Investment Rating - The investment rating for the company is "Buy" and is maintained [5]. Core Views - The company is expected to achieve a net profit attributable to shareholders of 7.25-7.45 billion yuan in 2024, representing a year-on-year increase of 54%-58% [3][4]. - In Q4 2024, the net profit is projected to be between 1.94-2.14 billion yuan, with a year-on-year growth of 23%-35% [3][4]. - The growth is supported by the trend of thermal cup popularity and the rapid release of new production capacity [3][4]. Financial Performance Summary - Total revenue for 2024 is estimated at 2,793 million yuan, up from 1,775 million yuan in 2023, indicating a significant growth trajectory [12]. - The gross profit margin is expected to be around 39% in 2024, slightly decreasing from 41% in 2023 [12]. - The company anticipates a net profit of 740 million yuan in 2024, with an EPS of 7.12 yuan [12]. Market Trends and Production Capacity - The North American thermal cup trend continues, with significant sales growth in related products on platforms like Amazon [5]. - The company's production capacity in Vietnam is ramping up, with the first phase already at full capacity and the second phase expected to be operational in 2025 [5]. - The company has implemented a restricted stock incentive plan, reflecting confidence in growth and aiming for substantial revenue and profit increases over the next few years [5].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [5][17]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of 1.9-2.1 billion in Q4 2024, representing a year-on-year growth of 23%-35%. The net profit for the entire year is projected to be 7.3-7.5 billion, reflecting a growth of 54%-58% [1]. - The company's stable growth is attributed to the improving industry conditions, increasing customer orders, and a focus on enhancing service quality and operational efficiency [1]. - The issuance of convertible bonds will fund the expansion of production capacity, particularly in Vietnam, which is expected to enhance supply chain security and meet customer demands more effectively [3]. Financial Projections - The company’s revenue is projected to grow from 1,259.54 million in 2022 to 4,002.21 million by 2026, with a compound annual growth rate (CAGR) of approximately 18.82% [4][12]. - The net profit attributable to shareholders is expected to increase from 271.91 million in 2022 to 1,081.13 million by 2026, indicating a significant growth trajectory [4][12]. - The report anticipates an EBITDA of 900.56 million in 2024, with a steady increase to 1,299.09 million by 2026 [4][12]. Market Position and Strategy - The company is positioned in the light industry manufacturing/home goods sector, focusing on stainless steel vacuum insulated cups, which are experiencing high demand [5]. - The company is enhancing its collaboration with major clients, which is expected to accelerate growth and improve market penetration [4][1]. - The introduction of new product lines and collaborations, such as the Stanley brand, is anticipated to broaden the customer base and enhance brand visibility [2].

Investment Rating - The report does not provide a specific investment rating for the company [1] Core Insights - The company is expected to achieve a net profit attributable to shareholders of 7.25-7.45 billion yuan for the year 2024, representing a year-on-year increase of 53.6% to 57.8%, with a median estimate of 7.35 billion yuan [1] - The fourth quarter net profit is projected to be between 1.94 and 2.14 billion yuan, reflecting a year-on-year growth of 22.6% to 35.3% [1] - The company is experiencing sustained high demand in the industry, with core customers continuing to increase orders, particularly from Stanley, which saw a 55.2% year-on-year increase in sales on Amazon's TOP100 list in Q4 [2] - The company is expanding its production capacity, with an expected addition of 1 billion units in 2024 and further projects in Vietnam [2] Financial Performance Summary - The total revenue for 2022 was 1,260 million yuan, increasing to 1,775 million yuan in 2023, and projected to reach 2,782 million yuan in 2024, representing a year-on-year growth rate of 115.1% in 2022 and 41.0% in 2023 [5] - The net profit attributable to shareholders was 272 million yuan in 2022, expected to rise to 732 million yuan in 2024, with a year-on-year growth rate of 230.9% in 2022 and 73.6% in 2023 [5] - The gross profit margin is projected to be 39.5% in 2024, slightly decreasing from 40.7% in 2023 [5] - The earnings per share (EPS) is expected to increase from 4.54 yuan in 2023 to 7.05 yuan in 2024 [5] Profit Forecast - The forecasted net profits for 2024, 2025, and 2026 are 7.3 billion yuan, 9.1 billion yuan, and 11.0 billion yuan respectively, with corresponding price-to-earnings (PE) ratios of 17.1X, 13.8X, and 11.5X [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's performance in the 2024 earnings forecast is in line with expectations, with a projected net profit of 725-745 million yuan, representing a year-on-year growth of 53.6%-57.8% [6] - The company is expanding its production capacity and successfully acquiring new customers, which is expected to drive revenue growth [6] - The global trend towards the consumption of insulated cups is in its early stages, with significant potential for product line extensions in the medium to long term [6] Financial Data and Profit Forecast - Total revenue is projected to grow from 1,775 million yuan in 2023 to 2,856 million yuan in 2024, reflecting a year-on-year growth rate of 60.9% [5] - The net profit is expected to increase from 472 million yuan in 2023 to 744 million yuan in 2024, with a year-on-year growth rate of 57.7% [5] - The company's earnings per share (EPS) is forecasted to rise from 4.71 yuan in 2023 to 7.17 yuan in 2024 [5] Market and Competitive Landscape - The insulated cup market in the U.S. remains robust, with high demand driven by consumer habits, and the company is well-positioned to benefit from this trend [6] - The company has established a new production base in Vietnam, which is expected to enhance its supply chain efficiency and customer retention [6] - The marketing strategies employed by Stanley, a key client, have successfully transformed insulated cups into fashionable items, further expanding market opportunities [6]

通过对2024年业绩预增50%以上的个股走势进行统计发现，预告发布后当日股价上涨的占比67.59%，股 价发布当日股价涨停的有22家。 预告发布后5日股价上涨的占比70.83%。 证券时报•数据宝统计显示，嘉益股份今日收于120.40元，下跌2.33%，日换手率为0.78%，成交额为 8942.18万元，近5日上涨1.83%。 证券时报网讯，嘉益股份（301004）1月22日发布2024年业绩预增公告，预计实现净利润为7.25亿元 ~7.45亿元，净利润同比增长53.59%~57.83%。 ...

