Group 1 - The company will implement a profit distribution plan, distributing a cash dividend of 5.0 yuan per 10 shares to all shareholders, with no bonus shares or capital reserve conversion [2][3] - The distribution plan was approved at the 2024 annual general meeting on May 8, 2025, and will be based on the total share capital as of the record date, excluding shares in the company's repurchase account [2][3] - The convertible bonds will stop conversion from May 26, 2025, until the record date for the profit distribution, and will resume conversion on the first trading day after the record date [4] Group 2 - The company will announce the implementation details of the profit distribution and the adjustment of the convertible bond conversion price on May 27, 2025 [4] - Holders of the convertible bonds wishing to enjoy the profit distribution must convert their bonds by May 23, 2025 [4] - The company has provided contact information for inquiries regarding the announcement [4]

重要内容提示： | 证券代码：603650 | 证券简称：彤程新材 | 公告编号：2025-038 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司 关于实施 2024 年年度权益分派时"彤程转债"停止转 股暨转股价格调整的提示性公告 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法律责任。 （一）公司将于 2025 年 5 月 27 日在指定媒体披露有关本次权益分派的实施 公告和可转债转股价格调整公告。 （二）自 2025 年 5 月 26 日至本次权益分派股权登记日期间，"彤程转债"将 停止转股，本次权益分派股权登记日后的第一个交易日起，"彤程转债"将恢复转股， 欲享受权益分派的"彤程转债"持有人可在 2025 年 5 月 23 日（含 2025 年 5 月 23 日）之前进行转股。 三、其他 证券停复牌情况：适用 因实施权益分派, 权益分派实施公告前一交易日（2025 年 5 月 26 日）至权益分派 股权登记日间，彤程新材料集团股份有限公司（以下简 ...

Core Insights - The company reported Q1 2025 revenue of 860 million yuan, a year-on-year increase of 9.4% and a quarter-on-quarter increase of 1.3% [1] - The net profit attributable to shareholders reached 160 million yuan, reflecting a year-on-year growth of 10.9% and a significant quarter-on-quarter increase of 104.8% [1] - The company achieved a net profit excluding non-recurring items of 160 million yuan, with a year-on-year increase of 88.8% and a quarter-on-quarter increase of 149.6% [1] Sales Performance - The sales scale improved significantly in Q1 2025, with electronic chemicals' average selling price rising [2] - The company saw growth in sales volume for special rubber additives, electronic chemicals, and fully biodegradable materials, with respective volumes of 39,949 tons, 4,026 tons, and 4,720 tons, showing year-on-year increases of 4.8%, 9.6%, and 76.3% [2] - The average selling prices for special rubber additives, electronic chemicals, and fully biodegradable materials were 15,044 yuan/ton, 52,349 yuan/ton, and 8,942 yuan/ton, with year-on-year changes of -4.0%, +23.4%, and -17.6% respectively [2] Investment Gains - The company reported investment income of 100 million yuan from joint ventures and associates, with a quarter-on-quarter increase of 60 million yuan and a year-on-year increase of 70 million yuan [2] - The gross margin for Q1 2025 was 25.2%, reflecting a year-on-year increase of 0.4 percentage points and a quarter-on-quarter increase of 2.1 percentage points [2] - The net margin was 19.2%, with a year-on-year increase of 0.3 percentage points and a quarter-on-quarter increase of 9.5 percentage points [2] R&D and Product Development - The company invested 220 million yuan in R&D in 2024, a year-on-year increase of 20.5%, accounting for 6.6% of revenue [3] - New product sales accounted for 43% of total sales, with the top eight new products contributing 80% of sales revenue [3] - The company successfully commercialized certain self-developed resin products for photoresists, enhancing product competitiveness [3] Production Capacity Expansion - The company completed the preparation for mass production of organic insulating films, with projects entering the production phase [4] - The annual production capacity includes 11,000 tons of semiconductor and flat panel display photoresists and 20,000 tons of related supporting agents, with some projects already in production [4] - The semiconductor chip polishing pad project has been completed and is set to enter trial production by the end of December 2024, with ongoing acceptance work for some projects [4]

