证券代码：605589 证券简称：圣泉集团 公告编号：2024-074 济南圣泉集团股份有限公司 关于回购股份事项前十大股东及前十大无限售条件 股东持股情况的公告 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。 | 序号 | 股东名称 | 持股数量（股） 持股比例（%） | | | --- | --- | --- | --- | | 1 | 唐一林 | 140,482,995 | 16.60 | | 2 | 唐地源 | 74,180,000 | 8.76 | | 3 | 济南汇山投资合伙企业（有限合伙） | 15,197,118 | 1.80 | 一、2024 年 11 月 29 日公司前十大股东持股情况 | 4 | 香港中央结算有限公司 | 14,757,355 | 1.74 | | --- | --- | --- | --- | | 5 | 王福银 | 14,583,294 | 1.72 | | 6 | 全国社保基金一一一组合 | 13,047,764 | 1.54 | | 7 | 济南圣泉集团股份有限公司回购专用证 券账 ...

Investment Rating - The report assigns an "Accumulate-A" rating for the company, indicating a positive outlook for its stock performance in the near term [4]. Core Views - The company's stock buyback plan demonstrates management's confidence in the company's future growth and value recognition. The buyback is set at a price not exceeding RMB 32.00 per share, with a total fund range of RMB 250 million to RMB 500 million, aiming to repurchase between 7.8125 million to 15.625 million shares [2][4]. - The company has shown strong performance in its core products, particularly phenolic resin, with sales volume increasing by 3.64% year-on-year to 377,700 tons, and an average selling price rising by 3.83% to RMB 7,300 per ton, contributing to a revenue increase of 7.60% year-on-year to RMB 2.742 billion [2][4]. - The company is expected to achieve revenue growth of 12.3%, 17.4%, and 14.3% for the years 2024 to 2026, respectively, with net profit growth of 14.5%, 35.1%, and 22.2% during the same period [4]. Summary by Sections Market Performance - The company announced a stock buyback plan on December 2, 2024, to enhance employee motivation and reflect management's confidence in future growth [2]. - As of December 5, 2024, the company's closing price was RMB 24.29, with a yearly high of RMB 25.52 and a low of RMB 15.48 [2]. Financial Data - For the fiscal years 2024 to 2026, the company is projected to achieve revenues of RMB 10.238 billion, RMB 12.021 billion, and RMB 13.734 billion, respectively, with corresponding net profits of RMB 904 million, RMB 1.221 billion, and RMB 1.492 billion [4][6]. - The company's gross margin is expected to improve from 24.8% in 2024 to 26.4% in 2026, indicating enhanced profitability [6]. Product Development - The company is expanding its product offerings in electronic chemicals, with new products in high-purity epoxy and high-end liquid phenolic resin receiving customer certifications, which is expected to drive future revenue growth [2][4]. - The biomass project is anticipated to become a new growth point for the company, contributing to rapid revenue increases in the future [2][4].

济南圣泉集团股份有限公司 关于取得金融机构股票回购贷款的公告 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。 证券代码：605589 证券简称：圣泉集团 公告编号：2024-073 除上述贷款外，本次回购的其余资金为公司自有资金。 根据股票回购增持再贷款有关事宜通知的相关精神，公司为更好 的开展回购股票相关工作，与银行积极开展工作，充分利用好金融贷 款工具，推进公司股票回购计划、提升公司价值。上述交易事项不会 对公司当年的经营业绩产生重大影响。 本次股票回购专项贷款额度不代表公司对回购金额的承诺，具体 回购股份的数量以回购期满时实际回购的股份数量为准。 公司将根据贷款资金实际到账情况、资金使用规定和市场情况在 回购期限内择机实施本次回购，严格遵守贷款资金"专款专用"的原 则，并按照相关法律、法规和规范性文件的规定及时履行信息披露义 务。敬请广大投资者注意投资风险。 特此公告。 一、回购方案基本情况 济南圣泉集团股份有限公司（以下简称"公司"）于 2024 年 12 月 1 日召开了第九届董事会第三十三次会议，审议通过了《关于以 ...

证券代码：605589 证券简称：圣泉集团 公告编号：2024-072 济南圣泉集团股份有限公司 关于以集中竞价交易方式回购公司股份的方案 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、准确性和完整性依法承担法律责任。 重要内容提示： ● 相关股东是否存在减持计划：经公司问询，截至本次回购方案董事 会决议日，公司控股股东、实际控制人、持股 5%以上的股东及董监高 在未来 3 个月、6 个月暂不存在减持计划。若未来拟实施减持计划，公 司将按照相关规定及时履行信息披露义务。 ● 相关风险提示： 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》（以下简称"《证券法》"）、《上市公司股份回购规则》 及《上海证券交易所上市公司自律监管指引第 7 号——回购股份》（以 下简称"《回购指引》"）等法律、法规及规范性文件的相关要求，公司 计划回购公司部分社会公众股份。具体内容如下： 一、 回购方案的审议及实施程序 （一）董事会审议情况 公司于 2024 年 12 月 1 日召开了第九届董事会第三十三次会议， 1、若本次回购期限内，公司股 ...

