2024年3月14日 公司研究 全年销量创历史新高， Q4 归母净利润率环比止降转增 ——中信特钢（000708.SZ）2023 年年报业绩点评 要点 买入（维持） 当 前价：15.55元 事件：2023年公司实现营业收入1140.19亿元，同比+15.94%，归母净利润57.21 亿元，同比-19.48%；四季度，公司实现营业收入276.05亿元，同比+20.89%， 环比-1.72%，归母净利润13.47亿元，同比-13.77%，环比+0.93%，归母净利 作者 润率为4.88%，结束连续4个季度回落，环比+0.13pct。 分析师：王招华 执业证书编号：S0930515050001 2023年公司钢材销量同比+24.44%，吨钢毛利同比-16.93%。2023年钢材销量 021-52523811 为1889万吨，创历史新高，同比+24.44%，吨钢平均售价为6036元，同比 wangzhh@ebscn.com 分析师：戴默 -6.83%，吨钢毛利为793元，同比-16.93%；2023年下半年钢材销量为947万 执业证书编号：S0930522100001 吨，环比+0.49%，同比+26.24%，吨钢价 ...

证券研究报告 | 年报点评报告 2024年03月13日 中信特钢（000708.SZ） 受益制造业升级，业绩有望稳步回升 事件：公司发布2023年年度报告。公司实现营业收入1140.19亿元，同比上涨15.94%；归 买入（维持） 母净利润57.21亿元，同比下滑19.48%；基本每股收益1.13元。公司拟向全体股东每10股 股票信息 派发现金红利5.65元（含税）。 行业 特钢Ⅱ 利润降幅有限，毛利存改善预期。公司2023年营收首次破千亿，实现归母净利57.21亿元， 前次评级 买入 下降19.48%，实现扣非归母净利52.63亿元，下降13.41%；2023年钢铁企业普遍面临需求 3月13日收盘价(元) 15.55 转弱、原料成本高企等因素影响，公司归母利润降幅约两成，降幅有限体现出公司经营的韧性 总市值(百万元) 78,483.28 特征。公司2023Q1-Q4逐季销售毛利率分别为13.56%、13.68%、13.75%、11.49%，逐季 总股本(百万股) 5,047.16 销售净利率分别为5.38%、5.28%、4.96%、5.07%；随着钢铁产业进入成熟期，制造业转型 升级以及智能化直接带动特钢需 ...

