证券代码：688102 证券简称：斯瑞新材 公告编号：2025-009 陕西斯瑞新材料股份有限公司 第三届监事会第十四次会议决议公告 一、监事会会议召开情况 本公司监事会及全体监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。 一、监事会会议的召开情况 陕西斯瑞新材料股份有限公司（以下简称"公司"）第三届监事会第十四次会议 于 2025 年 3 月 31 日（星期一）在公司 4 楼会议室以现场的方式召开。会议通知已于 2025 年 3 月 28 日送达各位监事，监事会会议通知中包括会议的相关材料，同时列明了 会议召开的时间、地点、内容及方式。本次会议应出席监事 3 人，实际出席监事 3 人， 均以现场方式参会。 会议由监事会主席王万刚主持。会议召开符合有关法律、法规、规章和《公司章 程》的规定。 经审议，监事会认为：公司对本次激励计划激励对象名单、授予数量及行权价格 的调整符合《上市公司股权激励管理办法》等相关法律、法规、规范性文件及公司 《2023 年股票期权激励计划（草案）》的相关规定。本次调整事项在公司 2024 年第一 次临时股东大会对董 ...

证券代码：688102 证券简称：斯瑞新材 公告编号：2025-010 陕西斯瑞新材料股份有限公司 本议案已经第三届薪酬与考核委员会第九次会议审议通过。 第三届董事会第十六次会议决议公告 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。 一、董事会会议的召开情况 陕西斯瑞新材料股份有限公司（以下简称"公司"）第三届董事会第十六次 会议（以下简称"本次会议"或"会议"）于 2025 年 3 月 31 日（星期一）在公 司 4 楼会议室以现场结合通讯的方式召开，会议通知已于 2025 年 3 月 28 日送 达各位董事。会议由董事长王文斌先生召集和主持，本次会议应出席董事 9 人， 实际出席董事 9 人（其中：通讯方式出席 6 人）。 本次会议的召集和召开程序符合《中华人民共和国公司法》《陕西斯瑞新材 料股份有限公司章程》等法律、法规和规范性文件的规定。 二、董事会会议审议情况 经与会董事审议，做出以下决议： 审议通过《关于调整公司 2023 年股票期权激励计划相关事项的议案》 经审议，董事会认为：鉴于公司 2023 年股票期权激 ...

Financial Performance - The company's operating revenue for 2022 was CNY 993,605,178, representing a year-over-year increase of 2.61% compared to CNY 968,292,220 in 2021[22]. - The net profit attributable to shareholders for 2022 was CNY 78,014,942.93, reflecting a growth of 23.13% from CNY 63,362,228.68 in 2021[23]. - The net cash flow from operating activities decreased by 29.54% to CNY 51,461,450.10 in 2022, down from CNY 73,036,334.56 in 2021[23]. - The total assets of the company as of the end of 2022 were CNY 1,497,113,659.06, an increase of 16.94% from CNY 1,280,194,077.20 at the end of 2021[22]. - The net assets attributable to shareholders increased by 69.35% to CNY 993,829,737.89 at the end of 2022, compared to CNY 586,850,590.01 at the end of 2021[23]. - The company's revenue for 2022 increased by 2.61% year-on-year, driven by significant growth in high-strength and high-conductivity copper alloy products and liquid rocket engine thrust chamber products[25]. - The overall revenue for the company reached approximately 926.85 million RMB, with a year-on-year growth of 4.86%[112]. - The gross profit margin for the non-ferrous metal segment was 19.60%, reflecting a decrease of 0.45 percentage points compared to the previous year[112]. Research and Development - The company is focused on developing new products and technologies, particularly in the fields of advanced materials and medical imaging equipment[16]. - The company maintains a strong commitment to research and development, investing in innovative solutions to meet market demands[16]. - Research and development expenses accounted for 5.19% of operating revenue, an increase of 0.99 percentage points from the previous year[24]. - The company invested 516.13 million RMB in R&D, marking a 27% increase compared to the previous period[39]. - The company has filed 71 new invention patents, bringing the total to 218 authorized invention patents by the end of the reporting period[39]. - The company has established a provincial-level advanced copper alloy innovation center to integrate social technology and talent resources[95]. - The R&D team consists of 79 members, with a significant portion holding advanced degrees, including 1 PhD and 16 master's degrees[92]. - The company achieved a total R&D investment of ¥51,612,919.99, representing a 26.77% increase compared to the previous year[81]. Market Expansion and Strategy - The company is exploring market expansion opportunities and potential mergers and acquisitions to enhance its competitive position[16]. - The company actively expanded into international markets, resulting in a significant increase in export revenue[25]. - The company is focusing on expanding its application areas for high-performance copper alloys to maintain its leading position in the industry[54]. - The company is actively pursuing mergers and acquisitions to enhance its competitive position in the industry[167]. - The company plans to enter two new international markets by Q3 2023, targeting a 30% increase in overseas sales[170]. - The company has successfully entered the U.S. market for CT and DR tube components, with a steady increase in domestic market share[37]. Corporate Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated any decision-making procedures for providing guarantees[7]. - The company has not reported any instances where more than half of the board members could not guarantee the accuracy and completeness of the annual report[7]. - The board of directors held 8 meetings in 2022, approving 45 resolutions, in compliance with relevant regulations[156]. - The supervisory board convened 7 meetings in 2022, reviewing 