Investment Rating - The report maintains a "Buy" rating for the company with a target price of 17.48 yuan, while the current price is 14.50 yuan [2][4]. Core Views - The company's testing equipment and environmental testing services are steadily growing, with integrated circuit testing expected to gradually recover from short-term pressure. The earnings per share (EPS) forecasts for 2024, 2025, and 2026 are 0.76, 0.95, and 1.13 yuan respectively [1][2][4]. Financial Performance - The company reported a revenue of 2.117 billion yuan for 2023, representing a year-on-year increase of 17.26%. The net profit attributable to shareholders was 314 million yuan, up 16.44% year-on-year [1][22]. - In Q4 2023, the company achieved a revenue of 590 million yuan, which is an 8.24% increase year-on-year and a 5.77% increase quarter-on-quarter [1][22]. Segment Performance - Testing equipment revenue reached 753 million yuan in 2023, a 23.00% increase year-on-year, driven by demand from the new energy sector and testing institutions [1][22]. - Environmental testing services generated 1.003 billion yuan in revenue, up 19.45% year-on-year, with continued investments in new energy, energy storage, aerospace, wireless communication, and medical devices [1][22]. - Integrated circuit testing revenue was 257 million yuan, reflecting a modest year-on-year growth of 2.34%, impacted by increased operational costs due to rapid expansion of equipment capacity and talent reserves [1][22]. Capacity Expansion and Future Outlook - The company is actively expanding its application fields and accelerating capacity layout, with projects in new energy and wireless communication expected to be operational in the second half of 2024 [1][22]. - The financial forecasts indicate a steady growth trajectory, with projected revenues of 2.592 billion yuan in 2024, 3.133 billion yuan in 2025, and 3.737 billion yuan in 2026 [22].

