证券代码：001301 证券简称：尚太科技 公告编号：2025-051 石家庄尚太科技股份有限公司 关于持股 5%以上股东减持股份的预披露公告 持股 5%以上股东长江晨道（湖北）新能源产业投资合伙企业（有限合伙）， 保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述 或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 特别提示： 石家庄尚太科技股份有限公司（以下简称"公司"或"本公司"）持股 5% 以上股东长江晨道（湖北）新能源产业投资合伙企业（以下简称"长江晨道"）， 持有公司股份 24,660,500 股，占公司目前总股本的 9.4525%，计划自本公告披露 之日起 15 个交易日之后的 3 个月内（根据中国证券监督管理委员会或深圳证券 交易所相关规定禁止减持的期间除外）以大宗交易方式减持本公司股份合计不超 过 5,196,625 股（占公司目前总股本剔除回购专用账户股份数量不超过 2.0000%）。 若计划减持期间有派息、送股、资本公积金转增股本、配股等除权除息事项，减 持价格区间和股份数将相应进行调整。 本次减持计划符合《中华人民共和国证券法》《上市公 ...

1、召开时间：2025年3月28日（星期五）下午 15:30-16:30。 2、召开方式：本次业绩说明会将采用网络远程的方式举行。 证券代码：001301 证券简称：尚太科技 公告编号：2025-050 石家庄尚太科技股份有限公司 关于举办 2024 年年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 石家庄尚太科技股份有限公司（以下简称"公司"）于2025年3月15日在巨 潮资讯网上披露《2024年年度报告》。为便于广大投资者更加全面深入地了解公 司经营业绩、发展战略等情况，公司将于2025年3月28日（星期五）15:30-16:30 通过深圳证券交易所"互动易"平台"云访谈"栏目举办2024年年度业绩网上说 明会。 一、业绩说明会相关安排 3、参与方式：本次业绩说明会将采用图文的方式举行，投资者可登录深圳 证券交易所"互动易"平台（http://irm.cninfo.com.cn），进入公司"云访谈"栏 目参与本次网上业绩说明会，也可扫描下方二维码参与交流。 （公司2024年年度网上业绩说明会二维码） 4、公司出席人员：公司董事长/ ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company reported a significant increase in revenue and profit for 2024, with total revenue reaching 5.23 billion yuan, a year-on-year growth of 19.1%, and a net profit attributable to shareholders of 840 million yuan, up 15.97% year-on-year [2][4]. - In Q4 2024, the company achieved a revenue of 1.61 billion yuan, representing a year-on-year growth of 31.92%, and a net profit of 260 million yuan, which is a remarkable year-on-year increase of 68.24% [2][4]. - The company’s negative electrode product shipments reached 216,500 tons for the year, a year-on-year increase of 53.7%, significantly outpacing the industry average, driven by increased market share from major clients and the release of fast-charging and energy storage products [8]. Summary by Sections Financial Performance - For the full year 2024, the company achieved total revenue of 5.23 billion yuan, with a gross profit margin of 26% [11]. - The company’s operating profit for 2024 was 1.03 billion yuan, representing 20% of total revenue [11]. - The projected net profit for 2025 is estimated at 1 billion yuan, indicating continued growth [8]. Product and Market Dynamics - The company’s fast-charging products are expected to see an increase in market share, contributing positively to revenue and profit margins [8]. - The average selling price of negative electrodes was 21,700 yuan per ton, which saw a decline due to price competition amid excess capacity [8]. Future Outlook - The company plans to expand its production capacity, with new facilities expected to come online in Q3 2025, which will support steady growth in shipments [8]. - The company is also actively developing new products, including silicon-carbon negative electrodes, which are anticipated to enhance profitability further [8].

