证券代码：688543 证券简称：国科军工 公告编号：2024-057 江西国科军工集团股份有限公司 关于以集中竞价交易方式回购公司股份的回购进展公 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、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2024/2/9 | | | | | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2024 年 2 8 日~2025 年 月 7 | 月 | 2 | 日 | | 预计回购金额 | 万元 7,000 万元~13,000 | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | □为维护公司价值及股东权益 | | | | | 累计已回购股数 | 万股 165.3 | | | | | 累计已回购股数占总股本比例 | 0.94% | | | | | 累计已回购金额 | 7,563.14 万元 | | | | | 实际回购价格区间 | 36.66 元/股~50 元/股 | | | | 一 ...

Investment Rating - The investment rating for the company is "Accumulate" [1][25]. Core Views - The company reported significant profit growth, with a 20.57% year-on-year increase in revenue to 482 million yuan and an 84.09% increase in net profit attributable to shareholders to 80 million yuan in the first half of 2024 [3][5][6]. - The company continues to enhance its research and development efforts, with R&D expenses increasing by 65.98% year-on-year, reflecting a commitment to innovation in core products [3][12]. - The company has implemented a stock incentive plan aimed at aligning employee interests with company performance, which includes granting 3.6 million restricted shares [19][22]. Financial Performance - For the first half of 2024, the company achieved a revenue of 482 million yuan, a 20.57% increase year-on-year, and a net profit of 80 million yuan, up 84.09% year-on-year [3][5]. - The gross profit margin for the first half of 2024 was 36.16%, an increase of 2.06 percentage points year-on-year [11][12]. - The company expects net profits for 2024, 2025, and 2026 to be 181 million, 222 million, and 289 million yuan respectively, with corresponding EPS of 1.03, 1.26, and 1.64 yuan per share [25]. Business Segmentation - The military products segment generated 460 million yuan in revenue in the first half of 2024, a 26.15% increase year-on-year, accounting for 95.42% of total revenue [9][11]. - The civilian products segment saw a decline in revenue to 19 million yuan, down 36.84% year-on-year, representing 3.98% of total revenue [9][11]. - The company’s subsidiary, Pioneer Company, reported a revenue of 119 million yuan, a 20.07% increase year-on-year, while another subsidiary, Jiujiang Guoke, experienced a revenue decline of 28.90% [16][18]. Research and Development - The company has increased its R&D personnel to 192, a 20% increase year-on-year, with R&D expenses accounting for 8.84% of total revenue [12][13]. - The company aims to maintain a research and development intensity of no less than 7% from 2025 to 2027 as part of its incentive plan [22][24]. Incentive Mechanism - The company announced a stock incentive plan on July 3, 2024, targeting 200 employees, which represents 23.26% of the total workforce [19][22]. - The plan includes performance targets for net asset return rates and net profit growth, ensuring alignment with long-term company goals [22][24].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a significant revenue growth of 20.57% year-on-year, achieving a total revenue of 482 million yuan in the first half of 2024, while the net profit attributable to shareholders increased by 84.09% to 80 million yuan [2] - The company continues to focus on the development of its core business and technology research, enhancing its capabilities to ensure smooth product delivery and maintaining a good growth trend [2] - The company has completed multiple product research trials and has secured one new bidding project, with a total of 38 existing model projects [2] - The company is investing in capacity expansion projects, which are expected to become new profit growth points in the future [2] Financial Performance Summary - The projected net profits for 2024-2026 are 188 million yuan, 245 million yuan, and 297 million yuan, with year-on-year growth rates of 33.5%, 30.2%, and 21.4% respectively [3] - The corresponding price-to-earnings (P/E) ratios for these years are 36.09, 27.72, and 22.83 [3] - Key financial indicators for 2024E include revenue of 1,396 million yuan, net profit of 188 million yuan, and a gross margin of 32.1% [5]

证券研究报告 非金融公司|公司点评|国科军工（688543） 营收及利润高增持续验证公司行业核心 地位 请务必阅读报告末页的重要声明 glzqdatemark1 2024年08月31日 证券研究报告 |报告要点 公司公告 2024 年半年报，2024H1 实现营收 4.82 亿元，同比增长 20.6%，单 Q2 实现营收 2.98 亿元，同比增长 17.5%；2024H1 实现归母净利润 0.80 亿元，同比增长 84.1%，单 Q2 实现归母 净利润 0.47 亿元，同比增长 38.0%。 |分析师及联系人 吴爽 叶鑫 SAC：S0590523110001 SAC：S0590524030004 请务必阅读报告末页的重要声明 1 / 5 非金融公司|公司点评 glzqdatemark2 2024年08月31日 国科军工(688543) 营收及利润高增持续验证公司行业核心地位 | --- | --- | |----------------------------|--------------------| | | | | 行 业： | 国防军工/地面兵装Ⅱ | | 投资评级： | 买入（维持） | | 当前价格 ...

