Investment Rating - The report maintains a "Recommended" rating for the company [2][4]. Core Views - The company achieved a revenue of 3.825 billion yuan in Q1-Q3 2024, representing a year-on-year increase of 4.12%. The net profit attributable to shareholders was 720 million yuan, up 17.29% year-on-year [2]. - The report highlights the stable growth in Q3, with a revenue of 1.239 billion yuan, a slight decrease of 0.99% year-on-year, while the net profit increased by 7.23% to 245 million yuan [2]. - The report emphasizes the positive outlook for the company's growth driven by the increasing demand for borosilicate molded bottles, export market conditions, and the reduction in soda ash costs enhancing profit margins [2]. Financial Performance Summary - For Q1-Q3 2024, the gross margin was 31.58%, an increase of 0.88 percentage points year-on-year, while the net profit margin was 19.80%, up 1.52 percentage points year-on-year [2]. - The report notes a decrease in the average price of heavy soda ash to 2012 yuan/ton, down 18.2% year-on-year, while the price of LNG increased to 4906 yuan/ton, up 19.6% year-on-year [2]. - The company adjusted its net profit forecasts for 2024-2026 to 934 million, 1.085 billion, and 1.242 billion yuan, respectively, corresponding to PE ratios of 18, 16, and 14 times [2][5].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 32.54 CNY, reflecting a 21x PE for 2024 [4][6]. Core Views - The company achieved a net profit of 245 million CNY in Q3, marking a year-on-year increase of 7.23%. For the first three quarters, the revenue and net profit reached 382.5 million CNY and 72 million CNY, respectively, with year-on-year growth of 4.12% and 17.29% [1]. - The report highlights that the company's net profit margin continues to grow, reaching a historical high of 19.80% in Q3, up 1.52 percentage points year-on-year [2]. - The company is expected to maintain high growth due to increasing demand in the downstream market and favorable raw material prices, which are anticipated to enhance profitability further [4]. Financial Performance Summary - In Q3, the company reported a revenue of 1.239 billion CNY, a decrease of 0.99% year-on-year, while the net profit for the same period was 245 million CNY, an increase of 7.23% year-on-year [1]. - The overall gross margin for the first three quarters was 32.10%, up 3.89 percentage points year-on-year, with Q3 gross margin at 31.58% [2]. - The company's asset-liability ratio increased to 21.96%, up 3.73 percentage points year-on-year, while operating cash flow improved to 813 million CNY, an increase of 86 million CNY year-on-year [3]. Earnings Forecast - The company is projected to achieve net profits of 1.03 billion CNY, 1.27 billion CNY, and 1.50 billion CNY for 2024, 2025, and 2026, respectively, with growth rates of 32.54%, 23.12%, and 18.17% [5][10]. - The report anticipates a steady increase in revenue, forecasting 5.91 billion CNY in 2024, 6.82 billion CNY in 2025, and 7.75 billion CNY in 2026, with corresponding growth rates of 18.65%, 15.40%, and 13.58% [5][12].

证券代码：600529 证券简称：山东药玻 编号：2024-064 山东省药用玻璃股份有限公司 第十届董事会第十四次会议决议公告 本公司董事会及全体董事保证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个别及连带责任。 第一部分、董事会会议召开情况 具体内容详见在上海证券交易所网站（www.sse.com.cn）披露 的《山东省药用玻璃股份有限公司2024年第三季度报告》。 赞成票：9票，反对票：0票，弃权票：0票。 第三部分、备查文件 1、山东省药用玻璃股份有限公司第十届董事会第十四次会议决 议。 1 2、山东省药用玻璃股份有限公司第十届董事会审计委员会 2024 年第四次会议决议 特此公告。 山东省药用玻璃股份有限公司 山东省药用玻璃股份有限公司（以下简称"公司"或"山东药 玻"）第十届董事会第十四次会议通知于2024年10月15日以书面结 合通讯方式向全体董事发出，会议于2024年10月26日上午9:00，在 公司研发大楼六楼会议室以现场结合通讯方式召开，会议应到董事9 名，现场实到董事5名, 4名董事以通讯方式进行表决，2名监事、财 务负责人、董事会秘书列 ...

