| 证券代码：002111 | 证券简称：威海广泰 | 公告编号：2024-048 | | --- | --- | --- | | 债券代码：127095 | 债券简称：广泰转债 | | 威海广泰空港设备股份有限公司 关于签订销售合同的公告 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。 特别提示： 1、合同的生效条件：合同自双方签字盖章之日起生效。 2、本次签订的销售合同总金额 5451.97 万元，占公司 2023 年经审计营业收入 的 2.27%。若合同顺利实施，将增加公司本年度经营业绩，对公司经营成果影响的 最终结果以会计师事务所出具的年度审计报告为准。 3、本合同已正式签署并生效，合同双方均具有相应的履约能力，不存在法律 法规、履约能力、技术等方面的不确定性和风险，但在合同履行过程中，如遇外部 宏观环境发生重大变化、行业政策调整、市场环境变化等不可抗力或其他因素的影 响，可能会导致合同无法如期或全面履行，敬请广大投资者注意投资风险。 一、合同签署概况 1、基本情况 近日，威海广泰空港设备股份有限公司（以下简称"威海广泰"、"公司"） 收到全资子公司威 ...

Investment Rating - The report upgrades the company's investment rating to "Buy" due to strong recovery in domestic airport equipment business and robust momentum in electrification exports [9][20] Core Views - The company is expected to achieve net profit attributable to parent company of 301, 421, and 561 million yuan in 2024-2026, with year-on-year growth of 139%, 40%, and 33% respectively [9] - The company's airport equipment business achieved a 122% year-on-year increase in orders in H1 2024, reaching a record high [18] - The company's firefighting equipment subsidiary won a major contract worth 375 million yuan, accounting for 15.6% of 2023 revenue [18] Financial Performance - Revenue is expected to grow at 26.56%, 26.30%, and 25.06% in 2024-2026 [2] - Gross margin is projected to increase from 27.02% in 2023 to 34.56% in 2026 [2] - ROE is forecasted to rise from 4.00% in 2023 to 13.65% in 2026 [2] Business Development - The company has developed airport equipment technologies for various types of general aviation airports [4] - The company's heavy-duty multi-rotor drones and helicopter platforms have been selected for key application scenarios in Shandong Province [4] Valuation - The company's P/E ratio is expected to decrease from 45.96 in 2023 to 10.29 in 2026 [2] - The company's P/B ratio is projected to decline from 1.83 in 2023 to 1.35 in 2026 [2]

扭亏为盈 √同向上升 同向下降 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。 证券代码：002111 证券简称：威海广泰 公告编号：2024-047 债券代码：127095 债券简称：广泰转债 威海广泰空港设备股份有限公司 2024年半年度业绩预告 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、本期业绩预计情况 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 （一）业绩预告期间 假记载、误导性陈述或重大遗漏。 2024 年 1 月 1 日至 2024 年 6 月 30 日 （二）业绩预告情况 | --- | --- | --- | --- | |----------------|------------------------------------------------------------------------------------------------------|--------|----------------| | 项目 | 本报告期 本公司及董事会全体成员保证信 ...

