Business Segments - The company operates in two main business segments: display materials and application materials, both of which are key emerging industries supported by national strategy[17]. - The display materials segment includes ultra-thin electronic glass, flexible foldable glass (UTG), and ITO conductive film glass, with a complete display industry chain[18]. - The application materials segment is accelerating in industries like photovoltaics, semiconductors, and high-end optics, presenting new growth opportunities[17]. Production and Technology Development - The company has achieved industrial-scale stable production of ultra-thin float electronic glass at thicknesses of 0.20mm, 0.15mm, and 0.12mm, recognized with the China Industrial Award[18]. - The UTG project has completed construction of its second-phase factory, with partial production capacity already established, aligning with market demand[18]. - The company is developing ultra-thin flexible glass with a thickness of 30 microns, leading in the domestic market for high-strength and ultra-thin glass[18]. - The integrated display touch module is focused on applications in tablets, laptops, smartphones, and automotive displays, with production capabilities already in place[18]. - The company is actively pursuing new technologies such as AMOLED and Micro-LED to strengthen its future development foundation[18]. Financial Performance - The company achieved operating revenue of approximately CNY 5.01 billion in 2023, representing a year-on-year increase of 6.17% compared to CNY 4.72 billion in 2022[29]. - The net profit attributable to shareholders decreased by 24.37% to approximately CNY 107.19 million in 2023 from CNY 141.74 million in 2022[29]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of approximately CNY 52.44 million in 2023 compared to a profit of CNY 2.25 million in 2022, marking a decrease of 2,427.29%[29]. - Operating profit was 20,459.77 million yuan, a year-on-year decrease of 25.27%[50]. - Total profit amounted to 20,236.83 million yuan, down 26.57% year-on-year[50]. Product and Market Expansion - The company is expanding its product offerings to include flexible foldable glass, Mini-LED backlight modules, and large-size display modules to enhance its competitive edge in the digital economy[18]. - The company’s display materials segment achieved operating revenue of approximately CNY 3.40 billion, with flexible foldable glass (UTG) entering an industry "upward phase"[34]. - The spherical materials segment saw a remarkable sales volume growth of 85%, driven by strong demand in copper-clad laminates, packaging materials, and new energy batteries[34]. - The company is actively exploring new business opportunities in automotive displays, large-screen curved displays, and smart wearable devices[34]. Research and Development - The company is adjusting its product lines and R&D paths to seek growth points in response to the rapid application of new technologies[17]. - The company applied for 82 new patents during the reporting period, including 58 invention patents[51]. - The company has a total of 234 R&D personnel, with the majority aged between 30 and 40 years[65]. - The number of R&D personnel is 618, accounting for 11.59% of the total workforce[89]. Environmental and Sustainability Initiatives - The company invested 28.09 million yuan in environmental protection during the reporting period, reflecting its commitment to sustainability[182]. - The company has established a comprehensive environmental management system to oversee its environmental performance[159]. - The company reported that all monitored pollutants from its subsidiaries met the national standards, with no instances of exceeding discharge limits[195]. - The company is actively pursuing environmental compliance and sustainability initiatives across its operations[199]. Governance and Management - The company completed the preparation and disclosure of 4 regular reports and 44 temporary announcements during the reporting period, ensuring comprehensive information disclosure reflecting governance and operational management[117]. - The total remuneration for all directors, supervisors, and senior management in the reporting period amounted to 7.4352 million yuan[128]. - The company has established several specialized committees, including the Audit Committee and the Compensation and Assessment Committee[143]. - The company has received standard unqualified opinions on its internal control audit, ensuring compliance and operational integrity[182]. Strategic Acquisitions - The company completed the acquisition of 100% of the shares of Kaisheng Quartz Materials (Taihu) Co., Ltd. and 70% of Anhui Kaisheng Basic Materials Technology Co., Ltd.[68]. - The company plans to acquire 100% equity of Kaisheng Quartz Materials (Taihu) Co., Ltd. and 70% equity of Anhui Kaisheng Basic Materials Technology Co., Ltd.[140]. Market Trends and Future Outlook - The flexible and foldable display technology is anticipated to see rapid growth, with significant market potential driven by advancements in manufacturing processes[100]. - The automotive sector is evolving towards smart and connected vehicles, increasing the demand for multi-screen displays in vehicles, indicating a substantial market opportunity[99]. - The rise of smart cities is driving the demand for smart commercial displays, which are crucial components of urban development[99]. - The company aims to maintain a steady growth strategy in 2024, emphasizing innovation and risk management to foster high-quality development[101].

