广东鼎泰高科技术股份有限公司 证券代码：301377 证券简称：鼎泰高科 公告编号：2024-060 表决结果：同意 3 票，反对 0 票，弃权 0 票。 本议案尚需提交公司 2024 年第二次临时股东大会审议。 二、备查文件 第二届监事会第十次会议决议公告 本公司及监事会全体成员保证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。 广东鼎泰高科技术股份有限公司（以下简称"公司"）第二届监事会第十次 会议于 2024 年 12 月 3 日在公司会议室以现场及通讯表决相结合的方式召开。会 议通知于 2024 年 11 月 29 日以电子邮件、电话或书面方式送达。本次监事会应 参加监事 3 人，实际参加监事 3 人，会议由公司监事会主席张勇先生召集并主 持。会议的召开符合《公司法》《公司章程》和《监事会议事规则》的有关规定。 一、监事会会议审议情况 经各位监事认真审议，本次会议形成如下决议： 审议通过《关于拟变更会计师事务所的议案》 监事会认为：容诚会计师事务所（特殊普通合伙）具备证券、期货相关业务 审计从业资格，能够为公司提供真实公允的审计服务，满足公司年度审计工作的 要求，监事会同意聘任 ...

证券代码：301377 证券简称：鼎泰高科 公告编号：2024-059 广东鼎泰高科技术股份有限公司 本事项已经公司审计委员会审议并取得了明确同意的意见。 具体内容详见公司于巨潮资讯网（http://www.cninfo.com.cn）同日披露的《关 于拟变更会计师事务所的公告》（公告编号：2024-061）。 表决结果：同意 7 票，反对 0 票，弃权 0 票。 本议案尚需提交公司 2024 年第二次临时股东大会审议。 2、审议通过《关于召开 2024 年第二次临时股东大会的议案》 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。 广东鼎泰高科技术股份有限公司（以下简称"公司"）第二届董事会第十次 会议于 2024 年 12 月 3 日在公司会议室以现场及通讯表决相结合的方式召开。本 次会议通知于 2024 年 11 月 29 日以电子邮件或书面方式发出，会议应出席董事 7 人，实际出席董事 7 人。会议由董事长王馨女士召集并主持，公司监事及高级 管理人员列席本次会议。本次会议的召集、召开符合《公司法》和《公司章程》 的有关规定 ...

证券代码：301377 证券简称：鼎泰高科 公告编号：2024-058 广东鼎泰高科技术股份有限公司 关于为子公司向银行申请授信提供担保的进展公告 本公司及董事会全体成员保证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、担保情况概述 广东鼎泰高科技术股份有限公司（以下简称"公司"）于 2024 年 4 月 16 日、2024 年 5 月 8 日分别召开了第二届董事会第五次会议及 2023 年年度股东大 会，审议通过了《关于向银行申请综合授信额度并提供担保的议案》，同意公司 及子公司广东鼎泰机器人科技有限公司、南阳鼎泰高科有限公司、东莞市鼎泰鑫 电子有限公司、东莞市鼎泰华南采购服务有限公司（以下简称"鼎泰华南采购"）、 东莞市超智新材料有限公司拟向银行及其他金融机构申请额度不超过人民币 13 亿元的综合授信额度，在上述综合授信额度内，公司及子公司为银行授信金额提 供担保，合计担保额度不超过人民币 13 亿元，担保额度可循环滚动使用。具体 内容详见公司于 2024 年 4 月 18 日在巨潮资讯网（http://www.cninfo.com.cn）披 露的《关于向银行申请综合授信额度 ...

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 24.96 CNY per share, based on a PEG ratio of 1.1 for 2024, corresponding to a PE of 35.56 times and a target market value of 10.24 billion CNY [5][7]. Core Insights - The company, Guangdong Dingtai High-Tech Co., Ltd., is a global leader in PCB drill needles, with a market share of 19% in 2020, and has diversified its business across multiple sectors, enhancing its growth potential [1][5]. - The company focuses on digitalization and information technology to drive growth in the PCB industry, which is supported by favorable government policies and increasing market demand [2][50]. - The CNC tool and milling tool markets are expected to grow rapidly, with the CNC machine tool market projected to reach 572.8 billion CNY by 2024, creating significant demand for consumables like CNC tools [3][5]. - The functional film materials segment is being developed as a second growth curve, with applications in various industries, leading to rapid revenue growth [4][5]. Summary by Sections Company Overview - Dingtai High-Tech was established in 2013 and has become a recognized brand in the PCB industry, focusing on high-quality products and strong R&D capabilities [1][25]. - The company has a stable shareholding structure, with major shareholders holding 76.23% of the shares [41]. PCB Drill Needle Business - The company leverages digitalization to expand its market presence and enhance product offerings, focusing on high-end drill needles and CNC tools [2][50]. - The demand for high-end drill needles is expected to rise due to the ongoing upgrades in the PCB industry [56][58]. CNC Tools and Milling Tools - The CNC machine tool market is anticipated to grow, driving demand for CNC tools, with the company actively expanding its product range in this area [3][5]. - The company aims to become a leading provider of key tools, materials, and solutions in industrial manufacturing [3][5]. Functional Film Materials - The company is increasing its investment in functional film materials, which are essential in various sectors, contributing to significant revenue growth [4][5]. Financial Forecast and Valuation - The company is projected to achieve net profits of 288 million CNY, 399 million CNY, and 508 million CNY for the years 2024, 2025, and 2026, respectively [5][6]. - The financial data indicates a steady increase in revenue, with a projected revenue of 1.73 billion CNY in 2024, reflecting a growth rate of 30.9% [6][5].

