system business revenue was 2.07204 billion yuan, down 10.74% year-on-year[29] - Net profit attributable to shareholders was 140.44 million yuan, a year-on-year decrease of 43.2%[29] - Gross margin for the year was 37.2%, down 1.0 percentage point year-on-year[29] - Operating cash flow for the year was 203.14 million yuan, a significant improvement year-on-year[29] - The company's operating profit for 2023 was 150.85 million yuan, a year-on-year decrease of 47.1%[63] - Net cash flow from operating activities increased significantly by 2297.25% to 203,139,252.34 yuan[64] - The company achieved total revenue of 2,542,791,117.61 yuan in 2023, a year-on-year decrease of 14.09%[64] - Overseas revenue accounted for 46.9% of the total revenue, reaching 1,193,684,347.27 yuan, a year-on-year decrease of 16.20%[68] - The gross profit margin for 2023 was 37.19%, a decrease of 1.01 percentage points compared to the previous year[67] - Revenue from the control motor and drive system segment was 2,072,044,697.73 yuan, a year-on-year decrease of 10.74%[67] - The company's total assets slightly decreased by 0.62% to RMB 3,841,559,588.18 at the end of 2023[19] - The decline in net profit was primarily due to fluctuations in domestic and international market demand[21] - Accounts receivable financing increased by 22.04 million yuan to 72.99 million yuan[27] - Government subsidies contributed RMB 18,765,555.56 to non-recurring gains in 2023[25] - The company distributed a cash dividend of 0.70 RMB per 10 shares (tax included) in 2023, totaling 29,404,410 RMB (tax included)[146] - For 2023, the proposed cash dividend is 0.40 RMB per 10 shares (tax included), totaling 16,802,640 RMB, accounting for 11.96% of the net profit attributable to shareholders[146] - The company's cumulative cash dividends from 2020 to 2022 reached 91,804,900 RMB, representing 37.85% of the average distributable profit over the three years[146] Subsidiaries and Global Operations - The company has multiple subsidiaries, including Moons' Industries (America) Inc. and Moons' Industries (Europe) Headquarters S.R.L.[10] - The company operates in various regions, including the Americas, Europe, Southeast Asia, Japan, and Vietnam[10] - The company has a significant presence in the automation and motion control industry through its subsidiaries[10] - The company's subsidiaries include Applied Motion Products Inc. and Lin Engineering Inc. in the United States[10] - The company has a subsidiary in India, Moons' Intelligent Motion System India Private Limited[10] - The company's subsidiary in the Americas generated revenue of $10.131 million and a profit of $2.217 million[91] - The company's subsidiary in Switzerland (TSS) achieved revenue of $5.636 million and a profit of $2.649 million[91] - The company's subsidiary in the US (LIN) recorded revenue of $25.978 million and a profit of $3.948 million[91] - The company's subsidiary in Vietnam reported revenue of $8.279 million but incurred a loss of $2.319 million[91] - The company's subsidiary in Taicang generated revenue of $95.485 million but experienced a loss of $2.724 million[91] - The company's subsidiary in Changzhou achieved revenue of $7.537 million but faced a loss of $2.009 million[91] - The company made a new overseas investment of GBP 1 million to establish Moons' Industries UK, a wholly-owned subsidiary focusing on motion control product sales[87][88] - Overseas assets accounted for 21.51% of total assets, amounting to RMB 826.42 million[84] - The company's subsidiaries span across various regions including the Americas, Europe, and Asia, indicating a strong global presence[125] Product and Revenue Breakdown - Revenue from HB stepper motors increased by 15% year-over-year, reaching $120 million[11] - PM stepper motors sales grew by 8% compared to the previous year, totaling $85 million[11] - The company's brushless motor segment achieved a 12% growth, generating $95 million in revenue[11] - Servo motor sales rose by 10%, contributing $110 million to the overall revenue[11] - The smart electric cylinder product line saw a 20% increase in sales, amounting to $50 million[11] - LED intelligent lighting systems revenue grew by 18%, reaching $75 million[12] - The company's LED driver segment experienced a 14% growth, with sales totaling $90 million[12] - Revenue from the motion controller product line increased by 9%, contributing $60 million[12] - The servo system segment saw a 7% growth, generating $80 million in revenue[12] - The company's equipment status management system sales grew by 11%, amounting to $40 million[12] - Brushless motor business achieved revenue of 167.34 million yuan, down 