江苏苏博特新材料股份有限公司 关于注销部分募集资金专户的公告 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。 一、 募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）证监许可[2022]1141 号文核准，公司于 2022 年 7 月 2 日公开发行了 800.00 万张可转换公司债券，每 张面值 100 元，发行总额 80,000 万元。经上海证券交易所自律监管决定书 [2022]196 号文同意，公司发行的 80,000.00 万元可转换公司债券于 2022 年 7 月 28 日在上海证券交易所挂牌交易。上述募集资金到位情况已由永拓会计师事 务所（特殊普通合伙）审验并出具了"永证验字[2022]第 210023 号"验资报告。 二、募集资金的存放和管理情况 为规范公司募集资金的管理和使用，保护投资者的权益，本公司依照《中华 人民共和国公司法》、《中华人民共和国证券法》、《上海证券交易所股票上市 规则》、《上海证券交易所上市公司募集资金管理办法》等法律法规，结合公司 实际情况，制定了《江苏苏博特新材料 ...

Investment Rating - The report maintains a "Recommended" rating for the company with a target price of 8.9 yuan [1]. Core Insights - The company experienced a revenue decline of 3.9% year-on-year in the first three quarters of 2024, totaling 2.476 billion yuan, while net profit attributable to shareholders fell by 44.43% to 79 million yuan [1]. - The decline in net profit is primarily attributed to a decrease in gross margin, which was 32.9% for Q1-Q3 2024, down 2.1 percentage points from the same period last year [1]. - The average procurement price of ethylene oxide increased by 5.63% compared to the previous year, further impacting gross margins [1]. Revenue Breakdown - High-performance water-reducing agents accounted for 53% of revenue, while functional materials saw a revenue increase of 29% year-on-year [2]. - Revenue from high-performance water-reducing agents was 1.304 billion yuan, down 12% year-on-year, with a sales volume of 740,000 tons, up 2% [2]. - Functional materials generated 463 million yuan in revenue, with a sales volume of 220,000 tons, up 19% year-on-year, driven by increased demand from the wind power sector [2]. Expense Analysis - The period expense ratio increased by 1.03 percentage points year-on-year to approximately 26.2% for Q1-Q3 2024 [3]. - The sales, management, R&D, and financial expense ratios were 11.2%, 8.6%, 4.7%, and 1.7%, respectively, with increases in sales and management expenses [3]. Financial Forecast - The company is projected to have earnings per share (EPS) of 0.28, 0.35, and 0.46 yuan for 2024, 2025, and 2026, respectively, with corresponding price-to-earnings (PE) ratios of 28x, 22x, and 17x [4]. - The forecasted total revenue for 2024 is 3.455 billion yuan, with a net profit of 122 million yuan, reflecting a year-on-year decline of 24.1% [4].

证券代码：6 0 3 9 1 6 证券简称：苏博特 公告编号：2 0 2 4 - 0 8 1 转债代码：113650 转债简称：博 22 转债 | 受托方 | | 产品名称 | 类型 | 理财金额 | 起算日 | 到期日 | 收益金额 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | （元） | | 交通银行 | | | 保本固 | | | | | | （南京）分 | 定期存单 | | 定收益 | 3,600 万元 | 2024.7.26 | 2024.10.26 | 135,200.00 | | 行 | | | 型 | | | | | 赎回理财产品名称：交通银行（南京）分行定期存单，浦发银行南京城 西支行协定存款，招商银行南京江宁支行协定存款，中信银行南京分行结 构性存款。 赎回理财产品金额：15,560 万元。 | 浦发银行南 | 协定存款 | 保本收 | 2,360 万元 | 2024.8.09 | 2024.10.25 | 51,109.52 | | --- | --- | --- | --- | --- | --- ...

