Investment Rating - The investment rating for the company is maintained at "Buy" [1][2]. Core Views - The report indicates that the company's performance has been negatively impacted by industry trends, but an upward inflection point in performance is anticipated [2]. - For the first three quarters of 2024, the company reported revenue of 4.91 billion yuan, a year-on-year decrease of 11.51%, and a net profit attributable to shareholders of 33 million yuan, down 77.22% year-on-year [2]. - The report projects net profits for 2024-2026 to be 108 million yuan, 243 million yuan, and 293 million yuan respectively, reflecting a significant recovery in 2025 and 2026 [2]. Financial Performance Summary - Revenue for 2024 is estimated at 7.226 billion yuan, with a year-on-year decline of 7.4% [3]. - The gross margin for the first three quarters of 2024 was 31.3%, a slight decrease of 0.27 percentage points year-on-year [2]. - The company’s operating cash flow for the first three quarters of 2024 was 11 million yuan, an increase of 108 million yuan year-on-year, with a cash collection ratio of 93.56% [2]. Market Expansion - The company is actively expanding into emerging high-growth regions such as the Middle East and Africa, with overseas revenue accounting for 11.37% of total revenue as of the first half of 2024 [2]. - The overseas market segment, excluding Portugal, saw a cumulative growth of approximately 18% in the third quarter [2]. Valuation Metrics - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.33 yuan, 0.76 yuan, and 0.91 yuan respectively [3]. - The price-to-earnings (P/E) ratios corresponding to the current stock price are 99.6, 44.1, and 36.6 for the years 2024, 2025, and 2026 [2][3].

Investment Rating - The report maintains a "Buy" rating for the company [3][11]. Core Views - The company has experienced a significant decline in revenue and net profit in the first three quarters of 2024, with revenue down 11.51% year-on-year to 4.91 billion yuan and net profit down 77.22% to 32.87 million yuan [1]. - Despite the overall decline, the company’s engineering products have shown growth, particularly in overseas markets, with overall growth exceeding 10% and specific regions like India and the Middle East showing growth rates above 20% and 40% respectively [1]. - The company is focusing on cash flow management and has successfully reduced accounts receivable by 9.9% year-on-year, indicating a strong emphasis on financial health [1]. Financial Performance Summary - Revenue for 2024 is projected to be 6.87 billion yuan, reflecting a year-on-year decline of 11.9% [2]. - The net profit for 2024 is expected to be 72 million yuan, a decrease of 77.6% compared to the previous year [2]. - The company’s gross margin is relatively stable, with a slight decrease to 31.3% in 2024 [6]. - The operating cash flow for 2023 was 499 million yuan, indicating a focus on maintaining positive cash flow despite profitability challenges [7]. Market and Strategic Outlook - The company plans to enhance its presence in both domestic and international markets, particularly focusing on new scenarios such as schools and hospitals, which are less dependent on the real estate market [1]. - The report suggests that the company’s risk resilience and growth potential are expected to improve as it adapts to current market conditions [1].

投资者关系活动记录表 证券代码：002791 证券简称：坚朗五金 编号：2024-012 广东坚朗五金制品股份有限公司 | --- | --- | --- | |---------------------------|---------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | □特定对象调研 | □分析师会议 | | 投资者关系 | □媒体采访 □业绩说明会 | | | 活动类别 | □新闻发布会 □路演活动 | | | | □现场参观 | ☑ 其他（电话会议） | | 参 与 单位名称 及人员姓名 | 20 余位机构投资者参加本次会议。 | 中信证券、工银瑞信、招商基金、云富投资、至濮投资、 ...

招商证券股份有限公司 招商证券股份有限公司（以下简称"招商证券"或"保荐机构"）作为广东坚朗 五金制品股份有限公司（以下简称"坚朗五金"、"公司"或"发行人"）向特定对象 发行股票的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司监管 指引第 2 号——上市公司募集资金管理和使用的监管要求》《深圳证券交易所股 票上市规则》《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》等有关规定，对坚朗五金补充 2024 年度日常关联交易预计事项进行 了审慎核查，具体核查情况如下： 一、日常关联交易基本情况 （一）日常关联交易概述 2023年12月20日，广东坚朗五金制品股份有限公司（以下简称"公司"）召开 第四届董事会第十二次会议和第四届监事会第十二次会议，审议通过《关于2024 年度日常关联交易预计的议案》，预计2024年将与立高食品股份有限公司（以下 简称"立高食品"）及其子公司发生日常关联交易，预计总金额不超过6,000万元。 具体内容详见公司于2023年12月21日在巨潮资讯网（www.cninfo.com.cn）披露的 《关于2024年度日常关联交易预计的公告》（公告编号：202 ...

