证券代码：002068 证券简称：黑猫股份 公告编号：2024-031 江西黑猫炭黑股份有限公司 关于部分限制性股票回购注销完成的公告 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。 特别提示： 1、江西黑猫炭黑股份有限公司（以下简称"公司"）本次合计回购注销 185 名 激励对象持有的限制性股票数量合计 6,067,200 股（首次授予限制性股票 5,103,000 股，预留限制性股票 964,200 股），占回购注销前公司总股本 741,412,396 股的 0.8183%，回购资金总金额 15,054,691.56 元。 2、本次回购的限制性股票已于近日在中国证券登记结算有限责任公司深圳 分公司完成回购注销手续。 3、本次回购注销完成后，公司总股本由 741,412,396 股减少为 735,345,196 股，公司注册资本将由 741,412,396 元变更为 735,345,196 元。 公司于 2024 年 3 月 28 日召开了第七届董事会第十九次会议和第七届监事 会第十次会议，审议通过《关于公司回购注销部分激励对象已获授但尚未解除限 售的限制性 ...

Financial Performance - The company expects a net loss attributable to shareholders of between 42 million and 60 million yuan, compared to a loss of 235.88 million yuan in the same period last year [3]. - The net loss after deducting non-recurring gains and losses is projected to be between 54 million and 72 million yuan, compared to a loss of 239.64 million yuan in the previous year [3]. - Basic earnings per share are expected to be a loss between 0.0566 yuan and 0.0809 yuan, compared to a loss of 0.3213 yuan per share in the same period last year [3]. Product Performance - The company experienced significant fluctuations in the price of coal tar, affecting the price of carbon black products, but managed to narrow the loss margin year-on-year [5]. - The production and sales volume of the main product, carbon black, increased year-on-year, contributing to the reduced loss [5]. Financial Reporting - The performance forecast is based on preliminary calculations by the company's finance department and has not been audited by an accounting firm [6]. - The specific financial data will be detailed in the company's 2024 semi-annual report, and investors are advised to pay attention to investment risks [6].

上海市锦天城律师事务所 关于江西黑猫炭黑股份有限公司 2024 年第一次临时股东大会的 关于江西黑猫炭黑股份有限公司 2024 年第一次临时股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 法律意见书 致：江西黑猫炭黑股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受江西黑猫炭黑股份有限公 司（以下简称"公司"）委托，就公司召开 2024 年第一次临时股东大会（以下简 称"本次股东大会"）的有关事宜，根据《中华人民共和国公司法》（以下简称《公 司法》）、《上市公司股东大会规则》等法律、法规、规章、规范性文件以及《江 西黑猫炭黑股份有限公司章程》（以下简称《公司章程》）的有关规定，出具本 法律意见书。 为出具本法律意见书，本所律师对本次股东大会所涉及的相关事项进行了必 要的核查和验证，审查了本所律师认为出具该法律意见书所需审查的相关文件、 资料，并参加了公司本次股东大会现场会议的全过程。 鉴此，本所律师根据上述法 ...

证券代码：002068 证券简称：黑猫股份 公告编号：2024-029 江西黑猫炭黑股份有限公司 2024年第一次临时股东大会决议公告 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、误导性陈述或者重大遗漏。 特别提示 1、本次股东大会没有出现否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间： （1）现场会议时间：2024年05月20日（星期一）下午2:00； （2）网络投票时间：通过深圳证券交易所交易系统进行投票的时间为2024 年05月20日9:15—9:25,9:30—11:30和13:00—15:00；通过深圳证券交易所互联网 投票系统投票的时间为2024年05月20日9:15-15:00期间的任意时间。 2、现场会议召开的地点：江西省景德镇市历尧黑猫股份二楼会议室 3、会议的召开方式：本次会议采取现场投票和网络投票相结合的方式。 4、会议召集人：公司董事会 5、会议主持人：公司董事长魏明先生 6、会议召开的合法、合规性：本次股东大会会议的召开符合有关法律、行 政法规、部门规章、规范性文件和公 ...

证券代码：002068 证券简称：黑猫股份 公告编号：2024-028 江西黑猫炭黑股份有限公司 关于参加江西辖区上市公司2024年投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，江西黑猫炭黑股份有限公司（以下简称 “公司”）将参加由江西省上市公司协会与深圳市全景网络有限公司联合举办的 “2024年江西辖区上市公司投资者集体接待日活动”，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录“全景路演”网站 （http://rs.p5w.net/），或关注微信公众号：全景财经，或下载全景路演APP，参 与本次互动交流，活动时间为2024年05月17日（周五）15:00—17:00。届时公司 董事会秘书张志景先生、财务总监汪晓芳女士将在线就公司2023年度业绩、公司 治理、发展战略、经营状况、融资计划、股权激励和可持续发展等投资者关心的 问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ ...

