证券代码：688122 证券简称：西部超导 公告编号：2024-036 西部超导材料科技股份有限公司 第五届监事会第四次会议决议公告 一、监事会会议召开情况 西部超导材料科技股份有限公司（以下简称"公司"）第五届监事会第四次会 议通知已于 2024 年 12 月 5 日以电子邮件方式发出，会议于 2024 年 12 月 11 日 在公司 103 会议室以通讯方式召开，全体监事出席本次会议，会议由监事会主席 于泽铭主持。会议的召集与召开符合《中华人民共和国公司法》和《西部超导材 料科技股份有限公司章程》等相关规定，表决形成的决议合法、有效。 二、监事会会议审议情况 （一）审议通过《关于部分募集资金投资项目延期的议案》 监事会认为：公司本次部分募投项目延期，符合《上市公司监管指引第 2 号 --上市公司募集资金管理和使用的监管要求》《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 法规及公司章程的规定，不存在变相改变募集资金投向和损害公司及股东尤其是 中小股东利益的情形，符合中国证监会、上海证券交易所关于上市公司募集资金 管理的相关规定，不会对公司的正 ...

证券代码：688122 证券简称：西部超导 公告编号：2024-035 西部超导材料科技股份有限公司 第五届董事会第四次会议决议公告 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。 一、董事会会议召开情况 西部超导材料科技股份有限公司（以下简称"公司"）第五届董事会第四次会 议通知已于 2024 年 12 月 5 日以电子邮件方式发出，会议于 2024 年 12 月 11 日 在公司 103 会议室以通讯方式召开。会议应出席董事 9 名，实际出席董事 9 名， 会议由董事长冯勇先生主持。会议的召集与召开符合《中华人民共和国公司法》 和《西部超导材料科技股份有限公司章程》等相关规定，表决形成的决议合法、 有效。 二、董事会会议审议情况 （一）审议通过《关于部分募集资金投资项目延期的议案》 具体内容详见同日刊载于上海证券交易所网站（www.sse.com.cn）和指定媒 体的《西部超导材料科技股份有限公司关于部分募集资金投资项目延期的公告》 （公告编号：2024-037）。 （公告编号：2024-038）。 该议案已经公司独立 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) with a market price of 49.23 CNY per share [1]. Core Insights - The company's revenue is projected to grow from 4,159 million CNY in 2023 to 7,346 million CNY by 2026, reflecting a compound annual growth rate (CAGR) of approximately 22% [1]. - The net profit attributable to the parent company is expected to increase from 752 million CNY in 2023 to 1,367 million CNY in 2026, indicating a strong recovery and growth trajectory [1]. - The earnings per share (EPS) is forecasted to rise from 1.16 CNY in 2023 to 2.10 CNY in 2026, showcasing the company's improving profitability [1]. Financial Performance Summary - **Revenue Forecast**: - 2022A: 4,227 million CNY - 2023A: 4,159 million CNY - 2024E: 4,561 million CNY - 2025E: 6,019 million CNY - 2026E: 7,346 million CNY - Year-over-year growth rates: 44%, -2%, 10%, 32%, 22% [1][4] - **Net Profit Forecast**: - 2022A: 1,080 million CNY - 2023A: 752 million CNY - 2024E: 844 million CNY - 2025E: 1,113 million CNY - 2026E: 1,367 million CNY - Year-over-year growth rates: 46%, -30%, 12%, 32%, 23% [1][4] - **Earnings Per Share (EPS)**: - 2022A: 2.33 CNY - 2023A: 1.16 CNY - 2024E: 1.30 CNY - 2025E: 1.71 CNY - 2026E: 2.10 CNY [1][4] - **Valuation Ratios**: - Price-to-Earnings (P/E) ratio is projected to decrease from 42.5 in 2023 to 23.4 in 2026, indicating improving valuation as earnings grow [1]. - Price-to-Book (P/B) ratio is expected to decline from 5.1 in 2023 to 3.5 in 2026, reflecting a more attractive valuation over time [1]. Recent Performance Highlights - In the first three quarters of 2024, the company achieved a revenue of 32.35 billion CNY, a year-on-year increase of 4.76%, and a net profit of 6.04 billion CNY, up 3.62% year-on-year [2]. - The third quarter of 2024 saw a significant revenue increase of 24.43% year-on-year, with net profit soaring by 58.04% year-on-year [2][3]. - The gross margin improved to 37.21% in Q3 2024, up 2.04 percentage points year-on-year, indicating enhanced profitability [2][3]. Future Outlook - The company is expected to benefit from the recovery in downstream demand, with revenue projections for 2024-2026 adjusted to 45.61 billion CNY, 60.19 billion CNY, and 73.46 billion CNY respectively [3]. - The net profit forecasts for the same period have also been revised upwards to 8.44 billion CNY, 11.13 billion CNY, and 13.67 billion CNY [3].

