证券代码：603977 证券简称：国泰集团 公告编号：2025 临 013 号 江西国泰集团股份有限公司 关于召开 2024 年年度股东大会的通知 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： 一、 召开会议的基本情况 2024 年年度股东大会 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票 相结合的方式 (四) 现场会议召开的日期、时间和地点 (一) 股东大会类型和届次 召开的日期时间：2025 年 5 月 9 日 14 点 30 分 召开地点：南昌高新开发区高新大道 699 号公司 24 楼会议室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 5 月 9 日至 2025 年 5 月 9 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 股东大会召 ...

证券代码：603977 证券简称：国泰集团 编号：2025 临 008 号 江西国泰集团股份有限公司 第六届监事会第九次会议决议公告 本公司监事会及全体监事保证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、准确和完整承担个别及连带责任。 一、监事会会议召开情况 江西国泰集团股份有限公司（以下简称"公司"）第六届监事会第九次会议于 2025 年 4 月 16 日 11:00 在公司会议室以现场会议的方式召开。会议由监事会召集 人李夙先生召集并主持，会议应出席监事 4 名，实际出席监事 4 名。本次会议的召 集、召开和表决程序符合《中华人民共和国公司法》和《江西国泰集团股份有限公 司章程》等有关规定，合法有效。 二、监事会会议审议情况 会议审议并通过了以下议案，并形成了决议： （一）审议通过了《2024 年度监事会工作报告》 表决结果：同意 4 票，反对 0 票，弃权 0 票。 本议案尚需提交公司股东大会审议。 （二）审议通过了《2024 年度财务决算报告及 2025 年度财务预算报告》 表决结果：同意 4 票，反对 0 票，弃权 0 票。 本议案尚需提交公司股东大会审议。 （三）审议通过了 ...

证券代码：603977 证券简称：国泰集团 编号：2025 临 007 号 江西国泰集团股份有限公司 第六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、准确和完整承担个别及连带责任。 一、董事会会议召开情况 江西国泰集团股份有限公司（以下简称"公司"）第六届董事会第十七次会议 于 2025 年 4 月 16 日上午 9:00 在公司会议室以现场会议的方式召开。会议由副董事 长洪余和先生召集并主持，会议应出席董事 6 名，实际出席董事 6 名，公司监事、 高级管理人员列席了本次会议。本次会议的召集、召开和表决程序符合《中华人民 共和国公司法》和《江西国泰集团股份有限公司章程》等有关规定，合法有效。 二、董事会会议审议情况 会议审议并通过了以下议案，并形成了决议： （一）审议通过了《2024 年度总经理工作报告》 （三）审议通过了《2024 年度财务决算及 2025 年度财务预算报告》 表决结果：同意 6 票，反对 0 票，弃权 0 票。 本议案尚需提交公司股东大会审议。 （四）审议通过了《2024 年度利润分配预案》 表决结果：同意 ...

2024 年度利润分配预案公告 本公司董事会及全体董事保证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、准确和完整承担个别及连带责任。 重要内容提示： 每股分配比例：A股每股派发现金红利0.09元（含税）。 本次利润分配以实施权益分派股权登记日总股本为基数，具体日期将在 权益分派实施公告中明确。 如在实施权益分派的股权登记日前江西国泰集团股份有限公司（以下简 称"公司"或"国泰集团"）可参与权益分派的总股本发生变动的，拟维持每股 分配比例不变，相应调整分配总额，并将另行公告具体调整情况。 证券代码：603977 证券简称：国泰集团 编号：2025 临 009 号 江西国泰集团股份有限公司 二、公司履行的决策程序 （一）董事会会议的召开、审议和表决情况 公司于 2025 年 4 月 16 日召开第六届董事会第十七次会议审议通过了《2024 年度利润分配预案》，本预案符合公司章程规定的利润分配政策。 公司未触及《上海证券交易所股票上市规则》第9.8.1条第一款第（八） 项规定的可能被实施其他风险警示的情形。 一、利润分配方案内容 （一）利润分配方案的具体内容 经大信会计师事务所（特殊普通合伙 ...

