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 向控股子公司提供财务资助的核查意见 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股票的保荐机构，根据《证券发行上 市保荐业务管理办法》《科创板上市公司持续监管办法（试行）》及《上海证券 交易所科创板股票上市规则》等相关规定，对欧科亿向控股子公司提供财务资助 事项进行了审慎核查，具体情况如下： 一、财务资助概述 （一）本次财务资助的基本情况 为满足公司控股子公司欧科亿新能源的生产经营和项目建设需要，在不影响 公司自身正常经营的情况下，公司拟以有息借款的方式向控股子公司欧科亿新能 源提供不超过 10,000 万元的财务资助，协议将在借款期限内根据欧科亿新能源 实际资金需求进行签署，借款期限为自股东大会审议之日起不超过 36 个月，借 款利率根据实际借款天数，按照中国人民银行公布的同期贷款基准利率计算。在 上述额度和期限内，公司根据资金情况、实际经营需要分批向欧科亿新能源给付。 （二）本次提供财务资助的主要原 ...

Revenue Expectations - The company expects 2024 annual revenue to be between 1,100 million and 1,160 million CNY, representing a year-on-year increase of 7.16% to 13.01%[2]. - In 2023, the company achieved a revenue of 1,026.46 million CNY and a net profit of 166 million CNY[3]. Profit Projections - The projected net profit attributable to shareholders for 2024 is between 58 million and 65 million CNY, a decrease of 60.84% to 65.06% compared to the previous year[2]. - The expected net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between 22 million and 26.5 million CNY, reflecting a decline of 79.54% to 83.02% year-on-year[2]. Factors Affecting Profit - The decline in net profit is attributed to lower gross margins from new projects, increased R&D expenses, and higher depreciation and tax expenses[5]. - The CNC tool industrial park project has entered production but is still in the capacity ramp-up phase, leading to lower initial gross margins[5]. - The company has increased its focus on product upgrades and new product development, resulting in higher R&D costs[5]. - The financial expenses have also increased, contributing to a rise in the period expense ratio[5]. Business Strategy - The company is actively promoting integrated tool solutions and accelerating terminal channel construction[5]. Financial Reporting - The performance forecast is based on preliminary calculations and has not yet been audited by certified public accountants[6].

Market Strategy and Demand - The company anticipates benefiting from national policies promoting equipment upgrades and consumption, which will drive economic recovery and market demand for cutting tools [2] - The company has strategically expanded production capacity and terminal channels during economic downturns to seize market opportunities during recovery [2] - The company has focused on inventory digestion and product structure upgrades, laying a solid foundation for next year's operations [2] - The company's current production capacity meets market demand, but production strategies are adjusted flexibly based on diverse market needs [8] - The company is actively developing new cutting tool products to adapt to future market trends, particularly in emerging industries [9] R&D and Innovation - The company emphasizes product technological innovation, with R&D guided by market demand, focusing on industry sectors, material directions, product categories, and application markets [9] - The company has expanded its R&D team, including specialists in material formulation, manufacturing processes, structural design, and application technology [9] - The company has established dedicated R&D groups for product upgrades and development, cultivating application engineering talent and technical personnel for new product directions [9] - The company has made breakthroughs in high-end manufacturing, such as upgrading titanium alloy milling base material grades and developing advanced CVD and PVD coating technologies [24] Brand and Market Influence - The company maintains a high-end product positioning, continuously improving product quality and innovation to meet diverse market needs [12] - The company enhances brand influence through industry forums, new product launches, and participation in domestic and international exhibitions [12] - The company provides customers with product promotional materials and technical application training, establishing a strong market application team to improve customer relationships [12] - The company has established a wholly-owned subsidiary in Germany to enhance its brand presence in international markets and improve customer satisfaction through localized operations [22] Industry Trends and Competitive Landscape - The domestic cutting tool market is increasingly replacing imported products, with domestic tools gaining market share due to cost-effectiveness and local service advantages [18] - The company is continuously breaking through key technologies in high-end cutting tools, capturing more market share from imported products [19] - The company has expanded its product range from CNC inserts to include integral tools, metal ceramic tools, and superhard tools, increasing market coverage [19] - The company can adjust its product structure based on the economic conditions of different downstream sectors, effectively responding to market changes [19] Overseas Expansion and Strategic Partnerships - The company has established a wholly-owned subsidiary in Germany to improve market layout in Europe, enhance local market cooperation, and accelerate the export substitution process [22] - The company's overseas expansion aims to increase brand recognition, expand sales channels, and provide timely and professional after-sales services [22] - The company's overseas operations allow for faster feedback on international advanced technologies and market demands, promoting product and technology iteration [22] Business Model and Profitability - The company's integrated supply model reduces direct and potential costs for customers by eliminating concerns about tool selection, inventory management, and capital occupation [23] - The integrated supply model provides customized services, avoiding waste and optimizing tool processing efficiency to reduce customer costs [23] - The company's integrated business model focuses on providing comprehensive tool products and on-site management services, enhancing profitability and customer loyalty [25] - The company's integrated business model has successfully entered stable operation in projects like BMW's crankshaft, serving as a model for large-scale integrated projects, particularly in the automotive industry [25] Industry Collaboration and Mergers - Mergers in the cemented carbide cutting tool industry help companies quickly expand scale and achieve deep-level collaborative development through resource sharing and technical exchanges [16] - Mergers enable companies to acquire R&D achievements, patent technologies, and production process resources in new segments, improving operational efficiency and service response speed [16] - Mergers allow companies to integrate customer and product resources, meeting one-stop service needs and avoiding direct market competition [16]

