Core Insights - The company reported a revenue of 418 million RMB for 2024, a year-on-year increase of 13%, but a net profit of 70 million RMB, a decrease of 12% year-on-year [1] - The company plans to distribute a cash dividend of 2.50 RMB per 10 shares, totaling 30 million RMB, with a payout ratio of 42.62% [5] - The company expects revenue growth for 2025-2027, projecting revenues of 499 million, 654 million, and 898 million RMB respectively, with corresponding net profits of 101 million, 130 million, and 195 million RMB [6] Financial Performance - In Q1 2025, the company achieved a revenue of 96 million RMB, a 9% increase year-on-year but a 10% decrease quarter-on-quarter [1] - The overall gross margin for 2024 was 35.40%, down 5.06 percentage points year-on-year, primarily due to increased costs from projects transitioning to fixed assets [1] Product Performance - The demand for soft magnetic powder increased due to the rise in automotive intelligence, leading to a revenue of 153 million RMB in 2024, a 19% increase year-on-year [4] - The revenue from atomized alloy powder products reached 46 million RMB in 2024, reflecting a 13% year-on-year increase, with sales volume up by 27% [2] - The revenue from carbonyl iron powder products was 122 million RMB in 2024, a 6% increase year-on-year, although the gross margin decreased by 4.91 percentage points due to production ramp-up effects [3] Capacity Expansion - The company is in the process of ramping up production capacity for its carbonyl iron powder and atomized alloy powder projects, with the carbonyl iron powder project expected to add 6,000 tons per year upon completion [4] - The first phase of the Ningxia project, which includes a 3,000-ton carbonyl iron powder project, is expected to enter trial production in 2025 [4] Investment Outlook - The company maintains an "Accumulate-A" rating, with a target price adjustment to 32.4 RMB per share, based on anticipated performance improvements from new production lines [6]

2025 年 05 月 08 日 悦安新材(688786.SH) MIM 技术替代和电感需求增长，新产能 渐迎释放 公司发布 2024 年报和 2025 年一季报 2024 年公司实现营收 4.18 亿元，同比+13%；归母净利 0.70 亿 元，同比-12%，扣非归母净利 0.67 亿元，同比-9%。2025Q1 实现 营收 0.96 亿元，同比+9%，环比-10%；归母净利 0.17 亿元，同比 +0.3%，环比+20%；扣非归母净利润 0.16 亿元，同比+7%，环比 +7%。 公司全年整体毛利率 35.40%，同比-5.06pct，主要因募投项目转 固，但项目仍处于产能爬坡阶段，折旧等营业成本增加。 电感需求增长提振软磁粉需求，技术替代提升 MIM 需求 ✔雾化合金粉：产销量和毛利率均同增。24 年全年雾化合金粉系 列产品营收 0.46 亿，同比+13%。24 年全年产品销售 867 吨，同 比+27%；产量 913 吨，同比 33%。毛利率 19.08%，同比+2.21pct。 ✔羰基铁粉：产销量维持增长，毛利率或受募投项目爬产影响。 24 年全年羰基铁粉系列产品营收 1.22 亿，同比+6%，24 ...

证券代码：688786 证券简称：悦安新材 公告编号：2025-024 江西悦安新材料股份有限公司 江西悦安新材料股份有限公司董事会 2025 年5 月9 日 附件：于缘宝先生简历 于缘宝先生，1968 年出生，中国国籍，无境外永久居留权，本科学历，高级工程 师。1992 年 7月至 2005 年 3月任广州番禺桥丰水泥制品有限公司总经理、总工程师； 2005 年 3 月至 2008 年 2 月任天津建成基业集团有限公司副总经理；2008 年 3 月至 201 4 年 6 月任唐山市龙禹水泥制品有限公司曹妃甸分公司总经理；2014 年 6 月至 2015 年 2 月任广东奔达建材有限公司总工程师；2016 年 11 月至今任江西悦安新材料股份有限 公司董事；2019 年 6 月至今任江西悦安新材料股份有限公司总经理助理、副总工程师。 截至本公告披露日，于缘宝先生持有公司股份 11,459,000 股（占公司总股本的 9.56%），通过江西百富源新材料创业投资基金（有限合伙）间接持有公司 6,941 股 （占公司总股本的 0.01%）。于缘宝先生与公司控股股东、实际控制人及其他董事、 监事、高级管理人员之间不存 ...

江西悦安新材料股份有限公司 2024 年年度股东会会议资料 江西悦安新材料股份有限公司 2024年年度股东会会议资料 证券代码：688786 证券简称：悦安新材 江西悦安新材料股份有限公司 2024 年年度股东会 会议资料 中国江西 二〇二五年五月 2024 年年度股东会会议资料 目录 | 年年度股东会会议资料 1 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 2024 | | | 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 年度财务决算报告的议案 | 9 | | 议案四：关于 2025 年度非独立董事薪酬方案的议案 | 10 | | 议案五：关于 2025 年度独立董事薪酬方案的议案 | 11 | | 议案六：关于 2025 年度监事薪酬方案的议案 | 12 | | 议案七：关于续聘 2025 年度会计师事务所的议案 | 13 | | 议案八：关于 2024 年度利润分配及 ...

