金能科技股份有限公司 2024 年年度股东大会会议材料 金能科技股份有限公司 2024 年年度股东大会 会议材料 二〇二五年四月 金能科技 603113 1 金能科技股份有限公司 2024 年年度股东大会会议材料 2024 年年度股东大会会议须知 为了维护广大投资者的合法权益，确保股东大会的正常秩序和议事效率，根据《中 华人民共和国公司法》（以下简称"公司法"）、《上海证券交易所股票上市规则》及《金 能科技股份有限公司章程》（以下简称"公司章程"）等相关法律、法规及规范性文件， 制定本须知，请出席股东大会的全体人员自觉遵守。 1、大会设会务组，由公司董事会秘书负责会议的程序安排和会务工作。 2、为保证本次大会的严肃性和正常秩序，切实维护股东的合法权益，务必请出 席大会的股东或股东代理人（以下统称"股东"）及相关人员准时到达会场签到确认 参会资格。股东在参会登记时间内没有通过传真或书面信函方式登记的，不在签到表 上登记签到的，或会议正式开始后没有统计在会议公布股权数之内的股东或代理人， 不得参加表决。 3、出席会议的股东（或股东代理人）依法享有发言权、表决权等各项权利，并 履行法定义务和遵守相关规则。大会召开期 ...

Investment Rating - The report maintains a "Buy" investment rating for the company [1][9]. Core Viewpoints - The company achieved a revenue of 16.265 billion yuan in 2024, representing a year-on-year growth of 11.53%, but the net profit attributable to shareholders turned negative at -0.58 billion yuan, a decrease of 1.95 billion yuan from the previous year [1][2]. - The decline in net profit is primarily attributed to a significant drop in product prices, which outpaced the decrease in raw material costs, leading to a reduction in gross margins [2][3]. - The company is actively increasing inventory reserves, with a net cash flow from operating activities dropping by 81.23% to 0.217 billion yuan, while the ending inventory balance increased by 43.98% compared to 2023 [3]. Revenue and Production Growth - The company experienced growth in both revenue and production capacity, with the production volumes for olefins, carbon black, and coal tar products reaching 1.1447 million tons, 0.6716 million tons, and 2.1014 million tons respectively, marking year-on-year increases of 37%, 3%, and 6% [2]. - The sales volumes for these products were 1.1226 million tons, 0.6805 million tons, and 2.0909 million tons, with respective growth rates of 36%, 5%, and 5% [2]. Future Growth Potential - The rapid growth of the domestic new energy vehicle industry is expected to create significant opportunities in the automotive replacement tire market, projected to reach 257.8 billion yuan in 2024, with a CAGR of 7% from 2024 to 2026 [4][8]. - Carbon black, which accounts for 28.79% of the company's annual revenue, is anticipated to become a new growth point, especially given its 66.7% downstream application in tire manufacturing [4][8]. Profit Forecast - The company is projected to achieve net profits of 0.126 billion yuan, 0.244 billion yuan, and 0.328 billion yuan for the years 2025 to 2027, with corresponding price-to-earnings ratios of 39.6, 20.4, and 15.2 times [9][11].

2025 年 04 月 02 日 营收增长态势向好，烯烃毛利率降低拖累业绩 —金能科技（603113.SH）公司事件点评报告 买入(维持) 事件 金能科技发布 2024 年年报：公司全年实现营业收入 162.65 亿元，同比增长 11.53%，归母净利润-0.58 亿元，同比减少 1.95 亿元，由正转负；2024 年第四季度实现营业收入 41.15 亿元，同比增长 12.13%，环比下滑 21.83%；实现归母净利润 -0.25 亿元，同比减少 0.36 亿元，由正转负。 投资要点 ▌ 营收、产能双扩，归母净利润由正转负 2024 年公司全年实现营业收入同比增长 11.53%，主要系二期 PDH、PP 项目顺利投产运行带来产销量增长。公司烯烃/炭黑 /煤焦产品在 2024 年内生产量分别为 114.47/67.16/210.14 万吨，产量分别同比增长 37%/3%/6%；销量方面，烯烃/炭黑 /煤焦产品销量分别为 112.26/68.05/209.09 万吨，销量分别 同比增长 36%/5%/5%。虽然公司烯烃产品上产贡献大量业 绩，但公司归母净利润由正转负，主要原因是产品价格降幅 大于原材料价格降幅导致 ...