Investment Rating - The investment rating for the company is "Buy," indicating an expected return exceeding 10% relative to the CSI 300 index over the next six months [2][11]. Core Insights - The company achieved a revenue of 3.24 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 4.8% [2]. - The net profit attributable to shareholders reached 604 million yuan, up 3.6% year-on-year, with a basic EPS of 0.93 yuan [2]. - The company plans to distribute a cash dividend of 1 yuan per 10 shares, totaling 64.966 million yuan [2]. - The third quarter revenue was 1.22 billion yuan, showing a year-on-year increase of 24.4% and a quarter-on-quarter decrease of 1.0% [2]. - The gross profit margin and net profit margin for the first three quarters of 2024 were 34.0% and 20.2%, respectively, both showing year-on-year improvements [2]. Summary by Sections Performance Overview - The company reported a total revenue of 3.24 billion yuan for the first three quarters of 2024, with a year-on-year growth of 4.8% [2]. - The net profit attributable to shareholders was 604 million yuan, reflecting a 3.6% increase year-on-year, while the net profit after deducting non-recurring items was 533 million yuan, up 4.04% year-on-year [2]. Quarterly Performance - In Q3 2024, the company achieved a revenue of 1.22 billion yuan, which is a 24.4% increase year-on-year but a slight decrease of 1.0% from the previous quarter [2]. - The net profit for Q3 was 255 million yuan, marking a significant year-on-year increase of 58.0% and a quarter-on-quarter increase of 7.2% [2]. Profitability - The gross profit margin for the first three quarters of 2024 was 34.0%, an increase of 0.78 percentage points year-on-year, while the net profit margin was 20.2%, up 0.43 percentage points year-on-year [2]. - In Q3 2024, the gross profit margin improved to 37.2%, with a quarter-on-quarter increase of 2.87 percentage points, and the net profit margin reached 24.7%, up 4.77 percentage points from the previous quarter [2]. Future Growth Potential - The company is focusing on the development of new technologies and products, adjusting production according to external demand across three product segments [2]. - The high-end titanium alloy materials have seen stable delivery since the second quarter, establishing a solid foundation for future product demand [2]. - The superconducting product segment continues to grow, with the company starting bulk supply for the BEST fusion project [2].

Investment Rating - The report maintains a "Recommended" rating for the company [4]. Core Views - The company has shown continuous rapid growth in superconducting products and steady recovery in high-end titanium alloy demand. The revenue for the first three quarters of 2024 reached 3.235 billion yuan, a year-on-year increase of 4.76%, with a net profit attributable to shareholders of 604 million yuan, up 3.62% year-on-year [2][3]. - The company is expanding its market for superconducting products, which are expected to continue growing in applications across various sectors such as semiconductors, photovoltaics, medical, and power [2]. - The high-end titanium alloy segment has maintained a solid market position, with significant progress in applications for helicopters, commercial aircraft, and gas turbines, establishing a good foundation for expanding product applications and new markets [2]. - The company has received supply qualifications for several key models of aerospace engines and gas turbine high-temperature alloy materials, with production capacity gradually increasing [2]. - The company plans to distribute a cash dividend of 1 yuan per 10 shares, reflecting confidence in its development [2]. Summary by Sections Financial Performance - For Q3 2024, the company achieved a revenue of 1.215 billion yuan, a year-on-year increase of 24.43%, and a net profit of 255 million yuan, up 58.04% year-on-year [2]. - The gross margin for the first three quarters of 2024 was 33.98%, an increase of 0.78 percentage points year-on-year, with Q3 gross margin at 37.21%, up 2.87 percentage points quarter-on-quarter [2]. - The company’s contract liabilities increased significantly by 76% year-on-year, reaching approximately 191 million yuan, driven by the rapid growth in superconducting demand [2]. Future Projections - The company is expected to see net profits attributable to shareholders of 816 million yuan, 950 million yuan, and 1.106 billion yuan for 2024, 2025, and 2026 respectively, with corresponding PE ratios of 40, 34, and 30 [3][5]. - The projected revenue growth rates for the next few years are 7.3% for 2024, 17.5% for 2025, and 18.4% for 2026 [5]. Market Position - The company holds a leading position in high-end titanium alloy rods and wires, superconducting products, and high-performance high-temperature alloys, with future growth expected as new projects come online [2].

