证券代码：300592 证券简称：华凯易佰 公告编号：2024-118 华凯易佰科技股份有限公司 二、担保进展情况 近日，公司全资子公司易佰网络与上海浦东发展银行股份有限公司深圳分行 （以下简称"浦发银行深圳分行"）签署了《融资额度协议》，易佰网络向浦发 银行深圳分行申请人民币 10,000 万元的最高融资额度。公司就上述融资额度与 浦发银行深圳分行签署了《最高额保证合同》。 三、被担保人的基本情况 公司名称：深圳市易佰网络科技有限公司 统一社会信用代码：914403005840583015 成立日期：2011 年 10 月 20 日 1 注册地址：深圳市龙岗区坂田街道大发埔社区里浦街 7 号 TOD 科技中心 1 栋 101 法定代表人：庄俊超 关于为全资子公司银行授信事项提供担保的进展公告 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。 一、担保情况概述 华凯易佰科技股份有限公司（以下简称"公司"）于 2024 年 4 月 17 日召开 第三届董事会第三十二次会议和第三届监事会第二十四次会议，于 2024 年 5 月 10 日召开了 2023 年年度股东大 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [1] Core Insights - The company reported a significant revenue increase of 47.72% year-on-year in Q3 2024, with total revenue reaching 2.596 billion yuan. However, the net profit attributable to shareholders decreased by 40.01% to 55 million yuan due to increased costs associated with business expansion and acquisitions [5][6] - The company has successfully integrated Tongtuo Technology, which contributed 677 million yuan in revenue for Q3 2024, marking a turnaround to profitability. Meanwhile, Yibai Network's revenue grew by 9.2% year-on-year to 1.91 billion yuan [5][6] - The company is actively expanding into emerging platforms, with notable revenues from Temu (91.58 million yuan), TikTok (110 million yuan), and Walmart (100 million yuan) [7] Financial Performance Summary - For the first three quarters of 2024, the company achieved a total revenue of 6.115 billion yuan, reflecting a year-on-year growth of 28.75%. The net profit attributable to shareholders for the same period was 189 million yuan, down 36.74% year-on-year [5][6] - The company expects revenues for 2024, 2025, and 2026 to be 9.04 billion yuan, 12.149 billion yuan, and 13.912 billion yuan, respectively, with year-on-year growth rates of 38.7%, 34.4%, and 14.5% [8][11] - The projected net profit for the same years is 336 million yuan, 459 million yuan, and 581 million yuan, with growth rates of 1.1%, 36.8%, and 26.4% respectively [8][11] Revenue Breakdown - The company's revenue from cross-border e-commerce is projected to reach 7.937 billion yuan in 2024, with a year-on-year growth of 39.4% [9] - The comprehensive service revenue from cross-border e-commerce is expected to grow to 1.1 billion yuan in 2024, reflecting a 40% increase [9] Valuation and Market Position - The company is valued at a price-to-earnings (P/E) ratio of 18-22 times for 2024, suggesting a reasonable market capitalization range of 6.047 billion to 7.391 billion yuan [7][8] - The average P/E ratio of comparable companies is around 20.3 times for 2024 [10]

Investment Rating - The report maintains a "Recommended" rating for the company [4]. Core Views - The company is experiencing pressure on its performance, with expectations for improved profitability following the consolidation of Tongtuo Technology. The revenue for the first three quarters of 2024 reached 6.115 billion yuan, a year-on-year increase of 28.75%, while the net profit attributable to the parent company was 189 million yuan, a year-on-year decrease of 36.74% [2][4]. - The third quarter of 2024 saw a revenue of 2.596 billion yuan, a year-on-year increase of 47.72%, primarily due to the consolidation of Tongtuo Technology, which achieved a revenue of 677 million yuan and turned profitable [2][4]. - The company is actively expanding its overseas e-commerce presence through platforms like Temu, TikTok, and Walmart, with significant revenue contributions from these channels [2][4]. Financial Performance Summary - For the first three quarters of 2024, the company reported a gross margin of 35.13%, down 2.68 percentage points year-on-year, and a net profit margin of 3.10%, down 3.20 percentage points year-on-year [2][5]. - The third quarter of 2024 saw a gross margin of 33.03%, down 4.08 percentage points year-on-year, and a net profit margin of 2.11%, down 3.08 percentage points year-on-year [2][5]. - The company anticipates achieving net profits of 297 million yuan, 374 million yuan, and 453 million yuan for the years 2024, 2025, and 2026, respectively, with corresponding PE ratios of 18, 14, and 12 [2][5]. Business Strategy - The company is driven by three main business segments: "General Products + Premium Products + Yimai." The general products segment is expected to grow through regional expansion, while the premium products segment focuses on key categories such as clean appliances and pet supplies [2][4]. - The Yimai platform is aimed at assisting sellers in expanding into overseas markets, capitalizing on the industry's growth opportunities [2][4].