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 16.44 CNY per share, indicating a potential upside of over 20% from the current price of 10.59 CNY [5][47]. Core Insights - The company is positioned as a leader in the airport equipment sector, benefiting from both domestic and international demand recovery, particularly in the context of the low-altitude economy and electric vehicle transformation [4][27]. - The company has achieved significant growth in international orders, with a 352% year-on-year increase in overseas orders amounting to 621 million CNY in 2023 [17][27]. - The financial outlook is optimistic, with projected revenues increasing significantly from 2,404.43 million CNY in 2023 to 3,263.37 million CNY in 2024, reflecting a growth rate of 35.72% [18][209]. Summary by Sections 1. Airport Equipment - The company holds a dominant market share in the domestic airport equipment sector, with over 50% market share in key products, and is entering a new phase of independent innovation [24][52]. - The company has diversified its business from a single industry to multiple sectors, including emergency rescue equipment, drone equipment, and mobile medical equipment, enhancing its overall business strength [11][33]. - The financial data indicates a temporary pressure on performance, but profitability is expected to recover, with a projected net profit of 349.39 million CNY in 2024 [18][29]. 2. Electric Transformation and International Expansion - The company has been at the forefront of electric airport equipment development since 2009, successfully entering international markets and establishing long-term partnerships with major global operators [17][120]. - The low-altitude economy policies are expected to significantly benefit the company, with a projected increase in demand for electric airport equipment [57][129]. - The company has signed its largest sales agreement to date, valued at approximately 800 to 1,000 million CNY, marking a significant milestone in its international sales efforts [154][156]. 3. Firefighting Equipment - The domestic market for firefighting equipment is experiencing stable growth, with the company maintaining a leading market position [40][195]. - The company has broken the monopoly of foreign patented technologies in the firefighting equipment sector, achieving a leading market position in various firefighting vehicles and emergency rescue equipment [74][90]. - The expected revenue growth for firefighting equipment is projected at 25% for 2024, indicating strong market demand supported by government policies [90][174]. 4. Mobile Medical Equipment - The mobile medical vehicle market is showing a clear growth trend, with the company positioned as a leading manufacturer in this sector, providing comprehensive emergency medical solutions [78][207]. - The global market for mobile medical vehicles is expected to grow significantly, with the company actively expanding its product offerings to meet diverse medical needs [79][181]. - The company has developed a range of mobile medical solutions, including mobile surgical vehicles and emergency medical response units, enhancing its competitive edge in the healthcare sector [207][208]. 5. Financial Forecast and Valuation - The company is expected to achieve net profits of 3.49 billion CNY, 4.79 billion CNY, and 7.03 billion CNY from 2024 to 2026, with corresponding P/E ratios of 16.10, 11.75, and 8.01 [47][209]. - The valuation analysis suggests a target market capitalization of 8.73 billion CNY for 2024, based on a 25x P/E ratio, reflecting the company's strong growth potential [47][209].

| 证券代码：002111 | 证券简称：威海广泰 | 公告编号：2024-046 | | --- | --- | --- | | 债券代码：127095 | 债券简称：广泰转债 | | 威海广泰空港设备股份有限公司 关于"广泰转债"恢复转股的提示性公告 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。 特别提示： 2024年7月9日 4、暂停转股时间：2024年7月2日至2024年7月11日 5、恢复转股时间：2024年7月12日 威海广泰空港设备股份有限公司（以下简称"公司"）因实施2023年度权益分派， 根据《威海广泰空港设备股份有限公司向不特定对象发行可转换公司债券募集说 明书》及相关规定，自2024年7月2日起公司可转换公司债券"广泰转债"暂停转股。 具体内容详见公司于2024年7月2日在《证券时报》《中国证券报》及巨潮资讯网 （http://www.cninfo.com.cn）上披露的《关于实施权益分派期间广泰转债暂停转股的 公告》。 根据相关规定，"广泰转债"将在本次权益分派股权登记日后的第一个交易日 （即2024年7月12日）起恢复转股。 敬请公 ...

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。 | 证券代码：002111 | 证券简称：威海广泰 | 公告编号：2024-044 | | --- | --- | --- | | 债券代码：127095 | 债券简称：广泰转债 | | 威海广泰空港设备股份有限公司 2023 年年度分红派息实施公告 3、本次实施的分配方案与股东大会审议通过的分配方案一致。 4、本次权益分派距离股东大会通过权益分派方案时间未超过两个月。 特别提示： 1、公司本次实施的利润分配方案为向除公司回购股份专用账户以外的其他 全体股东进行分红派息，即以扣除回购股份 15,975,093 股的股本 515,328,783 股为 基数每 10 股派现金 1.0 元（含税），不以资本公积金转增股本，不派送红股。 2、证券除权除息参考价的相关参数和公式：公司本次实际现金分红的总金额 =实际参与分配的股本×分配比例，即 51,532,878.30 元=515,328,783 股×1.0 元/股 ÷10；每股现金红利=本次实际现金分红的总金额÷本次变动前总股本（含回购股份）， 即 0.0969932 ...

