Investment Rating - The investment rating for the company is maintained at "Buy-A" with a target price of 14.88 CNY for the next six months [3][7]. Core Views - The company reported a revenue of 9.34 billion CNY for the first three quarters of 2024, representing a year-on-year increase of 10.5%, and a net profit attributable to shareholders of 650 million CNY, up 20.1% year-on-year [1][2]. - The growth in the automotive thermal management segment is expected to continue, driven by the increasing production and sales of new energy vehicles, which rose by 33.9% and 33.5% year-on-year respectively in Q3 [1][2]. - The cooling equipment and components revenue growth has slowed down due to a downturn in the air conditioning industry, but future policies promoting appliance upgrades may boost demand [1][2]. Financial Performance Summary - For Q3 2024, the company achieved a revenue of 2.99 billion CNY, a year-on-year increase of 4.1%, but the net profit attributable to shareholders decreased by 17.2% to 170 million CNY [1][2]. - The gross margin for Q3 was 18.6%, a slight decrease of 0.8 percentage points year-on-year, primarily due to price competition and rising raw material costs [1][2]. - The operating cash flow significantly improved, with a net cash flow of 280 million CNY in Q3, compared to a negative cash flow of 130 million CNY in the same period last year [2][7]. Earnings Forecast - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.83 CNY, 0.96 CNY, and 1.16 CNY respectively, indicating a positive growth trajectory [7][8]. - The company is expected to maintain a dynamic price-to-earnings ratio of 18 times for 2024, reflecting its growth potential [7][8]. Market Position - The company is recognized as a leading player in the refrigeration components industry, actively expanding its business in refrigeration equipment and new energy vehicle thermal management [7][8].

证券代码：002011 证券简称：盾安环境 浙江盾安人工环境股份有限公司投资者关系活动记录表 编号：2024-004 | --- | --- | |----------------------------|-------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 \n | □特定对象调研□分析师会议 \n□媒体采访 业绩说明会 \n□新闻发布会□路演活动 \n□现场参观 \n□其他（请文字说明其他活动内容） | | | 参与单位名称 景顺长城基金、博时基金、南方基金、中金基金、平安基金、招商基 | | | 金、西部利得基金、国联基金、华富基金、泰康基金、金鹰基金、国投 | | | 瑞银基金、恒越基金、宏利基金、上银基金、国泰基金、博道基金、天 风证券、广发证券、招商证券、华创证券、民生证券、西南证券、国信 | | | 证券、太平洋证券、中金公司、中国人寿资管、东方证券资管等机构 | ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's Q3 2024 performance was impacted by credit impairment losses, with a reported revenue of 2.99 billion yuan (up 4.09% year-on-year) and a net profit attributable to shareholders of 175 million yuan (down 17.18% year-on-year) [1] - The company expects a recovery in its core refrigeration parts business and continued contribution from its automotive parts business [1] - The forecast for revenue from 2024 to 2026 is 12.53 billion yuan, 13.78 billion yuan, and 15.06 billion yuan respectively, with year-on-year growth rates of 10.1%, 10.0%, and 9.3% [2][3] Revenue Analysis - Q3 revenue growth was primarily driven by the automotive parts segment, while the refrigeration parts segment showed signs of slowing down [1] - The company completed the acquisition of Shanghai Dacreat on August 7, which is expected to strengthen its automotive parts business [1] Profitability Analysis - Q3 gross margin was 18.6%, reflecting a slight decline due to rising copper prices, while the net profit margin was 5.8% [1] - After excluding the impact of credit impairment losses, the net profit margin would have been 7.9%, indicating a slight improvement [1] Financial Forecasts - The company’s net profit for 2024 is projected to be 913 million yuan, with a year-on-year growth of 22.5% [2][4] - The projected earnings per share (EPS) for 2024 is 0.85 yuan, with a price-to-earnings (P/E) ratio of 13.05 [2][4]

证券代码：002011 证券简称：盾安环境 公告编号：2024-049 浙江盾安人工环境股份有限公司 第八届董事会第十五次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、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 1、董事会会议通知的时间和方式 浙江盾安人工环境股份有限公司（以下简称"公司"）第八届董事会第十五次 会议通知于 2024 年 10 月 21 日以电子邮件方式送达各位董事。 2、召开董事会会议的时间、地点和方式 会议于 2024 年 10 月 25 日以现场加通讯表决方式召开。 3、董事会会议出席情况 本次会议应表决董事 8 名，实际参加表决董事 8 名，发出表决单 8 份，收到有 效表决单 8 份。高级管理人员和监事列席本次会议。 4、董事会会议主持人 经半数以上董事推举，会议由公司董事李建军先生主持。 5、本次董事会会议的合法、合规性 会议召集、召开符合《中华人民共和国公司法》等有关法律、法规和《浙江盾 安人工环境股份有限公司章程》的有关规定。 二、董事会会议审议情况 （一）审议通过《2024 年第三季度报告》。 具体内容详见公司于 2024 年 1 ...

