证券代码：300416 证券简称：苏试试验 公告编号：2024-024 关于回购公司股份的进展公告 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。 苏州苏试试验集团股份有限公司（以下简称"公司"）于 2023 年 6 月 27 日 召开第四届董事会第三十次会议和第四届监事会第二十二次会议，审议通过了 《关于回购公司股份方案的议案》，同意自董事会审议通过本次回购股份方案之 日起 12 个月内，使用不低于人民币 5,000 万元，不超过人民币 10,000 万元的自 有资金，采取集中竞价交易的方式以不超过 25 元/股的价格回购公司部分人民币 普通 A 股股票，全部用于实施员工持股计划或股权激励计划，具体回购股份数 量和金额以回购结束时实际回购的股份数量和金额为准。具体内容详见公司分别 于 2023 年 6 月 28 日、2023 年 7 月 1 日在巨潮资讯网（http://www.cninfo.com.cn） 披露的《关于回购公司股份方案的公告》（公告编号：2023-039）、《回购报告 书》（公告编号：2023-041）。 根据《上市公司股份回购规则》、《深 ...

证券研究报告 3.89/4.95/6.07 亿元。参考可比公司估值，考虑公司业绩稳定性、成长 性，以及公司正处于产能爬坡阶段，给予公司 2024 年 25xPE 估值，对 应合理价值 19.13 元/股，维持"买入"评级。 -50% -40% -29% -19% -8% 2% 05/23 07/23 09/23 10/23 12/23 02/24 04/24 苏试试验 沪深300 021-38003678 SAC 执证号：S0260520080002 [联系人： Table_Contacts]蒲明琪 021-38003807 pumingqi@gf.com.cn 公司深耕环境与可靠性试验领域，持续拓展电子电器、船舶、汽车轨交、集成电路等 市场，布局试验设备和试验服务双主业。试验设备方面依托力学设备向气候和综合 设备转型带来新增量，试验服务方面新增实验室以及综合试验能力提升支撑持续发 展。 表1：苏试试验营业收入拆分（百万元） 一、试验服务 收入 840 1,003 1,249 1,554 1,899 YoY 27.9% 19.5% 24.5% 24.4% 22.2% 成本 362 413 520 653 80 ...

证券代码：300416 证券简称：苏试试验 公告编号：2024-023 苏州苏试试验集团股份有限公司 关于回购公司股份的进展公告 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。 苏州苏试试验集团股份有限公司（以下简称"公司"）于 2023 年 6 月 27 日 召开第四届董事会第三十次会议和第四届监事会第二十二次会议，审议通过了 《关于回购公司股份方案的议案》，同意自董事会审议通过本次回购股份方案之 日起 12 个月内，使用不低于人民币 5,000 万元，不超过人民币 10,000 万元的自 有资金，采取集中竞价交易的方式以不超过 25 元/股的价格回购公司部分人民币 普通 A 股股票，全部用于实施员工持股计划或股权激励计划，具体回购股份数 量和金额以回购结束时实际回购的股份数量和金额为准。具体内容详见公司分别 于 2023 年 6 月 28 日、2023 年 7 月 1 日在巨潮资讯网（http://www.cninfo.com.cn） 披露的《关于回购公司股份方案的公告》（公告编号：2023-039）、《回购报告 书》（公告编号：2023-041）。 根据 ...

证券研究报告 ＃industryId＃ 检测服务 ＃investSuggestion＃ 分析师： 丁志刚 | --- | --- | |--------------------------------|--------------------------------------| | | | | ＃市场数据 marketData ＃ | | | 日期 | 2024-04-30 | | 收盘价（元） | 13.90 | | 总股本（百万股） | 508.55 | | 流通股本（百万股） | 505.15 | | | | | 净资产（百万元） | 2,560.91 | | 总资产（百万元） | 4,840.32 | | 每股净资产（元） 来源： WIND | 5.04 ，兴业证券经济与金融研究院整理 | ＃ investSug gestionCh ange＃ 维持 ） | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------|-------- ...

24Q1 营收略有增长，业绩符合预期，24 年需求改善可期 核心观点 事件：公司发布 2024 年一季报，2024Q1 实现营收 4.42 亿元（+1.03%），实现归母净 利润 0.42 亿元（-4.86%）。 ⚫ 2024Q1 营收略有增长，业绩符合预期 。 2024Q1 公司实现 营 收 4.42 亿 （+1.03%），归母净利润 0.42 亿（-4.86%），业绩符合预期。利润端表现不及营 收端，净利率下滑至 10.21%（-1.57pct）， 其中：① 毛利率下滑至 42.47%（- 0.99pct），或是由于募投产能仍在爬坡期 ；② 期间费用率增长至 31.13% （+2.19pct），主要由于销售费用率同比+1.31pct，研发费用率同比+0.97pct。同 时，24Q1 收回前期应收账款增加，信用减值损失同比减少 0.06 亿元。 ⚫ 双轮驱动，多点发力，下游需求复苏可期，有望推动公司业绩逐渐恢复。环试设 备：公司加强关键核心技术攻关，推进试验系统向综合化、高端化、数字化转型， 并已在液压类试验系统的研发上取得一定技术突破。环试服务：供给端看，公司持 续聚焦能力建设，23 年建设绵阳、贵阳等专 ...

