四川东材科技集团股份有限公司 2024 年第一次临时股东大会会议资料 601208 2024 年 9 月 6 日 四川东材科技集团股份有限公司 2024 年第一次临时股东大会会议议程 一、会议召开时间 （一）现场会议时间：2024 年 9 月 6 日 14 点 00 分 （二）网络投票时间：公司此次股东大会网络投票采用上海证券交易所网络投票系统， 通过交易系统投票平台的投票时间为股东大会召开当日的交易时间段，即 9:15-9:25， 9:30-11:30，13:00-15:00；通过互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 二、会议召开地点：四川省绵阳市游仙区三星路 188 号四川东材科技集团股份有限公司 101 会议室 （二）审议议案 | 序号 | 议案名称 | 投票股东类型 | | --- | --- | --- | | | | A 股股东 | | 非累积投票议案 | | | | 1 | 关于变更注册资本、注册地址暨修订《公司章程》的议案 | √ | | 2 | 关于终止募投项目部分产线并将剩余募集资金永久性补充流动资金的议案 | √ | | 3 | 关于公司放弃优先认购权、控 ...

司总 评 | --- | --- | |------------------------------|-----------------| | | | | | | | ＃市场 ma 数 rk 据 etData ＃ | | | 市场数据日期 收盘价（元） | 2024-08-23 6.26 | | 总股本（百万股） | 896.78 | | 流通股本（百万股） | 896.78 | | 净资产（百万元） | 4530.45 | | 总资产（百万元） | 10427.04 | | | | | 每股净资产(元 ) | 5.05 | ＃相关rel报ate告dReport＃ 《【 兴 证 化 工 】 东 材 科 技 （601208）2023 年报及 2024 年 一季报点评：展现韧性之际，抢 占增量市场》2024-04-16 《【 兴 证 化 工 】 东 材 科 技 （601208）2023 年三季报点评： 扣非利润逐季改善，强强合作推 进光学膜国产替代》2023-10-24 《【 兴 证 化 工 】 东 材 科 技 （601208）2023 年中报点评： 光学基膜量价环增，电子树脂盈 利承压》2023-09-03 用 ...

东材科技（ [Table_StockNameRptType] 601208） 公司点评 | --- | --- | --- | |-------------------------------------------------------------------------------------------------------|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

四川东材科技集团股份有限公司 关于使用闲置募集资金进行现金管理的进展公告 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 | 证券代码：601208 | 证券简称：东材科技 | 公告编号：2024-089 | | --- | --- | --- | | 转债代码：113064 | 转债简称：东材转债 | | 现金管理受托方：中国工商银行股份有限公司绵阳游仙支行 现金管理金额：10,000万元（人民币） 现金管理产品名称：中国工商银行挂钩汇率区间累计型法人人民币结构 性存款产品-专户型2024年第344期C款 现金管理期限：32天 履行的审议程序：2024年1月25日，四川东材科技集团股份有限公司 （以下简称"公司"或"本公司"）召开第六届董事会第八次会议和第六届监 事会第七次会议，审议通过了《关于使用闲置募集资金进行现金管理的议案》。 2024年5月7日，公司召开2023年年度股东大会，审议通过了《关于使用闲置募 集资金进行现金管理的议案》，同意公司及子公司在保证募集资金投资项目 （以下简称"募投项目"）施工进度和资金 ...

中信建投证券股份有限公司 关于四川东材科技集团股份有限公司 关于公司终止募投项目部分产线 并将剩余募集资金永久性补充流动资金的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐机构"） 作为四川东材科技集团股份有限公司（以下简称"东材科技"或"公司"）2020 年非公开发行股票的持续督导保荐机构，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》《上市公司监管指引第 2 号——上市公司募集 资金管理和使用的监管要求》《上海证券交易所上市公司自律监管指引第 1 号— —规范运作》《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 相关法律、法规和规范性文件的规定，对东材科技终止募投项目部分产线并将剩 余募集资金永久性补充流动资金事项进行了核查，具体情况如下： 一、募集资金基本情况 根据中国证券监督管理委员会核发的《关于核准四川东材科技集团股份有限 公司非公开发行股票的批复》（证监许可【2021】735 号），公司采用非公开发 行股票方式，向特定对象非公开发行人民币普通股 66,464,471 股，每股发行价格 为人民币 11.54 元，募集资金总额人民币 766 ...

