证券代码：002803 证券简称：吉宏股份 公告编号：2024-033 厦门吉宏科技股份有限公司 2023 年年度股东大会决议公告 本公司及全体董事保证本公告内容真实、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 1、本次股东大会未出现否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、会议召开时间 （1）现场会议时间：2024年4月22日（星期一）下午14:30，会期半天。 （2）网络投票时间：2024年4月22日。其中，通过深圳证券交易所交易系统 进行网络投票的具体时间为：2024年4月22日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投票的具体时间为：2024年4月22日上午9:15 至下午15:00。 2、现场会议召开地点 福建省厦门市思明区湖滨南路55号禹洲广场38楼。 3、会议召开方式 本次股东大会采取现场投票与网络投票相结合的方式。 4、会议召集人：公司第五届董事会。 5、会议主持人：董事长王亚朋先生。 6、本次会议通知及相关文件分别于 2024 年 3 月 30 日刊登在 ...

]yrtsudnI_elbaT[ 跨境社交电商龙头，业绩增长强劲 2024 年 04 月 02 日 东南亚消费复苏，跨境社交电商业务乘势而上。2023 年跨境社交电商 业务实现营业收入 42.57 亿元，同比增长 37.02%；占营业收入比重为 63.58%。据灼识咨询数据，社交媒体流量是国内 B2C 出口电商市场增 长最快的流量来源，公司在 Meta、TikTok、Google 等国外社交网络 平台上精准推送独立站广告进行线上 B2C 销售，以 2.2%的市场份额位 居行业第二。未来通过在已打造自有品牌 SENADA BIKES（自行车）、 Veimia（内衣）、Konciwa（遮阳伞）及 PETTENA（宠物用品）的基础 上，持续建立多品牌产品矩阵长期驱动业绩增长。 盈利能力提升。2023 年公司毛利率达 46.66%，同比提升 5.97pct。销 售 / 管 理 / 研发费用率分别为 34.99%/3.35%/2.12% ，同比变动 +5.69/+0.48/-0.64pct。2023 年公司第三期员工持股计划和 2023 年 限制性股票激励计划合计产生股份支付摊销金额 2637.88 万元，导致 管理费 ...

Investment Rating - The report maintains a "Buy" rating for the company, expecting the stock price to outperform the industry index by over 15% in the next six months [32]. Core Insights - The company achieved a revenue of approximately 6.695 billion yuan in 2023, representing a year-on-year growth of 24.53%. The net profit attributable to shareholders was 345 million yuan, with a significant year-on-year increase of 87.57% [21][9]. - The cross-border social e-commerce business showed strong performance, with revenue reaching 4.257 billion yuan in 2023, a year-on-year increase of 37.02%, and a gross margin of 63.31% [6][9]. - The company has developed several AI-driven e-commerce models, including ChatGiiKin-6B for product selection and G-king for intelligent advertising, enhancing operational efficiency and advertising precision [10][2][3]. Financial Summary - Revenue is projected to grow from 6.695 billion yuan in 2023 to 11.434 billion yuan by 2026, with a compound annual growth rate (CAGR) of approximately 18.5% [6]. - The net profit attributable to shareholders is expected to increase from 345 million yuan in 2023 to 648 million yuan in 2026, reflecting a robust growth trajectory [6]. - The company's return on equity (ROE) is forecasted to rise from 14.4% in 2023 to 16.6% in 2026, indicating improving profitability [6][14]. Industry Context - The Southeast Asian e-commerce market is identified as one of the fastest-growing segments globally, and the company is positioned as a leading player in cross-border social e-commerce in this region [6]. - The report highlights the company's long-term partnerships with major fast-moving consumer goods (FMCG) brands, contributing to stable revenue growth in its packaging solutions business [5][11].

