证券代码：300354 证券简称：东华测试 公告编号：2024-054 江苏东华测试技术股份有限公司 关于控股子公司完成工商变更登记暨股权转让终止的公告 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。 江苏东华测试技术股份有限公司（以下简称"公司"）于近日收到控股子公 司上海东昊智慧氢能科技有限公司（已更名为"上海东昊数字信息技术有限公司"） 的通知，其对公司名称、经营范围等进行了变更，并已完成相关工商变更登记手 续，取得由中国（上海）自由贸易试验区临港新片区市场监督管理局换发的《营 业执照》，具体情况如下： | 变更事项 | 变更前 | 变更后 | | --- | --- | --- | | 企业名称 | 上海东昊智慧氢能科技有限公司 | 上海东昊数字信息技术有限公司 | | 经营范围 | | 一般项目：信息技术咨询服务；信息系 | | | 一般项目：技术服务、技术开发、 | 统集成服务；物联网技术研发；物联网 | | | 技术咨询、技术交流、技术转让、 | 技术服务；工业互联网数据服务；新兴 | | | 技术推广；新兴能源技术研发；在 | 能源技术研发；在 ...

Investment Rating - The investment rating for the company is "Buy" [5] Core Views - The company has shown steady revenue growth and continuous improvement in profitability, with a projected revenue of 5.4 billion, 7.1 billion, and 9.0 billion yuan for 2024-2026, and a net profit of 1.4 billion, 1.9 billion, and 2.3 billion yuan respectively, indicating a CAGR of 27.18% [2][7] - The company is a leader in structural mechanics performance testing instruments, and the development of torque sensors is expected to provide new growth opportunities [2][7] Summary by Sections Financial Performance - In H1 2024, the company achieved revenue of 276 million yuan, a year-on-year increase of 37.75%, and a net profit of 74 million yuan, up 65.11% year-on-year [7] - For Q2 2024, revenue was 172 million yuan, with a year-on-year growth of 33.60%, and net profit was 47 million yuan, increasing by 35.30% year-on-year [7] - The company's gross margin and net margin for H1 2024 were 66% and 26.85% respectively, with the net margin showing a significant increase of 4.38 percentage points year-on-year [7] Product Development - The company is actively promoting its electrochemical workstations, which have shown high growth, with revenues of 260 million yuan in H1 2024, a year-on-year increase of 135.51% [7] - The company is investing in the research and development of various sensors, including six-component force sensors, which are expected to enhance precision and open new application areas [7] Market Outlook - The macroeconomic environment in 2024 is expected to recover slowly, but the company anticipates a normalization of special industry orders and additional demand from sensors [2][7] - The projected earnings per share (EPS) for 2024-2026 are 1.04, 1.34, and 1.68 yuan per share respectively [2][7]

