一、 会议召开和出席情况 （一） 股东大会召开的时间：2024 年 4 月 19 日 （二） 股东大会召开的地点：公司综合楼三楼 309 会议室（江苏省连云港市海 州区新浦经济开发区珠江路 6 号） （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： 证券代码：688300 证券简称：联瑞新材 公告编号：2024-018 江苏联瑞新材料股份有限公司 2023 年年度股东大会决议公告 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 1、本次股东大会所采用的表决方式是现场投票和网络投票相结合的方式。 2、本次会议由公司董事会召集，公司董事长李晓冬先生主持。本次会议的召集 和召开程序、表决方式和表决程序均符合《公司法》及公司章程的规定，会议合 法有效。 （五） 公司董事、监事和董事会秘书的出席情况 1、 公司在任董事 7 人，出席 6 人，董事曹家凯先生因工作原因未能出席本次会 议； 2、 公司在任监事 3 人，出席 3 人； 3、 董事会 ...

广州市天河区珠江东路 32 号利通广场 29 楼 2901 室 邮编/Zip Code:510623 电话/Tel:86-020-37392666 传真/Fax:86-020-37392826 电子邮箱/E-mail：kdgzlaw@163.com 北京 天津 上海 深圳 广州 西安 沈阳 南京 杭州 海口 菏泽 成都 苏州 呼和 长沙 厦门 郑州 香港 武汉 合肥 重庆 北京市康达（广州）律师事务所 关于江苏联瑞新材料股份有限公司 2023 年年度股东大会的法律意见书 康达股会字【2024】第 0187 号 致：江苏联瑞新材料股份有限公司 法律意见书 北京市康达（广州）律师事务所（下称"本所"）接受江苏联瑞新材料股份有 限公司（下称"联瑞新材"或"公司"）委托，指派律师见证公司 2023 年年度股东 大会。本所指派律师现场出席会议并对本次会议进行见证。根据《中华人民共和 国公司法》（下称"《公司法》"）、《中华人民共和国证券法》（下称"《证券 法》"）、《上市公司股东大会规则》（下称"《股东大会规则》"）等法律、法 规、规范性文件以及《江苏联瑞新材料股份有限公司章程》（下称"联瑞新材《公 司章程》"）的规定 ...

联瑞新材(688300) | --- | --- | --- | --- | --- | |-------------------------|--------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

江苏联瑞新材料股份有限公司 2023 年年度股东大会会议资料 证券代码：688300 证券简称：联瑞新材 江苏联瑞新材料股份有限公司 2023 年年度股东大会会议资料 2024 年 4 月 现场要求发言的股东及股东代理人，应当按照会议的议程举手示意，经会议 主持人许可方可发言。有多名股东及股东代理人同时要求发言时，先举手者先发 言；不能确定先后时，由主持人指定发言者，并且临时要求发言的股东安排在登 记发言的股东之后。会议进行中只接受股东及股东代理人发言或提问。股东及股 东代理人发言或提问应围绕本次会议议题进行，简明扼要，时间不超过5分钟。 六、股东及股东代理人要求发言时，不得打断会议报告人的报告或其他股东 及股东代理人的发言。在股东大会进行表决时，股东及股东代理人不再进行发言。 股东及股东代理人违反上述规定，会议主持人有权加以拒绝或制止。 江苏联瑞新材料股份有限公司 2023 年年度股东大会会议资料 江苏联瑞新材料股份有限公司 2023 年年度股东大会会议须知 为了维护全体股东的合法权益，确保股东大会会议秩序和议事效率，保证股 东大会的顺利召开，根据《中华人民共和国公司法》、《中华人民共和国证券法》、 《上市 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 56.43 CNY [11][21]. Core Views - The company is expected to benefit from the recovery in semiconductor demand and the optimization of its production capacity structure. The performance in 2023 met expectations, with revenue of 7.12 billion CNY, a year-on-year increase of 7.51%, and a net profit of 1.74 billion CNY, a decrease of 7.57% year-on-year [11][21]. - The demand for high-end packaging products is anticipated to grow rapidly due to the increasing computational power requirements [11][21]. Financial Summary - The company achieved a revenue of 7.12 billion CNY in 2023, with a year-on-year growth of 7.51% and a net profit of 1.74 billion CNY, reflecting a year-on-year decline of 7.57% [11][21]. - The report forecasts revenues of 8.84 billion CNY in 2024, 10.44 billion CNY in 2025, and 11.37 billion CNY in 2026, indicating a positive growth trajectory [21]. - The net profit is projected to reach 2.34 billion CNY in 2024, 2.87 billion CNY in 2025, and 3.25 billion CNY in 2026 [21]. Market Position and Industry Outlook - The company is positioned as a leading manufacturer of silicon micro-powder in China, focusing on high-end products that are in demand across various industries, including electronics and aerospace [21]. - The report highlights that the global advanced packaging market is expected to grow at a CAGR of 24.31% from 2022 to 2028, which will benefit the company significantly [11][21].

