天赐材料（002709） 特此公告。 广州天赐高新材料股份有限公司监事会 | 证券代码：002709 | 证券简称：天赐材料 | 公告编号：2024-032 | | --- | --- | --- | | 转债代码：127073 | 转债简称：天赐转债 | | 广州天赐高新材料股份有限公司 关于公司监事辞职及补选监事的公告 本公司及监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。 广州天赐高新材料股份有限公司（以下简称"公司"）于 2024 年 3 月 29 日 收到了监事姚宇泽先生的书面辞职报告，姚宇泽先生因个人原因请求辞去公司监 事职务。姚宇泽先生辞去监事职务后，不在公司担任其他职务。 公司第六届监事会原有监事 3 人。根据《中华人民共和国公司法》及《公司 章程》等有关法律法规规定，姚宇泽先生的辞职导致公司监事人数低于法定最低 人数，姚宇泽先生的辞职报告将在公司股东大会选举产生新任监事填补其空缺后 生效。在此之前，姚宇泽先生将继续按照《公司章程》及有关法律法规规定，履 行监事职责。经查询，截止本公告披露日姚宇泽先生未持有公司股票，亦不存在 应当履行而未履行的承诺事项 ...

天赐材料（002709） | 证券代码：002709 | 证券简称：天赐材料 公告编号：2024-033 | | --- | --- | | 转债代码：127073 | 转债简称：天赐转债 | 广州天赐高新材料股份有限公司 关于 2023 年度股东大会增加提案暨股东大会补充通知 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。 广州天赐高新材料股份有限公司（以下简称"公司"）2024年3月22日召开的 第六届董事会第十五次会议审议通过了《关于召开2023年度股东大会的议案》， 决定于2024年4月16日（星期二）召开2023年度股东大会。具体内容详见公司于 2024年3月26日在巨潮资讯网（http://www.cninfo.com.cn）披露的《关于召开2023 年度股东大会通知的公告》（公告编号：2024-030）。 2024年3月29日，公司董事会收到控股股东徐金富先生书面提交的《关于提 请增加2023年度股东大会临时提案的函》，提议将《关于补选监事的议案》增加 至公司2023年度股东大会审议，提案的具体内容详见公司于2024年3月30日在巨 潮资 ...

] y r t s u d n I _ e l b a T [ [ 天Ta 赐bl 材e_ 料T （itl 0e 0] 2 709）2023年报点评 公 司 行业竞争加剧，市占率不断提升 研 挖掘价值 投资成长 究 / [Table_Rank] 增持 有 （维持） 色 金 2024 年 03 月 29 日 属 / [东Ta方bl财e_富Au证th券or研] 究所 证 券 [【Ta投bl资e_要Su点mm】ar y] 证券分析师：周旭辉 研 究 证书编号：S1160521050001 报 证券分析师：李京波 告  2024年3月26日，公司发布2023年年报。公司23年实现营业收入 证书编号：S1160522120001 154.05 亿元，同比下降 30.97%，实现归母净利润 18.91 亿元，同比 联系人：李京波 下降66.92%。23Q4实现营业收入32.81亿元，同比变化-44.29%，环 电话：13127673698 比降低20.71%，实现归母净利润1.39亿元，同比变化-89.74%，环比 [相T对ab指le数_P表ic现Qu ote] 降低 70.02%。费用率方面，公司 23年销售费用率/ ...

Investment Rating - The report maintains an "Accumulate" rating for the company [1][3]. Core Views - The company's performance in 2023 met expectations, with a reported profit of 1.891 billion RMB, a year-on-year decline of 66.92%. The decrease aligns with the company's prior earnings forecast [3][4]. - Despite the overall slowdown in the electrolyte market and intensified competition, the company's core product sales continued to grow, with electrolyte sales reaching 396,000 tons, a year-on-year increase of approximately 24% [3][4]. - The company has improved its integration level, with self-supply ratios for key raw materials exceeding 93% for liquid lithium hexafluorophosphate and 80% for some core additives, maintaining a leading market share of 36.4% in the domestic electrolyte market [3][4]. Summary by Sections Financial Performance - In 2023, the company achieved total revenue of 15.405 billion RMB, a decrease of 31% compared to 2022. The EBITDA was 3.022 billion RMB, and the net profit attributable to shareholders was 1.891 billion RMB, reflecting a significant decline of 66.9% [4][5]. - The gross profit margin decreased to 25.92%, down 12.05 percentage points year-on-year, while the net profit margin fell to 11.96%, a decrease of 14.23 percentage points [5][7]. Future Projections - The report adjusts the earnings per share (EPS) forecasts for 2024-2026 to 0.68, 1.04, and 1.39 RMB, respectively, with corresponding price-to-earnings ratios of 32.1, 20.9, and 15.7 times [3][4]. - Revenue projections for 2024 are set at 15.383 billion RMB, with a slight decline expected, followed by a recovery in 2025 and 2026 [4][6]. Market Position - The company continues to enhance its market position, with a focus on maintaining a competitive edge through increased self-supply of key materials and strategic partnerships with major domestic and international clients [3][4].

