湖南启元律师事务所 关于株洲欧科亿数控精密刀具股份有限公司 2023年年度股东大会的 法律意见书 湖南省长沙市芙蓉区建湘路 393 号世茂环球金融中心 63 层 410000 电话：（0731）82953-778 传真：（0731）82953-779 1 正 文 一、本次股东大会的召集与召开程序 1、2024年4月8日，公司第三届董事会第五次会议审议通过了《关于召开2023 年年度股东大会的议案》，决定召开本次股东大会。 网站：www.qiyuan.com 致：株洲欧科亿数控精密刀具股份有限公司 湖南启元律师事务所（以下简称"本所"）受株洲欧科亿数控精密刀具股份有 限公司（以下简称"公司"）委托，对公司 2023 年度股东大会（以下简称"本次 股东大会"）进行现场见证，并根据《中华人民共和国公司法》（以下简称"《公司 法》"）、《上市公司股东大会规则》（以下简称"《股东大会规则》"）等中国现行法 律、法规、规章和规范性文件以及《株洲欧科亿数控精密刀具股份有限公司章程》 （以下简称"《公司章程》"）的相关规定，出具本法律意见书。 为出具本法律意见书，本所指派本所律师出席了本次股东大会，按照律师行 业公认的业务标 ...

证券代码：688308 证券简称：欧科亿 公告编号：2024-020 株洲欧科亿数控精密刀具股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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。 重要内容提示： 截至 2024 年 4 月 30 日，株洲欧科亿数控精密刀具股份有限公司（以下 简称"公司"）通过上海证券交易所交易系统以集中竞价交易方式累计回购公司 股份 967,805 股，占公司总股本 158,781,708 股的比例为 0.61%，回购成交的最 高价为 33.50 元/股，最低价为 16.01 元/股，支付的资金总额为人民币 23,597,785.77 元（不含印花税、交易佣金等交易费用）。 一、回购股份的基本情况 方式累计回购公司股份 967,805 股，占公司总股本 158,781,708 股的比例为 0.61%，回购成交的最高价为 33.50 元/股，最低价为 16.01 元/股，支付的资金 总额为人民币 23,597,785.77 元（不含印花税、交易佣金等交易费用）。 本次回购股份符合法律法规 ...

Group 1: Financial Performance - In Q1 2024, the company achieved sales revenue of 264 million CNY, with CNC tool revenue at 141 million CNY and a gross margin of approximately 43% for self-produced CNC blades [5] - Export revenue reached 60.5 million CNY, a year-on-year increase of 98%, with CNC tool export revenue at 54.69 million CNY, up 121% [5][6] - The average price of CNC tool products exported was 11.22 CNY per piece, accounting for 38.65% of total CNC tool revenue [6] Group 2: Product and Market Outlook - The company plans to rapidly release production capacity for new products in Q2 2024, including ceramic tools and CNC tool bodies [6] - The demand for CNC tools has shown an upward trend since March, coinciding with the peak processing season in Q2 [6] - The company has implemented price increases for CNC tools and hard alloy products due to rising raw material costs [6] Group 3: Inventory and Supply Chain - Inventory increased in Q1 2024 primarily due to a rise in raw material stockpiling in anticipation of price increases [6] Group 4: Industry Development and Strategy - The company is focusing on high-end markets, particularly in the rail transportation and aerospace sectors, where there is significant demand for advanced materials and tools [7][8] - The company is enhancing its overseas sales channels through the establishment of branches, warehouses, and local sales teams [8] - The trend in the tool industry is moving towards customized solutions to meet the high efficiency and cost optimization demands of end-users [9][10] Group 5: Production Capacity and Utilization - The current production capacity for high-end CNC blades is insufficient to meet market demand, prompting the company to switch some production to high-end products [11]

