（一） 股东大会召开的时间：2025 年 5 月 7 日 （二） 股东大会召开的地点：上海市嘉定区南翔镇昌翔路 158 号会议室 证券代码：688519 证券简称：南亚新材 公告编号：2025-019 南亚新材料科技股份有限公司 2024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 一、 会议召开和出席情况 （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： | 1、出席会议的股东和代理人人数 | 49 | | --- | --- | | 普通股股东人数 | 49 | | 2、出席会议的股东所持有的表决权数量 | 151,168,251 | | 普通股股东所持有表决权数量 | 151,168,251 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 67.6945 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 67.6945 | （四） 表决方式是 ...

Core Insights - The report highlights a focus on various sectors including logistics, healthcare, technology, and machinery, with specific companies recommended for investment based on their recent performance and future potential [1][2][3] Macroeconomic Overview - The April PMI data indicates a decline in manufacturing sentiment, with the manufacturing PMI at 49.0%, down 1.5 percentage points from March, signaling a contraction in the sector [6][7] - High-tech manufacturing and equipment manufacturing have seen a notable drop in overseas demand, while the construction industry remains active [6][7] - The new orders index fell to 49.2%, a decrease of 2.6 percentage points, with export orders dropping significantly to 44.7%, the lowest since January 2023 [6][7] Healthcare Sector - JianKai Technology reported a revenue of 227 million yuan for 2024, a decline of 22.26%, with a net profit of 30 million yuan, down 74.22% [9][10] - In Q1 2025, the company achieved a revenue of 69 million yuan, a year-on-year increase of 6.66%, but the net profit decreased by 17.79% [9][10] - The company is advancing its innovative drug PEG-irinotecan into Phase III clinical trials, with other indications in Phase II, indicating potential future growth [11][12] Technology Sector - Boshi Software reported a revenue of 2.14 billion yuan for 2024, a growth of 4.79%, but a net profit decline of 7.44% [14][15] - The company is focusing on AI and electronic voucher businesses, expanding application scenarios to enhance revenue streams [16][17] - In Q1 2025, the company faced a revenue decline of 1.17%, with a net loss of 63 million yuan, indicating challenges in profitability [15][18] Machinery Sector - Bozhong Precision reported a revenue of 4.95 billion yuan for 2024, a growth of 2.36%, with a net profit of 398 million yuan, up 2.05% [19][20] - The company is expanding into new fields such as renewable energy, semiconductors, and robotics, which are expected to drive future growth [22][23] - In Q1 2025, the company experienced a revenue decline of 0.80%, with a net loss of 31 million yuan, attributed to upfront costs and equipment not yet accepted [21][23]

光大证券股份有限公司 关于南亚新材料科技股份有限公司 2024年年度持续督导跟踪报告 光大证券股份有限公司（以下简称"光大证券"或"保荐人"）作为南亚新材料科 技股份有限公司（以下简称"南亚新材"或"公司"）2022年度向特定对象发行A股股 票的保荐人，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》以及《上海证券交易所上市公司自律监管指引第11号——持续督导》等相关规 定，负责南亚新材的持续督导工作，并出具本持续督导年度跟踪报告。 一、持续督导工作的情况 二、保荐人对公司信息披露审阅的情况 3 光大证券持续督导人员对公司2024年度的信息披露文件进行了事先或事后审阅，包 括年度报告、董事会和监事会会议决议及公告、募集资金使用和管理的相关报告和其他 临时公告等文件，对信息披露文件的内容及格式、履行的相关程序进行了检查。 经核查，保荐人认为，南亚新材严格按照证券监督部门的相关规定进行信息披露， 依法公开对外发布各类定期报告或临时报告，确保各项重大信息的披露真实、准确、完 整、及时，不存在虚假记载、误导性陈述或者重大遗漏。 三、保荐人和保荐代表人发现的问题及整改情况 | 序号 | 项目 ...

