关于召开2023年年度股东大会的提示性公告 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2024年4月12日在 《证券时报》、《上海证券报》和巨潮资讯网（www.cninfo.com.cn）刊登了 《关于召开2023年年度股东大会的通知》（公告编号：2024-016），现根据有 关规定，就召开本次股东大会的相关事项再次通知如下： 一、召开会议基本情况 1、股东大会的届次：2023年年度股东大会。 2、会议召集人：公司董事会。 证券代码：002484 证券简称：江海股份 公告编号：2024-022 南通江海电容器股份有限公司 3、会议召开的合法、合规性：本次股东大会召开经公司第六届董事会第三 次会议审议通过，召集程序符合有关法律、行政法规、部门规章、规范性文件和 《公司章程》的规定。 4、会议时间： （1）现场会议召开时间：2024年5月9日（星期四）下午14:30。 （2）网络投票时间为：2024年5月9日。其中通过深圳交易所系统进行网络 投票的具体时间为：2024年5月9日9:15—9:25,9:30—11:30 ...

证券代码:002484 证券简称:江海股份 公告编号:2024-021 1、公司未在下列期间回购股份： （1）自可能对本公司证券及其衍生品种交易价格产生重大影响的重大事项 发生之日或者在决策过程中，至依法披露之日内； 南通江海电容器股份有限公司 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 2024 年 1 月 31 日召 开第六届董事会第二次会议，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 2024 年 2 月 1 日公司在指定信息披露媒体及巨潮资讯网（www.cninfo.com.cn） 上披露的《南通江海电容器股份有限公司关于回购公司股份方案的公告》（公告 编号：2024- ...

Financial Performance - The company's operating revenue for Q1 2024 was ¥1,051,101,283.76, a decrease of 11.12% compared to ¥1,182,598,365.60 in the same period last year [24]. - Net profit attributable to shareholders was ¥136,908,045.59, down 11.32% from ¥154,383,125.06 year-on-year [24]. - The net cash flow from operating activities was ¥104,341,039.06, reflecting a decline of 6.75% compared to ¥111,898,626.09 in the previous year [24]. - Basic earnings per share decreased to ¥0.1620, down 11.76% from ¥0.1836 in the same period last year [24]. - Total operating revenue for Q1 2024 was CNY 1,051,101,283.76, a decrease of 11.1% compared to CNY 1,182,598,365.60 in the same period last year [43]. - Net profit for the first quarter was approximately ¥138.5 million, a decrease of 10.3% compared to ¥154.4 million in the same period last year [44]. - The total comprehensive income for the first quarter was approximately ¥122.2 million, down from ¥160.3 million year-over-year [45]. Cash Flow - Net cash flow from investing activities increased by CNY 38,269,297.71, a growth of 40.36%, mainly due to changes in structured financial products and fixed asset investments [10]. - Net cash flow from financing activities decreased by CNY 65,982,231.18, a decline of 231.41%, primarily due to increased exercise payments and stock repurchases [10]. - The net increase in cash and cash equivalents rose by CNY 223,801,782.04, an increase of 30.09%, resulting from the aforementioned changes [10]. - Cash outflow from operating activities totaled CNY 688,172,055.01, compared to CNY 794,615,171.13 in the previous year, indicating a reduction of 13.4% [36]. - The company reported a net cash outflow from investment activities of CNY -56,562,149.18, an improvement from CNY -94,831,446.89 in the prior year [36]. - Cash inflow from financing activities was CNY 61,192,280.96, an increase from CNY 51,389,922.40 year-over-year [36]. - The ending cash and cash equivalents balance was approximately ¥967.7 million, down from ¥743.9 million year-over-year [48]. Assets and Equity - Total assets at the end of the reporting period were ¥7,360,178,926.66, an increase of 1.34% from ¥7,263,050,307.80 at the end of the previous year [24]. - Shareholders' equity attributable to the parent company increased by 1.67% to ¥5,612,717,643.85 from ¥5,520,321,750.53 [24]. - The total current assets amounted to ¥4,437,528,612.05, a marginal increase from ¥4,416,704,764.34 [24]. - The company’s long-term equity investments were valued at ¥142,323,925.59, showing a slight decrease from ¥142,391,771.67 [24]. - The company’s cash and cash equivalents were reported at ¥1,029,798,346.21, slightly down from ¥1,033,226,187.18 [24]. - The company experienced a foreign exchange loss impacting cash and cash equivalents of approximately ¥17.0 million [48]. Expenses and Costs - Total operating costs were approximately ¥929.5 million, down 7.6% from ¥1,006.0 million year-over-year [44]. - Research and development expenses increased to approximately ¥66.5 million, up 15.6% from ¥57.5 million year-over-year [44]. - Financial expenses decreased by CNY 7,617,575.42, a decline of 158.64%, mainly due to changes in exchange gains and losses [10]. Other Income and Investments - Other income increased by CNY 22,597,301.79, an increase of 197.62%, primarily due to an increase in VAT deductions [10]. - Investment income rose by CNY 3,604,193.09, an increase of 330.75%, mainly due to increased sales and gross profit from an associated company [10]. - The company reported a non-operating income of ¥8,479,968.01 related to government subsidies [24]. Future Outlook - The net increase in policyholder deposits and investment funds was not specified but is a key focus area for future growth [36]. - The company aims to enhance its market expansion strategies and product development initiatives in the upcoming quarters [36]. - The company is committed to implementing new accounting standards starting from 2024, which may impact future financial reporting [38].