3% year-on-year[32] - Precision linear transmission system business achieved revenue of 78.18 million yuan[32] - Servo system business achieved revenue of 216.68 million yuan, up 16% year-on-year[33] - Global revenue of drive control system business was 700 million yuan, flat year-on-year[33] - Control motor and drive system business revenue in the photovoltaic/lithium battery/semiconductor application fields increased by approximately 22% year-on-year[35] - Control motor and drive system business revenue in the smart car and autonomous driving/lidar application fields increased by approximately 35% year-on-year[37] - Control motor and drive system business revenue in the medical and biochemical experimental equipment application fields decreased by 20% year-on-year[38] - Control motor and drive system business revenue in the robotics application fields decreased by 14% year-on-year[39] - Control motor and drive system business revenue in the industrial and factory automation application fields decreased by 3% year-on-year, with drive and control system business revenue increasing by 5%[40] - Revenue from traditional industry applications such as textile machinery, security monitoring, financial equipment, and communication equipment decreased by 28%, 11%, 17%, and 42% respectively[42] - Power and lighting system control business completed sales of 859,200 units, with revenue of 163.34 million yuan, a decrease of 26.26% year-on-year[43] - Equipment status management system business revenue was 48.32 million yuan, a decrease of 24.40% year-on-year, and relay trade agency business revenue was 257.92 million yuan, a decrease of 26.26% year-on-year[44] - The total revenue of control motor and drive system business in emerging high-value-added application fields decreased by approximately 120 million yuan year-on-year[41] - Control motor and drive system business accounted for 81.49% of total revenue, with products widely used in 3C, battery equipment, industrial robots, solar equipment, and medical devices[52] - LED intelligent lighting control and drive system business contributed 6.42% of total revenue, primarily serving high-end commercial lighting, smart building lighting, and medical lighting[52] - Equipment status management system business represented 1.90% of total revenue, mainly serving power, metallurgy, petrochemical, coal, automotive, and tobacco industries[52] - Trade agency business accounted for 10.14% of total revenue, primarily distributing Panasonic relay products for power system protection and railway traction equipment[52] Market and Industry Trends - The global industrial automation services market size reached $198.8 billion in 2022 and is expected to reach $332.4 billion by 2028, with a CAGR of approximately 8.83%[40] - The global smart manufacturing market size was $232 billion in 2020 and is expected to grow to $384 billion by 2025, with a CAGR of 11.9%[93] - The global motion control market size was $16 billion in 2020 and is projected to reach $22 billion by 2025, with a CAGR of 6.5%[93] - The customized motion control system market size was $7 billion in 2020 and is forecasted to grow to $12 billion by 2027, with a CAGR of 7.5%[93] - The global servo motor and drive control market is projected to grow from $19.85 billion in 2023 to $36.41 billion by 2032, with a CAGR of 6.97%, driven by the rise of smart manufacturing[57] - The Chinese government's policies, such as "Made in China 2025" and the "Robot+" Application Action Plan, provide strong support for the development of automation and motion control industries[58][59] R&D and Innovation - R&D expenses increased by 9.07% to 238,241,614.08 yuan, reflecting continued investment in innovation[64] - The company has over 20 years of experience in motion control product R&D and production, with core technologies in control motor and drive control systems[47] - Through acquisitions of AMP and T Motion, the company established a global R&D and manufacturing platform for motion control products and system-level solutions[47] - The company developed logistics automation, smart driving cockpit, and factory automation solutions through independent R&D and overseas partnerships[47] - LED intelligent lighting control and drive system business has 19 years of experience, integrating LED drive technology, computer software, and communication technologies[48] - The company's power control systems include specialized power supplies for financial printing equipment and ignition systems for commercial boilers[48] - Equipment status management system combines hardware, software, and system integration to provide real-time monitoring and fault