Financial Performance - In 2023, the company achieved an operating income of 1,258.16 million CNY, a year-on-year increase of 40.65% [2] - The net profit attributable to shareholders was 325.26 million CNY, up 33.83% compared to the previous year [2] - As of December 31, 2023, total assets reached 3,553.87 million CNY, an increase of 73.97% year-on-year [2] - The net assets attributable to shareholders amounted to 2,846.13 million CNY, reflecting a year-on-year increase of 68.89% [2] Future Growth Strategies - The company plans to focus on the industrial application of digital printing in textiles, aiming to provide cost-effective digital printing equipment and consumables [2] - The company is expanding into non-textile sectors, including digital book printing and decorative materials, with a goal to establish a solid foundation for future growth [3] - The company aims to complete the construction of a smart production factory with an area of approximately 260,000 square meters and an expanded capacity of about 5,520 units by 2024 [3] Investment and Capacity Expansion - The company’s fundraising project for an annual production of 2,000 sets of intelligent digital printing equipment has officially commenced production [3] - A new project for an annual production of 3,520 sets of intelligent digital printing equipment is under construction, with plans to complete equipment selection, installation, and debugging by the second half of 2024 [3] - The integrated production line project for digital printing ink and equipment is set to be completed by 2025, enhancing the company's competitiveness [3] Research and Development - In 2023, R&D investment was 90.10 million CNY, accounting for 7.16% of operating income, with a year-on-year increase of 51.51% [6] - The company employs 271 R&D personnel, making up 28.80% of the total workforce, and plans to continue increasing R&D investment in 2024 [6] Market Position and Product Development - The company’s ink products are increasingly replacing foreign counterparts, with a focus on high color yield and low wastewater discharge [5] - The company is actively exploring new business growth points in non-textile fields, including digital printing for books and decorative materials [6][7] - The company aims to enhance product competitiveness through continuous updates based on customer needs [5] Sales and Marketing - Sales expenses increased by 82.69% year-on-year due to more participation in exhibitions and increased personnel costs [6] - The company’s overseas sales primarily target South Asia and traditional textile countries in Europe, such as Italy [7][8] Employee Stock Ownership Plan - The company launched an employee stock ownership plan in April 2024, with performance indicators linked to net profit growth [9]

未经广发证券事先书面许可，任何机构或个人不得以任何形式翻版、复制、刊登、转载和引用，否则由此造成的一切不良后果及法律责任 由私自翻版、复制、刊登、转载和引用者承担。 业绩符合预期，员工持股计划落地 业绩符合预期。公司发布年报及一季报，23 年实现营业收入 12.58 亿 元，同比+40.65%；归母净利润 3.25 亿元，同比+33.83%。业绩符合 预期。24Q1 营业收入 3.68 亿元，同比+30.23%；归母净利润 8652 万 元，同比+34.95%。23 年公司毛利率 46.54%，同比-0.66pct；净利率 26.7%，同比-1.31pct，主要由于新并表业务毛利率低于主营业务，23 年主营业务数码喷印设备及墨水毛利率分别同比+1.74/2.10pct。 数码喷印设备高速增长，横向拓展进入缝纫设备及书刊数码印花行业。 分业务看，23 年实现数码喷印设备营业收入 6.12 亿元，同比+32.44%； 墨水收入 4.1 亿元，同比+8.17%，单吨价格 4.97 万元，同比下降 10.64%，墨水耗材价格下降有望推动数码印花设备渗透率提升。