各位尊敬的投资者下午好雪天盐业2023年度即2024第一季度业绩说明会正式开始我是雪天盐业董事会秘书陈卫大家好我是雪天盐业总经理刘少华大家好我是雪天盐业财务总监周群辉欢迎参加雪天盐业 2023年度暨2024年第一季度业绩说明会我仅代表公司董事会及全体员工向大家表示热烈的欢迎同时向长期以来支持与关心公司发展的广大投资者及社会各界的朋友们表示衷心的感谢2023年雪田盐业积极应对复杂严峻的外部经营环境以建设一流企业为目标 聚焦主责主业抢抓发展机遇加强内部管理发展态势稳健向上未来公司将继续坚定不移走市场化改革道路践行引领行业发展丰富健康人民美好生活的使命愿景实施聚焦资源以盐为轴一体三益两轮驱动的发展战略围绕盐打造盐矿开采和盐畜利用 食盐和工业盐加工 涉盐食品制造 纯碱烧碱及衍生品制造产业链成为链主企业 建设国内一流的盐业集团并走向国际市场 推进品牌全球化公司总事会和管理层将一如既往的勤勉尽责以更好的业绩回报全体股东和广大投资者的信任本次说明会分为两部分 第一部分是对公司2023年度和2024年度第一季度业绩进行解读第二部分是投资者网络文字互动环节下面进入雪针盐业2023年年报和2024年一季报业绩解读环节业绩解读从公 ...

Group 1: Company Strategy and Growth - The company aims to enhance its leading position in the salt sector by focusing on product quality, precise channels, and expanding market share, optimizing product structure and pricing to improve profitability [3] - The chemical salt segment will further enhance standardized benefits, particularly through the implementation of the Hengqing project [3] - The company is accelerating the development of the new energy and energy storage sectors, with ongoing projects in battery-grade soda ash, comprehensive utilization of salt caverns, and new energy battery cathode materials [3] Group 2: Pricing and Market Conditions - The company has autonomy in determining the production, wholesale, and retail prices of salt based on production costs, product quality, and market supply and demand, following the salt industry reform plan [3] - In response to rising prices of water, electricity, and gas, the company reassures investors about the pricing strategy for essential salt products [3] Group 3: Financial Performance and Dividends - The proposed cash dividend distribution for the 2023 fiscal year is 46.82% of net profit, with a dividend yield of approximately 3%, which exceeds bank wealth management levels [4] - The company emphasizes that its profit distribution plan aligns with legal regulations and considers the interests of investors, particularly small and medium-sized investors [4] - The cash dividend ratio and yield are reported to be at a relatively high level compared to peers in the industry [4]

证券代码：600929 证券简称：雪天盐业 雪天盐业集团股份有限公司 2023 年度暨 2024 年一季度业绩说明会投资者关系活动记 录表 编号：2024002 □ 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 □ 新闻发布会 □路演活动 类别 □ 现场参观 □电话通讯 □ 其他 （请文字说明其他活动内容） 活动名称 2023年度暨2024年一季度业绩说明会 时间 2024年5月16日15:00-16:30 上海证券交易所上证路演中心 地点 （网址：http://roadshow.sseinfo.com/） ...

雪天盐业集团股份有限公司（以下简称公司）第四届董事会及第 四届监事会的任期将于 2024 年 5 月 16 日届满。鉴于新一届公司董事 会、监事会的换届工作尚在筹备中，为保证相关工作的连续性和稳定 性，公司董事会、监事会的换届选举将延期进行，公司董事会各专门 委员会委员、高级管理人员及董事会聘任的其他人员的任期亦将相应 顺延。 在公司新一届董事会及监事会换届选举工作完成之前，公司第四 届董事会、第四届监事会全体成员、董事会各专门委员会委员、高级 管理人员及董事会聘任的其他人员将依据法律法规和《公司章程》的 有关规定继续履行相应职责。 公司董事会、监事会延期换届不会影响公司的正常运营。公司将 积极推进董事会、监事会的换届工作进程，并及时履行相应的信息披 露义务。 证券代码：600929 证券简称：雪天盐业 公告编号：2024-033 雪天盐业集团股份有限公司 关于董事会及监事会延期换届的提示性公告 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 担法律责任。 特此公告 雪天盐业集团股份有限公司董事会 2024 年 5 月 15 日 ...

涨跌幅比较 黄静 分析师 执业证书编号:S0530524020001 huangjing48@hnchasing.com 相关报告 2023 年平稳收官，2024 年开年业绩有所承压。2023年，公司实现营 业收入 62.62 亿元，同比下降 2.77%；实现归母净利润 7.09 亿元，同 比下降 7.86%；实现扣非归母净利润 6.51 亿元，同比下滑 17.87%。其 中 Q4 实现营业收入 18.40 亿元，同比增长 5.26%；实现归母净利润 2.08 亿元，同比增长 36.54%；实现扣非归母净利润 1.77 亿元，同比 增长 12.33%。2024Q1，公司实现营业收入15.56亿元，同比增长3.62 %； 实现归母净利润1.87亿元，同比下降9.57%；实现扣非归母净利润1.39 亿元，同比下滑 24.85%。 产品价格下降幅度大于成本下降，盈利能力下行。2023年，综合毛利 率和净利率分别为 31.13%和 11.65%，分别同比下滑 3.02 和 1.36pct。 主 要 产 品 各 类 盐 、 纯 碱 、 氯 化 铵 、 烧 碱 的 毛利率分别为 32.21%/41.93%/24.64%/ ...