diagnosis for industrial equipment[50] - The company's hybrid stepper motor products hold a global market share of over 10%, making it a major global supplier and breaking the monopoly of Japanese companies in the industry[55] - The company has established a global R&D and manufacturing platform for motor drive control through joint ventures and acquisitions, including Anpu Mingshi Automation, AMP, and T Motion[55] - The company focuses on high-tech LED intelligent drives, large-power sports venue lighting, and explosion-proof lighting, avoiding the highly competitive basic LED indoor lighting market[56] - The company's production management system enables comprehensive monitoring and real-time transparency of the production process, ensuring quality traceability[54] - The company's sales model includes direct sales, distributor sales, regional marketing through subsidiaries and offices, as well as exhibition and online promotion[54] - The company's R&D system spans basic technology research, key core technology research, and applied technology innovation, enabling technology sharing across business lines[54] - The company's product portfolio includes DC brushless motors, hollow cup motors, linear screw motors, and integrated control systems, all of which are at the forefront of global technology[55] - The company has 413 R&D personnel, representing 12.28% of total employees, with 128 holding master's degrees and 195 holding bachelor's degrees[78] Corporate Governance and Leadership - The company held 3 general meetings of shareholders in 2023, ensuring the protection of minority shareholders' rights[110] - The company's board of directors held 7 meetings in 2023, with effective implementation of resolutions and strategic decision-making[112] - The company's independent directors actively participated in decision-making and provided professional advice to support sustainable development[113] - The company's supervisory board held 7 meetings in 2023, effectively overseeing major business decisions and management compliance[114] - The company strictly adheres to regulations on information disclosure and insider information control, ensuring transparency and compliance[116] - The company held 3 performance briefings in 2023 to maintain investor relations, with the Board Secretary responsible for coordinating investor communications[117] - The company maintains independence from its controlling shareholder in assets, personnel, finance, organization, and business operations[118] - The 2022 Annual General Meeting approved 16 proposals including the 2022 Board of Directors Work Report and 2022 Financial Final Accounts Report[119] - No proposals were rejected at any general meetings during the reporting period[120] - Total pre-tax compensation for directors, supervisors, and senior management in 2023 was 4.9079 million yuan[121] - The company's controlling shareholder supports the establishment of an independent production and operation model without competing for business opportunities[118] - The company has an independent financial department and established financial accounting system separate from its controlling shareholder[118] - The 2023 First Extraordinary General Meeting approved 4 proposals including the cancellation of restricted stocks and stock options under the 2021 incentive plan[119] - The company's total shareholding by directors and senior management decreased by 1,495,000 shares in 2023, mainly due to block trades[121] - The company has independent R&D, production, and sales systems with necessary qualifications and licenses for its main business[118] - Chang Jianming, Chairman and President of the company, founded Mingzhi Electric in 1998 and currently holds multiple executive positions across various subsidiaries including Mingzhi International Trade, Mingzhi Hong Kong, and Mingzhi Industrial America[125] - Liu Jinping, Vice President and Director, joined the company in 1998 and has extensive experience in the precision motor industry[122] - Ted T. Lin, Director and Vice President, joined the company in 2018 and leads the advanced R&D team, focusing on new technology training and product development for stepper motors[122] - The company appointed Sun Feng as an independent director in April 2023, replacing Xu Yuzhou who resigned due to personal reasons[123] - Shen Luwei was elected as the employee representative supervisor in April 2023, following the resignation of the previous supervisor due to work adjustments[123] - Chang Jianming holds significant positions in multiple international subsidiaries, including Mingzhi Industrial Europe, Mingzhi Industrial Southeast Asia, and Mingzhi