凯盛科技股份有限公司 营业收入扣除情况表 专项核查报告 致同会计师事务所 (特殊普通合伙) 目 录 专项核查报告 2023 年度营业收入扣除情况表及说明 1-3 凯盛科技股份有限公司 营业收入扣除情况表专项核查报告 致同专字(2024)第 110A012673 号 凯盛科技股份有限公司: 我们接受委托,在审计了凯盛科技股份有限公司(以下简称"凯盛科技 公司"）2023年12月31日的合并及公司资产负债表,2023年度的合并及公司 利润表、合并及公司现金流量表、合并及公司股东权益变动表以及财务报表 附注的基础上,对后附的《凯盛科技公司 2023年度营业收入扣除情况表及说 明》（以下简称"营业收入扣除情况表"）进行了专项核查。 按照《上海证券交易所股票上市规则》(以下简称"上市规则")和 《上海证券交易所上市公司自律监管指南第2号 -- 业务办理》"第七号 财 多类退市指标:营业收入扣除"(以下简称"自律监管指南")的有关规定, 编制营业收入扣除情况表,保证其内容真实、准确、完整,不存在虚假记录、 误导性陈述或重大遗漏是凯盛科技公司管理层的责任,我们的责任是在实施 核查工作的基础上对凯盛科技公司管理层编制的营业收 ...

证券代码：600552 证券简称：凯盛科技 公告编号：2024-017 凯盛科技股份有限公司关于补充披露 营业收入扣除事项专项核查意见的提示性公告 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个别及连带责任。 凯盛科技股份有限公司（以下简称"公司"）于 2024 年 4 月 19 日在指定信息披露媒 体披露了《2023 年年度报告》，根据《上海证券交易所股票上市规则》9.3.3 条规定，应 当披露营业收入扣除情况及扣除后的营业收入金额，会计师事务所应当就公司营业收入扣 除事项出具专项核查意见。 公司 2023 年度归属于上市公司股东的净利润 107,191,169.24 元、归属于上市公司股 东的扣除非经常性损益的净利润-52,437,177.50 元、营业收入 5,010,030,472.54 元、营 业收入扣除金额 251,685,943.10 元、营业收入扣除后金额 4,758,344,529.44 元。公司 2023 年度审计机构已完成营业收入扣除专项核查报告的编制工作，现予以补充披露，具 体内容详见与本公告同日刊载在上海证券 ...

Investment Rating - The report maintains a "Buy" rating for the company [7][5]. Core Insights - The company reported Q1 2024 revenue of 1.26 billion, a year-on-year decrease of 0.5%, and a net profit attributable to shareholders of 0.14 billion, down 54.8% year-on-year. The non-recurring net profit showed a loss of 0.31 billion, but this was an improvement of 77.3% year-on-year [21][37]. - The new materials business is expected to expand, with projections for net profits of 0.22 billion and 0.29 billion in 2024 and 2025, respectively, corresponding to PE ratios of 48 and 38 [5][38]. Summary by Sections Financial Performance - Q1 2024 revenue was 1.26 billion, down 0.5% year-on-year; net profit attributable to shareholders was 0.14 billion, down 54.8% year-on-year; non-recurring net profit showed a loss of 0.31 billion, but improved by 77.3% year-on-year [21][37]. - The gross margin for Q1 was 14.3%, an increase of 1.4 percentage points year-on-year, primarily due to the contribution from high-purity quartz sand [37]. - The company’s operating expenses increased, with R&D expenses rising by 2.3 percentage points due to ongoing technological innovations [37]. Business Development - The company’s spherical materials have seen strong demand in various sectors, including copper-clad laminates, packaging materials, and new energy batteries, with sales increasing by 85% year-on-year [4]. - The UTG project is entering a growth phase, with successful integration into major client supply chains, including LGD and Samsung [22]. Future Outlook - The company has launched a stock incentive plan aimed at enhancing growth expectations, with projected non-recurring net profits of 0.18 billion, 0.26 billion, and 0.30 billion for 2024 to 2026 [38]. - The report anticipates a gradual recovery in revenue, with total revenue projections of 5.76 billion, 6.55 billion, and 7.50 billion for 2024, 2025, and 2026, respectively [28].

Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook on its future performance [32]. Core Views - The company is positioned as a leading player in the domestic UTG (Ultra-Thin Glass) market, with significant capacity expansion to meet the growing demand for foldable screens [32]. - The application materials segment is expected to see substantial growth, particularly in high-value zirconium-based products [32]. - The company has a strong incentive structure in place, with stock options linked to performance targets, which is expected to drive profitability [32]. Summary by Sections Company Overview - The company, established in 2000 and listed in 2002, focuses on display materials and application materials, both of which are key emerging industries in China [71]. - The company operates under the "3+1" strategy, which includes three main business segments and one R&D platform [71]. Display Materials - The company is a leader in the UTG market, with a significant increase in the adoption of UTG in foldable smartphones, rising from 13% in 2020 to nearly 70% in 2023 [82]. - The second phase of UTG production capacity is being gradually released, with a target of 15 million pieces per year [82]. Application Materials - The application materials segment has seen a CAGR of 15% from 2014 to 2023, focusing on zirconium, silicon, and titanium products [83]. - The zirconium series is expected to generate significant revenue, particularly from high-value nano-composite zirconia [83]. - The company is also expanding its product range to include high-purity silicon and nano-titanium barium, which are critical for various high-tech applications [83]. Financial Forecast and Investment Recommendations - The company is projected to achieve net profits of 226 million, 308 million, and 396 million yuan for the years 2024, 2025, and 2026, respectively [32]. - The current price corresponds to dynamic P/E ratios of 43x, 32x, and 24x for the same years, indicating a favorable valuation [32].

| | £特定对象调研 £分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 £业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | R 现场参观 □线上交流 | | | R 座谈交流 | | | 天风证券、民生证券、光大证券、华福证券、鸿道投资、财通资管、壹泽 | | 参与单位名称 | 投资、浔峰投资、国泰君安、兴业基金、山西证券、智富圈基金、名禹资 | | | 15 19 产、亿能投资、仁和人寿等合计 家机构 人。 | | 时间 | 2024 年 5 月 13 日（14：00－18：00） | | 方式 | 现场调研 | | 上市公司 | 常务副总经理/董事会秘书 王伟 | | 参会人员 | 相关部门负责人及技术专家 | | | 本次开展的投资者关系活动，公司主要安排参观了合成二 | | 与投资人交流 | 氧化硅项目现场、纳米氧化锆车间、浮法玻璃国家重点实验 | | 主要内容介绍 | 室、UTG 生产线、电子玻璃生产线等，投资者在各参观现场与相 | | | 关负责人进行了交流。 | | | 此外，公司还安排了座谈会，邀请合成石英砂技术专家就 | | | 相关产品和 ...

