天阳科技（300872.SZ）/计 算机 证券研究报告/公司点评 2024 年 9 月 11 日 | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------|-----------------------------------------------|---------|---------------------------|-------|---------------------|-------| | [Table_Industry] [Table_Title] 评级：买入（维持） \n市场价格： 10.70 元 | [Table_Finance 公司盈利预测及估值 1] \n指标 | \n2022A | 2023A | 2024E | 2025E | 2026E | | 分析师：闻学臣 | 营业收入（百万元） | 1,975 | 1,936 | 2,133 | 2,376 | 2,672 | | | 增长率 yoy% ...

国海证券股份有限公司 关于天阳宏业科技股份有限公司 2024 年半年度持续督导跟踪报告 一、保荐工作概述 四、其他事项 | 项目 | 工作内容 | | --- | --- | | 1、公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 0 次 | | 2、督导公司建立健全并有效执行规章制度的 | | | 情况 | | | （1）是否督导公司建立健全规章制度（包括 | 是 | | 但不限于防止关联方占用公司资源的制度、 | | | 募集资金管理制度、内控制度、内部审计制 | | | 度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3、募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 2 次 | | （2）公司募集资金项目进展是否与信息披露 | 是 | | 文件一致 | | | 4、公司治理督导情况 | | | （1）列席公司股东大会次数 | 0 次 | | （2）列席公司董事会次数 | 0 次 | | （3）列席公司监事会次数 | 0 次 | | 5、现场检查情况 | | | （1） ...

天阳宏业科技股份有限公司 关于股份回购进展情况的公告 | 证券代码：300872 | 证券简称：天阳科技 | 公告编号：2024-093 | | --- | --- | --- | | 债券代码：123184 | 债券简称：天阳转债 | | 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。 天阳宏业科技股份有限公司（以下简称"公司"）于 2023 年 11 月 3 日召开 第三届董事会第十四次会议审议通过了《关于回购公司股份方案的议案》，同意 公司使用自有资金以集中竞价交易方式回购公司发行的人民币普通股（A 股）， 用于实施员工持股计划或股权激励。回购的资金总额不低于人民币 3,000 万元， 不超过人民币 5,000 万元（均含本数）；回购价格不超过人民币 20.14 元/股（含 本数）；预计回购数量为 1,489,572 股至 2,482,621 股，具体回购股份的数量以回 购结束时实际回购的股份数量为准。 2024 年 2 月 8 日，公司召开第三届董事会第十七次会议，审议通过了《关 于调整回购公司股份方案的议案》，同意对公司第三届董事会第十四次会议审议 ...

| 证券代码：300872 | 证券简称：天阳科技 | 公告编号：2024-085 | | --- | --- | --- | | 债券代码：123184 | 债券简称：天阳转债 | | 天阳宏业科技股份有限公司 本议案无需提交公司股东大会审议。 （二）审议并通过《关于增加募投项目实施主体、实施地点的议案》 第三届监事会第十六次会议决议公告 本公司及监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、监事会会议召开情况 天阳宏业科技股份有限公司（以下简称"公司"）第三届监事会第十六次会 议于 2024 年 8 月 26 日在公司会议室以现场结合通讯方式召开。会议通知及会议 补充通知已分别于 2024 年 8 月 16 日、2024 年 8 月 21 日以通讯或书面形式送达 各位监事。本次会议应到监事 3 人，实到监事 3 人。会议由监事会主席林敏玲女 士主持。本次会议的召集、召开符合《公司法》及《公司章程》的有关规定。 二、监事会会议审议情况 （一）审议并通过《关于<2024 年半年度报告>及其摘要的议案》 经审议，监事会认为：公司《2024 年半年度报告》及其摘要的 ...