证券代码：002484 证券简称：江海股份 公告编号：2024-019 南通江海电容器股份有限公司 关于控股股东股份转让暨控制权变更事项的进展公告 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。 一、本次权益变动的基本情况 1、2024 年 3 月 12 日，南通江海电容器股份有限公司（以下简称 "公司" 或"上市公司"）控股股东亿威投资有限公司（以下简称"亿威投资"、"转让方"） 与浙江省经济建设投资有限公司（以下简称"浙江经投"、"受让方"）签署了《股 份转让协议》，亿威投资拟通过协议转让的方式向浙江经投出让其持有的南通江 海电容器股份有限公司 170,130,000 股股份，占上市公司总股本的 20.02%（以下 简称"本次权益变动"）。本次权益变动后，亿威投资仍持有 74,891,000 股上市 公司股份，占上市公司总股本的 8.81%。本次权益变动前，浙江经投不持有上市 公司股份。本次权益变动后，浙江经投将直接持有上市公司 170,130,000 股股份， 占上市公司总股本的 20.02%。本次权益变动后，浙江经投将成为上市公司控股 股东，浙江省国资委将成 ...

Investment Rating - Buy rating maintained for Jianghai Capacitor (002484 SZ) with a target price of 15 09 RMB per share [3] Core Views - Jianghai Capacitor achieved steady growth in 2023 with revenue of 4 845 billion RMB, up 7 15% YoY, and net profit of 707 million RMB, up 6 93% YoY [3] - The company is well-positioned to capitalize on opportunities in new energy and AI sectors, with significant breakthroughs in MLPC technology for AI servers [5] - Three major businesses (aluminum electrolytic capacitors, film capacitors, and supercapacitors) are developing synergistically, with film capacitors entering a rapid growth phase [4] Business Performance Aluminum Electrolytic Capacitors - Revenue of 3 97 billion RMB in 2023, up 10 8% YoY, with a gross margin of 27 65%, down 0 22 pct YoY [2] - Benefiting from new energy sector growth, MLPC technology for AI servers is expected to be a key growth driver [2] Film Capacitors - Revenue of 456 million RMB in 2023, up 40 66% YoY, with a gross margin of 18 23%, down 2 32 pct YoY [2] - Entering mass application phase in consumer electronics and industrial equipment, with batch deliveries in new energy, EVs, and military sectors [2] Supercapacitors - Revenue of 221 million RMB in 2023, down 27 87% YoY, with a gross margin of 16 3%, down 6 84 pct YoY [2] - Gaining recognition in various fields including vehicles, medical instruments, and new energy, with more application prospects expected [2] Electrode Foil - Revenue of 164 million RMB in 2023, down 37 09% YoY, with a gross margin of 20 89%, up 4 42 pct YoY [2] - Completed relocation of Shaanxi production base and technical upgrades in Inner Mongolia, ensuring global competitiveness [2] Financial Forecasts - Revenue expected to grow to 5 606 billion RMB in 2024, 6 695 billion RMB in 2025, and 7 949 billion RMB in 2026, with YoY growth rates of 16%, 19%, and 19% respectively [3] - Net profit forecasted at 832 million RMB in 2024, 1 033 billion RMB in 2025, and 1 265 billion RMB in 2026, with YoY growth rates of 18%, 24%, and 22% respectively [3] - EPS projected at 0 98 RMB in 2024, 1 22 RMB in 2025, and 1 49 RMB in 2026 [3] Valuation Metrics - P/E ratios of 19 4x in 2024, 15 4x in 2025, and 12 4x in 2026 [3] - P/B ratios of 2 6x in 2024, 2 1x in 2025, and 1 9x in 2026 [3] Market Position - One of the few global companies in the power electronics field with R&D, manufacturing, and sales capabilities across three major capacitor categories [5] - Products widely used in smart home appliances, 5G communications, photovoltaic and wind power, energy storage, and industrial automation [5]

