证券代码：603055 证券简称：台华新材 公告编号：2025-041 浙江台华新材料集团股份有限公司 2024年年度股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2025 年 5 月 6 日 (二)股东大会召开的地点：浙江省嘉兴市秀洲区王店镇梅北路 113 号浙江嘉 华特种尼龙有限公司会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 135 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 598,094,786 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 67.1795 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会提议召开。公司董事长施清岛先生主持并完成了全部 议程。会议召集及召开程序符合《公司法》和《 ...

中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 电话：（86-10）5809-1000 传真：（86-10）5809-1100 北京市竞天公诚律师事务所 关于浙江台华新材料集团股份有限公司 2024年年度股东大会的法律意见书 致：浙江台华新材料集团股份有限公司 北京市竞天公诚律师事务所（以下简称"本所"）接受浙江台华新材料集团 股份有限公司（以下简称"公司"）的委托，指派本所律师列席公司于 2025 年 5 月 6 日 14 点 30 分在浙江省嘉兴市秀洲区王店镇梅北路 113 号浙江嘉华特种尼 龙有限公司会议室召开的 2024 年年度股东大会（以下称"本次股东大会"）， 并依据《中华人民共和国公司法》等中国法律、法规和相关规范性文件（以下称 "中国法律法规"）及《浙江台华新材料集团股份有限公司章程》（以下称"《公 司章程》"）的规定，就本次股东大会的召集和召开程序、出席会议人员资格、 召集人资格、会议表决程序和表决结果等事宜（以下称"程序事宜"）出具本法 律意见书。 为出具本法律意见书，本所律师审查了公司提供的有关本次股东大会的文 件，包括但不限于第五届董事会第十六 ...

Investment Rating - The report assigns a rating of "Accumulate" for the company [1]. Core Views - The company is expected to see significant growth in nylon filament sales, with a strong performance in fabric and cloth sales. The first quarter of 2025 shows a slight increase in nylon volume, supported by government subsidies that enhance profits. The renewable project is anticipated to ramp up in 2025, gradually contributing to performance growth [2][11]. Financial Summary - **Revenue**: - 2023A: 5,094 million - 2024A: 7,120 million (up 39.8%) - 2025E: 8,583 million (up 20.5%) - 2026E: 9,814 million (up 14.3%) - 2027E: 10,721 million (up 9.2%) [4] - **Net Profit (attributable to parent)**: - 2023A: 449 million - 2024A: 726 million (up 61.6%) - 2025E: 899 million (up 23.8%) - 2026E: 1,064 million (up 18.4%) - 2027E: 1,207 million (up 13.5%) [4] - **Earnings Per Share (EPS)**: - 2023A: 0.50 - 2024A: 0.82 - 2025E: 1.01 - 2026E: 1.19 - 2027E: 1.36 [4] - **Return on Equity (ROE)**: - 2023A: 10.1% - 2024A: 14.5% - 2025E: 15.7% - 2026E: 16.2% - 2027E: 16.0% [4] Market Data - **52-week stock price range**: 9.09 - 13.10 [6] - **Total market capitalization**: 8,476 million [6] - **Total shares outstanding**: 890 million [6] Investment Recommendation - The report forecasts that the company will achieve an EPS of 1.01, 1.19, and 1.36 for the years 2025 to 2027, respectively. Given that the company is a leader in the nylon industry, a target price of 14.14 is set based on an industry average PE of 14 for 2025, maintaining the "Accumulate" rating [11].

Core Viewpoint - The company is expected to see significant growth in nylon filament sales in 2024, with a positive outlook for fabric and cloth sales, while facing challenges in Q1 2025 due to reduced volume and increased government subsidies enhancing profits [1][2]. Financial Performance - In 2024, the company reported revenue of 7.12 billion yuan, a year-on-year increase of 39.78%, and a net profit attributable to shareholders of 726 million yuan, up 61.59% [2]. - Q4 2024 revenue reached 1.935 billion yuan, a 22.65% increase year-on-year, but net profit decreased by 12.31% to 107 million yuan [2]. - In Q1 2025, revenue was 1.478 billion yuan, a slight increase of 0.38%, with net profit rising 8.92% to 163 million yuan [2][3]. Segment Performance - Nylon filament revenue was 3.95 billion yuan in 2024, up 50.5%, driven mainly by volume growth, with a gross margin increase of 1.6 percentage points [3]. - Fabric revenue was 1.6 billion yuan, a 41.3% increase, with a 25% volume increase in nylon fabric and a gross margin increase of 3.2 percentage points [3]. - Grey cloth revenue was 1.34 billion yuan, up 11.5%, with a gross margin increase of 1.8 percentage points [3]. Market Dynamics - In Q1 2025, nylon product sales volume increased while prices decreased, with the average selling price of nylon filament around 21,000 yuan per ton, down approximately 8.5% year-on-year [3]. - The company received government subsidies of 71 million yuan in Q1 2025, an increase of 46 million yuan year-on-year, which helped bolster profits despite pressure on net profit margins [3]. Future Outlook - The company anticipates that its new recycling project will gradually contribute to performance growth, with a target of 20,000 tons of new capacity ramping up [3]. - The establishment of a factory in Vietnam is expected to strengthen the company's competitive position and enhance order acquisition, with an increasing proportion of high-value-added orders [3].