Investment Rating - The report maintains a "Buy" rating for the company [3][4]. Core Views - The company's H1 2024 performance met expectations, with steady growth in structural mechanics testing systems and PHM business, and rapid growth in electrochemical workstations, indicating a potential for continued growth [2][3]. - The EPS estimates for 2024-2026 have been raised to 1.23, 1.62, and 2.05 CNY respectively, reflecting an upward adjustment due to the strong performance and market conditions [3]. - The target price has been adjusted down to 35.67 CNY, based on a 29x PE ratio for 2024, which is aligned with industry standards [3][4]. Financial Performance Summary - In H1 2024, the company achieved revenue of 276 million CNY, a year-on-year increase of 37.75%, and a net profit attributable to shareholders of 74 million CNY, up 65.11% year-on-year [3]. - Q2 2024 revenue was 172 million CNY, reflecting a 33.60% year-on-year growth, with a net profit of 47 million CNY, up 35.30% year-on-year [3]. - The structural mechanics performance testing analysis system generated revenue of 190 million CNY in H1 2024, a 41.13% increase year-on-year, while the electrochemical workstation revenue surged by 135.51% to 26 million CNY [3]. Product and Market Insights - The structural mechanics testing system is a domestic leader, benefiting from rapid localization and government support for scientific instrument development [3]. - The PHM system for structural safety and equipment fault prediction generated 40 million CNY in revenue, a 15.78% increase year-on-year, indicating a strong trend towards domestic substitution [3]. - The humanoid robot force sensor business is expected to drive new growth, leveraging the company's leading technology in mechanical performance testing sensors [3].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 29.55 CNY [2][4] Core Views - The company achieved significant growth in H1 2024, with revenue reaching 276 million CNY, a 37.75% YoY increase, and net profit attributable to shareholders of 74 million CNY, up 65.11% YoY [1] - The structural mechanics testing and analysis system remains the core business, contributing 190 million CNY in revenue, a 36.24% YoY increase, with a high gross margin of 66.32% [1] - The PHM (Prognostics and Health Management) system and electrochemical workstation businesses are emerging as new growth drivers, with the latter experiencing a 135.51% YoY revenue increase [1] - The company is well-positioned to benefit from domestic substitution policies and increasing demand in both military and civilian sectors [1] Financial Performance - Revenue for 2024E is projected at 1,241 million CNY, with net profit attributable to shareholders of 351 million CNY [3] - EPS for 2024E is forecasted at 1.46 CNY, with a P/E ratio of 20x [2][3] - ROE (Return on Equity) is expected to reach 23.79% in 2024E, up from 13.21% in 2023 [3] - Gross margin is projected to remain stable at around 66% from 2024E to 2026E [6] Business Segments - Structural mechanics testing and analysis system: Core business with strong growth potential, benefiting from military and academic clients [1] - PHM system: Expanding into civilian applications such as water engineering, port machinery, and wind power, with a gross margin of 65.45% [1] - Electrochemical workstation: Rapid growth in academic markets, with revenue reaching 26 million CNY in H1 2024, up 135.51% YoY [1] - Customized measurement and control analysis system: Emerging business with potential to compete with international players like MTS and Moog [1] Valuation and Projections - The company's market capitalization stands at 4.087 billion CNY, with a 3-month turnover rate of 86.09% [4] - Revenue growth is expected to maintain a CAGR of around 30% from 2024E to 2026E [3] - The P/B ratio is projected to decline from 4.8x in 2024E to 3.0x in 2026E, indicating improving valuation metrics [3][6] - EV/EBITDA is forecasted to decrease from 17.2x in 2024E to 9.3x in 2026E, reflecting strong earnings growth [6]

Group 1: Financial Performance - The company's PHM equipment experienced a year-on-year growth of approximately 16% in the first half of the year [3] - The structural mechanics performance testing segment saw a 36% increase, attributed to macroeconomic demand and enhanced user experience [3] - The electrochemical workstation's revenue more than doubled, primarily driven by expansion in the higher education sector [3] Group 2: Market Segmentation - Military applications account for over 50% of the company's customer base, mainly from military research departments [4] - The company is focusing on civil PHM in sectors such as port machinery, metallurgy, petrochemicals, water services, and wind power [3] Group 3: Business Development - The company has signed contracts worth approximately 150 million yuan that are yet to be fulfilled [4] - Accounts receivable increased to over 400 million yuan in the first half of the year, influenced by rapid revenue growth and internal process delays [4] - The overall gross margin for the main business remained stable, with pressures noted in the civil sector due to a sluggish macro environment [4] Group 4: Product Innovation - The company is enhancing its sensor business by focusing on high-precision and stable sensors for structural mechanics and developing intelligent sensors for civil and industrial applications [4] - The company aims to balance market expansion with profit pursuit through innovation, product differentiation, and improved adaptability [4]

江苏东华测试技术股份有限公司 证券代码：300354 证券简称：东华测试 公告编号：2024-053 关于转让控股子公司部分股权的公告 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。 2024年8月16日，江苏东华测试技术股份有限公司（以下简称"公司"）召 开第六届董事会第二次会议和第六届监事会第二次会议，审议通过《关于转让控 股子公司部分股权的议案》。现将有关事项公告如下： 一、交易概述 2024年8月16日，公司召开第六届董事会第二次会议和第六届监事会第二次 会议，审议通过《关于转让控股子公司部分股权的议案》，同意公司将持有的上 海东昊智慧氢能科技有限公司（以下简称"东昊智慧氢能"）10%股权（对应注 册资本认缴额人民币50万元，已全额实缴）转让给徐建康，股权转让价格为人民 币50万元。并同意授权管理层及其转授权人士处理与本次交易相关的所有事宜， 包括但不限于：协商、执行、签署所有与本次交易的所有合同和文件；办理与本 次交易相关的其他事项。 根据《深圳证券交易所创业板股票上市规则》《公司章程》等有关规定，本 次交易在董事会审批权限范围内，无需提交股东大会审 ...

