| --- | --- | |----------------------------|-------------------------| | 投资评级 : 增持 \n基本数据 | ( 维持 ) \n2024-06-21 | | 收盘价 ( 元 ) | 10.10 | | 流通股本 ( 亿股 ) | 6.27 | | 每股净资产 ( 元 ) | 5.43 | | 总股本 ( 亿股 ) | 7.34 | | 最近 12 月市场表现 | | 相关报告 1. 《扁电磁线领军龙头，受益于电网投 资加速》 2024-06-04 2. 《扁电磁线领军龙头，受益于电网投 资加速》 2024-05-28 成立国际贸易公司，出海规划稳步推进 ❖ 事件：公司控股子公司设立国际贸易公司，并于近日取得营业执照。为顺应 行业发展趋势，进一步满足客户需求、提高公司扁电磁线产品国际竞争力，公 司控股公司无锡统力电工有限公司以自有资金 1000 万元人民币设立全资 子公司无锡统力国际贸易有限公司，并于近日取得营业执照。 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market index [6][11]. Core Viewpoints - The company is focused on consolidating and enhancing its global leadership position in flat electromagnetic wire, while also actively expanding into superconducting and other forward-looking businesses. The strong demand from downstream sectors and the company's capacity expansion are expected to drive rapid growth in its electromagnetic wire business [6]. - The company achieved overseas sales of 413 million RMB in 2023, representing a year-on-year increase of 25.68%, primarily through direct exports of flat electromagnetic wire to various international markets [2][6]. Summary by Relevant Sections Company Strategy - The company has established a wholly-owned subsidiary, Wuxi Tongli International Trade Co., Ltd., with an investment of 10 million RMB to enhance the competitiveness of its flat electromagnetic wire products [4][10]. Financial Projections - The company forecasts net profits for 2024, 2025, and 2026 to be 619 million RMB, 731 million RMB, and 860 million RMB respectively, with year-on-year growth rates of 18.38%, 18.08%, and 17.66% [6][7]. - Revenue projections for the same period are 17.52 billion RMB in 2024, 19.80 billion RMB in 2025, and 22.28 billion RMB in 2026, with growth rates of 14.58%, 13.01%, and 12.52% respectively [7]. Capacity Expansion - By the end of 2023, the company's electromagnetic wire production capacity reached 95,000 tons per year. The company is also expanding its production capacity for transformer wires and specialized flat electromagnetic wires for electric vehicles [10].

Investment Rating - The investment rating for the company is "Accumulate" [5] Core Viewpoints - The company is expanding its flat electromagnetic wire production capacity to meet the growing demand from domestic transformer and new energy vehicle sectors, with a total production capacity of 95,000 tons by the end of 2023 [1] - The company achieved overseas sales of 413 million yuan in 2023, a year-on-year increase of 25.68%, primarily through direct exports of flat electromagnetic wire [2] - The establishment of a wholly-owned subsidiary aims to enhance the competitiveness of flat electromagnetic wire products in the international market [4] - The company is expected to see rapid growth in its electromagnetic wire business due to strong downstream demand and capacity expansion, with projected net profits of 619 million yuan, 731 million yuan, and 860 million yuan for 2024-2026, representing growth rates of 18.38%, 18.08%, and 17.66% respectively [18] Summary by Sections Production Capacity Expansion - The company has initiated a capacity expansion project for transformer wire products, adding 10,000 tons per year, which has already commenced production [1] - Additional capacity of approximately 5,000 tons per year will be released throughout the year from ongoing technical upgrades at the Wuxi and Xiangtan bases [1] - The company is progressing with a comprehensive capacity expansion project in the new energy vehicle motor sector, aiming for a total capacity of 50,000 tons by the second half of 2025 [1] Overseas Market Development - The company is actively exploring opportunities in the overseas power market, with a focus on Europe, South America, Southeast Asia, and Japan [2] - A market assessment was conducted in May to understand local economic conditions, labor, taxation, and customer needs, which is part of the feasibility study for overseas expansion [2] Financial Projections - The company forecasts revenue growth from 15.83% in 2023 to 12.52% by 2026, with projected revenues of 15.293 billion yuan in 2023 and 22.282 billion yuan in 2026 [19] - The expected earnings per share (EPS) are projected to increase from 0.71 yuan in 2023 to 1.17 yuan in 2026 [19]