Core Viewpoint - The company has reached a performance turning point, with high-end copper-clad laminates driving revenue growth [2] Financial Performance - In 2024, the company achieved a total revenue of 3.362 billion yuan, representing a year-on-year increase of 12.70% [1] - The net profit attributable to the parent company for 2024 was 50 million yuan, marking a return to profitability [1] - In Q1 2025, the company reported revenue of 952 million yuan, a significant year-on-year growth of 45.04% [1] - The net profit attributable to the parent company in Q1 2025 was 21 million yuan, reflecting a year-on-year increase of 109.04% [1] Business Segments - The copper-clad laminate (CCL) business generated revenue of 2.603 billion yuan in 2024, up 11.82% year-on-year, with a gross margin of 3.07%, an increase of 4.32 percentage points [2] - The bonding sheet business achieved revenue of 697 million yuan, a year-on-year increase of 18.11%, with a gross margin of 30.22%, up 4.30 percentage points [2] Industry Context - The U.S. Department of Commerce has added NVIDIA H20 to the export restriction list, which may benefit domestic AI chip manufacturers [3] - The domestic AI chip Ascend 910C has improved packaging technology, enhancing cost efficiency and production speed, crucial for competing with global leaders like NVIDIA [4] - The copper-clad laminate is a core material for printed circuit boards, and bonding sheets are essential for the overall performance of CCL products [5] Technological Advancements - The company has established a domestic supply chain and achieved localization of key raw materials for high-speed products, ensuring material import substitution [6] - The company is advancing the construction of a high-end electronic circuit substrate base in Jiangsu, with a production capacity of 3.6 million square meters of IC substrate materials [6] Profit Forecast - Revenue projections for the company are 4.740 billion yuan in 2025, 5.996 billion yuan in 2026, and 7.555 billion yuan in 2027, with corresponding EPS of 0.89, 2.06, and 3.42 yuan [7] - The current stock price corresponds to PE ratios of 41.6, 18.0, and 10.8 for the years 2025, 2026, and 2027 respectively [7]

Investment Rating - The report assigns a "Buy" rating for the company, marking the first coverage of the stock [12]. Core Insights - The company has reached an inflection point in performance, with high-end copper-clad laminates (CCL) driving revenue growth. In 2024, the company achieved a revenue of 3.362 billion yuan, a year-on-year increase of 12.70%. The CCL business generated 2.603 billion yuan in revenue, up 11.82%, with a gross margin of 3.07%, an increase of 4.32 percentage points [4][5]. - The first quarter of 2025 saw a significant revenue increase of 45.04% year-on-year, reaching 952 million yuan, with a net profit of 21 million yuan, reflecting a 109.04% increase year-on-year, primarily due to product structure optimization and improved gross margins [4][5]. Summary by Sections Market Performance - The company has shown strong market performance, with a current stock price of 37.04 yuan and a total market capitalization of 8.8 billion yuan. The stock has traded within a 52-week range of 16.68 to 40.29 yuan [1]. Business Developments - The U.S. government's restrictions on AI chip exports, including NVIDIA's H20, present opportunities for domestic AI chip manufacturers, enhancing the company's CCL business performance [6]. - The domestic AI chip Ascend 910C is positioned to compete with global leaders, with a transistor count of 53 billion and a half-precision (FP16) computing power exceeding 800 TFLOPS, achieving 60-80% of NVIDIA's H100 performance [7]. Industry Positioning - The company is a key player in the domestic AI computing power supply chain, focusing on CCL and prepreg products, which are essential for printed circuit board manufacturing [10]. - The company has established long-term partnerships with leading PCB manufacturers and maintains close technical collaborations with major clients in the industry [9]. Financial Forecast - Revenue projections for 2025-2027 are 4.740 billion, 5.996 billion, and 7.555 billion yuan, respectively, with corresponding EPS of 0.89, 2.06, and 3.42 yuan. The current stock price corresponds to PE ratios of 41.6, 18.0, and 10.8 times for the respective years [12][14].

南亚新材料科技股份有限公司 2024 年年度股东大会会议资料 南亚新材料科技股份有限公司 2024 年年度股东大会会议资料 南亞新材 股票代码：688519 股票简称：南亚新材 2025 年 05 月 1 / 27 南亚新材料科技股份有限公司 2024 年年度股东大会会议资料 目 录 | 2024 | 年年度股东大会会议须知 3 | | --- | --- | | 2024 | 年年度股东大会会议议程 5 | | 2024 | 年年度股东大会会议议案 7 | | 议案一 | 关于公司《2024 年度董事会工作报告》的议案 7 | | 议案二 | 关于公司《2024 年度监事会工作报告》的议案 11 | | 议案三 | 关于公司《2024 年年度报告》及其摘要的议案 16 | | 议案四 | 关于公司《2024 年度财务决算报告》的议案 17 | | 议案五 | 关于公司《2025 年度财务预算报告》的议案 20 | | 议案六 | 关于《独立董事 2024 年度述职报告》的议案 22 | | 议案七 | 关于公司《2024 年度利润分配方案》的议案 23 | | 议案八 | 关于 2025 年度向金融机构申请 ...

