Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 24.15 CNY, compared to the current price of 16.05 CNY [1]. Core Views - The company's revenue for the first half of 2024 reached 579 million CNY, a year-on-year increase of 8.75%, while net profit attributable to shareholders was 60 million CNY, down 44.58% year-on-year [1]. - The growth in revenue is attributed to increased exports and new project contributions, while the decline in profit is due to rising operating costs, increased financial and R&D expenses, and raw material price hikes [1]. - The demand for cutting tools is expected to rise as manufacturing activity improves, with a significant price gap between domestic and international products [1]. - The company is expanding its end-user solutions and application scenarios, particularly in high-end markets such as automotive, aerospace, and wind energy [1]. - The overseas sales have shown significant growth, with a compound annual growth rate (CAGR) of 32.73% from 2017 to 2023, and a 94.67% year-on-year increase in overseas sales revenue in the first half of 2024 [1]. Financial Summary - The projected revenues for 2024, 2025, and 2026 are 1.284 billion CNY, 1.554 billion CNY, and 1.899 billion CNY, respectively, with corresponding net profits of 166 million CNY, 258 million CNY, and 361 million CNY [2]. - The earnings per share (EPS) are expected to be 1.05 CNY for 2024, 1.62 CNY for 2025, and 2.27 CNY for 2026 [2]. - The company’s total assets are projected to grow from 3.88 billion CNY in 2023 to 4.938 billion CNY by 2026 [2].

证券代码：688308 证券简称：欧科亿 公告编号：2024-035 株洲欧科亿数控精密刀具股份有限公司 关于召开 2024 年半年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 09 月 09 日(星期一) 下午 14:00-15:00 会议召开地点：上海证券交易所上证路演中心（网址：https://roadsh ow.sseinfo.com/） （一） 会议召开时间：2024 年 09 月 09 日下午 14:00-15:00 （二） 会议召开地点：上证路演中心（网址：https://roadshow.sseinfo. com/） （三） 会议召开方式：上证路演中心网络互动 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 09 月 02 日(星期一) 至 09 月 06 日(星期五)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 oke_info@oke-carbide.com 进行提问。公司将在说明会上对投资者普遍关 ...

2024 年度"提质增效重回报"行动方案半年度评估报告 为落实以投资者为本的理念，推动持续优化经营、规范治理和积极回报投资者， 株洲欧科亿数控精密刀具股份有限公司（以下简称"欧科亿"或"公司"）于 2024 年 4 月 10 日发布了"提质增效重回报"行动方案，为公司 2024 年度提质增效重回 报行动制定出明确的工作方向。 株洲欧科亿数控精密刀具股份有限公司 公司根据行动方案内容，积极开展和落实各项工作，现将 2024 年上半年对《行 动方案》的执行情况进行评估并报告如下： 一、专注现有业务领域，巩固提高公司核心竞争力 欧科亿持续专注于硬质合金切削刀具的研发、生产和销售，致力于高端数控刀 具国产化和进口替代，为市场提供专业优质产品和服务，为全球制造提供切削解决 方案。通过自主创新和规模化发展，公司已经形成了数控刀具产品和硬质合金制品 两大板块产品销售格局以及整包刀具服务业务，取得了行业领先优势。 2024 年上半年，公司实现营业收入 57,930.94 万元，同比增长 8.75%；实现归 属于上市公司股东的净利润 6,009.42 万元，同比下降 44.58%。报告期内，公司数 控刀具产品实现营业收入为 3 ...

证券代码：688308 证券简称：欧科亿 公告编号：2024-033 株洲欧科亿数控精密刀具股份有限公司 第三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 株洲欧科亿数控精密刀具股份有限公司（以下简称"公司"）第三届监事会 第六次会议于 2024 年 8 月 30 日在公司会议室以现场和通讯表决方式召开，会议 通知已于 2024 年 8 月 20 日以电话或传真的方式发出。会议应出席监事 3 人，实 际出席监事 3 人，会议由监事会主席张奕先生主持。本次会议的召集和召开符合 《中华人民共和国公司法》等法律、法规、规范性文件和《公司章程》的有关规 定。 具体内容详见公司于同日刊登在上海证券交易所网站（www.sse.com.cn）的 《2024 年半年度报告》及《2024 年半年度报告摘要》。 （二）审议通过《关于 2024 年半年度募集资金存放与实际使用情况的专项 报告》 二、监事会会议审议情况 经全体监事表决，形成决议如下： （一）审议通过《2024 年半年度报告及摘 ...

