一、概述 广州弘亚数控机械股份有限公司 关于对全资子公司增资的进展公告 | | | 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。 注册资本：90,000 万元 法人代表：吴海洋 住 所：广东省佛山市顺德区龙江镇九龙工业园弘顺路 1 号（住所申报） 广州弘亚数控机械股份有限公司（以下简称"公司"）于 2024 年 9 月 11 日 召开第五届董事会第四次会议，审议通过了《关于对全资子公司增资的议案》， 同意公司以自有资金向全资子公司广东德弘重工有限公司（以下简称"德弘重工"） 增资 10,000 万元。具体详见公司于 2024 年 9 月 12 日刊载在《上海证券报》《证 券时报》《证券日报》《中国证券报》和巨潮资讯网（www.cninfo.com.cn）上的《关 于对全资子公司增资的公告》（公告编号：2024-059）。 经营范围：一般项目：木竹材加工机械制造；金属结构制造；工业自动控制 系统装置制造；机械设备销售；电子产品销售；软件开发；软件销售；非居住房 地产租赁；住房租赁。（除依法须经批准的项目外，凭营业执照依法自主开展经 营活动）许可项目：货物进出口 ...

Investment Rating - The report gives a "Buy" rating to Hongya CNC (002833 SZ) with a target price of RMB 21 70 [2][3] Core Views - Hongya CNC is a leading domestic furniture machinery company with cross-cycle growth capabilities The company's products include edge banding machines CNC drills CNC panel saws and machining centers benefiting from product diversification and overseas expansion the company achieved a revenue CAGR of 25 7% from 2012 to 2023 [1] - The company's domestic market share continues to grow due to its competitive pricing and performance comparable to European brands with domestic revenue CAGR of 26 6% from 2015 to 2023 [2] - Overseas revenue has grown significantly with a CAGR of 31 7% from 2015 to 2023 and the company is expected to continue gaining market share in international markets [2] - Product upgrades and an expanding dealer network are key drivers of the company's competitive advantage [2] Financial Performance - In 2023 the company achieved record high revenue and net profit of RMB 2 68 billion and RMB 590 million respectively with a dividend yield of 6 8% [1][2] - The company's ROE has remained above 20% for the past five years except for 2022 and its net profit margin has consistently stayed above 20% [16][18] - The company's free cash flow was RMB 390 million in 2023 and RMB 90 million in the first three quarters of 2024 indicating healthy cash flow conditions [21] Domestic Market - The company's domestic revenue reached RMB 1 87 billion in 2023 significantly outperforming European competitors such as Homag China and Biesse Asia-Pacific [2] - The domestic furniture machinery market is entering an equipment renewal cycle with leading furniture manufacturers' fixed assets increasing by 16 7% YoY in H1 2024 [2] - The company's products are priced at 1/2 to 1/3 of European brands making them highly competitive in the domestic market [2] Overseas Market - Overseas revenue grew from RMB 90 million in 2015 to RMB 810 million in 2023 with a CAGR of 31 7% [2] - The company's overseas revenue in 2023 was RMB 810 million compared to Homag Group's RMB 10 42 billion and Biesse's RMB 5 31 billion indicating significant growth potential [2] - The company's overseas gross margin was 36 4% in 2023 and 36 6% in H1 2024 higher than its domestic gross margin [2] Product and Channel Strategy - The company has continuously upgraded its products through acquisitions and R&D with edge banding machine and CNC drill revenue CAGR of 19 8% and 31 4% respectively from 2012 to 2023 [2] - In H1 2024 the company launched its high-end brand "Kaiao" which has been well-received in the high-end market [2] - The company's global dealer network expanded from 90 in 2015 to over 120 in H1 2024 enhancing its market reach and brand influence [2] Profit Forecast and Valuation - The company's revenue is expected to be RMB 2 85 billion RMB 3 25 billion and RMB 3 75 billion in 2024 2025 and 2026 respectively with net profit of RMB 581 million RMB 658 million and RMB 777 million [2] - The company's PE ratio is projected to be 13x 11x and 9x for 2024 2025 and 2026 respectively [2] - The target price of RMB 21 70 is based on a 14x PE multiple for 2025 [2]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company has experienced revenue growth, but profit margins are under pressure due to market conditions [1] - The domestic furniture industry is currently facing demand challenges, but government policies are expected to support equipment upgrades and stimulate demand recovery [1] - The company is positioned to benefit from these trends as a major supplier of production equipment for furniture manufacturers [1] Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved revenue of 2.166 billion yuan, a year-on-year decrease of 4.83%, with a net profit of 455 million yuan, down 9.93% year-on-year [1] - In Q3 2024, revenue was 674 million yuan, a decrease of 5.83% year-on-year, and net profit was 154 million yuan, down 9.93% year-on-year [1] - The company’s cash flow from operating activities for Q1-Q3 2024 was 445 million yuan, indicating good cash flow management [2] Growth Strategy - The company is implementing a dual-driven strategy focusing on high-end product development and horizontal expansion through industry acquisitions [1] - New subsidiaries, Kai'ao Intelligent and Xing Shi Intelligent, have been established to enhance market competitiveness and explore automation in furniture machinery [1] Profit Forecast - The revenue forecast for 2024-2026 is adjusted to 3.088 billion, 3.585 billion, and 4.185 billion yuan respectively, with EPS projected at 1.58, 1.85, and 2.17 yuan [3] - The current stock price corresponds to a PE ratio of 10.6, 9.1, and 7.8 for the respective years [3] Key Financial Metrics - The company’s revenue growth rate is projected at 15.1% for 2024, 16.1% for 2025, and 16.7% for 2026 [5] - The net profit growth rate is expected to be 13.9% in 2024, 16.5% in 2025, and 17.8% in 2026 [5] - The company maintains a reasonable expense ratio despite an increase in management and R&D costs [2]

