| 证券代码：002937 | 证券简称：兴瑞科技 公告编号：2024-110 | | --- | --- | | 债券代码：127090 | 债券简称：兴瑞转债 | 宁波兴瑞电子科技股份有限公司 关于完成注册资本工商变更登记的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假 记载、误导性陈述或者重大遗漏。 宁波兴瑞电子科技股份有限公司（以下简称"公司"）于 2024 年 9 月 12 日召开 2024 年第二次临时股东大会审议通过《关于变更注册资本并相应修改章 程的议案》，具体内容请详见公司于 2024 年 9 月 13 日在巨潮资讯网披露的 《2024 年第二次临时股东大会决议公告》（公告编号：2024-096）。 近日，公司已完成了注册资本工商变更登记及公司章程修正案备案手续，并 取得宁波市市场监督管理局换发的《营业执照》，本次工商登记变更事项为公司 注册资本由人民币 29,777.02 万元变更为 29,776.36 万元，其他工商登记事项未发 生变更。 特此公告。 宁波兴瑞电子科技股份有限公司董事会 2024 年 11 月 14 日 ...

| 证券代码：002937 | 证券简称：兴瑞科技 | 公告编号：2024-108 | | --- | --- | --- | | 债券代码：127090 | 债券简称：兴瑞转债 | | 宁波兴瑞电子科技股份有限公司 关于设立泰国子公司并投资建设生产基地的进展公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假 记载、误导性陈述或者重大遗漏。 一、对外投资概述 宁波兴瑞电子科技股份有限公司（以下简称"公司"）于 2024 年 7 月 4 日 召开第四届董事会第二十三次会议，审议通过《关于设立泰国子公司并投资建设 生产基地的议案》，同意公司使用不超过 1,100 万美元的自有资金在泰国设立子 公司（以下简称"泰国公司"）并投资建设生产基地（以下简称"本次对外投资"）， 包括但不限于购买土地，购建固定资产等相关事项，实际投资金额以中国及当地 主管部门批准金额为准。具体内容详见公司于 2024 年 7 月 5 日在巨潮资讯网披 露的《关于设立泰国子公司并投资建设生产基地的公告》。 (2) 注册证书号码：0215567013076 (3) 公司类型：有限责任公司 (4) 注册资本：500 万泰铢 ...

Investment Rating - Buy (maintained) [1][2] Core Views - The company's revenue and profit in 2024Q3 were under pressure due to a decline in sales from its major automotive client, BMW, and the impact of RMB appreciation and depreciation from new factory operations [2][3] - The company's automotive electronics business is expected to continue high growth, supported by its strategic partnerships in the global smart terminal and new energy vehicle sectors [4] - The company's capacity expansion in new energy vehicle components is progressing steadily, with potential for further customer expansion in the automotive electronics sector [1][4] Financial Performance - 2024Q1-Q3 revenue: 1.478 billion yuan, YoY -0.60%; net profit: 192 million yuan, YoY +1.33%; gross margin: 26.96%, up 0.39 pcts YoY [2] - 2024Q3 revenue: 474 million yuan, YoY -8.63%, QoQ -5.92%; net profit: 45 million yuan, YoY -39.63%, QoQ -40.27%; gross margin: 24.42%, down 3.8 pcts YoY [2] - 2024E/2025E/2026E net profit forecast adjusted to 270/340/400 million yuan (previously 320/400/510 million yuan) [2] Market and Industry Analysis - BMW's global deliveries in 2024Q3 fell by 13% YoY, with a significant 29.8% drop in the Chinese market, impacting the company's revenue [3] - The company is strengthening its position in the automotive insert molding sector, with a focus on expanding its customer base beyond BMW [2][4] - The new energy vehicle market is expected to drive future growth, with the company's capacity layout and strategic partnerships positioning it well for future opportunities [4] Valuation Metrics - Current PE ratio: 18.4x (2024E), 14.9x (2025E), 12.7x (2026E) [2] - Current PB ratio: 3.1x (2024E), 2.6x (2025E), 2.2x (2026E) [5] - EPS forecast: 0.92 yuan (2024E), 1.13 yuan (2025E), 1.32 yuan (2026E) [5] Growth and Profitability - Revenue growth forecast: 4.7% (2024E), 17.1% (2025E), 14.4% (2026E) [5] - Net profit growth forecast: 2.2% (2024E), 23.3% (2025E), 17.3% (2026E) [5] - Gross margin forecast: 25.9% (2024E), 25.5% (2025E), 25.5% (2026E) [5] - ROE forecast: 15.9% (2024E), 16.9% (2025E), 17.0% (2026E) [5]