Financial Performance - The total revenue for 2023 is projected to increase by 15% compared to the previous year, reaching approximately 1.2 billion CNY[14]. - The company anticipates a net profit margin of 12% for 2023, reflecting improved operational efficiency[14]. - The company's operating revenue for 2023 was CNY 2,116,723,460.04, representing a 17.26% increase compared to CNY 1,805,138,873.35 in 2022[19]. - The net profit attributable to shareholders for 2023 was CNY 314,272,573.09, up 16.44% from CNY 269,908,300.92 in 2022[19]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan, representing a year-over-year growth of 20%[146]. - The company reported a total revenue of approximately 936.28 million CNY for the year, with a net profit of around 356.33 million CNY, reflecting a significant growth compared to previous periods[106]. - The company’s main business revenue reached 2,012.18 million yuan, an increase of 18.21% year-on-year, with testing equipment revenue at 752.63 million yuan, up 23%[44]. - Environmental and reliability testing service revenue was 1,003.03 million yuan, growing by 19.45% year-on-year, while integrated circuit verification and analysis service revenue was 256.52 million yuan, a 2.34% increase[44]. Market Expansion and Strategy - The company aims to expand its market presence by entering three new provinces in 2024, targeting a 20% growth in user base[14]. - The company is actively pursuing mergers and acquisitions to bolster its market position and expand its service offerings[141]. - The company plans to expand its testing capabilities in Shanghai, Shenzhen, and Suzhou to meet the increasing demand, which has led to a rise in operational costs[107]. - The company is enhancing its market presence by deepening its focus on niche industries such as integrated circuits, new energy, aerospace, and medical devices, while also expanding its overseas laboratory footprint[113]. - The company is committed to continuous innovation in digital and intelligent transformation projects, with a focus on core technology breakthroughs to lead industry development[112]. - The company plans to leverage its technological advancements to explore new market opportunities and enhance its product line[75]. - The company is expanding its market presence, targeting a 15% increase in market share by the end of 2024[126]. Research and Development - Research and development expenses are expected to rise by 10% in 2024, focusing on new testing technologies[14]. - The company is investing in automation technologies to reduce testing turnaround time by 30%[14]. - The number of R&D personnel increased to 559 in 2023, representing a growth of 12.47% compared to 497 in 2022[79]. - R&D investment amounted to ¥166,645,210.60 in 2023, representing 7.87% of total revenue, an increase from 7.45% in 2022[80]. - The company is developing a fatigue testing device for autonomous vehicle brake pads, utilizing automated methods to simulate actual braking behavior[78]. - The company has completed research on ESD testing for integrated circuits, identifying weaknesses and tolerance levels in ESD protection circuits[78]. - The company is conducting research on the fatigue characteristics of aircraft engine turbine blades, which is crucial for assessing structural integrity[79]. Shareholder and Governance - The company plans to distribute a cash dividend of 1.5 CNY per 10 shares (including tax) to all shareholders[5]. - The profit distribution plan includes a cash dividend of RMB 1.50 per 10 shares (including tax), totaling RMB 75,598,111.95, with no bonus shares or capital reserve conversion planned[164]. - The company has a cash dividend policy that mandates a minimum of 20% of profit distribution in cash dividends during growth phases with significant capital expenditures[163]. - The company has a well-defined compensation and performance incentive mechanism to enhance employee motivation and productivity[159]. - The company has a governance structure that includes a board of directors and supervisors, with specific roles and responsibilities outlined[137]. - The management team emphasizes a strategy of "focusing on core business, dual-driven development, and integration of manufacturing and services" to ensure sustainable growth[110]. - The company is committed to maintaining transparency and regular communication with its shareholders through meetings and disclosures[135]. Operational Efficiency - The company is enhancing its internal operations through digital management initiatives, promoting standardized and data-driven processes to support high-quality development[63]. - The company is committed to enhancing its market competitiveness by expanding its service offerings and leveraging technological advancements in the testing industry[34]. - The company has established a quality management system to enhance product quality and customer service, fostering long-term relationships with clients[182]. - The company emphasizes digital transformation and product series optimization, aiming to maintain a competitive edge through continuous innovation and technology development[49]. Financial Guidance and Future Outlook - Future guidance includes a revenue target of 1.5 billion CNY for 2024, representing a 25% year-over-year growth[14]. - The company provided a positive outlook for Q4 2023, projecting a revenue growth of 20% compared to Q3 2023[126]. - The company has set ambitious performance guidance for the next fiscal year, aiming for sustained growth and profitability[138]. - The company anticipates a stable economic recovery in 2024, aligning its strategies with national policies to promote high-quality development[109]. Challenges and Risks - The competitive landscape in the environmental and reliability testing market is intensifying, with an increasing number of laboratories and potential competitors threatening market share[119]. - There is a risk that the returns on funded projects may not meet expectations due to uncertainties in market conditions and project execution[122]. - The company is closely monitoring macroeconomic conditions, as fluctuations may impact funding for research and indirectly affect demand for testing equipment and services[118]. - The company is expanding its business operations across multiple cities, which is leading to increased management complexity and potential operational risks[121]. Technological Advancements - The company has made significant technological breakthroughs in hydraulic testing systems, enhancing its product line and expanding into new market areas, particularly in the new energy sector[43]. - The company is developing a 50-ton high-speed hydraulic vibration system aimed at enhancing earthquake simulation capabilities for nuclear power and energy storage equipment[75]. - The company has completed the 10000g impact response spectrum simulation test, enhancing its testing capabilities for aerospace and other industries[77]. - The company is enhancing its testing service capabilities by constructing certification testing service platforms for wireless communication products, responding to the rapid development of industries like 5G and IoT[35]. Employee and Workforce Development - The total number of employees at the end of the reporting period was 2,706, with 1,440 being technical personnel, representing approximately 53.2% of the workforce[158]. - The company has implemented a comprehensive training program aimed at improving the skills of management, engineering, and production personnel[160]. - The company is investing in talent acquisition and management to strengthen its workforce and support high-quality development[115].