联系电话:010-59219558 - 传真:010-59562637 厦中航证券有限公司 1 从子公司情况来看,2023年苏州广博、成都广博、西安广博产能进一 步扩充,继续加大市场开拓力度,业绩持续增长;北京创博加强精细化管理, 优化管理,盈利能力有所提高;上海宜特为满足日益增长的检测需求,进行 ◆ 三费费用率下降，研发费用率小幅增长 公司网址：www.avicsec.com | --- | --- | --- | |----------------------------------------------------------------------|--------------------------------------------------------------------------------------------|-------------| | | | | | 苏试试验（300416） | 投资评级 | 买入 | | 2023 年报及 2024 年一季报点评：新市场新客户带 | | 维持评级 | | | 2024年04月25 日 | | | 动新增量 | 收盘价(元): | 13 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 14.10 RMB per share [24] - The current PE ratio is 17.2X for 2024E, 13.3X for 2025E, and 11.5X for 2026E [4] Core Views - The company is a leader in the environmental and reliability testing field, with a strong presence in both domestic and international laboratory construction [3] - The company's dual business model of "testing equipment + testing services" is driving steady growth, with a focus on emerging sectors such as new energy, photovoltaics, and aerospace [3][22] - Revenue for 2024Q1 reached 442 million RMB, a 1.03% YoY increase, while net profit attributable to shareholders was 42 million RMB, a 4.86% YoY decrease [22] - The company is expected to achieve revenue of 2.68 billion RMB in 2024, with a YoY growth of 26.6%, and net profit attributable to shareholders of 417 million RMB, a 32.7% YoY increase [23] Financial Performance Revenue and Profit - Revenue for 2022A was 1.805 billion RMB, increasing to 2.117 billion RMB in 2023A, and is projected to reach 2.68 billion RMB in 2024E [4] - Net profit attributable to shareholders grew from 270 million RMB in 2022A to 314 million RMB in 2023A, with a forecast of 417 million RMB in 2024E [4] - EPS is expected to rise from 0.53 RMB in 2022A to 0.82 RMB in 2024E [4] Profitability - Gross margin remained stable at around 45.5% to 46.7% from 2022A to 2026E [6] - Net margin improved from 15.0% in 2022A to 16.5% in 2025E [6] - ROE is projected to increase from 13.0% in 2022A to 16.0% in 2025E [4] Balance Sheet and Cash Flow - Total assets grew from 4.279 billion RMB in 2022A to 4.850 billion RMB in 2023A, with a forecast of 6.169 billion RMB in 2024E [6] - Operating cash flow was 468 million RMB in 2022A, decreasing to 370 million RMB in 2023A, but is expected to recover to 623 million RMB in 2025E [6] - Capital expenditures were 352 million RMB in 2022A, increasing to 613 million RMB in 2023A, but are projected to decrease to 250 million RMB in 2024E [6] Industry and Market Position - The company is expanding its presence in high-growth sectors such as new energy, photovoltaics, power communications, aerospace, and energy storage [3] - It is strengthening its domestic and international laboratory network to enhance scale and sustainability [3] - The company's focus on R&D and digital transformation is expected to drive long-term growth [14] Valuation and Outlook - The company's valuation metrics are favorable, with a declining PE ratio from 26.6X in 2022A to 11.5X in 2026E [4] - The EV/EBITDA ratio is expected to decrease from 14.3X in 2022A to 7.3X in 2026E, indicating improving valuation attractiveness [6] - The report projects strong revenue and profit growth through 2026, driven by the company's strategic focus on high-growth industries and operational efficiency [23]

业绩符合预期，看好 2024 年需求改善 目标价：19 元 当前价：14.10 元 业绩符合预期，毛利率小幅下滑预计受结构性影响。2024Q1 年公司实现收入 4.42 亿元，同比增长 1.03%，实现归母净利润 0.42 亿元，同比下降 4.86%，实 现扣非归母净利润 0.40 亿元，同比下降 1.81%，符合市场预期，2023 年 Q1 公 司设备板块由于前期递延因素造成基数较高。2024 年 Q1 公司毛利率/净利率 分别为 42.47%/10.21%，同比分别-0.99pct/-1.57pct，预计主要系集成电路板块 增速相对较快，集成电路板块前期的设备投入目前产能处于爬坡期，后续随着 收入增长，毛利率有望逐季提升；公司 2024 年 Q1 销售/管理/研发/财务费用 率 分 别 为 8.11%/13.17%/7.93%/1.93% ， 同 比 分 别 +1.32pct/- 0.19pct/+0.97pct/+0.10pct，费用率水平基本稳定。 2023 年存在扰动因素，看好 2024 年需求改善带来公司产能释放。2023 年由 于特殊行业及半导体领域的检测需求阶段性受到影响以及结款周期的延长，叠 ...