西部超导材料科技股份有限公司 第五届董事会独立董事专门会议第二次会议决议 西部超导材料科技股份有限公司(以下简称"公司")于2024 年10月30日召开第五届董事会独立董事专门会议第二次会议。应到独 立董事3名,实到独立董事3名,出席委员为张俊瑞、风建军、苗冰。 本次会议的召集、召开符合《公司法》及公司章程的有关规定。经与 会委员审议,做出以下决议: 审议通过《关于公司2024年前三季度利润分配方案的议案》 表决结果:同意票3票,反对票0票,穿权票0票。 (以下无正文,下接签署页) (此页无正文,为《西部超导材料科技股份有限公司第五届董事会独 立董事专门会议第二次会议决议》之签署页) S 签字: 凤建里 签字: 凤建军 答字: 苗 冰 外有限公司 西音 9408024年10月30日 张俊瑞 委员签字: ...

重要内容提示： 一、利润分配方案内容 每股分配比例：A 股每股派发现金红利 0.10 元（含税）。 本次利润分配以实施权益分派股权登记日登记的总股本为基数，具体日 期将在权益分派实施公告中明确。 在实施权益分派的股权登记日前公司总股本发生变动的，公司拟维持现 金分红总额不变，相应调整每股现金分红金额。 本次利润分配方案经公司第五届董事会第三次会议、第五届监事会第三 次会议审议通过，尚需提交股东大会审议。 证券代码：688122 证券简称：西部超导 公告编号：2024-034 西部超导材料科技股份有限公司 关于 2024 年前三季度利润分配方案的公告 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。 （三）监事会意见 本次利润分配方案尚需提交股东大会审议。 截至 2024 年 9 月 30 日，西部超导材料科技股份有限公司（以下简称"公司"） 母公司期末可供分配利润为人民币 1,897,230,511.89 元（以上财务数据未经审计）。 公司 2024 年前三季度拟以实施权益分派股权登记日登记的总股本为基数分配利 润。本次利润 ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥1,214,691,625.72, representing a year-on-year increase of 24.43%[2] - Net profit attributable to shareholders for Q3 2024 was ¥255,169,603.15, up 58.04% compared to the same period last year[2] - The net profit after deducting non-recurring gains and losses for Q3 2024 was ¥221,511,811.18, reflecting a 58.46% increase year-on-year[2] - Basic and diluted earnings per share for Q3 2024 were both ¥0.39, an increase of 56.00% compared to the previous year[4] - The net profit for Q3 2024 reached CNY 652,741,450.66, an increase of 7.2% compared to CNY 609,757,907.29 in Q3 2023[21] - The total comprehensive income for Q3 2024 was CNY 652,741,450.66, up from CNY 610,102,950.76 in the same period last year[22] - Basic and diluted earnings per share for Q3 2024 were both CNY 0.93, compared to CNY 0.90 in Q3 2023, reflecting a 3.3% increase[22] - The company reported a total revenue from sales and services of CNY 2,685,785,138.56 for the first three quarters of 2024, compared to CNY 2,450,701,062.83 in the same period of 2023, indicating a growth of 9.6%[23] Assets and Liabilities - Total assets as of the end of Q3 2024 amounted to ¥12,677,388,071.84, a 4.91% increase from the end of the previous year[4] - The company's total assets as of the end of the third quarter of 2024 were CNY 12,677,388,071.84, up from CNY 12,084,145,162.07 at the end of the same period in 2023, representing a growth of 4.91%[18] - Total liabilities increased to CNY 5,597,444,509.90 in the third quarter of 2024, compared to CNY 5,347,932,623.35 in 2023, marking a rise of 4.66%[18] - The equity attributable to shareholders of the parent company reached CNY 6,523,998,754.50, compared to CNY 6,324,775,772.15 in the previous year, reflecting an increase of 3.15%[18] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date period was ¥155,894,212.76, reflecting an increase in cash received from operations compared to the previous year[4] - Cash flow from operating activities for the first three quarters of 2024 was CNY 155,894,212.76, a significant recovery from a negative cash flow of CNY -219,941,340.33 in the same period last year[24] - Cash inflow from investment activities in Q3 2024 was CNY 6,441,525,557.28, while cash outflow was CNY 6,246,082,546.81, resulting in a net cash flow of CNY 195,443,010.47[24] - The company's cash and cash equivalents amounted to CNY 1,375,655,261.40, a decrease of 7.2% from CNY 1,482,406,631.72 at the end of 2023[16] - The cash and cash equivalents at the end of Q3 2024 were CNY 1,210,645,410.34, an increase from CNY 736,624,025.79 at the end of Q3 2023[25] Research and Development - R&D expenses for Q3 2024 totaled ¥50,469,550.11, a decrease of 33.37% compared to the same period last year[4] - The proportion of R&D expenses to operating revenue for Q3 2024 was 4.15%, down 3.61 percentage points year-on-year[4] - Research and development expenses amounted to CNY 232,011,355.22 in the first three quarters of 2024, compared to CNY 208,188,126.26 in 2023, indicating an increase of 11.43%[20] Shareholder Information - The top shareholder, Northwest Nonferrous Metal Research Institute, holds 136,151,200 shares, accounting for 20.96% of total shares[12] - The second-largest shareholder, CITIC Metal Co., Ltd., owns 77,250,613 shares, representing 11.89% of total shares[12] - There were no changes in the top 10 shareholders participating in margin trading and securities lending during the reporting period[12] - The company has not identified any related party relationships among its major shareholders[12] Other Notable Information - The company received government subsidies amounting to ¥45,819,272.70 during Q3 2024, contributing to the increase in net profit[5] - The weighted average return on equity for Q3 2024 was 3.99%, an increase of 1.33 percentage points compared to the previous year[4] - The company reported a significant increase in accounts receivable, which may indicate improved sales performance or extended credit terms[16] - The company has not disclosed any new strategies or product developments during the reporting period[16] - The company's accounts receivable increased significantly to CNY 3,146,685,666.98, up from CNY 2,059,353,671.97, reflecting a growth of 52.7%[16] - Inventory levels rose to CNY 3,631,090,270.93, compared to CNY 3,342,296,565.91, indicating an increase of 8.6%[16] - Total current assets reached CNY 9,888,404,893.54, representing an increase of 4.2% from CNY 9,493,159,531.53 at the end of 2023[16] - The company's long-term borrowings decreased to CNY 948,131,258.00 from CNY 1,535,162,000.00 in the previous year, indicating a reduction of 38.25%[18] - Deferred income tax assets increased to CNY 112,661,049.62 from CNY 101,325,100.85, representing an increase of 11.73%[18]

