关于为子公司提供担保的进展公告 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。 | 证券代码：002600 | 证券简称：领益智造 | 公告编号：2024-162 | | --- | --- | --- | | 债券代码：127107 | 债券简称：领益转债 | | 广东领益智造股份有限公司 一、担保情况概述 广东领益智造股份有限公司（以下简称"公司"）分别于 2024 年 12 月 6 日和 2024 年 12 月 23 日召开第六届董事会第九次会议和 2024 年第五次临时股东大 会，审议通过了《关于公司及子公司 2025 年度担保事项的议案》。为保证公司 及其子公司的正常生产经营活动，2025 年度公司（含控股子公司）拟为公司及子 公司的融资或其他履约义务提供担保，预计担保总额度合计不超过人民币 3,500,000 万元。在上述担保额度内，公司管理层可根据实际经营情况对公司（含 控股子公司）对子公司、子公司对公司之间的担保额度进行调配，亦可对新成立 的子公司分配担保额度。具体内容详见公司于 2024 年 12 月 7 日在巨潮资讯网 （www.cninf ...

| 证券代码：002600 | 证券简称：领益智造 | 公告编号：2024-161 | | --- | --- | --- | | 债券代码：127107 | 债券简称：领益转债 | | 广东领益智造股份有限公司 关于为子公司提供担保的进展公告 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。 一、担保情况概述 广东领益智造股份有限公司（以下简称"公司"）分别于 2024 年 12 月 6 日和 2024 年 12 月 23 日召开第六届董事会第九次会议和 2024 年第五次临时股东大 会，审议通过了《关于公司及子公司 2025 年度担保事项的议案》。为保证公司 及其子公司的正常生产经营活动，2025 年度公司（含控股子公司）拟为公司及子 公司的融资或其他履约义务提供担保，预计担保总额度合计不超过人民币 3,500,000 万元。在上述担保额度内，公司管理层可根据实际经营情况对公司（含 控股子公司）对子公司、子公司对公司之间的担保额度进行调配，亦可对新成立 的子公司分配担保额度。具体内容详见公司于 2024 年 12 月 7 日在巨潮资讯网 （www.cninf ...

| 证券代码：002600 | 证券简称：领益智造 | 公告编号：2024-160 | | --- | --- | --- | | 债券代码：127107 | 债券简称：领益转债 | | 广东领益智造股份有限公司 2024年第五次临时股东大会决议公告 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。 特别提示： 1、本次股东大会以现场投票和网络投票相结合的表决方式召开。 2、本次股东大会未出现否决议案的情形。 3、本次会议没有涉及变更前次股东大会决议的情形。 4、本次股东大会召开期间无新议案提交表决的情况。 一、会议召开和出席情况 2、会议主持人：董事长曾芳勤女士 3、会议召开日期和时间： 现场会议：2024 年 12 月 23 日（星期一）14:30 网络投票：通过深圳证券交易所交易系统进行网络投票的时间为 2024 年 12 月 23 日的交易时间，即 9:15-9:25，9:30-11:30 和 13:00-15:00；通过深圳证券交易所 互联网投票系统进行网络投票的时间为 2024 年 12 月 23 日上午 9:15 至下午 15:00 的任意时间。 ...

