智通财经6月30日电，晨光新材(605399.SH)公告称，公司于2025年6月27日收到2600万元人民币与收益 相关的政府补助，占公司2024年度经审计归属于上市公司股东净利润的62.86%。该补助预计将对公司 净利润产生一定的积极影响。 晨光新材：收到2600万元政府补助 ...

Core Insights - The company, Morning Light New Materials (晨光新材), reported a decline in both revenue and profit for the year 2024, with total revenue of 1.16 billion yuan, down 0.42% year-on-year, and a net profit attributable to shareholders of 41.36 million yuan, down 59.14% year-on-year [1][2]. Financial Performance - The gross profit margin for 2024 was 14.84%, a decrease of 0.31% compared to the previous year, while the net profit margin was 3.53%, down 5.14% year-on-year [2]. - The company incurred total operating expenses of 132 million yuan, an increase of 22.44 million yuan year-on-year, resulting in an expense ratio of 11.38%, up 1.97% from the previous year [2]. - Sales expenses increased by 12.96%, management expenses rose by 13.25%, while research and development expenses decreased by 9.95%, and financial expenses surged by 44.50% [2]. Employee Statistics - As of 2024, the total number of employees in the company was 1,372, reflecting an increase of 132 employees or 10.65% compared to the previous year [3]. Executive Compensation - The total remuneration for the board of directors, supervisors, and senior management in 2024 amounted to 8.92 million yuan, with the chairman receiving 1.17 million yuan and the general manager receiving 1.43 million yuan [5][6]. Company Background - Morning Light New Materials, established on September 29, 2006, is located in Jiujiang, Jiangxi Province, and specializes in the research, production, and sales of functional silane basic raw materials, intermediates, and finished products [7].

Core Viewpoint - Morning Light New Materials (晨光新材) reported a significant decline in both revenue and net profit for Q1 2025, indicating financial challenges faced by the company [1][2]. Financial Performance - The company's revenue for Q1 2025 was 233 million RMB, a decrease of 15.09% compared to the same period last year [1]. - The net profit attributable to shareholders was -4.73 million RMB, representing a decline of 118.44% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was -11.79 million RMB, down 177.75% from the previous year [1]. - Basic earnings per share were -0.02 RMB, a drop of 125% compared to the same period last year [1]. Profitability Metrics - The gross margin for the company was 13.18%, down 1.64% year-on-year and 3.01% quarter-on-quarter [2]. - The net profit margin was -2.04%, a decrease of 11.39% compared to the same period last year and down 0.38% from the previous quarter [2]. Expense Analysis - Total operating expenses for Q1 2025 were 35.16 million RMB, an increase of 12.61 million RMB compared to the same period last year [2]. - The expense ratio was 15.12%, up 6.89% year-on-year [2]. - Sales expenses increased by 18.89%, management expenses rose by 16.67%, R&D expenses grew by 5.12%, and financial expenses surged by 98.03% [2]. Company Background - Morning Light New Materials was established on September 29, 2006, and went public on August 4, 2020 [5]. - The company specializes in the research, production, and sales of functional silane basic raw materials, intermediates, and finished products [5].

Core Viewpoint - The organic silicon market is experiencing a significant decline, with core product prices dropping sharply due to oversupply and weak demand, leading to widespread losses in the industry [1][2]. Group 1: Market Conditions - The price of DMC, a core organic silicon product, fell below 10,500 yuan per ton, representing an approximately 83% decrease from the peak in September 2021, and a cumulative decline of over 23% this year [1]. - The average transaction price has dropped below the cost line, resulting in the industry facing widespread losses [1]. - Supply growth is outpacing demand, with production expected to reach 2.533 million tons in 2024, a year-on-year increase of 20.4%, while demand is projected at 2.191 million tons, a growth of 18.4% [1]. Group 2: Trade and Economic Impact - Trade tensions, particularly the U.S. tariffs on organic silicon products, have increased export costs for Chinese ordinary silicone rubber products by 15% to 20%, impacting the $2.28 billion trade market between China and the U.S. [1]. - The overall performance of listed organic silicon companies has declined in the first quarter, with significant drops in revenue and net profit across multiple firms [2]. Group 3: Industry Challenges and Future Outlook - The primary challenge for the organic silicon sector is the excessive new production capacity, with a projected 24.2% year-on-year increase in production capacity for 2024, marking the peak of the current expansion cycle [2]. - Despite short-term challenges, there are long-term opportunities as policies indicate continued development in real estate, which may boost demand for construction sealants [2]. - The industry is encouraged to focus on high-end and emerging fields, such as medical personal care, photovoltaic films, and automotive sealing components, which are expected to grow at an annual rate exceeding 15% [3].

