目前公司整体负债率不到 40%，资金来源包括自有资金和银行贷款，也不排除 未来再次进行定增融资。在完成此次投资后，公司整体负债率将刚刚超过 40%。作为国有企业，公司过去主要依靠自有资金和银行贷款融资，因此未来 融资空间较大。 耀皮玻璃此次资本开支设备是以外采为主还是自主研发？进口设备是否会影响 进度？ 耀皮玻璃 20251209 摘要 耀皮玻璃计划投资 7 亿多元扩产汽车玻璃，主要集中在宜真，上海、武 汉、天津和桂林基地也将陆续进行补充性投资和扩展，预计明年六七月 份逐步投产，全部放量后预计产出可达 8 至 10 亿元，以应对新能源汽 车订单旺盛和海外合作伙伴的需求。 公司整体负债率不到 40%，资金来源包括自有资金和银行贷款，不排除 未来再次进行定增融资。完成此次投资后，公司整体负债率将刚刚超过 40%，融资空间较大。 新增产能将继续与伟巴斯特等全球知名企业合作，同时覆盖上汽、广汽、 北汽等传统车企，以及比亚迪、蔚小理等新能源车企，并布局天幕产品。 公司通过分阶段、有节奏地推进项目来应对潜在风险，及时调整投放节 奏。 新能源汽车对玻璃提出了智能化和高附加值的新要求，如天幕和变色玻 璃等，推动了汽车用玻璃量 ...

Summary of the Conference Call for Yao Pi Glass Industry Overview - The float glass market is experiencing an overall downturn, but the automotive processing glass segment driven by new energy vehicles shows strong demand, expected to continue growing from the second half of 2024 to 2025. Fuyao dominates the market with a 70% share, while Yao Pi holds less than 20% [2][3] - The photovoltaic glass market is divided into two types: rolled glass and PCO (transparent conductive oxide) glass. Rolled photovoltaic glass is under pressure, but prices have stabilized with the coordination of the Ministry of Industry and Information Technology [2][3] Company Performance and Strategy - After acquiring Asahi Glass's Dalian production line, Yao Pi quickly became profitable, providing high-quality float and coated products, mainly focused on the cadmium telluride (CdTe) sector. There is some customer interest in perovskite technology, but large-scale production has not yet been achieved [2][5] - The company plans to focus on high-quality float and coated products, actively participating in the development of CdTe and perovskite technologies, and strengthening collaboration with customers to customize TCO substrates [7][17] Growth in Specific Segments - The demand for power-generating glass is steadily increasing, with some cities requiring that 25% of new buildings use power-generating glass. Yao Pi's business in this area is growing rapidly, with a projected 100% increase from 2024 to 2025 [4][8] - The Dalian Yao Pi plant is operating at full capacity, with PTO products accounting for about 20% of total capacity, also producing high-grade float glass for automotive applications [4][13] Technological Developments - Perovskite technology is developing rapidly but faces long-term stability issues. Many companies are actively researching and procuring raw materials from Yao Pi, but large-scale production information remains unclear [6][11] - TCO glass accounts for approximately 30% to 40% of the cost in both CdTe and perovskite batteries, making it a crucial component rather than just an accessory [12] Market Dynamics - The CdTe battery market is currently small, and even with a 100% annual growth rate, the total volume remains limited. The timeline for large-scale production of perovskite batteries is uncertain, which will affect TCO glass demand in the short term [11] - Yao Pi has established capabilities to supply TCO products since 2011, leveraging technologies from top brands like Pilkington and Asahi Glass, enhancing its competitive edge [17] Production Capacity and Future Plans - Yao Pi has sufficient production capacity to meet potential rapid demand growth, with additional production lines in Tianjin and Changshu ready to be equipped for mass production [16][18] - The company aims to expand its end-user applications, particularly in high-end power generation solutions for construction, to meet the growing market demand [7]

Financial Performance - The company reported a basic earnings per share of 0.0500 yuan for Q1 2025, a significant increase of 400% compared to 0.0100 yuan in Q1 2024, and a recovery from a loss of -0.0700 yuan in Q1 2023 [1] - Net profit for Q1 2025 was 0.43 billion yuan, up 258.33% from 0.12 billion yuan in Q1 2024, and a recovery from a loss of -0.66 billion yuan in Q1 2023 [1] - Operating revenue decreased by 5.4% to 12.62 billion yuan in Q1 2025 from 13.34 billion yuan in Q1 2024, but increased from 10.41 billion yuan in Q1 2023 [1] - The return on equity (ROE) improved to 1.23% in Q1 2025 from 0.36% in Q1 2024, recovering from -1.91% in Q1 2023 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 56,727.66 million shares, accounting for 60.67% of the circulating shares, with a change of 852,800 shares from the previous period [2] - Shanghai Building Materials (Group) Co., Ltd. remains the largest shareholder with 29,762.54 million shares, representing 31.83% of total share capital, unchanged from the previous period [2] - China Composite Materials Group Co., Ltd. and NSG UK Enterprises Limited also maintained their holdings at 11,909.05 million shares (12.74%) and 10,004.67 million shares (10.70%) respectively [2] Dividend Policy - The company has decided not to distribute dividends or transfer shares in the current period [3]