证券代码：300354 证券简称：东华测试 公告编号：2024-051 江苏东华测试技术股份有限公司 第六届董事会第二次会议决议公告 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。 一、董事会会议召开情况 江苏东华测试技术股份有限公司（以下简称"公司"）于2024年8月16日在 公司会议室以现场结合通讯方式召开了第六届董事会第二次会议，会议通知及相 关资料于2024年8月6日通过邮件方式发出。本次董事会会议应出席董事7名，实 际出席董事7名。会议由董事长刘士钢主持，公司监事和有关高级管理人员列席 了会议。会议的召集及召开程序符合《中华人民共和国公司法》及《公司章程》 的规定。 二、董事会会议审议情况 经与会董事认真审议与表决，形成了以下决议： 1、审议通过《关于公司2024年半年度报告全文及摘要的议案》 全体董事一致认为《公司2024年半年度报告全文及摘要》的编制程序、半年 报内容、格式符合相关文件的规定；编制期间，未有泄密及其他违反法律法规、 《公司章程》或损害公司利益的行为发生；公司的财务报告真实、准确、完整地 反映了公司的财务状况和经营成果，不存在任何虚 ...

江苏东华测试技术股份有限公司 | 非经营性资金占用 | 资金占用方 | 占用方与上市公 | 上市公司核算 | 2024 年期初 | 2024 年半年度占 | 2024 年半年度占 | 2024 年半年 | 2024 | 年半年 | 占用形 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 用累计发生金额 | 用资金的利息 | 度偿还累计 | | 度期末占用 | | | | | 名称 | 司的关联关系 | 的会计科目 | 占用资金余额 | （不含利息） | （如有） | 发生金额 | | 资金余额 | 成原因 | | | 控股股东、实际控制人及其附属企业 | | | | | | | | | | | | | 小计 | - | - | - | | | | | | | | - | | 前控股股东、实际控制人及其附属企业 | | | | | | | | | | | | | 小计 | - | - | - | | | | | | | | - | | 其他关联方及附属企业 | | | | ...

一、监事会会议召开情况 江苏东华测试技术股份有限公司（以下简称"公司"）于2024年8月16日在 公司会议室以现场会议的方式召开了第六届监事会第二次会议，会议通知及相关 资料于2024年8月6日通过电子邮件、直接送达方式发出。本次监事会会议应参加 表决监事5名，实际参加表决监事5名。会议由监事会主席孙丽丽主持。会议的召 集及召开程序符合《中华人民共和国公司法》及《公司章程》的规定。 二、监事会会议审议情况 经与会监事认真审议与表决，形成了以下决议： 证券代码：300354 证券简称：东华测试 公告编号：2024-052 江苏东华测试技术股份有限公司 第六届监事会第二次会议决议公告 本公司及监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。 1 审议结果：赞成5票；反对0票；弃权0票，通过。 《2024年半年度非经营性资金占用及其他关联资金往来情况汇总表》详见中 国证监会创业板指定信息披露网站。 3、审议通过《关于转让控股子公司部分股权的议案》 1、审议通过《关于公司2024年半年度报告全文及摘要的议案》 经审核，监事会认为：公司《2024年半年度报告》的编制程序、内容、格 ...

2024 年 1 月 30 日，你公司披露《2023 年度业绩预告》， 预计 2023 年归属于上市公司股东的净利润（以下简称"净 利润"）为 14,000 万元至 17,500 万元。2024 年 3 月 20 日， 你公司披露《2023 年度业绩预告修正公告》，预计 2023 年度 净利润为 8,500 万元至 11,000 万元。2024 年 4 月 16 日，你 公司披露《2023 年年度报告》，2023 年度经审计净利润为 8,774.87 万元。你公司业绩预告披露的预计净利润与年报披 露的经审计净利润存在较大差异且未及时修正。 你公司的上述行为违反了本所《创业板股票上市规则 （2023 年 8 月修订）》第 1.4 条、第 5.1.1 条、第 6.2.1 条、 第 6.2.5 条的规定。请你公司董事会充分重视上述问题，吸 取教训，及时整改，杜绝上述问题的再次发生。 1 深 圳 证 券 交 易 所 关于对江苏东华测试技术股份有限公司的 监管函 创业板监管函〔2024〕第 120 号 江苏东华测试技术股份有限公司董事会： 深圳证券交易所 创业板公司管理部 2024 年 8 月 2 日 2 我部提醒你公 ...