其他化学制品Ⅱ 分析师：牟国洪 行业竞争加剧，业绩短期承压 登记编码：S0730513030002 m ough@ccnew.com 021-50586980 ——天赐材料(002709)年报点评 证券研究报告-年报点评 增持(首次) 市场数据(2024-03-27) 发布日期：2024年03月28日 收盘价(元) 21.76 事件：公司公布2023年年度报告。 一年内最高/最低(元) 46.89/16.63 投资要点： 沪深300指数 3,502.79 市净率(倍) 3.18  公司业绩短期承压。2023年，公司实现营收154.05亿元，同比下 流通市值(亿元) 301.35 降30.79%；营业利润23.43亿元，同比下降65.90%；净利润18.91 亿元，同比下降 66.92%；扣非后净利润 18.24 亿元，同比下降 基础数据(2023-12-31) 67.08%；经营活动产生的现金流净额22.74亿元，同比下降45.38%； 每股净资产(元) 6.84 基本每股收益 0.99 元，加权平均净资产收益率 14.78%，利润分配 每股经营现金流(元) 1.18 预案为每 10 股派发现金红利 3 元 ...

Investment Rating - The report maintains a "Buy -B" rating for the company, indicating a strong potential for investment returns over the next six months [1][5]. Core Insights - The company reported a total revenue of 15.405 billion yuan for 2023, a year-on-year decrease of 31% [1]. - The net profit attributable to shareholders was 1.891 billion yuan, down 66.9% compared to the previous year [3]. - The company plans to distribute a cash dividend of 3 yuan per 10 shares, which exceeds 30% of the net profit for 2023 [1]. - The demand for lithium batteries continues to grow due to the rapid expansion of the global electric vehicle and energy storage markets, positioning the company as a key supplier in the lithium battery materials sector [1][3]. - The company achieved a sales volume of 396,000 tons of electrolyte, representing a 24% increase, with a market share expected to reach 36.4% [1]. Financial Performance Summary - Revenue for 2022 was 22.317 billion yuan, with a significant drop to 15.405 billion yuan in 2023, and projected revenues of 14.770 billion yuan, 19.347 billion yuan, and 24.900 billion yuan for 2024, 2025, and 2026 respectively [3][4]. - The gross profit margin decreased from 38% in 2022 to 25.9% in 2023, with further projections of 21.4%, 22.8%, and 23.8% for the following years [3][4]. - The company’s return on equity (ROE) fell from 45.5% in 2022 to 13.6% in 2023, with expectations of recovery to 16.3% by 2026 [3][4]. Market Position and Strategy - The company is focusing on enhancing its supply chain for core materials, achieving over 93% self-supply for liquid lithium hexafluorophosphate and over 80% for certain core additives [1]. - The company is expanding its production capacity in various regions, including Sichuan and Chizhou, and is advancing projects in Germany and North America [1]. - The company is actively developing new products and improving product performance to enhance competitiveness in the market [1].

