重要内容提示： 证券代码： 605376 证券简称：博迁新材 公告编号：2025-023 江苏博迁新材料股份有限公司 关于全资子公司放弃参股公司增资优先认购权 暨关联交易的公告 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。 宁波广科新材料有限公司（以下简称"广科新材"）系江苏博迁新材料 股份有限公司（以下简称"公司"）全资子公司宁波广新纳米材料有限 公司（以下简称"广新纳米"）的参股公司，广科新材为加速其自身发 展建设，增强资本实力，提高抗风险能力和科研实力，计划进行增资扩 股，注册资本由 1052.63 万元增加至 1099.4136 万元。本次新增注册资 本 46.7836 万元由广科新材原有股东合肥夯邦锂创业投资合伙企业（有 限合伙）以 1455.20 万元认缴，其中 46.7836 万元计入实收资本，剩余 1408.4164 万元计入资本公积，广新纳米及其他原有股东将放弃本次对 广科新材的增资优先认购权。本次增资完成后，广新纳米持股比例由 19.0000%下降至 18.1915%。 广科新材系公司全资子公司的参 ...

博迁新材（605376）公告，2024年营业收入9.45亿元，同比增长37.22%。归属于上市公司股东的净利润 8747.59万元，同比增长370.73%。向全体股东每10股派发现金红利1.5元(含税)，共计拟派发现金红利 3924万元(含税)。本年度不送红股，不以资本公积转增股本。 ...

证券代码： 605376 证券简称：博迁新材 公告编号：2025-013 二、对外投资进展情况 近日，沪创医疗办理完成了本次投资涉及的工商变更登记手续，并取得了中国（上海）自由贸易试验区 临港新片区市场监督管理局出具的登记确认通知书。本次工商变更完成后，截止至本公告披露日，沪创 医疗最新股权结构如下： ■ 江苏博迁新材料股份有限公司 关于对外投资暨关联交易进展公告 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个别及连带责任。 一、对外投资暨关联交易概述 江苏博迁新材料股份有限公司（以下简称"公司"）公司于2024年12月20日召开第三届董事会第十六次会 议，审议通过了《关于公司对外投资暨关联交易的议案》，同意公司以自有或自筹资金5,250万元受让 丁文江先生持有沪创医疗科技（上海）有限公司（以下简称"沪创医疗"）6.4024%的股权，对应注册资 本98.0172万元；以自有或自筹资金2,250万元受让袁广银先生持有沪创医疗2.7439%的股权，对应注册 资本42.0074万元。交易完成后，公司将持有沪创医疗9.1463%的股权，对应注 ...

