偿债能力 资产负债率 20.5% 22.7% 23.2% 33.2% | --- | --- | --- | |---------------------------------------------------------------------------------------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | 评级 | 说明 | | | 买入 | 预期未来 6~12 个月内相对同期基准指数涨幅在 15% 以上 | | | 增持 | 预期未来 6~12 个月内相对同期基准指数涨幅在 5%~15% 之间 | | 股票评级 | 持有 ...

Investment Rating - The report assigns a "Buy" rating for the company, predicting steady growth in performance due to the gradual implementation of projects [2]. Core Views - The company is a leading supplier of electronic bulk gases in China, with an increasingly complete helium supply chain. It aims to provide comprehensive solutions for the electronic semiconductor industry [2]. - The company reported a revenue of 1.835 billion in 2023, a year-on-year increase of 19.20%, and a net profit attributable to shareholders of 320 million, up 35.73% year-on-year. For Q1 2024, revenue was 461 million, a year-on-year increase of 11.33%, but net profit decreased by 10.18% [11]. - The company is actively expanding its electronic bulk gas projects and has seen growth in helium sales, although profits were pressured by declining helium prices in Q1 2024 [11]. Financial Summary - Revenue projections for 2024-2026 are 2.26 billion, 2.858 billion, and 3.655 billion, respectively, with corresponding growth rates of 23.11%, 26.49%, and 27.88% [14]. - The net profit attributable to shareholders is projected to be 350 million, 467 million, and 610 million for 2024-2026, with growth rates of 9.44%, 33.44%, and 30.67% respectively [14]. - The company’s diluted earnings per share (EPS) are expected to be 0.27, 0.35, and 0.46 for 2024-2026, with a price-to-earnings (PE) ratio decreasing from 35.27 in 2024 to 20.23 in 2026 [14].

北京市中伦(广州)律师事务所 广东省广州市天河区珠江新城华夏路 10号官力中心 9 23/F, Units 01 & 04 of 31/F, R&F Center, 10 Huaxia Road, Zhujia Tianhe District Guangzhou. Guangdong 510623. P. R. 电话/Tel : +86 20 2826 1688 传真/Fax : +86 20 2826 1666 关于广州广钢气体能源股份有限公司 2023 年年度股东大会的法律意见书 致:广州广钢气体能源股份有限公司 北京市中伦(广州)律师事务所(以下简称"本所")受广州广钢气体能源 股份有限公司(以下简称"公司")委托,指派本所律师陈竞蓬、周昊臻(以下 简称"本所律师"）出席公司 2023 年年度股东大会(以下简称"本次股东大 会")。本所律师根据《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》等有关法律、法规、规范性文件及《广州广钢气体能 源股份有限公司章程》(以下简称"《公司章程》")的规定,对公司本次股东 大会进行见证并出具法律意见。 为出具本法律意见书,本所律师审查了公 ...

证券代码：688548 证券简称：广钢气体 公告编号：2024-026 广州广钢气体能源股份有限公司 2023 年年度股东大会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2024 年 4 月 25 日 （二） 股东大会召开的地点：广州市荔湾区白鹤洞街道芳村大道东 2 号岭南 V 谷-鹤翔小镇创意园 B15 广州会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 33 | | --- | --- | | 普通股股东人数 | 33 | | 2、出席会议的股东所持有的表决权数量 | 852,052,551 | | 普通股股东所持有表决权数量 | 852,052,551 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 64.5788 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比 ...

2024 年 04 月 22 日 广钢气体 (688548) | --- | --- | |-------------------------------------------------|-------------------------------| | 市场数据： | 2024 年 04 月 19 日 | | 收盘价（元） | 9.4 | | 一年内最高 / 最低（元） | 17.8/8.62 | | 市净率 | 2.1 - | | 息率（分红 / 股价） 流通 A 股市值（百万元） | 2465 | | 上证指数/深证成指 | 3065.26/9279.46 | | 注："息率"以最近一年已公布分红计算 | | 一年内股价与大盘对比走势： " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " ...