18 resolutions, ensuring compliance with financial oversight responsibilities[157]. - The company has established a dedicated team for investor relations, actively engaging with shareholders to address inquiries and feedback[158]. - The company adheres to information disclosure regulations, ensuring transparency and equal access to information for all shareholders[158]. Investment and Capital Structure - The company plans to distribute a cash dividend of RMB 0.80 per 10 shares, totaling approximately RMB 32,000,800 (including tax) for the 2022 fiscal year[5]. - The company intends to increase its total share capital from 400,010,000 shares to 560,014,000 shares by issuing 4 new shares for every 10 shares held, resulting in a total of 160,004,000 new shares[5]. - The company completed a capital increase of RMB 356,910,828.82 to its wholly-owned subsidiary, Sui Rui Fu Feng, increasing its registered capital from RMB 60 million to RMB 400 million[138]. - The company has a total of RMB 32,661,905.20 in restricted assets, including cash and fixed assets, due to guarantees and collateral for loans[134]. Operational Efficiency - The company has implemented advanced manufacturing techniques such as 3D printing and vacuum induction melting to improve production efficiency[14]. - The company has optimized its vacuum casting technology, achieving a production capability of Cr content below 40%, which is currently a mainstream technology balancing quality and cost in the market[65]. - The company has achieved significant improvements in production efficiency and material utilization through the adoption of continuous extrusion processes for phosphorus-containing copper guide bars[62]. - The company is focusing on enhancing its operational efficiency through strategic investments in technology and process improvements[167]. Challenges and Risks - The company has identified potential risks in its business development, which are detailed in the management discussion and analysis section[3]. - The company faces risks related to technology upgrades and potential R&D failures, which could impact short-term performance and long-term sustainability[97]. - The company faces risks related to raw material price fluctuations, particularly copper prices, which could adversely affect financial performance[100]. - The company is monitoring international trade environment changes to mitigate potential impacts on its export business[106]. Future Outlook - The company aims to achieve carbon peak and carbon neutrality, aligning with the dual carbon goals[14]. - The company has set ambitious performance guidance for the next fiscal year, targeting a revenue increase of over 10%[166]. - The management team emphasized a commitment to sustainability, aiming for a 20% reduction in carbon emissions by 2025[170]. - The company is focused on technological innovation, aiming to hold over 50% of new patents globally in its niche materials sectors[147].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2021, representing a year-over-year growth of 15%[23]. - The company's operating revenue for 2021 reached ¥968,292,220.49, representing a 42.26% increase compared to ¥680,671,775.87 in 2020[25]. - Net profit attributable to shareholders increased by 21.60% to ¥63,362,228.68 in 2021, up from ¥52,105,260.30 in 2020[25]. - The basic earnings per share rose by 21.63% to ¥0.1760 in 2021, compared to ¥0.1447 in 2020[24]. - The company achieved a revenue of 968 million yuan in 2021, representing a year-on-year growth of 42.26%, and a net profit of 63.36 million yuan, up 21.60% year-on-year[35]. - The company reported a significant increase in revenue, achieving a total of $500 million, representing a 20% year-over-year growth[166]. - The company achieved a revenue of 1.5 billion, representing a year-over-year growth of 15%[165]. Research and Development - The company is investing RMB 100 million in R&D for new technologies, focusing on high-performance copper alloys and medical imaging equipment[23]. - R&D expenses increased to 40.71 million yuan, a year-on-year growth of 82.75%, resulting in 77 new invention patents, bringing the total to 149[36]. - The company has achieved a significant increase in R&D investment, totaling approximately ¥40.71 million, representing an 82.75% increase compared to the previous year[80]. - The company has filed 90 invention patents during the reporting period, with 77 granted, bringing the total granted patents to 149[77]. - The company is focusing on high-strength, high-conductivity copper alloy materials, which are essential for industries like new energy vehicles and 5G communications[148]. - The company is