证券代码:002096 证券简称:易普力 公告编号：2024-030 易普力股份有限公司关于 参加湖南辖区 2024 年度投资者网上集体接待日 活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 | --- | |----------------------------------------------------------------------------------| | | | 为进一步加强与投资者的互动交流，易普力股份有限公司（以下简称公司） | | 将参加由湖南证监局、湖南省上市公司协会与深圳市全景网络有限公司联合举办 | | 的"湖南辖区 2024 年度投资者网上集体接待日"活动，现将相关事项公告如下： | | 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 | | （ https://rs.p5w.net ），或关注微信公众号：全景财经，或下载全景路演 | | 参与本次互动交流，活动时间为 2024 年 10 月 10 日（星期四） | | 时公司高管将在线就公司 2023 年至 2024 半年度业绩、公司治理、发展 ...

446 | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|----------------------------------------|-------------------------------------------------------|----------------------| | 2024 年 09 月 08 日 \n易普力（ 002096.SZ ） \n精准拓展优化布局，盈利稳步增长 | 投资评级 | | 公司研究●证券研究报告 \n公司快报 \n基础化工 \| \n增持 | 民爆用品Ⅲ \n-B(维持) | | | 股价 | | | 元 | | | | (2024-09-06) | | 11.93 | | 投资要点 | | | | | ...

Group 1: Business Performance - The company's blasting service revenue increased by 6.75% year-on-year, accounting for 70.63% of total revenue, indicating an optimization of the business structure [2] - In Q2 2024, the company achieved a 20.38% quarter-on-quarter revenue growth and a 60.40% increase in net profit attributable to shareholders [2] - The company strategically exited low-efficiency markets, leading to a continuous increase in the proportion of blasting service revenue [2] Group 2: Market Expansion Strategies - The company has been deeply engaged in the Xinjiang and Tibet markets, focusing on large open-pit mining and national key engineering projects [1] - In Namibia, the company achieved stable growth in existing projects, with overseas revenue increasing by 9.58% year-on-year [2] - The company plans to enhance its market development efforts in Tibet, leveraging the region's strategic resources [3] Group 3: Technological Innovation - The company has established an innovation system that integrates research, production, and application, leading to breakthroughs in key technologies [3] - New technologies such as 5G, AI, and IoT are being applied to develop intelligent safety production management platforms [3] - The company is focusing on the development of new energy mining equipment and smart mining technologies [5] Group 4: Risk Management - The company has implemented a mechanism for collecting and analyzing policy information to manage macroeconomic risks [4] - A centralized procurement management system has been established to control raw material prices and ensure supply chain stability [4] Group 5: Long-term Growth Strategy - The company aims to become a leader in technological innovation within the blasting industry, focusing on both short-term performance and long-term development goals [4] - The company is committed to sustainable development practices, aligning with ESG principles and the "30·60" dual carbon goals [4]

%% %% 丨证券研究报告丨 公司研究丨点评报告丨易普力（002096.SZ） [Table_Title] 区域结构优化，看好新疆和西藏 报告要点 [Table_Summary] 2024H1 营业收入约 39.14 亿元，同比减少 2.15%；归属净利润约 3.51 亿元，同比增加 15.4%。 分析师及联系人 [Table_Author] 张弛 张智杰 袁志芃 SAC：S0490520080022 SAC：S0490522060005 SFC：BUT917 请阅读最后评级说明和重要声明 易普力（002096.SZ） cjzqdt11111 2024-09-09 相关研究 [Table_Title2] 区域结构优化，看好新疆和西藏公司研究丨点评报告 [Table_Rank]投资评级 买入丨维持 [Table_Summary2] 事件描述 2024H1 营业收入约 39.14 亿元，同比减少 2.15%；归属净利润约 3.51 亿元，同比增加 15.4%。 事件评论 ⚫ 爆破服务是核心边际还是支撑。分业务看：1、爆破服务 27.6 亿元，同比增长 6.8%；毛 利率 20.95%，同比提升 2.49 个 pc ...

