| 证券代码：601208 | 证券简称：东材科技 | 公告编号：2024-103 | | --- | --- | --- | | 转债代码：113064 | 转债简称：东材转债 | | 四川东材科技集团股份有限公司关于"东材转债"付息公告 本公司及董事会全体成员保证公告内容不存在虚假记载、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。 重要内容提示： 四川东材科技集团股份有限公司(以下简称"公司"或"本公司")于 2022 年 11 月 16 日发行的可转换公司债券（以下简称"东材转债"），将于 2024 年 11 月 18 日开始支付自 2023 年 11 月 16 日至 2024 年 11 月 15 日期间的利息。根据 《四川东材科技集团股份有限公司公开发行可转换公司债券募集说明书》（以下 简称"《募集说明书》"）有关条款的规定，现将有关事项公告如下： 一、可转债发行上市概况 （一）"东材转债"发行情况 （二）"东材转债"上市情况 经上海证券交易所自律监管决定书【2022】331 号文同意，公司本次发行的 可转债付息债权登记日：2024 年 11 月 15 日（星期五） 可转 ...

Investment Rating - The report maintains a "Buy" rating for Dongcai Technology, expecting the stock price to outperform the industry index by over 15% in the next six months [14]. Core Views - The revenue growth in the first three quarters of 2024 is primarily attributed to the gradual release of production capacity from new industrial projects, including new energy materials, optical film materials, and electronic materials [2][8]. - The company's actual controller's consistent actions in increasing shareholding demonstrate confidence in the company's long-term development [7][8]. Financial Performance - For 2022A to 2026E, the projected revenue growth rates are 12.1%, 2.7%, 18.4%, 26.4%, and 19.7% respectively, with revenues expected to reach 44.25 billion, 55.91 billion, and 66.95 billion in 2024E, 2025E, and 2026E [1][8]. - The net profit attributable to the parent company is projected to grow from 3.49 billion in 2024E to 6.12 billion in 2026E, with corresponding growth rates of 6.2%, 38.0%, and 27.0% [1][8]. - The average selling prices of various materials have shown a decline, particularly in photovoltaic and epoxy resin products, impacting the company's profitability [2]. Operational Metrics - The company reported a decrease in sales expense ratio to 1.25%, management expense ratio to 1.79%, and R&D expense ratio to 4.33% in the first three quarters of 2024 [3]. - Cash flow from operating activities showed a net outflow of 0.43 billion, while cash flow from financing activities increased significantly by 6294.69% to 4.84 billion [3]. Project Developments - Dongcai Technology is constructing a new project with an annual production capacity of 20,000 tons of electronic materials for high-speed communication substrates, which is expected to enrich the product structure [6][8].

Investment Rating - The investment rating for the company is "Buy" and is maintained [4]. Core Views - The company achieved a revenue of 3.25 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 14.8%. However, the net profit attributable to shareholders decreased by 22.8% to 240 million yuan, and the net profit after deducting non-recurring gains and losses fell by 14.0% to 160 million yuan [4][5]. - In Q3 2024, the company reported a revenue of 1.12 billion yuan, a year-on-year increase of 12.7% but a quarter-on-quarter decrease of 6.5%. The net profit attributable to shareholders was 80 million yuan, down 10.7% year-on-year and down 30.0% quarter-on-quarter [4][5]. - The company is focusing on high-end resin products, which are experiencing rapid growth, while traditional sectors are under pressure. The sales volume of key segments such as electrical insulation materials, new energy materials, optical film materials, electronic materials, and environmentally friendly flame retardant materials saw significant year-on-year growth [4][5]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported a revenue of 3.25 billion yuan, with a year-on-year growth of 14.8%. The net profit attributable to shareholders was 240 million yuan, down 22.8%, and the net profit after deducting non-recurring gains and losses was 160 million yuan, down 14.0% [4][5]. - In Q3 2024, the company achieved a revenue of 1.12 billion yuan, reflecting a year-on-year increase of 12.7% but a quarter-on-quarter decrease of 6.5%. The net profit attributable to shareholders was 80 million yuan, down 10.7% year-on-year and down 30.0% quarter-on-quarter [4][5]. Product Development and Market Position - The company has a wide range of product applications, focusing on new insulation materials, optical film materials, electronic materials, and environmentally friendly flame retardant materials. These products are used in various sectors including power generation equipment, ultra-high voltage transmission, smart grids, new energy vehicles, rail transportation, consumer electronics, flat displays, electrical appliances, and 5G communications [4]. - The company is experiencing growth in high-end optical films and high-frequency, high-speed resins, while facing challenges in the photovoltaic PET and ordinary resin film businesses. The growth in revenue is attributed to the gradual release of production capacity from newly established industrial projects [4][5]. Strategic Initiatives - The company is collaborating with Chemax and Zhongyi Chemical to develop high-end photoresist materials, leveraging Chemax's established technology and sales network. The related equipment has been installed and is in trial production [4]. - The company is also expanding its electronic materials business in artificial intelligence and low-orbit satellite communication sectors, with plans to invest in a project for producing 20,000 tons of electronic materials for high-speed communication substrates [4]. Shareholder Confidence - The actual controller and associated parties have increased their shareholding, indicating confidence in the company's future development. The actual controller's associate has cumulatively increased their shareholding by 5.659 million shares, accounting for 0.63% of the total share capital [4].