证券代码： 605376 证券简称：博迁新材 公告编号：2025-013 江苏博迁新材料股份有限公司 关于对外投资暨关联交易进展公告 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个别及连带责任。 一、对外投资暨关联交易概述 江苏博迁新材料股份有限公司（以下简称"公司"）公司于 2024 年 12 月 20 日召开第三届董事会第十六次会议，审议通过了《关于公司对外投资暨关联交易 的议案》，同意公司以自有或自筹资金 5,250 万元受让丁文江先生持有沪创医疗 科技（上海）有限公司（以下简称"沪创医疗"）6.4024%的股权，对应注册资本 98.0172 万元；以自有或自筹资金 2,250 万元受让袁广银先生持有沪创医疗 2.7439%的股权，对应注册资本 42.0074 万元。交易完成后，公司将持有沪创医疗 9.1463%的股权，对应注册资本 140.0246 万元。 二、对外投资进展情况 近日，沪创医疗办理完成了本次投资涉及的工商变更登记手续，并取得了中 国（上海）自由贸易试验区临港新片区市场监督管理局出具的登记确认通知书。 | 本次工 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the coming months [6]. Core Insights - The company is positioned as a leader in the domestic MLCC nickel powder market, benefiting from the recovery of the MLCC industry and the emerging trend of copper replacing silver in photovoltaic applications. The company's revenue and gross margin are expected to improve significantly in 2025, driven by increased nickel powder shipments and product structure enhancements [4][19]. Summary by Sections 1. MLCC Industry Recovery - The MLCC industry has experienced two complete cycles from 2017 to 2023, with a recovery point established at the end of 2023. The industry is expected to see significant growth in 2024, driven by replenishment demand and the high functionality development trend of AI application terminals [12][14]. - Global smartphone and PC shipments are projected to reach 1.239 billion and 262 million units in 2024, respectively, marking a year-on-year increase of 6.2% and 2.5%, the first positive growth in three years [12][14]. - AI server MLCC usage is expected to double compared to traditional servers, indicating a strong demand for high-temperature resistant high-end MLCCs [12][14]. 2. Photovoltaic Copper Paste Development - The photovoltaic industry is shifting towards using cheaper metals to replace precious metals, with copper paste emerging as a promising alternative. The global demand for silver in photovoltaics is expected to reach 6,577 tons in 2024, accounting for nearly 20% of total silver demand [29][30]. - The copper paste industry has accelerated its industrialization process since Q4 2024, with significant breakthroughs achieved through collaboration between paste manufacturers and downstream manufacturers [3][29]. - The company has established a core powder-making process for PVD and has achieved large-scale production of copper powder for MLCC applications, positioning itself to benefit from the copper replacement trend in photovoltaics [3][29]. 3. Financial Projections - The company's projected net profit for 2024, 2025, and 2026 is estimated at 90.10 million, 218.73 million, and 272.24 million yuan, respectively, reflecting a significant recovery in performance [4][5]. - Revenue is expected to grow from 688.91 million yuan in 2023 to 954.98 million yuan in 2024, representing a growth rate of 38.62% [5]. - The company's earnings per share (EPS) is projected to improve from -0.12 yuan in 2023 to 0.34 yuan in 2024, indicating a turnaround in profitability [5].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the coming months [6]. Core Insights - The company is positioned as a leader in the domestic MLCC nickel powder market, benefiting from the recovery of the MLCC industry and the emerging trend of copper replacing silver in photovoltaic applications. The company's revenue and gross margin are expected to improve significantly as it enhances its product structure and increases nickel powder shipments [4][19]. Summary by Sections 1. MLCC Industry Recovery - The MLCC industry has experienced two complete cycles from 2017 to 2023, with a recovery point established at the end of 2023. The industry is expected to see significant growth in 2024, driven by replenishment demand and the high functionality development trend of AI application terminals [12][14]. - Global smartphone and PC shipments are projected to reach 1.239 billion and 262 million units in 2024, respectively, marking year-on-year increases of 6.2% and 2.5%, the first positive growth in three years [12][14]. - AI server MLCC usage is expected to double compared to traditional servers, leading to increased demand for high-temperature resistant high-end MLCCs [12][14]. 2. Photovoltaic Copper Paste Development - The photovoltaic industry is shifting towards using cheaper metals to replace precious metals, with copper paste gaining traction as a promising alternative. The global demand for silver in photovoltaics is projected to reach 6,577 tons in 2024, accounting for nearly 20% of total silver demand [2][30]. - The company has made significant advancements in copper powder production and has positioned itself to benefit from the ongoing transition to copper in photovoltaic applications [3][29]. 3. Financial Projections - The company's projected net profit for 2024 is estimated at 90.10 million yuan, with further increases to 218.73 million yuan in 2025 and 272.24 million yuan in 2026. This reflects a recovery trajectory following a challenging period in 2022 and 2023 [4][5][19]. - The report indicates a revision in profit forecasts, lowering the 2024 estimate while raising those for 2025 and 2026, primarily due to anticipated growth in the MLCC sector and the copper replacement trend in photovoltaics [4][19].

股份变动性质：股份增加 签署日期：2025 年 3 月 3 日 - 1 - 信息披露义务人声明 江苏博迁新材料股份有限公司 简式权益变动报告书 上市公司名称：江苏博迁新材料股份有限公司 股票上市地点：上海证券交易所 股票简称：博迁新材 股票代码：605376 信息披露义务人：陈钢强 住所：浙江省宁波市鄞州区 通讯地址：浙江省宁波市鄞州区 三、依据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 收购管理办法》及《公开发行证券的公司信息披露内容与格式准则第 15 号—— 权益变动报告书》的规定，本报告书已全面披露了信息披露义务人在江苏博迁新 材料股份有限公司（以下简称"上市公司"、"公司"、"博迁新材"）中拥有 权益的股份变动情况。 四、截至本报告书签署日，除本报告书披露的持股信息外，信息披露义务人 没有通过任何其他方式增加或减少其在博迁新材中拥有权益的股份。 五、本次权益变动是根据本报告书所载明的资料进行的。信息披露义务人没 有委托或者授权其他任何人提供未在本报告书中列载的信息和对本报告书作出 任何解释或者说明。 六、信息披露义务人承诺本报告书不存在虚假记载、误导性陈述或重大遗漏， 并 对其真实性、 ...