Investment Rating - The report maintains a "Buy" rating for the company [3] Core Views - The company is experiencing stable growth in cross-border business and has achieved profitability through the consolidation of Tongtuo Technology. The revenue for Q3 2024 reached 2.596 billion yuan, a year-on-year increase of 47.72%. The net profit attributable to the parent company for the same period was 55 million yuan, a decrease of 40.01% year-on-year [1][3] - The company is actively expanding into overseas emerging platforms, with significant revenue contributions from Temu (0.092 billion yuan), TikTok (0.109 billion yuan), and Walmart (0.101 billion yuan) in Q1-Q3 2024. The number of cooperative merchants for the Yimai business has increased to 263, a quarter-on-quarter increase of 44 [1] - The company has undergone a management transition, focusing on enhancing its cross-border e-commerce business and leveraging the potential of its core team [1] Financial Summary - For the first three quarters of 2024, the company achieved a total revenue of 6.115 billion yuan, representing a year-on-year growth of 28.75%. The net profit attributable to the parent company was 189 million yuan, down 36.74% year-on-year [1][2] - The projected revenues for 2024-2026 are 9.031 billion yuan, 11.744 billion yuan, and 12.841 billion yuan, respectively, with net profits expected to be 349 million yuan, 474 million yuan, and 620 million yuan [2][10] - The earnings per share (EPS) for 2024-2026 are forecasted to be 0.86 yuan, 1.17 yuan, and 1.53 yuan, with corresponding price-to-earnings (P/E) ratios of 15.0x, 11.1x, and 8.5x [2][10]

Investment Rating - The investment rating for the company is "Buy" (maintained) [4] Core Insights - The company reported a significant increase in revenue for Q3 2024, with a year-on-year growth of 47.72%, primarily driven by the integration of Tongtu Technology and the growth of new business initiatives. However, net profit has been under pressure, declining by 40.01% year-on-year in Q3 [6][4] - The company is actively expanding into overseas e-commerce platforms such as Temu, TikTok, and Walmart, which contributed to its revenue growth. The revenue from these platforms was 91.58 million, 109.27 million, and 100.74 million respectively in Q3 [6] - Despite the short-term profit margin pressure due to increased costs from the integration of Tongtu Technology and new business investments, the long-term outlook remains positive with expected revenue growth of 23.94%, 21.35%, and 17.30% for 2024, 2025, and 2026 respectively [6][7] Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 6.115 billion (up 28.75% year-on-year) and a net profit of 189 million (down 36.74% year-on-year) [2][6] - The gross margin for Q3 2024 was 33.03%, a decrease of 4.08 percentage points year-on-year, while the net margin was 2.13%, down 3.06 percentage points year-on-year [6] - The company’s total inventory reached 2.016 billion by the end of Q3, reflecting a year-on-year increase of 139.06% [6] Revenue and Profit Forecast - The projected revenues for 2024, 2025, and 2026 are 8.078 billion, 9.803 billion, and 11.499 billion respectively, with corresponding growth rates of 23.94%, 21.35%, and 17.30% [7] - The expected net profits for the same years are 342 million, 440 million, and 537 million, with growth rates of 3.09%, 28.49%, and 22.03% respectively [7] - The earnings per share (EPS) are forecasted to be 0.85, 1.09, and 1.33 for 2024, 2025, and 2026 respectively, with price-to-earnings (P/E) ratios of 15.3x, 11.9x, and 9.8x [6][7]

