Investment Rating - The report assigns a "Buy" investment rating for the company, marking the first coverage of the stock [8]. Core Insights - The company achieved a stable growth in performance, with a full production and sales of 110,000 tons of differentiated polyester industrial yarn in Vietnam, contributing to profit growth in 2024 [4]. - The company reported a total revenue of 5.901 billion yuan in 2024, a year-on-year increase of 4.96%, and a net profit attributable to shareholders of 411 million yuan, up 17.58% year-on-year [3][10]. - The company is focusing on expanding its international production capacity and optimizing its global supply chain, with ongoing projects in Vietnam [6][7]. Financial Performance - In 2024, the company’s polyester industrial filament production reached 311,600 tons, an increase of 8.24% year-on-year, while sales were 246,000 tons, up 7.74% year-on-year [4]. - The financial expense ratio increased due to a decrease in exchange gains and interest income, with the sales/management/financial/R&D expense ratios showing slight changes [5]. - The company forecasts net profits of 443 million yuan, 482 million yuan, and 518 million yuan for 2025, 2026, and 2027 respectively, with corresponding P/E ratios of 12.7, 11.6, and 10.8 [8][10]. Production Capacity and Future Outlook - The first phase of the 110,000-ton polyester industrial filament project in Vietnam has been fully operational, and the company is accelerating the development of a 18,000-ton high-performance tire cord project [6]. - The company aims to establish a global R&D center to enhance its competitive edge and maintain high-quality, high-performance differentiated products [7]. Earnings Forecast - The company’s revenue is projected to grow from 5.901 billion yuan in 2024 to 6.696 billion yuan in 2027, with a compound annual growth rate of approximately 3.1% [10]. - The net profit is expected to grow at a CAGR of around 7.4% from 2024 to 2027, reflecting a strong outlook for profitability [10].

Core Points - The stock price of Hailide (002206) increased by 8.37% to 5.05 yuan as of March 28, 2025, with a weekly high of 5.64 yuan and a low of 4.52 yuan [1] - The total market capitalization of Hailide is 5.613 billion yuan, ranking 12th in the chemical fiber sector and 2611th in the A-share market [1] Shareholder Changes - As of March 31, 2025, the number of shareholders increased by 18,300 to 52,300, representing a growth of 53.96% [2] - The average number of shares held per shareholder decreased from 34,200 to 22,200, with an average holding value of 113,500 yuan [2] Performance Highlights - Hailide's 2024 annual report shows a main revenue of 5.901 billion yuan, a year-on-year increase of 4.96% [3] - The net profit attributable to shareholders reached 411 million yuan, up 17.58% year-on-year, with a non-recurring net profit of 400 million yuan, increasing by 12.95% [3] - In Q4 2024, the quarterly main revenue was 1.533 billion yuan, a 12.68% increase year-on-year, and the quarterly net profit attributable to shareholders was 114 million yuan, up 48.11% [3] - The debt ratio stands at 46.67%, with investment income of 1.0431 million yuan and financial expenses of 29.1157 million yuan, while the gross profit margin is 16.04% [3] Company Announcements - Hailide announced a share buyback plan on January 6, 2025, with a total amount between 150 million and 300 million yuan, at a maximum price of 6 yuan per share, to be executed within 12 months [4] - As of March 31, 2025, the company has repurchased 33,505,372 shares, accounting for 2.88% of the total share capital, with a total transaction amount of approximately 148.29 million yuan [4] - The company experienced an operational error during the buyback process, resulting in the purchase of 350,000 shares, and has since strengthened its operational management [4]

Core Viewpoint - HaiLiDe's 2024 annual report indicates a revenue of 5.901 billion yuan, a year-on-year increase of 4.96%, and a net profit of 411 million yuan, up 17.58% [1] Group 1: Business Strategy and Development - The company plans to enhance its layout in the new materials sector by increasing capital investment in two wholly-owned subsidiaries by 140 million yuan [1] - HaiLiDe aims to focus on three main areas: automotive safety products, advertising materials, and new materials, while increasing investment in basic research [1][2] - The company is actively implementing a globalization strategy to strengthen risk resistance and accelerate international expansion [1] Group 2: Product and Market Position - HaiLiDe's polyester industrial yarn and tire fabric businesses are operating at full capacity, with significant differentiation advantages in the domestic polyester industrial yarn industry [1] - The demand for polyester automotive yarn is experiencing strong growth due to the rapid expansion of the new energy vehicle market and increased inventory replenishment needs from overseas tire manufacturers [1][2] Group 3: Research and Innovation - The company emphasizes innovation in product development, with a research and development investment of 170 million yuan planned for 2024 [2] - HaiLiDe is the first company globally to successfully develop polyester as a substitute for nylon in automotive airbag yarn, establishing a brand advantage in the global industry [2][4] - The company is constructing a new 25,000 square meter R&D center with a total investment of 132 million yuan to enhance its key technology research and innovation capabilities [3] Group 4: Future Outlook - HaiLiDe aims to transform into a technology-driven provider of high-precision integrated solutions, moving from manufacturing to technological innovation [4] - The company has made breakthroughs in core technologies and industrialization, including small batch shipments of PPS special fibers and the initiation of market promotion for high-performance fibers [4]