Investment Rating - Investment rating: Buy (maintained) as of October 28, 2024 [1] Core Views - The report indicates that the demand for water-reducing agents is under pressure, but there is optimism for the company's performance recovery in the future [1] - The company has experienced a decline in performance in Q3 2024, with revenue of 2.476 billion yuan, a year-on-year decrease of 44.43% [1] - The report highlights the company's financial structure is expected to improve as the real estate market stabilizes and local government debt work continues [2] Financial Performance Summary - For Q3 2024, the company achieved revenue of 912 million yuan, a year-on-year decrease of 43.07%, and a net profit attributable to shareholders of 25 million yuan [1] - The average price of high-performance water-reducing agents decreased slightly by 4.33% to 1,704 yuan/ton in Q3 2024 [2] - The company's revenue forecast for 2024-2026 has been revised down, with expected net profits of 117 million yuan in 2024, 153 million yuan in 2025, and 204 million yuan in 2026 [1][4] Business Development Summary - The company is expanding its market share in transportation, energy, water conservancy, and military industries, with a steady increase in the revenue share of new products like functional materials [3] - The overseas business is growing rapidly, particularly in Southeast Asia and other regions along the Belt and Road Initiative, indicating strong growth potential [3]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 9.88 CNY, based on a 1x price-to-book ratio for 2024 [4][6]. Core Views - The company experienced a significant decline in net profit for Q3, with a year-on-year decrease of 43.07%, attributed to pressure on the prices of high-performance water-reducing agents, while functional materials showed continued growth [1][2]. - The company is expected to benefit from infrastructure projects in the western region of China, including participation in various large-scale projects, which may support future performance recovery [2][4]. Financial Performance Summary - For the first three quarters of 2024, the company reported revenues and net profit of 24.76 million CNY and 0.79 million CNY, respectively, representing year-on-year declines of 3.90% and 44.43% [1]. - The gross margin for the first three quarters was 32.89%, down 2.15 percentage points year-on-year, with a net margin of 5.72%, down 1.99 percentage points [3]. - The company’s operating cash flow improved, with a net cash flow of 2.15 million CNY for the first three quarters, an increase of 0.53 million CNY year-on-year [3]. Revenue Breakdown - Revenue from high-performance water-reducing agents, efficient water-reducing agents, and functional materials for the first three quarters was 13.0 million CNY, 0.35 million CNY, and 4.63 million CNY, respectively, with year-on-year changes of -12%, -55%, and +29% [2]. - In Q3 alone, the revenue for high-performance water-reducing agents was 4.89 million CNY, down 4% year-on-year, while functional materials saw a revenue increase of 35% year-on-year [2]. Market Outlook - The report highlights a positive outlook for functional materials driven by demand in wind power and other sectors, suggesting potential for long-term growth in anti-cracking waterproof materials and high-performance wind power grouting materials [2][4]. - The company is actively expanding its market presence in the western region, which is expected to provide additional growth opportunities as infrastructure projects progress [2][4].