Financial Performance - The company's operating revenue for 2023 was approximately ¥114.02 billion, representing a 15.94% increase compared to ¥98.34 billion in 2022[13]. - The net profit attributable to shareholders for 2023 was ¥5.72 billion, a decrease of 19.48% from ¥7.11 billion in 2022[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥5.26 billion, down 13.41% from ¥6.08 billion in 2022[13]. - The net cash flow from operating activities for 2023 was ¥10.66 billion, a decline of 20.67% from ¥13.43 billion in 2022[13]. - The total assets at the end of 2023 were approximately ¥116.51 billion, an increase of 28.35% from ¥90.77 billion at the end of 2022[13]. - The net assets attributable to shareholders at the end of 2023 were approximately ¥38.61 billion, a 6.43% increase from ¥36.28 billion at the end of 2022[13]. - The basic earnings per share for 2023 was ¥1.13, down 19.86% from ¥1.41 in 2022[13]. - The diluted earnings per share for 2023 was ¥1.11, a decrease of 19.57% from ¥1.38 in 2022[13]. - The company reported a net profit of ¥1.48 billion in Q1 2023, with a total operating revenue of ¥27.97 billion for the same quarter[16]. - The company's operating revenue for 2023 reached RMB 114.019 billion, a year-on-year increase of 15.94%, with a net profit attributable to shareholders of RMB 5.721 billion, and basic earnings per share of RMB 1.13[22]. Dividend Distribution - The company plans to distribute a cash dividend of 5.65 RMB per 10 shares to all shareholders, based on the equity distribution on the record date of the 2023 annual equity distribution[2]. - The company implemented a cash dividend plan for 2022, distributing RMB 7 per 10 shares, totaling RMB 2.85 billion, which represents 100% of the distributable profit[130][132]. - The company has a total of 6,026,224,994.11 yuan in distributable profits, with cash dividends accounting for the entire distribution[132]. - A cash dividend of ¥2,850,000,000.00 (including tax) will be distributed to shareholders, equating to approximately ¥5.65 per 10 shares based on the total share capital as of March 8, 2024[133]. Market Position and Product Development - The company reported significant changes in its main products, expanding from alloy steel bars to include alloy steel wires, special steel plates, and special seamless pipes[9]. - The company completed a major restructuring in 2019, acquiring 86.50% of Xincheng Special Steel, which significantly increased its market share[9]. - The company has an annual production capacity of approximately 20 million tons of special steel materials, supported by five specialized production bases[21]. - The company is positioned as a leading manufacturer of high-end bearing steel, with continuous global sales leadership for over a decade[21]. - The company successfully developed 30 new products, with key product sales increasing by 7.1%[23]. - The company established an energy steel division, achieving a 56% year-on-year increase in energy steel sales, while automotive steel sales grew by 20%[22]. - The company is focusing on high-end manufacturing technologies, particularly in sectors like new energy vehicles and clean energy, aiming for a leading market share in special steel products[81]. Research and Development - Research and development expenses reached ¥4,451,614,644.79, representing a 15.61% increase from ¥3,850,581,622.27 in 2022[44]. - The number of R&D personnel increased to 4,867, a rise of 33.20% from 3,654 in the previous year[44]. - The company received 472 authorized patents in 2023, including 122 invention patents, and participated in 29 provincial-level projects[22]. - The company is committed to accelerating technological research and development, particularly in high-temperature alloys, high-end molds, and special stainless steels, to improve market competitiveness[76]. Environmental and Sustainability Initiatives - The company has been recognized as a "green development benchmark enterprise" in the steel industry, with several subsidiaries achieving ultra-low emissions certification[23]. - The company was awarded the "Steelie Life Cycle Assessment Excellence Award" for its low-carbon evaluation standard, the first of its kind in the special steel sector[23]. - The company has installed a total of 123 MW of photovoltaic capacity, generating 115 million kWh of green electricity annually, reducing carbon emissions by 78,000 tons[157]. - The company has implemented a wastewater treatment system that allows for minimal external discharge, aiming for zero discharge[153]. - The company has made significant investments in environmental management and pollution control technologies, enhancing its environmental performance[153]. Governance and Compliance - The company emphasizes the importance of risk awareness for investors regarding forward-looking statements and potential risks[2]. - The company’s financial report has been confirmed for accuracy and completeness by its management team, including the CEO and accounting heads[2]. - The company maintains a complete and independent operational structure, with no significant unfair related transactions reported[95]. - The company has established an independent financial accounting system and management, ensuring compliance with regulations[95]. - The company’s governance structure aligns with the requirements set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange[94]. Strategic Outlook - The company aims to achieve a total sales volume of 19.2 million tons in 2024, including 2.8 million tons for export[80]. - The company plans to enhance its product structure by focusing on high-end seamless steel pipes and special steel products, aiming for rapid growth in "two high and one special" products[80]. - The company anticipates a stable demand for steel in the energy sector, with a positive outlook for the special steel industry driven by China's manufacturing policies[73]. - The company is proactively managing environmental risks by enhancing its pollution control measures and aligning with "clean production" policies[87]. Shareholder Relations - The company held meetings to approve the reallocation of raised funds on August 18, 2023, and disclosed the decision on August 19, 2023[67]. - The company emphasized its commitment to improving investor relations management and ensuring investor rights during the reporting period[93]. - The company has actively engaged with investors through various channels, including roadshows and analyst meetings, to address inquiries and provide updates[93]. Acquisitions and Mergers - The company successfully acquired 60% of Tai Fu Steel Pipe in February 2023, making it a wholly-owned subsidiary, which increased its seamless steel pipe capacity to 5 million tons[71]. - The company is considering strategic acquisitions to enhance its product portfolio and market presence, with a budget of 2 billion CNY allocated for potential mergers[165]. Legal and Regulatory Matters - The company reported a total of 109 ongoing litigation cases with a total amount involved of 44,058.4 million yuan, of which 26,449.6 million yuan remains unresolved[190]. - The company has not faced any major penalties or rectification issues during the reporting period[192]. - The company has maintained a clean integrity status for its controlling shareholders and actual controllers, with no significant unfulfilled court judgments[193].

