Financial Performance - The company's revenue for Q1 2025 reached ¥2,117,841,363.93, representing a 30.88% increase compared to ¥1,618,200,158.07 in the same period last year[5] - Net profit attributable to shareholders was ¥260,269,655.73, up 5.85% from ¥245,896,563.91 year-on-year[5] - Net profit for the current period was ¥267,816,764.05, representing a 7% increase from ¥250,366,108.23 in the previous period[20] - Basic and diluted earnings per share for the current period were both ¥0.5469, compared to ¥0.5167 in the previous period, reflecting an increase of 5.2%[20] Cash Flow - The net cash flow from operating activities improved significantly to -¥32,159,095.88, a 85.74% increase compared to -¥225,514,244.79 in the previous year[5] - Operating cash flow for the current period was -32,159,095.88 CNY, an improvement from -225,514,244.79 CNY in the previous period[21] - Cash inflow from operating activities was 1,703,307,176.08 CNY, slightly up from 1,633,916,295.80 CNY[21] - Net cash flow from financing activities was 1,053,215,659.64 CNY, compared to 478,863,236.00 CNY in the previous period[22] - Cash and cash equivalents at the end of the period totaled 1,974,163,073.74 CNY, an increase from 1,840,036,693.33 CNY[22] Assets and Liabilities - Total assets increased by 7.61% to ¥15,922,855,850.69 from ¥14,796,659,087.29 at the end of the previous year[5] - Total liabilities rose to ¥6,652,565,190.40, up from ¥5,752,834,677.02, indicating an increase of 15.6%[17] - The company's equity attributable to shareholders reached ¥7,422,362,634.90, an increase from ¥7,203,443,493.20, marking a growth of 3%[17] - The total liabilities to equity ratio increased to 0.72 from 0.64, indicating a higher leverage position[17] Shareholder Information - The company reported a total of 51,276 common shareholders at the end of the reporting period[11] - The company reported a total of 10 major shareholders, with the largest shareholder holding 22.00% of the shares[12] Operational Metrics - The company's basic earnings per share rose to ¥0.5469, reflecting a 5.84% increase from ¥0.5167 in the same period last year[5] - Total operating revenue for the current period reached ¥2,117,841,363.93, a significant increase of 30.9% compared to ¥1,618,200,158.07 in the previous period[19] - Total operating costs amounted to ¥1,803,344,764.23, up 37.3% from ¥1,312,236,045.44 in the prior period[19] Investments and Expenses - Research and development expenses for the current period were ¥68,672,025.00, up 25.9% from ¥54,456,917.48 in the previous period[19] - Long-term borrowings surged by 129.08% to ¥2,284,573,687.53, primarily due to increased borrowing for asset acquisition[9] - Sales expenses increased by 70.31% to ¥85,787,223.61, driven by higher sales activities during the quarter[9] Other Information - The company has not disclosed any new product or technology developments during the conference call[14] - There were no significant mergers or acquisitions mentioned in the earnings call[14] - The company did not provide specific future guidance or market expansion strategies in the call[14] - The company reported a decrease in other comprehensive income, with a net amount of -¥45,261,043.80 compared to -¥100,402,408.69 in the previous period[20] - The impact of exchange rate changes on cash and cash equivalents was -58,926,832.47 CNY, compared to a positive impact of 28,789,098.01 CNY in the previous period[22]

Core Viewpoint - The company, Yake Technology, has significantly improved its profitability, driven by the rapid growth of its semiconductor materials business, particularly in the context of increasing global demand for storage chips and advancements in AI, 5G, and autonomous driving applications [1][2]. Group 1: Financial Performance - In 2024, Yake Technology achieved an operating income of 6.862 billion yuan, a year-on-year increase of 44.84%, and a net profit of 872 million yuan, up 50.41% year-on-year [1]. - The basic earnings per share reached 1.83 yuan, and the company proposed a cash dividend of 2.6 yuan per 10 shares (including tax) [1]. Group 2: Business Growth and Market Position - The rapid development of the company's semiconductor precursor materials delivery equipment (LDS) business is attributed to the new semiconductor wafer production lines in China, leading to a significant increase in sales performance [1]. - Yake Technology's LDS products have achieved full benchmarking against European and American competitors, with a leading market share in China [1]. Group 3: Strategic Initiatives - The company has committed to increasing its R&D investment, with expenditures of 128 million yuan, 190 million yuan, and 249 million yuan from 2022 to 2024, totaling 567 million yuan over three years [2]. - Yake Technology has adopted a dual strategy of "internal growth + external mergers and acquisitions" to strengthen its semiconductor industry chain, including the acquisition of a 75.1% stake in SKC-ENF to enter the semiconductor wet chemicals market [2][3]. Group 4: Business Segments - Through a series of acquisitions, Yake Technology has established six major business segments: precursors, electronic special gases, photoresists, LNG boards, wet chemicals, and cleaning services, covering the entire semiconductor manufacturing process [3]. - The company holds over 10% of the global market share in precursors and maintains the leading position in the domestic market [3].