Financial Performance - The company's operating revenue for the first half of 2024 was approximately ¥928.60 million, a decrease of 1.14% compared to ¥939.34 million in the same period last year[13]. - The net profit attributable to shareholders increased significantly to ¥91.16 million, representing a growth of 304.11% from ¥22.56 million in the previous year[13]. - Basic earnings per share rose to ¥0.23, up 283.33% from ¥0.06 in the same period last year[13]. - The company reported a net cash flow from operating activities of approximately ¥22.81 million, a 10.22% increase from ¥20.69 million in the previous year[13]. - The net profit from non-recurring gains and losses was ¥22.81 million, compared to ¥20.69 million in the same period last year, indicating stable performance[13]. - The company reported a net profit of 2,280.59 million CNY for the current period, representing a 10.22% increase compared to the same period last year[113]. - The company's current ratio decreased by 28.33% to 4.30, while the quick ratio also fell by 28.28% to 3.93[113]. - The debt-to-asset ratio increased by 3.83% to 39.59% compared to the end of the previous year[113]. - The interest coverage ratio improved significantly to 7.83, a 327.87% increase from the previous year[113]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥4.34 billion, an increase of 7.41% from ¥4.04 billion at the end of the previous year[13]. - The company's net assets attributable to shareholders increased slightly by 1.03% to ¥2.62 billion from ¥2.59 billion at the end of the previous year[13]. - Cash and cash equivalents decreased by 448.91% to -¥540,600,750.25, mainly due to increased external investments[28]. - Accounts receivable increased by 4.34% to ¥1,552,443,220.80, representing 35.80% of total assets, attributed to reduced sales collections[34]. - Short-term borrowings rose significantly by 6.28% to ¥380,000,000.00, now making up 8.76% of total assets, mainly due to increased bank loans[35]. - Total liabilities rose to CNY 1,716,477,767.01 from CNY 1,443,696,564.66, indicating an increase of about 18.9%[117]. - The total current liabilities increased to CNY 777,936,803.81 from CNY 545,807,242.33, reflecting a rise of about 42.5%[117]. Research and Development - Research and development investment increased by 30.56% to ¥172,909,532.60, primarily due to increased investment in R&D projects[28]. - The company emphasized refined management and increased R&D investment to enhance project delivery efficiency and quality[19]. - The company plans to enhance R&D investment and strengthen project management to mitigate risks associated with rapid technological changes in the IT solutions sector[57]. - Research and development expenses decreased to CNY 68,536,704.83 in the first half of 2024 from CNY 115,909,222.59 in the same period of 2023, a reduction of 40.8%[120]. Market Position and Strategy - The company ranked fourth in the overall market share of IT solutions for the banking industry in China, according to the 2023 report by CCID Consulting[19]. - The company maintained its leading position in the credit card market, with credit card solutions ranking first for five consecutive years[19]. - The company is focusing on digital transformation and innovation, with significant investments in key banking business and technology areas[19]. - The company has established partnerships with over 300 financial industry clients, covering all major domestic banks[26]. - The company aims to leverage cutting-edge technologies like AI and big data to enhance its competitive edge in existing business areas[26]. Shareholder and Dividend Information - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[3]. - The profit distribution plan for 2023 includes a cash dividend of RMB 0.50 per 10 shares, based on a total share base of 400,083,581 shares[94]. - The company has repurchased a total of 4,346,480 shares, with a total transaction amount of RMB 50,063,158, as part of its plan to enhance investor confidence[20]. Risk Management - The company faces various risks including market competition and potential impairment of goodwill, which are detailed in the risk management section of the report[3]. - The company aims to enhance its product R&D and pricing capabilities to strengthen its market position and competitiveness[56]. - The company will continue to strengthen the management of accounts receivable to minimize the risk of bad debts[58]. Corporate Governance and Compliance - The company has not encountered any violations regarding the use of raised funds, with all funds used within the approved time limits[47]. - The company reported no significant environmental penalties or issues during the reporting period[70]. - There were no major litigation or arbitration matters affecting the company in the reporting period[72]. - The company has maintained compliance with all regulatory commitments and has no overdue commitments as of the reporting date[71]. Investment and Capital Expenditures - The total investment amount for the reporting period was ¥212,249,994.50, marking a significant increase of 203.21% compared to the previous year[38]. - The company has committed to projects with a total investment of RMB 158,370 million, with RMB 12,254.14 million invested during the reporting period[44]. - The company has approved the use of up to RMB 1.79 billion of temporarily idle raised funds and self-owned funds for cash management, including investments in safe and liquid financial products[48]. Subsidiaries and Organizational Structure - Major subsidiaries include Beijing Yinheng Tong Electronic Technology Co., Ltd., with a net profit of 2,738,072.58 RMB, contributing over 10% to the company's net profit[54]. - The company has established several new subsidiaries during the reporting period, including Shenzhen Zhice Yingke Digital Technology Co., Ltd., with no significant impact on overall operations[55]. - The company operates primarily in the information technology sector, providing software development and technical services to financial institutions[140]. Financial Reporting and Accounting Policies - The financial statements have been prepared in accordance with the accounting standards issued by the Ministry of Finance[146]. - The company will measure the assets and liabilities acquired in a business combination at the carrying amount in the consolidated financial statements of the ultimate controlling party[151]. - The company assesses the extent of risks and rewards retained when transferring financial assets to determine derecognition[165].

| 证券代码：300872 | 证券简称：天阳科技 | 公告编号：2024-086 | | --- | --- | --- | | 债券代码：123184 | 债券简称：天阳转债 | | 天阳宏业科技股份有限公司 2024 年半年度募集资金存放与使用情况的专项报告 经中国证券监督管理委员会证监许可[2023]47 号文同意注册，并经深圳证券交易所同意， 本公司由主承销商国海证券股份有限公司于 2023 年 3 月 23 日向不特定对象发行可转换公司 债券 975 万张，每张面值 100 元，发行总额人民币 97,500.00 万元。截至 2023 年 3 月 29 日止， 本公司共募集资金 975,000,000.00 元，扣除发行费用 11,984,198.11 元，募集资金净额 963,015,801.89 元。 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、 募集资金基本情况 （一）首次公开发行股票募集资金情况 经中国证券监督管理委员会证监许可[2020]1653 号文同意注册，并经深圳证券交易所同 意， 本公司由主承销商光大证券股份有限公司于 2 ...