actively engaged in R&D projects, including national initiatives like the "Medical Device Material Production Application Demonstration Platform Project" and the "2020 Industrial Foundation Reconstruction and High-Quality Development Special Project"[42]. Market Expansion and Strategy - Future guidance estimates revenue growth of 10-15% for 2022, driven by market expansion and new product launches[23]. - Market expansion efforts include entering Southeast Asian markets, with a target of achieving 5% market share by the end of 2023[23]. - The company is considering strategic acquisitions to enhance its product portfolio and market presence, with potential targets identified in the medical device sector[23]. - The company is exploring strategic partnerships to leverage synergies and enhance operational efficiency[162]. - The company plans to add 40,000 tons of copper-iron and chromium-zirconium copper alloy production capacity over six years, with the first phase already under construction, emphasizing the need for effective market expansion strategies[103]. - The company is actively pursuing market expansion strategies, including potential mergers and acquisitions to enhance its competitive position[162]. Corporate Governance - The board of directors has confirmed the accuracy and completeness of the annual report, with no significant omissions or misleading statements[3]. - The board of directors was fully present at the meeting to approve the annual report[3]. - The company has established a governance structure that includes a board of directors, supervisory board, and specialized committees to enhance decision-making[155]. - The independent directors actively participated in meetings and provided objective judgments on proposals[154]. - The company maintained a transparent information disclosure policy, ensuring all shareholders had equal access to information[157]. - The company has established a modern corporate governance system to protect the rights of shareholders and creditors[188]. Risks and Challenges - The company has outlined potential risks in its business development in the report[5]. - The company is at risk of technological obsolescence if it fails to keep pace with industry advancements in new materials and manufacturing processes[101]. - The company faces risks related to the inability to commercialize new technologies or products, which could lead to unfulfilled R&D investments[102]. - The company is exposed to foreign exchange risks due to transactions with international clients, particularly in USD and EUR, which could impact revenue and profit margins[105]. - The company operates in stable growth industries, but faces risks from international political and economic changes that could impact its export-oriented products[109]. Sustainability and Social Responsibility - The company aims to achieve carbon neutrality by 2030, aligning with the national dual carbon goals[23]. - The company has been recognized as a green factory at both the provincial and national levels, emphasizing its commitment to environmental protection and sustainable development[193]. - The company actively engages in social responsibility initiatives, aiming to contribute to high-quality national development through its performance and services[192]. - The company has established a dedicated safety and environmental management department to oversee compliance with environmental regulations and standards[200]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 1,114, with 762 in the parent company and 352 in subsidiaries[179]. - The company has increased its R&D personnel from 50 to 81, with R&D personnel now accounting for 7.27% of the total workforce[91]. - Employee welfare includes regular health check-ups, holiday benefits, and food subsidies, ensuring a safe working environment[189]. - The company has a performance evaluation system for different personnel, aimed at improving skills and productivity[180]. - The company has established a scientific and effective remuneration assessment mechanism for its board members and senior management[171]. Financial Management - The company has not yet achieved profitability since its listing[3]. - The company has not proposed any capital reserve transfer to increase share capital[4]. - The company has a centralized supply chain management model, ensuring stability and efficiency in procurement and logistics across its business units[43]. - The total cost of main business increased by 54.46% year-on-year, with direct materials accounting for 69.97% of total costs[123]. - The company’s financial expenses increased by 5.29% to ¥25,492,454.00 compared to the previous year[132].