本公司及全体董事保证本公告内容真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 厦门吉宏科技股份有限公司（以下简称"公司"）于 2023 年 8 月 30 日召开 第五届董事会第十次会议，审议通过《关于回购公司股份的议案》，同意公司使 用不低于人民币 4,000 万元、不超过人民币 6,000 万元的自有资金、通过二级市 场以集中竞价交易方式回购部分公司发行的人民币普通股（A 股）股票，用于后 期实施员工持股计划或股权激励计划，回购价格不超过 25 元/股，回购期限自董 事会审议通过回购方案之日起不超过 12 个月。具体内容详见公司于 2023 年 8 月 31 日刊登在《证券时报》《证券日报》《中国证券报》《上海证券报》和巨潮资 讯网（www.cninfo.com.cn）的《关于回购公司股份方案的公告》（公告编号： 2023-068）。 基于对公司未来发展前景的信心及对公司价值的高度认可，经综合考虑公司 未来发展战略、经营情况、财务状况和合理估值水平，为维护公司及广大投资者 的利益，增强投资者对公司的投资信心，公司于 2024 年 2 月 5 日召开第五届董 事会第十五次会议，审议通过《关于增加公 ...

Investment Rating - The investment rating for the company is "Buy" [23][19][24] Core Insights - The company demonstrated strong revenue and profit growth in 2023, with revenue reaching 66.95 billion and a year-on-year increase of 24.53%. The net profit attributable to shareholders was 3.45 billion, reflecting a year-on-year growth of 87.57% [23][24] - The gross margin improved by 5.97 percentage points to 46.66%, driven by the recovery of overseas consumption and the application of AI technology to enhance efficiency [23][24] - The cross-border e-commerce business achieved significant growth, with revenue of 42.57 billion, a year-on-year increase of 37.02%, benefiting from the recovery in overseas markets [24][19] Summary by Relevant Sections Financial Performance - In 2023, the company achieved a revenue of 66.95 billion (YoY +24.53%) and a net profit of 3.45 billion (YoY +87.57%) [23] - The gross margin for the packaging business increased by 3.44 percentage points to 19.20% [3] - The cross-border e-commerce business's gross margin improved by 3.82 percentage points to 63.31% [24] Business Segments - The packaging business generated revenue of 20.97 billion (YoY +5.75%), focusing on fast-moving consumer goods clients [23] - The application of AI technology in cross-border e-commerce includes optimizing product selection, generating landing pages, and enhancing advertising efficiency [17][24] Future Projections - Revenue projections for 2024, 2025, and 2026 are 79 billion, 91 billion, and 104 billion respectively, with net profits of 4.8 billion, 5.8 billion, and 6.4 billion [19] - The expected diluted EPS for 2024, 2025, and 2026 are 1.25, 1.50, and 1.65 respectively, with corresponding P/E ratios of 14, 12, and 10 [19]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 15% in the next six months [14][22]. Core Insights - The company achieved a revenue of 6.695 billion yuan in 2023, representing a year-on-year growth of 24.53%, and a net profit attributable to shareholders of 345.1 million yuan, up 87.57% year-on-year [21][22]. - The gross margin improved to 46.66% in 2023, an increase of 5.97 percentage points compared to the previous year [8]. - The cross-border e-commerce business saw rapid growth, with revenue reaching 4.257 billion yuan, a 37.02% increase year-on-year, driven by a recovery in key sales regions and rising consumer purchasing power [8][22]. - The company is focusing on brand building, having established several proprietary brands, which is expected to enhance revenue through brand premium [8][22]. - The company is leveraging AI to enhance operational efficiency and decision-making in advertising, with multiple AI models already in use [28]. Financial Summary - The company’s revenue and profit forecasts for 2024-2025 have been adjusted, with net profit estimates revised to 4.3 billion yuan for 2024 and 5.3 billion yuan for 2025 [22]. - The packaging business generated revenue of 2.097 billion yuan in 2023, reflecting a 5.75% year-on-year growth, maintaining a stable market position [15]. - The report highlights a stable R&D investment of 142 million yuan in 2023, despite a slight decrease of 4.40% year-on-year, with ongoing projects in packaging and e-commerce [8][15].