【郑重声明】 2024 年 04 月 21 日 公司研究 评级：增持(维持) 事件: 当前价格（元） 9.40 最近市场走势 投资要点: 52 周价格区间（元） 8.62-17.80 电子大宗存量项目陆续实现商业化，新增中标项目产能行业领先。存量 方面，2023 年以来，合肥综保区、华星光电 t9、合肥长鑫二期、北京长 鑫集电、上海鼎泰匠心等多个电子大宗气体项目持续建设并陆续实现商 业化。增量方面，根据卓创资讯数据，2023 年，公司电子大宗气体业务 按收入计的国内市场份额达到 11.75%；按集成电路制造和半导体显示领 域新增项目中标产能计的国内市场份额达到 24.60%，仅次于液化空气 （份额 24.80%），新增项目包括西安欣芯、广州增芯、广州广芯、深圳 赛意法和北京赛莱克斯等，内资领先地位进一步得到巩固。 总市值（百万） 12,402.35 流通市值（百万） 2,464.71 总股本（万股） 131,939.85 流通股本（万股） 26,220.34 日均成交额（百万） 34.39 近一月换手（%） 50.69 《广钢气体（688548）2023 年年报点评：现场制 气收入明显增长，新增项目产能行业领 ...

Financial Performance - Basic earnings per share decreased by 37.50% due to an increase in the number of shares and a reduction in net profit attributable to the parent company[9]. - Diluted earnings per share also decreased by 37.50%, reflecting the same factors affecting basic earnings[9]. - Basic earnings per share decreased by 37.50% to CNY 0.05[19]. - Diluted earnings per share also decreased by 37.50% to CNY 0.05[19]. - Net profit attributable to shareholders decreased by 10.18% to CNY 67,153,749.05[30]. - The total comprehensive income attributable to the parent company was CNY 67,153,749.05, down from CNY 74,762,459.51, a decrease of about 10.8%[44]. - Net profit for Q1 2024 was CNY 67,380,525.88, down from CNY 73,671,209.56 in Q1 2023, representing a decrease of about 8.5%[42]. - Operating profit decreased to CNY 77,761,892.18 from CNY 94,351,342.97, indicating a decline of approximately 17.5% year-over-year[42]. - Earnings per share (EPS) for Q1 2024 was CNY 0.05, compared to CNY 0.08 in Q1 2023, reflecting a decrease of 37.5%[44]. Revenue and Expenses - Revenue for the period increased by 11.33% to CNY 460,972,839.32[30]. - Total operating revenue for Q1 2024 reached ¥460,972,839.32, an increase of 11.3% compared to ¥414,069,188.05 in Q1 2023[51]. - Total operating costs for Q1 2024 were ¥383,970,146.74, up from ¥318,780,800.36 in Q1 2023, reflecting a 20.5% increase[51]. - Research and development expenses totaled CNY 25,066,473.37, representing 5.44% of operating revenue, a decrease of 0.14 percentage points[19]. - Research and development expenses for Q1 2024 amounted to ¥25,066,473.37, compared to ¥23,110,390.38 in Q1 2023, reflecting a 8.5% increase[51]. Assets and Liabilities - Total assets increased by 2.46% to CNY 7,432,205,235.99 compared to the end of the previous year[19]. - Total liabilities increased to CNY 1,596,795,335.84 from CNY 1,487,244,975.94, reflecting a growth of approximately 7.4% year-over-year[37]. - The total liabilities and equity of the company as of Q1 2024 were ¥7,432,205,235.99, compared to ¥7,253,462,991.52 in Q1 2023[51]. - The total liabilities to equity ratio stands at approximately 0.27, indicating a stable leverage position for the company[37]. Cash Flow - Net cash flow from operating activities decreased by 6.05% to CNY 87,530,035.28[30]. - Cash inflow from operating activities totaled CNY 472,189,078.68, an increase from CNY 431,881,926.92 in the previous year, marking a growth of about 9.3%[44]. - Net cash flow from operating activities for Q1 2024 was ¥87,530,035.28, a decrease from ¥93,165,068.59 in Q1 2023[47]. - Net cash flow from investing activities for Q1 2024 was -¥381,144,457.03, compared to -¥157,643,714.36 in Q1 2023, indicating increased investment outflows[47]. - Net cash flow from financing activities for Q1 2024 was -¥22,766,817.40, a significant decrease from ¥310,697.29 in Q1 2023[47]. - The company's cash and cash equivalents at the end of Q1 2024 totaled ¥472,036,095.70, down from ¥788,478,436.71 at the beginning of the quarter[49]. - The net increase in cash and cash equivalents for Q1 2024 was -¥316,442,341.01, compared to -¥63,650,389.26 in Q1 2023[49]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,193, with the largest shareholder holding 20.66% of the shares[10]. - The largest shareholder, Guangzhou Industrial Investment Holding Group Co., Ltd., held 272,619,213 shares[10]. - The second-largest shareholder, Guangzhou Steel Holding Co., Ltd., held 251,916,518 shares, representing 19.09% of the total[10]. Compliance and Transparency - The report confirms that the financial data presented is accurate and complete, with no significant omissions[5]. - The company is committed to transparency and legal responsibility regarding the accuracy of its financial disclosures[15]. - The company has not identified any significant non-recurring gains or losses beyond those listed in the regulatory announcements[9]. Other Financial Metrics - Weighted average return on equity fell by 1.99 percentage points to 1.16%[19]. - Non-current assets totaled CNY 4,511,232,029.01, an increase from CNY 4,101,153,584.84 at the end of the previous year[35]. - The company's long-term borrowings decreased to CNY 576,090,665.91 from CNY 592,094,030.45, reflecting a reduction of approximately 2.7%[37]. - The company experienced a foreign exchange impact of -¥61,101.86 on cash and cash equivalents during the quarter[49].