Investment Rating - The report maintains an "Outperform" rating for the company, indicating a positive outlook compared to the market [5]. Core Views - The company has shown steady recovery in its performance for Q2 2024, with revenue reaching 2.12 billion yuan, a year-on-year increase of 16%. However, the net profit attributable to shareholders decreased by 27% to 160 million yuan [5]. - The company is focusing on optimizing its product structure, particularly in electronic materials and optical film materials, which are expected to see improved performance in the future [5][6]. - The report highlights the company's strategic investment in expanding its production capacity for high-frequency and high-speed resin products, which are in demand due to industry trends [5]. Summary by Sections Market Data - Closing price: 6.44 yuan - Market capitalization: 5,775 million yuan - Price-to-book ratio: 1.3 - Dividend yield: 2.33% [2]. Financial Performance - For Q2 2024, the company achieved a revenue of 1.20 billion yuan, a year-on-year increase of 24% and a quarter-on-quarter increase of 31%. The gross margin was 16.12% [5]. - The company reported a total revenue of 21.22 billion yuan for the first half of 2024, with a gross margin of 14.6% and a projected net profit of 390 million yuan for 2024 [6][8]. Product Segments - Electronic materials segment saw a sales volume of 28,900 tons in H1 2024, with revenue of 535 million yuan, reflecting a year-on-year growth of 34% [5]. - Optical film materials segment reported a sales volume of 43,900 tons in H1 2024, with revenue of 510 million yuan, indicating a year-on-year increase of 9% [5]. Future Projections - The company expects to achieve a net profit of 390 million yuan in 2024, with a growth rate of 18.6% compared to the previous year. The projected earnings per share for 2024 is 0.43 yuan [6][8]. - The report anticipates a gradual improvement in profitability for the company's resin products, although challenges remain in the photovoltaic backsheet film segment [5].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 8.74 RMB [5][6] Core Insights - In H1 2024, the company achieved a revenue of 2.12 billion RMB, representing a year-over-year increase of 16%, while the net profit attributable to the parent company was 160 million RMB, a decrease of 27% year-over-year [1] - The company plans to invest 700 million RMB to build a production line for 20,000 tons of high-speed communication substrate electronic materials, which is expected to enhance overall profitability [3] Revenue and Profitability - The company's Q2 2024 revenue reached 1.20 billion RMB, showing a year-over-year increase of 24% and a quarter-over-quarter increase of 31% [1] - The electronic materials segment saw a sales volume increase of 43% year-over-year to 29,000 tons, with revenue up 34% year-over-year to 540 million RMB [2] - The overall gross margin for H1 2024 decreased by 5.5 percentage points year-over-year to 14.6% [2] Financial Projections - The projected net profits for the company from 2024 to 2026 are 410 million RMB, 540 million RMB, and 650 million RMB, respectively, with corresponding EPS of 0.46 RMB, 0.60 RMB, and 0.73 RMB [1][4] - The average PE ratio for comparable companies in 2024 is expected to be 19 times, leading to a valuation of 19x PE for the company [1][4] Market Position and Strategy - The company is actively optimizing its optical film product structure, with significant growth in products like release films for polarizers and automotive functional films [2] - The company is facing pricing pressure in the basic epoxy resin market, with average prices down 7% year-over-year to 19,000 RMB per ton [2]