公 司 研 究 Q1 业绩同比扭亏为盈，同时开展项目跟投股权投资 ——公司信息更新报告 | --- | --- | |-------------------------|------------| | 日期 | 2024/4/30 | | 当前股价 ( 元 ) | 9.36 | | 一年最高最低 ( 元 ) | 14.29/5.88 | | 总市值 ( 亿元 ) | 69.40 | | 流通市值 ( 亿元 ) | 68.77 | | 总股本 ( 亿股 ) | 7.41 | | 流通股本 ( 亿股 ) | 7.35 | | 近 3 个月换手率 (%) | 116.93 | -48% -24% 0% 24% 48% 2023-05 2023-09 2024-01 黑猫股份 沪深300 相关研究报告 《Q2 原料下跌拖累主业，公司丰富导 电炭黑产品序列—公司信息更新报 告》-2023.8.28 2024 年 Q1 煤焦油波动同比减小，公司业绩同比扭亏，维持"买入"评级 Q1 为传统淡季，炭黑价差环比缩窄，公司 Q1 业绩环比下跌、同比扭亏 根据央广网报道，2024 年 4 月 25 日，宁德时代发布全球首款兼顾 1 ...

Financial Performance - The company's revenue for Q1 2024 was CNY 2,384,891,152.51, representing an increase of 8.10% compared to CNY 2,206,223,604.40 in the same period last year[4] - Net profit attributable to shareholders was CNY 3,753,861.20, a significant turnaround from a net loss of CNY 103,955,433.57 in Q1 2023, marking an increase of 103.61%[4] - The total profit for the quarter was CNY 8,095,667.50, a significant improvement from a loss of CNY 104,686,546.46 in the same period last year, reflecting a 107.73% increase[8] - Net profit for Q1 2024 was CNY 2,749,984.87, a significant recovery from a net loss of CNY 110,174,210.88 in Q1 2023[21] - The company reported a gross profit margin of approximately 0.67% for Q1 2024, compared to a negative margin in the previous year[19] Cash Flow - The net cash flow from operating activities improved to CNY 75,976,735.77, compared to a negative cash flow of CNY 462,326,126.93 in the previous year, reflecting a 116.43% increase[4] - The total cash inflow from operating activities for Q1 2024 was CNY 1,843,431,478.28, an increase of 15.8% compared to CNY 1,591,273,747.33 in Q1 2023[22] - The net increase in cash and cash equivalents for the quarter was CNY 299,151,862.61, compared to a decrease of CNY 225,031,791.17 in Q1 2023[23] - The ending balance of cash and cash equivalents was CNY 608,189,564.30, up from CNY 240,993,243.40 at the end of Q1 2023[23] - The company received CNY 56,659,306.92 in cash related to operating activities, a decrease from CNY 179,434,253.80 in the previous year[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,565,625,283.91, up 7.87% from CNY 7,940,740,028.55 at the end of the previous year[4] - Total liabilities increased to CNY 5,391,935,965.56 from CNY 4,770,518,344.46, representing a rise of 13.03%[17] - The total current assets at the end of the reporting period amounted to ¥4,687,671,621.16, up from ¥4,088,272,798.73, indicating an increase of about 14.7%[15] Shareholder Information - The total number of common shareholders at the end of the reporting period is 38,938[10] - The largest shareholder, Jingdezhen Black Cat Group Co., Ltd., holds 34.36% of the shares, totaling 254,743,820 shares[10] - The company has not disclosed any related party relationships among the top 10 shareholders[11] - There were no changes in the participation of the top 10 shareholders in margin trading and securities lending activities[11] Research and Development - Research and development expenses surged to CNY 11,625,887.58, a dramatic increase of 1211.58% compared to CNY 886,402.43 in Q1 2023, indicating a strong focus on innovation[8] - Research and development expenses increased to CNY 11,625,887.58, compared to CNY 886,402.43 in the same quarter last year, indicating a focus on innovation[19] - The company plans to establish a core employee investment platform with an investment of ¥5,000,000 to support innovation projects[12] Stock and Share Repurchase - The company repurchased and canceled 6,067,200 restricted stocks, reducing total shares from 741,412,396 to 735,345,196[12] Operational Efficiency - The company's cash flow from operating activities showed a positive trend, indicating improved operational efficiency and financial health[22] - Cash outflow from investing activities totaled CNY 184,299,357.12, up from CNY 102,456,335.91 in Q1 2023, resulting in a net cash outflow of CNY 184,274,697.65[23] - Cash inflow from financing activities was CNY 894,308,000.00, down from CNY 1,382,000,000.00 in Q1 2023, while net cash flow from financing activities increased to CNY 401,702,456.76 from CNY 342,652,302.06[23] Inventory and Receivables - Accounts receivable rose to ¥1,916,177,501.12 from ¥1,825,154,731.70, an increase of about 5%[15] - Inventory increased to ¥1,131,236,741.92 from ¥904,391,987.17, reflecting a growth of approximately 25.1%[15] - The company experienced a 72.49% increase in prepayments, reaching CNY 168,315,424.68, primarily due to rising raw material prices[8]

