4月28日晚，赛特新材（688398.SH，股价14.16元，市值23.76亿元）公告，公司董事长汪坤明自愿放弃领取2025年度4月至12月的基本薪酬。 同时，公司五位高级管理人员提出自愿降低2025年度薪酬，降薪幅度为公司董事会核定的各高级管理人员基本薪酬的20%。五位高级管理人员包括董事、总 经理严浪基，副总经理邱珏，副总经理石芳录，财务总监肖远斌，副总经理、董事会秘书林宇。降薪期限为2025年4月至12月。 赛特新材表示，除上述措施外，公司还将持续加大开源节流力度，重点做好市场开拓、产品研发、自动化提升和生产成本控制等工作，全方位提升公司的运 营效率与市场竞争力，最终实现经营业绩与盈利能力的显著提升。 赛特新材2024年年报显示，2024年董事长汪坤明从公司获得的税前报酬总额为72.14万元，并且未从公司关联方获取报酬。五位高管除董事会秘书林宇外， 获得的薪酬从47万元至84万元不等。 | 姓名 | 职务 | 性 | | 任期起始日 | 任期终止日 | | | 年度内股份 | 增减变动原 | 报告期内从 公司获得的 | 是否在 公司关 | | --- | --- | --- | --- | --- | ...

赛特新材称，董事长汪坤明自愿放弃领取2025年度4月至12月的基本薪酬。 据赛特新材2024年年报，汪坤明系公司控股股东、实际控制人，持有赛特新材39.74%的股份。同时， 汪坤明还是赛特新材董事长及核心技术人员。 汪坤明系赛特新材创始人，其从上世纪90年代开始在商界摸爬滚打，历任厦门高特高新材料有限公司董 事长、厦门鹭江通风设备有限公司副董事长等。从2007年开始，汪坤明任赛特新材董事长。同时，汪坤 明还兼任中国硅酸盐学会绝热材料分会副理事长。 2024年，汪坤明从赛特新材获得的税前报酬总额约72万元。 汪坤明自愿放弃领取薪酬的同时，赛特新材多位高级管理人员自愿降薪。赛特新材表示，降薪人员包括 公司董事、总经理严浪基，副总经理邱珏，副总经理石芳录，财务总监肖远斌，副总经理、董事会秘书 林宇。 "降薪幅度为公司董事会核定的各高级管理人员基本薪酬的20%，降薪期限为2025年4月至12月。"赛特 新材称。 4月28日，赛特新材（SH688398，股价14.16元，市值23.76亿元）公告称，其董事长自愿放弃领薪，高 级管理人员自愿降薪。 赛特新材2024年年报显示，上述人员中2024年度薪酬最高的是邱珏，约84 ...

重要公告： 福田汽车：拟不超25亿元参与认购北汽蓝谷定增股份 中国石化：一季度净利润132.64亿元同比下降27.6% 沪市重要公告： 药明康德：一季度净利润36.72亿元同比增长89.06% 中金公司：一季度净利润20.42亿元同比增长64.85% 赛特新材：董事长自愿放弃领薪高管人员自愿降薪 上海医药：一季度净利润13.33亿元同比下降13.56% 上海医药（601607）4月28日晚间发布一季报，2025年一季度实现营业收入707.63亿元，同比增长 0.87%；净利润13.33亿元，同比下降13.56%。其中，工业板块贡献利润5.32亿元；商业板块贡献利润 8.34亿元；主要参股企业贡献利润1.96亿元。 传音控股：一季度净利润4.9亿元同比下降69.87% 传音控股（688036）4月28日晚间发布一季报，2025年第一季度营收为130.04亿元，同比下降25.45% （调整后）；净利润为4.9亿元，同比下降69.87%（调整后）。净利润下降主要是受市场竞争以及供应 链成本综合影响，营业收入及毛利额减少所致。 浙能电力：一季度净利润10.74亿元同比下降40.81% 浙能电力（600023）4月28 ...

