Investment Rating - The report maintains 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 [9]. Core Insights - The company's main business in brake systems, including wheel hub bearing units, is expected to continue stable growth in Q1 2024, with a significant market ceiling. The global automotive wheel hub unit aftermarket was approximately 53.88 billion yuan in 2021, with the company's market share being less than 2%. The company has established strong connections with downstream customers and is working on enhancing local service capabilities in the North American market, which is expected to improve penetration rates [1]. - The company reported a significant increase in net profit for Q1 2024, achieving a net profit of 47 million yuan, a year-on-year growth of 101.38%. The gross profit margin for Q1 2024 was 33.5%, up 1.4 percentage points from the full year of 2023, while the net profit margin reached 28.8%, an increase of 8.5 percentage points from the previous year [11][17]. - The company is actively expanding into the core supply chain of humanoid robots, with the harmonic reducer production and testing requirements being rigorously defined. The company is in the preparatory stage for mass production of harmonic reducers, with small batch orders expected this year [20]. Financial Summary - The company's revenue for 2023 is projected to be 738.1 million yuan, with a year-on-year growth rate of -1.5%. However, revenue is expected to rebound significantly in the following years, reaching 1.1 billion yuan in 2025 and 1.4 billion yuan in 2026, with growth rates of 22.0% and 27.7%, respectively [12]. - The net profit for 2024 is forecasted to be 224.7 million yuan, reflecting a 50% year-on-year increase. The earnings per share (EPS) are expected to rise from 1.36 yuan in 2023 to 2.04 yuan in 2024 [12][18]. - The report has adjusted the company's profit forecast upwards, with net profits expected to be 220 million yuan in 2024, 250 million yuan in 2025, and 290 million yuan in 2026, corresponding to price-to-earnings (PE) ratios of 17, 15, and 13 times, respectively [20].

Financial Performance - Revenue for Q1 2024 reached ¥163,241,809.15, an increase of 11.95% compared to ¥145,815,419.53 in Q1 2023[5] - Net profit attributable to shareholders was ¥47,021,068.43, representing a significant increase of 101.38% from ¥23,349,990.23 in the same period last year[5] - The company reported a total profit of ¥55,862,527.96, which is an increase of 110.13% compared to ¥26,584,201.77 in Q1 2023[10] - Operating profit reached CNY 47,864,844.21, up from CNY 26,686,762.76, reflecting an increase of 79.3% year-over-year[21] - The total profit amounted to CNY 55,862,527.96, compared to CNY 26,584,201.77 in the previous year, marking a growth of 109.5%[21] - The total comprehensive income for the quarter was CNY 43,492,175.94, compared to CNY 23,303,865.59 in the same period last year, reflecting an increase of 86.5%[21] Cash Flow and Assets - The net cash flow from operating activities surged by 206.75% to ¥24,889,903.29, up from ¥8,113,941.73 in Q1 2023[5] - Cash flow from operating activities generated a net amount of CNY 24,889,903.29, a substantial increase from CNY 8,113,941.73 in the prior year[23] - The company's cash and cash equivalents at the end of Q1 2024 were ¥1,210,417,492.83, slightly down from ¥1,214,172,630.64 at the beginning of the period[16] - The cash and cash equivalents at the end of the period were CNY 1,161,801,003.26, up from CNY 304,871,114.18 at the end of the previous year[24] - Total assets at the end of Q1 2024 were ¥1,982,303,219.68, reflecting a slight increase of 0.43% from ¥1,973,801,490.98 at the end of the previous year[5] - Total assets as of the end of Q1 2024 amounted to ¥1,982,303,219.68, compared to ¥1,973,801,490.98 at the beginning of the period, showing a growth of 0.4%[18] - Total liabilities decreased to ¥341,542,730.46 from ¥377,035,203.79, a reduction of 9.4%[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 10,698[12] - Major shareholders include Jiang Ling with 36,271,000 shares and Zhang Yimin with 11,920,300 shares, both of which are subject to lock-up until 2027 and 2025 respectively[14] - The total number of restricted shares at the beginning of the period was 83,918,111, with 1,418,111 shares released during the period, leaving 82,500,000 restricted shares at the end[14] - The company has a total of 6,626,000 shares held by other restricted shareholders, all subject to lock-up until September 15, 2024[14] Operational Highlights - Basic earnings per share rose to ¥0.43, a 53.57% increase from ¥0.28 in the previous year[5] - Research and development expenses for Q1 2024 were ¥6,553,781.84, down from ¥7,249,216.95, indicating a decrease of 9.6%[20] - Total operating costs decreased to ¥116,564,235.98 from ¥120,312,643.37, reflecting a reduction of 3.1%[20] - Inventory increased to ¥195,539,996.46 from ¥188,567,086.15, representing a rise of 3.1%[16] Corporate Governance - The company held its first temporary shareholders' meeting on January 12, 2024, to elect the fourth board of directors and the fourth supervisory board[14] - The company announced that Vice General Manager Wang Jian will no longer serve in that role but will remain as a director and general manager of a subsidiary[14] - The company expressed gratitude to the outgoing third board of directors and supervisory board for their contributions during their tenure[14] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[10] - The company is undergoing a project name change and additional investment for the "Annual Production of 6.29 Million High-end Automotive Bearings Technology Renovation Expansion Project"[15] - The company plans to upgrade its technology research and development center, changing the implementation location as part of its strategic initiatives[15] - The company has not reported any new strategies or market expansions in this quarter[14] - There were no new product developments or technological advancements mentioned in the report[14] - The company did not provide specific performance guidance or future outlook in this report[14]