中信建投证券股份有限公司 关于西部超导材料科技股份有限公司 部分募投项目结项并将节余募集资金永久补充流动资金的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券""保荐机构"）作为西部 超导材料科技股份有限公司（以下简称"西部超导""公司"）2021 年度向特定对象 发行股票并在科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上市 公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》《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》等有关规定，对西部超导部分募投项目结项并将节余募集资金永久补充流动资金 的事项进行了审慎核查，并发表意见如下： 本次结项的募集资金投资项目为"高性能超导线材产业化项目"（以下简称"本项 目"），本项目已于2024年4月30日建设完成并达到预期的产能目标。截至2024年9月30日， 本项目预计节余募集资金77,740,414.78元，募集资金使用及节余具体情况如下： 一、募集资金基本情况 根据中国证券监督管理委员会于 2021 年 11 月 23 日出具的《关于同意西部超导材 料科技股份有限公司向 ...

证券代码：688122 证券简称：西部超导 公告编号：2024-033 西部超导材料科技股份有限公司 关于部分募投项目结项并将节余募集资金 永久补充流动资金的公告 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。 西部超导材料科技股份有限公司（以下简称"公司"）于 2024 年 10 月 30 日 召开了第五届董事会审计委员会第一次会议、第五届董事会第三次会议、第五 届监事会第三次会议，审议通过了《关于部分募投项目结项并将节余募集资金 永久补充流动资金的议案》。同意公司将募投项目之"高性能超导线材产业化项 目"（以下简称"本项目"）予以结项，并将节余募集资金永久补充流动资金。 本事项无需提交公司股东大会审议，保荐机构对本事项出具了无异议的核查意 见。具体情况如下： 一、募集资金基本情况 根据中国证券监督管理委员会于 2021 年 11 月 23 日出具的《关于同意西部 超导材料科技股份有限公司向特定对象发行股票注册的批复》（证监许可﹝2021﹞ 3709 号），本公司向特定对象发行普通股（A 股）22,774,069 股，每 ...