证券简称：弘亚数控 证券代码：002833 转债简称：弘亚转债 转债代码：127041 广州弘亚数控机械股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------|-------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活 \n动类别 | 特定对象调研 \n 媒体采访 \n 新闻发布会 \n 现场参观 | 编号： 20241031 \n 分析师会议 \n 业绩说明会 \n 路演活动 \n 其他 电话会议 | | 参与单位名称 及人员姓名 | 详见附件 | | | 时间 | 2024 年 10 月 31 日 | 10 ...

Financial Performance - Revenue for the third quarter was 673.93 million yuan, a decrease of 5.83% year-over-year[2] - Net profit attributable to shareholders was 153.99 million yuan, down 9.93% compared to the same period last year[2] - Operating income rose to 2,165,508,080.11 RMB from 2,047,213,431.67 RMB, indicating revenue growth[15] - Net profit attributable to parent company shareholders was RMB 455.39 million, compared to RMB 478.52 million in the same period last year[16] - Sales revenue from goods and services was RMB 2.35 billion, up from RMB 2.19 billion in the prior year[17] - Basic earnings per share were RMB 1.07, down from RMB 1.13 in the same period last year[16] - Total comprehensive income was RMB 459.07 million, compared to RMB 480.78 million in the previous year[16] Asset and Liability Changes - Total assets increased by 4.64% to 4.17 billion yuan compared to the end of the previous year[2] - Total assets increased to 4,168,269,963.82 RMB from 3,983,473,859.66 RMB, reflecting growth in the company's asset base[13][14] - Total current assets increased to 1,821,075,383.63 RMB from 1,743,584,669.76 RMB at the beginning of the period[12] - Fixed assets grew by 69.79% to 1.36 billion yuan as construction projects were transferred to fixed assets[7] - Fixed assets saw a significant increase to 1,362,724,247.80 RMB from 802,595,987.90 RMB, indicating substantial capital expenditure[13] - Total liabilities decreased to 1,139,009,721.50 RMB from 1,168,640,148.07 RMB, showing a reduction in overall debt[14] - Owner's equity increased to 3,029,260,242.32 RMB from 2,814,833,711.59 RMB, reflecting improved financial health[14] Cash Flow and Investments - Investment activities resulted in a net cash outflow of 1.03 billion yuan, a 675.16% increase, mainly due to increased deposits in fixed-term accounts[7] - Operating cash flow was RMB 444.68 million, a decrease from RMB 608.92 million in the previous year[18] - Investment cash outflow increased significantly to RMB 1.27 billion, compared to RMB 503.25 million in the previous year[18] - Cash and cash equivalents at the end of the period decreased to RMB 200.14 million from RMB 1.53 billion at the beginning of the period[19] - Tax refunds received increased to RMB 91.59 million from RMB 40.29 million in the prior year[18] - Cash paid for employee compensation was RMB 295.01 million, up from RMB 240.18 million in the