4月28日晚间，沪深两市多家上市公司发布公告，以下是第一财经对一些重要公告的汇总，供投资者参 考。 【品大事】 赛特新材：董事长自愿放弃领薪 高管人员自愿降薪 赛特新材公告，近日收到公司董事长出具的《关于自愿放弃领薪的函》和高级管理人员出具的《关于自 愿降薪的函》。公司董事长及管理层为表明对公司未来发展的坚定信心，优化公司成本结构，实现降本 增效，并提升公司竞争力，自愿提出降低2025年度薪酬，降薪幅度为公司董事会核定的各高级管理人员 基本薪酬的20%，降薪期限为2025年4月至12月。其中，董事长汪坤明自愿放弃领取2025年度4月至12月 的基本薪酬。 三只松鼠：已向香港联交所递交H股发行上市申请并刊发申请资料 三只松鼠公告称，公司已于2025年4月25日向香港联合交易所有限公司递交发行境外上市股份（H股） 并在香港联交所主板挂牌上市的申请，并于同日在香港联交所网站刊登了本次发行上市的申请材料。该 申请材料为草拟版本，其所载资料可能会适时作出更新和修订。公司本次发行上市尚需取得相关政府机 关、监管机构、证券交易所的批准、核准或备案，该事项仍存在不确定性。 玉龙股份：上交所受理公司股票主动终止上市申请 玉龙股 ...

| 证券代码：688398 | 证券简称：赛特新材 | 公告编号：2025-039 | | --- | --- | --- | | 债券代码：118044 | 债券简称：赛特转债 | | 除上述措施外，公司还将持续加大开源节流力度，重点做好市场开拓、产品 研发、自动化提升和生产成本控制等工作，全方位提升公司的运营效率与市场竞 争力，最终实现经营业绩与盈利能力的显著提升。公司管理层将秉持初心，恪尽 职守、勤勉尽责，积极维护公司及全体股东的利益，推动公司持续、稳定、健康 的发展。 1、董事长汪坤明先生自愿放弃领取 2025 年度 4 月至 12 月的基本薪酬。 2、高级管理人员自愿降薪情况 （1）降薪人员：公司董事、总经理严浪基先生，副总经理邱珏女士，副总 经理石芳录先生，财务总监肖远斌先生，副总经理、董事会秘书林宇先生。 （2）降薪幅度：公司董事会核定的各高级管理人员基本薪酬的 20%。 （3）降薪期限：2025 年 4 月至 12 月。 福建赛特新材股份有限公司 关于董事长自愿放弃领薪、高级管理人员自愿降薪的 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 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's revenue growth is recovering, driven primarily by its main business of vacuum insulation panels, which achieved a revenue of 915 million yuan in 2024, reflecting a year-on-year increase of 11.4% [8] - The gross profit margin is under pressure due to a decrease in export sales and rising costs, with the overall gross margin for 2024 at 29.1%, down 3.9 percentage points year-on-year [8] - The company is actively expanding production capacity and optimizing product processes, with significant investments in fixed and intangible assets [8] Financial Performance Summary - Total revenue for 2024 is projected at 933.54 million yuan, with a year-on-year growth of 11.16% [1] - The net profit attributable to shareholders for 2024 is expected to be 77.16 million yuan, a decrease of 27.27% year-on-year [1] - Earnings per share (EPS) for 2024 is estimated at 0.46 yuan, with a price-to-earnings (P/E) ratio of 31.43 [1] Revenue and Profit Forecast - Revenue is expected to grow to 1,138.94 million yuan by 2025, with a year-on-year increase of 22% [1] - The net profit attributable to shareholders is forecasted to recover to 97.92 million yuan in 2025, representing a growth of 26.90% [1] - The projected EPS for 2025 is 0.58 yuan, with a P/E ratio of 24.76 [1] Market Data - The closing price of the stock is 14.45 yuan, with a market capitalization of approximately 2,424.91 million yuan [5] - The stock has a price-to-book (P/B) ratio of 2.35 [5] Operational Insights - The company is focusing on new application development, particularly in the field of battery insulation, which is expected to drive future growth [8] - The company is also working on the installation and debugging of new production equipment, aiming for trial production in the first half of 2025 [8]