Investment Rating - The report maintains an "Outperform" rating for the company [6] Core Views - The company reported Q3 2024 results showing revenue of 3.245 billion yuan, a year-on-year increase of 15%, but a net profit decline of 23% to 236 million yuan, indicating pressure on profitability due to intensified competition in specific product segments [6][7] - The company is experiencing challenges in its epoxy resin and photovoltaic backsheet film businesses, which are impacting overall performance, while high-frequency and high-speed resin products are showing growth potential [6][7] - Future profit forecasts for 2024-2026 have been adjusted downwards due to ongoing pressures in certain product lines, with expected net profits of 331 million, 451 million, and 593 million yuan respectively [6][7] Summary by Sections Market Data - Closing price: 8.72 yuan - One-year high/low: 13.09/6.12 yuan - Market capitalization: 3,299.70 million yuan [3][4] Financial Performance - Q3 2024 revenue: 3.245 billion yuan (YoY +15%) - Q3 2024 net profit: 236 million yuan (YoY -23%) - Q3 2024 gross margin: 14.51%, down 2.96 percentage points YoY [6][7] Product Segments - Electronic materials: Q3 sales of 13,800 tons, revenue of 268 million yuan, with a price increase of 10% [6] - New energy materials: Q3 sales of 12,500 tons, revenue of 305 million yuan, with a significant decline in photovoltaic backsheet film orders [6] - Optical film materials: Q3 sales of 27,700 tons, revenue of 329 million yuan, showing recovery in the market [6] Future Outlook - The company plans to invest 700 million yuan to expand production capacity for high-speed communication substrate materials, which could generate annual sales of approximately 2 billion yuan [6] - Adjusted profit forecasts reflect ongoing challenges in the epoxy and phenolic resin segments, with no immediate improvement expected in the photovoltaic backsheet film market [6][7]

东材科技（ [Table_StockNameRptType] 601208） 公司点评 Q3 业绩短期承压，电子材料稳步推进 | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

在下滑那接下来呢我们可能把先把这个时间交给陈总让陈总给大家这个啊详细的这个解读一下整个这个三季度啊公司在这个各个板块的一些经营情况然后咱们再进入到这个问答的环节那这个是先把时间交给陈总陈总好的正常好感谢香港会员感谢 三级报业绩交流会的投资者 红利下降了23% 从一到九月份就前三纪录公司整体是实现了32.45亿元的收入同比去年是增加了4.2亿元的收入将近15个点的增长来自于销量的增加这几年我们在一些新的产业化项目的投入 光复配板机膜产能的增加还有就是这个聚敏器薄膜产线的增加第二就是这个光学膜材料光学膜材料应该说这几年我们应该说一直持续的在筹建去年有这个G6线和G8线的这个投产今年有G7G9线的投产电子材料板块呢 这个应该说是我们近几年新投的产业化项目应该说在这几年这个入学投产带来的这个就是产能的足够释放带来的这个销量的这个增加但是呢 那么其中一个是这个飞机飞机是7600万那么同比去年是减少了4300多万这个主要原因是我们去年是有些这个资产处置所以这个去年的整体这个飞机到三级路的时候差不多有1.2万亿今年的7600万 减少那么从控肥的角度一到九月份总体实现了1.6亿比去年同期一到九月份减少了2600多万这个是有1 ...