宁波兴瑞电子科技股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 | 证券代码：002937 | 证券简称：兴瑞科技 公告编号：2024-107 | | --- | --- | | 债券代码：127090 | 债券简称：兴瑞转债 | 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假 记载、误导性陈述或者重大遗漏。 宁波兴瑞电子科技股份有限公司（以下简称"兴瑞科技"或"公司"）于2024 年8月26日召开第四届董事会第二十五次会议、第四届监事会第二十次会议，于 2024年9月12日召开2024年第二次临时股东大会，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》，同意公司使用不超过20,000万元闲置募集资 金进行现金管理，额度使用期限为自公司股东大会审议通过之日起12个月，在前 述额度和期限内，资金可循环滚动使用。具体内容详见2024年8月27日公司在巨 潮资讯网(www.cninfo.com.cn)上披露的相关公告。 现将公司使用部分暂时闲置募集资金进行现金管理的实施进展情况公告如 下： 截至本公告日，公司已将上述现金管理产品赎回，收回全部本金及投资收益。 二、 本次 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's revenue and profit are under short-term pressure due to a decline in electric vehicle sales from core customers, alongside increased depreciation and foreign exchange losses impacting short-term profitability [2] - The automotive electronics business is expanding with new customer acquisitions, while the smart terminal business is awaiting a recovery in downstream demand [3] - Long-term growth potential in the automotive electronics sector is highlighted, with ongoing efforts to enhance profitability through customer expansion [4] Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 1.48 billion yuan, a year-on-year decrease of 0.6%, and a net profit attributable to shareholders of 190 million yuan, a year-on-year increase of 1.3% [2] - In Q3 2024, the company reported revenue of 470 million yuan, down 8.6% year-on-year and 5.9% quarter-on-quarter, with a net profit of 45 million yuan, down 39.6% year-on-year and 40.2% quarter-on-quarter [2] - The gross margin for Q3 2024 was 24.4%, a decrease of 3.06 percentage points from the previous quarter [2] Earnings Forecast and Valuation - The forecast for net profit attributable to shareholders for 2024-2026 has been adjusted to 270 million, 330 million, and 400 million yuan respectively, with corresponding P/E ratios of 19, 16, and 13 times [4] - The company is positioned as a leading domestic player in automotive embedded plastic components, with a focus on long-term growth in the automotive electronics business [4] Market Data - The closing price is 17.29 yuan, with a market capitalization of approximately 5.15 billion yuan [5] - The price-to-book ratio is 3.47 [5] Basic Data - The company has a net asset value per share of 4.98 yuan and a debt-to-asset ratio of 36.69% [6]

证券代码：002937 证券简称：兴瑞科技 宁波兴瑞电子科技股份有限公司 投资者关系活动记录表 编号：2024-016 | --- | --- | --- | |------------------|---------------------------------|-----------| | | ☑ 特定对象调研 □分析师会议 | | | 投资者关系活动类 | □媒体采访 □业绩说明会 | | | 别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | ☑ 其他（电话会议） | | | | 10 月 29 日 08:30-09:30 | | | | 东吴证券 马天翼、王润芝 | | | | Pinpoint 孙强 | | | | Hel Ved Capital 郭强 | | | | 华泰国际 黄礼悦 | | | | 海通证券 崔冰睿 | | | | 长城证券 邹兰兰 | | | 活动参与人员 | 浙商固收 陈婷婷 | | | | 信达澳亚基金 吴清宇 | | | | 鸿道投资 张家铭 | | | | 西藏东财基金 王陈怡、冯杰波 | | | | 华泰柏瑞 莫倩 | | | | 万家基 ...

| 证券代码：002937 | 证券简称：兴瑞科技 公告编号：2024-102 | | --- | --- | | 债券代码：127090 | 债券简称：兴瑞转债 | 一、董事会会议召开情况 宁波兴瑞电子科技股份有限公司（以下简称"公司"）第四届董事会第二十六 次会议通知于 2024 年 10 月 24 日以电子邮件等方式向公司全体董事发出。会议 于 2024 年 10 月 28 日以通讯表决方式召开。本次会议应参会董事 11 名，实际参 会董事 11 名，本次会议的召集、召开及表决程序符合有关法律、行政法规、部 门规章、规范性文件及《公司章程》的规定。 宁波兴瑞电子科技股份有限公司 第四届董事会第二十六次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 二、董事会会议审议情况 1、审议通过《关于公司<2024 年第三季度报告>的议案》 同意报送公司《2024 年第三季度报告》。 表决结果：有效表决 11 票，同意票 11 票、反对票 0 票、弃权票 0 票。 具体内容详见公司与本公告同日刊登在《证券时报》《上海证券报》和巨潮 资讯网（www.cn ...

