2024 年第四次临时股东大会 会议资料 2024 年 9 月 2 日 杭州华旺新材料科技股份有限公司 2024 年第四次临时股东大会会议资料 目 录 证券代码：605377 证券简称：华旺科技 杭州华旺新材料科技股份有限公司 三、股东及股东代理人依法享有发言权、质询权、表决权等权利。要求发言 的股东及股东代理人，应于会议开始前 15 分钟向公司会务人员进行登记，出示 有效的持股证明，填写《发言登记表》；登记发言的人数原则上以十人为限，超 过十人时安排持股数最多的前十名股东依次发言；股东及股东代理人发言应围绕 本次股东大会的议题进行，简明扼要，时间不超过 5 分钟。 四、主持人可安排公司董事和高级管理人员回答股东所提问题，对于可能将 泄露公司商业秘密及/或内幕信息，损害公司、股东共同利益的提问，主持人或其 指定的有关人员有权拒绝回答。 五、出席股东大会的股东及股东代理人，对于非累积投票的议案，应当对 提交表决的议案发表如下意见之一：同意、反对或弃权，并以打"√"表示。 出席现场会议的股东及股东代表务必在表决票上签署股东名称或姓名。未填、 错填、字迹无法辨认的表决票、未投的表决票均视为投票人放弃表决权利，其 所 ...

利润端符合预期，首次进行中期分红 华旺科技(605377)/轻工制造 证券研究报告/公司点评 2024 年 08 月 16 日 [Table_Industry] | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------- ...

Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price of 17.9 CNY per share, compared to the current price of 11.94 CNY [1]. Core Insights - The company's performance in the first half of 2024 met expectations, with revenue, net profit attributable to shareholders, and net profit excluding non-recurring items reaching 1.95 billion, 300 million, and 270 million CNY respectively, showing year-on-year growth of 4.6%, 28.1%, and 24.5% [1]. - The company focuses on the mid-to-high-end decorative paper market, with stable performance in its decorative paper and wood pulp trading businesses, achieving revenues of 1.54 billion and 380 million CNY respectively in the first half of 2024 [1]. - The company has established long-term partnerships with many well-known foreign printing factories, leading to a steady increase in overseas market share, with domestic and foreign revenues of 1.53 billion and 420 million CNY respectively in the first half of 2024 [1]. - The company’s gross profit margin for the first half of 2024 was 18.6%, an increase of 2.2 percentage points year-on-year, while the net profit margin attributable to shareholders increased by 2.8 percentage points to 15.5% [1]. - The impact of the European anti-dumping investigation is expected to be limited, as the company's sales in the EU region accounted for less than 5% of total sales [1]. - The company has a high dividend payout, distributing 4.2 CNY per 10 shares, corresponding to a mid-term dividend rate of 64.5% [1]. - The company is actively expanding into overseas markets and diversifying its product offerings, including high-quality food paper and medical-grade paper, which are expected to drive long-term growth [1]. Financial Summary - For 2024, the company is projected to achieve revenues of 4.495 billion CNY, with a year-on-year growth rate of 13.0%, and a net profit of 628 million CNY, reflecting an 11.0% increase [2]. - The earnings per share (EPS) is expected to be 1.35 CNY in 2024, with a price-to-earnings (P/E) ratio of 9 [2]. - The company’s total assets are projected to reach 7.08 billion CNY by 2024, with a debt-to-equity ratio of 11.2% [6].

证 券 研 究 报 告 华旺科技（605377）2024 年中报点评 强推（维持） 业绩表现符合预期，高分红凸显长期价值 目标价：17.9 元 当前价：11.94 元 事项： 公司公布 2024 年中报。24H1 公司实现营收/归母净利润/扣非归母净利润 19.5/3.0/2.7 亿元，YoY+4.6%/+28.1%/+24.5%；24Q2 实现营收/归母净利润/扣 非归母净利润 9.9/1.6/1.3 亿元，YoY+5.0%/+20.9%/+4.5%，业绩落入预告区间。 评论： 装饰原纸表现稳健，海外市场延续增长。公司专注于中高端装饰原纸领域，生 产和研发能力领先，市场份额稳步提升；上半年公司装饰原纸/木浆贸易业务 分别实现营收 15.4/3.8 亿，同比+6.1%/-0.8%。分区域看，公司已经与众多国外 知名印刷厂建立长期合作关系，并持续加大海外市场开拓力度，外销份额稳步 提升，24H1 国内/国外分别实现营收 15.3/4.2 亿，同比+3.5%/+8.6%，营收占比 78.4%/21.6%。 Q2 盈利能力阶段性承压，费用率基本保持平稳。1）24H1，公司实现毛利率 18.6%，同比+2.2pcts ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price indicating a potential return of over 20% within the next six months [5][14]. Core Insights - The company reported a revenue of 990 million in Q2 2024, a year-on-year increase of 5%, and a net profit attributable to the parent company of 160 million, up 21% year-on-year [1]. - For the first half of 2024, the company achieved a revenue of 1.95 billion, a 4.6% increase year-on-year, and a net profit of 300 million, reflecting a 28% year-on-year growth [1]. - The company plans to distribute a dividend of 190 million for the mid-year, with a payout ratio of 64.5%, suggesting a projected dividend yield of 7% for 2024 [1]. - The company is focused on high-end decorative paper production, leveraging its customer resource advantages and product quality to maintain market leadership [2]. - The company is expanding its production capacity, particularly with the second phase of its 18wt specialty paper production line, which is expected to enhance both domestic and international sales [2]. Financial Performance Summary - In Q2 2024, the company's gross margin was 17.2%, a decrease of 1.6 percentage points year-on-year, while the net profit margin increased to 15.6%, up 2 percentage points year-on-year [3]. - The report forecasts a decrease in profit estimates for 2024-2026, with net profits projected at 630 million, 700 million, and 800 million respectively, down from previous estimates [4]. - The company’s revenue is expected to grow from 4.44 billion in 2024 to 5.53 billion in 2026, with corresponding net profit growth rates of 10.73% and 14.10% [4][10]. Market Position and Strategy - The company continues to enhance its market share in the high-end decorative paper segment, demonstrating strong consumer influence and market leadership [2]. - The company is actively responding to the EU's anti-dumping investigations, with limited short-term impact on shipments but significant medium-term export potential [2]. - The report highlights the company's effective cost control and product development capabilities, which are expected to improve profitability in the medium term despite current cost pressures [3].