2024年第五次临时股东大会的 法律意见书 北京市嘉源律师事务所 关于广东领益智造股份有限公司 2024 年第五次临时股东大会的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 : 师事务 所 YUAN LAW OFFICES 北京 BEIJING ·上海 SHANGHAI ·深圳 SHENZHEN ·香港 HONG KONG ·广州 GUANGZHOU ·西安 XI'AN 致:广东领益智造股份有限公司 北京市嘉源律师事务所 关于广东领益智造股份有限公司 嘉源(2024)-04-926 北京市嘉源律师事务所(以下简称"本所")接受广东领益智造股份有限公 司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称"《公 司法》"）、《上市公司股东大会规则》(以下简称"《股东大会规则》")等 现行有效的法律、行政法规、部门规章、规范性文件(以下简称"法律法规") 以及《广东领益智造股份有限公司章程》(以下简称"《公司章程》")的有关 规定,指派本所律师对公司2024年第五次临时股东大会(以下简称"本次股东大 会"）进行见证,并依法出具本法律意见书。 为出具本法律意见书,本所指派律 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company, with a target price range of 8.29 to 10.78 yuan for 2025 [19][26]. Core Insights - The company is positioned to benefit from the ongoing AI transformation, with expectations of significant growth in hardware demand, particularly in the smartphone sector, driven by new product launches from major clients like Apple [18][29]. - The company has established a comprehensive overseas production capacity, which enhances its ability to secure new projects and meet client demands [39]. - The automotive and photovoltaic sectors are anticipated to open new growth opportunities for the company, with a focus on expanding its market presence and product offerings [17][82]. Summary by Sections Company Overview - The company, originally founded in 2006, has evolved through strategic acquisitions and expansions into various sectors, including consumer electronics, automotive, and photovoltaic products [34][71]. - The revenue structure indicates a strong reliance on consumer electronics, with a significant portion of revenue coming from overseas clients, which accounted for 72% in the first half of 2024 [34][36]. Investment Thesis - The company is actively expanding its product lines in response to the growing demand for AI-enabled devices, including foldable screens and wearables, which are expected to drive revenue growth [3][31]. - The report highlights the company's strong relationships with major clients, which are crucial for maintaining competitive advantages and driving innovation [31][69]. Financial Projections - The projected net profits for 2024 and 2025 are 21.1 billion yuan and 29.7 billion yuan, respectively, with corresponding EPS of 0.30 and 0.42 yuan [19][92]. - The company is expected to see a revenue increase driven by the anticipated growth in the AI hardware market and the expansion of its automotive and photovoltaic businesses [18][82]. Market Opportunities - The global market for foldable smartphones is projected to reach 105.3 billion USD by 2025, with a compound annual growth rate of 117% from 2019 to 2025, presenting a significant opportunity for the company [13]. - The company is also focusing on the electric vehicle market, where it has established itself as a key supplier of structural components for battery systems, with expected revenue growth from new contracts [6][8].

| 证券代码：002600 | 证券简称：领益智造 | 公告编号：2024-159 | | --- | --- | --- | | 债券代码：127107 | 债券简称：领益转债 | | 广东领益智造股份有限公司 关于为子公司提供担保的进展公告 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。 一、担保情况概述 广东领益智造股份有限公司（以下简称"公司"或"领益智造"）分别于 2023 年 12 月 7 日和 2023 年 12 月 25 日召开第五届董事会第三十三次会议和 2023 年第 六次临时股东大会，审议通过了《关于公司及子公司 2024 年度担保事项的议案》。 为保证公司及其子公司的正常生产经营活动，2024 年度公司（含控股子公司）拟 为公司及子公司的融资或其他履约义务提供担保，预计担保总额度合计不超过人 民币 3,500,000 万元。在上述担保额度内，公司可以根据实际经营情况对公司对 子公司、以及子公司之间的担保额度进行调配，亦可对新成立的子公司分配担保 额度。具体内容详见公司于 2023 年 12 月 8 日在巨潮资讯网(www.cninfo. ...

Investment Rating - The report assigns a "Buy" rating for Lingyi Technology (002600) with a first coverage [8]. Core Views - The company is positioned as a leading supplier in the AI terminal hardware sector, providing a comprehensive range of manufacturing services and solutions for AI terminal devices and communication equipment [10]. - The company is actively developing advanced materials, such as carbon fiber, for high-end foldable smartphones, enhancing product durability and performance [10]. - The company is expanding its presence in the humanoid robot market through collaborations and has developed various industrial robots and control systems [10]. - The communication segment is focusing on new technologies and components for 5G base stations, while also entering the electric vehicle market with components for battery structures and wireless charging [10]. Financial Summary - The company expects to achieve a net profit attributable to shareholders of 2.24 billion, 3.01 billion, and 4.01 billion yuan for the years 2024, 2025, and 2026 respectively [12]. - Revenue projections for the years 2024, 2025, and 2026 are 41.02 billion, 50.01 billion, and 60.02 billion yuan, reflecting growth rates of 20.20%, 21.93%, and 20.01% respectively [13]. - The company's earnings per share (EPS) are projected to be 0.32, 0.43, and 0.57 yuan for the years 2024, 2025, and 2026 [13]. - The price-to-earnings (P/E) ratio is expected to decrease from 30.04 in 2023 to 15.36 by 2026, indicating improved valuation over time [13].

