证券代码：002139 证券简称：拓邦股份 公告编号：2024049 深圳拓邦股份有限公司 关于回购股份进展情况的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、回购方案基本情况 （1）自可能对本公司证券及其衍生品种交易价格产生重大影响的重大事项 发生之日或者在决策过程中，至依法披露之日内； 深圳拓邦股份有限公司（以下简称"公司"或"本公司"）于 2024 年 1 月 23 日召开的第八届董事会第六次（临时）会议审议通过了《关于回购公司股份方案 的议案》，公司拟使用自有资金以集中竞价交易方式回购公司股份，用于后期实 施的员工持股计划或股权激励，回购资金总额不低于人民币 3,000 万元且不超过 人民币 5,000 万元，回购价格不超过人民币 13.00 元/股（含），回购股份实施期 限为自公司第八届董事会第六次（临时）会议审议通过回购股份方案之日起 12 个月内。2024 年 1 月 24 日，公司披露了《回购股份报告书》，有关内容详见公 司刊登在《证券时报》和巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 公司于 202 ...

证券代码：002139 证券简称：拓邦股份 公告编号：2024048 本次变更后，研控自动化成为一人股份有限公司，公司持有研控自动化 100% 股权，研控自动化成为公司全资子公司。 深圳拓邦股份有限公司 关于股权收购进展暨完成工商变更登记的公告 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、股权收购交易概述 深圳拓邦股份有限公司（以下简称"公司"或"拓邦股份"）于 2024 年 5 月 29 日召开第八届董事会第十一次会议，审议通过了《关于收购研控自动化 剩余股权的议案》，同意公司使用 16,506.80 万元自有或自筹资金收购深圳研 控自动化科技股份有限公司（以下简称"研控自动化"）28.46%的股权。具体 内容详见公司于巨潮资讯网披露的《关于收购深圳研控自动化科技股份有限公 司剩余股权的公告》（公告编号：2024039）。 二、股权收购进展情况 近日，公司已完成了相关工商变更登记手续并取得了深圳市市场监督管理 局下发的《登记通知书》，公司已完成此次收购相关的股权变更工商登记事项。 三、股权变更情况 四、备查文件 1、 《登记通知书》； 2、 深圳研控 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [5]. Core Views - The IoT industry has shown significant recovery since the beginning of the year, with downstream replenishment and demand recovery leading to a notable increase in growth rates. The company achieved a revenue growth of 17.85% year-on-year in the first half of 2024 [4][3]. - The company's gross profit margin improved by 2.32 percentage points year-on-year in the first half of 2024, driven by the digestion of high raw material prices and reduced adverse effects from exchange rate fluctuations. The profitability is expected to continue to grow due to the introduction of high-value-added businesses and innovative products [4][3]. - The company has sufficient existing orders and high visibility for the second half of the year, which is expected to maintain stable growth. Forecasted net profits for 2024-2026 are projected to be 751 million, 924 million, and 1.112 billion yuan, representing year-on-year growth of 46%, 23%, and 20%, respectively [4][3]. Summary by Sections Financial Performance - In the first half of 2024, the company achieved a revenue of 5.016 billion yuan, a year-on-year increase of 17.85%. The net profit attributable to the parent company was 389 million yuan, up 50.68% year-on-year, while the net profit excluding non-recurring items was 373 million yuan, an increase of 46.85% year-on-year [3][4]. - In the second quarter of 2024, the company recorded a revenue of 2.698 billion yuan, marking a new high for quarterly revenue, with a quarter-on-quarter growth of 16.37% and a year-on-year growth of 19.31% [3][4]. Business Segments - The tools segment achieved a revenue of 1.959 billion yuan, a year-on-year increase of 20.90%. The home appliance segment generated 1.773 billion yuan, up 18.15% year-on-year. The new energy segment grew by 13.74%, and the industrial control segment saw a growth of 13.82% [6]. - The overseas production bases in Vietnam, India, Mexico, and Romania generated a combined revenue of 1.011 billion yuan, a year-on-year increase of 72.65%, with overseas revenue accounting for 20.16% of total revenue [4][6]. Profitability - The gross profit margin for the first half of 2024 was 23.90%, an increase of 2.32 percentage points year-on-year. The net profit margin for the second quarter was 8.00%, up 0.84 percentage points year-on-year [6]. - The company has effectively controlled costs, with a significant reduction in expense ratios across various categories, contributing to improved profitability [6].

证券研究报告 | 公司动态点评 2024 年 07 月 31 日 拓邦股份（002139.SZ） Q2 业绩表现亮眼，行业景气度持续回暖，看好公司长期稳健发展 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|--------|--------|--------|------------------------------------------|-----------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（维持评级） | | | 营业收入（百万元） | 8,875 | 8,992 | 10,773 | 12,960 | 15,642 | 股票信息 | | | 增长率 yoy （ % ） | 14.3 | 1.3 | 19.8 | 20.3 | 20.7 | | | | 归母净利润（百万元） | 583 | 516 | 722 | 930 | 1,198 | 行业 | 电 ...

