Investment Rating - The report maintains a "Buy" rating for Jinjing Technology (600586.SH) [2] Core Views - The company's Malaysian subsidiary has seen both volume and profit growth, benefiting from the sustained demand for photovoltaic products in the U.S. and improved raw material costs [2] - The second quarter saw a decline in gross margin due to falling soda ash prices, with a gross margin of 18.2%, down approximately 3.8 percentage points from the first quarter [2] - The report highlights the completion of the TCO coating production line upgrade and the ongoing efforts to engage with overseas customers for product validation and introduction [2] Summary by Sections Performance Overview - In the first half of 2024, the company reported revenue of 3.55 billion yuan, a year-on-year decrease of 4.4%, and a net profit attributable to shareholders of 270 million yuan, an increase of 5.2% [2] - For Q2, revenue was 1.77 billion yuan, down 2.0% year-on-year, with a net profit of 100 million yuan, a significant decline of 39.8% [2] Operational Analysis - The Malaysian subsidiary generated revenue of 286 million yuan, up 8.6% year-on-year, and net profit of 39 million yuan, up 53.2% [2] - The report notes that the decline in real estate demand has led to a drop in float glass prices, resulting in increased losses from joint ventures [2] Profit Forecast and Valuation - The report maintains profit forecasts for 2024-2026 at 510 million, 610 million, and 760 million yuan, respectively, corresponding to P/E ratios of 15, 13, and 10 [2]

证券代码：600586 证券简称：金晶科技 公告编号：临 2024—022 山东金晶科技股份有限公司 八届二十次董事会决议公告 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。 山东金晶科技股份有限公司董事会于 2024 年 8 月 7 日通过电话、邮件等方 式发出召开八届二十次董事会的通知，会议于 2024 年 8 月 17 日以现场与视频相 结合的方式在公司会议室召开，会议应出席董事 8 名，实际出席会议董事 8 名， 公司监事、高级管理人员列席本次会议，会议由公司董事长王刚先生主持，符合 《公司法》、《公司章程》的规定，经与会董事审议，一致同意通过如下事项： 一、山东金晶科技股份有限公司 2024 年半年度报告以及摘要 本议案已获得本届董事会审计委员会事前认可并同意提交八届二十次董事 会审议。 详见公告编号为临 2024-026 的临时公告《山东金晶科技股份有限公司关于 财务总监退休离任以及聘任财务总监的公告》。 特此公告 二、山东金晶科技股份有限公司关于全资孙公司申请银行授信的议案 同意 8 票，反对 0 票，弃权 0 ...

证券代码：600586 证券简称：金晶科技 公告编号：临 2024-024 山东金晶科技股份有限公司 关于全资孙公司申请银行授信的公告 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。 山东金晶科技股份有限公司（以下简称"公司"）于 2024 年 8 月 17 日召开的 八届二十次董事会审议通过了《山东金晶科技股份有限公司关于全资孙公司申请 银行授信的议案》。现将相关内容公告如下： 一、本次申请授信额度的情况 为保证公司正常生产经营需要，公司全资孙公司滕州金晶新材料有限公司、 滕州金晶玻璃有限公司拟申请银行综合授信，该银行授信主要用于原材料的采购、 补充流动资金等，授信额度不等于公司的实际融资金额，实际融资金额应以各银 行与公司实际发生的融资金额为准。本次拟申请情况如下： | 单位名称 | 银行名称 | 新增授信（万元） | | --- | --- | --- | | 滕州金晶新材料有限公司 | 威海银行滕州支行 | 6000 | | 滕州金晶玻璃有限公司 | 北京银行济南分行 | 10000 | | 滕州金晶玻璃有限公司 | ...

关于财务总监退休离任以及聘任财务总监的公告 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。 证券代码：600586 证券简称：金晶科技 公告编号：临 2024-026 山东金晶科技股份有限公司 一、财务总监退休离任情况 1、公司董事会于 2024 年 8 月 17 日收到财务总监栾尚运先生递交的退休离 任报告。栾尚运先生因达到法定退休年龄，申请退休离任辞去公司财务总监职务。 根据相关法律法规及《公司章程》的规定，栾尚运先生的退休离任报告自送达公 司董事会之日起生效。退休离任后，栾尚运先生不再担任公司任何职务。 2、截至本公告披露日，栾尚运先生持有公司股份 10800 股，其持有公司股 份将严格遵守《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》、《上海证券交易所上市公司自律监管指引第 15 号——股东及董事、监 事、高级管理人员减持股份》等法律法规中有关上市公司离任高级管理人员减持 股份的规定。 公司及公司董事会对栾尚运先生在任职期间为公司所做的工作表示由衷的 感谢！ 二、公司财务总监聘任情况 根据《公司法 ...