证券研究报告 有色金属 报告日期：2025 年 02 月 28 日 高端 MLCC 镍粉放量，光伏无银化加速推进 ——博迁新材（605376.SH）点评报告 华龙证券研究所 最近一年走势 | 当前价格（元） | 41.81 | | --- | --- | | 52 周价格区间（元） | 17.76-42.85 | | 总市值（百万元） | 10,937.50 | | 流通市值（百万元） | 10,937.50 | | 总股本（万股） | 26,160.00 | | 流通股（万股） | 26,160.00 | | 近一月换手（%） | 55.69 | 点评报告 盈利预测简表 | 预测指标 | 2022A | 2023A | 2024E | 2025E | 2026E | | --- | --- | --- | --- | --- | --- | | 营业收入（百万元） | 747 | 689 | 948 | 1,338 | 1,581 | | 增长率（%） | -23.02 | -7.72 | 37.61 | 41.14 | 18.16 | | 归母净利润（百万元） | 153 | -32 | 86 | 276 ...

Company and Industry Summary Company Overview - The company is involved in the production of high-end flour and is expanding its product offerings, particularly in the AI server market, indicating a shift in demand from traditional consumer electronics to AI applications [1][6]. Key Points and Arguments - **Market Improvement**: There is a noticeable improvement expected in Q1, with a positive trend anticipated throughout the year, driven by sustained demand in the AI sector [1]. - **New Product Development**: The company is optimistic about new product releases, with expected validation results in Q2. However, specific details are under confidentiality agreements [3]. - **High-End Flour Demand**: The demand for high-end flour has increased significantly, particularly for AI server applications, which is expected to continue growing [6]. - **Production Capacity**: The company has reached full capacity for high-end flour production but is currently expanding its grading capacity to meet rising demand [5]. - **Investor Sentiment**: There is some concern regarding the timing of recent share reductions by investors, which occurred at a low point in the company's performance. This may reflect personal financial needs rather than company fundamentals [2][7]. - **Confidence in Business**: Management expresses confidence in both existing and new business lines, anticipating record performance in terms of revenue and application scenarios [7]. Additional Important Content - **Confidentiality in Client Relations**: The company is engaged in sensitive discussions with clients regarding new products, which limits the information that can be publicly shared [1][3]. - **Market Dynamics**: The shift in demand from consumer electronics to AI applications is a significant trend that the company is capitalizing on, indicating a broader industry movement towards AI integration [6]. - **Future Outlook**: The company aims to maintain a positive trajectory in performance and innovation, with expectations of achieving new highs in both revenue and application scenarios this year [7].

证券代码：605376 证券简称：博迁新材 公告编号：2025-012 江苏博迁新材料股份有限公司 关于持股 5%以上股东减持股份计划公告 求，众智聚成拟以集中竞价交易和大宗交易的方式减持公司股份，具体情况如下： 一、减持主体的基本情况 | 股东名称 | 股东身份 | 持股数量（股） | 持股比例 | 当前持股股份来源 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 宁波众智聚成创业投资 | 5%以上非第 | 22,029,000 | 8.42% | IPO 取 | 前 | 得 | ： | | 合伙企业（有限合伙） | 一大股东 | | | 22,029,000 股 | | | | 本公司董事会、全体董事及相关股东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： 2025 年 2 月 24 日，公司收到持股 5%以上股东众智聚成出具的《宁波众智聚 成创业投资合伙企业（有限合伙）关于股份减持计划的告知函》，因自身资金需 1 大股东持股的基本情况:截止至本减持计划披露 ...