Investment Rating - The report maintains a "Buy" rating for Su Shi Testing (300416.SZ) [3][9] Core Views - The company achieved a revenue of 2.117 billion yuan in 2023, representing a year-on-year growth of 17.26%, and a net profit of 314 million yuan, up 16.44% year-on-year [2][9] - The company is expanding its service network and enhancing testing capabilities, with new laboratories established in various locations, including Guizhou and Mianyang, and plans for an overseas laboratory in Thailand [7][8] - The report highlights the growth potential in emerging industries, particularly in environmental reliability, integrated circuit verification, and aerospace, driven by government support for general aviation and third-party testing [8] Financial Performance Summary - In 2023, the company generated revenue from various segments: environmental testing equipment (753 million yuan), environmental testing services (1.003 billion yuan), and integrated circuits (257 million yuan), with respective year-on-year growth rates of 23%, 19.45%, and 2.34% [6] - The overall gross margin for the company was 45.6%, a decrease of 1.06 percentage points year-on-year, with segment gross margins of 32.8%, 58.8%, and 43.3% [6] - The company expects revenue to reach 2.655 billion yuan in 2024, with a projected growth of 25.4%, and net profit to be 401 million yuan, reflecting a 27.5% increase [9][12]

[Table_Summary] 事件：公司发布 2023 年年报，2023 年实现营收 21.2 亿，同比+17.3%；归母 净利润 3.1 亿，同比+16.4%；扣非归母净利润 2.8 亿，同比 17.0%。单季度来 看，Q4 实现营收 5.9 亿，同比+8.2%，环比+6.3%；归母净利润 0.9 亿，同比 +3.0%，环比+11.1%。业绩基本符合预期。 能力强。2023 年公司综合毛利率为 45.6%，同比-1.1pp；毛利率短期小幅下降 主要系 23年国内连续开展特种行业及医学领域的整改工作，对检测行业形成了 一定影响，其中公司集成电路与分析业务板块毛利率同比 22 年下滑 13.8pp。 2023 年公司期间管理费用率为 26.4%，同比-1.9pp；其中，销售、管理、研发 和财务费用率分别为 6.4%、10.9%、7.9%、1.2%，分别同比+0.1pp、-1.7pp、 +0.4pp、-0.7pp；公司净利率为 17.4%，同比+0.2pp。 盈利预测与投资建议。预计公司 2024-2026 年归母净利润分别为 3.8、5.0、6.3 亿元，未来三年归母净利润复合增长率 26%，维持"买入"评级 ...

证券代码：300416 证券简称：苏试试验 公告编号：2024-008 苏州苏试试验集团股份有限公司 关于 2023 年度利润分配预案的公告 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。 苏州苏试试验集团股份有限公司（以下简称"公司"） 于 2024 年 3 月 28 日 召开的第五届董事会第三次会议和第五届监事会第三次会议，审议通过了《关于 <公司 2023 年度利润分配预案>的议案》，分配预案具体情况如下： 一、利润分配预案的基本情况 经天衡会计师事务所（特殊普通合伙）审计，公司 2023 年度实现归属于上 市 公 司 股 东 的 净 利 润 为 314,272,573.09 元 ， 母 公 司 实 现 的 净 利 润 为 128,081,491.61 元。根据公司章程的有关规定，提取法定盈余公积金 12,808,149.16 元后，截至 2023 年 12 月 31 日，公司累计未分配利润为 1,085,426,981.47 元；母 公司累计未分配利润为 352,705,146.59 元。 公司 2023 年度分配预案为：以公司实施利润分配方案时股权登 ...

苏州苏试试验集团股份有限公司 2023年度独立董事述职报告 （王仁春） 本人作为苏州苏试试验集团股份有限公司（以下简称"公司"）第五届董事 会独立董事，在 2023 年任职期内，根据《中华人民共和国公司法》、《上市公 司独立董事管理办法》、《上市公司治理准则》、《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》等有关法律、法规的要求，以 及《公司章程》和《独立董事工作制度》的相关规定，严格保持独立董事的独立 性和职业操守，认真履行了独立董事的职责，依法合规地行使了独立董事的权利， 充分发挥独立董事的作用，勤勉尽责，促进公司规范运作，维护了公司整体利益， 维护了全体股东尤其是中小股东的合法权益。现将本人 2023 年度履行独立董事 职责情况汇报如下： 一、2023 年度出席会议情况 2023 年任职期内，公司召开董事会会议共 2 次，本着勤勉尽责的态度，本 人均按时亲自参加现场会议，其中 1 次现场参加会议，1 次以通讯方式参加，没 有缺席或者连续两次未亲自出席会议的情况。本人认真审阅会议材料，与公司管 理层保持充分沟通，详细了解相关议案的背景资料和决策依据，必要时进行现场 调查，依据 ...

