本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 股票简称：生益科技 股票代码：600183 公告编号：2025—025 广东生益科技股份有限公司 第十一届监事会第六次会议决议公告 一、监事会会议召开情况 广东生益科技股份有限公司（以下简称"公司"）第十一届监事会第六次会议于 2025 年 4 月 28 日以通讯表决的方式召开。2025 年 4 月 23 日，公司以邮件方式向监事及董事会 秘书发出本次会议通知和会议资料。本次会议应参加的监事 3 名，实际参加会议的监事 3 名，符合《公司法》和《公司章程》的有关规定。 二、监事会会议审议情况 （一）审议通过《2025 年第一季度报告》 监事会一致认为： （1）公司 2025 年第一季度报告的编制和审议程序符合《公司法》《公司章程》等相关 法律法规的有关规定。 （2）公司 2025 年第一季度报告的内容与格式符合上海证券交易所的有关规定，公司 2025 年第一季度报告公允、全面、真实地反映了公司 2025 年第一季度的财务状况和经营成 果等事项。 （3）季报编制过程中，未发现公司参 ...

广东生益科技股份有限公司 第十一届董事会第七次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 广东生益科技股份有限公司（以下简称"公司"）第十一届董事会第七次会议于 2025 年 4 月 28 日以通讯表决方式召开。2025 年 4 月 23 日，公司以邮件方式向董事、监事及高 级管理人员发出本次董事会会议通知和会议资料。本次会议应参加董事 11 人，实际参加董 事 11 人，符合《公司法》及《公司章程》的规定。 二、董事会会议审议情况 （一）审议通过《2025 年第一季度报告》 股票简称：生益科技 股票代码：600183 公告编号：2025—024 表决结果：同意 11 票，反对 0 票，弃权 0 票，回避 0 票。 上述议案经董事会审计委员会事前认可并审议通过后同意提交董事会审议。 内容详见公司于 2025 年 4 月 29 日登载于上海证券交易所网站(http://www.sse.com.cn) 以及刊登在《上海证券报》《中国证券报》及《证券时报》的《广东生益科技股份有限公司 202 ...

股票简称：生益科技 股票代码：600183 公告编号：2025—026 广东生益科技股份有限公司 关于非公开发行可交换公司债券的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 广东生益科技股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日召开第十一届 董事会第七次会议，审议通过了《关于公司符合非公开发行可交换公司债券条件的议案》 《关于非公开发行可交换公司债券方案的议案》《关于提请股东大会授权董事会及董事会 授权对象全权办理有关本次非公开发行可交换公司债券相关事宜的议案》等相关议案，公 司拟申请在上海证券交易所面向专业机构投资者非公开发行可交换公司债券，本次可交换 公司债券尚须提交股东大会审议并取得上海证券交易所的无异议函。具体内容公告如下： 一、关于公司符合非公开发行可交换公司债券条件的说明 根据《公司法》《证券法》《公司债券发行与交易管理办法》等法律、法规及规范性文 件的规定，公司董事会对照上市公司非公开发行可交换公司债券的资格和条件，对公司的 实际经营情况及相关事项进行了自查，公司董事会认为公司符合 ...

