Investment Rating - The investment rating for COFCO Technology (301058.SZ) is "Buy" with a current price of 10.14 CNY and a target value of 13.67 CNY [2][4]. Core Insights - The company demonstrated excellent operating cash flow with a net inflow of 433 million CNY in 2023, up from 132 million CNY in 2022. The gross margin, net margin, and ROE for 2023 were 24.74%, 9.29%, and 11.36%, respectively, reflecting significant year-on-year improvements of 4.02, 2.68, and 2.05 percentage points [1][3]. - The mechanical and electrical engineering business maintained stable order revenue, while the grain and oil processing business saw a notable increase in gross margin. New contracts signed in the mechanical engineering sector amounted to 2.178 billion CNY, a year-on-year increase of 1.09%, with revenue of 1.074 billion CNY, down 1.67%, and a gross margin increase of 2.47 percentage points [1][3]. - The company is expected to promote the conversion of design projects in mechanical engineering in 2024, which, combined with an acceleration in business operations, is projected to improve profitability. Forecasted net profits for 2024, 2025, and 2026 are 280 million CNY, 362 million CNY, and 441 million CNY, respectively [4][3]. Financial Summary - In 2023, the company achieved revenue of 2.414 billion CNY, a decrease of 10.51% year-on-year, while the net profit attributable to shareholders was 218 million CNY, an increase of 29.03%. In Q4 2023, revenue was 997 million CNY, down 7.72%, with a net profit of 111 million CNY, up 52.80% [3][4]. - The company signed new contracts worth 3.965 billion CNY in 2023, reflecting a year-on-year increase of 0.53% [3].

Investment Rating - The report adjusts the investment rating to "Accumulate" based on the company's performance and future prospects [4][6]. Core Views - The company achieved operating revenue of 2.4147 billion yuan in 2023, a year-on-year decrease of 10.51%, while the net profit attributable to shareholders increased by 29.03% to 218 million yuan [1]. - Despite a decline in revenue, the company maintained good profit growth, driven by improved gross margins in its main business areas and reduced impairment losses [1][2]. - The company is expected to benefit from ongoing demand for equipment upgrades and the construction of grain storage facilities, indicating strong medium to long-term investment value [1][4]. Summary by Sections Financial Performance - In 2023, the company reported a gross margin of 24.7%, an increase of 4.0 percentage points year-on-year, with a further improvement to 26.7% in Q1 2024 [3]. - The net cash flow from operations significantly improved, reaching 433 million yuan in 2023, an increase of 301 million yuan year-on-year [3][11]. - The company’s new orders totaled 3.965 billion yuan in 2023, a slight increase of 0.53% year-on-year, with notable performance in the electromechanical engineering and design consulting sectors [2]. Revenue and Profitability Forecast - The forecast for net profit attributable to shareholders for 2024-2026 is 270 million yuan, 320 million yuan, and 380 million yuan, respectively, reflecting growth rates of 23%, 19%, and 19% [4][5]. - The company’s earnings per share (EPS) is projected to increase from 0.42 yuan in 2023 to 0.74 yuan in 2026 [5][20]. Valuation Metrics - The company’s price-to-earnings (P/E) ratio is expected to decrease from 25.25 in 2023 to 14.46 in 2026, indicating potential for valuation improvement [5][20]. - The price-to-book (P/B) ratio is projected to decline from 2.77 in 2023 to 2.10 in 2026, suggesting a more attractive valuation over time [5][20].

合并资产负债表 合并利润表 2024 年 1-3 月 | 编制单位：中粮科工股份有限公司 | | 单位：元 | | --- | --- | --- | | 项目 | 本期发生额 | 上期发生额 | | 一、营业总收入 | 358,160,724.23 | 427,010,896.99 | | 其中：营业收入 | 358,160,724.23 | 427,010,896.99 | | 利息收入 | | | | 已赚保费 | | | | 手续费及佣金收入 | | | | 二、营业总成本 | 331,759,817.63 | 389,232,700.96 | | 其中：营业成本 | 262,494,538.49 | 326,442,783.57 | | 利息支出 | | | | 手续费及佣金支出 | | | | 退保金 | | | | 赔付支出净额 | | | | 提取保险责任准备金净额 | | | | 保单红利支出 | | | | 分保费用 | | | | 税金及附加 | 2,733,964.18 | 2,974,410.42 | | 销售费用 | 6,807,688.08 | 4,075,765.21 | | ...