可转债转股结果暨股份变动公告 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。 重要内容提示： 转股情况：截至 2025 年 3 月 31 日，累计共有 513,561,000 元"金能转 债"已转换成公司股票，累计转股数为 47,748,729 股，占可转债转股前公司已 发行股份总额的 7.064%。 未转股可转债情况：截至 2025 年 3 月 31 日，尚未转股的可转债金额为 956,437,000 元，占可转债发行总量的 63.7625%。 一、可转债发行上市概况 | 证券代码：603113 | 证券简称：金能科技 公告编号：2025-035 | | --- | --- | | 债券代码：113545 | 债券简称：金能转债 | 金能科技股份有限公司 根据《上海证券交易所股票上市规则》有关规定及《金能科技股份有限公司 公开发行 A 股可转换公司债券募集说明书》（以下简称"《募集说明书》"）的 约定，公司该次发行的"金能转债"自可转换公司债券发行结束之日起满六个月 后的第一个交易日，即 2020 年 4 月 20 日 ...

| 证券代码：603113 | 证券简称：金能科技 | 公告编号：2025-034 | | --- | --- | --- | | 债券代码：113545 | 债券简称：金能转债 | | 金能科技股份有限公司 关于为全资子公司提供担保的进展公告 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： 被担保人名称：金能科技股份有限公司（以下简称"公司"）之全资子公司 金能化学（青岛）有限公司（以下简称"金能化学青岛"）、金狮国际贸易（青 岛）有限公司（以下简称"金狮国贸青岛"）、金能化学（齐河）有限公司（以 下简称"金能化学齐河"）、金狮国际贸易（齐河）有限公司（以下简称"金狮 国贸齐河"）。 本次新增担保数量：2025 年 3 月，公司为金能化学青岛提供 98,165.18 万元 保证担保。 本次解除担保数量：2025 年 3 月，公司为金能化学青岛提供的 50,511.00 万元保证担保，为金能化学齐河提供的 387.75 万元保证担保。 担保余额：截至目前，公司为金能化学青岛、金狮国贸青岛、金能化学齐河、 金狮国 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's performance has been impacted by a decline in profitability from its olefin and carbon black segments, prompting a focus on recovery at the bottom of the cycle [4] - In 2024, the company achieved a revenue of 16.27 billion yuan, a year-on-year increase of 11.5%, but reported a net profit attributable to shareholders of -0.06 billion yuan, a year-on-year decline of 142.13% [4] - The forecast for net profit attributable to shareholders for 2025-2027 has been adjusted downwards, with expected profits of 0.125 billion yuan, 0.22 billion yuan, and 0.33 billion yuan respectively, reflecting significant growth rates of 316.3%, 76.1%, and 51.4% [4] Financial Performance Summary - In 2024, the company reported an operating income of 162.65 billion yuan, with a year-on-year growth of 11.5% [8] - The net profit attributable to shareholders for 2024 was -0.58 billion yuan, a decline of 142.1% compared to the previous year [8] - The gross margin for 2024 was 1.8%, with a projected increase to 4.0% in 2025 [8] - The earnings per share (EPS) for 2025 is expected to be 0.15 yuan, with a price-to-earnings (P/E) ratio of 40.8 times [8] Segment Performance - Olefin segment: In 2024, the company produced 1.1447 million tons of olefins, a year-on-year increase of 37%, with a selling price of 6451.5 yuan per ton, up 3.6% year-on-year [5] - Carbon black segment: The production volume was 672,000 tons, with a selling price of 6880.9 yuan per ton, down 7.8% year-on-year [5] - Coking segment: The company sold 2.101 million tons of coking products, with a selling price of 1450 yuan per ton, down 18.3% year-on-year [5] Capacity Expansion and Future Outlook - The Qingdao Phase II olefin project has been fully operational since the second half of 2024, increasing olefin capacity from 90,000 tons/year to 180,000 tons/year [6] - The company aims to enhance its energy utilization structure and improve the capacity utilization rate of its carbon black facilities, which is expected to lower costs and enhance competitiveness [6]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's performance has been impacted by a decline in profitability from its olefin and carbon black segments, prompting a focus on recovery at the bottom of the cycle [4] - In 2024, the company achieved a revenue of 16.27 billion yuan, a year-on-year increase of 11.5%, but reported a net profit attributable to shareholders of -0.06 billion yuan, a year-on-year decline of 142.13% [4] - The forecast for net profit attributable to shareholders for 2025-2027 has been adjusted to 0.125 billion yuan, 0.22 billion yuan, and 0.33 billion yuan respectively, reflecting significant growth rates of 316.3%, 76.1%, and 51.4% [4] Financial Summary - In 2024, the company’s olefin production reached 1.1447 million tons, a year-on-year increase of 37%, while sales increased by 36.5% [5] - The average selling price for olefins in 2024 was 6451.5 yuan per ton, up 3.6% year-on-year, but the cost per ton rose to 6617.7 yuan, a 5.2% increase [5] - The carbon black segment produced 672,000 tons in 2024, with a sales volume of 681,000 tons, but the average selling price fell by 7.8% to 6880.9 yuan per ton [5] - The company’s total revenue is projected to grow to 20.14 billion yuan in 2025, with a year-on-year growth rate of 23.8% [8] Production Capacity and Projects - The Qingdao Phase II olefin project has been fully operational since the second half of 2024, increasing the olefin production capacity from 450,000 tons per year to 1.35 million tons per year [6] - The Qi River base is focusing on specialized and refined development, with new projects expected to enhance production capabilities across various chemical products [6]