Investment Rating - The investment rating for the company is "Buy" [6][8]. Core Views - The company's performance in 2023 showed steady growth, with revenue reaching 4.845 billion yuan, a year-on-year increase of 7.15%, and a net profit attributable to shareholders of 707 million yuan, up 6.93% year-on-year. The gross margin was 26.08%, slightly down by 0.29 percentage points [2][3]. - The company is a leading global manufacturer of aluminum electrolytic capacitors, with a solid foundation and significant growth potential in expanding markets such as film capacitors and supercapacitors [2][3]. Financial Summary - In 2023, the company achieved a revenue of 4.845 billion yuan, with a year-on-year growth of 7.15%. The net profit attributable to shareholders was 707 million yuan, reflecting a year-on-year increase of 6.93%. The gross margin stood at 26.08%, a slight decrease of 0.29 percentage points [2][4]. - For the fourth quarter of 2023, the company reported a revenue of 1.067 billion yuan, down 15.61% year-on-year and 18.25% quarter-on-quarter. The net profit attributable to shareholders was 160 million yuan, a decrease of 9.06% year-on-year and 14.22% quarter-on-quarter [2][4]. - The company has revised its profit forecasts for 2024 to 807 million yuan, 2025 to 954 million yuan, and introduced a new forecast for 2026 at 1.135 billion yuan, with corresponding EPS of 0.95, 1.12, and 1.34 yuan respectively [2][4]. Business Development - The company has successfully advanced its various business lines, with aluminum electrolytic capacitors seeing over 30% growth in applications such as new energy, energy storage, electric vehicles, and charging piles. The solid-state layered polymer capacitors have made breakthroughs, laying the foundation for high-end applications like AI [3][7]. - The film capacitors segment achieved a revenue growth of 40.66% year-on-year, while the supercapacitors have established a scalable development foundation, showing good growth potential in both traditional and emerging markets [3][7]. Market Demand - Emerging application fields such as data centers, 5G communication equipment, and electric vehicles are driving rapid growth in demand for capacitors and other basic components [3][7]. - The company is focusing on specialized layouts in various product directions for film capacitors, including coating, safety regulations, DC Link, AC, box-type, and modular products, which are beginning to be delivered in bulk in new energy and electric vehicle sectors [3][7].

本报告仅供 Choice 东方财富 使用，请勿传阅。 2024 年 04 月 12 日 江海股份(002484.SZ) 业绩短期承压，新兴市场开拓驱动长期 成长 事件：4 月 11 日公司发布 2023 年报，2023 年实现收入 48.45 亿 元，同比增长 7.15%；实现归母净利润 7.07 亿元，同比增长 6.93%； 实现扣非归母净利润 6.56 亿元，同比增长 2.89%。以 849,953,221 股为基数，公司拟向全体股东每 10 股派发现金红利 2.6 元（含税）， 对应现金分红金额约 2.21 亿元（含税）。 需求不足叠加降价压力，业绩短期承压： 在行业景气度受宏观经济影响、需求不足、内卷加剧的背景下，2023 年公司收入及业绩仍实现一定增长；全年毛利率 26.08%，净利率 14.66%，同比保持稳定。23H2 以来量价两端承压情况进一步加剧， 23Q4 收入及业绩同环比均有所下滑。展望未来，我们认为公司作为 全球少数几家同时布局三大电容、并拥有最齐全品种及最完整产业链 的企业，近年来积极研发新产品与核心材料、开拓新市场及新客户、 推进降本增效与节能措施，并已逐步取得一定成效，长期稳健发 ...