Group 1: Industry Response and Market Outlook - The company is currently in a golden phase of domestic import substitution and overseas export replacement for CNC tools, continuously breaking through key technologies for high-end tools and increasing market share of imported tools [4] - The company anticipates that national policies promoting equipment upgrades and consumption will positively impact the economy and market in the coming year, positioning the company to benefit from downstream processing recovery [5] - The domestic market's reliance on imported tools is decreasing, with the share of imported tools in total consumption continuously declining [7] Group 2: Product Strategy and Development - The company is focusing on high-end product development by aligning with mainstream foreign brands and customizing tools for specific industry applications [10] - The company has released over 2,200 new types of hard alloy tools in the first half of the year, with strong market demand and order status [14] - The company aims to enhance its competitive edge by improving product performance in terms of stability, lifespan, and precision, particularly in comparison to European and American products [7] Group 3: Sales and Distribution Strategy - The company has established service centers across multiple regions to enhance technical support and customer service, increasing the number of application engineers to better meet client needs [12] - Overseas sales revenue reached 166 million yuan in the first three quarters, with CNC tool exports accounting for approximately 140 million yuan, indicating a trend towards high-end product development [8] - The company plans to establish a subsidiary in Europe to expand its market reach and improve local market penetration [8] Group 4: Future Development Strategy - The company emphasizes market orientation and innovation as core principles for future development, focusing on independent research and development to upgrade existing products and expand product applications [15] - The company aims to create value for customers by addressing their pain points and challenges, while also enhancing its brand influence and overall market presence [15]

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 年度持续 督导工作定期现场检查报告 民生证券股份有限公司（以下简称"民生证券"或"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""上市公司"或"公司"）首次公 开发行股票和 2022 年度向特定对象发行股票的保荐人，根据中国证券监督管理 委员会《证券发行上市保荐业务管理办法》《上海证券交易所上市公司自律监管 指引第 11 号——持续督导》等有关法律法规和规范性文件的要求，于 2024 年 11 月 21 日至 2024 年 11 月 22 日对欧科亿进行了 2024 年度现场检查。现将检查 情况汇报如下： 一、本次现场检查的基本情况 （一）保荐机构 民生证券股份有限公司 （二）保荐代表人 宋彬、邢文彬 （三）现场检查时间 2024 年 11 月 21 日至 2024 年 11 月 22 日 （四）现场检查人员 宋彬、邢文彬 （五）现场检查内容 公司治理、内部控制，信息披露，独立性以及与控股股东、实际控制人及其 他关联方资金往来情况，募集资金使用，关联交易、对外担保、重大对外投资， 经营状况等。 （六）现场检查手段 ...

证券代码：688308 证券简称：欧科亿 公告编号：2024-041 株洲欧科亿数控精密刀具股份有限公司 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、准确性和完整性依法承担法律责任。 重要内容提示： 会议召开时间：2024 年 12 月 02 日(星期一) 上午 11:00-12:00 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/） 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 25 日(星期一) 至 11 月 29 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注的 问题进行回答。 株洲欧科亿数控精密刀具股份有限公司（以下简称"公司"）已于 2024 年 10 月 31 日发布公司 2024 年第三季度报告，为便于广大投资者更全面深入地了 解公司 2024 年第三季度经营成果、财务状况 ...

证券代码：688308 证券简称：欧科亿 公告编号：2024-040 株洲欧科亿数控精密刀具股份有限公司 关于募集资金专户销户完成的公告 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。 株洲欧科亿数控精密刀具股份有限公司（以下简称"公司"）2022 年度向特 定对象发行股票募集资金按照相关法律、法规和规范性文件的规定在银行开立了 募集资金专用账户。鉴于公司 2022 年度向特定对象发行股票募投项目结项并将节 余募集资金永久补充流动资金，近日，公司办理完成了对募集资金专用账户的注 销手续，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《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 ...