证券代码：600586 证券简称：金晶科技 公告编号：临 2024—023 特此公告 山东金晶科技股份有限公司 八届十次监事会决议公告 1、2024 年半年报编制和审议程序符合法律、法规、公司章程和公司内部管 理制度的各项规定； 2、2024 年半年报的内容和格式符合中国证监会和证券交易所的各项规定， 所包含的信息能够从各个方面真实地反映出公司当年度的经营管理和财务状况 等事项； 3、参与半年报编制和审议的人员有没有违反保密规定的行为。 同意 5 票，反对 0 票，弃权 0 票 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个别及连带责任。 山东金晶科技股份有限公司监事会于 2024 年 8 月 7 日以电话方式发出召开 八届十次监事会的通知，会议于 2024 年 8 月 17 日以现场会议的方式在公司会议 室召开，会议应到监事 5 名，实到监事 5 名，会议由监事会主席蒋永蕊先生主持， 符合《公司法》和《公司章程》的规定，经与会监事审议，一致形成如下决议： 审议通过了山东金晶科技股份有限公司 2024 年半年度报告以及摘要的议案， 并 ...

证券代码：600586 证券简称：金晶科技 公告编号：临 2024-025 山东金晶科技股份有限公司 为全资孙公司银行授信提供担保的公告 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： ●被担保人名称：滕州金晶玻璃有限公司、滕州金晶新材料有限公司，本公 司全资孙公司。 ●本次担保数量及累计为其担保数量：本次本公司拟为滕州金晶玻璃有限公 司 40000 万元（北京银行济南分行 10000 万元，青岛银行滕州支行 10000 万元， 汇丰银行青岛分行 20000 万元）、滕州金晶新材料有限公司威海银行滕州支行 6000 万元银行授信提供担保，本公司为滕州金晶玻璃有限公司、滕州金晶新材 料有限公司提供担保的余额分别为 40331.87 万元、17750 万元。 ●本次是否有反担保：无 ●对外担保逾期的累计数量：0 一、担保情况概述 （一）担保基本情况 近日，滕州金晶玻璃有限公司、滕州金晶新材料有限公司拟与有关金融机构 签订《综合授信合同》等文件，其中由本公司为上述融资主体综合授信提供连带 责任保证。 （二）上市公司就 ...

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 3,549,795,345.29, a decrease of 4.44% compared to CNY 3,714,634,109.20 in the same period last year[13]. - The net profit attributable to shareholders of the listed company was CNY 274,769,562.01, an increase of 5.23% from CNY 261,114,818.18 in the previous year[13]. - The net profit after deducting non-recurring gains and losses was CNY 261,509,741.23, up by 1.73% from CNY 257,070,902.86 year-on-year[13]. - The basic earnings per share for the first half of 2024 was CNY 0.1939, reflecting a growth of 6.07% compared to CNY 0.1828 in the same period last year[14]. - The net cash flow from operating activities was CNY 532,613,325.43, an increase of 3.06% from CNY 516,790,775.97 in the previous year[13]. - The total assets at the end of the reporting period were CNY 11,529,317,457.64, a slight increase of 1.06% from CNY 11,408,634,087.87 at the end of the previous year[13]. - The net assets attributable to shareholders of the listed company at the end of the reporting period were CNY 5,947,602,796.84, showing an increase of 1.83% from CNY 5,840,785,678.51 at the end of the previous year[13]. - The company's operating revenue for the reporting period was approximately CNY 3.55 billion, a decrease of 4.44% compared to the previous year[21]. - The cost of goods sold decreased by 8.15% to approximately CNY 2.84 billion, primarily due to a decline in the prices of raw materials and fuels[21]. - The company reported a significant increase in accounts receivable by 35.20% to approximately CNY 395.63 million, attributed to the growth in business scale[22]. Production and Capacity - The effective production capacity of soda ash reached approximately 36.6 million tons per year, an increase of over 4.8 million tons, representing a 15% growth year-on-year[17]. - The cumulative soda ash production in the first half of 2024 was 18.87 million tons, an increase of 19.3% year-on-year[17]. - The daily melting capacity of photovoltaic glass increased significantly from 56,500 tons in 2022 to 111,900 tons in the first half of 2024[17]. - The average utilization rate of production capacity for float glass remained high at 84.09% as of the end of June 2024[17]. - The production capacity of the soda ash business is around 1.35 million tons annually, with ongoing projects to reduce energy consumption and improve operational efficiency[21]. Market and Strategic Initiatives - The company is actively expanding its market presence in North and Northwest China and responding to the "Belt and Road" initiative for overseas expansion[19]. - The company’s brand "Jinjing" has been applied in several landmark buildings, enhancing its market recognition[19]. - The company anticipates a decline in industry daily melting capacity in the second half of 2024 due to reduced demand and traditional off-season maintenance[17]. Environmental and Compliance - The company has implemented a comprehensive environmental monitoring system, with real-time online monitoring of emissions at production lines[40]. - The company has constructed and optimized pollution control facilities, ensuring stable compliance with environmental standards[37]. - The concentration of sulfur dioxide emissions at the main facility is approximately 30 mg/m3, which is below the emission limit for key control areas as per the standards[1]. - The nitrogen oxide concentration at the main facility is 80 mg/m3, also below the regulatory limit for key control areas[1]. - The company has received all necessary environmental permits from local authorities for its operations[38]. - The company has reduced carbon emissions by 4,729 tons through various measures, including optimizing melting processes and introducing new energy-saving technologies[42]. Financial Position and Liabilities - The total amount of guarantees provided by the company, including those to subsidiaries, is CNY 1,496,610,515.01, which accounts for 25.16% of the company's net assets[50]. - The total amount of guarantees to subsidiaries during the reporting period is CNY 874,500,000.00[50]. - The company has no significant litigation or arbitration matters during the reporting period[44]. - The company has maintained a good integrity status with no significant debts overdue or unfulfilled court judgments[44]. - The total current assets as of June 30, 2024, amounted to CNY 4,446,050,826.27, an increase from CNY 4,002,119,987.79 as of December 31, 2023, reflecting a growth of approximately 11.1%[56]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 99,435[51]. - The company has a share repurchase account holding 11,432,300 shares, indicating ongoing efforts to manage shareholder value[53]. - The company has committed to maintaining a minimum market sale price of 9.36 yuan per share for its stock[43]. Accounting and Financial Reporting - The company’s financial statements comply with the latest enterprise accounting standards issued by the Ministry of Finance[82]. - The company identifies the importance of financial statement items based on their impact on users' economic decisions, considering both nature and amount[88]. - The company assesses expected credit losses for receivables based on credit risk characteristics, using historical loss experience and current economic forecasts[96]. - The company recognizes revenue when control of goods or services is transferred to customers, based on the transaction price allocated to the performance obligation[135]. Investment and Capital Expenditures - The company completed the acquisition of Shandong Jinjing Glass Co., Ltd. for an investment amount of 69,352,409 RMB, holding a 100% stake[28]. - The company acquired a 50% stake in Shandong Jinjing Saint-Gobain Glass Co., Ltd. from Saint-Gobain Glass, funded by self-raised capital, to enhance resource integration and future layout[27]. - The company has additional investments in joint ventures totaling 6,991,587.00 RMB during the period[176]. Research and Development - Research and development expenses increased to CNY 100,976,862.04, up 8.93% from CNY 92,638,152.28 in the first half of 2023[62]. - The photovoltaic glass segment is focusing on stabilizing production processes and enhancing product quality, with plans to develop new customer resources for future capacity releases[20].