Financial Performance - The net profit attributable to shareholders for 2024 is CNY 180,745,654.89, with the parent company achieving a net profit of CNY 203,294,893.38[6]. - The total undistributed profits of the parent company at the end of the reporting period amount to CNY 713,631,571.72[6]. - The proposed cash dividend distribution is CNY 0.90 per 10 shares, totaling CNY 55,911,764.52, which represents 30.93% of the net profit attributable to shareholders[6]. - The company's operating revenue for 2024 was CNY 2,354,492,849.08, a decrease of 7.34% compared to CNY 2,541,006,874.75 in 2023[21]. - The net profit attributable to shareholders for 2024 was CNY 180,745,654.89, down 40.84% from CNY 305,540,173.72 in 2023[21]. - The basic earnings per share for 2024 was CNY 0.29, a decline of 40.82% compared to CNY 0.49 in 2023[23]. - The net cash flow from operating activities for 2024 was CNY 266,933,220.89, a decrease of 28.15% from CNY 371,538,216.51 in 2023[21]. - The weighted average return on equity for 2024 was 5.71%, down 4.52 percentage points from 10.23% in 2023[23]. - The net profit attributable to shareholders for the fourth quarter of 2024 was negative at CNY -37,776,786.74, indicating a significant decline in performance during that period[27]. Asset and Investment Overview - Total assets at the end of 2024 were CNY 5,686,552,636.81, reflecting a 5.18% increase from CNY 5,406,373,578.47 at the end of 2023[21]. - As of the reporting period, the company's total assets reached 5.687 billion yuan, an increase of 5.18% year-over-year, while net assets grew by 3.05% to 3.683 billion yuan[32]. - The company achieved total revenue of CNY 2,354.49 million, a decrease of 7.34% compared to the previous year[63]. - Total assets increased by 5.18% to CNY 5,686.55 million, while net assets grew by 3.05% to CNY 3,682.94 million[63]. Business Segment Performance - The integrated civil explosives business generated revenue of 1.64558 billion yuan, while military new materials and rail transit automation businesses reported revenues of 268.5938 million yuan and 144.5917 million yuan, respectively[32]. - Revenue from the integrated civil explosives segment was CNY 1,645.58 million, down 5.70% year-on-year[63]. - The military new materials segment saw revenue growth of 55.21%, reaching CNY 268.59 million[63]. - Revenue from the rail transit automation and information segment declined by 40.55% to CNY 144.59 million[63]. Research and Development - The company has 25 high-tech enterprises and 24 small and medium-sized technology enterprises registered, showcasing its strong R&D capabilities[57]. - The company holds a total of 654 patents, including 135 invention patents and 496 software copyrights[58]. - The company’s R&D investment for 2024 is CNY 138.39 million, accounting for 5.88% of total revenue[79]. - The company has made significant progress in R&D, including the development of new electronic detonators and special explosives, with several projects entering the research phase[95]. - The company is focused on developing core products in smart governance and safety monitoring, leveraging AI and big data to enhance product performance and customer engagement[135]. Environmental and Safety Initiatives - The company’s safety and environmental management initiatives led to the establishment of a digital safety supervision platform and the achievement of "zero" wastewater discharge goals in its production facilities[37]. - The company invested approximately 19.99 million yuan in environmental protection during the reporting period[194]. - The company has implemented a comprehensive wastewater treatment system that includes various treatment processes to ensure compliance with discharge standards[200]. - The company emphasizes safety production and product quality, adhering to a safety-first philosophy and complying with national safety regulations to enhance its inherent safety levels[137]. Governance and Management - The company has established clear responsibilities among its power, decision-making, supervisory, and management bodies[147]. - The company received the "Outstanding Board Award" at the 19th China Listed Company Board of Directors Awards, highlighting its commitment to governance and investor relations[145]. - The company has organized two shareholder meetings in 2024 to make decisions on significant matters, ensuring compliance with regulations and protecting shareholder rights[143]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to CNY 703.56 million[151]. Market and Industry Trends - In 2024, the civil explosives industry achieved a total revenue of 45.067 billion yuan, a year-on-year decrease of 9.33%[40]. - The total profit for the civil explosives industry in 2024 was 9.639 billion yuan, reflecting a year-on-year increase of 13.04%[40]. - The civil explosives industry is expected to see the top ten companies' production value increase from 49% in 2020 to over 60% by the end of 2025[39]. - The military new materials market in China surpassed 104.17 billion yuan in 2021 and is expected to continue rapid growth in the coming years[45]. Future Outlook and Strategic Plans - The company plans to complete the relocation project of its subsidiary by September 2025, which will affect the production line and fixed assets[21]. - The company aims to enhance its integrated civil explosives services and increase production capacity through the development of on-site mixed loading projects[134]. - The company plans to increase R&D investment in military new materials, focusing on high-value-added products to improve unit product gross margins[134]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million RMB allocated for potential deals[152].

