Financial Performance - The company's operating revenue for 2024 was CNY 10,131,697,631.62, representing a 7.20% increase compared to CNY 9,451,120,155.17 in 2023[17]. - The net profit attributable to shareholders for 2024 was CNY 25,134,712.16, a significant turnaround from a loss of CNY 242,942,816.36 in 2023, marking a 110.35% improvement[17]. - The basic earnings per share for 2024 was CNY 0.0342, compared to a loss of CNY 0.3308 per share in 2023, reflecting a 110.34% increase[17]. - The total operating revenue for the four quarters was approximately CNY 10.13 billion, with the highest revenue in Q4 at CNY 2.83 billion[22]. - The net profit attributable to shareholders for Q4 was CNY 80.13 million, marking a recovery from losses in Q1, Q2, and Q3[22]. - The company reported a significant decrease in net profit after deducting non-recurring gains and losses, amounting to negative CNY 29,289,103.23 for 2024[17]. - The company received government subsidies amounting to CNY 16.82 million in 2024, contributing to its financial performance[23]. - The total non-recurring gains and losses for 2024 amounted to CNY 54.42 million, a significant increase from CNY 21.27 million in 2023[23]. Assets and Liabilities - Total assets at the end of 2024 were CNY 8,308,265,711.86, up 4.63% from CNY 7,940,740,028.55 at the end of 2023[17]. - The net assets attributable to shareholders decreased by 1.46% to CNY 2,975,537,541.60 at the end of 2024 from CNY 3,019,524,292.34 at the end of 2023[17]. - Short-term borrowings increased to ¥1,158,775,630.45 in 2024, representing 13.95% of total assets, up from 11.88% in 2023[80]. Production and Capacity - In 2024, the company's carbon black production capacity utilization rate reached 89.61%, significantly higher than the industry average of 56.1%[27]. - The main product, carbon black, has a designed capacity of 1.162 million tons with a capacity utilization rate of 89.61%[47]. - The company produced 1,041,300 tons of carbon black and sold 1,043,600 tons in 2024, achieving a sales rate of 100.22%[56]. - The company has established eight production bases across China, enhancing its production capacity to 1,162,000 tons annually, maintaining its leading position in the domestic carbon black industry[56]. Research and Development - The company has applied for 78 invention patents and holds 368 utility model patents, showcasing its strong R&D capabilities[47]. - The company reported a significant increase in research and development expenses, which rose by 100.27% to ¥46,239,981.75, indicating a focus on innovation[72]. - R&D investment amounted to ¥569,242,436.71 in 2024, up 10.58% from ¥514,784,782.29 in 2023[75]. - The company is developing new products such as superconducting carbon black for power batteries and eco-friendly water-based coating carbon black, which have completed pilot tests and begun industrial production[51]. Environmental Compliance - The company adheres to environmental regulations, including the Environmental Protection Law and the Air Pollution Prevention Law[163]. - The company has implemented environmental impact assessments for all construction projects[163]. - The company has installed online monitoring facilities and established a dynamic monitoring system for environmental compliance[181]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[183]. Governance and Shareholder Relations - The company has a governance structure that complies with legal requirements, ensuring transparency and protection of shareholder rights[111]. - The company has established a complete independent legal entity with full control over its assets, ensuring no damage to its interests from shareholder actions[119]. - The company has implemented a stock incentive plan, with a reduction of 120,000 shares for a director due to the repurchase and cancellation of restricted stock[124]. - The company plans to implement a three-year shareholder return plan for 2024-2026[144]. Market Position and Strategy - The company aims to become an international leader in specialty chemicals and high-performance materials, focusing on technological innovation and industry chain extension[58]. - The company is positioned to capitalize on the consolidation of the tire industry, as only large-scale carbon black producers can meet the stable supply demands of leading tire manufacturers[50]. - The company is actively expanding into new materials, with projects like the 5,000 tons/year carbon nanotube powder and a 20,000 tons/year superconducting carbon black project completed[56]. Social Responsibility - The company actively participates in social responsibility initiatives, including disaster relief and public welfare projects, while promoting green development[187]. - In 2024, the company invested 145,600 yuan in rural revitalization, benefiting a total of 1,255 people[189]. - The company has engaged in strategic partnerships with universities to enhance talent cultivation and innovation[149].

