证券代码：002484 证券简称：江海股份 公告编号：2025-032 全体股东每 10 股派发现金股利人民币 2.60 元（含税），不送红股，不以资金公 积金转增股本，此次分配后剩余可分配利润留待以后年度分配。共计派发 219,492,252.98 元（含税），送红股 0 股（含税），不以公积金转增股本。 自 2025 年 5 月 30 日起公司回购股份价格上限由不超过 20 元/股调整为不 超过 19.74 元/股 一、股份回购事项基本情况 南通江海电容器股份有限公司（以下简称"公司"或"江海股份"）于 2025 年 4 月 8 日召开第七届董事会第三次会议审议通过了《关于回购公司股份方案的 议案》。公司决定以自有资金通过深圳证券交易所交易系统以集中竞价交易方式 回购公司已发行的部分人民币普通股（A 股）股票，并在未来将前述回购股份用 于股权激励计划或员工持股计划。回购股份价格不超过人民币 20 元/股，回购资 金总额不低于人民币 5,000 万元（含），不超过人民币 10,000 万元（含）。具体 内容详见 2025 年 4 月 9 日 公 司 在 指 定 信 息 披 露 媒 体 及 巨 潮 资 讯 网 ...

证券代码：002484 证券简称：江海股份 公告编号：2025-031 南通江海电容器股份有限公司 2024年年度权益分派实施公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 南通江海电容器股份有限公司（以下简称"公司"或"本公司"或"我公 司"）第七届董事会第二次会议及 2024 年年度股东大会先后审议通过了关于 2024 年年度利润分配的预案，以公司现有总股本剔除已回购股份 6,322,968.00 股后的 844,200,973 股为基数，向全体股东每 10 股派 2.600000 元人民币现金 （含税）。公司通过回购专用证券账户所持有本公司股份不参与本次利润分 配。若利润分配预案披露后至实施前公司总股本发生变化，公司将按照"维持 每股分配不变"的原则，以未来实施分配方案时股权登记日的总股本为基数进 行利润分配。 公司本次实际现金分红的总金额=实际参与分配的总股本×分配比例，即 219,492,252.98 元=844,200,973 股×0.26 元/股；本次权益分派实施后，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 ...

2024年年度股东大会决议公告 本公司及其董事、监事、高级管理人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、重要提示： 1、本次股东大会召开期间没有增加、否决或变更议案情况发生； 证券代码：002484 证券简称：江海股份 公告编号：2025-030 南通江海电容器股份有限公司 2、本次股东大会不涉及变更前次股东大会决议的情况； 2、（1）现场会议召开时间：2025年5月20日（星期二）下午14:30。 （2）网络投票时间为：2025年5月20日。其中通过深圳交易所系统进行网 络投票的具体时间为：2025年5月20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：2025年5月20 日9:15至下午15:00期间的任意时间。 3、现场会议地点：江苏省南通市通州区平潮镇通扬南路79号南通江海电容 器股份有限公司会议室； 4、会议方式： 现场投票与网络投票表决相结合的方式； 3、审议公司 2025 年度日常经营关联交易预计议案时关联股东回避； 5、股权登记日：2025 年 5 月 14 日； ...

江海股份 法律意见书 江苏世纪同仁律师事务所关于 南通江海电容器股份有限公司 2024 年年度股东大会的法律意见书 南通江海电容器股份有限公司： 根据《公司法》《证券法》和中国证监会《上市公司股东会规则》等法律、 法规和规范性文件以及《公司章程》的规定，本所受贵公司董事会的委托，指派 律师出席贵公司 2024 年年度股东大会，并就本次股东大会的召集、召开程序、 出席会议人员资格、召集人资格、表决程序和表决结果的合法有效性出具本法律 意见书。 为出具本法律意见书，本所律师对本次股东大会所涉及的有关事项进行了审 查，查阅了相关会议文件，并对有关问题进行了必要的核查和验证。 2、贵公司本次股东大会于 2025 年 5 月 20 日下午 14：30 在公司会议室如期 召开，会议由公司董事长陈卫东先生主持，会议召开的时间、地点符合本次股东 大会通知的要求。 本所律师同意将本法律意见书随贵公司本次股东大会决议一并公告，并依法 对本法律意见书承担相应的责任。 本所律师根据相关法律、法规和规范性文件的要求，按照律师行业公认的业 务标准、道德规范和勤勉尽责精神，出具法律意见如下： 一、关于本次股东大会的召集、召开程序 1、本次 ...