Core Viewpoint - The company has shown strong profit performance in Q1 2025, benefiting from government subsidies, with a notable increase in net profit despite a decline in non-recurring profit [1][2]. Financial Performance - In Q1 2025, the company achieved operating revenue of 1.478 billion yuan, a year-on-year increase of 0.38% [1]. - The net profit attributable to shareholders was 163 million yuan, up 8.92% year-on-year, while the non-recurring net profit decreased by 22.62% to 105 million yuan [1]. - Government subsidies amounted to 70.68 million yuan in Q1 2025, an increase of 45.69 million yuan year-on-year [1]. - Gross margin decreased by 1.07 percentage points year-on-year to 22.33%, but improved by 2.13 percentage points quarter-on-quarter [1]. - The net profit margin increased by 1.06 percentage points year-on-year to 11.23%, with a quarter-on-quarter increase of 5.7 percentage points [1]. Cost and Efficiency - The operating expense ratio rose by 1.22 percentage points year-on-year to 12.2%, with sales expenses increasing by 0.28 percentage points to 1.16% [1]. - R&D expenses decreased by 0.92 percentage points to 4.52%, while financial expenses increased by 0.66 percentage points to 2.23% [1]. - The company sold 47,200 tons of nylon filament at an average price of 21,300 yuan, a year-on-year price decrease of 8.5% [1]. - The average price of nylon chips in Q1 2025 was 12,100 yuan per ton, down 16.08% year-on-year [1]. Cash Flow and Inventory - The company reported operating cash flow of 73 million yuan, a significant increase of 147.35% year-on-year [2]. - The ratio of operating cash flow to net operating income was 66.11% [2]. - Inventory turnover days increased by 27.17 days year-on-year to 195.65 days, while accounts receivable turnover days rose by 6.07 days to 67.57 days [2]. - Accounts payable turnover days decreased by 22.78 days to 66.45 days [2]. Investment Outlook - The company's PURECO product, made from chemical recycling of nylon, has received GRS certification, with potential for significant growth as customer engagement and production capacity ramp up in 2025 [2]. - The long-term growth path appears clear with a continuous increase in the proportion of differentiated products and ample new capacity [2]. - Profit forecasts for 2025-2027 have been slightly adjusted downwards due to potential impacts from trade friction, with expected net profits of 880 million, 1.05 billion, and 1.22 billion yuan respectively [2].

Core Viewpoint - The announcement from Zhejiang Taihua New Materials Group Co., Ltd. provides key financial data and operational performance for the first quarter of 2025, ensuring the accuracy and completeness of the information disclosed [1][5]. Financial Data - The financial statements for the first quarter of 2025 have not been audited [1]. - The company guarantees the authenticity and completeness of the financial information presented in the quarterly report [1][5]. Shareholder Information - The report includes details on the total number of ordinary shareholders and the top ten shareholders, although specific figures are not provided in the text [2]. Operational Performance - The announcement includes major operational data for the first quarter of 2025, including production volume, sales volume, and revenue, although specific numbers are not detailed in the text [5][6]. - There were no significant events during the reporting period that impacted the company's operations [6]. Price Changes - The report mentions the price changes of major products and raw materials, but specific details are not included [6]. Other Important Information - The company emphasizes that the operational data is based on internal statistics and is not audited, serving only to inform investors about the company's performance [6].

Core Viewpoint - The company, Taihua New Materials, reported steady growth in its financial performance, emphasizing its commitment to high-quality development in the textile and apparel industry, focusing on an integrated nylon industry chain and innovation in product offerings [1][2]. Financial Performance - In 2024, the company achieved a revenue of 7.12 billion yuan, representing a year-on-year increase of 39.8%, and a net profit attributable to shareholders of 730 million yuan, up 61.6% year-on-year [1]. - For the first quarter of 2025, the company reported a revenue of 1.48 billion yuan, a slight increase of 0.4% year-on-year, and a net profit of 163 million yuan, reflecting an 8.9% year-on-year growth [1]. Industry Position and Strategy - Since its establishment in 2001, the company has focused on the nylon industry, expanding its operations across the entire industry chain, including recycling, regeneration, polymerization, spinning, and weaving [1]. - The company specializes in the research, production, and sales of nylon 6, nylon 66, and environmentally friendly regenerated nylon products, catering to global customers with high-end functional fabrics [1]. Research and Development - In 2024, the company invested 370.815 million yuan in R&D, a 31.69% increase year-on-year, accounting for 5.21% of its revenue [1]. - The company has intensified its R&D efforts in various areas, including functional yarns and differentiated fabrics, achieving significant product development and production growth [2]. Future Outlook - Looking ahead to 2025, the company aims to become a leader in differentiated, high-performance nylon fibers and fabrics, focusing on transforming its industry chain into a value chain [2]. - The company plans to promote the construction of green multifunctional nylon new material projects, leveraging its scale advantages and enhancing its competitive edge in differentiated products like nylon 66 and regenerated nylon [2].