Investment Rating - The investment rating for the company is "Buy" with a 6-month outlook maintained [5]. Core Insights - The company is positioned as the second-largest B2C cross-border e-commerce player in China, with a projected CAGR of 35.47% for cross-border social e-commerce revenue from 2018 to 2023 [1]. - The company achieved a revenue of 6.69 billion yuan in 2023, representing a year-on-year growth of 24.53%, and a net profit of 345.1 million yuan, up 87.57% year-on-year [16]. - The gross margin for 2023 was reported at 46.66%, an increase of 5.98 percentage points compared to the previous year [3]. Revenue Analysis - The cross-border social e-commerce business generated revenue of 4.257 billion yuan in 2023, reflecting a year-on-year increase of 37.02%, while the packaging business achieved revenue of 2.097 billion yuan, growing by 5.75% [6]. - The company has maintained a stable inventory turnover ratio, with inventory sales ratio controlled around 3% over the past three years [1]. Financial Performance - The company reported a cash flow from operating activities of 726 million yuan in 2023, marking an 85.6% increase year-on-year [1]. - The financial forecast indicates expected net profits of 430 million yuan, 520 million yuan, and 620 million yuan for 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 16, 13, and 11 [18]. Strategic Initiatives - The company plans to enhance brand building and continue developing the "Jimiang Cloud" SaaS platform, leveraging its marketing data and technology to incubate proprietary brands [4]. - The company is expanding its cross-border e-commerce services to over 40 countries, utilizing AI-driven operational systems to create a competitive edge [7].

Investment Rating - The report maintains a "Recommended" rating for the company [8] Core Views - The company has shown a continuous increase in the proportion of high-margin cross-border business, which has driven its profitability [7] - The cross-border e-commerce business accounted for 63.58% of total revenue in 2023, reflecting a 5.79 percentage point increase year-on-year [7] - The company is expected to achieve revenue growth of 14.6% in 2024, with projected revenues of 7.671 billion yuan [2][7] - The net profit for 2024 is forecasted to be 436 million yuan, representing a year-on-year growth of 26.5% [2][7] Financial Summary - Revenue for 2023 was 6.695 billion yuan, with a year-on-year growth of 24.5% [2][7] - The gross profit margin for 2023 was 46.66%, an increase of 6.06 percentage points from the previous year [7] - The net profit margin for 2023 was 5.15%, reflecting a stable performance [7] - Earnings per share (EPS) for 2023 was 0.90 yuan, with projections of 1.13 yuan for 2024 [2][7] - The company’s price-to-earnings (PE) ratio is expected to decrease from 20 in 2023 to 16 in 2024, indicating improved valuation [2][7] Business Segments - The cross-border e-commerce segment generated 4.257 billion yuan in revenue in 2023, growing by 37.02% year-on-year [7] - The packaging business achieved revenue of 2.097 billion yuan in 2023, with a growth rate of 5.75% [7] - Other businesses, including cloud services and advertising, contributed 341 million yuan in revenue, marking a 19.10% increase [7] Future Outlook - The company is expected to continue its investment in intelligent construction and digital transformation, enhancing operational efficiency [7] - The forecast for 2024-2026 indicates revenues of 7.671 billion yuan, 8.829 billion yuan, and 10.209 billion yuan respectively, with corresponding net profits of 436 million yuan, 517 million yuan, and 602 million yuan [2][7]

包装业务深耕快消品领域。全年包装业务的营业收入为 20.96 亿 元，同比增速为 5.75%，占收入比例 31.32%。主要客户群体包括 食品、餐饮、饮料、日用品及快消品行业的龙头企业，核心竞争 力在于公司能满足从营销策略、产品设计、工艺设计及技术策划、 生产到及运输及物流的一站式需求。 风险提示 1.《吉宏股份公司深度-跨境主业修复，Al+品牌策略促增长》，2024.3.19 敬请参阅最后一页特别声明 1 敬请参阅最后一页特别声明 2 | --- | --- | --- | --- | --- | --- | |-------|-----------------------------------------|-------|-------|-------|-------| | | 日期 一周内 一月内 二月内 三月内 六月内 | | | | | | 买入 | 2 | 9 | 13 | 20 | 47 | | 增持 | 0 | 0 | 0 | 1 | 0 | | 中性 | 0 | 0 | 0 | 0 | 0 | | 减持 | 0 | 0 | 0 | 0 | 0 | | 评分 | 1.00 1.00 1.00 ...

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