Summary of Conference Call Company/Industry Involved - The conference call is related to a company referred to as "Green Component" (绿件) Core Points and Arguments - The meeting began with a statement indicating that all participants were muted and that the meeting was being recorded for accuracy in investment decision-making [1] - The host, identified as "艾尔," welcomed investors to the event, which is part of a series focused on business expertise [1] Other Important but Possibly Overlooked Content - There was a mention of a Q&A session following the main presentation, allowing investors to engage and ask questions [1]

●被担保人名称：金晶科技马来西亚有限公司，本公司全资孙公司。 ●本次担保数量及累计为其担保数量：本次本公司拟为金晶科技马来西亚有 限公司在中国银行（马来西亚）有限公司综合授信 3000 万林吉特，丰隆银行有 限公司综合授信 5500 万林吉特提供担保，截至本公告披露日，上述担保折合人 民币约 12686.57 万元（人民币对马币汇率 1:0.67）,为其提供的担保余额 19083 万元。 ●本次是否有反担保：无 证券代码：600586 证券简称：金晶科技 公告编号：临 2024-021 山东金晶科技股份有限公司 为金晶科技马来西亚有限公司提供担保的公告 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： 1、被担保人的名称：金晶科技马来西亚有限公司 2、注册地址：马来西亚吉打州居林高科园区 1 号 3、注册资本：49063 万林吉特 ●对外担保逾期的累计数量：0 一、担保情况概述 （一）担保基本情况 近期，山东金晶科技股份有限公司以及公司全资孙公司金晶科技马来西亚有 限公司拟与中国建设银行（马来西亚）有限公司签订《 ...

山东金晶科技股份有限公司于 2024 年 7 月 5 日以电话、邮件方式发出召开八 届十九次董事会的通知，会议于 2024 年 7 月 15 日以通讯表决的方式召开，会议 应到董事 8 名，实到董事 8 名，符合公司法和公司章程的规定。董事长王刚先生 主持了本次会议，经与会董事审议，一致通过了如下决议： 山东金晶科技股份有限公司为全资孙公司——金晶科技马来西亚有限公司 提供担保的议案 表决结果：8 票同意，0 票弃权，0 票反对 证券代码：600586 证券简称：金晶科技 编 号：临 2024—020 号 山东金晶科技股份有限公司 八届十九次董事会决议公告 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。 详见编号为临 2024-021 的临时公告（山东金晶科技股份有限公司为金晶科 技马来西亚有限公司提供担保的公告） 特此公告 山东金晶科技股份有限公司 董事会 2024 年 7 月 15 日 ...