Summary of Key Points Core Viewpoint - The company Hai Li De announced a dividend distribution plan for the fiscal year 2024, proposing a cash dividend of 1.8 yuan per 10 shares, which amounts to a total cash payout of 203 million yuan, representing 49.49% of its net profit, with a dividend yield of 4.22% based on the average trading price for the year [2][3]. Financial Performance - For the fiscal year 2024, the company reported a revenue of 5.901 billion yuan, reflecting a year-on-year growth of 4.96%. The net profit reached 411 million yuan, marking a 17.58% increase compared to the previous year. The basic earnings per share were 0.35 yuan, and the weighted average return on equity was 10.84% [3]. Market Activity - The stock experienced a net outflow of 19.08 million yuan in principal funds today, with a total net outflow of 75.74 million yuan over the past five days [4]. - The latest margin financing balance for the stock is 221 million yuan, which has increased by 46.33 million yuan, representing a growth of 26.46% over the past five days [5]. Industry Comparison - Within the basic chemical industry, 63 companies have announced their dividend distribution plans for 2024. The highest cash payout was from Bao Feng Energy at 3.007 billion yuan, followed by Yun Tian Hua and Wei Xing Chemical with payouts of 2.552 billion yuan and 1.684 billion yuan, respectively [5].

证券代码：002206 证券简称：海利得 公告编号：2025-017 浙江海利得新材料股份有限公司 关于申请办理银行授信额度的公告 为满足公司日常生产经营及业务拓展的需要，2025年公司以及合并范围内国内子 公司拟向各类性质银行申请综合授信额度不超过人民币84.47亿元的银行授信额度； 同意曾孙公司越南海利得向银行申请合计不超过1亿美元（或其他等值外币）的银行 授信额度。银行授信内容包括但不限于：流动资金贷款、项目贷款、信用证、保函、 贸易融资、银行承兑汇票、保理等信用品种。该额度可循环使用，上述授信期限有效 期为自本议案经2024年度股东大会审议通过之日起至下一年年度股东大会召开之日。 公司上述拟申请的授信额度不等于公司实际使用金额，实际使用应在上述额度范 围内以银行与公司及子公司、曾孙公司实际发生的融资金额为准。公司将根据实际业 务需要办理具体业务，最终发生额以实际签署的合同为准。本事项不构成关联交易。 为便于银行贷款、抵押、开具保函等相关业务的办理，提请董事会授权董事长或 总经理在银行的授信额度内签署贷款、抵押、开具保函等相关文件，并可根据实际情 况在不超过计划总额的前提下，对上述银行借款进行适当的调整 ...

浙江海利得新材料股份有限公司 2024 年度董事会工作报告 2024 年，浙江海利得新材料股份有限公司（以下简称"公司"）董事会严格按 照法律法规、规范性文件及《公司章程》的规定，本着对全体股东负责的态度，积 极有效地行使董事会职权，认真贯彻落实股东大会的各项决议，勤勉尽责地开展董 事会各项工作，推动公司治理水平的提高和公司各项业务健康稳定发展。现就公司 董事会 2024 年度的工作情况报告如下： 1、2024 年度主要经营指标情况 | 单位：元 | | --- | | | 2024 年 | 2023 年 | 本年比上年增减 | 2022 年 | | --- | --- | --- | --- | --- | | 营业收入（元） | 5,901,237,793.44 | 5,622,363,157.47 | 4.96% | 5,512,054,814.52 | | 归属于上市公司股东的 | 410,560,290.58 | 349,166,983.91 | 17.58% | 332,088,774.70 | | 净利润（元） | | | | | | 归属于上市公司股东的 扣除非经常性损益的净 | 400,08 ...

