向特定对象发行股票持续督导之保荐工作总结报告书 申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承销保荐"或"保 荐人"）作为广东创世纪智能装备集团股份有限公司（以下简称"创世纪"、"公 司"、"发行人"）向特定对象发行股票并在创业板上市的保荐人及持续督导机构， 持续督导职责期限至 2023 年 12 月 31 日。截至本总结报告出具日，创世纪首次 公开发行股票持续督导期已届满，保荐人根据《证券发行上市保荐业务管理办法》 等法规和规范性文件相关规定，出具本保荐工作总结报告书。 一、保荐人及保荐代表人承诺 1、保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误导 性陈述或重大遗漏，保荐人及保荐代表人对其真实性、准确性、完整性承担法律 责任。 2、本机构及本人自愿接受中国证监会对保荐总结报告书相关事项进行的任 何质询和调查。 申万宏源证券承销保荐有限责任公司 关于广东创世纪智能装备集团股份有限公司 3、本机构及本人自愿接受中国证监会按照《证券发行上市保荐业务管理办 法》的有关规定采取的监管措施。 | 项目 | 内容 | | --- | --- | | 保荐人名称 | 申万宏源证券承销保荐有限责任公司 ...

机械设备 | 证券研究报告 — 调整盈利预测 2024 年 5 月 6 日 (%) 今年 至今 1 个月 3 个月 12 个月 (45%) (32%) (20%) (7%) 5% 18% May-23Jun-23Jul-23Aug-23Sep-23Oct-23Nov-23Dec-23Jan-24Feb-24Mar-24Apr-24 创世纪 深圳成指 绝对 (7.8) (14.8) 26.9 (14.1) 相对深圳成指 (9.8) (16.8) 12.5 1.4 (8621)20328513 hongsheng.cao@bocichina.com 证券投资咨询业务证书编号：S1300523070002 | --- | --- | --- | --- | --- | --- | |---------------------------------|--------|--------|--------|-------|-------| | | | | | | | | 年结日： 12 月 31 日 | 2022 | 2023 | 2024E | 2025E | 2026E | | 主营收入 ( 人民币 百万 ) | ...

Investment Rating - The report assigns a "Hold" rating for the company, indicating a moderate outlook for the next six months [12][28][55]. Core Insights - The company is a leading player in the CNC machine tool industry, focusing on high-end intelligent equipment with a diverse range of CNC machine products [6][19][40]. - The company's performance has been under pressure in recent years, but there has been a marginal improvement since Q4 2023, driven by a recovery in the 3C consumer electronics sector [9][41][43]. - The report highlights a significant increase in overseas revenue, which grew by 74.8% year-on-year, while domestic revenue decreased by 23.9% [12][41]. - The company is expected to benefit from a new replenishment cycle in the CNC machine tool demand as the industrial inventory phase-out nears its end [28][48]. Summary by Sections 1. Company Overview - The company specializes in high-end intelligent equipment, offering a wide range of CNC machine tools applicable in various sectors including 3C electronics, 5G communications, and aerospace [6][40]. - The company has faced challenges in recent years, with a reported revenue of 3.53 billion yuan in 2023, a decrease of 22.0% year-on-year, and a net profit of 190 million yuan, down 42.0% [12][41]. 2. Financial Performance - In Q4 2023, the company achieved a revenue of 740 million yuan, marking a 15.1% increase year-on-year and a 1.7% increase quarter-on-quarter, with a net profit of 30 million yuan [12][41]. - The overall gross margin for 2023 was 23.3%, a decline of 3.3 percentage points from the previous year, while the net profit margin was 5.8%, down 1.6 percentage points [12][43]. - The company maintained a stable expense ratio of 17.8% in 2023, with a slight increase in R&D expenses supporting product upgrades [11][12]. 3. Earnings Forecast and Valuation - The report forecasts the company's net profit to reach 380 million yuan, 470 million yuan, and 580 million yuan for 2024, 2025, and 2026 respectively, indicating a compound annual growth rate of 44% [12][28]. - The expected gross margins for the CNC machine tool business are projected to improve to 24% in 2024, 24.5% in 2025, and 25% in 2026 [28][29]. - The report compares the company with peers in the CNC machine tool industry, suggesting a favorable growth outlook due to its leading position and diversified product offerings [28][30].

证券代码：300083 证券简称：创世纪 公告编号：2024-029 广东创世纪智能装备集团股份有限公司 关于 2024 年第一季度计提减值准备的公告 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。 广东创世纪智能装备集团股份有限公司（以下简称"公司"）为真实、准确、 客观反映公司的财务状况和经营成果，根据《企业会计准则》《深圳证券交易所 上市公司自律监管指引第2号——创业板上市公司规范运作》等相关规定，公司 本着谨慎性原则，对合并财务报表范围内的各项需要计提减值的资产进行了评估 和分析，判断是否存在可能发生减值的迹象，部分资产存在减值迹象应当计提减 值损失。 根据相关规定，本次计提相关减值准备事项无需提交公司董事会或股东大会 审议，现将有关情况说明如下： 一、计提减值准备的基本情况 根据《企业会计准则第 22 号—金融工具确认和计量》《企业会计准则第 1 号—存货》《企业会计准则第 8 号—资产减值》的相关规定，公司本次计提减值 准备的范围包括应收账款、应收票据、其他应收款等，2024 年第一季度计提减 值准备合计 35,779,022.03 元，明细如下： ...

