Zhejiang Dahua Technology Co., Ltd. 2024 Third Quarter Report Stock Code: 002236 Stock Name: Dahua Technology Announcement No.: 2024-077 Zhejiang Dahua Technology Co., Ltd. 2024 Third Quarter Report 3. Whether the Q3 report has been audited. □ Yes No This document is a translated version of the Chinese version 2024 Q3report("2024 年第三季度报告"), and the published Q3Report in the Chinese version shall prevail. 1 The Company and all members of the Board of Directors hereby guarantee that the information disclosed ...

Revenue and Profit - Revenue for Q3 2024 was RMB 7.58 billion, a decrease of 0.80% year-over-year[2] - Net profit attributable to shareholders for Q3 2024 was RMB 735.42 million, an increase of 19.75% year-over-year[2] - Total revenue for the current period reached 22.45 billion yuan, compared to 22.28 billion yuan in the same period last year[16] - Net profit attributable to the parent company's owners increased to 24.03 billion yuan from 23.33 billion yuan[15] - Net profit attributable to parent company shareholders was RMB 2,545,010,271.97, a slight decrease compared to the previous period[17] - Sales revenue from goods and services was RMB 23,953,796,287.86, slightly higher than the previous period's RMB 23,883,101,840.08[18] Cash Flow - Operating cash flow for the first nine months of 2024 was negative RMB 124.92 million, a decrease of 109.43% year-over-year[2] - Net cash flow from investing activities decreased by 341.57% year-over-year, mainly due to increased expenditures on large bank deposits[6] - Net cash flow from financing activities decreased by 178.97% year-over-year, mainly due to the receipt of RMB 5.096 billion in raised funds in the same period last year and increased dividends this year[6] - Operating cash flow was negative at RMB -124,915,721.70, a significant decline from RMB 1,325,252,238.48 in the previous period[18] - Investment cash flow was negative at RMB -4,467,251,871.49, reflecting increased investment activities compared to the previous period[19] - Financing cash flow was negative at RMB -2,508,935,214.64, a reversal from the positive RMB 3,177,228,808.38 in the previous period[19] - Cash and cash equivalents decreased by RMB 7,017,949,935.93, ending the period at RMB 8,862,709,659.02[19] Assets and Liabilities - Total assets as of the end of Q3 2024 were RMB 50.98 billion, a decrease of 3.59% compared to the end of the previous year[2] - Total assets decreased to 50.98 billion yuan from 52.88 billion yuan at the beginning of the period[15] - Current liabilities decreased to 13.41 billion yuan from 16.31 billion yuan[14] - Non-current liabilities decreased to 618.51 million yuan from 687.63 million yuan[14] - Cash and cash equivalents decreased to 8.97 billion yuan from 15.97 billion yuan[13] - Accounts receivable increased to 17.18 billion yuan from 16.28 billion yuan[13] - Inventory increased to 6.02 billion yuan from 5.33 billion yuan[13] - The company's total assets stood at RMB 15,880,659,594.95 at the beginning of the period, decreasing to RMB 8,862,709,659.02 by the end[19] Shareholders and Dividends - Total number of ordinary shareholders at the end of the reporting period: 182,930[9] - Largest shareholder: Fu Liquan, holding 31.10% of shares, totaling 1,023,868,980 shares[9] - China Mobile Communications Group Co., Ltd. holds 8.90% of shares, totaling 293,103,400 shares[9] - Zhu Jiangming holds 4.82% of shares, totaling 158,669,490 shares[9] - Chen Ailing holds 2.16% of shares, totaling 71,262,813 shares[9] - Hong Kong Securities Clearing Company Limited holds 2.05% of shares, totaling 67,632,357 shares[9] - China Securities Finance Corporation Limited holds 1.20% of shares, totaling 39,611,241 shares[9] - Industrial and Commercial Bank of China Limited - Huatai-PineBridge CSI 300 ETF holds 1.17% of shares, totaling 38,501,630 shares[9] - China Construction Bank Corporation - E Fund CSI 300 ETF holds 0.77% of shares, totaling 25,240,743 shares[9] - Total cash dividend distribution for the first half of 2024: RMB 602,144,984.38, with a dividend of RMB 1.84 per 10 shares[11] Expenses and Investments - Operating costs increased to 20.48 billion yuan from 19.68 billion yuan year-over-year[16] - R&D expenses rose to 2.96 billion yuan, up from 2.75 billion yuan in the previous year[16] - Investment income increased by 325.33% year-over-year, mainly due to increased investment income from equity investments[5] - Total operating expenses increased to RMB 26,046,228,742.46, up from RMB 24,317,259,121.35 in the previous period[18] Earnings and Comprehensive Income - Basic earnings per share were RMB 0.78, down from RMB 0.82 in the previous period[18] - Total comprehensive income attributable to parent company shareholders was RMB 2,594,231,497.71, showing minimal change from the previous period[17] Monetary Funds and Prepayments - Monetary funds decreased by 43.87% compared to the beginning of the year, mainly due to the purchase of large bank deposits and repayment of loans[5] - Prepayments increased by 79.47% compared to the beginning of the year, mainly due to increased prepayments for raw materials[5] - Short-term borrowings increased by 35.26% compared to the beginning of the year, mainly due to an increase in bill discounting[5]