Group 1: Overseas Sales and Market Expansion - The company has seen rapid growth in overseas sales, with revenue reaching 166 million yuan in the first three quarters, of which approximately 140 million yuan came from CNC tool exports, indicating a significant increase in both volume and price [2] - Plans to establish a subsidiary in Europe to expand into more countries and regions in the European and American markets, enhancing local market penetration and technical services [2] - The company aims to maintain growth momentum in both Asian and European markets while focusing on resource integration opportunities [2] Group 2: Product Development and Capacity Expansion - The company has released new products in the hard tool segment, with over 2,200 new varieties introduced in the first half of the year, targeting high-end applications in industries such as aerospace and precision molds [2] - The production capacity for hard tools is gradually being released, with a positive market order situation expected to further enhance business performance [2] Group 3: Channel Development and Customer Service - Establishment of service centers across various regions to strengthen terminal development and technical support, with an increase in application engineers to enhance on-site technical services [4] - The company employs a tiered channel management strategy to balance direct and distributor sales, enhancing overall market share and brand influence [4] Group 4: Comprehensive Solutions and Strategic Initiatives - The company is focusing on providing comprehensive solutions for global cutting processes, expanding application scenarios in automotive, aerospace, rail transportation, and wind energy sectors [5] - The tungsten wire project has achieved batch trial production and customer validation, with plans to expand production capacity based on market conditions [6] Group 5: Future Outlook and Strategic Planning - The company anticipates that national policies promoting equipment upgrades and consumption will positively impact the market in the coming year, positioning itself to capitalize on recovery opportunities [7] - Future development strategies include market-oriented innovation, expanding product series, and enhancing domestic and international sales channels, with a focus on customer value creation [7]

Investment Rating - The report maintains a "Buy" rating for the company [5][6]. Core Insights - The company reported a revenue of 895 million yuan for the first three quarters of 2024, representing a year-on-year growth of 11.22%. However, the net profit attributable to the parent company decreased by 43.70% to 90 million yuan, which aligns with expectations. In Q3 2024, revenue reached 316 million yuan, up 16.08% year-on-year, but net profit fell by 41.85% year-on-year to 30 million yuan [5][6]. - The company is experiencing a slight increase in revenue from CNC tools, with overseas sales growing significantly by 44.2% to 166 million yuan. The production of new products is progressing well, contributing positively to revenue [6]. - The company is actively expanding its production capacity and enhancing its product matrix, aiming to become a comprehensive supplier and service provider for CNC tools [6]. - The profit forecast has been revised downwards due to slow domestic demand recovery, with expected net profits for 2024-2026 adjusted to 125 million, 184 million, and 256 million yuan respectively [6][7]. Financial Summary - For the first three quarters of 2024, the company achieved total revenue of 895 million yuan, with a year-on-year growth rate of 11.2%. The net profit attributable to the parent company was 90 million yuan, down 43.7% year-on-year [7]. - The gross margin for Q1-Q3 2024 was 25.83%, a decrease of 6.71 percentage points year-on-year, while the net margin was 10.00%, down 9.83 percentage points year-on-year [6]. - The company’s earnings per share (EPS) for 2024 is projected at 0.79 yuan, with PE ratios for 2024, 2025, and 2026 expected to be 30, 20, and 14 respectively [10].

Group 1: Market Opportunities - The domestic high-end CNC tool market has significant room for import substitution, with the market size being 5-6 times larger than the domestic market [2] - New demands are emerging in downstream application fields such as aerospace, new energy vehicles, military, wind power, and humanoid robots, driving the need for cutting tools [2] - The global market for cutting tools presents substantial potential for growth, with the company aiming to increase its market share internationally [2] Group 2: Sales and Distribution Model - The cutting tool industry has a decentralized terminal sales model that relies heavily on technical services and distributor resources [2] - The company is increasing its terminal coverage and brand promotion to better understand customer needs and market risks [2] - While initial sales costs may rise, long-term benefits include greater market share and stronger customer relationships [2] Group 3: Cost and Production Efficiency - The scale effect in CNC tool production leads to lower unit costs and improved profitability as production scales up [3] - The company is leveraging commonality in equipment for different product varieties to enhance production efficiency [3] - The current high prices of raw materials, such as tungsten carbide, have been successfully passed on to downstream customers [3] Group 4: International Expansion - The company is actively investing in overseas markets, achieving rapid growth in export volumes and targeting over 50 countries [3] - Establishing subsidiaries and service centers abroad is part of the strategy to enhance market presence and customer service [3] - The average export price of products is higher than domestic prices, highlighting the competitive advantage in international markets [3] Group 5: Industry Trends and Innovations - The cutting tool industry is experiencing a shift towards high-end products, requiring advancements in materials and coatings [6] - Companies are evolving from mere suppliers to partners that provide customized solutions to meet high-efficiency and cost-optimization demands [6] - Domestic companies are accelerating the import substitution of high-end CNC tools through innovation and understanding of customer needs [7] Group 6: Mergers and Acquisitions - The company is exploring merger opportunities to enhance its competitive edge and expand its scale through collaboration with leading firms in the cutting tool sector [5] - The focus is on integrating businesses that complement the company's core operations to achieve synergistic benefits [5]