QINGDAO SENTURY TIRE CO.(002984)

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森麒麟(002984):公司业绩短期承压 看好摩洛哥工厂全年放量
Xin Lang Cai Jing· 2025-04-25 06:40
Core Insights - The company reported a revenue of 8.51 billion yuan for 2024, representing a year-on-year increase of 8.5%, and a net profit attributable to shareholders of 2.19 billion yuan, up 59.7% year-on-year [1] - In Q4 2024, the company achieved a revenue of 2.17 billion yuan, with a year-on-year increase of 3.4% but a quarter-on-quarter decrease of 2.6%, and a net profit of 460 million yuan, showing a year-on-year increase of 22.7% but a quarter-on-quarter decrease of 29.0% [1] - The gross margin for Q4 2024 was 25.2%, down 14.3 percentage points from the previous quarter, primarily due to rising raw material costs and a high base effect from tax rebates [1] Production and Sales Performance - In 2024, the company produced 32.23 million tires, a year-on-year increase of 10.2%, with semi-steel tires and all-steel tires producing 31.30 million and 0.9223 million units respectively, both showing increases [2] - Tire sales reached 31.41 million units in 2024, up 7.3% year-on-year, with semi-steel and all-steel tire sales at 30.49 million and 0.9164 million units respectively, the latter showing a significant increase of 15.5% [2] - In Q1 2025, tire sales faced slight pressure, totaling 7.38 million units, down 3.0% year-on-year, with semi-steel and all-steel tire sales declining by 1.6% and 34.6% respectively [2] Raw Material Costs and Profitability - The increase in raw material costs, particularly natural rubber, negatively impacted Q4 2024 profit margins, with the average price of domestic natural rubber reaching 17,016 yuan per ton, up 14.9% quarter-on-quarter [3] - The average procurement price of rubber for the company in the second half of 2024 was 13.23 yuan per kilogram, reflecting a 16.8% increase from the first half [3] - In 2025, the prices of key raw materials in the tire industry showed a decline, which is expected to support profit recovery for the company [3] Future Outlook - The construction of the Morocco factory is progressing steadily, with a construction progress of 89% as of the end of 2024, and the company expects to achieve production ramp-up within the year [3] - Profit forecasts for 2025-2027 estimate net profits attributable to shareholders at 2.07 billion, 2.63 billion, and 2.95 billion yuan respectively, with year-on-year changes of -5.4%, +27.1%, and +12.1% [3] - The corresponding price-to-earnings ratios for these years are projected to be 10, 7, and 7 times, maintaining a strong buy recommendation [3]
森麒麟:董事长秦龙提议2025年中期每10股派发现金红利3元
news flash· 2025-04-25 00:59
Group 1 - The company, Senmikirin (002984), announced a proposal for a cash dividend of RMB 3 per 10 shares (tax included) for the mid-term of 2025 [1] - The proposal was made by the actual controller and chairman, Mr. Qin Long, based on a comprehensive consideration of the company's long-term development confidence, financial outlook, and shareholder interests [1] - The company aims to share the results of its operational development with all shareholders and effectively protect the interests of a wide range of investors [1]
森麒麟(002984) - 关于公司实际控制人、董事长提议持续提高股东回报暨2025年中期现金分红的公告
2025-04-24 23:56
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。 | 证券代码:002984 | 证券简称:森麒麟 | 公告编号:2025-024 | | --- | --- | --- | | 债券代码:127050 | 债券简称:麒麟转债 | | 青岛森麒麟轮胎股份有限公司 关于公司实际控制人、董事长提议持续提高股东回报 暨2025年中期现金分红的公告 特别提示: 森麒麟的中国、泰国、摩洛哥全球产能"黄金三角"布局为公司参与全球化竞争 提供了坚强的后盾。2025 年度,伴随公司摩洛哥智能工厂的大规模放量、持续发力国 际一线车企高端配套,公司将继续充分发挥全球化智能工厂的布局优势,进一步精细 化经营管理,多措并举持续提升品牌价值,努力向国际一线品牌价值不断靠近,在未 来通过品牌价值的提升持续提高产品售价,创造更高的经营价值。 青岛森麒麟轮胎股份有限公司(以下简称"公司"或"森麒麟")董事会于 2025 年 4 月 24 日收到公司实际控制人、董事长秦龙先生出具的《关于提议持续提高股东 回报暨 2025 年中期现金分红的函》。伴随 2025 年度摩洛哥智能工厂的大规模放量、 持 ...
