证券代码：300035 证券简称：中科电气 公告编号：2024-058 湖南中科电气股份有限公司 关于公司与子公司间提供担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 一、对外担保的审批情况 湖南中科电气股份有限公司（以下简称"公司"、"中科电气"）为更好地实施公 司发展战略，满足公司及子公司湖南中科星城石墨有限公司（以下简称"湖南中科星城"）、 贵州中科星城石墨有限公司（以下简称"贵州中科星城"）、贵安新区中科星城石墨有 限公司（以下简称"贵安新区中科星城"）、云南中科星城石墨有限公司（以下简称"云 南中科星城"）、四川中科星城石墨有限公司（以下简称"四川中科星城"）日常经营 和业务发展资金需要，提高融资效率、降低融资成本，在综合分析公司及子公司的盈利 能力、偿债能力和风险控制能力后，于 2023 年 10 月 25 日第六届董事会第四次会议及 2023 年 11 月 13 日 2023 年第三次临时股东大会审议通过了《关于公司与子公司间提供 担保的议案》，同意公司及上述子公司间提供担保总额不超过 125 亿元，有效期自公司 2023 年第三 ...

%% %% 丨证券研究报告丨 公司研究丨点评报告丨中科电气（300035.SZ） [Table_Title] 中科电气 2024H1 业绩点评： 稼动率带动盈利回暖，一体化支撑远期盈利 报告要点 [Table_Summary] 公司发布 2024H1 业绩报告，公司实现营业收入 22.64 亿元，同比增长 1.32%，实现归母净利 润 0.69 亿元，同比增长 155.44%，实现扣非净利润 0.88 亿元；拆分至 Q2，公司实现归母净 利润 0.46 亿元，环比增长 91.41%，实现扣非净利润 0.56 亿元，环比增长 71.01%。 分析师及联系人 [Table_Author] 邬博华 曹海花 叶之楠 喻亨一 SAC：S0490514040001 SAC：S0490522030001 SAC：S0490520090003 SFC：BQK482 请阅读最后评级说明和重要声明 中科电气（300035.SZ） cjzqdt11111 2024-09-09 公司研究丨点评报告 [Table_Rank]投资评级 买入丨维持 相关研究 [Table_Title 中科电气 2024H1 2] 业绩点评： 稼动率带动盈 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company reported a revenue of 2.264 billion yuan in the first half of 2024, representing a year-on-year growth of 1.32%, and a net profit attributable to shareholders of 69 million yuan, up 155.44% year-on-year [2][4] - The lithium battery anode segment saw a significant increase in shipment volume, with a growth rate exceeding 50% [2] - The company is actively expanding its magnetic and electric equipment business, focusing on high-end electromagnetic metallurgy equipment and international steel markets [2] Financial Summary - The company’s main revenue projections are as follows: 5.373 billion yuan for 2024, 6.889 billion yuan for 2025, and 8.859 billion yuan for 2026 [4] - The projected net profit attributable to shareholders is 262 million yuan for 2024, 424 million yuan for 2025, and 622 million yuan for 2026 [4] - The earnings per share (EPS) are expected to be 0.38 yuan for 2024, 0.62 yuan for 2025, and 0.91 yuan for 2026 [4] - The company’s price-to-earnings (P/E) ratio is projected to be 20.77 for 2024, 12.86 for 2025, and 8.76 for 2026 [4] Operational Highlights - In Q2 2024, the company achieved a revenue of 1.198 billion yuan, a year-on-year increase of 0.39% and a quarter-on-quarter increase of 12.40% [2] - The gross margin and net margin for Q2 were reported at 19.78% and 6.85%, respectively, showing significant improvement [2] - The company has obtained 12 invention patents and has 103 patents under application [2]

