[盈利预测与财务指标 Table_Forcast] ➢ 事件：公司发布 2023 年年报及 2024 年一季报。1）2023 年：2023 年公 司实现营收 55.4 亿元，同比+15.5%，归母净利润 3.8 亿元，同比+37.7%，扣 非归母净利 3.7 亿元，同比+50.6%；2）2023Q4：实现营收 15.7 亿元，同比 +37.2%，环比+3.4%，归母净利 1.4 亿元，同比扭亏为盈，环比-14.4%，扣非 归母净利 1.3 亿元，同比扭亏为盈，环比-18.9%；3）分红：2023 年度公司拟每 10 股派发现金红利 15.0 元（含税），现金分红总额 4.4 亿元，分红率约 115.8%； 4）2024Q1：实现营收 15.2 亿元，同比+38.9%，环比-3.6%，归母净利 1.4 亿 元，同比+1700.0%，环比+5.1%，扣非归母净利 1.4 亿元，同比+2331.0%， 环比+9.3%，业绩持续改善。 ➢ 铜产品表现亮眼，钴产品营收、毛利占比下滑。2023 年铜产品实现营收 28.1 亿元，同比+70.4%，营收占比提升至 50.6%，钴产品实现营收 25.1 亿元，同比 -15.6 ...

Investment Rating - The report maintains a "Cautious Recommendation" rating for the company [30][21]. Core Views - The company reported a revenue of 5.54 billion yuan in 2023, a year-on-year increase of 15.5%, and a net profit attributable to shareholders of 0.38 billion yuan, up 37.7% year-on-year [49][30]. - In Q1 2024, the company achieved a revenue of 1.52 billion yuan, representing a year-on-year increase of 38.9%, and a net profit of 0.14 billion yuan, which is a significant increase of 1700% year-on-year [4][49]. - The company is expanding its production capacity in copper, cobalt, lithium, and nickel, with a positive long-term outlook for copper prices and a significant drop in cobalt prices [21][30]. Summary by Sections 1. Event Overview - The company released its 2023 annual report and Q1 2024 report, showing strong revenue and profit growth [63][30]. - The proposed cash dividend for 2023 is 15.0 yuan per 10 shares, totaling 0.44 billion yuan, with a dividend payout ratio of approximately 115.8% [49][30]. 2. Operational Analysis - Copper products performed exceptionally well, with revenue of 2.81 billion yuan, a year-on-year increase of 70.4%, and accounting for 50.6% of total revenue [49][30]. - Cobalt product revenue decreased by 15.6% year-on-year to 2.51 billion yuan, primarily due to falling cobalt prices [49][30]. - Nickel and lithium products began sales for the first time, generating revenues of 0.05 billion and 0.01 billion yuan, respectively [49][30]. - The company’s copper production and sales reached 50,000 and 49,000 tons, respectively, with significant increases in profitability [11][49]. 3. Future Outlook - The company is focused on expanding production capacity and developing a closed-loop industry chain for secondary resources [17][21]. - In the Democratic Republic of Congo, the company has established a production capacity of 50,000 tons of copper and 10,000 tons of cobalt, with further expansions planned [18][21]. - The company’s long-term plans include significant increases in production capacity for cobalt, nickel, and lithium [21][43]. 4. Investment Recommendations - The company’s ongoing expansion projects in copper, cobalt, lithium, and nickel are expected to maintain profitability, with projected net profits of 0.70 billion, 0.97 billion, and 1.23 billion yuan for 2024-2026, respectively [21][30]. - The corresponding price-to-earnings ratios for these years are estimated to be 20, 14, and 11 times [21][30].

证券代码：301219 证券简称：腾远钴业 公告编号：2024-025 赣州腾远钴业新材料股份有限公司 关于回购股份实施结果暨股份变动的公告 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。 赣州腾远钴业新材料股份有限公司（以下简称"公司"）于 2023 年 4 月 25 日召开第三届董事会第六次会议，审议通过了《关于以集中竞价交易方式回购公 司股份方案的议案》，独立董事就本次回购事宜发表了同意的独立意见。同意公 司使用自有资金以集中竞价交易的方式回购部分公司股份用于实施公司股权激 励计划或员工持股计划，回购的资金总额不低于人民币 1 亿元（含），不超过人 民币 2 亿元（含），回购股份价格不超过人民币 95.00 元/股，回购股份的期限 为董事会审议通过回购股份方案之日起不超过 12 个月。具体内容详见公司分别 于 2023 年 4 月 27 日、2023 年 5 月 15 日在巨潮资讯网披露的《关于以集中竞价 交易方式回购公司股份方案的公告》（公告编号：2023-021）和《回购报告书》 （公告编号：2023-026）。 2023 年 6 月 7 日，公司在 ...

