Group 1 - The core transaction of Yuejian Intelligent involved 1.5964 million shares traded at a price of 13.66 yuan, totaling 21.8068 million yuan, which accounted for 37.88% of the total trading volume on that day [1][2] - The transaction price represented a discount of 9.18% compared to the market closing price of 15.04 yuan [1][2]

证券代码：603062 证券简称：麦加芯彩 公告编号：2025-065 在确保募集资金项目按计划实施的前提下，公司及子公司拟使用额度不 超过人民币8.8亿元（含本数）的闲置募集资金进行现金管理，采取长短期结 合的方式，购买符合《上市公司募集资金监管规则（2025年修订）》第十一条 规定的结构性存款、大额存单等安全性高、流动性好的保本型产品。使用期限 自公司本次董事会审议通过之日起12个月内有效。在上述额度和期限内，资金 可循环滚动使用。产品期限不得长于内部决策授权使用期限，且不得长于12个 月。 截至本公告披露日，公司使用部分闲置募集资金购买的保本型产品已赎 回，募集资金本金及理财收益已归还至募集资金账户，具体情况如下： 特此公告。 麦加芯彩新材料科技（上海）股份有限公司董事会 2025年8月30日 单位：万元 受托方名称 产品 类型 起始日 认购金额 产品期限 （天） 赎回情况 本金 金额 收益 金额 浙商银行上海 嘉定支行 结 构 性 存 款 2025/8/1 2,000 28 2,000 2.8 浙商银行上海 嘉定支行 结 构 性 存 款 2025/8/1 2,000 28 2,000 2.8 麦加芯彩 ...

证券代码：603062 证券简称：麦加芯彩 公告编号：2025-064 麦加芯彩新材料科技（上海）股份有限公司 关于使用部分闲置募集资金进行现金管理赎回的公告 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、准确性和完整性依法承担法律责任。 麦加芯彩新材料科技（上海）股份有限公司（以下简称"公司"）于 2024年10月25日召开第二届董事会第八次会议、第二届监事会第七次会议，审 议通过了《关于使用部分闲置募集资金进行现金管理及以协定存款方式存放募 集资金余额的议案》。公司监事会和保荐机构瑞银证券有限责任公司（以下简 称"保荐机构"）对上述事项发表了明确的同意意见。 在确保募集资金项目按计划实施的前提下，公司及子公司拟使用额度不 超过人民币8.8亿元（含本数）的闲置募集资金进行现金管理，采取长短期结 合的方式，购买符合《上市公司募集资金监管规则（2025年修订）》第十一条 规定的结构性存款、大额存单等安全性高、流动性好的保本型产品。使用期限 自公司本次董事会审议通过之日起12个月内有效。在上述额度和期限内，资金 可循环滚动使用。产品期限不得长于内部决策授权使 ...

Investment Rating - The report maintains a "Buy-B" rating for the company [1] Core Views - The demand for new energy coatings is on the rise, with significant growth in sales and revenue [3][4] - The company has achieved breakthroughs in marine coatings, with stable sales and increased revenue in the shipbuilding sector [4] - The company is expanding its production capacity to meet market demand, with new projects coming online [5] Financial Performance - In the first half of 2025, the company achieved revenue of 888 million yuan, a year-on-year increase of 17.09%, and a net profit of 110 million yuan, up 48.83% [2] - The gross margin improved to 23.50%, an increase of 3.9 percentage points year-on-year [2] - The sales volume reached 47,600 tons, a 7.80% increase compared to the same period last year [2] Business Segments - New energy coatings generated revenue of 280 million yuan in the first half of 2025, a year-on-year increase of 71.66%, accounting for 31.55% of total revenue [3] - The marine equipment coatings segment maintained stable sales, with container coatings achieving revenue of 600 million yuan, a 3.8% increase year-on-year [4] Future Projections - Revenue projections for 2025 to 2027 are 1.797 billion yuan, 2.045 billion yuan, and 2.378 billion yuan, respectively, with expected growth rates of -16.0%, 13.8%, and 16.3% [7] - Net profit forecasts for the same period are 240 million yuan, 303 million yuan, and 371 million yuan, with growth rates of 13.8%, 26.2%, and 22.6% [7] Valuation Metrics - The report provides an estimated EPS of 2.22 yuan for 2025, with a PE ratio of 23.5 [7] - The projected ROE for 2025 is 11.0% [11]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The company reported a revenue of 889 million yuan for the first half of 2025, representing a year-on-year growth of 17%, with a net profit attributable to shareholders of 110 million yuan, up 49% year-on-year [2][4]. - In Q2 2025, the revenue was 460 million yuan, showing a 2% year-on-year increase and a 9% quarter-on-quarter increase, while the net profit was 60 million yuan, reflecting a 31% year-on-year growth and a 20% quarter-on-quarter growth [2][4]. - The revenue from wind power coatings significantly increased, contributing to the overall revenue growth, with wind power coatings revenue reaching 280 million yuan, a 72% increase year-on-year [10]. - The company is in the process of establishing an industrial coatings platform, with a diversified business structure that includes traditional and new business segments [10]. Summary by Sections Financial Performance - The company achieved a gross margin of approximately 23.5% in the first half of 2025, an increase of 3.9 percentage points year-on-year, primarily due to the higher proportion of high-margin wind power business [10]. - The net profit margin for the first half of 2025 was approximately 12.4%, up 2.6 percentage points year-on-year [10]. Revenue Breakdown - Revenue from the marine equipment coatings (mainly containers) was 600 million yuan, accounting for 68% of total revenue, while revenue from the new energy sector (mainly wind power) was 280 million yuan, accounting for 32% [10]. - The average price of wind power coatings was approximately 29,900 yuan per ton, a decrease of 7% year-on-year [10]. Market Outlook - The wind power sector is expected to continue its high growth in the second half of 2025, with stable demand anticipated for wind power coatings [10]. - The company has begun sales of ship coatings, which are expected to provide significant profit elasticity due to the large market size and high profit margins [10]. Strategic Development - The company has formed a strategic framework consisting of three traditional and three new business segments, along with four smaller new ventures, aiming for sustained growth [10].