FOR MORE INFORMATION PLEASE CONTACT US HANGZHOU HUAWANG NEW MATERIAL TECHNOLOGY CO., LTD. NO.18 BINHE NORTH RD, QINGSHANHU STREET, LINAN, HANGZHOU, ZHEJIANG, CHINA 杭州华旺新材料科技股份有限公司 浙江省杭州市临安区青山湖街道滨河北路18号 311305 Tel (电话) +86-571-63750969(证券事务部) www.hwpaper.cn 更多信息 请联系我们 2023 杭州华旺新材料科技股份有限公司 环境、社会及管治 (ESG) 报告 目 录 CONTENTS 员工为本促和谐 安全公益共辉煌 014 63 | 构建华旺团队 | .. 65 | | --- | --- | | 助力员工成长 | . 72 | | 守护健康安全 | THE OWN ANY BEL ENE ONE ONE ONE NOT DEL ENT DE ENT DES DEC ENT DE ENT DE ENT DE FOR ENT DE FOR ENT DE FOR E ...

Financial Performance - The company's operating revenue for the first half of 2024 reached ¥1,946,554,962.79, representing a 4.59% increase compared to ¥1,861,111,740.86 in the same period last year[14]. - The net profit attributable to shareholders for the first half of 2024 was ¥302,151,574.87, a 28.06% increase from ¥235,948,168.55 in the previous year[14]. - The basic earnings per share for the first half of 2024 was ¥0.65, up 27.45% from ¥0.51 in the same period last year[15]. - The diluted earnings per share increased to ¥0.66, reflecting a 29.41% rise compared to the previous year's ¥0.51[15]. - The weighted average return on net assets for the first half of 2024 was 7.25%, an increase of 0.87 percentage points from 6.38% in the previous year[15]. - The company achieved operating revenue of RMB 1,946,554,962.79, representing a year-on-year growth of 4.59%[36]. - The net profit attributable to shareholders reached RMB 30,215,16, marking a significant increase of 28.06% compared to the previous year[32]. - The company reported a total comprehensive income of CNY 302,153,122.97 for the current period, compared to CNY 236,101,182.43 in the previous period, an increase of 27.9%[101]. Cash Flow and Assets - The net cash flow from operating activities increased by 103.68% to ¥176,939,877.98, primarily due to higher cash received from sales of goods and services[16]. - Cash and cash equivalents at the end of the period amounted to ¥1,779,373,023.08, accounting for 31.30% of total assets, a decrease of 22.45% from the previous year[37]. - Accounts receivable increased by 125.20% to ¥762,456,607.83, representing 13.41% of total assets, due to increased operating income and weaker collection efforts compared to year-end[37]. - The company’s inventory stood at ¥977,971,021.07, accounting for 17.20% of total assets, showing a slight decrease of 0.08% from the previous year[37]. - The total assets of the company amounted to RMB 568,425,51, while the net assets attributable to shareholders were RMB 398,199,52[32]. - The total amount of restricted assets was ¥385,052,060.82, including cash and accounts receivable financing[39]. - The company reported a total cash and cash equivalents balance of 1,735,334,541.48 RMB at the end of the first half of 2024, down from 2,065,090,107.08 RMB at the end of the previous year[105]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of ¥4.20 per 10 shares, totaling approximately ¥194,848,999.80, which accounts for 64.49% of the net profit attributable to shareholders[3]. - The total share capital of the company as of August 15, 2024, is 464,739,230 shares, after deducting 813,040 shares held in the repurchase special securities account[53]. - The company completed the repurchase and cancellation of 19,450 shares of restricted stock under the equity incentive plan on March 15, 2024[54]. - The company held its annual general meeting on May 20, 2024, where it approved the election of new non-independent directors and non-employee representative supervisors[52]. - The company has a total of 895,265 restricted shares that will be released for trading on July 23, 2024, following the completion of the annual equity distribution[90]. Market Position and Strategy - The company operates in the specialty paper manufacturing sector, focusing on decorative base paper, which is a high-tech and high-value-added product[18]. - The company has established itself as a leader in the decorative base paper industry, with over 500 varieties of products and advanced production lines in Hangzhou and Ma'anshan[21]. - The company emphasizes a "smart manufacturing + service" business model, focusing on customized production to enhance market share in the mid-to-high-end segment[25]. - The international market for decorative base paper is expanding, with Chinese manufacturers gaining competitive advantages due to product quality stability[19]. - The company is committed to green low-carbon strategies, aiming to become a resource-saving and environmentally friendly industry model[25]. Research and Development - Research and development expenses increased by 27.89% to RMB 59,544,233.88, reflecting the company's commitment to innovation[36]. - The company plans to enhance its research and development efforts in the paper industry, focusing on innovative materials and production techniques[119]. Environmental Compliance - The company’s wastewater treatment center has a designed capacity of 20,000 tons per day, with an actual treatment volume of approximately 6,000 tons per day, ensuring compliance with environmental standards[61][62]. - The company has established a 24-hour online monitoring system for wastewater discharge, ensuring real-time compliance with environmental regulations[62]. - The company actively promotes green and low-carbon manufacturing practices, focusing on energy conservation and clean production[66]. - The company has received ISO 14001 environmental management certification and is recognized as a national "Green Factory" and provincial "Water-saving Benchmark Enterprise"[66]. Risks and Challenges - The company faces risks from macroeconomic fluctuations and market demand, which may impact the growth of decorative paper products[43]. - Raw material prices, including wood pulp and titanium dioxide, are subject to significant volatility, potentially affecting production costs and gross margins[44]. - Increased competition in the decorative paper industry necessitates a focus on product quality and customer feedback to maintain market position[45]. - The company is exposed to foreign exchange risks due to import and export activities primarily settled in USD, which could lead to substantial exchange losses if not managed effectively[46]. - Changes in government policies, including environmental regulations and tax adjustments, could significantly influence the company's operational strategies and profitability[47].

