Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is expected to benefit from the gradual establishment of key cold chain logistics bases, which will enhance the focus on its cold chain engineering business [5][7] - The company has a strong positioning advantage in the grain storage and cold chain sectors, with projected net profits for 2025-2027 being CNY 282 million, CNY 357 million, and CNY 440 million respectively [7][8] Financial Summary - Closing price as of June 9, 2025, is CNY 11.08 [4] - Total market capitalization is CNY 5,676 million [4] - Revenue projections for 2023 to 2027 are CNY 2,414 million, CNY 2,652 million, CNY 3,234 million, CNY 3,975 million, and CNY 4,916 million, with growth rates of -10.51%, 9.84%, 21.95%, 22.89%, and 23.69% respectively [6][8] - Net profit attributable to shareholders is projected to grow from CNY 218 million in 2023 to CNY 440 million in 2027, with growth rates of 29.03%, 7.34%, 20.67%, 26.65%, and 23.17% respectively [6][8] - The company’s return on equity (ROE) is expected to increase from 10.97% in 2023 to 15.94% in 2027 [6][8] - The price-to-earnings (P/E) ratio is projected to decrease from 26.07 in 2023 to 12.90 in 2027 [6][8]

证券代码：301058 证券简称：中粮科工 公告编号：2025-044 中粮科工股份有限公司 2024 年年度权益分派实施公告 本公司及董事会全体成员保证本公告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。 中粮科工股份有限公司（以下简称"公司"）2024 年年度权益分派方案已 获 2025 年 5 月 16 日召开的 2024 年度股东会审议通过，现将权益分派事宜公告 如下： 一、股东会审议通过利润分配方案的情况 1.公司 2024 年度股东会审议通过的利润分配方案为：以 2024 年 12 月 31 日 公司总股本 512,274,245.00 股为基数，向全体股东每 10 股派发现金红利 1.50 元 （含税），合计派发现金股利 76,841,136.75 元（含税），剩余未分配利润结转 以后年度分配。本次分配，不送红股，不以公积金转增股本。如公司在实施权益 分派的股权登记日前公司总股本发生变动，将按照现金分红总额不变的原则对分 配比例进行相应调整。 2.自分配方案披露至实施期间，公司股本总额未发生变化。 3.本次实施的分配方案与 2024 年度股东会审议通过的分配方案及其调整原 ...

Core Insights - The grain processing industry is a significant part of agricultural product processing, enhancing the added value of grains and meeting consumer demand for diverse and high-quality food products [1][15][16] - The industry has seen a compound annual growth rate (CAGR) of 4.15%, with revenue projected to grow from 8.8 trillion yuan in 2019 to 10.8 trillion yuan by 2024 [16] - Government policies, including financial subsidies and tax incentives, have provided strong support for the development of the grain processing industry [6][15] Industry Overview - Grain processing involves converting raw grains into semi-finished and finished products, playing a crucial role in the food supply chain [3][10] - The industry includes various processes such as rice milling, wheat flour production, and oil extraction, contributing to improved food quality and reduced waste [4][10] Market Dynamics - The demand for grain processing products has diversified and increased in quality due to rising living standards and changing consumer preferences [1][8] - The market is characterized by competition among large grain processing enterprises, local companies, and foreign firms, each leveraging different strengths [20][21] Financial Performance - The revenue of the grain processing industry is expected to reach approximately 2.6 trillion yuan in the first quarter of 2025 [16] - The scale of major agricultural processing enterprises is projected to reach 18 trillion yuan in 2024, reflecting a year-on-year increase of 2.21% [14] Technological Advancements - Significant progress in technological innovation and equipment upgrades has been made, with the adoption of smart production lines and automated control systems enhancing efficiency and product quality [1][15][25] - Future trends indicate a focus on smart upgrades and the integration of IoT, big data, and AI technologies to improve operational efficiency [25][26] Consumer Trends - Rising disposable income and consumer spending have driven demand for high-quality grain processing products, with expectations for continued growth in this area [8][12] - The industry is responding to increasing consumer demands for health, nutrition, and taste by diversifying product offerings and enhancing quality [28]

