证券代码：300008 证券简称：天海防务 公告编号：2025-047 天海融合防务装备技术股份有限公司 关于全资子公司设立子公司并完成工商注册登记的公告 第 1 页 证券代码：300008 证券简称：天海防务 公告编号：2025-047 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、概述 近日，根据天海融合防务装备技术股份有限公司（以下简称"公司"）经营需要，为提升公 司综合竞争力，公司的全资子公司江苏大津重工有限公司（以下简称"大津重工"）分别设立了 子公司大津重工（镇江）有限公司（以下简称"大津镇江"）、镇江大津国际贸易有限公司（以 下简称"大津国贸"）。具体情况如下： 1、大津重工以自有资金 300 万元人民币设立了大津镇江，持股比例为 100%。大津镇江已 完成工商注册登记，并取得了镇江市润州区市场监督管理局（高新区）下发的《营业执照》。 2、大津重工以自有资金 300 万元人民币设立了大津国贸，持股比例为 100%。大津国贸已 完成工商注册登记，并取得了扬中市政务服务管理办公室下发的《营业执照》。 根据《深圳证券交易所创业板股票上市规则》、《 ...

证券代码：300008 证券简称：天海防务 公告编号：2025-046 天海融合防务装备技术股份有限公司 关于为全资子公司提供担保的公告 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。 一、概述 （一）基本情况 鉴于天海融合防务装备技术股份有限公司（以下简称"天海防务"或"公司"）的全资子 公司江苏大津重工有限公司（以下简称"大津重工"）向中国银行股份有限公司扬中支行申请 的综合授信即将届满，现拟继续向中国银行股份有限公司扬中支行申请额度不超过（含）15,000 万元人民币的综合授信，期限不超过（含）1 年，主要用于补充生产、经营中的流动资金。公 司将为上述综合授信中的贷款额度及保函额度提供最高本金余额不超过（含）10,000 万元人民 币的连带责任保证，并签署《最高额保证合同》，具体内容以实际签署的保证合同为准。本次 申请综合授信及签署《最高额保证合同》均为对原综合授信及保证合同的置换，担保额度不变。 （二）审批情况 公司于 2025 年 4 月 25 日召开了第六届董事会第十一次会议，审议通过了《关于 2025 年 度对外担保计划的议案》，并已提交公司股东 ...

证券代码：300008 证券简称：天海防务 公告编号：2025-045 特别提示： 1、本次股东大会出现否决议案的情形，提案 9《关于 2025 年度日常关联交易计划的议 案》未获表决通过。 2、本次股东大会未涉及变更前次股东大会决议的情形。 一、会议召开和出席情况 （一）会议召开情况 1、会议时间 （1）现场会议召开时间：2025 年 5 月 20 日（星期二）14:30。 （2）网络投票时间：2025 年 5 月 20 日。 天海融合防务装备技术股份有限公司 2024年年度股东大会决议公告 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。 其中，通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 5 月 20 日上午 9:15-9： 25，9:30-11:30 和 13:00-15:00；通过互联网系统投票的具体时间为 2025 年 5 月 20 日上午 9:15 至当日下午 3:00 期间的任意时间。 2、召开地点：上海市松江区莘砖公路 518 号 10 号楼 8 楼学术交流室 3、召开方式：本次股东大会采取现场投票、网络投票相结合的方式召开 4 ...

上海市锦天城律师事务所 关于天海融合防务装备技术股份有限公司 2024 年年度股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于天海融合防务装备技术股份有限公司 2024 年年度股东大会的 法律意见书 致：天海融合防务装备技术股份有限公司 根据《中华人民共和国证券法（2019 年修订）》（以下简称"《证券法》"） 《中华人民共和国公司法（2023 年修订）》（以下简称"《公司法》"）和中 国证券监督管理委员会《上市公司股东会规则》等法律、法规和其他有关规范性 文件及的要求，上海市锦天城律师事务所（以下简称"本所"）接受天海融合防 务装备技术股份有限公司（以下简称"天海防务"或"公司"）的委托，指派律 师参加公司 2024 年年度股东大会（以下简称"本次股东大会"或"本次会议"） 并出具本法律意见书。 为出具本法律意见书，本所声明如下： 1、本所律师仅对本次股东大会的召集程序、召开程序、出席会议人员资格、 召集人资格、 ...

Financial Performance - The company's annual revenue for 2024 was CNY 394,532.18 million, representing a year-on-year increase of 9.4% [2] - The net profit attributable to shareholders for 2024 was CNY 13,854.55 million, showing a year-on-year growth of 36.40% [3] - In Q1 2025, the company achieved a revenue of CNY 74,658.69 million, up by 10.86% compared to the previous year [4] - The net profit attributable to shareholders in Q1 2025 was CNY 4,079.24 million, reflecting a year-on-year increase of 32.32% [4] Industry Outlook - The shipbuilding market is currently in a relatively prosperous cycle, with a clear demand for fleet renewal after 15 years since the last peak [5] - International Maritime Organization's guidelines on low-carbon emissions are expected to drive shipowners to adjust their fleet structures towards cleaner energy vessels [5] - Despite uncertainties from U.S. tariffs and investigations, the global supply chain is stable, and shipping remains irreplaceable by other transport modes [5] - The emphasis on deep-sea technology in government reports indicates a growing focus on deep-sea development, which aligns with the company's expertise in marine engineering vessels [5] - Future demand for new ship types may arise from breakthroughs in deep-sea aquaculture, floating wind power technology, and traditional marine engineering vessels [5]