Group 1 - The company approved the use of idle raised funds (including oversubscription funds) for cash management, with a total amount not exceeding RMB 980 million, effective for 12 months from the date of shareholder meeting approval [1] - The cash management proposal was reviewed and approved at the company's second extraordinary general meeting held on December 5, 2023 [1] - The independent directors, supervisory board, and sponsor institution have all expressed their agreement with the cash management proposal [1] Group 2 - The company has opened dedicated settlement accounts for cash management at Ningbo Bank and Bank of China, which have since been closed as the funds were transferred back to the special account for raised funds [2] - The specific details of the closed dedicated settlement accounts were provided, including account names and institutions [2]

证券代码：603062 证券简称：麦加芯彩 公告编号：2025-063 麦加芯彩新材料科技（上海）股份有限公司 关于注销募集资金现金管理专用结算账户的公告 公司分别在宁波银行股份有限公司上海静安支行和中国银行上海市浦东大道 支行开立了募集资金现金管理专用结算账户。截至本公告披露日，公司该募集资 金现金管理专用结算账户内资金已转回募集资金专项账户。鉴于公司不再使用该 账户，根据《上海证券交易所上市公司自律监管指引第 1 号——规范运作》的相 关规定，公司于近日办理完毕以上专用结算账户的注销手续。 注销的专用结算账户如下： | | | 1 | 募集资金 现金管理 | | 宁波银行股份有 限公司上海静安 | | | --- | --- | --- | --- | | | 麦加芯彩新材料科技 | | 86041110000211356 | | 专用结算 | （珠海）有限公司 | 支行 | | | 账户 | | | | | 募集资金 现金管理 | | 中国银行上海市 | 445585981609 | | | 麦加芯彩新材料科技 | | | | 专用结算 | （珠海）有限公司 | 浦东大道支行 | | | 账户 | | ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index within the next six months [4][18]. Core Views - The company has demonstrated significant revenue growth in the new energy coatings sector, with a notable increase in industrial coatings platform development [1][2]. - The strong performance in the wind power sector and resilience in the container coatings market are key drivers of the company's growth [2][3]. - The company is expanding into new business areas such as shipbuilding, offshore engineering, and photovoltaic coatings, which are expected to contribute to future revenue growth [3][9]. Financial Summary - The company reported a revenue of 1,141 million yuan in 2023, with projections of 2,139 million yuan in 2024 and 2,006 million yuan in 2025, reflecting a year-on-year growth rate of -17.7%, 87.6%, and -6.3% respectively [1][10]. - The net profit attributable to the parent company is projected to grow from 167 million yuan in 2023 to 211 million yuan in 2024 and 265 million yuan in 2025, with corresponding growth rates of -35.8%, 26.3%, and 25.7% [1][10]. - The company's return on equity (ROE) is expected to improve from 7.9% in 2023 to 14.3% by 2027 [1][10]. Business Segments - The new energy segment achieved revenue of 280 million yuan in the first half of 2025, with a growth rate exceeding 70% and a gross margin of 36.09% [2]. - The marine equipment segment generated revenue of 604 million yuan, with a gross margin of 17.62%, indicating stable performance in the container business despite market challenges [2]. - The company is actively pursuing new business opportunities in ship coatings, photovoltaic coatings, and offshore wind power coatings, with significant progress in certifications and sales [3][9]. Production Capacity and Strategy - The company has completed the construction of its Zhuhai production base, which has a capacity of 70,000 tons, aimed at serving the South China and Southeast Asia markets [8]. - The company plans to expand its production capacity further with a new project in Nantong, expected to be completed by the end of 2025, supporting its industrial coatings platform strategy [8].

