证券代码：301559 证券简称：中集环科 公告编号：2024-048 中集安瑞环科技股份有限公司 关于公司 2025 年度为子公司提供担保额度预计的公告 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。 一、 担保情况概述 为满足中集安瑞环科技股份有限公司（以下简称"公司"）控股子公司中集 绿建环保新材料（连云港）有限公司（以下简称"中集绿建连云港"）及中集环 境服务有限公司（以下简称"中集环服"）日常经营和业务发展需要，确保资金 流畅，公司在保证规范运营和风险可控的前提下，拟为其提供连带责任保证担 保。 2025年度，公司拟为中集绿建连云港向银行或其他金融机构申请的综合授 信额度提供不超过人民币2,000万元的连带责任保证担保； 2025年度，公司拟为中集环服向银行或其他金融机构申请的综合授信额度 提供不超过人民币2,000万元的连带责任保证担保。 上述担保额度期限自股东会审议通过之日起12个月内，上述担保额度在有 效期限内可以循环使用，担保期限内任一时点的担保余额不超过股东会审议通 过的担保额度。对超出上述担保对象及总担保额度范围之外的担保，公司将根 据规 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [5][6] Core Views - The company has shown resilience in its business operations, with a quarter-on-quarter revenue improvement of 25.19% in Q3, despite a year-on-year decline of 24.23% [1] - The company has signed new orders totaling 2.208 billion RMB for the period from January to September 2024, with a backlog of 1.11 billion RMB as of September 30 [1] - The medical equipment segment has seen a revenue increase of 4.18% year-on-year, indicating a positive trend in this area [2] Financial Performance Summary - Q3 revenue was 964 million RMB, down 24.23% year-on-year but up 25.19% quarter-on-quarter [1] - For the first three quarters of 2023, total revenue was 2.354 billion RMB, a decrease of 38.63% year-on-year [1] - The company forecasts net profit attributable to shareholders for 2024-2026 to be 302 million, 445 million, and 543 million RMB respectively, with year-on-year growth rates of -49%, 48%, and 22% [1][9] Market Outlook - The overseas chemical market is expected to recover, with signs of a cyclical upturn as demand for chemical products increases [3] - The report highlights that the company, as an industry leader, is likely to benefit significantly from the recovery in order volumes and the resilience of its tank manufacturing business [3] Valuation Metrics - The target price for the company is set at 18.65 RMB, with a projected price-to-book ratio of 2.5x for 2025 [1][5] - The report anticipates that the company's return on equity (ROE) will remain significantly above the industry average, reflecting its strong market position [1]

编号：2024-020 证券代码：301559 证券简称：中集环科 中集安瑞环科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | |------------------|-----------------------------------------|-------------|--------| | | | | | | | □特定对象调研 | □分析师会议 | | | | □媒体采访 □业绩说明会 | | | | 投资者关系活动类 | □新闻发布会 □路演活动 | | | | 别 | □现场参观 | | | | | ☑ 其他 _ 电话会议 | | | | | 华泰证券股份有限公司 倪正洋、邵玉豪 | | | | | 长江证券股份有限公司 屈 | | 奇 | | | 上海粒子跃动私募基金管理有限公司 | | 郭倩荷 | | | 天治基金管理有限公司 | | 刘沛力 | | | 上海东方证券资产管理有限公司 | 周 | 杨 | | | 北京才誉资产管理企业（有限合伙） 陈玮宁 | | | | | 朱雀基金管理有限公司 许 | | 可 | | | Pinpoint Ass ...

