洛阳新强联回转支承股份有限公司 第四届董事会第十二次会议决议公告 回转支承专业制造 | 证券代码：300850 | 证券简称：新强联 | 公告编号：2024-063 | | --- | --- | --- | | 债券代码：123161 | 债券简称：强联转债 | | 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 鉴于上述注册资本变更情况，同时根据《公司法》《上市公司章程指引》《深圳证 券交易所创业板股票上市规则》等相关法律法规、规范性文件的要求，结合公司实际情 况，拟对《公司章程》中的相关条款进行修订，并提请股东大会授权公司管理层办理本 次相关工商变更登记及章程备案（最终以市场监督管理局核准为准），授权有效期限自 股东大会审议通过之日起至该事项办理完毕之日止。 具体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）上披露的相关公告。 回转支承专业制造 表决结果：同意 6 票，反对 0 票，弃权 0 票。本议案获得通过。 洛阳新强联回转支承股份有限公司（以下简称"公司"）第四届董事会第十二次会 议于 2024 年 12 ...

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。 洛阳新强联回转支承股份有限公司（以下简称"公司"）于 2024 年 12 月 6 日召开 了第四届董事会第十二次会议，审议通过了《关于变更注册资本及修订<公司章程>并办 理工商变更登记的议案》。现将有关情况公告如下： 回转支承专业制造 | 证券代码：300850 | 证券简称：新强联 | 公告编号：2024-065 | | --- | --- | --- | | 债券代码：123161 | 债券简称：强联转债 | | 洛阳新强联回转支承股份有限公司 关于变更注册资本及修订《公司章程》并办理工商变更登记的公告 根据《深圳证券交易所上市公司自律监管指引第2号——创业版上市公司规范运作》 《洛阳新强联回转支承股份有限公司向不特定对象发行可转换公司债券募集说明书》的 相关规定，公司发行的可转债转股期自 2023 年 4 月 17 日至 2028 年 10 月 10 日止。2023 年 12 月 6 日至 2024 年 12 月 5 日期间，共有 1159 张"强联转债"转换为公司股票，累 计转股数为 2993 股，根据转 ...

Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a positive outlook based on anticipated growth in wind power installation demand and recovery in profitability [5][23]. Core Views - The company has reached a performance turning point in Q3, with a significant improvement in profitability compared to previous quarters. The revenue for the first three quarters of 2024 was 1.965 billion yuan, down 6.06% year-on-year, primarily due to a decline in market prices for wind power equipment [2][12]. - The gross margin for Q3 was 18.71%, showing a quarter-on-quarter increase of 6.73%, while the net profit margin was 7.89%, reflecting a recovery in profitability driven by improved cost structures and increased demand from downstream customers [3][14]. - The company has successfully reduced inventory and accounts receivable, with inventory down 14.07% year-on-year to 966 million yuan and accounts receivable down 9.59% to 1.226 billion yuan. The order backlog remains strong at approximately 1.68 billion yuan [4][18]. - The company has achieved breakthroughs in domestic production of offshore main bearings, with ongoing investment projects expected to enhance growth potential. The company anticipates significant production capacity increases in the coming years [20][23]. Summary by Sections Financial Performance - For 2024, the company forecasts a net profit of 0.02 billion yuan, followed by 4.30 billion yuan in 2025 and 4.73 billion yuan in 2026. The current market capitalization corresponds to dynamic P/E ratios of 4932, 20, and 18 times for these years respectively [5][23]. Revenue and Profitability - The company reported a Q3 revenue of 908 million yuan, a year-on-year increase of 3.47% and a quarter-on-quarter increase of 48.63%. The net profit for Q3 was 65 million yuan, marking a return to profitability after previous losses [2][12]. Cost Structure and Efficiency - The gross margin for the first three quarters of 2024 was 16.74%, down 9.90 percentage points year-on-year. The improvement in Q3 was attributed to a slowdown in price declines due to larger wind turbine sizes and a decrease in raw material costs [3][14]. Orders and Inventory Management - As of the end of Q3 2024, the company had a strong order backlog of approximately 1.68 billion yuan, indicating robust future revenue potential despite a decrease in inventory and accounts receivable [4][18]. Technological Advancements - The company has made significant advancements in the production of large power bearings and is expected to achieve substantial production capacity in the coming years, enhancing its competitive edge in the market [20][23].