一、担保情况概述 浙江大华技术股份有限公司（以下简称"公司"）于 2024 年 4 月 15 日召开的 第八届董事会第五次会议审议通过了《关于为子公司提供担保的议案》。根据公 司实际业务发展需要，公司拟在 2024 年为合并范围内的部分子公司提供担保， 担保总额度不超过人民币 1,360,000 万元。其中，对资产负债率低于 70%的子公 司提供担保额度 104,200 万元，对资产负债率高于 70%的子公司提供担保额度 1,255,800 万元。在上述额度范围内，公司管理层可根据实际经营情况对子公司 之间的担保金额进行调剂。上述事项已经公司 2023 年度股东大会审议通过。具 体内容详见公司刊登于《证券时报》和巨潮资讯网（www.cninfo.com.cn）的《关 于为子公司提供担保的公告》（公告编号：2024-025）。 二、担保进展情况 证券代码：002236 证券简称：大华股份 公告编号：2024-076 浙江大华技术股份有限公司 关于为子公司提供担保的进展公告 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。 1、近日，公司向汇丰银行（中国）有限公司杭 ...

证券代码：002236 证券简称：大华股份 公告编号：2024-074 浙江大华技术股份有限公司 关于为子公司提供担保的进展公告 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、担保情况概述 浙江大华技术股份有限公司（以下简称"公司"）于 2024 年 4 月 15 日召开的 第八届董事会第五次会议审议通过了《关于为子公司提供担保的议案》。根据公 司实际业务发展需要，公司拟在 2024 年为合并范围内的部分子公司提供担保， 担保总额度不超过人民币 1,360,000 万元。其中，对资产负债率低于 70%的子公 司提供担保额度 104,200 万元，对资产负债率高于 70%的子公司提供担保额度 1,255,800 万元。在上述额度范围内，公司管理层可根据实际经营情况对子公司 之间的担保金额进行调剂。上述事项已经公司 2023 年度股东大会审议通过。具 体内容详见公司刊登于《证券时报》和巨潮资讯网（www.cninfo.com.cn）的《关 于为子公司提供担保的公告》（公告编号：2024-025）。 二、担保进展情况 1、近日，公司向招商银行股份有限公司杭州分 ...

