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 （一） 股东大会召开的时间：2025 年 3 月 17 日 （二） 股东大会召开的地点：北京市通州区马驹桥镇景盛南二街 17 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： | 1、出席会议的股东和代理人人数 | 18 | | --- | --- | | 普通股股东人数 | 18 | | 2、出席会议的股东所持有的表决权数量 | 112,753,026 | | 普通股股东所持有表决权数量 | 112,753,026 | | 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 | 50.1867 | | 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（%） | 50.1867 | 证券代码：688722 证券简称：同益中 公告编号：2025-011 北京同益中新材料科技股份有限公司 2025 年第一次临时股东大会决议公告 3、 ...

1 法律意见书 北京市中伦律师事务所 关于北京同益中新材料科技股份有限公司 2025 年第一次临时股东大会的 法律意见书 致：北京同益中新材料科技股份有限公司 北京市中伦律师事务所（以下简称"本所"）接受北京同益中新材料科技股 份有限公司（以下简称"公司"）委托，指派律师见证公司 2025 年第一次临时 股东大会（以下简称"本次股东大会"）。本所律师根据《中华人民共和国公司 法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证 券法》"）、《上市公司股东大会规则》（以下简称"《股东大会规则》"）、 《律师事务所从事证券法律业务管理办法》等相关法律、法规、规章、规范性文 件及《北京同益中新材料科技股份有限公司章程》（以下简称"《公司章程》"） 的规定，对本次股东大会的相关事项进行见证并出具法律意见。 为出具本法律意见书，本所律师审查了公司本次股东大会的有关文件和材料。 本所律师出具本法律意见书基于公司向本所律师提供的一切原始材料、副本、复 印件等材料、口头证言均是真实、准确、完整和有效的，不存在隐瞒记载、虚假 陈述或重大遗漏，有关文件的印章和签字均真实、有效，有关副本、复印件等材 料均与原始 ...

二、监事会会议审议情况 （一）审议通过《关于选举第三届监事会主席的议案》。 公司监事一致同意选举杨雪担任公司第三届监事会主席，任期自第三届监 事会第一次会议审议通过之日起至第三届监事会任期届满之日止。 证券代码：688722 股票简称：同益中 公告编号：2025-008 北京同益中新材料科技股份有限公司 第三届监事会第一次会议决议公告 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 北京同益中新材料科技股份有限公司（以下简称"公司"）第三届监事会 第一次会议于2025年3月17日以现场会议方式召开。本次会议通知于同日召开 2025年第一次临时股东大会后以书面方式送达公司全体监事，全体监事一致同 意豁免本次监事会会议的通知时限，与会监事均已知悉与所议事项相关的必要 信息。经全体监事共同推举，本次会议由监事杨雪主持,本次会议应出席的监事 3人，实际出席会议的监事3人。本次会议的召集、召开和表决情况符合《中华 人民共和国公司法》以及《北京同益中新材料科技股份有限公司章程》的相关 规定。 表决结果：3票同意 ...

第三届董事会第一次会议决议公告 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。 一、董事会会议召开情况 证券代码：688722 股票简称：同益中 公告编号：2025-010 北京同益中新材料科技股份有限公司 北京同益中新材料科技股份有限公司（以下简称"公司"）第三届董事会 第一次会议（以下简称"本次会议"）于2025年3月17日以现场结合通讯会议方 式召开。本次会议通知于同日召开2025年第一次临时股东大会后送达公司全体 董事，全体董事一致同意豁免本次会议的通知时限要求，与会董事均已知悉与 所议事项相关的必要信息。经全体董事共同推举，本次会议由董事黄兴良主持, 本次会议应出席的董事9人，实际出席的董事9人。本次会议的召集、召开和表 决情况符合《中华人民共和国公司法》（以下简称"《公司法》"）以及《北 京同益中新材料科技股份有限公司章程》（以下简称"《公司章程》"）的相 关规定。 二、董事会会议审议情况 （一）审议通过《关于选举第三届董事会董事长的议案》。 公司董事会同意选举黄兴良担任公司第三届董事会董事长，任期自公司第 三 ...

