Core Viewpoint - Haomei New Materials (002988) is under scrutiny from the stock exchange regarding its revenue growth without profit increase before Q3 2025 and the rationale behind multiple changes to previous fundraising projects [1] Financial Performance - For the first three quarters of 2025, Haomei New Materials reported a revenue increase of 15.40% to 5.582 billion yuan, while net profit attributable to shareholders decreased by 16.68% to 143 million yuan, with a comprehensive gross margin dropping to 10.65% [2] - The decline in profit is attributed to rising aluminum ingot raw material prices and a more than 20% increase in R&D expenses, reaching 180 million yuan [2] - Revenue from the automotive lightweight business has increased its share to 27.58%, with the company aiming to improve profitability through product structure optimization [2] Stock Performance - Over the past seven trading days (February 6 to 12, 2026), Haomei New Materials' stock price has decreased by 3.65%, closing at 35.66 yuan, underperforming compared to the non-ferrous metal sector, which rose by 1.63% during the same period [3] - Technical analysis indicates the stock is in a bearish trend, with a 20-day moving average resistance level at 40.97 yuan [3] - On February 6, there was a net inflow of 2.609 million yuan in main funds, but overall trading activity remains low [3] Institutional Insights - According to a report from Sina Finance, the revenue growth of Haomei New Materials is primarily driven by the expansion of its automotive lightweight aluminum profile business, which generated 1.537 billion yuan in revenue during the first three quarters [4] - However, fluctuations in gross margin and a high customer concentration (with the top five customers accounting for 70.54% of revenue) may continue to impact profitability stability [4] - The company emphasizes that new production capacity has secured support from designated projects worth 5.661 billion yuan, maintaining a long-term positive outlook on the lightweight sector for new energy vehicles [4]

Core Viewpoint - Haomei New Materials (002988.SZ) faces scrutiny from the stock exchange regarding its recent financial performance, specifically the increase in revenue without a corresponding increase in profit, alongside multiple changes in previously funded projects [1] Financial Performance - For the first three quarters of 2025, the company's operating revenue increased by 15.40% year-on-year to 5.582 billion yuan, while the net profit attributable to shareholders decreased by 16.68% to 143 million yuan, indicating a clear increase in revenue without profit growth [1] - The decline in profit is primarily attributed to a decrease in gross margin, driven by rising prices of primary raw materials (aluminum ingots) and a lag in product price adjustments [1] - R&D expenses reached 180 million yuan in the first three quarters of 2025, reflecting a year-on-year increase of over 20% [1] Strategic Adjustments - The company emphasizes that the short-term profit pressure is reasonable, as the revenue from automotive lightweight business has increased to 27.58% of total revenue, with plans to optimize profit structure by increasing the proportion of high-value-added products [1] - Regulatory concerns focus on the continuity of the company's funded projects, with previous projects being altered after initial investments, raising questions about the prudence of the decision to expand production capacity for automotive lightweight aluminum materials and components [1] Market Positioning - The company claims that previous project changes were strategic adjustments based on market conditions, with the new project targeting the lightweight segment of the new energy vehicle market, supported by 5.661 billion yuan in designated projects [1] - Regulatory authorities require additional explanations regarding the prudence of benefit assessments, particularly in light of the overall gross margin of only 10.65% during the reporting period [1]

Core Viewpoint - The company, Guangdong Haomei New Materials Co., Ltd., has received an inquiry letter from the Shenzhen Stock Exchange regarding its application for a specific stock issuance, and it has responded to the inquiries and updated its application documents accordingly [1][2]. Group 1 - The company received the inquiry letter on January 25, 2026, from the Shenzhen Stock Exchange's Listing Review Center [1]. - The company, along with relevant intermediaries, conducted a thorough study of the questions raised in the inquiry letter and provided detailed responses [1]. - The updated content of the application documents, including the prospectus, was disclosed on February 12, 2026, on the Giant Tide Information Network [1]. Group 2 - The stock issuance is subject to approval by the Shenzhen Stock Exchange and registration consent from the China Securities Regulatory Commission, which introduces uncertainty regarding the approval timeline [2]. - The company will fulfill its information disclosure obligations based on the progress of these matters [2].

Group 1 - The first batch of investors in the case against Haomei New Materials has won in the first instance, establishing a precedent that may expedite future claims for other affected investors [1][5] - Investors eligible for compensation are those who purchased shares between November 6, 2023, and November 14, 2023, and either sold or still hold shares with losses after November 15, 2023 [2][5] - The case stems from the company's misleading statements regarding its business operations, which led to regulatory scrutiny and a warning from the Guangdong Securities Regulatory Bureau [3][6] Group 2 - The company inaccurately disclosed information about its clients, claiming coverage of certain well-known brands, which was found to be misleading [3][6] - The company failed to correct misleading information in subsequent announcements, which disrupted investors' decision-making and violated disclosure regulations [3][6] - With the administrative penalties and the first-instance judgment, the responsibility in this case has become clearer, making legal recourse a rational choice for affected investors [6]

证券代码：002988 证券简称：豪美新材 债券代码：127053 转债简称：豪美转债 （清远市高新技术产业开发区泰基工业城） 向特定对象发行 A 股股票 募集说明书 （申报稿） 保荐人（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 二〇二六年二月 广东豪美新材股份有限公司 募集说明书 声 明 本公司及全体董事、审计委员会成员、高级管理人员承诺募集说明书及其他 信息披露资料不存在任何虚假记载、误导性陈述或重大遗漏，并对其真实性、准 确性及完整性承担相应的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财务 会计资料真实、完整。 中国证监会、深圳证券交易所对本次发行所作的任何决定或意见，均不表明 其对申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对 发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何 与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发 行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担证券依法发行后因发行人经营与收益变化或者证券价格变动引致的投 ...