更多资料加入知识星球：水木调研纪要关注公众号：水木纪要 腾远钻业20240418_原文 2024年04月18日18:15 发言人 00:00 强资源供应的稳定性和可靠性。 发言人 01:46 在二次资源方面，我们搭建完整的循环再生产业链，并根据市场寻求灵活调整产品类型。2023 年恒源钻钴业在产能方面的也取得了显著的增长，本部现已经具备了生产的2万金属吨的母产品 一万接触中的液产品和5000吨的碳酸锂，以及15000吨电池废料综合回收的处理能力。电子 产能也提升至3000 个基础的同时，一期一阶段项目已经顺利进行，进入了试产阶段。刚果金 子公司现在已经拥有了6万吨铜，1万吨五中水平的产能。 发言人 02:43 在运营侧我们将持续精进。首先我们将致力于精细化管理，重点关注成本控制、库存管理和信 息化的升级。通过信息化手段提升数据透明度和决策速度，确保公司能够快速响应市场发展的 一个变化。在工厂自动化建设方面，我们完成了智能库的一个建设，全面升级数字化工厂，这 将大幅提升我们的生产效率和产品质量。将我将继续加强海外投资调研团队的一个建设。为了 让更多员工能够分享企业的成果，我们已经实施了股份回购计划，为后续的员工 ...

Summary of the Conference Call for Tengyuan Cobalt Industry Company Overview - **Company Name**: Tengyuan Cobalt Industry - **Industry Focus**: Cobalt production, recycling, and related materials for the new energy sector, aerospace, and military applications [4][5] Key Points and Arguments Company Performance - In 2023, Tengyuan produced 15,545 tons of cobalt and sold 15,563 tons, marking a 68% increase in sales compared to 2022 [10] - Copper production reached 49,646 tons with sales of 49,238 tons, reflecting a 71% year-on-year growth [10] - Revenue for 2023 grew by 15.47%, while net profit surged by 37.74% [10] - The company has achieved a balanced state in asset impairment and has adjusted prices to capitalize on market trends [10][11] Industry Trends - Global sales of new energy vehicles exceeded 11.3 million units in 2023, representing a 35.8% year-on-year growth, indicating significant market potential [7] - China's export of new energy vehicles reached 1.203 million units, a 77.6% increase, showcasing international market recognition [7] - The demand for cobalt is projected to rise to 252,000 tons by 2025, driven by the growth in new energy vehicles, consumer electronics, and military applications [8] Strategic Initiatives - The company is focused on building a closed-loop industrial chain to enhance resource control and efficiency [5][6] - Tengyuan is actively seeking mining resources and has established partnerships with local entities to develop mines [5] - The company emphasizes technological innovation and has achieved significant advancements in production efficiency and product quality [6][12] Financial Health - Tengyuan maintains a low debt ratio compared to industry averages, with total and net assets showing year-on-year growth [11] - The company is committed to continuous investment in technology and market expansion to ensure long-term growth [11] Future Outlook - Tengyuan plans to expand its product lines and explore new materials, aiming to become a leading player in the global new energy materials sector [12][13] - The company is also focused on enhancing its recycling capabilities, particularly in the second resource sector, to ensure resource security [9][21] Additional Important Information - The company has established a research institute to drive innovation and improve production processes [12] - Tengyuan is exploring opportunities in international markets, including potential investments in Indonesia for nickel resources [22][30] - The geopolitical landscape, including conflicts in regions like the Democratic Republic of Congo, poses risks but also opportunities for resource companies [24][41] This summary encapsulates the key insights from the conference call, highlighting the company's performance, industry trends, strategic initiatives, financial health, and future outlook.