Financial Performance - The company's revenue for Q1 2024 was ¥856,353,971.45, a decrease of 24.27% compared to ¥1,130,742,420.97 in the same period last year[4] - Net profit attributable to shareholders was ¥59,010,602.20, down 51.46% from ¥121,575,408.00 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥38,342,049.00, reflecting a decline of 64.03% compared to ¥106,597,193.71 in the previous year[4] - The basic earnings per share decreased by 42.86% to ¥0.04 from ¥0.07 in the same period last year[5] - Operating profit fell to ¥72.65 million compared to ¥154.15 million in the previous period, a decline of approximately 52.8%[23] - Net profit decreased to ¥63.17 million from ¥128.12 million, reflecting a drop of around 50.7% year-over-year[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥9,444,021,533.00, an increase of 11.91% from ¥8,439,209,894.85 at the end of the previous year[5] - The total liabilities rose to CNY 4,441,577,725.10 from CNY 3,536,153,797.49, indicating an increase of around 25.6%[19] - The company's equity attributable to shareholders increased to CNY 4,965,917,368.61 from CNY 4,870,999,366.06, showing a growth of about 1.9%[20] - The company's total current liabilities increased to CNY 3,501,176,149.11 from CNY 2,678,844,562.71, marking a rise of about 30.7%[19] Cash Flow - The net cash flow from operating activities improved by 11.68%, amounting to -¥192,276,542.48 compared to -¥217,710,774.97 in the same period last year[9] - Cash flow from operating activities showed a net outflow of ¥192.28 million, improving from a net outflow of ¥217.71 million in the previous period[27] - Cash flow from investing activities resulted in a net outflow of ¥842.99 million, worsening from a net outflow of ¥577.57 million year-over-year[28] - Cash flow from financing activities generated a net inflow of ¥733.12 million, an increase from ¥531.77 million in the previous period[28] Shareholder Information - The company reported a total of 100,750 common shareholders at the end of the reporting period[11] - The top shareholder, Xia Jun, holds 13.48% of the shares, amounting to 227,103,167 shares[11] Government Support - The company received government subsidies totaling ¥14,721,818.47 during the reporting period[7] Inventory and Receivables - Accounts receivable increased to CNY 1,724,515,882.87 from CNY 1,515,279,067.05, marking a growth of approximately 13.8%[17] - The inventory balance increased to CNY 1,463,480,186.88 from CNY 1,295,149,506.28, representing a rise of about 12.9%[17] Financial Adjustments and Standards - The first quarter report for 2024 was not audited[30] - The company will implement new accounting standards starting in 2024[29] - The financial report adjustments will affect relevant items at the beginning of the fiscal year[29] Interest Expenses - The company reported a significant increase in interest expenses to ¥12.30 million from ¥10.03 million, an increase of about 22.6% year-over-year[23]

Investment Rating - The report maintains a "Buy" rating for the company [10] Core Views - The company's performance in 2023 was under pressure due to a sluggish global macroeconomic environment and a slow recovery in the downstream 3C sector. However, with government policies encouraging the replacement of aging industrial machinery and a recovery driven by new technologies in the 3C market, along with an enhanced market position in the new energy sector, the company is expected to experience new growth [9][13] - The report adjusts the profit expectations for 2024-2025 and introduces a profit forecast for 2026, estimating revenues of 39.46 billion, 43.58 billion, and 48.23 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 4.06 billion, 4.99 billion, and 6.17 billion yuan [9][13] Financial Summary - In 2023, the company achieved operating revenue of 35.29 billion yuan, a year-on-year decrease of 22.04%, and a net profit attributable to the parent company of 1.94 billion yuan, down 41.95% year-on-year. The fourth quarter saw a revenue of 7.43 billion yuan, a year-on-year increase of 15.07% [9][12] - The company’s overseas revenue grew significantly, reaching 1.45 billion yuan in 2023, up 74.84% year-on-year, while domestic revenue was 33.84 billion yuan, down 23.85% [9][12] - The main business of CNC machine tools generated revenue of 34.27 billion yuan, accounting for 97.10% of total revenue, with a year-on-year decrease of 22.51% [9][12] - The report highlights a weak demand in the machine tool market, with a decline in orders due to low global manufacturing PMI and insufficient recovery in domestic market demand [9][12] - The company is expected to benefit from national policies supporting the replacement of machines over ten years old, which will release demand for CNC machine upgrades and replacements [9][12] Future Outlook - The 3C business shows significant recovery momentum, with a notable increase in shipments of the company's flagship drilling and tapping machines, which saw over 120% year-on-year growth in the fourth quarter [9][12] - The company is expanding into new energy applications, focusing on lightweight and electric vehicle developments, and has launched a new lightweight gantry machining center as a high-end supporting product for integrated die-casting [9][12]