Financial Performance - The company's operating revenue for Q3 2024 was ¥912,369,611.86, a decrease of 0.35% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2024 was ¥25,318,760.23, down 43.07% year-on-year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥20,860,326.12, a decline of 48.89% compared to the previous year[2] - Basic earnings per share for Q3 2024 were ¥0.06, a decrease of 45.45% year-on-year[4] - Total operating revenue for the first three quarters of 2024 was CNY 2,475,514,565.70, a decrease of 3.9% compared to CNY 2,576,037,095.35 in the same period of 2023[15] - Net profit for the third quarter of 2024 was CNY 141,657,470.95, a decline of 28.7% from CNY 198,713,179.18 in the same quarter of 2023[17] - The net profit attributable to shareholders of the parent company for Q3 2024 is ¥78,607,234.81, a decrease of 44.4% compared to ¥141,462,030.95 in Q3 2023[18] - The total comprehensive income for Q3 2024 is ¥140,251,313.00, down from ¥199,027,564.84 in Q3 2023, reflecting a decline of 29.5%[18] - The basic earnings per share for Q3 2024 is ¥0.18, compared to ¥0.34 in Q3 2023, indicating a decrease of 47.1%[18] Assets and Liabilities - Total assets at the end of Q3 2024 were ¥7,933,001,009.70, a decrease of 0.34% from the end of the previous year[4] - The company's total assets amounted to CNY 7,933,001,009.70, slightly down from CNY 7,960,202,591.74 at the end of the previous quarter[15] - Total liabilities decreased to CNY 3,154,002,076.73 from CNY 3,247,647,984.47, indicating a reduction of approximately 2.9%[15] - Non-current assets totaled CNY 3,060,521,176.75, an increase from CNY 3,029,195,507.66, representing a growth of 1.6%[15] Cash Flow - Cash flow from operating activities for the year-to-date was ¥215,062,262.56, an increase of 32.36%[2] - Cash inflows from operating activities for the first three quarters of 2024 amount to ¥2,600,302,362.70, down 8.9% from ¥2,855,290,921.23 in the same period of 2023[19] - The net cash flow from operating activities for the first three quarters of 2024 is ¥215,062,262.56, an increase of 32.3% compared to ¥162,481,881.03 in the first three quarters of 2023[19] - The cash outflow from investing activities for Q3 2024 is ¥1,294,135,662.83, significantly higher than ¥655,568,155.96 in Q3 2023[20] - The net cash flow from financing activities for Q3 2024 is -¥102,657,654.38, compared to a positive cash flow of ¥50,778,322.24 in Q3 2023[20] - The cash and cash equivalents at the end of Q3 2024 stand at ¥516,508,471.16, down from ¥762,936,165.94 at the end of Q3 2023, a decrease of 32.3%[20] Shareholder Information - The company reported a total of 20,353 common shareholders at the end of the reporting period[10] - The largest shareholder, Jiangsu Bote New Materials Co., Ltd., holds 37.70% of the shares, totaling 163.20 million shares[10] - The top ten shareholders collectively hold a significant portion of the company's equity, with the largest individual shareholder holding over 37%[10] Operational Metrics - The company experienced a decline in gross margin due to market environment impacts, contributing to the decrease in net profit[7] - The company's accounts receivable increased to approximately ¥2.79 billion, up 1.0% from ¥2.74 billion at the end of 2023[13] - The total current assets as of September 30, 2024, were approximately ¥4.87 billion, a slight decrease of 1.2% from ¥4.93 billion at the end of 2023[13] - The company's trading financial assets rose significantly to approximately ¥439.41 million, an increase of 58.8% from ¥276.57 million at the end of 2023[13] - The inventory level was approximately ¥461.19 million, showing a marginal increase of 1.6% from ¥453.47 million at the end of 2023[13] - The company's long-term equity investments were approximately ¥109.87 million, a slight decrease from ¥110.17 million at the end of 2023[13] - The fixed assets decreased to approximately ¥1.75 billion, down 5.7% from ¥1.86 billion at the end of 2023[13] - The company reported a decrease in research and development expenses to CNY 115,259,560.30 from CNY 123,771,956.48, a reduction of 6.9%[17] Revenue from Goods and Services - The company reported a decrease in sales revenue from goods and services received, totaling ¥2,445,346,846.73 for the first three quarters of 2024, down 9.5% from ¥2,703,401,373.47 in the same period of 2023[19]

华泰联合证券有限责任公司 关于江苏苏博特新材料股份有限公司 使用募集资金进行现金管理的核查意见 华泰联合证券有限责任公司（以下简称"保荐机构"、"华泰联合证券"）作为 江苏苏博特新材料股份有限公司（以下简称"苏博特"、"公司"）公开发行可转换 公司债券的保荐机构，根据《上海证券交易所股票上市规则》、《上市公司监管 指引第 2 号一上市公司募集资金管理和使用的监管要求》等相关规定，对苏博特 使用闲置募集资金进行现金管理事项进行了审慎核查，具体核查情况如下： 一、现金管理概况 （一）投资额度 公司用于购买理财产品的闲置募集资金总额不超过人民币 1.6 亿元（含）。 （一）现金管理目的 在不影响公司正常经营和保证资金安全的情况下，为提高资金使用效率，利 用公司闲置募集资金购买保本型现金管理产品，包括银行大额存单及结构性存款 等,以更好地实现公司现金的保值增值，保障公司股东的利益。 （二）资金来源及相关情况 1、资金来源：部分闲置募集资金 2、募集资金基本情况 经中国证券监督管理委员会出具的《关于核准江苏苏博特新材料股份有限公 司公开发行可转换公司债券的批复》（证监许可[2022]1141 号）核准，公司于 2022 ...