Group 1 - The terahertz concept sector declined by 2.14%, ranking among the top declines in concept sectors, with companies like Four Creation Electronics, Shaanxi Huada, and Tianyin Electromechanical leading the losses [1] - The top gainers in concept sectors included the China-Korea Free Trade Zone with a gain of 3.03%, while the China Shipbuilding System saw a decline of 3.40% [2] - The terahertz concept sector experienced a net outflow of 654 million yuan, with 19 stocks seeing net outflows, and 8 stocks having outflows exceeding 50 million yuan, led by ZTE Corporation with a net outflow of 297 million yuan [2] Group 2 - The top stocks with net outflows in the terahertz concept included ZTE Corporation (-1.18%), Leike Defense (-2.04%), and Tianhai Defense (-4.17%) [3] - The top stocks with net inflows included Aerospace Electronics with a net inflow of 589 million yuan, followed by Juguang Technology and Changfei Optical Fiber with inflows of 1.003 million yuan and 775,350 yuan respectively [3]

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 7.15 [7][8]. Core Views - The company reported a revenue of RMB 3.945 billion for 2024, representing a year-on-year increase of 9.40%, and a net profit attributable to shareholders of RMB 138.55 million, up 36.40% year-on-year [1][6]. - In Q1 2025, the company achieved a revenue of RMB 747 million, a 10.86% increase year-on-year, and a net profit of RMB 40.79 million, reflecting a 32.32% year-on-year growth [1][6]. - The increase in gross margin to 14.81% in 2024, up 3.76 percentage points year-on-year, is attributed to a higher proportion of revenue from transportation vessels [2][3]. Summary by Sections Financial Performance - The company’s gross margin improved to 19.48% in Q1 2025, a slight increase of 0.04 percentage points year-on-year [2]. - The company delivered 16 transportation vessels and 5 offshore engineering vessels in 2023, with plans to deliver 22 transportation vessels and 5 offshore vessels in 2024 [2]. - The total order backlog for marine engineering design business is RMB 1.39 billion, with construction business orders increasing by 29.37% year-on-year [2]. Market Outlook - The development of "Deep Sea Technology" is expected to enhance the company's order volume, supported by government initiatives to promote the marine economy [3]. - The International Maritime Organization's (IMO) mid-term agreement on shipping carbon emissions is anticipated to boost demand for green vessels, where the company holds a leading position [3]. Profit Forecast and Valuation - The net profit forecasts for 2025 and 2026 have been adjusted downwards to RMB 189.87 million and RMB 248.54 million, respectively, due to uncertainties in revenue recognition for high-margin businesses [4]. - The company is assigned a PE ratio of 65 times for 2025, reflecting its leadership in ship design and development [4].

Group 1: Business Overview - The company's primary business is ship design and construction, with marine engineering accounting for over 90% of revenue [2] - In 2024, the defense equipment business revenue reached 1.8 billion RMB, a 170% increase compared to 2023 [2] - The strategic focus includes special unmanned vessels, intelligent ship systems, and underwater security [3] Group 2: Profitability and Financial Outlook - The gross margin for the defense equipment business in 2024 is projected to be negative due to adjustments on contracts from 2015-2019, affecting approximately 28 million RMB in revenue [4] - Excluding this adjustment, the gross margin would be around 7.2% [4] - The profitability of special vessels is linked to contract margins and production volume, with higher production leading to lower fixed cost allocation [5] Group 3: Product and Market Development - The defense equipment business includes special defense vessels, intelligent systems, and underwater security systems [6] - The company has signed over 40 contracts for 5,200-ton multi-purpose bulk carriers and nearly 20 contracts for 5,900-ton multi-purpose bulk carriers in 2024 [7] - The shipbuilding market is expected to remain favorable, driven by fleet renewal needs and low-carbon policies [8] Group 4: Future Prospects - The government’s focus on deep-sea technology is expected to enhance demand for deep-sea engineering vessels [8] - Future innovations in deep-sea farming and floating wind power technology may create new vessel demands [8] - Traditional marine engineering vessels will continue to be essential for deep-sea resource development [8]

证券代码：300008 证券简称：天海防务 公告编号：2025-044 天海融合防务装备技术股份有限公司 关于为全资子公司提供担保的公告 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。 因经营需要，近日，天海融合防务装备技术股份有限公司（以下简称"天海防务"或"公 司"）拟为全资子公司江苏大津重工有限公司（以下简称"大津重工"）出具《公司保函》， 以及为全资子公司大津重工、江苏金海运科技有限公司（以下简称"金海运"）申请银行综合 授信提供担保。具体情况如下： 一、概述 （一）基本情况 1、鉴于大津重工承接了 2 艘 40,400 吨散货船（船体号：DJHC6115、DJHC6116）建造项 目。公司拟为大津重工就上述订单的第一期分期付款提供担保，单艘船担保金额不超过 750 万美元，合计担保金额不超过 1,500 万美元，折合人民币约不超过 10,810.95 万元（以 2025 年 5 月 8 日汇率折算，实际担保金额将以担保发生时汇率进行折算），并出具 2 份《公司保函》。 2、鉴于大津重工向中国农业银行股份有限公司扬中市支行（以下简称"农业银行"）申 请 ...