统联精密（688210） | --- | --- | --- | --- | --- | --- | |------------------------------|--------|---------|----------|----------|----------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 508.64 | 561.72 | 1,003.52 | 1,527.83 | 2,134.93 | | 同比（ % ） | 43.47 | 10.43 | 78.65 | 52.25 | 39.74 | | 归母净利润（百万元） | 94.90 | 58.77 | 171.36 | 271.09 | 403.41 | | 同比（ % ） | 100.06 | (38.07) | 191.57 | 58.20 | 48.81 | | EPS- 最新摊薄（元 / 股） | 0.60 | 0.37 | 1.08 | 1.71 | 2.54 | | P/E （现价 & 最新摊薄） | 31.5 ...

公 司 研 究 2024 年 4 月 30 日 强烈推荐/维持 统联精密 公司报告 2024 年 4 月 26 日，统联精密发布 2024 年一季度报告：公司 2024 年一季度 实现营业收入 1.30 亿元，同比增长 88.03%；扣非归母净利润为 1389.89 万 元，较去年同期增长了 2145.69 万元。 公司持续投入高端产品研发，积极布局人工智能、折叠屏手机、3D 打印等新 兴技术。公司围绕着新材料的应用，建立了多样化的精密制造能力，覆盖 MIM、 CNC 加工、激光加工、线切割、冲压、精密注塑等工艺。在 MIM 精密零部 件业务方面，公司导入了折叠屏铰链相关业务，同时超高强度合金钢-折叠转 轴件 MIM 喂料的技术研发目前已经进入小批量验证应用的阶段，主要应用于 折叠手机的铰链结构件以及个人笔记本电脑。另外，用于智能穿戴零部件的高 强度无抛光 MIM 材料及工艺的研究已经进入小批量验证阶段。公司持续加大 技术研发力度，实现行业、客户的多元化发展。 公司盈利预测及投资评级：公司是 MIM 成长新星，业绩快速增长。我们预计 2024-2026 年 EPS 分别为 0.84，1.06 和 1.51 元 ...

2024 年第一季度报告 证券代码：688210 证券简称：统联精密 深圳市泛海统联精密制造股份有限公司 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、准确性和完整性依法承担法律责任。 重要内容提示 (三)第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (四)主要会计数据和财务指标 单位：元币种：人民币 | 项目 | 本报告期 | 本报告期比上年同 期增减变动幅度(%) | | --- | --- | --- | | 营业收入 | 129,883,899.51 | 88.03 | | 归属于上市公司股东的净利 | 14,672,292.08 | 不适用 | | 润 | | | | 归属于上市公司股东的扣除 | 13,898,883.78 | 不适用 | | 非经常性损益的净利润 | | | | 经营活动产生的现金流量净 | 65,312,513.77 | 10.69 | | 额 | | | 1 / 14 (五)非经常性损益项目和金额 √适用 □不适用 单位:元币种:人民币 | 非经常性损益项目 | 本期金额 | 说明 ...

Shareholder Information - The total number of ordinary shareholders is 158, and the number of preferred shareholders with voting rights is 0[5] - Yang Hu holds 34,443,899 shares, accounting for 21.73% of the total shares[6] - Guangdong Hongtu Venture Capital Management Co., Ltd. holds 11,067,518 shares, representing 6.98% of the total shares[6] - Shenzhen Putian Technology Enterprise (Limited Partnership) holds 10,543,448 shares, which is 6.65% of the total shares[6] - Shenzhen Fan Hai Tong Lian Technology Enterprise (Limited Partnership) holds 8,557,711 shares, accounting for 5.40% of the total shares[6] - Hunan Huazhou Investment Private Fund Management Co., Ltd. holds 6,313,100 shares, representing 3.98% of the total shares[6] - The total number of shares held by the top ten shareholders is 92,000,000 shares, which is approximately 59.00% of the total shares[6] - The company has no shares under pledge or marked status for the top shareholders[6] - The company maintains a strong shareholder base with significant holdings concentrated among a few key investors[6] - The company reported a total of 3,317,403 shares held by the Ruiyuan Stable Allocation Two-Year Holding Period Mixed Securities Investment Fund[7] - The Ruiyuan Growth Value Mixed Securities Investment Fund holds 3,155,822 shares[7] - The company has a total of 2,850,000 shares held by Shu Xiaojing[7] - Tianjin Qingqi Lushi Venture Investment Center holds 2,792,250 shares[7] - The Yiwu Muyuan Asset Management Partnership holds 2,441,397 shares[7] - Zhejiang Yinwan Private Fund Management Company holds 2,271,920 shares[7] - Guojin Innovation Investment Company holds 1,833,489 shares[8] Correction and Apology - The report corrects previous errors in the disclosure of shareholder information[1] - The company issued a correction notice regarding its Q1 2024 report, affecting 2,000,000 shares repurchased[8] - The company expressed apologies for any inconvenience caused to investors due to the correction[9] - The board of directors announced the correction on May 1, 2024[10]

