申万宏源证券承销保荐有限责任公司 关于华明电力装备股份有限公司 2023 年度持续督导定期现场检查报告 申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承销保荐" 或"保荐机构"）作为华明电力装备股份有限公司（以下简称"华明装备"或 "公司"）2021年非公开发行股票的保荐机构，根据《证券发行上市保荐业务 管理办法》、《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》 等有关法律、法规和规范性文件的要求，对华明装备进行了持续督导现场检 查工作，报告如下： | 保荐人名称：申万宏源证券承销保荐有限责 被保荐公司简称：华明装备 | | | | --- | --- | --- | | 任公司 | | | | 保荐代表人姓名：秦丹 联系电话：021-33389802 | | | | 保荐代表人姓名：虞校辉 联系电话：021-33388600 | | | | 现场检查人员姓名：秦丹 | | | | 现场检查对应期间：2023 年度 | | | | 现场检查时间：2024年4月19日 | | | | 一、现场检查事项 | 现场检查意见 | | | 是 （一）公司治理 | 否 | 不适用 | | 现场检查手 ...

| 保荐人名称：申万宏源证券承销保荐有限责任公司 | 被保荐公司简称：华明装备 | | --- | --- | | 保荐代表人姓名：秦 丹 | 联系电话：021-33389802 | | 保荐代表人姓名：虞校辉 | 联系电话：021-33388600 | 申万宏源证券承销保荐有限责任公司 关于华明电力装备股份有限公司 2023 年度保荐工作报告 | 公司及股东承诺事项 | 是否履行承 | 未履行承诺的原因 | | --- | --- | --- | | | 诺 | 及解决措施 | | 1.股份锁定和转让限制的承诺 | 是 | 不适用 | | 2.持股 5%以上股东减持意向的承诺 | 是 | 不适用 | | 3.稳定股价预案及承诺 | 是 | 不适用 | | 4.关于信息披露重大违规的相关承诺 | 是 | 不适用 | | 5.关于本次募集资金到位后填补被摊薄即期回报的 | 是 | 不适用 | | 措施及承诺 | | | | 6.未能履行承诺事项时的约束措施 | 是 | 不适用 | | 7.关于避免同业竞争的承诺 | 是 | 不适用 | | 8.关于规范和减少关联交易的承诺 | 是 | 不适用 | 四、其他事项 ...

（一）培训时间与地点 1.培训时间：2024年4月10日 2.培训地点：华明装备会议室+视频会议 3.培训方式：现场会议+视频会议 申万宏源证券承销保荐有限责任公司 关于华明电力装备股份有限公司 2023年度持续督导培训情况报告 申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承销保荐"或 "保荐人"）作为华明电力装备股份有限公司（以下简称"华明装备"、"公司"） 2021年非公开发行股票的保荐人，根据《深圳证券交易所上市公司自律监管指引 第13号——保荐业务》的相关规定，于2024年4月10日对华明装备董事、监事、 高级管理人员、中层以上管理人员及公司控股股东、实际控制人等进行了2023年 度持续督导培训，具体情况如下： 一、培训情况 实施本次现场培训前，保荐人编制了培训讲义，并提前要求公司参与培训的 相关人员了解培训相关内容。培训后，保荐人向公司提供了讲义课件以供自学。 二、培训效果 保荐人为本次培训指定了专门的培训人员，并通过现场、视频讲解方式与培 训对象进行交流，培训效果良好。全体参加培训的人员均认真学习，通过学习更 加深刻地理解和掌握了中国证监会和深圳证券交易所对上市公司在规范运作方 面的要求和 ...

券 研 司 2024 年 04 月 21 日 | --- | --- | --- | |----------------------------------------------------------------------------------------------------|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券代码：002270 证券简称：华明装备 公告编号：〔2024〕019 号 二、监事会会议审议情况 （一）以 3 票赞成、0 票反对、0 票弃权审议通过了《公司 2024 年第一季度 报告》。 经认真审核，公司监事会成员一致认为：董事会编制和审核《2024 年第一季 度报告》的程序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、 完整地反映了公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见公司指定信息披露媒体《证券时报》《证券日报》《上海证券报》 《中国证券报》和巨潮资讯网（http://www.cninfo.com.cn）的《2024 年第一季 度报告》。 三、备查文件 华明电力装备股份有限公司 关于第六届监事会第八次会议决议的公告 本公司及监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、监事会会议召开情况 华明电力装备股份有限公司（以下简称"公司"）第六届监事会第八次会议 通知于 2024 年 4 月 13 日以邮件、短信或专人送达的方式通知各位监事，本次会 议于 2024 年 4 月 18 日在上海市普陀区同普路 977 ...

