上海市通力律师事务所 关于滁州多利汽车科技股份有限公司 2023 年年度股东大会的法律意见书 致: 滁州多利汽车科技股份有限公司 上海市通力律师事务所(以下简称"本所")接受滁州多利汽车科技股份有限公司(以下 简称"公司")的委托, 指派本所陈理民律师、赵伯晓律师(以下简称"本所律师")根据《中 华人民共和国公司法》《中华人民共和国证券法》《上市公司股东大会规则》等法律法规和规 范性文件(以下统称"法律法规")及《滁州多利汽车科技股份有限公司章程》(以下简称"公 司章程")的规定就公司 2023 年年度股东大会(以下简称"本次股东大会")相关事宜出具 法律意见。 本所律师已经对公司提供的与本次股东大会有关的法律文件及其他文件、资料予以了核 查、验证。在进行核查验证过程中, 公司已向本所保证, 公司提供予本所之文件中的所有签 署、盖章及印章都是真实的, 所有作为正本提交给本所的文件都是真实、准确、完整和有效 的, 且文件材料为副本或复印件的, 其与原件一致和相符。 在本法律意见书中, 本所仅对本次股东大会召集和召开的程序、出席本次股东大会人员 资格和召集人资格及表决程序、表决结果是否符合法律法规和公司章程的规定 ...

Summary of Conference Call Company/Industry Involved - The conference call was related to Zhongtai Securities, focusing on its formal signing with clients [1] Core Points and Arguments - The call highlighted the strategic importance of client relationships for Zhongtai Securities, emphasizing the need for strong partnerships to enhance service offerings [1] - Discussions included the company's growth trajectory and future plans, indicating a commitment to expanding its market presence and improving client engagement [1] Other Important but Possibly Overlooked Content - The call may have touched on the competitive landscape within the securities industry, although specific competitors were not mentioned [1] - There was an emphasis on the importance of adapting to market changes and regulatory environments, which could impact future operations and client interactions [1]

证券代码：001311 证券简称：多利科技 公告编号：2024-025 1、审议通过了关于子公司拟签署项目投资协议书暨对外投资的议案 表决结果：同意 9 票，反对 0 票，弃权 0 票。 详见刊登于 2024 年 5 月 9 日的《中国证券报》《证券时报》《上海证券报》《证 券 日 报 》《 经 济 参 考 报 》 及 深 圳 证 券 交 易 所 网 站 和 巨 潮 资 讯 网 （http://www.cninfo.com.cn/）上的《关于子公司拟签署项目投资协议书暨对外 投资的公告》（公告编号：2024-026）。 三、备查文件 滁州多利汽车科技股份有限公司 第二届董事会第十四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 滁州多利汽车科技股份有限公司（简称"公司"）第二届董事会第十四次会议 通知 2024 年 4 月 30 日以书面方式发出，会议于 2024 年 5 月 8 日在公司办公地点 召开。本次会议应出席董事 9 人，亲自出席董事 9 人。会议由董事长邓丽琴女士 主持，公司监事、高级管理人员和保荐机构代表列 ...

证券代码：001311 证券简称：多利科技 公告编号：2024-026 滁州多利汽车科技股份有限公司 关于子公司拟签署项目投资协议书暨对外投资的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、对外投资概述 1、基本情况 为促进业务发展，滁州多利汽车科技股份有限公司（简称"公司"）全资子公 司上海达亚汽车配件有限公司（简称"上海达亚"）拟与中国（上海）自由贸易试 验区临港新片区管理委员会签署《投资协议书》，计划总投资 90,000 万元在临港新 片区投资建设临港达亚汽车零部件智能化制造基地项目。 2、审议程序 1、投资协议主体的基本情况 名称：中国（上海）自由贸易试验区临港新片区管理委员会 主体类型：地方政府机构 与公司关联关系：该主体与公司及公司控股股东、实际控制人、董事、监事、 高级管理人员不存在关联关系。 2、中国（上海）自由贸易试验区临港新片区管理委员会信用状况良好，具有良 好的资信及履约能力，不属于失信被执行人。 三、协议主要内容 1、协议主体： 甲方：中国（上海）自由贸易试验区临港新片区管理委员会 乙方：上海达亚 2024 年 5 月 8 ...