☑ 是 □ 否 | 证券代码：300872 | 证券简称：天阳科技 公告编号：2024-088 | | --- | --- | | 债券代码：123184 | 债券简称：天阳转债 | 天阳宏业科技股份有限公司 独立董事候选人声明与承诺 声明人成艳华作为天阳宏业科技股份有限公司第三届董事会独立董事候选 人，已充分了解并同意由提名人天阳宏业科技股份有限公司董事会提名为天阳宏 业科技股份有限公司（以下简称该公司）第三届董事会独立董事候选人。现公开 声明和保证，本人与该公司之间不存在任何影响本人独立性的关系，且符合相关 法律、行政法规、部门规章、规范性文件和深圳证券交易所业务规则对独立董事 候选人任职资格及独立性的要求，具体声明并承诺如下事项： 一、本人已经通过天阳宏业科技股份有限公司第三届董事会提名委员会或者 独立董事专门会议资格审查，提名人与本人不存在利害关系或者其他可能影响独 立履职情形的密切关系。 ☑ 是 □ 否 如否，请详细说明：_____________________________ 二、本人不存在《中华人民共和国公司法》第一百四十六条等规定不得担任 公司董事的情形。 如否，请详细说明：________ ...

国海证券股份有限公司 关于天阳宏业科技股份有限公司 增加募投项目实施主体、实施地点事项的核查意见 国海证券股份有限公司（以下简称"国海证券"或"保荐机构"）作为天阳 宏业科技股份有限公司（以下简称"天阳科技"或"公司"）持续督导的保荐机 构，根据《证券发行上市保荐业务管理办法》《深圳证券交易所创业板股票上市 规则》《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》《上市公司监管指引第 2 号—上市公司募集资金管理和使用的监管要求》 等法律法规的相关规定，对天阳科技增加募投项目实施主体、实施地点事项进行 了核查，并出具本核查意见： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意天阳宏业科技股份有限公司向不特定 对象发行可转换公司债券注册的批复》（证监许可〔[2023]47 号〕同意注册，公 司向不特定对象发行可转换公司债券 975 万张，每张面值为人民币 100.00 元， 募集资金总额为人民币 97,500.00 万元，期限 6 年。扣除各项发行费用（不含税） 后实际募集资金净额为人民币 96,301.58 万元。公司募集资金已于 2023 年 3 月 29 日划至公司指定 ...

| 证券代码：300872 | 证券简称：天阳科技 | 公告编号：2024-089 | | --- | --- | --- | | 债券代码：123184 | 债券简称：天阳转债 | | ☑ 是 □ 否 如否，请详细说明：______________________________ 三、被提名人符合中国证监会《上市公司独立董事管理办法》和深圳证券交 易所业务规则规定的独立董事任职资格和条件。 天阳宏业科技股份有限公司 独立董事提名人声明与承诺 提名人天阳宏业科技股份有限公司董事会现就提名成艳华为天阳宏业科技 股份有限公司第三届董事会独立董事候选人发表公开声明。被提名人已书面同意 作为天阳宏业科技股份有限公司第三届董事会独立董事候选人（参见该独立董事 候选人声明）。本次提名是在充分了解被提名人职业、学历、职称、详细的工作 经历、全部兼职、有无重大失信等不良记录等情况后作出的，本提名人认为被提 名人符合相关法律、行政法规、部门规章、规范性文件和深圳证券交易所业务规 则对独立董事候选人任职资格及独立性的要求，具体声明并承诺如下事项： 一、被提名人已经通过天阳宏业科技股份有限公司第三届董事会提名委员会 或者独立董事专 ...

| | | 占用方与上市公 | 上市公司核算 | 2024 年期 | 2024 年半年度占 | 2024年半年度占 | 2024年半年度偿还 | 2024年半年度期末 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 司的关联关系 | 的会计科目 | 初占用资 金余额 | 用累计发生金额 （不含利息） | 用资金的利息 （如有） | 累计发生金额 | 占用资金余额 | 占用形成原因 | 占用性质 | | 控股股东、实际控制人及其附 属企业 | 无 | 无 | 无 | - | - | - | - | - | 无 | 无 | | 小计 | — | — | — | - | - | - | - | - | — | — | | 前控股股东、实际控制人及其 附属企业 | 无 | 无 | 无 | - | - | - | - | - | 无 | 无 | | 小计 | — | — | — | - | - | - | - | - | — | — | | 其他关联方及其附属企业 | 无 | ...