关于中粮科工股份有限公司 继续使用部分闲置募集资金进行现金管理的核查意见 中国国际金融股份有限公司（以下简称"保荐机构"）作为中粮科工股份有 限公司（以下简称"中粮科工"或"公司"）持续督导工作的保荐机构，根据《中 华人民共和国公司法》《中华人民共和国证券法》《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（2023 年 8 月修订）》《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（2023 年 12 月修 订）》《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》 《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》等相关法律法 规和规范性文件的要求，对中粮科工继续使用部分闲置募集资金进行现金管理的 事项进行了审慎核查，具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意中粮工程科技股份有限公司首次公开 发行股票注册的批复》（证监许可〔2021〕2060 号）核准（自 2022 年 9 月 21 日 起，公司全称由"中粮工程科技股份有限公司"变更为"中粮科工股份有限公司"）， 中粮科工公开发行人民币普通股（A 股 ...

Financial Performance - Sales expenses decreased by 10.02% to ¥22,951,152.17 from ¥25,507,502.37 due to enhanced cost control measures[1] - Management expenses decreased by 7.01% to ¥152,342,645.74 from ¥163,820,865.93, reflecting improved expense management[1] - Financial expenses decreased by 16.72% to -¥14,928,192.51 from -¥17,925,986.60 due to reduced fundraising and lower bank deposit interest rates[1] - The total cash inflow from operating activities in 2023 was approximately CNY 3.24 billion, a decrease of 2.52% compared to CNY 3.32 billion in 2022[9] - The net cash flow generated from operating activities increased significantly by 227.63% to CNY 432.67 million in 2023, compared to CNY 132.06 million in 2022[9] - The total investment amount in 2023 was CNY 143.03 million, a decrease of 30.21% from CNY 204.95 million in the previous year[15] - The net increase in cash and cash equivalents was CNY 262.98 million, a significant increase of 308.42% compared to CNY 64.39 million in 2022[9] - The company reported a revenue of RMB 604,350,000.00 for Wuxi Zhongliang Engineering Technology Co., Ltd., a decrease of 11.41% year-on-year, while net profit increased by 5.05% to RMB 78,762,800.00[20] - The company’s operating revenue for 2023 was approximately ¥2.41 billion, a decrease of 10.51% compared to ¥2.70 billion in 2022[94] - Net profit attributable to shareholders for 2023 was approximately ¥217.69 million, an increase of 29.03% from ¥168.71 million in 2022[94] - The company reported a significant focus on compliance with relevant laws and regulations, ensuring effective governance and operational oversight[56] Research and Development - R&D expenses increased by 17.45% to ¥134,048,128.66 from ¥114,134,427.11, indicating a stronger investment in research and development[1] - The number of R&D personnel increased by 28.78% to 631 in 2023, up from 490 in 2022, with R&D personnel accounting for 26.76% of the total workforce[7] - The company is currently developing self-cleaning technology for scraper conveyors, which is expected to generate ongoing economic benefits of no less than CNY 2 million[7] - The company aims to enhance competitiveness in the digital creative industry through the development of AI technologies and new product innovations[7] - The company invested approximately ¥165.32 million in R&D in 2023, representing 6.85% of its operating revenue, an increase from 5.29% in 2022[194] - The company is focused on developing new technologies and processes to achieve zero emissions during the drying process, targeting a 30% reduction in drying losses[188] Market and Competitive Position - The company is developing six new sets of intelligent and environmentally friendly large circulation heat pump grain drying equipment, enhancing competitiveness in the grain storage sector[1] - The company is enhancing its competitiveness in the high-end equipment manufacturing sector through the development of MMV-type milling machines, with three prototypes already produced[4] - The company aims to become an industry benchmark by implementing a "1345" strategy, focusing on technology service and high-end equipment manufacturing in the agricultural and cold chain logistics sectors[23] - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency[85] - The company is exploring potential mergers and acquisitions to strengthen its market position[85] - The company is actively planning for future overseas business expansion and has outlined specific measures for state-owned enterprise reform[25] Contracts and Revenue Generation - The company signed 3 contracts related to AI-based image recognition technology for grain storage, totaling CNY 8.82 million, indicating strong market interest[7] - The company anticipates generating additional contract amounts of ¥300-500 million from the L-lactic acid production project[4] - The company signed new contracts worth 3.965 billion yuan in 2023, a year-on-year increase of 0.53%; domestic contracts accounted for 91.76% of the total[166] - New contracts in the grain and oil processing industry amounted to 3.339 billion yuan, representing 84.22% of total new contracts, with a growth of 5.22% year-on-year[167] Governance and Management - The company has established strict protocols for the use of raised funds, ensuring compliance with regulatory agreements and maintaining dedicated accounts for fund management[17] - The company has a complete production, operation, sales, and procurement system, operating independently from its controlling shareholders[35] - The company has a diverse board with independent directors actively participating in governance and oversight roles[56] - The company’s independent directors have provided independent and fair opinions on major financial matters, enhancing transparency[56] - The company has implemented a remuneration scheme for directors and senior management based on performance and industry benchmarks[50] Technological Innovation - The company is working on a fully automated three-dimensional cold storage system to improve efficiency and reduce costs in cold chain logistics[4] - The development of a digital twin operation and maintenance platform for smart cold chain logistics is aimed at addressing management inefficiencies in traditional logistics parks[4] - The company is developing a smart control technology for grain storage that aims to reduce dust emissions by over 20% and improve grain quality retention above 80%[188] - The intelligent control system for grain storage aims to enhance operational efficiency and improve management quality through real-time data monitoring and standardized data collection[188] - The company has successfully developed cloud data-based grain drying technology, which has been recognized with a second-class award from the China Grain and Oil Society[159] Investment and Financial Management - The company raised a total of RMB 361,958,000.00 through the issuance of 101,960,000 shares at RMB 3.55 per share, with a net amount of RMB 308,856,270.65 after deducting issuance costs[17] - The company has completed the 2023 internal audit work plan and the third quarter report was approved by the audit committee[58] - The company has proposed to continue using part of the idle raised funds for cash management[58] - The company has a cash balance of ¥1.60 billion at the end of 2023, accounting for 38.16% of total assets, up from 35.40% at the beginning of the year[197] Industry Outlook - The grain storage logistics industry is expected to see significant demand growth due to national policies aimed at modernizing grain storage facilities, with a target of building 60,000 storage facilities by 2030[111] - The cold chain logistics market is rapidly expanding, driven by the growth of fresh e-commerce and the demand for high-quality cold chain infrastructure[113] - The government has introduced policies to enhance grain production layout and promote the construction of high-standard grain warehouses, ensuring food security[115] - The company aims to leverage advancements in technology to drive the development of the grain processing industry towards high-end, intelligent, and green solutions[114]

中粮科工股份有限公司 董事会审计委员会关于会计师事务所 2023 年度履职情况 评估及履行监督职责情况报告 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治理 准则》《国有企业、上市公司选聘会计师事务所管理办法》《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（2023 年 12 月修订）》 等法律法规、规范性文件以及《公司章程》等规定和要求，中粮科工股份有限公 司（以下简称"公司"）董事会审计委员会本着勤勉尽责的原则，恪尽职守，认 真履职。现将董事会审计委员会对会计师事务所 2023 年度履职评估及履行监督 职责的情况汇报如下： 一、2023 年年审会计师事务所的基本情况 （一）会计师事务所基本情况 名称：信永中和会计师事务所（特殊普通合伙）成立日期：2012 年 3 月 2 日（京财会许可【2011】0056 号） 组织形式：特殊普通合伙企业 二、2023 年年审会计师事务所履职情况 按照《审计业务约定书》，遵循《中国注册会计师审计准则》和其他执业规 范，及公司 2023 年年报工作安排，信永中和对公司 2023 年度财务报告进行了审 计并出具了标准无保留意见的审 ...