证券代码:002270 证券简称:华明装备 公告编号：〔2024〕018 号 华明电力装备股份有限公司 关于第六届董事会第十一次会议决议的公告 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、董事会会议召开情况 华明电力装备股份有限公司（以下简称"公司"）第六届董事会第十一次会 议通知于 2024 年 4 月 13 日以邮件、短信或专人送达的方式送达各位董事及其他 会议参加人，本次会议于 2024 年 4 月 18 日在上海市普陀区同普路 977 号以现 场加通讯表决方式召开。 本次会议应出席的董事 9 人，实际出席会议的董事 9 人。本次会议由董事长 肖毅先生召集、主持,公司监事、部分高级管理人员列席了本次会议。本次会议 的召开符合《中华人民共和国公司法》及《华明电力装备股份有限公司章程》等 有关规定。 具体内容详见公司指定信息披露媒体《证券时报》《证券日报》《上海证券 报》《中国证券报》和巨潮资讯网（http://www.cninfo.com.cn）的《2024 年第 一季度报告》。 本议案已经公司董事会审计委员会事前审议通过。 三、备查文件 1、公司 ...

Financial Performance - The company reported cash received from sales and services of CNY 546.26 million, an increase of 90.96% compared to CNY 286.07 million in the same period last year[4]. - The total cash inflow from operating activities was CNY 559.36 million, up from CNY 334.30 million year-on-year[12]. - The company achieved a net profit attributable to shareholders of 126.92 million yuan, representing a year-on-year increase of 7.59%[44]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 126.37 million yuan, up 24.09% year-on-year[44]. - Operating income for the reporting period was 451.22 million yuan, an increase of 9.40% compared to the same period last year[44]. - The company's total equity reached ¥3,492,038.80 million, up from ¥3,362,710.57 million year-over-year, showing growth in shareholder equity[51]. - Total comprehensive income amounted to CNY 128,123,749.50, an increase from CNY 115,808,234.89 in the previous period, reflecting a growth of approximately 10.7%[54]. Cash Flow - Cash flow from operating activities reached 153.42 million yuan, a significant increase of 762.82% compared to a net outflow of 23.15 million yuan in the previous year[44]. - Net cash flow from operating activities reached CNY 153,423,716.59, a significant recovery from a negative cash flow of CNY -23,147,232.72 in the prior period[56]. - Cash and cash equivalents at the end of the period totaled CNY 1,111,439,878.25, compared to CNY 879,023,113.33 at the end of the previous period, marking an increase of approximately 26.4%[56]. - The company recorded a net increase in cash and cash equivalents of CNY 119,755,445.05, contrasting with a net decrease of CNY -107,899,788.64 in the previous period[56]. Assets and Liabilities - The total assets of the company increased to CNY 4.66 billion, compared to CNY 4.52 billion in the previous year[9]. - The company’s non-current assets totaled CNY 1.52 billion, a slight decrease from CNY 1.53 billion year-on-year[9]. - The company’s total liabilities decreased, with short-term borrowings remaining stable at CNY 60.05 million[9]. - The total liabilities of the company amounted to ¥1,163,092.32 million, compared to ¥1,155,437.61 million in the previous year, indicating a slight increase[51]. Revenue and Income - The company reported a revenue of 392 million yuan from its power equipment business, marking a year-on-year growth of 14.63%[44]. - The company's operating revenue for the current period reached ¥45,122.47 million, an increase of ¥3,877.31 million or 9.40% compared to the same period last year[45]. - Financial expenses decreased significantly to -¥333.81 million, a change of -¥728.47 million or -184.58% year-over-year, primarily due to increased interest from USD time deposits[45]. - Investment income surged to ¥409.83 million, up by ¥359.31 million or 711.22% from the previous year, mainly from recognized investment income from joint ventures[45]. - Other income increased to ¥124.03 million, reflecting a rise of ¥77.18 million or 164.74% year-over-year, attributed to VAT incentives for advanced manufacturing[45]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,876, with the largest shareholder holding 28.25% of the shares[47]. - The basic earnings per share were 0.1416 yuan, an increase of 7.60% compared to the previous year[44]. - The company reported a basic and diluted earnings per share of CNY 0.1416, up from CNY 0.1316 in the previous period, indicating an increase of about 2.3%[54]. Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and product offerings[46]. - The company has identified strategic opportunities for mergers and acquisitions to bolster its competitive position in the market[46]. Other Financial Metrics - The company reported a significant decrease in credit impairment losses to -¥317.25 million, a change of -¥692.76 million or -184.49% year-over-year, mainly due to an increase in accounts receivable[45]. - Accounts receivable increased by 57.34% to 67.03 million yuan, primarily due to outstanding receivables during the reporting period[23]. - Contract liabilities rose by 86.44% to 15.53 million yuan, mainly due to new advance payments for power station engineering projects[23]. - The cash paid for purchasing goods and services was CNY 205.86 million, an increase of 33.57% from CNY 154.12 million in the previous year[4]. - The company received government subsidies amounting to CNY 391,626.79, contributing to its financial performance[1]. - The company reported a decrease in cash received from tax refunds, totaling CNY 2.50 million, down 46.81% from CNY 4.70 million[12]. - The net cash outflow from investing activities was CNY -6,371,271.03, a decline from a positive cash flow of CNY 52,334,870.39 in the previous period[56]. - Cash outflow from financing activities totaled CNY 26,887,219.32, a decrease from CNY 131,803,979.84 in the prior period, indicating a reduction of approximately 79.6%[56]. - The company paid CNY 51,032,248.37 in taxes, a decrease from CNY 55,596,589.61 in the previous period, reflecting a reduction of about 8.5%[56].