Financial Performance - The company reported a revenue of CNY 2,596,381,621.34 for Q3 2024, representing a 47.72% increase year-over-year[2]. - Net profit attributable to shareholders decreased by 40.01% to CNY 54,749,590.09 in Q3 2024, with a year-to-date decline of 36.74% to CNY 189,283,469.79[2]. - The company's operating revenue for the first nine months of 2024 reached ¥6,115,213,894.62, representing a 28.75% increase compared to the same period last year, primarily due to the consolidation of Tongtuo Technology's revenue growth[8]. - The net profit for the first nine months of 2024 was ¥187,813,617.47, a decrease of 40.94% from the previous year, influenced by increased costs and expenses associated with the acquisition of Tongtuo Technology[9]. - Total operating revenue for Q3 2024 reached ¥6,115,213,894.62, a 28.7% increase from ¥4,749,754,256.78 in the same period last year[23]. - Net profit for Q3 2024 was ¥187,813,617.47, a decrease of 41.0% compared to ¥318,002,970.15 in Q3 2023[23]. - Basic earnings per share decreased to ¥0.4905 from ¥1.0604 in the previous year, reflecting a decline of 53.8%[24]. Assets and Liabilities - The company’s total assets increased by 39.07% to CNY 4,528,293,958.80 compared to the end of the previous year[2]. - The total liabilities increased significantly, with accounts payable rising by 111.12% to ¥895,989,410.53, reflecting increased inventory purchases in preparation for peak season[7]. - The company reported a 123.24% increase in intangible assets to ¥198,765,483.64, attributed to the acquisition of land for the South China headquarters project[7]. - The company’s long-term borrowings increased by 195.96% to ¥503,140,000.00, reflecting new acquisition loans obtained from Shanghai Pudong Development Bank[7]. - Total liabilities reached CNY 2,298,857,493.60, up from CNY 1,122,154,092.45, indicating an increase of approximately 104.0%[22]. - The company's equity attributable to shareholders rose to CNY 2,218,041,345.75 from CNY 2,133,962,523.65, a growth of about 3.9%[22]. Cash Flow - Cash flow from operating activities showed a net outflow of ¥416,818,077.93, a significant decline of 217.39% compared to the previous year, mainly due to increased procurement payments and expenses[10]. - The company's cash and cash equivalents decreased by 44.91% to ¥290,647,833.19 as of September 30, 2024, primarily due to payments made for the acquisition of Tongtuo Technology and increased procurement payments[7]. - The net cash flow from investment activities was -675,354,624.81 CNY, compared to -439,831,534.88 CNY in the previous year[26]. - Cash inflow from financing activities totaled 578,346,264.94 CNY, significantly higher than 230,000,000.00 CNY in the same period last year[26]. - The net cash flow from financing activities was 415,854,143.39 CNY, a turnaround from -159,171,844.64 CNY in the previous year[26]. Operational Highlights - The subsidiary Yibai Network achieved a revenue of CNY 191,230.29 million in Q3 2024, with a quarter-on-quarter growth of 4.86%[5]. - Revenue from emerging platforms such as Temu, Tik Tok, and WalMart reached CNY 9,158 million, CNY 10,927 million, and CNY 10,074 million respectively in Q3 2024[5]. - The company expanded its merchant partnerships on the Yimai Ecological Platform to 263, generating CNY 72,366 million in revenue[5]. - Inventory levels increased by 139.06% compared to the beginning of the year, leading to a rise in warehousing costs by 72.15% to CNY 10,516.02 million[5]. - Management expenses rose due to the employee stock ownership plan and acquisition-related costs, impacting overall profitability[6]. Shareholder and Equity Information - The largest shareholder, Luo Ye, holds 68,194,580 shares, representing a significant portion of the company's equity[14]. - The company has a total of 5% or more shareholders, including Zhou Xinhua with 23,142,658 shares, which is 5.72% of the total shares[14]. - The company reported a total of 14,154,095 restricted shares at the beginning of the period, with 30,345,134 new restricted shares added, resulting in a total of 44,499,229 restricted shares by the end of the period[15]. - The company plans to grant a total of 16.722 million restricted stocks to 114 incentive targets at a price of 9.82 CNY per share[17]. - The company will distribute a cash dividend of 4 CNY per 10 shares, totaling 115,670,248.40 CNY (including tax), based on a total share capital of 289,175,621 shares as of December 31, 2023[17]. Strategic Developments - The company plans to establish a wholly-owned subsidiary in Zhongshan City and purchase land use rights for the construction of its South China headquarters, with the registration completed on February 29, 2024[16]. - The company signed a contract with China Construction Fifth Engineering Bureau for the construction of the South China headquarters project[16]. - The company completed the acquisition of 100% equity of Shenzhen Tongtuo Technology Co., Ltd., making it a wholly-owned subsidiary[18]. - The company disclosed plans for major asset restructuring and the purchase of assets through cash payments[18]. - The company held multiple board meetings to approve significant asset restructuring and the election of new board members[19].