证券代码：002011 证券简称：盾安环境 公告编号：2024-048 浙江盾安人工环境股份有限公司 关于 2024 年三季度计提信用减值准备、资产减值准 备的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 浙江盾安人工环境股份有限公司（以下简称"公司"）于 2024 年 10 月 25 日召开第八届董事会第十五次会议、第八届监事会第十三次会议审议通过了《关 于 2024 年三季度计提信用减值准备、资产减值准备的议案》。根据《深圳证券 交易所股票上市规则》和《浙江盾安人工环境股份有限公司章程》等相关规定， 现将本次计提信用减值准备、资产减值准备具体情况公告如下： 一、本次计提信用及资产减值准备的概述 （一）本次计提信用及资产减值准备的原因 注 1：其他应收款变动原因主要为单项计提浙江盾安节能科技有限公司出售节能业务项 下子公司股权形成的转让价款和子公司出表前往来款的坏帐准备 7,300 万元； 根据《企业会计准则》等相关规定及公司会计政策的要求，为了更加真实、 准确、客观地反映公司截止 2024 年 9 月 30 日的财务状况、资产价值及经营成 果，公司 ...

证券代码：002011 证券简称：盾安环境 公告编号：2024-050 浙江盾安人工环境股份有限公司 第八届监事会第十三次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确、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 1、监事会会议通知的时间和方式 浙江盾安人工环境股份有限公司（以下简称 "公司"）第八届监事会第十三 次会议通知于 2024 年 10 月 21 日以电子邮件方式送达各位监事。 2、召开监事会会议的时间、地点和方式 会议于 2024 年 10 月 25 日以现场结合通讯表决方式召开。 3、监事会会议出席情况 本次会议应表决监事 5 名，实际参加表决监事 5 名；发出表决单 5 份，收到有 效表决单 5 份。 4、监事会会议主持人 会议由监事会主席张伟先生主持。 5、本次监事会会议的合法、合规性 会议召集、召开符合《中华人民共和国公司法》等有关法律、法规和《浙江盾 安人工环境股份有限公司章程》的有关规定。 （一）审议通过《2024 年第三季度报告》。 具体内容详见公司于 2024 年 10 月 26 日刊登于《证券时报》、《证券日报》 和巨潮资讯网上的《20 ...

Financial Performance - The company's revenue for Q3 2024 reached ¥2,990,037,019.76, an increase of 4.09% compared to the same period last year[2]. - Net profit attributable to shareholders decreased by 17.18% to ¥174,851,259.56 in Q3 2024, while year-to-date net profit increased by 20.10% to ¥648,767,826.59[2]. - Total operating revenue for the current period reached ¥9,335,758,850.23, an increase of 10.55% compared to ¥8,445,423,720.16 in the previous period[16]. - Net profit for the current period was ¥644,667,509.26, representing a 20.19% increase from ¥536,173,689.87 in the previous period[17]. - The total profit for the current period was ¥749,695,459.00, compared to ¥637,547,876.04 in the previous period, showing a growth of 17.55%[17]. - Basic earnings per share rose to ¥0.61, compared to ¥0.51 in the previous period[18]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was ¥556,746,329.43, showing a significant increase of 282.14%[2]. - Cash flow from operating activities generated ¥5,169,863,623.82, compared to ¥4,235,309,772.19 in the previous period, indicating a positive cash flow increase[19]. - Cash and cash equivalents decreased by CNY 24,974,512.85, compared to an increase of CNY 149,810,478.57 in the previous year[7]. - The net decrease in cash and cash equivalents was -CNY 24,974,512.85, compared to an increase of CNY 149,810,478.57 previously[20]. - The ending balance of cash and cash equivalents was CNY 2,411,180,370.32, down from CNY 1,374,080,416.90 in the previous period[20]. Assets and Liabilities - Total assets as of the end of Q3 2024 amounted to ¥11,648,601,520.29, reflecting an 8.03% increase from the end of the previous year[2]. - The company's total liabilities increased to approximately 6.52 billion CNY from 6.40 billion CNY, representing a rise of about 1.83%[15]. - The company's equity attributable to shareholders increased by 16.01% to ¥5,124,656,374.08 compared to the end of the previous year[2]. - Current assets totaled approximately 9.27 billion CNY, compared to 8.78 billion CNY at the beginning of the period, indicating an increase of about 5.58%[13]. - The company's equity attributable to shareholders increased to approximately 5.12 billion CNY from 4.42 billion CNY, a growth of about 15.73%[15]. Investments and Acquisitions - The company plans to expand its market presence through acquisitions, including the purchase of equity in Shanghai Dachuang Automotive Technology Co., Ltd.[6]. - The company plans to acquire 62.95% of Shanghai Dacreat Automotive Technology Co., Ltd. for a total transaction price of 215 million CNY and will increase its capital by 30 million CNY[11]. - The performance commitment period for Shanghai Dacreat is set from 2024 to 2026, with a cumulative revenue target of 910 million CNY and a net profit target of 71 million CNY[11]. - As of the report date, the company has completed the equity transfer and capital increase registration procedures for Shanghai Dacreat[12]. Other Financial Metrics - The weighted average return on equity for the year-to-date period was 13.60%, a decrease of 0.15% compared to the same period last year[2]. - Financial expenses decreased by 74.57% to ¥7,003,204.00, attributed to structural and interest rate optimization[5]. - The company recorded a government subsidy of ¥8,892,314.82 during the quarter, contributing positively to its financial performance[3]. - The company experienced a credit impairment loss of ¥113,607,438.58, which increased from ¥28,580,141.85 in the previous period, indicating potential challenges in credit quality[17]. - The company recorded a foreign currency translation gain of CNY 20,567,941.65, a 345.97% increase due to exchange rate fluctuations[6].

