在上市公司本次股票交易异常波动期间,本人不存在买卖上市公司股票的情 形。 《关于江苏国茂减速机股份有限公司股票交易异常波动的问询函》之回复 致：江苏国茂减速机股份有限公司 贵司《关于江苏国茂减速机股份有限公司股票交易异常波动的问询函》已知 悉,经认真核实,现回复如下; 徐国忠、徐彬、沈惠萍作为江苏国茂减速机股份有限公司（以下简称"上市 公司"）的实际控制人，徐玲作为实际控制人的一致行动人，截至目前，均不存 在涉及上市公司的应披露而未披露的重大事项，包括但不限于重大资产重组、股 份发行、重大交易类事项、业务重组、股份回购、股权激励、破产重整、重大业 务合作、引进战略投资者等。 特此回复。 (以下无正文) （本页无正文，为《<关于江苏国茂减速机股份有限公司股票交易异常波动 的问询函>之回复》的签署页 ) 实际控制人及一致行动人: 徐国忠 沈惠萍 徐 彬 徐 玲 20 25 年 ２ 月 25 日 《关于江苏国茂减速机股份有限公司股票交易异常波动的问询函》之回复 致:江苏国茂减速机股份有限公司 贵司《关于江苏国茂减速机股份有限公司股票交易异常波动的问询函》已知 悉,经认真核实,现回复如下: 本公司作为江苏国茂减速机股 ...

Group 1 - The stock of Guomao Co., Ltd. has hit the daily limit up and has recorded three consecutive limit-up days, with the latest price at 14.01 yuan and a turnover rate of 3.69% [1] - During the consecutive limit-up period, the stock has accumulated a total increase of 33.05% and a cumulative turnover rate of 11.20% [2] - As of November 20, the total market capitalization of A-shares reached 9.234 billion yuan, with a circulating market capitalization of 9.199 billion yuan [3] Group 2 - The latest margin trading data shows that the margin balance for the stock is 123 million yuan, with a financing balance of 122 million yuan, which increased by 28.74 million yuan compared to the previous trading day, reflecting a growth of 30.90% [3] - Over the past three days, the margin balance has increased by 25.44 million yuan, representing a growth of 26.43% [3] - The stock has appeared on the Dragon and Tiger List due to a cumulative price deviation of 20% over three consecutive trading days, with institutional investors net selling 18.23 million yuan and the Shanghai Stock Connect net selling 14.51 million yuan [3]

《关于江苏国茂减速机股份有限公司股票交易异常波动的问询函》之回复 致:江苏国茂减速机股份有限公司 贵司《关于江苏国茂减速机股份有限公司股票交易异常波动的问询函》已知 悉,经认真核实,现回复如下: 徐国忠、徐彬、沈惠萍作为江苏国茂减速机股份有限公司（以下简称"上市 公司"）的实际控制人,徐玲作为实际控制人的一致行动人,截至目前,均不存 在涉及上市公司的应披露而未披露的重大事项,包括但不限于重大资产重组、股 份发行、重大交易类事项、业务重组、股份回购、股权激励、破产重整、重大业 务合作、引进战略投资者等。 在上市公司本次股票交易异常波动期间,本人不存在买卖上市公司股票的情 形。 特此回复。 (以下无正文) （本页无正文，为《<关于江苏国茂减速机股份有限公司股票交易异常波动 的问询函>之回复》的签署页 ) 实际控制人及一致行动人: 徐国忠 沈惠萍 徐 彬 徐 玲 ~24年 11月22日 《关于江苏国茂减速机股份有限公司股票交易异常波动的问询函》之回复 在上市公司本次股票交易异常波动期间,本公司不存在买卖上市公司股票的 情形。 特此回复。 (以下无正文) (本页无正文,为《<关于江苏国茂减速机股份有限公司股票交易异常 ...

证券代码：603915 证券简称：国茂股份 公告编号：2024-036 江苏国茂减速机股份有限公司 股票交易异常波动公告 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： ● 江苏国茂减速机股份有限公司（以下简称"公司"）股票价格于 2024 年 11 月 18 日、11 月 19 日、11 月 20 日连续三个交易日内日收盘价格涨幅偏离值累计 达到 20%。根据《上海证券交易所交易规则》的相关规定，属于股票交易异常波 动情形。 ● 经公司自查并书面征询公司控股股东及实际控制人，截至本公告披露日， 除公司已披露事项外，不存在应披露而未披露的重大信息。 一、股票交易异常波动的具体情况 公司股票价格于 2024 年 11 月 18 日、11 月 19 日、11 月 20 日连续三个交易 日内日收盘价格涨幅偏离值累计达到 20%。根据《上海证券交易所交易规则》的 相关规定，属于股票交易异常波动情形。 二、公司关注并核实的相关情况 根据上海证券交易所相关规定，公司对相关问题进行了必要核实。现说明如 下： （一）生产经营情 ...