23 年 公司收购企业 Texpa 自动化缝纫设备合并形成 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][7]. Core Views - The company has shown steady growth in performance, with a 2023 revenue of 1.258 billion yuan, representing a year-on-year increase of 40.65%, and a net profit of 325 million yuan, up 33.83% year-on-year [3][4]. - The first quarter of 2024 saw a revenue of 368 million yuan, a year-on-year increase of 30.23%, and a net profit of 87 million yuan, up 34.95% year-on-year [3][4]. - The company has launched an employee stock ownership plan, reflecting confidence in its future development [5][10]. - The revenue forecast for 2024-2026 is adjusted to 1.730 billion, 2.288 billion, and 2.988 billion yuan, with year-on-year growth rates of 37%, 32%, and 31% respectively [7][12]. Financial Performance - The gross profit margin for 2023 was 46.54%, with a slight decrease of 0.66 percentage points year-on-year, while the net profit margin was 25.85%, down 1.32 percentage points year-on-year [8]. - The company’s digital printing equipment sales volume and price both increased in 2023, with revenue from digital printing equipment reaching 612 million yuan, a year-on-year increase of 32.44% [4][8]. - The company’s total market capitalization is approximately 12.92 billion yuan, with a current stock price of 107.28 yuan [4][12]. Business Segments - The digital printing equipment and ink segments have shown significant growth, with ink revenue reaching 411 million yuan, a year-on-year increase of 8.17% [4][8]. - The company has integrated two new businesses, TEXPA and Shandong Yingkejie, which focus on automated sewing equipment and high-speed digital printing equipment, respectively [4][8]. Profitability Forecast - The expected diluted earnings per share for 2024, 2025, and 2026 are 3.78 yuan, 4.88 yuan, and 6.44 yuan, respectively [12][15]. - The return on equity (ROE) is projected to increase from 11% in 2023 to 19% by 2026 [12][15].

风险提示：终端市场需求波动风险、海外市场风险、核心设备依赖外采风险、 在建产能建成及达产进度不及预期风险。 [Table_QuotePic] 相对指数表现 单位：百万元 2023A 2024E 2025E 2026E 3）数字化缝纫设备为 TEXPA 产品，目前处于市场开发初期，有望快速放量，同时在起量 后毛利率将快速提高。预计 2024-2026 年 TEXPA 订单同比增长 50%、20%、15%，毛利率分 别为 25%、28%、30%。 请务必阅读正文后的重要声明部分 2 请务必阅读正文后的重要声明部分 3 投资评级说明 | --- | --- | --- | --- | |----------|----------------|-------|---------------------------------------------------------------------| | | | | | | | | | | | 行业评级 | 跟随大市：未来 | 6 | 个月内，行业整体回报介于同期相关证券市场代表性指数 -5% 与 5% 之间 | | | 弱于大市：未来 | | 个月内，行业整体回报低于 ...

Financial Performance - Total operating revenue for Q1 2024 reached RMB 368,493,182.74, an increase of 30.2% compared to RMB 282,950,397.31 in Q1 2023[11] - Net profit for the period reached 89,830,881.46, compared to 67,599,507.54 in the prior year, reflecting a year-over-year increase of about 32.8%[30] - Total comprehensive income amounted to 88,482,397.47, an increase from 67,987,285.99 in the previous period, representing a growth of approximately 30.0%[25] - The net profit attributable to shareholders of the listed company was CNY 86,524,846.42, reflecting a growth of 34.95% compared to the same period last year[53] - Basic and diluted earnings per share were both 0.72, up from 0.54 in the same period last year, indicating a growth of 33.3%[25] - Basic and diluted earnings per share were both CNY 0.72, an increase of 33.33% from the previous year[53] Operating Costs and Expenses - Total operating costs for Q1 2024 were RMB 266,229,073.98, up 30.4% from RMB 204,044,796.30 in Q1 2023[11] - Research and development expenses for Q1 2024 amounted to RMB 23,747,449.99, representing an increase of 11.5% from RMB 21,284,982.91 in Q1 2023[11] - Research and development expenses totaled