关于委托贷款到期收回的公告 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、误导性陈述或者重大遗漏。 一、委托贷款基本情况 2023年11月3日，山东豪迈机械科技股份有限公司（以下简称"公司"）第六届董事会第四 次会议和第六届监事会第四次会议分别审议并通过《关于对外提供委托贷款的议案》，公司利 用暂时闲置的自有资金，通过委托银行向高密市高兴水利建设工程有限公司提供不超过2.00亿 元人民币的委托贷款，到期日为2024年10月22日，贷款年利率为8.30%，利息按月结算。详情 请见2023年11月4日刊登于《中国证券报》《证券日报》《上海证券报》《证券时报》及巨潮资 讯网（www.cninfo.com.cn）的《关于对外提供委托贷款的公告》（公告编号：2023-051）。 二、委托贷款收回情况 近日，公司已收到高密市高兴水利建设工程有限公司提前归还的委托贷款本金2.00亿元人 民币，相应利息同时结清，上述委托贷款事项完结。 至此，公司对外提供委托贷款的余额为2.50亿元，占公司最近一期（2023年）经审计净资 产的比例约为2.90%，公司对外提供委托贷款不存在逾期未收回的情形。 山东豪 ...

Investment Rating - The report upgrades the investment rating of the company to "Buy" with a target price of 58.30 CNY over the next six months [1]. Core Views - The company is a global leader in tire molds, with a market share of 33% in 2023, and is expected to further increase its market share due to the transformation and upgrading of tire manufacturers and continuous enhancement of overseas production capacity [2][9]. - The second growth curve from large components is being realized, with revenue growing from 1.33 billion CNY in 2019 to 2.77 billion CNY in 2023, representing a CAGR of 20% [2]. - The CNC machine tool segment is entering a harvest period after 30 years of development, focusing on the high-end five-axis market, with a CAGR of 87% in revenue from 2021 to 2023 [2][9]. Summary by Sections 1. Recent Developments - The company focuses on the tire equipment sector and is steadily advancing its international layout [9]. - Revenue continues to expand, with significant improvements in profitability [14]. - The ownership structure is clear and stable, with an effective employee stock ownership plan [20]. 2. Global Leadership in Tire Molds - The tire industry shows stable replacement market demand, with Chinese tire manufacturers accelerating their international expansion [23]. - The global tire mold market exceeded 11.36 billion CNY in 2023 and is expected to grow to 15.62 billion CNY by 2030, with a CAGR of 4.4% [2][29]. 3. CNC Machine Tools - The five-axis CNC market is experiencing steady growth, with significant potential for domestic substitution [2][9]. - The CNC machine tool business has seen rapid revenue growth, with a CAGR of 87% from 2021 to 2023 [2][9]. 4. Downstream Demand and Large Components - The gas turbine market in China reached 76.84 billion CNY in 2023, growing by 24.6% year-on-year, indicating strong demand [2][9]. - The wind power sector is also seeing increased demand, with global installations reaching 1.02 billion kW in 2023 [2][9]. 5. Profit Forecast and Valuation - The company is expected to achieve net profits of 1.86 billion CNY, 2.12 billion CNY, and 2.38 billion CNY from 2024 to 2026, with corresponding EPS of 2.33 CNY, 2.65 CNY, and 2.97 CNY [3][14]. - The future three-year net profit growth rate is projected at 14%, with a target PE of 22 times for 2025 [2][3].

Investment Rating - The report initiates coverage on the company with a "Buy" rating, indicating an expected investment return that exceeds the market benchmark by 5% to 15% over the next 6 to 12 months [9]. Core Insights - The company, Haomai Technology, is a global leader in the tire mold industry, with a history dating back to 1995. It has consistently innovated and expanded its product offerings, including tire molds, large component products, and machine tools [5][6]. - The company's revenue has shown a consistent growth trajectory, with a compound annual growth rate (CAGR) of 23.4% from 2012 to 2023, increasing from 710 million yuan to 7.17 billion yuan. Net profit has also grown at a CAGR of 21.0% during the same period [6][9]. - The tire mold segment remains the largest revenue contributor, accounting for 52.9% of total revenue in 2023, while the large component products segment has seen rapid growth, with a CAGR of 38.2% from 2014 to 2023 [7][9]. - The machine tool business has experienced explosive growth since its external sales began in 2022, with revenue increasing by 111.8% in 2023 [7][30]. Financial Forecast - The company is projected to achieve revenues of 8.16 billion yuan, 9.05 billion yuan, and 9.97 billion yuan for the years 2024, 2025, and 2026, respectively, representing year-on-year growth rates of 13.9%, 10.9%, and 10.1% [9][30]. - The forecasted net profit for the same years is expected to be 1.84 billion yuan, 2.07 billion yuan, and 2.31 billion yuan, with growth rates of 14.2%, 12.4%, and 11.7% [9][30]. - The company's price-to-earnings (P/E) ratios are projected to be 21.9, 19.5, and 17.5 for the years 2024, 2025, and 2026, respectively [9][30].