证券代码：300416 证券简称：苏试试验 公告编号：2024-007 第五届监事会第三次会议决议公告 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。 苏州苏试试验集团股份有限公司（以下简称"公司"）第五届监事会第三次 会议通知于 2024 年 3 月 18 日以书面形式发出，会议于 2024 年 3 月 28 日在公 司会议室召开。本次会议应到监事 3 名，实际到会监事 3 名。会议的召开及表决 符合《公司法》及《公司章程》的规定。 会议审议并通过如下决议： 一、 审议通过《关于<公司 2023 年度监事会工作报告>的议案》 《公司 2023 年度监事会工作报告》的具体内容详见公司信息披露网站巨潮 资讯网（http://www.cninfo.com.cn）。 此议案经与会监事审议，表决结果：3 票同意，0 票反对，0 票弃权。 此议案尚需提交公司 2023 年年度股东大会审议。 苏州苏试试验集团股份有限公司 此议案经与会监事审议，表决结果：3 票同意，0 票反对，0 票弃权。 此议案尚需提交公司 2023 年年度股东大会审议。 四、 审议通过《关于<公司 2 ...

苏州苏试试验集团股份有限公司 董事会秘书工作细则 第一章 总 则 第一条 为规范苏州苏试试验集团股份有限公司（以下简称"公司"）行为， 明确董事会秘书的职责权限，根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《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》等法律、法规、规范性文件和《苏州苏试试验集团股份有限公司章 程》（以下简称"《公司章程》"）等的规定，特制定本细则。 第二条 董事会秘书为公司的高级管理人员，对公司和董事会负责。法律、 法规及《公司章程》对公司高级管理人员的有关规定，适用于董事会秘书。 第二章 任职资格 第三条 董事会秘书应当具有必备的专业知识和经验。 第四条 董事会秘书应当由公司董事、总经理、副总经理或财务负责人担任， 公司现任监事、聘请的会计师事务所的注册会计师和律师事务所的律师、国家公 务员及其他中介机构的人员不得兼任公司董事会秘书。 第五条 董事会秘书的任职资格： （一）具有财务、税收、法律、金融、企业管理等方面的专业知识，具有良 好的个人品质，严格遵守有关法律、法规及职业操守，能够忠诚履行职责，并具 有很好的沟通技巧和办事能力； （二）不存在《公 ...

证券代码：300416 证券简称：苏试试验 公告编号：2024-006 苏州苏试试验集团股份有限公司 第五届董事会第三次会议决议公告 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。 苏州苏试试验集团股份有限公司（以下简称"公司"）第五届董事会第三次 会议（以下简称"会议"）通知于 2024 年 3 月 18 日以邮件、微信方式发出，会 议于 2024 年 3 月 28 日在公司一楼会议室以现场及通讯方式召开。会议由钟琼华 董事长主持。会议应到董事 7 人，亲自参加董事 7 人，其中董事沈晓鹏先生、独 立董事黄德春先生、王仁春先生以通讯方式参加。公司监事、高级管理人员等列 席会议，符合公司法及公司章程的规定。 会议审议并通过如下决议： 一、审议通过《关于<公司 2023 年度总经理工作报告>的议案》 董事会审议了《公司 2023 年度总经理工作报告》，认为 2023 年度公司经营 层有效地执行了股东大会和董事会的各项决议。 此议案经与会董事审议，表决结果：7 票赞成，0 票反对，0 票弃权。 二、审议通过《关于<公司 2023 年度董事会工作报告>的议案》 《公 ...

财务报表审计报告 天衡审字(2024)00410 号 天衡会计师事务所（特殊普通合伙） 苏州苏试试验集团股份有限公司 审计报告 天衡审字(2024)00410 号 苏州苏试试验集团股份有限公司全体股东： 一、审计意见 我们审计了苏州苏试试验集团股份有限公司（以下简称"苏试试验"）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、合并及母公司股东权益变动表以及相关财务报表附注。 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 苏试试验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在这些准则下的责任。按照中国注册会计师职 业道德守则，我们独立于苏试试验，并履行了职业道德方面的其他责任。我们相信，我们获 取的审计证据是充分、适当的，为发表审计意见提供了基础。 三、关键审计事项 关键审计事项是我们根据职业判断，认为对本期财务 ...