证券代码：603378 证券简称：亚士创能 公告编号：2024-077 公司于 2024 年 11 月 20 日收到实际控制人李金钟先生的通知，获悉其将所 持有的部分公司股份办理了解除质押业务，现将相关情况公告如下： | 股东名称 | 李金钟 | | --- | --- | | 是否为控股股东 | 否 | | 本次解除质押股份数量(股) | 13,500,000 | | 占其所持股份比例 | 50.00% | | 占公司总股本比例 | 3.15% | | 解除质押时间 | 2024 年 11 月 19 日 | | 持股数量（股） | 27,000,395 | 亚士创能科技（上海）股份有限公司 关于实际控制人部分股份解除质押的公告 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个别及连带责任。 重要内容提示: 亚士创能科技（上海）股份有限公司（以下简称"公司"）实际控制人李 金钟持有公司股份 27,000,395 股，占公司总股本的 6.30%。李金钟此前持有公 司股份累计质押数量为 27,000,000 股，本次解除质押数量为 13,5 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 9.43 CNY, based on a projected PB of 2.3x for 2024 [1][41]. Core Viewpoints - The company introduces the "Big Retail" concept, focusing on brand, category, and channel to enhance its competitive edge. The strategy aims to capture market share in the growing home decoration materials market, which is estimated to exceed 40 trillion CNY, with over 60% being existing demand [1][9][10]. - The company expects to achieve net profits of 0.5 million CNY, 1.4 million CNY, and 1.8 million CNY for the years 2024 to 2026, respectively, indicating a solid growth foundation if real estate demand improves [1][41]. Summary by Sections 1. Big Retail: Innovation in Retail Business - The company has proposed the "Big Retail" concept, emphasizing a brand matrix and a comprehensive product and service system to drive growth [1][9]. - The brand strategy includes collaboration with RPM to enhance high-end market penetration and establish a multi-tiered brand matrix [1][10][15]. - The product strategy involves launching a "Seven-in-One" product and service system to meet diverse customer needs and improve operational efficiency [1][26][27]. 2. Financial Data and Valuation - The company's projected revenue for 2024 is 2,778.74 million CNY, with a decline of 10.66% from the previous year, followed by a recovery in 2025 with a growth of 3.44% [3]. - The expected EBITDA for 2024 is 287.31 million CNY, with a significant drop from 558.11 million CNY in 2023 [3]. - The net profit attributable to the parent company is forecasted to be 48.86 million CNY in 2024, reflecting a continued decline from 60.18 million CNY in 2023 [3]. 3. Channel Strategy - The company is establishing a sales channel model centered around "city agents," aiming to deepen distribution and enhance market penetration [1][33]. - The goal is to develop 300 city agents within three years and 3,000 retail stores over ten years, targeting a revenue scale of 30 billion CNY [1][37].

证券代码：603378 证券简称：亚士创能 公告编号：2024-076 （二）李金钟 亚士创能科技（上海）股份有限公司 关于控股股东及一致行动人减持股份比例达 1% 的权益变动提示性公告 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: 本次权益变动系亚士创能科技（上海）股份有限公司（以下简称"公司"） 控股股东及一致行动人实施减持计划所致，未触及要约收购。 本次权益变动不会导致公司控股股东及实际控制人发生变化。 本次权益变动后，控股股东上海创能明投资有限公司（以下简称"创能明"） 持有公司股份比例将从 26.49%减少至 25.49%，实际控制人李金钟先生持有公司 股份比例将从 6.31%减少至 6.30%。控股股东及其一致行动人持有公司股份比例 将从 63.93%减少至 62.92%。 公司于 2024 年 11 月 12 日收到控股股东创能明、实际控制人李金钟先生的 通知，2024 年 11 月 11 日、12 日，控股股东创能明、实际控制人李金钟先生通 过集中竞价交易方式减持公司股份 4,341,5 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 10.25 CNY, reflecting a 2.5x PB for 2024 [4][6]. Core Views - The company's Q3 performance shows significant pressure in the coatings segment, with a notable decline in revenue and profit, while the waterproof segment demonstrates strong growth [1][2]. - The overall gross margin for the first three quarters is 23.15%, down 9.29 percentage points year-on-year, indicating ongoing profitability challenges [3]. - The report highlights potential catalysts from real estate policies that could enhance market share through channel transformation and risk management [4]. Financial Performance Summary - For Q3, the company reported a net profit of 0.01 million CNY, a 98.72% decrease year-on-year, with total revenue of 6.82 million CNY, down 24.39% [1]. - The first three quarters saw total revenue of 17.24 million CNY, a decline of 27.79% year-on-year, with a net loss of 0.19 million CNY [1]. - The waterproof materials segment achieved a revenue increase of 40.3% year-on-year, contrasting with declines in the coatings segment [2]. - The gross margin for Q3 was 23.20%, reflecting a year-on-year decrease of 6.75 percentage points [3]. - The company’s asset-liability ratio improved to 74.94%, down 0.35 percentage points year-on-year, indicating a more optimized capital structure [3]. Revenue and Profit Forecast - The company’s projected net profits for 2024, 2025, and 2026 are 0.49 billion CNY, 1.44 billion CNY, and 1.82 billion CNY respectively, reflecting a downward revision from previous estimates [4][5]. - Revenue is expected to decline to 2.78 billion CNY in 2024, with a subsequent recovery projected in 2025 and 2026 [5][10]. Market Position and Strategy - The report notes that the industry remains fragmented, providing opportunities for the company to increase its market share through strategic channel changes and effective risk management [4]. - The anticipated recovery in the real estate sector, particularly from urban renewal projects, is expected to drive demand in the medium to long term [2].