Investment Rating - The investment rating for the company is "Buy" [2][6] Core Views - The company achieved a revenue of 5.229 billion yuan in 2024, representing a year-on-year growth of 19.10%, and a net profit attributable to shareholders of 838 million yuan, up 15.97% year-on-year [5] - The company sold 216,500 tons of anode materials in 2024, a year-on-year increase of 53.65%, driven by differentiated product strategies and improved operational efficiency [5] - The projected net profits for 2025, 2026, and 2027 are 1.057 billion yuan, 1.456 billion yuan, and 1.874 billion yuan respectively, with corresponding P/E ratios of 15.58, 11.31, and 8.79 [6][7] Financial Performance Summary - The company's main revenue is forecasted to grow from 4.391 billion yuan in 2023 to 12.068 billion yuan in 2027 [7] - The gross profit margin for 2024 is 25.72%, while the net profit margin is 16.03% [5] - The company plans to expand its production capacity significantly, with an expected effective capacity of over 500,000 tons of artificial graphite anode materials by 2027 [5]

Investment Rating - The report maintains a rating of "Accumulate" for the company [5] Core Views - The company continues to lead in profitability while advancing capacity growth, with a projected revenue increase from 43.91 billion CNY in 2023 to 109.13 billion CNY by 2027, reflecting a compound annual growth rate (CAGR) of 15.5% [1][9] - The company achieved a revenue of 5.229 billion CNY in 2024, a year-on-year increase of 19.1%, and a net profit of 838 million CNY, up 16.0% year-on-year, indicating performance slightly above expectations [1][2] - The company has demonstrated resilience in profitability, with a significant increase in lithium battery anode material sales by 53.65% year-on-year, reaching 216,500 tons [2] - The company is actively expanding its production capacity, with new projects in Hebei and Shanxi expected to significantly enhance output by 2027 [3] Financial Summary - Revenue projections for 2025-2027 are 74.34 billion CNY, 94.48 billion CNY, and 109.13 billion CNY, respectively, with corresponding net profits of 10.45 billion CNY, 13.51 billion CNY, and 16.11 billion CNY [9] - The company’s earnings per share (EPS) are expected to grow from 4.01 CNY in 2025 to 6.18 CNY in 2027, with a decreasing price-to-earnings (P/E) ratio from 14.0x to 9.1x over the same period [1][9] - The company maintains a strong return on equity (ROE) forecast, increasing from 14.7% in 2025 to 16.7% in 2027 [1][9]

Investment Rating - The report maintains an "Accumulate" investment rating for the company, indicating a projected relative increase of 5% to 15% compared to the CSI 300 index over the next six months [27]. Core Viewpoints - The company has shown a significant recovery in performance, with a revenue of 5.229 billion yuan in 2024, representing a year-on-year growth of 19.10%. The net profit attributable to shareholders reached 838 million yuan, up 15.97% year-on-year [8][10]. - The growth in revenue is primarily driven by a substantial increase in the sales volume of anode materials, which rose to 216,500 tons in 2024, a year-on-year increase of 53.65% [9][10]. - The company aims to become a global leader in lithium battery anode materials, benefiting from the continuous growth in the sales of new energy vehicles and the production of power batteries in China [8][9]. Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 5.229 billion yuan, with an operating profit of 1.031 billion yuan and a net profit of 838 million yuan. The basic earnings per share were 3.22 yuan, with a diluted return on equity of 13.38% [8][10]. - The company plans to distribute a cash dividend of 8.0 yuan per 10 shares [8]. Market Trends - The sales of new energy vehicles in China reached 12.859 million units in 2024, a year-on-year increase of 36.10%, indicating a strong market demand for power batteries [8][9]. - The production of power batteries and other batteries in China reached 1,096.8 GWh in 2024, a growth of 40.96% year-on-year, with exports contributing significantly to this growth [8][9]. Industry Outlook - The anode materials industry is expected to continue growing, driven by demand from both power and energy storage sectors. The shipment of anode materials in China reached 2.08 million tons in 2024, up 26.06% year-on-year [9][10]. - The company is focusing on enhancing its production capacity and has plans for international expansion, including a project in Malaysia with an annual capacity of 50,000 tons of lithium-ion battery anode materials [10][12]. Competitive Position - The company has established strong customer relationships, with major clients including CATL and Guoxuan High-Tech, which account for 87.52% of its revenue in 2024 [9][10]. - The company is investing in R&D to develop differentiated products, with R&D expenses reaching 175 million yuan in 2024, representing 3.35% of its revenue [9][10].