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 9.37 yuan based on a 22x PE for 2024 [6][18]. Core Viewpoints - The company has transformed from a single product focus on carbon black to a platform for carbon-based new materials, including conductive carbon black and carbon nanotubes, to escape low-end competition [2][5]. - The carbon black industry in China is characterized by low concentration and intense competition, with the company positioned as a leader due to its extensive production capacity and strategic location of its production bases [4][45]. - The company is actively pursuing high-end and differentiated product development to enhance its competitive edge in the carbon black market [15][57]. Summary by Sections Company Overview - Founded in 2001, the company has become the largest carbon black producer in China and ranks among the top four globally, with a production capacity of 1.14 million tons per year [3][23]. - The company is transitioning towards high-end conductive carbon black and carbon-based materials, with ongoing projects to expand its production capacity [5][15]. Industry Analysis - The carbon black industry in China has a concentration ratio of about 40%, significantly lower than that of the US and Japan, indicating room for consolidation [4][61]. - The industry faces challenges from overcapacity and intense competition, necessitating a shift towards high-end products to maintain profitability [39][64]. Financial Projections - Revenue projections for 2024-2026 are 10 billion, 10.3 billion, and 11.4 billion yuan, with corresponding growth rates of 6%, 3%, and 11% [6][13]. - The net profit for the same period is expected to be 320 million, 440 million, and 570 million yuan, with growth rates of 230%, 38%, and 30% respectively [6][13]. Product Development - The company is focusing on developing lithium battery-grade conductive carbon black, with a current capacity of 10,000 tons and plans for further expansion [5][18]. - Projects for 50,000 tons of superconductive carbon black and 8,000 tons of coal-based needle coke are underway, aimed at establishing a comprehensive carbon-based materials platform [5][15].

编号：2024-001 | | ☐特定对象调研 ☐分析师会议 | | --- | --- | | | ☐媒体采访 业绩说明会 | | 投资者关系活动类别 | ☐新闻发布会 ☐路演活动 | | | ☐现场参观 | | | ☐其他（请文字说明其他活动内容） | | 参与单位名称及人员姓名 | 线上参与黑猫股份2023年度网上业绩说明会全体投资者 | | 时间 | 2024年04月22日 15:00-17:00 | | 地点 | 价值在线（https://www.ir-online.cn/）网络互动 | | 上市公司接待人员姓名 | 总经理李毅先生、董事兼财务总监段明焰先生、独立董事方彬福先 | | | 生、董事会秘书张志景先生。 | | | 1.导电炭黑项目投资大幅增加的原因是什么？投资增加后对项 | | | 目的收益率、投资回收期等指标是否造成影响？ | | | 答：您好，公司为满足下游客户产品品质需求，提升工厂智能 | | | 化程度，优化升级生产装置从而增加项目投资。公司在导电炭黑领 | | | 域会通过持续的研发投入，不断开发新产品，以提升产品的综合盈 | | | 利水平。谢谢！ | | | 2.想了解 ...

证券代码：002068 证券简称：黑猫股份 公告编号：2024-019 江西黑猫炭黑股份有限公司 关于举办2023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、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 江西黑猫炭黑股份有限公司（以下简称"公司"）已于 2024 年 03 月 29 日在巨潮资讯 网披露了《2023 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，公司定于 2024 年 04 月 22 日（星期一）15:00-17:00 在"价值在线" （http://www.ir-online.cn）举办 2023 年度网上业绩说明会，与投资者进行沟通和交流，广泛 听取投资者的意见和建议。公司现向投资者提前征集 2023 年度业绩说明会相关问题，提问 通道自发出公告之日起开放。 本次网上业绩说明会将采用网络远程的方式举行，出席说明会的人员为公司总经理李毅 先生、董事兼财务总监段明焰先生、独立董事方彬福先生、董事会秘书张志景先生。 投资者可通过以下两种方式，依据相关提示进行提问。 参与方式一：登录网址 https://eseb.cn/1dnkm ...