证券代码：6 0 3 9 1 6 证券简称：苏博特 公告编号：202 4 - 0 7 8 转债代码：113650 转债简称：博 22 转债 江苏苏博特新材料股份有限公司 一、报告期内主要产品的产量、销量及收入实现情况 2024 年 1-9 月公司主营业务收入和产销情况如下： | 主要产品 | 产量（万吨） | 销量（万吨） | 营业收入（万元） | | --- | --- | --- | --- | | 高性能减水剂 | 74.83 | 74.39 | 130,412.88 | | 高效减水剂 | 1.29 | 1.29 | 3,545.58 | | 功能性材料 | 21.96 | 21.72 | 46,318.76 | 二、报告期内主要产品和原材料的价格变动情况 （一）主要产品销售价格变动情况 高性能减水剂平均销售价格较上年同期下降 13.70%，高效减水剂平均销售 价格较上年同期上涨 30.20%，功能性产品平均销售价格较上年同期上涨 8.00%。 （二）主要原材料价格变动情况 关于 2024 年三季度经营数据的公告 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 ...

证券代码：6 0 3 9 1 6 证券简称：苏博特 公告编号：2 0 2 4 - 0 7 9 转债代码：113650 转债简称：博 22 转债 江苏苏博特新材料股份有限公司 关于使用闲置募集资金进行现金管理的公告 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： 一、现金管理概况 （一）现金管理目的 1、投资额度 公司用于购买理财产品的闲置募集资金总额不超过人民币 1.6 亿元（含）。 2、投资品种 公司将按照相关规定严格控制风险，闲置募集资金用于投资低风险的保本型 现金管理产品（包括银行大额存单、结构性存款等）。同时，应当满足安全性高， 保本要求，产品发行主体能够提供保本承诺，并且流动性好，不得影响募集资金 项目正常进行。上述理财产品不得用于质押。 在不影响公司正常经营和保证资金安全的情况下，为提高资金使用效率，利 用公司闲置募集资金购买保本型现金管理产品，包括银行大额存单、结构性存款 等,以更好地实现公司现金的保值增值，保障公司股东的利益。 （二）资金来源及相关情况 现金管理额度及期限：江苏苏博特新材料 ...

关于江苏苏博特新材料股份有限公司 部分募集资金投资项目结项并将结余募集资金永久补充流 动资金的核查意见 华泰联合证券有限责任公司 根据《管理制度》的要求，并结合公司经营需要，公司于 2022 年 7 月 14 日 与华泰联合证券有限责任公司及中国银行南京江宁支行营业部、上海浦东发展银 行南京分行城西支行、招商银行股份有限公司南京分行、中信银行股份有限公司 南京分行、交通银行股份有限公司江苏省分行签署《募集资金专户存储三方监管 协议》以及《募集资金专户存储四方监管协议》。公司严格按《募集资金专户存 储三方监管协议》、《募集资金专户存储四方监管协议》的要求来管理、使用募 集资金。 三、募集资金的使用情况 | 项目名称 | 拟使用募集资金投 资额（万元） | 实际用募集资金 投资额（万元） | | --- | --- | --- | | 年产 37 万吨高性能土木工程材料产业化基地项目 | 17,500.00 | 12,794.07 | | 苏博特高性能土木工程新材料建设项目（一期） | 19,000.00 | 15,166.74 | | 高性能建筑高分子材料产业化基地项目（一期） | 11,200.00 | 8, ...