Financial Performance - The company's operating revenue for 2023 was CNY 4,844,923,743, representing a 7.15% increase from CNY 4,521,681,374.62 in 2022[44] - The net profit attributable to shareholders for 2023 was CNY 707,069,109.46, up 6.93% from CNY 661,242,022.68 in the previous year[44] - The net profit after deducting non-recurring gains and losses was CNY 655,749,439.53, a 2.89% increase compared to CNY 637,316,962.12 in 2022[44] - The net cash flow from operating activities increased by 36.72% to CNY 570,344,924.47 from CNY 417,175,500.33 in 2022[44] - The total assets at the end of 2023 were CNY 7,263,050,307.80, a 9.91% increase from CNY 6,608,454,319.83 at the end of 2022[44] - The net assets attributable to shareholders increased by 12.92% to CNY 5,520,321,750.53 from CNY 4,888,787,301.30 in 2022[44] Revenue Breakdown - The revenue from aluminum electrolytic capacitors was ¥3,969,679,618, accounting for 81.93% of total revenue, with a growth of 10.80% year-on-year[55] - The revenue from film capacitors increased by 40.66% year-on-year, reaching ¥456,078,330, while supercapacitor revenue decreased by 27.87% to ¥221,190,729[55] - The domestic sales accounted for 73.79% of total revenue, amounting to ¥3,574,912,483, while international sales decreased by 7.88% to ¥1,270,011,259[56] Research and Development - The company has established a national postdoctoral research station and a provincial engineering technology research center, enhancing its core competitiveness through continuous investment in R&D[51] - Research and development expenses increased by 6.06% to approximately ¥232.21 million, reflecting the company's commitment to innovation[87] - The number of R&D personnel increased by 9.26% to 602 in 2023, compared to 551 in 2022[109] Market Strategy - The company plans to enhance its core material R&D and production to increase the proportion of self-produced materials and accelerate the launch of new products[7] - The company aims to expand its domestic sales while utilizing its production base in Japan for new export opportunities[30] - The company is actively expanding its product line and application scenarios, particularly in high-end applications such as communication and artificial intelligence[69] Operational Efficiency - The company has completed the relocation of its core material production base for aluminum electrolytic capacitors, achieving lower costs and higher efficiency[49] - The company is focusing on talent development and ESG initiatives to enhance its soft power and operational capabilities[70] - The company is focusing on energy-saving and cost-reduction technologies to balance the negative impact on operating income[7] Customer and Sales Dynamics - The top five customers accounted for 20.64% of total annual sales, with the largest customer contributing 7.43%[84] - The company signed significant sales contracts and maintained a strong international cooperation network, enhancing its market position[75] Cash Flow and Investments - The net cash flow from financing activities decreased by 153.83% in 2023 due to reduced borrowing and increased profit distribution[112] - The net increase in cash and cash equivalents was approximately ¥270.19 million, a significant increase of 391.26% compared to the previous year[89] - The company committed to invest a total of 120,000,000 yuan in projects, with 76.37% and 79.10% of the investment progress achieved for the supercapacitor industrialization and high-voltage large-capacity film capacitor expansion projects respectively[121] Accounts Receivable and Bad Debt - The company reported a total accounts receivable balance of CNY 1,679,406,722.61 at the end of the period, an increase from CNY 1,604,503,542.40 at the beginning of the period, representing a growth of approximately 4.67%[172] - The company has a bad debt provision of CNY 90,794,680.29, which increased from CNY 87,865,646.07, indicating a provision increase of about 2.2%[179] - The company’s receivables overdue for more than one year amounted to CNY 69,550,214.61, which is consistent with the previous year's figure of CNY 69,249,920.80, showing stability in long-term receivables[172] Employee and Management - The total number of employees and their professional composition, as well as educational levels, were reviewed during the reporting period[189] - The company has a comprehensive training program for employees, including safety and environmental management training[192] - The company’s management compensation is primarily based on annual salary and stock incentives, with performance evaluations influencing the final compensation[198]

南通江海电容器股份有限公司 证券代码：002484 证券简称：江海股份 公告编号：2024-011 第六届监事会第二次会议决议公告 本公司及监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）第六届监事会第二次会议于 2024年4月11日在公司会议室召开，通知于2024年4月1日以邮件、微信等送达方 式发出，会议于2024年4月11日在公司一楼会议室以现场方式召开。会议由监事 会主席钱志伟主持，会议应到监事3人，实到监事3人，公司监事会主席钱志伟先 生、监事蔡志忠先生、顾华女士以现场方式参加本次会议。符合《公司法》和《公 司章程》的规定，会议审议并通过如下决议： 价的原则定价，没有违反公开、公平、公正的原则，不存在损害公司和中小股东 利益的行为并同意提交公司 2023 年年度股东大会表决。具体内容详见公司指定 信息披露网站"巨潮资讯网"（www.cninfo.com.cn）公告同时刊登在《证券时报》、 《上海证券报》。 1、审议通过了《公司 2023 年度监事会工作报告》 《2023 年度监事会工作报告》的具体内容详见刊登于公司指定信息 ...

3、审议通过了《关于2023年度董事会工作报告的议案》，并同意提交公司 2023年年度股东大会表决。 独立董事沈小燕、古群、陈达亮、张斌向董事会递 交了独立董事述职报告，并将在2023年年度股东大会上进行述职。《独立董事 证券代码:002484 证券简称：江海股份 公告编号：2024-010 南通江海电容器股份有限公司 第六届董事会第三次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，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"）第六届董事会第三次 会议（以下简称"会议"）通知于2024年4月1日以邮件、微信等送达方式发 出，会议于2024年4月11日在公司一楼会议室以现场结合通讯方式召开。应到董 事9人，实到董事9人。公司监事、高级管理人员列席了本次会议。本次会议的 召集、召开以及参与表决董事人数符合《中华人民共和国公司法》、《公司章 程》等有关法律、法规的规定。会议由董事长陈卫东先生主持，经参加会议董 事认真审议并经记名投票方式表决，通过以下决议： 1、审议通过了《关于2023年度总裁工作报告的议案》。 本议案赞成票9票，反对票0票，弃权票0票，此 ...