Financial Performance - The company's revenue for Q1 2024 was ¥442,438,250.22, representing a 1.03% increase compared to ¥437,935,386.08 in the same period last year[5] - Net profit attributable to shareholders decreased by 4.86% to ¥42,172,756.31 from ¥44,328,613.53 year-on-year[5] - Basic and diluted earnings per share both decreased by 4.93% to ¥0.0829 from ¥0.0872 in the same period last year[5] - Net profit for Q1 2024 was CNY 45,183,977.01, a decrease of 12.25% from CNY 51,604,410.96 in Q1 2023[23] - Total operating revenue for Q1 2024 was CNY 442,438,250.22, an increase of 1.15% compared to CNY 437,935,386.08 in Q1 2023[21] Cash Flow - The net cash flow from operating activities improved by 26.63%, reaching -¥61,500,238.43, compared to -¥83,819,825.53 in the previous year[5] - The company's cash flow from operating activities for Q1 2024 showed a significant improvement, although specific figures were not disclosed in the provided content[25] - Cash inflow from operating activities totaled 430,881,447.85, compared to 406,763,611.98 in the previous period, reflecting a growth of approximately 5.5%[27] - Cash outflow from operating activities was 492,381,686.28, slightly increased from 490,583,437.51, resulting in a stable cash outflow situation[27] - The net cash flow from financing activities dropped significantly by 67.59% to ¥98,051,523.79 from ¥302,520,078.75, reflecting reduced cash inflow from minority shareholder investments[11] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,840,316,336.93, a slight decrease of 0.19% from ¥4,849,655,503.07 at the end of the previous year[5] - Total liabilities decreased to CNY 1,845,613,243.86 in Q1 2024 from CNY 1,885,424,890.95 in Q1 2023, reflecting a reduction of 2.11%[20] - The company's long-term borrowings increased by 42.70% to ¥236,952,000.00 from ¥166,052,000.04, indicating a rise in financing activities[9] Shareholder Information - The total equity attributable to shareholders increased by 1.29% to ¥2,560,906,934.91 from ¥2,528,269,883.37 at the end of the previous year[5] - The total number of common shareholders at the end of the reporting period is 21,479[13] - The largest shareholder, Suzhou Testing Instrument, holds 31.93% of the shares, totaling 162,401,460 shares[14] - The company has repurchased a total of 4,560,393 shares, accounting for 0.90% of the total share capital, with a total transaction amount of 80,824,152.97 RMB[16] Investment and Expenses - Research and development expenses increased to CNY 35,076,322.80 in Q1 2024, compared to CNY 30,480,293.69 in Q1 2023, marking an increase of 15.4%[21] - The company reported a 550.14% increase in credit impairment losses, amounting to ¥4,613,911.75, due to an increase in the recovery of prior receivables[10] - Other income decreased by 42.70% to ¥3,025,177.38, primarily due to a reduction in government subsidies during the reporting period[10] Cash and Equivalents - The company's cash and cash equivalents at the end of the reporting period amounted to 830,706,896.92 RMB, down from 931,456,629.28 RMB at the beginning of the period[18] - The ending balance of cash and cash equivalents was 815,387,155.29, down from 1,097,496,920.24, indicating a decrease of approximately 25.7%[27]

证券代码：300416 证券简称：苏试试验 公告编号：2024-021 苏州苏试试验集团股份有限公司 2023 年年度权益分派实施公告 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。 1、公司 2024 年 4 月 18 日召开的 2023 年年度股东大会审议通过了《关于< 公司 2023 年度利润分配预案>的议案》，公司以实施利润分配方案时股权登记日 可参与利润分配的总股本（扣除回购专用证券账户股份）为基数，向全体股东每 10 股派发现金股利人民币 1.50 元（含税），剩余未分配利润滚存至以后年度分 配，本年度不送红股，不以资本公积转增股本。本利润分配预案发布后至实施前， 公司股本如发生变动，将按照分配总额不变的原则对分配比例进行调整。 2、自公司 2023 年度权益分派方案披露至实施期间，公司股本总额未发生变 化。 特别提示： 1、苏州苏试试验集团股份有限公司（以下简称"公司"）回购专用证券账户 中的公司股份 4,560,393 股不参与本次权益分派。公司 2023 年年度权益分派方案 为：以公司现有总股本剔除已回购股份 4,560,393 股后的 50 ...