二、监事会会议审议情况 证券代码：688548 证券简称：广钢气体 公告编号：2024-032 广州广钢气体能源股份有限公司 第二届监事会第十九次会议决议公告 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。 一、监事会会议召开情况 广州广钢气体能源股份有限公司（以下简称"公司"）第二届监事会第十九 次会议通知于 2024 年 7 月 26 日送达全体监事，本次会议于 2024 年 7 月 30 日 在公司会议室以现场结合通讯方式召开。会议由监事会主席林敏女士召集并主持， 会议应出席监事 3 人，实际出席监事 3 人。本次会议的召集、召开符合《中华人 民共和国公司法》等法律、法规和《广州广钢气体能源股份有限公司章程》的有 关规定，会议决议合法有效。 表决结果：3 票同意，0 票反对，0 票弃权。 具体内容详见公司披露于上海证券交易所网站（www.sse.com.cn）的《广州 广钢气体能源股份有限公司 2024 年半年度报告》及《广州广钢气体能源股份有 限公司 2024 年半年度报告摘要》。 （三）审议通过《关于 2024 ...

证券代码：688548 证券简称：广钢气体 公告编号：2024-034 广州广钢气体能源股份有限公司 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： 一、利润分配预案的内容 广州广钢气体能源股份有限公司（以下简称"公司"）2024 年半年度实现归 属于上市公司股东净利润为 135,775,019.45 元。截至 2024 年 6 月 30 日，母公 司报表未分配利润为 214,977,287.49 元。上述财务数据未经审计。经董事会决 议，公司 2024 年半年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。本次利润分配预案如下： 公司拟向全体股东每 10 股派发现金红利 0.42 元（含税），截至审议本次利 润分配方案的董事会召开日，公司总股本为 1,319,398,521 股，以此计算合计拟 派发现金红利 55,414,737.88 元（含税），占公司 2024 年半年度合并报表归属母 公司股东净利润的 40.81%。本次利润分配不送红股，不进行资本公积转增股本。 如在本次分配预案公告披露之日 ...

证券代码：688548 证券简称：广钢气体 公告编号：2024-031 广州广钢气体能源股份有限公司 2024年年度"提质增效重回报"行动方案的公告 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。 广州广钢气体能源股份有限公司（以下简称"公司"）于2024年7月16日收到 公司董事长邓韬先生提交的《关于提议公司实施2024年度中期分红的函》，现将 有关情况公告如下： 一、 具体提议情况 为持续践行"以投资者为本"的发展理念，让广大投资者切实分享并感受到 公司的发展成果，基于对公司稳定经营及未来发展的坚定信心，在符合《广州广 钢气体能源股份有限公司章程》（以下简称"《公司章程》"）规定的利润分配 原则、保证公司正常经营和长远发展的前提下，邓韬先生建议公司实施2024年度 中期分红，具体提议内容如下： 以公司未来实施权益分派股权登记日登记的总股本为基数，建议向全体股东 派发现金分红总额按照不低于2024年半年度合并归属于上市公司普通股股东净利 润的40%确定，不进行资本公积转增股本，不送红股。 邓韬先生承诺将在公司董事会审议该 ...

Company and Industry Summary Company Overview - The company has transitioned from handling helium resources to developing a self-sufficient helium supply chain, including sourcing, liquid helium packaging, and production records [1] Core Insights and Arguments - The company aims to achieve a market share of 30% to 40% in the helium industry in the future [1] Other Important Content - The company has established capabilities in various aspects of the helium industry, indicating a strong position for future growth [1]

Summary of Conference Call Notes Company and Industry - The document covers the domestic Indonesian company Meihua Biological, a leading player in the amino acid industry, which is being rated to outperform the industry with a target price of 13.7 [1] Core Points and Arguments - Meihua Biological is currently valued at a price-to-earnings ratio of 12 times for the year 2024 [1] - The company is recognized as a platform company deeply engaged in the amino acid sector and is making strides into the field of nuclear biology [1] Other Important but Possibly Overlooked Content - The call highlights three main points of interest regarding the company's traditional business in amino acids [1]