证券代码：603378 证券简称：亚士创能 公告编号：2024-075 亚士创能科技（上海）股份有限公司 关于 2024 年 10 月份公司及 100%控股子公司 累计新增担保的公告 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个别及连带责任。 本次担保金额及已实际为其提供的担保余额：公司及全资子公司为亚士 漆提供的新增担保金额为 4,500 万元。截至本公告披露日，公司及全资子公司为 亚士漆提供的累计担保余额为 75,968.51 万元。 | 序号 | 担保人名称 | 被担保人名称 | 债权人名称 | 本次担保 金额（万 | 担保期间 | 担保 | 反担 保情 | 担保余额 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 方式 | | （万元） | | | | | | 元） | | | 况 | | | 1 | 亚士创能科技 （上海）股份 | 亚士漆（上海）有限 | 中国农业银 行上海长三 | 4,500.00 | 2024/10/30 - ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥681,801,616.23, a decrease of 24.39% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥534,632.33, reflecting a significant decline of 98.72% year-over-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥2,641,079.10, a decrease of 106.61% compared to the same period last year[2]. - The basic and diluted earnings per share for Q3 2024 were both ¥0.00, representing a 100% decrease compared to the same period last year[4]. - The net profit for Q3 2024 was -18,599,739.88 RMB, a significant decrease from the net profit of 80,977,617.37 RMB in Q3 2023, representing a year-over-year decline of approximately 123%[19]. - Basic and diluted earnings per share for Q3 2024 were both -0.04 RMB, compared to 0.19 RMB in Q3 2023, indicating a substantial drop in profitability[20]. - Total operating revenue for the first three quarters of 2024 was CNY 1,724,471,596.08, a decrease of 27.8% compared to CNY 2,388,294,816.67 in the same period of 2023[18]. - Operating profit for the first three quarters of 2024 was CNY -43,813,655.04, compared to a profit of CNY 96,340,665.29 in the same period of 2023[18]. - The company reported a total comprehensive income of -18,599,739.88 RMB for Q3 2024, compared to 80,977,617.37 RMB in Q3 2023, reflecting a decline of approximately 123%[19]. Cash Flow - The cash flow from operating activities for the year-to-date was -¥220,558,132.75, indicating a negative cash flow situation[2]. - Cash flow from operating activities for the first nine months of 2024 was -220,558,132.75 RMB, a decline from 65,529,424.90 RMB in the same period of 2023[20]. - The company experienced a decrease in cash inflow from operating activities, which totaled 1,960,992,523.20 RMB in the first nine months of 2024, down from 2,579,663,084.83 RMB in the same period of 2023, representing a decline of about 24%[20]. - Cash inflow from investment activities in the first nine months of 2024 was 56,631,614.19 RMB, compared to 13,557,131.85 RMB in the same period of 2023, showing an increase of about 318%[21]. - Cash outflow from investment activities for the first nine months of 2024 was 92,911,767.02 RMB, down from 216,493,271.35 RMB in the previous year, indicating a reduction of approximately 57%[21]. - Cash flow from financing activities for Q3 2024 was 97,326,389.82 RMB, compared to 4,281,765.90 RMB in Q3 2023, marking a significant increase[21]. - The total cash and cash equivalents at the end of Q3 2024 were 38,344,691.14 RMB, a decrease from 84,411,081.54 RMB at the end of Q3 2023[21]. Assets and Liabilities - Total assets at the end of Q3 2024 were ¥6,593,141,028.43, an increase of 2.93% from the end of the previous year[4]. - The equity attributable to shareholders decreased by 5.01% to ¥1,652,257,718.36 compared to the end of the previous year[4]. - Non-current assets totaled CNY 3,921,783,550.18, an increase of 7.4% from CNY 3,652,481,281.48 in the previous year[16]. - Current liabilities rose to CNY 4,187,945,159.46, compared to CNY 3,966,309,875.76 in the previous year, marking an increase of 5.6%[16]. - Total liabilities amounted to CNY 4,940,883,310.07, an increase from CNY 4,665,817,339.53, indicating a rise of 5.9%[16]. - Long-term borrowings increased to CNY 587,250,048.39 from CNY 543,478,187.32, reflecting a growth of 8.0%[16]. - The equity attributable to shareholders decreased to CNY 1,652,257,718.36 from CNY 1,739,340,130.49, a decline of 5.0%[16]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 17,197[9]. - The largest shareholder, Shanghai Chuangnengming Investment Co., Ltd., holds 113,535,000 shares, accounting for 26.49% of total shares[11]. - The company has a total of 65,160,000 shares pledged by the largest shareholder, indicating a significant level of leverage[9]. Legal Matters - The company is currently involved in several lawsuits, with a total amount in dispute of ¥48,293,488.94 across various cases[12]. - The company has reported a total of 30 litigation cases with amounts less than ¥3 million, totaling ¥12,348,409.80[12]. Operational Insights - The decline in net profit was primarily attributed to reduced sales volume and rising raw material costs[7]. - The company reported non-recurring gains of ¥4,950,247.59 from government subsidies during the quarter[5]. - The company has not disclosed any new product developments or market expansion strategies in the current report[12]. - The company reported a decrease in research and development expenses to CNY 53,791,279.95 from CNY 65,134,827.56, a reduction of 17.4%[18]. - Accounts receivable increased to ¥1,806,488,413.62 from ¥1,784,484,590.27, indicating a growth of approximately 1.14%[14]. - Inventory decreased significantly from ¥203,282,506.97 to ¥141,279,464.06, representing a decline of about 30.54%[14].

