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 年半年度持续督导跟踪报告 | 保荐机构名称：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：杨悦阳 | 联系电话：0571-87902576 | 一、 保荐工作概述 | 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 | 不适用 | | 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 | 是 | | 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 | 公司已于 年 月将节余募 2024 1 集资金永久性补充流动资金， | | （2）公司募集资金项目进展是否与信息披露文件 ...

浙江嘉益保温科技股份有限公司 第三届监事会第五次会议决议公告 本公司及监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。 证券代码：301004 证券简称：嘉益股份 公告编号：2024-042 经出席会议的监事认真审议，表决通过了如下决议： （一）审议通过《关于公司<2024 年半年度报告>及其摘要的议案》 经审议，监事会认为：董事会编制和审核《2024 年半年度报告》及其摘要 的程序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地 反映了公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见公司同日披露于巨潮资讯网（www.cninfo.com.cn）的《2024 年半年度报告》及《2024 年半年度报告摘要》（公告编号：2024-040）。 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票，议案获得通过。 三、备查文件 公司第三届监事会第五次会议决议。 一、监事会会议召开情况 浙江嘉益保温科技股份有限公司（以下简称"公司"）第三届监事会第五次会 议于 2024 年 8 月 14 日在公司会议室召开，会议以现场方式进行召开。会 ...

2024 年半年度非经营性资金占用及其他关联资金往来情况汇总表 | | 杭州镁歌贸易有 限公司 | 全资子公司 | 应收账款 | 1,423.71 | 47.97 | | | 1,471.68 | 销售货物 | 经营性往来 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 浙江武义县汉歌 工贸有限公司 | 全资子公司 | 应收账款 | | 2,505.59 | | | 2,505.59 | 销售货物 | 经营性往来 | | 上市公司的子公司及其附 属企业 | CAYI TECHNOLOGY VIETNAM COMPANY LIMITED | 全资孙公司 | 应收账款 | | 166.56 | | | 166.56 | 销售货物 | 经营性往来 | | | 杭州镁歌贸易有 限公司 | 全资子公司 | 其他应收款 | 401.49 | | | | 401.49 | 往来款及 代垫款 | 非经营性往来 | | | 浙江武义县汉歌 工贸有限公司 | 全资子公司 | 其他应收款 | 2,900.00 | | | | 2,9 ...

证券代码：301004 证券简称：嘉益股份 公告编号：2024-041 浙江嘉益保温科技股份有限公司 第三届董事会第五次会议决议公告 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 浙江嘉益保温科技股份有限公司（以下简称"公司"）第三届董事会第五次会 议通知于 2024 年 8 月 4 日以电子邮件方式发出。会议于 2024 年 8 月 14 日在公 司会议室以现场结合通讯方式进行召开。本次会议由董事长戚兴华先生召集并主 持，应出席董事 8 名，实际出席董事 8 名。董事戚兴华先生、顾代华先生、孔祥 杰先生、傅俊女士、张昕先生采取通讯方式出席本次会议，公司监事和高级管理 人员列席了本次会议。本次会议的召开和表决程序符合《公司法》和《公司章程》 的有关规定，会议合法有效。 二、董事会会议审议情况 经出席会议的董事认真审议，表决通过了如下决议： （一）审议通过《关于公司<2024 年半年度报告>及其摘要的议案》 公司根据《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》及《公司章 ...

Investment Rating - The investment rating for the company is "Buy" with a current price of 77.92 CNY and a fair value of 87.01 CNY, maintaining the previous rating of "Buy" [4]. Core Views - The company is expected to achieve a net profit attributable to shareholders of 3.05-3.25 billion CNY in the first half of 2024, representing a year-on-year increase of 87.06%-99.32%, exceeding market expectations [9]. - The home appliance industry remains at a high level of prosperity, with China's customs data showing a 19.1% year-on-year increase in thermos cup exports from January to May 2024, and a remarkable 36.1% growth in May alone [9]. - The company is experiencing rapid growth alongside major clients, with a projected net profit of 695 million CNY, 867 million CNY, and 1.049 billion CNY for 2024, 2025, and 2026 respectively, reflecting growth rates of 47.3%, 24.8%, and 21.0% [10]. Financial Summary - The company reported a revenue of 1,260 million CNY in 2022, with a projected increase to 1,775 million CNY in 2023, and further growth to 2,499 million CNY in 2024, reflecting a growth rate of 41.0% [11]. - The EBITDA is expected to rise from 316 million CNY in 2023 to 800 million CNY in 2024, indicating strong operational performance [11]. - The net profit is projected to grow from 472 million CNY in 2023 to 695 million CNY in 2024, showcasing a significant increase in profitability [11].

各位投资者大家早上好我是广发清工曹清文今天的话呢主要跟各位投资者汇报一下我们个股深度的本轮第一期关于保温杯的两个重点标的一个是我们前期一直推荐的嘉义股份第二个是我们新增推荐的这个哈尔斯 那么基于这两个标准的同时推荐的我们的基础是在于我们认可这个整个保温杯在海外的一个景气趋势以及所带来的这些中国制造商的出口的趋势那么从客观数据上面我们大概有 这么三类的情况出现第一类的话呢就是我们会发现整个保温杯的出口金额和美国保温杯的这个进口金额基本都处于一个比较景气向上的状态 那么中国的保温杯的出口金额在22年23年和24年的上半年分别是17%8%和20%多的一个增长情况那美国的保温杯的进口金额的话呢相应的来说是68%然后下滑3%和增长39% 这样的一个这三个时间段的增长情况所以我们觉得说可能23年的时候会有一定的下游的这个库存的这样的一些扰动但是24年的恢复趋势还比较好整个三年的增长趋势也都是好于其他的板块 那第二类的话呢我们发现在一些亚马逊的美国亚马逊的这样的一些第三方数据里面像三类品牌然后再包括一些其他的一些算是目前小网红的品牌基本上在美亚的销量都能到翻倍以上所以也是间接去验证了这个行业特别是头部一些标的的这样的一些景 ...

