Financial Performance - Revenue for Q3 2024 was ¥1,738,609,945.67, a decrease of 42.97% compared to ¥3,048,385,306.73 in the same period last year[3] - Net profit attributable to shareholders was ¥202,413,881.23, down 82.38% from ¥1,148,847,636.34 year-on-year[3] - Net profit excluding non-recurring items was ¥169,426,545.53, reflecting an 82.56% decline from ¥969,974,875.47 in the previous year[3] - Cash flow from operating activities was ¥387,203,423.33, a significant drop of 88.87% compared to ¥3,479,338,243.30 in the same period last year[3] - The company's basic earnings per share were ¥0.38, down 82.24% from ¥2.14 in the same period last year[3] - The weighted average return on equity was 1.62%, down from 9.04% year-on-year, a decrease of 7.42%[3] - The company reported a 35.79% decline in revenue for the first nine months of 2024, totaling ¥6,230,880,788.85 compared to ¥9,703,961,100.52 in the same period last year[7] - Total operating revenue for the current period is ¥6,230,880,788.85, a decrease of 35.5% compared to ¥9,703,961,100.52 in the previous period[17] - Operating profit for the current period is ¥1,186,274,235.07, a decline of 68.5% from ¥3,773,112,616.42 in the previous period[17] - The company reported a net profit of ¥1,174,184,155.70 for the current period, down from ¥3,761,016,633.87 in the previous period[17] - The net profit for the current period is approximately ¥992.25 million, a decrease from ¥3.17 billion in the previous period, representing a decline of about 68.7%[18] - The basic earnings per share for the current period is ¥1.81, down from ¥5.70 in the previous period, indicating a decrease of approximately 68.3%[18] - The total comprehensive income attributable to the parent company's owners is approximately ¥970.77 million, down from ¥3.05 billion in the previous period, a decrease of about 68.2%[18] Assets and Liabilities - Total assets at the end of Q3 2024 were ¥15,506,219,373.71, a decrease of 10.26% from the previous year[3] - Total assets at the end of the period amount to ¥13,915,457,996.49, down from ¥15,506,219,373.71 at the beginning of the period[15] - Total liabilities at the end of the period are ¥1,184,091,508.84, a decrease from ¥2,230,537,953.70 in the previous period[15] - Cash and cash equivalents decreased to ¥7,052,391,895.52 from ¥9,439,887,526.25 at the beginning of the period[14] - The company reported cash and cash equivalents at the end of the period amounting to ¥7.02 billion, down from ¥9.19 billion at the end of the previous period, a decrease of approximately 23.7%[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 57,728, with the largest shareholder, Gao Xingjiang, holding 35.72% of shares, totaling 192,550,206 shares[8] - The company repurchased a total of 11,381,748 shares, accounting for 2.11% of the total share capital, with a total transaction amount of approximately RMB 499.85 million[11] - The highest transaction price during the share repurchase was RMB 53.05 per share, while the lowest was RMB 31.41 per share[11] - The top ten shareholders include Zhejiang Jiuli Special Materials Technology Co., Ltd. with a 7.15% stake, holding 38,570,000 shares[9] - The company has not reported any changes in the participation of major shareholders in margin trading or securities lending activities[10] - The company has not disclosed any related party relationships among the top ten shareholders[9] - The total number of preferred shareholders with restored voting rights is not applicable as there are no preferred shares reported[10] Cash Flow and Financing Activities - Cash flow from operating activities for the current period is ¥387.20 million, significantly lower than ¥3.48 billion in the previous period, reflecting a decline of about 88.9%[21] - Total cash inflow from financing activities is ¥883.15 million, compared to ¥530.16 million in the previous period, showing an increase of approximately 66.4%[22] - The net cash outflow from financing activities is approximately -¥1.31 billion, compared to -¥2.41 billion in the previous period, indicating an improvement of about 45.5%[22] - The company paid approximately ¥1.21 billion in dividends and interest, down from ¥2.74 billion in the previous period, reflecting a decrease of about 55.8%[22] - The company recorded a tax expense of approximately ¥181.94 million, compared to ¥593.08 million in the previous period, a decrease of about 69.3%[18] Inventory and Costs - The company’s inventory decreased by 44.03% to ¥613,392,951.18, attributed to revenue recognition in the lithium-ion battery business[6] - Total operating costs for the current period are ¥5,318,278,984.15, down 12.8% from ¥6,101,116,419.49 in the previous period[17] - Inventory decreased significantly to ¥613,392,951.18 from ¥1,095,892,681.18 at the beginning of the period[14] - Research and development expenses for the current period are ¥223,396,331.35, a decrease from ¥327,667,018.99 in the previous period[17]