Group 1 - Haiyuan Composite will implement delisting risk warning from April 29, 2025, with stock name changed to "*ST Haiyuan" and daily price fluctuation limit set at 5% [3] - Xinlaifu plans to acquire 100% of Jin Nan Magnetic Materials, with the transaction expected to constitute a major asset restructuring, and stock will resume trading on April 28, 2025 [4] - Hongbaoli's subsidiary successfully completed trial production of polyether technology transformation project, producing qualified products [5] - Xingguang Co. received a warning letter from Guangdong Securities Regulatory Bureau due to significant discrepancies in 2024 performance forecast and actual results [6] - Meirui New Materials' subsidiary successfully completed the production process for its polyurethane industrial park phase one project [7] Group 2 - Taigang Stainless Steel reported Q1 2025 net profit of 188 million yuan, a year-on-year increase of 5506.92%, with revenue of 23.31 billion yuan, down 4.71% [9] - Shen Shen Fang A reported Q1 2025 net profit of 72.42 million yuan, a year-on-year increase of 3718.51%, with revenue of 330 million yuan, up 457.38% [10] - Qingda Environmental reported Q1 2025 net profit of 68.71 million yuan, a year-on-year increase of 990.26%, with revenue of 619 million yuan, up 317.43% [11] - Jincai Hulin reported Q1 2025 net profit of 13.65 million yuan, a year-on-year increase of 466.95%, with revenue of 206 million yuan, down 33% [13] - New Sai Co. reported Q1 2025 net profit of 18.19 million yuan, a year-on-year increase of 315.74%, with revenue of 1.215 billion yuan, up 312.03% [14] - Kexing Pharmaceutical reported Q1 2025 net profit of 25.58 million yuan, a year-on-year increase of 106.21%, with revenue of 354 million yuan, down 1.97% [15] - Jiechang Drive reported Q1 2025 net profit of 113 million yuan, a year-on-year increase of 62.21%, with revenue of 961 million yuan, up 35.59% [16] - Taihe Co. reported Q1 2025 net profit of 78.53 million yuan, a year-on-year increase of 50.94%, with revenue of 1.033 billion yuan, up 18.5% [17] - Xiyu Co. reported Q1 2025 net profit of 499 million yuan, a year-on-year increase of 53.08%, with revenue of 9.729 billion yuan, up 15.82% [18] - Hualing Cable reported Q1 2025 net profit of 32.16 million yuan, a year-on-year increase of 55.54%, with revenue of 1.005 billion yuan, up 11.38% [19] - Dong'a Ejiao reported Q1 2025 net profit of 425 million yuan, a year-on-year increase of 20.25%, with revenue of 1.719 billion yuan, up 18.24% [20] - China Rare Earth reported Q1 2025 net profit of 72.62 million yuan, turning from loss to profit, with revenue of 728 million yuan, up 141.32% [21] - Gree Electric reported 2024 net profit of 32.185 billion yuan, a year-on-year increase of 10.91%, with revenue of 189.164 billion yuan, down 7.26% [22] - Luzhou Laojiao reported 2024 net profit of 13.473 billion yuan, a year-on-year increase of 1.71%, with revenue of 31.196 billion yuan, up 3.19% [24] - Yake Technology reported 2024 net profit of 872 million yuan, a year-on-year increase of 50.41%, with revenue of 6.862 billion yuan, up 44.84% [25] - Gujing Gongjiu reported 2024 net profit of 5.517 billion yuan, a year-on-year increase of 20.22%, with revenue of 23.578 billion yuan, up 16.41% [26] - Lanzhou Bank reported 2024 net profit of 1.888 billion yuan, a year-on-year increase of 1.29%, with revenue of 7.854 billion yuan, down 2.02% [27] - China Power Construction reported 2024 net profit of 12.015 billion yuan, a year-on-year decrease of 7.21%, with revenue of 633.685 billion yuan, up 4.07% [28] - China Communications Construction reported Q1 2025 net profit of 5.467 billion yuan, a year-on-year decrease of 10.98%, with revenue of 154.644 billion yuan, down 12.58% [29] Group 3 - Koweil plans to reduce its shareholding by up to 3.21% [31] - Nanya New Materials plans to reduce its repurchased shares by up to 238,480 shares, accounting for 1% of total shares [32] - Xiangsheng Medical's shareholders plan to reduce their holdings by up to 1.72% [33] Group 4 - Zhenhua Heavy Industry plans to repurchase shares worth 50 million to 100 million yuan [35] - Deep Keda plans to acquire 16.92% of the equity of its subsidiary Xianma Technology for 47.376 million yuan [37] - Jinchengxin signed a mining production contract with Western Mining, with an estimated contract value of approximately 377 million yuan [38]