海外市场订单供不应求 森麒麟2024年实现营收净利双高增
Quan Jing Wang· 2025-04-24 02:23
Core Viewpoint - The company reported strong financial performance for 2024, with significant increases in revenue and net profit, driven by high demand for its tire products in both domestic and international markets [1][2]. Financial Performance - The company achieved an operating revenue of 8.511 billion yuan, an increase of 8.53% year-on-year [1] - The net profit attributable to shareholders reached 2.186 billion yuan, up 59.74% from the previous year [1] - The net profit after deducting non-recurring gains and losses was 2.126 billion yuan, reflecting a growth of 62.96% year-on-year [1] - A cash dividend of 2.9 yuan per 10 shares (including tax) is proposed to reward shareholders [1] Production and Sales - The total tire production reached 32.2261 million units, a growth of 10.22% compared to the previous year [2] - The production of semi-steel tires was 31.3038 million units, increasing by 10.24% year-on-year [2] - The sales volume of tires was 31.4087 million units, up 7.34% from the previous year [2] - The sales of semi-steel tires were 30.4923 million units, reflecting a growth of 7.12% [2] - The sales of all-steel tires increased by 15.52%, totaling 916,400 units [2] Global Expansion - The company's global strategy is a key driver of its performance, with significant progress in the Morocco project aimed at producing 12 million high-performance tires annually [2][3] - The Morocco factory is recognized as a benchmark for intelligent manufacturing in the tire industry, enhancing the company's global competitiveness [3] - The company is focusing on expanding its production capacity to meet growing global demand [2][3] Innovation and R&D - The company has enhanced its R&D capabilities, successfully developing various advanced tire technologies, including low rolling resistance tires and specialized tires for electric vehicles [4] - A total of 200 new patents were added, including 5 invention patents [4] - The company is committed to high-end market development, having begun supplying winter tires to Volkswagen for the Tiguan model [4] Marketing and Sales Strategy - The company is expanding its presence in both international and domestic markets, with a focus on digital upgrades to traditional sales models [3] - It aims to build a dual-circulation development pattern, enhancing its market reach [3] - The company is also deepening partnerships in the aviation tire sector, laying the groundwork for future collaborations with airlines [5]
森麒麟(002984):短期业绩承压,关税不确定性仍存
HTSC· 2025-04-24 02:18
Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of 26.91 RMB [7][8]. Core Views - The company reported a revenue of 8.5 billion RMB in 2024, a year-on-year increase of 9%, and a net profit of 2.2 billion RMB, reflecting a significant growth of 60% year-on-year [1]. - Despite short-term performance pressures and uncertainties due to tariffs, the company is expected to enhance its global competitiveness in the long run through new capacity ramp-up and cost advantages [1][3]. - The company has a strong order demand for its high-quality semi-steel tires in overseas markets, with a 12% increase in overseas revenue to 7.6 billion RMB in 2024 [2]. Summary by Sections Financial Performance - In Q1 2025, the company achieved a revenue of 2.1 billion RMB, a decrease of 3% quarter-on-quarter, and a net profit of 360 million RMB, down 28% quarter-on-quarter [1][3]. - The sales volume for semi-steel tires in Q1 2025 was 7.16 million units, a decrease of 2% quarter-on-quarter, while the sales volume for all-steel tires was 210,000 units, down 35% quarter-on-quarter [3]. Profit Forecast and Valuation - The profit forecast for 2025-2027 has been adjusted downwards due to tariff impacts, with expected net profits of 2.1 billion RMB, 2.6 billion RMB, and 2.8 billion RMB respectively [4]. - The estimated EPS for 2025 is 2.07 RMB, with a projected P/E ratio of 13x for 2025, leading to a target price of 26.91 RMB [4]. Market Position and Competitive Advantage - The company is expected to leverage its cost advantages and competitive pricing to expand its market share in the U.S. despite tariff challenges [1][3]. - The company’s new factory in Morocco is projected to contribute significantly to capacity expansion by 2025 [3].
森麒麟(002984) - 内部控制自我评价报告
2025-04-23 13:22
二、内部控制评价结论 根据公司财务报告内部控制重大缺陷的认定情况,于内部控制评价报告基准 日,不存在财务报告内部控制重大缺陷。公司已按照企业内部控制规范体系和相 关规定的要求在所有重大方面保持了有效的财务报告内部控制。 根据公司非财务报告内部控制重大缺陷认定情况,于内部控制评价报告基准 日,公司未发现非财务报告内部控制重大缺陷。 青岛森麒麟轮胎股份有限公司 2024 年度内部控制自我评价报告 青岛森麒麟轮胎股份有限公司全体股东: 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要 求(以下简称"企业内部控制规范体系"),结合青岛森麒麟轮胎股份有限公司 (以下简称"公司")内部控制制度和评价办法,在内部控制日常监督和专项监 督的基础上,我们对公司 2024 年 12 月 31 日(内部控制评价报告基准日)的内 部控制有效性进行了评价。 一、重要声明 按照企业内部控制规范体系的规定,建立健全和有效实施内部控制,评价其 有效性,并如实披露内部控制评价报告是公司董事会的责任。监事会对董事会建 立和实施内部控制进行监督。管理层负责组织领导企业内部控制的日常运行。公 司董事会、监事会及董事、监事、高级管理 ...
