久立特材 2024 年第一次临时股东大会法律意见书 国浩律师（杭州）事务所 网址/Website：http://www.grandall.com.cn 二〇二四年九月 浙江久立特材科技股份有限公司 国浩律师（杭州）事务所 关 于 浙江久立特材科技股份有限公司 2024 年第一次临时股东大会的 法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 久立特材 2024 年第一次临时股东大会法律意见书 国浩律师（杭州）事务所 国浩律师（杭州）事务所 关 于 2024 年第一次临时股东大会的 法律意见书 致：浙江久立特材科技股份有限公司 国浩律师（杭州）事务所（以下简称"本所"）接 ...

Investment Rating - The investment rating for the company is "Buy" [2][12]. Core Views - The report highlights that the company's overseas expansion is showing results, particularly in the composite pipe business, which has seen significant growth [2]. - The company achieved a revenue of 4.83 billion yuan in H1 2024, representing a year-on-year increase of 28.3%, while the net profit attributable to shareholders was 644 million yuan, a decrease of 9.6% year-on-year [2]. - The composite pipe business has grown impressively, with revenue reaching 642 million yuan, a year-on-year increase of 5335% [2]. Summary by Sections Performance Overview - In H1 2024, the company reported a revenue of 4.83 billion yuan, up 28.3% year-on-year, and a net profit of 644 million yuan, down 9.6% year-on-year. The adjusted net profit was 653 million yuan, up 34.0% year-on-year, with an EPS of 0.67 yuan [2]. - Q2 2024 revenue was 2.44 billion yuan, a 17.1% increase year-on-year and a 2.2% increase quarter-on-quarter, with a net profit of 316 million yuan, down 34.1% year-on-year [2]. Business Segments - The company has shown strong growth in the oil and gas chemical sector, with revenue of 3.0 billion yuan, a year-on-year increase of 39.3%. The composite pipe segment has also performed well, with a revenue increase of 5335% [2]. - The revenue breakdown by product shows seamless pipes at 2.08 billion yuan (up 20.9%), welded pipes at 1.07 billion yuan (down 16.0%), composite pipes at 642 million yuan (up 5335%), fittings at 388 million yuan (up 37.9%), and alloy materials at 345 million yuan (up 177%) [2]. Profitability Analysis - The company's gross margin and net margin for H1 2024 were 24.9% and 13.8%, respectively, with the net margin showing a year-on-year decline due to a high base effect from the previous year [2]. - The gross margin for seamless pipes was 30.0% (up 1.15 percentage points), while the gross margin for composite pipes improved to 24.3% (up 29.7 percentage points) [2]. Market Expansion - The company has actively expanded into emerging markets, with overseas revenue growing by 61.3% year-on-year, significantly outpacing domestic growth of 15.8% [2]. - The report emphasizes the company's strategic positioning in high-end stainless steel pipe manufacturing and its proactive approach to capturing future industry opportunities [2].

证券代码:002318 证券简称:久立特材 公告编号:2024-046 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、本次回购公司股份方案的基本情况及实施进展 浙江久立特材科技股份有限公司（以下简称"公司"）于 2023 年 10 月 28 日 召开第六届董事会第三十一次会议，审议通过了《关于回购公司股份方案的议案》， 同意公司使用自有资金以集中竞价交易方式回购公司股份用于实施股权激励或 员工持股计划，回购股份的资金总额不低于人民币 1.5 亿元（含）且不超过人民 币 3 亿元（含），回购价格不超过人民币 28 元/股，回购股份期限为自公司董事 会审议通过回购股份方案之日起 12 个月内，具体回购股份的数量以回购期满时 实际回购的股份数量为准。具体内容详见公司在《证券时报》、《上海证券报》和 巨潮资讯网（www.cninfo.com.cn）披露的《关于回购公司股份方案的公告》（公 告编号：2023-081）、《回购股份报告书》（公告编号：2023-088）。 公司 2023 年度权益分派实施完毕后，公司对本次回购股份的价格上限进行 了调整，回购股份价格上 ...