Investment Rating - The investment rating for the company is "Buy" and it is maintained [10] Core Views - The company has exceeded expectations in Q2, with a projected net profit of 198-218 million yuan, representing a year-on-year increase of 80%-102% [6] - The high demand in the thermal cup sector and the realization of scale effects are driving the company's performance beyond expectations [2] - The trend of thermal cups becoming fashionable continues, with the company's global capacity layout and manufacturing advantages enhancing market share [2] - The company benefits from strong marketing and collaborations, transforming thermal cups from durable goods to fast-moving consumer goods [6] Financial Forecasts - The company is expected to achieve revenues of 2.71 billion, 3.40 billion, and 4.15 billion yuan for the years 2024, 2025, and 2026, respectively, with year-on-year growth rates of 53%, 25%, and 22% [7] - The projected net profits for the same years are 707 million, 875 million, and 1.06 billion yuan, with year-on-year growth rates of 50%, 24%, and 21% [7] - The earnings per share (EPS) are forecasted to be 6.80, 8.41, and 10.18 yuan for 2024, 2025, and 2026, respectively [9] Key Financial Metrics - The company’s revenue growth is projected at 40.96% for 2023, 52.65% for 2024, 25.49% for 2025, and 22.06% for 2026 [9] - The net profit growth is expected to be 73.60% for 2023, 49.80% for 2024, 23.67% for 2025, and 21.04% for 2026 [9] - The company’s price-to-earnings (P/E) ratio is projected to be 16.85, 11.25, 9.10, and 7.52 for the years 2023, 2024, 2025, and 2026, respectively [9]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price set above the current price of 76.5 CNY [6][23]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of 305 million to 325 million CNY in the first half of 2024, representing a year-on-year increase of 87.1% to 99.3% [1]. - The growth in performance is attributed to the continuous uptrend in the industry of the company's main products, with a steady increase in customer orders and a focus on enhancing service quality and responsiveness [1][4]. - The company is expanding its production capacity, with projects in Vietnam expected to come online in 2024, which will further enhance its ability to meet customer demand and improve order response capabilities [4][14]. Financial Performance Summary - The company forecasts a net profit of 198 million to 218 million CNY for Q2 2024, reflecting a year-on-year growth of 79.7% to 97.9% [12]. - The projected net profits for 2024 to 2026 are 690 million, 830 million, and 970 million CNY respectively, with corresponding P/E ratios of 12, 10, and 8 times [4]. - Revenue growth rates are projected at 34.66% for 2024, 23.42% for 2025, and 15.83% for 2026 [19]. Industry Context - The market for insulated cups remains robust, with strong growth momentum from major clients, particularly in the U.S. market, where brands like Stanley are effectively leveraging social media for marketing [15]. - The company is adopting measures to mitigate risks from rising shipping costs and currency fluctuations, including a pricing adjustment mechanism linked to exchange rates [2][3].

请务必仔细阅读正文之后的各项信息披露与声明 ⚫ 风险提示：原材料价格大幅波动的风险、汇率波动的风险、国内外环境变化的风险、 大客户销售不及预期的风险。 请务必仔细阅读正文之后的各项信息披露与声明 第2页 共3页 简单金融 成就梦想 信息披露 证券的投资评级： 以报告日后的 6 个月内，证券相对于市场基准指数的涨跌幅为标准，定义如下： 买入（Buy） ：相对强于市场表现 20％以上； 增持（Outperform） ：相对强于市场表现 5％～20％； 中性（Neutral） ：相对市场表现在－5％～＋5％之间波动； 减持（Underperform） ：相对弱于市场表现 5％以下。 行业的投资评级： 以报告日后的 6 个月内，行业相对于市场基准指数的涨跌幅为标准，定义如下： 看好（Overweight） ：行业超越整体市场表现； 中性（Neutral） ：行业与整体市场表现基本持平； 看淡 (Underweight） ：行业弱于整体市场表现。 我们在此提醒您，不同证券研究机构采用不同的评级术语及评级标准。我们采用的是相对评级体系，表示投资的相对比重建议；投 资者买入或者卖出证券的决定取决于个人的实际情况，比如当前的 ...

Investment Rating - The report assigns a "Buy" rating for the company, expecting a relative increase of over 15% in stock price compared to the benchmark index within the next 6 to 12 months [3]. Core Views - The company's performance in Q2 significantly exceeded expectations, primarily due to strong sales from major clients and the release of scale effects. The expected net profit for the first half of 2024 is projected to be between 3.05 billion to 3.25 billion yuan, representing a year-on-year growth of 87.06% to 99.32% [7]. - The company is expected to alleviate capacity bottlenecks in the second half of the year, with the completion of a new production base in Vietnam contributing to increased output. This expansion is anticipated to enhance supply chain stability and deepen cooperation with major clients [7]. - The report highlights that the company's competitive edge is expected to improve further with the production ramp-up in Vietnam, providing a stable source of orders and supporting continued growth [7]. Financial Summary - The company's revenue for 2023 is projected at 1,775 million yuan, with a year-on-year growth rate of 41%. By 2026, revenue is expected to reach 3,387 million yuan, with a growth rate of 16% [2]. - Net profit for 2023 is estimated at 472 million yuan, with a year-on-year growth of 74%. The forecast for 2026 is a net profit of 985 million yuan, reflecting a growth rate of 15% [2]. - Earnings per share (EPS) are projected to increase from 4.54 yuan in 2024 to 9.48 yuan in 2026, indicating a strong upward trend in profitability [2][7].