Investment Rating - The report maintains an "Accumulate" rating for the company with a target price of 48.40 RMB [7][8] Core Views - The company achieved Q1 2025 revenue of 424 million RMB, a year-on-year increase of 41%, but a quarter-on-quarter decrease of 43%. The net profit attributable to shareholders was 50 million RMB, up 77% year-on-year but down 29% quarter-on-quarter [1] - The decline in container paint sales was a key factor for the lower-than-expected net profit, but the growth potential in wind power and marine coatings is promising [1][4] - The company is expanding its overseas market presence and expects new projects to contribute to revenue starting in 2025 [3][4] Summary by Sections Sales Performance - Container paint sales in Q1 were 19,000 tons, a year-on-year increase of 29% but a quarter-on-quarter decrease of 52%. Revenue from container paints was 310 million RMB, also up 41% year-on-year but down 50% quarter-on-quarter [2] - Wind power paint sales saw a significant year-on-year increase of 67%, with Q1 sales reaching 3,600 tons and revenue of 114 million RMB, a 47% increase year-on-year [2] Profitability - The overall gross margin for Q1 improved to 23.8%, up 3.4 percentage points year-on-year and 2.7 percentage points quarter-on-quarter, attributed to the increase in container paint prices [2] - The company expects net profits for 2025-2027 to be 261 million, 310 million, and 382 million RMB respectively, with corresponding EPS of 2.42, 2.87, and 3.54 RMB [4][6] Future Outlook - The company has established a sales and R&D team in Europe and is entering the supply chains of major global companies, indicating a strong potential for market expansion [3] - New product developments, including a high-performance coating project expected to be completed by June 2025, are anticipated to contribute to revenue growth [3][4]

Core Viewpoint - The company reported strong financial performance in Q1 2025, with significant year-on-year growth in revenue and net profit, driven by increased demand in the container and wind power coatings sectors [1][2]. Financial Performance - The company achieved revenue of 424 million yuan in Q1 2025, representing a year-on-year increase of 40.50%, maintaining rapid growth from a previous 31.02% increase [1]. - The net profit attributable to shareholders reached 50.14 million yuan, up 77.35% year-on-year, while the net profit excluding non-recurring items was 46.43 million yuan, reflecting a 104.93% increase [2]. - The gross profit margin improved significantly to 23.76%, an increase of 3.39 percentage points year-on-year, attributed to higher product prices and lower raw material costs [2]. Product Performance - Revenue from container coatings was 309 million yuan, up 41.39% year-on-year, while wind power coatings revenue was 114 million yuan, increasing by 47.00% [1]. - The average price per ton for container coatings was 1.62 yuan, up 4.05% quarter-on-quarter and 9.77% year-on-year, while wind power coatings averaged 3.16 yuan per ton, up 5.93% quarter-on-quarter but down 11.87% year-on-year [1]. Market Position and Future Growth - The company is positioned as a leading player in high-barrier segments of the industrial coatings industry, with strong technical advantages and a rich resource of high-quality downstream clients [2]. - The company has successfully entered the supply chain of major clients in the container and wind power sectors, with expectations for further market share growth [3]. - New business opportunities are emerging from the certification of anti-fouling paints by the Norwegian classification society, as well as the acquisition of intellectual property for solar coating technology [3]. Revenue Forecast - Projected revenues for 2025-2027 are 1.887 billion yuan, 2.091 billion yuan, and 2.377 billion yuan, with year-on-year growth rates of -11.8%, 10.8%, and 13.7% respectively [3]. - Expected net profits for the same period are 263 million yuan, 319 million yuan, and 374 million yuan, with growth rates of 24.8%, 21.3%, and 17.3% respectively [3].

登录新浪财经APP 搜索【信披】查看更多考评等级 (一) 主要会计数据和财务指标 单位：元 币种：人民币 (二) 非经常性损益项目和金额 证券代码：603062 证券简称：麦加芯彩 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 √适用 □不适用 单位:元 币种:人民币 对公司将《公开发行证券的公司信息披露解释性公告第1号——非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号——非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 □适用 √不适用 (三) 主要会计数据、财务指标发生变动的情况、原因 √适用 □不适 ...

Core Insights - The company reported a significant increase in revenue and profit for Q1 2025, with operating income reaching 424 million yuan, a 40.50% year-on-year increase, and net profit attributable to shareholders at 50.14 million yuan, up 77.35% from the previous year [1] - The company's gross profit margin improved from 20.37% to 23.76%, while the net profit margin increased from 9.36% to 11.82%, indicating enhanced profitability [1] - The container coating business generated 309 million yuan in revenue, a 41% increase, while wind power coatings achieved sales of 114 million yuan, with a growth rate of 47% [1] Business Development - The company is expanding its application areas, aiming to replicate its success in domestic substitution in the container and wind power coating sectors [2] - The company is focused on becoming the most competitive platform enterprise in China's industrial coating sector, enhancing its core competitiveness [2] - The development and certification of ship coatings are progressing as planned, with expectations for foreign wind power manufacturers' orders to reach mass production by 2025 [1]

