北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 关于上海汉钟精机股份有限公司 2024 年第一次临时股东会的 法律意见书 国枫律股字[2024]A0594 号 致：上海汉钟精机股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出 席并见证贵公司 2024 年第一次临时股东会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》 （以下简称"《股东大会规则》"）、《律师事务所从事证券法律业务管理办法》 （以下简称"《证券法律业务管理办法》"）、《律师事务所证券法律业务执业 规则（试行）》（以下简称"《证券法律业务执业规则》"）等相关法律、行政 法规、规章、规范性文件及《上海汉钟精机股份有限公司章程》（以下简称"《公 司章程》"）的规定，就本次会议的召集与召开程序、召集人资格、出席会议人 员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 对本 ...

本公司及董事、监事、高级管理人员保证公告内容真实、准确和完整，公告不存在 虚假记载、误导性陈述或重大遗漏。 重要提示： 一、 会议召开情况 2024 年第一次临时股东会决议公告 证券代码：002158 证券简称：汉钟精机 公告编号：2024-038 上海汉钟精机股份有限公司 2024 年第一次临时股东会决议公告 1、 会议时间 通过深圳证券交易所交易系统进行网络投票的具体时间为 2024 年 12 月 6 日 9:15—9:25、9:30—11:30 和 13:00—15:00； 通过深圳证券交易所互联网投票系统投票的具体时间为 2024 年 12 月 6 日 9:15—15:00 期间的任意时间 2、 股权登记日 2024 年 11 月 29 日 3、 会议召开地点 上海市金山区枫泾镇建贡路 108 号 4、 会议召集人 公司董事会 5、 会议主持人 公司董事长余昱暄先生 1 本次股东会以现场投票与网络投票相结合的方式召开 本次股东会召开期间没有增加、否决或变更议案情况发生 本次股东会不涉及变更前次股东会已通过的决议 （1）现场会议时间：2024 年 12 月 6 日下午 15:30 （2）网络投票时间：2 ...

编号：2024-11-004 证券代码：002158 证券简称：汉钟精机 上海汉钟精机股份有限公司投资者关系活动记录表 | --- | --- | |-------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Group 1: Company Overview - The company reported a revenue of 2.857 billion CNY for the first three quarters of 2024, a year-on-year decrease of 1.71% [2] - The net profit attributable to shareholders for the same period was 721 million CNY, showing a year-on-year increase [2] Group 2: Product Segments Refrigeration Products - The refrigeration segment includes commercial central air conditioning compressors, frozen refrigeration compressors, and heat pump compressors [2] - Commercial central air conditioning compressors are primarily used in supermarkets, energy-efficient buildings, and infrastructure projects [2] - Heat pump products are growing rapidly but currently have a low base impact; future growth is expected with the advancement of carbon policies and new product launches [2] Air Compression Products - Air compressors are mainly used in industries such as pharmaceuticals, chemicals, electronics, and mining [2] - The company is focusing on promoting high-end applications of oil-free compressors, which have higher added value compared to traditional oil-lubricated compressors [2] Vacuum Products - Vacuum products are primarily used in the photovoltaic and semiconductor industries, with significant applications in crystal pulling and battery cell processes [3] - The photovoltaic sector is currently under pressure, particularly in the crystal pulling segment, while the battery cell segment is performing relatively better [3] Group 3: Financial Insights - The company experienced some foreign exchange gains in the first three quarters, but full-year projections remain uncertain [3] - Capital expenditures will be adjusted based on market demand [3] Group 4: Investor Relations Activity - The investor relations activity included specific object research, site visits, and online communication [2] - Participants included various financial institutions such as Huachuang Securities and Yuanfeng Fund [2]

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [10]. Core Insights - The company, Hanzhong Precision Machinery, reported a revenue of 2.857 billion yuan for the first three quarters of 2024, reflecting a year-on-year decrease of 1.71%. However, the net profit attributable to shareholders increased by 6.11% to 721 million yuan [12]. - The company's compressor business shows steady growth, while the photovoltaic vacuum pump segment is experiencing short-term pressure due to a slowdown in downstream expansion [12][13]. - The report anticipates revenue growth for the company from 2024 to 2026, with projected revenues of 3.892 billion yuan, 3.984 billion yuan, and 4.350 billion yuan, respectively [14]. Financial Performance Summary - For Q3 2024, the company achieved a revenue of 1.022 billion yuan, down 10% year-on-year and 6% quarter-on-quarter. The net profit for the same period was 271 million yuan, a decrease of 14% year-on-year and 11% quarter-on-quarter [12]. - The gross margin for the first three quarters was 40.74%, an increase of 0.67 percentage points year-on-year, while the net margin was 25.32%, up 1.88 percentage points year-on-year [12]. - The company’s earnings per share (EPS) for 2024 is projected to be 1.67 yuan, with a price-to-earnings (P/E) ratio of 11.21 [14][16]. Business Segment Analysis - The refrigeration compressor business is primarily used in commercial central air conditioning, refrigeration, and heat pump applications, showing stable growth despite some pressure from the real estate market [13]. - The air compressor segment has significant potential for equipment upgrades in the domestic market, which could provide new growth opportunities for the company [13]. - The photovoltaic vacuum pump business is under pressure due to a slowdown in the photovoltaic industry, but the semiconductor vacuum pump segment is gradually advancing towards import substitution [13]. Earnings Forecast and Valuation - The forecast for the company's net profit for 2024, 2025, and 2026 is 893 million yuan, 911 million yuan, and 1.006 billion yuan, respectively, indicating a growth rate of 3.25%, 2.04%, and 10.37% [14]. - The report provides a valuation with projected P/E ratios of 11.21, 10.99, and 9.96 for the years 2024, 2025, and 2026 [14].