Financial Performance - Revenue for Q3 2024 was CNY 964,416,198.78, a decrease of 24.23% year-over-year, and a decline of 38.63% for the year-to-date period[2] - Net profit attributable to shareholders for Q3 2024 was CNY 65,036,596.96, down 49.32% year-over-year, with a year-to-date decline of 62.98%[2] - Basic earnings per share for Q3 2024 was CNY 0.11, a decrease of 56.00% compared to the same period last year[2] - The company reported a decrease of 8.45% in after-market business revenue in Q3 2024 compared to Q2 2024[10] - The net profit for Q3 2024 was CNY 177,825,699.50, a decrease of 63.2% compared to CNY 483,568,613.16 in the same period last year[16] - The total profit for Q3 2024 was CNY 206,442,377.66, down 63.5% from CNY 566,618,992.81 year-on-year[16] - The basic and diluted earnings per share for Q3 2024 were both CNY 0.3, compared to CNY 0.95 in Q3 2023, reflecting a decline of 68.4%[17] - The operating profit for Q3 2024 was CNY 205,063,551.98, down 63.5% from CNY 561,519,896.41 in Q3 2023[16] - The company reported a total comprehensive income of CNY 179,044,563.81 for Q3 2024, a decrease of 63.0% from CNY 484,676,320.30 in the previous year[17] Assets and Liabilities - Total assets at the end of Q3 2024 were CNY 5,420,215,803.69, a decrease of 2.90% from the end of the previous year[2] - Cash and cash equivalents at the end of the period are CNY 2,073,695,114.52, down from CNY 2,876,944,465.70, representing a decrease of about 28.0%[12] - Total assets decreased to CNY 5,420,215,803.69 from CNY 5,581,938,346.00, a reduction of approximately 2.9%[14] - Total liabilities decreased to CNY 838,559,627.22 from CNY 919,022,185.07, reflecting a decline of about 8.8%[14] - The company's equity attributable to shareholders decreased to CNY 4,583,838,513.69 from CNY 4,662,844,409.26, a decrease of approximately 1.7%[14] Cash Flow - Cash flow from operating activities for the year-to-date period was CNY 266,175,140.58, down 51.65% year-over-year[6] - Cash inflow from operating activities for Q3 2024 was CNY 2,460,101,646.70, down 41.5% from CNY 4,198,667,910.46 in the previous year[18] - Cash outflow from investing activities totaled CNY 1,367,093,960.26 in Q3 2024, significantly higher than CNY 130,141,633.96 in Q3 2023[19] - The net cash flow from investing activities was negative CNY 739,519,360.27, compared to negative CNY 129,291,633.96 in the same quarter last year[19] - The cash and cash equivalents at the end of Q3 2024 were CNY 2,072,244,267.76, down from CNY 3,704,308,295.88 at the end of Q3 2023[19] Revenue Segments - The company achieved operating revenue of CNY 2,354.15 million for the first nine months of 2024, representing a 61.37% increase compared to the same period last year[10] - In Q3 2024, the company reported operating revenue of CNY 964.42 million, a 25.19% increase from Q2 2024, with container revenue growing by 29.06%[10] - The medical equipment components segment generated CNY 171.29 million in revenue, exceeding last year's performance by 104.18%[10] Investment and Funding - The company plans to use CNY 600 million of temporarily idle raised funds for cash management, investing in high-security, liquid products with a maturity of no more than 12 months[11] - The board approved the use of CNY 300 million of excess raised funds to permanently supplement working capital for daily operations[11] - The company has adjusted the internal investment structure and construction period for certain fundraising projects while maintaining the original investment purposes[10] Other Financial Metrics - The company experienced a 175.25% increase in credit impairment losses, mainly due to changes in accounts receivable[5] - Investment income increased by 63.11% year-over-year, attributed to gains from foreign exchange contracts and equity transfers[5] - Non-operating income decreased by 78.43% year-over-year, primarily due to fewer compensation receipts compared to the previous year[5] - Research and development expenses decreased to CNY 89,713,934.69 from CNY 123,356,141.37, a decline of approximately 27.2%[15] - The company reported a net investment loss of CNY 19,042,225.97, an improvement compared to a loss of CNY 51,621,781.76 in the previous period[15] - The company’s financial expenses showed a significant improvement, with a net financial income of CNY 30,731,057.96 compared to a loss in the previous period[15] - The company’s inventory decreased to CNY 922,746,772.93 from CNY 970,715,930.82, a decline of approximately 4.9%[12]