| 证券代码：688398 | 证券简称：赛特新材 | 公告编号：2025-037 | | --- | --- | --- | | 债券代码：118044 | 债券简称：赛特转债 | | 福建赛特新材股份有限公司 第五届董事会第二十一次会议决议公告 一、会议召开情况 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、准确性和完整性承担个别及连带责任。 一、会议召开情况 福建赛特新材股份有限公司（以下简称"公司"）第五届董事会第二十一次 会议于 2025 年 4 月 25 日下午以通讯表决的形式召开。本次会议于 2025 年 4 月 25 日以电子邮件的方式向所有董事送达了会议通知和会议文件。所有董事均出 具了《福建赛特新材股份有限公司第五届董事会第二十一次会议通知期限豁免 函》，同意豁免本次董事会会议提前三日通知的要求。本次会议应到董事 7 人， 实际参与表决董事 7 人。会议的召集、召开符合《中华人民共和国公司法》和《福 建赛特新材股份有限公司章程》的有关规定，会议决议合法有效。 二、会议审议情况 本次会议由董事长汪坤明先生召集。全体董事经认真审议并表决， ...

| 证券代码：688398 | 证券简称：赛特新材 | 公告编号：2025-038 | | --- | --- | --- | | 债券代码：118044 | 债券简称：赛特转债 | | 福建赛特新材股份有限公司 关于不向下修正"赛特转债"转股价格的公告 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： ●截至 2025 年 4 月 25 日，福建赛特新材股份有限公司（以下简称"公司"） 股价已触发"赛特转债"转股价格向下修正条件。 ●经公司第五届董事会第二十一次会议审议，公司董事会决定本次不向下修 正"赛特转债"转股价格，同时在未来六个月内（即自 2025 年 4 月 26 日起至 2025 年 10 月 25 日），如再次触发"赛特转债"转股价格向下修正条件，亦不 提出向下修正方案。 一、可转换公司债券基本情况 （一）可转换公司债券发行上市情况 经中国证券监督管理委员会《关于同意福建赛特新材股份有限公司向不特定 对象发行可转换公司债券注册的批复》（证监许可[2022]2722 号）同意注册，公 司于 20 ...