Financial Performance - The company reported a revenue of RMB 1.2 billion for the fiscal year 2023, representing a year-over-year growth of 15%[16]. - The company's operating revenue for 2023 reached approximately ¥1.18 billion, representing an 18.71% increase compared to ¥993.61 million in 2022[25]. - Net profit attributable to shareholders for 2023 was approximately ¥98.34 million, a 26.04% increase from ¥78.03 million in 2022[25]. - Basic earnings per share (EPS) for 2023 was ¥0.1756, reflecting a 22.88% increase from ¥0.1429 in 2022[24]. - The net cash flow from operating activities surged by 227.56% to approximately ¥168.57 million in 2023, compared to ¥51.46 million in 2022[25]. - The gross margin for the year was reported at 35%, a slight increase from 32% in the previous year[16]. - The company achieved a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% growth compared to the previous year[169]. - The company reported a year-on-year revenue growth of 15% in the latest fiscal year, reaching a total revenue of 1.2 billion RMB[171]. Dividend and Share Capital - The company plans to distribute a cash dividend of 0.80 CNY per 10 shares, totaling approximately 44.62 million CNY, which represents 48.31% of the net profit attributable to shareholders for 2023[4]. - The company intends to increase its share capital by 3 shares for every 10 shares held, resulting in an additional 167.32 million shares, raising the total share capital to approximately 727.34 million shares[5]. - The company has established a cash dividend policy that ensures a minimum of 30% of the average distributable profit over the last three years is distributed in cash[196]. - The company plans to increase its total share capital by 167,323,890 shares through a capital reserve transfer, raising the total share capital to 727,337,890 shares[198]. Research and Development - The company is investing RMB 100 million in R&D for new technologies in medical imaging equipment, aiming for a 15% improvement in imaging quality[16]. - R&D expenses for the period amounted to 59.45 million yuan, reflecting a year-on-year increase of 15.19%[42]. - The total R&D investment for the year reached ¥59,453,024.91, representing a 15.19% increase compared to the previous year[90]. - The company is focusing on personalized R&D services to meet the unique needs of its customers, driving innovation through collaboration with benchmark clients[53]. - The company has developed a series of advanced core technologies in high-strength, high-conductivity copper alloys, high-voltage contact materials, and other specialized fields, with multiple patents granted[70]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in sales from this region by 2025[16]. - The company is committed to expanding its international business, particularly in the medical imaging equipment sector, to enhance its market presence[37]. - The company is actively pursuing overseas acquisitions and enhancing its global industrial layout, particularly in Thailand[153]. - The company is focusing on advanced technologies such as 3D printing and cold spraying to enhance its production capabilities[154]. - The company is accelerating the investment in the liquid rocket engine thrust chamber materials project to meet rapidly growing market demands[154]. Governance and Compliance - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy and completeness of the financial report[6]. - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[6]. - The company has not reported any special arrangements in corporate governance[6]. - The company has not faced any significant adverse impacts from competition with its controlling shareholder[158]. - All proposals presented at the shareholder meetings were approved without any rejections[158]. Risks and Challenges - The company has identified potential risks in its business development, which investors should be aware of[7]. - The company is exposed to risks from raw material price fluctuations, particularly copper, which could adversely affect operational performance if not managed effectively[110]. - The company faces risks related to the inability to digest new production capacity from projects that have been completed, which may affect market expansion and sales capabilities[109]. - The company must monitor the emergence of new technologies and materials, such as cobalt-based high-temperature alloys, which could impact demand for its high-performance chromium products[114]. Employee and Management Changes - The company has a R&D team of 98 members, constituting 8.15% of total employees, highlighting the importance of maintaining technical talent and partnerships with research institutions[107][108]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 6.5055 million RMB[177]. - Wang Wenbin resigned as General Manager due to the company's development strategy needs[178]. - Zhang Hang was appointed as General Manager to align with the company's development strategy[178]. Operational Efficiency - The company has initiated a sustainability strategy aimed at achieving carbon neutrality by 2030, with an investment of RMB 50 million allocated for this purpose[16]. - The company is focusing on enhancing its digital transformation to improve operational efficiency and product quality[27]. - Operational efficiency improvements have reduced costs by 5%, contributing to higher profit margins[169].