国泰集团（603977）公告，2024年营业收入23.54亿元，同比下降7.34%。归属于上市公司股东的净利润 1.81亿元，同比下降40.84%。拟以实施权益分派股权登记日登记的总股本为基数，向可参与分配的股东 每10股派发现金红利0.9元(含税)，不转股、不送股，剩余未分配利润结转以后年度分配。 ...

国泰顾客及商务总裁刘凯诗表示："我们很高兴在今年夏季将内地的客运航点数量增至20个，并增加多 个受欢迎航点的航班班次。国泰植根香港、背靠祖国、联通世界，我们致力为所有往返香港，及经香港 枢纽转机的旅客提供无缝的旅游体验。" 国泰集团重点布局京津冀、长三角两大国家战略区域，不断加大运力投放力度，精心编排航班时刻，确 保在北京和上海实现"全天候、高频次"的便捷出行服务。与此同时，国泰集团在其他重点城市也进一步 增加航班频次，充分满足庞大的休闲及商务出行需求。 《中国民航报》、中国民航网 记者郑雪 报道：自今年夏秋航季起，国泰集团将全面提升往来内地与香 港的航班运力。今夏高峰期间，国泰集团每周将运营近300个往来香港与内地的航班，航班量较2024年 同期增长近40%，进一步巩固香港、内地与全球各地的联系，推动经贸互通与文化交流。 记者了解到，今年夏秋航季，国泰航空往返北京首都国际机场的航班将增至每日7班，连同香港快运每 日1个往返北京大兴国际机场的航班，国泰集团每周将提供56个航班往来香港与北京两大国际机场。往 返上海浦东国际机场的航班将增至每日8班，连同每周11班往返上海虹桥国际机场，国泰航空每周将运 营67个航 ...

