Investment Rating - Maintain "Recommend" rating with a current price of 17.65 RMB [1] Core Views - The company released its Q3 2024 report, showing revenue of 10.42 billion RMB for the first three quarters of 2024, a year-on-year increase of 3.52%, and net profit attributable to the parent company of 2.25 billion RMB, a year-on-year increase of 7.08% [2] - Q3 2024 revenue was 3.45 billion RMB, a year-on-year decrease of 7.58%, but net profit attributable to the parent company increased by 0.97% year-on-year to 0.81 billion RMB [2] - The company is advancing its three-tier development strategy, with the first tier focusing on core components for turbochargers and precision parts, the second tier on new energy vehicle lightweight structural parts, and the third tier on high-precision ball/roller screw pairs and rolling guide pairs [2][4] - The company's subsidiary, Anhui Best, is accelerating production capacity ramp-up and is actively developing new products and customers in the new energy vehicle sector [2] - The company's subsidiary, Wuxi Yuhua Precision Machinery, is making progress in the industrial machine and humanoid robot sectors, with breakthroughs in high-precision screw pairs and rolling guide pairs [2][4] Financial Performance - Q3 2024 revenue: 3.45 billion RMB, a year-on-year decrease of 7.58% [2] - Q3 2024 net profit attributable to the parent company: 0.81 billion RMB, a year-on-year increase of 0.97% [2] - Q3 2024 gross margin: 34.18%, a year-on-year decrease of 1.80 percentage points [2] - Q3 2024 sales/management/R&D/financial expense ratios: 0.64%/8.46%/4.08%/-0.39%, respectively [2] - Expected revenue for 2024-2026: 14.60/18.42/21.92 billion RMB, with net profit attributable to the parent company of 3.13/3.92/5.07 billion RMB [4] - EPS for 2024-2026: 0.63/0.79/1.02 RMB, with PE ratios of 28/22/17 times [4] Business Development - The company is strengthening its first-tier industry by maintaining existing customer relationships and expanding into new customer segments [2] - Anhui Best is focusing on new energy vehicle lightweight structural parts, high-value precision parts, and hydrogen fuel cell vehicle core components [2] - Wuxi Yuhua Precision Machinery is advancing in the industrial machine, humanoid robot, and new energy vehicle sectors, with significant progress in high-precision screw pairs and rolling guide pairs [2][4] Future Outlook - The company is expected to continue its growth trajectory, with revenue and net profit projected to increase steadily from 2024 to 2026 [4] - The company's focus on new energy vehicles, industrial machines, and humanoid robots is expected to drive future growth [2][4]

股票代码：300580 股票简称：贝斯特 公告编号：2024-032 无锡贝斯特精机股份有限公司 关于调整使用闲置自有资金进行委托理财的额度及期限的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 无锡贝斯特精机股份有限公司（以下简称"贝斯特"、"公司"）第四届董 事会第十二次会议审议通过了《关于调整使用闲置自有资金进行委托理财的额度 及期限的议案》，同意公司为更大限度地提高闲置资金使用效率，以自有闲置资 金进行委托理财，用于投资短期风险较低的理财产品，将投资额度由不超过人民 币 7.5 亿元，调整为不超过人民币 9 亿元（投资期限内任一时点，自有闲置资金 委托理财最高余额合计不超过 9 亿元）。在此额度范围内，资金可滚动循环使用， 投资期限调整为自本次董事会会议审议通过之日起一年内。原委托理财投资方向、 品种、实施方式等均不变。现将相关情况公告如下： 一、前次使用闲置自有资金进行委托理财的基本情况 公司于 2024 年 1 月 17 日召开第四届董事会第九次会议，审议通过了《关于 以自有闲置资金进行委托理财的议案》，同意公司为提高闲置资金使用效率，以 自 ...