| 关于本报告 | 1 | | --- | --- | | 董事长致辞 | 3 | | 志在鸿冶，百炼成钢 | | | 公司简介 | 5 | | 企业文化 | 6 | | 年度大事记 | 7 | | 2023 年企业重要荣誉 | 9 | | ESG 管治 | 11 | | 专题故事 | | | --- | --- | | 数智特钢，灯塔引航 | 17 | | 深化党建引领，传承红色基因 | 25 | | 风华兴澄，三十而立 | 29 | | | | | 夯实企业管治 | 35 | | --- | --- | | 加强合规风控 | 37 | | 商业道德建设 | 39 | | 保护信息安全 | 43 | | 铸造国之重器 | | | --- | --- | | | 02 02 | | 驱动科技引领引擎 | | | 推动创新研发 | 47 | | 聚焦产品质量 | 54 | | 保障服务质效 | 57 | 0303 赋能绿色制造 稳步实现双碳目标 报告范围 | 应对气候变化 | 67 | | --- | --- | | 深化绿色管理 | 72 | | 低碳生产运营 | 78 | | 绿色产品研发与创新 | 86 ...

证券代码：000708 证券简称：中信特钢 公告编号：2024-014 中信泰富特钢集团股份有限公司 第十届监事会第八次会议决议公告 本公司及其监事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 中信泰富特钢集团股份有限公司（以下简称"公司"）第十届监 事会第八次会议（以下简称"本次会议"）于 2024 年 2 月 28 日以书 面、邮件方式发出通知，于 2024 年 3 月 12 日在中信特钢大楼 22 楼 会议室召开，会议应到监事 5 人，实到监事 5 人，公司部分高级管理 人员列席会议。公司监事会主席郏静洪先生主持了会议，本次会议的 召集和召开程序符合《中华人民共和国公司法》及《中信泰富特钢集 团股份有限公司章程》的有关规定。 二、监事会会议审议情况 经会议审议表决，通过了如下决议： 1.审议通过了《2023 年度监事会工作报告》； （详细内容见同日巨潮资讯网http://www.cninfo.com.cn 上刊 载的《2023 年度监事会工作报告》） 本议案尚需提交股东大会审议。 表决结果：同意 5 票、反对 0 票、弃权 0 票。 2.审 ...

根据《中华人民共和国公司法》《中华人民共和国证券法》 《独立董事管理办法》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》《国有企业、上市公司选聘会计 师事务所管理办法》和《公司章程》等规定和要求，中信泰富特钢 集团股份有限公司（以下简称"本公司"）董事会审计委员会本着 勤勉尽责的原则，恪尽职守，认真履职。现将董事会对会计师事务 所 2023 年度履职评估及董事会审计委员会履行监督职责的情况汇报 如下： 一、2023 年年审会计师事务所履职情况 2023 年初，本公司与前任会计师事务所的合同期满，为保证审 计工作的独立性、客观性及公允性，并综合考虑公司业务发展和未 来审计服务需求，于 2023 年 7 月 12 日与毕马威华振会计师事务所 （特殊普通合伙）（以下简称"毕马威华振"）签订了 2023 年度审 计业务约定书（以下简称"审计业务约定书"）。毕马威华振已经 按照审计业务约定书，遵循中国注册会计师审计准则和其他执业规 范及中国注册会计师职业道德守则，结合财政部对本公司年度财务 决算的统一工作要求，对本公司 2023 年度财务报表及 2023 年 12 月 31 日的财务报告内部控 ...