| 证券代码：002111 | 证券简称：威海广泰 公告编号：2024-045 | | --- | --- | | 债券代码：127095 | 债券简称：广泰转债 | 威海广泰空港设备股份有限公司 关于2023年度权益分派调整可转债转股价格的公告 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。 根据《深圳证券交易所可转换公司债券业务实施细则》、《威海广泰空港设备 股份有限公司向不特定对象发行可转换公司债券募集说明书》及中国证券监督管 理委员会（以下简称"中国证监会"）关于可转换公司债券发行的有关规定，在本 次发行之后，当公司发生派送股票股利、转增股本、增发新股（不包括因本次发行 的可转债转股而增加的股本）、配股以及派发现金股利等情况时，公司将按下述公 式对转股价格进行调整（保留小数点后两位，最后一位四舍五入）： 派送股票股利或转增股本：P1=P0/（1+n） 增发新股或配股：P1=（P0+A×k）/（1+k） 上述两项同时进行：P1=（P0+A×k）/（1+n+k） 派发现金股利：P1=P0-D 特别提示： 一、关于"广泰转债"转股价格调整的相关规定 威海广泰 ...

| 证券代码：002111 | 证券简称：威海广泰 | 公告编号：2024-043 | | --- | --- | --- | | 债券代码：127095 | 债券简称：广泰转债 | | 威海广泰空港设备股份有限公司 关于 2024 年第二季度可转换公司债券转股情况的公告 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。 特别提示： 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指 引第15号——可转换公司债券》等有关规定，威海广泰空港设备股份有限公司（以 下简称"公司"）现将2024年第二季度可转换公司债券（以下简称"可转债"）转股及 公司股份变动情况公告如下： 一、可转债发行上市概况 1、可转债发行情况 经中国证券监督管理委员会《关于同意威海广泰空港设备股份有限公司向不 特定对象发行可转换公司债券注册的批复》（证监许可〔2023〕1972号）同意注册， 公司于2023年10月18日向不特定对象发行了7,000,000张可转换公司债券，每张面 值100元，发行总额70,000.00万元。 2、可转债上市情况 经深交所同意，公司70,000. ...

| 证券代码：002111 | 证券简称：威海广泰 | 公告编号：2024-042 | | --- | --- | --- | | 债券代码：127095 | 债券简称：广泰转债 | | 威海广泰空港设备股份有限公司 关于实施权益分派期间广泰转债暂停转股的公告 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。 特别提示： 1、债券代码：127095 2、债券简称：广泰转债 3、转股期起止日期：2024年4月24日至2029年10月17日 4、暂停转股时间：2024年7月2日至2023年度权益分派登记日 2024 年 7 月 2 日 附件： 《威海广泰空港设备股份有限公司向不特定对象发行可转换公司债券募集说 明书》中"转股价格的调整方式及计算公式"条款的规定： 在本次发行之后，当公司发生派送股票股利、转增股本、增发新股（不包括因 本次发行的可转债转股而增加的股本）、配股以及派发现金股利等情况时，公司将 按下述公式对转股价格进行调整（保留小数点后两位，最后一位四舍五入）： 派送股票股利或转增股本：P1=P0/（1+n） 增发新股或配股：P1=（P0+A×k）/（1+ ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for its stock performance in the upcoming year [22][35]. Core Insights - The aviation industry is experiencing a rapid recovery, leading to increased demand for airport equipment procurement [22]. - The company holds a leading market share in airport equipment, with over 50% market share in some key products, and is expanding its overseas market presence significantly [22][22]. - The company's revenue is projected to grow significantly, with estimates of 30.33 billion, 37.07 billion, and 44.89 billion yuan for the years 2024, 2025, and 2026 respectively [22][22]. Financial Projections - Main revenue (in million yuan) is forecasted to be 2,404 in 2023, increasing to 3,033 in 2024, 3,707 in 2025, and 4,489 in 2026, reflecting growth rates of 2.5%, 26.1%, 22.3%, and 21.1% respectively [9]. - Net profit attributable to shareholders (in million yuan) is expected to recover from a loss of 126 in 2023 to 307 in 2024, 416 in 2025, and 529 in 2026, with growth rates of -47.6%, 144.5%, 35.5%, and 27.1% respectively [9]. - The diluted earnings per share (in yuan) is projected to rise from 0.24 in 2023 to 0.58 in 2024, 0.78 in 2025, and 1.00 in 2026 [9]. Market Position and Strategy - The company is the only global player capable of providing all ground support equipment for a single airport, which enhances its competitive advantage [22]. - The overseas revenue share has increased from 1.34% in 2021 to 13.45% in 2023, driven by improvements in product performance and quality [22]. - The company is focusing on expanding its market share by strengthening sales promotions with major airlines and airports [22].