| 证券代码：002600 | 证券简称：领益智造 | 公告编号：2024-158 | | --- | --- | --- | | 债券代码：127107 | 债券简称：领益转债 | | 广东领益智造股份有限公司 关于为子公司提供担保的进展公告 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。 一、担保情况概述 广东领益智造股份有限公司（以下简称"公司"）分别于 2023 年 12 月 7 日和 2023 年 12 月 25 日召开第五届董事会第三十三次会议和 2023 年第六次临时股东 大会，审议通过了《关于公司及子公司 2024 年度担保事项的议案》。为保证公 司及其子公司的正常生产经营活动，2024 年度公司（含控股子公司）拟为公司及 子公司的融资或其他履约义务提供担保，预计担保总额度合计不超过人民币 3,500,000 万元。在上述担保额度内，公司可以根据实际经营情况对公司对子公 司、以及子公司之间的担保额度进行调配，亦可对新成立的子公司分配担保额度。 具体内容详见公司于 2023 年 12 月 8 日在巨潮资讯网（www.cninfo.com.cn）上 ...

Group 1: Investor Relations Activities - The investor relations activity involved a specific research group with 260 participants visiting the company for on-site communication and exchange [2] - The event took place on December 12, 2024, from 13:00 to 17:00 at the company's location in Dongguan, Guangdong [2] - Key company representatives included the Chairwoman and General Manager, Ms. Zeng Fangqin, and other senior executives [2] Group 2: Company Technology and Competitive Advantages - The company emphasizes its technological advantages in high-efficiency and high-quality development through deep understanding of raw materials and diverse product integration [2] - It has developed various production lines, including die-cutting, stamping, and CNC intelligent workshops, to enhance service capabilities for end brands [2] - The company is committed to lean, data-driven, automated, and green manufacturing practices [2] Group 3: Product Development and Market Applications - The company has developed heat management systems, including heat pipes and cooling modules, for various electronic products such as smartphones and AI-related servers [7] - It provides different materials for VC (Vapor Chamber) heat plates, enhancing cooling efficiency while reducing weight for high-end products [7] - The company collaborates with international consumer electronics brands, maintaining a customer-centric service philosophy [7] Group 4: Recent Mergers and Acquisitions - The company announced plans to acquire 66.46% of Jiangsu Kedasitern Automotive Technology Co., Ltd. through convertible bonds and cash [9] - This acquisition aims to enhance the company's presence in the automotive parts sector, particularly in new energy vehicles [9] - The transaction is expected to create a second growth curve and improve the company's revenue and profitability [11] Group 5: Strategic Synergies and Future Outlook - The acquisition will deepen the company's automotive industry layout and mitigate risks associated with business fluctuations [11] - The company aims to leverage Jiangsu Kedasitern's established customer relationships to expand its market reach [13] - The transaction is anticipated to facilitate overseas expansion and localization strategies in response to global market demands [13]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 12.88 CNY based on a 28x PE valuation for 2025 [2][3]. Core Views - The company plans to acquire a 66.46% stake in Jiangsu Keda through a combination of convertible bonds and cash, aiming to expand its automotive business [1]. - Jiangsu Keda has a diverse customer base, including major automotive manufacturers such as Chery, SAIC, BYD, and Geely, and has established multiple production bases to support its clients [1]. - The acquisition will enhance the company's capabilities in automotive component design, manufacturing, and sales, further strengthening its product and customer matrix in the automotive sector [1]. - The company is positioned to benefit from the growth in AI-driven hardware innovation, particularly in the North American market, where it supplies precision components for major clients [1]. Financial Summary - The company forecasts earnings per share (EPS) of 0.30 CNY, 0.46 CNY, and 0.56 CNY for 2024, 2025, and 2026, respectively [2][7]. - Revenue is projected to grow from 34.12 billion CNY in 2023 to 41.29 billion CNY in 2024, reflecting a 21% increase [2][11]. - Net profit is expected to rise from 2.05 billion CNY in 2023 to 2.08 billion CNY in 2024, with a net profit margin improvement [2][11]. - The company’s gross margin is projected to be 17.7% in 2024, with a net margin of 5.0% [2][11].