国金证券股份有限公司 关于深圳市泛海统联精密制造股份有限公司 部分募集资金投资项目延期的核查意见 国金证券股份有限公司（以下简称"国金证券"、"保荐机构"）作为深圳 市泛海统联精密制造股份有限公司（以下简称"统联精密"、"公司"）首次公 开发行股票并在科创板上市的持续督导保荐机构，根据《证券发行上市保荐业务 管理办法》《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管 要求》《上海证券交易所科创板股票上市规则》《上海证券交易所科创板上市公 司自律监管指引第 1 号——规范运作》等有关法律法规和规范性文件的要求，对 统联精密部分募集资金投资项目（以下简称"募投项目"）延期事项进行了核查， 具体情况如下： 一、募集资金基本情况 根据中国证券监督管理委员会出具的《关于同意深圳市泛海统联精密制造股 份有限公司首次公开发行股票注册的批复》（证监许可[2021]3470 号），公司获 准向社会公众公开发行人民币普通股（A 股）股票 2,000.00 万股，每股面值 1 元， 发行价格为每股人民币 42.76 元，募集资金总额为人民币 855,200,000.00 元，扣 除各项发行费用（不含税）人民币 82 ...

Financial Performance - In 2023, the company achieved operating revenue of CNY 561.72 million, a year-on-year increase of 10.43%[4] - The company's net profit attributable to shareholders was CNY 58.77 million, a decrease of 38.07% year-on-year, while the net profit excluding non-recurring gains and losses was CNY 52.50 million, down 28.02%[4] - The company's operating revenue for 2023 reached CNY 561,718,790, representing a year-on-year increase of 10.43% compared to CNY 508,643,174 in 2022[28] - The net profit attributable to shareholders for 2023 was CNY 58,771,613.84, a decrease of 38.07% from CNY 94,903,500 in 2022[28] - The company has experienced a significant growth in revenue from CNY 354,533,625 in 2021 to CNY 561,718,790 in 2023, indicating a strong upward trend[28] - The company's gross margin for its main business was 39.90%, a decrease of 2.89 percentage points year-on-year[88] - The company reported a net cash flow from operating activities of 139.01 million yuan, up 6.54% year-on-year[110] Revenue Breakdown - The MIM precision components business generated revenue of CNY 321.19 million, accounting for 57.18% of total sales, remaining stable year-on-year[4] - Non-MIM precision components revenue reached CNY 227.72 million, representing a year-on-year growth of 38.67% and accounting for 40.54% of total sales[4] - In the MIM precision components business, sales revenue was 321.19 million yuan, remaining stable compared to the previous year, while non-MIM precision components revenue increased by 38.67% to 227.72 million yuan[86] Research and Development - The company aims to enhance its process innovation capabilities and increase R&D investment to maintain technological advancement[5] - The company plans to invest in research and development for new functional materials and advanced manufacturing technologies[19] - R&D expenses accounted for 14.71% of operating revenue, an increase of 2.80 percentage points compared to the previous year[30] - Research and development investment reached 82.65 million yuan, a 36.48% increase year-on-year, accounting for 14.71% of total revenue[42] - The company obtained 7 authorized patents during the reporting period, including 5 invention patents and 2 utility model patents[42] - The company is focusing on the development of high-strength non-magnetic high-polishing MIM materials and processes, with increased R&D budgets approved for these projects[74] Strategic Initiatives - The company is implementing a "go out" strategy to expand production capacity overseas and optimize production processes for better operational efficiency[6] - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio[19] - The company aims to leverage its expertise in precision manufacturing to capture new market opportunities in the smart manufacturing sector[19] - The company is focusing on expanding its market presence and enhancing its product offerings through new technology developments[19] Risk Management - The company emphasizes strengthening risk management capabilities to ensure sustainable development amid external uncertainties[7] - The company faces risks related to high customer concentration, as revenue from the top five customers constitutes a significant portion of total sales[82] - The company emphasizes strict control and risk management in its foreign exchange hedging activities to mitigate potential losses from