Investment Rating - The investment rating for the company is "Recommended" (maintained) [1] Core Views - The company reported a revenue of 4.91 billion yuan for the third quarter, a year-on-year decrease of 22.5%, with a net profit attributable to the parent company of 27.98 million yuan, down 78.7% year-on-year [3][4] - The gross profit margin remained stable at 31.3%, despite a slight year-on-year decrease of 0.3 percentage points [4] - The company successfully raised 600 million yuan through a private placement, enhancing its financial strength [4] Financial Performance Summary - Revenue for 2024 is projected to be 6.71 billion yuan, a decrease of 14.0% year-on-year, with net profit expected to be 122 million yuan, down 62.2% [6][9] - The gross profit margin is expected to be 31.8% in 2024, with a net profit margin of 1.8% [6][9] - The company’s operating cash flow improved to 10 million yuan, compared to a negative 100 million yuan in the same period last year [4][8] Profitability and Valuation Metrics - The projected P/E ratios for 2024, 2025, and 2026 are 85.6, 35.2, and 27.4 respectively [5][9] - The projected EPS for 2024 is 0.35 yuan, with an expected increase to 1.08 yuan by 2026 [6][9] - The company’s return on equity (ROE) is expected to be 2.1% in 2024, improving to 6.0% by 2026 [9]

投资者关系活动记录表 证券代码：002791 证券简称：坚朗五金 编号：2024-011 广东坚朗五金制品股份有限公司 | --- | --- | --- | |---------------------------|---------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | □特定对象调研 | ☑ 分析师会议 | | 投资者关系 | □媒体采访 □业绩说明 ...

广东坚朗五金制品股份有限公司 Guangdong Kinlong Hardware Products Co., LTD. 股东会议事规则 $$\Xi{\bf{\cal{O}}}\,{\bf{\underline{{{=}}}}}\,{\bf{\cal{D}}}\,{\bf{\underline{{{=}}}}}\,{\bf{\cal{D}}}\,{\bf{\cal{H}}}\,{\bf{\cal{H}}}$$ | 第一章 | 总 则 2 | | --- | --- | | 第二章 | 股东会的一般规定 2 | | 第三章 | 股东会的召集 5 | | 第四章 | 股东会的提案与通知 6 | | 第五章 | 股东会的召开 7 | | 第六章 | 股东会的表决和决议 11 | | 第七章 | 会后事项 15 | | 第八章 | 规则的修改 15 | | 第九章 | 附 则 16 | 广东坚朗五金制品股份有限公司股东会议事规则 广东坚朗五金制品股份有限公司 股东会议事规则 第一章 总 则 第一条 为规范广东坚朗五金制品股份有限公司（以下称"公司"或"本公 司"）的行为，保证股东依法行使职权，根据《中华人民共和国公司 ...

招商证券股份有限公司 关于广东坚朗五金制品股份有限公司 使用募集资金置换预先投入募投项目及已支付发行费用 的自筹资金的核查意见 招商证券股份有限公司（以下简称"招商证券"或"保荐机构"）作为广东坚朗 五金制品股份有限公司（以下简称"坚朗五金"、"公司"或"发行人"）向特定对象 发行股票的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司监管 指引第 2 号——上市公司募集资金管理和使用的监管要求》《深圳证券交易所股 票上市规则》《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》等有关规定，对坚朗五金使用募集资金置换预先投入募投项目及已支 付发行费用的自筹资金事项进行了审慎核查，具体核查情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意广东坚朗五金制品股份有限公司向特 定对象发行股票注册的批复》（证监许可〔2023〕2044 号）核准，公司向特定对 象发行人民币普通股（A 股）32,345,013 股，每股发行价格为人民币 18.61 元， 募集资金总额为人民币 60,194.07 万元，扣除各项发行费用后实际募集资金净额 为人民币 59,213.95 万元。上述 ...

中审亚太会计师事务所(特殊普通合伙) China Audit Asia Pacific Certified Public Accountants LLP 中国 · 北京 BEIJING CHINA 2、以自筹资金预先投入募集资金投资项目及支付发行 1-3 费用情况的报告 务所(特殊普通合伙) China Audit Asia Pacific Certified Public Accountants I.I.P 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn) 报告编码:京24S 目 关于广东坚朗五金制品股份有限公司 以自筹资金预先投入募集资金 投资项目及支付发行费用的鉴证报告 1、鉴证报告 1-2 关于广东坚朗五金制品股份有限公司 以自筹资金预先投入募集资金 投资项目及支付发行费用的鉴证报告 中审亚太审字(2024)008492 号 广东坚朗五金制品股份有限公司全体股东: 我们接受委托,对后附的广东坚朗五金制品股份有限公司(以下简称"坚朗五 金公司")截至 2024 年 10 月 25 日止的《广东坚朗五金制品股份有限公司以自筹资 金预先投入募集资金投资项 ...

广东坚朗五金制品股份有限公司 Guangdong Kinlong Hardware Products Co., LTD. 监事会议事规则 二〇二四年十月 广东坚朗五金制品股份有限公司 监事会议事规则 第一章 总 则 第一条 为了进一步规范广东坚朗五金制品股份有限公司（以下称"公司" 或"本公司"）监事会的议事方式和表决程序，促使监事和监事会有效地履行监 督职责，完善公司法人治理结构，根据《中华人民共和国公司法》（以下称"《公 司法》"）、《中华人民共和国证券法》《上市公司治理准则》《深圳证券交易 所股票上市规则》《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》及其他相关法律、法规、规章、规范性文件，以及《广东坚朗五 金制品股份有限公司章程》（以下称"公司章程"）的有关规定，并结合本公司 实际，制定本规则。 第二条 监事会依据《公司法》和公司章程设立，并行使对公司董事及高级 管理人员的监督权，保障股东利益、公司利益和员工的利益不受侵犯。 第三条 监事应当遵守法律、法规和公司章程，忠实履行监督职责。 监事依据有关法律、法规、规章、规范性文件、公司章程及本规则的规定行 使监督权的活动受法律 ...