Core Viewpoint - The legal opinion letter from Beijing Jincheng Tongda (Shanghai) Law Firm confirms that Jiangxi Morning Light New Materials Co., Ltd. has obtained the necessary approvals and authorizations for the repurchase and cancellation of restricted stocks under its 2024 incentive plan, in compliance with relevant laws and regulations [1][10]. Summary by Sections Legal Opinion and Compliance - The law firm conducted a thorough verification of the documents and facts related to the 2024 incentive plan and confirmed that the facts stated in the legal opinion are true, accurate, and complete [2][3]. - The firm asserts that there are no relationships that could affect the impartiality of their duties towards Jiangxi Morning Light New Materials [2]. Repurchase and Cancellation Details - The company plans to repurchase and cancel 456,000 shares of restricted stock due to not meeting the performance assessment targets set for the first release period of the incentive plan [7][9]. - The repurchase price is set at 6.13 yuan per share, plus the interest from bank deposits [9][10]. Performance Assessment Criteria - The performance assessment for the first release period requires a revenue growth rate of 20% and a net profit growth rate of 30% based on the previous year's figures [7]. - If the company fails to meet these targets, all restricted stocks eligible for release will not be released and will be repurchased and canceled [9]. Information Disclosure - The company has fulfilled its information disclosure obligations as required by the relevant management measures and listing rules, including announcements regarding board and supervisory committee resolutions [10]. - The company is required to continue fulfilling its disclosure obligations as the incentive plan progresses [10].

Core Viewpoint - The company plans to repurchase and cancel 660,032 shares under the 2024-2026 employee stock ownership plan due to unmet performance targets, with a repurchase price of 6.13 yuan per share plus bank interest [1][6][7]. Summary by Sections Announcement of Repurchase - The company announced the repurchase of 660,032 shares at a price of 6.13 yuan per share plus bank interest [1]. - The decision was made during the board and supervisory meetings held on April 24, 2025 [1][5]. Employee Stock Ownership Plan - The employee stock ownership plan was approved on February 28, 2024, and included provisions for performance-based unlocking of shares [2][4]. - The first unlocking conditions were not met, leading to the repurchase of the corresponding shares [6][7]. Financial Performance - For the year 2024, the company reported revenue of 1,159.65 million yuan and a net profit of 41.36 million yuan, which did not meet the performance targets set for the employee stock ownership plan [6]. Share Structure Changes - Following the repurchase, the total number of shares will decrease from 312,901,360 to 312,241,328 [8]. - The repurchase will not materially affect the company's financial status or operational performance [9]. Funding Source - The repurchase will be funded from the company's own resources [7].

证券代码：605399 证券简称：晨光新材 公告编号：2025-025 江西晨光新材料股份有限公司 关于股权激励限制性股票回购注销实施公告 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： 回购注销原因：根据《江西晨光新材料股份有限公司 2024 年限制性股票 激励计划（草案）》（以下简称"《2024 年激励计划（草案）》"）的相关规 定及公司层面业绩考核结果，公司第一个解除限售期解除限售条件未成就，公司 决定回购注销当期不得解除限售的限制性股票合计 456,000 股。 一、本次限制性股票回购注销的决策与信息披露 2025 年 4 月 24 日，公司召开了第三届董事会第十二次会议和第三届监事会 第十次会议，审议通过了《关于 2024 年限制性股票激励计划第一个解除限售期 解除限售条件未成就及回购注销部分限制性股票的议案》，上述议案提交董事会 审议前已经董事会薪酬与考核委员会审议通过。具体内容详见公司于 2025 年 4 月 26 日在上海证券交易所官方网站（www.sse.com.cn）披露的《关于 2024 ...