market fluctuations[124] Shareholder Engagement and Governance - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares, totaling CNY 31.31 million, based on a total share capital of 158,532,883 shares[12] - The company held 2 shareholder meetings during the reporting period, adhering to legal and regulatory requirements[141] - The board of directors convened 9 meetings, ensuring compliance with voting procedures and protecting shareholder rights[136] - The company established a comprehensive internal control system, enhancing governance and compliance with updated regulations[136] Market Trends and Opportunities - The global MIM market size is approximately $3.5 billion in both 2022 and 2023, with an expected growth to $5.75 billion by 2027, corresponding to a CAGR of 9.7% from 2023 to 2027[50] - The domestic MIM market sales scale is around 8.43 billion yuan in 2023, projected to recover to approximately 9.39 billion yuan in 2024, and reach about 15.7 billion yuan by 2028, with a CAGR of 13.27% from 2023 to 2028[52][53] - In 2023, the demand from the consumer electronics sector, including smartphones, computers, and smart wearables, accounted for 74.5% of the overall MIM industry demand[55] Employee Development and Welfare - The company is focused on talent acquisition and training to build a high-quality workforce for long-term development[7] - The company has established a multi-level training system to enhance management capabilities and technical skills among employees, focusing on decision-making and strategic development[177] - The company encourages diverse self-learning activities among employees to enhance their management and professional skills, contributing to overall human resource support for development[177] Financial Management - The company has repurchased 2 million shares for a total of CNY 41.95 million, which is 204.55% of the net profit attributable to shareholders[13] - The total amount of cash dividends distributed in 2023, including a previous distribution of 3.00 RMB per 10 shares, amounts to 120,220,223.64 RMB, which represents 204.55% of the net profit attributable to the parent company's shareholders[180] - The company has established strong partnerships with high-profile clients such as Apple, Honor, and Amazon, enhancing its market position and order stability[79] Innovation and Technology - The company is exploring new technologies such as 3D printing and artificial intelligence, which are expected to drive innovation and new product development in the consumer electronics sector[56][57] - The integration of MIM technology with 3D printing is anticipated to enhance design flexibility and improve efficiency in product manufacturing[58] - The company has developed proprietary capabilities in manufacturing feedstock for 316L, 304L, and 17-4PH grades, enhancing efficiency and reusability[59] Corporate Social Responsibility - The company emphasizes sustainable development and social responsibility, integrating ESG principles into its operational strategy[198] - The company actively responds to national dual carbon goals by integrating energy-saving and emission-reduction measures into its management and operations[200] - The company aims to build a stable, efficient, and green supply chain by improving supply chain management and ensuring partners adhere to ethical standards[200]

深圳市泛海统联精密制造股份有限公司 审计报告 天职业字[2024]22497 号 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册会计师对 财务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照中国注册会计师职 业道德守则,我们独立于统联精密,并履行了职业道德方面的其他责任。我们相信,我们获 取的审计证据是充分、适当的，为发表审计意见提供了基础。 目 录 审计报告 -- -1 2023 年度财务报表 -- -6 2023 年度财务报表附注 -- -18 此"。 所出, 审计报告 天职业字[2024]22497 号 深圳市泛海统联精密制造股份有限公司全体股东: 一、审计意见 我们审计了深圳市泛海统联精密制造股份有限公司(以下简称"统联精密")财务报表, 包括 2023 年 12 月 31 日的合并及母公司资产负债表，2023 年度的合并及母公司利润表、合 并及母公司现金流量表、合并及母公司股东权益变动表,以及财务报表附注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公允反映了 统联精密 2023年 12 月 31 日的合并及母公司财务状况以及 2023 年度 ...