Group 1: Company Overview and Performance - In the first half of 2024, the company benefited from the expanding electric vehicle market and the development of the energy storage sector, leading to a significant increase in the shipment of lithium battery anode materials, reaching 92,117.15 tons, a year-on-year increase of 52.86% [2] - The company's net profit attributable to shareholders reached 69.26 million yuan, an increase of 155.44% year-on-year; the net profit after deducting non-recurring gains and losses was 88.41 million yuan, up 180.19% [3] Group 2: Product Demand and Market Position - The demand for the company's anode materials is high, with production capacity utilization at a high level [3] - The product shipment structure is primarily composed of power-type and energy storage-type anode materials, with power-type products seeing increased shipments due to growing downstream demand [3] - The company has maintained a technological lead in fast-charging anode materials, with significant increases in shipment volumes following the launch of related vehicle models [3] Group 3: Production Capacity and Development - The company is steadily advancing the construction of a 100,000-ton integrated anode material project in Qujing, Yunnan, with the first phase expected to be completed by the fourth quarter of this year [4] - The company is also planning the construction of an anode material production base in Morocco [4] Group 4: Competitive Strategy - The company faces structural and cyclical overcapacity and intensified competition in the anode materials industry, but it aims to enhance competitiveness through integrated production capacity, talent reserves, and increased R&D investment [4] - The company is focusing on expanding its market share globally, optimizing customer structure, and enhancing cooperation with upstream and downstream partners [4] Group 5: Magnetic Equipment Business - The magnetic equipment business remains a traditional core area for the company, which is actively developing high-end electromagnetic metallurgy equipment and expanding into international steel markets [4] - The synergy between the magnetic equipment and lithium battery anode businesses is being leveraged to support the construction of new production lines for anode materials [4]

证券研究报告 非金融公司|公司点评|中科电气（300035） 负极业务逐季企稳，产销放量助力业绩 同比改善 请务必阅读报告末页的重要声明 glzqdatemark1 2024年08月31日 证券研究报告 |报告要点 公司发布 2024 年中报，2024H1 实现营收 22.64 亿元，同比+1.32%；实现归母净利润 0.69 亿 元，同比+155.44%。Q2 单季度，公司实现营收 11.98 亿元，同比+0.39%，环比+12.40%；实现 归母净利润 0.45 亿元，同比+338.07%，环比+91.41%。 |分析师及联系人 贺朝晖 SAC：S0590521100002 请务必阅读报告末页的重要声明 1 / 5 非金融公司|公司点评 glzqdatemark2 2024年08月31日 中科电气(300035) 负极业务逐季企稳，产销放量助力业绩同比 改善 | --- | --- | --- | |-------|--------------------|---------------| | | | | | | 行 业： 投资评级： | 电力设备/电池 | | | 当前价格： | 8.07 元 | | ...

Investment Rating - The report maintains a "Recommend" rating for the company, citing its overseas expansion and technological advancements as key drivers for future growth [1][3] Core Views - The company's revenue for the first half of 2024 reached 2.264 billion yuan, a year-on-year increase of 1.32%, with net profit attributable to the parent company at 69 million yuan, a significant increase of 155.44% year-on-year [1] - The gross margin of the anode materials segment improved to 16.23% in H1 2024, up 9.07 percentage points year-on-year, driven by increased shipments and cost reductions [1] - The company secured a new order from a well-known international automaker's battery subsidiary, further solidifying its position in the global market [1] - The company is accelerating its overseas expansion with a planned 100,000-ton anode material production base in Morocco, with a total investment of up to 5 billion yuan [1] - The magnetic and electrical equipment business achieved revenue of 185 million yuan in H1 2024, up 11.06% year-on-year, showing synergy with the lithium battery anode business [1] Financial Forecasts - Revenue is expected to grow to 5.11 billion yuan in 2024, 6.22 billion yuan in 2025, and 7.52 billion yuan in 2026, with year-on-year growth rates of 4.1%, 21.8%, and 20.8% respectively [1][4] - Net profit attributable to the parent company is projected to reach 188 million yuan in 2024, 328 million yuan in 2025, and 454 million yuan in 2026, with growth rates of 350.9%, 74.5%, and 38.4% respectively [1][4] - The company's PE ratio is expected to decline from 29x in 2024 to 12x in 2026, reflecting improved profitability [1][4] Business Segments - The lithium battery anode materials segment achieved revenue of 2.079 billion yuan in H1 2024, with shipments of 92,100 tons, up 52.86% year-on-year [1] - The company's self-designed graphite furnace technology offers advantages in energy efficiency, automation, and environmental friendliness, giving it a competitive edge in the domestic market [1] - The magnetic and electrical equipment segment is developing specialized equipment for lithium battery production, including automation control systems and next-generation graphite furnaces [1] Overseas Expansion - The company plans to establish a wholly-owned subsidiary in Hong Kong or overseas to indirectly invest in a Moroccan project, aiming to build a 100,000-ton anode material production base [1] - The project will be constructed in two phases, each with a capacity of 50,000 tons per year, and is expected to take 24 months per phase [1] - This expansion is expected to enhance the company's global presence and improve profitability by meeting the high-quality demands of international customers [1]