无锡贝斯特精机股份有限公司舆情管理制度 （2024年10月） 第一章 总 则 第四条 公司成立应对舆情管理工作领导小组（以下简称"舆情工作组"）， 由公司董事长任组长，董事会秘书任副组长，成员由公司其他高级管理人员及相 关职能部门负责人组成。 第五条 舆情工作组是公司应对各类舆情处理工作的领导机构，统一领导公 司应对各类舆情的处理工作，就相关工作做出决策和部署，根据需要研究决定公 司对外发布信息，主要工作职责包括： （一）决定启动和终止各类舆情处理工作的相关事宜； 第一条 为提高无锡贝斯特精机股份有限公司（以下简称"公司"）应对各类 舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公司股价、 公司商业信誉及正常生产经营活动造成的影响，切实保护投资者合法权益，根据 相关法律、法规和规范性文件的规定及《无锡贝斯特精机股份有限公司章程》（ 以下简称"《公司章程》"），结合公司实际情况，制定本制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （三）可能或者已经影响社会公众投资者投资取向，造成股价异常波动 ...

股票代码：300580 股票简称：贝斯特 公告编号：2024-031 无锡贝斯特精机股份有限公司 第四届董事会第十二次会议决议公告 本项议案已经公司董事会审计委员会全体成员审议通过。 二、关于调整使用闲置自有资金进行委托理财的额度及期限的议案； 表决结果：同意票 5 票，反对票 0 票，弃权票 0 票。 经审议，同意公司为更大限度地提高闲置资金使用效率，以自有闲置资金 进行委托理财，用于投资短期风险较低的理财产品，将投资额度由不超过人民币 7.5 亿元，调整为不超过人民币 9 亿元（投资期限内任一时点，自有闲置资金委 托理财最高余额合计不超过 9 亿元）。在此额度范围内，资金可滚动循环使用， 投资期限调整为自本次董事会会议审议通过之日起一年内。原委托理财投资方向、 品种、实施方式等均不变。 具体内容详见同日刊登在巨潮资讯网（http://www.cninfo.com.cn）上的《无 锡贝斯特精机股份有限公司关于调整使用闲置自有资金进行委托理财的额度及 期限的公告》（公告编号：2024-032）。 本议案已经公司独立董事专门会议审议通过。 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载 ...

Financial Performance - The company's revenue for Q3 2024 was ¥344,917,312.96, a decrease of 7.58% compared to the same period last year[2]. - Net profit attributable to shareholders was ¥81,087,739.94, reflecting a slight increase of 0.97% year-over-year[2]. - Total operating revenue for Q3 2024 reached ¥1,042,262,348.48, an increase of 3.9% compared to ¥1,006,824,477.85 in Q3 2023[16]. - Operating profit for the period was ¥254,306,016.09, up from ¥242,471,494.29 in the same period last year, reflecting a growth of 4.0%[17]. - Net profit attributable to shareholders was ¥224,817,004.64, compared to ¥209,951,247.39 in Q3 2023, marking an increase of 7.1%[17]. - The total comprehensive income for the period reached ¥225,105,729.68, compared to ¥211,784,451.10 in the previous period, reflecting an increase of approximately 6.2%[18]. Cash Flow - The net cash flow from operating activities increased by 35.61% to ¥298,745,417.08 compared to the previous year[3]. - Cash flow from operating activities generated a net amount of ¥298,745,417.08, an increase of 35.5% compared to ¥220,292,968.15 in the previous period[19]. - Cash inflow from investment activities totaled ¥1,872,754,610.41, significantly higher than ¥631,785,130.78 in the previous period, marking an increase of approximately 196.5%[20]. - The net cash flow from investment activities was negative at -¥210,166,198.37, worsening from -¥153,846,425.66 in the previous period[20]. - The company's cash flow from financing activities resulted in a net outflow of -¥82,886,714.36, compared to -¥81,195,268.88 in the previous period, showing a slight increase in cash outflow[20]. Assets and Liabilities - Total assets at the end of Q3 2024 were ¥3,555,378,821.26, a decrease of 0.07% from the end of the previous year[3]. - Total liabilities decreased to ¥529,738,823.16 from ¥684,562,416.03, a reduction of 22.7%[15]. - The company's equity attributable to shareholders increased by 5.32% to ¥3,015,377,213.14 compared to the previous year[3]. - Total current assets decreased from ¥1,867,319,755.50 to ¥1,790,678,477.52, a reduction of approximately 4.13%[13]. - Deferred income decreased to ¥189,176,180.43 from ¥195,650,828.08, a decline of 3.0%[15]. Investment and Development - The company reported a 61.45% increase in investment income, reaching ¥12,564,274.14 for the year-to-date[7]. - The company experienced a 36.61% increase in cash outflows from investing activities, totaling ¥210,166,198.37 for the year-to-date[8]. - The company is accelerating production capacity in Anhui and developing new products while expanding its customer base[12]. - The overseas subsidiary in Thailand has commenced construction, aiming to enhance the company's international development[12]. - The company is optimizing the production process for key components in humanoid robots, preparing for mass supply next year[12]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 27,812, with the top 10 shareholders holding a combined 49.80% of shares[9]. - Wuxi Best Investment Co., Ltd. holds 248,599,638 shares, accounting for 49.80% of the total shares[10]. - The total number of restricted shares held by major shareholders increased to 29,730,290 shares, with significant additions from Cao Yuhua and Cao Yi[11]. Research and Development - Research and development expenses amounted to ¥41,753,123.56, up from ¥35,402,156.12, indicating a year-over-year increase of 17.5%[16].