股 票 研 究 证 券 研 究 报 告 国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 安证券 ——久立特材 2024 年中报点评 股票研究 /[Table_Date] 2024.09.03 [table_Authors] 李鹏飞(分析师) 魏雨迪(分析师) 王宏玉(分析师) 010-83939783 021-38674763 021-38038343 lipengfei@gtjas.com weiyudi@gtjas.com wanghongyu@gtjas.com 登记编号 S0880519080003 S0880520010002 S0880523060005 本报告导读： 公司 2024 年上半年业绩符合预期。公司着力研发，高端产品营收快速增长。复合管 业务快速上升，合金公司开始发力，我们预期这些业务将不断给公司带来业绩增量。 投资要点： [Table_Summary] 维持"增持"评级。公司 2024 年上半年实现营收 48.31 亿元，同比 上升 28.33%；实现归母净利润 6.44 亿元，同比下降 9.56%；实现 ...

证券代码:002318 证券简称:久立特材 公告编号:2024-045 浙江久立特材科技股份有限公司 鉴于公司 2023 年度权益分派已实施完毕，公司对本次回购股份的价格上限 进行了调整，公司回购股份价格上限由不超过人民币 28.00 元/股（含）调整为不 超过人民币 27.53 元/股（含），自 2024 年 5 月 30 日生效。 一、 股份回购进展情况 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相关规定，上市公司在回购期间应当在每个月的前三个交 易日内披露截至上月末的回购进展情况。公司现将回购进展情况公告如下： 截至 2024 年 8 月 31 日，公司通过回购专用证券账户以集中竞价交易方式已 累计回购股份 14,595,460 股，占公司当前总股本的 1.49%，最高成交价为 19.7 元 /股，最低成交价为 18.69 元/股，成交总金额为 280,721,017.9 元（不含交易费用 等）。 1 上述回购资金来源为公司自有资金，回购价格未超过回购方案中拟定的价格 上限；符合相关法律法规及公司既定回购股份方案的要求。 二、其他说明 公司回购股份的实施符 ...

证券代码：002318 证券简称：久立特材 公告编号：2024-044 浙江久立特材科技股份有限公司 关于质量回报双提升行动方案的公告 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。 浙江久立特材科技股份有限公司（以下简称"久立特材"或"公司"）长期 以来坚定不移地实施创新驱动发展战略，致力于产品质量的卓越提升与股东价值 的最大化回报。为深入贯彻国务院《加强监管防范风险推动资本市场高质量发展 的若干意见》相关要求，并切实履行"以投资者为本"的上市公司核心理念，公 司依据近年来稳健的经营成果及对未来发展的深刻洞察，特制定"质量回报双提 升"行动方案。该方案旨在通过全面提升产品质量与深化股东回报机制，推动公 司可持续发展，实现股东价值最大化。具体举措如下： 一、质量引领未来：创新驱动，品质升级 为积极响应市场需求及应对行业竞争挑战，久立特材积极推进产能扩张与智 能制造转型。通过引进先进生产设备和技术手段，公司生产能力得到提升，现已 具备年产 20 万吨工业用成品管材、1.5 万吨管件及 2.6 万吨合金材料的生产能 力。 为进一步提升生产效率与产品质量稳定性，久立 ...