证券代码：600529 证券简称：山东药玻 编号：2024-065 山东省药用玻璃股份有限公司 第十届监事会第十二次会议决议公告 本公司监事会及全体监事保证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个别及连带责任。 第一部分、监事会会议召开情况 山东省药用玻璃股份有限公司（以下简称"公司"或"山东药玻"） 第十届监事会第十二次会议通知，于2024年10月15日以书面方式向全 体监事发出，会议于2024年10月26日上午在公司研发大楼六楼会议室 召开，应到监事3名，现场实到监事2名，1名监事通讯表决，会议由 公司监事会主席召集并主持，符合《公司法》和《公司章程》的有关 规定。 第二部分、监事会会议审议情况 本次会议由监事会主席主持，以记名投票方式审议通过了《公司 2024年第三季度报告》，具体内容详见在上海证券交易所网站 （www.sse.com.cn）披露的《山东省药用玻璃股份有限公司2024年第 三季度报告》。 虚假记载、误导性陈述或者重大遗漏。 第三部分、备查文件 1、山东省药用玻璃股份有限公司第十届监事会第十二次会议决 议。 特此公告。 山东省药用玻璃股 ...

Financial Performance - The company's operating revenue for Q3 2024 decreased by 0.99% year-on-year, totaling CNY 3,824,950,899.24[2] - Net profit attributable to shareholders increased by 7.23% year-on-year, reaching CNY 720,431,146.66[2] - The basic earnings per share for the period was CNY 1.0856, reflecting a year-on-year increase of 17.29%[2] - Total operating revenue for the first three quarters of 2024 reached CNY 3,824,950,899.24, an increase from CNY 3,673,747,350.74 in the same period of 2023, representing a growth of approximately 4.1%[16] - Net profit for the first three quarters of 2024 was CNY 720,431,146.66, compared to CNY 614,234,124.50 in 2023, reflecting a growth of approximately 17.3%[17] - The total comprehensive income for the third quarter of 2024 reached ¥720,431,146.66, an increase from ¥614,234,124.50 in the same period of 2023, representing a growth of approximately 17.3%[18] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 9,979,007,795.90, representing a 7.09% increase compared to the end of the previous year[3] - Total assets as of the end of Q3 2024 amounted to CNY 9,979,007,795.90, up from CNY 9,318,721,550.84 at the end of Q3 2023, showing an increase of approximately 7.1%[15] - Total liabilities increased to CNY 2,191,409,778.84 in 2024 from CNY 1,784,212,772.67 in 2023, representing a growth of about 22.8%[15] - The company's total non-current assets reached CNY 4,033,853,686.34, compared to CNY 3,773,115,590.79 in the previous year, indicating an increase of approximately 6.9%[15] - The total equity attributable to shareholders increased to CNY 7,787,598,017.06 in 2024 from CNY 7,534,508,778.17 in 2023, reflecting a growth of about 3.4%[15] Cash Flow - Cash flow from operating activities for the period was CNY 813,077,771.74, showing an increase of 11.78% year-on-year[2] - Cash inflow from operating activities for the first three quarters of 2024 was ¥3,999,117,010.56, up from ¥3,380,687,417.80 in 2023, indicating a growth of approximately 18.3%[19] - Net cash flow from operating activities for the first three quarters of 2024 was ¥813,077,771.74, compared to ¥727,382,605.46 in 2023, showing an increase of approximately 11.8%[21] - Cash inflow from investment activities was ¥4,781,146,372.42 in the first three quarters of 2024, compared to ¥3,776,990,140.61 in 2023, representing a growth of about 26.5%[21] - Net cash flow from investment activities for the first three quarters of 2024 was -¥914,709,385.13, worsening from -¥773,012,986.54 in 2023[21] Shareholder Information - The number of shareholders holding more than 5% of shares includes Shandong Luzhong Investment Co., Ltd. with 19.50% ownership[10] - The top ten shareholders collectively hold a significant portion of the company's shares, with Shandong Luzhong Investment Co., Ltd. holding 129,380,980 shares[10] - The company reported a total of 54,216,959 shares held by China Bank Co., Ltd. - Huabao CSI Medical ETF, representing 8.17% of total shares[10] - The company has engaged in securities lending activities, with 3,000,000 shares held in a credit securities account by Shandong Luzhong Investment Co., Ltd.