证券代码：002068 证券简称：黑猫股份 公告编号：2025-010 为满足江西黑猫炭黑股份有限公司（以下简称"黑猫股份"或"公司"）全资子 公司江西黑猫高性能材料有限公司（以下简称"黑猫高性能"）的经营发展需要， 促进黑猫高性能整体的良性运营和可持续发展，黑猫股份拟以自有资金向黑猫高 性能增资 2,000 万元。本次增资完成后，黑猫高性能的注册资本将由 4,500 万元 增加至 6,500 万元，黑猫高性能仍为公司的全资子公司。 根据《深圳证券交易所股票上市规则》等法律、法规、规范性文件及《公司 章程》等有关规定，本次增资事项在董事长审批权限范围内，无需提交董事会、 股东大会审议。本次增资事项不涉及关联交易，亦不构成《上市公司重大资产重 组管理办法》规定的重大资产重组。 二、增资标的的基本情况 1、企业名称：江西黑猫高性能材料有限公司 2、住所：江西省景德镇市昌江区吕蒙乡历尧村古老山地块 3、企业类型：有限责任公司（非自然人投资或控股的法人独资） 江西黑猫炭黑股份有限公司 关于对全资子公司增资的公告 本公司及董事会保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、增资情况概述 ...

事件：公司发布关于控股股东增持公司股份实施结果的公告。公司控股股东黑猫集团以集中竞价交易方 式累计增持公司股份1470.69 万股，增持股份占公司总股本的比例为2.00%，增持金额为1.64 亿元。本 次增持计划已实施完毕，黑猫集团持有公司股份2.69 亿股，占公司总股本的比例由增持前的34.64%变 动至36.64%。股份增持也进一步体现控股股东对于公司未来发展前景的坚定信心及中长期价值的认 可。 大宗原料价格高位回落，看好公司成本改善。炭黑上游原材料包括高温煤焦油、乙烯焦油等，分属于煤 化工和石油化工，以煤炭、原油为首的大宗原料自2024 年以来呈现出高位回落趋势。进入4 月以来，由 于中美之间贸易摩擦有升温迹象，导致全球宏观经济需求预期悲观，大宗原料加速走弱。2025 年二季 度焦煤市场均价环比Q1 下滑12.7%，动力煤较Q1 环比下滑7.8%，布伦特原油较Q1 环比下滑10.2%，大 宗原料高位回落有利于公司炭黑产品成本端改善。 关税背景下炭黑产品有望实现利润修复。根据百川数据显示，截至2024年12 月国内炭黑总产能约为 912.7 万吨，行业平均开工率约为61%。根据中国橡胶工业协会炭黑分会统计 ...

Core Viewpoint - The PVDF concept sector has shown a significant increase of 1.84%, leading the market in terms of growth, with notable stocks such as Heimao Co., Jinming Precision Machinery, and Sanmei Co. experiencing substantial gains [1][2]. Market Performance - The PVDF concept sector ranked first in today's market performance, with 12 stocks rising, including Heimao Co. (+6.83%), Jinming Precision Machinery (+5.82%), and Sanmei Co. (+3.09%) [1][2]. - Other notable sectors included Noise Control (+1.57%) and Camping Economy (+1.54%), while sectors like Combustible Ice and Controlled Nuclear Fusion saw declines of -1.62% and -1.15%, respectively [2]. Capital Flow - The PVDF concept sector attracted a net inflow of 144 million yuan, with eight stocks receiving significant capital inflows. Heimao Co. led with a net inflow of approximately 52.89 million yuan [2][3]. - Other companies with notable net inflows included Juhua Co. (48.30 million yuan), Jinming Precision Machinery (22.38 million yuan), and Putailai (11.17 million yuan) [2][3]. Capital Inflow Ratios - Heimao Co., Jinming Precision Machinery, and Juhua Co. had the highest net inflow ratios at 11.43%, 10.01%, and 7.81%, respectively [3]. - The detailed capital inflow data for the top stocks in the PVDF concept sector indicates varying performance, with Heimao Co. showing a daily increase of 6.83% and a turnover rate of 5.21% [3].