华泰联合证券有限责任公司 关于湖南中科电气股份有限公司 2024 年半年度跟踪报告 | 保荐人名称：华泰联合证券有限责任公司 | 被保荐公司简称：中科电气 | | --- | --- | | 保荐代表人姓名：董瑞超 | 联系电话：0755-82492010 | | 保荐代表人姓名：杨逸飞 | 联系电话：0755-82492010 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 0 次 | | 2．督导公司建立健全并有效执行规章制度的情况 | | | （1）是否督导公司建立健全规章制度（包括但不限于防 止关联方占用公司资源的制度、募集资金管理制度、 | 是 | | 内控制度、内部审计制度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 每月 1 次 | | （2）公司募集资金项目进展是否与信息披露文件一 致 | 是 | | 4.公司治理督导情况 ...

关于本报告 | 报告范围 | 编制依据 | 内容选择 | 数据说明 | 发布方式 | | --- | --- | --- | --- | --- | | 本报告是湖南中科电气 | 本报告参考全球报告倡 | 报告内容在选取过程中， | 本报告所披露的数据来 | 本报告以电子版形式供您阅 | | 股 份 有 限 公 司 （ 以 下 简 称 | 议组织GRI《可持续发展报告 | 公司遵 循GRI标 准 的关 键性、 | 源于中科电气及控股子公司 | 读，您可访问公司官网 | | "中科电气"、"公司"） | 编写标准》、《深圳证券交易 | 完整性、响应性原则，从经济、 | 实际运行的原始数据、年度 | https://www.cseco.cn或巨 潮 | | 发布的第一份ESG报告，报 | 所上市公司自律监管指引第17 | 社会和环境三个方面进行阐述， | 财务数据、内部相关统计报 | 资 讯 网 | | 告 信 息 和 数 据 与 中 科 电 气 | 号--可持续发展报告(试行)》、 | 重点报告了公司在 ESG治理、 | 表、第三方问卷调查、第三 | http://www.cninfo.com.cn在线 | | ...