证券代码：603378 证券简称：亚士创能 公告编号：2024-073 亚士创能科技（上海）股份有限公司 2024 年第三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。 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》有关规定和披露要求，现将亚士创能科技（上海）股份有限公 司（以下简称"公司"）2024 年第三季度主要经营数据公告如下： 一、主要产品产量、销量及收入情况 2024 年 1-3 季度公司营业收入为 172,447.16 万元，其中主营业务收入为 167,420.97 万元，其他业务收入为 5,026.19 万元。 产品类别 产品种类 2024 年 1-9 月 产量 2024 年 1-9 月 销量 2024 年 1-9 月销售收入 （万元） 收入同期 增长幅度 功能型建 筑涂料 工程涂料（吨） 184,331.90 182,386.64 80,310.75 -39.18% 家装涂料（吨） 16,066.41 16,184.02 7,433.18 -28 ...

证券代码：603378 证券简称：亚士创能 公告编号：2024-071 二、监事会会议审议情况 经与会监事认真审议，会议表决通过了如下议案： （一）审议通过《关于公司 2024 年第三季度报告的议案》 具体详见公司在上海证券交易所网站（www.sse.com.cn）披露的《亚士创 能科技（上海）股份有限公司 2024 年第三季度报告》。 表决结果：同意 3 票、反对 0 票、弃权 0 票。 亚士创能科技（上海）股份有限公司 第五届监事会第七次会议决议公告 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、准确性和完整性承担个别及连带责任。 一、监事会会议召开情况 亚士创能科技（上海）股份有限公司(以下简称"公司")第五届监事会第七 次会议于 2024 年 10 月 29 日以现场结合通讯表决的方式召开。 会议通知及资料已于 2024 年 10 月 25 日以电话、电子邮件或专人送达的方 式发出。本次会议由监事会主席吴晓艳女士主持，应出席监事 3 名，实际出席监 事 3 名，本次会议的召集、召开符合《中华人民共和国公司法》和《公司章程》 的有关规定。 2024 ...

证券代码：603378 证券简称：亚士创能 公告编号：2024-070 亚士创能科技（上海）股份有限公司 第五届董事会第十次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 （一）审议通过《关于公司 2024 年第三季度报告的议案》 亚士创能科技（上海）股份有限公司(以下简称"公司")第五届董事会第十 次会议于 2024 年 10 月 29 日以现场结合通讯表决的方式召开。 会议通知及资料已于 2024 年 10 月 25 日以电话、电子邮件或专人送达的方 式发出。本次会议由董事长李金钟先生主持，应出席董事 7 名，实际出席董事 7 名，本次会议的召集、召开符合《中华人民共和国公司法》和《公司章程》的有 关规定。 二、董事会会议审议情况 经与会董事认真审议，会议表决通过了如下议案： 具体详见公司在上海证券交易所网站（www.sse.com.cn）披露的《亚士创 能科技（上海）股份有限公司 2024 年第三季度报告》。 表决结果：同意 7 票、反对 0 票、弃权 0 票。 特此公告。 亚 ...

证券代码：603378 证券简称：亚士创能 公告编号：2024-074 亚士创能科技（上海）股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2024 年 11 月 08 日(星期五)下午 14:00-15:00 会议召开地点：上海证券交易所上证路演中心 （网址 https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2024 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 （一）会议召开时间：2024 年 11 月 08 日下午 14:00-15:00 （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心网络互动 三、 参加人员 董事长、总经理：李金钟先生 董事会秘书：蔡永刚先生 投资者可于 2024 年 11 ...