证券代码：002452 证券简称：长高电新 公告编号：2024-70 长高电新科技股份公司 关于子公司在国家电网中标的公告 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。 2024 年 11 月 5 日，国家电网有限公司电子商务平台（https://ecp.sgcc.com.cn） 发布了《国家电网有限公司 2024 年第七十二批采购（输变电项目第五次变电设备（含 电缆）招标采购）中标公告》《国家电网有限公司 2024 年第七十三批采购（输变电 项目第五次变电设备单一来源采购）成交公告》《国家电网有限公司 2024 年新增第 二十四批采购（输变电项目新增第二次变电设备招标采购）的中标人名单》。长高电 新科技股份公司（以下简称"公司"）100%纳入合并报表范围内的子公司湖南长高电 气有限公司、湖南长高高压开关有限公司、湖南长高森源电力设备有限公司、湖南 长高成套电器有限公司分别在组合电器、隔离开关、开关柜三类产品招标中中标。 在上述招标项目中，四个子公司合计中标 22,699.70 万元。 一、中标公告主要内容 本次中标公示媒体是国家电网有限公司电子商务平台，招 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 10.2 yuan [1][3]. Core Insights - The company has achieved a revenue of 1.13 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 6.3%. The net profit attributable to the parent company reached 181 million yuan, up 10.4% year-on-year [1]. - The company has maintained high growth in order wins, with a cumulative bid amount of 1.2 billion yuan in the first five batches of national grid projects, a 26.3% increase compared to the same period last year [2]. - The third quarter of 2024 saw a decline in single-quarter performance, with revenue of 400 million yuan, down 2.6% year-on-year and 15.3% quarter-on-quarter. The net profit attributable to the parent company was 60 million yuan, down 24.5% year-on-year and 35.0% quarter-on-quarter [1][2]. Financial Summary - For 2024, the company is projected to achieve total revenue of 1.74 billion yuan, a year-on-year growth of 16.5%. The net profit attributable to the parent company is expected to be 283 million yuan, reflecting a significant increase of 63.6% [4]. - The earnings per share (EPS) for 2024 is estimated at 0.46 yuan, with a price-to-earnings (P/E) ratio of 16 times [4][3]. - The company’s gross margin for Q3 2024 was 35.5%, a decrease of 2.2 percentage points year-on-year, while the net profit margin was 13.9%, down 4.4 percentage points year-on-year [2].

证券代码：002452 证券简称：长高电新 公告编号：2024-67 长高电新科技股份公司 第六届董事会第十六次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，并对公告中的虚 假记载、误导性陈述或者重大遗漏承担责任。 长高电新科技股份公司（以下称"公司"）第六届董事会第十六次会议于 2024 年 10 月 25 日以通讯表决的方式召开。公司于 2024 年 10 月 17 日以专人送达及 电子邮件、微信等形式通知了全体董事，本次董事会会议应出席董事 9 人，亲自 出席董事 9 人，公司监事及高级管理人员列席会议。本次会议对出席人数、召集 召开程序、议事内容均符合《中华人民共和国公司法》及《公司章程》的要求。 公司董事长马孝武先生为本次董事会主持人。 一、与会董事对本次会议审议的全部议案进行讨论，并以表决票表决的方式， 进行了审议表决： 1、审议通过了《关于审议公司 2024 年第三季度报告的议案》； 同意公司按照定期报告编制的相关格式指引及要求，根据公司财务部门提交 的 2024 年三季度财务报表编制的《2024 年第三季度报告》。 表决结果：9 票赞成，0 票反对，0 票弃权，一致通过。 ...