证券代码：002068 证券简称：黑猫股份 公告编号：2025-009 江西黑猫炭黑股份有限公司 关于控股股东增持公司股份实施结果的公告 公司控股股东景德镇黑猫集团有限责任公司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： 1、江西黑猫炭黑股份有限公司（以下简称"公司"或"黑猫股份"）于 2024 年 12 月 05 日披露了《关于控股股东增持公司股份计划的公告》（公告编号： 2024-042），公司控股股东景德镇黑猫集团有限责任公司（以下简称"黑猫集团"） 基于对公司未来发展前景的坚定信心及中长期价值的认可，拟通过深圳证券交易 所交易系统以集中竞价交易方式增持公司股份。增持计划的实施期限为自 2024 年 12 月 05 日起 6 个月，增持股份金额不低于人民币 10,000 万元（含本数）， 不超过人民币 20,000 万元（含本数），且增持数量不超过公司总股本的 2%。 2、截至本公告日，公司控股股东黑猫集团通过深圳证券交易所交易系统以 集中竞价交易方式累计增持公司股份 14,706,90 ...

上海市锦天城律师事务所 关于景德镇黑猫集团有限责任公司 免于以要约方式增持股份事宜的 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 关于景德镇黑猫集团有限责任公司 免于以要约方式增持股份事宜的 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，根据《中华人民共和国公司法》《中华人民共和国 证券法》《上市公司收购管理办法》等法律、行政法规、规范性文件的有关规定， 就景德镇黑猫集团有限责任公司（以下简称"黑猫集团"）通过深圳证券交易所 交易系统以集中竞价交易方式增持不超过 2%的公司股份免于发出要约事宜，出 具本法律意见书。 为出具本法律意见书，本所及本所经办律师声明如下： 1、本所仅依据本法律意见书出具日以前已经发生或存在的事实和中华人民 共和国境内（以下简称"中国"，为出具本法律意见书目的，不包括香港特别行 政区、澳门特别行政区和台湾地区） ...

证券代码：002068 证券简称：黑猫股份 公告编号：2025-008 3、公司于近日收到黑猫集团出具的《关于增持黑猫股份公司股份进展的告 知函》，黑猫集团于 2025 年 03 月 19 日至 2025 年 03 月 24 日期间，通过集中竞 价交易方式累计增持公司股份 8,890,900 股，增持股份占公司总股本的比例为 1.21%，持股比例由 35.00%变动至 36.21%，变动触及 1%的整数倍。本次增持计 划尚未实施完毕，本次增持主体将继续实施增持计划。 证券代码：002068 证券简称：黑猫股份 公告编号：2025-008 江西黑猫炭黑股份有限公司 关于控股股东增持计划进展暨权益变动触及1%整数 倍的提示性公告 公司控股股东景德镇黑猫集团有限责任公司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： 1、江西黑猫炭黑股份有限公司（以下简称"公司"或"黑猫股份"）于 2024 年 12 月 05 日披露了《关于控股股东增持公司股份计划的公告》（公告编号： 2024-042），公司控股股东 ...

证券代码：002068 证券简称：黑猫股份 公告编号：2025-007 江西黑猫炭黑股份有限公司 关于控股股东股份增持计划实施期限过半的 进展公告 公司控股股东景德镇黑猫集团有限责任公司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： 1、江西黑猫炭黑股份有限公司（以下简称"公司"或"黑猫股份"）于 2024 年 12 月 05 日披露了《关于控股股东增持公司股份计划的公告》（公告编号： 2024-042），公司控股股东景德镇黑猫集团有限责任公司（以下简称"黑猫集团"） 基于对公司未来发展前景的坚定信心及中长期价值的认可，拟通过深圳证券交易 所交易系统以集中竞价交易方式增持公司股份。黑猫集团计划通过深圳证券交易 所交易系统以集中竞价交易方式增持公司股份，增持计划的实施期限为自 2024 年 12 月 05 日起 6 个月，增持股份金额不低于人民币 10,000 万元（含本数）， 不超过人民币 20,000 万元（含本数），且增持数量不超过公司总股本的 2%。 2、截至本公告披露日，本次增持计划实施 ...