Financial Performance - The company's operating revenue for 2024 was CNY 16,265,091,864.47, an increase of 11.53% compared to CNY 14,583,782,804.28 in 2023[23] - The net profit attributable to shareholders of the listed company for 2024 was -CNY 57,872,897.83, a decrease of 142.13% from CNY 137,380,649.86 in 2023[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -CNY 129,054,712.62, a decrease of 1,864.84% compared to CNY 7,312,534.87 in 2023[23] - The net cash flow from operating activities decreased by 81.23% to CNY 216,549,719.28 from CNY 1,153,489,665.23 in 2023[23] - The total assets at the end of 2024 were CNY 19,016,690,637.55, an increase of 4.01% from CNY 18,284,342,262.24 in 2023[23] - The basic earnings per share for 2024 was -CNY 0.07, a decrease of 143.75% from CNY 0.16 in 2023[24] - The diluted earnings per share for 2024 was CNY 0.004, a decrease of 98.10% from CNY 0.21 in 2023[24] - The weighted average return on net assets for 2024 was -0.67%, a decrease of 2.24 percentage points from 1.57% in 2023[24] Revenue and Sales - In 2024, the company achieved operating revenue of CNY 16.265 billion, a year-on-year increase of 11.53%[35] - The main business revenue reached CNY 15.403 billion, up 10.46% year-on-year[35] - The sales volume of olefin products was 112.26 thousand tons, with a year-on-year increase of 37.04% in production volume[35] - The domestic revenue was 14.186 billion RMB, with a year-on-year decrease in gross margin of 1.44 percentage points[65] - The company's revenue from direct sales reached 887,797.47 thousand RMB, reflecting a year-on-year increase of 7.04%[107] - Revenue from distribution channels amounted to 652,535.07 thousand RMB, with a year-on-year increase of 15.47%[107] Production and Capacity - The production capacity for propylene reached 1.8 million tons, with a production structure including 1.5 million tons of coke and 1.35 million tons of polypropylene[34] - The company operates two major production bases in Qingdao and Qihe, with a production capacity of 1.8 million tons/year for propylene and 1.35 million tons/year for polypropylene at the Qingdao base[46] - The company achieved a production capacity of 135,000 tons for olefin products with a utilization rate of 79.94%[101] - New production capacities added include 40,000 tons/year for potassium sorbate, 900,000 tons/year for propylene, and 900,000 tons/year for polypropylene[102] Research and Development - The company applied for 38 patents and obtained 27 patent authorizations during the reporting period[34] - The company invested approximately RMB 622.28 million in R&D in 2024, representing 3.83% of its total revenue[95] - The company is developing high-value specialty materials to meet the needs of high-end sectors such as automotive lightweighting and new energy battery packaging[86] - The company has implemented a centralized procurement management system to optimize supplier evaluation and selection processes[90] - The company is in the pilot stage for several R&D projects, including a new carbon black reaction system and specialized polypropylene materials[95] Environmental and Sustainability Efforts - The company emphasizes a circular economy and green development, aiming to maximize resource utilization and value[50] - The company has implemented a comprehensive environmental monitoring system, including TSP concentration monitors and air quality stations, to oversee the effectiveness of pollution control measures[164] - The company has established emergency response plans for environmental incidents, ensuring preparedness for potential risks associated with hazardous materials[167] - The company’s wastewater treatment facilities have been operating effectively, with treated water meeting reuse standards[164] - The company implemented carbon reduction measures, achieving a reduction of 64,887.08 tons of CO2 equivalent emissions[174] Strategic Initiatives and Market Position - The company aims to enhance its competitive edge through technological innovation and the development of high-end products in the chemical sector[84] - The company is focused on expanding its market presence and improving operational efficiency through strategic initiatives[83] - The company plans to focus on a circular economy strategy to optimize resource utilization and achieve green low-carbon development[115] - The company is exploring potential acquisitions to diversify its portfolio, with a budget of 200 million RMB allocated for this purpose[197] Governance and Management - The governance structure of the company complies with relevant laws and regulations, ensuring proper operational conduct[123] - The total pre-tax remuneration for the chairman is CNY 76.85 million, while the vice chairman and deputy general manager received CNY 84.34 million[126] - The company has maintained a stable board composition with no changes in shareholding among directors during the reporting period[126] - The remuneration policy for directors and senior management is reviewed annually by the remuneration and assessment committee[134] Risks and Challenges - The company faces risks from changes in industrial policies, which could lead to penalties or disruptions in production if regulations are not adhered to[118] - Market competition in the chemical industry is intensifying, and the company must leverage its core competitive advantages to maintain performance[119] - Fluctuations in the prices of key raw materials and products, such as propylene and coal tar, could significantly impact the company's operating performance and profit margins[120] Employee and Workforce - The total number of employees in the parent company is 1,159, while the total number of employees in major subsidiaries is 1,219, resulting in a combined total of 2,378 employees[147] - The number of employees by professional category includes 1,987 production personnel, 72 sales personnel, 121 technical personnel, 61 financial personnel, and 137 administrative personnel[147] - The educational background of employees shows that 1,317 have a college degree or above, while 1,061 have a high school diploma or below[147]