Financial Performance - The company's operating revenue for Q1 2025 reached CNY 5,611,370,948.47, representing a year-on-year increase of 26.86% compared to CNY 4,423,260,330.56[4] - Net profit attributable to shareholders was CNY 563,647,263.06, up 43.76% from CNY 392,086,387.33 in the same period last year[4] - The basic earnings per share increased by 41.18% to CNY 0.24 from CNY 0.17[4] - The company reported a net profit after deducting non-recurring gains and losses of CNY 559,554,750.56, which is a 44.97% increase year-on-year[4] - The company attributed the profit growth to increased sales volume and optimized sales structure in the copper-clad laminate segment[7] - The company continues to implement cost reduction and efficiency enhancement measures, contributing to the significant profit increase[8] - Total operating revenue for Q1 2025 reached ¥5,611,370,948.47, a 27% increase from ¥4,423,260,330.56 in Q1 2024[19] - Net profit for Q1 2025 was ¥634,861,357.91, representing a 57% increase compared to ¥403,698,746.21 in Q1 2024[20] - Operating profit for Q1 2025 was ¥718,600,972.68, an increase of 58% from ¥454,712,927.16 in Q1 2024[19] - The company reported a total comprehensive income of ¥631,379,904.13 for Q1 2025, compared to ¥387,202,832.01 in Q1 2024[20] Cash Flow - The net cash flow from operating activities was CNY 271,196,334.88, reflecting a significant increase of 103.62% compared to CNY 133,187,435.48 in the previous year[4] - Cash flow from operating activities for Q1 2025 was ¥271,196,334.88, compared to ¥133,187,435.48 in Q1 2024, indicating a significant improvement[22] - Cash flow from investing activities for Q1 2025 was -¥402,336,454.38, slightly worse than -¥373,635,297.07 in Q1 2024[23] - Cash flow from financing activities for Q1 2025 was -¥232,316,606.71, an improvement from -¥506,322,982.07 in Q1 2024[23] - Net cash flow from operating activities for Q1 2025 was $467,480.72, a significant decrease compared to $218 million in Q1 2024[32] - Cash outflow from investing activities in Q1 2025 totaled approximately $67.85 million, compared to $24.25 million in Q1 2024, indicating a substantial increase in investment expenditures[33] - Net cash flow from investing activities for Q1 2025 was -$17.77 million, an improvement from -$24.25 million in Q1 2024[33] - Cash inflow from financing activities in Q1 2025 was approximately $549.31 million, a significant increase from $34.85 million in Q1 2024[33] - Net cash flow from financing activities for Q1 2025 was $29.02 million, compared to a negative $578.06 million in Q1 2024, indicating a recovery in financing[33] Assets and Liabilities - Total assets at the end of the reporting period were CNY 28,423,385,433.82, a 2.82% increase from CNY 27,643,247,046.83 at the end of the previous year[5] - The company's current assets totaled RMB 17,225,530,057.86, up from RMB 16,612,661,756.64, indicating an increase of about 3.7%[14] - Total liabilities decreased slightly to RMB 11,129,977,534.52 from RMB 11,138,288,223.06, showing a marginal decline of about 0.1%[16] - The company's equity attributable to shareholders rose to RMB 15,604,035,416.80 from RMB 14,904,781,423.60, reflecting an increase of approximately 4.7%[16] - The total assets of the company reached ¥17,665,016,603.69 as of March 31, 2025, compared to ¥17,145,078,711.64 at the end of 2024, representing an increase of 3%[27] - The total liabilities increased to ¥4,938,206,304.01 as of March 31, 2025, from ¥4,833,300,936.06 at the end of 2024, showing a rise of 2.2%[27] - The total equity of the company increased to ¥12,726,810,299.68 as of March 31, 2025, from ¥12,311,777,775.58 at the end of 2024, reflecting a growth of 3.4%[27] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 87,615[10] - The company has not reported any significant changes in the participation of major shareholders in the securities lending and borrowing business[12] Research and Development - Research and development expenses increased to ¥118,610,133.76 in Q1 2025, compared to ¥94,927,502.27 in Q1 2024, marking a rise of 25%[29] Other Financial Metrics - The company's gross profit margin for Q1 2025 was approximately 19.9%, compared to 20.1% in Q1 2024, indicating a slight decrease[29] - The company reported a decrease in financial expenses to ¥5,674,859.37 in Q1 2025 from ¥8,041,303.90 in Q1 2024, a reduction of 29.3%[29]

生益科技（600183）公告，2025年第一季度营业收入56.11亿元，同比增长26.86%。净利润5.64亿元， 同比增长43.76%。 ...

Investment Rating - The report maintains an "Increase" rating for the environmental protection industry [1] Core Views - The solid waste sector is expected to enhance dividends and return on equity (ROE), supported by a decrease in capital expenditure and improved free cash flow as the industry matures [9][10] - The report emphasizes the importance of stable growth, price reforms, and increased dividends, suggesting a comprehensive allocation strategy focusing on domestic demand-driven assets [11][13] Summary by Sections Industry Trends - The solid waste sector is entering a mature phase, leading to a significant improvement in free cash flow and dividend payouts. For instance, Junxin Co. plans to distribute 507 million yuan in cash dividends for 2024, a 37% increase, with a dividend payout ratio of 94.59% [9] - The report highlights the growth of the environmental sanitation equipment market, with a 51% year-on-year increase in new energy vehicle sales in the first quarter of 2025, reaching a penetration rate of 14.36% [27][28] Company Tracking - Green Power reported a 33% increase in net profit for Q1 2025, driven by reduced costs and increased heating supply, with a significant rise in free cash flow [9] - Junxin Co. achieved a 31% revenue growth in 2024, with a net profit of 536 million yuan, reflecting strong performance from new projects [9] - The report notes that Jingjin Equipment experienced a 92% increase in revenue from supporting equipment, despite a slight decline in overall revenue [9] Policy Tracking - The Ministry of Finance allocated over 13.5 billion yuan for energy-saving and emission-reduction subsidies in 2025, indicating strong governmental support for the industry [9] - The report discusses the impact of price reforms on the water industry, which is expected to enhance profitability and stabilize cash flows [14] Market Opportunities - The report identifies potential growth areas in the recycling of lithium batteries, with stable metal prices and a slight decline in profitability, suggesting a need for industry consolidation and improvement in profit margins [38][39] - The solid waste sector is expected to benefit from new business models, including waste-to-energy and data center collaborations, which could significantly enhance ROE [10]

