证券代码：688102 证券简称：斯瑞新材 公告编号：2025-036 （四） 表决方式是否符合《公司法》及公司章程的规定，股东会主持情况等。 陕西斯瑞新材料股份有限公司 2025年第一次临时股东会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 6 月 27 日 （二） 股东会召开的地点：陕西斯瑞新材料股份有限公司 4 楼会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 106 | | --- | --- | | 普通股股东人数 | 106 | | 2、出席会议的股东所持有的表决权数量 | 493,490,009 | | 普通股股东所持有表决权数量 | 493,490,009 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 67.6796 | | 例（%） | | | 普通股股东所持有表决权 ...

斯瑞新材与汉得信息（300170）合作启动智慧财务平台建设项目，旨在通过人工智能和大数据技术打造 智能化财务管理系统。项目聚焦核算、风控和决策三大核心能力，计划于2026年初上线，实现财务管理 质的飞跃，提升运营效率和决策响应速度，支持全球化布局和精细化管控。斯瑞新材将持续深化数字化 转型，推动技术创新和管理升级，成为新材料领域的数字化标杆。(斯瑞新材) ...

Investment Rating - The report initiates coverage with an "Accumulate" rating for the company [8] Core Views - The company is a leading enterprise in high-end copper-based alloys, with continuous revenue and performance growth. It focuses on the preparation technology of copper-based special materials and has diversified into multiple sectors, including aerospace, medical imaging, and optical communication [7][22] - The company has established a solid technological advantage in high-strength and high-conductivity copper alloy materials, which are primarily supplied to the aerospace and new energy vehicle markets. The demand for these materials is expected to expand due to the ongoing development of rail transit and the new energy vehicle market [7][22] - The company is actively expanding into high-value emerging fields, including medical imaging components and liquid rocket engine materials, which are expected to drive future growth [7][22] Summary by Sections 1. Leading Enterprise in Copper-Based Special Materials - The company has a significant technological advantage and is actively exploring new fields. It has developed high-strength and high-conductivity copper alloys, which are crucial for high-end applications [16][21] - The company has achieved stable revenue growth, with projected revenue of 1.33 billion yuan in 2024, a year-on-year increase of 12.73%, and a net profit of 114 million yuan, up 16.17% [5][6] 2. Core Advantage Industries - High-strength and high-conductivity copper alloys are the main revenue sources, accounting for approximately 70% of total revenue. The company has established a complete industrial chain for these products [31][42] - The company is positioned upstream in the medium and high-voltage electrical contact materials industry, with products used in various electrical equipment, benefiting from the expansion of the power grid [7][22] 3. Emerging Industries - The company is making significant strides in the medical imaging sector, providing components for CT and DR equipment, and is a major supplier in the domestic market [7][22] - The company has developed high-temperature copper alloys for liquid rocket engines, which have been validated by customers and are used in actual launches, indicating strong demand in the commercial aerospace sector [7][22] 4. Financial Forecast and Valuation - The company is expected to achieve net profits of 154 million yuan, 200 million yuan, and 250 million yuan from 2025 to 2027, with corresponding PE ratios of 63, 48, and 38 [6][8] - The report compares the company's valuation with peers, indicating that the company's 2025 PE is lower than the average of comparable companies, suggesting potential for valuation expansion [8]