雪天盐业集团股份有限公司 关于召开 2023 年度暨 2024 年第一季度 证券代码：600929 证券简称：雪天盐业 公告编号：2024-032 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 5 月 16 日(星期四) 下午 15:00-16:30 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 5 月 9 日(星期四) 至 5 月 15 日(星期 三)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通 过 雪 天 盐 业 集 团 股 份 有 限 公 司 （ 以 下 简 称 公 司 ） 邮 箱 officer@snowskysalt.com.cn 进行提问。公司将在业绩说明会上对 投资者普遍关注的问题进行回答。 公司已于 2024 年 4 月 9 日发布了 2023 年年度报告，并于 2024 年 4 月 27 日发布了 2 ...

Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,555,591,026.08, representing a year-on-year increase of 3.62%[18] - The net profit attributable to shareholders of the listed company was CNY 186,547,790.30, showing a decrease of 9.57% compared to the same period last year[18] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 138,747,304.96, reflecting a decline of 24.85%[18] - The basic earnings per share were CNY 0.1124, down by 19.66% compared to the previous year[18] - The diluted earnings per share were also CNY 0.1124, indicating a decrease of 19.66%[18] - Total operating revenue for Q1 2024 reached ¥1,555,591,026.08, an increase of 3.8% compared to ¥1,501,219,423.02 in Q1 2023[40] - Net profit attributable to shareholders of the parent company for Q1 2024 was ¥186,547,790.30, a decrease of 9.6% from ¥206,281,258.53 in Q1 2023[44] - Total comprehensive income for the first quarter of 2024 was approximately ¥189.76 million, compared to ¥213.13 million in the same period of 2023, representing a decrease of about 11.0%[45] - Basic and diluted earnings per share for the first quarter of 2024 were both ¥0.1124, down from ¥0.1399 in the first quarter of 2023, indicating a decline of approximately 19.4%[45] Cash Flow - The net cash flow from operating activities was CNY 100,199,305.49, which decreased by 1.96% year-on-year[18] - The net cash flow from operating activities for the first quarter of 2024 was ¥100.20 million, slightly down from ¥102.21 million in the first quarter of 2023, a decrease of about 2.0%[52] - Cash inflow from operating activities totaled ¥1.37 billion in the first quarter of 2024, an increase of about 15.5% from ¥1.18 billion in the same period of 2023[48] - Cash outflow from operating activities was ¥1.27 billion in the first quarter of 2024, compared to ¥1.08 billion in the first quarter of 2023, reflecting an increase of approximately 17.3%[52] - Cash inflow from investment activities was ¥24.23 million in the first quarter of 2024, significantly higher than ¥5.30 million in the same period of 2023[52] - Cash outflow from investment activities was ¥125.88 million in the first quarter of 2024, compared to ¥204.43 million in the first quarter of 2023, indicating a decrease of approximately 38.4%[52] - Net cash flow from investment activities was negative at ¥101.65 million in the first quarter of 2024, an improvement from negative ¥204.42 million in the same period of 2023[52] - Cash inflow from financing activities totaled ¥55.52 million in the first quarter of 2024, compared to ¥137.95 million in the first quarter of 2023[52] - Cash outflow for debt repayment was ¥133.20 million in the first quarter of 2024, significantly higher than ¥39.00 million in the same period of 2023, reflecting an increase of approximately 241.0%[52] Assets and Liabilities - Total assets at the end of the reporting period reached ¥11,475,779,105.67, an increase of 2.36% compared to the previous year[21] - Total assets increased to ¥11,475,779,105.67 in Q1 2024, compared to ¥11,210,705,158.46 in Q1 2023, reflecting a growth of 2.4%[38] - Total liabilities amounted to ¥3,092,344,320.82 in Q1 2024, up from ¥3,036,305,530.10 in Q1 2023, indicating a rise of 1.8%[38] - Equity attributable to shareholders of the listed company was ¥7,848,023,042.30, reflecting a growth of 2.52% year-over-year[21] - The company's total equity increased to ¥8,383,434,784.85 in Q1 2024, compared to ¥8,174,399,628.36 in Q1 2023, reflecting a growth of 2.6%[38] Shareholder Information - The total number of common shareholders at the end of the reporting period was 47,527[24] - The largest shareholder, Hunan Light Industry Salt Industry Group Co., Ltd., holds 27.90% of the shares[24] Operational Highlights - The company is focused on expanding its market presence and developing new products and technologies[21] - Research and development expenses for Q1 2024 were ¥32,002,610.68, down from ¥36,580,551.68 in Q1 2023, a decrease of 12.8%[40] - The company reported a financial asset impairment loss of ¥3,399,347.62 in Q1 2024, compared to ¥1,802,410.03 in Q1 2023, indicating a significant increase in losses[44] - The company reported a non-recurring loss from the disposal of non-current assets amounting to ¥-122,361.84[21] - Accounts receivable increased to ¥230,669,087.95 from ¥71,591,979.23, indicating a significant rise[29] - Prepayments rose to ¥139,069,348.02, compared to ¥60,183,411.19 in the previous year[29] - The company’s inventory increased to ¥453,789,781.52 in Q1 2024, compared to ¥429,627,988.11 in Q1 2023, representing a growth of 5.6%[38] Cash and Cash Equivalents - The total cash and cash equivalents at the end of the period were CNY 2,265,597,466.01, down from CNY 2,359,801,212.11 at the beginning of the period[1] - Cash and cash equivalents amounted to ¥2,265,597,466.01, down from ¥2,359,801,212.11 in the previous year[29] - Cash and cash equivalents increased to ¥4,305,304,680.51 in Q1 2024, compared to ¥4,059,753,739.11 in Q1 2023, marking a growth of 6.1%[38]

