证券代码：002906 证券简称：华阳集团 公告编号：2024-050 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、担保额度概述 惠州市华阳集团股份有限公司（以下简称"公司"）于2024年3月28日召开 的第四届董事会第十三次会议、2024年5月17日召开的2023年年度股东大会审议 通过了《关于为控股子公司提供担保的议案》《关于开展资产池业务的议案》， 同意公司为纳入合并报表范围的各控股子公司（含授信期限内新设立或纳入的控 股子公司）银行授信提供担保，担保额度合计不超过人民币620,000万元（或等 值外币），同意公司全资子公司惠州市华阳精机有限公司为其控股子公司江苏中 翼汽车新材料科技有限公司原料采购提供担保，担保额度不超过5,000万元人民 币，同意公司及控股子公司在不超过12.00亿元人民币的额度内开展资产池业务， 上述额度内合同的签署有效期自2023年年度股东大会审议通过之日起至2024年 年度股东大会召开之日止，有效期内额度可循环使用。具体内容详见公司刊登在 巨潮资讯网（http://www.cninfo.com.cn）和《证券时报》《中国 ...

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。 惠州市华阳集团股份有限公司（以下简称"公司"）于 2024 年 8 月 16 日召 开的第四届董事会第十六次会议审议通过了《关于使用部分闲置募集资金进行现 金管理的议案》，同意公司及控股子公司使用总额度不超过人民币 40,000 万元 的闲置募集资金进行现金管理，额度使用期限为自本次董事会审议通过之日起 12 个月，并授权管理层在额度范围内行使具体操作的决策权并签署相关合同文 件 。具体内容详见公司于 2024 年 8 月 20 日刊登在巨潮资讯网 （http://www.cninfo.com.cn）和《证券时报》《中国证券报》《上海证券报》 上的《关于使用部分闲置募集资金进行现金管理的公告》（公告编号：2024-047）。 近日，公司全资子公司惠州华阳通用电子有限公司使用暂时闲置募集资金人 民币 7,000 万元在募集资金专项账户开户银行购买了理财产品；公司全资子公司 惠州市华阳精机有限公司使用暂时闲置募集资金人民币 6,000 万元在现金管理 专用结算账户开户银行购买了理财产品。现就相关事项公告如下： 证券代 ...

证券代码：002906 证券简称：华阳集团 公告编号：2024-048 惠州市华阳集团股份有限公司 关于参加广东辖区 2024 年投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，惠州市华阳集团股份有限公司（以下简 称"公司"）将参加由广东证监局、广东上市公司协会联合举办的"坚定信心 携 手共进 助力上市公司提升投资价值——2024 广东辖区上市公司投资者关系管理 月活动投资者集体接待日"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net）参与本次互动交流，活动时间为 2024 年 9 月 12 日（周 四）15:30-16:30。 届时公司董事长、总裁邹淦荣先生，财务负责人彭子彬先生，董事会秘书李 翠翠女士将在线就公司 2024 年半年度业绩等投资者关心的问题，与投资者进行 沟通与交流，欢迎广大投资者踊跃参与。 特此公告！ | --- | --- | --- | |-------|-------|----------- ...

| --- | --- | |------------------------------|------------| | | | | ＃市场 ma 数 rk 据 etData ＃ | | | 市场数据日期 | 2024-08-22 | | 收盘价（元） | 23.06 | | 总股本（百万股） | 524.62 | | 流通股本（百万股） | 524.62 | | | | | 净资产（百万元） | 6088.96 | | 总资产（百万元） | 10051.07 | | 每股净资产(元 ) | 11.61 | | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------|-------|-------|-------|-------| | ＄ 会计 zy 年 cw 度 zb\| 主要财务指标＄ | 2023 | 2024E | 2025E | 2026E | | 营业收入(百万元 ) | 7137 | 8995 | 11053 | 13203 | ...

Investment Rating - The report maintains a "Buy" rating for Huayang Group with a target price adjusted to 32.67 CNY from the previous 39.48 CNY [3][4]. Core Insights - The company's performance in H1 2024 shows significant year-on-year growth, with revenue reaching 4.19 billion CNY, up 46.2%, and net profit attributable to shareholders at 290 million CNY, up 57.9% [2][3]. - The increase in performance is attributed to the continuous release of orders and the ongoing expansion of new products, indicating a strong growth outlook [2][3]. - The company has made notable progress in order acquisition, particularly in the automotive electronics sector, with significant increases in orders for key products [3]. Financial Summary - For H1 2024, the company achieved a revenue of 4.19 billion CNY, a 46.2% increase year-on-year, and a net profit of 290 million CNY, reflecting a 57.9% increase [3]. - In Q2 2024, revenue was 2.20 billion CNY, up 41.9% year-on-year and 10.6% quarter-on-quarter, with a net profit of 150 million CNY, up 38.8% year-on-year and 1.7% quarter-on-quarter [3]. - The gross margin for Q2 was 21.9%, showing a slight decrease of 0.2 percentage points year-on-year but an increase of 0.4 percentage points quarter-on-quarter [3]. - The company has improved its expense management, with overall expense ratios decreasing year-on-year due to scale effects and management improvements [3]. Order and Product Development - The company has made significant advancements in acquiring orders for automotive electronics, with major products like cockpit domain controllers and HUDs receiving numerous project approvals [3]. - The precision die-casting business has also seen a substantial increase in orders for components related to electric drive systems and intelligent driving systems [3]. - Continuous investment in R&D has led to rapid iterations of automotive electronic products and technological advancements in precision die-casting [3].