证券代码：301377 证券简称：鼎泰高科 公告编号：2024-057 广东鼎泰高科技术股份有限公司 关于为子公司向银行申请授信提供担保的进展公告 本公司及董事会全体成员保证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、担保情况概述 广东鼎泰高科技术股份有限公司（以下简称"公司"）于 2024 年 4 月 16 日、2024 年 5 月 8 日分别召开了第二届董事会第五次会议及 2023 年年度股东大 会，审议通过了《关于向银行申请综合授信额度并提供担保的议案》，同意公司 及子公司广东鼎泰机器人科技有限公司、南阳鼎泰高科有限公司、东莞市鼎泰鑫 电子有限公司、东莞市鼎泰华南采购服务有限公司、东莞市超智新材料有限公司 （以下简称"超智新材料"）拟向银行及其他金融机构申请额度不超过人民币 13 亿元的综合授信额度，在上述综合授信额度内，公司及子公司为银行授信金 额提供担保，合计担保额度不超过人民币 13 亿元，担保额度可循环滚动使用。 具体内容详见公司于 2024 年 4 月 18 日在巨潮资讯网（http://www.cninfo.com.cn） 披露的《关于向银行申请综合授信额度并 ...

Investment Rating - The investment rating for the company is "Buy," indicating an expected return exceeding 10% relative to the CSI 300 index over the next six months [6]. Core Views - The report highlights significant improvement in profitability in Q3, driven by AI applications optimizing product structure [1]. - The company achieved a revenue of 1.129 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 21.72%, with a net profit of 172 million yuan, up 1.75% year-on-year [1]. - Q3 alone saw a revenue of 416 million yuan, a year-on-year increase of 20.74%, and a net profit of 83 million yuan, reflecting a year-on-year growth of 31.49% [1]. - The report anticipates revenue growth to reach 1.586 billion yuan in 2024, 1.952 billion yuan in 2025, and 2.381 billion yuan in 2026, with net profits projected at 255 million yuan, 330 million yuan, and 424 million yuan respectively [1][5]. Summary by Sections Company Overview - The company, Ding Tai Gao Ke (301377), is involved in the PCB industry and has shown resilience with a strong demand recovery and rapid growth in functional film materials [1]. - The total share capital is 410 million shares, with a market capitalization of 8.118 billion yuan [1]. Financial Performance - The gross margin for the first three quarters of 2024 was 35.58%, a decrease of 2.13 percentage points year-on-year, while the net margin was 15.29%, down 2.97 percentage points year-on-year [1]. - In Q3, the gross margin improved to 37.17%, with a net margin of 20.08%, reflecting a year-on-year increase of 1.65 percentage points [1]. Product Development - The company is focusing on vertical integration in PCB processing and horizontal expansion into functional films and CNC grinding machines [1]. - There is a structural growth in demand for high-end drilling products, particularly in the AI sector, which is expected to continue driving sales [1]. Market Outlook - The report projects a continued positive trend in the company's financials, with a price-to-earnings ratio of 31.8X for 2024, 24.6X for 2025, and 19.1X for 2026 [1][5].

Investment Rating - The investment rating for the company is upgraded to "Accumulate-A" [1][4] Core Views - The company's revenue for the first three quarters of 2024 reached 1.129 billion yuan, a year-on-year increase of 21.72%, while the net profit attributable to shareholders was 172 million yuan, up 1.75% year-on-year [1][2] - The improvement in product structure due to the deepening application of AI has led to a significant increase in net profit margin in Q3, with a net profit margin of 20.08%, an increase of 7.38 percentage points from Q2 [3][4] - The company is focusing on high-end product areas such as AI and semiconductors, which has resulted in a structural change in product demand, particularly for micro-drills and coated drills [2][3] Financial Performance Summary - For Q3 2024, the company achieved a revenue of 416 million yuan, a year-on-year increase of 20.74% and a quarter-on-quarter increase of 9.53% [3] - The net profit for Q3 2024 was 83.35 million yuan, a year-on-year increase of 31.49% and a quarter-on-quarter increase of 72.93% [3] - The company expects to achieve revenues of 1.618 billion, 1.957 billion, and 2.338 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 22.5%, 20.9%, and 19.5% [4][5] Valuation Metrics - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.62 yuan, 0.81 yuan, and 1.03 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 33.9X, 25.9X, and 20.4X based on the closing price of 21.00 yuan on October 31 [4][5] - The company's gross margin and net margin for Q3 2024 were 37.17% and 20.08% respectively, showing improvements from Q2 [3][4]