证券代码：603062 证券简称：麦加芯彩 公告编号：2025-029 麦加芯彩新材料科技（上海）股份有限公司 第二届监事会第十一次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 麦加芯彩新材料科技（上海）股份有限公司第二届监事会第十一次会议于 2025 年 4 月 25 日 14:00 在上海市嘉定区马陆镇思诚路 1515 号 1 号楼 2 层大会议 室召开。本次会议召开的时间、地点和审议事项已于 2025 年 4 月 15 日以书面方 式通知了全体监事。本次会议由监事会主席刘宝营召集并主持，本次会议采用现 场表决方式召开监事会会议。本次会议应出席的监事 3 名，实际出席会议的监事 3 名。会议的召集、召开和表决程序符合有关法律法规和《公司章程》的规定。 经各位监事认真审议，会议形成了如下决议： 二、监事会会议审议情况 经与会监事投票表决，审议通过了如下议案： 1.审议通过《公司 2025 年第一季度报告》 表决结果：3 票同意，0 票反对，0 票弃权。 公司 2025 年第一季度报 ...

证券代码：603062 证券简称：麦加芯彩 公告编号：2025-028 麦加芯彩新材料科技（上海）股份有限公司 第二届董事会第十四次会议决议公告 麦加芯彩新材料科技（上海）股份有限公司第二届董事会第十四次会议于 2025 年 4 月 25 日 13:30 在上海市嘉定区马陆镇思诚路 1515 号 1 号楼 2 层大会议室召开。 本次会议召开的时间、地点和审议事项已于 2025 年 4 月 15 日以书面方式通知了全 体董事。本次会议应出席的董事 9 名，实际出席会议的董事 9 名（其中：通讯方式 出席董事 7 人）。本次会议由董事长 WONG YIN YEE（黄雁夷）女士召集并主持，监 事、部分高级管理人员列席。本次会议采用现场结合通讯表决方式。会议的召集、 召开和表决程序符合有关法律法规和《公司章程》的规定。经各位董事认真审议， 会议形成了如下决议： 二、董事会会议审议情况 经与会董事投票表决，审议通过了如下议案： 1.审议通过《公司 2025 年第一季度报告》 本议案此前经公司董事会审计委员会审议通过，同意提交董事会审议。 表决结果：9 票同意，0 票反对，0 票弃权。 2025 年 第 一 季 度 报 ...

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.4700 | 0.2600 | 80.77 | 0.7000 | | 每股净资产（元） | 0 | 19.89 | -100 | 0 | | 每股公积金(元) | 14.09 | 14.09 | 0 | 0 | | 每股未分配利润(元) | 4.54 | 4.24 | 7.08 | | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 4.24 | 3.02 | 40.4 | 2.3 | | 净利润(亿元) | 0.5 | 0.28 | 78.57 | 0.56 | | 净资产收益率(%) | 2.40 | 1.32 | 81.82 | | | 名称 | 持有数量(万股) | 占总股本比例 | 增减情况(万 | | --- | --- | --- | --- | | | | (%) | 股) | | 全国社保基金一一一组合 | 32.75 ...

麦加芯彩新材料科技（上海）股份有限公司2025 年第一季度报告 一、主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | | | | 本报告期比上年同 | | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期 | 期增减变动幅度 | | | | | (%) | | 营业收入 | 424,258,073.31 | 301,961,984.30 | 40.50 | | 归属于上市公司股东的净利 润 | 50,136,729.67 | 28,269,903.38 | 77.35 | | 归属于上市公司股东的扣除 | 46,430,363.31 | 22,657,208.08 | 104.93 | | 非经常性损益的净利润 | | | | | 经营活动产生的现金流量净 | 23,341,280.11 | -127,518,036.47 | 不适用 | | 额 | | | | 1 / 12 麦加芯彩新材料科技（上海）股份有限公司2025 年第一季度报告 | 基本每股收益（元/股） | 0.47 | 0.26 | 80.77 | | --- | --- | --- | ...

证券代码：603062 证券简称：麦加芯彩 公告编号：2025-030 麦加芯彩新材料科技（上海）股份有限公司 2025 年第一季度主要经营数据的公告 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。 | 主要原材料 | 2025 年第一季度 | 与上季度相比变 | 与去年同期相比 | | --- | --- | --- | --- | | | 平均采购价 | 动比率（%） | 变动比率（%） | | 水性环氧乳液 | 10,097.09 | 0.03 | -0.85 | | 聚氨酯树脂 | 20,536.29 | -3.60 | -6.53 | | 水性丙烯酸乳液 | 6,649.85 | -0.96 | -5.42 | | 水性环氧树脂 | 19,778.76 | -0.67 | -1.97 | | 锌粉 | 24,323.44 | -1.90 | 13.89 | | 钛白粉 | 13,367.79 | -1.47 | -7.37 | | 聚异氰酸酯 | 31,304.38 | 2.70 | -10.88 | | 水性环氧固 ...