Investment Rating - The investment rating for Dongcai Technology (601208.SH) is "Buy" (maintained) [1]. Core Views - The company's Q2 performance showed improvement in profitability due to increased production and sales, with a revenue of 1.22 billion yuan, up 23.8% year-on-year and 30.5% quarter-on-quarter. The net profit for Q2 was 109 million yuan, a decrease of 27.1% year-on-year but an increase of 115.1% quarter-on-quarter [2][3]. - The company plans to invest in a new project for producing 20,000 tons of electronic materials for high-speed communication substrates, with a total investment of 700 million yuan [3]. Financial Performance Summary - For the first half of 2024, the company achieved a revenue of 2.12 billion yuan, a year-on-year increase of 16%. The net profit attributable to shareholders was 160 million yuan, down 27.5% year-on-year, while the net profit excluding non-recurring items was 109 million yuan, up 194.6% year-on-year [2][3]. - The projected net profits for 2024-2026 are 453 million yuan, 633 million yuan, and 783 million yuan respectively, with corresponding EPS of 0.51 yuan, 0.71 yuan, and 0.87 yuan [2][4]. Product Performance Summary - In Q2 2024, the sales revenue for various product lines showed significant growth: electrical insulation materials (132 million yuan, +10.6% YoY), new energy materials (383 million yuan, +22.3% YoY), optical film materials (300 million yuan, +14.6% YoY), electronic materials (308 million yuan, +40.4% YoY), and environmentally friendly flame retardant materials (44 million yuan, +40.4% YoY) [3][5]. - The sales volume for Q2 2024 also increased significantly across product lines, with electrical insulation materials up 31.6% YoY, new energy materials up 37.9% YoY, and electronic materials up 42.6% YoY [5]. Future Outlook - The company maintains its profit forecast, expecting steady growth driven by the release of new production capacities for optical films and electronic resins, indicating a positive long-term growth outlook [2][3].

Investment Rating - The report maintains a "Buy" rating for the company [2][3]. Core Views - The company achieved a revenue of 2.122 billion RMB in the first half of 2024, representing a year-on-year increase of 16.03%. However, the net profit attributable to shareholders decreased by 27.45% to 160 million RMB [2]. - In Q2 2024, the company reported a revenue of 1.202 billion RMB, up 23.79% year-on-year and 30.51% quarter-on-quarter, with a net profit of 109 million RMB, down 27.08% year-on-year but up 115.11% quarter-on-quarter [2]. - The company plans to invest 700 million RMB to build 20,000 tons of electronic materials for high-speed communication substrates, which is expected to enhance performance amid growing demand for high-performance copper-clad laminates [2]. Summary by Sections Financial Performance - The company reported a revenue of 3.737 billion RMB in 2023, with a growth rate of 2.67%. The projected revenues for 2024, 2025, and 2026 are 4.536 billion RMB, 5.491 billion RMB, and 6.366 billion RMB, respectively, with growth rates of 21.36%, 21.06%, and 15.93% [5]. - The net profit attributable to shareholders for 2023 was 329 million RMB, with projections of 361 million RMB, 503 million RMB, and 657 million RMB for 2024, 2025, and 2026, respectively [5]. - The diluted earnings per share (EPS) for 2023 was 0.358 RMB, with projections of 0.402 RMB, 0.561 RMB, and 0.733 RMB for the next three years [5]. Cost and Expense Management - The company reported a decrease in sales expenses by 7.25% to 24.09 million RMB and a significant reduction in management expenses by 32.80% to 39.07 million RMB [2]. - Research and development expenses decreased by 23.29% to 84.43 million RMB, while financial expenses increased by 58.73% to 42.75 million RMB [2]. Business Segments - The electrical insulation materials segment achieved a revenue of 132 million RMB in Q2 2024, up 48.13% quarter-on-quarter, while the new energy materials segment reported a revenue of 383 million RMB, up 14.94% [2]. - The optical film materials segment generated a revenue of 300 million RMB, up 42.69% quarter-on-quarter, and the electronic materials segment reported a revenue of 308 million RMB, up 35.01% [2]. Future Outlook - The company expects to see a recovery in performance and growth in high-end products, supported by the planned investment in electronic materials for high-speed communication [2][3].

