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：2024-002）。 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。现将公司回购股份的进展情况公告如下： 证券代码:002484 证 ...

证券代码：002484 证券简称：江海股份 公告编号：2024-024 南通江海电容器股份有限公司 关于参加深圳证券交易所"先进制造'创'未来"—— 集体业绩说明会的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，倾听投资者建议，让投资者深入了解南 通江海电容器股份有限公司（以下简称 "公司"）经营发展情况，公司定于 2024 年 5 月 29 日参加由深圳证券交易所举办的以"先进制造'创'未来"为主题的 集体业绩说明会活动。现将有关事项公告如下： 一、业绩说明会安排 1、召开时间：2024 年 5 月 29 日（星期三）15:00-17:00 2、召开地址：深圳证券交易所 811 会议厅 4、参会人员：公司董事长陈卫东先生、副总裁兼财务总监王军先生、副总 裁兼董事会秘书王汉明先生、独立董事古群女士。 二、投资者问题征集方式 为充分尊重投资者、提升交流的针对性，现就本次业绩说明会提前向投资者 公开征集问题，广泛听取投资者的意见和建议。投资者可提前登陆深交所"互动 1 易"平台（http://irm.cninfo.com.cn）" ...

Summary of the Conference Call on Jianghai Co., Ltd. Company Overview - Jianghai Co., Ltd. is a leading manufacturer of aluminum electrolytic capacitors and is expanding into emerging fields such as film capacitors and supercapacitors [7][16]. Industry Context - The overall economic growth has entered a new stable phase, influenced by regulatory changes regarding dividends and delistings [2]. - The passive components sector, particularly upstream components, is experiencing slower material and process upgrades compared to semiconductors, leading to a correlation with downstream application demand [3][4]. Key Points Financial Performance - Jianghai's dividend payout ratio is relatively low compared to peers, but there is an intention to increase it in the future as the industry stabilizes [5]. - As of Q3 2023, Jianghai's cash assets accounted for 12.9% of total assets, with free cash flow at 4.4% of revenue [5]. Market Position and Growth - Jianghai is positioned as a leader in aluminum electrolytic capacitors, with major applications in new energy sectors, including electric vehicles and industrial uses [6]. - The company is expected to maintain stable growth due to its scale advantages and cost efficiencies [6][17]. Revenue Composition - Over 80% of Jianghai's revenue comes from aluminum electrolytic capacitors, with film capacitors contributing less than 10% and supercapacitors under 5% [9][10]. - The company has a balanced revenue structure across various sectors, including consumer electronics, industrial control, and new energy applications [11][12]. Pricing and Cost Dynamics - Recent price pressures in the photovoltaic sector have affected overall revenue growth, leading to a narrowing of growth rates from 2023 to Q1 2024 [10][13]. - The company is implementing cost control measures to mitigate the impact of price declines, with expectations to maintain stable gross margins [14][16]. Future Outlook - The demand for aluminum electrolytic capacitors is expected to remain stable, with potential growth in the electric vehicle and charging station sectors [21][22]. - Jianghai is also focusing on expanding its film capacitor business, which is well-suited for applications in new energy vehicles [25][26]. - The supercapacitor segment is seen as a long-term growth area, with applications in wind power and energy storage systems [36][38]. Competitive Landscape - The market is dominated by established players like Farah Electronics, but Jianghai aims to leverage its customer relationships and competitive pricing to gain market share [30][35]. - The domestic market has room for growth in terms of localization and market share against foreign competitors [20][21]. Financial Projections - Expected net profits for Jianghai from 2024 to 2026 are projected at 884 million, 992 million, and 1.073 billion yuan, respectively, with corresponding PE ratios indicating a relatively low valuation [40]. Market Concerns - There are concerns regarding potential further price declines and whether the current demand recovery is sustainable or primarily driven by inventory replenishment [41][42]. Conclusion - Jianghai Co., Ltd. is well-positioned in the aluminum electrolytic capacitor market with a focus on stable growth and expansion into new product lines. The company is actively managing costs and exploring new market opportunities while addressing competitive pressures and market dynamics.

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 2023 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《上市公司股东大会规则》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 2023 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。 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、本次股东大会由贵公司董事会召集。 贵公司第六届董事会第三次会议决定于 2024 年 5 月 9 日召开本次股东大会。 贵公司已于 2024 年 4 月 12 日在《中国证券报》《证券时 ...

证券代码：002484 证券简称：江海股份 公告编号：2024-023 南通江海电容器股份有限公司 2023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； 2、本次股东大会不涉及变更前次股东大会决议的情况； 3、审议公司 2024 年度日常经营关联交易预计议案时关联股东回避； 4、表决所有议案都对中小投资者的表决单独计票。 二、会议召开和出席情况： 1、会议召集人：公司董事会； 2、（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 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：2024年5月9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 ...

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]