上 市 公 司 基础化工 公 司 研 究/ 公 司 点 评 2024 年 10 月 25 日 确成股份 (605183) ——Q3 二氧化硅销量再创新高，盈利略受汇兑影响，福 建项目逐步贡献 证 券 研 究 报 告 | --- | --- | --- | |--------|-----------------------|------------------------------------| | | 市场数据： | 2024 年 10 月 24 日 | | | 收盘价（元） | 17.99 | | | 一年内最高/最低（元） | 20.09/9.81 | | 市净率 | | 2.5 | | | 息率（分红 / 股价） | 1.95 | | 流通 | A 股市值（百万元） | 7,482 | | | 上证指数 / 深证成指 | 3,280.26/10,441.75 | | | | 注："息率"以最近一年已公布分红计算 | | --- | --- | |------------------------------|-------------------------------| | 基础数据 : | 2024 ...

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证券代码：605183 证券简称：确成股份 公告编号：2024-056 2、主要原材料的价格变动情况 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。 本公司根据《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—化工的要求，现将 2024 年第三季度主要经营数据披露如下： 一、主要产品的产量、销量及收入实现情况 | 主要产品 | 2024 | 年 | 7-9 | 月 | 2024 | 年 | 7-9 月 | 2024 | 年 | 7-9 | 月 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 产量（吨） | | | | 销量（吨） | | | 销售金额（万元） | | | | | 二氧化硅 | 92,706.61 | | | | 91,393.86 | | | 55,557.87 | | | | 二、主要产品和原材料价格变动情况 1、主要产品的价格变动情况 2024 年第三季度：二氧化硅 ...

Revenue and Profit Growth - Revenue for the third quarter reached 563.23 million yuan, a year-on-year increase of 19.15%[2] - Net profit attributable to shareholders of the listed company was 117.47 million yuan, up 3.65% year-on-year[2] - Total revenue for the first three quarters of 2024 reached 1,634,403,758.72 RMB, a 23.6% increase compared to 1,322,704,667.90 RMB in the same period of 2023[13] - Net profit attributable to the parent company's shareholders increased to 1,797,013,235.83 RMB, up from 1,561,313,082.67 RMB in the previous year[12] - Net profit attributable to parent company shareholders reached 379.35 million yuan, up 24.3% year-over-year[15] - Sales revenue from goods and services reached 1.3 billion yuan, up 18.7% year-over-year[17] - Comprehensive income attributable to parent company shareholders reached 393.39 million yuan, up 29.7% year-over-year[16] Cash Flow and Liquidity - Operating cash flow for the first three quarters of 2024 was 409.69 million yuan, a significant increase of 57.50% compared to the same period last year[2] - Cash and cash equivalents stood at 542,482,590.05 RMB, a 14.2% increase compared to 474,965,575.77 RMB at the end of 2023[9] - Operating cash flow increased by 57.5% year-over-year to 409.69 million yuan[17] - Net increase in cash and cash equivalents was 64,863,350.28 thousand[18] - Ending balance of cash and cash equivalents was 539,494,526.05 thousand[18] Asset and Liability Management - Total assets as of the end of the reporting period were 3.63 billion yuan, an increase of 6.11% compared to the end of the previous year[3] - Equity attributable to shareholders of the listed company was 3.18 billion yuan, up 6.70% from the end of the previous year[3] - Total assets as of September 30, 2024, amounted to 3,626,443,903.76 RMB, a 6.1% increase from 3,417,657,241.20 RMB at the end of 2023[10] - Accounts receivable increased to 512,294,434.19 RMB, up 12% from 457,519,906.83 RMB in the previous year[10] - Inventory levels rose to 195,693,440.08 RMB, a 7.4% increase from 182,291,229.20 RMB at the end of 2023[10] - Fixed assets grew to 915,809,893.88 RMB, a 21.4% increase from 754,563,683.26 RMB in the previous year[10] - Total liabilities amounted to 447,816,420.93 RMB, a 2.1% increase from 438,424,078.39 RMB at the end of 2023[11] Earnings and Shareholder Metrics - Basic earnings per share for the third quarter were 0.28 yuan, a year-on-year increase of 3.70%[3] - Weighted average return on equity (ROE) for the first three quarters was 12.29%, an increase of 1.30 percentage points year-on-year[3] - Basic earnings per share increased to 0.91 yuan, up 24.7% year-over-year[16] - The number of ordinary shareholders at the end of the reporting period was 13,297[6] - The largest shareholder, Huawai International Development Co., Ltd., holds 59.59% of the company's shares[6] - The company's share repurchase program held 5,453,700 shares, representing 1.31% of total shares[8] Non-Recurring Items and Other Income - Non-recurring gains and losses for the first three quarters amounted to 10.38 million yuan, primarily due to government subsidies and investment income[4] - Interest income increased to 30.63 million yuan, up 1.3% year-over-year[15] - Investment income decreased to 7.27 million yuan, down 38.8% year-over-year[15] - Tax refunds received decreased to 22.79 million yuan, down 14.1% year-over-year[17] Operating Costs and Expenses - Operating costs for the first three quarters of 2024 were 1,207,389,916.87 RMB, a 19.8% increase compared to 1,008,220,981.36 RMB in the same period of 2023[13] - R&D expenses increased to 53.39 million yuan, up 24.7% year-over-year[15] - Cash paid for employee compensation increased to 100.78 million yuan, up 24.5% year-over-year[17] Investment and Financing Activities - Disposal of fixed assets, intangible assets, and other long-term assets generated a net cash inflow of 41,398.21 thousand[18] - Total cash inflow from investment activities was 1,200,216,200.69 thousand[18] - Cash outflow for the purchase and construction of fixed assets, intangible assets, and other long-term assets was 216,856,507.84 thousand[18] - Cash outflow for investments was 1,111,304,500.00 thousand[18] - Total cash outflow from investment activities was 1,328,874,671.84 thousand[18] - Net cash flow from financing activities was -209,091,881.77 thousand[18]