欧科亿年报业绩说明会 24年一季度以来，其实公司整体的一个战略的方向是坚持着国内提质海外提量的这样的一个做法。那么 在一季度的数据来看，其实也得到了一个应该在我们这块还是略见成效的。那么从现在的数据来，我们做 一个简单的拆分的分析，一季度整个的收入是2.64个亿，那么这里头的话数控刀具的收入是1.41个亿， 这里面也包含了整体刀具的一个销售。一季度应该说整体刀具的销售的体量还是相对比较快的，一季度完 成了1464万。我们去年全年的是1,000万的一个整刀的销售，那么其余的主要还是以数控刀片为主。这 里头从现在的数控刀片的，我们也分析了它的一个毛利率和价格的情况，数控刀片的按照一季度综合毛利 率的话，从我们日常照片来讲是43，整体刀具，因为今年的话是刚刚3月份属于正式的生产状态，前面 的话其实只是在一个试生产情况，所以那么整体来讲，其实今年一季度的毛利率水平已经有一个明显的变 化，去年里头因为毛利率是一个负的百分之十几。 那么今年一季度的时候已经实现了毛利率由负转正，也到了毛利率的八点几了。随着我们二季度的整个的 整体刀具投产之后，这块里头的话就是说从它的整个产品的提升也会有进一步的促进作用。那么整个硬质 合金 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][7] Core Views - The company reported a revenue of 270 million yuan in Q1 2024, a year-on-year decrease of 7.0%, and a net profit attributable to the parent company of 30 million yuan, down 49.7% year-on-year [1] - The increase in expense ratio and significant decline in net profit margin are attributed to insufficient scale effects and a decrease in gross profit margin [2] - The company is expected to benefit from the end of the destocking cycle in the industrial sector, with a potential new replenishment cycle on the horizon [2][6] - The domestic market for CNC cutting tools is still in the early stages of localization, presenting significant opportunities for domestic substitution [2][6] - The overseas market for cutting tools is approximately four times the size of the domestic market, and the company has increased its overseas revenue contribution from 10% in 2022 to 19% in Q1 2024 [2] Summary by Sections Financial Performance - In Q1 2024, the company's comprehensive gross profit margin was 25.1%, a decrease of 7.2 percentage points year-on-year, primarily due to insufficient capacity utilization of CNC cutting tools [5] - The expense ratio for Q1 2024 was 15.0%, an increase of 6.0 percentage points year-on-year, with R&D expenses rising by 2.9 percentage points [2][5] Future Outlook - The company is projected to achieve net profits of 200 million yuan, 280 million yuan, and 390 million yuan for the years 2024, 2025, and 2026, respectively, indicating a compound annual growth rate of 33% over the next three years [7][8] - The revenue growth rates for the years 2024, 2025, and 2026 are expected to be 32.27%, 28.70%, and 27.21%, respectively [8] Market Position - The company is positioned as a leading domestic manufacturer of cutting tools, focusing on enhancing product quality and cost-effectiveness to expand its presence in overseas markets [2][6]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [4] Core Views - The company's revenue for Q1 2024 was 264 million yuan, a year-on-year decrease of 7.03%, while the net profit attributable to the parent company was 30 million yuan, down 49.66% year-on-year. The decline in performance is attributed to a high revenue base in Q1 2023 and increased unit costs due to underutilization of hard tool capacity, along with rising period expenses. However, there are signs of demand recovery since March 2024, and with the launch of new products and further expansion into overseas markets, the company's performance is expected to rebound in 2024 [1][4] Financial Performance Summary - In Q1 2024, the company's gross profit margin was 25.09%, down 7.14 percentage points year-on-year, and the net profit margin was 11.31%, down 9.58 percentage points year-on-year. The decline in margins is primarily due to increased costs and rising expense ratios. The period expense ratio for Q1 2024 was 15.04%, up 5.98 percentage points year-on-year, with sales, management, R&D, and financial expense ratios increasing by 0.03, 1.63, 2.93, and 1.45 percentage points respectively [2] Order Wins and Market Expansion - The company recently won a significant order for a tool management service project for BMW crankshafts, showcasing its comprehensive package capabilities. This win is seen as a demonstration of the company's ability to enter the automotive sector, where high-end tool prices and profit margins are generally higher, which is expected to positively impact the company's performance [13] - The company has accelerated its overseas market expansion, achieving 140 million yuan in overseas sales in 2023, with 110 million yuan from CNC tool exports, representing 19.27% of CNC tool revenue. The company has increased its overseas brand agency and sales have rapidly improved across nearly 60 countries, with some overseas clients in Asia and Europe experiencing doubled growth [13]