[11] Research and Development - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[12] - Research and development expenses increased to CNY 115,324,642.87 in 2024 from CNY 93,377,102.40 in 2023, marking a rise of about 23.5%[17] Other Financial Metrics - Non-recurring gains and losses for the period totaled CNY 11,422,297.56, with a cumulative amount of CNY 31,417,481.81 for the year-to-date[5] - The company reported a significant increase of 236.16% in asset disposal gains compared to the same period last year[7] - The company experienced a 40.10% increase in trading financial assets year-to-date, attributed to increased purchases of structured bank deposits[6] - The company’s other income increased by 146.92% year-on-year, primarily due to an increase in VAT deductions[7] - Total current assets as of September 30, 2024, amounted to CNY 5,945,154,109.56, an increase from CNY 5,545,605,960.05 as of December 31, 2023, representing a growth of approximately 7.2%[13] - Cash and cash equivalents decreased to CNY 1,087,938,009.78 from CNY 1,466,329,926.87, a decline of about 26%[13] - Inventory increased to CNY 1,206,411,867.83 from CNY 1,054,610,571.71, reflecting a growth of approximately 14.4%[13] - The company's fixed assets rose to CNY 3,473,295,662.24 from CNY 2,994,659,152.84, indicating an increase of around 16%[13] - The total receivables, including notes and accounts, reached CNY 1,770,484,575.04, up from CNY 1,646,346,464.57, marking an increase of about 7.6%[13] - The company's financial expenses showed a decrease, with a net financial cost of -CNY 25,023,212.79 in 2024 compared to -CNY 28,720,110.06 in 2023, indicating improved financial management[17] - Deferred income increased significantly to CNY 110,700,597.67 in 2024 from CNY 57,620,534.05 in 2023, representing an increase of approximately 91.9%[15] - Cash outflow from operating activities totaled ¥3,186,039,238.82 in the first three quarters of 2024, compared to ¥2,653,304,812.34 in 2023, marking an increase of about 20.0%[21] - Cash and cash equivalents at the end of the third quarter of 2024 stood at ¥929,434,878.59, slightly down from ¥934,200,506.87 at the end of the same period in 2023[21] - The company reported tax payments of ¥237,079,540.17 in the third quarter of 2024, compared to ¥204,970,310.22 in 2023, reflecting an increase of approximately 15.6%[21] - The company’s cash inflow from sales of goods and services for the first three quarters of 2024 was ¥3,872,882,678.24, up from ¥3,308,413,735.28 in 2023, indicating a growth of about 17.0%[19]

证券代码：600529 证券简称：山东药玻 公告编号：2024-066 山东省药用玻璃股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2024 年 11 月 05 日(星期二) 上午 09:00-10:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 本次投资者说明会以网络互动形式召开，公司将针对 2024 年 1-3 季度的经营成果及财务指标的具体情况与投资者进行互动交流和沟 通，在信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 （一） 会议召开时间：2024 年 11 月 05 日 上午 09:00-10:00 （二） 会议召开地点：上证路演中心 （三） 会议召开方式：上证路演中心网络互动 三、 参加人员 投资者可于 2024 年 10 月 29 日(星期二) 至 11 月 04 日(星期 一) ...