Investment Rating - The report maintains a rating of "Buy" for the company [5] Core Views - The company, Yipuli, is a leading player in the civil explosives industry, benefiting from high demand in mining, energy, and water conservancy sectors due to favorable policies and market conditions [2][3] - The company has a strong market position and is expected to achieve stable growth driven by its integrated service model and expansion into western regions and overseas markets [3][6] Summary by Sections Company Overview - Yipuli is a leading civil explosives company in China, with a focus on integrated blasting services, production, and sales of explosives [16] - The company ranks second in production value and first in industrial explosives output among civil explosive manufacturers in 2023 [16] Industry Analysis - The civil explosives industry is supported by high demand from mining (70% of demand) and infrastructure projects (approximately 10%) [2] - The industry is experiencing improved supply dynamics due to policy-driven capacity reductions and increased concentration among leading firms [2] Business Analysis - The company’s integrated blasting service accounts for 63.7% of its revenue, with a focus on mining and infrastructure projects [26] - The company has a strong order book, with new contracts signed in 2023 amounting to 31.9 billion yuan, indicating robust future revenue potential [24] Financial Forecast - Revenue is projected to grow at a CAGR of 13.0% from 2024 to 2026, with net profit expected to increase by 20.7% in 2024 [6][7] - The company’s current PE and PB ratios are at historical lows, suggesting undervaluation relative to its growth potential [3][7] Growth Drivers - Key growth drivers include ongoing investments in mining and infrastructure projects, favorable commodity prices, and the company’s strategic expansion into western China and international markets [11][24]

| --- | |-------| | | | | | | | | 易普力(002096) 开拓高效市场+降本增效，推动公司业绩稳健增长 ◼ 走势比较 (30%) (16%) (2%) 12% 26% 40% 23/9/5 23/11/1724/1/2924/4/1124/6/2324/9/4 易普力 沪深300 ◼ 股票数据 总股本/流通(亿股) 12.4/12.4 总市值/流通(亿元) 147.61/147.61 12 个月内最高/最低价 (元) 15.27/8.59 相关研究报告 << 易普力（002096.SZ）： 新公司完 成首份答卷，公司有望步入新阶 段>>--2024-06-24 证券分析师：王亮 E-MAIL：wangl@tpyzq.com 分析师登记编号：S1190522120001 证券分析师：王海涛 E-MAIL：wanght@tpyzq.com 分析师登记编号：S1190523010001 事件：公司发布 2024 年半年报，2024 年上半年公司实现营业收入 39.14 亿元，同比下降 2.15%，归母净利润 3.51 亿元，同比增长 15.43%。 维持"买入"评级。 依靠高效市场 ...

[Table_MainInfo] 公司研究/化工/基础化工材料制品 证券研究报告 易普力（002096）公司半年报点评 2024 年 08 月 31 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | --- | |-------------------------------------------------------|------------| | 股票数据 | | | 08 [ Table_StockInfo 月 30 日收盘价（元） ] | 11.86 | | 52 周股价波动（元） | 8.59-15.27 | | 总股本 / 流通 A 股（百万股） | 1240/488 | | 总市值 / 流通市值（百万元） | 14712/5793 | | 相关研究 | | | [Table_ReportInfo] 《 23 年扣非净利润同比 +26.77% | ，受益于民 | | 爆行业集中度提高》 2024.06.05 | | 市场表现 [Table_QuoteInfo] -22.72% -11.72% -0.72% 10.28% 21.28% 32.28% 2023/9 ...

