明新旭腾新材料股份有限公司 2023 年年度股东大会会议资料 2023年年度股东大会 会 议 资 料 明新旭腾新材料股份有限公司 二〇二四年五月 | 明新旭腾新材料股份有限公司 | 2023 年年度股东大会会议须知 3 | | --- | --- | | 明新旭腾新材料股份有限公司 | 2023 年年度股东大会会议议程 4 | | 议案一 | 2023 年年度报告及摘要 7 | | 议案二 | 2023 年度董事会工作报告 8 | | 议案三 | 2023 年度监事会工作报告 15 | | 议案四 | 2023 年度公司财务决算报告 19 | | 议案五 | 2024 年度公司财务预算报告 23 | | 议案六 | 2023 年度利润分配方案 25 | | 议案七 | 关于使用闲置募集资金进行现金管理的议案 26 | | 议案八 | 关于使用闲置自有资金进行现金管理的议案 30 | | 议案九 | 关于续聘公司 2024 年度审计机构的议案 32 | | 议案十 | 关于 2024 年度对外担保额度预计的议案 35 | | 议案十一 | 关于 2024 年度向金融机构申请综合授信额度的议案 39 | | 议案 ...

证券代码：605068 证券简称：明新旭腾 公告编号：2024-049 转债代码：111004 转债简称：明新转债 明新旭腾新材料股份有限公司 关于使用部分闲置募集资金进行现金管理 到期赎回的进展公告 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。 华泰证券股份有限公司收益凭证于 2024 年 04 月 29 日到期，公司于 2024 年 04 月 30 日收回上述理财的本金 2,000 万元，并获得理财收益 66,849.32 元人 民币。中国建设银行股份有限公司两笔单位定期存款于 2024 年 05 月 06 日到期， 公司于当日收回上述理财的本金共计 7,000 万元，并获得理财收益 495,000 元人 民币。中国光大银行股份有限公司结构性存款于 2024 年 05 月 06 日到期，公司 于当日收回上述理财的本金 2,000 万元，并获得理财收益 84,044.44 元人民币。 本金及收益已及时归还至募集资金专户。 二、截至本公告日，公司最近十二个月使用募集资金委托理财的情况 单位：万元人民币 明新旭腾新材料股份有限 ...

Investment Rating - The report maintains a "Buy" rating with a target price adjusted to 19.44 CNY from the previous 29.00 CNY [22][25][28]. Core Insights - The company is experiencing a customer structure adjustment period, with weak performance reported in 2023. Revenue reached 910 million CNY, a year-on-year increase of 5.9%, while net profit decreased by 45.2% to 60 million CNY. The adjusted EPS for 2024-2025 is now forecasted at 0.72 CNY and 0.96 CNY, respectively, with a new 2026 EPS estimate of 1.27 CNY [11][25]. - The company has returned to a growth trajectory in Q1 2024, with revenue of 220 million CNY, a year-on-year increase of 50.3%, and net profit of 10 million CNY, up 329% [11][27]. - The company is expanding its new material applications and accelerating customer acquisition in the new energy sector, with a full order book and entering a release phase for orders [11][27]. Financial Performance Summary - In 2023, the company reported a revenue of 910 million CNY, with a net profit of 60 million CNY, reflecting a significant decline in profitability due to product structure adjustments. The gross margin was 26.1%, down 6.4 percentage points year-on-year [11][24]. - The Q1 2024 gross margin improved to 27.4%, an increase of 6.4 percentage points year-on-year, while the net margin was 5.8%, up 9.7% year-on-year [11][24]. - The company’s financial forecasts indicate a revenue growth rate of 33.6% for 2024, with a projected net profit of 117 million CNY, representing a 112.1% increase [24][25]. Market Position and Valuation - The company is positioned above the average valuation of comparable companies, with a 2024 PE ratio of 27 times, reflecting its business turning point and ongoing order releases [11][25]. - The stock has a market capitalization of 2.409 billion CNY, with a current price of 14.82 CNY, indicating potential upside based on the adjusted target price [22][30]. Product and Customer Development - The company is focusing on new product launches, with significant revenue growth in new materials such as ultra-fiber leather, which has the potential to replace traditional leather products [11][27]. - The company’s major client, Volkswagen Audi, has faced sales pressure, impacting the overall performance, but new product lines are expected to drive future growth [11][25].