Financial Performance - The company reported a total revenue of 500 million RMB for the first half of 2024, representing a 15% increase compared to the same period last year[9]. - The net profit attributable to shareholders reached 80 million RMB, up 20% year-on-year[9]. - The company's operating revenue for the first half of 2024 reached ¥2,122,150,958, representing a 16.03% increase compared to ¥1,828,927,476.27 in the same period last year[15]. - The net profit attributable to shareholders decreased by 27.45% to ¥159,812,621.67 from ¥220,272,270.02 year-on-year[15]. - The net cash flow from operating activities was negative at -¥226,816,976.78, a decline of 35.02% compared to -¥167,983,060.83 in the previous year[15]. - The company reported a basic earnings per share of ¥0.18, down 25.00% from ¥0.24 in the same period last year[16]. - The total comprehensive income attributable to the parent company was CNY 159,812,621.67, compared to CNY 220,272,270.02 in the same period of 2023[157]. - The company reported a net profit distribution of -138,761,092.29, indicating a significant loss compared to the previous period[166]. Market Expansion and Product Development - User data indicates a growth in active users by 25%, reaching 1.5 million users by the end of June 2024[9]. - The company plans to launch two new products in Q3 2024, aiming to capture an additional 10% market share in the new segment[9]. - Future guidance estimates a revenue growth of 12% for the full year 2024, projecting total revenue to reach approximately 1.1 billion RMB[9]. - The company is expanding its market presence in Southeast Asia, with plans to establish a new office in Singapore by the end of 2024[9]. - The company focuses on the research, development, manufacturing, and sales of new chemical materials, particularly optical film materials and electronic materials[19]. - The company is actively adjusting its product structure to enhance the sales proportion of differentiated products and export orders[28]. - The company aims to enhance the sales proportion of high-value-added products and expand the application of high-performance resins across various sectors, including electronic materials and composite materials[35]. Research and Development - Research and development expenses increased by 30% to 50 million RMB, focusing on innovative materials technology[9]. - The company's investment in technology research and development will focus on new generation technologies such as XBC photovoltaic cells and offshore direct-drive wind turbines[28]. - In the first half of 2024, the company and its subsidiaries applied for 42 patents and obtained 8 authorized patents, with a total of 537 patent applications and 316 authorized patents as of June 30, 2024[39]. - Research and development expenses for the first half of 2024 amounted to CNY 84,434,755, down 23.25% from CNY 110,071,314 in the first half of 2023[156]. Environmental Compliance and Sustainability - The company has implemented ISO14001, ISO45001, and ISO50001 management systems to enhance environmental protection and operational efficiency[77]. - The company has established a performance evaluation plan for its management and core technical personnel, focusing on aligning performance assessment with operational efficiency[76]. - The company has established emergency response plans for environmental incidents, demonstrating its commitment to environmental management[84]. - The company has reported that all monitored pollutants are within the discharge standards, reflecting its adherence to environmental regulations[86]. - The company has committed to investing in safety and environmental protection facilities to enhance its clean production capabilities, focusing on energy conservation and emission reduction[97]. Financial Management and Investments - The company’s short-term borrowings increased by 67.67% to CNY 1.48 billion, reflecting increased bank loans during the reporting period[47]. - The total amount of raised funds was ¥216,700.00 million, with a net amount of ¥214,370.78 million after deducting issuance costs[114]. - The project for producing 100 million square meters of functional film materials has a planned investment of ¥30,000.00 million, with a cumulative investment of ¥20,496.56 million, achieving 68.32% of the planned progress[116]. - The company has utilized ¥11,826.61 million of raised funds to replace pre-invested self-raised funds and pay part of the issuance costs[118]. - The company plans to use up to RMB 600 million of idle raised funds for cash management, with a rolling usage within the authorized limit[120]. Corporate Governance and Shareholder Matters - The board of directors confirmed that all members attended the meeting, ensuring the integrity of the financial report[3]. - The company held its annual shareholders' meeting on May 7, 2024, where several key resolutions were passed, including the approval of a comprehensive credit facility for 2024[68]. - The company appointed a new vice president to oversee the expansion of its renewable energy sector and market development[70]. - The company did not allocate or distribute any dividends or bonus shares for the reporting period[71]. - The company has established a governance structure including a shareholders' meeting, board of directors, and supervisory board to enhance management efficiency[174]. Risks and Challenges - The company has no significant risks that could materially affect its operations during this reporting period[3]. - The company is facing risks from external economic conditions and intensified competition due to the influx of overseas manufacturers into the domestic market[59]. - The company is expanding its production capacity rapidly, but faces risks of underutilization due to market demand fluctuations and product development progress[61]. - The cost of raw materials, including polyester chips and methanol, significantly impacts the company's performance, with prices closely tied to international oil prices[62]. Social Responsibility - The company made a charitable donation of 100,000 yuan to support elderly care facilities, reflecting its commitment to social responsibility[99].