证券代码：000837 证券简称：秦川机床 公告编号：2024-25 秦川机床工具集团股份公司 关于回购公司股份的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 秦川机床工具集团股份公司（以下简称"公司"）于 2024 年 3 月 15 日召开第 八届董事会第三十八次会议、2024年4月2日召开2024年第二次临时股东大会， 审议通过了《关于回购公司股份方案的议案》，同意公司使用自有资金以集中竞 价交易方式回购公司部分股份，资金总额不低于人民币 2,000 万元（含），不超 过人民币 4,000 万元（含），股份回购价格不超过人民币 13.5 元/股。回购期限自 公司股东大会审议通过本次股份回购方案之日起不超过 12 个月，具体回购数量 以回购期满时实际回购的股份数量为准，所回购的股份将用于股权激励或员工持 股计划。具体内容详见公司分别于 2024 年 3 月 16 日、2024 年 4 月 16 日在巨潮 资讯网（www.cninfo.com.cn）上披露的《秦川机床工具集团股份公司回购公司股 份方案的公告》（公告编号：2024-06）和《秦川机床工 ...

Investment Rating - The report maintains a "Hold" rating for Qin Chuan Machine Tool (000837) [1][9]. Core Views - The company's Q1 2024 performance showed a revenue of 981 million yuan, a year-on-year decrease of 2.62% but a quarter-on-quarter increase of 5.25%. The net profit attributable to shareholders was 25 million yuan, down 56.12% year-on-year but up 176.67% quarter-on-quarter, indicating that the performance met expectations [1][14]. - The gross margin for Q1 2024 was 16.78%, down 1.81 percentage points year-on-year, while the net margin was 3.39%, down 2.83 percentage points year-on-year. The expense ratio for the period was 16.10%, an increase of 0.34 percentage points year-on-year [2][14]. - The company aims for a revenue growth of no less than 15% in 2024, despite the challenges faced in the industry [15][16]. Summary by Sections Financial Performance - Q1 2024 revenue was 981 million yuan, down 2.62% year-on-year, but up 5.25% quarter-on-quarter. The net profit was 25 million yuan, down 56.12% year-on-year, but up 176.67% quarter-on-quarter [1][14]. - The gross margin was 16.78%, down 1.81 percentage points year-on-year, and the net margin was 3.39%, down 2.83 percentage points year-on-year [2][14]. Future Outlook - The company forecasts a compound annual growth rate (CAGR) of 17% in revenue from 2024 to 2026, with net profits expected to be 132 million yuan in 2024, 196 million yuan in 2025, and 277 million yuan in 2026 [16][17]. - The company is positioned as a leader in domestic gear machine tools, contributing to the localization of high-end five-axis machine tools [16][17].

Financial Performance - The company's revenue for Q1 2024 was ¥980,971,659.88, a decrease of 2.62% compared to ¥1,007,396,335.87 in the same period last year[6] - Net profit attributable to shareholders was ¥25,495,179.80, down 56.12% from ¥58,095,538.95 year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥4,499,123.89, a decline of 77.54% compared to ¥20,029,690.80 in the previous year[6] - Basic and diluted earnings per share were both ¥0.0252, representing a decrease of 60.99% from ¥0.0646[6] - Net profit for the quarter was CNY 33,279,499.75, compared to CNY 62,715,710.91 in the previous year, indicating a decline of about 46.9%[24] - Comprehensive income total for Q1 2024 was CNY 35,650,701.97, a decrease of 42.4% compared to CNY 61,971,215.37 in the previous year[44] Cash Flow - The net cash flow from operating activities was negative at ¥117,867,135.47, contrasting with a positive cash flow of ¥3,465,804.99 in the same period last year[6] - Cash flow from operating activities showed a net outflow of CNY 117,867,135.47, contrasting with a net inflow of CNY 3,465,804.99 in the same period last year[26] - The net cash flow from operating activities was -$117.87 million, a decrease of $121.33 million compared to the previous year[31] - The net cash flow from financing activities was -$60.61 million, a decrease of $176.36 million compared to the previous period[28] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,763,943,642.66, down 0.98% from ¥9,860,349,892.53 at the end of the previous year[6] - The company's total assets decreased from CNY 9,860,349,892.53 to CNY 9,763,943,642.66, a decline of approximately 1%[20] - Total current assets at the end of the period were CNY 5,575,767,990.24, a decrease of 2.7% from CNY 5,732,446,675.91 at the beginning of the period[41] - Total liabilities decreased to CNY 4,335,127,642.27 from CNY 4,468,045,226.53, reflecting a reduction of 3%[41] - The company's long-term liabilities due within one year decreased from CNY 166,906,745.74 to CNY 46,953,111.35, a reduction of about 72%[20] Shareholder Equity - Shareholders' equity attributable to the parent company increased by 0.58% to ¥4,792,371,513.02 from ¥4,764,771,133.99 at the end of the previous year[6] - Total equity attributable to shareholders of the parent company increased to CNY 4,792,371,513.02 from CNY 4,764,771,133.99, an increase of 0.6%[41] Investments and Expenses - The company invested CNY 283,800,000.00 in cash for investments during the quarter, compared to CNY 150,000,000.00 in the previous year, marking an increase of 89.2%[27] - Research and development expenses remained stable at CNY 44,444,037.12, slightly up from CNY 44,336,247.68, reflecting a focus on innovation[24] - The company reported a financial expense of CNY -1,519,230.44, a significant improvement from CNY 4,563,172.39 in the previous year[24] - Development expenditures increased by 31.66% to $78.48 million, reflecting increased R&D investment[31] - The financial expenses decreased significantly, with a reduction of $6.08 million due to lower interest expenses and increased interest income[31] Other Income and Gains - The company reported non-recurring gains of ¥20,996,055.91, primarily from government subsidies and asset disposals[10] - The fair value change income increased by 505.92% to $1.66 million, driven by gains from trading financial assets[31] - The company reported a significant increase in other income, up 271.94% to $481,711.97, due to the write-off of long-aged receivables by subsidiaries[31] Share Repurchase - The company repurchased a total of 1,844,902 shares, accounting for 0.1827% of the total share capital, with a total transaction amount of approximately $15.81 million[36] - The company plans to repurchase shares using between RMB 20 million and RMB 40 million, with a maximum repurchase price of RMB 13.5 per share[35] Market and Product Development - The company has not disclosed any new product developments or market expansion strategies in this report[6] - There were no significant mergers or acquisitions reported during this quarter[6]