Investment Rating - The investment rating for Guomao Co., Ltd. is "Buy" and is maintained [3][6]. Core Views - The company's performance is under short-term pressure due to weaker demand and intense price competition in the reducer market. However, the long-term outlook remains positive as the company is expanding its product lines in general, specialized, and high-end reducers, which solidifies its growth trajectory [3][6]. - In Q3 2024, the company's revenue was 659 million yuan, a year-on-year decrease of 1.94%, while the net profit attributable to shareholders was 62 million yuan, down 34.40% year-on-year. The gross margin for Q3 was 21.66%, a decline of 3.91 percentage points year-on-year [3][4]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported revenue of 1.927 billion yuan, a decrease of 4.17% year-on-year, and a net profit of 209 million yuan, down 21.68% year-on-year. The net profit excluding non-recurring items was 177 million yuan, a decline of 27.38% year-on-year [3][4]. - In Q3 2024, the company experienced a revenue of 659 million yuan, a decrease of 1.94% year-on-year, and a net profit of 62 million yuan, down 34.40% year-on-year. The net profit excluding non-recurring items was 54 million yuan, a decline of 38.92% year-on-year [3][4]. Market Position and Strategy - The company is a leading player in the domestic general reducer market, with a market share expected to continue increasing. In the first half of 2024, the company's reducer sales (excluding Modoli products) grew approximately 4.23% year-on-year [3][5]. - The company is focusing on structural market opportunities in downstream sectors and has begun to establish a platform-based business layout. This includes advancements in general reducers, specialized/high-end reducers, and precision gearboxes [5][6]. Future Outlook - The manufacturing PMI reached 50.1 in October, indicating a marginal improvement and entering the expansion zone, suggesting that manufacturing demand is expected to gradually recover [3][5]. - The company anticipates achieving net profits attributable to shareholders of 309 million, 410 million, and 491 million yuan for the years 2024, 2025, and 2026, respectively, with corresponding price-to-earnings ratios of 20x, 15x, and 13x [6].

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company's performance is under short-term pressure due to market competition and product price declines, leading to a significant drop in profitability [2][3] - The company is a leading domestic reducer manufacturer, with a platform-based layout that opens up growth opportunities in specialized and mechatronic fields [4] Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 1.927 billion, down 4.17% year-on-year, and a net profit attributable to shareholders of 209 million, down 21.68% year-on-year [2] - The gross profit margin for the first three quarters of 2024 was 22.89%, a decrease of 3.28 percentage points year-on-year, with a further decline in Q3 to 21.66% [3] - The net profit margin for Q3 2024 was 9.79%, down 4.18 percentage points year-on-year, primarily due to the decline in gross margin and increased asset impairment losses [3] Earnings Forecast and Valuation - The report revises the company's net profit forecasts for 2024-2026 to 314 million (previously 495 million), 421 million (previously 563 million), and 490 million (previously 648 million) respectively [4] - The current stock price corresponds to dynamic P/E ratios of 21, 15, and 13 times for 2024, 2025, and 2026 respectively [4]

证券代码：603915 证券简称：国茂股份 公告编号：2024-034 江苏国茂减速机股份有限公司 （二）审议通过了《关于制定<公司舆情管理制度>的议案》 二、董事会会议审议情况 第三届董事会第八次会议决议公告 本次董事会会议形成了如下决议： （一）审议通过了《公司 2024 年第三季度报告》 公司 2024 年第三季度报告详见公司同日披露于上海证券交易所网站 （www.sse.com.cn）的《江苏国茂减速机股份有限公司 2024 年第三季度报告》。 本议案在提交董事会前已经董事会审计委员会审议通过。 表决结果：7 票同意，0 票反对，0 票弃权。 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、董事会会议召开情况 江苏国茂减速机股份有限公司（简称"公司"）第三届董事会第八次会议于 2024 年 10 月 24 日以通讯方式发出通知，并于 2024 年 10 月 29 日以通讯方式召 开。会议应出席董事 7 人，实际出席会议的董事 7 人。会议由董事长徐国忠先生 主持。本次董事会会议的召集、召开和表决程序符合有关法律、行 ...