Group 1: Company Overview and Performance - The company has developed into a leading supplier of automotive electronic products and components in China, with significant growth in both automotive electronics and precision die-casting businesses [5] - In the first half of 2024, the company achieved a revenue of 4.193 billion CNY, representing a year-on-year increase of 46.23% [5] - The automotive electronics segment saw a revenue increase of 65.41%, driven by new product lines entering mass production [5] - The precision die-casting segment's revenue grew by 23.55%, with significant sales in components related to automotive intelligence [5] Group 2: Client Base and Market Expansion - The company has expanded its client base to include major domestic and international automotive manufacturers, enhancing its market presence [5][6] - New projects with Stellantis, SAIC Audi, and other clients have been secured, indicating a strong demand for diverse product offerings [6] - The company is actively pursuing overseas production bases to support its growing business needs [6] Group 3: Product Development and Innovation - The company is continuously expanding its product lines, including HUD, wireless charging, and VPD, with several products achieving significant market share [6][7] - The introduction of new products such as the VPD, which integrates HUD technology, is expected to enhance user experience and expand product offerings [7] - The company is focusing on technological integration and product innovation to maintain competitiveness in the rapidly evolving automotive sector [7][8] Group 4: Financial Performance and Future Outlook - The net profit attributable to shareholders reached 287 million CNY, a year-on-year increase of 57.89%, with a net profit margin improvement of 0.48 percentage points [5] - The company aims to sustain its growth momentum by increasing R&D investments and enhancing product quality [8] - The automotive parts supply market in China is expected to continue expanding, providing ample opportunities for growth [8]

Investment Rating - The report maintains a "Buy" rating for Huayang Group (002906) [1][2] Core Views - The company achieved a revenue of 4.193 billion yuan in H1 2024, representing a year-on-year increase of 46.2%, and a net profit of 287 million yuan, up 57.9% year-on-year, aligning with previous performance forecasts [1] - The automotive electronics segment is expanding significantly, with H1 2024 revenue reaching 3.07 billion yuan, a 65.4% increase year-on-year, accounting for 73% of total revenue [1][2] - The company is increasing its R&D investment, with 373 million yuan spent in H1 2024, a 25.6% increase year-on-year, representing 8.9% of total revenue [2] Summary by Sections Financial Performance - In Q2 2024, the company reported revenue of 2.2 billion yuan, a 41.9% increase year-on-year and a 10.6% increase quarter-on-quarter [1] - The gross margin for H1 2024 was 21.8%, down 0.5 percentage points year-on-year, while the net margin was 6.9%, up 0.5 percentage points year-on-year [1] Business Segments - The automotive electronics business is seeing robust growth, with significant orders and new product lines entering mass production, including cockpit domain controllers and digital acoustics [1] - The precision die-casting business also showed steady growth, with revenue of 910 million yuan in H1 2024, a 23.6% increase year-on-year [2] Future Outlook - The company forecasts EPS of 1.20, 1.47, and 1.81 yuan for 2024, 2025, and 2026 respectively, with a projected CAGR of 26.9% for net profit [2][3] - The report indicates ongoing capacity expansion, with new facilities in Huizhou and Zhejiang expected to contribute to future growth [2]

2024 年 08 月 21 日 公司点评 买入/维持 华阳集团(002906) 目标价: 昨收盘:23.63 新产品加速迭代量产落地，双主业高速增长 | --- | --- | --- | --- | --- | |-------|----------------------------------------------------------------------------------|----------|--------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

[Table_MainInfo] 公司研究/汽车与零配件/汽车零配件 证券研究报告 华阳集团（002906）公司半年报点评 2024 年 08 月 22 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | --- | |-----------------------------------------------------------------|-------------| | 股票数据 | | | 08 [ Table_StockInfo 月 21 日收盘价（元） ] | 23.63 | | 52 周股价波动（元） | 18.45-38.80 | | 总股本 / 流通 A 股（百万股） | 525/524 | | 总市值 / 流通市值（百万元） | 12397/12393 | | 相关研究 | | | [Table_ReportInfo] 《 2023 年业绩高速增长，新订单与新产品助 | | | 力公司稳健成长》 2024.04.01 | | | 《 Q3 业绩同环比双增，客户与产品结构持续 | | | 优化》 2023.11.07 | | 市场表现 [Table_Qu ...

总股本（万股） 52,463.88 2024 年 08 月 20 日 公司研究 评级：增持(维持) 研究所： 证券分析师： 戴畅 S0350523120004 daic@ghzq.com.cn 联系人 ： 吴铭杰 S0350124030004 wumj@ghzq.com.cn [Table_Title] 2024 年 H1 归母净利润高速增长， "新品研发+ 客户开拓"壮大公司增长引擎 ——华阳集团（002906）2024 年中报点评 最近一年走势 事件: 2024 年 8 月 19 日，华阳集团发布 2024 年中报：2024 年 H1 公司实现 营收 41.93 亿元，同比+46.2%；归母净利润 2.87 亿元，同比+57.9%； 扣非后归母净利润 2.77 亿元，同比+64.4%，其中 2024Q2 实现营收 22.03 亿元，同比+41.9%；归母净利润 1.45 亿元，同比+38.8%；扣非后归母 净利润 1.4 亿元，同比+45.6%。 投资要点: 相对沪深 300 表现 2024/08/20 2024 年 H1 营收高速增长，"汽车电子&精密压铸"双轮驱动。 2024 年 H1 公司实现营收 ...