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 2,263,698,210.59, representing a 1.32% increase compared to CNY 2,234,308,115.17 in the same period last year[11]. - The net profit attributable to shareholders was CNY 69,260,042.60, a significant turnaround from a loss of CNY 124,921,745.37, marking a 155.44% improvement[11]. - The net profit after deducting non-recurring gains and losses was CNY 88,410,911.96, compared to a loss of CNY 110,994,217.99, reflecting a 180.19% increase[11]. - The basic earnings per share increased to CNY 0.0969 from a loss of CNY 0.1727, showing a 156.11% improvement[11]. - The total assets at the end of the reporting period were CNY 11,125,310,811.10, up 7.26% from CNY 10,372,599,212.97 at the end of the previous year[11]. - The net assets attributable to shareholders decreased to CNY 4,439,850,618.47, down 5.42% from CNY 4,694,301,626.28[11]. - The company reported a net cash flow from operating activities of CNY -111,844,020.90, a decline of 335.90% compared to CNY -25,657,940.62 in the previous year[11]. - The weighted average return on net assets was 1.49%, an increase of 4.09 percentage points from -2.60% in the same period last year[11]. Revenue Segments - The lithium battery anode materials segment reported a revenue of 2,078.70 million CNY, with a year-on-year growth of 0.53%[19]. - The magnetic equipment segment achieved a revenue of 185.00 million CNY, showing a year-on-year increase of 11.06%[19]. - The company reported a VAT refund of ¥14,330,220.20, which is closely related to its production and operations[15]. - The company’s total revenue for the first half of 2024 reached CNY 2,077,911,867.07, representing a year-on-year increase of 0.52%[23]. Research and Development - The company obtained 12 invention patents during the reporting period, with an additional 103 patents under application[19]. - Research and development investment decreased by 35.51% to approximately ¥88 million, reflecting a reduction in direct R&D expenditures[22]. - The company has a strong focus on optimizing product structure and expanding product lines in response to customer needs[16]. Market Position and Strategy - The company has over 20 years of experience in the research and production of lithium-ion battery anode materials, establishing a strong technical and customer resource advantage[16]. - The company's lithium battery anode business has a leading position in domestic graphite processing technology, with advantages in energy consumption and automation[16]. - The company plans to enhance its overseas market expansion and accelerate the construction of integrated anode material projects[18]. - The company is actively developing new products in response to market demands and is conducting forward-looking research in the field of new energy materials[54]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[61]. - The company has obtained environmental impact assessment approvals and pollutant discharge permits for its subsidiaries, with validity periods extending to 2028 and 2029[62]. - The company invested a total of 11,412,798.30 CNY in environmental governance and protection across various locations[65]. - The company donated a total of 100,000 CNY to social welfare projects in the first half of 2024[66]. Financial Management and Investments - The company achieved a net increase in cash and cash equivalents of approximately ¥30.96 million, a 106.43% improvement from a decrease of -¥474.21 million in the prior year[22]. - The company reported a fair value loss of CNY 13,066,730.28 on financial assets measured at fair value, with a total investment amount of CNY 154,253,683.00[32]. - The company has not engaged in any entrusted financial management during the reporting period[39]. - The company has a total of 1.2 billion yuan in approved external guarantees, with several guarantees still outstanding[81]. Shareholder Information - The total number of shares after the recent changes is 723,310,765, with 85.89% being unrestricted shares[91]. - The company repurchased a total of 37,884,094 shares, accounting for 5.24% of the total share capital, with a total transaction amount of RMB 351,984,228.58[92]. - Major shareholders include Yu Xin with 11.15% and Li Aiwu with 4.20% of the shares[95]. - The company plans to use repurchased shares for cancellation and reduction of registered capital instead of employee stock ownership plans[92]. Risk Management - The company has established a comprehensive training and reporting system to enhance operational risk management[41]. - The company is exposed to raw material price volatility, particularly for petroleum coke and needle coke, which could impact its operating performance[54]. - The company is closely monitoring exchange rate fluctuations to manage foreign currency risks associated with international transactions[53]. Compliance and Governance - The semi-annual financial report has not been audited[102]. - The company has not experienced any non-compliance issues regarding external guarantees during the reporting period[67]. - There were no major asset or equity sales during the reporting period, reflecting stability in the company's asset management[44].

二、对外担保的进展情况 近日，湖南中科星城与广发银行股份有限公司岳阳分行（以下简称"广发银行"） 签订了《最高额保证合同》；公司与兴业银行股份有限公司长沙分行（以下简称"兴业 银行"）签订了《最高额保证合同》，与广发银行股份有限公司岳阳分行（以下简称"广 发银行"）签订了《最高额保证合同》，担保详情如下： 1 证券代码：300035 证券简称：中科电气 公告编号：2024-053 湖南中科电气股份有限公司 关于公司与子公司间提供担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 一、对外担保的审批情况 湖南中科电气股份有限公司（以下简称"公司"、"中科电气"）为更好地实施公 司发展战略，满足公司及子公司湖南中科星城石墨有限公司（以下简称"湖南中科星城"）、 贵州中科星城石墨有限公司（以下简称"贵州中科星城"）、贵安新区中科星城石墨有 限公司（以下简称"贵安新区中科星城"）、云南中科星城石墨有限公司（以下简称"云 南中科星城"）、四川中科星城石墨有限公司（以下简称"四川中科星城"）日常经营 和业务发展资金需要，提高融资效率、降低融资成本，在综合分析公 ...