证券代码：002452 证券简称：长高电新 公告编号：2024-69 长高电新科技股份公司 关于全资子公司之间吸收合并的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，并对公告中的虚 假记载、误导性陈述或者重大遗漏承担责任。 一、吸收合并概述 为进一步规划公司业务发展，优化公司管理结构，提高运营效率，长高电新 科技股份公司（以下称"公司"）于 2024 年 10 月 25 日召开第六届董事会第十六 次会议，审议通过了《关于审议子公司之间吸收合并的议案》，同意由全资子公 司湖南长高高压开关有限公司（以下简称"长高开关"）吸收合并全资子公司湖 南长高智能电气有限公司（以下简称"长高智能"）和湖南长高矿山机电设备有 限公司（以下简称"长高矿机"）。本次吸收合并完成后，长高开关存续，长高智 能和长高矿机将依法注销，长高智能和长高矿机的全部资产、负债、权益、业务、 人员等均由长高开关承继。 本次吸收合并不构成关联交易，也不构成《上市公司重大资产重组管理办法》 规定的重大资产重组情形。根据《公司章程》规定，本次吸收合并无需提交公司 股东大会审议。 二、吸收合并双方基本情况 （一）吸收合并方基本情况 1、公司名称 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥402,473,763.37, a decrease of 2.60% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥59,596,004.64, down 24.54% year-on-year[2]. - The net profit after deducting non-recurring gains and losses was ¥56,072,878.18, a decrease of 25.79% compared to the previous year[2]. - The basic earnings per share for Q3 2024 was ¥0.0968, reflecting a decline of 23.96% year-on-year[2]. - Total revenue for the third quarter reached ¥1,131,746,201.16, an increase of 6.3% compared to ¥1,064,368,390.95 in the same period last year[14]. - The company's net profit margin improved, with net profit attributable to shareholders reaching ¥1,076,766,259.92, compared to ¥938,224,482.09 in the previous year, marking a growth of 14.8%[13]. - The net profit for Q3 2024 was CNY 181,061,408.87, an increase of 11.5% compared to CNY 162,916,417.88 in Q3 2023[15]. - Operating profit for Q3 2024 reached CNY 213,826,384.73, up from CNY 199,220,549.88 in the same period last year, reflecting a growth of 7.9%[15]. - The total comprehensive income attributable to the parent company was CNY 181,079,057.17, compared to CNY 162,916,417.88 in Q3 2023, marking an increase of 11.1%[15]. - Earnings per share for Q3 2024 were CNY 0.2952, up from CNY 0.2644 in Q3 2023, representing a growth of 11.5%[15]. Cash Flow and Investments - The net cash flow from operating activities for Q3 2024 was ¥246,060,911.12, representing a significant increase of 102.84% year-on-year[5]. - The net cash flow from investment activities improved by 81.15% year-on-year, amounting to CNY -45,699,412.28, due to decreased expenditures on structured deposit financial products[6]. - Cash inflow from financing activities increased by 196.63% to CNY 59,305,374.20, mainly from employee stock subscription payments[6]. - Cash outflow from financing activities rose by 144.44% to CNY 153,701,651.76, driven by increased cash dividends and stock repurchase expenditures[6]. - The net increase in cash and cash equivalents was CNY 105,900,334.83, a 164.66% improvement, attributed to higher cash generated from operating and investment activities[6]. - Cash flow from operating activities generated CNY 1,354,496,233.45, compared to CNY 1,208,344,110.49 in Q3 2023, indicating a year-over-year increase of 12.1%[16]. - The company reported a net cash flow from financing activities of -CNY 94,396,277.56, worsening from -CNY 42,886,687.64 in the previous year[17]. - Cash and cash equivalents at the end of Q3 2024 totaled CNY 865,291,209.14, an increase from CNY 503,300,088.34 at the end of Q3 2023[17]. Assets and Liabilities - The total assets at the end of Q3 2024 amounted to ¥3,354,712,245.35, an increase of 3.50% from the end of the previous year[2]. - The total liabilities increased to ¥1,018,553,241.53 from ¥979,655,856.73, showing a rise of 4.0%[12]. - The equity attributable to shareholders at the end of Q3 2024 was ¥2,334,009,680.33, up 3.30% from the previous year[2]. - The company’s equity attributable to shareholders increased to ¥2,334,009,680.33 from ¥2,259,339,573.43, reflecting a growth of 3.3%[13]. - The company reported a significant increase in accounts payable, which rose to ¥480,274,342.18 from ¥425,075,916.18, a growth of 12.9%[12]. Expenses - Management expenses for Q3 2024 rose to ¥83,547,891.52, a 30.65% increase compared to the same period last year[5]. - Operating costs for the quarter were ¥946,992,912.18, up from ¥872,596,075.63, reflecting a year-over-year increase of 8.5%[14]. - Research and development expenses for the quarter were ¥53,055,299.97, compared to ¥42,862,485.01 in the previous year, an increase of 23.5%[14]. - The company incurred a total operating expense of CNY 1,108,435,322.33, slightly up from CNY 1,087,038,228.62 in Q3 2023[16]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 32,922, with the largest shareholder holding 13.59% of shares[7]. - The employee stock ownership plan subscribed for 13,182,200 shares at a price of CNY 3.361 per share, totaling CNY 44,305,374.20 in subscription payments[9]. - The company repurchased shares amounting to CNY 80.01 million during the reporting period, which contributed to the increase in cash outflows from financing activities[6]. Market Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18].