Investment Rating - The report maintains an "Overweight" rating for the defense materials industry [3] Core Insights - The defense materials sector is expected to see a recovery in demand in 2025, driven by the release of pent-up demand and significant orders in high-certainty areas like aerospace and defense [11][12] - The report highlights the importance of advanced materials such as ceramic matrix composites and titanium alloys, which are crucial for enhancing the performance of military equipment [30][31] - The application of 3D printing technology is expanding in both military and civilian sectors, leading to innovations in product design and manufacturing efficiency [6][34] Summary by Sections Industry Analysis - The report discusses the establishment of a ceramic matrix composite technology innovation center in Sichuan, which aims to accelerate the development of advanced materials for aerospace applications [2][30] - The demand for ceramic matrix composites is projected to increase due to their superior high-temperature resistance and lightweight properties, which can reduce component weight by 30% to 50% compared to high-temperature alloys [31] Market Performance - In February, the Zhonghang Securities defense materials index increased by 4.72%, outperforming the Shenwan defense index by 1.05 percentage points [8][37] - The report notes that 2024 is expected to be a challenging year for defense materials companies, with 10 out of 23 companies reporting profit growth while 13 experienced declines [9] Investment Logic - The report emphasizes the potential for recovery in the defense materials sector in 2025, as the industry is expected to benefit from increased military spending and the release of accumulated orders [11][12] - It suggests that companies focusing on high-temperature alloys, titanium alloys, and composite materials should be closely monitored for investment opportunities [20][48] Recommendations - The report recommends focusing on companies such as Guangwei Composite, Zhongfu Shenying, and Jialiqi in the carbon fiber composite sector; Fushun Special Steel and Gangyan High-tech in high-temperature alloys; and Xibu Superconductor and Baotai in titanium alloys [20][48]

Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [4][16]. Core Views - The company's performance is driven by capacity release and structural optimization, leading to a recovery in earnings, with Q4 2024 net profit showing a significant year-on-year increase of 130.5% [5][7]. - The company achieved a revenue of 649 million yuan in 2024, a year-on-year growth of 1.4%, while the net profit for the same year was 136 million yuan, reflecting a decline of 15.3% [4][5]. - The acquisition of Chaomeisi for 240 million yuan is expected to enhance the company's capabilities in emerging fields such as low-altitude economy and humanoid robotics [6][7]. Financial Summary - The company’s annual production capacity for UHMWPE fibers reached 8,560 tons by the end of 2024, with a utilization rate of 111.43%, while composite material capacity increased to 2,175 tons with a utilization rate of 78.27% [5]. - Revenue projections for 2024-2026 are 649 million yuan, 984 million yuan, and 1,250 million yuan, respectively, with corresponding net profits of 136 million yuan, 195 million yuan, and 224 million yuan [9][12]. - The expected EPS for 2024, 2025, and 2026 are 0.60 yuan, 0.87 yuan, and 1.00 yuan, respectively, with a projected PE ratio decreasing from 27.41 in 2024 to 16.61 in 2026 [9][12].

Investment Rating - The report maintains a "Buy" rating for the company [1][4][7] Core Views - The company's performance recovery is driven by capacity release and structural optimization, with Q4 2024 earnings exceeding expectations [5][6] - The company achieved a revenue of 649 million yuan in 2024, a year-on-year increase of 1.4%, while the net profit attributable to shareholders was 136 million yuan, a decline of 15.3% [4][5] - In Q4 2024, the company reported a net profit of 49 million yuan, a significant year-on-year growth of 130.5% [4][5] Summary by Sections Company Performance - By the end of 2024, the company's UHMWPE fiber annual production capacity reached 8,560 tons, with a utilization rate of 111.43%, and composite material capacity increased to 2,175 tons, with a utilization rate of 78.27% [5] - The company effectively mitigated the downward pressure on fiber prices by exiting high-cost old production capacity and improving production efficiency, maintaining stable gross margins in its main business [5] Mergers and Acquisitions - The acquisition of Chaomeisi for 240 million yuan for a 75.8% stake is expected to help the company expand into low-altitude economy and humanoid robotics sectors [6] - Chaomeisi has an annual production capacity of 5,000 tons of aramid fiber and 2,000 tons of aramid paper, serving major clients such as Airbus and AVIC [6] Financial Forecast - The company is projected to have earnings per share (EPS) of 0.60 yuan, 0.87 yuan, and 1.00 yuan for the years 2024, 2025, and 2026 respectively [7][9] - Revenue is expected to grow significantly, with projections of 984 million yuan in 2025 and 1,250 million yuan in 2026, reflecting growth rates of 51.49% and 27.07% respectively [9][12]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][19]. Core Views - The company reported a 130% year-on-year increase in net profit attributable to shareholders in the fourth quarter, exceeding expectations for 2024 [1][7]. - The company is benefiting from new production capacity and cost reduction efforts, which are expected to drive revenue growth despite industry challenges [2][8]. - The acquisition of a leading aramid fiber company, ChaoMeiSi, aims to enhance the company's high-performance fiber industry system and improve product value [3][9]. Financial Performance Summary - For 2024, the company expects total revenue of 649 million yuan, a 1.4% increase year-on-year, and a net profit of 130 million yuan, a 15.5% decrease year-on-year [4][10]. - The fourth quarter revenue reached 220 million yuan, representing an 82.5% year-on-year increase, while net profit for the quarter was 50 million yuan, up 130.5% year-on-year [1][7]. - The company anticipates a recovery in industry demand and profitability in the second half of 2024, driven by new capacity and improved market conditions [2][8]. Production Capacity and Growth - The company has a current production capacity of 7,960 tons/year for ultra-high molecular weight polyethylene fibers and 2,800 tons/year for non-woven fabrics [2][8]. - New production capacity of 2,640 tons/year for ultra-high molecular weight polyethylene fibers and 1,250 tons/year for non-woven fabrics is expected to come online in 2024 [2][8]. - The company aims to achieve record sales volumes for both fibers and non-woven fabrics in 2024 [2][8]. Acquisition and Strategic Development - The company completed the acquisition of ChaoMeiSi for 240 million yuan, which will enhance its capabilities in the aramid fiber market [3][9]. - The integration of ChaoMeiSi is expected to create synergies in production technology and downstream applications, strengthening the company's overall solution offerings in protective materials [3][9]. Earnings Forecast - The company forecasts net profits of 130 million yuan in 2024, 190 million yuan in 2025, and 219 million yuan in 2026, with corresponding growth rates of -15.5%, 46.4%, and 15.5% respectively [4][10][12]. - The expected diluted EPS for the same period is projected to be 0.58 yuan, 0.85 yuan, and 0.98 yuan, with PE ratios of 27.1, 18.5, and 16.0 [4][10][12].