Investment Rating - The report maintains an "Accumulate" investment rating for the company, indicating a projected relative increase of 5% to 15% compared to the CSI 300 index over the next six months [27]. Core Insights - The company has shown a significant recovery in performance, with a revenue of 5.229 billion yuan in 2024, representing a year-on-year growth of 19.10%. The net profit attributable to shareholders reached 838 million yuan, up 15.97% year-on-year [8][10]. - The growth in the company's performance is primarily driven by a substantial increase in the sales volume of anode materials, which rose to 216,500 tons in 2024, a remarkable growth of 53.65% compared to the previous year [9][10]. - The report highlights the ongoing growth in China's new energy vehicle sales and power battery production, with a 36.10% year-on-year increase in new energy vehicle sales in 2024 [8][9]. Financial Performance - The company reported a gross margin of 25.72% in 2024, a decrease of 2.02 percentage points year-on-year, attributed to intensified industry competition [10]. - The projected earnings per share (EPS) for 2025 and 2026 are estimated at 4.00 yuan and 4.93 yuan, respectively, with corresponding price-to-earnings (PE) ratios of 14.53 and 11.79 based on the closing price of 58.16 yuan on March 17 [14][10]. Market Trends - The report notes that the demand for anode materials is expected to continue growing, driven by the increasing production of power and energy storage batteries, with a projected output of 1,096.8 GWh in 2024, a 40.96% increase year-on-year [9][10]. - The anode materials industry is anticipated to maintain a high growth rate, particularly in the context of new generation fast-charging and ultra-fast charging applications [9][10]. Strategic Developments - The company is actively pursuing international expansion, with plans to establish a wholly-owned subsidiary in Malaysia for the production of lithium-ion battery anode materials, with an investment of approximately 1.54 billion USD [12][10]. - The company is also increasing its research and development investments, with R&D expenses reaching 175 million yuan in 2024, a 40.50% increase year-on-year, focusing on differentiated product strategies [10][9].

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company reported a revenue of 5.229 billion yuan in 2024, representing a year-on-year increase of 19.1%, with a net profit of 840 million yuan, up 16% year-on-year [5] - The company continues to maintain high profitability levels despite a decline in average selling prices due to industry oversupply [5] - The company is actively expanding its production capacity and exploring international development strategies, including establishing production bases in Southeast Asia and Europe [5] Financial Performance Summary - Revenue Forecast: - 2023A: 4.391 billion yuan - 2024A: 5.229 billion yuan - 2025E: 7.226 billion yuan - 2026E: 9.205 billion yuan - 2027E: 11.380 billion yuan - Revenue Growth Rate: - 2023A: -8.18% - 2024A: 19.10% - 2025E: 38.18% - 2026E: 27.39% - 2027E: 23.62% [4][5] - Net Profit Forecast: - 2023A: 723 million yuan - 2024A: 838 million yuan - 2025E: 1.050 billion yuan - 2026E: 1.401 billion yuan - 2027E: 1.755 billion yuan - Net Profit Growth Rate: - 2023A: -43.94% - 2024A: 15.97% - 2025E: 25.27% - 2026E: 33.41% - 2027E: 25.26% [4][5] Market Position and Strategy - The company has achieved a sales volume of 216,500 tons in 2024, a year-on-year increase of 54%, with a high capacity utilization rate driven by a differentiated product strategy [5] - The company is focusing on R&D investments, with R&D expenses increasing to 3.4% of revenue, aiming to develop high-performance artificial graphite anode materials [5] - The company is also adjusting its production plans in response to market conditions, including a new project in Shanxi Province with an annual capacity of 200,000 tons of lithium-ion battery anode materials [5]