北京国枫律师事务所 关于广东豪美新材股份有限公司 2025 年度向特定对象发行股票的 补充法律意见书之一 国枫律证字［2025］AN226-5 号 北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7-8 层 邮编：100005 电话（Tel）：010－66090088/88004488 传真（Fax）：010－66090016 北京国枫律师事务所 关于广东豪美新材股份有限公司 2025 年度向特定对象发行股票的 补充法律意见书之一 国枫律证字[2025]AN226-5 号 致：广东豪美新材股份有限公司 本所律师根据《公司法》《证券法》《注册管理办法》《业务管理办法》 《业务执业规则》等相关法律、行政法规、规章及规范性文件的要求，按照律 师行业公认的业务标准、道德规范和勤勉尽责精神，对发行人提供的文件和有 关事实进行了查验，现出具补充法律意见如下： 《问询函》问题 1 根据申报材料，报告期各期公司主营业务收入金额分别为 540744.95 万元、 598163.83 万元、666706.01 万元和 557467.33 万元，以汽车轻量化铝型材、工 业用 ...

国泰海通证券股份有限公司 关于 广东豪美新材股份有限公司 主板向特定对象发行股票 之 发行保荐书 （中国（上海）自由贸易试验区商城路 618 号） 二〇二六年二月 广东豪美新材股份有限公司 发行保荐书 国泰海通证券股份有限公司 关于广东豪美新材股份有限公司 主板向特定对象发行股票之发行保荐书 国泰海通证券股份有限公司（以下简称"国泰海通证券"或"保荐人"）接 受广东豪美新材股份有限公司（以下简称"豪美新材"、"公司"、"发行人"） 的委托，担任豪美新材本次向特定对象发行 A 股股票（以下简称"本项目"） 的保荐人，张贵阳、范心平作为具体负责推荐的保荐代表人。 本发行保荐书中如无特别说明，相关用语具有与《广东豪美新材股份有限公 司向特定对象发行 A 股股票募集说明书》中相同的含义。本发行保荐书中若出 现表格内合计数与实际所列数值总和不符的情况，均为四舍五入所致。 3-1-1 | 目 | 录 2 | | --- | --- | | 第一节 | 本次证券发行基本情况 3 | | | 一、本次证券发行的保荐人 3 | | | 二、本次证券发行的保荐人工作人员情况 3 | | | 三、发行人基本情况 4 | | | 四 ...

国泰海通证券股份有限公司 关于 广东豪美新材股份有限公司 主板向特定对象发行股票 之 上市保荐书 保荐人（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 二〇二六年二月 广东豪美新材股份有限公司 向特定对象发行 A 股股票上市保荐书 声 明 国泰海通证券股份有限公司（以下简称"国泰海通证券"、"保荐人"或 "本保荐人"）接受广东豪美新材股份有限公司（以下简称"豪美新材"、"公 司"或"发行人"）的委托，担任豪美新材本次向特定对象发行 A 股股票（以 下简称"本次发行"）的保荐人，张贵阳、范心平作为具体负责推荐的保荐代表 人，为本次向特定对象发行股票上市出具上市保荐书。 本保荐人及保荐代表人已根据《中华人民共和国公司法》（下称《公司法》"）、 《中华人民共和国证券法》（下称"《证券法》"）、《证券发行上市保荐业务 管理办法》（下称"《保荐管理办法》"）、《上市公司证券发行注册管理办法》 （简称"《注册管理办法》"）、《深圳证券交易所股票上市规则》（下称"《上 市规则》"）等有关法律、行政法规和中国证券监督管理委员会（以下简称"中 国证监会"）、深圳证券交易所有关规定，诚实守信，勤勉尽责，严格按照依 ...

关于广东豪美新材股份有限公司 向特定对象发行股票申请的 专项核查报告 容诚专字[2026]518Z0159 号 容诚会计师事务所(特殊普通合伙) 中国·北京 | 问题一 2 | | --- | | 问题二 71 | 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn https://www.rsm.global/china/ 关于广东豪美新材股份有限公司 向特定对象发行股票申请的 专项核查报告 容诚专字[2026]518Z0159 号 深圳证券交易所： 贵所于 2026 年 1 月 25 日出具的《关于广东豪美新材股份有限公司申请向特 定对象发行股票的审核问询函》（审核函〔2026〕120007 号）（以下简称"问询 函"）已收悉。 容诚会计师事务所（特殊普通合伙）（以下简称"发行人会计师"或"会计师"） 为广东豪美新材股份有限公司（以下简称"发行人"、"公司"或"豪美新 材"）的申报会计师，本 ...

证券简称：豪美新材 证券代码：002988 债券简称：豪美转债 债券代码：127053 广东豪美新材股份有限公司 与 国泰海通证券股份有限公司 关于 申请向特定对象发行股票的 审核问询函的回复 保荐人（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 二〇二六年二月 广东豪美新材股份有限公司 审核问询函的回复 深圳证券交易所： 贵所于 2026 年 1 月 25 日出具的《关于广东豪美新材股份有限公司申请向特 定对象发行股票的审核问询函》（审核函〔2026〕120007 号）（以下简称"问询 函"）已收悉。广东豪美新材股份有限公司（以下简称"发行人"、"公司"或"豪 美新材"）与国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）、 容诚会计师事务所（特殊普通合伙）（以下简称"发行人会计师"或"会计师"）、 北京国枫律师事务所（以下简称"发行人律师"或"律师"）等相关方对问询函 所列问题逐项进行了讨论，对相关事项进行了核查并发表意见。 现将具体情况说明如下，请贵所予以审核。 如无特别说明，本回复使用的简称与《广东豪美新材股份有限公司向特定对 象发行 A 股股票募集说明书》（以下简称"募集说 ...