证券代码：002236 证券简称：大华股份 公告编号：2024-075 浙江大华技术股份有限公司 关于控股股东、实际控制人部分股份解除质押的公告 截至公告披露日，上述股东及其一致行动人所持质押股份情况如下： 股东 名称 持股数量 （股） 持股 比例 本次质押变 动前质押股 份数量 （股） 本次质押变 动后质押股 份数量 （股） 占其所 持股份 比例 占公 司总 股本 比例 已质押股份情况 未质押股份情况 已质押股份 限售和冻 结、标记数 量（股） 占已质 押股份 比例 未质押股份 限售和冻结 数量（股） 占未质 押股份 比例 傅利泉 1,023,868,980 31.10% 176,700,000 154,200,000 15.06% 4.68% 126,000,000 81.71% 641,901,735 73.81% 陈爱玲 71,262,813 2.16% 31,800,000 31,800,000 44.62% 0.97% 31,800,000 100% 21,647,110 54.85% 陈建峰 3,609,210 0.11% 0 0 0.00% 0.00% 0 0% 225,330 6.24% 来 ...

证券代码：002236 证券简称：大华股份 公告编号：2024-073 浙江大华技术股份有限公司 关于为子公司提供担保的进展公告 一、担保情况概述 浙江大华技术股份有限公司（以下简称"公司"）于 2024 年 4 月 15 日召开的 第八届董事会第五次会议审议通过了《关于为子公司提供担保的议案》。根据公 司实际业务发展需要，公司拟在 2024 年为合并范围内的部分子公司提供担保， 担保总额度不超过人民币 1,360,000 万元。其中，对资产负债率低于 70%的子公 司提供担保额度 104,200 万元，对资产负债率高于 70%的子公司提供担保额度 1,255,800 万元。在上述额度范围内，公司管理层可根据实际经营情况对子公司 之间的担保金额进行调剂。上述事项已经公司 2023 年度股东大会审议通过。具 体内容详见公司刊登于《证券时报》和巨潮资讯网（www.cninfo.com.cn）的《关 于为子公司提供担保的公告》（公告编号：2024-025）。 二、担保进展情况 1、公司与平安银行股份有限公司杭州分行签订了《综合授信额度合同》（编 号：平银杭交七综字20240901第001号），同意为以下名单内的子公 ...

Investment Rating - The report maintains a **Buy** rating for the company with a target price of **21.20 RMB** [2][7] Core Views - The company's revenue in the first half of the year increased by **2% YoY to 14.9 billion RMB**, while net profit attributable to the parent company decreased by **8% YoY to 1.81 billion RMB** [1] - Gross margin remained stable at **41.3%** since 2023, and operating cash flow was **-507 million RMB**, better than the pre-pandemic average [1] - Domestic business revenue declined by **5% YoY to 7.38 billion RMB**, with government business revenue dropping by **15% YoY to 800 million RMB** due to cautious local government investments and slowing demand in traditional industries [1] - Overseas business revenue grew by **9% YoY to 7.49 billion RMB**, accounting for over **50%** of total revenue for the first time, with strong growth in Latin America and Europe [1] - Innovative business revenue increased by **9% YoY to 2.46 billion RMB**, driven by machine vision, mobile robotics, and automotive electronics [1] Financial Performance and Forecast - Revenue is expected to grow by **8% YoY in 2024E to 34.87 billion RMB**, with further growth of **13% YoY in 2025E and 2026E** [3] - Net profit attributable to the parent company is forecasted to be **3.49 billion RMB in 2024E**, **4.31 billion RMB in 2025E**, and **4.94 billion RMB in 2026E** [3] - Gross margin is projected to remain stable at around **41.6%** from 2024E to 2026E [3] - EPS is expected to be **1.06 RMB in 2024E**, **1.31 RMB in 2025E**, and **1.50 RMB in 2026E** [3] Business Segments Domestic Business - Government business revenue declined by **15% YoY to 800 million RMB**, but opportunities are expected from increased government spending and AI applications [1] - Enterprise business revenue remained flat at **3.9 billion RMB**, with strong growth in industrial and energy sectors, but weakness in construction, education, and finance [1] - Distribution business saw a slight decline due to weak market demand, but the company is optimizing its channel ecosystem and launching new products [1] Overseas Business - Overseas revenue grew by **9% YoY to 7.49 billion RMB**, with a focus on expanding channel networks and promoting solutions in smart cities, transportation, and energy [1] - The company plans to adopt a "one country, one policy" approach to address manufacturing and supply chain challenges [1] Innovative Business - Revenue from innovative businesses grew by **9% YoY to 2.46 billion RMB**, with contributions from machine vision, mobile robotics, and automotive electronics [1] - The company is strengthening R&D and expanding product lines to penetrate core business systems [1] Valuation and Peer Comparison - The company's 2024E PE ratio is **12.8x**, compared to an average of **19.89x** for peers [8] - The target price of **21.20 RMB** is based on a **20x PE multiple** for 2024E [2][7] Key Financial Ratios - ROE is expected to be **9.6% in 2024E**, **10.9% in 2025E**, and **11.4% in 2026E** [3] - Net profit margin is forecasted to be **10.0% in 2024E**, **11.0% in 2025E**, and **11.1% in 2026E** [3] - The company's debt-to-asset ratio is expected to remain stable at around **32%** from 2024E to 2026E [3]