证券研究报告|公司动态点评 2024 年 09 月 18 日 确成股份（605183.SH） 产销量提升带动业绩增长，看好公司高端化产品布局 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------|-------|-------|------------------------------------------|----------| | | | | | | | | | | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（首次评级） | | | 营业收入（百万元） | 1,746 | 1,810 | 2,118 | 2,474 | 2,779 | 股票信息 | | | 增长率 yoy （ % ） | 16.2 | 3.7 | 17.0 | 16.8 | 12.3 | | | | 归母净利润（百万元） | 380 | 413 | 517 | 618 | 719 | 行业 | 基 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [1] Core Views - The company achieved a revenue of 1.071 billion yuan in the first half of 2024, representing a year-on-year increase of 26.02%. The net profit attributable to shareholders reached 262 million yuan, up 36.57% year-on-year [5] - The company plans to invest no more than 500 million yuan to build a microsphere project, aiming for commercialization [5] - The company has a strong demand for its products, with sales volume reaching a historical high, particularly in the silica market [5] Financial Performance - In Q2 2024, the company reported revenue of 548 million yuan, a year-on-year increase of 26.14% and a quarter-on-quarter increase of 4.94% [5] - The gross profit margin for the first half of 2024 was 32.79%, an increase of 7.22 percentage points year-on-year [5] - The company expects net profits for 2024-2026 to be 514 million, 600 million, and 686 million yuan respectively, with corresponding EPS of 1.24, 1.44, and 1.65 yuan [6] Market Position and Strategy - The company has established a strong customer base in the rubber industry, including major international tire manufacturers and rapidly growing Chinese tire companies [5] - The company is actively expanding into international markets, responding to strong demand for low-carbon, high-dispersion products [5] - The company’s sales volume for silica in Q2 2024 was 89,500 tons, a year-on-year increase of 22.4% [5] Product Pricing and Cost Structure - The average price of products in Q2 2024 increased by 2.34% year-on-year and 0.5% quarter-on-quarter [5] - The procurement price of key raw materials such as soda ash and quartz sand decreased by 22.95% and 5.37% year-on-year, respectively [5] Future Outlook - The company is expected to see significant revenue growth, with projected revenues of 2.225 billion, 2.517 billion, and 2.772 billion yuan for 2024, 2025, and 2026 respectively [7] - The company aims to improve its product structure by increasing the proportion of high-dispersion products [5]