Financial Performance - The company reported a revenue of RMB 1.5 billion for the fiscal year 2023, representing a year-over-year increase of 25%[139]. - In 2023, the company's operating revenue reached approximately CNY 5.54 billion, representing a year-on-year increase of 15.47%[155]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was CNY 365.93 million, up 50.89% compared to the previous year[155]. - The net cash flow from operating activities surged by 549.59% to CNY 788.77 million[155]. - The total assets of the company at the end of 2023 amounted to CNY 9.83 billion, a 3.59% increase from the previous year[155]. - The company’s basic earnings per share increased by 29.29% to CNY 1.28[155]. - The weighted average return on equity rose to 4.46%, an increase of 0.63% from the previous year[155]. - The forecast for the next fiscal year includes a revenue target of RMB 1.8 billion, reflecting a growth rate of 20%[139]. Shareholder and Dividend Information - The company approved a cash dividend of RMB 12.00 per 10 shares, totaling RMB 272,046,630.00 (including tax) for the year 2022[15]. - The company has committed to limit the transfer of shares by directors and senior management to no more than 25% of their total holdings annually during their tenure and for six months post-termination[60]. - Major shareholders committed to not transferring shares for 12 months post-IPO, ensuring stability in shareholding[60]. - The company has a long-term profit distribution policy in place, which is to be strictly followed post-IPO[63]. Environmental and Sustainability Initiatives - The company received approval for the environmental impact report of the used lithium battery recycling project on March 27, 2023[23]. - The company completed the acceptance of environmental protection facilities in April 2023[23]. - The company adheres to national laws and regulations regarding environmental protection and pollution control[22]. - The company implemented measures to reduce carbon emissions, including utilizing waste heat steam from power plants, which improved energy reuse and reduced energy loss[26]. - The company added water washing equipment for raw material packaging to decrease dust emissions and enhance material recovery rates[26]. - The company installed rooftop photovoltaic power generation systems, contributing to effective carbon emission reductions[26]. - The emergency response plan for environmental incidents was revised and approved on April 1, 2023, and filed with the local ecological environment bureau on May 22, 2023[25]. - The company has established a secondary resource recovery system and expanded its supply channels for secondary resource raw materials[167]. - The company is committed to aligning with international ESG standards to improve its performance in environmental protection, social responsibility, and corporate governance[102]. Legal and Compliance Matters - The company is involved in a lawsuit with Nanjing Infinite Power Technology Co., Ltd., with a disputed amount of CNY 35.18 million, and the court has ordered the defendant to repay CNY 32.95 million plus interest[41]. - The court ruling requires the defendant to pay CNY 100,000 in legal fees and CNY 36,000 in preservation insurance fees within ten days of the judgment[41]. - The company reported no significant impact from the lawsuit on its operations[41]. - There were no significant legal disputes or penalties reported during the period[71]. - The company has fulfilled its commitments regarding stock transfer restrictions and voluntary lock-up periods for major shareholders[59]. Operational and Strategic Developments - The company aims to expand its product range and service areas in the global cobalt, nickel, lithium, copper, and manganese markets over the next three years[81]. - The company plans to enhance its control over natural resources by establishing long-term stable trade partnerships and seeking quality energy metal resources in Africa and other countries[81]. - The company will focus on optimizing operational management and developing new products and processes to drive progress and sustainable development[84]. - The company intends to leverage its advantages in technology innovation, business combination, and efficient operations to create a closed-loop industrial chain from cobalt and nickel resources to recycling[81]. - The company will continue to upgrade existing production lines and reduce costs in cobalt refining while increasing research and development efforts in nickel and lithium refining[83]. - The company is actively expanding its resource channels to ensure supply chain security by establishing strategic partnerships with global secondary resource enterprises[99]. - The company has launched new products including battery-grade nickel sulfate and battery-grade lithium carbonate in 2023, expanding its presence in the new energy sector[183]. - The company has completed the construction and commissioning of a 15,000-ton battery waste recycling facility, enhancing its capabilities in recycling lithium-ion batteries[181]. Research and Development - A total of RMB 200 million has been allocated for R&D in new technologies related to cobalt extraction and processing[139]. - The company is exploring potential acquisitions in the cobalt mining sector to secure raw material supply chains[139]. - The company emphasizes innovation by establishing research partnerships with universities and investing in new product pilot testing facilities[198]. - The company has developed over ten new technologies for battery waste treatment and has applied for related patents, enhancing its competitive edge in the market[198]. Market and Industry Trends - The global cobalt consumption in 2023 was approximately 199,000 tons, with expectations to reach 210,000 tons in 2024[164]. - The cumulative production of power batteries in China reached 778.1 GWh in 2023, reflecting a year-on-year growth of 42.5%[163]. - In 2023, global new energy vehicle sales reached 14.653 million units, a year-on-year increase of 35.4%, with China accounting for 9.495 million units, or 64.8% of the total[179]. - The company plans to adjust its annual production targets for cobalt, nickel, lithium products, and electrolytic copper based on market demand and raw material availability[176]. Internal Control and Governance - The company achieved a 100% inclusion of assets and operating income in the consolidated financial statements for internal control evaluation[20]. - There were no significant internal control deficiencies reported during the evaluation period[20]. - The company’s board of directors and supervisory committee have been actively fulfilling their responsibilities during the reporting period[3]. - The company has a clear strategy for managing its financial responsibilities and ensuring compliance with regulatory requirements[63]. - The company is enhancing its internal control systems and management processes to improve risk management capabilities and ensure stable growth[102].

