证券代码：688234 证券简称：天岳先进 公告编号：2024-064 山东天岳先进科技股份有限公司 关于召开 2024 年半年度业绩说明会的公告 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。 重要内容提示： 1、会议召开时间：2024 年 9 月 18 日（星期三）上午 9:00-10:00 2 、 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 一、说明会类型 本次业绩说明会以网络互动形式召开，公司将针对 2024 年上半年度经营成 果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围 内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 （一）会议召开时间：2024 年 9 月 18 日（星期三）上午 9:00-10:00 （二）会议召开地点： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） （三）会议 ...

山东天岳先进科技股份有限公司 投资者关系活动记录表 证券简称：天岳先进 证券代码：688234 编号：2024-002 | --- | --- | --- | --- | |-----------------------------|----------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

Investment Rating - The investment rating for the company is "Outperform the Market" [1][4][16] Core Views - The company has achieved continuous revenue growth for nine consecutive quarters, with a 2Q24 revenue of 486 million yuan, representing a year-over-year increase of 98.5% and a quarter-over-quarter increase of 14.1% [1] - The gross profit margin has been steadily increasing, reaching 23.97% in 2Q24, which is a year-over-year increase of 13.28 percentage points and a quarter-over-quarter increase of 2.05 percentage points [1] - The company has signed new long-term cooperation agreements with leading global companies such as Infineon and Bosch, enhancing its delivery capabilities and customer base [1] - The Shanghai Lingang factory has improved delivery quality, contributing to a positive feedback loop between customer relationships and technological advancements [1] - The company is expected to maintain a leading position in the conductive silicon carbide substrate market, with projected net profits of 228 million, 381 million, and 552 million yuan for 2024-2026 [1][2] Financial Forecasts - The company’s revenue is projected to grow significantly, with estimates of 2.16 billion yuan in 2024, 3.04 billion yuan in 2025, and 4.20 billion yuan in 2026, reflecting growth rates of 73%, 40.6%, and 37.9% respectively [2][13] - The gross profit margin is expected to improve to 24.24% in 2024, 25.17% in 2025, and 27.23% in 2026 [13][14] - The company’s net profit is forecasted to turn positive in 2024, with a significant increase in subsequent years [2][14]

天岳先进(688234.SH)/电子 证券研究报告/公司点评 2024 年 8 月 28 日 [Table_Title] 评级：买入（维持） [Table_Finance 公司盈利预测及估值 1] [Table_Industry] | --- | --- | --- | --- | --- | --- | --- | |------------------------------|------------------------------|-----------|----------|---------------------|---------|--------| | 市场价格：46.85 元/股 | 指标 | 2022A | 2023A | 2024E | 2025E | 2026E | | 分析师：王芳 | 营业收入（百万元） | 417 | 1,251 | 2,410 | 3,450 | 5,000 | | 执业证书编号：S0740521120002 | 增长率 yoy% 净利润（百万元） | -16% -175 | 200% -46 | 93% 147 | 43% 374 | 45%559 | | ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [4][10]. Core Views - The company reported a significant increase in revenue and profitability in the first half of 2024, achieving operating income of 9.12 billion yuan, a year-on-year increase of 108.27%, and a net profit of 1.02 billion yuan [4][5]. - The silicon carbide industry is entering a rapid development phase, with the company leveraging its competitive advantages in key segments of the supply chain [4][5]. - The demand for high-quality conductive silicon carbide substrates is strong in international markets, with over 50% of the top ten global power semiconductor companies becoming clients [4][5]. - The company is focusing on enhancing its research and development capabilities, particularly in the preparation of silicon carbide substrates, to strengthen its technological moat [4][5]. Summary by Sections Financial Performance - In 2024 H1, the company's gross margin improved significantly to 23.01%, an increase of 11.71 percentage points compared to the same period in 2023 [4]. - The core business of silicon carbide substrates generated revenue of 7.53 billion yuan, a year-on-year increase of 102.27%, with a product gross margin of 27.36% [4][5]. Market Outlook - The global silicon carbide device market is expected to reach 8.906 billion USD by 2028, driven by trends in energy electrification and decarbonization [4]. - The company is positioned to lead the domestic market for 8-inch silicon carbide substrates, having achieved mass production capabilities at its Shanghai Lingang factory [4][5]. Profit Forecast - The company's projected net profits for 2024-2026 are adjusted to 2.44 billion yuan, 4.13 billion yuan, and 5.82 billion yuan, with year-on-year growth rates of 634.45%, 68.86%, and 41.17% respectively [4][5].