证券代码：002011 证券简称：盾安环境 公告编号：2024-046 浙江盾安人工环境股份有限公司 第八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内容的真实、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 1、董事会会议通知的时间和方式 浙江盾安人工环境股份有限公司（以下简称"公司"）第八届董事会第十四次会 议通知于近日以电子邮件方式送达各位董事，全体参会董事对董事会召开日期无 异议。 2、召开董事会会议的时间、地点和方式 会议于 2024 年 10 月 10 日以现场加通讯表决方式召开。 3、董事会会议出席情况 本次会议应表决董事 8 名，实际参加表决董事 8 名，发出表决单 8 份，收到有 效表决单 8 份。高级管理人员和监事列席本次会议。 4、董事会会议主持人 经半数以上董事推举，会议由公司董事李建军先生主持。 5、本次董事会会议的合法、合规性 会议召集、召开符合《中华人民共和国公司法》等有关法律、法规和《浙江盾 安人工环境股份有限公司章程》的有关规定。 二、董事会会议审议情况 （一）审议通过《关于补选非独立董事的议案》。 因工作分工调整，邓晓博先生申 ...

证券代码：002011 证券简称：盾安环境 公告编号：2024-044 浙江盾安人工环境股份有限公司 经公司控股股东珠海格力电器股份有限公司提名及公司董事会提名委员会 审核通过，2024 年 10 月 10 日，公司召开了第八届董事会第十四次会议，审议 通过了《关于补选非独立董事的议案》，同意提名方祥建先生（简历附后）为公 司第八届董事会非独立董事候选人，任期自公司股东大会通过之日起至第八届董 事会届满之日止。提名方祥建先生为公司非独立董事不会导致董事会中兼任公司 高级管理人员的董事人数总计超过公司董事总数的二分之一。 特此公告。 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事长辞职情况 浙江盾安人工环境股份有限公司（以下简称"公司"）董事会于近日收到公司 董事长邓晓博先生的书面辞职报告。因工作分工调整，邓晓博先生申请辞任公司 董事、董事长及董事会专门委员会的职务。辞职后邓晓博先生不再担任公司任何 职务。 根据《中华人民共和国公司法》《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》等法律法规、规范性指引以及《浙江盾安人工 环境 ...

浙江盾安人工环境股份有限公司 章 程 第一章 总 则 浙江盾安人工环境股份有限公司 ZHEJIANG DUN'AN ARTIFICIAL ENVIRONMENT CO.,LTD 章 程 二〇二四年十月 | 1 | | --- | | - | | 第一章 | 总 则 3 | | --- | --- | | 第二章 | 经营宗旨和范围 4 | | 第三章 | 股 份 4 | | 第一节 | 股份发行 4 | | 第二节 | 股份增减和回购 5 | | 第三节 | 股份转让 7 | | 第四章 | 股东和股东大会 8 | | 第一节 | 股 东 8 | | 第二节 | 股东大会的一般规定 10 | | 第三节 | 股东大会的召集 12 | | 第四节 | 股东大会的提案与通知 13 | | 第五节 | 股东大会的召开 15 | | 第六节 | 股东大会的表决和决议 18 | | 第五章 | 董事会 22 | | 第一节 | 董 事 22 | | 第二节 | 董事会 25 | | 第六章 | 总裁及其他高级管理人员 30 | | 第七章 | 监事会 32 | | 第一节 | 监 事 32 | | 第二节 | 监事会 ...