Group 1: Tire Mold Business - The tire mold business experienced rapid growth in the first half of 2024, with a forecasted increase in orders for the second half, although this trend may not be sustainable long-term depending on market demand [2] - The company has a systematic pricing mechanism for tire molds, considering various factors such as specifications, complexity, and order cycles, with profit margins varying by product type [2] - The market share of the tire mold business exceeds 30%, with a higher share in the domestic market compared to the international market [6] Group 2: Gas Turbine Market - The global gas turbine market is expected to maintain strong demand until 2030, with the company anticipating full orders for its gas turbine business in 2024 [3] - Major clients in the gas turbine business include GE, Mitsubishi, Siemens, Shanghai Electric, Dongfang Electric, and Harbin Electric [6] Group 3: Machine Tool Business - The machine tool business is in its early development stage, focusing on R&D and product variety, with low profit margins currently [3] - The company aims to enhance its brand image and product performance rather than prioritize profit margins at this stage [3] - The machine tool products include multi-axis machining centers, with a focus on five-axis machines, and the company offers customized services [5] Group 4: International Expansion - The company has established subsidiaries in various countries, including the USA, Thailand, Hungary, India, Brazil, Vietnam, Mexico, and Cambodia, to enhance its global production service system [3] - This international presence allows for more convenient and faster services to clients while improving risk management capabilities [3] Group 5: Financial Performance and Shareholder Returns - The company plans to increase its dividend payout to nearly 500 million RMB in 2023 and has proposed a mid-term dividend plan for 2024 [6] - The company is committed to optimizing investor return mechanisms based on operational performance and shareholder demands [6] Group 6: Innovation and Employee Engagement - The company promotes a culture of innovation, encouraging all employees to contribute to improvements in various aspects of the business [5] - Two employee stock ownership plans have been implemented, with participation from over 2,600 individuals in 2022 and around 1,900 in 2023 [5]

证券代码：002595 证券简称：豪迈科技 公告编号：2024-029 山东豪迈机械科技股份有限公司 2024年半年度权益分派实施公告 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、误导性陈述或者重大遗漏。 特别提示： 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《深圳证券交易所上市公司自 律监管指引第 9 号—回购股份》（以下简称"《监管指引第 9 号》"）等相关规定，山东豪迈机 械科技股份有限公司（以下简称"公司"）通过回购专用证券账户（以下简称"回购专户"）持有 的公司股份不享有参与本次权益分派的权利，公司以现有总股本 800,000,000 股扣除公司回购 专用证券账户持有的公司股份 1,441,200 股后的股本，即 798,558,800 股为基数，向全体股东每 10 股派发现金红利 3.75 元（含税），现金分红总额为 299,459,550 元，不派送红股，不使用公 积金转增股本。 本次分配方案未以总股本为基数，实施存在差异化安排，按公司总股本（含回购专户已回 购股份）折算的每 10 股现金红利=现金分红总额÷总股本（含回购专户已回购股份） ×10=29 ...

编号：20241010 证券代码：002595 证券简称：豪迈科技 山东豪迈机械科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | |--------------|----------------|----------------------------------|----------------------------------------------------------------------------| | | | 特定对象调研 | □ 分析师会议 | | | □ 媒体采访 | | □ 业绩说明会 | | 投资者关系 | □ 新闻发布会 | | □ 路演活动 | | 活动类别 | □ 现场参观 | | | | | 其他 | （电话会） | | | 参与单位名称 | 1. | 特定对象调研：中信证券 | 刘意 谭力搏 | | 及人员姓名 | 2. | 电话会：宏利基金 | 刘晓晨 张岩 丁申 | | 时间 | 2024 年 10 | 月 9 日 | | | 地点 | | 豪迈科技公司接待室 | | | 上市公司 | 证券事务代表 | 赵倩倩 | | | 接 ...