北京金诚同达（上海）律师事务所 关于 江西晨光新材料股份有限公司 2024 年限制性股票激励计划回购注销事项的 法律意见书 金沪法意[2025]第 217 号 上海市浦东新区世纪大道88号金茂大厦18层 电话：86-21-3886 2288 传真：021-3886 2288*1018 北京金诚同达（上海）律师事务所 法律意见书 释 义 在本法律意见书内，除非文意另有所指，下列词语具有下述涵义： | 晨光新材、公司 | 指 | 江西晨光新材料股份有限公司 | | --- | --- | --- | | 本激励计划、2024 年激 | 指 | 江西晨光新材料股份有限公司 2024 年限制性股票激励计划 | | 励计划 | | | | 《激励计划（草案）》 | 指 | 《江西晨光新材料股份有限公司 2024 年限制性股票激励计 | | | | 划（草案）》 | | 限制性股票 | 指 | 公司根据本激励计划规定的条件和价格，授予激励对象一定 数量的公司股票，该等股票设置一定期限的限售期，在达到 | | | | 本激励计划规定的解除限售条件后，方可解除限售流通 | | 激励对象 | 指 | 按照本激励计划规定，获得限 ...

证券代码：605399 证券简称：晨光新材 公告编号：2025-026 江西晨光新材料股份有限公司 本次拟回购注销数量：660,032 股。 本次拟回购价格：6.13 元/股加上银行同期存款利息之和。 （二）2024 年 2 月 28 日，公司召开第三届监事会第四次会议，审议通过了 《关于<江西晨光新材料股份有限公司 2024-2026 年员工持股计划（草案）>及其 摘要的议案》及《关于<江西晨光新材料股份有限公司 2024-2026 年员工持股计 划管理办法>的议案》。 （三）2024 年 4 月 17 日，公司收到中国证券登记结算有限责任公司上海分 公司出具的《过户登记确认书》，公司"江西晨光新材料股份有限公司回购专用 证券账户"（账户号码：B886224740）中所持有的 165.0080 万股公司 A 股普通 股股票，已于 2024 年 4 月 16 日以非交易过户的方式过户至公司"江西晨光新材 料股份有限公司-2024-2026 年员工持股计划"证券账户（账户号码：B886450090）， 过户价格为 6.23 元/股，具体内容详见公司于 2024 年 4 月 18 日在上海证券交易 所网站（www ...

Core Viewpoint - The new materials industry is experiencing rapid growth, with significant opportunities arising from technological advancements, policy support, and the need for domestic production capabilities in response to international trade tensions [2][9][13]. Group 1: Industry Overview - The global new materials industry reached a value of $2.8 trillion in 2019, with a competitive landscape divided into three tiers: developed countries in the first tier, rapidly developing countries like China in the second tier, and emerging economies in the third tier [8][12]. - China's new materials industry generated a total output value of 6.4 trillion yuan in 2021, with an average annual growth rate of 23.1% from 2010 to 2021, and is projected to reach 7.5 trillion yuan in 2022 [9][10]. Group 2: Semiconductor Sector - The global semiconductor market was valued at $595 billion in 2021, with expectations to grow to $790 billion by 2026, driven by advancements in 5G and automotive electronics [3][16]. - The semiconductor materials market in China reached $11.9 billion in 2021, growing by 22.2% year-on-year, indicating a significant increase in domestic demand [31][32]. Group 3: Display Materials - The global OLED materials market is expected to grow from approximately $900 million in 2019 to about $2.6 billion by 2024, with a compound annual growth rate (CAGR) of 23.6% [4]. - Domestic companies like Wanrun and Ruile New Materials are leading suppliers in the liquid crystal and OLED material sectors, with significant market shares [4][15]. Group 4: New Energy Materials - The new energy sector is rapidly evolving, with key materials such as composite copper foil, conductive carbon black, and sodium battery materials expected to see substantial market growth [5][15]. - The market for photovoltaic materials is projected to reach 20 billion yuan by 2025, driven by increasing demand for solar energy solutions [15]. Group 5: Environmental Materials - Traditional chemical applications are witnessing upgrades, with domestic companies like Zhongchumai and Jianlong Weina capitalizing on opportunities in molecular sieves and lubricating oil additives [6][15]. - Aerogels, known for their exceptional insulation properties, are gaining traction in construction and electric vehicle markets, with companies like Chenguang New Materials entering this space [6][15].