Investment Rating - The report maintains an "Outperform" rating for the company [6] Core Views - The company reported a revenue of 3.914 billion yuan for H1 2024, a slight year-on-year decrease of 2.15%, while net profit attributable to shareholders increased by 15.43% to 351 million yuan [5][6] - The company's Q2 2024 revenue was 2.138 billion yuan, showing a year-on-year decrease of 7.04% but a quarter-on-quarter increase of 20.38% [5] - The company has a robust order backlog, with new contracts signed or executed amounting to 6.93 billion yuan in H1 2024, indicating sustainable future revenue growth [6] Summary by Sections Financial Performance - For H1 2024, the company achieved a revenue of 39.14 billion yuan, with a net profit of 3.51 billion yuan, reflecting a year-on-year growth of 15.43% [5] - The average price of ammonium nitrate, a key raw material, decreased by 8.73% year-on-year to 2,612 yuan per ton [5] - The company's gross margin for Q2 2024 was 26.03%, an increase of 3.41 percentage points year-on-year [5] Market Position and Strategy - The company has strategically exited low-efficiency markets, which has contributed to the improvement in profitability [5] - The company is focusing on integrated services in the blasting industry, optimizing production and sales, and enhancing collaboration in engineering blasting services [6] - The company has secured numerous long-term contracts in resource-rich provinces, laying a solid foundation for future growth [6] Future Projections - The company is projected to achieve net profits of 761 million yuan, 906 million yuan, and 1.093 billion yuan for 2024, 2025, and 2026 respectively, with corresponding price-to-earnings ratios of 18, 15, and 13 [6][7]

Investment Rating - The report maintains a "Recommended" rating for the company, with a current price of 11.07 yuan [6]. Core Views - The company reported a revenue of 3.914 billion yuan for the first half of 2024, a year-on-year decrease of 2.15%, while the net profit attributable to shareholders increased by 15.43% to 351 million yuan [2][3]. - The growth in net profit significantly outpaced revenue due to cost reduction and efficiency improvements, with a notable scale effect in core market regions [3]. - The company is benefiting from the "Western Development" initiative, focusing on opportunities in Xinjiang and Tibet, and is also expanding its international business [5]. Summary by Sections Financial Performance - In Q2 2024, the company achieved a revenue of 2.138 billion yuan, down 7.04% year-on-year, but net profit rose by 23.75% to 216 million yuan [2]. - The revenue structure shows a decline in civil explosive products revenue by 21.7% to 961 million yuan, while blasting service revenue increased by 6.8% to 2.764 billion yuan [3]. - The gross margin for Q2 2024 was 26.03%, an increase of 3.41 percentage points year-on-year, with the blasting service gross margin at 20.95% [3]. Market Opportunities - Xinjiang's coal production maintained a double-digit growth rate, with a 15% year-on-year increase in the first seven months of 2024, leading to an increase in blasting service revenue [4]. - The company is strategically increasing its annual excavation and stripping plans for coal projects in Xinjiang, contributing to revenue growth in blasting services [4]. Future Projections - The company expects net profits for 2024, 2025, and 2026 to be 764 million, 889 million, and 1.008 billion yuan respectively, with corresponding dynamic PE ratios of 18x, 15x, and 14x [5]. - The report highlights a tight supply in the civil explosive industry and increasing demand from mining, supporting a positive outlook for the company's growth [5].

证券代号：002096 证券简称：易普力 公告编号：2024-027 易普力股份有限公司 关于2024年半年度募集资金存放与使用情况专项报告 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、募集资金基本情况 （一）募集资金金额及到位时间 经中国证券监督管理委员会《关于核准湖南南岭民用爆破器材股份有限公司向中 国葛洲坝集团股份有限公司等发行股份购买资产并募集配套资金的批复》（证监许可 [2023]32号），公司向特定对象发行A股117,147,856股，发行价格为11.43元/股，募 集资金总额为人民币1,338,999,994.08元，上述募集资金已于2023年4月19日汇入主 承销商指定收款银行账户，业经天职国际会计师事务所（特殊普通合伙）出具的《验 资报告》（天职业字〔2023〕24411号）审验。 2023 年 4 月 20 日，扣除发行费用（不含增值税）人民币 35,510,527.22 元，募 集资金净额为人民币 1,303,489,466.86 元，实收募集资金人民币 1,302,914,994.17 元，上述募集资金已于当日划入公司募集资金专 ...