Summary of Sry New Materials Conference Call Company Overview - Sry New Materials primarily generates revenue from high-strength and high-conductivity copper alloys (47.49% in 2024), medium and high-voltage electrical contact materials (26.9%), and high-performance metal chromium powder (17.37%) [2][3][7] - The company has shown steady growth in historical performance, with revenue and net profit increasing significantly from 2020 to Q1 2025, with net profit rising from 52 million to 114 million yuan, averaging over 20% annual growth [2][8] Key Business Segments 1. **High-Strength and High-Conductivity Copper Alloys** - Revenue share of 47.49% in 2024 - Stable gross margin, with overall gross profit increasing from 68 million to 120 million yuan, a compound growth rate of 15.42% [7] - Applications in rail transit and consumer electronics, achieving domestic substitution [7] 2. **Medium and High-Voltage Electrical Contact Materials** - Revenue share of 26.9%, with gross profit share of 31.73% - Revenue growth from 203 million to 335 million yuan, a compound growth rate of 13.37% [7] - Major clients include Siemens, ABB, and Eaton, with over 60% domestic market share and over 50% global market share [3][16] 3. **High-Performance Metal Chromium Powder** - Sales volume increased from nearly 300 tons in 2020 to 471 tons in 2024, with a compound growth rate of 17.73% [10] - Gross profit increased from 4 million to 7 million yuan [10] 4. **CT and DR Tube Business** - Revenue growth from 15 million to nearly 60 million yuan, with a compound growth rate of 41.34% [11] - Gross margin improved from 11.57% in 2020 to 30.4% in 2025, indicating significant future growth potential [11] Market Trends and Opportunities - The global commercial aerospace market is rapidly growing, with satellite launches increasing at a compound annual growth rate (CAGR) of 41.53% [13][14] - Sry New Materials is the only domestic company capable of providing zirconium copper alloys for rocket engines, filling a technological gap in the domestic market [15] Future Outlook - The company expects net profit growth of around 40% from 2025 to 2027, with a target price of approximately 16.17 yuan per share based on a 71x P/E ratio for 2025 [3][26] - The medical imaging component market is projected to grow significantly, with a forecast of 60,000 CT tubes and 40,000 DR tubes by 2030 [19] Management and R&D Investments - The management team has implemented stock incentive plans to align employee interests with company growth, showing confidence in future prospects [21] - Significant investments in R&D, including 230 million yuan for liquid rocket engine materials, indicate a commitment to innovation and capacity expansion [22] Conclusion - Sry New Materials is positioned for strong growth across its business segments, with a focus on high-performance materials and significant market opportunities in aerospace and medical imaging sectors. The company's strategic initiatives and market leadership in electrical contact materials further enhance its investment appeal [2][3][26]

Core Viewpoint - The company is convening its first extraordinary general meeting of shareholders in 2025 to discuss several key proposals, including the election of a new board of directors and amendments to the company's governance structure [2][16][21]. Group 1: Meeting Details - The meeting is scheduled for June 27, 2025, at 14:00 in the company's conference room [8][9]. - Voting will be conducted through a combination of on-site and online methods, with specific time slots for online voting [7][8]. - Attendees must register 30 minutes prior to the meeting and present necessary identification documents [2][3]. Group 2: Proposals for Discussion - Proposal 1: The company plans to abolish the supervisory board and amend its articles of association to enhance governance efficiency [10][11]. - Proposal 2: The company seeks to revise several management systems, including the rules governing shareholder meetings and the remuneration management system for directors and senior management [12][13]. - Proposal 3: A new remuneration scheme for the fourth board of directors is proposed, linking compensation to company performance [14][15]. Group 3: Board Elections - Proposal 4: The election of the fourth board of directors will include three non-independent directors, with specific candidates nominated [16][17]. - Proposal 5: The election of three independent directors is also on the agenda, with candidates already vetted and approved by the Shanghai Stock Exchange [21][22]. Group 4: Candidate Qualifications - The nominated candidates for the board have been assessed for compliance with legal requirements and have no disqualifying factors [17][22][25][26][27]. - Each candidate's professional background and qualifications are detailed, ensuring they meet the necessary standards for board membership [18][19][20][24][25][26][27].

陕西斯瑞新材料股份有限公司 2025 年第一次临时股东会会议资料 证券代码：688102 证券简称：斯瑞新材 陕西斯瑞新材料股份有限公司 2025年第一次临时股东会 会议资料 二零二五年六月 陕西斯瑞新材料股份有限公司 2025 年第一次临时股东会会议资料 2025 年第一次临时股东会会议须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证会议 的顺利进行，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》"）、《上市公司股东会规则》以及《陕西斯瑞 新材料股份有限公司章程》（以下简称"《公司章程》"）、《陕西斯瑞新材料股份有限 公司股东会议事规则》等相关规定，特制定2025年第一次临时股东会会议须知： 一、为确认出席会议的股东或其代理人或其他出席者的出席资格，会议工作人 员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。出席会议的 股东及股东代理人须在会议召开前30分钟到会议现场办理签到手续，并请按规定出 示证券账户卡、身份证明文件或法人单位证明、授权委托书等，经验证后方可出席 会议。 二、为保证本次会议的严肃性和正常秩序，切 ...