证券代码：600529 证券简称：山东药玻 公告编号：2024-063 公司于 2024 年 7 月 26 日以闲置募集资金购买了中国建设银行股 份有限公司定制型结构性存款【37063000020240726001】8,000.00 万元，收益起始日：2024 年 7 月 26 日，到期日：2024 年 10 月 23 日。 具体情况详见公司刊登在上海证券交易所网站（www.sse.com.cn）上 的《山东省药用玻璃股份有限公司关于使用部分闲置募集资金购买理 1 本公司董事会及全体董事保证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个别及连带责任。 公司于 2024 年 4 月 20 日召开了第十届董事会第十二次会议和第 十届监事会第十次会议，并于 2024 年 5 月 16 日召开了 2023 年年度 股东大会，审议通过了《关于使用闲置募集资金购买理财产品的议案》， 同意公司使用总额度不超过人民币 10 亿元的暂时闲置募集资金进行 购买安全性高、流动性好、期限不超过 12 个月（含）的保本型理财 产品（包括但不限于协定性存款、结构性存款、定期存款、通知存款、 ...

山东省药用玻璃股份有限公司 关于控股股东部分股份质押的公告 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、 误导性陈述或者重大遗漏，并对其内容的真实、准确和完整承担个别及连带责任。 证券代码：600529 证券简称：山东药玻 编号：2024-062 重要内容提示: ●山东鲁中投资有限责任公司（以下简称"鲁中投资"）持有山东省 药用玻璃股份有限公司（以下简称"本公司"、"公司"）股份数量 129,380,980 股（无限售流通股），占公司股份总数的 19.50%，为本公司 控股股东。 | 股东名 | 是否为 | 本次质押股 | 是否 | 是否 | | 质押到 | | 占其所 | 占公司 | 质押融 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 称 | 控股股 | 数 | 为限 | 补充 | 质押起始日 | 期日 | 质权人 | 持股份 | 总股本 | 资资金 | | | 东 | | 售股 | 质押 | | | | 比例 | 比例 | 用途 | | 鲁中 投资 | | | | | 2024 ...

证券代码：600529 证券简称：山东药玻 公告编号：2024-061 山东省药用玻璃股份有限公司 关于使用部分闲置募集资金购买理财产品到期赎回 并继续购买理财产品的进展公告 本公司董事会及全体董事保证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个别及连带责任。 重要内容提示： ●委托理财受托方:中国银行股份有限公司 ●委托理财金额：人民币 9,800.00 万元、10,200.00 万元 ●委托理财产品名称：人民币结构性存款 CSDVY202416040、人 民币结构性存款 CSDVY202416041 ●委托理财产品期限：91 天、93 天 ●履行的审议程序：公司于 2024 年 4 月 20 日召开了第十届董事 会第十二次会议和第十届监事会第十次会议，并于 2024 年 5 月 16 日 召开了 2023 年年度股东大会，审议通过了《关于使用闲置募集资金 购买理财产品的议案》，同意公司使用总额度不超过人民币 10 亿元的 暂时闲置募集资金进行购买安全性高、流动性好、期限不超过 12 个 月（含）的保本型理财产品（包括但不限于协定性存款、结构性存款、 定期存 ...

证券代码：600529 证券简称：山东药玻 公告编号：2024-060 山东省药用玻璃股份有限公司 关于部分闲置募集资金购买理财产品到期赎回的公告 本公司董事会及全体董事保证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个别及连带责任。 公司于 2024 年 7 月 17 日以闲置募集资金购买了中国建设银行股 份有限公司定制型结构性存款【37063000020240717001】20,000.00 万元，收益起始日：2024 年 7 月 17 日，到期日：2024 年 10 月 15 日。 具体情况详见公司刊登在上海证券交易所网站（www.sse.com.cn）上 的《山东省药用玻璃股份有限公司关于使用部分闲置募集资金购买理 1 财产品到期赎回并继续购买理财产品的进展公告》（公告编号： 2024-046）。 公司已于 2024 年 10 月 15 日到期赎回中国建设银行股份有限公 司定制型结构性存款【37063000020240717001】本金 20,000.00 万元， 理财收益人民币 876,387.45 元，收益率为 1.777%。 以上本金及利息于 20 ...