Group 1: Company Strengths and Market Position - The company has a complete industrial chain layout, including forgings, steel balls, and rollers, which enhances its cost control and product quality [1] - The company is a pioneer in adopting advanced heat treatment processes, such as the non-soft band medium frequency quenching technology, giving it a competitive edge in the industry [1] Group 2: Product Development and Market Demand - The development of gearbox bearings is progressing well, with technical communication and prototype development underway with potential clients, expecting small batch shipments in 2025 [2] - The company anticipates a significant increase in the shipment volume of cone roller spindle bearings in 2025, driven by customer demand and feedback [2] Group 3: Capacity and Order Management - The company currently has a high capacity utilization rate and sufficient orders on hand, with positive feedback from downstream customers for 2025 [2] - The company plans to optimize production lines and improve processes to meet customer delivery requirements based on the delivery schedule [2]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected increase of over 15% relative to the CSI 300 index within the next six months [14]. Core Views - The worst phase for the company has passed, and significant growth in wind power installations is anticipated for the next year, which is expected to drive a reversal in performance [1]. - The company has experienced a decline in revenue and profit due to intensified industry competition and a significant loss in fair value of financial assets [1][4]. - The wind power sector is projected to continue growing, supported by increasing bidding volumes and a commitment to fair competition among industry players [3]. Summary by Sections Company Performance - In the first three quarters of 2024, the company reported revenue of 1.965 billion yuan, a year-on-year decline of 6.06%, with a net profit attributable to shareholders of -36 million yuan, reflecting a 74.52% decrease [1]. - The gross margin for the third quarter was 16.74%, down 9.9 percentage points year-on-year, while the net margin was -1.16%, down 18.13 percentage points [1][12]. Market Dynamics - The wind power industry saw a 16.85% year-on-year increase in new installed capacity, with significant growth in both onshore and offshore wind projects [3]. - The bidding volume for wind power projects has surged, with a 93% increase in new tender capacity, indicating robust future demand [3]. Financial Forecasts - Revenue forecasts for 2024 to 2026 have been adjusted to 2.891 billion, 3.595 billion, and 4.158 billion yuan, respectively, with net profit estimates revised to 50 million, 358 million, and 478 million yuan [4][5]. - The company’s price-to-earnings ratio is projected to be 160.98X for 2024, decreasing to 22.52X and 16.85X in the following years [4][5]. Competitive Position - The company is recognized as a leading player in the domestic wind power bearing market, with a comprehensive product range that includes main shaft bearings and yaw bearings [2]. - The establishment of a full industrial chain, including the acquisition of Saint Jiu Forging, enhances the company's cost control capabilities and competitive advantage [2].

许总 那个请问肖总那边和您一起上线了吗对 我们现在已经上线了好的 那现在六点过一分那张老师要不您这边做一个开场白吧对可以请您这个律师老师各位投资者大家好 今天非常感谢大家参加那个新强联电话会议今天我们也是我是那个彩虹电线的张一池今天我们也是有幸邀请到了新强联的董事长肖总包括我们投关部门的许总跟大家介绍一下公司的一个情况我们也看到公司三季度取得了比较超预期的业绩首先我们把时间交给公司咱们先给大家做一个介绍好的好的张总 现在呢由我为大家做一下我们新强联三季度整体的一个经营情况介绍公司呢一到九月份月收一到九月份收入是19.56亿元净利润是负3600万元扣费净利润是6150万元报告期内呢公司实现营业收入9.08亿元较上年同期增加3.47%净利润是6400 67万元同比下降72.92%扣费净利润是4694万元同比下降60.19%盈利情况变化幅度较大的原因一方面是因为公司交易性金融资产和其他非流动性金融资产供应价值变动导致的亏损另一方面是因为市场 价格的影响导致了毛利率的下降对公司的利润产生了一些营养截至三季度封店类的产品总体营收是3.5亿元较上年同期下降7.4%基本是一个持平的状态单列圆锥组轴层出货数量较上年同期增长了 ...