董事会编制和审核的公司 2024 年第三季度报告的程序符合法律、行政法规和中国 证监会的相关规定，报告内容真实、准确、完整地反映了公司的实际情况，不存在任 何虚假记载、误导性陈述或者重大遗漏。 永兴特种材料科技股份有限公司 第六届监事会第八次临时会议决议公告 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。 永兴特种材料科技股份有限公司（以下简称"公司"）于 2024 年 10 月 25 日以书 面及电子邮件等方式向公司全体监事发出了召开公司第六届监事会第八次临时会议的 通知。会议于 2024 年 10 月 30 日以通讯表决方式召开，会议应到监事 3 名，实到监事 3 名。本次会议的召集、召开符合《公司法》和《公司章程》的有关规定，会议决议合 法、有效。会议由公司监事会主席沈惠玉女士主持，经与会监事充分讨论，审议通过 了如下议案： 一、关于《2024 年第三季度报告》的议案 表决结果：同意：3 票；反对：0 票；弃权：0 票 证券代码：002756 证券简称：永兴材料 公告编号：2024-046 号 《2024 年第三季度报告》与本决议公告同日刊登于《证券时报 ...

Investment Rating - Buy (Maintained Rating) [2] Core Views - The company's Q2 performance met expectations, with continued cost optimization efforts [2] - Lithium business costs improved significantly, with a 10% reduction in operating costs per ton of lithium carbonate [2] - The special steel new materials business maintained stable profitability, with a gross margin increase of 1.79 percentage points year-on-year [3] - Resource expansion and smelting technology upgrades are progressing steadily, with mining capacity expected to increase from 3 million tons/year to 9 million tons/year [3] - The company's profit forecast for 2024-2026 has been adjusted downward due to lower lithium price assumptions, with expected net profits of 1.142 billion, 1.266 billion, and 1.675 billion yuan respectively [3] Financial Performance - H1 2024 revenue was 4.49 billion yuan, down 32.5% year-on-year, with net profit attributable to shareholders of 770 million yuan, down 59.6% year-on-year [2] - Q2 2024 revenue was 2.19 billion yuan, down 4.7% quarter-on-quarter, with net profit attributable to shareholders of 300 million yuan, down 35.9% quarter-on-quarter [2] - The company plans to distribute a cash dividend of 5.00 yuan per 10 shares (tax included) [2] Business Segments Lithium Business - H1 2024 lithium carbonate sales volume was approximately 13,500 tons, up 5% year-on-year, with Q2 sales volume of 6,600 tons, slightly down quarter-on-quarter [2] - The average price of battery-grade lithium carbonate in H1 2024 was 104,000 yuan/ton, down 68.4% year-on-year, with Q2 average price of 106,000 yuan/ton, up 4.3% quarter-on-quarter [2] - Operating cost per ton of lithium carbonate was 50,000 yuan, down over 10% year-on-year [2] Special Steel New Materials Business - H1 2024 gross margin was 12.31%, up 1.79 percentage points year-on-year [3] - Focused on high-value-added products such as high-temperature alloys for automotive engines, nuclear power steel, and valve steel [3] Expansion and Upgrades - Mining capacity expansion from 3 million tons/year to 9 million tons/year is underway, with related safety permits and mine expansion projects in progress [3] - A green, intelligent, and efficient lithium extraction technology upgrade project is in the approval stage, with an expected construction period of 9 months [3]