Investment Rating - The report maintains a "Recommended" rating for the company [2][4]. Core Views - The company reported a revenue of 480 million yuan in 1H24, representing a year-on-year increase of 20.6%, and a net profit attributable to shareholders of 80 million yuan, up 84.1% year-on-year, exceeding market expectations [2]. - The growth in net profit for 2Q24 was 38% year-on-year, with a revenue of 300 million yuan, reflecting a steady improvement in profitability [2]. - The company has a robust pipeline of projects, with 92 ongoing projects as of the end of 1H24, including 56 engineering projects, indicating strong long-term growth potential [2]. Financial Performance Summary - 1H24 gross margin increased by 2.1 percentage points to 36.2%, while net margin rose by 5.4 percentage points to 17.2% [2]. - The company’s subsidiaries showed varied performance, with Yichun Pioneer achieving a revenue of 120 million yuan, up 20% year-on-year, while Aerospace Jingwei's revenue more than doubled to 187 million yuan, up 102.9% year-on-year [2]. - R&D expenses increased by 66% to 43 million yuan, reflecting the company's commitment to enhancing core product development [2]. Financial Forecasts - The company is projected to achieve net profits of 190 million yuan, 250 million yuan, and 320 million yuan for the years 2024, 2025, and 2026, respectively, with corresponding price-to-earnings ratios of 35x, 27x, and 21x [3][5]. - Revenue is expected to grow at a compound annual growth rate of approximately 24.3% from 2024 to 2026, reaching 1.945 billion yuan by 2026 [5].

二、监事会会议审议情况 （一）审议通过《关于 2024 年半年度报告及摘要的议案》 经审议，监事会认为：公司 2024 年半年度报告的编制和审议程序符合法律、 法规及《公司章程》等内部规章制度的规定；公司 2024 年半年度报告的内容与 格式符合相关规定，公允地反映了公司 2024 年半年度财务状况和经营成果等事 项；公司 2024 年半年度报告的编制过程中，未发现公司参与 2024 年半年度报告 编制和审议的人员有违反保密规定的行为；监事会全体成员保证公司 2024 年半 年度报告披露的信息真实、准确、完整，不存在任何虚假记载、误导性陈述或重 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。 证券代码：688543 证券简称：国科军工 公告编号：2024-053 江西国科军工集团股份有限公司 第三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 江西国科军工集团股份有限公司(以下简称"公司")于 2024 年 8 月 23 日以 现场方式召开第三届监事会第九次 ...

证券代码：688543 证券简称：国科军工 公告编号：2024-055 江西国科军工集团股份有限公司 2024 年度"提质增效重回报"行动方案 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。 为深入贯彻党的二十大、二十届三中全会和中央金融工作会议精神，落实《国 务院关于进一步提高上市公司质量的意见》、《国务院关于加强监管防范风险推动 资本市场高质量发展的若干意见》及《关于深化科创板改革服务科技创新和新质 生产力发展的八条措施》要求，江西国科军工集团股份有限公司（以下简称"公 司"）积极响应证券监管部门专项行动倡议，持续优化经营、改善治理，增强投 资者回报与投资者获得感，推动公司高质量发展和投资价值提升。基于对公司价 值的认可和未来发展前景的信心,公司特制定 2024 年度"提质增效重回报"行动 方案，主要举措如下： 一、聚焦主责主业，持续推动高质量发展 公司自成立以来，一直深耕于国防科技工业领域，专注于导弹（火箭）固体 发动机动力与控制产品及弹药装备的研发、生产与销售，以军用产品为主，辅以 少量民用产品业务。始终坚持国家利 ...

证券代码：688543 证券简称：国科军工 公告编号：2024-054 江西国科军工集团股份有限公司 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 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。 根据中国证券监督管理委员会《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》和上海证券交易所印发的《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》等相关规定江西国科军工集团股份 有限公司（以下简称"公司"、"本公司"或"国科军工"）董事会编制的2024 年半年度募集资金存放与实际使用情况专项报告如下： 一、募集资金基本情况 （一）实际募集资金金额及资金到账时间 经中国证券监督管理委员会证监许可［2023］1011号文《关于同意江西国科 军工集团股份有限公司首次公开发行股票注册的批复》的核准，江西国科军工集 团股份有限公司（以下简称"公司"或"本公司"）采用向社会公开发行人民币 普通股（A股）3667万股，发行价格为每股43.67元。截止2023年6月16日，本公 司实际已向社会公 ...