Industrial Japan[125] - The company's leadership team includes experienced professionals with backgrounds in finance, engineering, and legal affairs, ensuring comprehensive management and strategic oversight[122] - Mingzhi Electric has a diverse board of directors, including independent directors with expertise in law, accounting, and engineering, enhancing corporate governance[122] - The company's subsidiaries span across various regions including the Americas, Europe, and Asia, indicating a strong global presence[125] - Mingzhi Electric's leadership structure emphasizes continuity and expertise, with several key executives holding long-term positions since the company's inception[122] - The total actual remuneration received by all directors, supervisors, and senior management at the end of 2023 was 4.9079 million yuan[127] - The company's board of directors approved 19 proposals during the 11th meeting of the 4th board, including the 2022 annual financial report and profit distribution plan[129] - The company's board of directors approved 3 proposals during the 10th meeting of the 4th board, including providing guarantees for wholly-owned subsidiaries and conducting foreign exchange derivative transactions[129] - The company's board of directors approved the proposal to temporarily supplement working capital with some idle raised funds during the 9th meeting of the 4th board[129] - The company held a total of 7 board meetings in 2023, all of which were conducted through a combination of on-site and teleconference methods[132] - The company's total number of employees is 3,362, with 244 in the parent company and 3,118 in major subsidiaries[140] - The employee composition includes 1,312 production personnel, 525 sales personnel, and 967 technical personnel[140] - The educational background of employees includes 8 with a doctoral degree, 190 with a master's degree, and 947 with a bachelor's degree[140] - The Audit Committee held 3 meetings during the reporting period[134] - The Nomination Committee held 1 meeting during the reporting period[136] - The Remuneration and Assessment Committee held 2 meetings during the reporting period[137] - The company's board of directors approved 8 proposals during the 12th meeting, including adjustments to the 2021 restricted stock and stock option incentive plan[130] - The company's board of directors approved 6 proposals during the 15th meeting, including revisions to the articles of association and board meeting rules[130] - The company's board of directors approved 2 proposals during the 13th meeting, including the 2023 semi-annual report and the special report on the storage and actual use of raised funds[130] - The company implemented a long-term equity incentive mechanism to enhance the cohesion of core personnel and key employees, aligning with the "striver-oriented" philosophy[142] - The total labor outsourcing hours in 2023 amounted to 2,540,131 hours, with a total payment of 67,976,467 RMB[144] - The company's total equity incentive plan and employee stock ownership plan have been disclosed in temporary announcements with no subsequent changes[149] - The company repurchased and canceled 160,800 restricted shares and 7,200 stock options due to employee departures and performance failures in July 2023[150]

证券代码：603728 证券简称：鸣志电器 上海鸣志电器股份有限公司 2024 年第一季度报告 Consolidated Financial Statement FY2024 1 st Quarter 上海鸣志电器股份有限公司 2024 年第一季度报告 上海鸣志电器股份有限公司 2024 年第一季度报告 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚 假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | --- | --- | --- | --- | |-----------------------------------------------|------------------|------ ...

证券代码：603728 证券简称：鸣志电器 公告编号：2024-024 上海鸣志电器股份有限公司 上海鸣志电器股份有限公司（以下简称"公司"）于 2024 年 4 月 26 日召开 了公司第四届董事会第十八次会议，审议通过了公司《关于审议<2023 年度利润 分配方案>的议案》，2024 年 4 月 30 日公司于指定信息披露媒体披露了《关于 2023 年度利润分配方案的公告》。为便于广大投资者更加全面、深入地了解公司 情况，公司计划于 2024 年 5 月 15 日（星期三）上午 10:00—11:00 召开 2023 年 度网上业绩说明会，就投资者普遍关心的事项与广大投资者进行充分交流。 一、 说明会类型 关于召开 2023 年度网上业绩说明会的公告 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个别及连带责任。 重要内容提示： 四、 投资者参加方式 1. 投资者可以在 2024 年 5 月 15 日（星期三）上午 10:00-11:00 通过互联网注 册并登录中国证券网（https://roadshow.cnstock.com/） ...

证券代码：603728 证券简称：鸣志电器 公告编号：2024-010 上海鸣志电器股份有限公司 关于为全资子公司提供担保的公告 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。 被担保人：鸣志国际贸易（上海）有限公司 统一社会信用代码：91310115607387918D 重要内容提示： 一、 担保情况概述 （一）本次担保的基本情况 为保证鸣志国贸与松下电器机电（中国）有限公司（以下简称"松下中国"） 的电子元器件业务的开展，保证自 2024 年 04 月 01 日至 2025 年 3 月 31 日之间， 鸣志国贸与松下中国就电子元器件业务所签订的全部协议（或合同）的履行，鉴 于鸣志国贸为公司的全资子公司，公司拟就前述事项相关的付款业务（包括但不 限于本金、违约责任、赔偿责任等），为鸣志国贸以连带责任的方式提供保证， 担保金额不超过人民币 3,500 万元，担保期限自董事会审议通过之日起至前述事 项交易项下最后一笔付款业务履行期限届满之日起半年，无反担保。 （二）本次担保事项已履行及尚需履行的决策程序 公司于 2024 ...

