Financial Performance - The company's operating revenue for the first half of 2024 was ¥511,104,768.77, a decrease of 10.24% compared to ¥569,409,165.49 in the same period last year[11]. - Net profit attributable to shareholders was ¥135,883,387.62, representing an increase of 32.29% from ¥102,718,806.79 year-on-year[11]. - The basic earnings per share increased to ¥0.1206, up 32.24% from ¥0.0912 in the previous year[11]. - The total assets at the end of the reporting period were ¥4,201,140,372.89, a decrease of 5.86% from ¥4,462,643,825.55 at the end of the previous year[11]. - The net assets attributable to shareholders increased to ¥3,198,704,121.85, a rise of 0.75% from ¥3,174,899,635.69 at the end of the previous year[11]. - The company reported a net cash flow from operating activities of -¥99,436,658.83, compared to -¥59,485,200.90 in the same period last year[11]. - The company achieved a total operating revenue of CNY 51,110.48 million in the first half of 2024, a decrease of 10.24% year-on-year[18]. - The net profit attributable to shareholders increased by 32.94% year-on-year, reaching CNY 13,588.34 million[18]. - The company's total operating revenue was 511,104,768.77 yuan, a decrease of 10.24% compared to the previous year[22]. - The company reported a net cash flow from operating activities of -99,436,658.83 yuan, worsening from -59,485,200.90 yuan in the previous year[22]. - The total comprehensive income for the first half of 2024 was approximately ¥135.42 million, compared to ¥101.86 million in the same period of 2023, marking a significant increase[89]. Research and Development - Research and development expenses increased by 10.27% to 81,727,085.89 yuan[22]. - The company has established multiple R&D centers in various cities, focusing on long-term research in intelligent electromechanical control systems and new energy storage[15]. - The company is focusing on the development of intelligent special equipment and intelligent terminals, with significant applications in military vehicles and communication systems[16]. - The company plans to enhance its research and development capabilities to improve product competitiveness and address risks related to raw material price fluctuations[39]. Market and Industry Trends - The domestic newly installed capacity of new energy storage projects reached 5.40 GW/11.77 GWh in June 2024, marking a year-on-year increase of 21%/25%[18]. - The global digital set-top box industry is evolving towards intelligence and multifunctionality, with increasing market demand for integrated products[16]. - The microgrid industry is expected to accelerate due to internal demand, driven by the national carbon neutrality goals[18]. - The military equipment industry is projected to see sustained demand growth, supported by stable military spending and modernization efforts[16]. - The company is actively involved in the new energy sector, particularly in lightweight precision structural components and energy storage systems[17]. Financial Position and Assets - The total assets of the company reached 420,114.04 million yuan, with a debt total of 100,036.33 million yuan, resulting in a debt-to-asset ratio of 23.81%[19]. - The company's financial assets totaled CNY 1,345,217,926.25 at the end of the reporting period, with a fair value change gain of CNY 1,804,765.15[29]. - The company has CNY 33,475,159.83 in restricted assets as of June 30, 2024, primarily due to bank acceptance bills and letter of credit deposits[30]. - The total number of authorized patents held by the company reached 289, including 45 invention patents[21]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[2]. - The annual shareholders' meeting had a participation rate of 23.56% on April 12, 2024[41]. - The company has published 21 announcements during the reporting period, covering regular reports, resolutions from meetings, related transactions, and significant events, ensuring transparency and protecting minority shareholders' rights[45]. - The company has established a robust investor relations framework, utilizing multiple channels to communicate with investors and provide updates on business operations and strategies[45]. Compliance and Social Responsibility - The company has maintained a strict compliance with environmental regulations, ensuring that all pollutants are treated according to national laws, with wastewater treated and discharged into municipal sewage systems[43]. - The company emphasizes employee rights and safety, providing timely salary payments and investing in protective equipment and training[45]. - The company actively engages in social responsibility initiatives, participating in various charitable donations during the reporting period[47]. - The company adheres to ISO9001 and ISO45001 standards in its operations, focusing on quality management and environmental protection[47]. Legal and Risk Management - The company has successfully recovered a total of 92.29 million yuan from a legal dispute, which included interest, following a favorable court ruling[49]. - The company is involved in a lawsuit with a claimed amount of 16 million RMB, which is currently ongoing and has not formed any expected liabilities[50]. - The company faces market competition risks in the special equipment industry due to lower entry barriers and potential price declines[38]. - The company has not reported any non-operational fund occupation by major shareholders or related parties during the reporting period[48]. Financial Instruments and Accounting Policies - The company's financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance of China, ensuring compliance and transparency[109]. - The financial statements reflect the company's financial position, operating results, changes in owners' equity, and cash flows accurately[112]. - The company recognizes assets and liabilities based on the fair value of identifiable net assets acquired in business combinations[116]. - The company assesses expected credit losses for financial instruments based on credit risk characteristics, categorizing them into several groups for receivables and contract assets[129]. Accounts Receivable and Bad Debt Provisions - The total accounts receivable at the end of the period amounted to ¥677,326,237.31, an increase from ¥609,907,729.68 at the beginning of the period[179]. - The provision for bad debts for accounts receivable was 21.34% of the total accounts receivable, with a total provision of ¥143,657,249.21[180]. - The total bad debt provision for accounts receivable was ¥115,787,936.96, reflecting a high level of caution in financial reporting[182]. - The company has maintained a consistent approach to provisioning, utilizing the expected credit loss model for assessment[198].