近日，公司开立了募集资金现金管理产品专用结算账户，账户具体信息如下： 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。 中集安瑞环科技股份有限公司（以下简称"公司"）于 2024 年 8 月 19 日召 开第二届董事会第五次会议、第二届监事会第五次会议，于 2024 年 9 月 6 日召 开 2024 年第二次临时股东大会，审议通过了《关于使用暂时闲置募集资金进行 现金管理的议案》，同意在确保不影响正常生产经营和募集资金投资计划的情况 下，公司及子公司使用不超过人民币 60,000 万元的暂时闲置募集资金（含超募 资金）进行现金管理，用于购买安全性高、流动性好的投资产品，该额度自公司 股东大会审议通过后 12 个月内可循环滚动使用。具体内容详见公司于 2024 年 8 月 21 日刊登在巨潮资讯网的《关于使用暂时闲置募集资金进行现金管理的公 告》。 一、开立募集资金现金管理产品专用结算账户的情况 证券代码：301559 证券简称：中集环科 公告编号：2024-042 中集安瑞环科技股份有限公司 关于开立募集资金现金管理产品专用结算账户并签署募集 资金三方监管协议 ...

证券代码：301559 证券简称：中集环科 公告编号：2024-041 中集安瑞环科技股份有限公司 关于相关股东自愿延长股份锁定期的公告 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。 2、珠海鹏瑞森茂持有公司股份的情况 1 | 首发前限售股 | 24,843,899 | 4.14% | 限售期限为 10 | 2023 | 年 | 月 | 11 | | --- | --- | --- | --- | --- | --- | --- | --- | | 股份类别 | 股数（股） | 占总股本比例 | 限售情况的说明 日至 2024 10 | 年 | 月 | 10 | 日 | 注：珠海鹏瑞森茂最近十二个月内未发生减持公司股票的情况。 二、有关股份锁定期承诺情况 公司首次公开发行股票并在创业板上市前，公司股东珠海鹏瑞森茂就发行上 市前所持股份的锁定期承诺如下： 1、自本企业取得中集环科股份之日起 36 个月内或自中集环科本次发行上市 之日起 12 个月内（二者按孰晚之日为准），本企业不转让或者委托他人管理本 企业在本次发行上市前直接或间接持有的中集环科股份，也不由中 ...

Investment Rating and Target Price - The report initiates coverage on the company with a "Buy" rating and a target price of RMB 18.65 [1][5] - The target price is based on a 2.5x PB multiple for 2025, higher than the industry average of 1.7x [1] Core Investment Thesis - The company is the global leader in tank container manufacturing with a 48% market share in 2023 [11] - The tank container industry is cyclical with growth potential, driven by global chemical logistics demand [2][3] - Short-term recovery is expected from overseas chemical restocking, with 20-foot container exports up 66% YoY in May 2024 [3] - Medium-term growth is supported by stable industry competition and optimized logistics patterns [11] - Long-term growth potential lies in increased penetration of tank containers, currently below 10% globally [3][11] Financial Performance and Projections - Revenue is projected to grow from RMB 3.58 billion in 2024E to RMB 4.8 billion in 2025E [4] - Net profit is expected to increase from RMB 302.2 million in 2024E to RMB 445.25 million in 2025E, with a 31% CAGR from 2024-2026 [1][4] - ROE is forecasted to recover from 6.82% in 2024E to 10.27% in 2025E [4] - The company maintains a high dividend payout, with a 7.4% yield in 2023 and a commitment to over 50% cash dividend ratio for 2024-2026 [2][27] Industry Overview - Global tank container fleet reached 848,400 units in 2024, with an 8.72% CAGR from 2013-2023 [35] - China dominates tank container manufacturing, accounting for 90% of global production [38] - The industry follows a 4-year cycle, with production volume showing an upward trend over cycles [3][38] - Tank container penetration in chemical logistics remains low at 8-10%, offering significant growth potential [3][46] Competitive Landscape - The company has maintained a 50% global market share for over a decade [47] - The industry has high barriers to entry due to technical requirements, certifications, and customer loyalty [49][50] - The top 3 manufacturers (including the company) account for 82% of global production [35] - Downstream operators are fragmented, with the top 10 operators controlling 51% of the market [53] Growth Drivers - Recovery in overseas chemical demand, particularly in the US and Europe [44][45] - Increasing adoption of multimodal transportation, with China's rail-water intermodal share reaching 6.8% in 2023 [3] - Stricter safety and environmental regulations driving substitution of traditional transport methods [3][11] - Expansion of chemical production capacity in Asia, particularly China [39][41] Product and Market Diversification - The company offers a wide range of tank containers for liquids, gases, and powders, with stainless steel liquid containers accounting for 55.22% of revenue [18] - Medical equipment components business reached RMB 200 million in revenue in 2023, growing 20.38% YoY [20] - Aftermarket services generated RMB 160 million in revenue in 2023, up 14.96% YoY [20] - International sales dominate, contributing 75.4% of revenue in 2024H1 [20]