1、公司 2024 年半年度利润分配方案为：以公司 2024 年 6 月 30 日总股本 539,101,540 股剔除股票回购专用证券账户已回购股份 11,381,748 股后的余额 527,719,792 股为基数，向全体股东每 10 股派发现金红利 5.00 元人民币（含税），共 计分配现金红利 263,859,896.00 元（含税），不送红股，不以资本公积金转增股本。 证券代码：002756 证券简称：永兴材料 公告编号：2024-044 号 永兴特种材料科技股份有限公司 2、因公司回购专用证券账户上的股份不享有利润分配的权利，故本次权益分派实 施后，计算除权除息价格时，根据股票市值不变原则，实施权益分派前后公司总股本 保持不变，现金分红总额分摊到每一股的比例将减小。折算后，每股现金红利应以 0.4894437 元计算（每股现金红利=现金分红总额/总股本，即 0.4894437 元/股 =263,859,896.00 元/539,101,540 股）。因此，2024 年半年度权益分派实施后的除权 除息价格=股权登记日收盘价-0.4894437 元/股（按公司总股本折算的每股现金红利）。 2024年半 ...

永兴特种材料科技股份有限公司 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、误导性陈述或重大遗漏。 证券代码：002756 证券简称：永兴材料 公告编号：2024-043 号 重要提示： 1、本次股东大会无临时增加、修改或否决议案的情形。 2、本次股东大会未涉及变更以往股东大会决议的情形。 一、会议召开情况 （一）会议召开日期和时间： 1、现场会议时间为：2024 年 9 月 20 日 14:00 2、网络投票时间为：2024 年 9 月 20 日 3、通过深圳证券交易所交易系统进行网络投票的具体时间为：2024 年 9 月 20 日 上午 9:15 至 9:25，9:30 至 11:30，下午 13:00 至 15:00； 4、通过深圳证券交易所互联网投票系统投票的具体时间为：2024 年 9 月 20 日上 午 9:15 至下午 15:00 期间的任意时间。 （二）现场会议召开地点：浙江省湖州市霅水桥路 618 号永兴特种材料科技股份 有限公司一楼会议室。 （三）会议召集人：永兴特种材料科技股份有限公司董事会。 （四）会议召开方式：本次股东 ...

上海市通力律师事务所 关于永兴特种材料科技股份有限公司 2024 年第一次临时股东大会的法律意见书 致: 永兴特种材料科技股份有限公司 上海市通力律师事务所(以下简称"本所")接受永兴特种材料科技股份有限公司(以下 简称"公司")的委托, 指派本所徐青律师、俞挺律师(以下简称"本所律师")根据《中华人 民共和国公司法》《中华人民共和国证券法》《上市公司股东大会规则》等法律法规和规范性 文件(以下统称"法律法规")及《永兴特种材料科技股份有限公司章程》(以下简称"公司章 程")的规定就公司 2024 年第一次临时股东大会(以下简称"本次股东大会")相关事宜出 具法律意见。 本所律师已经对公司提供的与本次股东大会有关的法律文件及其他文件、资料予以了 核查、验证。在进行核查验证过程中, 公司已向本所保证, 公司提供予本所之文件中的所有 签署、盖章及印章都是真实的, 所有作为正本提交给本所的文件都是真实、准确、完整和有 效的, 且文件材料为副本或复印件的, 其与原件一致和相符。 在本法律意见书中, 本所仅对本次股东大会召集和召开的程序、出席本次股东大会人员 资格和召集人资格及表决程序、表决结果是否符合法律法规和公司章 ...

丨证券研究报告丨 公司研究丨点评报告丨永兴材料（002756.SZ） [Table_Title] 稳健经营，砥砺而行——永兴材料 2024 半年报 点评 | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | | | | 实现营业收入 44.92 亿元，同比 -32.5% ；实现归母净利 7.68 亿元，同比 -59.63% ； | | | 亿元，同比 -68.36% 。公司 2024Q2 实现营业收入 21.92 亿元，同比 - 3 亿元，同比 -69.13% 。环比 -35.88% ；实现扣非归母净利 2.96 亿元， | | | -3.86% 。 | | 分析师及联系人 [Table_Author] 王鹤涛 王筱茜 肖百桓 周相君 SAC：S0490512070002 SFC：BQT626 | --- | ...