证券代码：600929 证券简称：雪天盐业 公告编号：2024-030 雪天盐业集团股份有限公司 2024 年第一季度主要经营数据公告 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。 根据上海证券交易所《上海证券交易所上市公司自律监管指引第 3 号行业信息披露：第十四号——食品制造》的要求，雪天盐业集团 股份有限公司（以下简称公司）现将 2024 年第一季度主要经营数据 （未经审计）披露如下： 一、公司 2024 年第一季度主要经营情况 1、按产品类别分类情况： | 产品名称 | 本期营业收入（单位：万元） | | --- | --- | | 各类盐 | 59,672.17 | | 芒硝 | 2,425.52 | | 烧碱类 | 13,552.26 | | 双氧水 | 2,526.30 | | 纯碱 | 35,235.48 | | 氯化铵 | 30,255.55 | | 其他 | 11,891.83 | | | | 注：合计数与单项加总的尾差系四舍五入所致。 2、按销售渠道分类情况： | 销售渠道 | 本期营业收入（单位：万 ...

申万宏源证券承销保荐有限责任公司 关于雪天盐业集团股份有限公司 2023年持续督导年度报告书 | 保荐机构 | 申万宏源证券承销保荐 | 上市公司简称 | 雪天盐业 | | --- | --- | --- | --- | | | 有限责任公司 | | | | 保荐代表人 | 何搏、罗泽 | 上市公司代码 | 600929 | | 报告年度 | 2023年度 | 报告日期 | 2024年4月12日 | | | 建立健全并有效执行持续督导工作制 | 保荐机构已建立健全并有效执行了 | | --- | --- | --- | | | 度，并针对具体的持续督导工作制定 | 持续督导制度，并制定了相应的工 | | 序号 1 | 工作内容 相应的工作计划 | 完成或督导情况 作计划 | | | 根据中国证监会相关规定，在持续督 | 保荐机构已与雪天盐业签订《保荐 协议》，该协议明确了双方在持续 | | --- | --- | --- | | | 导工作开始前，与上市公司或相关当 | | | 2 | 事人签署持续督导协议，明确双方在 | | | | 持续督导期间的权利义务，并报上海 | 督导期间的权利和义务，并报上海 | ...

Investment Rating - The report maintains a "Hold" rating for Xue Tian Salt Industry (600929) with a current price of 6.07 CNY and a target price not specified for the next six months [3][22]. Core Views - The company reported a revenue of 6.262 billion CNY in 2023, a decrease of 2.77% year-on-year, and a net profit attributable to shareholders of 709 million CNY, down 7.86% year-on-year. Despite this, the company is optimizing its product structure and has seen a 31% increase in sales volume of 171,500 tons in its domestic market [3][20]. - The company is expanding its production capacity, which is expected to drive future growth. Several projects have been completed, including energy-saving upgrades and new production facilities, which are anticipated to significantly reduce production costs [3][20]. - The company has a strong commitment to shareholder returns, with a cash dividend of 2.00 CNY per 10 shares, totaling approximately 332 million CNY, which represents 46.82% of the net profit for the year [3][20]. Summary by Sections Financial Performance - In 2023, the company achieved a revenue of 62.62 billion CNY, with a year-on-year decline of 2.77%. The net profit attributable to shareholders was 7.09 billion CNY, down 7.86% [3][4]. - The company’s product sales showed a positive trend, with high-end salt sales increasing by 33.8% year-on-year [3][20]. Production Capacity Expansion - The company has completed several key projects, including energy-saving upgrades and new production facilities, which are expected to enhance production efficiency and reduce costs significantly [3][20]. - The new production capacity is projected to contribute to revenue growth in the coming years [3][20]. Dividend Policy - The company has maintained a high dividend payout ratio, with a cash dividend of 2.00 CNY per 10 shares, reflecting a strong cash flow performance [3][20]. - The historical dividend payout ratios from 2020 to 2023 have been consistently high, averaging over 50% [3][20]. Earnings Forecast - The earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 0.52 CNY, 0.54 CNY, and 0.55 CNY, respectively, with corresponding dynamic price-to-earnings (PE) ratios of 12, 11, and 11 [3][20].