CNY 23,747,449.99, accounting for 6.44% of operating revenue, a decrease of 1.08 percentage points year-on-year[55] Cash Flow and Liquidity - Cash flow from operating activities generated a net inflow of 36,040,696.10, compared to 66,448,924.41 in the previous year, showing a decrease of approximately 45.6%[34] - Cash and cash equivalents at the end of the period totaled 829,604,106.71, down from 1,371,771,954.51, a decline of about 39.5%[27] - The company reported a net cash outflow from financing activities of -36,855,729.98, contrasting with a net inflow of 974,790,404.22 in the previous period[27] - The total cash inflow from financing activities was 368,069,691.41, down from 993,283,500.15, reflecting a decrease of about 63.0%[27] Assets and Liabilities - As of March 31, 2024, total assets amounted to RMB 3,570,265,443.10, showing a slight increase from RMB 3,553,872,356.51 as of December 31, 2023[20] - The total liabilities as of the end of Q1 2024 were RMB 609,760,402.70, a decrease from RMB 646,478,472.96 at the end of Q1 2023[10] - The total current liabilities decreased to RMB 546,554,617.29 in Q1 2024 from RMB 580,768,792.96 in Q1 2023, showing improved liquidity management[10] - The company reported a total current asset of RMB 2,259,428,277.32, down from RMB 2,375,922,898.55, indicating a decrease of approximately 4.9%[20] - The company's long-term equity investments increased significantly from RMB 59,344,193.84 to RMB 156,210,489.66, indicating a growth of approximately 163%[20] Shareholder Information - The number of shares held by the top shareholder, Ningbo Weixin Enterprise Management, is 17,250,000, representing 14.32% of total shares[2] - The company has no pledged shares among its top shareholders, indicating a stable ownership structure[2] - The company had a total of 3,069 common shareholders at the end of the reporting period[45] Government Support and Operational Performance - The company reported a VAT refund of RMB 3,066,510.42 and an additional VAT deduction of RMB 3,592,687.73, indicating strong operational performance[1] - The company reported a government subsidy of RMB 2,143,731.58, which positively impacted the current period's profit and loss[12] - The company is focusing on expanding its market presence and enhancing its product offerings, as indicated by ongoing investments in technology and development[12] Credit and Impairment - The company reported a credit impairment loss of -5,853,607.24, compared to -2,327,010.96 in the previous year, indicating a worsening in credit quality[30] - Interest income for the period was 10,120,301.85, slightly up from 9,995,395.62, indicating a growth of approximately 1.3%[30] - The company incurred interest expenses of 1,991,210.15, compared to 139,386.58 in the prior year, marking a significant increase[30] Non-Recurring Items - The company reported a non-recurring loss of CNY 19,094.47, impacting the overall financial results[42]

一、2023 年年审会计师事务所基本情况 （一）会计师事务所基本情况 天健会计师事务所（特殊普通合伙）成立于 2011 年 7 月 18 日，注册地址为 浙江省杭州市西湖区灵隐街道西溪路 128 号，首席合伙人为王国海先生，拥有财 政部颁发的会计师事务所执业证书，具有多年证券业务从业经验。截至 2023 年 12 月 31 日，天健会计师事务所（特殊普通合伙）合伙人数量为 238 人，注册会 计师 2,272 人，其中签署过证券服务业务审计报告的注册会计师 836 人。2023 年度上市公司（含 A、B 股）审计客户共计 675 家，收费总额人民币 6.63 亿元。 这些上市公司主要行业涉及制造业，信息传输、软件和信息技术服务业，批发和 零售业，电力、热力、燃气及水生产和供应业，水利、环境和公共设施管理业， 租赁和商务服务业，科学研究和技术服务业，金融业，房地产业，交通运输、仓 储和邮政业，采矿业，文化、体育和娱乐业，建筑业，农、林、牧、渔业，住宿 和餐饮业，卫生和社会工作，综合等。 （二）聘任会计师事务所履行的程序 公司第七届董事会审计委员会第三次会议、第七届董事会第六次会议及 2022 年年度股东大会审议 ...