Investment Rating - Maintain "Overweight" rating [2][5] Core Views - Revenue and gross margin declined, putting pressure on profits YoY [2] - H1 2024 revenue: 4.492 billion yuan, down 32.5% YoY - H1 2024 net profit: 768 million yuan, down 59.6% YoY - H1 2024 gross margin: 19.0%, net margin: 13.5% - Q2 2024 revenue: 2.19 billion yuan, down 34.0% YoY and 4.7% QoQ - Q2 2024 net profit: 300 million yuan, down 69.1% YoY and 35.9% QoQ - Lithium carbonate business achieved cost reduction and efficiency improvement [2] - Lithium carbonate operating cost per ton: 50,000 yuan, down over 10% YoY - Subsidiary Huaqiao Mining increased production scale from 3 million tons/year to 9 million tons/year - Yongcheng Lithium's 3 million tons/year lithium ore beneficiation project nearing completion - Special steel business improved profit per ton through production, supply, and sales optimization [2] - Focused on increasing product gross margin per ton - Successful R&D projects in nuclear power, aerospace, new energy vehicles, and industrial robotics Financial Forecasts - Revenue and profit forecasts adjusted downward [5] - 2024E revenue: 8.68 billion yuan - 2025E revenue: 9.73 billion yuan - 2026E revenue: 11.44 billion yuan - 2024E net profit: 1.172 billion yuan - 2025E net profit: 1.545 billion yuan - 2026E net profit: 2.249 billion yuan - Valuation metrics [5][6] - 2024E P/E: 15.9x - 2025E P/E: 12.1x - 2026E P/E: 8.3x - 2024E P/B: 1.35x - 2025E P/B: 1.24x - 2026E P/B: 1.11x Company Fundamentals - Market performance [4] - Market cap: 18.647 billion yuan - 52-week high/low: 58.60/29.92 yuan - 52-week P/E range: 8.79/4.03x - 52-week P/B range: 2.37/1.27x - 52-week return: -23.88% - 52-week turnover rate: 553.28% - Profitability [8] - 2024E gross margin: 18.05% - 2025E gross margin: 21.14% - 2026E gross margin: 26.18% - 2024E net margin: 13.85% - 2025E net margin: 16.30% - 2026E net margin: 20.23%

证券代码：002756 证券简称：永兴材料 公告编号：2024-042 号 永兴特种材料科技股份有限公司 关于回购股份比例达到2%暨回购股份实施完成的公告 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。 一、回购股份的基本情况及实施进展 永兴特种材料科技股份有限公司（以下简称"公司"）于 2023 年 8 月 27 日和 2023 年 9 月 15 日分别召开了第六届董事会第三次会议和 2023 年第三次临时股东大 会，审议通过了《关于以集中竞价方式回购公司股份方案的议案》，同意公司使用自 有资金以集中竞价的方式回购公司已发行的人民币普通股（A 股）股票，回购股份的 资金总额不低于人民币 30,000 万元（含）且不超过人民币 50,000 万元（含），回购 价格不超过人民币 80.00 元/股（含）。具体内容详见公司于 2023 年 8 月 29 日、2023 年9月21日刊登在巨潮资讯网上的《关于以集中竞价方式回购公司股份方案的公告》 （公告编号：2023-038 号）、《关于以集中竞价方式回购公司股份的回购报告书》 （公告编号：2023-045 号）。 ...

本报告仅供 Choice 东方财富 使用，请勿传阅。 2024 年 09 月 05 日 永兴材料(002756.SZ) 公司快报 证券研究报告 锂 投资评级 买入-A 维持评级 12 个月目标价 47.9 元 股价 (2024-09-04) 31.94 元 交易数据 总市值(百万元) 17,218.90 流通市值(百万元) 12,414.89 总股本(百万股) 539.10 流通股本(百万股) 388.69 12 个月价格区间 30.49/57.1 元 特钢业务维持韧性，积极降本应对锂价 波动 公司发布 2024 年中报 2024H1 营业收入 44.92 亿元，同比-32.50%；归母净利润 7.68 亿元， 同比-59.63%；扣非归母净利润 6.04 亿元，同比-68.36%。 其中 2024 年 Q2 营业收入 21.92 亿元，同比-33.95%、环比-4.70%； 归母净利润 3.00 亿元，同比-69.13%、环比-35.88%；扣非归母净利 润 2.96 亿元，同比-69.45%、环比-3.86%。 2024H1 公司取得其他收益 2.09 亿元，其中政府补助 1.95 亿元，增 值税加计抵减 ...