证券代码：603055 证券简称：台华新材 公告编号：2025-040 浙江台华新材料集团股份有限公司 2025 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个别及连带责任。 浙江台华新材料集团股份有限公司（以下简称"公司"）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：第十三号——化工》要求，现 将 2025 年第一季度主要经营数据披露如下： 二、主要产品和原材料的价格变动情况 1、主要产品的价格变动情况（不含税） | 主要产品 | 2025 1-3 | 年 | 月 | 2024 1-3 月 | 年 | | 变动比率 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 平均售价（元/吨） | | | 平均售价（元/吨） | | | | | 锦纶长丝 | | | 21,287.66 | | | 23,264.68 | -8.50% | 2、主要原材料的价格变动情况（不含税） | 主要产品 | 2025 1-3 | 年 | 月 | ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,478,072,095.66, representing a year-on-year increase of 0.38% compared to CNY 1,472,423,298.45 in the same period last year[4]. - Net profit attributable to shareholders of the listed company reached CNY 163,158,724.13, an increase of 8.92% from CNY 149,800,220.36 in the previous year[4]. - Basic and diluted earnings per share were both CNY 0.18, reflecting a 5.88% increase from CNY 0.17 in the previous year[4]. - Net profit for Q1 2025 was ¥165,956,800.46, representing a 10.8% increase from ¥149,767,327.71 in Q1 2024[20]. - The company reported a total comprehensive income of ¥165,635,200.46 for Q1 2025, compared to ¥153,490,927.71 in Q1 2024[21]. Cash Flow - The net cash flow from operating activities was CNY 73,379,178.56, a significant improvement from a negative cash flow of CNY -154,984,708.42 in the same period last year[4]. - Operating cash inflow totaled CNY 1,213,206,548.41, an increase from CNY 1,097,898,800.05 year-over-year[25]. - Cash generated from operating activities in Q1 2025 was ¥1,075,162,245.13, an increase from ¥1,008,028,796.80 in Q1 2024[24]. - The net cash flow from operating activities for the first quarter of 2025 was CNY 151,878,691.77, a significant improvement from a negative cash flow of CNY -84,341,361.55 in the first quarter of 2024[35]. - The net cash flow from financing activities for the first quarter of 2025 was CNY -30,277,622.08, a decrease from CNY 121,185,941.96 in the first quarter of 2024, showing a shift in financing strategy[36]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 11,692,873,791.49, a decrease of 0.78% from CNY 11,784,816,808.08 at the end of the previous year[5]. - Total current assets decreased to ¥4,924,745,104.26 from ¥5,120,049,404.53, a decline of about 3.8%[14]. - Total liabilities decreased to ¥6,468,389,595.96 from ¥6,730,152,196.62, indicating a decline of about 3.9%[15]. - Long-term borrowings increased to ¥1,656,186,968.93 from ¥1,231,406,917.54, representing an increase of approximately 34.4%[15]. - Total current liabilities decreased to ¥4,004,841,322.66 from ¥4,695,888,418.99, a reduction of about 14.7%[15]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,863[8]. - The top ten shareholders held a combined 59.32% of the company's shares, with the largest shareholder, Fuhua Global Limited, holding 28.04%[9]. - Shareholders' equity attributable to shareholders of the listed company increased by 3.34% to CNY 5,166,749,799.81 from CNY 4,999,728,292.07 at the end of the previous year[5]. Operating Costs and Expenses - Total operating costs for Q1 2025 were ¥1,342,241,965.74, up 3.2% from ¥1,299,855,291.20 in Q1 2024[19]. - Research and development expenses for Q1 2025 were ¥66,761,674.19, down 16.6% from ¥80,083,285.85 in Q1 2024[20]. - Research and development expenses decreased to CNY 7,355,290.56 from CNY 8,732,756.08 year-over-year[31]. Market Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19].

浙江台华新材料集团股份有限公司 2024 年年度股东大会 会议材料 二〇二五年五月 | 目录 | | --- | | 2024 | 年年度股东大会会议须知 | 3 | | | --- | --- | --- | --- | | 2024 | 年年度股东大会会议议程 | 5 | | | 议案一 | 2024 | 年度董事会工作报告 | 7 | | 议案二 | 2024 | 年度监事会工作报告 | 8 | | 议案三 | 2024 年度财务决算报告 | | 9 | | 议案四 | 2024 | 年年度报告全文及报告摘要 | 10 | | 议案五 | 2024 年度利润分配方案 | | 11 | | 议案六 | 关于 2025 | 年度公司及子公司向金融机构申请综合授信额度的议案 | 12 | | 议案七 | 关于公司 2025 | 年度担保计划的议案 | 13 | | 议案八 | | 关于公司拟为联营企业提供关联担保的议案 | 15 | | 议案九 | 关于续聘 2025 | 年度会计师事务所的议案 | 17 | | 议案十 | 关于 2025 | 年度公司董事薪酬方案的议案 | 18 | | 议案十一 | 关于 ...