证券代码：301058 证券简称：中粮科工 公告编号：2024-007 二、董事会会议审议情况 会议根据《公司法》和《公司章程》的规定，一致通过如下决议： （一）审议通过《关于公司 2023 年度董事会工作报告的议案》 2023 年，公司董事会严格按照法律法规及《公司章程》的相关规定，切实 履行股东大会赋予的董事会职责，勤勉尽责地开展各项工作，促进公司持续、健 康、稳定的发展。 中粮科工股份有限公司 第二届董事会第十次会议决议公告 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。 一、董事会会议召开情况 中粮科工股份有限公司（以下简称"公司"）第二届董事会第十次会议于 2024 年 4 月 19 日于公司会议室以现场表决方式召开。本次会议的通知已于 2024 年 4 月 9 日通过电子邮件的方式送达全体董事。会议应到董事 8 名，实到董事 7 名， 董事石勃先生、叶雄先生、李晓虎先生、段玉峰先生、陈良先生、林云鉴先生、 潘思轶先生均以现场方式参加，董事长由伟先生因工作原因未能亲自出席本次会 议，书面委托公司董事叶雄先生代为表决。经全体董事共同推举，本次会议 ...

中粮科工股份有限公司 2023 年度 非经营性资金占用及其他关联资金往来的 专项说明 | 索引 | 页码 | | --- | --- | | 专项说明 | 1-2 | | 非经营性资金占用及其他关联资金往来情况汇总表 | 1-6 | 1 | 信念 中和会社师审 含 所 北京市东城区 朝阳 北大街 联系电话: +86 (010) 6554 2288 | | | --- | --- | | 8 号富华大厦 A 座 9 层 | telephone: +86 (010) 6554 2288 | | 9/F, Block A, Fu Hua Mansion, No.8, Chaoyangmen Beidajie, ShineWing 传真: Dongcheng District, Beijing, | +86 (010) 6554 7190 | | certified public accountants 100027, P.R.China | facsimile: +86 (010) 6554 7190 | 关于中粮科工股份有限公司 2023 年度非经营性资金占用及其他关联资金往来的专项说明 XYZH/2024QDA ...

证券代码：301058 证券简称：中粮科工 公告编号：2024-011 中粮科工股份有限公司 关于公司 2023 年度利润分配预案的公告 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。 在保障公司健康持续发展的前提下，遵照中国证监会鼓励分红的有关规定、 《公司章程》及首次公开发行上市前分红回报规划的相关内容，同时考虑到公司 未来业务发展需要，公司本年度利润分配预案为：拟以 2023 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 1 例进行相应调整。 二、利润分配预案的合法性、合规性 本次利润分配综合公司目前的经营情况以及长远发展，充分考虑了广大投资 者的合理诉求和投资回报，与公司经营业绩及未来发展相匹配，符合公司的发展 规划。本次利润分配符合《 ...

股票代码：301058.SZ 2023 中粮科工股份有限公司 环境、社会与治理(ESG)报告 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT CONTENTS 目录 | 报告编制说明 | 03 | | --- | --- | | 董事长致辞 | 05 | | 关于中粮科工 | 07 | | 公司介绍 | 09 | | 业务介绍 | 11 | | 企业文化 | 13 | | 经营业绩 | 14 | | 资质荣誉 | 14 | | ESG策略与管理 | 15 | | --- | --- | | ESG管理 | 17 | | 利益相关方沟通 | 18 | | 重要性议题讨论 | 19 | | 完善公司治理 | 21 | | --- | --- | | 聚力强"根"铸"魂" | 23 | | 筑牢治理根基 | 24 | | 严守廉洁底线 | 26 | | 加强内部控制 | 27 | | 优化合规风控 | 29 | | 保护投资者权益 | 31 | | 履行环保责任 | 33 | | --- | --- | | 加强环境管理 | 35 | | 高效利用能源 | 36 | | 强化 ...