Investment Rating - The investment rating for the company is "Buy" [1] Core Viewpoints - The company is a leading player in the global tire mold industry, with three main business segments showing diversified growth [1] - The company has established a strong competitive advantage through long-term strategic partnerships and is focusing on expanding its market presence in high-end CNC machine tools [2] - The company has a stable shareholding structure, with significant employee stock ownership plans to incentivize core personnel [21][22] Summary by Sections Company Overview - The company, founded in 1995 and listed in 2011, primarily engages in the production and sales of radial tire molds, large component machinery products, and CNC equipment [1][10] - The company has expanded its global market presence since 2014, establishing subsidiaries in the US, Thailand, and Europe [10] Tire Mold Segment - The global tire mold market is expected to grow from $1.5 billion in 2023 to $1.74 billion by 2030, with a CAGR of 2.1% [29] - The company holds approximately 52% of the global tire mold market share, benefiting from the increasing demand for tires driven by the automotive industry and technological advancements [29][30] - In 2023, the tire mold business generated revenue of 3.79 billion yuan, with a year-on-year growth of 15.76% and a gross margin of 43.06% [44][45] Large Component Products - The large component products primarily serve the gas turbine and wind power industries, with a stable competitive landscape [3][49] - The revenue from large component products was 2.77 billion yuan in 2023, with a gross margin of 23.41% [55] - The gas turbine market is projected to grow to $28.3 billion by 2026, with a CAGR of 4.2% [47] CNC Machine Tools - The CNC machine tool market in China is expected to reach approximately 409 billion yuan in 2023, with significant growth potential in high-end segments [60] - The company has seen rapid growth in its CNC machine tool business, achieving revenue of 3.08 billion yuan in 2023, a year-on-year increase of 111.76% [73] - The company plans to launch new products in 2024, including five-axis machining centers, to further expand its market coverage [71][72] Financial Forecast and Valuation - The company is projected to achieve revenues of 82.8 billion yuan in 2024, 94.9 billion yuan in 2025, and 108.6 billion yuan in 2026, with corresponding net profits of 19.79 billion yuan, 22.83 billion yuan, and 26.34 billion yuan [3][78] - The estimated PE ratios for 2024, 2025, and 2026 are 17.5, 15.2, and 13.2, respectively [3][81] - The company is positioned favorably within its industry, with a clear three-tier layout across tire molds, large components, and CNC machine tools, allowing for sustained market expansion [3][81]

编号：20240927 证券代码：002595 证券简称：豪迈科技 山东豪迈机械科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | |-------------------------|-----------------------------------------|-----------------|----------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | 特定对象调研 | | | 分析师会议 | | | □ 媒体采访 | | | 业绩说明会 | | 投资者关系 | □ 新闻发布会 | | | 路演活动 | | 活动类别 | □ 现场参观 | | | | | | 其他 | （电话会 ...

Investment Rating - The report assigns an "Accumulate" rating to the company [4]. Core Insights - The company is a global leader in tire mold manufacturing, with a stable shareholding structure and a commitment to high dividends, reflecting long-term value [3][18]. - The tire mold market is estimated to exceed 10 billion, with the company holding a market share of approximately 33.97% in 2023, significantly outperforming competitors [4][29]. - The company is expanding its business into large components for wind power and gas turbines, with a focus on the growth of the gas turbine sector [5][32]. - The machine tool business is progressing steadily, with a notable increase in revenue from CNC machine tools [6]. Summary by Sections Company Overview - The company, originally established as Shandong Gaomi Haomai Machinery Co., Ltd. in 1995, has evolved into a global leader in tire molds, with a stable shareholding structure and a commitment to high dividends [14][18]. Industry Background - The tire mold industry has a market size exceeding 10 billion, with the company being a key player. The demand for tire molds is driven by the automotive industry, particularly the growing electric vehicle segment [22][26]. - The industry is characterized by high customer and technical barriers, with the company leveraging advanced manufacturing technologies to maintain its competitive edge [25]. Financial Analysis - The company has demonstrated strong financial performance, with projected revenues of 82.93 billion, 94.45 billion, and 107.36 billion for 2024-2026, respectively [7][9]. - The net profit attributable to the parent company is expected to reach 19.05 billion, 21.83 billion, and 24.87 billion during the same period [7]. Profit Forecast - The report forecasts a steady growth trajectory for the company, with an expected EPS of 2.38, 2.73, and 3.11 for 2024-2026 [7]. Valuation - The company is positioned in the mid-to-high-end market segment of the tire mold industry, with a strong focus on R&D and international expansion [29][31].

Group 1: Tire Mould Business Performance - In the first half of 2024, the tire mould business achieved operating revenue of 2.216 billion yuan, a year-on-year increase of 19.52% [2] - The gross profit margin for the tire mould business was 41.59%, a decrease of 1.21 percentage points year-on-year [2] - Domestic sales showed significant growth, while exports experienced steady growth [1] Group 2: Future Growth Predictions - The tire mould business is expected to maintain some growth in the second half of 2024, but this trend may not be sustainable long-term, depending on market demand [2] - The company anticipates that the gas turbine market will continue to see good demand until 2030, with a full order book for 2024 [2] Group 3: Large Component Machinery Products - In the first half of 2024, large component machinery products generated operating revenue of 1.465 billion yuan, a year-on-year increase of 2.65% [2] - The gross profit margin for large component machinery products was 24.48%, an increase of 4.36 percentage points year-on-year, driven by product structure optimization and reduced raw material costs [2] Group 4: CNC Machine Tool Business - The CNC machine tool business is still in its early development stage, with significant R&D investment and low gross and net profit margins [3] - The company expects to achieve a certain level of profit in 2024 as the scale of the CNC machine tool business grows [3] Group 5: International Production Capacity - The company has established subsidiaries in various countries, including the USA, Thailand, and Mexico, to enhance its global production service system [3] - Currently, overseas production capacity accounts for approximately 10% of the total mould production capacity [3] Group 6: Overall Gross Profit Margin - The overall gross profit margin for the first half of 2024 was 35.22%, an increase of 2.23 percentage points year-on-year, attributed to changes in revenue structure and efficiency improvements [3]