Investment Rating - The investment rating for the company is "Buy" [5][3]. Core Views - The company reported a revenue of 5.229 billion yuan for 2024, representing a year-on-year increase of 19.10%. The net profit attributable to shareholders was 838 million yuan, up 15.97% year-on-year [1][5]. - The sales of negative electrode materials reached 4.707 billion yuan in 2024, with a shipment volume of 216,500 tons, marking a year-on-year increase of 25.97% and 53.65% respectively. The company has developed fast-charging negative electrode products, which have significantly boosted production and sales [2][3]. - The company expects to maintain stable profitability per ton of negative materials, with an estimated profit of around 3,000 yuan per ton for the year [2]. Summary by Sections Financial Performance - In Q4 2024, the company achieved a revenue of 1.609 billion yuan, with a quarter-on-quarter increase of 31.92% and a year-on-year increase of 5.42%. The net profit for the same quarter was 261 million yuan, reflecting a quarter-on-quarter increase of 68.24% and a year-on-year increase of 17.80% [1][2]. - The gross profit margin for 2024 was 25.72%, down 2.02 percentage points year-on-year, while the net profit margin was 16.03%, down 0.43 percentage points year-on-year [1][5]. Future Projections - The company is projected to achieve net profits of 1.047 billion yuan, 1.424 billion yuan, and 1.777 billion yuan for the years 2025, 2026, and 2027 respectively, with year-on-year growth rates of 24.9%, 36.1%, and 24.7% [3][4]. - The estimated earnings per share (EPS) for the same years are 4.01 yuan, 5.46 yuan, and 6.81 yuan [3][4]. Market Position - The company is expanding its production capacity, with a new 100,000-ton facility in Shijiazhuang that has recently commenced operations. The company anticipates a shipment of approximately 70,000 tons of negative electrode products in Q1 2025 [2][3]. - The company is also planning to build a new production line in Shanxi, expected to start construction in Q3 2025, and is steadily advancing its overseas production capacity [2].

Investment Rating - The report maintains a "Buy" rating for the company [6][4]. Core Views - The company reported a net profit of 261 million RMB in Q4 2024, representing a year-on-year increase of 68.24% and a quarter-on-quarter increase of 17.80%. The total revenue for the year reached 5.229 billion RMB, up 19.10% year-on-year, with a net profit of 838 million RMB, reflecting a 15.97% increase [1][2]. - The company is expected to benefit from the growing penetration of fast charging and the expansion of energy storage, with a clear direction for product upgrades [1][4]. - The company has improved its market share to 11.5% in Q4 2024, driven by the bulk shipment of fast charging and new energy storage products [2][3]. Summary by Sections Financial Performance - In Q4 2024, the company achieved a revenue of 2.61 billion RMB, with a net profit of 261 million RMB, and a non-recurring profit of 237 million RMB. The annual revenue was 5.229 billion RMB, with a net profit of 838 million RMB [1][2]. - The average selling price per ton for the year was 26,100 RMB, with a net profit per ton of 3,800 RMB in Q4 [2]. Market Position and Strategy - The company is expanding its production capacity both domestically and internationally, with projects in Shanxi and Malaysia aimed at meeting local demand and mitigating policy risks [3]. - The company has a significant reliance on major clients, with 73.4% of its sales in 2024 coming from CATL, indicating a stable revenue stream as these clients expand overseas [3]. Future Projections - The report projects the company's net profit to reach 1.013 billion RMB in 2025, with further growth expected in subsequent years, despite a slight downward adjustment in profit estimates due to rising raw material costs [4][5]. - The target price for the company's stock is set at 69.84 RMB, reflecting a price-to-earnings ratio of 18 times for 2025 [4][6].