江苏银河电子股份有限公司 证券代码：002519 证券简称：银河电子 公告编号：2024-023 第八届董事会第十四次会议决议公告 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。 江苏银河电子股份有限公司（以下或简称"公司"）第八届董事会第十四次 会议通知于 2024 年 7 月 29 日以电话、电子邮件的方式发出，并于 2024 年 8 月 8 日以现场会议的方式召开。本次会议应出席董事 5 名，实际出席会议董事 5 名。 本次会议的召集与召开程序、出席会议人员资格及议事和表决程序符合《公司法》 及《公司章程》的有关规定。经与会董事认真审议，并以投票表决的方式形成如 下决议： 一、审议通过了《关于 2024 年半年度报告全文及摘要的议案》。 表决结果：同意 5 票，反对 0 票，弃权 0 票。 《2024 年半年度报告全文》详见巨潮资讯网（www.cninfo.com.cn），《2024 年半年度报告摘要》详见公司指定信息披露媒体《证券时报》、《上海证券报》以 及巨潮资讯网（www.cninfo.com.cn）。 二、审议通过了《关于增加 2024 年度日常 ...

证券代码：002519 证券简称：银河电子 公告编号：2024-025 关于增加 2024 年度日常关联交易预计额度的公告 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。 为了业务经营需要，拟增加公司及下属子公司与苏州阔普特智能电力科技有 限公司（以下简称"苏州阔普特"）2024 年度日常关联交易预计金额 200 万元 人民币，具体情况如下： 一、预计发生日常关联交易情况如下： 单位：万元 | | | | | 新增后 | 截至2024年6 | | | --- | --- | --- | --- | --- | --- | --- | | 关联交易类 | 关联人 | 关联交易内 | 关联交易定 | 预计金额 | 月 30 日已发 | | | 别 | | 容 | 价原则 | （含税） | 生金额（含 | | | | | | | | | 税） | | 向关联人采 购产品、商品 | 苏州阔普特 智能电力科 | 公司及下属 子公司向阔 普特采购商 | 市场价格 | 200 | | 0 | | | 技有限公司 | | | | | | | | | 品 | | | | | | ...

江苏银河电子股份有限公司 证券代码：002519 证券简称：银河电子 公告编号：2024-024 江苏银河电子股份有限公司（以下简称"公司"）第八届监事会第十四次会 议于2024年7月29日以电话、电子邮件的形式送达，并于2024年8月8日在公司三楼 会议室以现场与通讯相结合的方式召开。本次会议应到监事3名，实到监事3名， 其中监事李春燕以通讯方式出席。会议由顾革新先生主持。本次会议的召集与召 开程序、出席会议人员资格及议事和表决程序符合《公司法》及《公司章程》的 有关规定。经与会监事认真审议，并以现场表决的方式，形成如下决议： 一、审议并通过了《关于 2024 年半年度报告全文及摘要的议案》。 公司监事会根据《证券法》第 82 条的规定，对董事会编制的 2024 年半年度 报告进行了严格的审核，并提出如下的书面审核意见： 经审核，监事会认为董事会编制和审核江苏银河电子股份有限公司 2024 年半 年度报告的程序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、 完整地反映了公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 三、审议通过了《关于修订<监事会议事规则>的议案》，该议案尚需提交 ...