第一创业证券承销保荐有限责任公司 关于明新旭腾新材料股份有限公司 持续督导保荐总结报告书 明新旭腾新材料股份有限公司（以下简称"公司""明新旭腾"或"发行人"） 经中国证券监督管理委员会证监许可〔2022〕327 号文核准于 2022 年 3 月 30 日公开 发行了 67.3 万手可转换公司债券，每张面值 100 元，发行总额 67,300.00 万元。第一 创业证券承销保荐有限责任公司（以下简称"保荐机构"或"一创投行"）担任公司 公开发行可转换公司债券的保荐机构，履行公司公开发行可转换公司债券后的持续督 导义务，持续督导期至 2023 年 12 月 31 日。 截至 2023 年 12 月 31 日，一创投行作为明新旭腾公开发行可转换公司债券的保 荐机构对明新旭腾持续督导期限已经届满。根据《证券发行上市保荐业务管理办法》、 《上海证券交易所上市公司自律监管指引第 11 号——持续督导》（2023 年 8 月修 订））和《上海证券交易所股票上市规则》（2023 年 8 月修订）等国家有关法律、 法规和规范性文件的要求，一创投行出具本保荐总结报告书。 一、保荐机构及保荐代表人承诺 1、保荐总结报告书和证明文 ...

Investment Rating - The report maintains a "Buy-A" rating for the company with a target price of 17.75 CNY per share over the next six months [7][15]. Core Insights - The company achieved a revenue of 9.06 billion CNY in 2023, representing a year-on-year growth of 5.87%, while the net profit attributable to shareholders was 0.55 billion CNY, down 45.21% year-on-year [12]. - In Q1 2024, the company reported a revenue of 2.24 billion CNY, a significant increase of 50.26% year-on-year, although it decreased by 19.76% quarter-on-quarter [3][12]. - The company is expected to experience high growth driven by four core factors: optimization of customer structure in the leather business, a decline in raw material prices, expansion into new materials, and globalization efforts [6][14][37]. Financial Performance Summary - The comprehensive gross margin for 2023 was 26.06%, a decrease of 6.43 percentage points year-on-year. The leather business gross margin was 29.8%, down 8.57 percentage points, while the synthetic leather gross margin improved to 4.7%, up 3.51 percentage points [2]. - The company’s operating expenses ratio for 2023 was 22.6%, an increase of 2.25 percentage points year-on-year, primarily due to increased financial expenses from convertible bond interest [2]. - The forecasted net profits for 2024, 2025, and 2026 are expected to be 1.2 billion CNY, 1.8 billion CNY, and 2.5 billion CNY, respectively, with corresponding P/E ratios of 20.9, 13.7, and 9.8 [7][28]. Business Development and Strategy - The company is actively expanding its customer base by targeting domestic brands and has successfully supplied to companies like Xiaopeng and Neta [6]. - The company is also diversifying its product offerings by developing new materials such as silicone leather and optimizing production processes to enhance profitability [18][37]. - The establishment of wholly-owned subsidiaries in Mexico and the USA is part of the company's strategy to globalize its operations, with plans for production to commence in 2024 [37].