证券代码：301219 证券简称：腾远钴业 公告编号：2024-022 | 项至第（四）项情形的，可以豁免提交 | （四）（五）（六）项情形的，可以豁 | | --- | --- | | 股东大会审议。 | 免提交股东大会审议。 | | 第四十六条 公司召开股东大会的地 | 第四十七条 公司召开股东大会的地 | | 点为公司住所地、主要生产经营或研 | 点为公司住所地、主要生产经营或研 | | 发地。在必要的情况下，经董事会决 | 发地。在必要的情况下，经董事会决 | | 议，股东大会可以在与审议事项相关 | 议，股东大会可以在与审议事项相关 | | 的其他地点召开。 | 的其他地点召开。 | | 股东大会应当设置会场，以现场会议 | 股东大会应当设置会场，以现场会议 | | 形式召开，并应当按照法律、行政法规 | 形式召开，并应当按照法律、行政法规 | | 或本章程的规定，采用安全、经济、便 | 或本章程的规定，采用安全、经济、便 | | 捷的网络和其他方式为股东参加股东 | 捷的网络和其他方式为股东参加股东 | | 大会提供便利。股东通过上述方式参 | 大会提供便利。股东通过上述方式参 | | 加股东大会 ...

证券代码：301219 证券简称：腾远钴业 公告编号：2024-015 赣州腾远钴业新材料股份有限公司 关于预计 2024 年度日常关联交易的公告 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。 赣州腾远钴业新材料股份有限公司（以下简称"公司"）于 2024 年 4 月 16 日召开第三届董事会第十次会议、第三届监事会第十次会议，分别审议通过了《关 于预计 2024 年度日常关联交易的议案》。本议案尚需提交公司股东大会审议， 现将相关情况公告如下： 一、 日常关联交易基本情况 （一）日常关联交易概述 根据公司业务发展及日常经营的需要，公司及控股子公司预计 2024 年度将 与关联人发生总金额不超过 81,500 万元人民币（以下万元均指人民币万元）的 日常关联交易，关联交易内容为向关联人销售商品。2023 年度公司与关联人实 际发生的日常关联交易总金额为 16,929.93 万元。 公司于 2024 年 4 月 16 日召开第三届独立董事第一次专门会议，第三届董事 会第十次会议、第三届监事会第十次会议，分别审议通过了《关于预计 2024 年 度日常关联交易的议 ...

中国·赣州 赣州腾远钴业新材料股份有限公司 股东大会议事规则 2016 年 8 月 12 日公司创立大会暨首次股东大会通过 2017 年 3 月 11 日公司 2016 年年度股东大会第一次修订 2019 年 4 月 10 日 2018 年年度股东大会第二次修订 2020 年 9 月 8 日 2020 年第六次临时股东大会第三次修订（上市后生效） 2022 年 9 月 13 日 2022 年第二次临时股东大会第四次修订 尚待 2024 年 5 月 14 日 2023 年年度股东大会第五次修订 二〇二四年五月 赣州腾远钴业新材料股份有限公司 股东大会议事规则 第一章 总 则 第一条 为规范赣州腾远钴业新材料股份有限公司（以下简称"公司"）及公司 股东的行为，保证股东大会依法行使职权，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》《上市公司股东大会规则》《深圳证券交 易所创业板股票上市规则》等其他有关的法律、行政法规和规范性文件的规定及《赣 州腾远钴业新材料股份有限公司章程》（以下简称"《公司章程》"）的规定，制定《赣 州腾远钴业新材料股份有限公司股东大会议事规则》（以下简称" ...

赣州腾远钴业新材料股份有限公司 2023 年度内部控制自我评价报告 赣州腾远钴业新材料股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管 要求（以下简称企业内部控制规范体系），结合赣州腾远钴业新材料股份有限 公司（以下简称公司、本公司）内部控制制度和评价办法，在内部控制日常监 督和专项监督的基础上，我们对公司2023年12月31日（内部控制评价报告基准 日）的内部控制有效性进行了评价。 一、重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价 其有效性，并如实披露内部控制评价报告是公司董事会的责任。监事会对董事 会建立和实施内部控制进行监督。经理层负责组织领导企业内部控制的日常运 行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存在 任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完 整性承担个别及连带法律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告 及相关信息真实完整，提高经营效率和效果，促进实现发展战略。由于内部控 制存在的固有局限性，故仅能为实现上述目标提供合理保证。此外，由于情况 ...