previous year[18] - Cash outflow for dividends and interest payments was RMB 273.42 million, compared to RMB 181.92 million in the same period last year[18] R&D and Innovation - R&D expenses increased by 38.93% to 90 million yuan due to increased investment in new product development[7] - R&D expenses increased to 90,000,566.57 RMB from 64,778,982.53 RMB, showing a commitment to innovation[15] Inventory and Production - Inventory increased by 56.92% to 474.42 million yuan due to increased production capacity from new factory operations[7] - Inventory rose to 474,421,817.81 RMB from 302,339,449.15 RMB[12] Shareholder Information - The company's total number of ordinary shareholders at the end of the reporting period was 19,714[8] - Li Maohong, the largest shareholder, holds 38.98% of the company's shares[8] - The basic pension fund 16032 portfolio holds 3.39% of the company's shares[8] - Li Maohong holds 41,339,062 shares of RMB ordinary shares, making him the largest shareholder[9] Financial Assets and Receivables - Monetary funds decreased to 1,008,092,231.57 RMB from 1,171,908,724.87 RMB[12] - Trading financial assets increased significantly to 129,763,963.46 RMB from 26,216,347.16 RMB[12] - Accounts receivable decreased to 45,394,102.28 RMB from 49,101,483.63 RMB[12] - Prepayments increased to 11,425,331.71 RMB from 4,785,269.35 RMB[12] - Other receivables increased to 12,536,033.70 RMB from 10,953,576.70 RMB[12] - Long-term equity investments decreased slightly to 54,875,727.15 RMB from 56,362,595.66 RMB[13] Dividends and Convertible Bonds - The company implemented a cash dividend of 3 RMB per 10 shares for the first half of 2024[10] - The conversion price of "Hongya Convertible Bonds" was adjusted downward to 18.00 RMB per share, effective from September 12, 2024[11] Operating Costs and Expenses - Operating costs increased to 1,688,811,842.15 RMB from 1,539,340,332.82 RMB, reflecting higher expenses[15] - Financial expenses showed a net benefit of -4,753,718.63 RMB, compared to -2,644,037.79 RMB, indicating improved financial management[15] - Other income increased to 37,554,082.09 RMB from 36,987,083.87 RMB, contributing to overall profitability[15]

| 证券代码：002833 | 证券简称：弘亚数控 | 公告编号：2024-064 | | --- | --- | --- | | 转债代码：127041 | 转债简称：弘亚转债 | | 广州弘亚数控机械股份有限公司 第五届监事会第三次会议决议公告 本公司及监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、监事会会议召开情况 1、广州弘亚数控机械股份有限公司（以下简称"公司"）第五届监事会第 三次会议通知于 2024 年 10 月 26 日以专人送达形式向各位监事发出。 2、会议于 2024 年 10 月 30 日在公司会议室以现场表决的方式召开。 经审核，监事会认为：董事会编制和审核公司《2024 年第三季度报告》的程 序符合法律、行政法规和深圳证券交易所的规定，报告内容真实、准确、完整地 反映了公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 公司《 2024 年第三季度报告》同日登载于巨潮资讯网 （http://www.cninfo.com.cn）。 三、备查文件 《第五届监事会第三次会议决议》。 特此公告。 3、本次监事会会议应出席的监事 3 名 ...