江苏银河电子股份有限公司 第八届董事会独立董事专门会议 江苏银河电子股份有限公司 江苏银河电子股份有限公司 独立董事：张拥军、郭静娟 2024 年 5 月 28 日 江苏银河电子股份有限公司（以下简称"公司"）第八届董事会独立董事专 门会议第二次会议于 2024 年 5 月 28 日召开，本次会议已于 2024 年 5 月 24 日以 电子邮件的方式通知全体独立董事。全体独立董事共同推举公司独立董事郭静娟 先生担任本次会议的召集人并主持本次会议，会议应出席独立董事 2 人，实际出 席独立董事 2 人。本次会议的召开和表决程序符合《上市公司独立董事管理办法》 和《独立董事工作制度》等规定。 经各位独立董事审议，会议形成如下决议: 会议以 2 票同意、0 票反对、0 票弃权，审议通过了《关于收购合肥智行通 智能科技有限公司无人化全部资产暨关联交易的议案》，经核查，我们认为： 经核查，并对照《上市公司独立董事规则》、《深圳证券交易所上市公司自律 监管指引第 1 号——主板上市公司规范运作》及《公司章程》等有关规定，我们 认为：公司全资孙公司安徽骁骏智能装备有限公司收购合肥智行通智能科技有限 公司无人化全部资产，本次 ...

证券代码：002519 证券简称：银河电子 公告编号：2024-021 江苏银河电子股份有限公司 关于收购合肥智行通智能科技有限公司无人化全部资产暨关联交易 的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 江苏银河电子股份有限公司（以下简称"公司"）于 2024 年 5 月 28 日召开 第八届董事会第十三次会议、第八届监事会第十三次会议，会议审议通过了《关 于收购合肥智行通智能科技有限公司无人化全部资产暨关联交易的议案》。随着 近几年无人化技术和应用的快速发展，无人化正逐步成为现代化作战体系中的核 心组成部分，为支持公司更好的发展无人化产业，进一步拓展公司无人化产业链， 公司全资孙公司安徽骁骏智能装备有限公司（以下简称"骁骏智能"）收购合肥 智行通智能科技有限公司（以下简称"合肥智行通"）无人化全部资产。合肥智 行通是一家成立于 2020 年 3 月无人驾驶技术领域的高技术创新型科技企业，一 直专注于智能移动机器人、无人驾驶、军用靶车等技术领域的研究，致力于推动 无人驾驶技术的实际应用及产业化发展。合肥红宝石创投股份有限公司（以下简 称"红宝石创投" ...

证券代码：002519 证券简称：银河电子 公告编号：2024-019 江苏银河电子股份有限公司 第八届董事会第十三次会议决议公告 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。 江苏银河电子股份有限公司（以下简称"公司"）第八届董事会第十三次会 议通知于 2024 年 5 月 24 日以电子邮件或电话的形式送达，并于 2024 年 5 月 28 日以通讯会议的方式召开。本次会议应出席董事 5 名，实际出席会议董事 5 名。 本次会议的召集与召开程序、出席会议人员资格及议事和表决程序符合《公司法》 及《公司章程》的有关规定。经与会董事认真审议，并以投票表决的方式形成如 下决议： 一、会议以 5 票同意、0 票反对、0 票弃权的表决结果审议通过了《关于收 购合肥智行通智能科技有限公司无人化全部资产暨关联交易的议案》。 同意公司全资孙公司安徽骁骏智能装备有限公司以 1000 万元交易对价收购 合肥智行通智能科技有限公司无人化全部资产。 本议案已经公司第八届董事会独立董事专门会议审议通过。 具体内 容详 见刊 登 于《证 券时 报》、《 上海证 券报 》及 巨 潮资 ...