联瑞新材(688300) 太 平 洋 证 券 股 份 有 限 公 司 证 券 研 究 报 告 打破海外垄断，不断拓宽品类，持续建设产能，随着项目逐步落地， 公司龙头地位进一步巩固。并且随着半导体行业修复，AI、5G、先进 封装等发展拉动高新材料需求，公司业绩有望进一步增长。我们预测 2024-2026 年归母净利润分别为 2.38 亿、2.92 亿、3.41 亿，对应当 前 PE 分别为 33 倍、27 倍、23 倍，予以"买入"评级。 2024 年 04 月 07 日 公司点评 买入/首次 | --- | --- | --- | |-----------------------------------------------------------------------------------|--------------------|----------------------------------------------------------------------------------------------------------------------------------------- ...

[Table_StockInfo] 2024 年 04 月 03 日 证券研究报告•2023 年报点评 买入 （首次） 当前价：42.37 元 联瑞新材（688300）基础化工 目标价：52.08 元（6 个月） [Table_Summary 事件：公司发布] 2023年年报，全年公司实现营业收入 7.1亿元，同比增长 7.5%， 实现归属于母公司所有者的净利润 1.7亿元，同比下降 7.6%，实现归属于母公 司所有者的扣除非经常性损益的净利润 1.5亿元，同比上升 0.2%；实现基本每 股收益 0.94 元，同比下降 6.9%。 高附加值球形硅微粉占比提升，驱动业绩改善。公司全年营收稳步增长，原因 是下半年开始消费电子终端需求缓慢复苏，加之公司积极推动产品结构转型升 级，高端产品占比提升，营业收入有所增长。归母净利润同比下滑 7.6%，原因 是，研发费用增加、汇兑收益减少、折旧费用增加等因素所致。分业务看，2023 年公司角形无机粉体销量 7.1万吨，同比上升 3%，实现营收 2.3亿元，同比上 升 0.6%，毛利率 32.8%，同比降低 2.7pp；球形无机粉体销量 2.6 万吨，同比 上升 8.4%，实 ...

Investment Rating - The investment rating for the company is "Buy" and maintained [24][8]. Core Insights - The company reported a revenue of 710 million yuan in 2023, representing a year-on-year growth of 7.51%, while the net profit attributable to the parent company was 170 million yuan, a decrease of 7.57% year-on-year [24]. - The company is experiencing a structural optimization of its product offerings, with a focus on high-end products, which has contributed to revenue growth despite challenges in the supply chain [24][25]. - The global advanced packaging market is projected to grow significantly, providing new growth opportunities for the company, particularly in high-density packaging materials and specialized silicon powders [7][8]. Financial Performance Summary - In Q4 2023, the company achieved a revenue of 200 million yuan, reflecting a year-on-year increase of 15.3% and a quarter-on-quarter growth of 2% [25]. - The sales volume of angular products was 70,600 tons, up 3.02% year-on-year, while spherical products saw a sales volume of 25,800 tons, an increase of 8.37% year-on-year [6]. - The gross margin for angular products was 32.75%, down 2.66 percentage points year-on-year, while spherical products had a gross margin of 46.22%, up 3.17 percentage points year-on-year [6]. Product Development and Market Trends - The company is actively launching new products tailored for emerging trends in various sectors, including EMC, LMC, and high-frequency circuit boards, which are expected to enhance its market position [26]. - The demand for spherical silicon powder and high-purity spherical alumina powder is increasing, driven by advancements in communication devices, consumer electronics, and automotive electronics [7].

数据来源：Wind，华龙证券研究所 ➢ 盈利预测简表 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------|--------|-------------------------------|------------------------|--------|----------------------------------------------------------------|-------|---------------------------------|-------|-------| | 表：公司财务预测表 财务和估值数据摘要 \n单位:百万元 | | | | | 资产负债表 \n2023A 2024E 2025E 2026E 2023A 2024E 2025E 2026E | | | | | | 营业收入 | 711.68 | | 908.59 1142.86 1311.24 | | 货币资金 | | 189.39 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 41.77 CNY [1][2]. Core Insights - The company achieved a record high quarterly revenue in Q4 2023, with a revenue of 201 million CNY, representing a year-on-year growth of 15.33% and a quarter-on-quarter growth of 2.08% [1]. - The overall revenue for 2023 reached 712 million CNY, marking a year-on-year increase of 7.51%, while the net profit attributable to shareholders decreased by 7.57% to 174 million CNY due to increased R&D expenses and reduced foreign exchange gains [1][2]. - The company is focusing on the high-end spherical powder market, implementing strategies such as optimizing product layout, enhancing technological innovation, and actively expanding production capacity [1]. Financial Performance - The company’s revenue is projected to grow to 900 million CNY in 2024, 1.1 billion CNY in 2025, and 1.281 billion CNY in 2026, with growth rates of 26.4%, 22.2%, and 16.5% respectively [1][2]. - The net profit for 2024 is expected to be 240 million CNY, with a growth rate of 37.9% [2]. - The gross margin is anticipated to improve from 39.3% in 2023 to 40.0% in 2024 [1][2]. Market Position and Strategy - The company is well-positioned to benefit from the growing demand for spherical silicon micro-powder driven by advancements in 5G, AI, and advanced packaging technologies [1]. - The company has launched various specifications of low-cut point low α micron/ sub-micron spherical silicon powder and high thermal conductivity micro/ sub-micron spherical aluminum powder for new energy batteries [1]. - The company plans to invest 129 million CNY to establish a production line for ultra-fine spherical powder for advanced integrated circuits, further expanding its production capacity [1].