Investment Rating - The report assigns a neutral investment rating to the company, indicating a projected performance in line with the benchmark index [11]. Core Views - The company is expected to experience significant revenue growth, with projected revenues increasing from 1,817.02 million yuan in 2024 to 3,500 million yuan by 2027, reflecting a compound annual growth rate (CAGR) of approximately 34.62% in the final year [5][7]. - The net profit attributable to the parent company is forecasted to rise from 202.17 million yuan in 2024 to 493.59 million yuan in 2027, with a notable profit growth rate of 47.50% in 2027 [5][7]. - The gross margin is expected to improve gradually from 34.20% in 2024 to 37.14% in 2027, indicating enhanced operational efficiency [5][7]. Financial Performance Summary Revenue and Profitability - Revenue is projected to grow from 1,817.02 million yuan in 2024 to 3,500 million yuan in 2027, with growth rates of 15.57%, 21.08%, 18.18%, and 34.62% respectively [5][7]. - The net profit is expected to increase from 202.17 million yuan in 2024 to 493.59 million yuan in 2027, with growth rates of -20.91%, 37.45%, 20.42%, and 47.50% respectively [5][7]. Key Financial Ratios - The projected diluted EPS is expected to rise from 0.47 yuan in 2024 to 1.15 yuan in 2027, reflecting strong earnings growth [5][7]. - The PE ratio is forecasted to decrease from 56.83 in 2024 to 23.28 in 2027, indicating a potential increase in valuation attractiveness over time [5][7]. Balance Sheet and Cash Flow - Total assets are expected to grow from 6,414.67 million yuan in 2024 to 7,755.92 million yuan in 2027, reflecting a healthy asset growth trajectory [6]. - Operating cash flow is projected to increase from 254.59 million yuan in 2024 to 572.95 million yuan in 2027, indicating improved cash generation capabilities [6].

本报讯 （记者冯思婕）8月11日晚间，浙江洁美电子科技股份有限公司（以下简称"洁美科技"）发布了 2025年半年度报告。上半年，公司实现营业总收入9.62亿元，同比增长14.67%；实现归属于上市公司股 东的净利润9849.41万元。 其中，今年第二季度洁美科技实现营收5.48亿元，环比增长32.41%；实现归母净利润0.65亿元，环比增 长92.03%。 同时，洁美科技还发布了2025年半年度利润分配预案，公司拟向全体股东每10股派发现金股利人民币1 元（含税），共计派发现金4259.8万元（含税）。 从业务角度来看，报告期内，洁美科技电子级薄膜材料营业收入1.16亿万元，同比增长61.29%。离型膜 方面，MLCC用途离型膜产品已在国巨电子（中国）有限公司、华新科技股份有限公司、广东风华高新 科技股份有限公司、潮州三环（集团）股份有限公司等主要客户端稳定批量供货且基本完成了自制基膜 的产品切换，并在深圳市宇阳科技发展有限公司、广东微容电子科技股份有限公司等知名国内客户端完 成了导入工作；同时也顺利完成了韩日系大客户的验证和批量供货，其中韩系客户海外基地通过了对公 司产品的认证测试，目前正在逐步放量中。 稳 ...