证券代码：605589 证券简称：圣泉集团 公告编号：2024-071 济南圣泉集团股份有限公司 关于股份回购实施结果暨股份变动的公告 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： | 回购方案首次披露日 | 2024/7/24 | | | --- | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 12 个月 | | | 预计回购金额 | 15,000 万元 | 万元~25,000 | | 回购价格上限 | 24.00 | 元/股 | | 回购用途 | √用于员工持股计划或股权激励 | □减少注册资本 | | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | | 实际回购股数 | 12,838,500 | 股 | | 实际回购股数占总股本比例 | 1.52% | | | 实际回购金额 | 249,970,389 | 元 | | 实际回购价格区间 | 17.22 元/股 | 元/股~23.85 | 一、 回购审批情况和回购方案内容 济南圣泉集团股份有限公司（以 ...

Investment Rating - Buy rating (initiated coverage) [2] Core Views - PPO capacity gradually released, Q3 net profit attributable to parent company increased QoQ [2] - Phenolic resin production declined QoQ, but net profit increased QoQ [5] - Rich pipeline of electronic chemicals and new energy materials projects, profitability expected to further improve [6] - Daqing project completed technical transformation, capacity ramp-up contributing incremental growth [10] Financial Performance - 2024 Q1-Q3 revenue: 7.152 billion yuan, +6.87% YoY; net profit attributable to parent company: 581 million yuan, +20.53% YoY [3] - 2024 Q3 revenue: 2.526 billion yuan, +8.58% YoY, +1.42% QoQ; net profit attributable to parent company: 249 million yuan, +47.77% YoY, +28.56% QoQ [4] - 2024 Q3 gross margin: 23.14%, +0.52pct YoY, -0.26pct QoQ; net profit margin: 10.12%, +2.75pct YoY, +2.18pct QoQ [4] - 2024 Q3 phenolic resin production: 121,200 tons, -15.12% QoQ; revenue: 896 million yuan, -13.06% QoQ [6] - 2024 Q3 foundry resin production: 47,000 tons, -1.61% QoQ; revenue: 402 million yuan, -3.84% QoQ [6] - 2024 Q3 electronic chemicals production: 17,300 tons, +2.87% QoQ; revenue: 286 million yuan, -12.11% QoQ [6] Project Updates - 1,000-ton functionalized polyphenylene project started production in June 2024, currently in customer verification stage with abundant intended orders [6] - 300-ton silicon carbon anode porous carbon capacity built by September 2024, 1,000-ton project under construction [6] - Daqing project completed transformation, started production in June 2024, capacity utilization rate exceeded 70% by September 2024 [10] Forecasts - 2024-2026 revenue forecast: 9.873 billion, 12.187 billion, 14.274 billion yuan [10] - 2024-2026 net profit attributable to parent company forecast: 842 million, 1.298 billion, 1.489 billion yuan [10] - 2024-2026 PE ratio: 23x, 15x, 13x [10] - 2024-2026 ROE: 8%, 11%, 12% [14] - 2024-2026 gross margin: 23%, 25%, 25% [14] - 2024-2026 revenue growth rate: 8%, 23%, 17% [14] - 2024-2026 net profit growth rate: 7%, 54%, 15% [14]

Company and Industry Overview * **Industry**: Solid-state battery, specifically focusing on resin-based carbon materials for 3C and automotive applications. * **Company**: Shengquan Group, a leading player in the solid-state battery materials market. Key Points Business Layout and Product Development 1. **Resin-based Carbon Materials**: Shengquan Group has a clear layout for resin-based carbon materials, including various types of mesoporous carbons for different applications. [2] 2. **Capacity and Production**: The company currently has a production capacity of over 300 tons, with a second-phase line under construction expected to be completed by the Chinese New Year, increasing capacity. [2] 3. **3C Segment**: The company's products are primarily used in the 3C segment, with a focus on high-voltage anode requirements. [3] 4. **Automotive Segment**: The company is targeting the automotive segment, with a focus on low expansion and good cycle life. [3] 5. **Research and Development**: Shengquan Group is actively researching and developing various types of mesoporous carbons for different applications, including high-power density, long cycle life, and low expansion. [2] Market and Sales 1. **3C Segment**: The company's products are in high demand in the 3C segment, with orders exceeding 300 to 400 tons for next year. [5] 2. **Automotive Segment**: The company is currently in the testing phase with automotive customers and expects to see volume production in the second half of next year. [8] 3. **Customers**: The company's main customers include Tianmu Xian Island, Lanzhi Zhide, and Putailai, with Tianmu Xian Island being the largest customer. [6] 4. **Export**: The company's export business accounts for about 15% of its total sales, with a presence in Southeast Asia, Russia, Brazil, and India. [16] Cost and Pricing 1. **Cost Reduction**: The company is focusing on cost reduction through scale-up, with a target of achieving cost levels comparable to graphite anode materials. [13] 2. **Pricing**: The company does not disclose specific pricing information, but it indicates that prices may slightly decrease as production scales up. [20] Investment and Expansion 1. **Capital Expenditure**: The company has invested in a 1,000-ton production line for mesoporous carbons, with a capital expenditure of about 100 million yuan. [12] 2. **Expansion Plans**: The company plans to expand its production capacity for biomass-based carbon materials and other small products in the future. [22] Other Important Points 1. **New Product Development**: The company is developing new products based on wood-based carbon materials, targeting the automotive segment. [18] 2. **Cash Flow**: The company's cash flow is stable, with a low debt-to-asset ratio. [21] 3. **Research and Development**: The company is actively engaged in research and development of new products and technologies, aiming to achieve domestic substitution and expand its market share. [24]