| 事务所名称 | 天健会计师事务所（特殊普通合伙） | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 成立日期 | 2011 年 月 18 日 | 7 | 组织形式 | | | 特殊普通合伙 | | | 注册地址 | 浙江省杭州市西湖区灵隐街道西溪路 | | | 128 | 号 | | | | 首席合伙人 | 钟建国 | | 上年末合伙人数量 | | | 241 | 人 | | 上年末执业人 | 注册会计师 | | | | | 2,356 | 人 | | 员数量 | 签署过证券服务业务审计报告的注册会计师 | | | | | 904 | 人 | | 2023 年（经审 | 业务收入总额 | | | 34.83 | 亿元 | | | | 计）业务收入 | 审计业务收入 | | | 30.99 | 亿元 | | | | | 证券业务收入 | | | 18.40 | 亿元 | | | | | 客户家数 审计收费总额 | | | 707 7.20 | 家 亿元 | | | | 2024 年上市公 | | | | 制造业，信息传输、软件 ...

证券代码：002206 证券简称：海利得 公告编号：2025-018 浙江海利得新材料股份有限公司 1、主要涉及的外币及业务品种 公司拟开展的外汇衍生品交易业务只限于从事于公司生产经营所使用的主要结 算货币相同的币种，主要外币币种包括但不限于美元欧元等与实际业务相关的币种； 交易品种包括远期结售汇、外汇掉期、外汇期权、结构性远期等简单易管理的外汇衍 生品。 2、预计业务期间和交易金额 公司及合并范围内子公司拟开展额度（期限内任一时点交易余额）不超过4亿美 元（或其他等值外币）的外汇衍生品交易业务，决议有效期自本次议案经2024年度股 东大会通过之日起算至下一年年度股东大会召开之日止，上述额度可以循环滚动使用, 1 / 3 关于开展外汇衍生品交易业务的公告 本公司及全体董事、监事、高级管理人员保证公告内容的真实、准确和完 整，并对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 浙江海利得新材料股份有限公司（以下简称"公司"）于2025年4月1日召开的第八 届董事会第二十四次会议，审议通过了《关于开展外汇衍生品交易业务的议案》，同 意公司及合并范围内子公司拟开展额度（期限内任一时点交易余额）不超过4亿美元 （ ...

证券代码：002206 证券简称：海利得 公告编号：2025-022 浙江海利得新材料股份有限公司 关于使用闲置自有资金购买理财产品的公告 本公司及全体董事、监事、高级管理人员保证公告内容的真实、准确和完 整，并对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 浙江海利得新材料股份有限公司（以下简称"公司"）于2025年4月1日召开 第八届董事会第二十四次会议，审议通过了《关于使用闲置自有资金购买理财产 品的议案》，同意公司及子公司使用最高额度合计不超过人民币8亿元（含本数） 的闲置自有资金进行阶段性投资理财，公司授权管理层负责办理相关事宜，授权 期限自2024年度股东大会通过之日起至下一年年度股东大会召开之日。本议案尚 需提交公司2024年度股东大会审议。该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。 一、基本情况 1、投资目的：为提高公司资金使用效率，在不影响公司及子公司正常经营 且保证资金安全的情况下，利用闲置自有资金购买理财产品，有利于提高公司资 金使用效益，增强公司盈利能力，为公司和股东获取更多的投资回报。 2、投资品种：公司及子公司拟购买安全性高、流动性好 ...

2024 年度监事会工作报告 浙江海利得新材料股份有限公司 2024年，公司监事会严格按照《公司法》、《公司章程》和《监事会议事规 则》等法律法规及规章制度的规定，遵守诚信原则，恪尽职守，认真履行各项职 权和义务，切实维护公司利益和全体股东的合法权益。监事会成员通过列席所有 股东会和董事会会议，了解和掌握公司的生产经营决策等情况，对公司董事和其 他高级管理人员执行职务的行为进行了监督，切实维护了公司利益和全体股东的 合法权益。 报告期内，公司监事会共召开6次会议，分别就定期报告、利润分配预案、 内部控制、续聘审计机构等事项进行了核查确认，相关会议决议刊登在《证券时 报》及巨潮资讯网（www.cninfo.com.cn）上。 就2024年公司经营管理情况，监事会发表意见如下： 一、对2024年度经营管理行为及业绩的基本评价 2024年监事会严格按照《公司法》、《公司章程》、《监事会议事规则》和 有关法律、法规的要求，从切实维护公司利益和广大中小股东权益出发，认真履 行监督职责。监事会成员列席了2024年历次董事会会议和股东会会议，并认为董 事会认真执行了股东会的决议，忠实履行了诚信义务，未出现损害公司、股东利 ...