Financial Data and Key Metrics Changes - The company has maintained a cumulative cash dividend of 6.3 billion since 2018, with an average dividend payout ratio close to 50% and a current dividend yield of approximately 5.6% [3] - The company has repurchased 185 million shares since 2021, totaling 1.84 billion, contributing to an estimated dividend yield of around 7% [3][10] - Operating cash flow for the company was around 5.2 billion in 2022, with capital expenditures, dividends, and repurchases totaling 1.3 billion, 1.2 billion, and 900 million respectively, indicating a stable cash flow situation [10][29] Business Line Data and Key Metrics Changes - The company is actively upgrading traditional products like threonine and lysine while also launching new strains such as glutamic acid and liquid oxygen [10] - The production capacity for glutamic acid is planned to reach 500,000 tons, and lysine capacity is set to increase by 600,000 tons [10][21] - The amino acid market is expected to grow due to domestic policies encouraging the reduction of soybean meal usage, with domestic amino acid demand growing at a rate of 12% [11][12] Market Data and Key Metrics Changes - The global production of amino acids is approximately 6.15 million tons, with a five-year growth rate of 4%, while domestic production is around 4.3 million tons, growing at 12% [11] - The market share of leading companies in the amino acid sector is concentrated, with the top three companies holding nearly 90% of the market [13][14] - The company has seen a decrease in soybean meal's share in feed, which is expected to continue, providing a long-term growth opportunity for amino acids [12] Company Strategy and Development Direction - The company is transitioning towards synthetic biology and aims to build a comprehensive platform in this field, leveraging its existing fermentation technology [21][26] - The focus is on maintaining stable cash flow while investing in new product development and capacity expansion [10][21] - The company plans to maintain a stable level of capital expenditures while continuing to enhance shareholder returns through dividends and share repurchases [10][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining profitability despite potential pressures from new capacity in the market, emphasizing the long-term growth potential of amino acids [68] - The company anticipates a recovery in demand for amino acids in the second half of the year, driven by seasonal factors [13][15] - Management highlighted the importance of maintaining a competitive edge through cost control and strategic investments in R&D [29][21] Other Important Information - The company has applied for 11 invention patents in 2023, supporting future product development [10] - The company has implemented an employee stock ownership plan for four consecutive years, reflecting management's confidence in long-term growth [28] - R&D investment reached 314 million in 2023, indicating a commitment to innovation and new product development [29] Q&A Session Summary Question: How does the company view the future of amino acid pricing? - The company expects amino acid prices to trend upwards due to limited supply and seasonal demand increases in the second half of the year [45][68] Question: What is the company's strategy regarding shareholder returns? - The company plans to maintain annual shareholder returns of around 2 billion, which translates to an attractive yield based on current market capitalization [46] Question: How does the company assess the competitive landscape in the amino acid market? - The company believes that while new capacities may emerge, the overall market dynamics will favor established players due to their ability to manage production costs effectively [68]

Investment Rating - The report assigns a "Buy" rating to the company, indicating a positive outlook for its future performance [44]. Core Insights - The company is positioned as a leading domestic supplier of electronic bulk gases, primarily used in high-end manufacturing sectors such as semiconductors, displays, and photovoltaics. The report suggests that the company is likely to benefit from domestic policy support and expanding downstream demand, marking a window for domestic substitution in electronic bulk gas supply [44]. - The company has a robust technology system for electronic bulk gases, which includes high-purity nitrogen, oxygen, argon, carbon dioxide, and helium. The sales model encompasses both onsite gas production and retail supply [62][44]. - The company has successfully acquired Lind's helium business, enabling it to break the foreign monopoly in the helium market and establish itself as a leading helium supplier in China [59][44]. Summary by Sections Electronic Bulk Gases - The company’s electronic bulk gas revenue is expected to grow steadily, with projected revenues of CNY 1.64 billion, CNY 2.32 billion, and CNY 2.93 billion for 2024, 2025, and 2026, respectively, reflecting growth rates of 35.98%, 40.81%, and 26.56% [43]. - The gross margin for electronic bulk gases is anticipated to recover slightly in 2024, reaching 40.00%, after a decline due to falling helium prices [43][44]. Market Position and Competitive Landscape - The company has a significant market share in the domestic semiconductor and display sectors, with a 25.4% share of newly built electronic bulk gas stations from 2018 to September 2022, ranking first in the industry [36]. - The company has established long-term stable partnerships with major clients, ensuring strong profitability and reinforcing its leading position in the industry [33]. Technology and Innovation - The company has developed a comprehensive technology system for electronic bulk gases, achieving ppb-level purity in its products, which aligns with international standards [52]. - The company’s proprietary technologies include advanced gas production, storage, transportation, and digital operation technologies, enhancing its operational efficiency and product quality [52]. Future Outlook - The company is expected to see significant growth in its electronic bulk gas business over the next few years, with a strong pipeline of projects and a favorable market environment [62][44]. - The report forecasts net profits of CNY 347 million, CNY 499 million, and CNY 672 million for 2024, 2025, and 2026, respectively, indicating a positive growth trajectory [44].