光大证券股份有限公司 关于江西悦安新材料股份有限公司 2024 年度持续督导跟踪报告 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》《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有关 法律、法规的规定，光大证券股份有限公司（以下简称"光大证券"或"保荐机 构"）作为江西悦安新材料股份有限公司（以下简称"悦安新材"、"公司"或 "发行人"）持续督导的保荐机构，负责悦安新材的持续督导工作，并出具 2024 年度持续督导跟踪报告。 一、持续督导工作情况 | 序号 | 工作内容 | 持续督导情况 | | --- | --- | --- | | 1 | | 保荐机构已建立健全并有效执行 | | | 建立健全并有效执行持续督导工作制度，并针 | 了持续督导制度，已根据公司的 | | | 对具体的持续督导工作制定相应的工作计划。 | 具体情况制定了相应的工作计 | | | | 划。 | | 2 | 根据中国证监会相关规定，在持续督导工作开 | | | | 始前，与上市公司签署持续督导协议，明确双 | 保荐机构已与公司签署持续督导 | | | 方在持续督导期间的权利义务，并报上海 ...

光大证券现根据《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》《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，出具本保荐总结报告书： 一、保荐人及保荐代表人承诺 1、保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误 导性陈述或重大遗漏，保荐人及保荐代表人对其真实性、准确性、完整性承担 法律责任。 2、本机构及保荐代表人自愿接受中国证券监督管理委员会（以下简称"中 国证监会"）、上海证券交易所对保荐总结报告书相关事项进行的任何质询和 调查。 3、本机构及保荐代表人自愿接受中国证监会按照《证券发行上市保荐业 务管理办法》的有关规定采取的监管措施。 光大证券股份有限公司 关于江西悦安新材料股份有限公司 首次公开发行股票并在科创板上市之持续督导保荐总结报告书 光大证券股份有限公司（以下简称"光大证券"、"保荐人"或"本机构"） 为江西悦安新材料股份有限公司（以下简称"悦安新材"、"公司"、"上市 公司"或"发行人"）首次公开发行股票并在科创板上市的持续督导保荐人。 截至 2024 年 12 月 31 日，悦安新材首次公开发行股票并在科创板上市的持续 督导期 ...

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [6][17]. Core Views - The company achieved a revenue of 418 million yuan in 2024, representing a year-over-year increase of 13.4%, while the net profit attributable to the parent company was 70.29 million yuan, down 12% year-over-year [1][5]. - The company is currently in a capacity ramp-up phase for its IPO-funded carbonyl iron powder project, which is expected to double its production capacity from 5,500 tons to 11,500 tons, contributing to future revenue growth [4][5]. - The company is focusing on optimizing its product structure towards high-end products, which is anticipated to enhance profitability as scale effects become evident [4][5]. Financial Performance Summary - In 2024, the company reported revenues of 418 million yuan, with a growth rate of 13.38% expected for 2025 [5][12]. - The gross profit margin for carbonyl iron powder was 44.76%, while the overall gross margin was 35.22%, reflecting a decline of 3.85 percentage points year-over-year [3][5]. - The net profit margin for 2024 was 16.23%, down 5.15 percentage points year-over-year, primarily due to increased operating costs from the ramp-up of new projects [3][5]. Capacity and Production Insights - The company’s carbonyl iron powder project reached its intended usable state by the end of Q3 2023 and is currently ramping up production based on market demand [4]. - The company plans to release additional capacity for high-performance powders, including 2,000 tons of soft magnetic powder, which is expected to further enhance its market position [4]. Future Profitability Projections - The projected net profits for the company are estimated to be 110.52 million yuan in 2025, 135.08 million yuan in 2026, and 169.26 million yuan in 2027, reflecting a significant growth trajectory [5][12]. - The company’s price-to-earnings ratio is projected to decrease from 26 times in 2025 to 17 times in 2027, indicating an improving valuation as profitability increases [5][12].