Technology and Innovation - The company has developed an integrated model of equipment and ink with a competitive edge in technology, leveraging machine learning and data-driven control, achieving international advanced levels in performance metrics [15]. - The company has a stable and efficient operational model, backed by 30 years of experience in textile industry applications [15]. - The company has developed a high-speed digital printing device for books and periodicals, featuring capabilities such as "no plate making" and "high yield," significantly reducing costs compared to foreign counterparts [132]. - The company is advancing digital dyeing technology aimed at reducing water usage in textile dyeing, with ongoing testing of specialized micro-spray heads [133]. - The company is actively developing digital micro-spraying technology applicable across various industrial fields, including textiles and functional coatings, with a focus on cost reduction and efficiency [160]. - The company has completed the acquisition of 100% of Tianjin Jingli Digital Technology Co., Ltd. for 38 million RMB, along with an additional capital injection of 48 million RMB [148]. - The company has increased its investment in ink production lines to lower production costs and enhance core competitiveness [129]. - The company holds 255 valid patents, including 50 invention patents and 196 utility model patents, reflecting its commitment to innovation [134]. - In 2023, the company added 34 new patents, including 8 invention patents and 22 utility model patents, enhancing its technological leadership and innovation capabilities [163]. Financial Performance - The company reported a revenue of RMB 1.2 billion for the fiscal year 2023, representing a year-over-year increase of 15% [84]. - The company's operating revenue for 2023 reached ¥1,258,163,028.85, representing a 40.65% increase compared to ¥894,538,589.37 in 2022 [85]. - Net profit attributable to shareholders was ¥325,261,531.43, up 33.83% from ¥243,033,796.91 in the previous year [85]. - The net profit after deducting non-recurring gains and losses was ¥311,894,670.86, reflecting a 32.35% increase from ¥235,666,009.94 in 2022 [85]. - The gross margin improved to 40%, up from 35% in the previous year, due to cost optimization strategies [84]. - The company plans to distribute a cash dividend of 5.0 yuan per 10 shares (including tax), totaling 59,786,068.00 yuan based on the adjusted total share capital of 119,572,136 shares after repurchase [64]. - The board of directors approved a dividend payout of RMB 0.5 per share, reflecting a commitment to returning value to shareholders [84]. - The company's basic earnings per share for 2023 were reported at 2.74, while the diluted earnings per share were also 2.74 [54]. - The net cash flow from operating activities decreased by 12.35% to ¥157,187,732.20 from ¥179,331,191.10 in the previous year [85]. Market Strategy and Expansion - The company is expanding its market presence in Southeast Asia, targeting a 20% increase in sales from this region [84]. - A strategic acquisition of a local competitor was completed, which is anticipated to enhance the company's production capacity by 30% [84]. - The company is focusing on a "device first, consumables follow" business model, integrating the entire printing industry chain from ink to equipment [129]. - The company plans to continue expanding its product application areas and increasing production capacity to drive revenue growth [115]. - The company is preparing demonstration projects for decorative material digital printing equipment, targeting partnerships for deeper industry promotion [159]. - The company is actively expanding into various application fields such as book printing, building materials, and corrugated paper printing [128]. - The company plans to expand production capacity in the textile digital printing equipment sector and enter new fields such as packaging and decorative materials [182]. Corporate Governance and Compliance - The company has not faced any major accounting errors or non-standard audit opinions during the reporting period [6]. - The company has not reported any significant related party transactions or changes in major contracts during the reporting period [10]. - The company has not encountered any situations that could lead to delisting or bankruptcy restructuring [9]. - The company’s board of directors and management have confirmed the authenticity and completeness of the