证券代码：002519 证券简称：银河电子 公告编号：2024-020 江苏银河电子股份有限公司 经审议，监事会认为：基于公司战略发展需要，监事会同意公司全资孙公司 安徽骁骏智能装备有限公司以 1000 万元交易对价收购合肥智行通智能科技有限公 司无人化全部资产。 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票。 特此公告。 江苏银河电子股份有限公司监事会 第八届监事会第十三次会议决议公告 本公司及监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。 江苏银河电子股份有限公司（以下简称"公司"）第八届监事会第十三次会议 通知于 2024 年 5 月 24 日以电话、电子邮件的形式送达，并于 2024 年 5 月 28 日 以通讯会议的方式召开。本次会议应出席监事 3 名，实际出席会议监事 3 名。会 议由顾革新先生主持。本次会议的召集与召开程序、出席会议人员资格及议事和 表决程序符合《公司法》及《公司章程》的有关规定。经与会监事认真审议，并 以投票表决的方式，形成如下决议： 审议通过了《关于收购合肥智行通智能科技有限公司无人化全部资产暨关联 交易的议案》。 202 ...

江苏银河电子股份有限公司 江苏银河电子股份有限公司 董事、监事和高级管理人员持有和变动本公司股票管理制度 董事、监事和高级管理人员持有和变动本公司股票管理制度 第一章 总则 第一条 为加强公司对董事、监事和高级管理人员持有及变动本公司股票的 管理工作，根据《公司法》、《证券法》、《上市公司董事、监事和高级管理人 员所持本公司股份及其变动管理规则》、 《上市公司董事、监事和高级管理人员 所持本公司股份及其变动管理规则（证监会公告[2024]9 号）》、《上市公司股 东减持股份管理暂行办法（证监会令[第 224 号]）》、《深圳证券交易所上市 公司自律监管指引第 18 号——股东及董事、监事、高级管理人员减持股份》 、 《深圳证券交易所上市公司自律监管指引第 10 号——股份变动管理》等法律、 法规及规范性文件，并结合公司实际情况，制定本制度。 第二条 本制度适用于公司董事、监事和高级管理人员及本制度第二十条规 定的自然人、法人或其他组织持有及买卖本公司股票的管理；从事融资融券交易 的，还包括记载在其信用账户内的本公司股票。 第三条 公司及董事、监事和高级管理人员在买卖公司股票及其衍生品种前， 应知悉《公司法》、 ...

Investment Rating - Buy (Maintained) [5][7] Core Views - The company's net profit attributable to the parent company increased by 49 70% YoY in Q1 2024, with short-term revenue pressure due to the transition period of its traditional set-top box business [22] - The company's cost control measures, non-recurring gains, and reduced credit impairment losses contributed to the significant growth in net profit [22] - The company is expected to benefit from the downstream demand growth in the defense informationization and satellite internet industries, with projected net profits of 269/306/352 million yuan for 2024-2026 [7] Financial Performance - Q1 2024 revenue was 284 million yuan, down 9 97% YoY, while net profit attributable to the parent company was 94 million yuan, up 49 70% YoY [22] - Inventory increased by 61 47% YoY to 943 million yuan, and contract liabilities surged by 910 56% YoY to 553 million yuan, reflecting increased orders and potential revenue growth [1] - Sales expenses decreased by 41 78% YoY, management expenses by 4 40%, and financial expenses by 686 45%, indicating improved cost control [1] Industry and Market Position - The company is deeply involved in the satellite internet industry, with a strategic investment in Gesi Aerospace, aiming to explore opportunities in satellite user terminal and related ground equipment businesses [16] - The defense informationization sector is accelerating, and the demand for intelligent electromechanical systems is expected to grow, benefiting the company's leading position in the industry [7] Financial Forecasts - Revenue is projected to grow by 30 91% in 2024, 17 71% in 2025, and 14 83% in 2026, reaching 1,477/1,739/1,997 million yuan respectively [6] - Net profit attributable to the parent company is expected to grow by 43 74% in 2024, 13 75% in 2025, and 15 15% in 2026, reaching 269/306/352 million yuan respectively [6] - EPS is forecasted to be 0 24/0 27/0 31 yuan for 2024-2026, with P/E ratios of 20/18/15 times [7] Valuation Metrics - The company's P/E ratio is 19 96x for 2024, 17 55x for 2025, and 15 24x for 2026, based on the latest diluted EPS [6] - The P/B ratio is 1 56x for 2024, 1 43x for 2025, and 1 31x for 2026 [19] - ROE is expected to be 7 80% in 2024, 8 15% in 2025, and 8 58% in 2026 [19]