Investment Rating - The investment rating for the company is "Outperform the Market" [5][19]. Core Views - The company reported a 130% year-on-year increase in net profit attributable to shareholders in the fourth quarter, exceeding expectations for 2024 [1][7]. - The company is benefiting from new production capacity and cost reduction efforts, which are expected to drive revenue growth despite industry challenges [2][8]. - The acquisition of a leading aramid fiber company, ChaoMeiSi, aims to enhance the company's high-performance fiber industry system and improve product value [3][9]. Financial Performance - In 2024, the company achieved total revenue of 650 million yuan, a year-on-year increase of 1.4%, while net profit attributable to shareholders was 130 million yuan, a decrease of 15.3% [1][7]. - The fourth quarter alone saw revenue of 220 million yuan, up 82.5% year-on-year, and net profit of 50 million yuan, up 130.5% year-on-year [1][7]. - The company expects net profits for 2024-2026 to be 130 million, 190 million, and 220 million yuan, respectively, with corresponding growth rates of -15.5%, 46.4%, and 15.5% [3][10]. Production Capacity and Cost Efficiency - The company has a total production capacity of 7,960 tons/year for ultra-high molecular weight polyethylene fibers and 2,800 tons/year for non-woven fabrics and related bulletproof products [2][8]. - In 2024, the company plans to add 2,640 tons/year of ultra-high molecular weight polyethylene fiber capacity and 1,250 tons/year of non-woven fabric capacity [2][8]. - The company is actively phasing out high-cost old production capacity while benefiting from the release of new capacity, which is expected to lead to record sales volumes in 2024 [2][8]. Strategic Acquisition - The company announced the acquisition of 75.8% of ChaoMeiSi for 240 million yuan, which was completed by the end of January 2025 [3][9]. - ChaoMeiSi is a leader in the meta-aramid fiber industry with a production capacity of 5,000 tons/year, which will complement the company's existing product offerings [3][9]. - This acquisition is expected to enhance the company's overall solution capabilities in the protective field and improve cost efficiency [3][9].

Investment Rating - The report maintains a "Buy-A" rating for the company [1][7]. Core Views - The company achieved record high production and sales of fibers and non-woven fabrics in 2024Q4, leading to a significant improvement in profitability [4]. - The company’s total revenue for 2024 reached 649 million yuan, a year-on-year increase of 1.41%, while net profit attributable to shareholders was 130 million yuan, down 15.25% year-on-year [3]. - The company’s gross profit margin remains high, with a notable increase in profitability in the fourth quarter of 2024 due to enhanced core competitiveness and cost reductions [4]. Financial Performance Summary - In 2024Q4, the company reported total revenue of 222 million yuan, with a quarter-on-quarter increase of 82.46% and a year-on-year increase of 28.04% [3]. - The net profit margin for 2024Q4 was approximately 21.96%, reflecting a year-on-year increase of 4.59 percentage points [4]. - The company’s EPS for 2024 is projected to be 0.58 yuan, with expected EPS of 0.88 yuan and 1.19 yuan for 2025 and 2026, respectively [6][7]. Market and Production Capacity - The company’s production capacity for UHMWPE fibers and non-woven fabrics reached 5320 tons and 1550 tons, respectively, with a total capacity increase of 2640 tons compared to the beginning of the year [5]. - The global high-performance fiber market is projected to grow from 1319.17 billion yuan in 2023 to 2389.83 billion yuan by 2029, with a CAGR of 10.41% [5]. Future Outlook - The company is expected to benefit from the release of new production capacity and a rebound in high-margin composite orders, leading to anticipated revenue growth [7]. - The projected P/E ratios for 2024-2026 are 27, 18, and 13 times, respectively, indicating a favorable valuation outlook as the company’s performance improves [6][7].