广东省广州市天河区珠江新城华夏路 10号富力中心 23/F. Units 01 & 04 of 31/F. R&F Center, 10 Tianhe District Guangzhou. Guangdong 510623, P. R. 电话/Tel:+86202826 1688 传真/Fax:+86 20 2826 1666 北京市中伦(广州)律师事务所 关于广州广钢气体能源股份有限公司 2024 年年度股东会的法律意见书 本法律意见书仅供公司本次股东会相关事项的合法性之目的使用,不得用作 任何其他目的。 本所律师已经按照《上市公司股东会规则》的相关要求对公司本次会议的真 实性、合法性进行查验并发表法律意见:本法律意见书中不存在虚假记载、误导 性陈述及重大遗漏。 按照律师行业公认的业务标准、道德规范和勤勉尽责的精神,本所律师对公 司所提供的相关文件和有关事实进行了核查和验证,现出具法律意见如下; 一、本次股东会的召集程序 致:广州广钢气体能源股份有限公司 北京市中伦(广州)律师事务所(以下简称"本所")受广州广钢气体能源 股份有限公司(以下简称"公司")委托,指派本所律师周昊臻、刘杰(以下简 称"本所律师 ...

证券代码：688548 证券简称：广钢气体 公告编号：2025-015 广州广钢气体能源股份有限公司 关于召开 2024 年度暨 2025 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：2025 年 5 月 28 日（星期三）下午 16:00-17:00 ??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 2025 年 5 月 21 日（星期三）至 5 月 27 日 （星期二）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 2025 年 3 月 29 日和 2025 年 4 月 22 日发布公司 2024 年年度报告及 2025 年第一季度报告， 为便于广大投资者更加全面深入地了解公司 2024 年年度及 2025 年第一季度经营 成果、财务状况，公司计划于 2025 ...

证券代码：688548 证券简称：广钢气体 公告编号：2025-015 广州广钢气体能源股份有限公司 关于召开 2024 年度暨 2025 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：2025 年 5 月 28 日（星期三）下午 16:00-17:00 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/） 三、参加人员 董事长、总裁、首席科学家：邓韬先生 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 2025 年 5 月 21 日（星期三）至 5 月 27 日 （星期二）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 2025 年 3 月 29 日和 2025 年 4 月 ...

股票代码：688548 股票简称：广钢气体 广州广钢气体能源股份有限公司 2024 年年度股东会 广州广钢气体能源股份有限公司 2024 年年度股东会会议资料 会议资料 2025 年 5 月 1 广州广钢气体能源股份有限公司 2024 年年度股东会会议资料 广州广钢气体能源股份有限公司 2024 年年度股东会 会议资料目录 | 2024 | 年年度股东会 | 会议须知 | | 3 | | --- | --- | --- | --- | --- | | 2024 | 年年度股东会 | 会议议程 | | 5 | | 2024 | 年年度股东会 | 会议议案 | | 7 | | | 议案一：关于 | 2024 | 年度董事会工作报告的议案 | 7 | | | 议案二：关于 | 2024 | 年度监事会工作报告的议案 | 8 | | | 议案三：关于 | 2024 年年度报告及摘要的议案 | | 9 | | | 议案四：关于 | 2024 年度利润分配预案的议案 | | 10 | | | 议案五：关于续聘公司 | 2025 | 年度审计机构的议案 | 12 | | | 议案六：关于 | 2025 | 年度公司申请银行 ...

Investment Rating - The investment rating for the company is "Outperform" (maintained) [1] Core Views - The Q1 performance of the company is in line with expectations, with helium prices expected to recover from the bottom, and on-site gas production is steadily advancing [5] - The company achieved a revenue of 548 million yuan in Q1 2025, representing a year-on-year growth of 19% but a quarter-on-quarter decline of 9% [5] - The company is expected to benefit from the ongoing capital expenditure in the domestic semiconductor and panel industries, with helium prices projected to rise by 10%-25% or more starting December 2024 [5] - The company is enhancing its global supply chain and has signed a long-term helium procurement agreement with Qatar Energy, aiming for an annual procurement volume of approximately 100 million standard cubic feet [5] - The company is establishing a self-controlled equipment manufacturing base to strengthen its advantages in on-site gas production and is expanding into electronic specialty gases [5] Financial Data and Profit Forecast - Total revenue is projected to reach 2,650 million yuan in 2025, with a year-on-year growth rate of 26% [4] - The net profit attributable to the parent company is forecasted to be 306 million yuan in 2025, with a year-on-year growth rate of 23.5% [4] - The earnings per share (EPS) is expected to be 0.23 yuan in 2025, with a projected price-to-earnings (PE) ratio of 46 [4] - The gross profit margin is anticipated to be 28.1% in 2025, improving from 25.8% in Q1 2025 [4] - The return on equity (ROE) is expected to increase to 5.1% in 2025 [4]