Investment Rating - The report maintains a rating of "Accumulate" for the company [20]. Core Views - In the short term, the domestic substitution of high-end CNC machine tools combined with increased overseas export demand is expected to lead to a return to positive growth in 2024. In the medium to long term, the company is actively laying out in high-end machine tools, new energy vehicles, and humanoid robot industry chains, which is expected to expand its growth space [11][24]. - The company's revenue for 2024-2026 is projected to be 46.33 billion, 56.23 billion, and 67.09 billion yuan, with corresponding net profits of 1.90 billion, 2.70 billion, and 3.69 billion yuan, leading to EPS of 0.19, 0.27, and 0.37 yuan, and PE ratios of 45, 32, and 23 times respectively [11][12]. Financial Performance Summary - In 2023, the company achieved a revenue of 37.61 billion yuan, a year-on-year decrease of 8.29%, and a net profit attributable to shareholders of 52.26 million yuan, down 81.00% year-on-year. The fourth quarter of 2023 saw a revenue of 9.32 billion yuan, with a year-on-year decrease of 7.23% [23]. - The gross profit margin for 2023 was 17.7%, a decrease of 1.12 percentage points year-on-year, with the machine tool segment's gross margin at 16.72% [18]. - The company plans to raise no more than 1.23 billion yuan for projects including the innovation base for high-end industrial mother machines and the R&D of rolling functional components in the new energy vehicle sector [19].

证券代码：000837 证券简称：秦川机床 公告编号：2024-22 秦川机床工具集团股份公司 关于首次回购公司股份暨股份回购进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 秦川机床工具集团股份公司（以下简称"公司"）于 2024 年 3 月 15 日召开第 八届董事会第三十八次会议、2024年4月2日召开2024年第二次临时股东大会， 审议通过了《关于回购公司股份方案的议案》，同意公司使用自有资金以集中竞 价交易方式回购公司部分股份，资金总额不低于人民币 2,000 万元（含），不超 过人民币 4,000 万元（含），股份回购价格不超过人民币 13.5 元/股。回购期限自 公司股东大会审议通过本次股份回购方案之日起不超过 12 个月，具体回购数量 以回购期满时实际回购的股份数量为准，所回购的股份将用于股权激励或员工持 股计划。公司已在中国证券登记结算有限责任公司深圳分公司开立股份回购专用 证券账户，并披露《秦川机床工具集团股份公司回购报告书》，具体内容详见公 司分别于2024年3月16日和2024年4月16日在巨潮资讯网（www.cninfo.com ...

证券代码：000837 证券简称：秦川机床 公告编号：2024-21 秦川机床工具集团股份公司 回购报告书 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 重要内容提示： 1、回购股份基本情况 秦川机床工具集团股份公司（以下简称"公司"）拟使用自有资金以集中竞价 交易方式回购公司部分股份，回购资金总额不低于人民币 2,000 万元（含），不 超过人民币 4,000 万元（含），回购价格不超过人民币 13.5 元/股（含本数），本 次回购股份将用于股权激励或员工持股计划。本次回购股份的实施期限自股东大 会审议通过回购股份方案之日起 12 个月内。具体回购股份的金额和数量以回购 结束时实际回购的金额和股份数量为准。 2、回购股份审批程序 本次回购股份方案已经公司第八届董事会第三十八次会议及公司 2024 年第 二次临时股东大会审议通过。 3、回购专用证券账户的开立情况 公司已在中国证券登记结算有限责任公司深圳分公司开立了回购专用证券 账户。 4、风险提示 （1）如本次回购期限内公司股票价格持续超出回购股份方案披露的价格上 限，则存在本次回购股份方案无法实施或只能部分 ...