Financial Performance - The company's revenue for Q3 2024 was ¥474,249,770.85, representing a decrease of 8.63% compared to the same period last year[2]. - Net profit attributable to shareholders for Q3 2024 was ¥44,819,253.96, down 39.63% year-on-year[2]. - The basic earnings per share for Q3 2024 was ¥0.15, reflecting a decline of 40.00% compared to the previous year[2]. - Total operating revenue for the current period is ¥1,477,902,217.38, a slight decrease of 0.6% compared to ¥1,486,758,542.44 in the previous period[20]. - Net profit for the current period is ¥191,911,815.43, up 1.3% from ¥189,434,487.06 in the previous period[21]. - Operating profit increased to ¥218,055,627.43, compared to ¥216,705,299.19 in the previous period, indicating a growth of 0.6%[21]. Assets and Liabilities - Total assets as of September 30, 2024, were ¥2,467,632,840.19, a decrease of 2.43% from the end of the previous year[2]. - The company's current assets totaled ¥1,456,867,247.30, down from ¥1,534,763,178.46 at the start of the quarter, reflecting a decline of approximately 5%[17]. - Total liabilities decreased to ¥905,414,534.77 from ¥998,482,096.05, reflecting a reduction of approximately 9.3%[18]. - The equity attributable to the owners of the parent company increased to ¥1,562,017,755.85 from ¥1,530,578,612.02, showing a growth of about 2%[19]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥269,535,662.70, a decrease of 2.14% compared to the previous year[2]. - Cash flow from operating activities generated ¥269,535,662.70, slightly down from ¥275,433,188.15 in the previous period[23]. - The company reported a net cash outflow from investment activities of ¥74,278,151.79, an improvement from a net outflow of ¥476,938,464.90 in the previous period[23]. - The net cash flow from financing activities showed a substantial decline to -¥152,506,273.54, down 149.03% from ¥311,032,280.81 in the previous year, primarily due to increased dividends and stock buyback expenses[11]. - The ending balance of cash and cash equivalents reached ¥682,368,715.55, up from ¥626,583,911.25 at the beginning of the period[24]. Investments and Income - The company reported a significant increase in investment income of ¥1,059,146.47, up 360.33% year-on-year[6]. - The net cash flow from investing activities improved significantly, with a reduction in outflows to -¥74,278,151.79 from -¥476,938,464.90, representing an 84.43% decrease[11]. - Cash inflow from investment activities totaled ¥1,303,984,762.71, significantly higher than ¥333,478,240.51 in the previous period[23]. Inventory and Receivables - The company's inventory decreased by ¥66,028,101.36, or 33.59%, indicating a reduction in stock levels during the reporting period[9]. - Accounts receivable financing increased by 53.64%, reaching ¥21,551,644.08 as of September 30, 2024[7]. - Accounts receivable decreased to ¥388,610,613.84 from ¥421,259,026.65, indicating a reduction of approximately 7.8%[17]. - Inventory levels dropped significantly from ¥196,587,744.06 to ¥130,559,642.70, a decrease of about 33.5%[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,638, with the largest shareholder holding 24.27% of the shares[12]. - The company reported a significant increase in treasury stock, rising by ¥33,255,250.03, or 259.71%, due to the second phase of employee stock incentives[9]. Government Subsidies - The company recognized government subsidies amounting to ¥494,460.43 during the quarter, contributing positively to its financial performance[3]. - The company received government subsidies related to assets, contributing to a deferred income increase of ¥2,274,661.61, or 66.98%[9].

| 证券代码：002937 | 证券简称：兴瑞科技 公告编号：2024-105 | | --- | --- | | 债券代码：127090 | 债券简称：兴瑞转债 | 宁波兴瑞电子科技股份有限公司 关于独立董事任期届满离任暨补选独立董事的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假 记载、误导性陈述或者重大遗漏。 彭颖红先生在担任公司独立董事期间，公正独立、勤勉尽责，充分发挥自身 专业能力，在促进公司规范运作、董事会科学决策等方面发挥了重要作用。公司 及董事会对彭颖红先生表示衷心的感谢。 二、补选独立董事情况 为保证公司董事会规范运作，根据《上市公司独立董事管理办法》《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》等相关法 律、法规的规定，经公司第四届董事会提名委员会审核通过，公司于2024年10 月28日召开公司第四届董事会第二十六次会议，审议通过《关于补选公司第四届 董事会独立董事的议案》，同意提名张海涛先生为公司第四届董事会独立董事候 选人（简历附后），并担任公司董事会提名委员会主席职务，任期自公司股东大 会审议通过之日起至第四届董事会届满之日止。 ...

| 证券代码：002937 | 证券简称：兴瑞科技 | 公告编号：2024-106 | | --- | --- | --- | | | 债券简称：兴瑞转债 | | | 债券代码：127090 | | | 宁波兴瑞电子科技股份有限公司 关于召开 2024 年第三次临时股东大会通知的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 宁波兴瑞电子科技股份有限公司（以下简称"公司"或"本公司"）于 2024 年 10 月 28 日召开第四届董事会第二十六次会议，审议通过《关于召开 2024 年第三次临时股东大会的议案》，决定于 2024 年 11 月 21 日召开公司 2024 年第三次临时股东大会。现将具体事项通知如下： 一、召开会议的基本情况 1、股东大会届次：本次会议为公司 2024 年第三次临时股东大会。 2、股东大会的召集人：本次股东大会召集人为董事会。 3、会议召开的合法、合规性：本次股东大会的召集、召开符合有关法律行 政法规、部门规章、规范性文件和《公司章程》的规定。 4、会议召开的日期、时间： 5、会议的召开方式： 本次股东大会采用现场表决与网络投票相 ...