浙江斯菱汽车轴承股份有限公司 证券代码：301550 证券简称：斯菱股份 公告编号：2024-034 一、监事会会议召开情况 浙江斯菱汽车轴承股份有限公司（以下简称"公司"）第四届监事会第四次会议通知 于 2024 年 4 月 18 日以电子邮件等通讯方式发出，于 2024 年 4 月 23 日在公司会议室以 现场会议方式召开。会议由公司监事会主席梁汉洋先生主持，本次会议应出席监事5人， 实际出席监事 5 人，公司董事会秘书列席了会议。 本次会议的召集、召开和表决程序符合有关法律、法规和《公司章程》的规定。 二、监事会会议审议情况 与会监事经过审议，表决通过了以下议案： 表决情况：同意 5 票，反对 0 票，弃权 0 票。 三、备查文件 第四届监事会第四次会议决议公告 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。 （一）审议通过《关于<2024 年第一季度报告>的议案》 经审核，监事会认为：董事会编制和审核《2024 年第一季度报告》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 ...

证券代码：301550 证券简称：斯菱股份 公告编号：2024-033 浙江斯菱汽车轴承股份有限公司 本次会议的召集、召开和表决程序符合有关法律、法规和《公司章程》的规定。 二、董事会会议审议情况 与会董事经过审议，表决通过了以下议案： （一）审议通过《关于<2024 年第一季度报告>的议案》 董事会认为：公司编制的《2024 年第一季度报告》符合法律、行政法规和中国证 监会、深圳证券交易所的相关法律法规、规范性文件的规定，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在巨潮资讯网（http://www.cninfo.com.cn）上披露的《2024 年第一季度报告》（公告编号：2024-035）。 第四届董事会第四次会议决议公告 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 浙江斯菱汽车轴承股份有限公司（以下简称"公司"）第四届董事会第四次会议通知 于 2024 年 4 月 18 日以电子邮件等通讯方式发出，于 2024 年 4 月 23 日在公司会议室 以现场结 ...

Investment Rating - The report maintains 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 [36]. Core Insights - The company achieved a revenue of 738.1 million yuan in 2023, a slight decline of 1.55% year-on-year, while net profit increased by 22.16% to 150 million yuan [13]. - The company is focusing on expanding its presence in the robot core components sector, having established a dedicated team for research and development in this area [27]. - The company has a strong market position in the automotive wheel hub bearing aftermarket, with significant growth potential due to its low market share [21]. Revenue Breakdown - Revenue from the braking system bearings reached 567 million yuan in 2023, a year-on-year increase of 2.7% [3]. - Revenue from the transmission system bearings was 95 million yuan, down 21% year-on-year [3]. - Revenue from the power system bearings was 55 million yuan, up 10.9% year-on-year [3]. - Non-automotive bearings generated 12 million yuan, a decline of 27% year-on-year [3]. Geographic Revenue Distribution - The overseas market is a major revenue source, with overseas revenue accounting for 69.2% of total revenue in 2023, compared to 70.1% in 2022 [5]. Profitability Metrics - The overall gross margin for 2023 was 32.1%, an increase of 5.9 percentage points from 2022, primarily due to a decrease in raw material prices [16]. - The net profit margin for 2023 was 20.3%, up 3.9 percentage points from the previous year [16]. Future Earnings Forecast - The company is projected to achieve net profits of 190 million yuan, 230 million yuan, and 290 million yuan for the years 2024, 2025, and 2026, respectively [28]. - The expected price-to-earnings (P/E) ratios for 2024, 2025, and 2026 are 17, 14, and 11 times, respectively [28].