10只科创板股大宗交易平台4月29日发生交易，合计成交2.09亿元。 证券时报·数据宝统计显示，4月29日共有10只科创板股发生大宗交易，合计成交21笔，累计成交量 611.49万股，成交额合计2.09亿元。 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 统计显示，成交金额最多的是派能科技，大宗交易成交量为305.63万股，成交金额1.22亿元；其次是国 博电子、悦安新材，大宗交易金额分别为3311.27万元、1405.30万元。（数据宝） （文章来源：证券时报网） 科创板股4月29日大宗交易概况 | 代码 | 简称 | 成交笔 | 大宗交易数量 | 平均成交价格 | 相对收盘价折溢价 | 大宗交易金额 | | --- | --- | --- | --- | --- | --- | --- | | | | 数 | （万股） | （元） | （%） | （万元） | | 688063 | 派能科 技 | 1 | 305.63 | 40.00 | -1.60 | 12225.20 | | 688375 | 国博电 子 | 7 | 71.75 | 46.15 | -6.90 | 3311.27 | ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688786 证券简称：悦安新材 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 主要会计数据和财务指标 单位：元 币种：人民币 注：根据相关规定，公司股本因资本公积金转增股本发生变化且不影响股东权益金额的，应当按照最新 股本调整并列报基本每股收益和稀释每股收益。故公司实施完成2023年度权益分派方案后，按照调整后 的股数重新计算2024年同期每股收益。 非经常性损益项目和金额 √适用 □不适用 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 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥96,217,522.71, representing a 9.19% increase compared to ¥88,121,091.97 in the same period last year[3] - The net profit attributable to shareholders was ¥16,834,531.59, showing a slight increase of 0.31% from ¥16,782,908.05 year-on-year[3] - The net cash flow from operating activities surged by 331.30%, reaching ¥31,011,035.18, compared to ¥7,190,208.45 in the previous year[3] - Total operating revenue for Q1 2025 was CNY 96,217,522.71, an increase of 9.5% compared to CNY 88,121,091.97 in Q1 2024[15] - Net profit for Q1 2025 reached CNY 16,720,385.24, slightly up from CNY 16,495,580.46 in Q1 2024, reflecting a growth of 1.4%[16] - Operating profit for Q1 2025 was CNY 19,569,302.77, compared to CNY 19,494,132.99 in the same period last year, indicating a marginal increase[16] - Total operating costs for Q1 2025 were CNY 77,444,657.95, up from CNY 71,598,562.89 in Q1 2024, representing an increase of 8.2%[15] Assets and Liabilities - Total assets at the end of the reporting period were ¥944,752,181.36, reflecting a 4.08% increase from ¥907,714,052.38 at the end of the previous year[4] - As of March 31, 2025, the total current assets amounted to CNY 391,961,766.20, an increase of 7.5% from CNY 364,177,061.42 on December 31, 2024[12] - Total assets reached CNY 944,752,181.36, compared to CNY 907,714,052.38 at the end of 2024, marking a growth of 4.1%[13] - Total liabilities increased to CNY 210,906,011.17 from CNY 191,008,441.45, representing a rise of 10.0%[14] Shareholder Information - The equity attributable to shareholders increased by 2.43%, amounting to ¥727,996,188.22 compared to ¥710,741,482.61 at the end of the last year[4] - The company’s equity attributable to shareholders rose to CNY 727,996,188.22, up from CNY 710,741,482.61, reflecting a growth of 2.9%[14] - The total number of ordinary shareholders at the end of the reporting period was 3,980[10] Cash and Cash Equivalents - Cash and cash equivalents increased to CNY 111,520,574.11 from CNY 91,190,381.15, reflecting a growth of 22.2%[12] - Cash and cash equivalents at the end of Q1 2025 totaled CNY 105,183,985.11, compared to CNY 155,581,363.85 at the end of Q1 2024[19] Research and Development - Research and development (R&D) expenses totaled ¥4,459,760.31, a decrease of 3.92% from ¥4,641,503.28, with R&D expenses accounting for 4.64% of operating revenue[3] - Research and development expenses for Q1 2025 were CNY 4,459,760.31, slightly down from CNY 4,641,503.28 in Q1 2024[15] Other Financial Metrics - The basic and diluted earnings per share remained unchanged at ¥0.14[3] - The company’s basic and diluted earnings per share remained stable at CNY 0.14 for both Q1 2025 and Q1 2024[16] - The weighted average return on equity decreased slightly to 2.34%, down by 0.02 percentage points from 2.36%[3] - The company reported non-recurring gains of ¥1,214,691.48 for the period, after accounting for tax and minority interests[7] - Other comprehensive income after tax for Q1 2025 was CNY 119,513.28, a recovery from a loss of CNY -70,445.24 in Q1 2024[16] Inventory and Accounts - Inventory levels increased to CNY 106,691,967.11 from CNY 103,567,536.28, showing a growth of 3.2%[12] - Accounts receivable rose to CNY 84,479,462.12, up from CNY 76,709,822.11, indicating a 10.3% increase[12] - The company reported a significant increase in accounts payable, which rose to CNY 58,092,919.47 from CNY 43,343,920.15, a growth of 34.0%[14] Investment Activities - The company reported a net cash outflow from investing activities of CNY -21,250,054.70 in Q1 2025, compared to CNY -30,209,169.22 in Q1 2024[19] Shareholder Changes - The company has not reported any changes in major shareholders or significant events affecting the business during the reporting period[11]