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、董事会会议召开情况 广州弘亚数控机械股份有限公司 第五届董事会第五次会议决议公告 1、广州弘亚数控机械股份有限公司（以下简称"公司"）第五届董事会第 五次会议通知于 2024 年 10 月 26 日以专人送达、电子邮件、电话等形式向各位 董事发出。 2、会议于 2024 年 10 月 30 日在公司会议室以现场与通讯表决相结合的方式 召开。 3、董事会会议应出席的董事 8 名，实际出席会议的董事 8 名。 | 证券代码：002833 | 证券简称：弘亚数控 | 公告编号：2024-063 | | --- | --- | --- | | 转债代码：127041 | 转债简称：弘亚转债 | | 1、《第五届董事会第五次会议决议》； 1、会议以 8 票同意，0 票反对，0 票弃权的表决结果审议通过了《关于〈2024 年第三季度报告〉的议案》 董事会认为，公司《2024 年第三季度报告》符合法律、行政法规和深圳证券 交易所的相关规定，内容真实、准确、完整，不存在任何虚假记载、误导性陈述 或重大遗漏。 该议案提交董事会 ...

| 证券代码：002833 | 证券简称：弘亚数控 | 公告编号：2024-061 | | --- | --- | --- | | 转债代码：127041 | 转债简称：弘亚转债 | | 广州弘亚数控机械股份有限公司 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。 广州弘亚数控机械股份有限公司（以下简称"公司"）于 2024 年 6 月 11 日 召开 2023 年年度股东大会审议通过了《关于提请股东大会授权董事会进行 2024 年中期分红方案的议案》，在满足相应期间归属于上市公司股东的扣除非经常性 损益的净利润为正的现金分红条件下，由董事会在分红上限不超过相应期间归属 于上市公司股东的净利润前提下，制定 2024 年中期现金分红方案。2024 年 8 月 29 日，公司召开第五届董事会第三次会议和第五届监事会第二次会议，审议通 过了《关于 2024 年半年度利润分配方案的议案》，现将权益分派事宜公告如下： 一、权益分派方案情况 1、本次权益分派方案的具体内容为：公司以实施 2024 半年度权益分派方案 时股权登记日的总股本 ...

| 证券代码：002833 | 证券简称：弘亚数控 | 公告编号：2024-062 | | --- | --- | --- | | 转债代码：127041 | 转债简称：弘亚转债 | | 广州弘亚数控机械股份有限公司 关于可转换公司债券转股价格调整的公告 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。 特别提示： 1、调整前转股价格：18.00 元/股 2、调整后转股价格：17.70 元/股 3、本次转股价格调整生效日期：2024 年 10 月 18 日 派送现金股利：P1=P0-D； 上述三项同时进行：P1＝（P0-D+A×k）/（1+n+k）。 其中：P0 为调整前转股价，n 为派送股票股利或转增股本率，k 为增发新股 或配股率，A 为增发新股价或配股价，D 为每股派送现金股利，P1 为调整后转股 价。 当公司出现上述股份和/或股东权益变化情况时，将依次进行转股价格调整， 并在中国证监会指定的上市公司信息披露媒体上刊登转股价格调整的公告，并于 公告中载明转股价格调整日、调整办法及暂停转股时期（如需）。当转股价格调 整日为本次发行的可转换公司债券持有人转股申 ...

| | | 广州弘亚数控机械股份有限公司 2024 年第三季度可转换公司债券转股情况公告 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： | 股票代码：002833 | | | | | | | 股票简称：弘亚数控 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 债券代码：127041 | | | | | | | 债券简称：弘亚转债 | | | 转股价格：人民币 | 18.00 | | 元/股 | | | | | | | 转股时间：2022 年 | 1 | 月 | 17 | 日至 2026 | 年 7 | 月 | 11 | 日 | 根据《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 15 号——可转换公司债券》的相关规定，广州弘亚数控机械股份有限公 司（以下简称"公司"）现将 2024 年第三季度可转换公司债券（以下简称"可 转债"）转股情况及公司股份变动情况公告如下： 一、可转债发行上市情况及转股价格调整情况 经中国证券监督管理委员会"证监许可〔20 ...