中信证券股份有限公司 关于 南通江海电容器股份有限公司 详式权益变动报告书 之 2025 年第一季度持续督导意见 财务顾问 二零二五年五月 财务顾问声明 2024 年 3 月 12 日，浙江省经济建设投资有限公司（以下简称"收购人"、 "浙江经投"）与亿威投资有限公司（以下简称"亿威投资"）签署了《股份转 让协议》。2024 年 12 月 24 日浙江经投与亿威投资签署了《股份转让协议之补 充协议》，协议约定亿威投资将其持有的江海股份 127,578,590 股无限售条件普 通股以 19 元/股的价格转让给浙江经投，占上市公司总股本的比例约为 15%；同 日，亿威投资出具了《表决权放弃承诺函》，承诺自过户完成日起至过户完成满 18 个月之日的期间内，亿威投资放弃其持有的江海股份 59,536,675 股股份所对 应的所有表决权（包括但不限于该等股份对应的提案权、提名权、投票权），占 上市公司总股本的比例约为 7%。 本次交易完成后，浙江经投持有江海股份 134,207,090 股股份，占上市公司 总股本的比例约为 15.78%，上市公司控股股东由亿威投资变更为浙江经投，实 际控制人变更为浙江省人民政府国有资产 ...

特此公告。 证券代码:002484 证券简称：江海股份 公告编号：2025-029 南通江海电容器股份有限公司董事会 南通江海电容器股份有限公司 2025 年 5 月 7 日 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，公司应在回购期间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。截至 2025 年 4 月 30 日，公司尚未开始实施回 购。 后续公司将根据市场情况在回购期限内实施本次回购计划，并将在回购期间 根据相关法律、法规和规范性文件的规定及时履行信息披露义务，敬请广大投资 者注意投资风险。 关于回购公司股份的进展公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 南通江海电容器股份有限公司（以下简称"公司"）于 2025 年 4 月 8 日召开 第七届董事会第三次会议，审议通过了《关于回购公司股份方案的议案》。 公司 决定以自有资金通过深圳证券交易所交易系统以集中竞价交易方式回购公司已 发行的部分人民币普通股（A 股）股票，并在未来将前述回购股份用于股权激励 计划或员工持股计划。回购股份价格不 ...