江苏国茂减速机股份有限公司 舆情管理制度 第一章 总则 第一条 为了提高江苏国茂减速机股份有限公司（以下简称"公司"）应对各类 舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公司股 票及其衍生品种的价格、公司商业信誉及正常生产经营活动造成的影响，切实保 护投资者合法权益，根据《上海证券交易所股票上市规则》等相关法律、法规和 规范性文件的规定及《江苏国茂减速机股份有限公司章程》（以下简称"《公司 章程》"），结合公司实际情况，制订本制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道、不实报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （三）可能或者已经影响社会公众投资者投资取向，造成公司股票及其衍生 品种价格异常波动的信息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较 大影响的事件信息。 第二章 舆情管理的组织体系及其工作职责 第三条 公司应对各类舆情实行统一领导、统一组织、快速反应、协同应对。 第四条 公司成立应对舆情管理工作领导小组（以下简称"舆情工作组"），由 公司董事长任组长，董事会秘书担任副组长，成员由公 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥658,998,195.38, representing a decrease of 1.94% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥62,277,383.66, down 34.40% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥53,881,253.62, a decline of 38.92% compared to the previous year[2]. - The basic earnings per share for Q3 2024 was ¥0.09, reflecting a decrease of 40.00% year-on-year[4]. - The diluted earnings per share for Q3 2024 was also ¥0.09, down 40.00% from the same period last year[4]. - The weighted average return on equity decreased by 0.98 percentage points to 1.75% for Q3 2024[4]. - Total operating revenue for the first three quarters of 2024 was CNY 1,926,978,761.76, a decrease of 4.15% compared to CNY 2,010,818,725.82 in the same period of 2023[17]. - Net profit for the first three quarters of 2024 was CNY 238,390,658.78, down from CNY 290,555,102.72 in the same period of 2023[17]. - The net profit for the third quarter of 2024 was CNY 210,976,809.59, a decrease of 20.2% compared to CNY 264,434,809.69 in the same period of 2023[18]. - The total profit for the third quarter was CNY 240,595,883.94, down from CNY 292,570,684.93, reflecting a decline of 17.8% year-over-year[18]. Assets and Liabilities - Total assets at the end of Q3 2024 amounted to ¥5,243,952,821.33, an increase of 4.59% compared to the end of the previous year[4]. - Total assets increased to CNY 5,243,952,821.33, up from CNY 5,013,784,332.71 year-over-year[16]. - Total liabilities rose to CNY 1,594,193,895.40, compared to CNY 1,416,489,944.82 in the previous year[16]. - Current liabilities totaled CNY 1,505,611,998.35, an increase from CNY 1,347,065,743.00 in the same period last year[16]. - Non-current assets increased to CNY 1,794,042,466.12, up from CNY 1,639,629,912.45 year-over-year[16]. Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 94.15% to ¥325,368,768.51[2]. - Operating cash flow for the first nine months of 2024 was CNY 2,049,882,931.51, an increase of 14.6% from CNY 1,789,031,694.85 in the same period of 2023[20]. - The company reported a net cash outflow from investing activities of CNY -349,425,594.56 for the first nine months of 2024, compared to CNY -347,270,355.79 in the previous year[21]. - The cash and cash equivalents at the end of the third quarter were CNY 502,702,907.44, down from CNY 617,698,763.13 at the end of the same period in 2023[21]. - The company reported a significant increase in cash outflows for operating activities, totaling CNY 1,724,514,163.00, compared to CNY 1,621,446,611.15 in the same period of 2023[20]. Shareholder Information - The total number of shares held by the largest shareholder, Guomao Reducer Group Co., Ltd., is 333,760,000, representing 50.64% of total shares[10]. - The company reported no pledged or frozen shares among its major shareholders, indicating a stable ownership structure[10]. - The top ten shareholders collectively hold 99.99% of the total shares, with no significant changes in their holdings reported[12]. - The company has not engaged in any financing or securities lending activities among its top shareholders during the reporting period[12]. Operational Insights - The decline in net profit was mainly attributed to a decrease in product prices, leading to a lower gross margin[7]. - As of September 30, 2024, the company's current assets totaled approximately RMB 1.4 billion, with cash and cash equivalents at RMB 515.67 million, down from RMB 696.03 million at the end of 2023[14]. - Accounts receivable increased to RMB 420.91 million from RMB 257.24 million, indicating a significant rise in credit sales[14]. - Inventory levels rose to RMB 662.35 million, compared to RMB 544.94 million at the end of 2023, reflecting increased production or stockpiling[14]. - The company's financial assets held for trading increased to RMB 1.4 billion from RMB 1.2 billion, showing a growth in investment activities[14]. Research and Development - Research and development expenses amounted to CNY 86,641,388.18, a decrease of 8.73% from CNY 95,208,921.20 in the same period last year[17]. - The report indicates that there are no new strategies or significant changes in market expansion plans for the upcoming quarter[13]. - The company has not disclosed any new product developments or technological advancements in this reporting period[13].

关于召开 2024 年第三季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。 重要内容提示： 会议召开时间：2024 年 11 月 13 日(星期三)下午 13:00-14:00 证券代码：603915 证券简称：国茂股份 公告编号：2024-035 江苏国茂减速机股份有限公司 会 议 召 开 地 点 ： 上海证券 交易所上证路演中心（ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 11 月 06 日(星期三)至 11 月 12 日(星期二)16:00 前登 录 上 证 路 演 中 心 网 站 首 页 ， 点 击 " 提 问 预 征 集 " 栏 目 （https://roadshow.sseinfo.com/questionCollection.do），根据活动时间， 选中本次活动进行提问，或通过江苏国茂减速机股份有限公司（以下简称"公司"） 邮箱（contact@guomaoreducer.com）向公司提问，公司将在 ...