公司代码：301550 公司简称：斯菱股份 浙江斯菱汽车轴承股份有限公司 2023年度董事会工作报告 2023 年，浙江斯菱汽车轴承股份有限公司（以下简称"公司"）董事会严格按照《公 司法》《证券法》和《公司章程》等有关规定的要求，勤勉尽责，严格执行股东大会 决议，切实履行股东大会赋予的董事会职责，不断完善公司治理水平，提升公司规范 运作能力。现就公司董事会 2023 年度的工作报告如下： 一、2023 年度董事会的工作情况 | 序号 | 会议届次 | 召开时间 | | | 审议议案 1、《2022 年度总经理工作报告》； | | --- | --- | --- | --- | --- | --- | | | | | | | 2、《2022 年度董事会工作报告》； 3、《关于批准报出公司 2022 年度财务数据的议案》； 4、《2022 年度财务决算报告》； | | | | | | | 5、《2023 年度财务预算报告》； | | | 第三届董事会 | 2023 年 | 2 | 月 | 6、《2022 年度利润分配方案》； | | 1 | 第八次会议 | 24 日 | | | 7、《关于公司内部控制评价报告的 ...

证券代码：301550 证券简称：斯菱股份 公告编号：2024-016 浙江斯菱汽车轴承股份有限公司 第四届董事会第三次会议决议公告 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 浙江斯菱汽车轴承股份有限公司（以下简称"公司"）第四届董事会第三次会议通 知于 2024 年 4 月 8 日以电子邮件等通讯方式发出，于 2024 年 4 月 18 日在公司会议 室以现场结合通讯的方式召开。会议由公司董事长姜岭先生主持，本次会议应出席董 事 5 人，实际出席董事 5 人，公司监事及高级管理人员列席了会议。 本次会议的召集、召开和表决程序符合有关法律、法规和《公司章程》的规定。 二、董事会会议审议情况 与会董事经过审议，表决通过了以下议案： （一）审议通过《关于<2023 年年度报告>及其摘要的议案》 公司《2023 年年度报告》及其摘要的编制及审议程序符合法律、行政法规，报告 内容真实、准确、完整地反映了公司 2023 年度的经营情况，不存在虚假记载、误导 性陈述或者重大遗漏。 具体内容详见公司同日在巨潮资讯网（http://www.cni ...

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 浙江斯菱汽车轴承股份有限公司（以下简称"公司"）2023年年度报告全文及 摘要已于2024年4月20日刊登于中国证监会指定信息披露网站巨潮资讯网 （http://www.cninfo.com.cn）。为便于广大投资者更深入全面了解公司2023年度经 营情况，公司拟采用网络远程的方式举行2023年度业绩说明会，具体安排如下： 一、业绩说明会安排 （一）会议时间：2024年04月26日（星期五）15:00- 17:00 证券代码：301550 证券简称：斯菱股份 公告编号：2024-024 浙江斯菱汽车轴承股份有限公司 关于召开2023年度网上业绩说明会的公告 （二）参会方式：投资者可登陆全景网"投资者关系互动平台"（http://ir.p5w.net） 参与本次年度业绩说明会。 （三）公司出席人员：董事长姜岭先生、独立董事胡旭东先生、独立董事梁 飞媛女士、副总经理兼董事会秘书安娜女士、财务总监徐元英女士、保荐代表人 戚淑亮先生、保荐代表人王静女士。 二、征集问题事项 为充分尊重投资者、提升交流的针对性，现就公司20 ...

证券代码：301550 证券简称：斯菱股份 公告编号：2024-030 浙江斯菱汽车轴承股份有限公司 关于使用部分超募资金永久补充流动资金的公告 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。 浙江斯菱汽车轴承股份有限公司（以下简称"公司"）于2024年4月18日召开第四 届董事会第三次会议及第四届监事会第三次会议，审议通过了《关于使用部分超募资 金永久补充流动资金的议案》。 为提高超募资金使用效率，降低公司财务费用，根据《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》等相关 规定，结合自身实际经营情况，公司拟使用超募资金15,000.00万元永久补充流动资金， 占超募资金总额的28.83%，以满足公司日常经营需要。财通证券股份有限公司对本事 项出具了无异议的核查意见，该事项尚需提交股东大会审议，现将具体情况公告如下： 一、募集资金的情况概括 经中国证券监督管理委员会《关于同意浙江斯菱汽车轴承股份有限公司首次公开 发行股票注册的批复》 ...

法定代表人： 主管会计工作的负责人： 会计机构负责人： 2023年度 | 编制单位：浙江斯菱汽车轴承股份有限公司 | | | | | | | | | | 单位：人民币万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 资金占用方名称 | 占用方与上市公司的关联关系 | 上市公司核算的 | 2023年期初 | 2023年度占用累计 | 2023年度占用资 | 2023年度偿还累计发生金 | 2023年期末 | 占用形成原因 | 占用性质 | | | | | 会计科目 | 占用资金余额 | 发生金额 （不含利息） | 金的利息 （如有） | 额 | 占用资金余额 | | | | 控股股东、实际控制人及其附属企业 | | | | | | | | | | 非经营性占用 | | | | | | | | | | | | 非经营性占用 | | | - | - | - | | | | | | | - | | 前控股股东、实际控制人及其附属企业 | | | | | | | | | | 非经营性占用 | | | | | | | ...