Summary of the Conference Call Company and Industry Overview - The conference call discusses the financial performance of Mingxin Xuteng for the year 2023 and the first quarter of 2024, focusing on the automotive industry, particularly in the context of competition and product offerings [3][4]. Key Points and Arguments Financial Performance - The overall revenue for Q1 2024 showed a positive trend compared to Q4 2023, with a recovery in gross margin after a slight decline in Q4 due to year-end expenses [3][4]. - Q4 2023 gross margin was reported at 24.8%, reflecting a decrease of 3.39% from the previous quarter, primarily due to changes in product mix and increased competition [4][6]. - The gross margin for the first quarter of 2024 has stabilized and is showing an upward trend, reaching 26.5% [12][14]. Product Segmentation - The company reported that the revenue from genuine leather products was approximately 600 million, down from 560 million in 2022, indicating a decline in traditional vehicle orders [10][11]. - The lottery product segment saw significant growth, with revenue increasing from approximately 59 million in 2022 to 197 million in 2023, attributed to new energy vehicle clients [9][11]. - The gross margin for leather products was reported at 34.48%, while the gross margin for cut leather products was lower at 20.15%, impacting overall profitability [8][9]. Customer Structure and Market Dynamics - The top five customers in 2023 included FAW-Volkswagen (38%), SAIC-GM (17%), and several others, with new energy vehicle clients gaining a larger share [20][22]. - The customer structure is shifting, with traditional vehicle orders decreasing while new energy vehicle orders are increasing, leading to a more competitive landscape [20][22]. - The company anticipates that the revenue for 2024 will reach approximately 1.3 billion, with a quarterly estimate of around 354 million [36][38]. Cost Management and Profitability - The company is focusing on managing costs, with raw material prices showing a downward trend, which could positively impact gross margins in the future [14][38]. - R&D expenses are currently high at around 11% of revenue, but the company plans to reduce this to 6-8% in 2024 as new products are released [41][42]. International Expansion - The company is making significant progress in establishing a factory in Mexico, with all core equipment installed and trial production expected to start in April 2024 [42][43]. Other Important but Overlooked Content - The company highlighted the importance of adapting to the changing customer landscape, particularly with the rise of new energy vehicles, which require different supply chain strategies [12][14]. - There is a recognition of the volatility in profit margins due to external factors such as government subsidies and market competition, which could lead to fluctuations in quarterly profits [40][41]. - The company is also exploring new materials and production techniques to enhance product offerings and maintain competitive pricing [15][16].

2023 环境、社会及管治（ESG）报告 明新旭腾 ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT 2023 明新旭腾新材料股份有限公司 公司官网：www.mingxinleather.com 联系电话：0573-83286666 公司地址：中国浙江省嘉兴市南湖区大桥镇明新路188号 ： 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 报告前言 关于本报告 01 董事长致辞 03 报告综述 走进明新旭腾 ESG治理 05 13 责任专题 以绿为墨， 绘制生态创新设计蓝图 17 数智化工厂， 开启智能生产新纪元 25 | 党建引领 赋能企业发展 | | | - ...

公司代码：605068 公司简称：明新旭腾 转债代码：111004 转债简称：明新转债 明新旭腾新材料股份有限公司 2023 年度内部控制评价报告 明新旭腾新材料股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以下简称企业内部 控制规范体系），结合本公司（以下简称公司）内部控制制度和评价办法，在内部控制日常监督和专项 监督的基础上，我们对公司2023年12月31日（内部控制评价报告基准日）的内部控制有效性进行了评价。 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露内 部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责组织 领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存 在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法 律责任。 3. 是否发现非财务报告内部控制重大缺陷 □是 √否 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整，提 高经营效率和效果，促进实 ...

目 录 | | | | 二、附件…………………………………………………………第 | 3—7 | | 页 | | --- | --- | --- | --- | | （一）本所营业执照复印件………………………………… | 第 3 | 页 | | | （二）本所执业证书复印件………………………………… | 第 4 | 页 | | | （三）本所从事证券服务业务备案完备证明材料………… | 第 5 | 页 | | | （四）本所签字注册会计师执业证书复印件……………第 | 6—7 | 页 | | 内部控制审计报告 天健审〔2024〕3340 号 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。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于 情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低， 根据内部控制审计结果推测未来内部控制的有效性具有一定风险。 四、财务报告内部控制审计意见 我们认为，明新旭腾公司于 2023 年 12 月 31 日按照《企业内部控制基本规 第 1 ...

目 录 一、募集资金年度存放与使用情况鉴证报告…………………………………第 1―2 页 二、关于募集资金年度存放与使用情况的专项报告…………… 第 3—14 页 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.eov.cn） 三、附件 (一）本所营业执照复印件………………………………………………第 15 页 (二) 本所执业证书复印件……………………………………………第 16 页 (三) 本所从事证券服务业务备案完备证明材料………………第 17 页 (四) 本所注册会计师证书复印件…………………………………第 18—19 页 募集资金年度存放与使用情况鉴证报告 天健审〔2024〕3342 号 明新旭腾新材料股份有限公司全体股东: 我们鉴证了后附的明新旭腾新材料股份有限公司(以下简称明新旭腾公司) 管理层编制的 2023 年度《关于募集资金年度存放与使用情况的专项报告》。 一、对报告使用者和使用目的的限定 本鉴证报告仅供明新旭腾公司年度报告披露时使用,不得用作任何其他目的。 我们同意将本鉴证报告作为明新旭腾公司年度报告的必备文件,随同其他文件一 起报送并对外披露。 二、管 ...