证券研究报告 非金融公司 | 公司点评 | 拓邦股份 (002139) 2024 年半年报点评: Q2 营收创新高，盈利能力改善 请务必阅读报告末页的重要声明 2024年08月01日 证券研究报告 |报告要点 公司发布 2024 年半年度报告，营业收入为 50.16 亿元,同比增长 17. 85%;归母净利润为 3.89 亿元，同比增长 50.68%; 扣非归母净利润为 3.73 亿元，同比增长 46.85%。公司 Q2 营收单季 创新高，毛利率提升源于对老业务的降本增效，增加新产品提升盈利能力以及人民币小幅贬 值。海外基地布局成效凸显，四大板块业务营收均实现双位数增长。我们认为智能控制器行业 未来仍有较大发展机遇，公司为行业龙头，有望持续受益。 | 分析师及联系人 张宁 张建宇 SAC: S0590523120003 SAC: S0590524050003 请务必阅读报告末页的重要声明 1 / 5 非金融公司 | 公司点评 2024年08月01日 拓邦股份(002139) 2024 年半年报点评: Q2 营收创新高,盈利能力改善 投资要点 A 事件: | --- | --- | |------------- ...

证券代码：002139 证券简称：拓邦股份 深圳拓邦股份有限公司 2024 年 7 月 30 日、31 日、8 月 1 日投资者关系活动记录表 编号：2024010 特定对象调研 分析师会议 投资者关 媒体采访 业绩说明会 系活动类 新闻发布会 路演活动 别 其他： 7 月 30 日：20:30—21:30（电话会议） 天风证券、招商基金、创富兆业、太平资管、中国人保、中金公司、汇丰 晋信、承珞投资、睿远基金、海金投资、国联证券、招商证券、德邦基金、 华创证券、Regents Capital、长江证券、长城证券、博时基金、笃诚投资、 中银基金、鹏华基金、Pictet Asset Management、华安财保、枫瑞资管、筌 笠资管、创金合信、道合投资、泉果基金、永赢基金、泰信基金、前海登 程、世诚投资、中银国际、Rays Capital、兴合基金、中邮人寿、中欧基 参与单位 金、健顺投资、合众资产、中银国际、花旗、上海人寿、长城财险、圆信 名称、时 永丰、循远资管、中国人寿、彤源投资、银华基金、米仓资管、名禹资管、 间 华夏未来、东方证券、星元投资、正圆投资、国泰基金、富国基金、国泰 基金、瑞泉基金、沃胜私募 ...

证券代码：002139 证券简称：拓邦股份 公告编号：2024047 深圳拓邦股份有限公司 关于回购股份进展情况的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、回购方案基本情况 深圳拓邦股份有限公司（以下简称"公司"或"本公司"）于 2024 年 1 月 23 日召开的第八届董事会第六次（临时）会议审议通过了《关于回购公司股份方案 的议案》，公司拟使用自有资金以集中竞价交易方式回购公司股份，用于后期实 施的员工持股计划或股权激励，回购资金总额不低于人民币 3,000 万元且不超过 人民币 5,000 万元，回购价格不超过人民币 13.00 元/股（含），回购股份实施期 限为自公司第八届董事会第六次（临时）会议审议通过回购股份方案之日起 12 个月内。2024 年 1 月 24 日，公司披露了《回购股份报告书》，有关内容详见公 司刊登在《证券时报》和巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 购公司股份 10,342,300 股，占公司总股本比例的 0.83%，最高成交价为人民币 9.15 元/股，最低成交价为人民币 ...

公司报告 | 半年报点评 业绩快速增长各业务持续向好，不断提升盈利能力 事件：公司发布 2024 年半年报，24H1 实现营收 50.16 亿元，同比增长 17.85%，归母净利润 3.89 亿元，同比增长 50.68%，扣非归母净利润 3.73 亿元，同比增长 46.85%。24Q2 实现营收 26.98 亿元，创单季度新高，同比 /环比增长 19.31%/16.37%，归母净利润 2.13 亿元，同比/环比增长 31.85%/21.38%，扣非归母净利润 2.04 亿元，同比/环比增长 25.18%/20.32%， 24Q2 汇率同比波动较小，剔除汇兑损益影响扣非净利润同比大幅增长。 我们的点评如下： 行业景气度回升紧抓机遇，各业务板块持续向好 各业务板块来看——1）工具板块 ：24H1 行业景气度恢复，下游库存见底。 公司工具业务收入 19.59 亿元，同比增长 20.90%，毛利率 24.62%，同比提 升 1.12 个百分点。公司持续推动行业创新，发挥技术平台、产品平台优势， 基于不同的产品定位，为客户提供差异化方案，并拓展工具使用周边场景 的产品应用机会，同时公司凭借"出海"领先优势，以卓越的运营 ...