经中国证券监督管理委员会证监许可[2022]853 号《关于核准浙江大华技术 股份有限公司非公开发行股票的批复》核准，本公司向特定对象发行人民币普通 股（A 股）293,103,400 股，发行价格 17.40 元/股，募集资金总额为 5,099,999,160.00 元，扣除保荐及承销费用人民币（不含增值税）4,000,000.00 元，减除其他与发 行权益性证券直接相关的发行费用人民币（不含增值税）6,166,575.28 元，实际 募集资金净额为人民币 5,089,832,584.72 元。上述募集资金到位情况已经立信会 计师事务所（特殊普通合伙）审验，并出具信会师报字[2023]第 ZF10231 号《验 资报告》。 二、募集资金管理和存放情况 为了规范募集资金的管理和使用，保护投资者的利益，公司已按照《中华人 民共和国公司法》、《中华人民共和国证券法》、中国证监会和深圳证券交易所 的有关规定要求制定了《浙江大华技术股份有限公司募集资金管理办法》（以下 简称"《管理办法》"），对公司募集资金的存储、使用、管理与监管等方面作 证券代码：002236 证券简称：大华股份 公告编号：2024-072 浙江大 ...

证券代码：002236 证券简称：大华股份 公告编号：2024-071 浙江大华技术股份有限公司 2024 年半年度权益分派实施公告 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。 特别提示： 1、公司总股本为 3,292,346,690 股，其中公司通过回购专户持有公司股票数 量为 19,819,601 股，该部分已回购的股份不享有参与本次利润分配的权利； 2、本次权益分派方案实施后，根据股票市值不变原则，实施权益分派前后 公司总股本保持不变，现金分红总额分摊到每一股的比例将减小。本次权益分派 实施后除权除息价格计算时，按公司总股本（含回购股份）折算每股现金分红= 本次实际现金分红总额/公司总股本，即 0.1828923 元（保留 7 位小数，最后一位 直接截取，不四舍五入）。因此，公司 2024 年半年度权益分派实施后的除权除息 参考价=股权登记日收盘价-0.1828923 元。 一、股东大会审议通过利润分配方案等情况 1、2024 年第二次临时股东大会审议通过的利润分配方案为：以公司总股本 剔除已回购股份 19,819,601 股后的 3,272,527 ...

法律意见书 国枫律股字[2024]A0451 号 致：浙江大华技术股份有限公司（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 年第二次临时股东大会（以下简称"本次会议"）。 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 北京国枫律师事务所 关于浙江大华技术股份有限公司 2024 年第二次临时股东大会的 4．本法律意见书仅供贵公司本次会议之目的使用，不得用作任何其他用途。本所 律师同意将本法律意见书随贵公司本次会议决议一起予以公告。 本所律师根据《公司法》《证券法》《股东大会规则》《证券法律业务管理办法》 《证券法律业务执业规则》等相关法律、行政法规、规章、规范性文件的要求，按照律 师行业公认的业务标准、道德规范和勤勉尽责精神，对贵公司提供的有关文件和有关事 项进行了核查和验证，现出具法律意见如下： 一、本次会议的召集、召开程序 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》 ...