1、公司名称：无锡统力国际贸易有限公司 2、统一社会信用代码：91320205MADNG4TQ7R 3、类型：有限责任公司（非自然人投资或控股的法人独资） 4、注册地址：无锡市锡山区东港镇朝阳村勤工路 22 号办公楼 2F 北-3/4 室 5、法定代表人：陈海兵 6、注册资本：1,000 万元人民币 7、成立日期：2024 年 6 月 3 日 8、经营范围：一般项目；货物进出口；技术进出口；进出口代理；电工器 金 杯 电 工 股 份 有 限 公 司 Gold cup Electric Apparatus Co.,Ltd. 证券代码：002533 证券简称：金杯电工 公告编号：2024-035 金杯电工股份有限公司 关于控股公司成立全资子公司并取得营业执照的公告 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。 在当前全球能源结构转型及电力设备更新升级等因素叠加推动下，国内外变 压器需求旺盛，从而也带动变压器关键配套材料扁电磁线产品需求的快速增长。 金杯电工股份有限公司（以下简称"公司"）深耕变压器用扁电磁线行业几十年， 在满足国内需求的同时，已实现海外直接出口。 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][3]. Core Views - The company is a leading player in the flat electromagnetic wire sector, benefiting from accelerated investment in the electric power sector. It has maintained a strong market position in the central and southwestern regions of China, achieving a sales revenue of over 10 billion yuan in 2023, with a year-on-year growth of 17% [2][19]. - The company has a stable shareholding structure, with significant support from multiple subsidiaries, ensuring operational efficiency [11][29]. - The company is expected to achieve revenues of 17.51 billion yuan, 19.88 billion yuan, and 22.62 billion yuan from 2024 to 2026, with net profits of 590 million yuan, 694 million yuan, and 790 million yuan respectively, corresponding to PE ratios of 12.07, 10.26, and 9.01 [3][19]. Summary by Sections Company Overview - The company is a veteran in the wire and cable industry, having established a comprehensive layout through mergers and acquisitions. It has been a leader in the industry for over 70 years and has developed a strong brand presence [11][28]. Financial Situation - The company reported a total revenue of 15.29 billion yuan in 2023, with a year-on-year increase of 15.83%. The net profit attributable to shareholders reached 523 million yuan, reflecting a growth of 41.12% [31][19]. Research and Development - The company has a leading position in R&D investment within the industry, with a total R&D expenditure of 498 million yuan in 2023, representing a 3% R&D expense ratio. The number of R&D personnel reached 852, indicating a strong commitment to innovation [16][60]. Dividends - The company has a high dividend payout strategy, with a total dividend of 300 million yuan in 2023, marking a 16.73% increase year-on-year. The dividend rate reached 50.68%, with a dividend yield of 4.95% [19][64]. Industry Analysis - The electric wire and cable industry has a broad market space, with significant growth potential driven by increasing demand in the power sector. The market concentration is low, with a CR5 of 8.5%, indicating opportunities for consolidation and growth [2][73]. Competitive Advantages - The company has established a strong brand presence and competitive advantages through differentiated products and capacity expansion. It has successfully penetrated both domestic and international markets, enhancing its market position [19][20].

金 杯 电 工 股 份 有 限 公 司 Gold cup Electric Apparatus Co.,Ltd. 证券代码：002533 证券简称：金杯电工 公告编号：2024-034 金杯电工股份有限公司 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。 金杯电工股份有限公司（以下简称"公司"）于2023年11月8日召开第六届 董事会第二十六次会议，审议通过了《关于回购公司股份方案的议案》，同意公 司使用自有资金以集中竞价交易方式回购公司发行的A股社会公众股份，回购的 股份将全部用于员工持股计划或者股权激励。回购资金总额不低于人民币4,000 万元（含），不超过人民币8,000万元（含），回购价格不超过11.3元/股（含）， 具体回购股份的数量、金额以回购期满时实际回购的股份数量、金额为准。回购 期限为自公司董事会审议通过本次回购方案之日起12个月内。具体内容详见公司 分别于2023年11月9日和2023年11月14日披露的《关于回购公司股份方案的公告》 （公告编号：2023-046）和《回购报告书》（公告编号：2023-048）。 ...