Financial Performance - The company's operating revenue for Q1 2024 was ¥263,887,915.53, representing a decrease of 7.03% compared to the same period last year[2]. - The net profit attributable to shareholders decreased by 49.66% to ¥29,849,198.35, primarily due to underutilized production capacity and increased unit costs[6]. - Basic and diluted earnings per share both fell by 50.00% to ¥0.19[2]. - The net profit excluding non-recurring gains and losses dropped by 72.43% to ¥13,371,772.04[2]. - The net profit for Q1 2024 was CNY 29,849,198.35, a decrease of 49.7% compared to CNY 59,295,431.26 in Q1 2023[17]. - The total profit for Q1 2024 was CNY 37,097,986.66, a decrease of 46.1% from CNY 68,928,481.77 in Q1 2023[16]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥133,267,054.46, a decline of 128.50% year-on-year, mainly due to increased payments for raw materials[6]. - The company reported a net cash outflow from operating activities of CNY -133,267,054.46, compared to CNY -58,321,503.23 in the previous year[20]. - Cash and cash equivalents decreased to RMB 419,939,682.52 from RMB 574,751,675.64, a decline of 26.9%[11]. - Cash and cash equivalents at the end of Q1 2024 were CNY 313,644,822.94, down from CNY 450,578,664.32 at the end of Q1 2023[21]. - The company generated CNY 134,390,498.21 in cash from sales in Q1 2024, an increase of 43% from CNY 94,077,084.09 in Q1 2023[20]. - Investment activities resulted in a net cash outflow of CNY -191,923,992.33, compared to CNY -127,522,691.60 in the same period last year[21]. - The company raised CNY 340,000,000.00 through borrowings in Q1 2024, up from CNY 200,000,000.00 in Q1 2023[21]. Expenses and Costs - Total operating costs increased to CNY 240,256,779.23 in Q1 2024 from CNY 219,124,826.64 in Q1 2023, representing a rise of 9.5%[16]. - Research and development expenses totaled ¥18,206,523.68, an increase of 61.47%, accounting for 6.90% of operating revenue, up by 2.93 percentage points[3][6]. - Research and development expenses rose significantly to CNY 18,206,523.68, up from CNY 11,275,382.51, marking an increase of 61.5%[16]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,982,948,433.98, reflecting a 2.65% increase from the end of the previous year[3]. - Current assets as of March 31, 2024, totaled RMB 2,358,212,382.31, an increase from RMB 2,301,720,515.76 as of December 31, 2023, representing a growth of 2.5%[11]. - Non-current assets totaled RMB 1,624,736,051.67, an increase from RMB 1,578,514,341.07, showing a growth of 2.9%[12]. - Total liabilities as of March 31, 2024, were RMB 1,396,942,020.16, up from RMB 1,316,844,175.40, indicating an increase of 6.1%[13]. - Short-term borrowings rose to RMB 755,998,956.61 from RMB 665,033,454.11, an increase of 13.6%[12]. - The company reported a decrease in accounts payable from RMB 212,067,022.30 to RMB 161,173,856.22, a reduction of 24%[12]. - The retained earnings increased to RMB 681,141,082.21 from RMB 651,291,883.86, reflecting a growth of 4.6%[13]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,914[8]. - The weighted average return on equity decreased by 1.21 percentage points to 1.16%[2]. - The company reported non-recurring gains of ¥16,477,426.31, primarily from government subsidies and other non-operating income[6].