Core Viewpoint - The company plans to distribute a cash dividend of 0.007 RMB per share to all shareholders, which represents 30.58% of the net profit attributable to shareholders for the year [2][3]. Profit Distribution Plan - The total number of shares for the profit distribution is 934,916,069, leading to a total cash dividend of approximately 35.53 million RMB [2]. - The company will not conduct capital reserve transfers or issue bonus shares this year [2]. - If there are changes in the total share capital before the dividend distribution date, the company will adjust the per-share distribution accordingly while maintaining the total distribution amount [2][3]. Decision-Making Process - The profit distribution plan was approved by the board of directors with a unanimous vote of 8 in favor and no opposition [3]. - The supervisory board also approved the plan with a vote of 3 in favor [3]. - The proposal will be submitted for approval at the company's 2024 annual general meeting [3][4].

Financial Performance - The company reported a basic earnings per share of 0.1200 yuan, a significant increase of 192.31% compared to a loss of 0.1300 yuan in the previous year [1] - Net profit reached 1.16 billion yuan, a turnaround from a loss of 1.25 billion yuan in the previous year, marking a 192.8% increase [1] - Operating revenue was 56.36 billion yuan, showing a slight increase of 0.86% from 55.88 billion yuan in the previous year [1] - The return on equity improved to 3.40%, compared to a negative 3.67% in the previous year [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 56,642.38 million shares, accounting for 60.58% of the circulating shares, with an increase of 432.96 million shares from the previous period [1] - Shanghai Building Materials (Group) Co., Ltd. is the largest shareholder with 29,762.54 million shares, representing 31.83% of the total share capital, with an increase of 334.38 million shares [2] - New entrants in the top ten shareholders include Haitong International Securities Company Limited-Account Client, holding 2,399.20 million shares, and others [2] Dividend Distribution - The company announced a dividend distribution plan of 0.070 yuan per share (including tax) [2]

Financial Performance - The company's operating revenue for the first half of 2024 reached ¥2,750,117,861.12, representing a 14.84% increase compared to ¥2,394,761,567.18 in the same period last year[14]. - The net profit attributable to shareholders of the listed company was ¥62,621,744.88, a significant recovery from a loss of ¥99,193,801.78 in the previous year[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥51,052,994.14, improving from a loss of ¥120,232,096.91 in the same period last year[14]. - The net cash flow from operating activities was ¥267,039,683.92, a substantial increase from ¥10,126,032.13 in the previous year, marking a growth of 2,537.16%[14]. - Basic earnings per share for the first half of 2024 is CNY 0.07, compared to a loss of CNY 0.11 in the same period last year, marking a significant improvement[15]. - The weighted average return on equity increased by 4.74 percentage points to 1.84% from -2.90% year-on-year[15]. - The total profit for the period was CNY 82,249,417.14, a significant recovery from a total loss of CNY 115,756,296.80 in the same period last year[81]. - The total comprehensive income for the period was CNY 71,623,129.55, compared to a total comprehensive loss of CNY 119,595,922.27 in the same period last year[81]. Asset and Liability Management - The net assets attributable to shareholders at the end of the reporting period were ¥3,427,205,949.77, up 1.72% from ¥3,369,258,785.24 at the end of the previous year[14]. - Total assets at the end of the reporting period were ¥8,009,218,931.27, showing a slight decrease of 0.06% from ¥8,013,902,416.00 at the end of the previous year[14]. - The company's total liabilities decreased to ¥1,782,446,148.73 from ¥1,840,808,696.92, indicating a reduction of approximately 3.15%[77]. - The total equity attributable to the parent company at the end of the first half of 2024 is RMB 4,584,570,730.72, an increase from RMB 4,438,425,859.08 at the end of the first half of 2023, reflecting a growth of approximately 3.3%[92][94]. Operational Efficiency - The company implemented cost reduction measures and adjusted product structure in the float glass segment, achieving a turnaround from loss to profit[15]. - The automotive glass segment adopted an integrated upstream and downstream strategy, resulting in positive profit trends[15]. - The company achieved a turnaround in the float glass segment by improving product structure and reducing procurement costs, resulting in profitability[22]. - The automotive glass segment reported a significant increase in net cash inflow from operating activities, driven by optimized product structure and enhanced production efficiency[23]. Market Conditions and Challenges - The real estate market saw a significant