Investment Rating - The industry rating is "Outperform the Market" (maintained rating) [5] Core Viewpoints - Infrastructure investment continues to show high growth, with significant increases in water, electricity, fuel, and thermal investments, as well as water conservancy investments, which have seen year-on-year growth rates of +25.5% and +30.7% respectively in the first four months of 2025 [1][2] - The issuance of special bonds has accelerated, with a cumulative increase of 1,190.4 billion yuan in special bonds in the first four months of 2025, an increase of 467.9 billion yuan year-on-year, leading to optimism about the conversion of physical workload in infrastructure [1] - The report emphasizes the cyclical investment opportunities in coal chemical industries and suggests paying attention to the transformation opportunities of certain small and medium-sized construction companies [1] Summary by Sections Real Estate and Construction Data - From January to April 2025, real estate sales area decreased by 2.8% year-on-year, with new construction area down by 23.8% and construction area down by 9.7% [2] - In the same period, the completion area saw a year-on-year decline of 16.9% [2] Cement Industry - Cement production in the first four months of 2025 was 495 million tons, a decrease of 2.8% year-on-year, with April's production down by 5.3% [3] - The average cement shipment rate was 36%, remaining stable year-on-year, but the price pressure continues due to weak market demand [3] Glass Industry - Flat glass production from January to April 2025 was 31.86 million weight boxes, down 4.8% year-on-year, with April's production also declining [4] - The market demand for float glass was weak, leading to increased inventory levels among producers [4]

北京市建国门北大街 8 号华润大厦 20 层 邮编：100005 电话：（86-10）85191300 传真：（86-10）85191350 junhebj@junhe.com 北京市君合律师事务所 关于中粮科工股份有限公司 2024 年度股东会的法律意见书 致：中粮科工股份有限公司 北京市君合律师事务所（以下简称"本所"）接受中粮科工股份有限公司（以 下简称"公司"）的委托，指派徐浩律师、李兴卓律师（以下简称"本所律师"）参 加公司于 2025 年 5 月 16 日下午 14 时在公司会议室召开的 2024 年度股东会（以下 简称"本次股东会"），就本次股东会相关事项的合法性进行了审核和见证，并根据 《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》、《上 市公司股东会规则》（以下简称"《股东会规则》"）、《深圳证券交易所上市公司股东 会网络投票实施细则》（以下简称"《股东会网络投票实施细则》"）等法律、法规、 规范性文件及《中粮科工股份有限公司章程》（以下简称"《公司章程》"）的有关规 定，发表法律意见。 为出具本法律意见书之目的，本所律师根据有关法律法规的规定和要求，按照 律师 ...

二、保荐人发现公司存在的问题及采取的措施 中国国际金融股份有限公司 关于中粮科工股份有限公司 2024 年度跟踪报告 | 保荐人名称：中国国际金融股份有限公司 | 被保荐公司简称：中粮科工 | | --- | --- | | 保荐代表人姓名：许菲菲 | 联系电话：010-65051166 | | 保荐代表人姓名：王珏 | 联系电话：010-65051166 | 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 | 次 0 | | 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 | 是 | | 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 | 12 次（每月一次） | | （2）公司募集资金项目进展是否与信息披露 ...

证券代码：301058 证券简称：中粮科工 公告编号：2025-043 中粮科工股份有限公司 2024 年度股东会决议公告 1.本次股东会未出现否决议案的情形。 2.本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1.会议召开的时间： （1）现场会议时间：2025 年 5 月 16 日（星期五）14:00 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 5 月 16 日 9:15-9:25，9:30-11:30 和 13:00-15:00；通过深圳证券交易所互 联网系统投票的时间为 2025 年 5 月 16 日 9:15-15:00 期间的任意时间。 2.会议地点：公司会议室 3.会议召开方式：本次股东会采用现场表决与网络投票相结合的方式召开。 4.会议召集人：公司董事会 本公司及董事会全体成员保证本公告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。 特别提示： 5.会议主持人：董事长朱来宾先生因工作原因无法亲临现场，以视频方式参 会。为了保障现场会议有序推进，经与会董事过半数推举，本次会议由公司董事、 总经理叶雄先生主持。 6 ...