证券代码：300592 证券简称：华凯易佰 公告编号：2024-115 华凯易佰科技股份有限公司 关于对外投资进展的公告 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。 一、对外投资概述 华凯易佰科技股份有限公司（以下简称"公司"或"华凯易佰"）于 2024 年 2月 2日召开第三届董事会第二十九次会议、第三届监事会第二十一次会议， 于 2024 年 3 月 7 日召开 2024 年第一次临时股东大会，审议通过了《关于对外投 资拟设立全资子公司及购买土地使用权的议案》，同意公司在中山市翠亨新区 投资设立全资子公司并购买土地使用权建设华凯易佰华南总部。2024 年 2 月 4 日，公司与中山火炬开发区临海工业园开发有限公司签署《中山翠亨新区项目 投资协议》。具体内容详见公司在巨潮资讯网（www.cninfo.com.cn）披露的 《关于对外投资拟设立全资子公司及购买土地使用权的公告》（公告编号： 2024-007）。公司已完成上述全资子公司广东华凯易佰科技有限公司（以下简 称"广东华凯"）的工商注册登记手续，并取得了中山市市场监督管理局颁发 的营业执照。具体内容 ...

证券代码：300592 证券简称：华凯易佰 公告编号：2024-112 3、本次协议转让未触及要约收购，罗晔女士为公司控股股东、实际控制人 周新华先生的一致行动人，本次协议转让后，公司控股股东、实际控制人由周 新华先生变为无控股股东、无实际控制人。 4、本次协议转让股份事项尚需深圳证券交易所合规性审核，并在中国证券 登记结算有限责任公司深圳分公司办理股份协议转让过户手续。本次交易能否 最终实施完成及实施结果尚存在不确定性，敬请广大投资者注意投资风险。 1 华凯易佰科技股份有限公司 关于持股 5%以上股东拟协议转让股份 暨权益变动的提示性公告 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。 特别提示： 1、华凯易佰科技股份有限公司（以下简称"公司"）持股 5%以上股东罗晔 女士拟将其持有的公司 23,286,559 股无限售流通股股份（占公司全部已发行股 份总数的 5.75%）以协议转让方式转让给胡范金先生，拟将其持有的公司 23,935,420 股无限售流通股（占公司全部已发行股份总数的 5.91%）以协议转让 方式转让给庄俊超先生。本次权益变动后，胡范金先生 ...

华凯易佰科技股份有限公司 简式权益变动报告书 上市公司名称：华凯易佰科技股份有限公司 股票上市地点：深圳证券交易所 股票简称：华凯易佰 股票代码：300592 信息披露义务人：庄俊超 住所/通讯地址：广东省深圳市龙岗区**** 股份权益变动性质：股份增加（协议转让） 签署日期：二〇二四年九月 信息披露义务人声明 一、本报告书系依据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司收购管理办法》《公开发行证券的公司信息披露内容与格式准则第 15 号——权益变动报告书》及相关法律、法规和规范性文件编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定， 本报告书已全面披露信息披露义务人在华凯易佰科技股份有限公司中拥有权益 的股份变动情况。 截至本报告书签署之日，除本报告书披露的信息外，信息披露义务人没有 通过任何其他方式增加或减少其在华凯易佰科技股份有限公司中拥有权益的股 份。 四、本次权益变动是根据本报告书所载明的资料进行的。除信息披露义务 人外，没有委托或者授权任何其他人提供未在本报告书中列载的信息和对本报 告书作出任何解释或者 ...

华凯易佰科技股份有限公司 详式权益变动报告书 上市公司名称：华凯易佰科技股份有限公司 股票上市地点：深圳证券交易所 股票简称：华凯易佰 股票代码：300592 信息披露义务人：胡范金 住所/通讯地址：广东省深圳市南山区**** 股份权益变动性质：股份增加（协议转让） 信息披露义务人一致行动人（一）：罗春 住所/通讯地址：广东省深圳市南山区**** 权益变动性质：不变 信息披露义务人一致行动人（二）：泗阳芒励多企业管理合伙企业（有限合伙） 住所/通讯地址：泗阳县王集镇广州路 8 号 303 室 权益变动性质：不变 签署日期：二〇二四年九月 信息披露义务人及其一致行动人声明 本部分所述词语或简称与本报告书"释义"所述词语或简称具有相同含义。 一、本报告书系依据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司收购管理办法》《公开发行证券的公司信息披露内容与格式准则第 15 号——权益变动报告书》《公开发行证券的公司信息披露内容与格式准则第 16 号——上市公司收购报告书》及相关法律、法规和规范性文件编写。 二、依据《中华人民共和国证券法》《上市公司收购管理办法》《公开发 行证券的公司信息披露内容与格式准 ...