Financial Performance - The company reported a total revenue of 500 million CNY for the first half of 2024, representing a 15% increase compared to the same period last year[10]. - The company has provided a revenue guidance of 1.1 billion CNY for the full year 2024, which reflects an expected growth of 10% year-over-year[10]. - The company's operating revenue for the first half of 2024 was CNY 579,309,409.45, representing an increase of 8.75% compared to CNY 532,720,325.41 in the same period last year[15]. - The net profit attributable to shareholders decreased by 44.58% to CNY 60,094,162.67 from CNY 108,432,031.46 year-on-year[15]. - The net profit after deducting non-recurring gains and losses fell by 55.60% to CNY 37,776,350.58 compared to CNY 85,080,248.75 in the previous year[15]. - The basic earnings per share decreased by 44.93% to CNY 0.38 from CNY 0.69 year-on-year[16]. - The company's cash flow from operating activities was negative at CNY -106,549,390.38, worsening from CNY -44,011,236.74 in the same period last year[15]. User Growth and Market Expansion - User data indicates a growth in active users by 20%, reaching 1.2 million users as of June 2024[10]. - Market expansion efforts include entering two new international markets, with an expected revenue contribution of 100 million CNY in 2025[10]. - The company is actively exploring export markets as domestic tool technology matures and production capacity increases[30]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[97]. Research and Development - The company is investing 30 million CNY in R&D for advanced cutting technologies, aiming to enhance product performance and market competitiveness[10]. - The R&D investment as a percentage of operating revenue increased to 6.86%, up by 2.26 percentage points from 4.60% in the previous year[17]. - R&D investment totaled approximately ¥39.73 million, representing a 62.23% increase compared to ¥24.49 million in the previous year[36]. - The number of R&D personnel increased to 244 from 205, accounting for 19.15% of the total workforce[47]. Product Development and Innovation - New product launches include a line of high-speed steel cutting tools, which are projected to contribute an additional 50 million CNY in revenue by the end of 2024[10]. - The company has developed multiple unique hard alloy substrate grades tailored for various application scenarios, enhancing performance stability[32]. - The company has introduced advanced production techniques, such as CVD coating technology, to improve tool durability and cutting performance[33]. - The company launched over 2,200 new hard tools and over 2,000 CNC blade and tool body varieties during the reporting period[59]. Sustainability and Environmental Initiatives - The management highlighted a focus on sustainability initiatives, aiming to reduce production waste by 25% by 2025[10]. - The company has invested 28.52 million yuan in environmental protection during the reporting period[78]. - The company is actively responding to the national "carbon neutrality" strategy by reducing energy consumption and greenhouse gas emissions[84]. Financial Integrity and Governance - The board confirmed that there are no non-operational fund usages by controlling shareholders, ensuring financial integrity[10]. - The integrity status of the company and its controlling shareholders remains good, with no unfulfilled court judgments or significant debts due[103]. - The company has not engaged in any significant related party transactions outside of normal operations during the reporting period[104]. Strategic Acquisitions and Investments - The company has completed a strategic acquisition of a local competitor for 200 million CNY, which is anticipated to increase market share by 5%[10]. - A strategic acquisition of a smaller tech firm was announced, which is expected to enhance the company's product offerings and increase market competitiveness[98]. - The company invested 3 million yuan to acquire a 10% stake in Zhuzhou Oke Yi Intelligent Technology Co., Ltd., which focuses on metal tool manufacturing and sales[69]. Market Position and Competitive Landscape - The market share of carbide tools in China has increased to approximately 53%, reflecting a growing dominance in the cutting tool sector[28]. - The company ranks first in domestic production scale of serrated blades, recognized as a national manufacturing single champion product[28]. - The overall market concentration in the cutting tool industry is expected to rise as smaller companies struggle to compete with larger, more innovative firms[30]. Financial Management and Cash Flow - The company's cash and cash equivalents decreased by 54.73% to CNY 260,196,429.33, mainly due to increased procurement expenditures and investments in long-term assets[66]. - Accounts receivable increased by 30.81% to CNY 476,557,102.88, indicating that cash collections were below expectations[66]. - The company reported a significant increase in financial expenses, totaling ¥8,200,713.34, compared to a financial income of -¥2,549,811.15 in the previous year[136]. Corporate Structure and Shareholder Information - The company has a total of 5,783 common stock shareholders as of the end of the reporting period[119]. - The top ten shareholders hold a total of 100,000,000 shares, with the largest shareholder, Yuan Meihe, owning 25,284,000 shares, accounting for 15.92% of the total shares[120]. - The company has not experienced any significant changes in project feasibility during the reporting period[113]. Compliance and Regulatory Matters - The company has not received any non-standard audit opinions during the reporting period[103]. - The company guarantees that its initial public offering (IPO) does not involve any fraudulent activities and will initiate a buyback of shares if it fails to meet listing conditions due to deceitful practices[89]. - The company has committed to fulfilling all public commitments disclosed in the IPO prospectus and will take measures to address any failures to meet these obligations[101].