| 股票代码：603650 | 股票简称：彤程新材 | 编号：2025-036 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司 关于年度预计融资担保进展的公告 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 ●担保人名称：彤程新材料集团股份有限公司（以下简称"公司"或"彤程新材"）、 彤程化学（中国）有限公司（以下简称"彤程化学"） ●被担保人名称：华奇（中国）化工有限公司（以下简称"华奇化工"）、上海彤 程电子材料有限公司（以下简称"彤程电子"） ●是否为上市公司关联人：否 ●本次担保金额及已实际为其提供的担保余额：公司本次为华奇化工提供的担保 金额为人民币 1 亿元，公司实际为华奇化工提供的担保余额为 10,000 万元；彤程化学 本次为华奇化工提供的担保金额为人民币 8,000 万元，彤程化学实际为华奇化工提供 的担保余额为 6,000 万元；公司本次为彤程电子提供的担保金额为 6,000 万元，公司 实际为彤程电子提供的担 ...

| 证券代码：603650 | 证券简称：彤程新材 | 公告编号：2025-037 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程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 8 日 (二)股东大会召开的地点：中国上海市浦东新区银城中路 501 号上海中心大厦 25 层 2501 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 | 340 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 407,447,657 | | 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 | | | 份总数的比例（%） | 68.3642 | (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 ...

上海市锦天城律师事务所 关于彤程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 锦 天 城 律师事务 所 ALLBRIGHT LAW OFFICES 地址:上海市浦东新区银城中路 501 号上海中心 11、12 层 电话: 021-20511000 传真: 021-20511999 邮编: 200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于彤程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:彤程新材料集团股份有限公司 上海市锦天城律师事务所(以下简称"本所")接受彤程新材料集团股份有 限公司(以下简称"公司")委托,就公司召开2024年年度股东大会(以下简 称"本次股东大会")的有关事宜,根据《中华人民共和国公司法》(以下简称 "《公司法》")《上市公司股东会规则》等法律、法规和其他规范性文件以及 《彤程新材料集团股份有限公司章程》(以下简称"《公司章程》")的有关规 定,出具本法律意见书。 为出具本法律意见书,本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则(试行)》等规定,严格履行 了法定职责,遵循了 ...

丨证券研究报告丨 公司研究丨点评报告丨彤程新材（603650.SH） [Table_Title] 业绩稳步增长，电子材料有望持续放量 报告要点 [Table_Summary] 公司发布 2025 一季报，实现收入 8.6 亿元（同比+9.4%，环比+1.3%），实现归属净利润 1.6 亿 元（同比+10.9%，环比+104.8%），实现归属扣非净利润 1.6 亿元（同比+88.8%，环比+149.6%）。 2025Q1 公司毛利率为 25.2%，同比+0.4pct，环比+2.1pct；净利率为 19.2%，同比+0.3pct， 环比+9.5pct。 分析师及联系人 [Table_Author] 马太 SAC：S0490516100002 SFC：BUT911 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 风险提示 [Table_Summary2] 事件描述 彤程新材（603650.SH） cjzqdt11111 公司发布 2025 一季报，实现收入 8.6 亿元（同比+9.4%，环比+1.3%），实现归属净利润 1.6 亿元（同比+10.9%，环比+104.8 ...

彤程新材（603650.SH）2025 年一季报点评 一季度业绩稳健增长，半导体光刻胶加速放量 2025 年 05 月 06 日 ➢ 事件：4 月 29 日，彤程新材发布 2025 年一季报，公司 25Q1 实现收入 8.56 亿元，同比增长 9.41%；实现归母净利润 1.60 亿元，同比增长 10.92%；销售毛 利率 25.21%，同比+0.4pct，环比+2.1pct；销售净利率 19.20%，同比+0.32pct， 环比+9.55pct。 ➢ 电子业务增速强势助力业绩新高。公司电子化学板块增长迅速，受益于国际 贸易摩擦，关键材料自主可控需求持续加速，公司巩固并拓展了半导体光刻胶与 显示光刻胶协同发展的竞争优势，24 年业务收入 7.46 亿元，同比增长 32.63%。 并助力公司 2024 年实现总收入 32.70 亿元，同比增长 11.10%，业绩创新高。 ➢ 半导体光刻胶动能电子业务增长。公司半导体光刻胶产品近年来持续突破并 逐步成为业绩增长核心动能，24 年实现营业收入 3.03 亿元，同比大增 50.43%。 其中，化学放大 I 线光刻胶呈现高增长态势，同比增长 185%；KrF 光刻胶同比 ...