Core Insights - The company has signed new orders in 2024, with a growth of 9.2%, and cold chain logistics new orders increased by 10.3% [1][4] - The company is a key beneficiary of the rapid growth in China's cold chain logistics industry, deeply serving the modern industrial chain of grain supply security for COFCO Group [5] Financial Performance - The company expects a 7.3% increase in net profit attributable to shareholders in 2024, with operating cash flow growing by 18.7% [2] - Revenue for 2024 is projected to be 2.65 billion yuan, an increase of 9.8%, with a quarterly breakdown showing significant growth in Q4 [2][3] - The gross profit margin for 2024 is estimated at 25.5%, with a slight increase of 0.75 percentage points [3] Order and Contract Details - New contracts signed in 2024 totaled 3.87 billion yuan, reflecting a 9.2% increase compared to the previous year [4] - The breakdown of new contracts includes design consulting at 820 million yuan (up 8.7%), electromechanical engineering system delivery at 2.52 billion yuan (up 19.8%), and equipment manufacturing at 470 million yuan (down 28.0%) [4] Industry Positioning - The company is accelerating its integration into COFCO Group's industrial ecosystem, focusing on high-quality development in core businesses [5] - The company is advancing in the cold chain logistics engineering design field, leading in technology and extending its business into related segments [5] Dividend Policy - The company's annual report proposes a dividend distribution of 0.15 yuan per share, maintaining a payout ratio of 32.9% for the current year [5]

Group 1: Financial Performance - The company achieved an operating revenue of 2.65 billion yuan in 2024, representing a year-on-year growth of 9.84% [1] - The net profit attributable to the parent company was 234 million yuan, an increase of 7.34% compared to the previous year [1] - The company has a stable profit distribution policy and aims to maintain a steady cash dividend ratio to enhance shareholder returns [15] Group 2: Research and Development - The company emphasizes R&D investment as a core driver for growth, with plans to increase R&D spending to enhance overall competitiveness [2] - As of the end of 2024, the company has obtained 685 patents, with 580 being valid patents, and has established 183 national and industry standards [13] Group 3: International Business Expansion - International business revenues from 2022 to 2024 were 67 million yuan, 139 million yuan, and 214 million yuan, accounting for 2.50%, 5.78%, and 8.08% of total revenue, respectively [4] - The company is actively expanding into markets along the "Belt and Road" initiative, with a focus on establishing a unified management system for international operations [4] Group 4: Market Position and Strategy - The company recognizes the seasonal nature of its business, with the fourth quarter typically seeing higher revenue due to project acceptance and settlement [3] - The company is committed to digital transformation and innovation to strengthen its core business and improve operational efficiency [1][10] Group 5: Industry Outlook - The grain storage and logistics industry is expected to see increased demand due to national policies promoting modernization and technological advancements [6] - The company plans to integrate smart technologies into grain storage and logistics to enhance efficiency and sustainability [20]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is expected to benefit from the national large-scale grain storage construction and equipment updates, indicating a solid growth potential in the coming years [6][7] - The company achieved a revenue of 2.652 billion yuan in 2024, representing a year-on-year growth of 9.84%, with a net profit of 234 million yuan, up 7.34% year-on-year [6] - The company is a leader in the domestic grain storage sector, with a forecasted net profit of 282 million yuan for 2025, 358 million yuan for 2026, and 441 million yuan for 2027, corresponding to a price-to-earnings ratio (P/E) of 20, 16, and 13 times respectively [6][7] Financial Summary - The company's total market capitalization is approximately 5,578.67 million yuan, with a closing price of 10.89 yuan per share [3] - The company's revenue projections for 2025, 2026, and 2027 are 3.234 billion yuan, 3.975 billion yuan, and 4.916 billion yuan respectively, with corresponding year-on-year growth rates of 21.95%, 22.89%, and 23.69% [5][7] - The company's gross profit margin for 2024 is projected to be 25.49%, with a slight decrease expected in subsequent years [7]