株洲欧科亿数控精密刀具股份有限公司 2023 年年度股东大会会议资料 证券代码：688308 证券简称：欧科亿 株洲欧科亿数控精密刀具股份有限公司 2023 年年度股东大会会议资料 2024 年 5 月 株洲欧科亿数控精密刀具股份有限公司 2023 年年度股东大会会议资料 目 录 | 2023 年年度股东大会会议须知 | | 1 | | --- | --- | --- | | 2023 年年度股东大会会议议程 | | 3 | | 议案一：2023 年度董事会工作报告 | | 5 | | 议案二：2023 年度监事会工作报告 | | 10 | | 议案三：2023 年年度报告及摘要 | | 14 | | 议案四：2023 年度财务决算报告 | | 15 | | 议案五：关于 2023 年度利润分配预案的议案 | 19 | | | 议案六：关于 2024 年度日常关联交易预计的议案 | 20 | | | 议案七：关于续聘会计师事务所的议案 | 23 | | | 议案八：关于公司董事薪酬方案的议案 | 24 | | | 议案九：关于公司监事薪酬方案的议案 | 25 | | | 议案十：关于 2024 年度申请综合授 ...

Group 1: Financial Performance - In 2023, the company achieved operating revenue of 1,026.46 million yuan, with CNC tool products contributing 578.54 million yuan and hard alloy products contributing 445.46 million yuan [2] - CNC tool product sales reached 8.77 million pieces, with an average selling price of 6.59 yuan per piece [3] - The overall revenue from hard alloy products grew by 9.98% year-on-year [3] Group 2: Product and Market Strategy - The proportion of high-end CNC tool products increased, with products priced above 10 yuan accounting for 18.19%, up by 4.73 percentage points year-on-year [3] - The company focuses on product innovation and high-end market penetration, with plans for accelerated market entry of high-end products in 2024 [3] - The overseas market presents significant opportunities, with a clear demand for both mid-range and high-end products in regions like Southeast Asia and Europe [4] Group 3: Challenges and Responses - The negative operating cash flow in 2023 was primarily due to delayed receivables and increased inventory from new product preparations [3] - Raw material prices, particularly tungsten carbide, have risen, but the company has successfully passed these costs onto customers [3] - The company is actively managing accounts receivable, with improvements expected as dealer inventories decrease [3] Group 4: Future Outlook - In 2024, the company plans to adjust its operational strategy to enhance high-end product transformation and channel development [5] - The company has a construction project with 278 million yuan in progress, expected to contribute to scale efficiency upon completion [5] - The company is committed to maintaining stock price stability through share repurchases, having repurchased shares worth 20.21 million yuan as of March 31, 2024 [5]

公 司 研 究 / 公 司 点 评 请务必仔细阅读正文之后的各项信息披露与声明 2024 年 04 月 12 日 欧科亿 (688308) 信息披露 上 市 公 司 机械设备 | --- | --- | |----------------------------------|-------------------------------| | | | | 基础数据 : | 2023 年 12 月 31 日 | | 每股净资产（元） | 16.14 | | | | | 资产负债率 % | 33.94 | | 总股本 / 流通 A 股（百万） | 159/159 | | 流通 B 股/H 股（百万） | -/- | 证券分析师 1 报告原因：有业绩公布需要点评 买入（维持）事件：公司发布 2023 年年报，2023 年前三季度公司实现营业收入 10.26 亿元，同比-2.73%； 实现归母净利润 1.66 亿元，同比-31.43%，业绩符合预期。单季度来看，2023Q4 公司实现营 业收入 2.22 亿元，同比-13.27%，环比-18.44%；归母净利润 643.08 万元，同比-88.00%， 环比-87.4 ...