Investment Rating - The report maintains a "Buy" rating for the company [12][14]. Core Insights - The company has shown robust growth in 2023, with total revenue increasing by 16.6% year-on-year, driven by significant sales growth from key clients such as Tesla and Li Auto, which saw increases of 38% and 182% respectively [2][9]. - The company is expanding its client base in the new energy sector, with nearly 60% of its revenue contribution coming from this segment since 2022 [2]. - Despite a slight revenue decline of 5.5% year-on-year in Q1 2024, the introduction of the "trade-in" policy is expected to boost automotive sales in the latter half of the year [2][9]. - The company has made significant progress in integrated die-casting, with a new production line in Yancheng achieving mass production and expected to contribute over 2 billion yuan in revenue over its lifecycle [7]. Financial Performance - In 2023, the company achieved a revenue of 3.913 billion yuan, with a net profit of 497 million yuan, reflecting a year-on-year growth of 11% [9]. - The projected revenues for 2024, 2025, and 2026 are 4.654 billion yuan, 5.539 billion yuan, and 6.596 billion yuan respectively, with corresponding net profits of 616 million yuan, 703 million yuan, and 833 million yuan [3][14]. - The company's gross margin for 2023 was 23.2%, slightly down from 24.5% in 2022, while the net margin was 12.7% [11][9]. Market Position and Strategy - The company is strategically positioning itself in the automotive parts industry, focusing on stamping and integrated die-casting, with a diverse product range of over 3,000 types of stamped components [7]. - The company has secured orders from leading automotive manufacturers, enhancing its market presence and revenue potential [7]. - A planned investment of 3 billion yuan in new capacity in Jiangsu is expected to contribute an additional 1.7 billion yuan in revenue upon reaching full production [7].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 47.70 CNY for the next six months [26]. Core Insights - The company achieved a revenue of 3.913 billion CNY in 2023, representing a year-on-year increase of 16.62%, and a net profit attributable to shareholders of 497 million CNY, up 11.05% year-on-year [1]. - The growth in revenue is primarily supported by increased sales from key customers Tesla and Li Auto, with their retail sales in China growing by 37.27% and 182.21% respectively in 2023 [1]. - The company has enhanced its production capacity and automated processes, which are expected to improve cost control and profitability [1]. - The company is expanding its business segments, particularly in lightweight automotive components, with a planned investment of approximately 3 billion CNY in a new project [1]. Summary by Sections Financial Performance - In Q4 2023, the company reported revenue of 1.166 billion CNY, a year-on-year increase of 21.01% and a quarter-on-quarter increase of 15.25% [1]. - The gross margin for 2023 was 23.21%, a decrease of 1.32 percentage points year-on-year, while the net margin was 12.67%, down 0.63 percentage points [1]. - The company expects a compound annual growth rate (CAGR) of 18.41% in net profit from 2024 to 2026 [1][12]. Capacity Expansion and Business Development - The company has established new subsidiaries to support production and has completed upgrades to its main production lines, enhancing capacity and automation [1]. - A new project for integrated die-casting components is expected to generate sales of approximately 2.1 to 2.3 billion CNY over its lifecycle, with production set to begin in 2025 [1]. - The company is also investing in a new project for precision automotive components with a total investment of about 3 billion CNY, projected to achieve annual sales of 1.7 billion CNY upon full production [1]. Earnings Forecast - The forecast for EPS from 2024 to 2026 is 3.18 CNY, 3.78 CNY, and 4.49 CNY respectively, with corresponding PE ratios of 12, 10, and 8 [1][12]. - Revenue projections for 2024, 2025, and 2026 are 4.528 billion CNY, 5.439 billion CNY, and 6.538 billion CNY, with growth rates of 15.72%, 20.12%, and 20.21% respectively [12][30].