证券代码：605183 证券简称：确成股份 公告编号：2024-054 确成硅化学股份有限公司 关于召开 2024 年半年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： （一） 会议召开时间：2024 年 09 月 20 日 下午 13:00-14:00 （二） 会议召开地点：上证路演中心 会议召开时间：2024 年 09 月 20 日(星期五) 下午 13:00-14:00 会议召开地点：上海证券交易所上证路演中心（网址： （三） 会议召开方式：上证路演中心网络互动 https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 09 月 11 日(星期三)至 09 月 19 日(星期四)16:00 前登录 上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@quechen.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 确成硅化学股份有限公司（以下简称"公司"）已于 2024 年 8 月 23 ...

证券代码：605183 证券简称：确成股份 公告编号：2024-053 确成硅化学股份有限公司 2024 年第二次临时股东会决议公告 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 (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 | 103 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 329,683,567 | | 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 | 80.3265 | | 份总数的比例（%） | | (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。 本次股东大会由公司董事会召集，会议由董事长阙伟东先生主持；会议采用 现场投票和网络投票相结合的方式进行表决；会议的召开和表决程序符合《公司 二、 议案审议情况 审议结果：通过 表决情况： 一、 会议召开和出席情况 (一) 股东大会召开的时间：2024 年 9 月 10 日 (二) 股东大会 ...

江苏世纪同仁律师事务所 关于确成硅化学股份有限公司 2024 年第二次临时股东会的 法 律 意 见 书 确成硅化学股份有限公司: 根据《中华人民共和国公司法》(以下简称"《公司法》")、《中华人民 共和国证券法》《上市公司股东大会规则》《上海证券交易所上市公司自律监管 指引第 1 号 -- 规范运作》等法律、法规和规范性文件以及《公司章程》的规定, 本所受公司董事会的委托,指派本所律师出席公司 2024年第二次临时股东会, 并就本次股东会的召集、召开程序、出席会议人员资格、召集人资格、表决程序 以及表决结果等事项的合法有效性出具法律意见。 为出具本法律意见书,本所律师对本次股东会所涉及的有关事项进行了审 查,查阅了相关会议文件,并对有关问题进行了必要的核查和验证。 本所律师同意将本法律意见书随公司本次股东会决议一并公告,并依法对本 法律意见书承担相应的责任。 本所律师根据相关法律、法规和规范性文件的要求,按照律师行业公认的业 务标准、道德规范和勤勉尽责精神,出具法律意见如下: 江苏世纪同 一、关于本次股东会的召集、召开程序 1、本次股东会的召集 本次股东会由董事会召集。2024年8月23日,公司在指定信息披露 ...

投资者关系活动记录表 确成硅化学股份有限公司 投资者关系活动记录表 | --- | --- | --- | |------------|--------------------------|------------------------------------------------------------| | | | | | | √ | 特定对象调研 □分析师会议 □媒体采访 | | 投资者关系 | √ | 业绩说明会 □新闻发布会 □路演活动 | | 活动类别 | □ | 现场参观 □一对一沟通 □其他 | | 接待时间 | 2024 年 8 月 | | | 接待地点 | 电话会议 | | | 接待人员 | 董事会秘书兼财务总监王今 | | | 接待对象 | | 上投摩根、大成基金、景顺长城、太平基金、鹏华基金、兴银基 | | | | 金、兴全基金、盛宇投资、横琴人寿、太平洋资产、安信证券、浦 | | | | 银安盛、建信养老、国海证券、森锦投资、峰岚资产、明泽投资、 | | | | 湘财基金、朱雀投资、精砚私募、光大证券、通和私募、前海云溪 | | | | 基金、泰康资产、恒越基金、诺安基金、玄元投 ...