decline, with a 21.8% drop in completed housing area in the first half of 2024, impacting demand for glass products[18]. - The float glass price rapidly declined in the first half of 2024, leading to continued downward pressure on industry gross margins[18]. - The automotive industry experienced a 4.9% increase in production and a 6.1% increase in sales in the first half of 2024, indicating a recovery in demand[18]. Research and Development - The company focuses on developing high-value-added differentiated glass products, including low-emission glass and photovoltaic glass, to enhance market competitiveness[19]. - The company has 117 ongoing research projects in the automotive glass sector as of the first half of 2024, focusing on innovation and efficiency[23]. - The company successfully developed new products such as electric heating glass and electromagnetic shielding glass, contributing to a notable increase in sales revenue[23]. Environmental Compliance and Sustainability - The company emphasized its commitment to environmental protection and compliance with pollution control standards, with no exceedances reported in emissions[42]. - The total emissions reported for the first half of 2024 were 0.303 tons for particulate matter, 0.418 tons for SO2, and 16.388 tons for NOx[42]. - The company has installed flue gas desulfurization and denitrification systems on its float glass production lines, which have been operating effectively during the reporting period[48]. - The company has committed to using natural gas and green electricity in production to minimize environmental impact[57]. Shareholder and Governance Matters - The company held its first temporary shareholders' meeting on February 28, 2024, where all resolutions were approved[38]. - The annual shareholders' meeting on June 27, 2024, also approved all proposed resolutions, including the financial budget for 2024[38]. - Changes in the board of directors included the election of Zhang Heng, Shang Jiangang, and Chen Shuyun as new independent directors[40]. - The company has maintained a solid governance structure, ensuring effective risk management and sustainable growth[21]. Financial Management and Investments - The company has implemented a comprehensive procurement strategy to lower overall procurement costs by optimizing raw material sourcing[22]. - The company received industry support funds from Shanghai Construction Material Group Co., Ltd., contributing to its financial stability[63]. - The company reported a significant reduction in financial expenses by 30.20% due to decreased exchange gains[24]. Credit and Risk Management - The company faces risks from fluctuating raw material prices, particularly for natural gas and soda ash, which may impact production costs[35]. - The company aims to improve its credit policy and enhance customer credit risk management to mitigate potential credit risks[35].

2023 年半年度报告 公司代码:600819 公司简称:耀皮玻璃 上海耀皮玻璃集团股份有限公司 2023 年半年度报告 1 / 149 2023 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性,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。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人殷俊、主管会计工作负责人高飞及会计机构负责人(会计主管人员)王晨声明: 保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中涉及未来计划或规划等前瞻性陈述的,均不构成公司对投资者的实质承诺,投资者 及相关人士均应对此保持足够的风险认识,并且应当理解计划、预测与承诺之间的差异。敬请投 资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况? 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准 ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 2,126,616,842.53, a decrease of 1.29% compared to CNY 2,154,361,532.66 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2022 was CNY 25,595,914.51, representing a significant decline of 78.37% from CNY 118,356,491.33 in the previous year[18]. - The net cash flow from operating activities decreased by 51.64%, amounting to CNY 152,918,392.27 compared to CNY 316,208,057.13 in the same period last year[19]. - Basic earnings per share dropped by 76.92% to CNY 0.03 from CNY 0.13 in the same period last year[20]. - The weighted average return on net assets decreased by 2.65 percentage points to 0.73% from 3.38% in the previous year[20]. - The company reported a net profit excluding non-recurring gains and losses of CNY -26,634,577.72, which is not comparable to the previous year's figure of CNY 78,957,935.50[18]. - The company reported a non-recurring gain of RMB 52,230,492.23, which includes government subsidies of RMB 45,270,859.03 and a debt restructuring gain of RMB 2,485,828.73[22]. Assets and Liabilities - The total assets increased by 5.18% to CNY 7,555,287,689.39 from CNY 7,183,282,921.50 at the end of the previous year[19]. - The net assets attributable to shareholders at the end of the reporting period were CNY 3,488,703,680.90, a slight decrease of 0.20% from CNY 3,495,829,828.81 at the end of the previous year[19]. - The company's total liabilities increased to CNY 3,105,717,654.54 from CNY 