证券代码：301559 证券简称：中集环科 公告编号：2024-040 董事会 1 2024 年 9 月 27 日 2 凌白桦先生担任公司副总裁职务原定任期至 2026 年 11 月 8 日。截至本公告 披露日，凌白桦先生不存在应当履行而未履行的承诺事项，通过珠海紫琅企业管 理中心（有限合伙）间接持有公司 101.8980 万股，占公司总股本 0.17%。凌白桦 先生将继续履行在公司《首次公开发行股票并在创业板上市招股说明书》中所做 的相关承诺，其所持有公司股份将继续严格按照《深圳证券交易所创业板股票上 市规则》《上市公司董事、监事和高级管理人员所持本公司股份及其变动管理规 则》《深圳证券交易所上市公司自律监管指引第 18 号——股东及董事、监事、 高级管理人员减持股份》等相关规定进行管理。 凌白桦先生在担任公司副总裁期间恪尽职守，勤勉尽责。公司及董事会对凌 白桦先生任职期间的辛勤工作及为公司发展做出的贡献表示衷心感谢！ 特此公告。 中集安瑞环科技股份有限公司 中集安瑞环科技股份有限公司 关于副总裁退休离任的公告 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。 ...

证券代码：301559 证券简称：中集环科 编号：2024-019 中集安瑞环科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | |---------------------|--------------------------------------|-------------|--------| | | | | | | | ☑ 特定对象调研 | □分析师会议 | | | | □媒体采访 □业绩说明会 | | | | 投资者关系活动类 别 | □新闻发布会 □路演活动 | | | | | ☑ 现场参观 | | | | | ☑ 其他 _ 电话会议 | | | | | 一、9 月 24 日 现场调研 | | | | | 华福证券有限责任公司 曹钰涵 | | | | | 公司董事会办公室主任 王延民 | | | | | 二、 9 月 25 日 电话会议 | | | | | 华泰证券股份有限公司 | | 邵玉豪 | | | 泰康资产管理有限责任公司 刘志强 | | | | | 泰康资产管理有限责任公司 | | 李帛洋 | | 活动参与人员 | 公司董事、总裁 季国祥 | | ...

证券代码：301559 证券简称：中集环科 编号：2024-018 | --- | --- | --- | --- | |-------------------------|--------------------------------|----------------------------------------------------------|-------| | | | | | | | ☑ 特定对象调研 | □分析师会议 | | | | □媒体采访 □业绩说明会 | | | | 投资者关系活动类 别 | □新闻发布会 □路演活动 | | | | | □现场参观 | | | | | □其他 _ | | | | | | 宁银理财有限责任公司 潘亚洲 | | | | | 公司董事、总裁 季国祥 | | | 活动参与人员 | | 公司副总裁、首席财务官兼董事会秘书 张 | 毅 | | | | 公司董事会办公室主任 王延民 | | | 时间 | 2024 年 9 月 9 日 | | | | 地点 | 中集环科公司 | | | | 形式 | ☑ 现场 □网上 | □电话会议 | | | | 公司基本情况介绍 ...