杭州华旺新材料科技股份有限公司 章 程 二〇二四年八月 杭州华旺新材料科技股份有限公司章程 目 录 第一章 总则 第二章 经营宗旨和范围 第三章 股 份 第四章 股东和股东大会 第五章 董事会 第六章 总经理及其他高级管理人员 第七章 监事会 第八章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 1 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 杭州华旺新材料科技股份有限公司章程 第三节 会计师事务所的聘任 第九章 通知和公告 第十章 合并、分立、增资、减资、解散和清算 第十一章 修改章程 第十二章 附则 2 第一节 通知 第二节 公告 第一节 股东 第二节 股东大会的一般规定 第三节 股东大会的召集 第四节 股东大会的提案与通知 第五节 股东大会的召开 第六节 股东大会的表决和决议 第一节 董事 第二节 董事会 第一节 监事 第二节 监事会 第一节 合并、分立、增资和减资 第二节 解散和清算 杭州华旺新材料科技股份有限公司章程 第一章 总则 第一条 为维护杭州华旺新材料科技股份有限公司（以下简称"公司"）、 股东和债权人的合法权益，规范公司的组织和行为，根据《中华人民共 ...

杭州华旺新材料科技股份有限公司（以下简称"公司"）于 2024 年 7 月 15 日、2024 年 7 月 31 日分别召开第四届董事会第五次会议和 2024 年第三次临时 股东大会，审议通过了《关于增加注册资本并修订<公司章程>的议案》，具体 内容详见公司于 2024 年 7 月 16 日在上海证券交易所网站（www.sse.com.cn）披 露的《杭州华旺新材料科技股份有限公司关于增加注册资本并修订<公司章程> 的公告》（公告编号：2024-049）。 公司已于近日完成上述事项的工商变更登记和《公司章程》备案手续，并取 得了浙江省市场监督管理局换发的《营业执照》，相关登记信息如下： 证券代码：605377 证券简称：华旺科技 公告编号：2024-063 杭州华旺新材料科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 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。 注册资本：肆亿陆仟肆佰柒拾叁万玖仟贰佰叁拾元 成立日期：2009 年 12 月 30 日 经营范围：一般项目：新材料技术研发；纸制造；纸制品制造；纸制品 ...

一、 召开会议的基本情况 证券代码：605377 证券简称：华旺科技 公告编号：2024-061 杭州华旺新材料科技股份有限公司 关于召开2024年第四次临时股东大会的通知 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) 股东大会类型和届次 2024年第四次临时股东大会 召开的日期时间：2024 年 9 月 2 日 14：00 召开地点：浙江省杭州市临安区青山湖街道滨河北路 18 号公司会议室 (五) 网络投票的系统、起止日期和投票时间。 股东大会召开日期：2024年9月2日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2024 年 9 月 2 日 至2024 年 9 月 2 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开 ...