民生证券股份有限公司 关于株洲欧科亿数控精密刀具股份有限公司 2024 年上半年持续督导跟踪报告 民生证券股份有限公司（以下简称"民生证券""保荐机构"）作为株洲欧科亿 数控精密刀具股份有限公司（以下简称"欧科亿""公司"）首次公开发行股票并在 科创板上市及 2022 年度向特定对象发行 A 股股票的保荐机构，根据《证券发行 上市保荐业务管理办法》及《上海证券交易所科创板股票上市规则》等有关法律 法规和规范性文件的要求，对欧科亿进行持续督导，持续督导期为 2020 年 12 月 10 日至 2024 年 12 月 31 日。民生证券通过日常沟通、定期回访、现场检查、 尽职调查等方式进行持续督导，现就 2024 年 1-6 月持续督导工作报告如下： 1 序号 工作内容 实施情况 1 建立健全并有效执行持续督导工作制度，并针对具体的 持续督导工作制定相应的工作计划。 保荐机构已建立健全并有效执 行了持续督导制度，并制定了相 应的工作计划。 2 根据中国证监会相关规定，在持续督导工作开始前，与 上市公司签署持续督导协议，明确双方在持续督导期间 的权利义务，并报上海证券交易所备案。 保荐机构已与欧科亿签订承销 及保荐 ...

证券代码：688308 证券简称：欧科亿 公告编号：2024-034 株洲欧科亿数控精密刀具股份有限公司 关于 2024 年半年度募集资金存放与实际使用情况的专项 报告 2.2022 年度向特定对象发行 A 股股票募集资金金额、资金到位情况 根据中国证券监督管理委员会《关于同意株洲欧科亿数控精密刀具股份有限 公司向特定对象发行股票注册的批复》（证监许可[2022]1919 号），公司向特定 对象发行人民币普通股 A 股股票 12,616,306 股，每股面值 1 元，每股发行价格为 人民币 63.41 元，募集资金总额为人民币 799,999,963.46 元，扣除发行费用后， 募集资金净额为人民币 786,455,598.88 元。上述资金已于 2022 年 11 月 16 日全 （一）实际募集资金金额、资金到位情况 1.首次公开发行股票募集资金金额、资金到位情况 根据中国证券监督管理委员会证监许可[2020]2980 号文《关于同意株洲欧科 亿数控精密刀具股份有限公司首次公开发行股票注册的批复》核准，本公司向社 会公开发行 25,000,000 股人民币普通股 A 股股票，每股面值 1 元，每股发行价格 ...

证券代码：688308 证券简称：欧科亿 公告编号：2024-032 株洲欧科亿数控精密刀具股份有限公司 持股 5%以上股东权益变动超过 1%暨减持结果公告 本公司董事会、全体董事及相关股东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： 股东持股的基本情况 本次减持计划实施前，株洲欧科亿数控精密刀具股份有限公司（以下简称"公 司"）股东南京精锐创业投资合伙企业（有限合伙）（以下简称"南京精锐"）持 有公司股份 8,150,520 股，占公司股份总数的 5.13%。该股份为公司首次公开发 行股票前持有及 2022 年度权益分派资本公积金转增取得的股份，且已于 2023 年 12 月 11 日解除限售并上市流通。 减持计划的实施结果情况 公司于 2024 年 6 月 22 日披露了《关于持股 5%以上股东减持股份计划公告》 （公告编号：2024-027），因自身资金需求，公司股东南京精锐拟通过集中竞价、 大宗交易的方式减持其所持有的公司股份合计不超过 2,000,000 股，即不超过公 司股份总数的 1.26%。 公司于 2024 ...