回转支承专业制造 | 证券代码：300850 | 证券简称：新强联 | 公告编号：2024-062 | | --- | --- | --- | | 债券代码：123161 | 债券简称：强联转债 | | 洛阳新强联回转支承股份有限公司 关于为全资子公司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、担保情况概述 洛阳新强联回转支承股份有限公司（以下简称"公司"）于 2024 年 5 月 28 日召 开第四届董事会第六次会议审议通过了《关于为全资子公司提供担保的议案》，同意 公司为新强联（江苏）重工科技有限责任公司（以下简称"新强联重工"）向上海浦 东发展银行股份有限公司苏州分行申请银行授信提供最高不超过 38500 万元的连带责 任保证，具体担保额度、担保期限以最终签订协议为准，同时授权公司董事长及其委 托代理人根据新强联重工经营实际需要办理上述事项，具体内容详见公司 2024 年 5 月 28 日在巨潮资讯网（www.cninfo.com.cn）上披露的《关于为全资子公司提供担保的公 告》（公告编号：2024-028）。 二、担保进展 ...

Group 1 - The production status of yaw variable pitch, independent pitch, and main shaft bearings is currently operating at full capacity [1] - Gearbox bearings have prototypes that have been completed, with some in the customer acceptance phase; the validation cycle for new products is long, and capacity utilization is expected to improve in the future [1] - The industry has faced product price pressures, but competition is becoming more rational, and product prices are expected to stabilize gradually [1] - With the trend of larger wind turbines, the demand for single-row tapered roller bearings is expected to increase [1]

Group 1: Financial Performance - In the first three quarters of 2024, the company achieved operating revenue of 1.965 billion yuan, a decrease of 6.06% compared to the same period last year [2] - In Q3 2024, the company reported operating revenue of 908 million yuan, an increase of 3.47% year-on-year [2] - The net profit attributable to shareholders of the listed company was -36.0882 million yuan, a decline of 110.63% compared to the previous year [2] - The net profit after deducting non-recurring gains and losses for the first three quarters was 61.5066 million yuan, down 74.52% year-on-year [2] Group 2: Product Performance - Revenue from wind power products in the first three quarters of 2024 was 1.35 billion yuan, a decrease of 6.96% year-on-year [2] - The quantity of single-row tapered roller bearings shipped increased by 79.45% compared to the previous year [2] - The quantity of adjusting roller bearings shipped increased by 434.48% year-on-year [2] Group 3: Market Trends and Strategies - The company is experiencing a shift in customer demand towards double-fed models due to industry changes [3] - The company has enhanced its production capacity for key components, leading to improved self-supply rates since September 2024 [3] - The company is focusing on domestic substitution while exploring overseas markets, with initial engagements at international exhibitions [3]

Core Insights - New Strong Union (新强联) reported significant improvement in Q3 2024, with revenue reaching 9.08 billion yuan, a 48.63% increase quarter-on-quarter [1] - The company achieved a net profit of 469.38 million yuan in Q3, marking a 590.04% increase from the previous quarter [1] - The net cash flow from operating activities surged to 290 million yuan, up 189.97% year-on-year [1] Company Performance - For the first three quarters of 2024, New Strong Union's total revenue was 19.65 billion yuan, with a net profit attributable to shareholders of 61.51 million yuan [1] - The company has established a full industry chain coverage from raw materials to finished products through subsidiaries, enhancing product quality and cost competitiveness [1] - The company is focusing on R&D investments for new technologies and products, which will support future innovation [1] Industry Outlook - China's offshore wind power market is projected to grow from 6.3 GW to 20.0 GW from 2023 to 2033, with a compound annual growth rate (CAGR) of 12.2% [2] - The offshore wind power sector is expected to see accelerated project approvals and construction, marking a significant turning point for the industry [2] - New Strong Union's order backlog was approximately 1.68 billion yuan as of August 2024, with a notable increase in delivery pace in Q3 [3] Market Dynamics - The domestic wind power sector is experiencing robust growth, with a 289.2% increase in offshore wind project tenders in September [3] - Global offshore wind power is also expanding rapidly, particularly in Europe, where the EU aims for 111 GW of cumulative installed capacity by 2030 [3] - New Strong Union is well-positioned to benefit from the high demand in the offshore wind sector due to its technological advantages and early market entry [3]