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company reported a revenue of 3.529 billion yuan in 2023, a year-on-year decrease of 22.04%, and a net profit attributable to the parent company of 194 million yuan, down 41.96% year-on-year. However, in Q4 2024, the company achieved a revenue of 743 million yuan, a year-on-year increase of 15.07%, and a net profit of 32 million yuan, up 131.76% year-on-year, indicating a significant improvement in operational performance [7][8][25] - The recovery in the 3C industry and the continuous breakthrough in the high-end market, along with overseas market expansion, are expected to drive the company's performance in the future [8][28] Summary by Relevant Sections Growth Potential - In 2023, the company experienced a revenue decline but showed signs of recovery in Q4, driven by a resurgence in the 3C industry and AI-driven product innovation. The company's sales of drilling and tapping machines increased by over 120% year-on-year in Q4, contributing significantly to overall performance [8][10] - The establishment of a second business unit targeting high-end products has resulted in initial orders of nearly 50 million yuan, indicating a positive trend in the high-end market [8] Research and Development - The company invested 139 million yuan in R&D in 2023, a year-on-year increase of 18.3%, representing 3.94% of revenue. The focus is on high-end CNC machine tools, with over 60 products under development [9] Profitability - The company's gross margin and net margin for 2023 were 23.25% and 5.79%, respectively, both showing a decline year-on-year. However, Q4 2023 saw a gross margin of 25.44%, with net margin turning positive, indicating improved profitability management [25] - The company has implemented cost control measures, resulting in a significant reduction in operating expenses by 26.65% year-on-year [25] Market Position - The company maintains a leading position in the drilling and tapping machine market, with ongoing expansion into high-end machine tools, enhancing its resilience against market cycles [26][28] - The introduction of the eighth generation of drilling and tapping machines is expected to strengthen the company's market competitiveness [28] Future Outlook - The company is projected to achieve net profits of 421 million yuan, 526 million yuan, and 649 million yuan for 2024, 2025, and 2026, respectively, with corresponding P/E ratios of 23, 18, and 15 [29]

[Table_industryInfo] 证 券 研 究 报 告 82% 86% 90% 94% 98% 102% 2436 2541 2646 2751 2856 2962 21A 22A 23E 24E 25E 净资产(现金)/净负债 净负债(现金)(百万) 净负债/净资产(%) 市场有风险，投资需谨慎。投资者不应将本报告作为作出投资决策的唯一参考因素，亦不应认为本报告可以取代自己的判断。 在决定投资前，如有需要，投资者务必向专业人士咨询并谨慎决策。 数据来源：Wind、国泰君安证券研究 注：除创世纪外其他三家公司归母净利润取自 Wind 一致预期，日期截至 2024/4/22。 本报告仅供国泰君安证券股份有限公司（以下简称"本公司"）的客户使用。本公司不会因接收人收到本报告而视其为本公司 的当然客户。本报告仅在相关法律许可的情况下发放，并仅为提供信息而发放，概不构成任何广告。 国泰君安证券研究所 股 票 研 究 Q4 改善明显，有望充分受益 3C 复苏与设备更新 [Table_MainInfo] [Table_Title] 创世纪(300083) | --- | --- | --- | --- | -- ...

证券研究报告·公司点评报告·自动化设备 2023 年年报点评：业绩短期承压，高端化转 型逐步深化 2024 年 04 月 23 日 | --- | --- | --- | --- | --- | --- | |------------------------------|---------|---------|--------|--------|--------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 4,527 | 3,529 | 4,394 | 5,361 | 6,433 | | 同比（ % ） | (13.97) | (22.04) | 24.50 | 22.00 | 20.00 | | 归母净利润（百万元） | 335.08 | 194.49 | 393.31 | 516.98 | 644.53 | | 同比（ % ） | (32.93) | (41.96) | 102.22 | 31.44 | 24.67 | | EPS- 最新摊薄（元 / 股） | 0.20 | 0.12 | 0 ...

我们审计了广东创世纪智能装备集团股份有限公司(以下简称"创世纪")财务报表, 包括 2023年 12月 31 日的合并及母公司资产负债表,2023年度的合并及母公司利润表、合 并及母公司现金流量表和合并及母公司股东权益变动表,以及财务报表附注。 广 东 创 世 纪 智 能 装 备 集 团 股 份 有 限 公 司 审计报告 天 职 业 字 [2024]27365 号 日 录 审计报告 -- -1 2023 年度财务报表— -6 2023 年度财务报表附注- -18 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn） 报告编码: 审计报告 天职业字[2024]27365 号 广东创世纪智能装备集团股份有限公司全体股东: 一、审计意见 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公允反映了 创世纪 2023年 12月 31 日的合并及母公司财务状况以及 2023年度的合并及母公司经营成果 和现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册会计师对 财务报表审计的责任"部分进一步阐述了我们 ...