Core Insights - The company reported a slight decline in revenue and net profit for 2024, with total revenue at 4.808 billion yuan, down 0.76% year-on-year, and net profit attributable to shareholders at 655 million yuan, down 7.41% year-on-year [1] - In Q1 2025, the company experienced a year-on-year revenue growth of 10.14%, reaching 1.158 billion yuan, while net profit increased by 11.04% to 152 million yuan [1] - The company’s aluminum electrolytic capacitors remain a key business area, with growth in applications such as consumer electronics and electric vehicles, supported by advancements in core materials and technology [2] Financial Performance - For 2024, the company’s operating income was 4.808 billion yuan, with a net profit of 655 million yuan and a non-recurring net profit of 613 million yuan, all showing a year-on-year decline [1] - In Q1 2025, the gross margin was 24.32%, an increase of 0.74 percentage points year-on-year, while the net profit margin was 13.21%, up 0.03 percentage points year-on-year [1] - The company’s expense ratios for sales, management, R&D, and financial costs in Q1 2025 were 1.99%, 3.82%, 5.15%, and -0.11% respectively, indicating a decrease in overall expense ratios year-on-year [1] Market Trends - The demand for aluminum electrolytic capacitors is growing, particularly in the fields of consumer electronics, electric vehicles, and charging stations, showcasing the company’s competitive product capabilities [2] - The AI server market is experiencing significant growth, with a projected 46% increase in global AI server shipments in 2024, which is expected to drive demand for the company’s supercapacitors [3] - The company is collaborating with key clients to develop power compensation solutions for AI servers and data centers, indicating a promising growth outlook for its supercapacitor business [3] Future Outlook - The company maintains a "buy" rating, with expectations for net profits of 802 million yuan, 1.006 billion yuan, and 1.2 billion yuan for 2025, 2026, and 2027 respectively, alongside projected EPS of 0.94, 1.18, and 1.41 yuan per share [4] - The growth in AI server demand is anticipated to significantly enhance the company’s performance, particularly in the supercapacitor segment [4]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 22.54 CNY [2][5][9] Core Views - The company demonstrates steady growth in performance, with Q1 2025 revenue reaching 1.16 billion CNY, a year-on-year increase of 10%, and a net profit of 150 million CNY, up 11% year-on-year [8] - The aluminum electrolytic capacitors are expanding their application scenarios, particularly in new energy, consumer electronics, electric vehicles, and charging piles, with the acquisition of Hitachi AIC contributing positively to performance [8] - Emerging business segments, particularly lithium-ion supercapacitors, are opening growth opportunities in AI server applications, with significant recognition from major enterprises in various fields [8] Financial Summary - The company's projected financials for 2025-2027 include: - Net profit attributable to the parent company: 838 million CNY in 2025, 1.014 billion CNY in 2026, and 1.182 billion CNY in 2027, reflecting growth rates of 28%, 21%, and 17% respectively [4][9] - Revenue is expected to grow from 5.771 billion CNY in 2025 to 7.695 billion CNY in 2027, with growth rates of 20%, 15.8%, and 15.2% [4][9] - Gross margin is projected to stabilize around 26.1% in 2025 and 26.4% in 2026 and 2027 [4][9] Market Performance - The company's stock price as of April 28, 2025, was 17.93 CNY, with a 52-week high of 28.85 CNY and a low of 10.98 CNY [5] - The report indicates a relative performance of -0.39% over the past week and -12.88% over the past month, while showing a positive annual performance of 19.99% [6]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 22.54 CNY [2][5][9]. Core Views - The company demonstrates steady growth in performance, with Q1 2025 revenue reaching 1.16 billion CNY, a year-on-year increase of 10%, and net profit attributable to the parent company at 150 million CNY, up 11% year-on-year [8]. - The aluminum electrolytic capacitor continues to expand its application scenarios, while film capacitors are entering a rapid growth phase [8]. - Emerging business segments, particularly lithium-ion supercapacitors, are opening growth opportunities in AI server applications [8]. Financial Performance Summary - **Revenue Forecast**: The company is projected to achieve revenues of 5.77 billion CNY in 2025, 6.68 billion CNY in 2026, and 7.70 billion CNY in 2027, reflecting growth rates of 20.0%, 15.8%, and 15.2% respectively [4][9]. - **Net Profit Forecast**: The net profit attributable to the parent company is expected to be 838 million CNY in 2025, 1.01 billion CNY in 2026, and 1.18 billion CNY in 2027, with growth rates of 28%, 21%, and 17% respectively [4][9]. - **Earnings Per Share**: The earnings per share are projected to be 0.98 CNY in 2025, 1.19 CNY in 2026, and 1.39 CNY in 2027 [4][9]. - **Profitability Ratios**: The gross margin is expected to stabilize around 26.1% in 2025 and 26.4% in 2026 and 2027, while the net margin is projected to be 14.5% in 2025 and improve to 15.4% by 2027 [4][9]. Market Performance - The company's stock price as of April 28, 2025, was 17.93 CNY, with a 52-week high of 28.85 CNY and a low of 10.98 CNY [5]. - The report indicates a relative performance of -0.39% over the past week and -12.88% over the past month, while showing a positive performance of 19.99% over the past year [6].

Core Insights - The company reported steady growth in Q1 2025, with revenue of 1.16 billion yuan (up 10% year-on-year) and a net profit of 150 million yuan (up 11% year-on-year), demonstrating strong resilience in performance [1] - The gross margin for Q1 2025 reached 24.3%, an increase of 0.7 percentage points year-on-year, while the net margin was 13.2%, up 0.03 percentage points year-on-year, benefiting from recovering downstream demand and improved product mix [1] Revenue Growth and Business Expansion - The aluminum electrolytic capacitors are expanding their application scenarios, with growth in sectors such as new energy, consumer electronics, electric vehicles, and charging stations [1] - The acquisition of Hitachi AIC has led to year-on-year growth in performance, while solid-state polymer capacitors (MLPC) have been recognized by several strategic customers [1] - The hybrid capacitors have made breakthroughs in the automotive sector, with potential growth exceeding 50% [1] - Film capacitors are entering a rapid growth phase, with significant applications in consumer electronics, industrial equipment, new energy, electric vehicles, and military industries [1] Emerging Business Opportunities - The company showcased its latest Power Capacitance Shelf rack in March 2025, integrating a new lithium-ion supercapacitor (LIC) solution, which is crucial for meeting the increasing power demands of AI and data centers [2] - The supercapacitors, particularly lithium-ion types, have gained recognition in various fields, including rail transit, automotive, medical instruments, new energy, power grids, and port machinery, entering mass application stages [2] - Revenue from supercapacitors is growing rapidly, with practical trials in power frequency regulation on both generation and user sides, indicating promising prospects in AI server applications [2] Profit Forecast and Valuation - The company forecasts net profits of 840 million yuan, 1.01 billion yuan, and 1.18 billion yuan for 2025, 2026, and 2027 respectively, with adjustments made to revenue and gross margin predictions for aluminum electrolytic, film, and supercapacitors [2] - Based on a comparable company average PE of 23 times for 2025, a target price of 22.54 yuan is set, maintaining a buy rating [2]