证券代码：688102 证券简称：斯瑞新材 公告编号：2025-006 公司持股 5%以上股东、董事盛庆义先生及其一致行动人深圳市乐然科技开 发有限公司自愿承诺自 2025 年 3 月 16 日起未来 12 个月内（即 2025 年 3 月 16 日至 2026 年 3 月 16 日期间）不以任何方式减持所直接持有的公司股份。盛庆义 持有的公司股份数量为 64,633,733 股，占公司总股本的比例为 8.89%；深圳市 乐然科技开发有限公司持有的公司股份数量为 42,076,880 股，占公司总股本的 比例为 5.79%。 陕西斯瑞新材料股份有限公司 关于控股股东、实际控制人、董事长 及持股 5%以上股东、董事与其一致行动人自愿承诺 不减持的公告 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。 陕西斯瑞新材料股份有限公司（以下简称"公司"或"斯瑞新材"）近日收 到公司控股股东、实际控制人、董事长、核心技术人员王文斌先生，公司持股 5%以上股东、董事盛庆义先生与其一致行动人深圳市乐然科技开发有限公司分别 出具的《关于自愿不减 ...

证券代码：688102 证券简称：斯瑞新材 公告编号：2025-005 陕西斯瑞新材料股份有限公司 首次公开发行限售股上市流通公告 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。 重要内容提示： 本次股票上市类型为首发限售股份；股票认购方式为网下，上市股数为 309,052,242 股。限售期为陕西斯瑞新材料股份有限公司（以下简称"斯瑞新材" 或"公司"）上市之日（2022 年 3 月 16 日）起 36 个月。 本次股票上市流通总数为 309,052,242 股。 本次股票上市流通日期为 2025 年 3 月 17 日。（因 2025 年 3 月 16 日为非 交易日，故顺延至下一交易日）。 一、本次上市流通的限售股类型 二、本次上市流通的限售股形成后至今公司股本数量变化情况 2023 年 5 月 17 日，公司召开 2022 年年度股东大会，审议通过了《关于公司 根据中国证券监督管理委员会于 2022 年 1 月 21 日出具的《关于同意陕西斯 瑞新材料股份有限公司首次公开发行股票注册的批复》（证监许可〔2022〕16 ...