证券研究报告·公司点评报告·电子 拓邦股份（002139） 2024 年半年报业绩点评： 下游需求回暖，新 产品赋能新兴领域 2024 年 07 月 31 日 买入（维持） | --- | --- | --- | --- | --- | --- | |------------------------------|--------|---------|--------|--------|--------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 8875 | 8992 | 10063 | 10970 | 11950 | | 同比（ % ） | 14.27 | 1.32 | 11.91 | 9.02 | 8.93 | | 归母净利润（百万元） | 583.00 | 515.51 | 644.62 | 779.88 | 925.70 | | 同比（ % ） | 3.19 | (11.58) | 25.04 | 20.98 | 18.70 | | EPS- 最新摊薄（元 / 股） | 0.47 | 0 ...

Financial Data and Key Metrics - Revenue for H1 2024 reached 5.016 billion CNY, up 18% YoY, with net profit at 389 million CNY, a 51% YoY increase [3][12] - Q2 2024 set a record for single-quarter revenue, growing 19.31% YoY [3] - Gross margin improved to 23.9%, driven by technological innovation, higher-value products, and favorable currency effects [10][12] - Net margin doubled to 7.44%, despite impacts from overseas bases and new business investments [10] - Operating cash flow reached historical highs, with Q2 cash flow at 370 million CNY, up 270% QoQ [18] Business Line Performance - Tools segment revenue reached nearly 2 billion CNY, up 21%, accounting for 39% of total revenue [10] - Home appliances segment revenue grew 18% to 1.77 billion CNY, driven by smart and low-carbon upgrades [10] - New energy segment grew 14%, despite challenges in the lithium battery market [10] - Industrial segment, though smaller, showed rapid growth potential, particularly in robotics and motor technologies [11] Market Performance - Overseas sales accounted for 65% of total revenue, with overseas base revenue growing 73% YoY, contributing about 30% of overseas sales [3][12] - The company is expanding its global capacity, with overseas capacity expected to increase from 20% to 30-40% in the coming years [21] Strategic Direction and Industry Competition - The company is focusing on robotics, motor technologies (especially hollow-cup motors), and new energy applications like charging, inverters, and energy storage [6][11][24] - It is also exploring opportunities in smart home appliances and industrial automation, aiming for long-term growth in these sectors [11][26] - To mitigate the impact of US-China trade friction, the company has adjusted its global capacity layout, including expanding production in Vietnam and considering Mexico and Romania [23] Management Commentary on Operating Environment and Future Outlook - Management highlighted the company's strong market position and technological advantages, expecting stable growth across economic cycles [6][12] - The company is optimistic about the growth potential in the new energy sector, which is expected to become the largest segment within three years [26] - Management emphasized the importance of R&D investment, product competitiveness, and brand building to sustain long-term growth [12] Other Important Information - The company has implemented cost-reduction and efficiency-improvement measures, which have contributed to margin expansion [10] - It is actively preparing for market demand by optimizing production capacity and inventory management [21] Q&A Summary Q: What are the key highlights of the H1 2024 report? - Net profit grew 50%, exceeding the forecast range of 40%-60%, with revenue up nearly 20% and gross margin reaching 24.1%, a historical high [15] Q: How is the company ensuring sustainable growth in the smart controller industry? - The company has achieved three consecutive quarters of revenue growth, driven by overseas market performance and technological innovation [15] Q: What are the specific financial results for H1 2024? - Revenue was 5.016 billion CNY, up 18% YoY, with net profit at 389 million CNY, up 51% YoY [16] Q: How is the company's gross margin performing? - Gross margin improved to 23.9%, with net margin doubling to 7.44% despite rising costs from new business investments [17] Q: What are the growth strategies for the tools segment? - Growth is driven by increased market share with key clients, product line expansion, and entry into the garden tools market [20] Q: How is the company addressing US-China trade friction? - The company has adjusted its global capacity layout, including expanding production in Vietnam and considering Mexico and Romania [23] Q: What are the latest developments in hollow-cup motors for industrial robots? - The company has made early progress in hollow-cup motors, with applications in drones and robotics, and expects significant contributions in the next 2-3 years [24] Q: What is the long-term market outlook for the company? - The home appliances market is estimated at 60 billion CNY, with the company targeting a doubling of its current 4-5% market share [26] - The new energy sector is expected to become the largest segment within three years, driven by applications in charging, inverters, and energy storage [26]