证券代码：600552 证券简称：凯盛科技 公告编号：2024-016 凯盛科技股份有限公司 关于非公开发行限售股份上市流通的提示性公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为非公开发行股份；股票认购方式为网下，上市股数为 49,192,771 股。 本次股票上市流通总数为 49,192,771 股。 本次股票上市流通日期为 2024 年 5 月 20 日。 一、 本次上市流通的限售股类型 经凯盛科技股份有限公司（以下简称"凯盛科技"、"公司"）2021 年第三次临 时股东大会审议通过，并经中国证券监督管理委员会《关于核准凯盛科技股份有 限公司非公开发行股票的批复》（证监许可[2022]1820 号）核准同意，公司以发行 价格 8.30 元/股向特定对象非公开发行股票 180,722,891 股，2022 年 11 月 14 日， 公司在中国证券登记结算有限责任公司上海分公司办理了本次发行新增的 180,722,891 股股份的登记托管及限售手续。本次非公开发行完成后，公司总股本 ...

中信证券股份有限公司关于凯盛科技股份有限公司 非公开发行限售股份上市流通的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为凯盛 科技股份有限公司（以下简称"凯盛科技"或"公司"）非公开发行股票的保荐 机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上市规则》 《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有关法律、 法规和规范性文件的规定，对凯盛科技非公开发行限售股上市流通事项进行了核 一、本次上市流通的限售股类型 经凯盛科技 2021 年第三次临时股东大会审议通过，并经中国证券监督管理 委员会《关于核准凯盛科技股份有限公司非公开发行股票的批复》（证监许可 [2022]1820 号）核准同意，公司以发行价格 8.30 元/股向特定对象非公开发行股 票 180,722,891 股，2022 年 11 月 14 日，公司在中国证券登记结算有限责任公司 上海分公司办理了本次发行新增的 180,722,891 股股份的登记托管及限售手续。 本次非公开发行完成后，公司总股本由 763,884,003 股增加至 944,606,894 股。（具 体详见公司于 202 ...

证券代码：600552 证券简称：凯盛科技 公告编号：2024-015 本项目主要为公司车载及笔电模组提供相关配套产品，进一步拓展公司显示材料板块 在高端盖板市场领域的布局，提升公司显示产业链供应能力，提高显示材料产品附加值， 增强企业整体效益。 经与会董事投票表决，7 票通过，0 票反对，0 票弃权，100%通过。 特此公告。 凯盛科技股份有限公司董事会 凯盛科技股份有限公司 第八届董事会第二十八次会议决议公告 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个别及连带责任。 凯盛科技股份有限公司（以下简称"公司"）第八届董事会第二十八次会议于 2024 年 5 月 10 日下午 15：30 在公司三楼会议室以现场加通讯方式召开。本次会议由董事长夏 宁先生主持，应参加表决董事 7 人，实际参加表决董事 7 人。公司监事、高管人员列席会 议。会议应参加表决董事超过半数，符合《公司法》、《公司章程》的有关规定，会议表决 合法有效。 与会董事认真审议了本次会议有关议案，经过投票表决，一致通过如下决议： 一、关于投资建设 3A 玻璃盖板生产线项 ...

凯盛科技股东大会之法律意见书 上海天衍禾律师事务所 关于凯盛科技股份有限公司 2023年年度股东大会 之 法律意见书 地址：中国上海市陕西北路 1438 号财富时代大厦 2401 电话：（021）-52830657 传真：（021）-52895562 凯盛科技股东大会之法律意见书 天律意2024第01024号 致：凯盛科技股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和 国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》（以下简称"《股 东大会规则》"）等有关法律、法规和规范性文件以及《凯盛科技股份有限公司章程》 （以下简称《公司章程》）的有关规定，上海天衍禾律师事务所（以下简称"本所"） 接受凯盛科技股份有限公司（以下简称"凯盛科技"或"公司"）的委托，指派汪大 联律师、姜利律师（以下简称"本所律师"）出席见证于2024年5月10日召开的凯盛 科技2023年年度股东大会（以下简称"本次会议"），并出具本法律意见书。 在出具本法律意见书之前，本所律师声明如下： 本法律意见书仅供公司为本次会议之目的使用，不得用作任何其他目的。 本所律师已严格履行法定职责，遵循了勤 ...