股票代码：300580 股票简称：贝斯特 公告编号：2024-029 无锡贝斯特精机股份有限公司 关于特定股东减持计划的预披露公告 截至本公告披露日，具体持股情况如下： 特别提示： | 股东名称 | 持股数量 | 占公司总股本比例 | | --- | --- | --- | | 无锡市鑫石投资合伙企业 | 12,141,612 股 | 2.4324% | | （有限合伙） | | | 持无锡贝斯特精机股份有限公司（以下简称"公司"或"贝斯特"）股份 12,141,612 股（占公司总股本比例 2.4324%）的股东无锡市鑫石投资合伙企业（有 限合伙）（以下简称"鑫石投资"）计划在自本公告披露之日起十五个交易日后 的三个月内以集中竞价交易方式或以大宗交易方式减持本公司股份合计不超过 7,487,308 股（占公司总股本比例 1.5000%）。 公司于近日收到公司股东鑫石投资的《股东减持计划告知函》，现将相关事 项公告如下： 一、股东的基本情况 （一）股东名称：无锡市鑫石投资合伙企业（有限合伙） 无锡贝斯特投资有限公司、曹余华、无锡市鑫石投资合伙企业（有限合伙） 及其一致行动人保证向本公司提供的信息内容真实、准确 ...

股票代码：300580 股票简称：贝斯特 公告编号：2024-028 无锡贝斯特精机股份有限公司 2024 年半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、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、股东大会及董事会审议通过 2024 年半年度权益分派方案等情况 1、无锡贝斯特精机股份有限公司（以下简称"公司"）于 2024 年 5 月 17 日 召开的 2023 年度股东大会审议通过了《关于提请股东大会授权董事会决定 2024 年中期现金分红的议案》。公司董事会于 2024 年 8 月 7 日召开第四届董事会第 十一次会议，审议通过了《关于公司 2024 年中期现金分红方案的议案》，具体 分配方案为：以总股本 499,153,912 股为基数，向全体股东每 10 股派发现金红 利人民币 0.30 元（含税）；不进行资本公积金转增股本,不送红股。若公司总股 本由于可转债转股、股份回购、股权激励行权、再融资新增股份上市等原因发生 变动的，公司将按照"每股派发现金分红比例不变"的原则，即保持每 10 股派发 现金红利 0.30 元（含税）不变，相应调整现金红利总额。 2、自公司 ...