Summary of Black Cat Holdings Conference Call Company Overview - Black Cat Holdings is the largest carbon black producer in China with an annual production capacity of 1.16 million tons, benefiting from post-Spring Festival resumption, tire manufacturers restocking, and rising raw material prices, leading to an increase in carbon black prices, which is expected to significantly enhance company profits [2][3] Core Business Insights - The company has confirmed a turning point in its main business profitability, projecting a net profit attributable to shareholders of 20 to 30 million yuan for the full year of 2024, with fourth-quarter profits reaching 75 to 85 million yuan. If price increases are confirmed in the first quarter, a further confirmation of the profitability turning point is expected in 2025, initiating a 2-3 year upward cycle [2][6] Technological Advancements - Black Cat Holdings has made significant technological progress by gradually replacing upstream raw materials from coal tar to lower-cost refining residue, resulting in a cost reduction of approximately 1,000 yuan per ton. This change is expected to further enhance unit profitability [4][5] - The company has developed conductive carbon black solutions for 4C batteries and fast-charging battery systems, with some high-end products priced at 80,000 to 90,000 yuan per ton, contributing to substantial unit profits and gradually achieving large-scale production [4] Market Position and Competitive Advantage - Black Cat Holdings has achieved domestic substitution of conductive carbon black, breaking the monopoly of foreign suppliers like Cabot. The company's products are now adopted by leading clients, providing a competitive edge in the market [8] - The price of Black Cat's conductive carbon black is approximately 30,000 yuan per ton, compared to 40,000 to 50,000 yuan per ton for Cabot's products, offering customers a cost advantage and potential savings [10] Future Market Prospects - The demand for conductive carbon black in lithium batteries is increasing, particularly in fast-charging and solid-state battery applications, which require higher conductivity. This trend is expected to drive growth in the conductive carbon black market [7] - Black Cat Holdings has a production capacity of 30,000 tons for lithium electronic conductive carbon black, with expected shipments of 20,000 to 30,000 tons this year, contributing profits of 400 to 500 million yuan [13] Emerging Applications - The company is exploring the use of conductive carbon black in robotics and other emerging applications, with ongoing tests with multiple downstream clients. This area relies heavily on imported materials, indicating significant market potential for domestic substitutes [14] Shareholder Confidence and Market Management - Recently, the company has engaged in market value management, with the controlling shareholder increasing their stake by purchasing 2.6 million shares and planning to invest 100 to 200 million yuan for further buybacks. This reflects confidence in the company's future development [15]

证券代码：002068 证券简称：黑猫股份 公告编号：2025-006 江西黑猫炭黑股份有限公司 关于控股股东权益变动的提示性公告 公司控股股东景德镇黑猫集团有限责任公司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： 1、本次权益变动系江西黑猫炭黑股份有限公司（以下简称"黑猫股份"或"公 司"）控股股东景德镇黑猫集团有限责任公司（以下简称"黑猫集团"）增持公司 股份所致。2025 年 01 月 24 日至 2025 年 02 月 10 日期间，黑猫集团通过集中竞 价交易方式增持公司股份 2,627,000 股，其持股比例由 34.64%增加至 35.00%， 根据《证券期货法律适用意见第 19 号—＜上市公司收购管理办法＞第十三条、 第十四条的适用意见》相关规定，控股股东持股比例增加至触及 5%的整数倍。 2、本次权益变动不触及要约收购，不会导致公司控股股东、实际控制人发 生变化，不会影响公司的治理结构和持续经营。 一、本次权益变动的基本情况 江西黑猫炭黑股份有限公司于 2024 年 12 月 ...