华明电力装备股份有限公司 关于举行 2023 年度与 2024 年第一季度 网上业绩说明会的公告 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。 华明电力装备股份有限公司（以下简称"公司"）已于2024年4月11日在巨 潮资讯网（http://www.cninfo.com.cn）披露了《2023年年度报告》及其摘要， 已于2024年4月19日在巨潮资讯网（http://www.cninfo.com.cn）披露了《2024 年第一季度报告》。 为便于广大投资者进一步了解公司2023年度、2024年第一季度经营情况，公 司定于2024年5月8日（星期三）下午15:00-17:00在全景网提供的网上平台举行 2023年度与2024年第一季度网上业绩说明会，本次业绩说明会将采用网络远程的 方式举行，投资者可登陆全景网"投资者关系互动平台"（https://ir.p5w.net） 参与本次业绩说明会。 证券代码：002270 证券简称：华明装备 公告编号：〔2024〕020 号 出席本次业绩说明会的人员有：公司董事长肖毅先生、总经理陆维力先生、 财务负责人雷纯立先生、董 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [6] Core Views - The company achieved record high revenue of 1.96 billion and net profit of 540 million in 2023, with year-on-year growth of 14.6% and 50.9% respectively [4] - The company has set a new target to double its net profit over the next four years from the 2023 baseline [4] - The company plans to distribute a total cash dividend of 740 million in 2023, with a payout ratio of 136% [5] - The company is actively expanding into Southeast Asia, the US, and Europe, which are expected to become significant growth drivers [12] Financial Performance - Revenue and net profit for 2023 reached 1.96 billion and 540 million respectively, with significant contributions from domestic and overseas markets [4] - The company’s gross margin improved to 52.23%, up 2.93 percentage points year-on-year, driven by product mix enhancement and increased overseas revenue [21] - The company’s financial expenses decreased significantly due to higher interest income covering interest expenses [21] Earnings Forecast - The company is projected to achieve net profits of 664 million, 803 million, and 977 million for 2024, 2025, and 2026 respectively, with corresponding growth rates of 22.46%, 20.89%, and 21.68% [22] - The price-to-earnings (P/E) ratios for 2024, 2025, and 2026 are forecasted to be 25, 20, and 17 respectively [6] Market Data - As of April 12, 2024, the company's stock price is 20.41, with a market capitalization of approximately 18.29 billion [11]

2024 年 04 月 12 日 公司点评 买入/维持 ◼ 走势比较 (30%) (2%) 26% 54% 82% 110% 23/4/1223/6/2223/9/1 23/11/1124/1/2124/4/1 华明装备 沪深300 华明装备(002270) 目标价: 昨收盘:18.06 产品结构改善&海外收入高增，盈利能力持续增强 ◼ 股票数据 总股本/流通(亿股) 8.96/8.96 总市值/流通(亿元) 161.86/161.86 12 个月内最高/最低价 (元) 19.35/9.36 相关研究报告 <<华明装备 2023 年业绩预告点评： 利润实现较快增长，海外有望厚积薄 发_20240125>>--2024-01-28 证券分析师：刘强 电话： E-MAIL：liuqiang@tpyzq.com 分析师登记编号：S1190522080001 研究助理：万伟 电话： E-MAIL： 一般证券业务登记编号：S1190122090006 事件：公司发布 2023 年年报，全年利润实现快速增长，持续保持高 分红比例。 1）2023 年实现收入 19.61 亿元，同比+14.57%；实现归母净利润 5.42 ...