在下滑那接下来呢我们可能把先把这个时间交给陈总让陈总给大家这个啊详细的这个解读一下整个这个三季度啊公司在这个各个板块的一些经营情况然后咱们再进入到这个问答的环节那这个是先把时间交给陈总陈总好的正常好感谢香港会员感谢 三级报业绩交流会的投资者 红利下降了23% 从一到九月份就前三纪录公司整体是实现了32.45亿元的收入同比去年是增加了4.2亿元的收入将近15个点的增长来自于销量的增加这几年我们在一些新的产业化项目的投入 光复配板机膜产能的增加还有就是这个聚敏器薄膜产线的增加第二就是这个光学膜材料光学膜材料应该说这几年我们应该说一直持续的在筹建去年有这个G6线和G8线的这个投产今年有G7G9线的投产电子材料板块呢 这个应该说是我们近几年新投的产业化项目应该说在这几年这个入学投产带来的这个就是产能的足够释放带来的这个销量的这个增加但是呢 那么其中一个是这个飞机飞机是7600万那么同比去年是减少了4300多万这个主要原因是我们去年是有些这个资产处置所以这个去年的整体这个飞机到三级路的时候差不多有1.2万亿今年的7600万 减少那么从控肥的角度一到九月份总体实现了1.6亿比去年同期一到九月份减少了2600多万这个是有1 ...