Financial Performance - The company reported a significant increase in revenue for the first half of 2024, achieving a total of 1.2 billion RMB, representing a growth of 15% compared to the same period last year[9]. - The company achieved operating revenue of 481,877,042.15 RMB, a year-on-year increase of 20.57%[14]. - Net profit attributable to shareholders reached 79,644,581.54 RMB, reflecting an 84.09% increase compared to the previous year[14]. - The total profit for the period was 93,026,200.00 RMB, a 72.72% increase compared to the same period last year[19]. - The company achieved a significant increase in R&D investment, totaling approximately ¥42.61 million, representing a 65.98% increase compared to the previous year[28]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in the first half of 2024, representing a 20% year-over-year growth[61]. - The net profit for the first half of 2024 reached CNY 83,102,384.33, up from CNY 47,185,220.43 in the previous year, indicating a growth of approximately 76%[157]. User Engagement and Market Expansion - User data indicates a rise in active users by 20%, reaching 500,000 users, which reflects the company's expanding market presence[9]. - The company has set a revenue guidance for the second half of 2024, projecting an increase of 10% to 1.32 billion RMB[9]. - The company is actively pursuing market expansion strategies, targeting a 25% increase in market share within the defense sector by the end of 2024[9]. - The company plans to enhance customer engagement through improved digital platforms, expecting a 10% increase in customer retention rates[62]. - Market expansion plans include entering three new international markets by Q4 2024[66]. Research and Development - Research and development expenditures have increased by 30%, totaling 150 million RMB, to support innovation in defense technologies[9]. - The company remains focused on the defense technology industry, emphasizing missile and rocket solid engine power and control products[19]. - The company has developed a comprehensive independent technology system in solid engine power modules, with 25 types of military standard products and 30 model research projects at the end of the reporting period[22]. - The company has successfully developed new high-energy insensitive propellants and other advanced materials, which are now being applied to next-generation missile products[32]. - The company filed 14 new patent applications during the reporting period, bringing the total number of authorized patents to 166, including 28 invention patents[27]. Financial Stability and Investments - The company maintains a strong cash position with 500 million RMB in liquid assets, ensuring financial stability for ongoing projects[9]. - The company has completed a strategic acquisition of a smaller defense firm, which is anticipated to contribute an additional 200 million RMB in annual revenue[9]. - The company has allocated RMB 225,000,000 for repaying bank loans, achieving a 100% investment progress in this category[134]. - The company has a cash management balance of RMB 684,826,338.05 from idle raised funds, with a portion in high-security, liquid investment products[137]. Environmental and Social Responsibility - The company invested approximately 979,800 RMB in environmental protection during the reporting period[51]. - The company implemented measures to reduce carbon emissions, achieving a reduction of approximately 164.39 tons of CO2 equivalent[53]. - The company has committed to fulfilling social responsibilities by enhancing consumption assistance and promoting rural revitalization[58]. - The company has engaged in vocational training to enhance the employability of young people[57]. Governance and Compliance - The company’s governance structure was confirmed to be compliant with relevant laws and regulations during the shareholder meetings[47]. - The company has committed to reducing and standardizing related party transactions to protect investor interests[108]. - The commitments made by the company are independently enforceable, and the invalidation of one does not affect the others[111]. - The company will ensure fair and reasonable pricing in any unavoidable related party transactions[113]. Shareholder Commitments and IPO - The controlling shareholder, Nanchang Jiahui, commits to not transferring or entrusting the management of shares for 36 months from the IPO date[68]. - The company will adhere to the "Stabilization Plan" and fulfill all obligations and responsibilities outlined within it[83]. - The company will ensure that any share reduction by board members will not occur within 6 months after leaving their positions[73]. - The company will bear legal responsibility for any false statements or omissions in the IPO application documents[99]. Operational Efficiency - The company plans to invest 810 million yuan in the development of solid rocket engine power modules to expand production capacity and support scale development[35]. - The company is expanding its production capacity through the automation of production lines, which is expected to enhance production efficiency[35]. - The company aims to strengthen daily operations management to increase sales scale and profit margins while optimizing production processes[90].

江西国科军工集团股份有限公司 第三届董事会第十次会议决议公告 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、董事会会议召开情况 江西国科军工集团股份有限公司(以下简称"公司")于 2024 年 8 月 23 日以 现场结合通讯方式召开第三届董事会第十次会议(以下简称"本次会议")。根据 《江西国科军工集团股份有限公司章程》（以下简称"《公司章程》"）的规定， 本次会议通知已于 2024 年 8 月 13 日以书面结合通讯方式发送。本次会议由公司 董事长毛勇先生召集和主持，应参会董事 7 名，实际参会董事 7 名。本次会议的 召集、召开和表决情况符合《中华人民共和国公司法》及有关法律法规的规定。 参会董事审议并以投票表决方式通过了以下议案： 二、董事会会议审议情况 全体董事对本次董事会会议议案进行了审议，经表决形成如下决议： （一）审议通过《关于 2024 年半年度报告及摘要的议案》 公司 2024 年半年度报告的编制和审议程序符合法律、法规及《公司章程》 等内部规章制度的规定；公司 2024 年半年度报告的内容与格式 ...