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company reported a revenue of 697 million yuan for the first half of 2024, representing a year-on-year growth of 10.06%, and a net profit attributable to shareholders of 144 million yuan, up 10.86% year-on-year [1] - In Q2 2024, the company achieved a revenue of 354 million yuan, with a year-on-year growth of 8.97%, while the net profit attributable to shareholders decreased by 2.18% year-on-year [1] - The company's gross margin slightly decreased due to product structure adjustments, with a Q2 gross margin of 34.18%, down 1.80 percentage points year-on-year [1] - The company is optimizing its product structure and expanding production capacity, with plans for overseas expansion, including a factory in Thailand established in May 2024 [1] - The company is focusing on high-precision ball screw assemblies as a new growth area, leveraging its technology in tooling and intelligent equipment [1] - The investment recommendation anticipates revenue growth from 1.56 billion yuan in 2024 to 2.51 billion yuan in 2026, with corresponding net profits of 310 million yuan and 524 million yuan respectively [1] Summary by Sections Financial Performance - For the first half of 2024, the company achieved a revenue of 697 million yuan and a net profit of 144 million yuan, with significant growth in the non-recurring net profit [1][2] - The revenue for 2023 was 1.34 billion yuan, with projections of 1.56 billion yuan for 2024, 1.93 billion yuan for 2025, and 2.51 billion yuan for 2026 [2] Business Segments - The automotive parts business generated 629 million yuan in revenue for the first half of 2024, growing by 8.14% year-on-year, while the intelligent equipment and tooling business saw a revenue increase of 32.06% [1] - The company is enhancing its product structure by focusing on core components like turbochargers and expanding its product offerings through acquisitions and new subsidiaries [1] Future Outlook - The company is expected to maintain steady growth in its turbocharger business while successfully transitioning to new energy products [1] - The anticipated revenue and profit growth from 2024 to 2026 indicates a positive outlook for the company's financial performance [1][2]

Financial Performance - In the first half of 2024, the company achieved operating revenue of 69,734.50 million yuan, an increase of 10.06% year-on-year [1] - The net profit attributable to shareholders was 14,372.93 million yuan, up by 10.86% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 13,449.69 million yuan, reflecting a significant increase of 34.83% [1] Business Development - The first-tier industry maintained stable high-quality growth by expanding market share and developing new customer relationships [2] - The second-tier industry, through the subsidiary Anhui Best New Energy Vehicle Parts Co., Ltd., commenced operations in May 2024, focusing on enhancing production capacity and optimizing product structure [2] - The third-tier industry aims to leverage existing resources and technological advantages to expand into new markets, including linear motion components and collaborations with various industry players [2] Competitive Advantages - The company has developed core competitive advantages over its 20+ years of operation, including precision processing, casting support, and intelligent equipment [2] - Additional advantages include customer resource advantages, technological R&D strengths, green intelligent manufacturing capabilities, product diversification, quality, regional advantages, management efficiency, and talent [2]

Investment Rating - The investment rating for the company is "Buy" [7][10]. Core Views - The report indicates that the company's automotive parts business is experiencing stable growth, supported by the increasing demand for both fuel and new energy vehicles. The company is expected to become a competitive supplier of planetary roller screws for humanoid robots, benefiting from its entry into the high-end humanoid robot supply chain [7][10]. - The report highlights that the company's revenue, gross profit, EBIT, and net profit for Q2 2024 were RMB 354 million, RMB 121 million, RMB 64 million, and RMB 74 million respectively, showing year-on-year growth of 9%, 4%, 1%, and a decline of 2% in net profit [2][6]. - The report notes a slowdown in the growth rate of the automotive parts business, with a year-on-year increase of 8% in the first half of 2024 compared to 20% in 2023. The decline is attributed to seasonal factors and a slowdown in the downstream market [2][3]. Financial Overview - Q2 2024 financials: Revenue of RMB 354 million (+9% YoY), Gross Profit of RMB 121 million (+4% YoY), EBIT of RMB 64 million (-8% YoY), and Net Profit of RMB 74 million (-2% YoY) [2][6]. - The gross profit margin for Q2 2024 was 34%, a decrease of 2 percentage points year-on-year, while the net profit margin was 21%, down 2 percentage points year-on-year [2][6]. - The company expects to achieve approximately RMB 10 million in sales from its machine tool components by the end of the year, with positive progress in commercializing ball screws and linear guide products [3][5]. Market Outlook - The management anticipates a recovery in the growth rate of the automotive parts business in the second half of 2024, with turbocharger component revenue expected to grow by over 10% year-on-year [2][3]. - The company is expanding its production capacity, with plans for a factory in Anhui to begin mass production in Q4 2024 and a new facility in Thailand expected to start construction in the second half of 2024 [2][3]. - The report projects that the company will capture 5% of the global market share in high-end humanoid robot planetary roller screws by 2024, increasing to 15% by 2025 and contributing 8% to incremental revenue by 2027 [7][10].