Investment Rating - The report maintains a "Buy" rating for the company, expecting significant profit growth in the coming years [5]. Core Views - The company's Q2 performance exceeded expectations, with a notable improvement in profitability on a quarter-over-quarter basis. The revenue for H1 2025 reached 962 million yuan, a year-on-year increase of 14.67%, while the net profit attributable to shareholders decreased by 18.78% [2][3]. - The company is experiencing a recovery in downstream demand, leading to increased production capacity and improved gross margins. The gross margin for H1 2025 was 33.40%, down 3.12 percentage points year-on-year, but the Q2 gross margin improved to 34.29%, reflecting a quarter-over-quarter increase of 2.07 percentage points [3][4]. Summary by Sections Financial Performance - In H1 2025, the company achieved a revenue of 962 million yuan, with a net profit of 98 million yuan, and a non-recurring net profit of 95 million yuan. Q2 2025 revenue was 548 million yuan, showing a year-on-year growth of 15.19% and a quarter-over-quarter growth of 32.41% [2]. - The company’s gross margin for H1 2025 was 33.40%, with a decrease of 3.12 percentage points year-on-year. The Q2 gross margin was 34.29%, reflecting a slight year-on-year decrease but a quarter-over-quarter improvement [3]. Business Segments - The electronic packaging materials segment generated 808 million yuan in revenue for H1 2025, a year-on-year increase of 9.97%, with a gross margin of 37.85%. The electronic-grade film materials segment saw a revenue increase of 61.29% year-on-year, reaching 116 million yuan, with a gross margin of 12.03% [3]. - The company has successfully expanded its high-end release film products to core customers, achieving stable supply to major clients and completing product validation with key customers [4]. Future Projections - The company is projected to achieve net profits of 280 million yuan, 410 million yuan, and 551 million yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 38.43%, 46.43%, and 34.52% [5][10]. - The current price-to-earnings (P/E) ratios are estimated at 28, 19, and 14 times for the years 2025, 2026, and 2027, indicating a favorable valuation outlook [5].

证券之星消息，8月12日其他电子板块较上一交易日上涨1.44%，旭光电子领涨。当日上证指数报收于 3665.92，上涨0.5%。深证成指报收于11351.63，上涨0.53%。其他电子板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600353 | 旭光电子 | 15.50 | 6.24% | 105.96万 | | 16.51亿 | | 002130 | 沃尔核材 | 24.34 | 4.78% | 160.41万 | | 38.67 Z | | 001298 | 好上好 | 33.20 | 4.40% | 47.07万 | | 15.32亿 | | 300475 | 香农芯创 | 37.00 | 3.96% | 23.34万 | | 8.49亿 | | 300184 | 力源信息 | 10.49 | 2.84% | 109.37万 | | 11.37亿 | | 300991 | 创益通 | 34.17 | 2.83% | 6.39万 | | 2.15亿 ...

资本开支方面，公司上半年投资活动现金流出4.16亿元，同比激增81.27%，主要用于江西"退城入园"项 目、广东离型膜产线扩建及复合集流体研发。公司在建工程增至14.45亿元，短期借款增至7.81亿元，叠 加一年内到期非流动负债2.30亿元，流动性压力显现，资产负债率增加到55.15%。存货余额攀升至5.38 亿元，较年初增长19.97%。 南方财经8月12日电，洁美科技（002859.SZ）近日发布2025年半年度报告，报告期内公司实现营业收入 9.62亿元，同比增长14.67%，但归母净利润同比下滑18.78%至0.98亿元，扣非净利润降幅扩大至 19.57%。经营活动现金流净额1.07亿元，同比下降21.33%。 从产品结构看，电子封装材料业务收入8.08亿元，同比增长9.97%，但毛利率同比下降3.35个百分点至 37.85%；电子级薄膜材料收入1.16亿元，同比大增61.29%，但毛利率仅12.03%。成本端压力显著，营业 成本同比增速达20.30%，超过营收增速5.63个百分点。管理费用激增33.34%至0.97亿元，主要因管理人 员扩充及薪资调整；财务费用大幅增长310.62%至0.29亿元，受 ...

离型膜进展顺利，复合集流体+载体铜箔弹性巨大 洁美科技(002859) | 投资评级:增持(维持) | | --- | 证券研究报告 其他电子Ⅱ / 公司点评 / 2025.08.12 | 基本数据 | 2025-08-11 | | --- | --- | | 收盘价(元) | 26.66 | | 流通股本(亿股) | 4.06 | | 每股净资产(元) | 6.72 | | 总股本(亿股) | 4.31 | 最近 12 月市场表现 -13% 7% 27% 47% 67% 87% 洁美科技 沪深300 上证指数 其他电子Ⅱ 分析师 张益敏 SAC 证书编号：S0160522070002 zhangym02@ctsec.com 分析师 黄梦龙 SAC 证书编号：S0160525070014 huangml@ctsec.com 相关报告 1. 《收入增长利润承压，离型膜进展顺利》 2025-04-30 2. 《新品研发挤压利润，离型膜进入业绩贡 献期》 2025-04-16 3. 《载带业务软复苏 膜材料产品高端化进 行中》 2024-09-04 核心观点 盈利预测 [币种Table_FinchinaSimple ...