广州广钢气体能源股份有限公司 2023 年年度股东大会会议资料 股票代码：688548 股票简称：广钢气体 广州广钢气体能源股份有限公司 2023 年年度股东大会 会议资料 2024 年 4 月 1 | 2023 | 年年度股东大会 会议须知 | 3 | | --- | --- | --- | | 2023 | 年年度股东大会 会议议程 | 5 | | 2023 | 年年度股东大会 会议议案 | 7 | | | 议案一：关于 2023 | 年度董事会工作报告的议案 7 | | | 议案二：关于 2023 | 年度监事会工作报告的议案 8 | | | 议案三：关于 2023 | 年年度报告及摘要的议案 9 | | | 议案四：关于 2023 | 年度财务决算报告及 2024 年度预算方案的议案 10 | | | 议案五：关于 2023 | 年度利润分配预案的议案 11 | | | 议案六：关于续聘公司 2024 | 年度审计机构的议案 12 | | | 议案七：关于 2023 | 年度董事、监事及高级管理人员薪酬方案的议案 15 | | | 议案八：关于 2024 | 年度公司申请银行授信额度的议案 17 | ...

Investment Rating - The report assigns a "Buy" rating for the company, with expected net profits for 2023-2025 projected at 350 million, 467 million, and 610 million respectively, corresponding to PE ratios of 38x, 28x, and 22x [3][10]. Core Views - The company focuses on electronic bulk gases, helium, and electronic specialty gases, aiming to become a world-class comprehensive gas company. It emphasizes technological innovation to enhance core competitiveness and provide greener, energy-efficient gas solutions. The gradual implementation of projects is expected to lead to steady growth in performance [3][10]. - The company reported a revenue of 1.835 billion in 2023, a year-on-year increase of 19.20%, and a net profit of 320 million, up 35.73% year-on-year. The growth is attributed to the ongoing construction and production of electronic bulk gas projects and an improved helium supply chain [19][26]. Financial Summary - Revenue projections for 2023-2026 are as follows: 1.835 billion (2023), 2.260 billion (2024), 2.858 billion (2025), and 3.655 billion (2026), with growth rates of 19.20%, 23.11%, 26.49%, and 27.88% respectively [12][14]. - The net profit forecasts for the same period are 320 million (2023), 350 million (2024), 467 million (2025), and 610 million (2026), with corresponding net profit growth rates of 35.73%, 9.44%, 33.57%, and 30.66% [12][14]. - The company has increased its R&D expenditure to 88.76 million in 2023, a 23.79% increase year-on-year, and has filed 39 patents, receiving 22 authorizations [26].

证券代码：688548 证券简称：广钢气体 广州广钢气体能源股份有限公司 投资者关系活动记录表 编号：2024-002 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 投资者关系活 □新闻发布会 □路演活动 动类别 □现场参观 电话会议 □其他 （请文字说明其他活动内容） China Merchants Fund Management Company, 参与单位名称 Limited 、 China Pacific Insurance(group) ...