| 证券代码：601208 | 证券简称：东材科技 | 公告编号：2024-101 | | --- | --- | --- | | 转债代码：113064 | 转债简称：东材转债 | | 四川东材科技集团股份有限公司 关于部分募集资金专户销户的公告 序号 账户名称 开户银行 账号 备注 1 东材科技 中国工商银行股份有限公司绵阳游仙支行 2308413129100204867 已销户 2 东材科技 中国工商银行股份有限公司绵阳游仙支行 2308413129100204991 已销户 3 东材科技 上海浦东发展银行股份有限公司绵阳分行 50010078801200000424 已销户 4 山东艾蒙特 上海浦东发展银行股份有限公司绵阳分行 50010078801400000423 已销户 5 东材新材 中国工商银行股份有限公司绵阳游仙支行 2308413129100262402 正常使用 6 东材新材 上海浦东发展银行股份有限公司绵阳分行 50010078801800000560 本次注销 7 成都东材 浙商银行股份有限公司成都分行 6510000010120101001328 正常使用 8 成都东材 中国工商银 ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥1,123,201,891.69, representing a year-on-year increase of 12.67%[2] - The net profit attributable to shareholders for Q3 2024 was ¥76,375,381.27, a decrease of 10.71% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥50,789,527.66, down 23.03% year-on-year[2] - Total operating revenue for the first three quarters of 2024 reached ¥3,245,352,849.69, a 14.8% increase from ¥2,825,844,572.81 in the same period of 2023[20] - Operating profit decreased to ¥245,891,024.00, down 28.5% from ¥343,410,381.62 year-on-year[20] - Net profit for the first three quarters of 2024 was ¥222,533,350.26, a decline of 24.2% compared to ¥293,644,354.15 in 2023[21] - Basic earnings per share decreased to ¥0.26 from ¥0.33, reflecting a 21.2% drop[21] Assets and Liabilities - The total assets at the end of Q3 2024 amounted to ¥10,620,630,804.49, reflecting a 6.99% increase from the end of the previous year[3] - As of September 30, 2024, total assets reached RMB 10.62 billion, an increase from RMB 9.93 billion as of December 31, 2023, representing a growth of approximately 6.5%[18] - Current assets totaled RMB 3.84 billion, up from RMB 3.55 billion, indicating an increase of about 8.2%[18] - Total liabilities increased to RMB 5.89 billion from RMB 5.21 billion, reflecting a growth of approximately 12.9%[19] - The company's equity attributable to shareholders reached RMB 4.60 billion, slightly up from RMB 4.57 billion, showing a growth of about 0.2%[19] Cash Flow - The company reported a net cash flow from operating activities of -¥43,119,027.97 for the year-to-date, which is a 67.33% increase compared to the same period last year[6] - Cash flow from operating activities showed a net outflow of ¥43,119,027.97, an improvement from a net outflow of ¥131,982,608.46 in the previous year[23] - Cash inflow from operating activities totaled ¥2,728,815,142.71, up from ¥2,106,266,214.41 in 2023[23] - The net cash flow from investing activities was -615,768,370.33 CNY, compared to -281,904,843.36 CNY in the previous year, indicating a decline in investment performance[24] - The total cash inflow from financing activities increased to 1,887,491,304.07 CNY, up from 1,739,724,751.95 CNY year-over-year[24] - The net cash flow from financing activities improved significantly to 484,051,306.09 CNY, compared to -7,813,972.06 CNY in the same period last year[24] - The company experienced a net decrease in cash and cash equivalents of -174,905,327.30 CNY, compared to -421,201,726.99 CNY in the previous year[24] Shareholder Activities - The total number of ordinary shareholders at the end of the reporting period was 35,151[7] - The company issued 14 million convertible bonds with a total amount of RMB 140 million, which began trading on December 12, 2022, and has a conversion period starting from May 22, 2023, with a total conversion amount of RMB 86,000 by the end of the reporting period[11] - The company repurchased a total of 7,934,891 shares, accounting for 0.8848% of the total share capital, with a total payment of RMB 69,992,758.87, at a maximum price of RMB 10.46 per share and a minimum price of RMB 6.63 per share[12] - The actual controller's action party, Gaojin Fuheng Group, increased its holdings by 5,658,600 shares, accounting for 0.6310% of the total share capital, with an investment amount of RMB 50,004,234.00[14] - Another action party, Yuan Chengcheng, increased his holdings by 5,749,800 shares, accounting for 0.6412% of the total share capital, with an investment amount of RMB 47,974,745.00[15] - A total of 9 directors, supervisors, and senior management personnel planned to increase their holdings with a total investment amount between RMB 4 million and RMB 8 million, and by the end of the reporting period, they had increased their holdings by 553,300 shares, accounting for 0.0617% of the total share capital[16] Operational Challenges and Developments - The company faced challenges in the photovoltaic and epoxy resin supply chain, leading to a decline in gross margins for certain products[3] - The company’s new industrial projects in new energy materials, optical film materials, and electronic materials have contributed to a revenue increase of 14.85% year-to-date[3] - The company has ongoing investments in new technologies and market expansion strategies, although specific figures were not disclosed in the report[19] Research and Development - Research and development expenses were ¥140,418,041.55, down 8.5% from ¥153,530,234.83 in the same period last year[20] Other Income and Expenses - Total operating costs increased to ¥3,102,564,310.20, a rise of 18.1% from ¥2,625,945,747.30[20] - Other income rose to ¥83,539,444.73, compared to ¥60,619,971.17 in the previous year, marking a 37.6% increase[20] - Investment income increased to ¥21,394,642.19, up from ¥17,999,563.30, reflecting an 18.5% growth[20]

| | | 四川东材科技集团股份有限公司 2024 年前三季度主要经营数据公告 本公司及董事会全体成员保证公告内容不存在虚假记载、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。 根据上海证券交易所《上市公司自律监管指引第 3 号——行业信息披露》之 《第十三号——化工》的相关规定，四川东材科技集团股份有限公司（以下简称 "公司"或"本公司"）现将 2024 年前三季度的主要经营数据，披露如下： 二、主要产品的价格变动情况（不含税） | 主要产品 | 单位 | 2024 年 | 1-9 月 | 2023 年 | 1-9 月 | 变动比例（%） | | --- | --- | --- | --- | --- | --- | --- | | | | 平均售价 | | | 平均售价 | | | 电工绝缘材料 | 元/吨 | | 9,525.03 | | 11,677.43 | -18.43 | | 新能源材料 | 元/吨 | | 19,959.66 | | 23,309.04 | -14.37 | | 光学膜材料 | 元/吨 | | 11,712.85 | | 11,029.35 | 6. ...