Investment Rating - The report maintains an "Accumulate" rating for the company [1]. Core Views - The company is positioned as a leader in the ultra-pure nitrogen and helium gas market, benefiting from the domestic substitution process in the electronic bulk gas sector. Its self-developed Super-N ultra-pure nitrogen device has a maximum design supply capacity of 37,000 Nm3/h, meeting the needs of most domestic integrated circuit manufacturing industries [1][9]. - The company has established a comprehensive product matrix covering nitrogen, helium, oxygen, hydrogen, argon, and carbon dioxide, and has been actively expanding its market share in the electronic bulk gas sector, which has been historically dominated by foreign companies [9][10]. - The company has achieved a compound annual growth rate (CAGR) of 28.4% in revenue from 2020 to 2023, with a revenue of 1.84 billion yuan in 2023, reflecting a year-on-year growth of 19.2% [9][12]. Summary by Sections Revenue and Profitability - The company's revenue is projected to reach 2.239 billion yuan in 2024, with a growth rate of 22%. The net profit attributable to the parent company is expected to be 354 million yuan, reflecting a growth rate of 11% [4][12]. - The gross profit margin and net profit margin for 2023 were 35.1% and 17.4%, respectively, with a slight year-on-year fluctuation [9][12]. Market Position and Competitive Landscape - The company ranks second in the market share for newly built on-site gas projects in the domestic integrated circuit manufacturing and semiconductor display sectors, with a market share of 24.6% in 2023 [10][11]. - The domestic market for electronic bulk gases is experiencing accelerated domestic substitution, with the company actively expanding its market presence against established foreign competitors [10][12]. Supply Chain and Technology - The company has achieved a self-controlled helium supply chain, becoming the largest domestic helium supplier. It has secured helium resources through strategic acquisitions and partnerships, allowing it to participate in the global helium supply chain [11][12]. - The report highlights the company's proprietary technology in ultra-pure nitrogen production, which is crucial for achieving domestic substitution in the electronic bulk gas industry [12][58].

证券代码：688548 证券简称：广钢气体 公告编号：2024-030 广州广钢气体能源股份有限公司 关于自愿性披露对外投资进展的公告 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： 基于公司发展需要，公司将原计划分两期投入的智能装备制造基地项目调整为 一次整体投资建设，本项目预计总投资金额由原计划一期投资15,687万元人民币（二 期项目建设另行决策和建设）调整为一次整体投资26,769万元人民币（最终投资金额 以项目建设实际投入为准）。 根据《上海证券交易所科创板股票上市规则》和《广州广钢气体能源股份有 限公司章程》规定，本次对外投资调整事项属于广州广钢气体能源股份有限公司 （以下简称"广钢气体"或"公司"）总裁办公会审批权限，无需提交公司董事会 或股东大会审议。 本次对外投资不属于关联交易，不构成《上市公司重大资产重组管理办法》 规定的重大资产重组事项。 一、 对外投资概述 2024年2月8日，公司与建德市人民政府签订《空分气体智能装备制造基地项目 投资协议书》，拟在建德经济开发区内建设空分气体智能装 ...

证券代码：688548 证券简称：广钢气体 公告编号：2024-029 广州广钢气体能源股份有限公司 关于召开 2023 年度暨 2024 年第一季度 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： 会议召开时间：2024 年 6 月 14 日（星期五）下午 15:00-16:00 会 议 召 开 地 点 ： 上海证券 交 易 所 上 证 路 演 中 心 （ 网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 会议问题征集：投资者可于 2024 年 6 月 6 日（星期四）至 6 月 13 日 （星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过 公司邮箱 IR@ggas.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 广州广钢气体能源股份有限公司（以下简称"公司"）已分别于 2024 年 3 月 26 日和 2024 年 4 月 20 日发布公司 2023 年年度报告及 2024 年第一季 ...