金杯电工(002533) / 电网设备 / 公司深度研究报告 / 2024.05.27 扁电磁线领军龙头，受益于电网投资加速 投资评级:增持(首次) 核心观点 证券研究报告 | --- | --- | |------------------------|------------| | 基本数据 | 2024-05-27 | | 收盘价 ( 元 ) | 9.84 | | 流通股本 ( 亿股 ) | 6.27 | | 每股净资产 ( 元 ) | 5.43 | | 总股本 ( 亿股 ) | 7.34 | | 最近 12 月市场表现 | | -24% -11% 2% 14% 27% 40% 金杯电工 沪深300 上证指数 电网设备 分析师 张一弛 SAC 证书编号：S0160522110002 zhangyc02@ctsec.com 相关报告 ❖ 扁电磁线龙头企业，2023 年分红金额创新高：公司为扁电磁线全球龙头， 2023 年公司电磁线销量超 7 万吨，同比+23%，其中特高压换位导线市占率 连续三年居国内外行业首位，新能源汽车产品年销量同比+180%。公司贯彻 高分红策略，2023 年公司每 10 股派息 4 ...

截至2024年4月30日，公司通过股份回购专用证券账户以集中竞价方式累计 回购公司股份6,447,000股，占公司总股本的0.8784%，其中，最高成交价为8.30 元/股，最低成交价为6.79元/股，成交金额50,082,382.30元（不含交易费用）。本 次回购股份符合公司既定的回购股份方案及相关法律法规的要求。 二、其他说明 金 杯 电 工 股 份 有 限 公 司 Gold cup Electric Apparatus Co.,Ltd. 证券代码：002533 证券简称：金杯电工 公告编号：2024-032 金杯电工股份有限公司 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。 金杯电工股份有限公司（以下简称"公司"）于2023年11月8日召开第六届 董事会第二十六次会议，审议通过了《关于回购公司股份方案的议案》，同意公 司使用自有资金以集中竞价交易方式回购公司发行的A股社会公众股份，回购的 股份将全部用于员工持股计划或者股权激励。回购资金总额不低于人民币4,000 万元（含），不超过人民币8,000万元（含），回购价格不超过1 ...

各位我们会议开始欢迎各位参加这个你们建国2024年基督信仰的业绩说明会我是 公司总秘黄岳宇我们线上又见面了出席本次说明会的是还有我们财务总监钟总财务管理部的副总监伍兆屯伍总真净投资部副总监罗明连罗总金门电工2024年1月8号昨天已经批了这些数据 在他在他汇报之前我想多啰嗦几句啊一季度的业绩呢今天的二级市场表现呢我想可能没达到大家的预期 但从金本建功自身来说取得这个增长确实实属不易至少我们觉得达到了公司的一个业绩预期大家都知道去年今年一季度受这个地产政统端的这个下滑然后同价的上涨等因素的影响 行业内转 竞争也加剧其实所有的我们了解到的现代行业现代企业同行都拿出了十八般的武艺在血拼 去 血拼 去 呃 抢占市场金贝勒的协定功能也是及时的调整了营销的策略和战术打法真 真上血铁 他有了今天的这个成果我觉得我们金梅电工全体的员工都还是用心都付出了至少我觉得作为金梅电工的这个金梅电工人还是比较自豪的这个业绩去年一年包括到今年包括后面公司一直也在做这个持续的做这个企业文化的筑坟 战略梳理和共识以及流程的变革和再造等这种强积建体普遍内容的工作虽然这些工作看上去是一些虚的远信的甚至产生不了直接的效益的一些这些存在但是由于这些 软 ...

金杯电工股份有限公司 2024 年第一季度报告 证券代码：002533 证券简称：金杯电工 公告编号：2024-031 金杯电工股份有限公司 2024 年第一季度报告 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 3.第一季度报告是否经审计 □是 否 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减（%） | | --- | --- | --- | --- | | 营业收入（元） | 3,521,897,664.14 | 2,959,331,924.98 | 19.01% | | 归属于上市公司股东的净利润（元） | 133,951,868.57 | 114,898,262. ...