中信证券股份有限公司 关于秦川机床工具集团股份公司 2023 年度持续督导定期现场检查报告 查阅上市公司信息披露文件，投资者关系登记表，深圳证券交易所互动易网站披 露信息，重大信息的传递披露流程文件，内幕信息管理和知情人登记管理情况， 信息披露管理制度，会计师出具的内部控制审计报告，检索公司舆情报道，对高 级管理人员进行访谈。 | 1.公司已披露的公告与实际情况是否一致 | √ | | --- | --- | | 2.公司已披露的内容是否完整 | √ | | 3.公司已披露事项是否未发生重大变化或者取得重要进展 | √ | | 4.是否不存在应予披露而未披露的重大事项 | √ | | 5.重大信息的传递、披露流程、保密情况等是否符合公司 | √ | | 信息披露管理制度的相关规定 | | | 6.投资者关系活动记录表是否及时在深圳证券交易所互动 | √ | | 易网站刊载 | | | （四）保护公司利益不受侵害长效机制的建立和执行情况 | | 现场检查手段： 查阅公司章程及相关制度文件；查阅关联交易、对外担保、重大对外投资的明细， 查阅决策程序和信息披露材料，分析关联交易和重大对外投资的定价公允性；查 阅公司 ...

中信证券股份有限公司 关于秦川机床工具集团股份公司 2023年度保荐工作报告 | 保荐人名称：中信证券股份有限公司 | 被保荐公司简称：秦川机床 | | --- | --- | | 保荐代表人姓名：陈熙颖 | 联系电话：010-60836948 | | 保荐代表人姓名：孟德望 | 联系电话：010-60836857 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2．督导公司建立健全并有效执行规章制度的情况 | | | （1）是否督导公司建立健全规章制度（包括但不 | 是 | | 限于防止关联方占用公司资源的制度、募集资金 | | | 管理制度、内控制度、内部审计制度、关联交易 | | | 制度） | | | （2）公司是否有效执行相关规章制度 | 是，根据秦川机床2023年内控自我评价报告、 | | | 2023年度内部控制鉴证报告，发行人有效执行 | | | 了相关规章制度。 | | 3.募集资金监督情况 | | | （1）查询 ...

中信证券股份有限公司 关于秦川机床工具集团股份公司 2023 年度持续督导定期现场检查报告 保荐人名称：中信证券股份有限公司 （以下简称"中信证券"或"保荐人"） 被保荐公司简称：秦川机床 保荐代表人姓名：陈熙颖 联系电话：010-60836948 保荐代表人姓名：孟德望 联系电话：010-60836857 现场检查人员姓名：马博飞、孟德望、魏开元、陈骥腾 现场检查对应期间：2023 年 1 月 1 日-2023 年 12 月 31 日 现场检查时间： 2024 年 3 月 19 日：马博飞、孟德望、魏开元、陈骥腾 2024 年 3 月 25 日：孟德望 一、现场检查事项 现场检查意见 （一）公司治理 是 否 不适用 现场检查手段： 查阅了上市公司最新章程、三会议事规则及会议材料，取得上市公司董事、监事、 高级管理人员名单及其变化情况，取得上市公司关联方清单，查阅关于公司控股 股东、实际控制人、董事、监事、高级管理人员的信息披露文件及相关变更决策 文件，查看上市公司生产经营场所，对上市公司高管进行访谈。 1.公司章程和公司治理制度是否完备、合规 √ 2.公司章程和三会规则是否得到有效执行 √ 3.三会会议记录 ...

Investment Rating - The investment rating for the company is "Outperform" (Maintain) [3][13] Core Views - The company experienced significant revenue decline in 2023, with operating income of 3.76 billion yuan, down 8.29% year-on-year, and a net profit attributable to shareholders of 52 million yuan, down 81% year-on-year. This volatility is attributed to factors such as the bankruptcy liquidation of a subsidiary and increased depreciation from fixed asset investments [13][14] - Despite the short-term challenges, the company is expected to benefit from the domestic substitution of high-end CNC machine tools and the growing demand in the robotics industry. The company has a strong technological foundation and has seen a 77% increase in main engine exports in 2023 [5][13] - The company plans to raise up to 1.23 billion yuan for projects aimed at upgrading its product offerings, including a high-end industrial mother machine innovation base and rolling functional components for the new energy vehicle sector [5][13] Financial Summary - The company's financial performance shows a projected net profit of 131 million yuan in 2024, 178 million yuan in 2025, and 243 million yuan in 2026, reflecting a recovery from the low profit levels in 2023 [13][30] - The gross margin for 2023 was 17.8%, a decrease of 1.12 percentage points year-on-year, while the net profit margin was 1.8%, down 6.17 percentage points year-on-year [14][30] - The company’s earnings per share (EPS) are projected to improve from 0.05 yuan in 2023 to 0.24 yuan in 2026, indicating a positive trend in profitability [30]