致同会计师事务所（特殊普通合伙） 目 录 专项核查报告 公司 2024 年度营业收入扣除情况表及说明 1-2 金能科技股份有限公司 营业收入扣除情况表 专项核查报告 致同会计师事务所（特殊普通合伙） 中国北京 朝阳区建国门外大街 22 号 赛特广场 5 层 邮编 100004 电话 +86 10 8566 5588 传真 +86 10 8566 5120 www.grantthornton.cn 金能科技股份有限公司 营业收入扣除情况表专项核查报告 致同专字（2025）第 371A002556 号 金能科技股份有限公司全体股东： 我们接受委托，在审计了金能科技股份有限公司（以下简称"金能科技" 或"公司"）2024 年 12 月 31 日的合并及公司资产负债表，2024 年度的合并及 公司利润表、合并及公司现金流量表、合并及公司股东权益变动表以及财务 报表附注的基础上，对后附的《金能科技股份有限公司 2024 年度营业收入扣 除情况表及说明》（以下简称"营业收入扣除情况表"）进行了专项核查。 按照《上海证券交易所股票上市规则》（以下简称"上市规则"）和 《上海证券交易所上市公司自律监管指南第 2 号——业务办 ...

按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求， 我们审计了金能科技股份有限公司（以下简称"金能科技"或"公司"） 2024 年 12 月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业 内部控制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效 性是金能科技公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性 发表审计意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 金能科技股份有限公司 二〇二四年度 内部控制审计报告 致同会计师事务所（特殊普通合伙） 致同会计师事务所（特殊普通合伙） 中国北京 朝阳区建国门外大街 22 号 赛特广场 5 层 邮编 100004 电话 +86 10 8566 5588 传真 +86 10 8566 5120 www.grantthornton.cn 内部控制审计报告 致同审字（2025）第 371A003490 号 金能科技股份有限公司全体股东： 此件仅供业务报告使用，复印无效 | र व र र 同向应 同 同 ...