annual report, taking legal responsibility for its content [62]. - The company adheres to strict governance practices, ensuring compliance with laws and regulations to enhance operational efficiency [187]. Investment and Funding - The company has invested a total of RMB 50,339.99 million from its initial public offering, with a cumulative investment progress of 91.96% as of the reporting period [26]. - The company raised RMB 99,999.99 million through a private placement on January 16, 2023, with a cumulative investment progress of 57.22% [26]. - The company approved the use of raised funds amounting to RMB 113.79 million to replace self-raised funds for investment projects and issuance expenses [40]. - The company plans to use RMB 687.93 million of raised funds to increase capital in its wholly-owned subsidiary for the project of producing 3,520 sets of industrial digital printing equipment [41]. - The company has committed to not providing financial assistance for the stock incentive plan, ensuring no loans or guarantees for the recipients [3]. Shareholder Structure and Capital Changes - The total number of shares increased from 76,115,650 to 120,437,136 after the issuance of 6,944,444 new shares and a capital reserve conversion [51]. - The company’s total share capital after the capital increase was 120,437,136 shares, with a significant increase in the proportion of unrestricted circulating shares [47]. - The company’s shareholding structure shows that the proportion of restricted shares decreased from 44.92% to 41.12% after the recent changes [47]. - The total number of common shareholders increased to 3,092 by the end of the reporting period [93]. - The company has seen changes in its top ten shareholders, with new entries and exits impacting the shareholder structure [103]. Risk Management - The company reported no significant risks affecting its operations during the reporting period, ensuring a stable operational environment [63]. - The company has no overdue amounts in its entrusted wealth management activities [21]. - The company has no non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity [69]. Research and Development - Research and development expenses increased by 18%, focusing on innovative printing technologies [84]. - R&D investment reached 90.1 million RMB, accounting for 7.16% of revenue, with a year-on-year increase of 51.51% [134]. - The R&D team has grown to 271 members, representing 28.80% of the total workforce, reflecting the company's commitment to enhancing its research capabilities [160]. - The proportion of R&D investment in operating income is expected to remain a focus for future growth strategies [115]. - The company continues to increase R&D investment to promote product and technology innovation [128].

证券代码：688789 证券简称：宏华数科 公告编号：2024-017 杭州宏华数码科技股份有限公司 2023 年年度募集资金存放与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《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》 《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》和《上海证 券交易所科创板股票上市规则》等有关规定，杭州宏华数码科技股份有限公司（以 下简称"宏华数科""公司""本公司"）对 2023 年度募集资金存放和实际使用情况专项 报告说明如下： 一、募集资金基本情况 1、首次公开发行股票募集资金情况 根据中国证券监督管理委员会《关于同意杭州宏华数码科技股份有限公司首次 公开发行股票注册的批复》（证监许可〔2021〕1878 号），本公司由主承销商浙商 证券股份有限公司采用询价方式，向社会公众公开发行人民币普通股（A 股）股票 1,900 万股，发行价为每股人民币 30.28 元，共计募集资金 57,532.00 万元，坐扣承销 和保荐费用 4 ...

我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表 审计意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 目 录 一、内部控制审计报告…………………………………………第 1—2 页 内部控制审计报告 天健审〔2024〕4202 号 杭州宏华数码科技股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了杭州宏华数码科技股份有限公司（以下简称宏华数科公司）2023 年 12 月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》《企业内部控制应用指引》以及《企业内部 控制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是宏华 数科公司董事会的责任。 二、注册会计师的责任 二〇二四年四月二十六日 第 2 页 共 2 页 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于 情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低， 根据内部控制审计结果推测未来内部控制的有效性具有一定风险。 四、财务报告内部控制审计意见 第 1 页 共 2 ...

中信证券股份有限公司 关于杭州宏华数码科技股份有限公司 2023 年度募集资金存放与使用情况的专项核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为杭州宏华 数码科技股份有限公司（以下简称"宏华数科"或"公司"）2022 年度向特定投资 者发行 A 股股票及后续督导的保荐机构，根据《证券发行上市保荐业务管理办法》 《上海证券交易所科创板股票上市规则（2023 年 8 月修订）》《上海证券交易所上 市公司自律监管指引第 11 号——持续督导》及《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（2022 年修订）》等有关规定，对宏华数科 2023 年度募集资金的存放和使用情况进行了专项核查，核查情况如下： 一、募集资金基本情况 （一） 实际募集资金金额和资金到账时间 1、首次公开发行股票募集资金情况 根据中国证券监督管理委员会《关于同意杭州宏华数码科技股份有限公司首次 公开发行股票注册的批复》（证监许可〔2021〕1878 号），公司向社会公众公开发 行人民币普通股（A 股）股票 1,900 万股，发行价为每股人民币 30.28 元，共计募集 资金 57,532.00 ...