证券代码：688210 证券简称：统联精密 公告编号：2024-015 深圳市泛海统联精密制造股份有限公司 关于 2023 年第四季度计提资产减值准备的公告 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、准确性和完整性依法承担法律责任。 一、计提减值准备的情况概述 深圳市泛海统联精密制造股份有限公司（以下简称"公司"）根据《企业会 计准则第 8 号——资产减值》和相关会计政策的规定，结合公司的实际情况，为 客观、公允地反映公司 2023 年 12 月 31 日的财务状况和 2023 年度的经营成果， 经公司及下属子公司对截至 2023 年 12 月 31 日合并范围内可能发生减值的信用 及资产进行了全面且充分的评估和分析，本着谨慎性原则，公司对相关信用及资 产进行了减值测试并计提了相应的减值准备。2023 年前三季度公司已计提各类 信用减值损失及资产减值损失共计人民币 11,169,399.74 元，具体内容详见《关 于 2023 年前三季度计提资产减值准备的公告》（公告编号：2023-069）。2023 年第四季度公司计提各类信用及资产减值损失共计 1 ...

深圳市泛海统联精密制造股份有限公司 董事会审计委员会对会计师事务所 2023 年度履职情况 履行监督职责情况的报告 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 治理准则》《国有企业、上市公司选聘会计师事务所管理办法》和深圳市泛 海统联精密制造股份有限公司（以下简称"公司"）的《公司章程》《董事 会审计委员会议事规则》等规定和要求，董事会审计委员会本着勤勉尽责的 原则，恪尽职守，认真履职。现将董事会审计委员会对会计师事务所 2023 年 度履职履行监督职责的情况汇报如下： 一、2023 年年审会计师事务所基本情况 （一）会计师事务所基本情况 天职国际会计师事务所（特殊普通合伙）（以下简称"天职国际"）创 立于 1988 年 12 月，总部设于北京，是一家专注于审计鉴证、资本市场服 务、管理咨询、政务咨询、税务服务、法务与清算、信息技术咨询、工程咨 询、企业估值的特大型综合性咨询机构。 天职国际首席合伙人为邱靖之，注册地址为北京市海淀区车公庄西路 19 号 68 号楼 A-1 和 A-5 区域，组织形式为特殊普通合伙。 天职国际已取得北京市财政局颁发的执业证书，是中国首批获得证券期 货相关业务 ...

证券代码：688210 证券简称：统联精密 公告编号：2024-013 深圳市泛海统联精密制造股份有限公司 第二届监事会第六次会议决议公告 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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 深圳市泛海统联精密制造股份有限公司（以下简称"公司"）第二届监事会 第六次会议（以下简称"本次会议"）通知于 2024 年 4 月 15 日以电子邮件方式 发出，会议于 2024 年 4 月 25 日以现场结合通讯方式在公司会议室召开。本次会 议由监事会主席陈宏亮先生主持，应出席监事 3 名，实际出席监事 3 名，其中喻 立杰先生以通讯表决方式出席本次会议。本次会议的召集和召开程序符合有关法 律、行政法规、部门规章、规范性文件和《深圳市泛海统联精密制造股份有限公 司章程》（以下简称《公司章程》）的有关规定。 二、监事会会议审议情况 与会监事对本次会议需审议的议案进行了充分讨论，审议通过了以下议案： （二）审议通过《关于<2023 年年度报告>及其摘要的议案》 公司根据《上海证券交易所科创板上市公司自律监管指引第 1 ...