Investment Rating - The report gives a "Buy" rating for Guotai Group (603977) with a target price not specified [7] Core Views - Guotai Group is a regional leader in the civil explosives industry, with a diversified layout that includes military new materials and rail transit automation, forming a "one body, two wings" development pattern [1][15] - The company has shown stable profitability despite a slight decline in revenue and net profit in the first three quarters of 2024, with expectations for recovery driven by increasing downstream demand and breakthroughs in military new materials [2][25] - The military expenditure budget for 2024 is set at 1,665.54 billion yuan, reflecting a 7.2% year-on-year increase, which is expected to boost demand for military equipment and related products [3][33] Summary by Sections 1. Regional Leader in Civil Explosives - Guotai Group focuses on integrated civil explosives, including industrial explosives and blasting services, while actively expanding into military new materials and rail transit automation [1][15] - As the only civil explosive production enterprise in Jiangxi Province, the company holds a significant market advantage [1][15] 2. Focus on Civil Explosives Main Business - In the first three quarters of 2024, the company achieved revenue of 1.704 billion yuan, a decrease of 5.92% year-on-year, and a net profit of 219 million yuan, down 3.16% [2][25] - From 2021 to 2023, the company's revenue grew from 1.988 billion yuan to 2.541 billion yuan, with a CAGR of 13.06% [2][25] - The company expects revenue and net profit to recover as downstream demand increases and military new materials achieve significant breakthroughs [2][25] 3. Multi-Dimensional Layout in Military Products - The military budget growth is expected to enhance demand for military equipment, benefiting the company [3][33] - Guotai Group is investing 340 million yuan to build a new production line for energetic materials, with an expected annual capacity of 3,000 to 4,300 tons [3][39] - The company’s military new materials business is anticipated to benefit from the increasing proportion of equipment expenditure in the military budget [3][40] 4. Industry Supply-Side Concentration and Infrastructure Projects - The civil explosives industry is experiencing a steady improvement, with supply-side concentration increasing [4][50] - The construction of the Gan-Yue Canal, a strategic project in Jiangxi Province, is expected to significantly boost downstream demand for civil explosives [4][54] - The company’s production capacity utilization is improving, with a strong sales performance in industrial explosives and electronic detonators [4][54]

公司报告 | 首次覆盖报告 国泰集团（603977） 证券研究报告 区域民爆龙头多元化布局，下游需求牵引助力腾飞 区域龙头深耕民爆产业，一体两翼多元化布局促增长 国泰集团以民爆一体化为核心业务，涵盖工业炸药、工业雷管及爆破工程等，同 时积极拓展军工新材料和轨交自动化及信息化产业，形成了"一体两翼"的发展 格局。公司作为江西省唯一的民爆生产企业，公司在区域内具有显著的市场优势， 其产品广泛应用于矿山开采、基础设施建设等领域。公司外延军工新材料产业加快 发展，军工业务由多个控股子公司开展，在军工领域多点布局，着力打造公司发展 新支柱。 聚焦民爆主业，盈利能力较为稳定 2024 年前三季度公司实现营收 17.04 亿元，同比减少 5.92%；实现归母净利润 2.19 亿元，同比减少 3.16%，主要系民爆产品单价下滑等多因素影响。2021 年至 2023 年公司营业收入从 19.88 亿元增长至 25.41 亿元，CAGR 达 13.06%，整体呈现稳步 增长态势。我们认为，伴随未来下游需求的逐步提升，公司营业收入和归母净利 润有望回暖，且 2024 年 H1民爆产品销量平稳，军工新材料等业务取得重大突破， 公司的 ...

本次交易完成后，公司持有宏泰物流 45%的股权，宏泰物流仍为公司控 股子公司。 证券代码：603977 证券简称：国泰集团 编号：2025 临 006 号 江西国泰集团股份有限公司 关于放弃控股子公司江西宏泰物流有限公司 部分股权优先受让权的公告 本公司董事会及全体董事保证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、准确和完整承担个别及连带责任。 重要内容提示: 江西宏泰物流有限公司（以下简称"宏泰物流"）注册资本为 344,660,954.33 元，其中，江西国泰集团股份有限公司（以下简称"公司"） 全资子公司江西恒合投资发展有限公司（以下简称"恒合投资"）实缴出资 155,097,429.45 元，占比 45%；自然人股东潘忠华实缴出资 113,738,114.93 元， 占比 33%；自然人股东张艺博实缴出资 75,825,409.95 元，占比 22%。 自然人陈祎灵拟以人民币 75,825,409.95 元受让自然人股东张艺博持有 的宏泰物流 22%的股权，公司放弃本次交易的优先受让权。 一、交易概述 （一）宏泰物流注册资本为 344,660,954.33 元，其中，恒合投资 ...