Investment Rating - The investment rating for the company is "Buy" and is maintained [3][5]. Core Views - The company achieved a revenue of 7.15 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 6.9%. The net profit attributable to shareholders was 580 million yuan, up 20.5% year-on-year, and the net profit after deducting non-recurring gains and losses was 550 million yuan, an increase of 24.3% year-on-year [3][5]. - In Q3 2024, the company reported a revenue of 2.53 billion yuan, a year-on-year increase of 8.6% and a quarter-on-quarter increase of 1.4%. The net profit attributable to shareholders was 250 million yuan, up 47.8% year-on-year and 28.6% quarter-on-quarter [3][5]. - The company is a leader in synthetic resins, electronic chemicals, and biomass chemicals, with stable profit contributions from synthetic resins and promising growth potential from electronic chemicals and biomass projects [5]. Financial Performance - The company’s sales volume for phenolic resin, casting resin, and electronic chemicals in Q1-Q3 2024 was 378,000 tons, 131,000 tons, and 50,000 tons, respectively, with year-on-year changes of +3.6%, +13.1%, and -2.0% [3][5]. - The average price for phenolic resin, casting resin, and electronic chemicals in Q3 2024 was 7,400 yuan/ton, 8,600 yuan/ton, and 17,600 yuan/ton, with year-on-year changes of +10.1%, -12.1%, and +13.4% [3][5]. - The gross profit margin for Q3 2024 was 23.1%, a year-on-year increase of 0.52 percentage points, while the net profit margin was 10.1%, up 2.76 percentage points year-on-year [3][5]. Project Developments - The company has completed the debugging of the PPO project and is currently in the verification phase with downstream customers. The annual production capacity of the porous carbon project is under construction, benefiting from the booming demand in the AI and optical module markets [4][5]. - The biomass project at the Zhangqiu base has significantly increased the production of xylose and xylitol, with the Daqing production base's biomass refining project achieving stable operation after its upgrade [5]. - The company has established a production capacity of 300 tons for porous carbon, with a project for an annual production capacity of 1,000 tons currently under construction [4][5]. Earnings Forecast - The company is expected to achieve net profits of 930 million yuan, 1.22 billion yuan, and 1.5 billion yuan for the years 2024, 2025, and 2026, respectively [5][10].

北京市中伦（上海）律师事务所 关于济南圣泉集团股份有限公司 2022 年限制性股票激励计划 回购注销部分限制性股票实施情况的 法律意见书 二〇二四年十一月 北京市中伦（上海）律师事务所 关于济南圣泉集团股份有限公司 2022 年限制性股票激励计划回购注销部分限制性股票 实施情况的法律意见书 致：济南圣泉集团股份有限公司（圣泉集团） 法律意见书 发表法律意见，而不对有关会计、审计及资产评估等专业事项发表意见。本所并未就中 国境内以外的其他司法管辖区域的法律事项进行调查，亦不就中国境内以外的其他司法 管辖区域的法律问题发表意见。在本法律意见书中述及有关会计、审计、资产评估等专 业事项或中国境内以外的其他司法管辖区域的法律事项时，均为按照其他有关专业机构 出具的报告或意见引述，本所经办律师对于该等非中国境内法律业务事项仅履行了普通 人一般的注意义务。本所在本法律意见书中对其他有关专业机构出具的报告或意见中某 些数据和结论的引述，并不意味着本所对这些数据和结论的真实性和准确性做出任何明 示或默示的保证。 为出具本法律意见书，本所特作如下声明： 1．本所发表法律意见所依据的是本法律意见书出具日前已经发生或存在的有关事 ...

证券代码：605589 证券简称：圣泉集团 公告编号：2024-069 济南圣泉集团股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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。 重要内容提示： | 回购方案首次披露日 | 2024/7/24 | | | --- | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 12 个月 | | | 预计回购金额 | 15,000 万元 | 万元~25,000 | | 回购用途 | √用于员工持股计划或股权激励 | □减少注册资本 | | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | | 累计已回购股数 | 10,542,100 | 股 | | 累计已回购股数占总股本比 | 1.25% | | | 例 | | | | 累计已回购金额 | 196,876,758 | 元 | | 实际回购价格区间 | 17.22 元/股 | 元/股~21.55 | 日在上海证券交易所网站（www.sse.com.cn）披露的《圣泉集团关于以 集 ...