Core Insights - The company achieved a total revenue of 6.862 billion yuan in 2024, representing a year-on-year increase of 44.84% [2] - The net profit attributable to shareholders reached 871.58 million yuan, up 50.41% from the previous year [2] - The net profit after deducting non-recurring gains and losses was 900.71 million yuan, reflecting a growth of 61.36% [2] Financial Performance - Total revenue for 2024 was 6.862 billion yuan, compared to 4.738 billion yuan in 2023 [2] - Net profit attributable to shareholders was 871.58 million yuan, up from 579.48 million yuan in 2023 [2] - The net profit after deducting non-recurring gains was 900.71 million yuan, compared to 558.19 million yuan in 2023 [2] - Basic and diluted earnings per share were both 1.8313 yuan, an increase of 50.40% from 1.2176 yuan in 2023 [2] - The weighted average return on equity was 8.76%, slightly up from 8.39% in 2023 [2] Business Segments Electronic Materials - Revenue from electronic materials reached 4.507 billion yuan, accounting for 65.68% of total revenue, with a year-on-year growth of 40.47% [3] - The semiconductor precursor materials segment achieved full coverage of 12-inch wafer clients, with new product testing progressing smoothly [3] - The company's photoresist products are being mass-produced and delivered to major clients including BOE and LG Display [3] LNG Insulation Materials - The LNG insulation materials segment saw a significant increase in orders due to rising demand for large LNG transport vessels and land storage facilities [6] - New products received certification from industry authority GTT, and key materials have begun small-scale production [6] Flame Retardants - Sales of flame retardant products such as TCPP and specialty flame retardants showed a recovery growth of 2.04% compared to 2023 [8] - The company obtained government approval for the production of certain flame retardant varieties at its Binhai factory [8]

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The report highlights the rapid growth of precursor and LNG board businesses, indicating a positive outlook for the new materials platform [1][6] - The semiconductor materials segment shows strong demand from key clients, leading to significant revenue growth [6][9] - The LNG insulation materials business is expected to continue its strong performance due to increased orders and market demand [9][10] Financial Data and Earnings Forecast - The company achieved a total revenue of 6.86 billion yuan in 2024, representing a year-on-year growth of 45% [9] - The net profit attributable to the parent company for 2024 was 872 million yuan, with a year-on-year increase of 50% [9] - Revenue projections for the upcoming years are as follows: 9.09 billion yuan in 2025, 10.70 billion yuan in 2026, and 12.33 billion yuan in 2027, with respective growth rates of 32.5%, 17.7%, and 15.3% [8][10] - The forecasted net profit for 2025 is 1.15 billion yuan, with a growth rate of 32.5% [8][10] Business Segments - In the semiconductor materials sector, revenue from semiconductor chemical materials reached 1.95 billion yuan in 2024, with a year-on-year increase of 72% [6] - The electronic special gases segment generated 470 million yuan in revenue, reflecting a 7% year-on-year growth [6] - The LNG insulation materials segment reported revenue of 1.63 billion yuan, marking an 89% increase year-on-year [9]

Group 1 - Jacques Technology (002409.SZ) released its 2024 annual report on April 28, 2025, with 398 institutional investors holding a total of 95.8783 million A-shares, accounting for 20.15% of the total share capital [1] - The top ten institutional investors include Hong Kong Central Clearing Limited, National Integrated Circuit Industry Investment Fund Co., Ltd., and several funds from China Life Insurance Company, with the top ten holding a combined 12.45% of shares, down 1.76 percentage points from the previous quarter [1] Group 2 - In the public fund sector, 15 funds increased their holdings, including Fuqua Tianhui Growth Mixed (LOF) A/B and several semiconductor-themed ETFs, with an increase rate of 0.44% [2] - Conversely, 28 public funds reduced their holdings, including Guolian An Semiconductor ETF and Southern CSI 500 ETF, with a decrease rate of 1.45% [2] - A total of 324 new public funds were disclosed this period, including Guotai CES Semiconductor Chip Industry ETF and several other growth and technology-focused funds [2] - One foreign fund, Hong Kong Central Clearing Limited, reduced its holdings by 0.63% compared to the previous quarter [2]

证券代码：002409 证券简称：雅克科技 公告编号：2025-008 江苏雅克科技股份有限公司 特别提示：本公司及董事会全体成员保证公告内容的真实、准确和完整，没 有虚假记载、误导性陈述或者重大遗漏。 江苏雅克科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开了 第六届董事会第十三次会议及第六届监事会第十次会议，审议了《关于购买董监 高责任险的议案》，全体董事、监事均回避表决。 为保障广大投资者利益，完善公司风险管理体系，同时促进公司董事会、监 事及管理层充分行使权利、履行职责，根据《上市公司治理准则》的有关规定， 公司拟为公司及全体董事、监事及高级管理人员购买责任保险。现将相关情况公 告如下： 一、董监高责任险具体方案 1、投保人：江苏雅克科技股份有限公司； 2、被保险人：公司及公司全体董事、监事、高级管理人员以及相关责任人员； 3、赔偿限额：不超过 5,000.00 万元人民币/年（最终以签订的保险合同为准）； 4、保费支出：不超过人民币 30.00 万元/年（具体以保险公司最终报价数据 为准）； 关于购买董监高责任险的公告 5、保险期限：12 个月 （后续每年可续保或重新投保） ...

江苏雅克科技股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审说明 中兴华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址：北京市丰台区丽泽路 20 号丽泽 SOHO Ｂ座 20 层 邮编：100073 电话：(010) 51423818 传真：(010) 51423816 目 录 一、专项说明 二、附表 中 兴 华 会 计 师 事 务 所 （ 特 殊 普 通 合 伙 ） Z H O N G X I N G H U A C E R T I F I E D P U B L I C A C C O U N T A N T S L L P 地址（ location ）： 北 京 市 丰 台 区 丽 泽 路 2 0 号 丽 泽 S O H O B 座 2 0 层 20/F,Tower B,Lize SOHO,20 Lize Road,Fengtai District,Beijing PR China 电话（ tel ）： 010 - 5 1 4 2 3 8 1 8 传真（ fax ）： 010 - 5 1 4 2 3 8 ...

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