证券代码：002452 证券简称：长高电新 公告编号：2024-65 下，直接占用本协议项下授信额度。长高电气就本次授信与招行长沙分行签订了《最高 额不可撤销担保书》（编号：731XY240910T00007401），最高额担保金额 1000 万元，长 高弘瑞少数股东郭周平、郭乔林按照其在长高弘瑞的持股比例向长高电气提供反担保。 长高电新科技股份公司（以下简称"公司"）分别于 2024 年 3 月 25 日和 2024 年 4 月 19 日召开第六届董事会第十次会议和 2023 年年度股东大会，审议通过了《关于审议 2024 年度为子公司提供担保额度预计的议案》，根据子公司业务发展需要，为提高决策 效率，公司拟为全资、控股子公司的日常经营事项提供合计不超过人民币 62,400 万元的 担保额度，其中向资产负债率为 70%以上（含）的控股子公司提供的担保额度为 2,000 万元，向资产负债率低于 70%的控股子公司提供的担保额度合计不超过 60,400 万元。 对于 70%以上纳入合并报表范围（含 70%）的子公司，可以提供全额担保，但少数股东 须提供相应的反担保。上述担保额度包含了公司对子公司和孙公司以及子公 ...

长高电新科技股份公司 根据企业会计准则相关规定，公司对持有富特科技的股权按照"长期股权投 资"科目列报，并对其采用"权益法"进行核算。富特科技上市不会对公司当期 业绩及财务状况产生重大影响。敬请广大投资者理性投资，注意风险。 特此公告。 长高电新科技股份公司 关于参股公司首次公开发行股票并在创业板上市的公告 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。 长高电新科技股份公司（以下简称"公司"）的参股公司浙江富特科技股份 有限公司（以下简称"富特科技"）于 2024 年 9 月 4 日在深圳证券交易所创业板 上市，股票简称：富特科技，股票代码：301607，发行价格为 14 元/股。富特科 技在创业板上市的详细内容可在巨潮资讯网（http://www.cninfo.com.cn）上查阅。 证券代码：002452 证券简称：长高电新 公告编号：2024-64 截至本公告披露日，公司持有富特科技 804.12 万股，占其首次公开发行后 总股本的 7.24%。公司持有的富特科技上述股份自其上市之日起 12 个月内不得 转让。 2024 年 9 月 5 日 董 事 会 ...