编号：2024-11-002 证券代码：002158 证券简称：汉钟精机 上海汉钟精机股份有限公司投资者关系活动记录表 | --- | --- | |-------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活动 类别 | ☑ 特定对象调研 □分析师会 ...

编号：2024-11-001 证券代码：002158 证券简称：汉钟精机 上海汉钟精机股份有限公司投资者关系活动记录表 | --- | --- | |-------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The investment rating for the company is "Buy" [1][8][14] Core Views - The company has shown resilience in profitability despite pressure on the photovoltaic vacuum pump demand, with a slight increase in net profit year-on-year [4][5][6] - The company is expanding its product categories and market areas through strategic investments, including a partnership with Hangzhou Changhe Power Technology Co., Ltd. and the establishment of a wholly-owned subsidiary in the United States [7][8] Financial Performance Summary - The company reported a revenue of 28.57 billion yuan for the first three quarters of 2023, a year-on-year decrease of 1.71%, while net profit attributable to shareholders increased by 6.11% to 7.21 billion yuan [4][9] - The gross margin for the first three quarters was 40.74%, up 0.7 percentage points year-on-year, and the net margin was 25.32%, up 1.9 percentage points year-on-year [6][9] - The company forecasts revenues of 38.01 billion yuan, 39.20 billion yuan, and 42.81 billion yuan for 2024, 2025, and 2026 respectively, with net profits expected to be 8.92 billion yuan, 9.40 billion yuan, and 10.42 billion yuan [8][11] Market and Product Insights - The company's main products include vacuum pumps, refrigeration compressors, and air compressors, with a slight growth in refrigeration and air compressor products, while vacuum pump revenues have declined due to weakened demand in the photovoltaic sector [5][6] - The company is expected to maintain its market share in the photovoltaic sector while exploring new opportunities in semiconductor and lithium battery fields [8][11]

Company and Industry Summary Company Overview - The company operates in the semiconductor and cooling equipment industries, focusing on vacuum pumps and compressors. Key Points Market Share and Competition - The company's market share in the battery segment has increased to approximately 35% from 30% last year, with expectations to maintain this level despite market challenges [1][2][3] - In the vacuum pump segment, competition has intensified, particularly from foreign companies like LUT and Ibarra, as well as new domestic entrants [1][2][9] - The company aims to eliminate foreign competitors in the Latin American market, where it currently shares market share with LUT and other domestic players [2][9] Revenue and Financial Performance - The company anticipates revenue for the year to be around 1 billion, consistent with last year's performance, despite initial expectations of 1.5 billion [9][10] - The revenue from the semiconductor vacuum pump segment is projected to be around 1 billion, influenced by lower operational rates among downstream customers [9][10] - The gross margin for vacuum pumps remains stable compared to last year, with expectations to maintain this stability through product structure adjustments and cost management [4][10] Product Development and Strategy - The company is focusing on enhancing its product offerings, particularly in the semiconductor sector, by improving performance and expanding its product range [12][28] - There is a strong emphasis on localizing production in Shanghai for vacuum pumps, with plans to increase domestic manufacturing capabilities [12][28] - The company is also exploring international markets, with investments in facilities in Vietnam, Indonesia, and the U.S. to strengthen its global presence [18][20] Challenges and Market Conditions - The overall market environment is challenging, with a decline in demand for cooling and refrigeration products, particularly in the second half of the year [15][16] - The company faces pressure from downstream customers who are hesitant to make early payments due to market uncertainties [3][4] - The competition in the vacuum pump market has become more aggressive, with new entrants reducing the market share of established players [9][10] Future Outlook - The company aims to increase its revenue from parts and maintenance services, targeting a growth in contribution from this segment to 10-15% of total revenue [26] - The focus will be on expanding the product line in the high-end market, particularly in the oil-free compressor segment, which currently has a low domestic market share [24][25] - The company is committed to enhancing its R&D capabilities in both mainland China and Taiwan to support product innovation and market responsiveness [28] Additional Insights - The company has noted a shift in customer preferences towards more localized and cost-effective solutions, which may influence future product development strategies [12][24] - The company is actively working to improve its brand reputation and product quality in the semiconductor industry, which is critical for gaining market share [12][28] This summary encapsulates the key insights from the conference call, highlighting the company's current market position, financial performance, strategic initiatives, and future outlook in the semiconductor and cooling equipment industries.

编号：2024-10-002 证券代码：002158 证券简称：汉钟精机 上海汉钟精机股份有限公司投资者关系活动记录表 | --- | --- | |-------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...