一、公司经营业绩 中信泰富特钢集团股份有限公司 2023 年度财务决算报告 1.主要财务指标情况 2023年公司实现营业收入1,140.19亿元，较上年同期增长15.94%； 营业成本990.38亿元，较上年同期增长18.11%；四项期间费用78.73 亿元，较上年同期增长29.33%；实现归母净利润57.21亿元，比上年 同期下降19.48%；净利润率5.02%，比上年同期下降2.20个百分点； 每股收益1.13元/股，比上年同期下降0.28元/股；净资产收益率15.54%， 比上年同期下降5.42个百分点。 2.期间费用情况 1 项 目 单位 2023 年 2022 年 （已追溯调整） 同比增减 营业收入 万元 11,401,880 9,834,471 15.94% 营业成本 万元 9,903,833 8385,329 18.11% 四项期间费用 万元 787,310 608,738 29.33% 归母净利润 万元 572,119 710,538 -19.48% 净利润率 % 5.02 7.22 降低 2.20 个百分点 基本每股收益 元/股 1.13 1.41 降低 0.28 元/股 净资产收益率 % ...

募集资金 2023 年度存放与实际使用情况 专项报告的鉴证报告 寺钢集团股份有限公司 中 020200094 KPMG Huazhen II P 8th Floor. KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 +86 (10) 8518 5111 kpmg.com/cn Internet 毕马威华振会计师事务所 (特殊普通合伙) 中国北京 东长安街1号 东方广场毕马威大楼8层 邮政编码:100738 电话 +86(10)8508 5000 传真 +86(10)8518 5111 网址 kpmg.com/cn 对中信泰富特钢集团股份有限公司 募集资金 2023 年度存放与实际使用情况专项报告的鉴证报告 毕马威华振专字第 2400117 号 中信泰富特钢集团股份有限公司董事会: 我们接受委托,对后附的中信泰富特钢集团股份有限公司(以下简称"贵公司") 募集资 金 2023 年度存放与实际使用情况专项报告(以下简称"专项报告") 执行了合理保证的鉴证业 务，就专 ...

中信泰富特钢集团股份有限公司 1、出席董事会会议情况 报告期内，本人作为公司第九届董事会独立董事，应出席3次董事 会会议、3次股东大会会议，未出现连续两次未亲自出席董事会会议的 情况。 | | | | | 对董事会审议 | | | --- | --- | --- | --- | --- | --- | | 姓名 朱正洪 | 本年应参加 董事会次数 3 | 亲自出 席次数 3 | 委托出席 次数 0 | 对会议议案的 投票情况 的议案均投同 意票 | 备注 | 2023 年，出席董事会会议的情况如下： 在每次召开董事会前，公司董事会秘书及董事会办公室按照法定 时间向本人提供了会议资料，并介绍了相关情况。本人在认真阅读会 议资料，熟悉实际情况的基础上，出席每次会议，认真审议每项议案， 并对相关议案发表了审查意见，为董事会决策尽职尽责；在审议公司 利润分配方面，听取公司及股东相关意见，在董事会会议上，发表了 审查意见。 2、在董事会各专委会的工作情况如下： 独立董事 2023 年度述职报告 各位股东： 根据《上市公司独立董事管理办法》和《中信泰富特钢集团股份 有限公司章程》（以下简称"《公司章程》"）的规定，我作为 ...

证券代码：000708 证券简称：中信特钢 公告编号：2024-017 中信泰富特钢集团股份有限公司 关于子公司兴澄特钢向参股公司湖北中航冶钢特种钢材有限公 司提供担保额度暨关联交易的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示：本次被担保对象为中信泰富特钢集团股份有限公司（以 下简称"公司"）关联参股公司湖北中航冶钢特种钢材有限公司，其最近 一期财务报表数据显示资产负债率超过 70%。公司及其控股子公司无逾 期担保、涉及诉讼的担保及因担保被判决败诉而应承担损失的情况，敬 请投资者注意相关风险。 一、提供担保事项概述 公司的全资子公司江阴兴澄特种钢铁有限公司（以下简称"兴澄特 钢"）拟对公司参股公司湖北中航冶钢特种钢材有限公司（以下简称"湖 北中航"）提供不超过人民币 1.2 亿元融资担保，具体情况如下： 公司子公司兴澄特钢对参股公司湖北中航持股 40%，湖北中航因经 营发展所需，拟向银行等金融机构申请不超过人民币 3 亿元授信。授信 需要股东方兴澄特钢与中国航空工业供销中南有限公司（以下简称"中 航中南"）按持股比例提供担保。其中公司子公司 ...