Financial Performance - The company's revenue for Q1 2024 was ¥780,410,297.23, a decrease of 5.53% compared to ¥826,056,538.65 in the same period last year[5] - Net profit attributable to shareholders increased by 7.83% to ¥114,929,425.83 from ¥106,582,692.18 year-on-year[5] - Basic and diluted earnings per share decreased by 30.00% to ¥0.63 from ¥0.90 in the same period last year[5] - Total operating revenue for Q1 2024 was CNY 780,410,297.23, a decrease of 5.5% from CNY 826,056,538.65 in the same period last year[15] - Net profit for Q1 2024 was CNY 114,475,840.48, representing an increase of 7.1% compared to CNY 106,582,692.18 in Q1 2023[15] - Earnings per share (EPS) for Q1 2024 was CNY 0.63, down from CNY 0.90 in the previous year[16] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to ¥112,102,833.84, a 490.69% increase from a negative cash flow of ¥28,693,911.97 in the previous year[5] - Operating cash inflow for the current period was $798,867,101.32, an increase of 10% from $725,840,957.04 in the previous period[18] - Cash outflow from investing activities totaled $504,448,416.58, compared to $64,428,396.55 in the previous period, resulting in a net cash flow from investing activities of -$121,861,176.67[19] - Cash inflow from financing activities was $8,000,000.00, a decrease from $2,097,488,649.29 in the previous period, leading to a net cash flow from financing activities of -$39,449,954.80[19] - The ending cash and cash equivalents balance was $600,262,454.18, down from $1,698,434,623.29 in the previous period[19] - Cash received from other investment activities was $380,000,000.00, a significant increase from $882,500.00 in the previous period[18] - Cash paid for the purchase of fixed assets and other long-term assets was $124,448,416.58, up from $61,875,692.04 in the previous period[19] - The impact of exchange rate changes on cash and cash equivalents was $317,439.57, compared to a negative impact of $1,241,192.11 in the previous period[19] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥5,239,986,865.70, down 3.14% from ¥5,409,761,980.94 at the end of the previous year[5] - The company's total current assets amount to 2,921,881,262.87 CNY, a decrease from 3,147,388,620.13 CNY at the beginning of the period[13] - The total non-current assets are 2,318,105,602.83 CNY, an increase from 2,262,373,360.81 CNY at the beginning of the period[13] - The total liabilities decreased to CNY 840,111,475.92 from CNY 1,124,362,431.64 in the previous year[15] - The company's investment properties are valued at 3,323,121.85 CNY, down from 3,484,883.77 CNY[13] Shareholder Information - The total number of common shareholders at the end of the reporting period is 19,961[9] - The largest shareholder, Cao Dalong, holds 47.41% of the shares, totaling 87,100,000 shares, with 5,500,000 shares pledged[9] - The second-largest shareholder, Deng Liqin, holds 23.35% of the shares, totaling 42,900,500 shares, also with 5,500,000 shares pledged[9] Research and Development - Research and development expenses decreased by 37.92% to ¥17,464,945.96 from ¥28,131,818.99 year-on-year[7] - Research and development expenses decreased to CNY 17,464,945.96, down from CNY 28,131,818.99 year-over-year[15] Other Income and Investments - Investment income surged by 23,787.52% to ¥2,846,198.34 compared to ¥11,915.00 in the same period last year[7] - Other income increased by 706.69% to ¥3,721,104.39 from ¥461,281.65 year-on-year, primarily due to government subsidies[7] - The company reported a significant increase in investment income to CNY 2,846,198.34, compared to CNY 11,915.00 in the same period last year[15] Future Outlook - The company aims to enhance market expansion and product development strategies in the upcoming quarters[15] - The company’s cash flow statement is pending further details, indicating ongoing financial management efforts[17]

市场表现 [Table_QuoteInfo] -49.60% -36.60% -23.60% -10.60% 2.40% 15.40% 2023/4 2023/7 2023/10 2024/1 多利科技 海通综指 [Table_MainInfo] 公司研究/汽车与零配件/汽车零配件 证券研究报告 多利科技（001311）公司年报点评 2024 年 04 月 24 日 多利科技发布 2023 年年度报告。公司 2023 年实现营收 39.1 亿元，同比 +16.6%；实现归母净利润 5.0 亿元，同比+11.2%。其中 2023 年四季度实现 营收 11.7 亿元，同比+21.0%，环比+15.3%；实现归母净利润 1.1 亿元，同 比-16.6%，环比-21.2%。 积极布局一体化压铸业务，为业绩贡献增量。根据公司 2023 年中报，公司 已在江苏盐城、安徽六安布局了四条一体化压铸生产线，其中盐城 6100T 一 体化压铸生产线已投入使用，并实现量产销售。根据公司获得客户项目定点 的公告，公司将为国内某头部新能源车企提供一体化压铸后地板零部件，预 计将于 2025 年开始量产，生命周期内预计销售总金额约 21 ...

[Table_Title] 评级：买入（维持） 市场价格：34.47 元 [Table_Finance 公司盈利预测及估值 1] 指标 2022A 2023A 2024E 2025E 2026E 营业收入（百万元） 3,355 3,913 4,611 5,303 6,099 增长率 yoy% 21% 17% 18% 15% 15% 净利润（百万元） 446 497 608 712 839 增长率 yoy% 16% 11% 22% 17% 18% 每股收益（元） 2.43 2.70 3.31 3.88 4.57 每股现金流量 1.54 2.78 3.43 4.28 4.89 净资产收益率 24% 12% 13% 13% 13% P/E 14.2 12.8 10.4 8.9 7.5 P/B 3.4 1.5 1.3 1.1 1.0 备注：数据截至 2024/04/19 [Table_Profit] 基本状况 总股本(百万股) 184 流通股本(百万股) 47 市价(元) 34.47 市值(百万元) 6,333 流通市值(百万元) 1,608 多利科技(001311.SZ)/汽车 证券研究报告/公司点评 2024 年 ...

| --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------|--------------------|--------------------|---------------------------|---------------------------| | 2024 年 04 月 21 日 \n多利科技（ 001311.SZ ） | | | 公司研究●证券研究报告 | 公司快报 | | | | | 汽车 \| | 汽车零部件Ⅲ | | 行业景气叠加一体化压铸的持续推进，公司业绩预期向好 | 投资评级 | | 增持 -A( | 首次) | | 投资要点 | 股价 | (2024-04-19) | | 34.47 元 | | | 交易数据 | | | | | 事件内容： 4 月 18 日晚，公司披露 2023 年度报告。 2023 年公司实现营业收入 39.13 | 总市值（百万元） | | | 6,333.29 | ...