投资评级:增持(维持) 核心观点 | --- | --- | |------------------------|------------| | 基本数据 | 2024-08-23 | | 收盘价 ( 元 ) | 47.25 | | 流通股本 ( 亿股 ) | 2.64 | | 每股净资产 ( 元 ) | 12.16 | | 总股本 ( 亿股 ) | 4.30 | | 最近 12 月市场表现 | | -25% -10% 4% 18% 33% 47% 天岳先进 沪深300 半导体 分析师 张益敏 SAC 证书编号：S0160522070002 zhangym02@ctsec.com 分析师 吴姣晨 SAC 证书编号：S0160522090001 wujc01@ctsec.com 相关报告 1. 《800V SiC 密集上车，产能完成调整 业绩现拐点》 2024-01-03 天岳先进(688234) / 半导体 / 公司点评 / 2024.08.23 8 英寸产线助力公司毛利率仍有上行空间 证券研究报告 ❖ 事件：公司发布 2024 半年报，预计实现营收 9.12 亿元，同比+108.27%；归 母净利润 1.0 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company's revenue for the first half of 2024 reached 912 million yuan, representing a year-on-year growth of 108.27%, with Q2 revenue of 486 million yuan, up 98.49% year-on-year and 14.10% quarter-on-quarter [3] - The gross margin for H1 2024 was 23.01%, an increase of 11.71 percentage points year-on-year, while Q2 gross margin was 23.97%, up 13.28 percentage points year-on-year and 2.05 percentage points quarter-on-quarter [3] - The net profit attributable to shareholders for H1 2024 was 102 million yuan, marking a turnaround from loss to profit, with Q2 net profit of 56 million yuan, also a turnaround from loss and a 21.02% increase quarter-on-quarter [3] - The company has maintained revenue growth for nine consecutive quarters, with its Shanghai Lingang factory achieving an annual production capacity of 300,000 conductive substrates [4] - The company has established strong partnerships with leading domestic and international manufacturers, enhancing its production capacity and delivery capabilities [4] - The company has become one of the top three global players in the conductive silicon carbide substrate market, with significant recognition from major international clients [5] Summary by Sections Financial Performance - The company achieved a revenue of 912 million yuan in H1 2024, with a growth rate of 108.27% year-on-year [3] - The gross margin improved to 23.01% in H1 2024, reflecting operational efficiency [3] - The net profit for H1 2024 was 102 million yuan, indicating a successful turnaround [3] Market Position - The company has secured a leading position in the conductive silicon carbide substrate market, with over 50% of the top ten power semiconductor companies as clients [5] - The company has signed long-term cooperation agreements with major clients like Infineon and Bosch, enhancing its market presence [4] Production Capacity - The Shanghai Lingang factory has reached a production capacity of 300,000 conductive substrates annually, supporting the company's growth strategy [4] - The company is advancing its 8-inch silicon carbide substrate production plans, aiming for significant market penetration [5] Future Projections - Revenue forecasts for 2024-2026 are 2.356 billion yuan, 3.336 billion yuan, and 4.313 billion yuan respectively, with net profits projected at 234 million yuan, 355 million yuan, and 579 million yuan [6][7] - The company is expected to maintain a strong growth trajectory, leveraging its technological and production advantages [5]

证券代码：688234 证券简称：天岳先进 公告编号：2024-061 山东天岳先进科技股份有限公司 关于变更职工代表监事的公告 本公司监事会及全体监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。 山东天岳先进科技股份有限公司（以下简称"公司"）监事会于近日收到公司 职工代表监事周敏女士提交的辞职报告。周敏女士因工作调整原因申请辞去公司 职工代表监事职务，辞职后将继续在公司任职。 截至本公告披露日，周敏女士通过持有国泰君安君享科创板天岳先进 1 号战 略配售集合资产管理计划 2.8011%的份额间接持有公司股份。周敏女士在任职期 间恪尽职守、勤勉尽责，公司对其在职期间为公司发展所做出的贡献表示衷心感 谢！ 为保障公司监事会的规范运作，根据《中华人民共和国公司法》《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》等相关规定，公司 于 2024 年 8 月 22 日召开职工代表大会，选举窦文涛先生为公司第二届监事会职 工代表监事（简历详见附件），任期自本次 ...

2024 年半年度报告 公司代码：688234 公司简称：天岳先进 山东天岳先进科技股份有限公司 2024 年半年度报告 1 / 190 2024 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 公司已在本报告中详细阐述在经营过程中可能面临的各种风险及应对措施，敬请查阅本报告 第三节"管理层讨论与分析"之五"风险因素"。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人宗艳民、主管会计工作负责人 Teo Nee Chuan 及会计机构负责人（会计主管人 员）游樱声明：保证半年度报告中财务报告的真实、准确、完整。 六、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 七、 是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、 前瞻性陈述的风险声明 √适用 □不适用 本报告涉及未来计划等前瞻性陈述，不构成公司对投资者的实质性承诺，敬请投资者注意投 资风险。 九、 是否存在被控股股东及其他关联方非经营性 ...

证券代码：688234 证券简称：天岳先进 公告编号：2024-059 山东天岳先进科技股份有限公司 2024 年半年度募集资金存放与实际使用情况专项报告 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。 根据中国证监会《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上市公司自律监管指引第 1 号——规范 运作》和《上海证券交易所科创板股票上市规则》等相关规定，山东天岳先进科 技股份有限公司（以下简称"公司"、"天岳先进"）董事会编制了 2024 年半年度 （以下简称"报告期"、"本报告期"）募集资金存放与实际使用情况专项报告， 具体情况如下： 一、 募集资金基本情况 （一）实际募集资金金额、资金到账时间 根据中国证券监督管理委员会《关于同意山东天岳先进科技股份有限公司首 次公开发行股票注册的批复》（证监许可〔2021〕3935 号），公司首次公开发行人 民币普通股（A 股）42,971,105 股，全部为公开发行新股。每股面值人民币 1.00 元，每股发行价格为人民币 82.7 ...