Investment Rating - The report maintains a "Buy" rating for the company, expecting a significant increase in stock price relative to the benchmark index over the next six months [6][9]. Core Insights - The company has achieved a revenue of 4.831 billion yuan in H1 2024, representing a year-on-year growth of 28%. The net profit attributable to shareholders decreased by 10% to 644 million yuan, while the net profit excluding non-recurring items increased by 34% to 653 million yuan [3][4]. - The company is focusing on product "high-end" development and market "globalization," with high-value-added products accounting for approximately 22% of total revenue, growing by 40% year-on-year. International revenue reached 1.669 billion yuan, making up 35% of total revenue, with a year-on-year increase of 61% [4]. - The company has seen a 39% year-on-year increase in revenue from the oil, chemical, and natural gas sectors, driven by efforts to expand into high-end product markets domestically and internationally [4]. - The gross profit margin improved by 1.98 percentage points to 24.91% in H1 2024, with a decrease in the four expense ratios by 1.57 percentage points [4]. Financial Performance Summary - For H1 2024, the company reported a revenue of 4.831 billion yuan, with a year-on-year growth rate of 28% [3]. - The net profit attributable to shareholders was 644 million yuan, down 10% year-on-year, while the net profit excluding non-recurring items was 653 million yuan, up 34% [3][4]. - The company expects net profits for 2024-2026 to be 1.555 billion yuan, 1.794 billion yuan, and 2.002 billion yuan, respectively, with corresponding P/E ratios of 12, 10, and 9 times [6].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 20% relative to the market benchmark within the next six months [15]. Core Views - The company has achieved a significant increase in its main profit, with a year-on-year growth of 81% in its core business profit, despite a decline in overall net profit due to investment income losses [2][3]. - The company continues to deepen its high-end strategy, with a focus on expanding its presence in the mid-to-high-end product market, leading to a 28.33% year-on-year increase in revenue for the first half of 2024 [2]. - The revenue from high-end equipment manufacturing and new materials reached approximately 1.057 billion yuan, accounting for about 22% of total revenue, reflecting a 40% year-on-year growth [2]. Financial Performance Summary - For the first half of 2024, the company reported operating revenue of 4.831 billion yuan, a year-on-year increase of 28.33%, and a net profit attributable to shareholders of 644 million yuan, a decrease of 9.56% [2]. - The gross profit margin for the first half of 2024 was 24.91%, an increase of 1.99 percentage points year-on-year, while the net profit margin was 13.77%, a decrease of 4.28 percentage points [2]. - The company’s revenue from the oil, chemical, and natural gas sectors increased by 39.3%, with a gross margin of 28.40%, reflecting a 2.29 percentage point increase year-on-year [3]. Earnings Forecast and Valuation - The report forecasts net profits attributable to shareholders for 2024, 2025, and 2026 to be 1.580 billion yuan, 1.758 billion yuan, and 1.912 billion yuan, respectively, with corresponding price-to-earnings (P/E) ratios of 11.9, 10.7, and 9.8 [3][4].

证券代码:002318 证券简称:久立特材 公告编号：2024-043 浙江久立特材科技股份有限公司 关于召开2024年第一次临时股东大会的通知 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、误导性陈述或者重大遗漏。 一、召开会议基本情况 （一）股东大会届次：2024 年第一次临时股东大会 （二）召集人：公司第七届董事会 （三）会议召开的合法、合规性：本次股东大会的召开符合有关法律、行政 法规、部门规章、规范性文件、深圳证券交易所业务规则和《公司章程》等的规 定。 （四）会议召开日期和时间：2024 年 9 月 20 日（星期五）14 时 30 分 网络投票时间为：2024 年 9 月 20 日，其中，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 9 月 20 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00；通过深圳证券交易所互联网投票系统进行网络投票的具体时间为 2024 年 9 月 20 日上午 9:15 至下午 15:00。 （五）会议召开方式：本次股东大会采取现场投票与网络投票相结合的方式。 公司将通过深圳证券交易所交易 ...

证券代码：002318 证券简称：久立特材 公告编号：2024-042 浙江久立特材科技股份有限公司 关于向银行申请授信额度及担保事项的公告 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： 本次被担保对象为资产负债率超过70%的全资孙公司，敬请投资者注意相关 风险。 一、担保情况概述 浙江久立特材科技股份有限公司（以下简称"公司"）于2024年8月28日召开 第七届董事会第六次会议和第七届监事会第五次会议，审议通过了《关于向银行 申请授信额度及担保事项的议案》。为了更好地实施公司发展战略，满足全资孙 公司Eisenbau Krämer GmbH（以下简称"EBK公司"）未来业务增长及营运资 金需求，公司拟向中国建设银行股份有限公司湖州分行（以下简称"建设银行"） 申请授信额度人民币21,500万元，相关授信额度可用于流动资金贷款、承兑、开 立信用证、出具保函和跨境直贷通等；向德国商业银行股份有限公司上海分行（以 下简称"德商银行"）申请授信额度欧元3,000万元（约折合人民币23,600万元）， 相关授信额度可用于申请开立各类保函，包括备用信用证、 ...