证券代码：688308 证券简称：欧科亿 公告编号：2024-031 株洲欧科亿数控精密刀具股份有限公司 关于吸收合并全资子公司的进展公告 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、吸收合并事项概述 本次吸收合并，有利于进一步优化公司管理架构，降低管理成本，提高运营效 率，由于炎陵欧科亿是公司全资子公司，其财务报表已纳入公司的合并报表范围， 本次吸收合并对公司的正常经营和财务状况均不构成实质性影响，不会损害公司及 全体股东的利益。 特此公告 株洲欧科亿数控精密刀具股份有限公司董事会 2024 年 8 月 14 日 株洲欧科亿数控精密刀具股份有限公司（以下简称"公司"）于 2024 年 4 月 8 日召开第三届董事会第五次会议审议通过了《关于公司吸收合并全资子公司的议 案》，为进一步优化公司管理架构，降低管理成本，提高运营效率，公司拟吸收合 并全资子公司炎陵欧科亿数控精密刀具有限公司（以下简称"炎陵欧科亿"），本 次吸收合并完成后，炎陵欧科亿的独立法人资格将被注销，其全部资产、债权、债 务和业务等由公司依法继承，具 ...

Group 1: Market Opportunities - The domestic high-end CNC tool market has significant potential for import substitution, with leading domestic companies improving technology and capabilities [2] - New demands in downstream applications, such as aerospace, new energy, and titanium alloy processing, are driving growth in tool requirements [2] - The global market for cutting tools is 5-6 times larger than the domestic market, presenting substantial export opportunities for domestic tools [2] Group 2: Product and Market Strategy - The company plans to focus on research of basic material technologies, including new coating materials and metal ceramics [3] - Marketing strategies will be enhanced to explore high-quality downstream markets and develop comprehensive tool solutions for key customers [3] - The company aims to increase the proportion of overseas revenue through ongoing international expansion efforts [3] Group 3: R&D Progress - In 2023, the company invested 0.64 billion CNY in R&D, accounting for 6.22% of revenue, with over 70 projects initiated [3] - The company applied for 41 new patents and received 14 new authorizations, with several projects recognized as key provincial R&D initiatives [3] Group 4: Product Structure Upgrade - The company is launching more high-end CNC blade products to compete with imported alternatives [4] - There is a shift from single blade sales to a comprehensive product series in CNC tools, enhancing the overall product offering [4] - The company is advancing a full product system that includes CNC blades and bodies, as well as metal ceramics and superhard tools [4] Group 5: Cost Efficiency and Scale Effects - The company benefits from scale effects in production, which enhance efficiency and reduce unit costs as production volume increases [4] - A diverse product range allows for specialized production lines, improving overall production efficiency [4] Group 6: International Expansion - The company has seen rapid growth in export volumes and is actively seeking influential local agents for overseas sales [4] - The average export price of products is higher than domestic prices, highlighting competitive advantages in international markets [4] Group 7: Equipment Investment - The company prioritizes investment in advanced production and R&D equipment to enhance technical capabilities and product quality [4] - Strict quality control and process systems are in place to ensure high standards in production [4] Group 8: Industry Trends - The market concentration in the domestic tool industry is expected to increase as leading companies expand, while smaller firms struggle to compete [4] - The demand for CNC tools is evolving with higher efficiency requirements due to increased automation in the machining industry [4] Group 9: Metal Ceramic Tools - Metal ceramic tools are particularly effective in high-speed precision machining applications, especially in aerospace and automotive sectors [5] - The company is developing metal ceramic products to meet the growing demand for high-efficiency and high-quality processing [5] Group 10: Overseas Subsidiary Establishment - The establishment of a wholly-owned subsidiary in Germany aims to enhance the company's overseas strategic layout and improve competitiveness [5] - The subsidiary will leverage local technological and market advantages to better serve customer needs and enhance international market presence [5]