2,727,214,912.89, which is an increase of approximately 13.9%[113]. - The company's short-term borrowings rose to CNY 572,209,803.13 from CNY 526,984,413.35, reflecting an increase of about 8.6%[112]. - The total equity decreased slightly to CNY 4,449,570,034.85 from CNY 4,456,068,008.61, a decline of approximately 0.1%[113]. Market Conditions - The company faced challenges due to geopolitical events, rising raw material prices, and insufficient downstream demand caused by the pandemic[20]. - The production base in Shanghai experienced shutdowns due to pandemic control measures, contributing to the decline in performance[20]. - The float glass market is under pressure due to high costs and declining prices, leading to a gradual shift towards losses in the industry since May 2022[26]. - The average industry production and sales rate for float glass was approximately 92%, indicating an oversupply rate of 8%[27]. - The automotive industry faced significant challenges, with production and sales both exceeding 10 million units but still showing a year-on-year decline of 16.8% and 16.9% respectively[30]. Investments and Expansion - The company invested CNY 2.77 billion to establish Jiangsu Yaopi Engineering Glass Co., Ltd. for a new production line, which has not yet started[50]. - The company completed the first phase of the construction of the second phase project for Changshu Yaopi Automotive Glass Co., Ltd., with a total investment of CNY 578 million[53]. - The company is preparing to establish a new skylight injection molding edge production line in Jiangmen with an investment of RMB 60 million, currently in the preparatory phase[55]. - The company is also investing RMB 6.12 million to upgrade the flue gas treatment system at Tianjin Yaopi, with the technical transformation ongoing[56]. - The company approved an investment of RMB 122.4 million for the construction of a second phase pressing production line at Wuhan Yaopi, with the project currently in progress[54]. Research and Development - The company has established a research institute dedicated to developing high-tech, high-value-added glass products, focusing on green building materials[38]. - The company has actively recruited over 130 fresh graduates and organized training for 1,660 employees to enhance skills and belonging[41]. - The company plans to strengthen its research and development efforts to improve raw material utilization and reduce costs[63]. - Research and development expenses were CNY 99,828,945.21, slightly up from CNY 98,579,751.03 year-on-year[119]. - Research and development expenses increased significantly to CNY 1,355,457.08, up from CNY 303,402.81, marking a growth of 347.5% year-over-year[123]. Environmental Compliance - The company is committed to environmental protection and compliance with relevant regulations, ensuring sustainable operations[70]. - The company has implemented lean production to improve labor productivity while reducing energy consumption and pollution, achieving resource conservation and environmental improvement[71]. - The company has installed flue gas desulfurization and denitrification systems across its float glass production lines, with stable and compliant emission data during the reporting period[75]. - The company has obtained environmental impact assessments and pollution discharge permits for all construction projects, ensuring compliance with national regulations[76]. - The company has established an ISO14001 environmental management system and conducts regular monitoring of water, air, noise, and waste through a qualified third-party company[85]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 53,926[101]. - The largest shareholder, Shanghai Building Materials (Group) Co., Ltd., holds 288,267,985 shares, accounting for 30.83% of the total shares[103]. - The second largest shareholder, China Composite Materials Group Co., Ltd., holds 119,090,496 shares, representing 12.74% of the total shares[103]. - The total amount of related party transactions with joint ventures is 3,295.33 million RMB, with a net decrease of 468.88 million RMB during the reporting period[97]. - The company has not disclosed any significant new strategies or major contracts during the reporting period[98]. Financial Management - The company emphasizes the importance of credit risk management due to the complex market environment and competitive pressures[63]. - The company will adjust its strategies based on market changes and product demand to ensure sustainable growth[61]. - The company has maintained a good ability to continue operations, with no significant doubts about its ongoing viability[154]. - The company reported a profit distribution of CNY -54,225,132.00, reflecting a decrease in profit allocation to shareholders[137]. - The company recorded a comprehensive income total of 25,595,914.51 RMB, contributing positively to the overall equity[134].