Summary of the Conference Call for Saitex New Materials Company Overview - **Company**: Saitex New Materials - **Industry**: Vacuum Insulation Panels (VIP) and related materials Key Points and Arguments Financial Performance - **Q1 2025 Revenue**: 246 million CNY, a 10% year-on-year increase [2][3] - **Net Profit**: 9.75 million CNY, a 65% year-on-year decrease, attributed to investment periods of subsidiaries, capacity ramp-up, rising raw material costs, and product price declines [2][3] - **2024 Revenue Projection**: Expected to reach 934 million CNY, an 11% increase, with a net profit of 77 million CNY, down 27% [3] Market Demand and Orders - **April 2025 Orders**: Estimated between 80 million to 100 million CNY [2][4] - **Sales Growth Drivers**: Global refrigerator energy efficiency upgrades and domestic policy support are expected to sustain VIP sales growth [2][4] - **Geographical Revenue Composition**: Major revenue sources include Asia, Europe, North America, and South America, with Asia holding the largest share [24] Production and Capacity - **Current Production Capacity**: 1,100 to 1,300 units for VIP products, with an additional 300 to 370 units expected from personnel thermal management projects [3][11] - **Production Challenges**: New factory installations are progressing slowly, but small batch shipments have begun [2][5] Raw Material Costs - **Glass Fiber Price Increase**: Prices rose from 3,000-4,000 CNY per ton to over 5,000 CNY, with some reaching 6,000 CNY, representing a 50%-90% increase [7][8] - **Cost Management Strategies**: Investment in self-produced glass fiber and exploration of alternative materials to mitigate rising costs [9][8] Profitability and Margins - **Gross Margin Pressure**: Experienced significant pressure due to raw material price increases, with unit costs rising by 9% [7][8] - **Future Margin Outlook**: Despite price pressures, the company aims to maintain growth through technological advancements and cost optimization measures [7][17] New Business Ventures - **Expansion into New Fields**: Actively exploring opportunities in construction and renewable energy sectors, with ongoing projects in thermal management [5][4] - **Metal VIP Products**: Expected to see increased orders due to new safety standards for electric vehicle batteries [5] Competitive Landscape - **Market Position**: As a leading player, Saitex benefits from strong customer relationships and a focus on high-end market segments [12][25] - **Impact of Economic Conditions**: While smaller manufacturers may struggle, major players continue to see stable order volumes [22] Future Outlook - **2025 Expectations**: Anticipated growth in European orders driven by energy efficiency upgrades, with a focus on innovative product offerings [25][31] - **Capital Expenditure Plans**: Significant investments planned for projects including convertible bonds and new equipment installations [28] Management and Operational Efficiency - **Increased Management Expenses**: Notable rise in management expenses due to investments in new projects [10] - **Production Efficiency Goals**: Aiming for a production capacity utilization rate of 70%-80%, with potential for higher output as new projects come online [20] R&D and Innovation - **Focus on R&D**: Continuous investment in research and development to enhance product offerings and maintain competitive advantage [31][32] - **New Product Development**: Plans to introduce new VIP products for various applications, including construction and energy sectors [31][32] Response to Market Uncertainties - **Adaptation Strategies**: Enhancing R&D capabilities and diversifying applications to navigate macroeconomic and industry uncertainties [33] This summary encapsulates the key insights and developments discussed during the conference call, highlighting Saitex New Materials' current performance, market strategies, and future outlook.

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [5][21]. Core Views - The company is experiencing short-term profit pressure due to investment phases in its subsidiaries, but it is expected to benefit from long-term growth driven by new project layouts and market opportunities [1][4]. - The company achieved a revenue of 934 million yuan and a net profit attributable to the parent company of 77.16 million yuan in 2024, reflecting a year-on-year growth of 11.16% in revenue but a decline of 27.27% in net profit [1][4]. Summary by Sections Financial Performance - In 2024, the company reported a total revenue of 934 million yuan, with a net profit of 77.16 million yuan, showing a year-on-year increase of 11.16% in revenue but a decrease of 27.27% in net profit. The adjusted net profit was 71 million yuan, down 33.86% year-on-year [1]. - The fourth quarter of 2024 saw a revenue of 265 million yuan and a net profit of 12 million yuan, with a year-on-year increase in revenue of 6.93% but a significant decline in net profit by 55.32% [1]. - The first quarter of 2025 recorded a revenue of 246 million yuan and a net profit of 10 million yuan, marking a 10.06% increase in revenue but a 65.96% decrease in net profit year-on-year [1]. Product Performance - The company's vacuum insulated panels (VIP) revenue grew by 11.39% to 915 million yuan in 2024, driven by increased sales volume, which reached a historical high of 9.97 million square meters, up 13% year-on-year [2]. - The company has begun to receive orders for VIP products used in new applications, including automotive battery insulation, indicating successful market expansion [2]. Profitability and Costs - The overall gross margin for 2024 was 29.12%, a decrease of 3.92 percentage points year-on-year, with the fourth quarter gross margin dropping to 23.60% [3]. - The company’s operating cash flow for 2024 was 66 million yuan, a decrease of 10 million yuan year-on-year, but the cash collection ratio improved by 16.46% to 95.10% [3]. Market Position and Future Outlook - The company holds a leading position in the VIP market and is expected to benefit from the increasing penetration of VIP products in various applications, which will drive industry growth [4]. - The report projects a decrease in net profit for 2025 and 2026 to 144.24 million yuan and 177.65 million yuan, respectively, but anticipates a recovery to 236.30 million yuan by 2027 [4].