Investment Rating - Industry Rating: Recommended [4] Core Viewpoints - The construction materials sector is experiencing a favorable investment moment due to the "anti-involution" trend and the arrival of peak season, leading to accelerated self-discipline in the cement industry. Recommended stocks include Huaxin Cement and Conch Cement, among others [1][5] - The cement market price is stabilizing at 364.15 CNY/ton, with an average shipment rate of 45.7% in key regions. The price is expected to maintain a steady upward trend [2][22] - The photovoltaic glass industry is witnessing price increases at the bottom level, with mainstream order prices for 2.0mm coated panels rising to approximately 11 CNY/sqm, reflecting a 2.33% increase [2][75] - The real estate market shows signs of marginal improvement, with new home transaction areas in 30 major cities reaching 154.48 million sqm, a 24.22% increase from the previous week [3][18] Summary by Sections Cement Industry - The national cement market price is 364.15 CNY/ton, showing stability amid tight funding and adverse weather conditions affecting demand recovery. The average shipment rate in key regions is around 45.7% [2][22] - Regions like Jiangsu and Anhui are seeing price increases of 20-30 CNY/ton, while areas like Fujian are experiencing price declines of 10-50 CNY/ton due to weak demand [22][48] Photovoltaic Glass - The market for photovoltaic glass is showing positive trading activity, with prices for 2.0mm coated panels increasing by 2.33% to around 11 CNY/sqm. The inventory levels are decreasing, indicating a tightening supply [75][76] Real Estate Market - The transaction volume for new homes in 30 major cities has improved, with a total area of 154.48 million sqm sold, reflecting a 24.22% week-on-week increase. The second-hand housing market also shows a 9% increase in transaction volume [3][18] Recommended Stocks - Recommended stocks include Huaxin Cement, Conch Cement, and others in the cement sector, as well as companies like Dongfang Yuhong and Keshun Co., which are benefiting from price increases in waterproofing products [1][5] - In the photovoltaic glass sector, stocks such as Qibin Group and Fuyao Glass are highlighted for their potential gains from price increases [1][5]

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, with revenue reaching 888 million yuan, a year-on-year growth of 17.09%, and net profit attributable to shareholders at 110 million yuan, up 48.83% [1] - The new energy sector has become a key growth driver, contributing nearly 50% to gross profit, with a revenue increase of 71.66% year-on-year [2] - The company is expanding its production capacity, with a new facility in Zhuhai expected to support growth in new business areas such as shipbuilding and photovoltaics [4] Financial Performance - For H1 2025, the company achieved operating cash flow of 180 million yuan, a significant improvement from a negative 48 million yuan in the same period last year [1] - In Q2 2025, revenue was 463 million yuan, reflecting a quarter-on-quarter growth of 9.25%, while net profit for the same quarter was 60 million yuan, showing a year-on-year increase of 19.57% [1] New Energy Sector - The new energy segment's revenue accounted for 31.55% of total revenue, up from 21.52% in the previous year, highlighting its growing importance [2] - Wind power coatings saw substantial growth due to increased domestic demand and market share, with the company achieving bulk sales to major international clients [2] - The acquisition of Covestro's photovoltaic coating business is expected to enhance profitability through technology transfer and production line development [2] Coating Business Resilience - The container coatings segment demonstrated resilience, maintaining sales levels while achieving revenue and gross profit growth [3] - The ship coatings segment made a significant breakthrough, starting to generate sales revenue after obtaining certifications from various classification societies [3] - The company is developing a diversified business matrix with a "3+3+4" strategy, focusing on both established and new markets [3] Production Capacity Expansion - The company is on track to complete a 40,000-ton expansion plan in Nantong by the end of the year, which will support the growth of new business areas [4] - The new Zhuhai facility, with a capacity of 70,000 tons, is expected to enhance market reach in South China and Southeast Asia [3]