[Table_Stock] 彤程新材（603650） 电子材料业务实现高增，看好光刻胶进 一步放量 ——彤程新材 2024 年报&2025Q1 点评 事件概述 公司发布2024年报及2025Q1季报：2024年公司实现营业收入32.70亿 元，同比增长11.10%，再创历史新高；实现归母净利润5.17亿元，同比 增长27.10%；扣非归母净利润4.16亿元，同比增长7.64%。公司净利润同 比大幅增长，主要系主营业务能力增加，以及联营企业产生收益。其中， 公司联营企业和合营企业的2024年投资收益为3.14亿元。 2025Q1，公司实现营收8.56亿，同比增长9.41%；实现归母净利润1.60 亿，同比增长10.92%。 分析与判断 24 年电子材料业务营收超 7 亿，光刻胶业务实现进一步放量。2024 年公 司电子材料业务实现营收 7.45 亿元，同比增长 34.43%，24 年营收占比 提升至 20%以上。分项目看： 1）半导体光刻胶业务，实现营业收入3.03亿元，同比增长50.43%。其 中，I线光刻胶同比增长61%，KrF光刻胶同比增长69%；ArF光刻胶已经 通过客户验证并陆续上量产生收益，EBR产 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - The company reported a revenue of 3.27 billion yuan for 2024, representing a year-on-year increase of 11.1%. The net profit attributable to shareholders was 520 million yuan, up 27.1% year-on-year, and the net profit after deducting non-recurring gains and losses was 420 million yuan, an increase of 7.6% year-on-year. In Q4 alone, the revenue was 850 million yuan, showing a year-on-year growth of 13.0% but a slight decline of 0.4% compared to the previous quarter. The net profit for Q4 was 80 million yuan, up 38.1% year-on-year but down 37.7% quarter-on-quarter. The company plans to distribute a cash dividend of 5 yuan for every 10 shares, totaling 300 million yuan [5][6][10]. Financial Performance - In 2024, the electronic materials segment achieved sales revenue of 740 million yuan, a year-on-year increase of 34.4%. The semiconductor photoresist business generated 300 million yuan in revenue, up 50.4% year-on-year. The sales of I-line photoresist products grew by 61%, while KrF photoresist products increased by 69%. The chemical amplified I-line (ICA) photoresist saw a remarkable growth of 185% year-on-year. The display materials segment, under the subsidiary Beixu Electronics, achieved revenue of 330 million yuan, a 26.8% increase year-on-year, with a market share of approximately 27.1% in the domestic market [10][11]. R&D and New Projects - The company maintained a high level of R&D investment, with expenditures reaching 220 million yuan in 2024, a 20.5% increase year-on-year, accounting for 6.6% of total revenue. New product sales accounted for 43% of total sales, with the top eight new products contributing 80% of the revenue. The company successfully localized the production of OLED photoresist, overcoming technical bottlenecks, and developed products suitable for G4.5 to G6 generation lines [10][11]. Future Outlook - Several projects are entering the production phase, which is expected to drive revenue growth. The annual production capacity for semiconductor and flat panel display photoresists is set at 11,000 tons, with 20,000 tons of related supporting reagents. The semiconductor chip polishing pad project has been completed and is expected to enter trial production by the end of December 2024 [10][11]. Profitability - The gross margin for the rubber additive business reached 26.0%, an increase of 0.8 percentage points year-on-year, while the electronic materials business gross margin was 29.8%, up 3.5 percentage points year-on-year, indicating sustained profitability growth [10][11]. Earnings Forecast - The company is projected to achieve net profits of 550 million yuan, 640 million yuan, and 750 million yuan for the years 2025 to 2027, respectively, maintaining a "Buy" rating [10][11].