三、中标风险提示 一、中标公告主要内容 本次中标公示媒体是国家电网有限公司电子商务平台，招标人是国家电网有 限公司，详细内容请查看国家电网有限公司电子商务平台。 二、中标对公司的影响和本次中标的意义 本次四个子公司上述中标金额合计人民币 23,308.02 万元，占公司 2023 年经 审计合并营业收入的 15.61%。签署正式合同后，其合同的履行预计将对公司 2024 年及以后年度的经营业绩产生积极影响，且不影响公司的独立性。 证券代码：002452 证券简称：长高电新 公告编号：2024-63 长高电新科技股份公司 关于子公司在国家电网中标的公告 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。 2024 年 9 月 3 日，国家电网有限公司电子商务平台（https://ecp.sgcc.com.cn） 发布了《国家电网有限公司 2024 年第五十五批采购（输变电项目第四次变电设 备（含电缆）招标采购）中标公告》。长高电新科技股份公司（以下简称"公司"） 100%纳入合并报表范围内的子公司湖南长高电气有限公司、湖南长高高压开关 有限公司、湖南长高森源电力设备 ...

Investment Rating - The report maintains a "Buy" rating for the company Changgao Electric (002452) [2][4][6] Core Views - The company's performance is stable, with significant growth in high-voltage products expected to drive future revenue [2][3] - In H1 2024, the company achieved revenue of 730 million yuan, a year-on-year increase of 12%, and a net profit of 120 million yuan, up 43% year-on-year [3][4] - The company is positioned to benefit from increased investment in the power grid, with expectations for annual grid investment to exceed 600 billion yuan [3][4] Financial Performance Summary - In H1 2024, the company's revenue from power transmission and transformation business showed steady growth, with significant improvements in profitability [3] - The revenue from subsidiaries in the power transmission and transformation equipment sector was as follows: Changgao Switch (180 million yuan, +7% YoY), Changgao Electric (370 million yuan, +18% YoY), Changgao Complete (80 million yuan, +14% YoY), and Changgao Senyuan (110 million yuan, +0.3% YoY) [3] - The company’s gross profit margin increased to 36.4%, up 3.6 percentage points year-on-year, while the net profit margin rose to 16.6%, up 3.7 percentage points year-on-year [3] Earnings Forecast - The company is expected to achieve revenues of 1.8 billion yuan, 2.3 billion yuan, and 2.7 billion yuan for the years 2024, 2025, and 2026, respectively, with year-on-year growth rates of 21%, 26%, and 19% [4][6] - The net profit forecast for the same period is 300 million yuan, 390 million yuan, and 480 million yuan, with growth rates of 71%, 31%, and 23% [6][7] - The report indicates that the company's earnings per share (EPS) will be 0.48 yuan, 0.63 yuan, and 0.77 yuan for 2024, 2025, and 2026, respectively [6][7]

Investment Rating - The investment rating for the company is "Buy - A" with a 6-month target price of 7.50 CNY [4][8]. Core Views - The company reported a revenue of 729 million CNY for the first half of 2024, representing a year-on-year growth of 11.99%, and a net profit attributable to the parent company of 121 million CNY, up 42.84% year-on-year [1][2]. - The equipment segment showed steady growth, with revenue from power transmission and transformation equipment reaching 690 million CNY, a year-on-year increase of 12.22%. The gross margin for this segment improved to 38.21%, up 2.90 percentage points year-on-year [2][3]. - The engineering segment's revenue for the first half of 2024 was 28 million CNY, reflecting a year-on-year growth of 14.32%, aided by reduced operating costs [2]. Summary by Sections Financial Performance - In Q2 2024, the company achieved revenue of 475 million CNY, a year-on-year increase of 12.19%, and a net profit of 92 million CNY, up 41.95% year-on-year [1]. - The company expects revenues of 1.93 billion CNY, 2.62 billion CNY, and 3.46 billion CNY for 2024, 2025, and 2026 respectively, with growth rates of 29.1%, 35.7%, and 32.2% [7][9]. Market Position and Orders - The company secured significant orders from the State Grid, totaling 261 million CNY, 222 million CNY, 271 million CNY, and 233 million CNY across four bidding rounds [3]. - New product lines, including 500kV combined electrical appliances, have contributed to a strengthened product portfolio and improved market position [3]. Valuation Metrics - The company is projected to have a PE ratio of 24 times for comparable companies in 2024, while the company itself is given a PE of 15 times, leading to a target price of 7.50 CNY [8][10].