证券研究报告 公司点评 天赐材料(002709.SZ) 电力设备｜ 电池 行业竞争加剧，综 合实力保持领先 2024年 03月 26日 预测指标 2022A 2023A 2024E 2025E 2026E 评级 买入 主营收入(亿元) 223.17 154 .05 154.07 186.76 212.92 归母净利润(亿元) 57.14 18.91 14.32 20.53 24.12 评级变动 维持 每股收益（元） 2.97 0.98 0.74 1.07 1.25 交易数据 每股净资产（元） 6.42 6.84 7.48 8.39 9.47 当前价格（元） 20.02 P/E 6.74 20.38 26.91 18.76 15.97 52周价格区间（元） 16.63-46.89 P/B 3.12 2.93 2.68 2.39 2.11 总市值（百万） 38521.70 资料来源：iFinD，财信证券 流通市值（百万） 27725.44 总股本（万股） 192415.70 投资要点： 流通股（万股） 138488.70  事件：3月 25日，公司发布 2023年年度报告，2023年实现营收154.05 亿元， ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 24.49 CNY, based on a PE ratio of 31 times for 2024 [6][8]. Core Views - The company reported a significant decline in revenue and net profit for 2023, with revenue at 15.405 billion CNY, down 30.97% year-on-year, and net profit at 1.891 billion CNY, down 66.92% year-on-year [2][3]. - The decline in profitability is attributed to inventory impairment and a decrease in gross margin, with a gross margin of 25.26% for lithium battery materials, down 13.29 percentage points year-on-year [3]. - The company is enhancing its production capacity and accelerating the launch of new products, including a 300,000-ton phosphate iron project and a 15.2 million-ton lithium battery new materials project [4]. - The company is expanding its overseas operations, with a production capacity of 13,000 tons of electrolyte in Germany and plans for additional production bases in North America and Morocco [5]. Financial Summary - The company’s projected revenues for 2024, 2025, and 2026 are 14.993 billion CNY, 18.920 billion CNY, and 23.102 billion CNY, respectively, with year-on-year growth rates of -2.67%, 26.19%, and 22.10% [6][7]. - The projected net profits for the same years are 1.513 billion CNY, 1.772 billion CNY, and 2.445 billion CNY, with corresponding growth rates of -19.95%, 17.06%, and 38.01% [6][7]. - The company’s earnings per share (EPS) are expected to be 0.79 CNY, 0.92 CNY, and 1.27 CNY for 2024, 2025, and 2026, respectively [6][7].

投资者关系活动记录表 证券代码：002709 证券简称：天赐材料 编号：2024-002 转债代码：127073 转债简称：天赐转债 广州天赐高新材料股份有限公司投资者关系活动记录表 □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 参与单位名称 详细参与人员名单见后续附表 时间 2024 年 3月26日 9:00-10:00 上市公司接待 董事长 徐金富；财务总监 顾斌； 人员姓名 董事会秘书 韩恒；投资者关系经理 杨凌杰 本次交流会议分为两个部分，第一部分是公司对2023 年年度经营情况做简要介绍；第二部分为问答环节。 一、公司 2023 年年度经营情况介绍 根据公司2023年年度报告，2023 年公司实现营业 收入 154.05 亿元，归属于上市公司股东的净利润 18.91 亿元，同比下降 66.92%，实现归属于上市公司 股东的扣除非经常性损益后的净利润 18.23 亿元，基 ...

Investment Rating - The report maintains a "Buy" rating for the company [2][5]. Core Views - The company's performance in 2023 was significantly impacted by a 31% year-on-year decline in revenue to 15.405 billion yuan and a 66.9% drop in net profit to 1.891 billion yuan, primarily due to falling prices in the lithium battery materials sector [2]. - Despite the challenges, the company continues to expand its production capacity and increase the self-supply ratio of core raw materials, with a current capacity of 905,600 tons for lithium-ion battery materials [2]. - The company is accelerating its overseas capacity layout, with successful production at its German OEM factory and ongoing projects in the U.S. and Morocco, aiming to meet the demand from international clients like Tesla and LGES [2]. Summary by Sections Financial Performance - In 2023, the company achieved a revenue of 15.405 billion yuan, down 31% from the previous year, and a net profit of 1.891 billion yuan, down 66.9% [2]. - The fourth quarter saw a revenue of 3.281 billion yuan, a 44.3% year-on-year decline, and a net profit of 139 million yuan, down 89.7% year-on-year [2]. - The average selling price of lithium battery materials fell to 23,000 yuan per ton, a decrease of 52.3% year-on-year, contributing to a gross margin of 25.9%, down 12.1 percentage points [2]. Production Capacity and Expansion - The company is actively enhancing its lithium battery materials production capacity, with ongoing projects that include a 41,000 tons per annum lithium-ion battery materials project and a 200,000 tons lithium battery materials project [2]. - The self-supply ratio for liquid lithium hexafluorophosphate and LiFSI reached over 93%, with some core additives achieving an 80% self-supply ratio [2]. Market Strategy - The company is deepening its partnerships with major domestic and international clients in the daily chemical materials sector, achieving significant breakthroughs in supply chains with brands like Estée Lauder and expanding its market share with multinational corporations [2]. - The focus for 2024 includes expanding into the European, American, and Korean markets for lithium battery electrolytes and cathode materials [2]. Profit Forecast and Valuation - The profit forecasts for 2024, 2025, and 2026 are adjusted to 1.408 billion yuan (down 68.8%), 2.123 billion yuan (down 62.8%), and 2.606 billion yuan, respectively [2]. - The company is positioned as a leader in the electrolyte industry, with significant advantages in capacity planning and supply chain layout [2].