上海鸣志电器股份有限公司 独立董事专门会议工作细则 上海鸣志电器股份有限公司 独立董事专门会议工作细则 第一章 总则 第一条 为充分发挥独立董事在董事会中参与决策、监督制衡、专业咨询等 职能，进一步完善上海鸣志电器股份有限公司（以下简称"公司"）的法人治 理结构，保护中小股东及利益相关者的利益，促进公司规范运作，根据《中华 人民共和国公司法》《上市公司独立董事管理办法》《上海证券交易所股票上 市规则》《上海证券交易所上市公司自律监管指引第1号——规范运作》等法律、 法规、规范性文件及《上海鸣志电器股份有限公司章程》（以下简称"《公司 章程》"）的相关规定，制定本细则。 第二条 独立董事是指不在公司担任除董事外的其他职务，并与公司及其主 要股东、实际控制人不存在直接或间接利害关系，或者其他可能影响其进行独 立客观判断关系的董事。 第二章 独立董事专门会议的职责 第五条 独立董事享有董事的一般职权，同时依照法律、行政法规、中国证 监会规定和《公司章程》等规定可以行使以下特别职权： 1 上海鸣志电器股份有限公司 独立董事专门会议工作细则 （一）独立聘请中介机构，对公司具体事项进行审计、咨询或者核查； 独立董事应当独 ...

证券代码：603728 证券简称：鸣志电器 公告编号：2024-008 上海鸣志电器股份有限公司 表决情况：9 票同意，0 票反对，0 票弃权。 表决结果：通过。 第四届董事会第十七次会议决议公告 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。 上海鸣志电器股份有限公司（以下简称"公司"）第四届董事会第十七次会 议于 2024 年 3 月 29 日以现场结合通讯的方式召开，会议通知于 2024 年 3 月 24 日以电子邮件方式向全体董事发出。会议应出席董事 9 名，实际出席董事 9 名。 会议由董事长常建鸣先生主持。会议的召开符合《中华人民共和国公司法》等法 律、行政法规、规范性文件及《上海鸣志电器股份有限公司章程》的规定。 经全体与会董事审议，会议通过如下决议： 一、 审议通过《关于开展外汇衍生品交易业务的议案》 同意公司及子公司在不超过 45,000 万元人民币（或等值外币）的最高余额 范围内开展外汇衍生品交易业务，使用期限自董事会审议通过之日起 12 个月内 有效，额度可滚动循环使用。授权董事长在批准的权限内行使 ...

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： 上海鸣志电器股份有限公司（以下简称"公司"）于 2024 年 03 月 29 日召开 了公司第四届董事会第十七次会议，审议通过了《关于开展外汇衍生品交易业务 的议案》，现将相关事项公告如下： 一、 交易情况概述 证券代码：603728 证券简称：鸣志电器 公告编号：2024-009 上海鸣志电器股份有限公司 关于开展外汇衍生品交易业务的公告 (二) 交易金额 (一) 交易目的 公司业务布局全球市场，公司经营中外币收付汇、外币存贷款金额较大，且 随着公司境外业务的持续拓展，汇率和利率波动对公司经营成果的影响日益增大， 为防范并降低外汇汇率及利率大幅波动对公司经营造成的不利影响，保证外汇衍 生品交易业务的可持续性，公司及子公司拟继续与银行等金融机构适度开展外汇 衍生品交易业务。 公司及子公司开展的外汇衍生品交易业务遵循合法、审慎、安全、有效的原 则，不进行单纯以盈利为目的的投机和套利交易，以规避和防范汇率风险为目的， 不会影响公司主营业务发展。拟开展的外汇衍生品 ...