Investment Rating - The report initiates coverage with an "Accumulate" rating for the company [12]. Core Views - Short-term profits are under pressure, but capacity expansion and stable supply are expected to drive growth in electronic gases [2][3]. - The company achieved revenue of 548 million yuan in Q1 2025, representing an 18.95% year-on-year increase, while net profit attributable to shareholders decreased by 15.95% year-on-year [1][2]. - The decline in net profit is attributed to a drop in gross margin and an increase in expense ratios, particularly due to a significant decrease in helium prices [2][3]. Financial Summary - Revenue projections for 2025-2027 are 2.612 billion yuan, 3.221 billion yuan, and 3.943 billion yuan, respectively, with expected EPS of 0.27 yuan, 0.38 yuan, and 0.50 yuan [4][3]. - The company’s gross margin decreased by 4.99 percentage points to 25.75% year-on-year, primarily due to the helium business [2][3]. - The total expense ratio increased by 2.03 percentage points year-on-year, with financial expenses rising significantly [2][3]. Capacity and Supply Chain - The company has established a robust technical barrier and is set to release significant capacity in the second half of 2025, which is expected to provide high certainty for revenue growth [3]. - A long-term helium procurement agreement with Qatar for 20 years enhances the company's supply chain stability [3].

Core Insights - The company reported a revenue of 2.103 billion yuan for 2024, representing a year-on-year growth of 14.60%, while the net profit attributable to shareholders decreased by 22.42% to 248 million yuan [1] - The company aims to enhance its competitive edge in the electronic gas sector through increased R&D investment and technological advancements [5] Financial Performance - In 2024, the company's revenue for each quarter was 461 million yuan, 512 million yuan, 526 million yuan, and 605 million yuan, showing a quarterly growth trend [1] - The gross margin for 2024 was 26.92%, down 8.14 percentage points year-on-year, primarily due to rising costs in the nitrogen business and increased depreciation from new projects [1] - For Q1 2025, the company achieved a revenue of 548 million yuan, an 18.95% year-on-year increase, but a 9.37% decrease quarter-on-quarter [1][2] Product Performance - The electronic bulk gas segment generated 1.487 billion yuan in revenue for 2024, a 22.86% increase, driven by new projects and helium market development [3] - Nitrogen production reached 3.2675 million tons in 2024, a 60.23% increase, with sales of 3.2361 million tons, reflecting significant demand growth [3] Market Position - The company holds a 15% market share in China's electronic bulk gas market, with a leading position in helium supply, accounting for 13.4% of national imports [4] - The company is expanding its product offerings in the electronic specialty gas sector, with projects like the C4F6 expected to enter trial production in 2025 [4] Future Outlook - The company is expected to see continued revenue growth and margin improvement due to technological advancements and a stable helium supply chain [5] - Profit forecasts for 2025-2027 are projected at 358 million yuan, 467 million yuan, and 632 million yuan respectively, with corresponding EPS of 0.27 yuan, 0.35 yuan, and 0.48 yuan [5]

证券代码：688548 证券简称：广钢气体 公告编号：2025-014 广州广钢气体能源股份有限公司 关于召开2024年年度股东会的通知 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： 一、 召开会议的基本情况 （一） 股东会类型和届次 2024年年度股东会 召开日期时间：2025 年 5 月 20 日 14 点 00 分 召开地点：广州市荔湾区白鹤洞街道芳村大道东 2 号广钢气体大厦岭南报告 厅 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 5 月 20 日 至2025 年 5 月 20 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 股东会召开日期：2025年5月20日 本次股东会采用的网络投票系统：上海证券交易所股东大会网络投票系 统 （二） 股东会召集人：董事会 （三） 投票方式：本次股东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 （四） 现场会议召开的日期、时间和地点 东会召开当日的 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a total revenue of 548 million yuan in Q1 2025, representing a year-on-year increase of 18.95%, while the net profit attributable to shareholders decreased by 15.95% to 56 million yuan [4] - The company signed a long-term helium procurement agreement with Qatar Energy, ensuring a stable supply of helium for the next 20 years, which is expected to support the company's helium business development [4] - Despite a decline in gross margin and net margin, the operating cash flow significantly increased by 78.38% year-on-year to 156 million yuan in Q1 2025 [4] - The company is projected to achieve revenues of 2.527 billion yuan, 3.117 billion yuan, and 3.903 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding net profits of 340 million yuan, 476 million yuan, and 621 million yuan [4][5] Summary by Sections Recent Performance - In Q1 2025, the company achieved total revenue of 548 million yuan, up 18.95% year-on-year, while net profit decreased by 15.95% to 56 million yuan [4] Financial Metrics - The company's gross margin was 25.75%, down 4.99 percentage points year-on-year, and the net margin was 10.23%, down 4.39 percentage points year-on-year [4] - The operating cash flow reached 156 million yuan, reflecting a year-on-year growth of 78.38% [4] Future Projections - Revenue forecasts for 2025, 2026, and 2027 are 2.527 billion yuan, 3.117 billion yuan, and 3.903 billion yuan, respectively, with net profits of 340 million yuan, 476 million yuan, and 621 million yuan [5][6] - The projected P/E ratios for 2025, 2026, and 2027 are 43, 31, and 24 times, respectively [4][5]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688548 证券简称：广钢气体 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，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。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一) 主要会计数据和财务指标 单位：元 币种：人民币 (二) 非经常性损益项目和金额 √适用 □不适用 前10名股东及前10名无限售流通股股东因转融通出借/归还原因导致较上期发生变化 单位:元 币种:人民币 对公司将《公开发行证券的公司信息披露解释性公告第1号——非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号——非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 ...