证券代码：600183 证券简称：生益科技 公告编号：2025-022 广东生益科技股份有限公司 2024 年年度股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 1,244 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,445,529,960 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 59.5024 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会采用现场投票和网络投票相结合的表决方式召开，由广东生益 (一) 股东大会召开的时间：2025 年 4 月 18 日 (二) 股东大会召开的地点：广东省东莞市松山湖园区工业西路 5 号 公司研发 办公大楼二楼 222 会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 科技股份有限公司（以下 ...

股票简称：生益科技 股票代码：600183 公告编号：2025—023 广东生益科技股份有限公司 关于回购注销部分限制性股票减资暨通知债权人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、通知债权人的原因 广东生益科技股份有限公司（以下简称"公司"、"生益科技"）于 2025 年 3 月 27 日召 开第十一届董事会第六次会议和第十一届监事会第五次会议，审议通过了《关于回购注销 2024 年度限制性股票激励计划部分已获授但尚未解除限售的限制性股票的议案》，鉴于公司 2024 年度限制性股票激励计划有 2 名激励对象因个人原因离职、有 2 名激励对象因个人绩 效考核未达标，根据公司《2024 年度限制性股票激励计划（草案）》的相关规定，上述人员 已不具备激励对象资格，公司决定以自有资金回购注销前述激励对象已获授但尚未解除限售 的限制性股票合计 97,600 股。回购注销实施完毕后，公司有限售条件股份减少 97,600 股， 公司总股本由 2,429,360,530 股减少至 2,429,262,930 股，第十一届董 ...

法律意见书 广州市天河区珠江东路 32 号利通广场 29 层 邮编：510623 29/F, Lea Top Plaza, 32#Zhujiang East Road, Tianhe District, Guangzhou, 510623 电话/TEL：（8620) 37392666 传真/FAX：（8620) 37392826 网址/WEB：www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 2024 年年度股东大会的法律意见书 康达股会字【2025】第 0011 号 致：广东生益科技股份有限公司 北京市康达（广州）律师事务所（下称"本所"）接受广东生益科技股份有 限公司（下称"生益科技"或"公司"）委托，指派律师出席公司 2024 年年度 股东大会。根据《中华人民共和国公司法》（下称"《公司法》"）、《中华人 民共和国证券法》（下称"《证券法》"）、《上市公司股东会规则》（下称"《股 东会规则》"）等法律、法规、规范性文件以及《广东生益科技股份有限公司章 程》（下称"生益科技《公 ...

Summary of Conference Call Notes Company and Industry Overview - The conference call discusses the PCB (Printed Circuit Board) industry, highlighting companies such as Shenghong, Gudian, and Jingwang as quality representatives in the sector [1][2]. - The company being analyzed is a leading manufacturer of sub-boards, established in 1985 and listed in 1998, marking it as the first publicly listed company in the domestic sub-board industry [2]. Core Insights and Arguments - The PCB industry is expected to experience beta growth opportunities driven by high demand in AI and accelerated automotive electronics [1]. - The company has established a comprehensive product matrix through continuous R&D investments, covering various types of PCBs including conventional FR4, high TG, automotive electronics, high-frequency, and packaging boards [3]. - The transition from traditional PCBs to environmentally friendly versions is noted, with a shift towards no-fiber and no-leak boards to meet modern electronic product standards [4]. - The company anticipates a revenue increase to 20.4 billion yuan in 2020, representing a 23% year-over-year growth, with a net profit of 1.7 billion yuan, a 50% increase [6]. - For the first three quarters of 2024, the company reported sales, gross margin, and net margin of 22% and 9.8%, respectively, showing improvements from the previous year [7]. Additional Important Points - The demand for high-end products, particularly in AI and high-speed communication, is driving profit margin recovery for the company [7]. - The introduction of low-loss PTFE sub-copper boards for applications like millimeter-wave radar and RF circuits is a significant technological advancement, breaking overseas monopolies [9]. - The company is expected to transition from a cyclical to a growth-oriented profile, with an increase in high-end product proportion enhancing profitability [10]. - Risks include potential overcapacity if downstream demand does not meet expectations, leading to intensified competition and quality control issues [11].