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company reported a revenue of 1.129 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 21.72%, with a net profit attributable to shareholders of 172 million yuan, up 1.75% year-on-year [3][4] - In Q3 2024, the company achieved a revenue of 416 million yuan, a year-on-year growth of 20.74%, and a net profit of 83 million yuan, which is a 31.49% increase year-on-year [4] - The growth in revenue and profit is attributed to the recovery in PCB industry demand and the deepening application of AI, which has driven the demand for drilling needles [4][6] Summary by Sections Financial Performance - The company’s gross profit margin for the first three quarters of 2024 was 35.58%, a decrease of 2.13 percentage points year-on-year, while the net profit margin was 15.29%, down 2.97 percentage points year-on-year [5] - In Q3 2024, the gross profit margin was 37.17%, down 3.02 percentage points year-on-year but up 1.73 percentage points quarter-on-quarter, with a net profit margin of 20.08%, which increased by 1.65 percentage points year-on-year [5] Investment Recommendations - The company is positioned as a global leader in PCB drilling needles, with new business lines such as functional films and polishing materials contributing to its growth [6] - The company is expected to achieve net profits of 245 million yuan, 336 million yuan, and 430 million yuan for the years 2024, 2025, and 2026 respectively, with corresponding PE ratios of 34.9, 25.5, and 19.9 [6][7]

Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price of 22.75 CNY, compared to the current price of 20.90 CNY [1]. Core Views - The company has shown rapid revenue growth, benefiting from the increasing demand in the AI sector and the recovery in the PCB industry. For the first three quarters of 2024, the company achieved a revenue of 1.129 billion CNY, a year-on-year increase of 21.72%, and a net profit of 172 million CNY, up 1.75% year-on-year [1]. - The gross margin and net margin have declined year-on-year but improved significantly in Q3 compared to Q2, indicating enhanced profitability due to cost reduction and product structure optimization [1]. - The demand for drilling needles has increased due to the recovery in the PCB industry and AI-driven growth, with the company focusing on high-end products in AI and semiconductors [1]. - The company is expanding its business in smart CNC equipment, polishing materials, and functional film materials, which are expected to contribute to revenue growth [1]. Financial Summary - For 2024-2026, the company is projected to achieve revenues of 1.630 billion CNY, 1.985 billion CNY, and 2.457 billion CNY, respectively, with corresponding net profits of 259 million CNY, 371 million CNY, and 462 million CNY [2][6]. - The earnings per share (EPS) are expected to be 0.63 CNY, 0.91 CNY, and 1.13 CNY for the years 2024, 2025, and 2026, respectively [2][6]. - The company’s financial ratios indicate a price-to-earnings (P/E) ratio of 39 for 2023, decreasing to 19 by 2026, reflecting an improving valuation as earnings grow [2][6].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][5] Core Views - The company reported a revenue of 1.129 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 21.72%. The net profit attributable to shareholders was 172 million yuan, up 1.75% year-on-year [2] - The third quarter revenue reached 416 million yuan, showing a year-on-year growth of 20.74% and a quarter-on-quarter increase of 9.53%. The net profit for Q3 was 83 million yuan, reflecting a year-on-year increase of 31.49% and a quarter-on-quarter increase of 72.93% [2][3] - The company is a leading player in the PCB needle industry, focusing on product high-endization and capacity expansion, with a positive outlook for its functional film products, CNC tools, and automation equipment [5] Summary by Sections Financial Performance - For Q3, the gross margin was 37.17%, a decrease of 3.02 percentage points year-on-year but an increase of 1.73 percentage points quarter-on-quarter. The company achieved a net profit margin of 20.08%, the highest for the same period since its listing [4] - The company’s total revenue for 2024 is projected to be 1.583 billion yuan, with expected year-on-year growth rates of 19.89%, 32.74%, and 17.76% for 2024, 2025, and 2026 respectively [5][7] Business Development - The company is expanding its overseas market presence, having established production bases in Thailand and subsidiaries in Vietnam, while actively exploring markets in Japan, South Korea, Southeast Asia, and Europe and the United States [4] - Emerging business segments, such as film products and smart CNC equipment, are expected to continue their growth trajectory, with significant increases in production and new customer acquisition [3][5] Future Outlook - The company anticipates continued positive factors driving growth, including a gradual recovery in industry demand and structural optimization within the industry, particularly due to the deepening application of AI [3] - The projected earnings per share for 2024, 2025, and 2026 are 0.61 yuan, 0.84 yuan, and 1.06 yuan respectively, with corresponding price-to-earnings ratios of 33.15, 24.05, and 19.08 [5][7]