森麒麟(002984) - 2024年度监事会工作报告
2025-04-23 13:22
一、2024 年度监事会会议召开情况 2024 年度,公司共召开 9 次监事会,会议的召开和表决程序符合《公 司法》《公司章程》等有关规定。各项会议和经审议通过的议案等具体情况 如下: | 日期 | | | 会议届次 | 审议事项 | | --- | --- | --- | --- | --- | | 2024 年 1 | 月 | 12 | 第 三 日 十九次会议 | 1、关于 2024 年度向金融机构申请融资额度的议案; 届 监 事 会 第 | | | | | | 2、关于 2024 年度为子公司提供担保的议案; | | | | | | 3、关于 2024 年度开展商品期货套期保值业务的议案; | | | | | | 4、关于 2024 年度以自有资金投资理财的议案; | | | | | | 5、关于 2024 年度开展外汇套期保值业务的议案; | | | | | | 6、关于 2024 年度日常关联交易预计的议案。 | | 2024 年 2 | 月 | 29 | 第 三 日 | 1、关于 2023 年年度报告及摘要的议案; 届 监 事 会 第 | | | | | | 2、关于《2023 年度监事会工作报告 ...
森麒麟(002984) - 董事会审计委员会对会计师事务所2024年度履职情况评估及履行监督职责情况的报告
2025-04-23 13:22
青岛森麒麟轮胎股份有限公司 董事会审计委员会对会计师事务所2024年度履职情况评估及 履行监督职责情况的报告 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治理准则》 《国有企业、上市公司选聘会计师事务所管理办法》《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》和《公司章程》等规定和要求,青岛森麒麟 轮胎股份有限公司(以下简称"公司")董事会审计委员会本着勤勉尽责的原则,恪尽 职守,认真履职。现将审计委员会对公司2024年度年审会计师事务所2024年度履职评 估及履行监督职责的情况汇报如下: 一、2024年度会计师事务所基本情况 名称:信永中和会计师事务所(特殊普通合伙) 成立日期:2012年3月2日 组织形式:特殊普通合伙企业 注册地址:北京市东城区朝阳门北大街8号富华大厦A座8层 首席合伙人:谭小青先生 信永中和会计师事务所(特殊普通合伙)(以下简称"信永中和")2023年度业务 收入为40.46亿元,其中,审计业务收入为30.15亿元,证券业务收入为9.96亿元。2023 年度,信永中和上市公司年报审计项目364家,收费总额4.56亿元,涉及的主要行业包 括制造业, ...
森麒麟(002984) - 关于部分募集资金投资项目延期的公告
2025-04-23 13:22
| 证券代码:002984 | 证券简称:森麒麟 | 公告编号:2025-021 | | --- | --- | --- | | 债券代码:127050 | 债券简称:麒麟转债 | | 青岛森麒麟轮胎股份有限公司 经中国证券监督管理委员会(以下简称"中国证监会")《关于核准青岛森 麒麟轮胎股份有限公司首次公开发行股票的批复》(证监许可[2020]1383号)核 准,公司向社会公开发行人民币普通股票(A股)6,900.00万股,每股发行价格 为18.96元,募集资金总额为1,308,240,000.00元,扣除各项发行费用人民币 99,113,005.20元(不含税),实际募集资金净额为人民币1,209,126,994.80元。 2020年9月8日,上述募集资金到位情况业经信永中和会计师事务所(特殊普通合 伙)验证,并出具XYZH/2020JNA50287号《验资报告》。公司对募集资金采取了 专户存储制度,并与专户开户银行、保荐机构签订了募集资金三方监管协议。 二、募集资金使用情况 截至2024年12月31日,公司首次公开发行股票募集资金具体使用情况如下: | 序 | 项目名称 | 募集资金承诺投 | 募集资金 ...
森麒麟(002984) - 2024年度董事会工作报告
2025-04-23 13:22
公司董事会根据《公司法》和《公司章程》赋予的职责,充分发挥董事会 在公司治理体系中的作用,组织召开董事会专门委员会、董事会、股东大会等 会议,及时研究和决策公司重大事项,确保董事会的规范运作和务实高效。 青岛森麒麟轮胎股份有限公司 2024 年度董事会工作报告 2024 年,青岛森麒麟轮胎股份有限公司(以下简称"公司"或"森麒麟") 董事会严格遵守《公司法》《证券法》等法律法规及《公司章程》等相关规章制 度,认真履行股东大会赋予的职责,贯彻落实股东大会的各项决议,不断规范公 司治理,科学决策,全力以赴推进公司各项工作。现就 2024 年度董事会工作情 况报告如下: 一、2024 年公司经营指标完成情况 2024 年度,以森麒麟为代表企业之一的中国轮胎行业整体经营形势全面复 苏。在海外市场,公司高品质、高性能产品在欧美轮胎市场具备高性价比的竞争 优势,订单需求持续处于供不应求状态;在具有高增长潜力的国内市场,亦呈现 出复苏态势。同时,2024 年度伴随着公司泰国二期项目的大规模投产放量,森麒 麟坚持守初心、稳经营、抓管理、促发展,持续保持稳健增长的发展态势,不断 夯实公司品牌参与全球化竞争的能力。2024 年, ...