Core Points - The 16th China Listed Company Investor Relations Management Tianma Award winners were announced on June 13, with Xu Runsheng from Srei New Materials receiving the Outstanding Secretary Award [1] - The Tianma Award, organized by the Securities Times, is one of the earliest and most influential evaluations in the field of investor relations management in China's capital market, having been established in 2009 [1] - The award aims to enhance investor relations management services among listed companies and promote two-way interaction between companies and investors, thereby stabilizing market expectations [1] Participation and Impact - The 2025 Tianma Award event saw participation from over 2,100 listed companies and more than 16 million public votes, marking the highest engagement in its 16-year history [1] - The awards include six categories: Tianma Award for Investor Relations Management, Outstanding Secretary Award, Excellent Team Award, Shareholder Return Award, Innovative Practice Award, and Hong Kong Listed Company Tianma Award [1] - The event emphasizes investor protection and aims to inspire innovation and development among market participants [1]

斯瑞新材在互动平台表示，公司产品已成功应用" 可控核聚变"领域，开发并成功配套新奥科技等国内 关键下游客户。公司与下游的可控核聚变公司合作，开发托卡马克试验装置磁体零组件，目前已经顺利 装机运行，开发的耐高温铜铬铌合金材料正在新一代核聚变装置的关键部件进行测试。 ...

证券代码：688102 证券简称：斯瑞新材 公告编号：2025-030 陕西斯瑞新材料股份有限公司 关于取消监事会、修订《公司章程》及修订、制定 部分管理制度的公告 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、准确性和完整性依法承担法律责任。 陕西斯瑞新材料股份有限公司（以下简称"公司"）于 2025 年 6 月 10 日召 开第三届董事会第十八次会议，审议通过了《关于取消监事会、修订 <公司章程> 的议案》《关于新增、修订公司部分管理制度的议案》。现将具体情况公告如下： 一、取消监事会并修订《公司章程》情况 为进一步完善公司治理结构，提高经营管理效率，根据《中华人民共和国公 司法》及《上市公司章程指引（2025 年修订）》《上海证券交易所科创板股票上 市规则》等有关法律法规的规定，结合公司实际情况，公司将不再设置监事会， 监事会的职权由董事会审计委员会行使。为保证公司规范运作，在公司股东会审 议通过公司取消监事会相关议案前，公司第三届监事会及监事应当继续遵守中国 证监会、上海证券交易所原有规章、规范性文件和业务规则以及公司现行的《公 司章程》和公司各 ...

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。 陕西斯瑞新材料股份有限公司（以下简称"公司"）第三届董事会任期即将 届满，根据《中华人民共和国公司法》（以下简称"《公司法》"）《上海证券交易 所科创板股票上市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号 ——规范运作》等法律法规、规范性文件以及《公司章程》等规定，公司开展董 事会换届选举工作，现将本次董事会换届选举情况公告如下： 一、董事会换届选举情况 公司于 2025 年 6 月 10 日召开第三届董事会第十八次会议，审议通过了《关 于取消监事会、修订 <公司章程> 的议案》，拟将董事会成员人数由 9 人调整为 7 人，其中独立董事 3 人，职工代表董事 1 人，并修改《公司章程》和《董事会议 事规则》相关内容。上述议案需提交公司 2025 年第一次临时股东会审议。本次 董事会换届选举以股东会审议通过关于修订《公司章程》相关内容为前提条件。 同日，公司第三届董事会第十八次会议审议通过了《关于董事会换届选举暨 提名第四届董事会非独立董事候选人的议案》及《关于董 ...