海通证券股份有限公司(以下简称"海通证券"或"保荐机构")作为陕西 斯瑞新材料股份有限公司(以下简称"斯瑞新材"或"公司")首次公开发行股 票并在科创板上市持续督导保荐机构,根据《证券发行上市保荐业务管理办法》 《上海证券交易所科创板股票上市规则》等有关法律法规和规范性文件的要求, 对公司首次公开发行限售股上市流通的事项进行了核查,具体情况如下: 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于2022年1月21日出具的《关于同意陕西斯瑞 新材料股份有限公司首次公开发行股票注册的批复》(证监许可〔2022〕162号), 同意公司首次公开发行股票的注册申请。公司首次向社会公众公开发行人民币普 通股(A股)股票40.010.000股,并于2022年3月16日在上海证券交易所科创板上 市,首次公开发行完成后总股本为400,010,000股,其中有限售条件流通股 367.166.446股,占公司发行后总股本的91.79%;无限售条件流通股32,843,554股, 占公司发行后总股本的8.21%。 海通证券股份有限公司 关于陕西斯瑞新材料股份有限公司 首次公开发行限售股上市流通的核查意见 本次上市流通的限售股 ...

Investment Rating - The report maintains a "Buy-B" rating for the company [1][7] Core Views - The company achieved a revenue of 1.33 billion yuan in 2024, representing a year-on-year increase of 12.78%, and a net profit attributable to shareholders of 117 million yuan, up 19.21% year-on-year. The growth is attributed to the company's proactive expansion into overseas markets, optimization of product structure, and contributions from new industries such as commercial aerospace [2][4] - The commercial aerospace sector is driving demand for high-temperature superconducting materials, with significant satellite deployment plans and the introduction of reusable rockets expected to enhance the industry's growth [5][6] Financial Performance - In Q4 2024, the company reported a revenue of 366 million yuan, a quarter-on-quarter increase of 7.65%, and a net profit of 39 million yuan, up 77.27% quarter-on-quarter, marking a new high for both revenue and profit in a single quarter [4] - The projected net profits for 2024, 2025, and 2026 are 117 million yuan, 151 million yuan, and 212 million yuan respectively, with corresponding P/E ratios of 62, 48, and 34 [7][10] Market Data - As of February 20, 2025, the company's closing price was 9.99 yuan, with a year-to-date high of 14.59 yuan and a low of 6.72 yuan [4] - The company has a total market capitalization of 7.266 billion yuan and a circulating A-share market value of 4.179 billion yuan [5] Industry Outlook - The global electricity demand is expected to grow steadily, with an average annual growth rate of 4% from 2025 to 2027, driven by electrification in AI, data centers, and transportation [6] - The company's mid-to-high voltage electrical contact materials are positioned for growth as they are critical materials in the power distribution industry [6]

Investment Rating - The investment rating for the company is "Buy-B" and is maintained [1][5] Core Views - The company reported a revenue of 1.33 billion yuan for 2024, representing a year-on-year increase of 12.78%, and a net profit attributable to shareholders of 117 million yuan, up 19.21% year-on-year. The growth is attributed to the company's efforts in expanding overseas markets, optimizing product structure, and the gradual contribution of new industries such as commercial aerospace [2][3] - In Q4 2024, the company achieved a revenue of 366 million yuan, a quarter-on-quarter increase of 7.65%, and a net profit of 39 million yuan, up 77.27% quarter-on-quarter, marking a new high for quarterly revenue and profit [3] - The development of commercial aerospace is driving the demand for high-temperature superconducting materials, with significant satellite deployment plans from various projects, indicating a robust growth trajectory for the industry [3] - Global electricity demand is expected to grow steadily, with an average annual growth rate of 4% from 2025 to 2027, driven by electrification in AI, data centers, and transportation sectors, which will positively impact the company's mid-to-high voltage electrical contact materials [4] Financial Performance and Forecast - The company forecasts net profits attributable to shareholders of 117 million yuan in 2024, 151 million yuan in 2025, and 212 million yuan in 2026, with corresponding P/E ratios of 62, 48, and 34 times based on the closing price of 9.99 yuan on February 20 [5][8] - Revenue projections for the company are 1.33 billion yuan in 2024, 1.70 billion yuan in 2025, and 2.14 billion yuan in 2026, reflecting growth rates of 12.8%, 28.1%, and 25.8% respectively [8][11] - The gross profit margin is expected to improve from 23.0% in 2024 to 23.9% in 2026, indicating enhanced profitability [8][11]