Financial Performance - The net profit attributable to shareholders for 2024 is expected to be between 725 million and 745 million RMB, representing a year-on-year growth of 53.59% to 57.83%[3] - The net profit after deducting non-recurring gains and losses is projected to be between 720 million and 740 million RMB, indicating a year-on-year increase of 54.36% to 58.65%[3] - The financial data in the performance forecast is preliminary and has not been audited by the accounting firm[6] - The specific data for the 2024 annual performance will be detailed in the company's annual report[6] Operational Performance - The company has experienced stable growth in operating performance due to the continuous improvement in industry prosperity and increasing customer orders[5] - The scale effect from the company's expanding operations has led to improved production and operational efficiency through lean management practices[5] Strategic Focus - The company focuses on core business development and enhances cooperation with key customers to improve service quality and response speed[5] - The company emphasizes the importance of cautious decision-making and awareness of investment risks for investors[6]

两融数据显示，该股最新（1月17日）两融余额为4668.23万元，其中，融资余额为4607.68万元，近10日 减少194.24万元，环比下降4.05%。 证券时报网讯，嘉益股份股价创出历史新高，截至9:35，该股上涨2.64%，股价报129.48元，成交量9.43 万股，成交金额1216.45万元，换手率0.10%，该股最新A股总市值达134.49亿元，该股A股流通市值 123.88亿元。 证券时报•数据宝统计显示，嘉益股份所属的轻工制造行业，目前整体涨幅为0.48%，行业内，目前股价 上涨的有83只，涨幅居前的有四通股份、哈尔斯、华源控股等，涨幅分别为10.00%、6.58%、5.92%。 股价下跌的有71只，跌幅居前的有亚振家居、山鹰国际、新宏泽等，跌幅分别为8.15%、7.10%、 4.83%。 ...

保荐人名称：浙商证券股份有限公司 被保荐公司简称：嘉益股份 保荐代表人姓名：罗军 联系电话：0571-87902576 保荐代表人姓名：蒋根宏 联系电话：0571-87902576 现场检查人员姓名：蒋根宏 现场检查对应期间：2024年度 现场检查时间：2024年12月23日 （一）公司治理 是 否 不适用 现场检查手段： 向公司相关部门人员了解公司基本制度的执行情况；查阅公司章程、内部控制制 度、三会议事规则及会议资料；核查董监高变动资料及相关公告；核查股东持股情况；现场查看公 司主要管理场所。 1.公司章程和公司治理制度是否完备、合规 √ 2.公司章程和三会规则是否得到有效执行 √ 3.三会会议记录是否完整，时间、地点、出席人员及会议内容等要件是 否齐备，会议资料是否保存完整 √ 4.三会会议决议是否由出席会议的相关人员签名确认 √ 5.公司董监高是否按照有关法律法规和本所相关业务规则履行职责 √ 6.公司董监高如发生重大变化，是否履行了相应程序和信息披露义务 √ 7.公司控股股东或者实际控制人如发生变化，是否履行了相应程序和信 息披露义务 √ 8.公司人员、资产、财务、机构、业务等方面是否独立 √ 9. ...

二、培训方式及对象 本次培训采用现场及线上会议相结合的方式进行，培训对象包括嘉益股份实 际控制人、董事、监事、高级管理人员及部分相关人员等。 浙商证券股份有限公司 关于浙江嘉益保温科技股份有限公司 2024 年度持续督导培训情况报告 浙商证券股份有限公司（以下简称"保荐机构"）作为浙江嘉益保温科技股 份有限公司（以下简称"嘉益股份"或"公司"）的持续督导保荐人，根据《深 圳证券交易所上市公司自律监管指引第 13 号——保荐业务》的要求，委派保荐 代表人对嘉益股份相关人员进行了培训。 本次培训的具体情况如下： 一、培训时间和主要内容 2024 年 12 月 23 日，项目保荐代表人蒋根宏对公司实际控制人、董事、监 事、高级管理人员及部分相关人员等进行了培训，主要培训内容为新"国九条" 政策介绍，信息披露、短线交易及募集资金管理等规范运作要求，并列举了证券 市场相关违规案例。 1 （本页无正文，为《浙商证券股份有限公司关于浙江嘉益保温科技股份有限公司 2024 年度持续督导培训情况报告》之签章页） 保荐代表人：______________ ______________ 2 罗 军 蒋根宏 浙商证券股份有限公司 年 ...

| 证券代码：301004 | 证券简称：嘉益股份 | 公告编号：2024-079 | | --- | --- | --- | | 债券代码：123250 | 债券简称：嘉益转债 | | 浙江嘉益保温科技股份有限公司 第三届董事会第十二次会议决议公告 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。 一、董事会会议召开情况 （一）审议通过《关于使用募集资金置换预先投入募投项目及已支付发行费 用的自筹资金的议案》 经审议，董事会认为，公司本次拟使用募集资金置换预先投入募投项目及已 支付发行费用的自筹资金事项符合法律法规的规定及发行申请文件的相关安排， 本次募集资金置换时间距离募集资金到账时间未超过 6 个月，符合《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》《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》等法律法规、规范性文件的规定，不影响募投项目的正常 实施，也不存在变相改变募集资金用途的情形。因此，董事会同意公司使用募集 资金置换预先投入募投项目及已支付发行费用的自筹资 ...