洁美科技2025半年报 ...

Core Viewpoint - The company, Zhejiang Clean Beauty Electronics Technology Co., Ltd., has announced its 2025 semi-annual profit distribution plan, which includes a cash dividend of 1.00 RMB per 10 shares, reflecting a commitment to shareholder returns and confidence in future growth [12][22][29]. Group 1: Company Overview - The company reported a net profit of 93,997,632.05 RMB for the first half of 2025, with a net profit attributable to shareholders of 98,494,123.43 RMB [12][22]. - As of June 30, 2025, the company had a total undistributed profit of 1,474,552,096.92 RMB, with the parent company holding 991,280,556.11 RMB in undistributed profits [12][22]. Group 2: Profit Distribution Plan - The profit distribution plan is based on a total share capital of 430,937,219 shares, excluding 4,957,500 shares repurchased, resulting in a distribution base of 425,979,719 shares [12][22][29]. - The total cash dividend to be distributed amounts to 42,597,971.90 RMB (including tax) [12][22][29]. Group 3: Corporate Governance and Investor Relations - The company emphasizes the importance of corporate governance and has established a robust governance structure, including a board of directors and a supervisory board [41]. - The company has engaged in various investor relations activities, including hosting performance briefings and responding to investor inquiries, to enhance communication and transparency [40][41]. Group 4: Quality Improvement Initiatives - The company has implemented a "Quality and Return Improvement" action plan aimed at enhancing operational quality and investor confidence [36][37]. - The company achieved a revenue of 9.62 billion RMB in the first half of 2025, reflecting its commitment to high-quality development and innovation [37].

报告摘要 动的说明 人。 公司控股股东浙江元龙股权投资管理集团有限公司共持有公司股份 201,445,712 股，占公 司总股本 证券账户持有公司股份 16,200,000 股，占其所持有公司股份总数的 8.04%，占公司总股 本的 3.76%。 参与融资融券 杭州新亚电感器件有限公司持有公司股份 2,847,631 股，占公司总股本 0.66%，其 中通过华福证券有限 业务股东情况 责任公 司客 户信 用交易 担保 证券账 户持 有公 司股份 2,847,531 股，占其 所 持有 公司 股份总 数的 说明（如有） 99.99%，占公司总股本 430,937,219 股的 0.66%。 共青城蕴沣资产管理有限公司－蕴沣优选 3 号私募证券投资基金持有公司股份 2,347,300 股，占公司总 股本 0.54%,其中通过申港证券股份有限公司客户信用交易担保证券账户持有公司股份 2,347,300 股， 占其所持有公司股份总数的 100%，占公司总股本 430,937,219 股的 0.54%。 持股 5%以上股东、前 10 名股东及前 10 名无限售流通股股东参与转融通业务出借股份情况 □适用 ?不适用 前 ...

债券代码：128137 债券简称：洁美转债 一、审议程序 浙江洁美电子科技股份有限公司（以下简称"公司"）于2025年8月8日召开的 第四届董事会第二十六次会议和第四届监事会第十三次会议，审议通过了《关于 证券代码：002859 证券简称：洁美科技 公告编号：2025-046 浙江洁美电子科技股份有限公司 关于 2025 年半年度利润分配预案的公告 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。 上述利润分配方案符合《公司法》《企业会计准则》《现金分红指引》及本 公司章程等规定，符合公司确定的利润分配政策、利润分配计划、股东长期回报 规划以及作出的相关承诺。 三、现金分红方案合理性说明 公司 2025 年半年度利润分配预案合法合规，符合《现金分红指引》以及《公 司章程》《未来三年股东回报规划（2025-2027 年）股东回报规划》中关于现金 分红的条件、比例及决策程序的有关规定，该利润分配预案综合考虑公司经营业 绩、经营净现金流情况、经营发展与股东回报，符合公司确定的利润分配政策， 具备合法性、合规性及合理性。 四、其他说明 二、利润分配预案的基本情况 （一） ...