一、董事会会议召开情况 南亚新材料科技股份有限公司（以下简称"公司"）第三届董事会第十五次 会议（以下简称"会议"）于 2025 年 4 月 27 日以现场会议与通讯会议相结合的 方式召开，本次会议通知已于会前送达全体董事。根据《南亚新材料科技股份有 限公司章程》（以下简称《公司章程》）等相关规定，本次会议经全体董事同意 豁免临时董事会提前通知的时间要求。本次会议由包秀银先生主持，监事、高级 管理人员列席，会议应到董事 9 名，实到董事 9 名，会议的召集、召开符合《中 华人民共和国公司法》等法律、法规和《公司章程》的有关规定，会议合法有效。 证券代码：688519 证券简称：南亚新材 公告编号：2025-017 南亚新材料科技股份有限公司 第三届董事会第十五次会议决议公告 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。 为补充公司日常经营所需流动资金，公司拟减持回购专用证券账户部分股 份 ，计划减持数量不超过 2,384,836 股。公司本次减持回购股份收回资金将计 入公司资本公积，不会对公司的经营、财务和未来发展产生重 ...

证券代码：688519 证券简称：南亚新材 公告编号：2025-018 南亚新材料科技股份有限公司 关于回购股份集中竞价减持计划的公告 | 股东名称 | 南亚新材料科技股份有限公司回购专用证券账户 | | | --- | --- | --- | | 股东身份 | 控股股东、实控人及一致行动人 √否 | □是 | | | 直接持股 5%以上股东 □否 | √是 | | | 董事、监事和高级管理人员 √否 | □是 | | | 其他：回购专用证券账户 | | | 持股数量 | 15,174,303股 | | | 持股比例 | 6.36% | | | 当前持股股份来源 | 集中竞价交易取得：15,174,303股 | | 上述减持主体无一致行动人。 二、减持计划的主要内容 公司于 2025 年 4 月 27 日召开第三届董事会第十五次会议，审议通过了《关 于回购股份集中竞价减持计划的议案》。根据公司于 2022 年 5 月 17 日在上海证 券交易所网站（www.sse.com.cn）上披露的《关于以集中竞价交易方式回购公司 股份的回购报告书》的相关承诺和要求，公司计划自发布本次减持计划公告之日 起 15 个交易日 ...

Investment Rating - The report maintains a "Buy" rating for the company [1][5][8] Core Views - The company has achieved a turnaround in profitability in 2024, with a significant year-on-year net profit growth of 109.04% in Q1 2025, indicating a strong start to the year [8] - The report highlights the company's ability to leverage domestic supply chains and technological advancements in the context of increasing AI demand, which is expected to drive revenue growth [5][8] Financial Summary - The company is projected to achieve revenues of RMB 49.13 billion, RMB 64.61 billion, and RMB 83.99 billion for the years 2025, 2026, and 2027 respectively, with corresponding net profits of RMB 2.77 billion, RMB 5.75 billion, and RMB 8.51 billion [5][7] - The expected earnings per share (EPS) for 2025, 2026, and 2027 are RMB 1.16, RMB 2.41, and RMB 3.57 respectively, with price-to-earnings (PE) ratios of 28.7, 13.8, and 9.3 [5][7] - The company reported a revenue of RMB 3.36 billion in 2024, a 12.7% increase year-on-year, and a net profit of RMB 50 million, marking a return to profitability [8][7] Market Performance - The company's stock has shown strong performance, with a 66.9% absolute return year-to-date and a 87.0% return over the past 12 months [2][3] - The stock is rated to outperform the market, with a sector rating of "stronger than the market" [1][2] Growth Drivers - The company is expanding its production capacity with new facilities and is focusing on R&D to enhance operational efficiency and product quality [8] - The report emphasizes the potential for growth in the domestic computing power supply chain, particularly in light of recent restrictions on foreign technology [8]